yep, there's something not quite right about this

the bond issue in isolation may be a reasonable proposition - but its difficult to really trust the people issuing it (the board).

How have they not managed to safeguard the funding of the academy sufficiently in the last 8 years, despite all the Prem money? And how have they managed to accrue such a poor credit rating that they can't get a relatively modest loan from a bank at reasonable rates? I suppose though that it's easy to default to a bunch of fans than to a bank - so the risk is lower I guess.

And, like you said, on the other hand there is some slightly shady history regarding previous bond and share issues. If we get relegated and are in financial difficulty, who gets repaid first (or at all): the board member with 500k invested, or the fan with 10k invested?

If the owners can't fund the club themselves, and can't get a loan at a reasonable rate, because of their poor credit history, then the financial security of the club is always going to be on a knife edge. Because things like relegation, having a poor transfer window and dwindling ticket sales are constant possibilities and can carry a very real financial burden. They really should be looking to pass the club on to more suitable owners at this point in time.

Posted By: Mecagoenti on March 9th 2018 at 10:10:08

Message Thread

This bond malarky (NCFC) - Jim, Mar 9, 09:24:08
- yep, there's something not quite right about this (NCFC) - Mecagoenti, Mar 9, 10:10:08
  - even with a good credit rating (and it's wrong to automatically assume we haven't got one) (NCFC) - Ralf Scrampton, Mar 9, 10:59:32
    - damned sight cheaper than this route (NCFC) - CWC, Mar 9, 11:17:45
      - good point about Tifosy's fees professional fees etc. (n/m) (NCFC) - Ralf Scrampton, Mar 9, 11:41:03
    - Actually I think (NCFC) - Clairvoyant Creosote, Mar 9, 11:13:08
      - oh, ok (NCFC) - Ralf Scrampton, Mar 9, 11:42:09
  - Didn’t McNasty decide that all the money we made from being in the Prem (NCFC) - strap_on sally, Mar 9, 10:25:18
    - Yep, at least in the last Prem season that's certainly the case (NCFC) - Mecagoenti, Mar 9, 10:39:29
      - Yes ... great post this (n/m) (NCFC) - Gob on a Stick, Mar 9, 20:13:29
      - This ^^^ (n/m) (NCFC) - loz, Mar 9, 10:44:19
    - He did but that still doesn’t address the foulger issue... (NCFC) - loz, Mar 9, 10:33:13
- Tifosy (who they?) say (NCFC) - Clairvoyant Creosote, Mar 9, 09:44:29
  - they also say they are going to flog your personal data to all and sundry (NCFC) - CWC, Mar 9, 11:30:33
- Point 2 reference the rebate means I will never invest in my club again apart from (NCFC) - berstreetsfinest, Mar 9, 09:33:38
  - I agree (NCFC) - Ghost Ship Belly, Mar 9, 09:46:25
  - Shocking that club haven’t been properly taken to task on this point (n/m) (NCFC) - loz, Mar 9, 09:35:16
- All valid points (n/m) (NCFC) - loz, Mar 9, 09:30:28
- Ps £3.5 million was a pittance when we were in the prem (NCFC) - Jim, Mar 9, 09:28:42

Reply to Message

In order to add a post to the WotB Message Board you must be a registered WotB user.

If you are not yet registered then please visit the registration page. You should ensure that their browser is setup to accept cookies.