Tue Oct 16, 2012 8:46 pm
NJ73 wrote:castleblue wrote:So Swansea City are about to post a £14m profit and Swansea Council receive not a single penny in income from the Liberty Stadium.
How does that work then.
Swansea Council do not pay a penny towards the upkeep of the stadium. That's how that works.
Tue Oct 16, 2012 8:53 pm
C. Rombie-Coat wrote:NJ73 wrote:castleblue wrote:So Swansea City are about to post a £14m profit and Swansea Council receive not a single penny in income from the Liberty Stadium.
How does that work then.
Swansea Council do not pay a penny towards the upkeep of the stadium. That's how that works.
It is usual for commercial tenants to pay rent for the property they occupy and to pay for the upkeep of the property in addition
The fact there is no rent means there is a subsidy in place.
Tue Oct 16, 2012 8:55 pm
NJ73 wrote:C. Rombie-Coat wrote:NJ73 wrote:castleblue wrote:So Swansea City are about to post a £14m profit and Swansea Council receive not a single penny in income from the Liberty Stadium.
How does that work then.
Swansea Council do not pay a penny towards the upkeep of the stadium. That's how that works.
It is usual for commercial tenants to pay rent for the property they occupy and to pay for the upkeep of the property in addition
The fact there is no rent means there is a subsidy in place.
Speaking of subsidies, how much did CCFC pay Cardiff Council for the prime land the stadium, retail park & House of Sport is built on?
Tue Oct 16, 2012 8:59 pm
NJ73 wrote:Lawnmower wrote:shizzle wrote:Barry Chuckle wrote:shizzle wrote:You seem to really, really care about this but I'm not about to announce which company I own on a public forum. But, it's the truth, simple as that.
And, i'm in no way defending SCFC and how they dealt with companies many years ago, they were terrible, as I have already said.
No, just reminding the Swansea fans that come on here mocking our financial stuation, that your little club was in a worse position not too long ago.
Though I doubt they would remember as they weren't fans then, only been going the last two seasons
And now we make over £14m profit.
How times change.
If this is true, and there are some creditors who have been paid off and some who haven't (like the inland revenue for example) then someone is in a lot of trouble as this action is fraudulent. So a good idea not to go into any detail.
The inland revenue and HMRC were both paid in full as was the rule then as they had preferred creditor status.
Tue Oct 16, 2012 9:01 pm
Tue Oct 16, 2012 9:03 pm
NJ73 wrote:C. Rombie-Coat wrote:NJ73 wrote:castleblue wrote:So Swansea City are about to post a £14m profit and Swansea Council receive not a single penny in income from the Liberty Stadium.
How does that work then.
Swansea Council do not pay a penny towards the upkeep of the stadium. That's how that works.
It is usual for commercial tenants to pay rent for the property they occupy and to pay for the upkeep of the property in addition
The fact there is no rent means there is a subsidy in place.
Speaking of subsidies, how much did CCFC pay Cardiff Council for the prime land the stadium, retail park & House of Sport is built on?
Tue Oct 16, 2012 9:05 pm
Lawnmower wrote:NJ73 wrote:Lawnmower wrote:shizzle wrote:Barry Chuckle wrote:shizzle wrote:You seem to really, really care about this but I'm not about to announce which company I own on a public forum. But, it's the truth, simple as that.
And, i'm in no way defending SCFC and how they dealt with companies many years ago, they were terrible, as I have already said.
No, just reminding the Swansea fans that come on here mocking our financial stuation, that your little club was in a worse position not too long ago.
Though I doubt they would remember as they weren't fans then, only been going the last two seasons
And now we make over £14m profit.
How times change.
If this is true, and there are some creditors who have been paid off and some who haven't (like the inland revenue for example) then someone is in a lot of trouble as this action is fraudulent. So a good idea not to go into any detail.
The inland revenue and HMRC were both paid in full as was the rule then as they had preferred creditor status.
Can you substantiate that ?
They may have been preferred creditors, but if there was no money to pay them then they wouldn't have been paid.
Tue Oct 16, 2012 9:05 pm
Tue Oct 16, 2012 9:08 pm
swansealad69 wrote:Lol ffe are you lot for real??your what 70 mil in debt and picking holes in our success for 1.5 mil we were in debt for?you very sad bitter twats.
Ps inland revenue got there money back as did most of who was owed as they are still involved with the club and are niw doing well from the clubs success.
So get a grip ffs.
And as for the over paid has beens?i refer to the fowler and other players you have paid massive for nothing.
Truth is you are all hurting at how we have just left you standing,and all by staying out of debt and yoy are the joke of welsh football with huge debt and and owners who treat you like a play thing???
