WHERE WILL THE MONEY COME FROM ?

What would it take to get rid of PMG?

What would it take to get rid of PMG?

£10m.

Unless someone has something spectacular up their sleeve we need to work with PMG for at least the next few years.

Surely Sam/Langston is more of a worry than PMG, putting the egg thing to one side.
Does anyone know what interest is charged on PMG's loan?

Either way surely its better to get rid of sams debt if it goes up at the end of the year by so much. For me Sam is the worry not PMG as it stands

What would it take to get rid of PMG?

£10m.

Unless someone has something spectacular up their sleeve we need to work with PMG for at least the next few years.

Are they not owed £9 million Tim, of which they received £300k and the club also have the option of turning £2.7 million into shares, therefore leaving £6million which is being paid off from the proceeds of the premier club seating ?

What would it take to get rid of PMG?

£10m.

Unless someone has something spectacular up their sleeve we need to work with PMG for at least the next few years.

Are they not owed £9 million Tim, of which they received £300k and the club also have the option of turning £2.7 million into shares, therefore leaving £6million which is being paid off from the proceeds of the premier club seating ?

Hi Carl,

I make it that they are owed less than that in loans, (remember £1.8m came off the £9m+ figure from the land deal) but whoever came in would also have to buy their shares (and the same if the £2.7m debt/equity swap was aken up), if you wanted them out completely.

So my 'rough' figure was £8m in loans £2m for their (current) shares.

If its just a case of paying off their loan then after the debt/equity swap it would be somewhere between £5m and £6m I reckon.

Tim I forgot about the land deal and if I remember correctly part was cash and part was off the debt, so as you say if it is just the loan then the figure would be £5million approx plus their shares to buy them out completely.

Tim I forgot about the land deal and if I remember correctly part was cash and part was off the debt, so as you say if it is just the loan then the figure would be £5million approx plus their shares to buy them out completely.

I'm not 100% on it though Carl as around the same time they were supposedly lending more money to the club for wages -as TLG's blog says the debt was £9.2m at 1/4/10 (and he's seen the Managment accounts !). I've asked him on the other board whether this was before- or after the land deal proceeds were accounted for, but not had an answer as yet, which suggests he either doesn't know -or it wasn't, I know he'd be straight on to tell me if he was right .

That £1.8m would make a significant difference - the interest would drop by £100k p.a for a start ! Which given they are getting the Premier club money would mean they would get paid up quicker.

The deal at the moment is that they will get sorted by 2013, being paid in stages, by 30/9/2013, so if its £5m (plus the interest accruaing in that time of about £600k) over say 40 payments its about £140k per month. (Can't be bothered to calculate it exactly). If its £7m and the associated interest it would be nearer £200k per month.

This is a lot of money for a club with income levels like ours. I doubt the premier club would cover £200k p.m.

Of course this all depends on the club taking up the option, and I'm intrigued as to why this wasn't done the day after the EGM - it suggests the malaysians are waiting for something before allowing PmG's shareholding to increase ?

Tim whatever the payment schedule is, do you think like me that as directors and an obvious interest in the financial good of the club, that PMG should renegotiate their payments with the club and that of the premier seating until other issues are resolved and the club are in a better shape.

Tim whatever the payment schedule is, do you think like me that as directors and an obvious interest in the financial good of the club, that PMG should renegotiate their payments with the club and that of the premier seating until other issues are resolved and the club are in a better shape.

Yes Carl.

As things stand.

I'm not sure of their particular position, but a payment holiday for 6 months would be very useful .

TG and Tan are doing their bit, the players seem to be doing a bit, it would be great to see PMG helping as well.

I fear there is very little chance of this though.

The next 7 days could possibly reveal how the club will be run but more importantly by who. For in the next seven days there are issues to be sorted out and a considerable amount of money to be paid out too. There is a meeting in Malaysia this weekend that sees Alan Whitely fly out there to meet TG. We are under an embargo ( at time of writing ) and we also have to settle or deal with the remainding money on Hudson.

At present there is 2 months ( May and June ) of tax to be paid and this will be approximately £1million, it is safe to say that the club will not want to go back in front of a judge over the same issue again, so they have to pay and pay it soon as the court date is set for August 11th.

In 7 days time the players wages are due ( 28th ) and I dont think the club want the bad publicity that surrounded the club at the beginning of this month regarding the wages, also the club would'nt want the players being unhappy directly before the season starts either.

Before the embargo is lifted, a deal has to be struck with the broker that financed the Hudson deal otherwise the embargo will remain, to settle this in full would cost the club a further £500k.

We are talking of a figure of approximately £2million to be paid out in the next week to a fortnight, what strategy will be used to fund the money ?

There are a few options but which will we see ?

Could the Malaysians put up the money themselves ? Personally I dont think they will, I say this because I think if it was indeed their strategy then why now and not last month or the month before.

Could the other directors in the club put money in ? Again I dont think that will be the case either.

Could there be another investor ? Possibly.

Could it be a player(s) sale ? probable, would be my answer.

There is a reason why TG and Vincent Tan have not bought the club outright but no-one bar themselves know the reason, even though they have invested £6.5million they have not shown that they are ready and willing to takeover the club, lock and stock. Could they have another investor lined up ? As I said above that could very well be the case, it may or may not involve Sam Hammam but thinking further ahead, Langston is another issue that becomes a higher priority as each day nears to the end of the year.

Most believe that PMG want out of the club so whould they put more in, the answer would be no. What about Isaac, Borley and Whitely ? I wouldnt think that any of them have the wealth to sort out the current issues at the club.

So for me I think we are heading fastly towards a player sale unless there is another white knight coming over the hill with a wad of cash, the club has a huge shortfall in it's turnover and that void needs bridging.

Anything is possible with Cardiff City FC but I think we will now start to see 'things' happening at the club or certainly the results from it in the very near future, will this weekends meeting reveal more ?