joburgjon
Steve Kindon Terrier
Posts: 1,700
Member is Online
|
Post by joburgjon on Jun 2, 2021 22:23:09 GMT 1
It's not true... PH bought 75% of the shares in HTAFC using his own money....not the clubs. All that has happened is that DH has requested that HTAFC repay the majority of the loans he lent the club. As a lender he is 100% entitled to do this. PH bought the club with his own money The club is repaying the majority of the loans it has to it's major lender. PH hasn't used a penny of the clubs money to buy the club.....He's just had to use some of the revenue the club has received over the last couple of years to repay some loans the club had. So how much did Phil actually pay for the club? I'm guessing it was next to nothing. Why would anybody pay good money for a club saddled with over 50 million quid worth of debt? You say Phil paid 75% out of his own money but that could have been a nominal fee. Doesn't matter if it was 1p or £100m. Whatever he has paid is out of his own pocket and not the club's. The accusation is that PH used HTAFC money to buy HTAFC. He didn't. PH used PH's money to buy HTAFC
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Jun 2, 2021 22:28:57 GMT 1
So how much did Phil actually pay for the club? I'm guessing it was next to nothing. Why would anybody pay good money for a club saddled with over 50 million quid worth of debt? You say Phil paid 75% out of his own money but that could have been a nominal fee. Doesn't matter if it was 1p or £100m. Whatever he has paid is out of his own pocket and not the club's. The accusation is that PH used HTAFC money to buy HTAFC. He didn't. PH used PH's money to buy HTAFC Oh, c'mon. You're sat next to Dean at a game. He nudges you and says "you got a shiny penny in your pocket?" You confirm you do, and he says "Give me that, and this club is yours (minus Canalside). The one caveat is that you pay me back my loans over a very short time period using the club's cash flow (parachute payments)" Is that me using my money to buy Town - I'm talking spiritually, not literally?
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Jun 2, 2021 22:39:10 GMT 1
His 'nominal' fee was probably 7 or 8 figures and also included writing off his £2m investment in Southport as well as underwriting future investment and/or debts as DH takes his money back. Folk on here talk about it as though he paid £3.50 and a packet of smarties for the club. He may not come across as likeable as DH did, but at least he's willing to take the job on - plus look at the shit show DH has left behind. So DH gets every penny back he put in, keeps Canalside and makes ‘8 figures’ (£10m) profit from selling us on? Very nice for him. find-and-update.company-information.service.gov.uk/company/07337291/persons-with-significant-controlDean is a director of Canalside, Phil is the chairman...but significantly, Huddersfield Town Football Club has the controlling interest with more than 75% of shares and voting rights. ie Phil Hodgkinson controls Canalside, since he controls Huddersfield Town FC. Maybe also have a read of the Town accounts, they were filed today and should be available on line back end of next week.
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Jun 2, 2021 22:49:17 GMT 1
So DH gets every penny back he put in, keeps Canalside and makes ‘8 figures’ (£10m) profit from selling us on? Very nice for him. find-and-update.company-information.service.gov.uk/company/07337291/persons-with-significant-controlDean is a director of Canalside, Phil is the chairman...but significantly, Huddersfield Town Football Club has the controlling interest with more than 75% of shares and voting rights. ie Phil Hodgkinson controls Canalside, since he controls Huddersfield Town FC. Maybe also have a read of the Town accounts, they were filed today and should be available on line back end of next week. Correct me if I'm wrong, but isn't there an important distinction to be made between Canalside the building complex and Canalside the site? I seem to remember DH casually mentioning he might gift the latter back once his loans were repaid on that podcast? Happy to be corrected if I'm wrong.
|
|
|
Post by Big Ern on Jun 2, 2021 23:19:19 GMT 1
So how much did Phil actually pay for the club? I'm guessing it was next to nothing. Why would anybody pay good money for a club saddled with over 50 million quid worth of debt? You say Phil paid 75% out of his own money but that could have been a nominal fee. Doesn't matter if it was 1p or £100m. Whatever he has paid is out of his own pocket and not the club's. The accusation is that PH used HTAFC money to buy HTAFC. He didn't. PH used PH's money to buy HTAFC Course it matters, the original point was that any one of us could have done what he did. If he bought the club for a quid on the provision Dean's loans were paid off from the clubs revenue then of course we could have all done it. You are defending him paying the money out of his pocket when you damn know it was next to nothing.
