MILLIONS TO BE PAID OUT SOON

Lots of you have asked why is there no signings ? Why are the Malaysians not spending their money ? Who is the £3million immediate debt that needs to be settled payable too ?

There is £1.5million left owing on Michael Chopra to Sunderland and this has to be by the end of this July and if we do not pay then the FA will place us under another transfer embargo. This is a direct result of Peter Ridsdale and his style of 'Buy Now Pay Later'.

Also there is a payment of £2million to Paul Guy and this has to be paid by September. I am hopeful that Guy will negotiate with the Malaysians for the good of our club as I think he has done very well out of the club and it's surrounding land if you consider how much land he has obtained for very little cost in comparision to what it was valued at previously.

There is £6million in wages to be paid between the start of the season and December 31st.

There is the £10 million payable to Langston by the end of the calender year also, plus as I have told you previously the Malaysians are currently talking with an overseas company regarding the stadium naming rights, the first £5 million from any deal would be paid directly to langston also.

There are also other commitments the club has got to continue to pay throughout the season to service the debts of creditors that are listed. In total we are talking well over £25 million to be paid out this calender year. I know that the Malaysians will have known of these figures as they done their due dilligence but I have wrote it for us the fans to understand why there has been very little activity regards players coming in.

This is, as I have said previously, a direct result of Ridsdales neglective control of the finances and the way in which he run the club, it is now time that we tighten the belt but unfortunately for the Malaysians it is made more difficult as two of the largest income streams to the club are not there to be relied upon ie. Season ticket money ( Ridsdale spent ) and Premier seating income ( straight into Guy's pocket ). If we average the same crowds as last year then the club will be surviving on a crowd of basically 4,000. As we know have 17,000 season ticket holders and we averaged 21,000 last season.

If we work on the 4,000 figure then you can determine that if each ticket is worth on average £15, once you have subtracted police, steward and other running costs, the club would be making £60,000 per game. Multiply that figure by 23 league games and the club will make £1.4 million from league games over the course of the season, with a wage bill of £1.2 million every month you can start to understand the work that needs to be done this year alone, nevermind the season.

yeah,,,,, which brings me on to?, why did the malaysians take this club on?????/

Watch out Carl, The echo will run this story, this week as an Exclusive, THANKS for the info, but not good I am afraid.

some questions on this Carl...

Lots of you have asked why is there no signings ? Why are the Malaysians not spending their money ? Who is the £3million immediate debt that needs to be settled payable too ?

There is £1.5million left owing on Michael Chopra to Sunderland and this has to be paid very soon and if we do not pay then the FA will place us under another transfer embargo. This is a direct result of Peter Ridsdale and his style of 'Buy Now Pay Later'.

THIS WAS ORIGINALLY SUPPOSED TO BE £500K PER SEASON

Also there is a payment of £2million to Paul Guy and this has to be paid by September. I am hopeful that Guy will negotiate with the Malaysians for the good of our club as I think he has done very well out of the club and it's surrounding land if you consider how much land he has obtained for very little cost in comparision to what it was valued at previously.

THE CLUB HAVETHE OPTION TO TURN £2.7M OF THIS DEBT INTO SHARES - IS THIS RELATED ?

There is £6million in wages to be paid between the start of the season and December 31st.

SOME OF THIS IS SUPPOSED TO BE IN PLACE (JULY/AUGUST)

There is the £10 million payable to Langston by the end of the calender year also, plus as I have told you previously the Malaysians are currently talking with an overseas company regarding the stadium naming rights, the first £5 million from any deal would be paid directly to langston also.

AS FAR AS THE DETAILED AGREEMENT GOES, THE £10M WON'T ALL HAVE TO BE PAID OFF (UNLESS YOU KNOW DIFFERENT), ONLY £1M, OF WHICH SOME SHOULD ALREADY HAVE BEEN PAID.

There are also other commitments the club has got to continue to pay throughout the season to service the debts of creditors that are listed. In total we are talking well over £25 million to be paid out this calender year. I know that the Malaysians will have known of these figures as they done their due dilligence but I have wrote it for us the fans to understand why there has been very little activity regards players coming in.

