Since 62's commentary on club accounts y/e 31/5/19.

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Originally Posted by the other bob wilson

Still don't get how we can have stories of sixty odd million pounds worth of debt converted to shares in the 18/19 financial year and the overall debt only goes down by £2 million in the accounts for that period - I thought we were supposed to be well on the way to being debt free once that big debt to equity conversion had taken place?

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Paul

The big debt to equity conversion took place at the end of May 2018 and was reflected in the 31 May 2018 accounts. No debt conversions or debt write offs were done by Vincent Tan in the year to 31 May 2019

Keith

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Originally Posted by Since62

Paul

The big debt to equity conversion took place at the end of May 2018 and was reflected in the 31 May 2018 accounts. No debt conversions or debt write offs were done by Vincent Tan in the year to 31 May 2019

Keith

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I did wonder about that Keith, but was influenced by the date of the story I put a link to earlier - I do find it disappointing though that we still have a debt of over £100 million despite the fact that the big debt to equity conversion was reported as being part of a process which would leave us debt free eventually.

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Originally Posted by the other bob wilson

I did wonder about that Keith, but was influenced by the date of the story I put a link to earlier - I do find it disappointing though that we still have a debt of over £100 million despite the fact that the big debt to equity conversion was reported as being part of a process which would leave us debt free eventually.

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It looks like the club has had a change of tack, whereby they’ve borrowed money to lower the Tan debt, but this seems to have increased the total debt.

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Originally Posted by The Hooded Claw

It looks like the club has had a change of tack, whereby they’ve borrowed money to lower the Tan debt, but this seems to have increased the total debt.

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It does doesn't it - perhaps I'm worrying unnecessarily, but I preferred it when all of our debt was owed to Vincent Tan.

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Originally Posted by the other bob wilson

I qualify what I put in this message with the rider that I'm no expert, so there may be a perfectly valid and simple explanation to it, but I'm confused by the appearance of stories like this one during the 18/19 financial year;-

https://www.walesonline.co.uk/sport/...t-tan-14872242

which does not seem to be reflected in the latest accounts.

Also, should we be worried about the "other loans" totalling £39.5 million not provided by the Directors or Shareholders? From what I can gather, it seems they will be paid off by television money (nearly all of the parachute payments for next season?), but, on the face of it, this seems like a move into Hammam territory to me and, surely, we don't want to be heading there again?

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We're debt free, we should be thankful to Tan for that. Or something along those lines wasn't it?

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Originally Posted by the other bob wilson

It does doesn't it - perhaps I'm worrying unnecessarily, but I preferred it when all of our debt was owed to Vincent Tan.

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But but but but but, we are debt free.

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Originally Posted by The Hooded Claw

It looks like the club has had a change of tack, whereby they’ve borrowed money to lower the Tan debt, but this seems to have increased the total debt.

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The total debt has actually gone down slightly since the previous accounts and by a lot since two years ago

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Originally Posted by splott parker

European football every season............maybe!!!!

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cheaper seats

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Originally Posted by the other bob wilson

It does doesn't it - perhaps I'm worrying unnecessarily, but I preferred it when all of our debt was owed to Vincent Tan.

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I don’t like the thought of debt with external lenders, either.
At least with money owing to Tan, there is less pressure for the moulah to be paid over, whereas there’ll surely be an obligatory payment schedule with a lender.