FAO SINCE 62

Keith,

Whats your views on todays news about the Langstone debt, and the idea of Michael Filiou becoming a board member.

The reason i ask is in situations like this regarding the clubs finances im always interested in your views as you have far superior knowledge on this subject than any other fan i know.

Keith,

Whats your views on todays news about the Langstone debt, and the idea of Michael Filiou becoming a board member.

The reason i ask is in situations like this regarding the clubs finances im always interested in your views as you have far superior knowledge on this subject than any other fan i know.

Have been away and not with internet access all day until about 20 mins ago , so have only just picked up on the story so these are just initial comments requiring further research on my part.

If the settlement is £15m in full and final settlement of everything owed to Langston, as appears to be being reported, then this is a good deal as the current debt in the books is about £25m (£15m agreed debt plus £5m interest on that debt , plus £5m bonus on our promotion).

I have seen nothing that clarifies if the settlement also includes Langston waiving its right to stadium naming rights. If it does , better again. Although the club itself will never have to pay anything re this (it would be paid by whoever buys the rights) , to get the claim waived would remove a further £9m of debt shown in the balance sheet - not a debt payable , but has to be shown as such (don`t ask , its a weird accounting thing!!). Also , a waiver would allow the club to sell the rights and keep the money rather than have to pay up to £9m to Langston. So £15m to get £34m of debt cleared from the books seems good to me.

I have never heard of Michael Filiou , the accountant (no reason why I should) , but he appears to be head of a small firm of Certified Accountants (less than 10 employees) based in the Hertfordshire town of Potters Bar and to have acted for other Hammam family businesses in the past.

As for board influence , in practice Mr Filiou will have none as he will of course be outvoted in every case by the majority of Malaysian based employees of Berjaya Corporation

Keith,

Whats your views on todays news about the Langstone debt, and the idea of Michael Filiou becoming a board member.

The reason i ask is in situations like this regarding the clubs finances im always interested in your views as you have far superior knowledge on this subject than any other fan i know.

Have been away and not with internet access all day until about 20 mins ago , so have only just picked up on the story so these are just initial comments requiring further research on my part.

If the settlement is £15m in full and final settlement of everything owed to Langston, as appears to be being reported, then this is a good deal as the current debt in the books is about £25m (£15m agreed debt plus £5m interest on that debt , plus £5m bonus on our promotion).

I have seen nothing that clarifies if the settlement also includes Langston waiving its right to stadium naming rights. If it does , better again. Although the club itself will never have to pay anything re this (it would be paid by whoever buys the rights) , to get the claim waived would remove a further £9m of debt shown in the balance sheet - not a debt payable , but has to be shown as such (don`t ask , its a weird accounting thing!!). Also , a waiver would allow the club to sell the rights and keep the money rather than have to pay up to £9m to Langston. So £15m to get £34m of debt cleared from the books seems good to me.

I have never heard of Michael Filiou , the accountant (no reason why I should) , but he appears to be head of a small firm of Certified Accountants (less than 10 employees) based in the Hertfordshire town of Potters Bar and to have acted for other Hammam family businesses in the past.

As for board influence , in practice Mr Filiou will have none as he will of course be outvoted in every case by the majority of Malaysian based employees of Berjaya Corporation

Interesting

Keith,

Whats your views on todays news about the Langstone debt, and the idea of Michael Filiou becoming a board member.

The reason i ask is in situations like this regarding the clubs finances im always interested in your views as you have far superior knowledge on this subject than any other fan i know.

Have been away and not with internet access all day until about 20 mins ago , so have only just picked up on the story so these are just initial comments requiring further research on my part.

If the settlement is £15m in full and final settlement of everything owed to Langston, as appears to be being reported, then this is a good deal as the current debt in the books is about £25m (£15m agreed debt plus £5m interest on that debt , plus £5m bonus on our promotion).

I have seen nothing that clarifies if the settlement also includes Langston waiving its right to stadium naming rights. If it does , better again. Although the club itself will never have to pay anything re this (it would be paid by whoever buys the rights) , to get the claim waived would remove a further £9m of debt shown in the balance sheet - not a debt payable , but has to be shown as such (don`t ask , its a weird accounting thing!!). Also , a waiver would allow the club to sell the rights and keep the money rather than have to pay up to £9m to Langston. So £15m to get £34m of debt cleared from the books seems good to me.

I have never heard of Michael Filiou , the accountant (no reason why I should) , but he appears to be head of a small firm of Certified Accountants (less than 10 employees) based in the Hertfordshire town of Potters Bar and to have acted for other Hammam family businesses in the past.

As for board influence , in practice Mr Filiou will have none as he will of course be outvoted in every case by the majority of Malaysian based employees of Berjaya Corporation

Interesting

interesting, is that all???? Its flippin awesome! Go do one sam!