| Today's bury thread on 21:48 - Jun 23 with 2252 views | BigDaveMyCock |
You're right. It appears to be a loan and it's secured on Gigg and the interest rate is 7.5% per month (90% PA).
Oh and by the way BarryStrange, PDiddy et al, I'm being fookin serious. [Post edited 23 Jun 2014 21:53]
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| Today's bury thread on 22:05 - Jun 23 with 2213 views | BigDaveMyCock |
| Today's bury thread on 21:48 - Jun 23 by BigDaveMyCock |
You're right. It appears to be a loan and it's secured on Gigg and the interest rate is 7.5% per month (90% PA).
Oh and by the way BarryStrange, PDiddy et al, I'm being fookin serious. [Post edited 23 Jun 2014 21:53]
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Can anyone genuinely enlighten me if it's normal for a dormant company to make loans? | |
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| Today's bury thread on 22:33 - Jun 23 with 2176 views | TTNYear |
1) Proves there's no rich benefactor
2) it could and probably is a bridging loan, but it seems pretty stupid to lend at that rate in the long term. I reckon the work on the pitch might be the reason for this plus a little extra for Flitcroft's kitty
3) it's a massive risk. If they start off crap and crowds don't increase it could be a spiral downwards of epic proportions
There is a few saying 'enjoy the ride'. The last time I went on the Big One at Blackpool, I didn't have to worry that there was no track at the end. |  |
| Anti-cliquism is the last refuge of the messageboard scoundrel - Copyright Dorset Dale productions |
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| Today's bury thread on 22:48 - Jun 23 with 2148 views | BigDaveMyCock |
| Today's bury thread on 22:33 - Jun 23 by TTNYear |
1) Proves there's no rich benefactor
2) it could and probably is a bridging loan, but it seems pretty stupid to lend at that rate in the long term. I reckon the work on the pitch might be the reason for this plus a little extra for Flitcroft's kitty
3) it's a massive risk. If they start off crap and crowds don't increase it could be a spiral downwards of epic proportions
There is a few saying 'enjoy the ride'. The last time I went on the Big One at Blackpool, I didn't have to worry that there was no track at the end. |
I genuinely don't know if it's just a genuine bridging loan (it's a huge rate of interest nevertheless) accompanied by a risky speculate to accumulate strategy. What makes it difficult is who are the lenders, Cash4Assets? What and who are they? | |
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| Today's bury thread on 23:01 - Jun 23 with 2114 views | KenBoon |
Their website is down, however if you hit the Wayback Machine you can see their website from when it was live.
https://web.archive.org/web/20130630221643/ http://cash4assets.co.uk/
Edit: You'll need to copy and paste the entire link because the forum has kindly split it into two (when its one)
Look like a standard high-interest rate lender but with a business niche.
That page also links to Assetcash (Facebook, Website and Twitter). [Post edited 23 Jun 2014 23:05]
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| Today's bury thread on 23:09 - Jun 23 with 2102 views | BigDaveMyCock |
| Today's bury thread on 23:01 - Jun 23 by KenBoon |
Their website is down, however if you hit the Wayback Machine you can see their website from when it was live.
https://web.archive.org/web/20130630221643/ http://cash4assets.co.uk/
Edit: You'll need to copy and paste the entire link because the forum has kindly split it into two (when its one)
Look like a standard high-interest rate lender but with a business niche.
That page also links to Assetcash (Facebook, Website and Twitter). [Post edited 23 Jun 2014 23:05]
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Blimey, how bad is that website? They must be absolutely desperate for the cash or are they? [Post edited 23 Jun 2014 23:10]
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| Today's bury thread on 23:32 - Jun 23 with 2063 views | Thacks_Rabbits |
If its 7.5% a month its no bridging loan, it is also nowhere near 90% P.A. as it will be compound interest - If they do not pay anything back for a year at those rates - results are crazy.
