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Post by Deleted on Apr 19, 2021 9:25:05 GMT 1
Yep. Interesting piece on the price of football pod about it. As long as Burnley are in the prem, their model will probably work paying a few million every year on interest payments. But if they go down...... It hardly sounds like any thing to worry about - they've gone £90m worse-off, from a starting point of £40m in the bank, so its "only" a £50m debt. They *are* in the EPL so should easily be able to repay a chunk of that on an ongoing basis, ahead of any eventual relegation, which would likely see them with less debt to repay than Town (and probably over a longer period (although we don't know the full details of what has been rescheduled)). |
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crux
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Post by crux on Apr 19, 2021 9:52:01 GMT 1
Yep. Interesting piece on the price of football pod about it. As long as Burnley are in the prem, their model will probably work paying a few million every year on interest payments. But if they go down...... It hardly sounds like any thing to worry about - they've gone £90m worse-off, from a starting point of £40m in the bank, so its "only" a £50m debt. They *are* in the EPL so should easily be able to repay a chunk of that on an ongoing basis, ahead of any eventual relegation, which would likely see them with less debt to repay than Town (and probably over a longer period (although we don't know the full details of what has been rescheduled)). But they have an interest rate of close to 10%, so almost £5m or £9m whichever debt figure you want to take, to be paid off in interest every year before you start paying off the actual debt. |
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Post by Deleted on Apr 19, 2021 10:01:40 GMT 1
It hardly sounds like any thing to worry about - they've gone £90m worse-off, from a starting point of £40m in the bank, so its "only" a £50m debt. They *are* in the EPL so should easily be able to repay a chunk of that on an ongoing basis, ahead of any eventual relegation, which would likely see them with less debt to repay than Town (and probably over a longer period (although we don't know the full details of what has been rescheduled)). But they have an interest rate of close to 10%, so almost £5m or £9m whichever debt figure you want to take, to be paid off in interest every year before you start paying off the actual debt. Thats your assumption on % based on speculation in the press - they've not announced any such figure have they? |
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crux
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Post by crux on Apr 19, 2021 10:08:44 GMT 1
But they have an interest rate of close to 10%, so almost £5m or £9m whichever debt figure you want to take, to be paid off in interest every year before you start paying off the actual debt. Thats your assumption on % based on speculation in the press - they've not announced any such figure have they? There was an article in either the Times or Athletic giving the details on the lender for both Burnley and a loan the Southampton have taken out and the interest rate quoted was around 8.9%. Apparently it's the 'going rate' for these sort of loans - although I suspect after the overnight announcement from the 'not really Big 6' these sort of loans might dry up at the moment. |
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Post by Deleted on Apr 19, 2021 10:34:15 GMT 1
Thats your assumption on % based on speculation in the press - they've not announced any such figure have they? There was an article in either the Times or Athletic giving the details on the lender for both Burnley and a loan the Southampton have taken out and the interest rate quoted was around 8.9%. Apparently it's the 'going rate' for these sort of loans - although I suspect after the overnight announcement from the 'not really Big 6' these sort of loans might dry up at the moment. And the Burnley chairman stated The Athletic article inaccurately portrayed the loan in both its size and terms. (its pretty obvious they've used a figure which is £50m+ MORE than the reality!) Anyway - the point is, I don't think WE need to be worried about Burnley sustainability, and I'm sure Burnley and their fans aren't!! |
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Post by hueypnewton on Apr 22, 2021 10:18:19 GMT 1
Maybe this has been discussed already, but when a bunch of Championship clubs were placed under a transfer embargo due to the late filing of accounts, it was suggested Town moved quickly and filed. When will these accounts become public or have they already?
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Post by tockyterrier on Apr 22, 2021 13:28:45 GMT 1
Maybe this has been discussed already, but when a bunch of Championship clubs were placed under a transfer embargo due to the late filing of accounts, it was suggested Town moved quickly and filed. When will these accounts become public or have they already? I dont think they did. It's a bit of a none story because the three month delay will still run out before the next transfer window opens so any ban was immaterial. |
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Post by Ginger Ogre on Apr 22, 2021 15:13:42 GMT 1
The embargo was only because the EFL didn't update its own rules to fall in line with HMRC rules.
Due to COVID the deadline to submit accounts was extended, but EFL rules still stated they had to be in by a certain date and they didn't change it to match the date set by HMRC.
Interestingly EFL took advantage of the extension too and haven't (or at least hadn't last time I looked) submitted thier accounts yet either.
