| How rich are the new owners? 20:01 - Feb 26 with 7800 views | suffolkpoker |
I assume more rich than ME?
are we talking mega rich like marque signings / ipswich Galácticos?
Or will they Chuck a few mill in and then just charge us a ton of interest? |  |
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| How rich are the new owners? on 21:00 - Feb 26 with 3090 views | pointofblue |
| How rich are the new owners? on 20:54 - Feb 26 by nodge_blue |
Whatever we currently think of Evans, when he initially bought us he said here's a lump of money to be a success and if that doesn't work I'll put in some more. And by the way the debt is all owned by me. So end of the day I only make money if the club is a success.
Versus
Heres a pension fund lump of money. That money will be repaid WHATEVER plus interest.
I don't know, but it feels like the asking price of the club 27mil? Will be funded by the loan. So now we really are 27 mil in debt that has to be repaid? [Post edited 26 Feb 2021 20:58]
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So if they don't get the club into the position to generate money then what? Sell the training ground?
Maybe we should be thankful the Portman Road land is owned by the council. |  |
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| How rich are the new owners? on 21:00 - Feb 26 with 3089 views | nodge_blue |
| How rich are the new owners? on 20:59 - Feb 26 by hype313 |
But doesn't Evans charge us interest on the loans? And charges us rent for Playford Road. |
Yes but its interest on debt owned to himself. So its just a figure rather than real repayments. |  |
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| How rich are the new owners? on 21:02 - Feb 26 with 3081 views | nodge_blue |
| How rich are the new owners? on 21:00 - Feb 26 by pointofblue |
So if they don't get the club into the position to generate money then what? Sell the training ground?
Maybe we should be thankful the Portman Road land is owned by the council. |
I thought that myself the other day. Its more of a community asset being owned by the council and maybe no bad thing. [Post edited 26 Feb 2021 21:03]
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| How rich are the new owners? on 21:05 - Feb 26 with 3069 views | ElderGrizzly |
| How rich are the new owners? on 20:59 - Feb 26 by hype313 |
But doesn't Evans charge us interest on the loans? And charges us rent for Playford Road. |
No, Evans hasn’t been allowed to charge interest for years under football finance rules
And yes he does charge rent on Playford Road, but it was in return for over £1m which went towards avoiding FFP penalties. Think Phil covered it at the time [Post edited 26 Feb 2021 21:06]
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| How rich are the new owners? on 21:05 - Feb 26 with 3066 views | PrideOfTheEast |
| How rich are the new owners? on 20:59 - Feb 26 by hype313 |
But doesn't Evans charge us interest on the loans? And charges us rent for Playford Road. |
No he doesn’t charge interest and hasn’t since 2012. Even then it was simply added to the loans that he’s now about to write off. Hasn’t taken money out of the club.
The rent to the training ground was a tiny amount and the whole structure done for a tax benefit (when he eventually develops the land he retains). [Post edited 26 Feb 2021 21:05]
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| How rich are the new owners? on 21:07 - Feb 26 with 3053 views | PrideOfTheEast |
| How rich are the new owners? on 21:00 - Feb 26 by pointofblue |
So if they don't get the club into the position to generate money then what? Sell the training ground?
Maybe we should be thankful the Portman Road land is owned by the council. |
The risk is always they turn the money off. | | | |
| How rich are the new owners? on 21:08 - Feb 26 with 3048 views | pointofblue |
| How rich are the new owners? on 21:07 - Feb 26 by PrideOfTheEast |
The risk is always they turn the money off. |
Evans is supposedly keeping an investment in the club - I wonder if he'd take over again in that scenario as he desperately tries to get a return out of us? | |
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| How rich are the new owners? on 21:10 - Feb 26 with 3040 views | PrideOfTheEast |
| How rich are the new owners? on 21:08 - Feb 26 by pointofblue |
Evans is supposedly keeping an investment in the club - I wonder if he'd take over again in that scenario as he desperately tries to get a return out of us? |
I had thought the same and yes I think he probably would. It’s a very good thing he’s retaining a stake in my view. Not many clubs have individuals with money like him attached to them. | | | |
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| How rich are the new owners? on 21:10 - Feb 26 with 3038 views | nodge_blue |
| How rich are the new owners? on 20:58 - Feb 26 by PrideOfTheEast |
It’s effectively all the things those less informed have (incorrectly) claimed Evans was doing (charging interest, taking money out etc) but they will be very open in doing so.
The plus is that they’ll be solely focused on financial return. You only get that in football if you’re at the top level. They will give themselves the best possible chance of achieving that and do things that Evans hasn’t - appointing and empowering football people for example.
The risk is obviously we go nowhere and the tap is turned off. That was never going to happen with Evans but he was happy spending 6m a year to sit in the Championship.
We wait to hear the detail but make no mistake, it’s a massive gamble if the club doesn’t have protection. |
Think I'm in agreement with what you've said but I wasn't sure of my ground.
If the consortium needs the pension money to buy the club and fund some player investment then it feels like all that debt will be put straight onto the club. | |
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| How rich are the new owners? on 21:13 - Feb 26 with 3024 views | Keaneish |
| How rich are the new owners? on 20:18 - Feb 26 by JakeITFC |
I wouldn’t worry about the pension fund bit - the new owners will just be raising capital from a number of different sources.
