£17.5M profit last year.

[Millhousesblade1889]

B-U-L-L-S-H-I-T

I’m all for a debate. It’s a forum, give your side instead of using abusive language.

 

[PokerBlade]

The Prince has a personal wealth of say £200 million and a football club, that doesn't own its own ground etc.

He then uses club income to fund the purchase of assets from McCabe. He now has £200 million and a more valuable club if he sells it. (Although the value of football clubs can go down as well as up.)

This money could have been used in other ways - signings, wages, improving facilities etc., if it wasn't being spent to pay money owed to the previous owner by the current owner. I don't see where this benefits the club.

Sounds like the previous owner really didn't do us much of a favour in the long run by separating those assets from the club.

 

[Bladeloyal]

The Prince has a personal wealth of say £200 million and a football club, that doesn't own its own ground etc.

He then uses club income to fund the purchase of assets from McCabe. He now has £200 million and a more valuable club if he sells it. (Although the value of football clubs can go down as well as up.)

This money could have been used in other ways - signings, wages, improving facilities etc., if it wasn't being spent to pay money owed to the previous owner by the current owner. I don't see where this benefits the club.

Under the ownership court ruling he had to buy the assets .at a fixed fee ,shame the judge didn't rule on the two plots of land .McCabe had separated from the lane footprint .

 

[MobileBlade]

The Prince has a personal wealth of say £200 million and a football club, that doesn't own its own ground etc.

He then uses club income to fund the purchase of assets from McCabe. He now has £200 million and a more valuable club if he sells it. (Although the value of football clubs can go down as well as up.)

This money could have been used in other ways - signings, wages, improving facilities etc., if it wasn't being spent to pay money owed to the previous owner by the current owner. I don't see where this benefits the club.

You don't get it do you. I think, like many others, you are mixing cash up with assets.

 

[MobileBlade]

Sounds like the previous owner really didn't do us much of a favour in the long run by separating those assets from the club.

He wrote off a huge amount of borrowing and split the company into two. He took full ownership of the assets, the football club was split 50/50 with the Prince. He then got paid (£38m) for these assets. I don't know the figures but I bet the amount he put into the club was considerably more than £38m, although some of the loan he also supplied the club were at an interest rate that was maybe more than the banks would have offered! For all his faults, you cannot say he did not dip into his own back pocket.

 

[anglian blade]

He wrote off a huge amount of borrowing and split the company into two. He took full ownership of the assets, the football club was split 50/50 with the Prince. He then got paid (£38m) for these assets. I don't know the figures but I bet the amount he put into the club was considerably more than £38m, although some of the loan he also supplied the club were at an interest rate that was maybe more than the banks would have offered! For all his faults, you cannot say he did not dip into his own back pocket.

However being a property man splitting the property from the club would have allowed him to cash in on the property value whenever he no longer wanted to dip into his back pocket.

We were only a small step from being another Coventry.

 

[Addison]

Under the ownership court ruling he had to buy the assets .at a fixed fee ,shame the judge didn't rule on the two plots of land .McCabe had separated from the lane footprint .

The Judgement required the Prince to purchase the property options within a 12 month timescale. The cost of these were determined by binding arbitration in June 2020, figures were not disclosed. The Judge could not order the purchase of the Kop Land sites. It transpired they were never included in the property options that formed part of the Investors Share Agreement that both parties signed up to in 2013. Whether the Prince was aware of this at the time or found out post judgement is a matter of conjecture.

 

[cc1]

Would replacing BDTBL with a Tesco go on the asset sheet if we still owned the land?

 

[corner_flag]

I really don't understand all the posters defending the Prince so vigorously - he has not put any money in from his own pocket since the £1 he spent to buy the club - by owning the club, he has been able to use the profits from the club to buy assets, which he also now owns.

But as he had neither the ambition or financial clout to spend enough to make us relatively secure in the Prem, we are about to be relegated, with a squad of duds and aging players. The only person to have benefited from our two years in the premier league is PA

He will not be dipping into his personal fortune (I refer you to the court case - he hasn't got one) to spend money to get us back into prem.
He has already spent the parachute money.

