PH - Open and frank interview

[Greasy Chap Butty]

It's quite simple
If you have a £100,000 mortgage and decide to remortgage, the first debt is paid off

But you still owe the same £100,000

Yes
We've reduced our debts by borrowing more to pay them off, they've called it debt restructuring.

So not reduced?

 

[Flatulent_Bob]

It's quite simple
If you have a £100,000 mortgage and decide to remortgage, the first debt is paid off

But you still owe the same £100,000

 

[Espania blade]

Just listened to this again and he distance himself from the decision to not offer Billy a new contract. Who does make that call and overrides PH? Bettis?

Mr common sense

 

[Sean Thornton]

Cant work out if he is a wum or a pig
If he is neither his outlook on life is heartbreaking

Or funny in a dark sort of way?

 

[JJBlade]

Oh dear !

Oh dear what ?

They've paid off some loans with money they've borrowed

 

[Sean Thornton]

You seem to have accepted that our club will be relegation favourites in the EPL, and your solution, along with many other supporters, is to acquire another 7 or 8 players, in order to rectify that.

In an ideal world I might agree with that. The fact is, our player budget does not allow for that. Nor does it allow for any infrastructure improvements for the ground, the training facilities, or the academy.

The player budget reflects a desire to get the club back to a sustainable financial situation. This is to avoid the kind of sanctions we had back in January, including the prospect of going into administration.

Even a new owner would have to have these priorities, before spending anything on players. I hope that PH is allowed to manage the football side of life at the club. He has proved pretty good at that so far. Anything else is just a pipe dream.

The best support this club ever enjoyed was probably in the old 4th Division. But does anyone really want to go back to those days?

Hotel? What hotel?

“including the prospect of going into administration”

A myth pushed by a couple of wums and bought by the slashers, the gullible and Jimmy S at the Star.

Rubbished by Bettis and shown to be untrue by further capital investment.

You talk of an ideal world, sadly we are in the real world. Everyone knows we can’t afford any infrastructure spending and Hecky has a budget of three pence halfpenny but if the club shares your thoughts on making do with the bare bones of a squad then that won’t help us get back on a financial even keel because relegation would look to be a certainty and we’d be in the same position financially with no saleable player assets.

Some believe that the owner has always been lucky while here, especially by not selling players in January. Maybe he was. That luck will run out pretty quickly if we try to use this season as some sort levelling out for the future.

 

[Frank the tank]

Oh dear what ?

They've paid off some loans with money they've borrowed

Tell you what then
You tell us how much they owed and how much they have borrowed

 

[Sean Thornton]

Tell you what then
You tell us how much they owed and how much they have borrowed

Exactly the same amount obviously. An understanding of JJnomics (aka Happy Hour) would explain how that reduces the overall debt. Come off Frank, keep up.

 

[Constantly Optimistic...]

I think PH and the club are learning by past mistakes, good for them. Exuberant Wilder went on a spending fest, which cost us dearly. Hecky is a shrewd dingle. Give nothing away, make it look like we have nothing, don't get spunked by greedy agents off loading shite.
I do not think we will spend much, but hopefully spend sensibly. The aim will be to survive, not spend, crash and burn as we did last time.
The more I understand PH, and he doesn't give much away, the more I like him. He has achieved so much for this club, picking up a bag of shit imo. Keep going Paul, play canny, keep the spirit in the team, sign some outstanding loanees (MGW, Mcatee, Doyle) and let's give it go quietly.
No Europe ambitions, no ego, quietly progress, upset all the Billy big bollocks that come to the Lane. We, the fans should assist with that. Then wait and see what offers we get for ownership and the future.
We only have to finish above 3 other teams, Luton, Bournemouth and Belgiumloanley are my selection. Usually one EPL team implodes each year also. Palace would be my choice this season.only gripe, why not offer Billy coaching? His positional knowledge is phenomenal. Osula and Jebbo could learn so much from him.
Long response, apologies!

 

[steve26272]

Yes
We've reduced our debts by borrowing more to pay them off, they've called it debt restructuring.

.

If I borrow a tenner off your fatha, to pay a tenner I owe to your mutha, I’m still a tenner in debt

Given that interest rates are higher now, there’s a real possibility that it will cost us more to clear the new debt than it would to continue the old one, it may be more sustainable as it will give us longer to pay, but that’s longer paying interest at a higher 2023 rate?

 

[Frank the tank]

View attachment 163735

If I borrow a tenner off your fatha, to pay a tenner I owe to your mutha, I’m still a tenner in debt

Given that interest rates are higher now, there’s a real possibility that it will cost us more to clear the new debt than it would to continue the old one, it may be more sustainable as it will give us longer to pay, but that’s longer paying interest at a higher 2023 rate?

If you borrow ten pounds so you can eat and pay off 2.50 you owe next door as you know you have ten pound income due on friday you have a fundamental understanding of how basic economics work

 

[steve26272]

If you borrow ten pounds so you can eat and pay off 2.50 you owe next door as you know you have ten pound income due on friday you have a fundamental understanding of how basic economics work

 

[JJBlade]

View attachment 163735

If I borrow a tenner off your fatha, to pay a tenner I owe to your mutha, I’m still a tenner in debt

Given that interest rates are higher now, there’s a real possibility that it will cost us more to clear the new debt than it would to continue the old one, it may be more sustainable as it will give us longer to pay, but that’s longer paying interest at a higher 2023 rate?

Yes
So tell the rest of them then, those that disagree that paying a debt off with money you've borrowed is not paying a debt off, it is restructuring debt

 

[JJBlade]

Tell you what then
You tell us how much they owed and how much they have borrowed

The debt, whatever it is, is higher than it was before we ever became a Premier League club, despite having twenty or thirty times more income over that time than it would have been if we'd just bummed around in the Championship for the last five years.

