The club is in freefall. :music::ayatollah::hehe::wave:
https://www.fansnetwork.co.uk/footba...counts-.../#50
Won't be long before Wrexham are the second biggest team in Wales :hehe::hehe:
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The club is in freefall. :music::ayatollah::hehe::wave:
https://www.fansnetwork.co.uk/footba...counts-.../#50
Won't be long before Wrexham are the second biggest team in Wales :hehe::hehe:
Saw this on their site and most seem quite relaxed about it based on income that will show in the next accounts?Quote:
Originally Posted by Dave St
I suspect we are a worse position especially based on limitations in the Jan window - I suspect we won't know for sure until tan leaves??
Just a reminder that we owe £100 million to Tan and Dalman.
Of course, But not an issue.
Their American friends are draining the club - Won't be long until league 1 and 2 beacons :hehe:
We need to start displaying the American flag at our next game against them - it could be their last 'Champions league final' against us :hehe:
A big problem plenty of Championship clubs have is they feel they need to have at least 2 experienced players in each position, this is a huge drag on finances as they're on far more money than younger players who could play that fringe role
Their own mistakes…..if I ran my business badly I lose money…..Quote:
Originally Posted by Captain_Sensible
The Jacks type of owners are kind of sinister and scary.
I get the old school owner like Grogan, Clemo. Local business men trying to do their bit for their local team. They become a bit of a local celebrity and use the position to get more business (in theory)
The you have your Jack Warners, big money, prepated to lose a bit to give back to their community as a sort of fairy godmother
Then the bored billionaires. They rarely make their pastime pay, whether that be horses, cycling teams, F1 or football teams. But it gives them an interest outside thier world, lots of noteriety and fame then write off most of the losses against tax in the holding company
This faceless hedge fund lot are in it for a 10% or more year on year return of their investment. They are measuring up the assets and selling at the right price. I think the Jacks are entering a bad place. Not sure they have anything to sell now, so it will be slashing costs next.
Didn't Tan do a loan to equity conversion ?Quote:
Originally Posted by Captain_Sensible
This faceless hedge fund lot are in it for a 10% or more year on year return of their investment. They are measuring up the assets and selling at the right price. I think the Jacks are entering a bad place. Not sure they have anything to sell now, so it will be slashing costs next.Quote:
Originally Posted by llan bluebird
Love it, I think you are right :thumbup:
He has done a few.Quote:
Originally Posted by pipster
He converted £68m and £8m debt to equity in 2016; £12.6m in 2017; £66.4m in 2018.... maybe more in the intervening years.... and £25.6m in 2022. He also regularly wrote off debts.
https://www.bbc.co.uk/sport/football...ee%20by%202021.
https://www.ccfctrust.org/2023/03/
I don't remember seeing a recent Trust commentary by Keith Morgan of the club accounts up to end of May 2023 but the previous year's summary is above. Despite the write offs and conversions Keith was saying that as of May 2022 the club debt to Tan and his family was £73m and nearly £21m more to Tormen Finance (Mehmet Dalman). I think the Tan debt is interest free. The Tormen debt racks up 9% interest pa.