This is, as I have said previously, a direct result of Ridsdales neglective control of the finances and the way in which he run the club, it is now time that we tighten the belt but unfortunately for the Malaysians it is made more difficult as two of the largest income streams to the club are not there to be relied upon ie. Season ticket money ( Ridsdale spent ) and Premier seating income ( straight into Guy's pocket ). If we average the same crowds as last year then the club will be surviving on a crowd of basically 4,000. As we know have 17,000 season ticket holders and we averaged 21,000 last season.

If we work on the 4,000 figure then you can determine that if each ticket is worth on average £15, once you have subtracted police, steward and other running costs, the club would be making £60,000 per game. Multiply that figure by 23 league games and the club will make £1.4 million from league games over the course of the season, with a wage bill of £1.2 million every month you can start to understand the work that needs to be done this year alone, nevermind the season.

Lots of you have asked why is there no signings ? Why are the Malaysians not spending their money ? Who is the £3million immediate debt that needs to be settled payable too ?

There is £1.5million left owing on Michael Chopra to Sunderland and this has to be paid very soon and if we do not pay then the FA will place us under another transfer embargo. This is a direct result of Peter Ridsdale and his style of 'Buy Now Pay Later'.

Also there is a payment of £2million to Paul Guy and this has to be paid by September. I am hopeful that Guy will negotiate with the Malaysians for the good of our club as I think he has done very well out of the club and it's surrounding land if you consider how much land he has obtained for very little cost in comparision to what it was valued at previously.

There is £6million in wages to be paid between the start of the season and December 31st.

There is the £10 million payable to Langston by the end of the calender year also, plus as I have told you previously the Malaysians are currently talking with an overseas company regarding the stadium naming rights, the first £5 million from any deal would be paid directly to langston also.

There are also other commitments the club has got to continue to pay throughout the season to service the debts of creditors that are listed. In total we are talking well over £25 million to be paid out this calender year. I know that the Malaysians will have known of these figures as they done their due dilligence but I have wrote it for us the fans to understand why there has been very little activity regards players coming in.

This is, as I have said previously, a direct result of Ridsdales neglective control of the finances and the way in which he run the club, it is now time that we tighten the belt but unfortunately for the Malaysians it is made more difficult as two of the largest income streams to the club are not there to be relied upon ie. Season ticket money ( Ridsdale spent ) and Premier seating income ( straight into Guy's pocket ). If we average the same crowds as last year then the club will be surviving on a crowd of basically 4,000. As we know have 17,000 season ticket holders and we averaged 21,000 last season.

If we work on the 4,000 figure then you can determine that if each ticket is worth on average £15, once you have subtracted police, steward and other running costs, the club would be making £60,000 per game. Multiply that figure by 23 league games and the club will make £1.4 million from league games over the course of the season, with a wage bill of £1.2 million every month you can start to understand the work that needs to be done this year alone, nevermind the season.

Difficult times ahead.

Still, if the riddler was still here we would be down the pan.

If the rumours about our wage bill are true, the first thing that needs to be done is to renegotiate every wage at the club. Should save a few quid.

Next up would be getting rid of people not needed. Not just players, but any member of staff who isn't needed. As I understand it, we have a few people there doing nothing / very little.

The annoying thing is that we only need 2 or 3 more players to be capable of challenging for automatic promotion, in my opinion.

We Def would be Uncle Fester.

yeah,,,,, which brings me on to?, why did the malaysians take this club on?????/

The gamble of winning the play offs.

Lots of you have asked why is there no signings ? Why are the Malaysians not spending their money ? Who is the £3million immediate debt that needs to be settled payable too ?

There is £1.5million left owing on Michael Chopra to Sunderland and this has to be paid very soon and if we do not pay then the FA will place us under another transfer embargo. This is a direct result of Peter Ridsdale and his style of 'Buy Now Pay Later'.

Also there is a payment of £2million to Paul Guy and this has to be paid by September. I am hopeful that Guy will negotiate with the Malaysians for the good of our club as I think he has done very well out of the club and it's surrounding land if you consider how much land he has obtained for very little cost in comparision to what it was valued at previously.

