Matt 0 Posted December 1, 2008 Share Posted December 1, 2008 I think they're just being careful with words. Ashley had to either refinance or repay the remaining stadium loan as he triggered a change of control clause. Money outstanding on transfers may be considered as 'trade payables' and could be classed differently to long-term debt, at least in lay parlance (not sure of the exact accounting requirement). That would mean Ashley cleared the 'debt' rather than all monies owed. This isn't a major surprise- there is nothing to be gained by repaying things early if there's no discount to be gained from it. We might as well just hold onto our cash until those bills fall due. This will be part of any due diligence and won't come as some sort of shock or devestating blow to the procedure- it would have been apparent within about 30 seconds of being handed a copy of the balance sheet. It remains to be seen exactly what happened to our cash position, which IIRC was about £17m in the red at last public accounts. Link to comment Share on other sites More sharing options...
Fop 1 Posted December 1, 2008 Share Posted December 1, 2008 This is priceless.....people are just making up numbers now. I have still yet to see a quote from Ashley saying that he had paid down all of the clubs debt including player payments. Fuck me. There was no quote specifically saying he paid the tea lady either, does that mean she's slave labour? Link to comment Share on other sites More sharing options...
Park Life 70 Posted December 1, 2008 Author Share Posted December 1, 2008 I think they're just being careful with words. Ashley had to either refinance or repay the remaining stadium loan as he triggered a change of control clause. Money outstanding on transfers may be considered as 'trade payables' and could be classed differently to long-term debt, at least in lay parlance (not sure of the exact accounting requirement). That would mean Ashley cleared the 'debt' rather than all monies owed. This isn't a major surprise- there is nothing to be gained by repaying things early if there's no discount to be gained from it. We might as well just hold onto our cash until those bills fall due. This will be part of any due diligence and won't come as some sort of shock or devestating blow to the procedure- it would have been apparent within about 30 seconds of being handed a copy of the balance sheet. It remains to be seen exactly what happened to our cash position, which IIRC was about £17m in the red at last public accounts. Quite. I'm sick of it. I want all the apologists in this thread and they will be dealt with. Link to comment Share on other sites More sharing options...
Kitman 2188 Posted December 2, 2008 Share Posted December 2, 2008 Be surprised if that 110m was anything other than an interest free loan in the first place. I expect January's transfer kitty has gone on repaying some of it too. Link to comment Share on other sites More sharing options...
NJS 3973 Posted December 2, 2008 Share Posted December 2, 2008 Quite. I'm sick of it. I want all the apologists in this thread and they will be dealt with. Parky gets tough Link to comment Share on other sites More sharing options...
Guest alex Posted December 2, 2008 Share Posted December 2, 2008 Basically, iirc, Ashley implied all the debt was paid off when he paid off that second lump sum (a few months after buying the club) as it was good PR. It now suits his agenda to say he still owes millions as it gives him an excuse for the club to be frugal in the next transfer window (and probably next summer too). I think that's the way he operates. Link to comment Share on other sites More sharing options...
NJS 3973 Posted December 2, 2008 Share Posted December 2, 2008 Basically, iirc, Ashley implied all the debt was paid off when he paid off that second lump sum (a few months after buying the club) as it was good PR. It now suits his agenda to say he still owes millions as it gives him an excuse for the club to be frugal in the next transfer window (and probably next summer too). I think that's the way he operates. Exactly - that was the implied excuse for the £20m crap and will be used for the length of his stay. At the end of his 5 year plan we might be "really" debt free but lucky to be in the premiership. Link to comment Share on other sites More sharing options...
Kitman 2188 Posted December 2, 2008 Share Posted December 2, 2008 (edited) Basically, iirc, Ashley implied all the debt was paid off when he paid off that second lump sum (a few months after buying the club) as it was good PR. It now suits his agenda to say he still owes millions as it gives him an excuse for the club to be frugal in the next transfer window (and probably next summer too). I think that's the way he operates. Exactly - that was the implied excuse for the £20m crap and will be used for the length of his stay. At the end of his 5 year plan we might be "really" debt free but lucky to be in the premiership. Dunno about debt free but he's certainly succeeded in making us point free Edited December 2, 2008 by Kitman Link to comment Share on other sites More sharing options...
