Thu Dec 18, 2014 7:46 pm
Thu Dec 18, 2014 8:06 pm
Forever Blue wrote:Thanks to our Accountant Keith Morgan who has just posted this on our forum.
Hopefully this can answer many of our fans questions regarding city's Debt.
Also Tan called to make the Debt Equity as Promised
link
viewtopic.php?f=2&t=151604
' Cardiff City's Current Debt '
The debt due to Vincent Tan is very clearly debt .It does not become so only when he or his executors (should he die)demands repayment of it. The only way it ceases to be debt is if either waives the debt or converts it into shares.
Cardiff City Football Club (Holdings) Limited made a profit while in the Premier League(I expect it to be in the range
£10m to £15m when the May 2014 accounts are published).But it will make a loss this season(depending on cup runs and league attendances probably between £3m and £5m).This is due to the loss of Sky TV income and it's replacement by a far lower parachute payment.
A conversion of debt into shares makes no difference to the FFP compliance provided the club stays within the allowed annual loss figure,which was recently substantially increased to £13m a season
Keith
Thu Dec 18, 2014 8:11 pm
wez1927 wrote:Forever Blue wrote:Thanks to our Accountant Keith Morgan who has just posted this on our forum.
Hopefully this can answer many of our fans questions regarding city's Debt.
Also Tan called to make the Debt Equity as Promised
link
viewtopic.php?f=2&t=151604
' Cardiff City's Current Debt '
The debt due to Vincent Tan is very clearly debt .It does not become so only when he or his executors (should he die)demands repayment of it. The only way it ceases to be debt is if either waives the debt or converts it into shares.
Cardiff City Football Club (Holdings) Limited made a profit while in the Premier League(I expect it to be in the range
£10m to £15m when the May 2014 accounts are published).But it will make a loss this season(depending on cup runs and league attendances probably between £3m and £5m).This is due to the loss of Sky TV income and it's replacement by a far lower parachute payment.
A conversion of debt into shares makes no difference to the FFP compliance provided the club stays within the allowed annual loss figure,which was recently substantially increased to £13m a season
Keith
so if we are making a loss this season as stated by Keith must mean that tan is still funding the club but a post last night says he's not ? I dont belive we will make a loss this season tho
Thu Dec 18, 2014 8:11 pm
wez1927 wrote:Forever Blue wrote:Thanks to our Accountant Keith Morgan who has just posted this on our forum.
Hopefully this can answer many of our fans questions regarding city's Debt.
Also Tan called to make the Debt Equity as Promised
link
viewtopic.php?f=2&t=151604
' Cardiff City's Current Debt '
The debt due to Vincent Tan is very clearly debt .It does not become so only when he or his executors (should he die)demands repayment of it. The only way it ceases to be debt is if either waives the debt or converts it into shares.
Cardiff City Football Club (Holdings) Limited made a profit while in the Premier League(I expect it to be in the range
£10m to £15m when the May 2014 accounts are published).But it will make a loss this season(depending on cup runs and league attendances probably between £3m and £5m).This is due to the loss of Sky TV income and it's replacement by a far lower parachute payment.
A conversion of debt into shares makes no difference to the FFP compliance provided the club stays within the allowed annual loss figure,which was recently substantially increased to £13m a season
Keith
so if we are making a loss this season as stated by Keith must mean that tan is still funding the club but a post last night says he's not ? I dont belive we will make a loss this season tho
Thu Dec 18, 2014 8:12 pm
Forever Blue wrote:wez1927 wrote:Forever Blue wrote:Thanks to our Accountant Keith Morgan who has just posted this on our forum.
Hopefully this can answer many of our fans questions regarding city's Debt.
Also Tan called to make the Debt Equity as Promised
link
viewtopic.php?f=2&t=151604
' Cardiff City's Current Debt '
The debt due to Vincent Tan is very clearly debt .It does not become so only when he or his executors (should he die)demands repayment of it. The only way it ceases to be debt is if either waives the debt or converts it into shares.
Cardiff City Football Club (Holdings) Limited made a profit while in the Premier League(I expect it to be in the range
£10m to £15m when the May 2014 accounts are published).But it will make a loss this season(depending on cup runs and league attendances probably between £3m and £5m).This is due to the loss of Sky TV income and it's replacement by a far lower parachute payment.
