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Only £400K of debt left 10:01 - Apr 8 with 1932 viewsGeoffSentence

That's encouraging.

Out damned scot Out I say
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Only £400K of debt left on 10:08 - Apr 8 with 1886 viewsHerbivore

£20.4m technically I think, as we will likely owe the £20m paid off to ME to the new owners. I imagine that'll be how it works, but could be wrong. The £400k is the only debt not owed to the new owners.

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Only £400K of debt left on 10:10 - Apr 8 with 1861 viewschrismakin

Only £400K of debt left on 10:08 - Apr 8 by Herbivore

£20.4m technically I think, as we will likely owe the £20m paid off to ME to the new owners. I imagine that'll be how it works, but could be wrong. The £400k is the only debt not owed to the new owners.


I maybe wrong. But could the 400k be season ticket refunds....?

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Only £400K of debt left on 10:19 - Apr 8 with 1780 viewslongtimefan

Only £400K of debt left on 10:10 - Apr 8 by chrismakin

I maybe wrong. But could the 400k be season ticket refunds....?


£44.44 each!
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Only £400K of debt left on 10:20 - Apr 8 with 1764 viewschrismakin

Only £400K of debt left on 10:19 - Apr 8 by longtimefan

£44.44 each!


I was thinking of maybe the ifollow fees as part refunds ( the difference between what the efl and the club takes) and this is what's left to cover.

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Only £400K of debt left on 10:26 - Apr 8 with 1722 viewsGuthrum

Only £400K of debt left on 10:10 - Apr 8 by chrismakin

I maybe wrong. But could the 400k be season ticket refunds....?


Or the remaining shareholding relating to the PLC?

Good Lord! Whatever is it?
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Only £400K of debt left on 10:27 - Apr 8 with 1712 viewsPJH

Only £400K of debt left on 10:26 - Apr 8 by Guthrum

Or the remaining shareholding relating to the PLC?


As it seems to say in the interview.
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Only £400K of debt left on 10:27 - Apr 8 with 1701 viewschrismakin

Only £400K of debt left on 10:27 - Apr 8 by PJH

As it seems to say in the interview.


Oh sorry I missed that

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Only £400K of debt left on 10:44 - Apr 8 with 1620 viewsPinewoodblue

Only £400K of debt left on 10:26 - Apr 8 by Guthrum

Or the remaining shareholding relating to the PLC?


Memory might be fuzzy but thought the bonds taken out around the time of administration remained with the runt company .ITFC PLC although they were serviced by the new company. I assume that IFFC PLC still owes £400k to bond holders and, in turn, the new owners still owe the £400k to the PLC.

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Only £400K of debt left on 10:50 - Apr 8 with 1555 viewsPhilTWTD

Only £400K of debt left on 10:44 - Apr 8 by Pinewoodblue

Memory might be fuzzy but thought the bonds taken out around the time of administration remained with the runt company .ITFC PLC although they were serviced by the new company. I assume that IFFC PLC still owes £400k to bond holders and, in turn, the new owners still owe the £400k to the PLC.


I was wondering about that, that was the only non-ME debt the club had. I'm guessing that the £400,000 relates to that. From the 2019/20 PLC accounts:

The Company continues to pay interest to its external loan note holders, which amounted to £35,000 (2019:£46,000) during the year.

To fund these payments, the Company has back to back loan notes in place with ITFC, under which the Company received £35,000 (2019:£46,000) of interest during the year.

As at 30 June 2020, the Company had external loan notes in issue of £485,000 (2019:£647,000) and back to back loan notes with ITFC of £485,000 (2019:£647,000).

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Only £400K of debt left on 10:55 - Apr 8 with 1495 viewschrismakin

Only £400K of debt left on 10:50 - Apr 8 by PhilTWTD

I was wondering about that, that was the only non-ME debt the club had. I'm guessing that the £400,000 relates to that. From the 2019/20 PLC accounts:

The Company continues to pay interest to its external loan note holders, which amounted to £35,000 (2019:£46,000) during the year.

