UPDATED: £6.6 MILLION PLUS COSTING CARDIFF CITY FC

The cardiff board hide behind the ffp by charging us £6 million in interest next season

which means we are starting next season £6 million down so they don't have to spend as much in the transfer market

they then use mr Morgan to put out the usual we can't afford to break ffp we are on a tight budget etc etc, rather than tell the truth and say it how it is that the board is charging us crazy interest rates aswell as the boards wages!

Who may I add do a awful job and only ever work part time. And before the normal faces say this ain't true the truth is out there for all to see.



UPDATED:

This proves figures are accurate and it's what we will be paying in the current accounting year for the new season.
£6,616,590 in interest:

Plus there's another £2M @9% loan that everyone else has missed, highlighted in yellow.

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The cardiff board hide behind the ffp by charging us £6 million in interest next season

which means we are starting next season £6 million down so they don't have to spend as much in the transfer market

they then use mr Morgan to put out the usual we can't afford to break ffp we are on a tight budget etc etc, rather than tell the truth and say it how it is that the board is charging us crazy interest rates aswell as the boards wages!

Who may I add do a awful job and only ever work part time. And before the normal faces say this ain't true the truth is out there for all to see.

Hi Kyle, thanks for sharing this. It would be helpful if you could put up a link supporting your statement that we are paying £6M in interest to the board members every year. Thanks in advance.

I have been off the forum for a while, if you look at that £six million they get in interest alone, when they themselves stated they would never charge us a penny, it’s outrageous, and even worse they hide behind this not to spend

The cardiff board hide behind the ffp by charging us £6 million in interest next season

which means we are starting next season £6 million down so they don't have to spend as much in the transfer market

they then use mr Morgan to put out the usual we can't afford to break ffp we are on a tight budget etc etc, rather than tell the truth and say it how it is that the board is charging us crazy interest rates aswell as the boards wages!

Who may I add do a awful job and only ever work part time. And before the normal faces say this ain't true the truth is out there for all to see.

Hi Kyle, thanks for sharing this. It would be helpful if you could put up a link supporting your statement that we are paying £6M in interest to the board members every year. Thanks in advance.

Jim,

If you search the CCFC Accounts for last year it’s all stated in them and Grangendstar put it all out over the last 3 weeks, even Wez will admit it’s sadly true.


Jim,

Dalman lent us nearly £30mins at 9% interest, Another Company has lent us money etc at 9% interest etc

The cardiff board hide behind the ffp by charging us £6 million in interest next season

which means we are starting next season £6 million down so they don't have to spend as much in the transfer market

they then use mr Morgan to put out the usual we can't afford to break ffp we are on a tight budget etc etc, rather than tell the truth and say it how it is that the board is charging us crazy interest rates aswell as the boards wages!

Who may I add do a awful job and only ever work part time. And before the normal faces say this ain't true the truth is out there for all to see.

Hi Kyle, thanks for sharing this. It would be helpful if you could put up a link supporting your statement that we are paying £6M in interest to the board members every year. Thanks in advance.

Jim,

If you search the CCFC Accounts for last year it’s all stated in them and Grangendstar put it all out over the last 3 weeks, even Wez will admit it’s sadly true.

Jim,

Dalman lent us nearly £30mins at 9% interest, Another Company has lent us money etc at 9% interest etc

Well, if that's the case, it's like going into a boxing match every round (in our case each season) with one arm tied behind your back!

As you know Annis, I have tried to keep faith with Tan for longer than most......better the Devil you know! But, over recent months, I have come to the conclusion that a change of owner/board is not just preferable, it is a MUST.

On another thread it was intimated that the silence from this board, especially toward us fans, is absolutely deafening. I totally agree and this absolute arrogance and total disdain for the lifeblood of our club, namely us poor old withering "customers" (sorry, I meant fans!) was one, of a few reasons, that I decided not to renew my ST.

Which ever way you look, something drastic has to change.

The cardiff board hide behind the ffp by charging us £6 million in interest next season

which means we are starting next season £6 million down so they don't have to spend as much in the transfer market

they then use mr Morgan to put out the usual we can't afford to break ffp we are on a tight budget etc etc, rather than tell the truth and say it how it is that the board is charging us crazy interest rates aswell as the boards wages!

Who may I add do a awful job and only ever work part time. And before the normal faces say this ain't true the truth is out there for all to see.

Hi Kyle, thanks for sharing this. It would be helpful if you could put up a link supporting your statement that we are paying £6M in interest to the board members every year. Thanks in advance.

Jim,

If you search the CCFC Accounts for last year it’s all stated in them and Grangendstar put it all out over the last 3 weeks, even Wez will admit it’s sadly true.