A conversion of debt into shares makes no difference to the FFP compliance provided the club stays within the allowed annual loss figure,which was recently substantially increased to £13m a season
Keith
so if we are making a loss this season as stated by Keith must mean that tan is still funding the club but a post last night says he's not ? I dont belive we will make a loss this season tho
If we make a loss this season Wez,that just means plain and simple were making a loss,it does not mean Tan is still funding us?
Thu Dec 18, 2014 8:15 pm
Forever Blue wrote:wez1927 wrote:Forever Blue wrote:Thanks to our Accountant Keith Morgan who has just posted this on our forum.
Hopefully this can answer many of our fans questions regarding city's Debt.
Also Tan called to make the Debt Equity as Promised
link
viewtopic.php?f=2&t=151604
' Cardiff City's Current Debt '
The debt due to Vincent Tan is very clearly debt .It does not become so only when he or his executors (should he die)demands repayment of it. The only way it ceases to be debt is if either waives the debt or converts it into shares.
Cardiff City Football Club (Holdings) Limited made a profit while in the Premier League(I expect it to be in the range
£10m to £15m when the May 2014 accounts are published).But it will make a loss this season(depending on cup runs and league attendances probably between £3m and £5m).This is due to the loss of Sky TV income and it's replacement by a far lower parachute payment.
A conversion of debt into shares makes no difference to the FFP compliance provided the club stays within the allowed annual loss figure,which was recently substantially increased to £13m a season
Keith
so if we are making a loss this season as stated by Keith must mean that tan is still funding the club but a post last night says he's not ? I dont belive we will make a loss this season tho
If we make a loss this season Wez,that just means plain and simple were making a loss,it does not mean Tan is still funding us?
Thu Dec 18, 2014 8:15 pm
Thu Dec 18, 2014 8:23 pm
ccfcsince62 wrote:Annis
Once the May 2014 accounts are available it will be far easier to estimate how much Vincent Tan is actually owed.The figures which he and the club board occasionally quote are widely different (as are the figures quoted by just VT alone from different press and media coverage).
The accounts will show what was actually owed as at 31 May , as agreed and signed off by the independent external auditors.They will also give useful clues as to how that figure will have changed between 31 May and the date they were formally signed off (should have been last month to comply with
League rules)
Thu Dec 18, 2014 8:32 pm
Forever Blue wrote:ccfcsince62 wrote:Annis
Once the May 2014 accounts are available it will be far easier to estimate how much Vincent Tan is actually owed.The figures which he and the club board occasionally quote are widely different (as are the figures quoted by just VT alone from different press and media coverage).
The accounts will show what was actually owed as at 31 May , as agreed and signed off by the independent external auditors.They will also give useful clues as to how that figure will have changed between 31 May and the date they were formally signed off (should have been last month to comply with
League rules)
Cheers Keith,very much appreciated
So we are a month late already.
Thu Dec 18, 2014 8:34 pm
ccfcsince62 wrote:Forever Blue wrote:ccfcsince62 wrote:Annis
Once the May 2014 accounts are available it will be far easier to estimate how much Vincent Tan is actually owed.The figures which he and the club board occasionally quote are widely different (as are the figures quoted by just VT alone from different press and media coverage).
The accounts will show what was actually owed as at 31 May , as agreed and signed off by the independent external auditors.They will also give useful clues as to how that figure will have changed between 31 May and the date they were formally signed off (should have been last month to comply with
League rules)
Cheers Keith,very much appreciated
So we are a month late already.
No.The club don't yet legally have to file them at Companies House.The 1December deadline is for filing them with the League so they can check if the club has complied with FFP
Thu Dec 18, 2014 8:37 pm
wez1927 wrote:Forever Blue wrote:wez1927 wrote:Forever Blue wrote:Thanks to our Accountant Keith Morgan who has just posted this on our forum.
Hopefully this can answer many of our fans questions regarding city's Debt.
Also Tan called to make the Debt Equity as Promised
link
viewtopic.php?f=2&t=151604
' Cardiff City's Current Debt '
The debt due to Vincent Tan is very clearly debt .It does not become so only when he or his executors (should he die)demands repayment of it. The only way it ceases to be debt is if either waives the debt or converts it into shares.
Cardiff City Football Club (Holdings) Limited made a profit while in the Premier League(I expect it to be in the range
£10m to £15m when the May 2014 accounts are published).But it will make a loss this season(depending on cup runs and league attendances probably between £3m and £5m).This is due to the loss of Sky TV income and it's replacement by a far lower parachute payment.