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Post by Colin the Caterpillar on Apr 22, 2021 16:05:01 GMT 1
The embargo was only because the EFL didn't update its own rules to fall in line with HMRC rules. Due to COVID the deadline to submit accounts was extended, but EFL rules still stated they had to be in by a certain date and they didn't change it to match the date set by HMRC. Interestingly EFL took advantage of the extension too and haven't (or at least hadn't last time I looked) submitted thier accounts yet either. Nowt to do with HMRC. Companies House falls under BEIS. |
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Post by Colin the Caterpillar on Apr 22, 2021 16:06:43 GMT 1
The embargo was only because the EFL didn't update its own rules to fall in line with HMRC rules. Due to COVID the deadline to submit accounts was extended, but EFL rules still stated they had to be in by a certain date and they didn't change it to match the date set by HMRC. Interestingly EFL took advantage of the extension too and haven't (or at least hadn't last time I looked) submitted thier accounts yet either. Nowt to do with HMRC. Companies House falls under BEIS. I’d like to nominate my previous post as the forum’s most boring post of the year. |
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crux
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Post by crux on Apr 22, 2021 16:12:16 GMT 1
The embargo was only because the EFL didn't update its own rules to fall in line with HMRC rules. Due to COVID the deadline to submit accounts was extended, but EFL rules still stated they had to be in by a certain date and they didn't change it to match the date set by HMRC. Interestingly EFL took advantage of the extension too and haven't (or at least hadn't last time I looked) submitted thier accounts yet either. Isn't the EFL date set at 31st March to enable the FFP rules to be enforced properly in the 'current' season though. Clubs taking advantage of the government's covid extension could just have escaped a points deduction this season. |
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Post by Ginger Ogre on Apr 22, 2021 21:56:14 GMT 1
The embargo was only because the EFL didn't update its own rules to fall in line with HMRC rules. Due to COVID the deadline to submit accounts was extended, but EFL rules still stated they had to be in by a certain date and they didn't change it to match the date set by HMRC. Interestingly EFL took advantage of the extension too and haven't (or at least hadn't last time I looked) submitted thier accounts yet either. Nowt to do with HMRC. Companies House falls under BEIS. I did not know that, thanks for the information. |
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Post by hueypnewton on Apr 23, 2021 5:13:17 GMT 1
So when will the latest HTAFC accounts be publicly available? Anyone know?
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Post by Colin the Caterpillar on Apr 23, 2021 8:31:59 GMT 1
So when will the latest HTAFC accounts be publicly available? Anyone know? If they have taken the 3-month extension they will need to file by 30 June |
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Post by Deleted on Apr 23, 2021 9:08:26 GMT 1
So when will the latest HTAFC accounts be publicly available? Anyone know? If they have taken the 3-month extension they will need to file by 30 June That means fuck all. Think Wednesday were 6 months late filing their latest books. Better to be hit with a £3000 fine than reveal information that might put off 1000 people renewing. |
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Post by Up the Duff. on Apr 23, 2021 9:31:39 GMT 1
Nowt to do with HMRC. Companies House falls under BEIS. I did not know that, thanks for the information. [/q9uote] Are you the Pozza who does the podcast but admits at the start of every podcast that you didn't actually watch the game on sky or ifollow ? Nothing personal against you but I can't understand how a podcast can have people on who don't even watch the games. |
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Post by Ginger Ogre on Apr 23, 2021 14:21:51 GMT 1
I did not know that, thanks for the information. Are you the Pozza who does the podcast but admits at the start of every podcast that you didn't actually watch the game on sky or ifollow ? Nothing personal against you but I can't understand how a podcast can have people on who don't even watch the games. Yeah thats is me mate, and no offence taken. I generally watch the games, but miss some as I run a junior football club so am out on some Saturdays so can't watch live. I generally watch the games back or the highlights to get a good understanding of how the games went. Its a bit of a running joke on their now that I miss games so the others play on it a bit now which is why its mentioned so much. |
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Post by softboy on Apr 23, 2021 20:02:20 GMT 1
I beleve the consensus is that PH should be investing to take the club forward and perhaps make us a force in the Championship. He is a relatively high profile busiiness man so
I am sure he could borrow say 10m at say 4/5%. All he need to do is then lend the same 10m to the club at say 10% plus hiigh management fees. The club being responsible for repayment. That way the club would have 10m to invest on players ets, PH would be happy as he is making a substantial
amount on interest charges and fees and we would be happy as the club will have a significant investment in the club.
