TheWeeBlueDevil 0 Posted July 12, 2012 Share Posted July 12, 2012 From the minutes taken at the meeting 7 days ago 'There is currently £3 million in the bank account and an expected £2.6 million coming in over the next two weeks. This further investment is guaranteed and they have legal documents to prove so.' 0 Quote Link to post Share on other sites More sharing options...
kuznetsov 0 Posted July 12, 2012 Share Posted July 12, 2012 The money owed to HMRC for Whytes non payment of PAYE/NI for a start. The 20 odd mill owed to ticketus possibly? The potential EBT debts. You know everything the whole of Scotland has been talking about for the last 4 months. £14m approx. £24m approx. less than 40 million it is hardly massive debts even if you add on the smaller debts to all the other creditors it is nowhere near the 130 odd million tims like to talk about. we could potentially win the ebt case and owe nothing. see how easy that is, key word potential. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted July 12, 2012 Share Posted July 12, 2012 55 million was the debt figure excluding ebt case IIRC. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,461 Posted July 12, 2012 Share Posted July 12, 2012 55 million was the debt figure excluding ebt case IIRC. Indeed. The 55m were the status quo when the creditors report was made, without any EBT money, as it has not been established. We should probably not fool ourselves here. This EBT stuff would probably have resulted in ongoing legal debates and probably had hung above us for years. The SFA/SPL cling to this and try to do us with regard to double contracts as we speak, so we have that front to fight already. If anything was good from the current state of afffairs, it is the shedding of all previous debts. If di Stefano and his Qatari backers want to to take this liability on, fair enough. We lack/-ed a certain amount of cash in the bank to do so. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted July 12, 2012 Share Posted July 12, 2012 Indeed. The 55m were the status quo when the creditors report was made, without any EBT money, as it has not been established. We should probably not fool ourselves here. This EBT stuff would probably have resulted in ongoing legal debates and probably had hung above us for years. The SFA/SPL cling to this and try to do us with regard to double contracts as we speak, so we have that front to fight already. If anything was good from the current state of afffairs, it is the shedding of all previous debts. If di Stefano and his Qatari backers want to to take this liability on, fair enough. We lack/-ed a certain amount of cash in the bank to do so. net debt though was only 14. 1 year ago. this whole sorry episode is entirely avoidable. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,417 Posted July 12, 2012 Share Posted July 12, 2012 If Di Stefano can't even get the Sevco company name corrct then it shows how serious he is taking it. 0 Quote Link to post Share on other sites More sharing options...
Guest Bluenose80 Posted July 12, 2012 Share Posted July 12, 2012 £14m approx.£24m approx. less than 40 million it is hardly massive debts even if you add on the smaller debts to all the other creditors it is nowhere near the 130 odd million tims like to talk about. we could potentially win the ebt case and owe nothing. see how easy that is, key word potential. Ok perhaps in football terms £40m is not massive. However my original point was that he is looking to buy a company shell with at least £40m pounds worth of debt hanging over it. He then needs to build a stadium as he can't use Ibrox, needs to get somewhere for players to train as can't use Murray Park, needs to sign full squad of players, coaching staff etc. He would probably need close to £100m just to get it off the ground. Final point the last club he was involved with he left in administration (Dundee) so he would probably fail the fit and proper persons test anyway (FA are more competent than the SFA so it would be done beforehand as it should be). Time will tell how it pans out for him. 0 Quote Link to post Share on other sites More sharing options...
Tannochsidebear 2,352 Posted July 12, 2012 Share Posted July 12, 2012 net debt though was only 14. 1 year ago. this whole sorry episode is entirely avoidable. Agree with your sentiments, but the £14M was net bank debt, and didnt include trade creditors or football creditors or debentures, which are all included in the £55M figure. The only big difference between the £14M and the £55M was the ticketus money, everything else was much the same I'd imagine. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted July 12, 2012 Share Posted July 12, 2012 Agree with your sentiments, but the £14M was net bank debt, and didnt include trade creditors or football creditors or debentures, which are all included in the £55M figure. The only big difference between the £14M and the £55M was the ticketus money, everything else was much the same I'd imagine. it didn't include 20 million to hmrc. nor did it include 8 million cash at bank or 18 million to lloyds. 0 Quote Link to post Share on other sites More sharing options...
Royal_Blue_Legend 1 Posted July 12, 2012 Share Posted July 12, 2012 I think Stefano is a tiny bit nutty however, if his rantings/funny plans can insitgate a quicker investigation into the clubs fraudulent takeover, I'll be thanking him perosnally 0 Quote Link to post Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.