| Bury, some mortgage questions.... on 21:29 - Jun 24 with 2537 views | Daley_Lama |
Ace
"This means that your director's loan account, when secured by a debenture, has to be repaid in full out of company assets in any insolvency before VAT,PAYE and trade creditors receive one penny. What a benefit for you!"
Can't lose, won't lose. |  |
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| Bury, some mortgage questions.... on 21:29 - Jun 24 with 2533 views | judd |
| Bury, some mortgage questions.... on 21:29 - Jun 24 by Daley_Lama |
Ace
"This means that your director's loan account, when secured by a debenture, has to be repaid in full out of company assets in any insolvency before VAT,PAYE and trade creditors receive one penny. What a benefit for you!"
Can't lose, won't lose. |
Sensible forward planning in case of a rainy day? |  |
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| Bury, some mortgage questions.... on 21:30 - Jun 24 with 2525 views | YouTubeDale |
They are only following the Glazer model of ownership. Trouble is, bury isn't a worldwide brand which is an important part of the Glazer model for financing the thing.
You'd have thought that they believe they have a world brand the way they have started...
According to BBC Sport :-
But manager Kevin Blackwell will also welcome as many as 25 triallists, as he aims to shape a squad capable of returning to the third tier at the first attempt next season.
"We've put a worldwide scouting system in place, and we've got 25 players that have come from all over the world coming into training - we've even got a lad coming in from Brazil."
http://www.bbc.co.uk/sport/0/football/23028715 [Post edited 1 Jan 1970 1:00]
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| Bury, some mortgage questions.... on 21:31 - Jun 24 with 2521 views | R17ALE |
And one of their main trades is finding blokes in England for single Ukraine ladies!
No wonder Milesy is being tipped to join their board!
You can't make this stuff up!
Where's pops and dpiddy and t'others? |  |
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| Bury, some mortgage questions.... on 21:32 - Jun 24 with 2515 views | SuddenLad |
Only 2 directors, but plenty of adverts for Chinese Girls. Perhaps they are part of the 'worldwide scouting network' |  |
| “It is easier to fool people, than to convince them that they have been fooled†|
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| Bury, some mortgage questions.... on 21:33 - Jun 24 with 2504 views | judd |
| Bury, some mortgage questions.... on 21:31 - Jun 24 by R17ALE |
And one of their main trades is finding blokes in England for single Ukraine ladies!
No wonder Milesy is being tipped to join their board!
You can't make this stuff up!
Where's pops and dpiddy and t'others? |
Company only a month old yet can raise a mortgage already? | |
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| Bury, some mortgage questions.... on 21:36 - Jun 24 with 2497 views | R17ALE |
| Bury, some mortgage questions.... on 21:33 - Jun 24 by judd |
Company only a month old yet can raise a mortgage already? |
Mmmm, Gigg Lane will end up as the property of Sports Management. It might need the skill of a commercial property law expert, which is where this all may fall down as they can't afford one. | |
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| Bury, some mortgage questions.... on 21:37 - Jun 24 with 2490 views | judd |
| Bury, some mortgage questions.... on 21:36 - Jun 24 by R17ALE |
Mmmm, Gigg Lane will end up as the property of Sports Management. It might need the skill of a commercial property law expert, which is where this all may fall down as they can't afford one. |
Erm...
Could become a knocking shop, looking at those ads | |
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| Bury, some mortgage questions.... on 21:39 - Jun 24 with 2477 views | R17ALE |
| Bury, some mortgage questions.... on 21:37 - Jun 24 by judd |
Erm...