You can flame me for this in a year if I am wrong - but I'm betting he will spend less on transfers than he brings in on sales and the players he brings in will not be high wage earners, and either young or barely Championship quality. Without a manager who can spin gold out of straw, we are more likely to go down than back up in 2022.

 

[Flatulent_Bob]

I really don't understand all the posters defending the Prince so vigorously - he has not put any money in from his own pocket since the £1 he spent to buy the club - by owning the club, he has been able to use the profits from the club to buy assets, which he also now owns.

But as he had neither the ambition or financial clout to spend enough to make us relatively secure in the Prem, we are about to be relegated, with a squad of duds and aging players. The only person to have benefited from our two years in the premier league is PA

He will not be dipping into his personal fortune (I refer you to the court case - he hasn't got one) to spend money to get us back into prem.
He has already spent the parachute money.

You can flame me for this in a year if I am wrong - but I'm betting he will spend less on transfers than he brings in on sales and the players he brings in will not be high wage earners, and either young or barely Championship quality. Without a manager who can spin gold out of straw, we are more likely to go down than back up in 2022.

I don't think they are defending the Prince, they're just calling out nonsense and complete untruths.
Further proven by the fact you can't support your comments and therefore ignore very logical responses asking for you to explain, and now you are peddling blatant lies to try and have a go at the owners? As a fan of the club why do that?
You say correctly that comparatively to the other owners he isn't wealthy and then seem to want him to spend money he doesn't have?
So you want him to risk the future of the club by overspending massively with money we've no way of recuperating and when we get relegated we're fucked.
Again, why would you do that if you're a fan? Even Wilder didn't support that view of how things should be done and thought it irresponsible.

 

[Bladeloyal]

I really don't understand all the posters defending the Prince so vigorously - he has not put any money in from his own pocket since the £1 he spent to buy the club - by owning the club, he has been able to use the profits from the club to buy assets, which he also now owns.

But as he had neither the ambition or financial clout to spend enough to make us relatively secure in the Prem, we are about to be relegated, with a squad of duds and aging players. The only person to have benefited from our two years in the premier league is PA

He will not be dipping into his personal fortune (I refer you to the court case - he hasn't got one) to spend money to get us back into prem.
He has already spent the parachute money.

You can flame me for this in a year if I am wrong - but I'm betting he will spend less on transfers than he brings in on sales and the players he brings in will not be high wage earners, and either young or barely Championship quality. Without a manager who can spin gold out of straw, we are more likely to go down than back up in 2022.

One English pound you say .wasn't he contracted to put in at least 15 m and I'm sure more went in after that .I'm sure one of our accountant savvy blades will be along shortly to put you right .

 

[I should coco]

Clubs should be run with passion, set up to compete and win trophies, not as cash cows for owners.

Great shout.

So when we make losses year after year, to show our 'pashun', who funds the losses?

Are we back to the Money Tree again?

 

[Danetheblade]

I really don't understand all the posters defending the Prince so vigorously - he has not put any money in from his own pocket since the £1 he spent to buy the club - by owning the club, he has been able to use the profits from the club to buy assets, which he also now owns.

But as he had neither the ambition or financial clout to spend enough to make us relatively secure in the Prem, we are about to be relegated, with a squad of duds and aging players. The only person to have benefited from our two years in the premier league is PA

He will not be dipping into his personal fortune (I refer you to the court case - he hasn't got one) to spend money to get us back into prem.
He has already spent the parachute money.

You can flame me for this in a year if I am wrong - but I'm betting he will spend less on transfers than he brings in on sales and the players he brings in will not be high wage earners, and either young or barely Championship quality. Without a manager who can spin gold out of straw, we are more likely to go down than back up in 2022.

Pretty sure he actually put the extra money in to buy MCB as Mccunt didn't fancy it...

 

[rompodebailey]

One English pound you say .wasn't he contracted to put in at least 15 m and I'm sure more went in after that .I'm sure one of our accountant savvy blades will be along shortly to put you right .

I feel the figure was higher, JimPhipps may be the best person to put some basic meat on the bone, on this particular subject.

