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Thread: Debt free in 5 years

  1. #1

    Debt free in 5 years

    What happened to that?
    Didn't Tan almost cast that in stone?

  2. #2

    Re: Debt free in 5 years

    I think Coronavirus happened.

  3. #3

    Re: Debt free in 5 years

    Quote Originally Posted by The Hooded Claw View Post
    I think Coronavirus happened.
    Most other teams seem to have survived. Tan one of the richest in our league too

  4. #4

    Re: Debt free in 5 years

    Quote Originally Posted by goats View Post
    Most other teams seem to have survived. Tan one of the richest in our league too

    Most other clubs are “surviving” you mean …. Have a look at @swissramble on Twitter if you want to see other clubs finances compared to ours , can see a few more going into administration within the next year or two.

  5. #5

    Re: Debt free in 5 years

    Quote Originally Posted by goats View Post
    Most other teams seem to have survived. Tan one of the richest in our league too
    given the recent transfer window there seem to be a lot of clubs tightening their belts at the moment.

  6. #6
    International jon1959's Avatar
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    Re: Debt free in 5 years

    Tan made the 'debt free in 5 years' commitment in February 2016.

    https://www.itv.com/news/wales/updat...-issue-shares/

    Keith Morgan gave a pretty thorough update commentary in early 2017 following a meeting with Dalman that was reported by WOL, explaining some of the hurdles to making good on that commitment:

    https://www.walesonline.co.uk/sport/...xpert-12703275

    Tan has written off a lot of debt and made several big debt to equity conversions. The exact figures have been discussed on here many times.

    A few years back (pre Covid) Dalman seemed to have altered the script to question why Tan would follow through with his commitment, rather than explaining why it couldn't be done in the original timescale.

    Then Covid happened.

  7. #7

    Re: Debt free in 5 years

    We are better off in liquidation

  8. #8

    Re: Debt free in 5 years

    Quote Originally Posted by The Hooded Claw View Post
    I think Coronavirus happened.
    Oh OK, thanks for that

  9. #9

    Re: Debt free in 5 years

    Quote Originally Posted by life on mars View Post
    We are better off in liquidation
    Do you have any understanding of we what liquidation means for a limited company?

  10. #10
    International jon1959's Avatar
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    Re: Debt free in 5 years

    Quote Originally Posted by life on mars View Post
    We are better off in liquidation


  11. #11

    Re: Debt free in 5 years

    Quote Originally Posted by life on mars View Post
    We are better off in liquidation
    Hopefully a poor joke.

  12. #12

    Re: Debt free in 5 years

    presumably converting debt to equity is a lot less appealing to do in a company that is reducing in value

  13. #13

    Re: Debt free in 5 years

    The 5th anniversary for the conversion of debt to equity was Feb 2021. The last meeting with Mehmet Dalman prior to the one on Saturday was a Zoom meeting in Jan 2021. He was asked this question then and he confirmed that, due to the financial impact of Covid, the plan to complete the debt to equity conversion had been deferred. No date for completion was given.

  14. #14

    Re: Debt free in 5 years

    also, doesn't the Michael Isaac legal action relate to issuing new shares? might the outcome of this be delaying any further increase in equity?

  15. #15

    Re: Debt free in 5 years

    Quote Originally Posted by life on mars View Post
    We are better off in liquidation
    Apparently we are the only capital city in Europe without a team in its respective top league, maybe soon it will be without a club at all….

  16. #16

    Re: Debt free in 5 years

    Quote Originally Posted by Rjk View Post
    presumably converting debt to equity is a lot less appealing to do in a company that is reducing in value
    He’ll end up giving the club back to hammam and isaacs at this rate that will please a few people

  17. #17

    Re: Debt free in 5 years

    Quote Originally Posted by goats View Post
    Apparently we are the only capital city in Europe without a team in its respective top league, maybe soon it will be without a club at all….
    nope, Cardiff met are in the Welsh premier

  18. #18

    Re: Debt free in 5 years

    Quote Originally Posted by goats View Post
    He’ll end up giving the club back to hammam and isaacs at this rate that will please a few people
    I don't think he will.

  19. #19

    Re: Debt free in 5 years

    Does Issaacs have a good case?

  20. #20

    Re: Debt free in 5 years

    Quote Originally Posted by stan butler View Post
    Does Issaacs have a good case?
    https://www.walesonline.co.uk/sport/...court-18365243

  21. #21

    Re: Debt free in 5 years

    Quote Originally Posted by goats View Post
    Apparently we are the only capital city in Europe without a team in its respective top league, maybe soon it will be without a club at all….
    Wales is not a state and Cardiff is not a state capital. The word 'country' means a number of different things and Wales does not have its own exclusive government or representation at international meetings of any gravitas. It doesn't have representation in its own football league (a very lowly league) etc etc. - so the comparison is rather meaningless.

  22. #22

    Re: Debt free in 5 years

    Quote Originally Posted by The Hooded Claw View Post
    I think Coronavirus happened.

    8 years after he took over. He'll be looking to get his money back.

  23. #23

    Re: Debt free in 5 years

    Quote Originally Posted by Taunton Blue Genie View Post
    Wales is not a state and Cardiff is not a state capital. The word 'country' means a number of different things and Wales does not have its own exclusive government or representation at international meetings of any gravitas. It doesn't have representation in its own football league (a very lowly league) etc etc. - so the comparison is rather meaningless.
    Not even a member of the UN. Same status as Catalunya or Thuringia.

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