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17 mill and transfer embargo on 10:46 - Jul 27 by Snipper
So in reality, the best we can ever hope for now supporting our club, is being a mid to lower table Championship club.
FFP severally restricts what we can do, while clubs with bigger gates/revenue, get bigger, we stagnate.
If it wasn’t for the piss up with mates before and after the games, I’d jack it all in.
Huddersfield won promotion from this league, playing wonderful football, on a budget akin to what we're operating on now. Burnley did it first time around on less than our budget now. Preston are in the shake up for the play-offs every year on less than our budget now. It can be done.
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17 mill and transfer embargo on 10:53 - Jul 27 with 2863 views
17 mill and transfer embargo on 10:37 - Jul 27 by Irish_Hoop
It's worth remembering that the shareholder loans that have been capitalised carried a very high rate of interest which, without checking the figures, I would guess amounted to a bigger annual cost than the £1.7m we need to pay the EFL every year. Seems like a really good financial outcome to me.
They aren't taking the interest back at the moment, they're converting that to shares as well. Hopefully that continues...
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17 mill and transfer embargo on 10:54 - Jul 27 with 2859 views
17 mill and transfer embargo on 10:42 - Jul 27 by onlyrinmoray
Why does anyone with half a brain buy the Sun is it for the pictures? BTW what does the Football League do with the money clubs pay in fines?
I used to buy it for something to look at on the train without having to think and the problem page was usually funny plus they had tits in it and I was shallow enough to enjoy that for 20p. Now we have phones, ipads etc I've no idea why anyone buys it these days
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17 mill and transfer embargo on 10:55 - Jul 27 with 2845 views
I think the ABC loan was a whole different level of nuts in a vice syndrome to this 17M fine on a lenient 10 year arrangement. Wasn't the ABC loan payable at 1M a year just in interest alone and the whole loan secured against the Stadium?
[Post edited 27 Jul 2018 10:56]
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17 mill and transfer embargo on 10:58 - Jul 27 with 2807 views
17 mill and transfer embargo on 10:54 - Jul 27 by daveB
I used to buy it for something to look at on the train without having to think and the problem page was usually funny plus they had tits in it and I was shallow enough to enjoy that for 20p. Now we have phones, ipads etc I've no idea why anyone buys it these days
The half a brain bit was a clue.
The problem is that Sun readers generally do what The Sun tells them in the absence of being able to think for themselves.
"Thank you for supporting Queens Park Rangers Steep Staircase"... and I thought I'd signed up for a rollercoaster.
17 mill and transfer embargo on 10:46 - Jul 27 by Snipper
So in reality, the best we can ever hope for now supporting our club, is being a mid to lower table Championship club.
FFP severally restricts what we can do, while clubs with bigger gates/revenue, get bigger, we stagnate.
If it wasn’t for the piss up with mates before and after the games, I’d jack it all in.
Absofuc*inlgutley.
I really have had enough of all this. The last 25 years or so has just been one crisis after another and all the while football has become less and less appealing to me.
For me I don’t care about any of this cr@p anymore. It’s beyond my control so I will not worry about it. Rangers still get a big chunk of my annual wage every year but they’re not getting any more of life.
As far as football in generla goes, I’ll keep an eye on the Divisions below us but the Premier League can go f*ck itself.
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17 mill and transfer embargo on 11:00 - Jul 27 with 2790 views
Really good outcome: fine is paid over ten years (value discounts into the future) and is half of the last 'compromise' figure; one constrained transfer window. Do we know how much goes to Grenfell? Whatever it is, that's a nice way to turn a local punishment into a local benefit.
Damn good result and credit to all concerned, especially whoever resolved to keep pushing after the last finding. I feel really good about the club with this.
17 mill and transfer embargo on 10:18 - Jul 27 by Northernr
Did you think we were just going to get a slap on the wrist? It's was a flagrant, disgusting breach of the rules. Also it doesn't saddle the club with debt if they continue to convert the money owed to them into equity.
This post has been edited by an administrator
It's more about who actually pays the bill Clive. If they're around and continue to convert debt to equity it will be them. But, if they're not around for 10 years, the liability remains on the club's balance sheet after they've gone and so they won't have covered that proportion beyond their exit. Based upon finances no one would be mad enough to take the club on, it's so unattractive for various reasons. The only hope is a fan, with more money than sense, who's prepared to inject millions a year just to survive in the Championship comes along, but I'm not convinced that person exists. Sorry to p1ss on everybody's chips but unless the owners inject the full amount now and the club ring-fences the funds, this will kill us. £40m or £20m, the only difference is how long it takes to sink, unless the owners genuinely stump up the cash.
All I want to know is - if it's all sorted now and we know where we're at - can we sign some proper players? I want some shiny new signings. Surely, if the board are paying. we can afford to go over FFP in a much more minor fashion every now and then?
'More blood' as Northern would say.
And can someone please tell me how you can email Gary Penrice?
