Cos dunt fit Laney agenda. SeemplesHow do you know that an asking price of £170m doesn’t break down as £90m to Prince and £80m to pay club debt?
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Cos dunt fit Laney agenda. SeemplesHow do you know that an asking price of £170m doesn’t break down as £90m to Prince and £80m to pay club debt?
Used to work for them, we sometimes dealt with prisoners but we had to remove certain pages from the books before sending them outMy mum was always asking me where the club books were……Kay’s ,Grattons,Freemans ect,
Weirdly,they always turned up under my bed and bizarrely one or two pages may have been stuck together in the ladies underwear section.
AyeThat's bollocks. The only thing you can buy on Worksop market is Varta batteries.
"That's it, rip out any page under Ladies, hold on and while your at it that one, Ladders".Used to work for them, we sometimes dealt with prisoners but we had to remove certain pages from the books before sending them out
We've got loads of money rolling in. We've had free millions from the Prem every season of sole owner Abdullah. We got £118M this season for finishing bottom. You can run a horse & cart through the accounts. Pretty much like any business accounts. No one came to see me to tell me I was a liar. So they are the liars. Plus for whoever posted it my wife doesn't have a blue rinse. She wouldn't be seen dead in one !Oh dear. More made up nonsense.
Non PL income amounted to £20m in the last accounts. Total income was £63m. So if, as you say, the £20m pays the loans, who pays the wages/cost of sales, (£57m per the accounts) if the £43m PL money is taken by UW?
(Then of course there are transfer payments, interest and £20m in admin costs. Oh, and losses to fund. Clearly no accountants on Table 18. Not even anyone with a calculator it seems)
You, err, or your wife, said the £118m went straight to United World. And the other money paid all the bills.We've got loads of money rolling in. We've had free millions from the Prem every season of sole owner Abdullah. We got £118M this season for finishing bottom. You can run a horse & cart through the accounts. Pretty much like any business accounts. No one came to see me to tell me I was a liar. So they are the liars. Plus for whoever posted it my wife doesn't have a blue rinse. She wouldn't be seen dead in one !
No refunds….Worksop market doing 3 for 2 on VHS of Tommas the Bank Engine, 100% legit
Sold Farta batteries from my stall. Knocked it off though as the profits stank….That's bollocks. The only thing you can buy on Worksop market is Varta batteries.
Looks exactly that. Plus I imagine we probably need some readies to cover wages and operational costs over the summer.New loan just dropped. Looks like we're effectively getting the rest of the Iliman money upfront (€14.5 million by the looks of it) with Marseille paying future instalments direct to Macquarie.
I'd imagine this is to make sure we can get some transfer business done without relying on tekova being completed first?
Shame that cos they were ideal for my Ring doorbellSold Farta batteries from my stall. Knocked it off though as the profits stank….
That's assuming the club/Prince is massively sure a takeover is 100% on. You would think he would be wary after previous dealingsNew loan just dropped. Looks like we're effectively getting the rest of the Iliman money upfront (€14.5 million by the looks of it) with Marseille paying future instalments direct to Macquarie.
I'd imagine this is to make sure we can get some transfer business done without relying on tekova being completed first?
Definitely an interesting question, I guess it must be a big risk and is a niche market albeit it seems to be a popular way of doing things. They seem to have the capital to invest, have a big share in Southern Water, KCOM Fibre (of Hull) and several other random markets. I wonder if it is that they are such a niche type of company with lots of cash that they can afford the risk.Why is it always Macquarie that's seems to provide these factoring services to football clubs? Seems quite lucrative so surprised there are not other banks competing for the business?
That's assuming the club/Prince is massively sure a takeover is 100% on. You would think he would be wary after previous dealings
Wasn’t it something to do with the fact most banks won’t get involved in football associated loans, Macquarie being one of only a very few that do, hence the high interest rates charges?Why is it always Macquarie that's seems to provide these factoring services to football clubs? Seems quite lucrative so surprised there are not other banks competing for the business?
Yes, think The Athletic did an article on them not so long agoWasn’t it something to do with the fact most banks won’t get involved in football associated loans, Macquarie being one of only a very few that do, hence the high interest rates charges?
Err no it doesn't, 7% flat on £10m is £700k per annum so on those figures that's £1.4m in total. I've not looked at the details but if it's 7% those loans must have been taken out b4 rates rocketed, I'd expect the rates to be nearer 10% now.Appreciate these loans are a necessity for football clubs these days, but the number of loans our club has took out over the last few years will have cost a few million in interest. £10m loan over two years at 7% equates to £440,000 in interest.
Their sharks operate within football. Sales people, no one else takes the risk because it’s do or bust.Why is it always Macquarie that's seems to provide these factoring services to football clubs? Seems quite lucrative so surprised there are not other banks competing for the business?
Arsenal do the same with Barclays bankTheir sharks operate within football. Sales people, no one else takes the risk because it’s do or bust.
Spot on.The loans by way of factoring agreement, are in all probability being underwritten and financed by a mainstream bank (your NatWests and HSBC's). They will in all likelihood have a suite of financial products with Macquarie who use these monies to offer factoring agreements with football clubs etc. To all intents, they are acting as a financial broker in a niche market. The factoring agreement is between Macquarie and the football club, and separated from that will be financial arrangements between a mainstream lender and Macquarie, so funding via third party. Macquarie will have a bank license though so that they can commercially lend. This way the mainstream banks get a cut as they are lending to a lesser risk who are regulated by FCA etc, and Macquarie get the funds they need to on-lend to the football clubs. They will make their money in the difference in the interest margins being charged (on the products with the mainstream lenders and the high interest rates on the factoring agreements) and no doubt talking a healthy fee for acting as the broker. Bibby Finance would be another example of a company / commercial lender who provides invoice and asset factoring funding to others, but who are funded themselves via a mainstream Bank.
What makes you think we have invoicing finance or similar? The vast majority of our income isn’t invoiced.Spot on.
I had dealings of this type with a number of invoice finance companies back in the days when I was working for a bank to earn a living.
You’re right, none of the charges on CH are for invoice financing as far as I can see. They’re mainly these ‘kicking the can down the road’ deals that we seem to love taking out plus a lease agreement for the lights we use for the turf.What makes you think we have invoicing finance or similar? The vast majority of our income isn’t invoiced.
They provide cash flow financing to cover shortfalls until PL/TV money arrives.
Weren’t you a bank manager? My vivid recollection was bank managers pushing factoring/invoice financing like mad. A shit option for many businesses that made fortunes for the factoring arms of the banks and did many businesses no favours.
I was replying to a specific point.What makes you think we have invoicing finance or similar? The vast majority of our income isn’t invoiced.
They provide cash flow financing to cover shortfalls until PL/TV money arrives.
Weren’t you a bank manager? My vivid recollection was bank managers pushing factoring/invoice financing like mad. A shit option for many businesses that made fortunes for the factoring arms of the banks and did many businesses no favours.
I was replying to a specific point.
I used to lend to sub prime lenders that provided invoice finance/factoring services to their clients in much the same way as McQuarrie are to United.
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