Jim,

Dalman lent us nearly £30mins at 9% interest, Another Company has lent us money etc at 9% interest etc

Well, if that's the case, it's like going into a boxing match every round (in our case each season) with one arm tied behind your back!

As you know Annis, I have tried to keep faith with Tan for longer than most......better the Devil you know! But, over recent months, I have come to the conclusion that a change of owner/board is not just preferable, it is a MUST.

On another thread it was intimated that the silence from this board, especially toward us fans, is absolutely deafening. I totally agree and this absolute arrogance and total disdain for the lifeblood of our club, namely us poor old withering "customers" (sorry, I meant fans!) was one, of a few reasons, that I decided not to renew my ST.

Which ever way you look, something drastic has to change.

Well PA that could happen if Tan was not so stubborn.

Irrespective of how high our debt is and irrespective on how much high interest Tan , Dalman etc….is charging us ……the fact remains is that we are far far far too much in debt and alarmingly so ….because it is heavily affecting our progress .


The debt (100% the actual responsibility of Tan ) is so high that Tan is no longer able or willing to keep throwing money on us . It is affecting our progress very badly.

You do not have the required permissions to view the files attached to this post.

In reality it doesn't cost a penny in intrest to us as 10s of millions each season is written off by tan .it's getting abit tire some these types of post now.the agenda fron some is very clear certain poaters are just trying to divide the fan base once again .

These loans and interest rates will bankrupt our club!


its like being in a hole with no way out. We cannot invest in players to build our club to a higher standard. Or to invest in decent young players to maybe sell to make money that way. As while we are in so much debt with high interest we have not much wiggle room with FFP to build any sort of a team. I think this is general bad business with the directors of the club, maybe not on purpose, but without the insight of what might happen. I think they may feel they are trapped as no one is going to buy or invest in the club while they are asking for so much money and we are in so much debt. I cannot see any solution to it! Where do we go from here?

In reality it doesn't cost a penny in intrest to us as 10s of millions each season is written off by tan .it's getting abit tire some these types of post now.the agenda fron some is very clear certain poaters are just trying to divide the fan base once again .

Sometimes Wez you need a rocket up your backside.

The fact we are being charged 9%, that will go through the books, is restricting us to investing in the squad. Keeping it simple FFP allows us to spend £11m a season but we are down to £5m (£11m - £6m = £5m) before we start.

Tan can write off as much as he wants but it will make no difference to FFP.

The cardiff board hide behind the ffp by charging us £6 million in interest next season

which means we are starting next season £6 million down so they don't have to spend as much in the transfer market

they then use mr Morgan to put out the usual we can't afford to break ffp we are on a tight budget etc etc, rather than tell the truth and say it how it is that the board is charging us crazy interest rates aswell as the boards wages!

Who may I add do a awful job and only ever work part time. And before the normal faces say this ain't true the truth is out there for all to see.

Hi Kyle, thanks for sharing this. It would be helpful if you could put up a link supporting your statement that we are paying £6M in interest to the board members every year. Thanks in advance.

Jim,

If you search the CCFC Accounts for last year it’s all stated in them and Grangendstar put it all out over the last 3 weeks, even Wez will admit it’s sadly true.


Jim,

Dalman lent us nearly £30mins at 9% interest, Another Company has lent us money etc at 9% interest etc

Annis, Jim,

Here is the breakdown from the lastest accounts:

1: Tormen (MD) - £27M @ 9% = £2.5M PA
2: "New Loan" (Undisclosed) - £19 @ 9% = £1.7M PA
4: VT - £64M @ Split, some non interest bearing, so assume a conservative of at @9% - £2.2M PA

TOTAL INTEREST = £6.4M PA

I've rounded up and also down on VTs loan but the figures should be fairly accurate but I will caveat that I maybe wrong so that it doesn't bite me on my hairy arse.

There is a further loan of £3M from VTs son which is not interest bearing but does prove that CCFC is part of the Berjayas family business, and they want out.

All loans appear to be unsecured which means that it would appear that VT has declared he is personally liable for them. Which is a good thing as opposed to securing it in an asset like that stadium etc.

I believe our gate income is circa £5M PA so that income is essentially covering most of the £6.4M PA interest.

So from a standing start we are at least £6.6M this season although I believe we have circa £10M coming in from the Miller OOC settlement and two EFL tranches.

Tan has promised and undertaken to make us debt free !!!!

He has never done so !

His “brown nosed” apologists ….do not call him out on it.


Having a healthy financial situation is very central to our success .

Tan is failing miserably in that very important responsibility .

What is more alarming , is that he clearly is impotent and unable or unwilling to do much about it …..and it is getting worst .


I speak for many supporters when I ask Tan …..when are you going to honor your commitment to make us debt free ? Are you now out of your depth financially ?

