where has the money problems come from?

[beightonblade]

I'm sorry i don't ..............

but its there in black and white.

Ask Foxy he knows.

 

[Sensiblade]

I'm sorry i don't ..............

but its there in black and white.

Ask Foxy he knows.

I'd rather see if for myself.

 

[beightonblade]

No problem.............

one loan was for £10million.

 

[Mad Mick]

Pray tell me BB, how do you get 300% more?

 

[beightonblade]

Pray tell me BB, how do you get 300% more?

I have no idea ........ except McWobblegob has got the Blades by the balls.

 

[Houso]

Same owd BBB...

 

[Mad Mick]

Quote from BB "I have no idea"
That really should be your motto

 

[beightonblade]

go an read the clubs accounts like i did.................it makes interesting reading.

oh and educate yersens here anall.

http://www.google.co.uk/search?hl=e...s+explained&btnG=Google+Search&meta=&aq=f&oq=

 

[Mad Mick]

Janet had 1 plate of chips and John had 3. How many more plates of chips did John have than Janet?
Clue: Don't forget to take into account that Janet has 1.

 

[beightonblade]

How many beans make 5 ?

1 in yer hand an 4 in yer pocket.

 

[judge]

but if mccabe is ripping the club off why was the £10m paid back on time and not just put to one side for him to accrue his massive interest ?

 

[Maidenhead]

Seems to me that BB is obviously a much better risk than SUFC if he is borrowing money at 1% abr.

In my opinion 3% abr is a very reasonable rate for unsecured lending to a business with the financial history of SUFC.

SUFC could not borrow money at that rate anywhere else and if Mr McCabe was really only interested in a return he would invest his cash at a much better rate elsewhere.

 

[MobileBlade]

Seems to me that BB is obviously a much better risk than SUFC if he is borrowing money at 1% abr.

In my opinion 3% abr is a very reasonable rate for unsecured lending to a business with the financial history of SUFC.

SUFC could not borrow money at that rate anywhere else and if Mr McCabe was really only interested in a return he would invest his cash at a much better rate elsewhere.

I was just about to post the same. Is Beighton telling us he managed to get a commercial loan at an interest rate of 1.5% from the Bank of Scotland?

 

[beightonblade]

I was just about to post the same. Is Beighton telling us he managed to get a commercial loan at an interest rate of 1.5% from the Bank of Scotland?

1% over base rate ......the base rate does fluctuate.

Yes right now we are paying 1.5%, our rate is fixed at the beginning of October and is reviewed each year but remains at 1% over base.

 

[beightonblade]

Seems to me that BB is obviously a much better risk than SUFC if he is borrowing money at 1% abr.

In my opinion 3% abr is a very reasonable rate for unsecured lending to a business with the financial history of SUFC.

SUFC could not borrow money at that rate anywhere else and if Mr McCabe was really only interested in a return he would invest his cash at a much better rate elsewhere.

mmmmm ....... unsecured lending ? are you sure ?

 

[Maidenhead]

mmmmm ....... unsecured lending ? are you sure ?

OK then, secured by a floating charge which = unsecured to any prudent lending banker not chasing a bonus payment.

I have never yet seen a floating charge repay distressed lending because by it's very nature such "security" is worth least when required most.

As such it was always ranked as unsecured lending when I was a sensible prudent banker.

 

[Isiah]

As such it was always ranked as unsecured lending when I was a sensible prudent banker.[/QUOTE]

Now there's a phrase you don't hear too often!

 

[Wapping Blade]

And now you're a radical, militant postie!

 

[SotonBlade]

Think we need to create a section for financial discussion!

 

[Mad Mick]

Can I ask a number of questions.
Who owns SUFC?
Who owns the company that lent us the £10 million?

It might be of interest to consider the following.
Current interest would be £350,000, I understand this could be viewed as a business expense. So saving maybe 28% in Corp Tax, although I'm not sure if any relief's would apply, I'm not an accountant. Net cost could be around £250,000 which isn't bad for what would normally be viewed as high risk lending. Hardly a fortune is it for the loan of £10 million? Maybe someone with an accounting background could tell me if I'm on the right track?

 

[beightonblade]

Can I ask a number of questions.
Who owns SUFC?
Who owns the company that lent us the £10 million?

It might be of interest to consider the following.
Current interest would be £350,000, I understand this could be viewed as a business expense. So saving maybe 28% in Corp Tax, although I'm not sure if any relief's would apply, I'm not an accountant. Net cost could be around £250,000 which isn't bad for what would normally be viewed as high risk lending. Hardly a fortune is it for the loan of £10 million? Maybe someone with an accounting background could tell me if I'm on the right track?

Thar on a track alreight, whether its the reight un or not is a matter of opinion.
McCabe is a shrewd owd bugger wi plenty of banking experience and contacts.He enages accountants who he thinks are the best (i have no doubts here) .

My only interest here is the Blades and in my humble opinion the structuring cud have been better to protect the clubs assets.

 

[beightonblade]

OK then, secured by a floating charge which = unsecured to any prudent lending banker not chasing a bonus payment.

I have never yet seen a floating charge repay distressed lending because by it's very nature such "security" is worth least when required most.

As such it was always ranked as unsecured lending when I was a sensible prudent banker.

prudent lending banker

Thats the post of the year award sorted.

arise Sir Fred !

 

[Maidenhead]

As such it was always ranked as unsecured lending when I was a sensible prudent banker.

Now there's a phrase you don't hear too often![/QUOTE]

And probably explains why I'm a radical militant postie now.

Sense and prudence were out of fashion when I left the banking rat race

 

[Maidenhead]

prudent lending banker

Thats the post of the year award sorted.

arise Sir Fred !

Well done Beighton, without a viable counter arguement, resort to humour :thumbup:

 

[beightonblade]

Well done Beighton, without a viable counter arguement, resort to humour :thumbup:

Counter arguement against prudent bankers ?
yer havin a laugh ............ ask the folk that have lost their jobs,homes,business's,dignity .......................

The bankers are just bully boys in my opinion ..........

 

[Autumn]

Thar on a track alreight, whether its the reight un or not is a matter of opinion.
McCabe is a shrewd owd bugger wi plenty of banking experience and contacts.He enages accountants who he thinks are the best (i have no doubts here) .

My only interest here is the Blades and in my humble opinion the structuring cud have been better to protect the clubs assets.

You think out of the box and people don't like that, reminds me of the film the matrix.
Without proof it's hard for people to believe it, and seeing as Mccabe is a shrewd business man, they want to put the blame elsewhere.

For me it's all about appearances, whether you're investing or not, you never talk a client into investing in a football club, only for one or two reasons.

 

[beightonblade]

Oh an another thing ..............

Why is McCabe so anxious to get his money back from the Blades ?

 

[judge]

Oh an another thing ..............

Why is McCabe so anxious to get his money back from the Blades ?

but yesterday you said he was making a massive profit from the interest on his loans

so which one is it ? either he wants his money back or he wants to make money off the interest

do you think before you post this crap ?

 

[beightonblade]

but yesterday you said he was making a massive profit from the interest on his loans

so which one is it ? either he wants his money back or he wants to make money off the interest

do you think before you post this crap ?

he's had his profits.......now he wants his cash back fast.

Its called havin yer cake an eating it.

shrewd owd bugger McCabe........make no mistake.....yer will find out soon enuff!

 

[judge]

he's had his profits.......now he wants his cash back fast.

Its called havin yer cake an eating it.

shrewd owd bugger McCabe........make no mistake.....yer will find out soon enuff!

he must have made a massive profit on those loans then to want them back in the agreed timescale bet its as much as £200,000