Club Finances - new charge registered against club (Macquaire Bank Limited)

[Paninistickers]

1 hour ago, hackneyfox said:

Wouldn't you assume it's for January transfers?

Why bother borrowing and paying back the interest on an expansion that isn't going to happen in the immediate future.

Just for running costs. Basically an overdraft in reverse. 

[Chocolate Teapot]

1 hour ago, hackneyfox said:

Wouldn't you assume it's for January transfers?

Why bother borrowing and paying back the interest on an expansion that isn't going to happen in the immediate future.

Stadium is possibly right. However its odd its been taken out in jan.

 

For context, the last one was August, we signed castagne 3 weeks later.

[mbrambini]

What’s the value of the loan ? 

[Babylon]

Southampton just made a £62m loss because of COVID. And that’s not even including the losses from this season. 
 

I think people need to prepare themselves for the fact we are going to have huge losses over our next two sets of accounts and we have bills to pay.

[Strokes]

10 minutes ago, Babylon said:

Southampton just made a £62m loss because of COVID. And that’s not even including the losses from this season. 
 

I think people need to prepare themselves for the fact we are going to have huge losses over our next two sets of accounts and we have bills to pay.

I’m having trouble understanding this.

Are you saying we should buy ings on the cheap?

[moore_94]

Witness for us was an architect, Robert Gill, who is the director of this company... http://thedesignsolution.co.uk/

 

Suggests to me that this would be for the stadium development

 

If anyone fancies a read, 2nd PDF that is 35 pages: https://find-and-update.company-information.service.gov.uk/company/04593477/filing-history

Edited 12 January 2021 by moore_94

[jeffschlupp]

Just now, moore_94 said:

Witness for us was an architect, Robert Gill, who is the director of this company... http://thedesignsolution.co.uk/

 

Suggests to me that this would be for the stadium development

 

If anyone fancies a read: https://bit.ly/3i6b38x

Gill is Whelan's husband I believe, so unlikely that's the case, but I believe their company were involved in the fanstore renovation so who knows

[Sambiasso]

4 minutes ago, jeffschlupp said:

Gill is Whelan's husband I believe, so unlikely that's the case, but I believe their company were involved in the fanstore renovation so who knows

Correct

[moore_94]

1 minute ago, jeffschlupp said:

Gill is Whelan's husband I believe, so unlikely that's the case, but I believe their company were involved in the fanstore renovation so who knows

Booooooo  ruined within 1 minute haha

[Mehrez]

Probably just sorting funds for Messi’s pre contract

[Chocolate Teapot]

19 minutes ago, moore_94 said:

Witness for us was an architect, Robert Gill, who is the director of this company... http://thedesignsolution.co.uk/

 

Suggests to me that this would be for the stadium development

 

If anyone fancies a read, 2nd PDF that is 35 pages: https://find-and-update.company-information.service.gov.uk/company/04593477/filing-history

 

17 minutes ago, jeffschlupp said:

Gill is Whelan's husband I believe, so unlikely that's the case, but I believe their company were involved in the fanstore renovation so who knows

Why did you spoil it?

[Chocolate Teapot]

38 minutes ago, Babylon said:

Southampton just made a £62m loss because of COVID. And that’s not even including the losses from this season. 
 

I think people need to prepare themselves for the fact we are going to have huge losses over our next two sets of accounts and we have bills to pay.

I don't think anyone is expecting anything different tbh. And you're probably quite correct.

 

I personally cannot see the stadium expansion going ahead just yet but could of course be wrong.

 

And the only bit I'd counter this with is we're generally pretty shrewd and not carelessly run. Clubs like West ham, villa and Leeds in the summer were spending for fun and are now tightening things up as they were slightly more optimistic about things returning to normal. 

 

It's all relative in football, we'll be in far better shape than many clubs (our debts were far lower than a lot last time I checked). I do wonder if we see players becoming available now who are cheaper than they would be in the summer or a year's time whether we'd jump at the opportunity. That said it's very hard to get the quality of player we need. Personally I just wonder why its in January - it could possibly be coincidence but my understanding is these types of loans are usually for major investments (which could change during lockdown of course).