You do not have the required permissions to view the files attached to this post.

The Championship side received close to £30m in loans from the Malaysian businessman and connected parties during a campaign that saw the club avoid relegation in the final weeks of the season.

However, Cardiff repaid £2m of the monies owed to Tan, with a further £36.48m converted into shares.

It left the debt owed to the club's majority shareholder last summer at £63.87m, a drop from the £73.04m recorded in the previous accounts.

What worries me more than anything is that we don’t know who the other party is who we owe so much money too. Hi ow did this happen when Tan said he would deal and be responsible with all the finances ?

The cardiff board hide behind the ffp by charging us £6 million in interest next season

which means we are starting next season £6 million down so they don't have to spend as much in the transfer market

they then use mr Morgan to put out the usual we can't afford to break ffp we are on a tight budget etc etc, rather than tell the truth and say it how it is that the board is charging us crazy interest rates aswell as the boards wages!

Who may I add do a awful job and only ever work part time. And before the normal faces say this ain't true the truth is out there for all to see.

Hi Kyle, thanks for sharing this. It would be helpful if you could put up a link supporting your statement that we are paying £6M in interest to the board members every year. Thanks in advance.

Jim,

If you search the CCFC Accounts for last year it’s all stated in them and Grangendstar put it all out over the last 3 weeks, even Wez will admit it’s sadly true.

Jim,

Dalman lent us nearly £30mins at 9% interest, Another Company has lent us money etc at 9% interest etc

Well, if that's the case, it's like going into a boxing match every round (in our case each season) with one arm tied behind your back!

As you know Annis, I have tried to keep faith with Tan for longer than most......better the Devil you know! But, over recent months, I have come to the conclusion that a change of owner/board is not just preferable, it is a MUST.

On another thread it was intimated that the silence from this board, especially toward us fans, is absolutely deafening. I totally agree and this absolute arrogance and total disdain for the lifeblood of our club, namely us poor old withering "customers" (sorry, I meant fans!) was one, of a few reasons, that I decided not to renew my ST.


Which ever way you look, something drastic has to change.

Jim,


You’ve always been down the middle, but your right we are getting further and further in financial trouble whilst the lunatic thinks he can get £200Mill for us.

I agree about we start the new seasons already in difficulty due to minus £6mill.
But this is how the Clowns are running OUR Club.

36 million converted into shares n the last account basically tan gave us 36 million , ffs this costing post is laughable , each season the debt goes down and tan either completely writes off some debt or its converted into shares . 6 million om this original op is a drop in tbe ocean compare to the write offs .

The cardiff board hide behind the ffp by charging us £6 million in interest next season

which means we are starting next season £6 million down so they don't have to spend as much in the transfer market

they then use mr Morgan to put out the usual we can't afford to break ffp we are on a tight budget etc etc, rather than tell the truth and say it how it is that the board is charging us crazy interest rates aswell as the boards wages!

Who may I add do a awful job and only ever work part time. And before the normal faces say this ain't true the truth is out there for all to see.

Hi Kyle, thanks for sharing this. It would be helpful if you could put up a link supporting your statement that we are paying £6M in interest to the board members every year. Thanks in advance.

Jim,

If you search the CCFC Accounts for last year it’s all stated in them and Grangendstar put it all out over the last 3 weeks, even Wez will admit it’s sadly true.


Jim,

Dalman lent us nearly £30mins at 9% interest, Another Company has lent us money etc at 9% interest etc

Annis, Jim,

Here is the breakdown from the lastest accounts:

1: Tormen (MD) - £27M @ 9% = £2.5M PA
2: "New Loan" (Undisclosed) - £19 @ 9% = £1.7M PA
4: VT - £64M @ Split, some non interest bearing, so assume a conservative of at @9% - £2.2M PA

TOTAL INTEREST = £6.4M PA

I've rounded up and also down on VTs loan but the figures should be fairly accurate but I will caveat that I maybe wrong so that it doesn't bite me on my hairy arse.

There is a further loan of £3M from VTs son which is not interest bearing but does prove that CCFC is part of the Berjayas family business, and they want out.

All loans appear to be unsecured which means that it would appear that VT has declared he is personally liable for them. Which is a good thing as opposed to securing it in an asset like that stadium etc.

I believe our gate income is circa £5M PA so that income is essentially covering most of the £6.4M PA interest.

So from a standing start we are at least £6.6M this season although I believe we have circa £10M coming in from the Miller OOC settlement and two EFL tranches.

