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Wanderers Ways. Neil Thompson 1961-2021

Change Of Owner?


onlyoneawalker

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No fooker knows whats going on

 

There are a thousand unanswered questions

 

Im gonna predict that this will all end up in tears

 

These people have not come in to lose money

 

We dont even know who "these" people are

Bottom line is correct. So how you know it will end in tears is quite impressive.
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£11m from sales.... Did we really owe that in directors loans?

 

 

i dont think we did

 

but we had the payday loan of 5 million, dunno when that was cleared

 

is the car park included in the 11 million?

 

also, we're still losing at least a million a month

 

the losses havent stopped just cos we were up for sale

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That's how I'm reading it, does not do anything to help the club, basically he has left 15 million of debt on the books, in Eddies world that's doing us a favour.

 

Maybe he's done that to keep the cockney wideboys in check.

 

So they don't appoint Dennis Wise or flog off some gold pig for a fiver.

 

Or so that he doesn't get ripped off if they sell it to an oil shale gas baron in three weeks time.

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Meldrew's right, we'll be here again within 12-18 months.

 

Gonzo's right, who's paying the tax?

 

 

he might be, so we can either moan and groan or we can do what football fans everywhere do, hope for the best

 

 

ssbwfc are paying the tax, and according to iles

 

 

As I understand it Ken Anderson has a fair shareholding in SS, as does Dean Holdsworth. Bruce Gordon has a 50 per cent share in SS-BWFC, which is the company that now owns Wanderers.

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So basically there has been a complex multi million pound deal that has taken months to work out and people are surprised that it has not been explained via a tweet.

 

The deal needs to be approved by the FA so pretty sure untill that happens there is fuck all chance of anything concrete being announced.

 

Untill a few days ago the general story doing the rounds was that ED wanted whoever bought the club to have £20m up front to cover running costs. Deanos lot have put £7.5M up front so are £12.5M 'short' ED has seemingly still got a loan of £15m against the club.

 

Is there any chance that ED has in fact in essence left enough cash in the club so it keeps going ?

 

Not one of us knows how much has been raised by things that have been sold or what that money has been used for. But ED is the easy target.

 

The club has been losing money hand over fist for years just look at the same bill that has been referenced in court so something you have to say is likely to be true and that is after we have started to off load the high earners and that debt grows so quickly it is scary.

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Lies & deceptions.

Gonzo's right, who's paying the tax?

.

The Judge from the HMRC case was explicit in court that ALL secured and unsecured debt, in particular HMRC must be paid off as part of the sale or club will be wound up. So the immediate debt issues go as soon as the sale goes through. How SS are going to keep servicing the loses and then turn a break even is the missing question

 

The other key point from the case is that HMRC are saying there is no car park sale to Emerson Group???

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The Judge from the HMRC case was explicit in court that ALL secured and unsecured debt, in particular HMRC must be paid off as part of the sale or club will be wound up. So the immediate debt issues go as soon as the sale goes through. How SS are going to keep servicing the loses and then turn a break even is the missing question

The other key point from the case is that HMRC are saying there is no car park sale to Emerson Group???

Still keep asking myself. Why would SS want to buy a loss making business.? The only real way to get any investment back is by getting the team into the Premier League

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Still keep asking myself. Why would SS want to buy a loss making business.? The only real way to get any investment back is by getting the team into the Premier League

Not necessarily. See my post on VC's a few pages back.

 

They will have already have a plan on how to cut losses. If my experience is anything to go by there will be short (90 day) medium 1 year and long term 3 year plans in place. The short ones will be to reduce debt and sell off assets and keep the cash flow going.

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Still keep asking myself. Why would SS want to buy a loss making business.? The only real way to get any investment back is by getting the team into the Premier League

Given a VC company have joined the bid there must be some type of credible plan for them to out money in.

 

But anyone expecting a spending spree is likely to be disappointed.

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The Judge from the HMRC case was explicit in court that ALL secured and unsecured debt, in particular HMRC must be paid off as part of the sale or club will be wound up. So the immediate debt issues go as soon as the sale goes through. How SS are going to keep servicing the loses and then turn a break even is the missing question

 

The other key point from the case is that HMRC are saying there is no car park sale to Emerson Group???

 

What about to prescot group?

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So SS need to finance a £1 million loss per month for the forseable.

 

£175k tax interest for the forseable.

 

£2.2 million tax bill.

 

Then pay for a new sqaud in May.

 

That's before we've even swtiched the lights on.

 

They must be fucking loaded and completely mental.

 

Or not.

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So SS need to finance a £1 million loss per month for the forseable.

 

£175k tax interest for the forseable.

 

£2.2 million tax bill.

 

Then pay for a new sqaud in May.

 

That's before we've even swtiched the lights on.

 

They must be fucking loaded and completely mental.

 

Or not.

What's the interest on tax?

 

HMRC can't put that sort of interest on outstanding balances surely and isn't any HMRC money included in the £1m a month deficit?

 

Its still far too much though, your right!! did someone quote £10m a year to keep all the non football related stuff going (inc 300 staff) - I think that's the first place they will look to make savings if they can

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