Darrell King Exclusive on RFC Tax Issues

[bmck 117]

Self interest is at work all the time. Like labour want to concentrate on 'substance over style'. Why? They know their man's not big on style, so they want people talking in terms that suit them. But we're used to that with politics because it's really clear what everyone wants. With this whole saga too many people are working to agendas that are particularly hard to fathom. We don't even clearly know who is working for who. Big companies are easy - they just want profit, so it's fair to say Lloyds will be working with a uniform view of getting their money. But it's hard to know their strategy because we don't know if it suits them to take the fire sale approach or bide their time. Similarly, all the parties involved know about the confusion and will portray the other parties in the best way that suits their interest. Because there are so many unknowns all the fan can do is sit looking puggled.

 

I fear someone with big enough character to take over our club won't have limited self interest, and those with limited self interest wont be big enough characters, so we'll be minor characters in this minor epic until new people want and need our money.

[ascender 352]

Had a look at FF and David Edgar has posted a few times basically saying that from what he can ascertain, the info in King's articles today is correct.

 

What's really confusing me is our exact debt level. What is it in total as the figures being suggested for repayment seem to be way in excess of what I thought the club owned. Is this a sign that we are more tied in to the MIH side of things than we though?

[Frankie 8,665]

Had a look at FF and David Edgar has posted a few times basically saying that from what he can ascertain, the info in King's articles today is correct.

 

What's really confusing me is our exact debt level. What is it in total as the figures being suggested for repayment seem to be way in excess of what I thought the club owned. Is this a sign that we are more tied in to the MIH side of things than we though?

 

The overall jist may well be correct.

 

The actual chances of the issue costing us �£20million are less certain.

[Waltersgotstyle 307]

David Edgar has his own agenda too...

 

There is no doubt the story has some substance however I am inclined to take it with a pinch of salt as Daryll's track record of "exclusives" have been nothing short of terrible.

 

It is clear to see that he is being used as mouth piece in the hope that the fans continue pressurising the bank and do not begin to think that just because we have won the league that the situation has changed.

[Frankie 8,665]

I'm all for pressurising the club which could catalyse regime change.

 

However, the tactics being used so far are not helping all that much IMO.

 

I fail to see how not renewing our season tickets would help the situation. Sure, the price of the club may come down, but I doubt media coverage will affect such sales to the degree that it will worry the bank.

 

Better strategies are surely available.

[Bluedell 5,679]

What's really confusing me is our exact debt level. What is it in total as the figures being suggested for repayment seem to be way in excess of what I thought the club owned. Is this a sign that we are more tied in to the MIH side of things than we though?

 

The debt is what has previously been talked about....ie the �£30m. The stories about the other �£100m are total rubbish.

[Waltersgotstyle 307]

The way I see it

 

Is that right now the bank probably do not want to sell for at least another season unless a very large bid is made.

 

They will be counting on the CL money at the end of next season and hope for another profitable year, the question is though will this mean even further trimming of the squad or will they realise that they may have to speculate to accumulate?

[ascender 352]

I'm sure there's agendas at play here Frankie, but the pieces today certainly seem to be a notch or two above anything that's been written previously.

 

BD - I don't buy the 100M nonsense for one minute. But even looking at 30M, the figures just don't add up surely with some of these stories talking about very large figures of money being required by the bank asap. Why would the bank be trying to get back large repayments on what is a going concern, I thought there was a repayment plan and a business plan in place and agreed? At least that's what we get told by one side, then we get stories like this one and comments from Walter which would suggest the exact opposite.

[Frankie 8,665]

The way I see it

 

Is that right now the bank probably do not want to sell for at least another season unless a very large bid is made.

 

They will be counting on the CL money at the end of next season and hope for another profitable year, the question is though will this mean even further trimming of the squad or will they realise that they may have to speculate to accumulate?

 

At the club AGM, the chairman told us the current business plan was in place with the bank until January - including the 20 year long-term loan previously discussed.

 

I fail to see what Lloyds would have to gain from drastically changing these terms given their own good financial news this morning.

[Frankie 8,665]

I'm sure there's agendas at play here Frankie, but the pieces today certainly seem to be a notch or two above anything that's been written previously.

 

It is October all over again with the same hearsay being displayed.

 

We've all been worried about the state of the club for a long time now and any tax investigation is just one more box to be ticket in the negativity stakes.

 

Yet, 6 months down the line from the last predictions of doomsday, the tactics are still the same.

 

What are we to do here? We're all adults; tell us and we may be able to formulate some kind of plan. If Dave King is so concerned, fly back here, meet with the fan groups, meet with the fans, get player/managerial support and then take action.

 

Anything else is not enough.