horlock07
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« Reply #2070 on: Monday, January 18, 2016, 10:28:12 » |
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Didn't Bury borrow £1m from a Wonga type company, at big rates of interest?
No that was Bournemouth with that Russian bloke!? |
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bigbobjoylove
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« Reply #2071 on: Monday, January 18, 2016, 10:32:13 » |
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What are Bury borrowing against, the ground?
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Batch
Not a Batch
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« Reply #2072 on: Monday, January 18, 2016, 10:37:01 » |
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horlock07
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« Reply #2073 on: Monday, January 18, 2016, 10:42:52 » |
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I do wonder of there is a degree of borrowing money from associated companies and acquatances here? This did catch my eye. Stuart Cook, spokesman for a concerned group of small Bury shareholders, said: “We are lifelong fans whose parents and grandparents attended Gigg Lane; we want a successful club but based on sustainable spending. Don't worry mate, even if you do want that certain fans will still moan like hell about it and prefer a boom bust model! |
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Summerof69
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« Reply #2074 on: Monday, January 18, 2016, 10:56:00 » |
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No that was Bournemouth with that Russian bloke!?
No, the Russian is only charging around 6% interest. |
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suttonred
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« Reply #2075 on: Monday, January 18, 2016, 11:17:35 » |
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No that was Bournemouth with that Russian bloke!?
Yeah it was Bury and reported in some places as 2 million. They were going for shit or bust this year. One is now looking more likely than the other. |
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horlock07
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« Reply #2076 on: Monday, January 18, 2016, 13:53:33 » |
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suttonred
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« Reply #2077 on: Monday, January 18, 2016, 14:31:18 » |
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Delaying the inevitable. I'll be surprised if they don't fold, as effectively someone has to spend almost 200 million to get them even, as I cant see a standard administration being allowed. And no one will spend that amount on what is a relatively small team with little hope of making large profits.
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Summerof69
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« Reply #2078 on: Monday, January 18, 2016, 14:53:02 » |
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Delaying the inevitable. I'll be surprised if they don't fold, as effectively someone has to spend almost 200 million to get them even, as I cant see a standard administration being allowed. And no one will spend that amount on what is a relatively small team with little hope of making large profits.
The amount owed to the owner will be written off, a bit like Black decided, that he no longer wants to write any more big cheques. Apparently they are in discussions to sell part of the car park to developers for £25m. That'll will see them through to the end of the season... |
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horlock07
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« Reply #2079 on: Monday, January 18, 2016, 14:54:43 » |
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Delaying the inevitable. I'll be surprised if they don't fold, as effectively someone has to spend almost 200 million to get them even, as I cant see a standard administration being allowed. And no one will spend that amount on what is a relatively small team with little hope of making large profits.
I assume though that the debt outside that to the owner is only £3m with £2.2m of that to the HMRC, depends how much Eddie Davies wants back I suppose. |
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RedRag
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« Reply #2080 on: Monday, January 18, 2016, 15:27:42 » |
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This might be "what's right with football" but the Bury (and other stories) are actually showing the good things in not owning your own ground, ie we cannot be shafted by property investors, often penniless property investors. Whatever Power may be up to in the medium term there are easier clubs to fleece than STFC  |
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Summerof69
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« Reply #2081 on: Monday, January 18, 2016, 15:46:27 » |
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depends how much Eddie Davies wants back I suppose.
He's writing it all off as soon as he gets new owners. He just doesn't want to put any more money in. |
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horlock07
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« Reply #2082 on: Tuesday, January 19, 2016, 10:12:13 » |
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DarloSTFC84
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« Reply #2083 on: Tuesday, January 19, 2016, 10:49:35 » |
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What. A. Cunt.
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Roaming the land while you sleep..
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Costanza
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« Reply #2084 on: Tuesday, January 19, 2016, 11:27:18 » |
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He can't be 'all there'.
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