 

[Niceguyeddie]

I really don't understand all the posters defending the Prince so vigorously - he has not put any money in from his own pocket since the £1 he spent to buy the club - by owning the club, he has been able to use the profits from the club to buy assets, which he also now owns.

But as he had neither the ambition or financial clout to spend enough to make us relatively secure in the Prem, we are about to be relegated, with a squad of duds and aging players. The only person to have benefited from our two years in the premier league is PA

He will not be dipping into his personal fortune (I refer you to the court case - he hasn't got one) to spend money to get us back into prem.
He has already spent the parachute money.

You can flame me for this in a year if I am wrong - but I'm betting he will spend less on transfers than he brings in on sales and the players he brings in will not be high wage earners, and either young or barely Championship quality. Without a manager who can spin gold out of straw, we are more likely to go down than back up in 2022.

He was putting 5 million a season in league one.and ten million.a season in the championship to cover losses and stop us from.going bankrupt

 

[Nagima]

I really don't understand all the posters defending the Prince so vigorously - he has not put any money in from his own pocket since the £1 he spent to buy the club - by owning the club, he has been able to use the profits from the club to buy assets, which he also now owns.

But as he had neither the ambition or financial clout to spend enough to make us relatively secure in the Prem, we are about to be relegated, with a squad of duds and aging players. The only person to have benefited from our two years in the premier league is PA

He will not be dipping into his personal fortune (I refer you to the court case - he hasn't got one) to spend money to get us back into prem.
He has already spent the parachute money.

You can flame me for this in a year if I am wrong - but I'm betting he will spend less on transfers than he brings in on sales and the players he brings in will not be high wage earners, and either young or barely Championship quality. Without a manager who can spin gold out of straw, we are more likely to go down than back up in 2022.

Of course we will spend less on transfers than what we bring in. That's is how it works when a club gets relegated from the PL.

 

[Sean Thornton]

Would replacing BDTBL with a Tesco go on the asset sheet if we still owned the land?

Are you new to the forum? It was always Kevs plan to build luxury housing on the site of BL because of the huge value of the land. The waiting list to move the ground was huge, mainly of people from Dore and Fulwood who wanted a better standard of life.......

 

[Sean Thornton]

One English pound you say .wasn't he contracted to put in at least 15 m and I'm sure more went in after that .I'm sure one of our accountant savvy blades will be along shortly to put you right .

The £1 was for the Blades Leisure 50% shareholding. He's since put in a minimum of £16.5m and paid McCabe £5m for his shares

 

[Sean Thornton]

However being a property man splitting the property from the club would have allowed him to cash in on the property value whenever he no longer wanted to dip into his back pocket.

We were only a small step from being another Coventry.

He took the equivalent amount of debt with him. The company that owned the assets also owned the club. Nothing like Coventry at all.

 

[corner_flag]

Of course we will spend less on transfers than what we bring in. That's is how it works when a club gets relegated from the PL.

If we are a promotion chasing team, we need to spend more than we make on transfers
We've got a squad that's barely championship level. If we sell our best and bring in cheaper (less good) players, we are accepting a future in the championship, or lower

 

[Danetheblade]

If we are a promotion chasing team, we need to spend more than we make on transfers
We've got a squad that's barely championship level. If we sell our best and bring in cheaper (less good) players, we are accepting a future in the championship, or lower

That's not true though is it?

MCB - top goalscorer before joining us.
Brewster - similar scoring stats to MCB (if averaged out for a full season)
Baldock - easily premier League quality
Ramsdale - will arguably be the best goalkeeper in the league
Basham - solid in the league below
I could go on, but the team we have is absolutely littered with top championship quality WITH room to improve.

 

[corner_flag]

Great shout.

So when we make losses year after year, to show our 'pashun', who funds the losses?

Are we back to the Money Tree again?

A football team is more like a church than a grocers shop. It is about dreams and beliefs.

 

[corner_flag]

One English pound you say .wasn't he contracted to put in at least 15 m and I'm sure more went in after that .I'm sure one of our accountant savvy blades will be along shortly to put you right .

