As I understand it the “debt” is internal to other ME companies so isn’t real

It is used in order to keep net revenues low at the scum by paying “interest” at a non commercial rate so it is easy for it to be wiped out. He will have other ways to manipulate his balance sheet.

I know of a start up that was financed by a US pension fund in another industry. They aren’t in it for the long term. Once they could get a profit they wanted out.

It is easy for Evans to sell the scum as a “distressed” asset which has potential for a quick return (throw a few million dollars at it, get it promoted to the championship find a rich Arab to flog it to “with potential to reach premier league as it has a winning mentality” for £100m - job done). If it all goes wrong they can probably sell off the assets (two/three reasonable players will repay capital) and wait for the next mug to come along to buy the club from them (probably a fan consortium).

The players, management and fans are simply a commodity that can be exploited.

I don’t wish the scum any success but equally now that there is that gap between us I don’t actually wish them to disappear either.

Posted By: biffbro on February 26th 2021 at 16:06:20

Message Thread

Ah, I see Ipswich are getting rid of Marcus Evans and appointing a decent manager (n/m) (Other Football) - jAC, Feb 26, 14:24:05
- As I understand it the “debt” is internal to other ME companies so isn’t real (Other Football) - biffbro, Feb 26, 16:06:20
- How much is it going to cost to sack Lambert? (Other Football) - Trent_Canary, Feb 26, 15:51:28
  - Yeah,it'll be his last job for a while too. (n/m) (Other Football) - protheroe fitzgibbon, Feb 26, 15:55:37
- Yeah looks interesting. Debt wiped off. (n/m) (Other Football) - Yellalee, Feb 26, 14:46:37
  - If Evans wipes out 100+ million of debt then fair play to the fella (Other Football) - BSE Canary, Feb 26, 14:55:56
    - What do you mean about HMRC? Don't think it would cause a tax charge for ITFC (Other Football) - SimonOTBC, Feb 26, 14:59:51
      - And....does it actually say the debt would be wiped out? (Other Football) - SimonOTBC, Feb 26, 15:01:00
        
        Even with the debt wiped out that’s a lot for a league 1 club (Other Football) - Duck, Feb 26, 15:02:47
        
        Probably why ME did the deal. (Other Football) - usacanary, Feb 26, 16:34:08
        
        That's why I thought possibly they're buying the debt too (Other Football) - SimonOTBC, Feb 26, 15:06:08
        
        How dodgy does this sound (Other Football) - Duck, Feb 26, 15:17:06
        
        quite normal. (Other Football) - usacanary, Feb 26, 16:30:22
        
        Jesus,they've ripped off local businesses and if this fails they're nicking people's p (n/m) (Other Football) - protheroe fitzgibbon, Feb 26, 15:23:55
        
        Nah...that's up to the pension fund (Other Football) - SimonOTBC, Feb 26, 15:31:27
        
        This is how it normally works. (Other Football) - usacanary, Feb 26, 18:41:10
        
        Yes but they haven't got many saleable assets atm,so I'd (Other Football) - protheroe fitzgibbon, Feb 26, 15:38:21
        
        Not dodgy, but does suggest they'll be after a return on investment (Other Football) - SimonOTBC, Feb 26, 15:22:14
    - Yep (n/m) (Other Football) - jamesward, Feb 26, 14:56:34

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.