[FoxyPalace.com]

I think it will be for the new stadium development 100%

[Fox in the North]

Back in the last program of the season, Top said  “we intend to resume consultation on stadium expansion by the end of 2020.” That says to me irrespective of the pandemic that the club intends to carry on.

 

It’s probably been delayed a little but I don’t think he’d have gone on record in the summer if the current situation was to significantly hinder the club’s plans.

[Aus Fox]

1 hour ago, moore_94 said:

Witness for us was an architect, Robert Gill, who is the director of this company... http://thedesignsolution.co.uk/

 

Suggests to me that this would be for the stadium development

 

If anyone fancies a read, 2nd PDF that is 35 pages: https://find-and-update.company-information.service.gov.uk/company/04593477/filing-history

 

1 hour ago, jeffschlupp said:

Gill is Whelan's husband I believe, so unlikely that's the case, but I believe their company were involved in the fanstore renovation so who knows

Thanks Sherlock and Watson, between looking at the fine details of contracts, tracking aeroplanes, knowing the ins and outs of directors family and friends and trips to Morrison’s we do have some great detectives on here.

Keep up the great work!

[WarehamFox]

Have we taken a new loan? If so how much? 

[Clever Fox]

i wouldn't worry too much about it. Did you see Barcelona's Debt in the papers today . Approx 1 Billion in Debt.

But they've been a basket case for a long time now.

 

 

It's hard to know what the borrowing is for but I'm certain it's not for Day to Day running like many Clubs are struggling with.

Borrowing against TV revenue is pretty common among Clubs. Though I never quite sure why if your on top of things.

 

It could be to secure the borrowing while the rates are very favorable as there's likely to be some sort of correction to the Markets when we get on top of Covid.

Or it could be to make a signing or two now to try and improve the team chances of success in the league and Cups.

 

Only the Club really knows and until they tell us it's just supposition.

[coolhandfox]

4 hours ago, StanSP said:

Same appears to be done against PL TV money. Possibly to fund future transfers or stadium expansion? 

 

I'd imagine its abot short term cash flow, no income from ticket sales must leave a little bit of a hole in the short term cash reserves.

[Corky]

Plus, should it unfortunately come to it, we do have good assets to sell to raise money.

 

Given the lack of matchday revenue we're going to need a boost in the short term that hopefully we'll start to recover next season. And again, a top four finish would boost us hugely.

[King of Gipsy Lane]

3 hours ago, Babylon said:

Southampton just made a £62m loss because of COVID. And that’s not even including the losses from this season. 
 

I think people need to prepare themselves for the fact we are going to have huge losses over our next two sets of accounts and we have bills to pay.

We will be quids in once we sell Man United another centre half 👀👀👀

[Ric Flair]

3 hours ago, Babylon said:

Southampton just made a £62m loss because of COVID. And that’s not even including the losses from this season. 
 

I think people need to prepare themselves for the fact we are going to have huge losses over our next two sets of accounts and we have bills to pay.

Just at the exact same time that the new transfer rules make it even harder and more expensive to sign players. Its going to be a rough few years. 

[justfoxes]

17 hours ago, moore_94 said:

Witness for us was an architect, Robert Gill, who is the director of this company... http://thedesignsolution.co.uk/

 

Suggests to me that this would be for the stadium development

 

If anyone fancies a read, 2nd PDF that is 35 pages: https://find-and-update.company-information.service.gov.uk/company/04593477/filing-history

By the look of the first link they’re either designing us an Airport or retail space 😎🤪

[Spudulike]

The Mockury reckons its to do with the Chilwell transfer fee.. 

 

https://www.leicestermercury.co.uk/sport/football/football-news/leicester-city-take-out-another-4883518.amp?__twitter_impression=true

 

[Marshall Cockney Fox]

All I want to know is where the 'save my club' crowdfunder link is. I am happy to lend King Power my Xmas present money. Might buy Youri a sarnie!!

[Steve Earle]

19 hours ago, jeffschlupp said:

Gill is Whelan's husband I believe, so unlikely that's the case, but I believe their company were involved in the fanstore renovation so who knows

Where have you been @jeffschlupp? Have missed your posts!