New beginnings - 25% Truth, 80% Bollocks

[STFC_Manc]

yeah, ok , fair enough.

the liability is still there though on the FC. Ok it's 'paper' debt and not callable (at least as far as we know). it's not unreasonable  for it to be stepped settled on sale of the club (though I doubt the club is worth the liability)

I've not said it isn't, all I said is he paid off £6m/£7m of debt - I should have said external debt maybe but again people are being picky here.

[Batch]

Yes but you are not going to get an answer are you? Lets see what the accounts say in a few months?

I don't know if I'll get an answer. I'll keep mentioning if it's all the same.

if the accounts say we've not lost 'at least' 500k (covered or not) then it's another loads of bollocks that Clem has been pushing.

[Batch]

no it's not picky.

paid off debt = a purchaser wouldn't have to cover it.

I think we are agreed it's far better as internal debt compared to external.

[STFC_Manc]

I don't know if I'll get an answer. I'll keep mentioning if it's all the same.

if the accounts say we've not lost 'at least' 500k (covered or not) then it's another loads of bollocks that Clem has been pushing.

I will keep picking you up on it then, if you don't mind.  It will be fun to see.

[STFC_Manc]

no it's not picky.

paid off debt = a purchaser wouldn't have to cover it.

I think we are agreed it's far better as internal debt compared to external.

It is picky, you all know what I meant the club doesn't have a spare 50p let alone £7m.  Agreed debt to an owner is a lot better than debt to external parties.

[Batch]

Picking my up for being concerned we are told we are "still losing 500k-1m" a season. Knock yourself out

[UTR]

Picking my up for being concerned we are told we are "still losing 500k-1m" a season. Knock yourself out

For what it’s worth, you’re not alone in that concern.

[Batch]

For what it’s worth, you’re not alone in that concern.

I mean there isn't much we can do about it. But it's not like it's easy to knock 500-1m off the playing budget. So I'm hoping it's including one off costs.

Maybe our lawyer friend above can advise us. You're not Eddie P are you STFC_manc? 😁

[STFC_Manc]

I mean there isn't much we can do about it. But it's not like it's easy to knock 500-1m off the playing budget. So I'm hoping it's including one off costs.

Maybe our lawyer friend above can advise us. You're not Eddie P are you STFC_manc? 😁

I think we are all concerned about it, however we can do fuck all about it. 

I wish I earn't as much as a lawyer! I'm not sure what one off's we had last year?  Maybe it includes money bringing the stadium up to standard?

[FreddySTFC!]

I'm assuming that a lot of the 'one off debt' are the various covid related loans that we are in the process of paying back to the EFL. These are being chipped away at when looking at the most up to date advisory board minutes.

Of the £623k still outstanding, £488k is payable to the EFL. I can't remember what the exact terms of those loans were but I'm fairly positive that they were interest free & there was no immediate deadline to get them paid by.

I did also ask the Trust on Twitter as to whether the money we've held in separate accounts, pending the outcome of non-football related debt that we are contesting, would be used towards these debts should the rulings fall in our favour but didn't get a response.

[Batch]

I'm assuming that a lot of the 'one off debt' are the various covid related loans that we are in the process of paying back to the EFL. These are being chipped away at when looking at the most up to date advisory board minutes.
I did also ask the Trust on Twitter as to whether the money we've held in separate accounts, pending the outcome of non-football related debt that we are contesting, would be used towards these debts should the rulings fall in our favour but didn't get a response.

The efl  loans are on account in the AB minutes. They are being paid off slowly - well you wouldn't want to pay those off unless you have to so fair enough.

If the losses are one off stadium issues that's probably good news - assuming perpetual one off costs don't come up every year
----
I just use the losses to put straight in my mind  expectations going forward. There isn't anything I can do about it , but pretty much all fan talk is linked to it in some way. If it's getting where we are as a club so be it. I have a few trust issues with the regime which could be unfounded, or not.

Oh why oh why couldn't Clem have come in without the power baggage. Simple. Up front. All in it together

[Batch]

I wish I earn't as much as a lawyer!

Apologies for such a slur! I must have mixed you up with someone who used to post here

Edit: Aha, confusion clarified

I'm a lawyer and can confirm that the profession is indeed populated by cunts. And plenty of morons as well.

[Mooneyraker]

On one level I almost respect Jody Morris for calling the club out when he was manager, as he has since.

[Outletred]

Chronic lack of investment in the playing squad.

Clems businesses are on their knees and he needs his money back- hence when we get planning permission for any redevelopment he will be off

[Jimmy HaveHave]

Bring back Power at least he brought in decent players🤣