New beginnings - 25% Truth, 80% Bollocks

[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 Quinn]

Bring back Power at least he brought in decent players🤣

[Mooneyraker]

So is Clem currently trying to sell the club?

[STFC_Manc]

So is Clem currently trying to sell the club?

Do you know something?

[Mooneyraker]

Do you know something?

Just seen it bandied around on Twatter.

[Trashbat?]

I mean he couldn’t run the club anymore as if he doesn’t give a fuck, so I wouldn’t be surprised.

[theakston2k]

I mean he couldn’t run the club anymore as if he doesn’t give a fuck, so I wouldn’t be surprised.

Doing bare minimum to keep it operational so wouldn’t be surprised either.

[Legends-Lounge]

So is Clem currently trying to sell the club?

Well you say that. I couldn’t blame him if he was. This thread of conversation has been the hot topic the last two days in LL Towers. To my mind Clem bought the club because the articles of association and memorandum meant that General Spiv Pee Lower had to offer the sinking ship to other shareholders AKA Clem (being the only one), after a long hard fought court battle to get his 10-15% share holding upheld. Upon realising his £1.15m was going down the pan he had no option but to buy the club from Pee Lower or see it end up in the hands of Pee Lowers mates (Able) via the back door.

That’s where the fairy tail ends. Once digger realised how much debt there was visible and then more invisible came out it was too late to just kiss goodbye to his initial investment. He was now the sole owner of a club with a debt mountain that Chris Bonnington might have thought twice about climbing.

As things have turned out there was a shining silver knight on a white steed in the form of Nigel Eady. Still a lot of work to do but that is over the line now and with Diggers back ground in ‘construction’ there be a profit to be had. The problem you see is this profit is in the form of a huge fuck off treasure chest. To get to this Valhalla think Pirates of the Caribbean meets Indian Jones. Just a few obstacles to overcome. First one keeping the club going and ‘viable’ until he can get his hands on the Ark or the Treasure Chest AKA a new stadium.

Snakes and ladders meets monopoly.