Forum | So, the debt? Some key questions, as it hasn't been entirely waived by ElderGrizzly

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So, the debt? Some key questions, as it hasn't been entirely waived 12:01 - Apr 7 with 1221 views

This quote looks like we have simply shifted the debt from Evans to the new owners:

"leaving the Club with a much smaller debt burden and with nearly all Club debt owed to the new owners." #itfc

1. How much debt still remains?
2. Has the price paid to Evans just been added to our balance sheet as Â£40m debt?
3. Who else is debt owed to outside of the new owners?

So, the debt? Some key questions, as it hasn't been entirely waived on 12:02 - Apr 7 with 1174 views

LeoMuff

Yes that was the bit that concerned me...

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So, the debt? Some key questions, as it hasn't been entirely waived on 12:04 - Apr 7 with 1149 views

chrismakin

Quite clever of ME

He now has a share in gamechanger and the debt is now owed to them not him. He can put in a less money than he has and still at the end of it get a payout on the debt.

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So, the debt? Some key questions, as it hasn't been entirely waived on 12:05 - Apr 7 with 1127 views

J2BLUE

1) significantly reduced
2) not sure
3) Almost none

Read the statement!

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So, the debt? Some key questions, as it hasn't been entirely waived on 12:06 - Apr 7 with 1101 views

wkj

After looking at how Burnley's takeover was structured (they paid for their own takeover)

I am confident this isn't as obnoxious, though it certainly has the potential to be when the deep dive of the deal comes to light.

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So, the debt? Some key questions, as it hasn't been entirely waived on 12:06 - Apr 7 with 1092 views

JakeITFC

1) Reads as though Evans has written off the entirety of his debt, but been paid £40m to do so.
2) Yes, I would imagine that is the case - it is a lower debt but it is worse in that it will have to be serviced and so is there is probably more urgency in us becoming a club that makes money
3) Possibly just referencing that 5% is still owed to Evans?

So, the debt? Some key questions, as it hasn't been entirely waived on 12:06 - Apr 7 with 1099 views

PhilTWTD

There was some debt still owed to loan note holders under ME so that could be that, athough is only a couple of million. Could be some to Marcus in addition to that, of course.

So, the debt? Some key questions, as it hasn't been entirely waived on 12:25 - Apr 7 with 869 views

ElderGrizzly

So, the debt? Some key questions, as it hasn't been entirely waived on 12:05 - Apr 7 by J2BLUE
1) significantly reduced 2) not sure 3) Almost none Read the statement!

I did. Twice. That's why I posted the questions

I asked "who?" in point 3 by the way! :)

So, the debt? Some key questions, as it hasn't been entirely waived on 12:28 - Apr 7 with 811 views

ElderGrizzly

So, the debt? Some key questions, as it hasn't been entirely waived on 12:06 - Apr 7 by JakeITFC
1) Reads as though Evans has written off the entirety of his debt, but been paid £40m to do so. 2) Yes, I would imagine that is the case - it is a lower debt but it is worse in that it will have to be serviced and so is there is probably more urgency in us becoming a club that makes money 3) Possibly just referencing that 5% is still owed to Evans?

Point/answer 2 is what concerns me. They can't charge interest, but it will certainly focus their minds in delivering a profitable club and quickly.

A bit like Burnley?

https://www.theguardian.com/football/2021/feb/02/burnley-us-takeover-has-left-cl

We will lose money in L1 and Championship, so this deal only works with PL football.

So, the debt? Some key questions, as it hasn't been entirely waived on 12:30 - Apr 7 with 768 views

ElderGrizzly

So, the debt? Some key questions, as it hasn't been entirely waived on 12:06 - Apr 7 by PhilTWTD
There was some debt still owed to loan note holders under ME so that could be that, athough is only a couple of million. Could be some to Marcus in addition to that, of course.

All will become clear with those first set of accounts!

So, the debt? Some key questions, as it hasn't been entirely waived on 12:32 - Apr 7 with 747 views

ElderGrizzly

So, the debt? Some key questions, as it hasn't been entirely waived on 12:06 - Apr 7 by wkj
After looking at how Burnley's takeover was structured (they paid for their own takeover) I am confident this isn't as obnoxious, though it certainly has the potential to be when the deep dive of the deal comes to light.

Man Utd were the same effectively too, just on a larger scale.

The big positive is this takeover only works if we get PL football, as that is the only way to make a profit. It will be very interesting how much they'll gamble to get there.

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