A conversion of debt into shares makes no difference to the FFP compliance provided the club stays within the allowed annual loss figure,which was recently substantially increased to £13m a season
Keith
so if we are making a loss this season as stated by Keith must mean that tan is still funding the club but a post last night says he's not ? I dont belive we will make a loss this season tho
If we make a loss this season Wez,that just means plain and simple were making a loss,it does not mean Tan is still funding us?
but the money would have to come from somewhere ie tan ,bank overdraft or loans ?
Thu Dec 18, 2014 8:49 pm
pembroke allan wrote:wez1927 wrote:Forever Blue wrote:wez1927 wrote:Forever Blue wrote:Thanks to our Accountant Keith Morgan who has just posted this on our forum.
Hopefully this can answer many of our fans questions regarding city's Debt.
Also Tan called to make the Debt Equity as Promised
link
viewtopic.php?f=2&t=151604
' Cardiff City's Current Debt '
The debt due to Vincent Tan is very clearly debt .It does not become so only when he or his executors (should he die)demands repayment of it. The only way it ceases to be debt is if either waives the debt or converts it into shares.
Cardiff City Football Club (Holdings) Limited made a profit while in the Premier League(I expect it to be in the range
£10m to £15m when the May 2014 accounts are published).But it will make a loss this season(depending on cup runs and league attendances probably between £3m and £5m).This is due to the loss of Sky TV income and it's replacement by a far lower parachute payment.
A conversion of debt into shares makes no difference to the FFP compliance provided the club stays within the allowed annual loss figure,which was recently substantially increased to £13m a season
Keith
so if we are making a loss this season as stated by Keith must mean that tan is still funding the club but a post last night says he's not ? I dont belive we will make a loss this season tho
If we make a loss this season Wez,that just means plain and simple were making a loss,it does not mean Tan is still funding us?
but the money would have to come from somewhere ie tan ,bank overdraft or loans ?
well on the basis that tan is not propping us up anymore, one must asume that any loss from now on acrude by club is clubs debt and tan will not be paying it when or if he leaves?? ahhh well out of the frying pan comes to mind?
or are people assuming tan will convert this as well if he does convert!
Thu Dec 18, 2014 8:59 pm
Thu Dec 18, 2014 9:27 pm
wez1927 wrote:pembroke allan wrote:wez1927 wrote:Forever Blue wrote:wez1927 wrote:Forever Blue wrote:Thanks to our Accountant Keith Morgan who has just posted this on our forum.
Hopefully this can answer many of our fans questions regarding city's Debt.
Also Tan called to make the Debt Equity as Promised
link
viewtopic.php?f=2&t=151604
' Cardiff City's Current Debt '
The debt due to Vincent Tan is very clearly debt .It does not become so only when he or his executors (should he die)demands repayment of it. The only way it ceases to be debt is if either waives the debt or converts it into shares.
Cardiff City Football Club (Holdings) Limited made a profit while in the Premier League(I expect it to be in the range
£10m to £15m when the May 2014 accounts are published).But it will make a loss this season(depending on cup runs and league attendances probably between £3m and £5m).This is due to the loss of Sky TV income and it's replacement by a far lower parachute payment.
A conversion of debt into shares makes no difference to the FFP compliance provided the club stays within the allowed annual loss figure,which was recently substantially increased to £13m a season
Keith
so if we are making a loss this season as stated by Keith must mean that tan is still funding the club but a post last night says he's not ? I dont belive we will make a loss this season tho
If we make a loss this season Wez,that just means plain and simple were making a loss,it does not mean Tan is still funding us?
but the money would have to come from somewhere ie tan ,bank overdraft or loans ?
well on the basis that tan is not propping us up anymore, one must asume that any loss from now on acrude by club is clubs debt and tan will not be paying it when or if he leaves?? ahhh well out of the frying pan comes to mind?
or are people assuming tan will convert this as well if he does convert!
the club cant print money so it has to come from somewhere
Fri Dec 19, 2014 8:21 am
Fri Dec 19, 2014 8:22 am
troobloo3339 wrote:or how about the losses has now stopped and we are living within our means .
or is that thought no good for the agendas of this board
maybe this seasons losses have been accrued already but tan has put things into place to ensure no more losses this season hence him no longer propping up our finances
Fri Dec 19, 2014 10:01 am
Sat Dec 20, 2014 8:42 am