Cheers Paul, Our Financial Advisor for putting the facts out and shutting up Tans only fan




Here is the breakdown from the lastest accounts:

1: Tormen (MD) - £27M @ 9% = £2.5M PA
2: "New Loan" (Undisclosed) - £19 @ 9% = £1.7M PA
4: VT - £64M @ Split, some non interest bearing, so assume a conservative of at @9% - £2.2M PA

TOTAL INTEREST = £6.4M PA



I HONESTLY WONT BE REPLYING TO TANS NO 1 FAN / AS THE FACTS ARE THERE & HE STILL WILL BACK THE DICTATOR NO MATTER WHAT EVEN UF HE BANKRUPTED US.

BUT HE WONT PUT IT ON FB: Hmmmmmmmmmmmmm?

?

In reality it doesn't cost a penny in intrest to us as 10s of millions each season is written off by tan .it's getting abit tire some these types of post now.the agenda fron some is very clear certain poaters are just trying to divide the fan base once again .

Sometimes Wez you need a rocket up your backside.

The fact we are being charged 9%, that will go through the books, is restricting us to investing in the squad. Keeping it simple FFP allows us to spend £11m a season but we are down to £5m (£11m - £6m = £5m) before we start.

Tan can write off as much as he wants but it will make no difference to FFP.

Absolute rubbish that is cause the intrest is never paid out its part of the write off,

The cardiff board hide behind the ffp by charging us £6 million in interest next season

which means we are starting next season £6 million down so they don't have to spend as much in the transfer market

they then use mr Morgan to put out the usual we can't afford to break ffp we are on a tight budget etc etc, rather than tell the truth and say it how it is that the board is charging us crazy interest rates aswell as the boards wages!

Who may I add do a awful job and only ever work part time. And before the normal faces say this ain't true the truth is out there for all to see.

Hi Kyle, thanks for sharing this. It would be helpful if you could put up a link supporting your statement that we are paying £6M in interest to the board members every year. Thanks in advance.

Jim,

If you search the CCFC Accounts for last year it’s all stated in them and Grangendstar put it all out over the last 3 weeks, even Wez will admit it’s sadly true.

Jim,

Dalman lent us nearly £30mins at 9% interest, Another Company has lent us money etc at 9% interest etc

Annis, Jim,

Here is the breakdown from the lastest accounts:

1: Tormen (MD) - £27M @ 9% = £2.5M PA
2: "New Loan" (Undisclosed) - £19 @ 9% = £1.7M PA
4: VT - £64M @ Split, some non interest bearing, so assume a conservative of at @9% - £2.2M PA

TOTAL INTEREST = £6.4M PA

I've rounded up and also down on VTs loan but the figures should be fairly accurate but I will caveat that I maybe wrong so that it doesn't bite me on my hairy arse.

There is a further loan of £3M from VTs son which is not interest bearing but does prove that CCFC is part of the Berjayas family business, and they want out.

All loans appear to be unsecured which means that it would appear that VT has declared he is personally liable for them. Which is a good thing as opposed to securing it in an asset like that stadium etc.

I believe our gate income is circa £5M PA so that income is essentially covering most of the £6.4M PA interest.

So from a standing start we are at least £6.6M this season although I believe we have circa £10M coming in from the Miller OOC settlement and two EFL tranches.

Cheers Paul, Our Financial Advisor for putting the facts out and shutting up Tans only fan

Here is the breakdown from the lastest accounts:

1: Tormen (MD) - £27M @ 9% = £2.5M PA
2: "New Loan" (Undisclosed) - £19 @ 9% = £1.7M PA
4: VT - £64M @ Split, some non interest bearing, so assume a conservative of at @9% - £2.2M PA

TOTAL INTEREST = £6.4M PA

I HONESTLY WONT BE REPLYING TO TANS NO 1 FAN / AS THE FACTS ARE THERE & HE STILL WILL BACK THE DICTATOR NO MATTER WHAT EVEN UF HE BANKRUPTED US.

BUT HE WONT PUT IT ON FB: Hmmmmmmmmmmmmm?

?

The Championship side received close to £30m in loans from the Malaysian businessman and connected parties during a campaign that saw the club avoid relegation in the final weeks of the season.

However, Cardiff repaid £2m of the monies owed to Tan, with a further £36.48m converted into shares.

Hmmmmmmmmmmmmm 36 million converted . A summer of constant rehashing of negative stories coming up i see on this mesageboard .from a hand full of posters on here.cant wait for the season to start to actually talk about football .

The cardiff board hide behind the ffp by charging us £6 million in interest next season

which means we are starting next season £6 million down so they don't have to spend as much in the transfer market

they then use mr Morgan to put out the usual we can't afford to break ffp we are on a tight budget etc etc, rather than tell the truth and say it how it is that the board is charging us crazy interest rates aswell as the boards wages!

Who may I add do a awful job and only ever work part time. And before the normal faces say this ain't true the truth is out there for all to see.