It sounds like a load of crap to me tbh - If you don't believe me multiply £100k by 1.075 12 times!!! |  |
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| Today's bury thread on 01:02 - Jun 24 with 2021 views | R11BFC |
We knew about this a month ago...keep up Daleys! Post 614:
http://www.gigglane.com/showthread.php/22311-Money-Money-Money/page16?highlight=
For those of you who cant log in:
"Hypothetically - until its confirmed (I have learnt my lesson). How would you feel if the club were being charged 7.5% per month for 6 figure amounts of money secured on Gigg Lane in the last month or so?" 2/6/14
Thanks for your concerns though and i agree, it's concerning... [Post edited 24 Jun 2014 1:12]
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| For God loved the world so much, that He gave His only Son, so that everyone who believes in Him, may not die, but have eternal life. John 3:16 |
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| Today's bury thread on 01:13 - Jun 24 with 2016 views | R11BFC |
| Today's bury thread on 23:32 - Jun 23 by Thacks_Rabbits |
If its 7.5% a month its no bridging loan, it is also nowhere near 90% P.A. as it will be compound interest - If they do not pay anything back for a year at those rates - results are crazy.
It sounds like a load of crap to me tbh - If you don't believe me multiply £100k by 1.075 12 times!!! |
138% APR | |
| For God loved the world so much, that He gave His only Son, so that everyone who believes in Him, may not die, but have eternal life. John 3:16 |
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| Today's bury thread on 07:01 - Jun 24 with 1948 views | PDIDDY |
| Today's bury thread on 21:48 - Jun 23 by BigDaveMyCock |
You're right. It appears to be a loan and it's secured on Gigg and the interest rate is 7.5% per month (90% PA).
Oh and by the way BarryStrange, PDiddy et al, I'm being fookin serious. [Post edited 23 Jun 2014 21:53]
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Like r11 says, we've known about this for ages. I will just follow my 2 nd team if it goes t it's up |  |
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| Today's bury thread on 07:05 - Jun 24 with 1954 views | BigDaveMyCock |
| Today's bury thread on 23:32 - Jun 23 by Thacks_Rabbits |
If its 7.5% a month its no bridging loan, it is also nowhere near 90% P.A. as it will be compound interest - If they do not pay anything back for a year at those rates - results are crazy.
It sounds like a load of crap to me tbh - If you don't believe me multiply £100k by 1.075 12 times!!! |
It's registered at Companies House. | |
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| Today's bury thread on 07:09 - Jun 24 with 1950 views | BigDaveMyCock |
| Today's bury thread on 01:02 - Jun 24 by R11BFC |
We knew about this a month ago...keep up Daleys! Post 614:
http://www.gigglane.com/showthread.php/22311-Money-Money-Money/page16?highlight=
For those of you who cant log in:
"Hypothetically - until its confirmed (I have learnt my lesson). How would you feel if the club were being charged 7.5% per month for 6 figure amounts of money secured on Gigg Lane in the last month or so?" 2/6/14
Thanks for your concerns though and i agree, it's concerning... [Post edited 24 Jun 2014 1:12]
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Tbf R11BFC nobody has noted the lender. Who, lets just say at this point, look exceptionally strange. | |
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| Today's bury thread on 08:30 - Jun 24 with 1893 views | aleanddale |
| Today's bury thread on 07:09 - Jun 24 by BigDaveMyCock |
Tbf R11BFC nobody has noted the lender. Who, lets just say at this point, look exceptionally strange. |
Barry Strange is the lender??
Lets just say the plot thickens whilst they enjoy the ride on the diluted cordial view that Peel holdings are about to pump in millions!!
Oh they do have the JD money* though!!.
*default response by some shakers when the money issue is raised. | | | |
| Today's bury thread on 09:31 - Jun 24 with 1848 views | BarryStrange |
| Today's bury thread on 13:34 - Jun 23 by R11BFC |
Barry - check your PMs on the Bury main messageboard. |
Cheers, I'll get involved when I get a mo. | | | |
| Today's bury thread on 09:41 - Jun 24 with 1835 views | R11BFC |
| Today's bury thread on 07:09 - Jun 24 by BigDaveMyCock |
Tbf R11BFC nobody has noted the lender. Who, lets just say at this point, look exceptionally strange. |
Not sure what you mean tbh.
