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Post by daniel300380 on Dec 18, 2014 13:45:45 GMT
If you asked a random 100 or 1000 Rovers fans the same questions about what is wrong with the club I think you would find almost complete agreement how they see matters both off and on the field over the past few years For those of us who have tried to suggest even the most nominal / minimal capital outlay to improve matters for the club both financial and marketing wise nothing seems to be taken on board meaning that ultimately the club loses valuable income and PR etc IF and it is a VERY BIG IF UWE was to happen I am convinced that in the absence of change of structure and staff the whole project would be probably 'fail' to progress as other clubs have done They said we would have a proper CEO but can't afford one until the Uwe is built. No long term deals have been given out, they made sure that we were progressing under dc before backing him more. Think things have been changing, but there is no quick fix.
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Peter Parker
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Richard Walker
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Post by Peter Parker on Dec 18, 2014 13:47:13 GMT
John Drinkwater and David Capra are well respected in the City. They are financial experts (Commercial accountants). If MSP have been brought in to help the club over a period when finances will need to be flexible - from now to UWE - then it could be a good move because High Street Banks like Barclays are not at all flexible. However, secondary lenders like MSP who are usually more expensive do not have high street branches dealing with the general public (supporters of football clubs) so if problems arise they can be a lot more inflexible when calling in debts because they do not have to worry about customer flack. Hopefully, the re-financing will give the BOD access to finance to overcome Sainsburys hiccups and removal costs so that we can soon be travelling to South Glos instead of Horfield to watch football. According to there website they only give out loans from 1 to 12 months. Don't think the club would risk losing the mem for a short term deal, so hopefully this is a good sign that the Uwe has progressed. If it was a general loan, we would have took a longer loan with smaller payments. I'm no expect but this has to be a good sign?? I suppose it depends on the circumstances in which the Barclays loan has been removed and how quickly we may have had to act
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Deleted
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Post by Deleted on Dec 18, 2014 13:51:31 GMT
holmes appears to be correct. Companies House says it's MSP Capital Ltd (Co No 01543169) of Poole that have been given belts and braces security of the Mem and land around. Looks like the bank and Deltavon (GoD's Co) have been repaid. The Directors of MSP are John Drinkwater, Martin Higgins, David Capra, Paul Miracca. JD is ex-Goldman Sachs. It does development, business and bridging finance. Hope its not the latter as that can be expensive and costly.... These type of people are far less sympathetic and patient than banks when getting their money back. You don't miss deadlines or payments or else you get penalised. They are also more likely to call in the receiver if the club don't pay up. If it is bridging finance it could be that we are near the end and the Sainsbury deal could be concluded or compensation paid soon. However if it is a gamble that things will be resolved soon, it could be a costly gamble if the Sainsbury issue drags on. Let's hope it is the former.... John Drinkwater and David Capra are well respected in the City. They are financial experts (Commercial accountants). If MSP have been brought in to help the club over a period when finances will need to be flexible - from now to UWE - then it could be a good move because High Street Banks like Barclays are not at all flexible. However, secondary lenders like MSP who are usually more expensive do not have high street branches dealing with the general public (supporters of football clubs) so if problems arise they can be a lot more inflexible when calling in debts because they do not have to worry about customer flack. Hopefully, the re-financing will give the BOD access to finance to overcome Sainsburys hiccups and removal costs so that we can soon be travelling to South Glos instead of Horfield to watch football. or they may be helping Mr Higgs to sale the club
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kingswood Polak
Without music life would be a mistake
Joined: May 2014
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Post by kingswood Polak on Dec 18, 2014 13:55:27 GMT
Interesting that the existing stadium loan with Barclays has just been refinanced by MCP. According to their website, MCP Capital is a private equity funder - i.e. a long term investor who invariably takes share capital and puts one of their own on to the board of directors. This could of course be a bail out scenario but, being an optimist, I think it could also mean something big (e.g. transition to new debt free stadium) is about to happen. PE investors are much more flexible than the banks but as far as I'm aware they don't usually pawnbroke (in the sense that they lend directly against an asset). Someone, somewhere must have produced a fairly convincing business plan based on the expected outcome with Sainsburys. they also are a company who comes in to a business to "try" and avoid administration. Also they are like the wonga of business high interest rates ect. They have lent directly against the mem and the surrounding land sounds to me barclays have wanted there money back quick and rovers have had to borrow directly against the mem as they would never be able to borrow against the uwe as they would never actually own it Geoff has been paid off too. Don't know what to make of that as he had a legal charge for that in anycase. Strange times indeed
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jvilla
Joined: December 2014
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Post by jvilla on Dec 18, 2014 13:59:48 GMT
Hello chaps. Long time lurker, villa fan but also filton avenue resident. Have been hoping for you lot to sell for housing and a new school and put my house price up. Quick point - look at case studies on that lenders site, nearly all about bridge loans to enable BUILD projects. Good omen i think. Sainsburys aint buying it, reckon your board have got another buyer and with loans will go ahead with uwe. All cold speculation by someone not emotionally involved with your club.