Hi Kyle, thanks for sharing this. It would be helpful if you could put up a link supporting your statement that we are paying £6M in interest to the board members every year. Thanks in advance.

Jim,

If you search the CCFC Accounts for last year it’s all stated in them and Grangendstar put it all out over the last 3 weeks, even Wez will admit it’s sadly true.


Jim,

Dalman lent us nearly £30mins at 9% interest, Another Company has lent us money etc at 9% interest etc

Annis, Jim,

Here is the breakdown from the lastest accounts:

1: Tormen (MD) - £27M @ 9% = £2.5M PA
2: "New Loan" (Undisclosed) - £19 @ 9% = £1.7M PA
4: VT - £64M @ Split, some non interest bearing, so assume a conservative of at @9% - £2.2M PA

TOTAL INTEREST = £6.4M PA

I've rounded up and also down on VTs loan but the figures should be fairly accurate but I will caveat that I maybe wrong so that it doesn't bite me on my hairy arse.

There is a further loan of £3M from VTs son which is not interest bearing but does prove that CCFC is part of the Berjayas family business, and they want out.

All loans appear to be unsecured which means that it would appear that VT has declared he is personally liable for them. Which is a good thing as opposed to securing it in an asset like that stadium etc.

I believe our gate income is circa £5M PA so that income is essentially covering most of the £6.4M PA interest.

So from a standing start we are at least £6.6M this season although I believe we have circa £10M coming in from the Miller OOC settlement and two EFL tranches.

Cheers Paul, Our Financial Advisor for putting the facts out and shutting up Tans only fan




Here is the breakdown from the lastest accounts:

1: Tormen (MD) - £27M @ 9% = £2.5M PA
2: "New Loan" (Undisclosed) - £19 @ 9% = £1.7M PA
4: VT - £64M @ Split, some non interest bearing, so assume a conservative of at @9% - £2.2M PA

TOTAL INTEREST = £6.4M PA



I HONESTLY WONT BE REPLYING TO TANS NO 1 FAN / AS THE FACTS ARE THERE & HE STILL WILL BACK THE DICTATOR NO MATTER WHAT EVEN UF HE BANKRUPTED US.

BUT HE WONT PUT IT ON FB: Hmmmmmmmmmmmmm?

?

I'm no financial advisor or expert Annis but I have to do this 'top line" sort of thing as part of what I do in evaluating companies to target to do business with. But I'll take the compliment

The significance in with all this is that the director and auditor statement I originally posted on our previous finances state that as we are essentially reliant on on VT to raise new funding from himself or as guarantor on new loans, as there is concern on his ability or willingness to do so based on certain possible risk event scenarios.

So we cannot just assume that VT is a bottomless magic money machine. All of this affects the most important factor in how we perform and achieve sustainable PL status so that VT can get his money back which is presently £250M (half of his net worth) and will grow season on season until we achieve his and our aim.

And a sensible budget over either 3 or 5 years would be apprx £100M. So he's now up to £350M which of course could be £300M if we win the ES case. And that's a big if.

Even if we do go up via playoffs somehow next season, unless we have a squad that is in the right shape to complete, we would then have to spend significantly to bolster otherwise we will come straight back down as we have seen with Sheff UTD, Burnley and Luton.

This all requires military precision planning and execution and most importantly it starts at the very top. All of this is possible but it requires structural change at the top and unless that happens, we will remain in the situation that again we see ourselves now in with no confirmation of EB and no idea if a reasonable budget will be available for all the points I've stated.

It is mind numbingly boring but so am I (I jest of course) but it is vital fans appreciate how all this works, as the finances determine the success of any club, everything is dependent on that.

And before I sign off as I'm ill (not man flu), the really important thing for all fans is don't lose sight of where we should be. A sustainable successful PL club in a similar shape to Brighton, if not better.

Do keep that available vision and goal in mind as everything else is detail on the small stuff that we should not even have to be discussing like this when we all should be celebrating in Canton after beating Man City at home again.

I'm off for a lie down.

Last edited by GrangeEndStar on Mon May 27, 2024 8:54 am, edited 1 time in total.

9% interest on an unsecured loan to a football club seems cheap.

GREAT POST BY GRANGENDSTAR aka Paul


EXPLAINS IT ALL YET AGAIN


The significance in with all this is that the director and auditor statement I originally posted on our previous finances state that as we are essentially reliant on on VT to raise new funding from himself or as guarantor on new loans, as there is concern on his ability or willingness to do so based on certain possible risk event scenarios.

So we cannot just assume that VT is a bottomless magic money machine. All of this affects the most important factor in how we perform and achieve sustainable PL status so that VT can get his money back which is presently £250M (half of his net worth) and will grow season on season until we achieve his and our aim.