But the truth is, you dont know what we're doing behind the scenes.
Lender has been noted and as you say, considered exceptionally strange.
Anything else? [Post edited 24 Jun 2014 9:43]
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| For God loved the world so much, that He gave His only Son, so that everyone who believes in Him, may not die, but have eternal life. John 3:16 |
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| Today's bury thread on 09:47 - Jun 24 with 1819 views | R11BFC |
| Today's bury thread on 08:30 - Jun 24 by aleanddale |
Barry Strange is the lender??
Lets just say the plot thickens whilst they enjoy the ride on the diluted cordial view that Peel holdings are about to pump in millions!!
Oh they do have the JD money* though!!.
*default response by some shakers when the money issue is raised. |
If we are being shafted - which we could well be. You seem to take a great deal of pleasure out of it. Why...just out of interest? | |
| For God loved the world so much, that He gave His only Son, so that everyone who believes in Him, may not die, but have eternal life. John 3:16 |
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| Today's bury thread on 10:18 - Jun 24 with 1779 views | R17ALE |
| Today's bury thread on 09:47 - Jun 24 by R11BFC |
If we are being shafted - which we could well be. You seem to take a great deal of pleasure out of it. Why...just out of interest? |
I know your question wasn't directed at me, but I'll put my 2 pennorth in.
On-line, bury fans have created something of a niche for themselves with an attitude of "we know best".
I could give you scores of examples but, most recently there were some on here 12 months ago saying we were diving in too soon signing the likes of Hogan and Lund, whilst Blackwell was being pragmatic in biding his time. Seriously, I'm not making that up.
When Day took over, on the very same day, I got a text from one of your lot. It simply said, "tonight we bathe in gold".
Now, us Daleys are a battle hardened, weather beaten set of fans, who have a natural instinct not to immediately believe all that is placed in front of us - eg the PPP Arf scheme a few years ago.
So when a neighbouring club (whose fans think they know best) are faced with the bizarre events that your club have been presented with, it is very interesting to watch and observe. I don't know aleanddale, but I think you may have mistook his rabid interest as a sort of guilty pleasure - a guilty pleasure many perverse in, a naughty secret even.
Our MP is going to write a book on it! |  |
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| Today's bury thread on 11:07 - Jun 24 with 1733 views | TTNYear |
Another point R11.
How does, say a minion like myself apply for a loan with this cash4assets outfit?
Shall I try their website? Nope not there.
Shall I ring up? No number.
The power of thought and if I wish hard enough they might ring me up.
It's just more subterfuge and oddness. And yes I don't know what's going on behind the scenes, and neither do you. But all this balls about no AGM and no forums is alarming and gives time for tongues to wag. If I was Day and my intentions were honourable, then the fans would be the first I'd keep on side. The same fans he wants through the doors in greater numbers. What's he do? Say 'f' all and close your message board. Ok a little sweeping but you know what I'm saying.
Its all pointing to ending in tears in my honest opinion. I won't lose much sleep (not in a vicious way), but you could lose your club. The ones saying 'Well what could we do?' could be ruing those words in five years time. [Post edited 24 Jun 2014 11:08]
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| Anti-cliquism is the last refuge of the messageboard scoundrel - Copyright Dorset Dale productions |
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| Today's bury thread on 11:13 - Jun 24 with 1724 views | SuddenLad |
Five years is wildly optimistic IMHO. |  |
| “It is easier to fool people, than to convince them that they have been fooled†|
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| Today's bury thread on 11:18 - Jun 24 with 1714 views | Scunnydale |
It's a tricky situation. People will always enjoy seeing their rival clubs suffer, it's part of football. However, most people won't enjoy seeing their rivals go out of business, certainly not clubs like ourselves.
I'd suggest that, over the past few years, Bury and Rochdale have - through gate receipts and TV money - given each other a decent amount of cash. That's something neither of us can sniff at. I know that, barring cup matches and the friendly, we won't meet this coming season, but I still wouldn't like Bury to go under as I'm sure it won't be too long until we're playing each other again.