17 mill and transfer embargo on 11:12 - Jul 27 by isawqpratwcity
Really good outcome: fine is paid over ten years (value discounts into the future) and is half of the last 'compromise' figure; one constrained transfer window. Do we know how much goes to Grenfell? Whatever it is, that's a nice way to turn a local punishment into a local benefit.
Damn good result and credit to all concerned, especially whoever resolved to keep pushing after the last finding. I feel really good about the club with this.
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17 mill and transfer embargo on 11:39 - Jul 27 with 2534 views
17 mill and transfer embargo on 11:35 - Jul 27 by WestbourneR
All I want to know is - if it's all sorted now and we know where we're at - can we sign some proper players? I want some shiny new signings. Surely, if the board are paying. we can afford to go over FFP in a much more minor fashion every now and then?
'More blood' as Northern would say.
And can someone please tell me how you can email Gary Penrice?
short answer is no, we are still under FFP and can't lose more than 39 million over 3 years so don't expect any big signings anytime soon
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17 mill and transfer embargo on 11:48 - Jul 27 with 2472 views
Clive's excellent (as per usual) article mentions that the January transfer embargo is not a total ban on players coming in, correctly mentioning the 'one-in-one-out rule'. The WLS article reinforces this.
My understanding of the EFL embargo rules paints an even rosier picture, maybe worth considering.
The one-in-one-out rule applies to 'established players'. The EFL defines 'established players' as 24 or more years of age and who have played 5 or more first team games.
Looking at EFL rule 6.1 and 6.1.3, If a club has less than 24 established players it can still get players in provided there are no costs in signing the player. Therefore a player can be got in on a free transfer, or on a loan if all the club is doing is paying their wages (full or a proportion) and there is no loan fee. The £600k wages rules still apply - as long as the employee (i.e. wage) costs are no more than £600k per year (pro-rata) [any agent's fee would be got around by being paid as 'a benefit in kind' to the player, as part of the £600k].
Looking at the lack of 'established' players in the current squad, and the board's commitment to financial prudence in terms of wages anyway, there seems to be a bit more leeway here than we first thought, and the embargo seems to be less of an issue than it could be for most other EFL clubs.
[Post edited 27 Jul 2018 11:52]
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17 mill and transfer embargo on 11:55 - Jul 27 with 2437 views
For me personally it was a real pleasure & a privilege to watch the likes of Barton Traore Kranjaker, Sandro Green Ceaser Mbia Cisse Samba Johnson Young Benyaoun Hoilett Granero Remy Doyle Miaga Fabio Rio Caulker Mutch Vargas Fer Isla Park SWP Jenas
well done Tony Fernades I say , from taking over a club as champions of the championship to giving us such great times , I bet Neil Warnock is laughing his bollo cks off
And Bowles is onside, Swinburne has come rushing out of his goal , what can Bowles do here , onto the left foot no, on to the right foot
That’s there that’s two, and that’s Bowles
Brian Moore
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17 mill and transfer embargo on 12:14 - Jul 27 with 2364 views
17 mill and transfer embargo on 11:29 - Jul 27 by DejR_vu
It's more about who actually pays the bill Clive. If they're around and continue to convert debt to equity it will be them. But, if they're not around for 10 years, the liability remains on the club's balance sheet after they've gone and so they won't have covered that proportion beyond their exit. Based upon finances no one would be mad enough to take the club on, it's so unattractive for various reasons. The only hope is a fan, with more money than sense, who's prepared to inject millions a year just to survive in the Championship comes along, but I'm not convinced that person exists. Sorry to p1ss on everybody's chips but unless the owners inject the full amount now and the club ring-fences the funds, this will kill us. £40m or £20m, the only difference is how long it takes to sink, unless the owners genuinely stump up the cash.
Yeh the whole thing hangs on whether they stick around and whether they’re happy to continue this debt to equity arrangement. If not it’s a proper millstone.
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17 mill and transfer embargo on 12:40 - Jul 27 with 2218 views
17 mill and transfer embargo on 12:30 - Jul 27 by Northernr
Yeh the whole thing hangs on whether they stick around and whether they’re happy to continue this debt to equity arrangement. If not it’s a proper millstone.
If they sell the shareholder loans either get repaid or written off. They’re loans to the shareholder. These loans will be factored into any price paid for the club. I would also expect these loans to have a change of control clause (pretty standard). We’re only up the creak if this loan is repaid by bank debt or some other financing that could cripple the club as we can’t pay the interest.
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17 mill and transfer embargo on 13:02 - Jul 27 with 2123 views
17 mill and transfer embargo on 12:30 - Jul 27 by Northernr
Yeh the whole thing hangs on whether they stick around and whether they’re happy to continue this debt to equity arrangement. If not it’s a proper millstone.
They have made some mistakes, but given where the Board are from and their Credo-like approach to business, I see little risk that they will walk away leaving a mess.
They are extremely wealthy individuals and I sense they see a long-term opportunity with the training ground, the stadium and OOC. They appear to have a good moral compass in their business dealings.
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17 mill and transfer embargo on 13:27 - Jul 27 with 2037 views
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