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But it was never a debt in real terms, it was the amount of money he was prepared to pay to fund us on an ongoing basis. For tax reasons (I assume) it was classed as a loan rather than money given over. Maybe football regulations had something to do with this too?
People always seemed to get very hung up on the debt figure, can't believe Evans ever really thought he would see any of it back unless by some miracle we had three or four Prem years.
No idea when I began here, was a very long time ago. Previously known as Spirit_of_81. Love cheese, hate the colour of it, this is why it requires some blue in it.
No-one would buy the club with £100m of debt attached, so if/when the takeover goes ahead it will be with the debt written off. This way Evans gets something back from his investment and stops losing £7m a year. It's fortunate that the debt is owed to Evans, if it was external debt then we could only do this by going into administration.
Marcus Evans potentially writing off all of the debt owed to him on 16:41 - Mar 3 by Coastalblue
But it was never a debt in real terms, it was the amount of money he was prepared to pay to fund us on an ongoing basis. For tax reasons (I assume) it was classed as a loan rather than money given over. Maybe football regulations had something to do with this too?
People always seemed to get very hung up on the debt figure, can't believe Evans ever really thought he would see any of it back unless by some miracle we had three or four Prem years.
We haven't had this much debt all along though - had his initial plan worked we'd have gone up in the first 3 years or so and the club would have been worth a lot more than his investment. Same plan again with the new owners but from a much lower starting point!
Isn’t it the case that the original deal between him and Sheepy meant he could never sell the club for more than he paid for it..?
In the spirit of reconciliation and happiness at the end of the Banter Era (RIP) and as a result of promotion I have cleared out my ignore list. Look forwards to reading your posts!
Marcus Evans potentially writing off all of the debt owed to him on 16:47 - Mar 3 by chrismakin
Could it be a simple case of whatever the Americans have planned. His 5% stake IS the debt value.
Evans is never getting what he’s put in back, the club wouldn’t be sellable on the basis of having to pay him £100m or still owe it. It’s simply a pragmatic call of cutting his losses or accepting that he’s put in the money as a cost of running the club for the time he’s been here
Only he’ll know the exact motivations of keeping a 5% stake but presumably he either still wants to have a small interest or sees it as a way of getting more down the line should the new owners be successful in raising the value
Highlighting crass stupidity since sometime around 2010
Marcus Evans potentially writing off all of the debt owed to him on 16:42 - Mar 3 by Charlie_pl_baxter
No-one would buy the club with £100m of debt attached, so if/when the takeover goes ahead it will be with the debt written off. This way Evans gets something back from his investment and stops losing £7m a year. It's fortunate that the debt is owed to Evans, if it was external debt then we could only do this by going into administration.
Exactly as I was explaining to the wife over lunch. Had it not been for ME (like him or not) we would have been insolvent many moons ago.
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Marcus Evans potentially writing off all of the debt owed to him on 17:40 - Mar 3 with 1550 views
Marcus Evans potentially writing off all of the debt owed to him on 17:36 - Mar 3 by DerryfromBury
Exactly as I was explaining to the wife over lunch. Had it not been for ME (like him or not) we would have been insolvent many moons ago.
Altho apart from putting in a bit of lifeboat money every year. Hes barely put any time into the club.
Football structure wrong Player contracts wrong Academy set up wrong Supporter links wrong Commercial activity non existent Community involvement.. thrown away
He's put in 100m, he can recoup between 17m of that from the sale, X from the land near the training ground and then 5% of any future potential upside if we reach the PL.
He was never going to get his 100m back and he knew that so this way he gets back probably 25% to 30% of that and a speculative stake which could be worth zero or something decent in the future.
SB
Avatar - IC410 - Tadpoles Nebula
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Marcus Evans potentially writing off all of the debt owed to him on 17:48 - Mar 3 with 1527 views
Marcus Evans potentially writing off all of the debt owed to him on 17:36 - Mar 3 by DerryfromBury
Exactly as I was explaining to the wife over lunch. Had it not been for ME (like him or not) we would have been insolvent many moons ago.
Actually we were insolvent many moons ago...that is how Evans was able to step in and buy Ipswich Town in the way he did.
As for the debt that is owed to him I expect that if fortunes take a turn for the better and the club is flush with cash there will be a clause that Evans can exercise to kick off repayments, it is not just the Mafia that turn up mob handed.
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