Which is what the original point was before two thousand people who can't read, or understand, added their dumb opinions

 

[Frank the tank]

View attachment 163736

By jove i think hes got it

 

[Frank the tank]

The debt, whatever it is, is higher than it was before we ever became a Premier League club

 

[Greasy Chap Butty]

Yes
So tell the rest of them then, those that disagree that paying a debt off with money you've borrowed is not paying a debt off, it is restructuring debt

But you've claimed we owe less, by borrowing more money to pay the debt off.
Assuming that is what happened. What was our debt before and now?

 

[Flatulent_Bob]

We haven't got a player worth more than we paid for him,

the stadium is still the same, the academy is worse, the debts are higher, and all this despite being the embarrassing paupers of the League

I think the easiest thing to do is do this one step at a time.
You’ve admitted the first part was a lie and nonsense so let’s move onto the second.

First we had to upgrade the stadium ready for PL and around 5m was invested so it is already not the same, but the biggy would be who actually owned the stadium last time because if it wasn’t the club and now it is, that’s about a huge improvement.
So, did the club own the ground and do they now?
Anyone….anyone…Bueller…Bueller?

 

[JJBlade]

But you've claimed we owe less, by borrowing more money to pay the debt off.
Assuming that is what happened. What was our debt before and now?

I didn't say that at all
Everybody else is saying the debt has been paid off

I said it hadn't been paid off

Some debt has been paid off, but only with money borrowed to pay it off.
If you are going to disagree with someone read the entire thread

 

[JJBlade]

I think the easiest thing to do is do this one step at a time.
You’ve admitted the first part was a lie and nonsense so let’s move onto the second.

First we had to upgrade the stadium ready for PL and around 5m was invested so it is already not the same, but the biggy would be who actually owned the stadium last time because if it wasn’t the club and now it is, that’s about a huge improvement.
So, did the club own the ground and do they now?
Anyone….anyone…Bueller…Bueller?

We own the stadium......really ?
Whilst it's mortgaged up to the hilt so that the Prince could get it back from McCabe I'd say the bank own it.

And I'd say the so called Premier League upgrade of £5 million has made the stadium worse, considering we now have about an extra 1000 restricted view seats than we already had

 

[finlaytheblade]

We own the stadium......really ?
Whilst it's mortgaged up to the hilt so that the Prince could get it back from McCabe I'd say the bank own it.

And I'd say the so called Premier League upgrade of £5 million has made the stadium worse, considering we now have about an extra 1000 restricted view seats than we already had

Where do the extra 1000 restricted view seats come from ?

 

[Champagneblade]

Haven't been on here much this season and this post sums up why.
Sadly the board is now polluted by a collection of woe-is-me, pigs, Wums and attention seekers.

All the best to the proper Blades on here and 'nuff respect for wading through the shite.

Imagine if we hadn't gone up!

Would have been like lemmings inevitably walking to the cliff edge!

 

[ATL Recs]

We own the stadium......really ?
Whilst it's mortgaged up to the hilt so that the Prince could get it back from McCabe I'd say the bank own it.

And I'd say the so called Premier League upgrade of £5 million has made the stadium worse, considering we now have about an extra 1000 restricted view seats than we already had

Where are these mythical seats please

 

[Flatulent_Bob]

We own the stadium......really ?
Whilst it's mortgaged up to the hilt so that the Prince could get it back from McCabe I'd say the bank own it.

And I'd say the so called Premier League upgrade of £5 million has made the stadium worse, considering we now have about an extra 1000 restricted view seats than we already had

Well the second part is a lie isn’t it? There are no additional restricted view seats from the addition of the TV studio etc. It had to be done in order to comply and it also meant we could do things like host the womens World Cup games. It was a significant improvement to the ground, so don’t be daft.
The club also own the ground, that it also another undeniable fact. The Emerates bank doesn’t own it, in any way shape or form.

The mortgaged up to the hilt is another lie but I think we need to stay on tackling one at a time given your rate of output.

• The stadium had improvements which allowed it to hold PL football and matches at the highest level of the womens game. Without those additions neither would have happened, therefore it can’t not be considered an improvement.
• The club now legally own the ground, whereas they didn’t prior to promotion last time. Another huge, significant improvement that we own such a significant asset.

Come on admit that you’re talking bollocks and we can move onto the training ground improvement where we had a new pitch installed.

 

[Sean Thornton]

Where are these mythical seats please

You can’t see them. The view is restricted.

 

[Greasy Chap Butty]

Some debt has been paid off, but only with money borrowed to pay it off

Saying this again. It makes no sense. You've said it twice now.
What's the figures? What did we owe and what do we owe now, and to who?

 

[Sean Thornton]

We own the stadium......really ?
Whilst it's mortgaged up to the hilt so that the Prince could get it back from McCabe I'd say the bank own it.

And I'd say the so called Premier League upgrade of £5 million has made the stadium worse, considering we now have about an extra 1000 restricted view seats than we already had

£30m borrowed for a purchase price of around £45m. Not exactly up to the hilt.

 

[jt64]

You can’t see them. The view is restricted.

Ah, so THAT'S where the Dean Hammond stand is

 

[Harrisblade]

It's quite simple
If you have a £100,000 mortgage and decide to remortgage, the first debt is paid off

But you still owe the same £100,000

But you usually end up with a lower interest rate or better terms on the newer mortgage.
Otherwise there's no point doing it.

 

[Flatulent_Bob]

You can’t see them. The view is restricted.