Another first for the pork | Page 3 | Vital Football

Another first for the pork

Mahatmafoot said:
But according to the Piggies Chancer is a multi billionaire, so surely he can take a wedge out of his back pocket and pay them their arears.
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nope it has to be generated by the club its self not the owners pocket ,FFP, THATS WHY their in the shit cause the club generates fuck all
 
Mahatmafoot said:
But according to the Piggies Chancer is a multi billionaire, so surely he can take a wedge out of his back pocket and pay them their arears.
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According to my calculations he was given around 50 million shares in TUG, over the last 10 years this would have given him between £200,000 and £800,000 per year in dividends. If you leave school and someone pays you an average of £500k per year. If you then work, whatever you earn, is going to be a pittance compared to this, and therefore you don't, unless it is a fun job. So he choses to own a company selling water jetskies which went bust, either because he got bored, as it wasn't as much fun as he expected or more likely is that he has no business ability or experience. Then someone suggested that owning an English football club would be fun.

The big question is where did he get the money from? £500k per year makes him a rich man, but no where rich enough to own a football team, he seems to own £66M in shares, he has loaned the club another £64M. He has brought the ground for £60M which in effect is another loan. All the other companies D-Taxis, Elev8 Drinks, Elev8 Clothing, Sheffield 2,3,4 &5 all are running at a loss whose purpose seems to be to hide more losses at the club. So easy over £200m.

Clearly the money isn't his, but all the money appear to be in his name, normally if he was the front of a secret consortium the ultimate owner would be a company registered in the BVI or similar place where it is almost impossible to find out the names of the owners. Someone must be very naïve to give him £200M without any control over it.
 
Mansfield Blade said:
According to my calculations he was given around 50 million shares in TUG, over the last 10 years this would have given him between £200,000 and £800,000 per year in dividends. If you leave school and someone pays you an average of £500k per year. If you then work, whatever you earn, is going to be a pittance compared to this, and therefore you don't, unless it is a fun job. So he choses to own a company selling water jetskies which went bust, either because he got bored, as it wasn't as much fun as he expected or more likely is that he has no business ability or experience. Then someone suggested that owning an English football club would be fun.

The big question is where did he get the money from? £500k per year makes him a rich man, but no where rich enough to own a football team, he seems to own £66M in shares, he has loaned the club another £64M. He has brought the ground for £60M which in effect is another loan. All the other companies D-Taxis, Elev8 Drinks, Elev8 Clothing, Sheffield 2,3,4 &5 all are running at a loss whose purpose seems to be to hide more losses at the club. So easy over £200m.

Clearly the money isn't his, but all the money appear to be in his name, normally if he was the front of a secret consortium the ultimate owner would be a company registered in the BVI or similar place where it is almost impossible to find out the names of the owners. Someone must be very naïve to give him £200M without any control over it.
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Daddy?
 
seanbeanstattoo said:
Daddy?
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Would you give your idiot son £200M, knowing first hand how bad he is at business? His fathers total worth is only around £500M according to Forbes?

I was convinced at first that it was a money laundering operation with all dummy companies like D-Taxis etc. and a structure to stop the authorities regulating it Chansiri brought Wednesday, but then transferred ownership to Sheffield Wednesday Holdings based in and regulated by Hong Kong but this company ultimate owner is Sheffield 2, based here and owned 100% by Chansiri,

The problem with this theory is that money goes in ok, but no clean money comes out
 
Mansfield Blade said:
Would you give your idiot son £200M, knowing first hand how bad he is at business? His fathers total worth is only around £500M according to Forbes?

I was convinced at first that it was a money laundering operation with all dummy companies like D-Taxis etc. and a structure to stop the authorities regulating it Chansiri brought Wednesday, but then transferred ownership to Sheffield Wednesday Holdings based in and regulated by Hong Kong but this company ultimate owner is Sheffield 2, based here and owned 100% by Chansiri,

The problem with this theory is that money goes in ok, but no clean money comes out
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It's distinctly possible the pigs can be the next Bury. God I hope so.
 
The word is that he sold the ground to himself but to get cash back from the loan sharks who almost did for Watford. £2.5m a year for 30 years. First payment in September. Anyone think he has a chance of defaulting the first payment..?
 
FatherKnowsBest said:
The word is that he sold the ground to himself but to get cash back from the loan sharks who almost did for Watford. £2.5m a year for 30 years. First payment in September. Anyone think he has a chance of defaulting the first payment..?
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Slightly confused, he did buy the stadium from himself, using a company he invented called Sheffield 3, and is charging the club £2.5M per year for the next 30 years, Sheffield 3 took out a loan with "the loan sharks who almost did for Watford" using the stadium as security, this loan has to be paid in full before 7 business days after the 30th September 2021 otherwise Sheffield 3 loses the stadium. The sum quoted is £6,438,205 I imagine this is the original loan of £5M and £1,438,205 interest. I am surprised that he risked so much for such a small loan.
 
twirlo70 said:
nope it has to be generated by the club its self not the owners pocket ,FFP, THATS WHY their in the shit cause the club generates fuck all
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It just gets more and more hilarious

Clubs at this stage would sell a few players and raise £12 million,

It would be funny enough if they could sell ten players and then have to use the money received to pay the outstanding wages to the players they'd just sold.

But their players are on the verge of exercising their right to give two weeks notice for breach of contract.

If this right is exercised they are fucked, they cannot sell, they own no players and they'd still owe the wages.

How massive they think they are because they pretend to be massive.

Big difference between pretending to be massive and actually having the wherewithal to be massive
 
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