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Post by Antonio Fargas on Dec 18, 2014 14:11:05 GMT
Hello chaps. Long time lurker, villa fan but also filton avenue resident. Have been hoping for you lot to sell for housing and a new school and put my house price up. Quick point - look at case studies on that lenders site, nearly all about bridge loans to enable BUILD projects. Good omen i think. Sainsburys aint buying it, reckon your board have got another buyer and with loans will go ahead with uwe. All cold speculation by someone not emotionally involved with your club. Hi, and welcome to the forum, Well, if there's one thing worse than having football fans walking past your house once a week, it's having school kids going past every day. But yeah, housing would seem to be an obvious, popular, and easy alternative. The trouble for us with something like a school or other big municipal project, istm, is it would take ages to plan and develop and we'd be left in limbo again. Of course, if the council just bought the place with a view to (any) future project istm it would suit everyone. I'm still hoping for the velodrome/unicorn safari park.
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jvilla
Joined: December 2014
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Post by jvilla on Dec 18, 2014 14:21:47 GMT
Ta for the welcome fargas. This lender look like they are funding short term to enable the build, could be they are happy with the potential land value of the mem and are lending up to its value. Reduced size uwe i reckon. And sainsburys put to one side while compo battle goes on.
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Post by gasbound on Dec 18, 2014 14:22:29 GMT
they also are a company who comes in to a business to "try" and avoid administration. Also they are like the wonga of business high interest rates ect. They have lent directly against the mem and the surrounding land sounds to me barclays have wanted there money back quick and rovers have had to borrow directly against the mem as they would never be able to borrow against the uwe as they would never actually own it Geoff has been paid off too. Don't know what to make of that as he had a legal charge for that in anycase. Strange times indeed In last years acounts i seem to remember the 'capitalized profesional fees' for the work done on the new stadium was an asset and there was a warning if all went wrong these fees would be written off, ie a debt? Did this happen with the previous redevelopment at the Memorial Stadium? is it possible this is about to happen again thus the bridging loans. the cost of professional fees when taking into account the recent delivery hours planning aplication must be near £2 million. i do really feel there is a coin spinning in the air and abou to come back down to the ground, heads we will have a seat in a new UWE stadium, tails we're financially doomed and dark days ahead...
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Post by Westcountry Gas on Dec 18, 2014 14:24:03 GMT
they also are a company who comes in to a business to "try" and avoid administration. Also they are like the wonga of business high interest rates ect. They have lent directly against the mem and the surrounding land sounds to me barclays have wanted there money back quick and rovers have had to borrow directly against the mem as they would never be able to borrow against the uwe as they would never actually own it Geoff has been paid off too. Don't know what to make of that as he had a legal charge for that in anycase. Strange times indeed That is one of the major bits of news this week that has been slightly overlooked, GoD paid off and left for good.
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Deleted
Joined: January 1970
Posts: 0
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Post by Deleted on Dec 18, 2014 14:34:04 GMT
John Drinkwater and David Capra are well respected in the City. They are financial experts (Commercial accountants). If MSP have been brought in to help the club over a period when finances will need to be flexible - from now to UWE - then it could be a good move because High Street Banks like Barclays are not at all flexible. However, secondary lenders like MSP who are usually more expensive do not have high street branches dealing with the general public (supporters of football clubs) so if problems arise they can be a lot more inflexible when calling in debts because they do not have to worry about customer flack. Hopefully, the re-financing will give the BOD access to finance to overcome Sainsburys hiccups and removal costs so that we can soon be travelling to South Glos instead of Horfield to watch football. According to there website they only give out loans from 1 to 12 months. Don't think the club would risk losing the mem for a short term deal, so hopefully this is a good sign that the Uwe has progressed. If it was a general loan, we would have took a longer loan with smaller payments. I'm no expect but this has to be a good sign?? Between them the BoD could have come up with this money themselves, charged the club less than MSP will be charging and still earned themselves a bit more than having the money sat in their bank accounts. Fair play to people who manage to see this in a positive way.
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kingswood Polak
Without music life would be a mistake
Joined: May 2014
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Post by kingswood Polak on Dec 18, 2014 14:40:39 GMT
Geoff has been paid off too. Don't know what to make of that as he had a legal charge for that in anycase. Strange times indeed That is one of the major bits of news this week that has been slightly overlooked, GoD paid off and left for good. But still a box holder and using Twitter to talk about his eagerly awaited book on his time , warts n all, with Rovers. He really can't bear to be out of it, can he ?
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Post by gasheadnaboo on Dec 18, 2014 14:49:25 GMT
According to there website they only give out loans from 1 to 12 months. Don't think the club would risk losing the mem for a short term deal, so hopefully this is a good sign that the Uwe has progressed. If it was a general loan, we would have took a longer loan with smaller payments. I'm no expect but this has to be a good sign?? Between them the BoD could have come up with this money themselves, charged the club less than MSP will be charging and still earned themselves a bit more than having the money sat in their bank accounts. Fair play to people who manage to see this in a positive way. The current directors more hesitant to be culpable for selling off Rovers' only asset, if the time came, than Dunford perhaps?
