EGM SALE OF CLUB | Page 4 | Vital Football

EGM SALE OF CLUB

king_dezeeuw06

Vital Football Hero
#61
I'm at a loss as why people are giving a thumbs up when you haven't provided convincing answers.
I asked:
Q1. Who says the director is experiences... You said "I don't know....."
THE ANSWER: Dr Stanley. Well we all know by now that he knows sweet FA about football. So when he starts blabing about footy stuff.... And now IEC is only worth £40m, He's managed to oversee a 90% loss of value of the company. In other words he knows sweet FA about running hotels etc. That's the opionion of the HK EX market. OK?

Q2. Have you got business experience etc;
I asked the simple queston because of your comments and financial analysis. It led me to think you had none. ie our survival will depend upon developing players and selling them on. Now; where have I heard that fantasy remedy before?

So leaning on your expertise; provide us your projection on the 'loan agreement's' financial ramifications upon the club - short and long term and in view of the annual losses and the existing debt of £23.4m to IEC who want it back...
Pies you clearly have a good understanding of these type of things and it is a welcome perspective but you seem to be a bit tetchy when responding to people on these matters.

It's a complicated topic and those who may not share your level of understanding are just trying to get their head around the documents - it's understandable if they misinterpreted something and for you to correct them if they are wrong but you can do it without having to have a go at them.
 

pies'r'us

Vital Youth Team
#62
Pies you clearly have a good understanding of these type of things and it is a welcome perspective but you seem to be a bit tetchy when responding to people on these matters.

It's a complicated topic and those who may not share your level of understanding are just trying to get their head around the documents - it's understandable if they misinterpreted something and for you to correct them if they are wrong but you can do it without having to have a go at them.
Pies you clearly have a good understanding of these type of things and it is a welcome perspective but you seem to be a bit tetchy when responding to people on these matters.

It's a complicated topic and those who may not share your level of understanding are just trying to get their head around the documents - it's understandable if they misinterpreted something and for you to correct them if they are wrong but you can do it without having to have a go at them.
What do you mean 'have a go at them'?
 

TRUE BELIEVER

Vital Squad Member
#63
I'm at a loss as why people are giving a thumbs up when you haven't provided convincing answers.
I asked:
Q1. Who says the director is experiences... You said "I don't know....."
THE ANSWER: Dr Stanley. Well we all know by now that he knows sweet FA about football. So when he starts blabing about footy stuff.... And now IEC is only worth £40m, He's managed to oversee a 90% loss of value of the company. In other words he knows sweet FA about running hotels etc. That's the opionion of the HK EX market. OK?

Q2. Have you got business experience etc;
I asked the simple queston because of your comments and financial analysis. It led me to think you had none. ie our survival will depend upon developing players and selling them on. Now; where have I heard that fantasy remedy before?

So leaning on your expertise; provide us your projection on the 'loan agreement's' financial ramifications upon the club - short and long term and in view of the annual losses and the existing debt of £23.4m to IEC who want it back...

I really do not understand why you are getting so tetchy about my post. It is merely my summation of the situation and like yours is an opinion and not fact.

As far as the experience level I talked about it was not Dr Stanleys but one of his co directors who has apparently had some experience in youth development in Asian football. A fact that I queried in my initial post.

As to my business experience, I couldn't give a flying f**k as to what you think about it.

In your post you mention a figure of approx. 5.5million being the interest if the club decide to extend the loan period, I would say that in the scheme of things this is not a big deal in football terms given the amount of money in the game under normal circumstances, I concede that at present it poses a few concerns, however the point I was making is that if the club are concentrating on a policy of youth development and sale then this could be accommodated within that strategy.

It could be quite feasible to develop players, Gelhardt for instance, to pay for the loan interest whilst also helping to pay some of the day to day running expenses. It clearly depends on finding and producing the right youth prospects. It is a risk, I again concede, but it is not beyond the realms of possibility as other clubs have shown.

It is also possible that having proven the business plan that they then may be able to restructure the loan on more favourable terms to proceed with the strategy. Again I would say that this is feasible as given the state of the world economies interest rates are certain to fall as central banks reduce their lending rates to encourage growth in their respective economies.

Unlike yourself I am offering this as speculation as I don't possess your certainty but I am open minded enough to take other peoples views into account before being so dismissal of them and postulating that I am the only person who knows anything about the subject.
 

TRUE BELIEVER

Vital Squad Member
#66
You reply to TB and others can be pretty condesending. TB didn't say anything to earn that and your points could've been made without that.
Thanks for springing to my defence KDZ it is appreciated, however I have been long enough posting on this site to expect some negative posts in relation to my own.

What I would say is that aggressive responses usually lead to arguments that get out of hand and eventually land one or other of the posters in trouble with the moderator and a ban usually follows. I would caution "Pies" to temper his responses and try to be more respectful of other posters who may not agree with his views if he expects other posters to take him seriously.

It would be a shame to see a poster with knowledge such as he seems to have about financial matters removed from the site due to being over aggressive with fellow fans.
 

Zeb2

Vital Reserves Team
#67
I don’t pretend to understand the financial issues (Jiggery pokery?) out in Hong Kong, but I do think an overall reliance on developing and selling young players as the basis for the future of the club is very risky.

Not just the uncertainty of any successful development. Gelhardt appears so far to be the only one potentially interesting any Premiership clubs and players going on to Scotland, Ireland or L2 as they may do will bring in little or nothing.

The other looming problem is whether the transfer market and the prices involved will be severely depressed in the aftermath of the current issues as clubs at all levels appear to have lost substantial amounts of money with future revenues also at risk ?
 

C_Latic

Vital Squad Member
#72
Wonder if what is going on in Hong Kong has anything to do with this change in ownership? It seems Beijing is looking to take Hong Kong under communist control.
Be bad news for us if that happens. It's very hard now to get money out of China due to government laws that I suspect don't apply (for now anyway) in Hong Kong.
 

OnLoanfromEnfield

Vital Squad Member
#76
100% vote ... actually better than a CCP vote.
https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0529/2020052901522.pdf

In accordance with the Sale and Purchase Agreement, upon Completion, the Company (as the lender) and the Club (as the borrower) entered into the Loan Agreement in an aggregate principal amount of GBP24.36 million (equivalent to approximately HK$232.08 million),and the Deed of Guarantee was also entered into by the Purchaser in favour of the Company along with the Loan Agreement. Details and background of the Loan Agreement and Deed of Guarantee are set out in the Circular. Immediately subsequent to the entering into of the Loan Agreement, the Pre-Existing Loan in the amount GBP24.36 million (equivalent to approximately HK$232.08 million) has been repaid to the Company, and as a result, the Club is no longer indebted to the Company.
 

ZAKKY

Vital 1st Team Regular
#78
So that's as clear as mud. Perhaps as there will be no fans in the stadium they probably think they dont need to say owt
 

Hampton

Vital 1st Team Regular
#79
Seems it went through,100% For with 0% against!Don't really know what it all amounts to if i'm honest!
It means a load of faceless individuals, financiers and lawyers earn a big wedge by manipulating the ownership of our club which get saddled with more debt and an exorbitant interest rate ratchet.
Not any kind of good news IMO