EGM SALE OF CLUB | Page 2 | Vital Football

EGM SALE OF CLUB

Hampton

Vital 1st Team Regular
#21
Well that's my opinion too. But can I ask; have you or 'King D' or others, read the sale doc and if so have you reached the same declaration as me. As I said earlier. I hope and pray that I've missed some thing. Unfortunately, due to age, my eyes and also duration of concentration aren't what they were. But mi cognitive skills are still OK - I think.
Don't think you have missed anything at all Pies- sadly 🙄
 

ZAKKY

Vital 1st Team Regular
#22
IEC is lending new owners £28.77 million as working capital, repayable in 12 month. The interest rate is 8% pa = £2,301600 p.a. and after the 12 month period at 20% = £5,754,0.00 p.a.

But why are they lending Stanley and co the money ? Do the new owners have no money to start with
Surely the league wont ratify the takeover on those terms
 

Hampton

Vital 1st Team Regular
#23
It's essentially Stanley's company (IEC) lending money to Stanley wrapped up with some - potentially convenient "investors"
The club pays interest on the loan IEC pay divi to Stanley
IEC get their money back, Stanley gets his money back, club creaks under an increasing debt level. (allegedly/ potentially) there's only one end game that i can see here.
Would be delighted to be wrong but fear the worst unfortunately 🙄
 

pies'r'us

Vital Youth Team
#27
But why are they lending Stanley and co the money ? Do the new owners have no money to start with
Surely the league wont ratify the takeover on those terms
IEC is making a loan to club which will be owned by Next Leader LP (A company) after the vote on 28th goes according to Dr Stanleys scheme.
It's all smoke and mirrors but that's the legal reality.
I have assumed that because IEC are lending 'working capital' to the club then the new owners have nowt. Otherwise they wouldn't be paying £2 million a year in interest... IMO.. but who knows?
 

ZAKKY

Vital 1st Team Regular
#28
IEC is making a loan to club which will be owned by Next Leader LP (A company) after the vote on 28th goes according to Dr Stanleys scheme.
It's all smoke and mirrors but that's the legal reality.
I have assumed that because IEC are lending 'working capital' to the club then the new owners have nowt. Otherwise they wouldn't be paying £2 million a year in interest... IMO.. but who knows?

But surely they must be lending it to Dr Stanley not the club as they already own the club they cant lend it to themselves can they?
 

pies'r'us

Vital Youth Team
#29
But why are they lending Stanley and co the money ? Do the new owners have no money to start with
Surely the league wont ratify the takeover on those terms
The reference to the EFL permission is vague, My interpatation is that they've agreed. But however, I have contacfted the EFL and am awaitng a reply. If they don't respond by my deadline then I will throw the shit at the fan. We deserve better.. "oh no you don't"... yeah, I forgot we're just fans....
 

TRUE BELIEVER

Vital Squad Member
#30
Yes it can be extended but the agreed terms state that after the 12 month period interest goes up to 20% = £5,754,0.00 pa. Alorra dosh for a company losing circa £9 million
Just a thought, but if they have stated an interest rate for the extension of the loan then I doubt they are expecting repayment on time, or it is considered a deterrent to over run.

Given that we are talking about 5.75m p.a in interest payments, and that one of the new companies directors is "experienced" in youth development, we have just acquired new academy facilities it could follow that they are hoping to develop and sell young players to fund this for the future, or not.

Stay safe
 
#31
If people can remember the bloke who own IEC did say that he was taking the club out of that structure so he could
A - Stanley Bloke doent know need to get permission from share holders to but money in - Inessence Latics will be a privatly own club like under Whelan

B Can get more investment - which this week that has been indicated, which he couldnt have done as part of IEC.

C His company IEC have lent latics money, they dont have to get it back in a year, they (he) can write the debt off.

There are a lot of remarks on here that are inaccrate, ill infomed and very reactionary and a couple (boiled dogs) racist.
 

pies'r'us

Vital Youth Team
#32
If people can remember the bloke who own IEC did say that he was taking the club out of that structure so he could
A - Stanley Bloke doent know need to get permission from share holders to but money in - Inessence Latics will be a privatly own club like under Whelan

B Can get more investment - which this week that has been indicated, which he couldnt have done as part of IEC.