Baggio 0 Posted December 2, 2008 Share Posted December 2, 2008 I think they're just being careful with words. Ashley had to either refinance or repay the remaining stadium loan as he triggered a change of control clause. Money outstanding on transfers may be considered as 'trade payables' and could be classed differently to long-term debt, at least in lay parlance (not sure of the exact accounting requirement). That would mean Ashley cleared the 'debt' rather than all monies owed. This isn't a major surprise- there is nothing to be gained by repaying things early if there's no discount to be gained from it. We might as well just hold onto our cash until those bills fall due. This will be part of any due diligence and won't come as some sort of shock or devestating blow to the procedure- it would have been apparent within about 30 seconds of being handed a copy of the balance sheet. It remains to be seen exactly what happened to our cash position, which IIRC was about £17m in the red at last public accounts. No surprise to see people ignoring this post so they can continue moaning like two old ladies over the garden fence. Link to comment Share on other sites More sharing options...
NJS 3973 Posted December 2, 2008 Share Posted December 2, 2008 No surprise to see people ignoring this post so they can continue moaning like two old ladies over the garden fence. Can you show me clear, unequivocal evidence of what the debt position is? I have read all the statements and have read posts both on here and on N-O which explain various accounting semantics and positions but it still remains unclear to most people. As ever the main criticism isn't necessarily whether he has or has not "paid off al the debt" - its the fact that the statements on the matter are either unforthcoming, confusing, contradictory or unclear. Link to comment Share on other sites More sharing options...
Monkeys Fist 38682 Posted December 2, 2008 Share Posted December 2, 2008 Dunno about debt free but he's certainly succeeded in making us point free Link to comment Share on other sites More sharing options...
Fop 1 Posted December 2, 2008 Share Posted December 2, 2008 No surprise to see people ignoring this post so they can continue moaning like two old ladies over the garden fence. He's lied. Either there's still debt or there isn't, either way he's lied about it and therefore nothing that is said can be trusted (never mind all the lying about Keegan, money available and who did what etc.) The question is how can anyone be happy about that? A further question is what sort of mug believes a liar when they already know they have lied to them? Link to comment Share on other sites More sharing options...
East Stander 0 Posted December 2, 2008 Share Posted December 2, 2008 Based on the last accounts submitted to Companies House, Ashley's holding company St James Holdings Limited will issue accounts for the year ended 30th June 2008. The previous accounts were lodged on 26th Jan 2008 so it shouldn't be too long before some sort of transparency will be available. Link to comment Share on other sites More sharing options...
Park Life 70 Posted December 2, 2008 Author Share Posted December 2, 2008 Based on the last accounts submitted to Companies House, Ashley's holding company St James Holdings Limited will issue accounts for the year ended 30th June 2008. The previous accounts were lodged on 26th Jan 2008 so it shouldn't be too long before some sort of transparency will be available. Good. Link to comment Share on other sites More sharing options...
ChezGiven 0 Posted December 2, 2008 Share Posted December 2, 2008 Based on the last accounts submitted to Companies House, Ashley's holding company St James Holdings Limited will issue accounts for the year ended 30th June 2008. The previous accounts were lodged on 26th Jan 2008 so it shouldn't be too long before some sort of transparency will be available. Good. Its a Limited (private) company therefore the reporting obligations are different than before. Profit and Loss, Balance sheet and an auditors report is about it i think. The Balance sheet should show all current and future liabilities though. However, since we already have one set of accounts from SJHL then all these should have been answered last time if they were going to be answered by the companies house report. So there ye gan. Link to comment Share on other sites More sharing options...
