redrobo wrote:I along with no doubt a number of others have already forked out for a Season Ticket for next season.
I hope that the money is now in the club's account and not in the sticky hands of JW or the Bond Group which if they control the club's finances is a distinct possibility.
Clarification would be welcome for those like myself who made a purchase in all good faith never expecting OUR club to be in such a perilous position.
Keith wrote:It would be good if Whittingham/Bond could be offered what they put into the club, and a small increase, so they are in profit, then hopefully, they'd walk away. Wishful thinking...
KenH wrote:I think they've already had back what they put in, as the directors have said the club is now debt free, and of course, hundreds of thousands in interest has also been paid on that debt (£380,013 per the 20/21 accounts!) mostly to Bond group at what appears to be an extortionate rate of interest!
I think whatever they sell it for is now profit for them. But arguably the club is now worthless (in fact it was probably worthless when they bought it given the debt and making an average half a million loss each year!).
If it goes into receivership/administration, it very definitely is worthless, so Del and Rodney would be better to sell it now to literally anyone for a modest sum, rather than try to hold out for more than it's worth from Sarbjot and end up getting nothing!
redrobo wrote:I thought that the money put in by Johal was is the way of shares. If so then that does not have to be repaid and if he wants the cost back somebody has to buy them otherwise he just becomes a shareholder with little chance of getting his money back.
Could be wrong of course.....
redrobo wrote:I thought that the money put in by Johal was is the way of shares. If so then that does not have to be repaid and if he wants the cost back somebody has to buy them otherwise he just becomes a shareholder with little chance of getting his money back.
Could be wrong of course.....
Wild Bill wrote:Things haven't really changed much since PMG sold up
KenH wrote:Wild Bill wrote:Things haven't really changed much since PMG sold up
Well, the debt slate has been wiped clean which is a positive. Under PMG's ownership, we were making huge losses every year (between £300-£700k p.a.), paid for by selling off land, then by debt/borrowing, so at least the covid grants, player sales, promotion & tv monies have cleared the past debt.
Trouble is looking forward, we've nothing left to sell, so our inevitable future losses will have to be financed somehow, i.e. by new loans/debt or injections of cash from owners (new or old).
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