|
|
|
Post by Teddington Ted on Jun 3, 2021 6:15:09 GMT 1
Correct me if I'm wrong, but isn't there an important distinction to be made between Canalside the building complex and Canalside the site? I seem to remember DH casually mentioning he might gift the latter back once his loans were repaid on that podcast? Happy to be corrected if I'm wrong. I thought Town had the leasehold on the buildings but the freehold, which we pay rent on, I’d owned by DH.
|
|
joburgjon
Steve Kindon Terrier
Posts: 1,700
Member is Online
|
Post by joburgjon on Jun 3, 2021 10:18:08 GMT 1
Doesn't matter if it was 1p or £100m. Whatever he has paid is out of his own pocket and not the club's. The accusation is that PH used HTAFC money to buy HTAFC. He didn't. PH used PH's money to buy HTAFC Course it matters, the original point was that any one of us could have done what he did. If he bought the club for a quid on the provision Dean's loans were paid off from the clubs revenue then of course we could have all done it. You are defending him paying the money out of his pocket when you damn know it was next to nothing. I would suggest that the next to nothing is a hell of a lot more money than 99.9% of Town fans have. Didn't DH say that he could buy the remaining 25% for £1.25m or something. And PH has said that he paid a significant sum for the initial 75%. He'll have paid a good few Million I recon. However, I, like everyone else, am speculating And I'm not defending anyone. all I'm saying is that PH didn't use the club's money to buy the club. He's using his own money to by the club and the club's money to pay the club's debts. DH was calling in his loans to the club regardless of the deal or who he sold to. He had options and chose to sell to PH
|
|
crux
Andy Booth Terrier
[M0:0]
Posts: 3,819
|
Post by crux on Jun 3, 2021 10:31:35 GMT 1
Correct me if I'm wrong, but isn't there an important distinction to be made between Canalside the building complex and Canalside the site? I seem to remember DH casually mentioning he might gift the latter back once his loans were repaid on that podcast? Happy to be corrected if I'm wrong. I thought Town had the leasehold on the buildings but the freehold, which we pay rent on, I’d owned by DH. That's my understanding as well. Similar to a large number of properties in the Huddersfield area that are leasehold. Our first house - a semi-detached on the top of Dalton Bank was leasehold and my late parents house that we're in the process of selling, is also leasehold. I'd be interested to know if DH charges more than the £3 a year ground rent my parents paid!
|
|
|
Post by Bassingham Terrier on Jun 3, 2021 11:41:07 GMT 1
Meanwhile, back at Derby...
|
|
|
Post by morrisraspass on Jun 3, 2021 12:09:53 GMT 1
I'm desperate for some Derby news, just to knock this fucking thread on the head
|
|
|
Post by allan 1958 (OAF-WROY)(SSLFF) on Jun 3, 2021 13:15:20 GMT 1
Doesn't matter if it was 1p or £100m. Whatever he has paid is out of his own pocket and not the club's. The accusation is that PH used HTAFC money to buy HTAFC. He didn't. PH used PH's money to buy HTAFC Oh, c'mon. You're sat next to Dean at a game. He nudges you and says "you got a shiny penny in your pocket?" You confirm you do, and he says "Give me that, and this club is yours (minus Canalside). The one caveat is that you pay me back my loans over a very short time period using the club's cash flow (parachute payments)" Is that me using my money to buy Town - I'm talking spiritually, not literally? You have to consider context and motivation neither are given any weight on here
|
|
|
Post by kennyk2 on Jun 24, 2021 6:09:36 GMT 1
Derby Disciplinary Commission£100,000 fine from the independent commission. Derby need to resubmit their accounts for 2016, 2017, 2018. If these are not to the EFL's satisfaction, Derby swap with Wycombe. However, BBC stating that the EFL are appealing the commission's findings as they want a greater punishment than the fine (i.e. points deduction).
|
|
|
Post by Christ in Shades (art) on Jun 24, 2021 6:57:32 GMT 1
Wycombe could really do with knowing which division they are playing in ASAP.
|
|
|
Post by kennyk2 on Jun 24, 2021 7:16:31 GMT 1
Look, you failed your exam, but if you give me £1 I'll allow you to take the exam again.
|
|
|
Post by softboy on Jun 24, 2021 7:17:36 GMT 1
Any Accountants out there? How do you resubmit Accounts. I assumed that once they had been Filed that was it.
|
|
|
Post by terriers2000 on Jun 24, 2021 7:20:54 GMT 1
reckon it's all sorted, come 9am it will be wycombe playing Sheffield away and derby playing morecambe away
|
|
|
Post by kennyk2 on Jun 24, 2021 7:21:36 GMT 1
reckon it's all sorted, come 9am it will be wycombe playing Sheffield away and derby playing morecambe away One can only hope.
|
|
|
Post by ilsonterrier on Jun 24, 2021 7:32:14 GMT 1
This is crazy on two counts - first of all doing this just hours before the fixtures are released and secondly, if this is the financial punishment for their years of using a different amortization, then £100,000 doesn't even touch the surface of the financial gain they have had over the last few years.
