Can't agree

Axa are the main outfit we owe to. They are struggling hugely and would without doubt take the opportunity to call the loan in on a change of ownership. Cullums' stock in the financial world is pretty crap at the moment - Towergate are struggling to pay off their ?500m loan to HBOS (as was) and are in breach of the covenants. The financial world is hugely different now to what it was even a year ago.

Posted By: Sir Lurkalot on March 1st 2009 at 19:15:52

Message Thread

Right I agree that in an ideal world now is the time to replace the board (NCFC) - grimsbycanary3, Mar 1, 18:44:32
- That is all bullshit (NCFC) - fond, Mar 1, 19:10:54
  - Can't agree (NCFC) - Sir Lurkalot, Mar 1, 19:15:52
    - You miss the point. (NCFC) - fond, Mar 1, 19:20:57
      - Maybe, but if that had happened (NCFC) - Sir Lurkalot, Mar 1, 19:25:05
        
        Actually, even last summer I'm pretty sure (NCFC) - Sir Lurkalot, Mar 1, 19:27:45
  - well sounds like he is struggling with his own billion pound business (NCFC) - grimsbycanary3, Mar 1, 19:14:30
    - And that is why failing to conclude the deal when he did have the finance (NCFC) - fond, Mar 1, 19:18:11
      - even at the time it was said that the problem was with the debt (n/m) (NCFC) - grimsbycanary3, Mar 1, 19:22:50
    - You say that... (NCFC) - Dog, Mar 1, 19:15:24
      - and we are still tryiing to sign new players (NCFC) - grimsbycanary3, Mar 1, 19:18:34
      - See my post above (NCFC) - Sir Lurkalot, Mar 1, 19:18:32
- what's to say a new board improves things anyway? (NCFC) - Charles21, Mar 1, 19:01:12
  - That's precisely the point. (NCFC) - Dog, Mar 1, 19:04:44
  - a new board will bring new ideas a change of policy ... (NCFC) - ghostof barry butler, Mar 1, 19:04:02
    - isn't that a new policy though? (NCFC) - Charles21, Mar 1, 19:10:38
- Hits the nail on the head. (NCFC) - Sir Lurkalot, Mar 1, 18:49:32
  - I've been told loads of times that rationality doesn't come into it (NCFC) - pants, Mar 1, 18:52:48
  - So because it's the easy option, basically? (NCFC) - Dog, Mar 1, 18:51:08
    - I don't think it's a case of a soft option, (NCFC) - Sir Lurkalot, Mar 1, 18:57:59
      - Wide of the mark now, maybe. (NCFC) - Dog, Mar 1, 18:59:21
        
        You mean Cullum (NCFC) - Sir Lurkalot, Mar 1, 19:05:08
        
        And we're not mortgaged to the hilt ourselves? (NCFC) - Dog, Mar 1, 19:06:28
        
        Agreed - just saying Cullum's not interested (NCFC) - Sir Lurkalot, Mar 1, 19:10:40
        
        Here we go again (NCFC) - Bryan Salad Surgery, Mar 1, 19:10:04
        
        The same as the club did. (NCFC) - Dog, Mar 1, 19:11:37
        
        Well they declared the value of the assets (NCFC) - Bryan Salad Surgery, Mar 1, 19:14:58
        
        I remember our debt being declared as ?20m (NCFC) - Dog, Mar 1, 19:16:34
        
        You have got it completely wrong (NCFC) - Bryan Salad Surgery, Mar 1, 19:20:10
        
        Ok... (NCFC) - Dog, Mar 1, 19:21:58
        
        Because the debt has to be repaid on a change of control (NCFC) - Bryan Salad Surgery, Mar 1, 19:32:46
    - ok not wanting to be funny but how does delia actually leave? (NCFC) - grimsbycanary3, Mar 1, 18:53:17
      - We had someone willing to do it. (NCFC) - Dog, Mar 1, 18:56:56
        
        we didnt though did we (NCFC) - grimsbycanary3, Mar 1, 19:00:22
        
        Is our current board willing to pay off ?20m debt in one fail swoop? (NCFC) - Dog, Mar 1, 19:03:26
        
        sorry i dont get your point? (NCFC) - grimsbycanary3, Mar 1, 19:05:54
        
        Well if our current board won't/can't pay off our debt in one instances... (NCFC) - Dog, Mar 1, 19:08:05
        
        Because those are the terms of the loans (n/m) (NCFC) - Bryan Salad Surgery, Mar 1, 19:13:37
        
        So just another thing the board has cocked up... (NCFC) - Dog, Mar 1, 19:14:51
        
        yep it is but not sure thats the arguement here (n/m) (NCFC) - grimsbycanary3, Mar 1, 19:19:12
        
        We're all allowed to be facetious. (n/m) (NCFC) - Dog, Mar 1, 19:20:02
        
        because the accounts say that the debt will be called in in full (NCFC) - grimsbycanary3, Mar 1, 19:10:51
        
        fell* sorry. (n/m) (NCFC) - Dog, Mar 1, 19:03:36
      - Be interesting to see if you get an answer to that (NCFC) - Bryan Salad Surgery, Mar 1, 18:54:51
        
        Well I used to say things like this about Roeder, and who would come in and do better (NCFC) - pants, Mar 1, 18:58:04
        
        The difference is... (NCFC) - Dog, Mar 1, 19:02:21
        
        the managers have been pretty well backed with money (NCFC) - Charles21, Mar 1, 19:12:05
        
        Chicken or Egg (NCFC) - Dog, Mar 1, 19:13:48
        
        All clubs appoint managers who fail (NCFC) - Charles21, Mar 1, 19:22:16
        
        I know that. (NCFC) - Dog, Mar 1, 19:24:56
        
        agreed (n/m) (NCFC) - Charles21, Mar 1, 19:27:51
        
        What the fuck has that got to do with anything? (n/m) (NCFC) - Bryan Salad Surgery, Mar 1, 19:00:56
        
        Cos all I got was bleating (NCFC) - pants, Mar 1, 19:06:14
        
        It was a rhetorical question (NCFC) - Bryan Salad Surgery, Mar 1, 19:11:18
- someone is going to* (n/m) (NCFC) - grimsbycanary3, Mar 1, 18:45:35
  - Debt can be renegotiated as proven by Ipswich (NCFC) - Ben, Mar 1, 18:55:00
    - Not now - AXA would take the opportunity to get their mioney back. (NCFC) - Sir Lurkalot, Mar 1, 19:07:50
    - well we dont actually know the exact position of the clubs finances (NCFC) - grimsbycanary3, Mar 1, 18:58:41
    - Can it? (NCFC) - Bryan Salad Surgery, Mar 1, 18:56:54
      - It has nothing to do with the financial climate (NCFC) - Ben, Mar 1, 19:02:50
        
        The ONLY assets? (NCFC) - dublinspants, Mar 1, 19:53:43
        
        What it has to do with (NCFC) - Bryan Salad Surgery, Mar 1, 19:06:48

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