And a sensible budget over either 3 or 5 years would be apprx £100M. So he's now up to £350M which of course could be £300M if we win the ES case. And that's a big if.

Even if we do go up via playoffs somehow next season, unless we have a squad that is in the right shape to complete, we would then have to spend significantly to bolster otherwise we will come straight back down as we have seen with Sheff UTD, Burnley and Luton.

This all requires military precision planning and execution and most importantly it starts at the very top. All of this is possible but it requires structural change at the top and unless that happens, we will remain in the situation that again we see ourselves now in with no confirmation of EB and no idea if a reasonable budget will be available for all the points I've stated.

It is mind numbingly boring but so am I (I jest of course) but it is vital fans appreciate how all this works, as the finances determine the success of any club, everything is dependent on that.

And before I sign off as I'm ill (not man flu), the really important thing for all fans is don't lose sight of where we should be. A sustainable successful PL club in a similar shape to Brighton, if not better.

Do keep that available vision and goal in mind as everything else is detail on the small stuff that we should not even have to be discussing like this when we all should be celebrating in Canton after beating Man City at home again.

You do not have the required permissions to view the files attached to this post.

9% interest on an unsecured loan to a football club seems cheap.

It's actually pretty reasonable if it's your own money that you maybe lending yourself. Just saying.

The cardiff board hide behind the ffp by charging us £6 million in interest next season

which means we are starting next season £6 million down so they don't have to spend as much in the transfer market

they then use mr Morgan to put out the usual we can't afford to break ffp we are on a tight budget etc etc, rather than tell the truth and say it how it is that the board is charging us crazy interest rates aswell as the boards wages!

Who may I add do a awful job and only ever work part time. And before the normal faces say this ain't true the truth is out there for all to see.

Hi Kyle, thanks for sharing this. It would be helpful if you could put up a link supporting your statement that we are paying £6M in interest to the board members every year. Thanks in advance.

Jim,

If you search the CCFC Accounts for last year it’s all stated in them and Grangendstar put it all out over the last 3 weeks, even Wez will admit it’s sadly true.


Jim,

Dalman lent us nearly £30mins at 9% interest, Another Company has lent us money etc at 9% interest etc

Annis, Jim,

Here is the breakdown from the lastest accounts:

1: Tormen (MD) - £27M @ 9% = £2.5M PA
2: "New Loan" (Undisclosed) - £19 @ 9% = £1.7M PA
4: VT - £64M @ Split, some non interest bearing, so assume a conservative of at @9% - £2.2M PA

TOTAL INTEREST = £6.4M PA

I've rounded up and also down on VTs loan but the figures should be fairly accurate but I will caveat that I maybe wrong so that it doesn't bite me on my hairy arse.

There is a further loan of £3M from VTs son which is not interest bearing but does prove that CCFC is part of the Berjayas family business, and they want out.

All loans appear to be unsecured which means that it would appear that VT has declared he is personally liable for them. Which is a good thing as opposed to securing it in an asset like that stadium etc.

I believe our gate income is circa £5M PA so that income is essentially covering most of the £6.4M PA interest.

So from a standing start we are at least £6.6M this season although I believe we have circa £10M coming in from the Miller OOC settlement and two EFL tranches.

Cheers Paul, Our Financial Advisor for putting the facts out and shutting up Tans only fan




Here is the breakdown from the lastest accounts:

1: Tormen (MD) - £27M @ 9% = £2.5M PA
2: "New Loan" (Undisclosed) - £19 @ 9% = £1.7M PA
4: VT - £64M @ Split, some non interest bearing, so assume a conservative of at @9% - £2.2M PA

TOTAL INTEREST = £6.4M PA



I HONESTLY WONT BE REPLYING TO TANS NO 1 FAN / AS THE FACTS ARE THERE & HE STILL WILL BACK THE DICTATOR NO MATTER WHAT EVEN UF HE BANKRUPTED US.

BUT HE WONT PUT IT ON FB: Hmmmmmmmmmmmmm?

?

I'm no financial advisor or expert Annis but I have to do this 'top line" sort of thing as part of what I do in evaluating companies to target to do business with. But I'll take the compliment

The significance in with all this is that the director and auditor statement I originally posted on our previous finances state that as we are essentially reliant on on VT to raise new funding from himself or as guarantor on new loans, as there is concern on his ability or willingness to do so based on certain possible risk event scenarios.

So we cannot just assume that VT is a bottomless magic money machine. All of this affects the most important factor in how we perform and achieve sustainable PL status so that VT can get his money back which is presently £250M (half of his net worth) and will grow season on season until we achieve his and our aim.

And a sensible budget over either 3 or 5 years would be apprx £100M. So he's now up to £350M which of course could be £300M if we win the ES case. And that's a big if.