Lol bless
Tue Oct 16, 2012 9:13 pm
Tue Oct 16, 2012 9:28 pm
Lawnmower wrote:NJ73 wrote:Lawnmower wrote:shizzle wrote:Barry Chuckle wrote:shizzle wrote:You seem to really, really care about this but I'm not about to announce which company I own on a public forum. But, it's the truth, simple as that.
And, i'm in no way defending SCFC and how they dealt with companies many years ago, they were terrible, as I have already said.
No, just reminding the Swansea fans that come on here mocking our financial stuation, that your little club was in a worse position not too long ago.
Though I doubt they would remember as they weren't fans then, only been going the last two seasons
And now we make over £14m profit.
How times change.
If this is true, and there are some creditors who have been paid off and some who haven't (like the inland revenue for example) then someone is in a lot of trouble as this action is fraudulent. So a good idea not to go into any detail.
The inland revenue and HMRC were both paid in full as was the rule then as they had preferred creditor status.
Can you substantiate that ?
They may have been preferred creditors, but if there was no money to pay them then they wouldn't have been paid.
Tue Oct 16, 2012 9:29 pm
swansealad69 wrote:Ps allen its in black and white about the plans to extend the ground in stages,starting with the east.
Its on the evening post and it allso says when the club are sure they are staying in the prem the tenders will go out for the plans to be drawn up.
But dont take my word for it just go on seansea city offical site!
You should find it..
Tue Oct 16, 2012 9:31 pm
Tue Oct 16, 2012 9:35 pm
swansealad69 wrote:Lol ffe are you lot for real??your what 70 mil in debt and picking holes in our success for 1.5 mil we were in debt for?you very sad bitter twats.
Ps inland revenue got there money back as did most of who was owed as they are still involved with the club and are niw doing well from the clubs success.
So get a grip ffs.
And as for the over paid has beens?i refer to the fowler and other players you have paid massive for nothing.
Truth is you are all hurting at how we have just left you standing,and all by staying out of debt and yoy are the joke of welsh football with huge debt and and owners who treat you like a play thing???
Lol bless
Tue Oct 16, 2012 9:37 pm
Lawnmower wrote:
Has Hollins been paid his £200k, or Lewis his £80k ?
The details are here... http://www.planetswans.co.uk/NFL/CVA.pdf
Looks like some PAYE/VAT was preferential and a staged agreement made, but quite a lot not.
Interesting how Mr Nurse bought the £800k 'loan' so that he had a big influence in getting it through(for a lot less than £800k - under £50k in fact). I've got a vague recollection that he couldn't stay on the board as he got banned from being a director -although it might have been something else.
But seriously 2 things
1. sl69's claim they have all been paid is obviously crap
2. If some have and some haven't the other jack poster had best keep it to himself.
Fair play though it has been some turnaround.
Tue Oct 16, 2012 9:41 pm
Tue Oct 16, 2012 9:48 pm
NJ73 wrote:Lawnmower wrote:
Has Hollins been paid his £200k, or Lewis his £80k ?
The details are here... http://www.planetswans.co.uk/NFL/CVA.pdf
Looks like some PAYE/VAT was preferential and a staged agreement made, but quite a lot not.
Interesting how Mr Nurse bought the £800k 'loan' so that he had a big influence in getting it through(for a lot less than £800k - under £50k in fact). I've got a vague recollection that he couldn't stay on the board as he got banned from being a director -although it might have been something else.
But seriously 2 things
1. sl69's claim they have all been paid is obviously crap
2. If some have and some haven't the other jack poster had best keep it to himself.
Fair play though it has been some turnaround.
How do you work out that only some of the IR & HMRC money was classed as "Preferred Creditor"?
From recollection, Mel Nurse fell out with some other board members and resigned his directorship several years later. He played a huge part in our survival by purchasing the debt off Ninth Floor (one of our previous owners) and will always be a legend for doing so.
Tue Oct 16, 2012 10:02 pm
Lawnmower wrote:NJ73 wrote:Lawnmower wrote:
Has Hollins been paid his £200k, or Lewis his £80k ?
The details are here... http://www.planetswans.co.uk/NFL/CVA.pdf
Looks like some PAYE/VAT was preferential and a staged agreement made, but quite a lot not.
Interesting how Mr Nurse bought the £800k 'loan' so that he had a big influence in getting it through(for a lot less than £800k - under £50k in fact). I've got a vague recollection that he couldn't stay on the board as he got banned from being a director -although it might have been something else.
But seriously 2 things
1. sl69's claim they have all been paid is obviously crap
2. If some have and some haven't the other jack poster had best keep it to himself.
Fair play though it has been some turnaround.
How do you work out that only some of the IR & HMRC money was classed as "Preferred Creditor"?
From recollection, Mel Nurse fell out with some other board members and resigned his directorship several years later. He played a huge part in our survival by purchasing the debt off Ninth Floor (one of our previous owners) and will always be a legend for doing so.
Read the statement of affairs at the bottom.