There is £6million in wages to be paid between the start of the season and December 31st.

There is the £10 million payable to Langston by the end of the calender year also, plus as I have told you previously the Malaysians are currently talking with an overseas company regarding the stadium naming rights, the first £5 million from any deal would be paid directly to langston also.

There are also other commitments the club has got to continue to pay throughout the season to service the debts of creditors that are listed. In total we are talking well over £25 million to be paid out this calender year. I know that the Malaysians will have known of these figures as they done their due dilligence but I have wrote it for us the fans to understand why there has been very little activity regards players coming in.

This is, as I have said previously, a direct result of Ridsdales neglective control of the finances and the way in which he run the club, it is now time that we tighten the belt but unfortunately for the Malaysians it is made more difficult as two of the largest income streams to the club are not there to be relied upon ie. Season ticket money ( Ridsdale spent ) and Premier seating income ( straight into Guy's pocket ). If we average the same crowds as last year then the club will be surviving on a crowd of basically 4,000. As we know have 17,000 season ticket holders and we averaged 21,000 last season.

If we work on the 4,000 figure then you can determine that if each ticket is worth on average £15, once you have subtracted police, steward and other running costs, the club would be making £60,000 per game. Multiply that figure by 23 league games and the club will make £1.4 million from league games over the course of the season, with a wage bill of £1.2 million every month you can start to understand the work that needs to be done this year alone, nevermind the season.

carl

what you have laid out above is the reason i made my criticisms of the bellamy transfer and vincent tan spending millions on the club frenzy that was going on on the board a few weeks ago.
there is no money at the club for signings and i still wonder where we go from here.
people cant really begin to fathom the amount of trouble ridsdale got our club into financially

How does any other football club cope?

Obviously ignoring any long term liabilities, how do other similar championship clubs cope?

Most have a similiar attendance figure, and comparable wages.
A football clubs business model is completely different to any other, but surely most clubs are in a similar situation of wages several times higher than gate receipts

How does any other football club cope?

Obviously ignoring any long term liabilities, how do other similar championship clubs cope?

Most have a similiar attendance figure, and comparable wages.
A football clubs business model is completely different to any other, but surely most clubs are in a similar situation of wages several times higher than gate receipts

the difference between us and them is a disease called ridsdale

How does any other football club cope?

Obviously ignoring any long term liabilities, how do other similar championship clubs cope?

Most have a similiar attendance figure, and comparable wages.
A football clubs business model is completely different to any other, but surely most clubs are in a similar situation of wages several times higher than gate receipts

the difference between us and them is a disease called ridsdale

Obviously there are the huge debts, but ignoring those - surely all football clubs are in the same situation with regards to wages and gate receipts and the like.

I would suggest that a buy now pay later policy is the policy of 99% of football chairman and is not exclusive to Ridsdale. I've always been in the Ridler out camp but our other directors must also take a share of the blame, they failed to look after the interests of the club as well.

The lack of spend doesn't really bother me, the club needs to stabilise, Dave Jones now needs to start earning his massive salary, there are players about who don't command massive transfer money and salaries, Holloway proved that.

I would suggest that a buy now pay later policy is the policy of 99% of football chairman and is not exclusive to Ridsdale. I've always been in the Ridler out camp but our other directors must also take a share of the blame, they failed to look after the interests of the club as well.

The lack of spend doesn't really bother me, the club needs to stabilise, Dave Jones now needs to start earning his massive salary, there are players about who don't command massive transfer money and salaries, Holloway proved that.

Totally agree and Dave Jones should now take more responsibility with the wages he gets.

the difference between us and them is a disease called ridsdale[/quote]

Obviously there are the huge debts, but ignoring those - surely all football clubs are in the same situation with regards to wages and gate receipts and the like.[/quote]

Yes, and unless those debts mentioned all have to be paid off IMMEDIATELY (which I'm not convinced they do), then servicing them is more an issue, the interest and STAGED paments, which is likely to be a lot less.

