Season Ticket Money and The Taxman

what is going on ?

only talking about the money the season ticket money raised and the 2.7 million tax bill.

Firstly it would be quite obvious that when PR released the statement saying that any money raised from season tickets would go towards team strengthing he was fully aware of the tax bill. So it would be fair to assume that there was already a plan to pay the tax bill which didnt include using the season ticket money.

Now to me it seems that wherever this money was coming from to pay the tax bill it just hasnt happened for whatever reason, but where was it coming from ?

It cant be normal income streams ie. everyday revenue, otherwise it would be paid, it cant be investment because PR has publicly stated that no external investment would be forthcoming before the transfer window closes so that would seem to leave a player/asset sale.

But considering that PR said that we are strengthing the team it puts him in a corner somewhat, cause how can he sell a player if he is strengthing the squad. Or was it his intention to sell a player and release a statement along the lines of "the player told us he would like to talk to the buying club and we couldnt stop him blah blah blah" and use this money to pay the tax and spend the season ticket money on the players we have been told we are having.

But there has been no bids for any of our players yet, so it leaves PR in a hole. He could use the season ticket money to pay the taxman and that in turn will lift the transfer embargo that is upon us but the problem there is it will leave nothing left to spend.

So what can he do ?

In truth not a lot, except maybe ask for help from existing investors.

But what if the only people he can ask maybe dont want him at the club anymore ?

Surely they would not just hand PR money to settle the tax bill allowing him then to sign players and make out like he has performed wonders, maybe they dont want to see the club suffer but wouldnt mind seeing it struggle a bit if it means that PR gets the stick and abuse that maybe they believe he deserves.

If as I believe that any investors who are showing serious interest in Cardiff city will not consider investing whilst PR is here then it will prove detrimental to other shareholders whilst he remains, so you would think that they may like him to be out of the picture.

So what is the situation we have, It would seem that 2 of the directors are offering some money but not the whole amount ?

why ?

Is it that the club then have to either use season ticket money to pay the tax bill or sell a player to settle the difference ?

Add to this situation that the club has received national coverage over our financial troubles other clubs are bound to take advantage of the situation and put less bids in for players than we may have expected only 6 weeks ago.

So it leaves PR with few options :

1. pay the taxman using season ticket money
2. use the loan money and sell a player to pay the taxman
3. dont pay the taxman

To me I think all 3 options will leave PR feeling the fury of the city fans, and the reason is because he was not honest, open and transparent to us when he had the oppurtunity.

Thats a good post carl.

As for where he was expecting the money to come from didnt he list a load of sources in his e-mails which ended up in the NOW.

Malaysians £2m - I reckon he really believed that was happening
ST money
Sale of Matthews
Money from Birmingham for Johnson/Jerome add-ons
and I think another thing which has slipped my memory.

As you rightly say, theres not just the tax, but other creditors and the monthly wages to sort.

Thank you Tim

I believe PR is desperate and I believe it is not just fans that him out.

Excellent post Carl, but I feel and Believe that the Season ticket money was being rushed in to pay bills all along and not for new players as PR promised.

Excellent post Carl, but I feel and Believe that the Season ticket money was being rushed in to pay bills all along and not for new players as PR promised.

Annis that maybe the case but where ever the "other" money was coming from obviously didnt come through for him.

He gambled and Lost.

So now he has to face the consequence.

will tomorrow bring us closer to some clarification on this subject

What happened to the 1.2 Mill loan from Barclays against the TV money we will recieve at the end of the season, which was going to pay the taxman in December ???????????

We need to figure out the time span from when Ridsdale offered Leeds fans five year price freezes and the day they went into administration. That will give us an aproximate time line to armagheddon.

Missed this last thread night - Great post Carl, some compelling points made.... So, who knows what PRs self proclaimed 'it'll be paid in 10 days' statement to the BBCs Rob Phillips will bring as it hits it's deadline tomorrow....Spin or Sorted?

The transfer window door is closing fast and the players on Jones' list, if they are any good, will be on other clubs lists too obviously - Let's hope we don't run out of time Mr Chairman

Peter

Missed this last thread night - Great post Carl, some compelling points made.... So, who knows what PRs self proclaimed 'it'll be paid in 10 days' statement to the BBCs Rob Phillips will bring as it hits it's deadline tomorrow....Spin or Sorted?

The transfer window door is closing fast and the players on Jones' list, if they are any good, will be on other clubs lists too obviously - Let's hope we don't run out of time Mr Chairman

Peter

Thank you Peter

Here is the link to the report by Rob Phillips live report outside the stadium on Jan 8th where he says that he has just spoken with PR and was told by him that the Tax would be settled within 10 days.

http://news.bbc.co.uk/sport1/hi/footbal ... 448330.stm

click on the link and underneath the pic of PR there are 2 audio links it is the second one labelled CARDIFF CITY'S PLIGHT