I'm no financial genius, but some of the stuff coming out worries even me. As TTN says, the silence regarding the AGM and forums is frightening. If they have nothing to hide, why are they hiding?
As rivals, we'll always want each other to struggle and may take some pleasure in the times when things aren't going too well for the other team, but I for one sure as hell still want you around to mock! |  | | |
| Today's bury thread on 11:18 - Jun 24 with 1712 views | TTNYear |
| Today's bury thread on 11:13 - Jun 24 by SuddenLad |
Five years is wildly optimistic IMHO. |
They will still be ruing those words though. | |
| Anti-cliquism is the last refuge of the messageboard scoundrel - Copyright Dorset Dale productions |
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| Today's bury thread on 11:33 - Jun 24 with 1682 views | SuddenLad |
| Today's bury thread on 11:18 - Jun 24 by TTNYear |
They will still be ruing those words though. |
It seems that this is the document subject of much discussion on their message board:
https://docs.google.com/file/d/0By3WszcF1Pf9cG1hS0NzWEZtMFk/edit
According to those with financial nous, interest alone is an eye-watering £33,000 per month. | |
| “It is easier to fool people, than to convince them that they have been fooled†|
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| Today's bury thread on 11:37 - Jun 24 with 1678 views | BarryStrange |
| Today's bury thread on 11:18 - Jun 24 by Scunnydale |
It's a tricky situation. People will always enjoy seeing their rival clubs suffer, it's part of football. However, most people won't enjoy seeing their rivals go out of business, certainly not clubs like ourselves.
I'd suggest that, over the past few years, Bury and Rochdale have - through gate receipts and TV money - given each other a decent amount of cash. That's something neither of us can sniff at. I know that, barring cup matches and the friendly, we won't meet this coming season, but I still wouldn't like Bury to go under as I'm sure it won't be too long until we're playing each other again.
I'm no financial genius, but some of the stuff coming out worries even me. As TTN says, the silence regarding the AGM and forums is frightening. If they have nothing to hide, why are they hiding?
As rivals, we'll always want each other to struggle and may take some pleasure in the times when things aren't going too well for the other team, but I for one sure as hell still want you around to mock! |
Afraid we won't be. £33k per month interest on that loan alone, never mind whatever else we have to pay (Ryan Lowe for instance) for 13 months - not a chance in hell of us honouring that.
Looking at the Bury board the penny seems to be finally dropping that the mystery backer does not, in fact, exist, though some still cling to the "we don't know Stewart Day's plans yet".
Oddly though, the loan isn't to Bury FC, it is to SG Sports Management, using Gigg as security. Haven't got a clue what to make of that but I will be very surprised at the moment if we are still having the who has 6 fingers debate in 5 years' time. | | | |
| Today's bury thread on 12:25 - Jun 24 with 1603 views | R11BFC |
| Today's bury thread on 10:18 - Jun 24 by R17ALE |
I know your question wasn't directed at me, but I'll put my 2 pennorth in.
On-line, bury fans have created something of a niche for themselves with an attitude of "we know best".
I could give you scores of examples but, most recently there were some on here 12 months ago saying we were diving in too soon signing the likes of Hogan and Lund, whilst Blackwell was being pragmatic in biding his time. Seriously, I'm not making that up.
When Day took over, on the very same day, I got a text from one of your lot. It simply said, "tonight we bathe in gold".
Now, us Daleys are a battle hardened, weather beaten set of fans, who have a natural instinct not to immediately believe all that is placed in front of us - eg the PPP Arf scheme a few years ago.
So when a neighbouring club (whose fans think they know best) are faced with the bizarre events that your club have been presented with, it is very interesting to watch and observe. I don't know aleanddale, but I think you may have mistook his rabid interest as a sort of guilty pleasure - a guilty pleasure many perverse in, a naughty secret even.
Our MP is going to write a book on it! |
I think you're tarring all Bury fans with the same brush. Me personally, i'd even be upset if Noblot were being shafted.
As i said earlier in this thread we're all football fans... | |
| For God loved the world so much, that He gave His only Son, so that everyone who believes in Him, may not die, but have eternal life. John 3:16 |
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