C His company IEC have lent latics money, they dont have to get it back in a year, they (he) can write the debt off.

There are a lot of remarks on here that are inaccrate, ill infomed and very reactionary and a couple (boiled dogs) racist.
A: WRONG
B WRONG
C SUPPOSITION
You've obviously not been keeping up. He provided lots of reasons for wanting out of Latics. Non matched up to your reasons. In short most of your post is absolute BS and a waste of space.
 

pies'r'us

Vital Youth Team
#33
Just a thought, but if they have stated an interest rate for the extension of the loan then I doubt they are expecting repayment on time, or it is considered a deterrent to over run.

Given that we are talking about 5.75m p.a in interest payments, and that one of the new companies directors is "experienced" in youth development, we have just acquired new academy facilities it could follow that they are hoping to develop and sell young players to fund this for the future, or not.

Stay safe
1. Who says the new director is experienced in youth development at the required level?
2. Have you any business and related financing experience?
 
#34
A: WRONG
B WRONG
C SUPPOSITION
You've obviously not been keeping up. He provided lots of reasons for wanting out of Latics. Non matched up to your reasons. In short most of your post is absolute BS and a waste of space.
What are the reasons he has given?
Where did he say he wants out?
Or are you reading things he said and making your own conclusions.
Whelan always give latics loans, it was only in the end when he had no chance of ever getting it back he wrote those debts off.
 
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The Fear

A Wise Man (once sat next to him)
#35
Understandable anger and resentment during these difficult times, but I will ask members to try to be more diplomatic, not make sweeping statements about a billion people, and remember that not all members are of a similar mind when it comes to the talk. What you might deem acceptable, others will read as racist, or as a stereotype.

I don't really want to be caught in the moral middle here trying to judge what people are saying and what is and isn't offensive.

Just be mindful of what you post please. :thumbup: And also, maybe people can be mindful of the anger at the moment and have a small degree of tolerance, as long as posts don't go way over the top.

And just for your information (no need to debate this, as this is way off your topic, but it counts re what one has posted)

https://ltl-school.com/chinese-eat-dog/

Not all Chinese people eat dog. In fact, a very small percentage do, despite the stereotypes, this is something that genuinely upsets many Chinese nationals.

It is quite astounding how powerful a stereotype can be. Media is a powerful thing and influences people daily, but without knowledge of the full facts, these stereotypes can be alarmingly incorrect.


Would appreciate your help at the moment.

And most importantly hope you are all in good health at this strange time.
 

Hampton

Vital 1st Team Regular
#37
If people can remember the bloke who own IEC did say that he was taking the club out of that structure so he could
A - Stanley Bloke doent know need to get permission from share holders to but money in - Inessence Latics will be a privatly own club like under Whelan

B Can get more investment - which this week that has been indicated, which he couldnt have done as part of IEC.

C His company IEC have lent latics money, they dont have to get it back in a year, they (he) can write the debt off.

There are a lot of remarks on here that are inaccrate, ill infomed and very reactionary and a couple (boiled dogs) racist.
Racist my arse - pathetic
 

Made in Wigan

Vital Football Hero
#38
Talking of China, I’ve judged watched a very heated interview on Sky News with the Chinese Ambassador. To be fair to the interviewer he didn’t hold back and to say the Ambassador was irate would be an understatement.
 

moonay

Vital Football Hero
#39
Talking of China, I’ve judged watched a very heated interview on Sky News with the Chinese Ambassador. To be fair to the interviewer he didn’t hold back and to say the Ambassador was irate would be an understatement.
..... on the subject of?

Presumably, "why the hell didn't you tell us the truth re the virus?" etc
 

Made in Wigan

Vital Football Hero
#40
..... on the subject of?

Presumably, "why the hell didn't you tell us the truth re the virus?" etc
Yeah that, cyber attacks on virus research, whether they’d share a vaccine (no answer on that), why they jail journalists, why do these outbreaks (covid/sars) always start in China, what is being done to stop these outbreaks, what happened to the whistleblowers etc. Don’t think I’ve ever seen an Ambassador get so worked up before, diplomatic he wasn’t.