It wasn't his money though was it? He had to call up family favours to cover that

 

[Pedro Verde]

If we are a promotion chasing team, we need to spend more than we make on transfers

It depends on who stays and who goes
If Berge Egan and JOC go we should get between 60/70m in for those three, that is more than enough to build a promotion squad. You dont have to spend a fortune to get out of the Championship and spending a fortune doesnt guarantee promotion just look over towards S6 for an example

 

[Nagima]

If we are a promotion chasing team, we need to spend more than we make on transfers
We've got a squad that's barely championship level. If we sell our best and bring in cheaper (less good) players, we are accepting a future in the championship, or lower

Do you actually know the difference between PL and the Championship?.
If we sell Berge for 25M. You expect us to spend 30M. We will be buying championship or league 1 players who exhibit potential. We are talking about 5M to 8M max for a top player.
The squad is more than capable for a championship push provided we buy midfielders.

 

[Houston_Blade]

I really don't understand all the posters defending the Prince so vigorously - he has not put any money in from his own pocket since the £1 he spent to buy the club - by owning the club, he has been able to use the profits from the club to buy assets, which he also now owns.

But as he had neither the ambition or financial clout to spend enough to make us relatively secure in the Prem, we are about to be relegated, with a squad of duds and aging players. The only person to have benefited from our two years in the premier league is PA

He will not be dipping into his personal fortune (I refer you to the court case - he hasn't got one) to spend money to get us back into prem.
He has already spent the parachute money.

You can flame me for this in a year if I am wrong - but I'm betting he will spend less on transfers than he brings in on sales and the players he brings in will not be high wage earners, and either young or barely Championship quality. Without a manager who can spin gold out of straw, we are more likely to go down than back up in 2022.

I’ve not seen many defending him. Just correcting people for talking bollocks about how much money he’s apparently making out of the club. I suppose people will always accuse chairmen as they don’t understand what they are reading/told.

McCabe was frequently accused of robbing the club for personal gain and the narrative seems to have continued with Abdullah.

You’re probably right in that we’ll spend less than we bring in. I wouldn’t blame him after the last few years though. No point throwing good money after bad.

 

[PageHallBlade]

And they clearly dislike him because of this. Danny Hall is still in mourning over wilder

you think Danny is bad Alan Biggs is practically suicidal

 

[Revolution]

you think Danny is bad Alan Biggs is practically suicidal

One interesting thing to see with the new manager is whether the local media will, when the occasion demands it, write critically of him or ask difficult questions: with the exception of one or two journalists this has been off the agenda in the Wilder era despite ample scope for it in the last year.

I think one of the reasons why the Prince has largely ignored local media when making himself available for interview or comment is that he perceives them as Wilders men.

 

[Rodley]

We’ve secured some loans against future income reportedly to allow PA to buy the ground off McCabe. If it’s the parachute payments, does that mean all or a proportion of those are going straight out to service the debt?

If so, doesn’t this mean our huge competitive advantage (parachute payments) in the Championship could be gone already?

If doing plenty of heavy lifting I know, but is this why the rhetoric about working to a budget and bringing youth through is the name of the game?

I’m only speculating but because we’ve effectively circumvented the “traditional” approach of a new owner buying the club (incl. assets) off the other, how the above works is critical for our future. Unfortunately we’re a few sets of accounts away from knowing.

 

[Houston_Blade]

We’ve secured some loans against future income reportedly to allow PA to buy the ground off McCabe. If it’s the parachute payments, does that mean all or a proportion of those are going straight out to service the debt?

If so, doesn’t this mean our huge competitive advantage (parachute payments) in the Championship could be gone already?

If doing plenty of heavy lifting I know, but is this why the rhetoric about working to a budget and bringing youth through is the name of the game?

I’m only speculating but because we’ve effectively circumvented the “traditional” approach of a new owner buying the club (incl. assets) off the other, how the above works is critical for our future. Unfortunately we’re a few sets of accounts away from knowing.

We don’t know the repayment profile so it’s hard to tell. It’s very unlikely that we’ll be repaying at a rate that would tie a lot of parachute money up though.

Pure speculation here but the mortgage might have a clause where we pay back over a longer period if we’re not in the PL to allow for reduced income. It could also have the opposite clause as the risk to the bank increases upon relegation so they might want paying back more quickly.