The Prince owed £50 million ?

[Isaw Joeshaw]

About a week ago I first came across the suggestion on here that our current owners have an outstanding debt to our previous one to the tune of £50 million pounds .

This came as a great surprise to me , not least of which being that the Prince would agree to such an arrangement . Whatever your thoughts on his tenure of our club , I think most would agree that when it came to money matters he was nobody’s fool so the idea that he would sell out to a hastily knocked together consortium of Yanks still owing him such a huge amount didn’t ring true to me .

However , since then the story appears to have gained traction , to the extent that it has now become the accepted truth for a large number of subscribers to this forum .

As a result , I asked the question yesterday on Google as to whether this was the case and the answer (albeit AI generated) came back as a resounding NO and that the full purchase price of £111 million was paid on the completion of the takeover .

I am sure there are members on here who can clarify this situation and would ask them to provide such information ,since one way or the other this will have a huge impact on our prospects both in the short and long term .

 

[calcalcal]

Sky did a report back in December ish time that he threatened to wind the club up over an unpaid 10m debt
The article implied coh still owed over half of the agreed price (believe 105m so this would be over 50m owed)
Since then there was another instalment paid which was done with no fuss
Believe 1 final instalment is due but logically it must be a big one based on the above
I suspect coh still owe rather a lot, whether it's 50m im not sure but I would hazard a guess based on piecing together that it was at least 30m.
The question is when was the final payment due. I dont know. Maybe they already paid it or maybe its due very soon

A degree of guesswork involved here

 

[relish]

I don’t know what (if anything) is still owed, but this kind of arrangement would be quite normal in an acquisition of this size. What was/is owed to the Prince would be secured on the club’s assets (hence him being able to pursue a winding up order when the instalment was late).

Trying to use it to answer these kinds of questions is not a sensible use of a Large Language Model.

 

[SwissBlade]

Sky did a report back in December ish time that he threatened to wind the club up over an unpaid 10m debt
The article implied coh still owed over half of the agreed price (believe 105m so this would be over 50m owed)
Since then there was another instalment paid which was done with no fuss
Believe 1 final instalment is due but logically it must be a big one based on the above
I suspect coh still owe rather a lot, whether it's 50m im not sure but I would hazard a guess based on piecing together that it was at least 30m.
The question is when was the final payment due. I dont know. Maybe they already paid it or maybe its due very soon

A degree of guesswork involved here

I seem to remember at the time of the sale that there was a rumour that it was a structured deal and that there was a payment triggered if we got promotion. I then heard, also on here that when we lost in the play offs that payment had been avoided (obviously, but it was more that the same rumour resurfaced and this time from multiple sources)

Separately I think the payments to the Prince for transfer of ownership were being made in instalments and one had been delayed being paid, which then triggered the Prince to inform the EFL

Not sure of the balances of payments but it does seem like the £100m purchase price or whatever it was has been spread over instalments

No AI was used to generate this post. Just a bad memory of rumours and reading this forum

Regards Swizzler GPT

 

[Montymagic]

Probably best to ask any local Wednesday fan what our actual financial situation is tbh ....

 

[Berkshire Blade]

This came as a great surprise to me , not least of which being that the Prince would agree to such an arrangement . Whatever your thoughts on his tenure of our club , I think most would agree that when it came to money matters he was nobody’s fool

Lol