Park Life 70 Posted December 2, 2008 Author Share Posted December 2, 2008 (edited) The utter and unmitigated collapse of SD. 27-Feb-07 300.00 301.00 272.00 276.25 68,538,300 276.25 17-Nov-08 36.25 37.75 31.00 33.50 874,000 33.50 Currently of a basket of 6 brokers 4 are neutral and 2 have it as a sell (negative). I see it going to 25p. Edited December 2, 2008 by Park Life Link to comment Share on other sites More sharing options...
ewerk 26232 Posted December 2, 2008 Share Posted December 2, 2008 (edited) Based on the last accounts submitted to Companies House, Ashley's holding company St James Holdings Limited will issue accounts for the year ended 30th June 2008. The previous accounts were lodged on 26th Jan 2008 so it shouldn't be too long before some sort of transparency will be available. Good. Its a Limited (private) company therefore the reporting obligations are different than before. Profit and Loss, Balance sheet and an auditors report is about it i think. The Balance sheet should show all current and future liabilities though. However, since we already have one set of accounts from SJHL then all these should have been answered last time if they were going to be answered by the companies house report. So there ye gan. Aye, this is what we should get. Edited December 2, 2008 by ewerk Link to comment Share on other sites More sharing options...
manc-mag 1 Posted December 3, 2008 Share Posted December 3, 2008 I think they're just being careful with words. Ashley had to either refinance or repay the remaining stadium loan as he triggered a change of control clause. Money outstanding on transfers may be considered as 'trade payables' and could be classed differently to long-term debt, at least in lay parlance (not sure of the exact accounting requirement). That would mean Ashley cleared the 'debt' rather than all monies owed. This isn't a major surprise- there is nothing to be gained by repaying things early if there's no discount to be gained from it. We might as well just hold onto our cash until those bills fall due. This will be part of any due diligence and won't come as some sort of shock or devestating blow to the procedure- it would have been apparent within about 30 seconds of being handed a copy of the balance sheet. It remains to be seen exactly what happened to our cash position, which IIRC was about £17m in the red at last public accounts. No surprise to see people ignoring this post so they can continue moaning like two old ladies over the garden fence. Honestly Baggio, you'd swear black was white. Link to comment Share on other sites More sharing options...
LeazesMag 0 Posted December 3, 2008 Share Posted December 3, 2008 No surprise to see people ignoring this post so they can continue moaning like two old ladies over the garden fence. He's lied. Either there's still debt or there isn't, either way he's lied about it and therefore nothing that is said can be trusted (never mind all the lying about Keegan, money available and who did what etc.) The question is how can anyone be happy about that? A further question is what sort of mug believes a liar when they already know they have lied to them? Baggy ? Link to comment Share on other sites More sharing options...
Happy Face 29 Posted December 3, 2008 Share Posted December 3, 2008 A lying chairman telling the fans what they want to hear? Who'd have thunk? “Rest assured, we are working ceaselessly towards getting our new manager in place, but only when the time is right will we name the man to lead the team in the immediate future. One thing is for certain: we have a long list of candidates of the highest caliber to select from.” -Freddy Shepherd If Rafa said he wanted to buy Snoogy Doogy we would back him. -George Gillett “I've got no intention to make an offer for Manchester United.” -Malcolm Glazer "Our strategy [at Chelsea] is to bring up our own players through the academy" -Roman Abramovich etc. Link to comment Share on other sites More sharing options...
Asprilla 96 Posted December 3, 2008 Share Posted December 3, 2008 A lying chairman telling the fans what they want to hear? Who'd have thunk? "Our strategy [at Chelsea] is to bring up our own players through the academy" -Roman Abramovich etc. Of all the lies you can be told as a fan, this one is one of the best though. Fucking Ashley. Link to comment Share on other sites More sharing options...
Park Life 70 Posted December 3, 2008 Author Share Posted December 3, 2008 A lying chairman telling the fans what they want to hear? Who'd have thunk? “Rest assured, we are working ceaselessly towards getting our new manager in place, but only when the time is right will we name the man to lead the team in the immediate future. One thing is for certain: we have a long list of candidates of the highest caliber to select from.” -Freddy Shepherd If Rafa said he wanted to buy Snoogy Doogy we would back him. -George Gillett “I've got no intention to make an offer for Manchester United.” -Malcolm Glazer "Our strategy [at Chelsea] is to bring up our own players through the academy" -Roman Abramovich etc. Yeah but those are the good lies innit? Link to comment Share on other sites More sharing options...
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