Could become a knocking shop, looking at those ads |
Perhaps they could use the Bishop in them and earn some money? | |
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| Bury, some mortgage questions.... on 21:41 - Jun 24 with 2463 views | D_Alien |
| Bury, some mortgage questions.... on 21:39 - Jun 24 by R17ALE |
Perhaps they could use the Bishop in them and earn some money? |
They'd be onto a goldmine with The Bury Bi-Shop [Post edited 1 Jan 1970 1:00]
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| Bury, some mortgage questions.... on 21:44 - Jun 24 with 2439 views | Daley_Lama |
| Bury, some mortgage questions.... on 21:33 - Jun 24 by judd |
Company only a month old yet can raise a mortgage already? |
Easy peesy
All you have to do is sign a debenture against prime property, meaning that anybody else who would up the lendee would not get a single penny until you get every single penny you put in is paid back,
That's every penny I assume, including what they have paid to the FL and the Taxman. Anything spent on sofas too.
Can't lose, won't lose.
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| Bury, some mortgage questions.... on 21:48 - Jun 24 with 2419 views | TTNYear |
| Bury, some mortgage questions.... on 21:44 - Jun 24 by Daley_Lama |
Easy peesy
All you have to do is sign a debenture against prime property, meaning that anybody else who would up the lendee would not get a single penny until you get every single penny you put in is paid back,
That's every penny I assume, including what they have paid to the FL and the Taxman. Anything spent on sofas too.
Can't lose, won't lose.
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Enough said |  |
| Anti-cliquism is the last refuge of the messageboard scoundrel - Copyright Dorset Dale productions |
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| Bury, some mortgage questions.... on 21:48 - Jun 24 with 2417 views | judd |
| Bury, some mortgage questions.... on 21:44 - Jun 24 by Daley_Lama |
Easy peesy
All you have to do is sign a debenture against prime property, meaning that anybody else who would up the lendee would not get a single penny until you get every single penny you put in is paid back,
That's every penny I assume, including what they have paid to the FL and the Taxman. Anything spent on sofas too.
Can't lose, won't lose.
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I would guess that those debts were funded by the mortgage. | |
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| Bury, some mortgage questions.... on 21:51 - Jun 24 with 2399 views | TTNYear |
| Bury, some mortgage questions.... on 21:48 - Jun 24 by judd |
I would guess that those debts were funded by the mortgage. |
They were bathing in gold a month ago. Where's the bloody gold gone? | |
| Anti-cliquism is the last refuge of the messageboard scoundrel - Copyright Dorset Dale productions |
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| Bury, some mortgage questions.... on 21:52 - Jun 24 with 2389 views | judd |
| Bury, some mortgage questions.... on 21:51 - Jun 24 by TTNYear |
They were bathing in gold a month ago. Where's the bloody gold gone? |
Global scouting networks don't fall out of tress y'know. | |
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| Bury, some mortgage questions.... on 21:53 - Jun 24 with 2385 views | TVOS1907 |
| Bury, some mortgage questions.... on 21:51 - Jun 24 by TTNYear |
They were bathing in gold a month ago. Where's the bloody gold gone? |
David Gold?
Someone else who has worked with Karren Brady! |  |
| When I was your age, I used to enjoy the odd game of tennis. Or was it golf? |
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| Bury, some mortgage questions.... on 22:14 - Jun 24 with 2334 views | BigDaveMyCock |
I'm still staggered that it is Rochdale and Port Vale fans who are questioning this. It may not be what it increasingly looks, but it stinks like the back of a fish mongers on a hot summers day. I know it's been mentioned about the apathy of Bury fans towards the smell, but there is not even the raise of one nostril hair from any journalist from the Bury Times (or whatever their local rag is) etc.
Bizarre. |  |
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| Bury, some mortgage questions.... on 22:16 - Jun 24 with 2321 views | judd |
| Bury, some mortgage questions.... on 22:14 - Jun 24 by BigDaveMyCock |
I'm still staggered that it is Rochdale and Port Vale fans who are questioning this. It may not be what it increasingly looks, but it stinks like the back of a fish mongers on a hot summers day. I know it's been mentioned about the apathy of Bury fans towards the smell, but there is not even the raise of one nostril hair from any journalist from the Bury Times (or whatever their local rag is) etc.