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Post by daniel300380 on Dec 18, 2014 14:55:27 GMT
According to there website they only give out loans from 1 to 12 months. Don't think the club would risk losing the mem for a short term deal, so hopefully this is a good sign that the Uwe has progressed. If it was a general loan, we would have took a longer loan with smaller payments. I'm no expect but this has to be a good sign?? Between them the BoD could have come up with this money themselves, charged the club less than MSP will be charging and still earned themselves a bit more than having the money sat in their bank accounts. Fair play to people who manage to see this in a positive way. How long would that take? Whole point of these short term loans is to make sure that the money is there when it needs to be moved quickly to complete a deal.
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faggotygas
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Post by faggotygas on Dec 18, 2014 15:55:30 GMT
According to there website they only give out loans from 1 to 12 months. Don't think the club would risk losing the mem for a short term deal, so hopefully this is a good sign that the Uwe has progressed. If it was a general loan, we would have took a longer loan with smaller payments. I'm no expect but this has to be a good sign?? Between them the BoD could have come up with this money themselves, charged the club less than MSP will be charging and still earned themselves a bit more than having the money sat in their bank accounts. Fair play to people who manage to see this in a positive way. People with money rarely just keep it in bank accounts. I imagine that most of our directors will have other business interests than just the club.
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faggotygas
Byron Anthony
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Post by faggotygas on Dec 18, 2014 15:59:21 GMT
Geoff has been paid off too. Don't know what to make of that as he had a legal charge for that in anycase. Strange times indeed In last years acounts i seem to remember the 'capitalized profesional fees' for the work done on the new stadium was an asset and there was a warning if all went wrong these fees would be written off, ie a debt? Did this happen with the previous redevelopment at the Memorial Stadium? is it possible this is about to happen again thus the bridging loans. the cost of professional fees when taking into account the recent delivery hours planning aplication must be near £2 million. i do really feel there is a coin spinning in the air and abou to come back down to the ground, heads we will have a seat in a new UWE stadium, tails we're financially doomed and dark days ahead... Why would we need loans for money that's already been spent?
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Deleted
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Post by Deleted on Dec 18, 2014 16:35:00 GMT
That is one of the major bits of news this week that has been slightly overlooked, GoD paid off and left for good. But still a box holder and using Twitter to talk about his eagerly awaited book on his time , warts n all, with Rovers. He really can't bear to be out of it, can he ? KP I'm surprised being that you have been on the forums so long that you have overseen the fact that rose tinters have been telling us for years. All the board members are huge Gasheads in it for the love of the club and plough huge sums of their own personal fortune into the club for the Rovers with no return. I'm sure Dunford being repaid a large loan is purely rumour, he is a Gashead isn't he? He wouldn't add to what some now see as financial peril at the club, surely not.....
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Thatslife
"Decisions are made by those who turn up"
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Post by Thatslife on Dec 18, 2014 16:46:36 GMT
But still a box holder and using Twitter to talk about his eagerly awaited book on his time , warts n all, with Rovers. He really can't bear to be out of it, can he ? KP I'm surprised being that you have been on the forums so long that you have overseen the fact that rose tinters have been telling us for years. All the board members are huge Gasheads in it for the love of the club and plough huge sums of their own personal fortune into the club for the Rovers with no return. I'm sure Dunford being repaid a large loan is purely rumour, he is a Gashead isn't he? He wouldn't add to what some now see as financial peril at the club, surely not..... That would be Mr Dunford You may not like the man but at least be civil when talking of him.
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Post by gasbound on Dec 18, 2014 17:29:26 GMT
In last years acounts i seem to remember the 'capitalized profesional fees' for the work done on the new stadium was an asset and there was a warning if all went wrong these fees would be written off, ie a debt? Did this happen with the previous redevelopment at the Memorial Stadium? is it possible this is about to happen again thus the bridging loans. the cost of professional fees when taking into account the recent delivery hours planning aplication must be near £2 million. i do really feel there is a coin spinning in the air and abou to come back down to the ground, heads we will have a seat in a new UWE stadium, tails we're financially doomed and dark days ahead... Why would we need loans for money that's already been spent? i seem to remember when the club accounts were discussed last year that money spent on a new development was a asset and made the balace sheet look good or for the club made it look not too bad...but if the development did not happen the money moved to the other side of the balance shhet and made the financial situation look bad. agreed the money has been spent and presumably directors loans have helped with this as the club are skint but eventually it has to be paid back. if no development no new lines of income to pay the money back and the balance sheet looks worse reducing the chance of new investment. i may be wrong with my analyses but this is how i read past comments about the accounts. anyone with an alternitive view? i still think their is a coin spinning in the air.
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Peter Parker
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Post by Peter Parker on Dec 18, 2014 17:30:58 GMT
The money is spent, so if written off it will show as a huge loss but not in real time as it were.
What it would mean is money was spent and we never got anything for it in return
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Post by mancgas has left the building on Dec 18, 2014 17:40:41 GMT
Williams made the offer in the summer. Higgs didn't return the call. Don't think Geoffrey is alone in holding grudges. This is actually quite a funny conspiracy theory and completely untrue- if folk spoke only with facts threads wouldn't get to 12 pages very quickly.
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