| 5.4% interest on debts 22:08 - Jan 5 with 4919 views | pennblue |
Not a great interest rate that
Does that mean he is making 5 million a year out of Ipswich town football club?
So ie. he isn’t really sticking 7 million in coz he is getting 5 of it back? |  |
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| 5.4% interest on debts on 22:09 - Jan 5 with 4378 views | J2BLUE |
Where's that figure from? I didn't think he charged interest. |  |
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| 5.4% interest on debts on 22:11 - Jan 5 with 4373 views | Weekender |
| 5.4% interest on debts on 22:09 - Jan 5 by J2BLUE |
Where's that figure from? I didn't think he charged interest. |
This has been explained so many times. Answer is no. |  |
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| 5.4% interest on debts on 22:18 - Jan 5 with 4332 views | Oxford_Blue |
He hasn’t charged interest since about 2012.
It’s not interest he can ever recover anyway unless the club is promoted to the PL.
He loses millions each year as a result of owning the club. Any offset for tax purposes doesn’t stop his losses.
This has been covered hundreds of times before. | | | |
| 5.4% interest on debts on 22:29 - Jan 5 with 4287 views | jas0999 |
Evans has claimed many millions in interest payments from the club. But not recently. | | | |
| 5.4% interest on debts on 22:53 - Jan 5 with 4222 views | TractorWood |
Sigh. No he's not charged interest in about 6 years. If he did he would be charging interest to his own company and increase the funding gap, that he has to meet. |  |
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| 5.4% interest on debts on 22:59 - Jan 5 with 4196 views | factual_blue |
| 5.4% interest on debts on 22:09 - Jan 5 by J2BLUE |
Where's that figure from? I didn't think he charged interest. |
For a variety of reasons, and particularly to demonstrate to HMRC that he's made a loan to the club, there has to be a document showing there is a loan with a rate of interest that has some reference to prevailing interest rates. Otherwise he ends up in a world of pain around making a massive gift and potential tax evasion.
Of course, as the creditor, what he does about collecting the debt and the interest on it, is up to him. |  |
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| 5.4% interest on debts on 23:05 - Jan 5 with 4174 views | HARRY10 |
| 5.4% interest on debts on 22:53 - Jan 5 by TractorWood |
Sigh. No he's not charged interest in about 6 years. If he did he would be charging interest to his own company and increase the funding gap, that he has to meet. |
Actually not correct
ITFC is a separate legal entity to other companies within the group.
So loans/interest payments etc are not to 'himself'. | | | |
| 5.4% interest on debts on 23:12 - Jan 5 with 4159 views | TractorWood |
| 5.4% interest on debts on 23:05 - Jan 5 by HARRY10 |
Actually not correct
ITFC is a separate legal entity to other companies within the group.
So loans/interest payments etc are not to 'himself'. |
Actually it is correct. I don't say they are same legal entity. Marcus Evans is the ultimate beneficial owner of both entities so in substance it's entirely correct. [Post edited 5 Jan 2019 23:14]
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| 5.4% interest on debts on 23:14 - Jan 5 with 4145 views | J2BLUE |
| 5.4% interest on debts on 22:59 - Jan 5 by factual_blue |
For a variety of reasons, and particularly to demonstrate to HMRC that he's made a loan to the club, there has to be a document showing there is a loan with a rate of interest that has some reference to prevailing interest rates. Otherwise he ends up in a world of pain around making a massive gift and potential tax evasion.
Of course, as the creditor, what he does about collecting the debt and the interest on it, is up to him. |
Cheers, i'm sure I remember Phil posting similar in the past. | |
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| 5.4% interest on debts on 23:23 - Jan 5 with 4123 views | jjblue84 |
| 5.4% interest on debts on 22:18 - Jan 5 by Oxford_Blue |
He hasn’t charged interest since about 2012.
It’s not interest he can ever recover anyway unless the club is promoted to the PL.
He loses millions each year as a result of owning the club. Any offset for tax purposes doesn’t stop his losses.
This has been covered hundreds of times before. |
So why is a ‘successful’ businessman owning a business losing millions a year with no hope of making money? That’s the question. |  | | |
| 5.4% interest on debts on 23:25 - Jan 5 with 4120 views | Burwell_Blue |
| 5.4% interest on debts on 23:23 - Jan 5 by jjblue84 |
So why is a ‘successful’ businessman owning a business losing millions a year with no hope of making money? That’s the question. |
Do you think he wants to? |  | | |
| 5.4% interest on debts on 23:35 - Jan 5 with 4081 views | J2BLUE |
| 5.4% interest on debts on 23:23 - Jan 5 by jjblue84 |
So why is a ‘successful’ businessman owning a business losing millions a year with no hope of making money? That’s the question. |
It was supposed to be a short term investment to sell us on as a Premier League club. It went wrong. It happens. | |
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| 5.4% interest on debts on 23:37 - Jan 5 with 4074 views | jjblue84 |
| 5.4% interest on debts on 23:35 - Jan 5 by J2BLUE |
It was supposed to be a short term investment to sell us on as a Premier League club. It went wrong. It happens. |
Right. Wasn’t that along time ago? What’s he been doing since?? | | | |
| 5.4% interest on debts on 09:49 - Jan 6 with 3876 views | ElderGrizzly |
| 5.4% interest on debts on 22:29 - Jan 5 by jas0999 |
Evans has claimed many millions in interest payments from the club. But not recently. |
He hasn’t claimed many millions. You are talking nonsense as usual.
