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[QUOTE=Badly Ironed Shirt;4888921]Ok - just checking that article again and these rules were in place in 2015/16. I would assume someone at the club would have known about them. So, now I am wondering about the levels of competency at the club (the club fell foul of bonus rules in 2013/14, so they have form). Tan was, at best, being premature in declaring his debt to conversion equity. It's a shame that still some people think that debt to equity conversion happened, but I now understand why it possibly didn't. Incredible that no-one in the corridors of power was aware of it in February 2016 though.
I can now stop talking about debt to equity conversion, but still have lots of questions about the debt that I will pose at another time.
I still fail to see why you, who profess to not be a supporter of the club are so obsessed by it to such a degree that you regularly seek to derail other threads to press your own obsessive agenda.
I think you need counselling.
He does it because he thinks him bringing it up let’s him get one over on Cardiff City and the posters on here. When it actually just comes across as a bit weird.
If a Championship Club is promoted to the Premier League (a Promoted Championship Club) the Promoted Championship Club shall, notwithstanding promotion, remain bound by these Rules following promotion as if it were still a Championship Club, until such time as it has complied with all of its obligations in respect of the Reporting Period covering its last Season as a Championship Club. Until such time as the Promoted Championship Club has so complied, each of these Rules shall be deemed to apply to that Promoted Championship Club
If I haven't responded directly to you, it's likely that you are on my ignore list or you are trying to derail the thread.
Based on evidence, my view is Tan was not aware of the rules when he announced the debt to equity conversion. Pretty damning that an owner is unaware of these rules and a cynic may even claim that Tan knew the rules but was being deceitful - not me though, I just think there's a huge amount of incompetence in the higher echelons of the club.
It's interesting that some claim Tan would be touted as the messiah if not for the rebrand. He is being touted as the messiah!
What seems to be clear (thanks to the sensible responses) is that Tan was unable to convert the debt to equity at the time it was announced as being due to happen immediately.
My longstanding theory is that he saw TLG get loads of bites with similar repetitive and negative posts, plus something of a cult following, and decided he wanted a bit of that for himself. For some insane reason.
Except he's not as good a poster as TLG, and so he comes across as just a bit sad.
Seems like I'm on your ignore list then (maybe because I didn't bother replying to your long post on debt to equity in what I'm pretty sure was a transfer budget thread).
Anyway, i agree with you about Vincent Tan being probably unaware of the FFP regulations when he made those comments about debt to equity conversion - that doesn't reflect well on him or the club if true, but isn't the real point here that our owner appears to be going ahead with the conversion as quickly as the regulations will allow him to? I've been a frequent critic of his and will probably be again, but the impression I get from this thread is that you started it not expecting to get an answer to the question you asked in the OP, then, having got one that didn't really suit your agenda, you've had to accept what is very much a consolation prize.
Just a shit TLG.
At least we know TLG and can have a real person conversation with him.
I sometimes wonder if this fella is a bot.
As for the debt to equity, I’d like to see it done as we’d no longer be at the risk of Tan liquidating is if he got pissed off, which he’s been in a position to do for years.
But it’s be given up worrying about it. It’s gone from prior to Hammam coming in when as fans we could have taken the club over to the scale of debt putting it completely beyond anything we can do.
I’m just grateful we’ve had someone who’s been prepared to put in £1m + a month to keep us going.
Otherwise we’d have gone the way of Pompey, Luton, Grimsby, Coventry all clubs who I’ve spent a lot of my younger years thinking ‘why are we 2 divisions or more below them’, maybe Stockport - take a look where they are now, in the 90s they we’re in the 2nd tier- 2 leagues above us.
Looking back as fans the biggest mistake we made was not setting a Trust up in the 90s and supporting Borley- a genuine local fan.
We missed our chance then and sincw then have been in th hands of ‘businessmen’.
Tan - rebrand apart- has proven the best of a bad bunch.
It's astonishing to me that a man who has invested close to £150m in the club and has been supporting it to the tune of over £1m a month is regarded to be the best of a bad bunch. There have been many bad foreign owners but Tan is not one of them; indeed without his support the club would probably cease to exist or be languishing in the lower leagues with crowds substantially lower than they are today. Of course Tan made a mistake with the rebrand but that aside he has been an excellent owner in my view.
People make mistakes and learn from it. Tan has definitely improved as an owner and we're in a much better place now.
The fact that there are rules in place to even the playing field is preventing him from clearing the debt now and it no longer matters what he said in the past. Just let go of the past and judge the club and Tan on what they do going forward.
At least now he has an answer, I expect he will draw a line under the matter and not ask again.
He handled the whole thing badly and also allowed a lot of money to be wasted.
Since he reversed the rebrand he has done everything he can to try to make up for it.
Wouldn’t blame him or be surprised if he uses whatever time we have in the Prem now to recoup some of the money he’s put in.
Absolutely agree that we should look forward now not back.
Nothing says you’re going off the deep end like 7 consecutive posts in a thread