It splits the debts between pref and non-pref.
I don't want to say something about Nurse that might be wrong as its a long time ago I saw that one of your directors was disqualified and am not 100% certain who it was -and don't want to be sued if its not him
Wed Oct 17, 2012 5:49 am
Wed Oct 17, 2012 5:57 am
NJ73 wrote:Lawnmower wrote:NJ73 wrote:Lawnmower wrote:
Has Hollins been paid his £200k, or Lewis his £80k ?
The details are here... http://www.planetswans.co.uk/NFL/CVA.pdf
Looks like some PAYE/VAT was preferential and a staged agreement made, but quite a lot not.
Interesting how Mr Nurse bought the £800k 'loan' so that he had a big influence in getting it through(for a lot less than £800k - under £50k in fact). I've got a vague recollection that he couldn't stay on the board as he got banned from being a director -although it might have been something else.
But seriously 2 things
1. sl69's claim they have all been paid is obviously crap
2. If some have and some haven't the other jack poster had best keep it to himself.
Fair play though it has been some turnaround.
How do you work out that only some of the IR & HMRC money was classed as "Preferred Creditor"?
From recollection, Mel Nurse fell out with some other board members and resigned his directorship several years later. He played a huge part in our survival by purchasing the debt off Ninth Floor (one of our previous owners) and will always be a legend for doing so.
Read the statement of affairs at the bottom.
It splits the debts between pref and non-pref.
I don't want to say something about Nurse that might be wrong as its a long time ago I saw that one of your directors was disqualified and am not 100% certain who it was -and don't want to be sued if its not him
The vast majority (albeit seemingly not the whole amount as I previously stated) is though.
Anyway, back to the original point..... £14.6m profit. No too shabby eh
Wed Oct 17, 2012 7:29 am
C. Rombie-Coat wrote:NJ73 wrote:Lawnmower wrote:NJ73 wrote:Lawnmower wrote:
Has Hollins been paid his £200k, or Lewis his £80k ?
The details are here... http://www.planetswans.co.uk/NFL/CVA.pdf
Looks like some PAYE/VAT was preferential and a staged agreement made, but quite a lot not.
Interesting how Mr Nurse bought the £800k 'loan' so that he had a big influence in getting it through(for a lot less than £800k - under £50k in fact). I've got a vague recollection that he couldn't stay on the board as he got banned from being a director -although it might have been something else.
But seriously 2 things
1. sl69's claim they have all been paid is obviously crap
2. If some have and some haven't the other jack poster had best keep it to himself.
Fair play though it has been some turnaround.
How do you work out that only some of the IR & HMRC money was classed as "Preferred Creditor"?
From recollection, Mel Nurse fell out with some other board members and resigned his directorship several years later. He played a huge part in our survival by purchasing the debt off Ninth Floor (one of our previous owners) and will always be a legend for doing so.
Read the statement of affairs at the bottom.
It splits the debts between pref and non-pref.
I don't want to say something about Nurse that might be wrong as its a long time ago I saw that one of your directors was disqualified and am not 100% certain who it was -and don't want to be sued if its not him
The vast majority (albeit seemingly not the whole amount as I previously stated) is though.
Anyway, back to the original point..... £14.6m profit. No too shabby eh
If a company pays no rent for the property it occupies or does not have any loan and interest re-payment obligations in respect of the cost of developing the property, the effect on the balance sheet and the profit and loss account will be unrealistically flattering.
However you look at it the company is being subsidised.
In the case of a private company occupying a publicly owned building there is also a large question over the morality of the situation particularly when the said company has a history of playing fast with the insovency rules and is now crowing over profit figures.
It's almost like someone taking housing benefit then running a brothel from the property in question.
“The council built the stadium using well-being powers and one of the conditions of those powers is that the primary purpose should not be to raise money. Instead, it should promote or improve well-being."
Wed Oct 17, 2012 5:56 pm
NJ73 wrote:Lawnmower wrote:NJ73 wrote:Lawnmower wrote:
Has Hollins been paid his £200k, or Lewis his £80k ?
The details are here... http://www.planetswans.co.uk/NFL/CVA.pdf
Looks like some PAYE/VAT was preferential and a staged agreement made, but quite a lot not.
Interesting how Mr Nurse bought the £800k 'loan' so that he had a big influence in getting it through(for a lot less than £800k - under £50k in fact). I've got a vague recollection that he couldn't stay on the board as he got banned from being a director -although it might have been something else.
But seriously 2 things
1. sl69's claim they have all been paid is obviously crap
2. If some have and some haven't the other jack poster had best keep it to himself.
Fair play though it has been some turnaround.
How do you work out that only some of the IR & HMRC money was classed as "Preferred Creditor"?
From recollection, Mel Nurse fell out with some other board members and resigned his directorship several years later. He played a huge part in our survival by purchasing the debt off Ninth Floor (one of our previous owners) and will always be a legend for doing so.