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Post by detox on Apr 23, 2021 20:18:01 GMT 1
I beleve the consensus is that PH should be investing to take the club forward and perhaps make us a force in the Championship. He is a relatively high profile busiiness man so I am sure he could borrow say 10m at say 4/5%. All he need to do is then lend the same 10m to the club at say 10% plus hiigh management fees. The club being responsible for repayment. That way the club would have 10m to invest on players ets, PH would be happy as he is making a substantial amount on interest charges and fees and we would be happy as the club will have a significant investment in the club. Nooooooo...We could have had the yanks in if we are happy to pay 10% interest. DH didn't charge the club interest, and to me it comes with the job...if you want to make money out of it all, make sure you buy the right players and employ the right manager... |
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aoftboy
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Post by aoftboy on Apr 23, 2021 20:36:24 GMT 1
PH has decided that this year is all about reducing costs and making the club financially sustainable long term. He has gambled (probably too strong a word) that modest signings will keep us up and at the moment he seems on track. Look at Wednesday, Derby, Birmingham who are all up shit creak financially. We have to live within our income, whatever this is and I for one believe at the moment financially sustainability is number one.
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Post by Walton-on-the-Hill Terrier on Apr 23, 2021 20:41:10 GMT 1
PH has decided that this year is all about reducing costs and making the club financially sustainable long term. He has gambled (probably too strong a word) that modest signings will keep us up and at the moment he seems on track. Look at Wednesday, Derby, Birmingham who are all up shit creak financially. We have to live within our income, whatever this is and I for one believe at the moment financially sustainability is number one. Weird..... softboy won’t agree. Twin brother? Same DOB. |
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Post by Drew Peacock on Apr 28, 2021 18:16:55 GMT 1
Heard a rumour that PH has fully serviced the debt to Hoyle, no idea how accurate this is, has anyone else heard the same?
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Post by Million Dollar Babies on Apr 28, 2021 20:40:02 GMT 1
Heard a rumour that PH has fully serviced the debt to Hoyle, no idea how accurate this is, has anyone else heard the same? I heard Hoyle has wrote it all off after reading the "is it worth it" thread |
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Post by Deleted on Apr 28, 2021 21:47:39 GMT 1
Heard similar...in return Hoyle gets Ward and Holmes as man-servants fior the next 3 years.
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crux
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Post by crux on Apr 28, 2021 21:48:39 GMT 1
Heard similar...in return Hoyle gets Ward and Holmes as man-servants fior the next 3 years. Best transfer deal in the last 4 seasons that 😂 |
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Post by Mastercracker on Apr 29, 2021 11:20:43 GMT 1
Heard similar...in return Hoyle gets Ward and Holmes as man-servants fior the next 3 years. Ward would pull his hamstring just delivering the morning Foie gras. |
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Post by Deleted on Apr 29, 2021 12:04:35 GMT 1
Heard similar...in return Hoyle gets Ward and Holmes as man-servants fior the next 3 years. Ward would pull his hamstring just delivering the morning Foie gras. With the thought of Ward being Hoyles man servant, I tried to stop reading at 'Ward would pull his...', as I was afraid where it was going. 😂 |
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Post by detox on Apr 29, 2021 13:07:28 GMT 1
Heard a rumour that PH has fully serviced the debt to Hoyle, no idea how accurate this is, has anyone else heard the same? what does fully serviced mean ? sorry to be ignorant... |
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Post by Teddington Ted on Apr 29, 2021 13:56:45 GMT 1
Heard a rumour that PH has fully serviced the debt to Hoyle, no idea how accurate this is, has anyone else heard the same? what does fully serviced mean ? sorry to be ignorant... I got ‘fully serviced’ on a jambo to Amsterdam once. What that poor woman went through was pretty much what Hoyle has done to big Phil since grooming him to take over. I can only think that is what the phrase means. Edit: I didn’t really. |
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Post by detox on Apr 29, 2021 14:51:47 GMT 1
what does fully serviced mean ? sorry to be ignorant... I got ‘fully serviced’ on a jambo to Amsterdam once. What that poor woman went through was pretty much what Hoyle has done to big Phil since grooming him to take over. I can only think that is what the phrase means. Edit: I didn’t really. I should have known better than to ask I guess... Seriously though, the club has the debt on it's books, and always has. Whether dean ever needed these debts 'securing' against the assets must have been irrelevent seeing as he owned it all anyway..So now Phil owns (75%) of the club , and the assets..and the club has to repay Dean...so does Phil have to 'guarantee' those repayments from his own funds in case the club can't pay..for whatever reason... I just don't get the relevence of the 'Phil has fully serviced' these...and why was it necessary ? |
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