E
exiled tic
Guest
Just seen Mr Nixon saying the club has new investors coming on board with Dr Choi, could be a crucial moment for our future! He says announcement soon!
Seems liike the last lot bought in without having a scooby so who knowsWithout knowledge of the backer it's difficult to comment too much - but if part of our funders wanted out and we've managed to get someone else in that is great news. Interesting that Nixon says the new investors will work with Choi rather than buy him out - this is clearly what the previous changes were leading to.
To buy into a football club under normal circumstances is a risk, so to do it under the current econimic climate would suggest the people must have the finances to feel relatively secure to make such an investment. I'm not suggesting that they will be splashing the cash big - but with all of the clubs outside the Prem about to feel the heat if we can have someone who can just keep us ticking over and underwriting what is likely to be a 15-20m loss without player sales that is a win. Surely they wouldn't be buying in without looking at the books so they must know the financial realities and be ok with it.
The question that needs to be asked is why?
Looks for any links to the ccp, offshore companies and Macau ....
As a matter of interest, if there were links to the ccp ... would anyone have any qualms over their involvement in the club (All hyperthetical of course) ?
From a purely financial perspective I would say that's all fair enough - in a normal business setting Chairman and General Manager - Mr Royle and Mr Cook would have been terminated without delay !Quite a few documents on the IEC website.
https://www.ientcorp.com/attachment/pdf/1588900741VG3to.pdf
This one caught my eye.
Open and scroll down to the following Pages ... 27 & 28
Ouch!
"During the Acquisition, the Company has developed a business plan in respect of increasing profitability of the Club and stadium operations through investing and developing the football fans’ and supporters’ sensation and experience at the academy, however, the performance of the Club is under performance despite significant amount of working capital has been spent by the Group.
As at the Latest Practicable Date, the Club ranks 20th in the Football League Championship out of 24 teams and is unlikely to be promoted to the Premier League in the next season which is out of the Board’s expectation.
The Board believed that the under performance of the Club had a significant negative impact on the revenue and the profitability of the Club, which is the key factor for the Club’s failure to meet the expectation of the Board. Also, the Company is aware that the performance of the Club is not necessarily in line with the amount of capital contributed to the Club, as the performance of the Club primarily relies on the on-field performance of the manager and the players, and that of other contestants in the league, and to a certain extent, luck and unpredictable factors on the field,which are always beyond the Company’s control"
Nevertheless, the increasing operating cost of the Club did not improve the ranking of the Club in the season 2019–2020 so far. In addition, other risks affecting the profitability of the Club are from, among others, central distribution, sponsorship and ticketing. Although the solidarity payment from the Premier League and EFL central distributions received by the Club have increased during the period, other sources of revenue of the Club have not met up to the incremental expectation of the Board, including but not limited to (i) the ticket sales, (ii) cup competition broadcasting and prize money; and (iii) sponsorship, commercial and hospitality.As such, the Board is unsatisfied with the financial performance of the Disposal Group.
Ok, so long as we do not have to play in red with a big yellow star on the front of the shirt.With the way the CCP are if they are based in mainland China there is a good chance there could connections at some level if you were able to dig in and find them. But one thing worth considering is that the CCP were heavily pushing investment in western sports teams a while ago but they changed the rules on money going out of the country at one point which was what nearly caused Villa huge financial problems and saw them seek new investors about 2 years ago. So i'm not sure what the state of play is now but if those rules are still in place in might rule out CCP involved companies.
Without trying to get into the politics the CCP are obviously terrible so ideally I wouldn't want our country doing business with them at all. I wasn't pleased we were doing it before hand so after their part in this crisis I don't think we should go on like nothing has happened. But if as a country we decide to continue to do business with China as before i'm not going to be outraged or upset - it is what it is and you just hope that a less than ideal situation can work out to our advantage under the circumstances.
You missed out Matthew ElliotCould be worse. In eyes of some Dyson, Murdoch or the Barclay Brothers could take us over - now that would cause some folks piss to be boiled.