Read the statement of affairs at the bottom.
It splits the debts between pref and non-pref.
I don't want to say something about Nurse that might be wrong as its a long time ago I saw that one of your directors was disqualified and am not 100% certain who it was -and don't want to be sued if its not him
The vast majority (albeit seemingly not the whole amount as I previously stated) is though.
Anyway, back to the original point..... £14.6m profit. No too shabby eh
Wed Oct 17, 2012 7:44 pm
Lawnmower wrote:NJ73 wrote:Lawnmower wrote:NJ73 wrote:Lawnmower wrote:
Has Hollins been paid his £200k, or Lewis his £80k ?
The details are here... http://www.planetswans.co.uk/NFL/CVA.pdf
Looks like some PAYE/VAT was preferential and a staged agreement made, but quite a lot not.
Interesting how Mr Nurse bought the £800k 'loan' so that he had a big influence in getting it through(for a lot less than £800k - under £50k in fact). I've got a vague recollection that he couldn't stay on the board as he got banned from being a director -although it might have been something else.
But seriously 2 things
1. sl69's claim they have all been paid is obviously crap
2. If some have and some haven't the other jack poster had best keep it to himself.
Fair play though it has been some turnaround.
How do you work out that only some of the IR & HMRC money was classed as "Preferred Creditor"?
From recollection, Mel Nurse fell out with some other board members and resigned his directorship several years later. He played a huge part in our survival by purchasing the debt off Ninth Floor (one of our previous owners) and will always be a legend for doing so.
Read the statement of affairs at the bottom.
It splits the debts between pref and non-pref.
I don't want to say something about Nurse that might be wrong as its a long time ago I saw that one of your directors was disqualified and am not 100% certain who it was -and don't want to be sued if its not him
The vast majority (albeit seemingly not the whole amount as I previously stated) is though.
Anyway, back to the original point..... £14.6m profit. No too shabby eh
No it isn't although I actually thought it would be more given the money received for Rogers and the position you finished. I think Blackpool got £16m when they were relegated.
By the way, in terms of the CVA etc.. I'm not having a go, your directors did what was needed to be done to keep the club alive, and it succeeded. Its not unknown in business and reading back over the old articles it must have been a horrendous time for your fans. I can't say I took that much notice at a time as we had our own issues. It would be a nice gesture id the balance of the debts were paid off, but its not legally required.
However given that you have been through all this I do think that your fans should think twice before trying to make a big deal of our financial issues - it does make you look one-eyed and well for want of another word - PETTY.
Wed Oct 17, 2012 9:30 pm
No Smoking wrote:Lawnmower wrote:NJ73 wrote:Lawnmower wrote:NJ73 wrote:Lawnmower wrote:
Has Hollins been paid his £200k, or Lewis his £80k ?
The details are here... http://www.planetswans.co.uk/NFL/CVA.pdf
Looks like some PAYE/VAT was preferential and a staged agreement made, but quite a lot not.
Interesting how Mr Nurse bought the £800k 'loan' so that he had a big influence in getting it through(for a lot less than £800k - under £50k in fact). I've got a vague recollection that he couldn't stay on the board as he got banned from being a director -although it might have been something else.
But seriously 2 things
1. sl69's claim they have all been paid is obviously crap
2. If some have and some haven't the other jack poster had best keep it to himself.
Fair play though it has been some turnaround.
How do you work out that only some of the IR & HMRC money was classed as "Preferred Creditor"?
From recollection, Mel Nurse fell out with some other board members and resigned his directorship several years later. He played a huge part in our survival by purchasing the debt off Ninth Floor (one of our previous owners) and will always be a legend for doing so.
Read the statement of affairs at the bottom.
It splits the debts between pref and non-pref.
I don't want to say something about Nurse that might be wrong as its a long time ago I saw that one of your directors was disqualified and am not 100% certain who it was -and don't want to be sued if its not him
The vast majority (albeit seemingly not the whole amount as I previously stated) is though.
Anyway, back to the original point..... £14.6m profit. No too shabby eh
No it isn't although I actually thought it would be more given the money received for Rogers and the position you finished. I think Blackpool got £16m when they were relegated.
By the way, in terms of the CVA etc.. I'm not having a go, your directors did what was needed to be done to keep the club alive, and it succeeded. Its not unknown in business and reading back over the old articles it must have been a horrendous time for your fans. I can't say I took that much notice at a time as we had our own issues. It would be a nice gesture id the balance of the debts were paid off, but its not legally required.
However given that you have been through all this I do think that your fans should think twice before trying to make a big deal of our financial issues - it does make you look one-eyed and well for want of another word - PETTY.
Blackpool made £11.4 million after spending nothing and paying peanuts.
Swansea made £14.6 million after spending £14 million on players. Incredible really.