The key is whether they can accelerate our growth as a football club quickly enough to satisfy the terms of the funding they’ve raised. In that respect, a pension fund is probably a good place for the money to come from as they won’t be after crippling interest or get rich quick returns.
Ultimately that’s the key thing here - can we get promoted and increase revenue streams within the timescales of any initial capital constraints from this funding round to either allow for us to pay off the debt and remain solvent and sustainable, be suitable for further capital investment/refinancing of debt or potentially be sold for a profit. |
A pension fund is the ideal place to get investment from at the moment. As sad as it is, pension funds are raking it in not needing to pay pensions for all those who e passed due to COVID; the cold reality of economics. [Post edited 26 Feb 2021 22:23]
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| How rich are the new owners? on 21:37 - Feb 26 with 2989 views | JakeITFC |
| How rich are the new owners? on 21:10 - Feb 26 by nodge_blue |
Think I'm in agreement with what you've said but I wasn't sure of my ground.
If the consortium needs the pension money to buy the club and fund some player investment then it feels like all that debt will be put straight onto the club. |
Yup - they are borrowing £10m which will cost them £12m, but they are confident that they are skilled enough to make the £10m into £15m (numbers made up).
All well and good if it goes to plan and everyone wins, but there are a lot of football league clubs who have been left holding the bag in these situations in recent times and that is the inevitable risk in a funding model like this. |  | | |
| How rich are the new owners? on 22:15 - Feb 26 with 2950 views | DerryfromBury |
| How rich are the new owners? on 20:10 - Feb 26 by MattinLondon |
So, we’re not going to spend £100 million getting out of L1, £500 million to win the championship and £2 billion on winning the Premier League and champions league? [Post edited 26 Feb 2021 20:11]
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Exactly. A bunch of spives (sorry sales executives) telling other people they know best how to invest/spend their cash. |  | | |
| How rich are the new owners? on 22:18 - Feb 26 with 2936 views | Terra_Farma |
| How rich are the new owners? on 20:03 - Feb 26 by ElderGrizzly |
Nowhere near Evans personally. They aren't investing their own money.
They've also said they are buying us to flip and re-sell for a profit. This is going to be the opposite of a Sugar-Daddy approach. |
"They've also said they are buying us to flip and re-sell for a profit"
Where? | | | |
| How rich are the new owners? on 22:19 - Feb 26 with 2933 views | SpruceMoose |
| How rich are the new owners? on 22:18 - Feb 26 by Terra_Farma |
"They've also said they are buying us to flip and re-sell for a profit"
Where? |
eBay? |  |
| Pronouns: He/Him/His.
"Imagine being a heterosexual white male in Britain at this moment. How bad is that. Everything you say is racist, everything you say is homophobic. The Woke community have really f****d this country." | | Poll: | Selectamod |
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| How rich are the new owners? on 22:27 - Feb 26 with 2907 views | Terra_Farma |
| How rich are the new owners? on 22:19 - Feb 26 by SpruceMoose |
eBay? |
I tee em' up, you hit them Spruce. | | | |
| How rich are the new owners? on 22:28 - Feb 26 with 2901 views | SpruceMoose |
| How rich are the new owners? on 22:27 - Feb 26 by Terra_Farma |
I tee em' up, you hit them Spruce. |
I'll also be bidding to up the price when the day comes! Hopefully I won't win the auction or else I'll be hitting you up for a tenner or two... | |
| Pronouns: He/Him/His.
"Imagine being a heterosexual white male in Britain at this moment. How bad is that. Everything you say is racist, everything you say is homophobic. The Woke community have really f****d this country." | | Poll: | Selectamod |
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| How rich are the new owners? on 22:34 - Feb 26 with 2881 views | BanksterDebtSlave |
| How rich are the new owners? on 20:30 - Feb 26 by Joey_Joe_Joe_Junior |
Why are you worried about pension funds? Those involved in the takeover manage other people’s money to get a return on investment. Their interest will be money motivated. That is obviously linked to the success of the club. Do you really care if they are all logging onto iFollow from Southern California? Who else has been knocking on Evans door with an offer? |
You aren't worried....now I'm really worried! |  |
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| How rich are the new owners? on 10:38 - Feb 27 with 2676 views | longtimefan |
| How rich are the new owners? on 21:13 - Feb 26 by Keaneish |
A pension fund is the ideal place to get investment from at the moment. As sad as it is, pension funds are raking it in not needing to pay pensions for all those who e passed due to COVID; the cold reality of economics. [Post edited 26 Feb 2021 22:23]
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I don’t really think that Covid has made much difference to Pension funds. If you take the UK figures the number of people who have died is less than 1% of UK pensioners, many of whom probably don’t have a personal pension and are reliant on the state pension. Plus it’s not as if the pension companies will have their exposure completely cancelled. Many pensions will continue to pay a spouse a pension, some will pay death benefits (particularly if death occurs before the onset of payments), and in the modern world of drawdown the pension will form part of the deceased estate. | | | |
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