The EFL are making themselves a laughing stock over this. This should have been sorted months ago. Any further punishment is bound to be appealed leading to more uncertainty.
And, as someone else pointed out, totally unfair on Wycombe
|
|
|
Post by kennyk2 on Jun 24, 2021 7:39:02 GMT 1
This is crazy on two counts - first of all doing this just hours before the fixtures are released and secondly, if this is the financial punishment for their years of using a different amortization, then £100,000 doesn't even touch the surface of the financial gain they have had over the last few years. The EFL are making themselves a laughing stock over this. This should have been sorted months ago. Any further punishment is bound to be appealed leading to more uncertainty. And, as someone else pointed out, totally unfair on Wycombe I think that the EFL are as frustrated as everyone else here. The whole thing was under the auspices of this independent commission who seem to have been very lenient. One can only hope that Derby's accounts are a complete cluster and that the EFL know this... meaning that they will never be able to submit correct accounts for those years. Here's hoping anyway.
|
|
|
Post by garyroberts'leftfoot on Jun 24, 2021 8:15:04 GMT 1
Aren’t the resubmitted accounts likely to show they they were in breach of FFP? That’s why they did it.
The football league may have to wait for the accounts before they dish out points deductions. 10 points per season would be about right.
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Jun 24, 2021 8:50:03 GMT 1
If Wycombe get admitted to the Championship at this late stage, they should be given a 6 or 9 point head start as compensation for having to sort out retention lists and planning for League 1 which will put them at a disadvantage in Championship through no fault of their own.
|
|
|
Post by Farsley Terrier (UK product) on Jun 24, 2021 8:56:37 GMT 1
If Wycombe get admitted to the Championship at this late stage, they should be given a 6 or 9 point head start as compensation for having to sort out retention lists and planning for League 1 which will put them at a disadvantage in Championship through no fault of their own. that won't happen. the prize is remaining in the championship.
|
|
|
Post by yeti1975 on Jun 24, 2021 9:01:15 GMT 1
Hahahaha had to happen! Derby away first game
|
|
|
Post by hasta el pueblo on Jun 24, 2021 9:02:28 GMT 1
So we play Derby away first game, or do we?
|
|
|
Post by Farsley Terrier (UK product) on Jun 24, 2021 9:02:43 GMT 1
Hahahaha had to happen! Derby away first game lol. by the time we play them they could be on -30.
|
|
|
Post by VLP Fan Club on Jun 24, 2021 9:04:08 GMT 1
The EFL don’t have the bottle to swap them now, it’ll be a fine, slap on wrist and all will forgotten as usual.
|
|
|
Post by ilsonterrier on Jun 24, 2021 9:35:55 GMT 1
Wonder if this is the reason why Derby haven't signed anyone yet, and haven't released season ticket prices for next season yet? I guess the club knew this announcement was coming.
|
|
ambryboy
Jimmy Glazzard Terrier
Posts: 4,558
|
Post by ambryboy on Jun 24, 2021 9:36:10 GMT 1
Hahahaha had to happen! Derby away first game Excellent, I like Adams Park. Free parking for a car full!
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Jun 24, 2021 9:43:07 GMT 1
Wonder if this is the reason why Derby haven't signed anyone yet, and haven't released season ticket prices for next season yet? I guess the club knew this announcement was coming. They remain under a transfer embargo same as quite a few other clubs. They're only allowed to openly add to the squad when they have less than 23 contacted players (not including under 21's). (although I think they have just 21 over 21's, so they probably COULD sign someone now)
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Jun 24, 2021 9:48:02 GMT 1
The EFL don’t have the bottle to swap them now, it’ll be a fine, slap on wrist and all will forgotten as usual. What ever they decide I'm certain as I can be we will be playing derby away on the the first game of the season!
|
|