To fund these payments, the Company has back to back loan notes in place with ITFC, under which the Company received £35,000 (2019:£46,000) of interest during the year.

As at 30 June 2020, the Company had external loan notes in issue of £485,000 (2019:£647,000) and back to back loan notes with ITFC of £485,000 (2019:£647,000).

This post has been edited by an administrator


Phil. is it PC press conference today

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Only £400K of debt left on 10:56 - Apr 8 with 1491 viewsPhilTWTD

Only £400K of debt left on 10:55 - Apr 8 by chrismakin

Phil. is it PC press conference today


No, tomorrow.
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Only £400K of debt left on 12:08 - Apr 8 with 1191 viewsMJallday

Only £400K of debt left on 10:56 - Apr 8 by PhilTWTD

No, tomorrow.


Are you allowed back in yet?

That would be the second positive move that’s happened this week to the club

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Only £400K of debt left on 12:14 - Apr 8 with 1152 viewsRadioOrwell

Only £400K of debt left on 12:08 - Apr 8 by MJallday

Are you allowed back in yet?

That would be the second positive move that’s happened this week to the club


I believe it was a lifetime ban. Although I might have made that up.
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Only £400K of debt left on 12:25 - Apr 8 with 1089 viewsPhilTWTD

Only £400K of debt left on 12:08 - Apr 8 by MJallday

Are you allowed back in yet?

That would be the second positive move that’s happened this week to the club


Thanks. Yes, I've been back since the Accrington game.
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Only £400K of debt left on 12:28 - Apr 8 with 1049 viewsElderGrizzly

Only £400K of debt left on 10:08 - Apr 8 by Herbivore

£20.4m technically I think, as we will likely owe the £20m paid off to ME to the new owners. I imagine that'll be how it works, but could be wrong. The £400k is the only debt not owed to the new owners.


I think we'll see £40m on the books as debt once accounts are published.

Everything appears to present as a leveraged buy-out, so we have basically paid for our own sale and the cost of that will appear as a debt on our books?

A bit like Man Utd, Burnley etc.
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Only £400K of debt left on 14:24 - Apr 8 with 756 viewsWD19

That was yesterday. Its £500k today.
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Only £400K of debt left on 14:27 - Apr 8 with 742 viewsHerbivore

Only £400K of debt left on 12:28 - Apr 8 by ElderGrizzly

I think we'll see £40m on the books as debt once accounts are published.

Everything appears to present as a leveraged buy-out, so we have basically paid for our own sale and the cost of that will appear as a debt on our books?

A bit like Man Utd, Burnley etc.


I wouldn't be surprised if that is the case. It still boggles my mind that you can actually do that.

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Only £400K of debt left on 14:32 - Apr 8 with 724 viewsGeoffSentence

Only £400K of debt left on 12:28 - Apr 8 by ElderGrizzly

I think we'll see £40m on the books as debt once accounts are published.

Everything appears to present as a leveraged buy-out, so we have basically paid for our own sale and the cost of that will appear as a debt on our books?

A bit like Man Utd, Burnley etc.


That would be something of a concern, but is there anything to suggest it is the case?

Out damned scot Out I say
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Only £400K of debt left on 18:17 - Apr 8 with 498 viewsCharlie_pl_baxter

Only £400K of debt left on 12:28 - Apr 8 by ElderGrizzly

I think we'll see £40m on the books as debt once accounts are published.

Everything appears to present as a leveraged buy-out, so we have basically paid for our own sale and the cost of that will appear as a debt on our books?

A bit like Man Utd, Burnley etc.


That's not my read of it. From what they were saying the fund had repaid £21m of debt rather than bought the debt. This would mean that ME effectively got paid £19m for his equity stake and £21m of the debt back leaving the club with no debt owed bar the £400k. It would be good to have this confirmed though!
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