Reply With QuoteVery good news. I hope he is given a cheer at Charlton.After all the abuse some gave him.
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To convert debt to equity (£68m) of it, new shares have to be issued so mr Issacs shares value will go down to about the same he paid for them, well done VT, that shows that the boodsucker should have sold his shares to VT while he had the chance,great news of this debt to equity
Very good news. I hope he is given a cheer at Charlton.After all the abuse some gave him.
After all the abuse he's received I'm surprised he hasn't told us to stuff it. £68m is a huge sum which compensates for the money wasted over the last few years. It's great that he is sticking with it as without him we would have no club to support.
The report also states:
He revealed he has also agreed to write-off a further £10m, that last season he wrote-off £13m and also converted £3m of debt into equity.
Those developments will leave the Bluebirds with an overall debt of £40m and Tan pledged that he will convert £8m of that from debt into equity every year forthwith.
The structured plan will mean that in five years the Bluebirds will be debt-free.
Nice to see some educated and positive comments from true supporters.
I'm not a supporter, but that announcement HAS to be good news for the club.Originally Posted by valley boy wrote on Thu, 11 February 2016 16:47
It sounds like Tan has been incredibly generous. How many other businessmen would wipe out millions of pound worth of debt?
He made a mistake over the rebrand but surely he deserves credit for this?
But I don't want to rain on anyone's parade, it's a great day for the club IMHO and demonstrates that not only is he here to stay, but he does keep his promises
If I pissed away 60 quid I'd be annoyed. 60 million, I'd be like ...
http://youtu.be/30YW3wgRvyI
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