No. It absolutely is not.Quote:
Originally Posted by J R Hartley
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No. It absolutely is not.Quote:
Originally Posted by J R Hartley
I pity you if you go through life not looking for change "just in case" its not as good. The guy has raped our club and made us a national laughing stock which we'll still be hearing about in 50 years time!Quote:
Originally Posted by life on mars
Good riddance to the fruit loop, he can't f*** off quick enough for my liking.
Lets also not forget that this alleged "£130m investment" he's put in consists to a large degree of 7 years worth of high interest payments he's paid to himself on the debt he created
Sven saysQuote:
Originally Posted by gabbsthenewt
"It has been suggested elsewhere that the document isn't new, so it may be that it was produced 'in readiness but not for publication' as Tan considers his options. However, several people (including our own Forever Blue) have always vehemently maintained that Tan wants out of the club, so there may well be mileage in the article".
So it must be true :facepalm:
You and Tan have a common interest now . Neither of you want to visit the stadium .Quote:
Originally Posted by Kris
I'd give £30 to buy the club....
It's now getting close to eighteen months since Vincent Tan announced he would convert £68 million of debt into equity - the original reason given for the delay in that happening was the amount of time it takes for the Malaysian Government to authorise such transactions, but, surely, it shouldn't take this long?Quote:
Originally Posted by Kris
The story in the Star raises the possibility that the main debt to equity conversion has gone through without the media fanfare that I for one was fully expecting when it happened. If it has done and the asking price quoted is an accurate one, then it seems to me that all City fans should be thankful to Mr Tan wiping out the majority of our debt while also putting the club up for sale at what strikes me as a pretty reasonable price in today's market.
However, if I had to guess, I'd say that there isn't much to this story. I think seven years is longer than normal for anyone to be an owner in today's game and now may be a good time for Mr Tan to sell up if he is that way inclined - I just believe that it's likely that there needs to be more preparatory work for such a sale at City.
How much do you think Vincent Tan has taken out of the club in the last 7 years?Quote:
Originally Posted by Rhiw-Blue
My understanding from all the regular commentaries on annual accounts is that he hasn't taken anything out. He's put a lot in though.
I don't think the club will be sold for £30m debt free. Of course I could be wrong as I am not up to date with the club's finances.
Normally when a company is sold the price would not wipe out any debt that is on the books. In other words, unless Tan has converted all of the debt to equity which I doubt, the debt will remain. The most likely scenario is that Tan will be selling his majority shareholding - ie shares - which will enable the new owner only to gain control of the Company and to deal with any debt outstanding in the normal course of business.
As for some of the comments about Tan milking the club these statements are far from the truth. He has lost a fortune and in fact has turned himself into a decent owner which I for one will be sorry to lose.
Going up in red felt hollow to me.Quote:
Originally Posted by Vindec
Fake almost. Most Saturdays there were arguments in the stand between red and blue, dirty looks given to those decked out in red clutching their superstore bags, scarf gate (for me the low point and pushed me close to joining the boycotters).
I am under no illusion that playing in the prem would be any more enjoyable next time, but getting there, this time in blue would feel like doing it properly iykwim.
And yes, part of me believes that we should forgive and forget and allow Tan to share in that and get something positive back for his investment.
I know that to some though he will always be the antichrist and I get that.
Maybe not, but its true.Quote:
Originally Posted by Kris
Look at the state Bolton are in.
http://www.bbc.co.uk/sport/football/40658854
I thought they had to stage the debt to equity over 5(?) years to beat FFP, as the investment isn't allowable under FFP rules. I think!Quote:
Originally Posted by the other bob wilson
While I'm no Tan fan and despised the rebrand, I think Choo and therefore Tan, are doing a pretty good job at the moment. We could get a better owner but equally, we could get Vincent Tan mk1.
Club claims it a load of bollux.
http://www.walesonline.co.uk/sport/f...ction-13358408
Look at the state Bournemouth are in.Quote:
Originally Posted by Charlie
Sounds plausible.Quote:
Originally Posted by Charlie
Most of the things I own I'd be prepared to part with if someone came to me with a good offer. Doesn't mean I'm off to a car boot anytime soon though.