Its not ideal, but not necessarily as bad as it looks.

the difference between us and them is a disease called ridsdale

Obviously there are the huge debts, but ignoring those - surely all football clubs are in the same situation with regards to wages and gate receipts and the like.[/quote]

Yes, and unless those debts mentioned all have to be paid off IMMEDIATELY (which I'm not convinced they do), then servicing them is more an issue, the interest and STAGED paments, which is likely to be a lot less.

Its not ideal, but not necessarily as bad as it looks.[/quote]

Tim, They def do have to be paid off This year the ones Carl has said.

I would suggest that a buy now pay later policy is the policy of 99% of football chairman and is not exclusive to Ridsdale. I've always been in the Ridler out camp but our other directors must also take a share of the blame, they failed to look after the interests of the club as well.

The lack of spend doesn't really bother me, the club needs to stabilise, Dave Jones now needs to start earning his massive salary, there are players about who don't command massive transfer money and salaries, Holloway proved that.

i understand your point about other directors but how on earth could the chairman who held less than 10% of the shares take out a loan against player sales behind every director and major shareholders backs.
it just defies logic but football finances are a very murky world

carl does this mean no players coming in ?

Yes, and unless those debts mentioned all have to be paid off IMMEDIATELY (which I'm not convinced they do), then servicing them is more an issue, the interest and STAGED paments, which is likely to be a lot less.

Its not ideal, but not necessarily as bad as it looks.[/quote]

Tim, They def do have to be paid off This year the ones Carl has said.[/quote]

I've questioned every one of them based on what has been reported in the last 12 months or so Annis.

PMG - there is an agreement for £2.7m to be knocked off the debt for shares, and then staged payments on the balance (reported at EGM in May), so the club based on that SHOULD be able to avoid that.

Chopra - The original signing was based on £500k up front and £500k per season, have we missed a payment or, has there been an add-on triggerred - or are we selling him ?

Sam- I understand you don't want to go into detail, but even after the earlier posts on it, I was under the impression, as reported at the time that we only had to pay £1m this year, as a minimum, but COULD pay £10m to clear it completely (which i think we SHOULD do anyway).

Wages - it was reported (I'm sure on here,) that we had the money to cover July/August), so only 4 months to cover.

I would suggest that a buy now pay later policy is the policy of 99% of football chairman and is not exclusive to Ridsdale. I've always been in the Ridler out camp but our other directors must also take a share of the blame, they failed to look after the interests of the club as well.

The lack of spend doesn't really bother me, the club needs to stabilise, Dave Jones now needs to start earning his massive salary, there are players about who don't command massive transfer money and salaries, Holloway proved that.

i understand your point about other directors but how on earth could the chairman who held less than 10% of the shares take out a loan against player sales behind every director and major shareholders backs.
it just defies logic but football finances are a very murky world

I would agree that football finances defy logic, in any other business except possibly banking!!!! that the business would be wound up with the amount of money outstanding. That said I would have to presume that Ridsdale did nothing wrong else we would be seeing some sort of action being taken against him, if that is the case then the procedures within the club were just not good enough.

We've already signed Heaton which gives us an idea of the plan.
I would imagine he would have got a signing on fee and a reasonable wage.
2 or 3 bosmans and a couple of loans signings.
As for the debt well let TG and VT worry about that.

some questions on this Carl...

Lots of you have asked why is there no signings ? Why are the Malaysians not spending their money ? Who is the £3million immediate debt that needs to be settled payable too ?

There is £1.5million left owing on Michael Chopra to Sunderland and this has to be paid very soon and if we do not pay then the FA will place us under another transfer embargo. This is a direct result of Peter Ridsdale and his style of 'Buy Now Pay Later'.

THIS WAS ORIGINALLY SUPPOSED TO BE £500K PER SEASON

Also there is a payment of £2million to Paul Guy and this has to be paid by September. I am hopeful that Guy will negotiate with the Malaysians for the good of our club as I think he has done very well out of the club and it's surrounding land if you consider how much land he has obtained for very little cost in comparision to what it was valued at previously.

