STFC Transfer Rumours

[Flashheart]

This does bring me back to a point I’ve raised a few times. There must be funds available for clearing these debts as Axis only paid £212,500 for the club when, at the beginning of the buying process, they were willing to pay in excess of ‘Able’s’ supposed £7.5m.

I might be wrong, but I think the 7.5M included having debts cleared, meaning ABLE/Clem would be left with no debt. I can't see anybody paying 7.5M PLUS the debts.

It worked out instead that Clem got the club for 200k+, but still has to pay the debts, so it's not as though Clem got the club for 7.3M less.

[Audrey]

Yep, that’s what I meant. There should be £7m+ left over for clearing the debts. Surely even Power couldn’t have racked up that much debt.

[Honkytonk]

Clem should have enough to pay it now and worry about recouping it later. Otherwise he's going to struggle to meet his ambition to get us into the Championship.

I suspect it's just a matter of paperwork and having to faff about with moving money.

This, you can't 'just' liquidate £1m overnight, at least not if you have a sensible accountant who's got your money working for you as I imagine anyone stupid enough to take over a football club probably should. Takes a while for it to be converted to 'cash' per se to pay off the umbongo. It'll come.

I really don't think we're in the worst situation we could be bearing in mind this time 2 weeks ago it looked like we might not have a club any more. We've got some good young players, a handful of decent heads, and we're obviously attracting some decent squad members even just looking at the triallists.

Ain't over till the transfer window slams shut, I would hazard a guess some contracts have already been exchanged for important positions, but can't be ratified until the umbongo disappears.
 

[Flashheart]

Yep, that’s what I meant. There should be £7m+ left over for clearing the debts. Surely even Power couldn’t have racked up that much debt.

I'm with you now.

If he was willing to pay the 7.5M, then the money should be there to pay the lot off.

[RobertT]

Don't forget the debenture became payable on completion of the sale of the club.  I'd imagine a lot of debts are urgent and jostling for position.  Someone asked if Power could magic up extra debt - well, he tried, we know that much, because the 2016 account originally had the Ritchie money accounted for a Directors Loan to the business, a cool 1.5m or so.  Also we started paying/accruing recruitment fees to Power Geneva.

[Shrivvy Road]

I don't doubt he will pay the £1m off but i suppose it is worth the club weighing up if it is worth doing straight away if yjey believe they can sign what they need within current restraints

[Audrey]

Rumoured that Villa lad was training with us today.

[Riddick]

Rumoured that Villa lad was training with us today.

The wing back?

[Audrey]

That’s the fella. Supposedly the the dog’s bollocks

[Riddick]

Could be up to 3 of our allotted loans very quickly then with him, the Chelsea midfielder and Simpson.

[Batch]

FOOTBALL : @Official_STFC sign defender Kaine Kesler Hayden on season-long loan from Aston Villa (captained them to 2020/21 FA Youth Cup) #stfc

[Flashheart]

Going by what I've read about this lad, he's a very exciting signing.

[Red Frog]

Going by what I've read about this lad, he's a very exciting signing.

Good 'n' all that, but they said the same about Jordan Stevens.

[tans]

Just signed a new 5 year deal at Villa

[Chunkyhair]

He does seem like someone with potential who could do well in L2.

One question/comment - not re this lad particularly but loanees in general. In the past we seem to have had loanees who we have had to play, irrespective of their actual talent.  I hope that we do not end up in a postion where we have a dog that the Ben's are having to pick week in and week out just cos of the terms of the loan.  Or as ever, is this all bollocks on my part?