More fake news. Who'd have thought it from The Star!Quote:
Originally Posted by Charlie
Define 'raped' in this context. Idiotic comment if you ask me. He saved the club from bankruptcy, has put in at least £130 million of his own money to keep us afloat, got us into the premier league, has already converted part of his debt to equity and promised to leave us debt free. There is no evidence that he has taken anything out of the club in return. He has also backed the club again this year and Neil Warnock (a very experienced manager used to dealing with difficult owners) appears quite happy with his support and enthusiasm for this years campaign. He made a mistake with the rebranding but was big enough to admit this and reverse it. What does make us a laughing stock is people like you saying you are a fan but continually being abusive to Tan and moaning about the way the club is run.Quote:
Originally Posted by Rhiw-Blue
You're right, there were going to be staged payments of a seven figure sum every year for five years starting with the payment that was included in the club accounts for y/e 31/5/16 and I presume the next installment will be in the y/e 31/5/17 figures when they're released. However, the biggest payment was the one of £68 million referred to in these piecesQuote:
Originally Posted by Pedro de la Rosa
http://www.walesonline.co.uk/sport/f...-debt-10875878
and
http://www.walesonline.co.uk/sport/f...xpert-12703275
As far as I'm aware, this still hasn't gone through.
Ah, you're correct. I naively thought the £68m was the full whack, then remembered it isn't! I would have thought, had it happened there would have been a great deal of fanfare, and it would have had to have been included in the accounts, although they're about 12 months out of date now.Quote:
Originally Posted by the other bob wilson
Im sure VT has lots of contingency plans available to him across all his business interests. To me actions speak louder than words, and in the way VT has backed NW whilst resisting cashing in on Morrison and Ken, would suggest that he certainly is not running things down in any way. Maybe he is open to investment of some sort and maybe he may sell up, but in the main I feel its just a sensationalist version of the truth thats being reported.
Just as an add on, there are not many owners currently out there that I would rather have running our club at this time.
Spot onQuote:
Originally Posted by bluethrough
Think that's quite harsh.Quote:
Originally Posted by bobh
He did it to [in his mind rightly or wrongly] help us and then when found to be wrong, put it right.
We could do a lot worse than Tan and if he did sell we could be wishing he hadn't
From Wales online
WalesOnline has now seen the document referred to in the reports in the Daily Star. We can reveal:
The 32-page brochure is titled 'Project Dragon' and is dated June 2017;
Its opening lines of introduction state the “opportunity exists to invest in English football market through acquisition of Cardiff City Football Club, a professional football team playing in the EFL Championship”;
It goes on to detail the steady rise of revenues at the top of the game in England, before outlining the “strong support of its major shareholder” and readiness of the club “to return to the top level of competition”;
The document details the growth in Premier League revenues and states Championship clubs “offer a strategic route to invest in English football”;
Under a heading of 'Investment Opportunity', it reiterates in its first bullet point that “opportunity exists to acquire Cardiff City Football Club”;
It goes on to stress its in-place infrastructure, loyal fan base and how investment would enable the team to continue its development;
The structure of the English football market is then detailed, before a focus on the club's organisation, its facilities, academy set-up and its historic achievements;
It also provides an outline of the current state of the side, saying that Tan was behind efforts to return to the Premier League and the fresh impetus provided by manager Neil Warnock, as well as outlining recent signings – including last week's addition of Lee Tomlin from Bristol City;
A financial outline of the club is given before an introduction to the city of Cardiff; and
The document closes with an invitation on any enquiries to contact named WMG staff.
^^^
That doesn't seem to fit particularly well with Mehmet D's 'strong refute' and 'it must be the "silly season" ' comments apparently from this morning.
If the club want to sell, i can see how it would also want (need) to be guarded and cautious but still somehow put the club in the shop window.
All without upsetting the apple-cart.
Not easy TBF.
But I hope, after all the recent healing that we don't go back to the club issuing plainly ridiculous statements and expecting fans to swallow it.
There was too much of that in very dark days, and those times are surely gone.