THE CLUB HAVETHE OPTION TO TURN £2.7M OF THIS DEBT INTO SHARES - IS THIS RELATED ?

There is £6million in wages to be paid between the start of the season and December 31st.

SOME OF THIS IS SUPPOSED TO BE IN PLACE (JULY/AUGUST)

There is the £10 million payable to Langston by the end of the calender year also, plus as I have told you previously the Malaysians are currently talking with an overseas company regarding the stadium naming rights, the first £5 million from any deal would be paid directly to langston also.

AS FAR AS THE DETAILED AGREEMENT GOES, THE £10M WON'T ALL HAVE TO BE PAID OFF (UNLESS YOU KNOW DIFFERENT), ONLY £1M, OF WHICH SOME SHOULD ALREADY HAVE BEEN PAID.

There are also other commitments the club has got to continue to pay throughout the season to service the debts of creditors that are listed. In total we are talking well over £25 million to be paid out this calender year. I know that the Malaysians will have known of these figures as they done their due dilligence but I have wrote it for us the fans to understand why there has been very little activity regards players coming in.

This is, as I have said previously, a direct result of Ridsdales neglective control of the finances and the way in which he run the club, it is now time that we tighten the belt but unfortunately for the Malaysians it is made more difficult as two of the largest income streams to the club are not there to be relied upon ie. Season ticket money ( Ridsdale spent ) and Premier seating income ( straight into Guy's pocket ). If we average the same crowds as last year then the club will be surviving on a crowd of basically 4,000. As we know have 17,000 season ticket holders and we averaged 21,000 last season.

If we work on the 4,000 figure then you can determine that if each ticket is worth on average £15, once you have subtracted police, steward and other running costs, the club would be making £60,000 per game. Multiply that figure by 23 league games and the club will make £1.4 million from league games over the course of the season, with a wage bill of £1.2 million every month you can start to understand the work that needs to be done this year alone, nevermind the season.

Tim, the figures and dates I have quoted above are what I have learned over the previous days and as I said to TLG in another thread regarding debt, I was of the same understanding as you have pointed out above, but after my conversations with certain people, my understanding has changed.

Lots of you have asked why is there no signings ? Why are the Malaysians not spending their money ? Who is the £3million immediate debt that needs to be settled payable too ?

There is £1.5million left owing on Michael Chopra to Sunderland and this has to be paid very soon and if we do not pay then the FA will place us under another transfer embargo. This is a direct result of Peter Ridsdale and his style of 'Buy Now Pay Later'.

Also there is a payment of £2million to Paul Guy and this has to be paid by September. I am hopeful that Guy will negotiate with the Malaysians for the good of our club as I think he has done very well out of the club and it's surrounding land if you consider how much land he has obtained for very little cost in comparision to what it was valued at previously.

There is £6million in wages to be paid between the start of the season and December 31st.

There is the £10 million payable to Langston by the end of the calender year also, plus as I have told you previously the Malaysians are currently talking with an overseas company regarding the stadium naming rights, the first £5 million from any deal would be paid directly to langston also.

There are also other commitments the club has got to continue to pay throughout the season to service the debts of creditors that are listed. In total we are talking well over £25 million to be paid out this calender year. I know that the Malaysians will have known of these figures as they done their due dilligence but I have wrote it for us the fans to understand why there has been very little activity regards players coming in.

This is, as I have said previously, a direct result of Ridsdales neglective control of the finances and the way in which he run the club, it is now time that we tighten the belt but unfortunately for the Malaysians it is made more difficult as two of the largest income streams to the club are not there to be relied upon ie. Season ticket money ( Ridsdale spent ) and Premier seating income ( straight into Guy's pocket ). If we average the same crowds as last year then the club will be surviving on a crowd of basically 4,000. As we know have 17,000 season ticket holders and we averaged 21,000 last season.

