Jon
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Post by Jon on Jan 11, 2019 23:53:16 GMT
The amount owed by Torquay United Association Football Club Limited to Riviera Stadium Limited as at 31 March 2018 was £1,200,000. RSL y/e 31/03/18This is an increase of £840,000 from 31 March 2017. The accounts do not say who had lent £1,230,000 to Riviera Stadium Limited, but the liability is shown as due within one year from balance sheet date. |
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Deleted
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Post by Deleted on Jan 12, 2019 11:00:09 GMT
Goodness...that's a shit load of money! How fortunate are we to have 'Clarkey' (as we all affectionally call him) with us! Even more so now looked upon as our Benefactor & Saviour! We're all aware of the position we were in before 'Clarkey' came along...Basket Case doesn't cover it! Yes, 'Clarkey' has made a few mistakes in life...haven't we all...mine was in 1976! He's even made mistakes whilst at TUFC...but mistakes which he's rectified! Harrop (never work with friends or family) being one! It didn't take long for him to be given the 'Order of The Boot!' Owers being another one. Probably Harrop's fault, but 'Clarkey' sorted it out! What a way to sort it out...a manager beyond our wildest dreams! 'Clarkey' has admitted, that he knows nothing about football, and is running the club as a business...hallelujah! It's all very well having a love for a club and pouring millions into it without expecting anything in return...we've seen what a mitigating disaster that can be! Now, we are seeing the results of a business man being in charge! Pushing for promotion...isn't there a thread somewhere saying we've never been promoted as champions...distinct possibility this year! Our next game is Bath...nearly 1500 tickets sold...our entire allocation! When did that last happen! We now have a 'Feel Good' feeling that I haven't felt for Donkies years...takes me back to my teens! Why is all this happening...because someone is putting their hands in their pockets...very deep pockets! Would anybody on this site (or any of the sites) be willing to do the same...even if they had the sort of money 'Clarky has...the answer to that is a resounding NO! This club was history...finished...over...kaput without 'Clarkey's' input of money and nous! Some of you look upon 'Clarkey' as the Devil personified...I look upon him as the guy in 'The Balkan Street Siege!' He was saved by the hostages because he was kind to them! He now lives in a Council House on benefits somewhere in this country! So a happy ending! Supporting TUFC has always been a 'Roller-Coaster' of a ride...it continues to be so!  |
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simonb
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Post by simonb on Jan 12, 2019 12:06:51 GMT
You believe it is individual personal wealth that is being expended?
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Deleted
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Post by Deleted on Jan 12, 2019 12:54:43 GMT
You believe it is individual personal wealth that is being expended? Does it matter if it's personal wealth...Osborne might have sold his soul to the Devil, or be in cahoots with the Tooth Fairy! It doesn't matter! What matters is that we are top of the table and enjoying ourselves! What matters is that it's all down to Osborne! Why do TUFC fans always have to go around wearing 'Sack Cloth & Ashes' and expect something to fall on their heads at any moment! Enjoy this moment...it might be your last! Don't worry too much about this life..worry about the next! |
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simonb
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Post by simonb on Jan 12, 2019 13:25:09 GMT
Everyone should enjoy the moment. I would though still caution - if the debt continues to rise, the club could ultimately fall.
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Deleted
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Post by Deleted on Jan 12, 2019 13:38:04 GMT
Everyone should enjoy the moment. I would though still caution - if the debt continues to rise, the club could ultimately fall. Exactly! If it does ultimately go 'Tits Up'...that's the time to worry! Even then, there's no point worrying, because whatever is going to happen, is going to happen anyway! If everything is going well, why worry...if nothing is going well...why worry! |
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rjdgull
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Post by rjdgull on Jan 12, 2019 14:20:31 GMT
840k is one heck of an increase, ( more than the first team budget?) at that rate likely to go up by another 500k again this year. The question is what happens to that debt? Conversion into shares has been the usual route.
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Post by plainmoorpete on Jan 12, 2019 15:14:45 GMT
840k is one heck of an increase, ( more than the first team budget?) at that rate likely to go up by another 500k again this year. The question is what happens to that debt? Conversion into shares has been the usual route. I would suspect the increase is more than the first team budget. In fact this debt is probably the cost of running the entire club, infrastructure and playing side. I assume the debt, ie monies borrowed, comes from GI. In that case there is no immediate danger of it being called in because it is simply money owed by GI to GI. It is obvious Osbourne doesn't expect to recoup the money by selling the club because nobody is going to pay that for a non league club. Reg is right to some extent. We don't know the long term plan and even if we did there is very little we could do about it. |
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Rob
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Post by Rob on Jan 12, 2019 15:29:31 GMT
840k is one heck of an increase, ( more than the first team budget?) at that rate likely to go up by another 500k again this year. The question is what happens to that debt? Conversion into shares has been the usual route. I would suspect the increase is more than the first team budget. In fact this debt is probably the cost of running the entire club, infrastructure and playing side. We do get some income, though. I would anticipate these figures also include exploratory and consultancy costs for housing development in the form of Stadia 2020 planning. This debt is large, it’s owed to a property developer, and we are lower than we’ve ever been in the pyramid. I do concur with the ‘enjoy while you can’ thinking as we have and will have difficult times. The observation that this shows the benefits of being owned by a businessman are blinkered Reg madness, as the business is relying on large loans that can be called in/charged against TUFC. One might easily conclude that this ownership is less sustainable than has been the case with previous owners. Rob is right that transferring into share capital has been the way to go for previous owners. My guess is this may not happen with this owner. Thank you for the information, Jon. |
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rjdgull
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Post by rjdgull on Jan 12, 2019 17:10:08 GMT
I would anticipate these figures also include exploratory and consultancy costs for housing development in the form of Stadia 2020 planning. Considering the quality of public presentations produced for this project so far that would be a bit of a laugh but no reason for the owner not to charge what he likes for these consultations. |
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Rob
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Post by Rob on Jan 12, 2019 18:04:16 GMT
I would anticipate these figures also include exploratory and consultancy costs for housing development in the form of Stadia 2020 planning. Considering the quality of public presentations produced for this project so far that would be a bit of a laugh but no reason for the owner not to charge what he likes for these consultations. Indeed. |
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Post by stagedoor on Jan 14, 2019 12:58:14 GMT
surely the current debt level, is nothing to worry about, afterall Mr.Osbourne must have costed for this within his 5 year plan, so as i say nothing to worry about then!!!!
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Deleted
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Post by Deleted on Jan 14, 2019 13:32:04 GMT
surely the current debt level, is nothing to worry about, afterall Mr.Osbourne must have costed for this within his 5 year plan, so as i say nothing to worry about then!!!!
Nice to see another sane person on this site! Others might be somewhat less friendly and tell you the exits on the left!  |
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Rob
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Post by Rob on Jan 14, 2019 17:51:30 GMT
surely the current debt level, is nothing to worry about, afterall Mr.Osbourne must have costed for this within his 5 year plan, so as i say nothing to worry about then!!!!
Nice to see another sane person on this site! Others might be somewhat less friendly and tell you the exits on the left! Unsure whether it’s irony or sarcasm you have missed this time, Reg. You choose which best fits. Btw stagedoor, who is Bernie 2 sofas? I wasn’t sure who you meant. |
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Post by stagedoor on Jan 14, 2019 20:08:09 GMT
Big Bernie Phillips
“Mine host” in the Gulls restaurant
For many a good year!!
Alas no longer!!
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