A single penny has never left the club to him in his entire ownership and throughout whatever legal entity the money flows it still comes back to one man.
He owes it to himself and he won’t see It paid back, unless we got the the PL and stayed there.
There are no conspiracies, under-hand motives etc. He’s just a rich man who has lost nearly £80m on a football club through poor management and poor decisions. |  | | |
| 5.4% interest on debts on 09:50 - Jan 6 with 3872 views | Oxford_Blue |
| 5.4% interest on debts on 23:25 - Jan 5 by Burwell_Blue |
Do you think he wants to? |
Indeed.
He’d rather walk away but recognises the bad press and supporter animosity that would cause. | | | |
| 5.4% interest on debts on 10:02 - Jan 6 with 3849 views | wkj |
Oh good, this again |  |
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| 5.4% interest on debts on 10:32 - Jan 6 with 3806 views | jjblue84 |
| 5.4% interest on debts on 09:49 - Jan 6 by ElderGrizzly |
He hasn’t claimed many millions. You are talking nonsense as usual.
A single penny has never left the club to him in his entire ownership and throughout whatever legal entity the money flows it still comes back to one man.
He owes it to himself and he won’t see It paid back, unless we got the the PL and stayed there.
There are no conspiracies, under-hand motives etc. He’s just a rich man who has lost nearly £80m on a football club through poor management and poor decisions. |
He wants that money back, let’s just be clear about that. | | | |
| 5.4% interest on debts on 10:35 - Jan 6 with 3790 views | artsbossbeard |
| 5.4% interest on debts on 10:32 - Jan 6 by jjblue84 |
He wants that money back, let’s just be clear about that. |
Wouldn't you then? |  |
| Please note: prior to hitting the post button, I've double checked for anything that could be construed as "Anti Semitic" and to the best of my knowledge it isn't. Anything deemed to be of a Xenophobic nature is therefore purely accidental or down to your own misconstruing. | | Poll: | Raining in IP8 - shall I get the washing in? |
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| 5.4% interest on debts on 10:35 - Jan 6 with 3792 views | StokieBlue |
I find it amazing that something which is really very simple and has been explained in layman's terms on numerous occasions is beyond the wit of many on here.
It's depressing.
SB |  |
| Avatar - IC410 - Tadpoles Nebula |
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| 5.4% interest on debts on 10:37 - Jan 6 with 3778 views | artsbossbeard |
| 5.4% interest on debts on 10:35 - Jan 6 by StokieBlue |
I find it amazing that something which is really very simple and has been explained in layman's terms on numerous occasions is beyond the wit of many on here.
It's depressing.
SB |
Agreed, and you can be assured that this same story is shared around the pub/school/library where it's then treated as gospel. | |
| Please note: prior to hitting the post button, I've double checked for anything that could be construed as "Anti Semitic" and to the best of my knowledge it isn't. Anything deemed to be of a Xenophobic nature is therefore purely accidental or down to your own misconstruing. | | Poll: | Raining in IP8 - shall I get the washing in? |
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| 5.4% interest on debts on 11:05 - Jan 6 with 3701 views | J2BLUE |
| 5.4% interest on debts on 10:32 - Jan 6 by jjblue84 |
He wants that money back, let’s just be clear about that. |
I hope he gets it back as the only way he will is if we're a Premier League club. | |
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| 5.4% interest on debts on 11:12 - Jan 6 with 3688 views | Pinewoodblue |
When Marcus Evans purchased the club he also purchased the clubs debts from Norwich Union and Barclays. He purchased £32m of debt for around £6m. Interest was payable at around 7% not on the £6m but on the full £32m.
In the early years the interest due was added to the debt, including interest on the unpaid interest. No interest has been charged since 2012. Millions were added to the debt.
There was an article in the Guardian early in 2005 that explained how Marcus was going to make money from his purchase, especially if we managed to get promoted. |  |
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| 5.4% interest on debts on 13:26 - Jan 6 with 3573 views | blueislander |
| 5.4% interest on debts on 10:32 - Jan 6 by jjblue84 |
He wants that money back, let’s just be clear about that. |
According to you ITFC is a company registered in The Cayman Islandds, so it seems sensible to cast some doubt on anything you post. | | | |
| 5.4% interest on debts on 13:29 - Jan 6 with 3566 views | ElderGrizzly |
| 5.4% interest on debts on 10:32 - Jan 6 by jjblue84 |
He wants that money back, let’s just be clear about that. |
In an ideal world, he’d like it back.
In the current world, he’ll see next to none of it back. | | | |
| 5.4% interest on debts on 13:30 - Jan 6 with 3560 views | jjblue84 |
| 5.4% interest on debts on 13:26 - Jan 6 by blueislander |
According to you ITFC is a company registered in The Cayman Islandds, so it seems sensible to cast some doubt on anything you post. |
You’ve got the wrong person... | | | |
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