Even if we do go up via playoffs somehow next season, unless we have a squad that is in the right shape to complete, we would then have to spend significantly to bolster otherwise we will come straight back down as we have seen with Sheff UTD, Burnley and Luton.

This all requires military precision planning and execution and most importantly it starts at the very top. All of this is possible but it requires structural change at the top and unless that happens, we will remain in the situation that again we see ourselves now in with no confirmation of EB and no idea if a reasonable budget will be available for all the points I've stated.

It is mind numbingly boring but so am I (I jest of course) but it is vital fans appreciate how all this works, as the finances determine the success of any club, everything is dependent on that.

And before I sign off as I'm ill (not man flu), the really important thing for all fans is don't lose sight of where we should be. A sustainable successful PL club in a similar shape to Brighton, if not better.

Do keep that available vision and goal in mind as everything else is detail on the small stuff that we should not even have to be discussing like this when we all should be celebrating in Canton after beating Man City at home again.

I'm off for a lie down.

Paul,

A well deserved rest after trying yet again to explain to certain poster what’s really happening and how bad a state we really are in.

The Truth hurts, but we have to accept reality.

9% interest on an unsecured loan to a football club seems cheap.

It's actually pretty reasonable if it's your own money that you maybe lending yourself. Just saying.

You’ve taken the words right out of my mouth as they are lending their own money, but charging Our Club.

And wages for two of them who actually work in London.

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The significance in with all this is that the director and auditor statement I originally posted on our previous finances state that as we are essentially reliant on on VT to raise new funding from himself or as guarantor on new loans, as there is concern on his ability or willingness to do so based on certain possible risk event scenarios.

So we cannot just assume that VT is a bottomless magic money machine. All of this affects the most important factor in how we perform and achieve sustainable PL status so that VT can get his money back which is presently £250M (half of his net worth) and will grow season on season until we achieve his and our aim.

And a sensible budget over either 3 or 5 years would be apprx £100M. So he's now up to £350M which of course could be £300M if we win the ES case. And that's a big if.

Even if we do go up via playoffs somehow next season, unless we have a squad that is in the right shape to complete, we would then have to spend significantly to bolster otherwise we will come straight back down as we have seen with Sheff UTD, Burnley and Luton.

This all requires military precision planning and execution and most importantly it starts at the very top. All of this is possible but it requires structural change at the top and unless that happens, we will remain in the situation that again we see ourselves now in with no confirmation of EB and no idea if a reasonable budget will be available for all the points I've stated.

It is mind numbingly boring but so am I (I jest of course) but it is vital fans appreciate how all this works, as the finances determine the success of any club, everything is dependent on that.

And before I sign off as I'm ill (not man flu), the really important thing for all fans is don't lose sight of where we should be. A sustainable successful PL club in a similar shape to Brighton, if not better.

Do keep that available vision and goal in mind as everything else is detail on the small stuff that we should not even have to be discussing like this when we all should be celebrating in Canton after beating Man City at home again.

When you run a business that loses money year on year I.e a non premiership football team you either find a wealthy investor who is prepared to lose his wealth, borrow from banks who funnily enough don’t lend to loss making businesses or to investors who are prepared to gamble on getting to the premiership and charge interest for doing so.

Tan has understandably given up on losing vast amounts of his wealth having failed in his dream of running a sustainable premiership football club (totally self inflicted having tried to do it all by himself) and has tried, or been forced, to go another route by allowing others to invest e.g. Dalman

To be fair to Tan he has been writing of his interest and converting his debt to shares, albeit not at the rate he originally envisaged due to his diminishing wealth.

Dalman isn’t wealthy enough to write off his interest and his investment isn’t at all sensible from a business point of view and surely has to be on the back of a potential consortium buyout.

Tan obviously wants to get the club into the premiership as it’s the only way to get his money back. Dalman is obviously aware of this and suspect he and his backers truly believed Bulut was their golden ticket to get the club into the Premiership and Tan gambled on this and was why Dalman was handed the reigns last season. I suspect Tan has once again been persuaded by Dalman to give Bulut another chance for this very reason and just maybe he will be given some sort of budget to do so this time.

One last role of the dice by Tan maybe before he’s left with no choice but to follow his family’s wishes to exit the business and potentially take up one of the offers he has been receiving, even Sam’s!

When you run a business that loses money year on year I.e a non premiership football team you either find a wealthy investor who is prepared to lose his wealth, borrow from banks who funnily enough don’t lend to loss making businesses or to investors who are prepared to gamble on getting to the premiership and charge interest for doing so.

Tan has understandably given up on losing vast amounts of his wealth having failed in his dream of running a sustainable premiership football club (totally self inflicted having tried to do it all by himself) and has tried, or been forced, to go another route by allowing others to invest e.g. Dalman

To be fair to Tan he has been writing of his interest and converting his debt to shares, albeit not at the rate he originally envisaged due to his diminishing wealth.