Bizarre. |
But it's a perfectly legal business practice. That's probably what's thrown the bury fans. | |
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| Bury, some mortgage questions.... on 22:16 - Jun 24 with 2319 views | 442Dale |
| Bury, some mortgage questions.... on 22:14 - Jun 24 by BigDaveMyCock |
I'm still staggered that it is Rochdale and Port Vale fans who are questioning this. It may not be what it increasingly looks, but it stinks like the back of a fish mongers on a hot summers day. I know it's been mentioned about the apathy of Bury fans towards the smell, but there is not even the raise of one nostril hair from any journalist from the Bury Times (or whatever their local rag is) etc.
Bizarre. |
Whatever happens, some people down the A58 should be thoroughly ashamed at their attitude tonight. |  |
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| Bury, some mortgage questions.... on 22:20 - Jun 24 with 2300 views | SuddenLad |
Well, if I hadn't been unduly worried before tonight's carefully 'released statement', I certainly would be now.
It smacks of panic, even at this early stage. | |
| “It is easier to fool people, than to convince them that they have been fooled†|
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| Bury, some mortgage questions.... on 22:29 - Jun 24 with 2275 views | judd |
| Bury, some mortgage questions.... on 22:20 - Jun 24 by SuddenLad |
Well, if I hadn't been unduly worried before tonight's carefully 'released statement', I certainly would be now.
It smacks of panic, even at this early stage. |
They're only protecting their financial investment.
They've bought a failed business, don't know if they got 100% of shares but clearly have sufficient ownership in order to issue the debenture.
They will undoubtedly have had to pay a significant deposit on a commercial mortgage, so I expect their purchase price was way below the balance sheet asset value.
Commercial mortgage rates are typically attracting interest rates 3% above LIBOR so the immediate impact on cash flow will be painful. Has the club got the ability to generate sufficient cash flow in order to fund repayments over the mid to long term?
Fees from transfers are not all paid up in one installment.
Not much commercial activity until August.
In the immediate term the mortgage cash will be used to repay the mortgage, I guess. After that... | |
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| Bury, some mortgage questions.... on 22:34 - Jun 24 with 2262 views | BigDaveMyCock |
| Bury, some mortgage questions.... on 22:16 - Jun 24 by judd |
But it's a perfectly legal business practice. That's probably what's thrown the bury fans. |
Oh yeah, as I've said there's nothing overly controversial about the mortgage. However, it's not what was originally promised or allowed to be believed. The general ignorance of the Bury fans to this point aside, there has been still been a staggering lack of interest or inquisition in regards to this matter from the Bury press. A chairman not revealing himself for so long, mortgaging the ground, the identity of SG Sports and no players whatsoever. They, like the fans, have just believed what they've been told. It's been us, Dale fans, who have said hang on this is not what you were led to believe it was. | |
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| Bury, some mortgage questions.... on 22:42 - Jun 24 with 2242 views | SuddenLad |
| Bury, some mortgage questions.... on 22:29 - Jun 24 by judd |
They're only protecting their financial investment.
They've bought a failed business, don't know if they got 100% of shares but clearly have sufficient ownership in order to issue the debenture.
They will undoubtedly have had to pay a significant deposit on a commercial mortgage, so I expect their purchase price was way below the balance sheet asset value.
Commercial mortgage rates are typically attracting interest rates 3% above LIBOR so the immediate impact on cash flow will be painful. Has the club got the ability to generate sufficient cash flow in order to fund repayments over the mid to long term?
Fees from transfers are not all paid up in one installment.
Not much commercial activity until August.
In the immediate term the mortgage cash will be used to repay the mortgage, I guess. After that... |
Well judd, you have far more knowledge of commercial financial matters than I have, but I have to say that from the layman's perspective, it just doesn't seem to add up somehow.
It's like one of those situations where you poke something with a stick to see if it twitches or to see whether it's actually real, without knowing what will actually happen.
I find it all very disturbing.
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| “It is easier to fool people, than to convince them that they have been fooled†|
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