irvtheswerv

Here's what I know: Our team is shit Some of our players are not shit Our manager has handled off the field issues very well Our manager has handled on the field issues very badly The club has no money The club has a lot of debt Ken has a lot of money No one that has money and wants to buy us, wants to give money to Ken Therefore no one that has money wants to buy us The hotel has a winding up petition Wednesday 17th April. We need to pay someone some money on this day or shit will happen The club is back in court 8th May. We need to pay someone some money on this day or some bigger shit will happen The players have not been paid. They can walk out on Sunday. That's still faster than some of them moved last night I hate Nerys Hughes Tonight's Man Utd game on TV should cheer us up, we can laugh at Phil Jones trying to do a man marking job on Messi I don't pin my faith on posts from people I've never met

I put those figures up. The £250,000 a month was the monthly cash injection needed at Bury. Our wage bill is circa £800k a month for players, + whatever the other staff cost (don't know how much that is), our requirements are clearly much higher than £250,000 a month.

🤣 like this one. Could be Andersona? Fiin. 30 years since I did Latin.

2 letters already dated and signed. Whoever owns the debt just has to give 14 days notice. Which H claims to have happened.....if you believe it.

Andreas Moller. Ruined my fucking summer that penalty did. German wankpot.

I'm not defending anyone on here mind, but we are all welcome to step in, buy the club and pay the bills. Genuine question - if you won the euromillions, would you run a loss making club? I know that Bury needs a £250,000 cash injection every month. How much would we need?

Didn't see the post you refer to. At least I know a homophone when I see one though.

quis custodiet ipsos custodes = Chris Custodiet = hardly a big play on words is it Ken. Are you liquidating us today or not?

Theres plenty of info on companies house that's tells you what's already happened. I've concluded anyone but Ken who says they know what's going to happen tomorrow or the rest of the week is talking complete bollocks. It's a fingers crossed job, pointless trawling thru shite from this thread anymore.

Sammy Lee was a useless twat as manager. Saw him in the spread eagle on a Wednesday night with the whole squad, they were all arseholed. Funnily enough we lost on the Saturday.

https://www.gov.uk/liquidate-your-company/creditors-voluntary-liquidation Ken can close it down if he wants to. Decides club can't pay its debt, can't meet its obligations. Only needs 75% of shareholders to agree this and he's got 94.5%. We can't stop him if that's what he wants to do.

Used to live in Ipswich. Lovely place to live, if a bit dull, and the women are minging. 4hrs drive tops from Ipswich at 730 on a saturday. 5.5hrs on a coach with stops.

OOh so close. I thought it was going to be this bloke. https://en.wikipedia.org/wiki/Adrian_Cronauer The PA might be more interesting.

FFS. Bassini has 3 companies registered at the same address, 1 of which is a restaurant seemingly without any premises. None have filed any accounts. If he's not got any backers, he can't have a pot to piss in.

There's no proof anyone knows anything. There's a couple of knocked up documents from someone claiming to be in the know. I know what I know, which is a bit more than fuck all. I've posted links to the accounts. Have a look at them, and root about through the linked companies. From what I've read and think I've understood, we're fucked unless someone puts some money in. If someone wants to put money in, even if it's a half baked Italian tosspot in a red tin hat funded by thai ladyboys, it's better than going out of business. Take your pick and make your own mind up. And shout loud on Saturday , we might send the tractor boys down before us.

Soapytitwank

That's what happening on the high street. Businesses loaded with debt they can't pay back. Owners fuck off with a handsome profit.

They probably do. But Ken's such a cunt they're a bit too late to stop him. Think of him as the hooded claw, but actually successful.

I'd have said zero chance of that. The debt to turnover ratio is pretty low I'd imagine, and it must make a massive profit from all those official sponsors. I should imagine they've even got an official septic tank provider somewhere in the world.

I did try to dig up how the Glazers funded buying Utd. The were unable to access sufficient funding at reasonable rates, so borrowed £135 million on a Payment in Kind note, at 14.25% annual interest over 5 years, and paid back £270 million on that. To pay it back borrowed £330 million and paid themselves £60 million dividend. Utd has paid more in interest payments than the Glazers originally borrowed, and yet still owe more than they originally borrowed. But the Glazers are sat on a ludicrous amount of profit.

Debt converted to equity diluted your shareholding. Essentially worthless. You've probably got something like 0.00000001% of shares/voting rights.

eg the deal to use the carrington training ground was for £1 a year rent. Provided Bury cover the £300,000 annual running costs.

Bury is losing £2.8 million on a £4.5 million turnover. It's bankrupt unless someone chucks some money in. Nearly all clubs lose money. Bury's total ticket sales will be circa £1.6million for the season. A decent league 2 striker wants £200k a year. Football isn't really a business. If it were run purely based on the actual turnover of a club, players would be on about 35 grand a year.

They will be in effectively be in control of Inner circle, which used Ken's shares in Burnden leisure as collateral for the loan from Eddie Davies/Moonshift. So they will be in control of the shares in Burnden. If I've understood.

Righto I've had a proper read of it as far as I am able to understand it. So both are signed, Part 2 is dated and enforced when the lender takes action to recover debt. So Howard reckons his boys have done this and will seize Ken's shares Tuesday next week. If the deal with Buffooni doesn't go through, I think this means Ken will only keep his cash by liquidating. I wish I'd not read it now, who was it who said a little bit of knowledge is a dangerous thing. I think I need lots of San Miguel to beat back the depression. Looking up in shock at 0-1 on the score board in Munich seems a bloody long time ago.