It’s really important we never forget this. Mehmet Dalman ma

It’s really important we never forget this. Mehmet Dalman makes money from the club on interest accrued on his loans.

This is paid to a murky company called “Tormen finance inc” who are registered in the British Virgin Islands. It’s about £16million debt and rising.

He also took £297k for “professional service fees” to a company which he left last year. The same shareholders of this company are his mates who own and run HR Owen. This includes Ken Choo. The year before Dalman this ok double this

All this continues to fund his lifestyle between Monaco and his Surrey Mansion. As he runs our club as a thing on the side. Whenever you’re angry it’s not obvious where it should be directed.

Spot on.

“The main liabilities in the May 2022 balance sheet were amounts of £73m due to Vincent Tan and his family and £25.8m due to Tormen Finance, a company in which Mehmet Dalman has a significant interest – this loan carries interest at 9%”.

And the next accounts will show we Owe Dalmans Company about £30mill plus interest etc

In the year consultancy fees were paid to WMG Group in respect of the services of Mehmet Dalman and £1.7m was paid in loan interest to Tormen Finance.

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One things for certain:

It’s never been clearer that any ambitious club trying to challenge for promotion from one of the hardest leagues in world football, to the richest league in world football, CANNOT be done without a permanent senior presence in the organisation.

And our owner never here, The CEO in London working and our so called chairman always in Monaco or London, never Cardiff.

This is why we will continue to fail on and of the pitch.

And remember, Ken Choo also spends 50% of his time at HR Owen. Seems a nice enough guy but at this level, I'm not sure I've ever heard of a part time CEO. In fact, I've never heard of it any any level TBH.

It seems we have a history of the people at the top supposedly with the best interests of the club at heart, actually fleecing the club with extortion interest rates and fees! For Dalman read Hammam and others.

All of them don't give a shit about our club , only lining their own pockets.

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It seems we have a history of the people at the top supposedly with the best interests of the club at heart, actually fleecing the club with extortion interest rates and fees! For Dalman read Hammam and others.

I’ve been a fan since 1976 and I can’t remember a chairman / CEO that didn’t strip the club in some way for their own gain

As I understand things 9% is about the average rate for a commercial load. Out of interest can anyone tell me how much Risdale and Sam were taking each month?

As I understand things 9% is about the average rate for a commercial load. Out of interest can anyone tell me how much Risdale and Sam were taking each month?

Ridsdale took a consultancy fee of £350k pa.

As I understand things 9% is about the average rate for a commercial load. Out of interest can anyone tell me how much Risdale and Sam were taking each month?

Ridsdale took a consultancy fee of £350k pa.

The rate of 9% against the market at the time the money was lent is nothing over the top I am not sure why people think it is over the top. I doubt city would have got this rate on the open market.

As I understand things 9% is about the average rate for a commercial load. Out of interest can anyone tell me how much Risdale and Sam were taking each month?

9% seems a reasonable rate to charge for at least a couple of reasons

1. It is a substantial loan to a company in the very risky industry sector that is professional football
2. The only person with a registered charge over the club assets is Vincent Tan. Therefore anyone lending money to the club would not have security over the ground, players or any other asset and would have to rely on guarantees from VT or his businesses.

For those still questioning how much interest is charged , what interest rate would they expect to pay if they borrowed a lot of money secured by a second charge against their home?

As I understand things 9% is about the average rate for a commercial load. Out of interest can anyone tell me how much Risdale and Sam were taking each month?

Ridsdale took a consultancy fee of £350k pa.

Ridsdale also grated himself £500k of shares in the club via his company WH Sports Limited which he then transferred to himself before that company was placed in liquidation. He "forgot" to tell the liquidator about the transaction and had to be pursued through the court to recover funds. After a couple of years he was forced to pay back £300k.

What still astonishes me about Ridsdale is , despite the above and having been disqualified by the court from being a director or involved in the management of a club for 7 years (he still carried on being an "advisor" to PNE) he currently sits on the EFL main board as a Championship rep.

As I understand things 9% is about the average rate for a commercial load. Out of interest can anyone tell me how much Risdale and Sam were taking each month?

Ridsdale took a consultancy fee of £350k pa.

Ridsdale also grated himself £500k of shares in the club via his company WH Sports Limited which he then transferred to himself before that company was placed in liquidation. He "forgot" to tell the liquidator about the transaction and had to be pursued through the court to recover funds. After a couple of years he was forced to pay back £300k.

What still astonishes me about Ridsdale is , despite the above and having been disqualified by the court from being a director or involved in the management of a club for 7 years (he still carried on being an "advisor" to PNE) he currently sits on the EFL main board as a Championship rep.

Never understood how he was allowed on EFL bench but seems he enjoyed seeing our name pop up. Grrrrrr.

As I understand things 9% is about the average rate for a commercial load. Out of interest can anyone tell me how much Risdale and Sam were taking each month?

9% seems a reasonable rate to charge for at least a couple of reasons

1. It is a substantial loan to a company in the very risky industry sector that is professional football
2. The only person with a registered charge over the club assets is Vincent Tan. Therefore anyone lending money to the club would not have security over the ground, players or any other asset and would have to rely on guarantees from VT or his businesses.

For those still questioning how much interest is charged , what interest rate would they expect to pay if they borrowed a lot of money secured by a second charge against their home?

Keith, I took out a short-term loan to secure property in the USA with an interest rate of 16.99% which is almost double what Mehmet is charging on a substantially larger amount...

Mind you, at that rate, it certainly concentrated the mind to get it paid off speedily...!

Is anyone able to say (from a factual basis) what interest rate Langston were charging back then?