Sports Shield - New Owners (Probably)

[plymouth wanderer]

Sooooo, providing SS get football league clearance. We're pretty much debt free?

[Worthy4England]

Sooooo, providing SS get football league clearance. We're pretty much debt free?

Bit difficult to tell TBH...

[thebish]

Sooooo, providing SS get football league clearance. We're pretty much debt free?

compared to what we were - aye... except there is this slightly unclear £15million owed to Eddie if we hit certain levels of success... not a debt - but kind of a debt!

[Worthy4England]

Sooooo, providing SS get football league clearance. We're pretty much debt free?

compared to what we were - aye... except there is this slightly unclear £15million owed to Eddie if we hit certain levels of success... not a debt - but kind of a debt!

Not sure it's quite that clear on wider debt. ED originally said he'd clear £185m, but we were reporting £200m in some places prior to Monday's court case - so is ED writing off £185 + £15m and the £15m he gets back based on performance is the delta. Do we have £15m coz he's wiped £185m and left the delta....when we were reporting £185m, I think that was realisable debt at that point in time, we still had other debts on top - such as the Quikquid loan, what the tax man was owed etc....what's the situation with that etc. etc.

[Jugs]

Sooooo, providing SS get football league clearance. We're pretty much debt free?

compared to what we were - aye... except there is this slightly unclear £15million owed to Eddie if we hit certain levels of success... not a debt - but kind of a debt!

Kinda like a student loan that you only repay once you start earning a certain amount? Not debt debt but still debt.

[LeverEnd]

Sooooo, providing SS get football league clearance. We're pretty much debt free?

compared to what we were - aye... except there is this slightly unclear £15million owed to Eddie if we hit certain levels of success... not a debt - but kind of a debt!

Kinda like a student loan that you only repay once you start earning a certain amount? Not debt debt but still debt.

But will it mean if we get promoted back to the Championship we then have to continue working on a League 1 budget? That would make Championship survival difficult and a Premier League return pretty much impossible.

[Lost Leopard Spot]

Sooooo, providing SS get football league clearance. We're pretty much debt free?

compared to what we were - aye... except there is this slightly unclear £15million owed to Eddie if we hit certain levels of success... not a debt - but kind of a debt!

Kinda like a student loan that you only repay once you start earning a certain amount? Not debt debt but still debt.

But will it mean if we get promoted back to the Championship we then have to continue working on a League 1 budget? That would make Championship survival difficult and a Premier League return pretty much impossible.

Eggs, chickens, my friend! We have a journey round the lower leagues before that. When, if (I must put in if - I don't want Hoss putting a contract out...), we drop into League 1 there'll be a mighty high chance of us plummeting straight through the bottom and out into League 2.

[thebish]

Sooooo, providing SS get football league clearance. We're pretty much debt free?

compared to what we were - aye... except there is this slightly unclear £15million owed to Eddie if we hit certain levels of success... not a debt - but kind of a debt!

Kinda like a student loan that you only repay once you start earning a certain amount? Not debt debt but still debt.

aye... that's how I understand it - but I may be wrong and I'm sure someone will be along shortly to tell me that it's nothing at all like that and it's a criminal and outrageous, despicable and unforgivable doom-laden ticking time bomb over the future of the club... or summat...

[BWFC_Insane]

Hang on a second. We will only be 'debt free' because Sports Shield will have to pay the external debt that the club has racked up. They are being asked to clear up the mess left behind.

Eddie has absolutely no mechanism for recovering his money so I think has little choice but to write off the majority of it. We don't know the deal. Is the 15M on top of the achievement payments or is that the total of them? What is the up front fee to Eddie? Also what has happened to the money from asset sales?

[Worthy4England]

Fcuk me. Two parties have struck a deal that's acceptable to both parties. That both signed it.

[Prufrock]

Heuristics FTW.

He should have said he was selling the club for £7.5m, way below his "valuation" but wasn't even going to take that unless we got promoted back to the Champo within 5 years. If that didn't happen, he was taking only the nominal £1.

Now he's a hero!

[thebish]

Heuristics FTW.

nahhh... never as good as the Eurythmics...

[CrazyHorse]

Eggs, chickens, my friend! We have a journey round the lower leagues before that. When, if (I must put in if - I don't want Hoss putting a contract out...), we drop into League 1 there'll be a mighty high chance of us plummeting straight through the bottom and out into League 2.

I'm starting to get a bit nervous now. Mind, the fat lady hasn't even taken a shower or put her curlers in yet.

I'm tentatively telling ya.

[Lost Leopard Spot]

Eggs, chickens, my friend! We have a journey round the lower leagues before that. When, if (I must put in if - I don't want Hoss putting a contract out...), we drop into League 1 there'll be a mighty high chance of us plummeting straight through the bottom and out into League 2.

I'm starting to get a bit nervous now. Mind, the fat lady hasn't even taken a shower or put her curlers in yet.

I'm tentatively telling ya.

[Enoch]

Mind, the fat lady hasn't even taken a shower

That one's nothing to do with me!

[LeverEnd]

Mind, the fat lady hasn't even taken a shower

That one's nothing to do with me!

Unless you asked her not to, like Napoleon and Josephine?

[Dave Sutton's barnet]

Iles: "FL meeting this afternoon to decide whether SS bid given the go ahead. Very possible that there won't be a definitive answer, though."

[Gary the Enfield]

Iles: "FL meeting this afternoon to decide whether SS bid given the go ahead. Very possible that there won't be a definitive answer, though."

Sounds........unproductive.

[Dave Sutton's barnet]

Iles: "FL meeting this afternoon to decide whether SS bid given the go ahead. Very possible that there won't be a definitive answer, though."

Sounds........unproductive.

More (but not much more) here: http://www.theboltonnews.co.uk/news/14305131.display/

[LeverEnd]

Iles: "FL meeting this afternoon to decide whether SS bid given the go ahead. Very possible that there won't be a definitive answer, though."

Sounds........unproductive.

Maybe they'll convene a committee to discuss the committee's findings amid much shuffling of paper.