If we work on the 4,000 figure then you can determine that if each ticket is worth on average £15, once you have subtracted police, steward and other running costs, the club would be making £60,000 per game. Multiply that figure by 23 league games and the club will make £1.4 million from league games over the course of the season, with a wage bill of £1.2 million every month you can start to understand the work that needs to be done this year alone, nevermind the season.

carl

what you have laid out above is the reason i made my criticisms of the bellamy transfer and vincent tan spending millions on the club frenzy that was going on on the board a few weeks ago.
there is no money at the club for signings and i still wonder where we go from here.
people cant really begin to fathom the amount of trouble ridsdale got our club into financially

Steve there is a reason why the Malaysians have only committed to buying on 36.75% of shares. It is a difficult time still and this was caused by the previous regime, fronted by Ridsdale.

Steve/Carl I agree we will prob now suffer this Season through The Riddler and thousands out there dont realise how bad a debt he has really left us in.

Lots of you have asked why is there no signings ? Why are the Malaysians not spending their money ? Who is the £3million immediate debt that needs to be settled payable too ?

There is £1.5million left owing on Michael Chopra to Sunderland and this has to be paid very soon and if we do not pay then the FA will place us under another transfer embargo. This is a direct result of Peter Ridsdale and his style of 'Buy Now Pay Later'.

Also there is a payment of £2million to Paul Guy and this has to be paid by September. I am hopeful that Guy will negotiate with the Malaysians for the good of our club as I think he has done very well out of the club and it's surrounding land if you consider how much land he has obtained for very little cost in comparision to what it was valued at previously.

There is £6million in wages to be paid between the start of the season and December 31st.

There is the £10 million payable to Langston by the end of the calender year also, plus as I have told you previously the Malaysians are currently talking with an overseas company regarding the stadium naming rights, the first £5 million from any deal would be paid directly to langston also.

There are also other commitments the club has got to continue to pay throughout the season to service the debts of creditors that are listed. In total we are talking well over £25 million to be paid out this calender year. I know that the Malaysians will have known of these figures as they done their due dilligence but I have wrote it for us the fans to understand why there has been very little activity regards players coming in.

This is, as I have said previously, a direct result of Ridsdales neglective control of the finances and the way in which he run the club, it is now time that we tighten the belt but unfortunately for the Malaysians it is made more difficult as two of the largest income streams to the club are not there to be relied upon ie. Season ticket money ( Ridsdale spent ) and Premier seating income ( straight into Guy's pocket ). If we average the same crowds as last year then the club will be surviving on a crowd of basically 4,000. As we know have 17,000 season ticket holders and we averaged 21,000 last season.

If we work on the 4,000 figure then you can determine that if each ticket is worth on average £15, once you have subtracted police, steward and other running costs, the club would be making £60,000 per game. Multiply that figure by 23 league games and the club will make £1.4 million from league games over the course of the season, with a wage bill of £1.2 million every month you can start to understand the work that needs to be done this year alone, nevermind the season.

Carl

You and I have had a long tel.conv. about this tonight and its a bit late for an old bugger like me to post a detailed reply now , but I will try and post something up here tomorrow .

Cheers

Keith

I am assuming that after the 25m has been paid off at the end of this calender year we will have paid off our majority long standing debts apart from Langston which will take longer and obviously players wages which is on going forever. So hopefully the majority will be ok so short term pain = long term gain is this right? Annis or Carl

Well if we are still in shit street why are we still posting theings about Bellamey

We obviously aint got a pot to piss in

Question!!!! - if things are really this bad and I have no doubt that they are, why oh why was Ridsdale allowed to leave this club on his terms (with a severence package), making his own statements to the media as he left, without any riposte from any of the other board members or major shareholders? Is there something Ridsdale has over them? Surely if he was taking out loans or mortgages against the valuation of players without the knowledge of other directors then this is illegal. Why have criminal proceedings not been brought against Mr Ridsdale by our club? what is there to hide? something just doesn't add up here.

Well if we are still in shit street why are we still posting theings about Bellamey

We obviously aint got a pot to piss in

The deal with Bellamy was the club basically stealing him on the cheap, as I have said many times the club would take him but on their terms only, the club could have made money from Bellamy as he would have given them full houses, increased shirt sales, bigger sponsorships and increased takings in the club shop.

i dont think we will sign many pre season but come xmas and if we are there or there abouts i think we will be spending in january