Dalman isn’t wealthy enough to write off his interest and his investment isn’t at all sensible from a business point of view and surely has to be on the back of a potential consortium buyout.

Tan obviously wants to get the club into the premiership as it’s the only way to get his money back. Dalman is obviously aware of this and suspect he and his backers truly believed Bulut was their golden ticket to get the club into the Premiership and Tan gambled on this and was why Dalman was handed the reigns last season. I suspect Tan has once again been persuaded by Dalman to give Bulut another chance for this very reason and just maybe he will be given some sort of budget to do so this time.

9% interest on an unsecured loan to a football club seems cheap.

It's actually pretty reasonable if it's your own money that you maybe lending yourself. Just saying.

Would have thought that if the club could have obtained the unsecured funding elsewhere at cheaper rates they would have done so?

The significance in with all this is that the director and auditor statement I originally posted on our previous finances state that as we are essentially reliant on on VT to raise new funding from himself or as guarantor on new loans, as there is concern on his ability or willingness to do so based on certain possible risk event scenarios.

So we cannot just assume that VT is a bottomless magic money machine. All of this affects the most important factor in how we perform and achieve sustainable PL status so that VT can get his money back which is presently £250M (half of his net worth) and will grow season on season until we achieve his and our aim.

And a sensible budget over either 3 or 5 years would be apprx £100M. So he's now up to £350M which of course could be £300M if we win the ES case. And that's a big if.

Even if we do go up via playoffs somehow next season, unless we have a squad that is in the right shape to complete, we would then have to spend significantly to bolster otherwise we will come straight back down as we have seen with Sheff UTD, Burnley and Luton.

This all requires military precision planning and execution and most importantly it starts at the very top. All of this is possible but it requires structural change at the top and unless that happens, we will remain in the situation that again we see ourselves now in with no confirmation of EB and no idea if a reasonable budget will be available for all the points I've stated.

It is mind numbingly boring but so am I (I jest of course) but it is vital fans appreciate how all this works, as the finances determine the success of any club, everything is dependent on that.

And before I sign off as I'm ill (not man flu), the really important thing for all fans is don't lose sight of where we should be. A sustainable successful PL club in a similar shape to Brighton, if not better.

Do keep that available vision and goal in mind as everything else is detail on the small stuff that we should not even have to be discussing like this when we all should be celebrating in Canton after beating Man City at home again.

When you run a business that loses money year on year I.e a non premiership football team you either find a wealthy investor who is prepared to lose his wealth, borrow from banks who funnily enough don’t lend to loss making businesses or to investors who are prepared to gamble on getting to the premiership and charge interest for doing so.

Tan has understandably given up on losing vast amounts of his wealth having failed in his dream of running a sustainable premiership football club (totally self inflicted having tried to do it all by himself) and has tried, or been forced, to go another route by allowing others to invest e.g. Dalman

To be fair to Tan he has been writing of his interest and converting his debt to shares, albeit not at the rate he originally envisaged due to his diminishing wealth.

Dalman isn’t wealthy enough to write off his interest and his investment isn’t at all sensible from a business point of view and surely has to be on the back of a potential consortium buyout.

Tan obviously wants to get the club into the premiership as it’s the only way to get his money back. Dalman is obviously aware of this and suspect he and his backers truly believed Bulut was their golden ticket to get the club into the Premiership and Tan gambled on this and was why Dalman was handed the reigns last season. I suspect Tan has once again been persuaded by Dalman to give Bulut another chance for this very reason and just maybe he will be given some sort of budget to do so this time.

One last role of the dice by Tan maybe before he’s left with no choice but to follow his family’s wishes to exit the business and potentially take up one of the offers he has been receiving, even Sam’s!

Couldn't agree more. But Dalman, who is VTs mouthpiece and PR rep has also stated at least twice publicly, specifically & exclusively, and without being prompted by a question, that he would not sell to Sam or any entity that he is involved in.

I find this incredibly suspicious and rather revealing. Sam of course could do a great job even if just running the whole football show with Tans money.

So why would Dalman say this at least twice publicly and as an opening statement before answering any questions? Hmmmm.

I've long thought that he's waiting for VT to reach his point of no return and sell, and to who better that his "trusted advisor".

And all jokes aside, it might not be the worst thing to happen . But then MD has the same problem that VT has, he needs to get someone in with proven football expertise to run the whole football show.

And if I take all sentiment out and was just advising the club as a football business consultant, Sam would be top of my shortlist and for all of the right seasons.

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Dalman Says:


https://m.youtube.com/watch?feature=sha ... JHPfpOnDzg