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  • #16
    Originally posted by CroydonCaptainJack View Post

    I don't think The Times has understood it correctly to be honest. That is a very misleading headline. The £17m plus £3m fine of £20m compares to the £46m fine we got so that is a good result. The loan swap is just the shareholders way of paying for it. I don't understand why they have lumped that into the equation. I could be wrong though and assuming the official announcement will follow from us that should clarify it.
    Yep nothing to get excited about untill the club confirms what's going to occur

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    • #17
      Originally posted by corbray View Post
      glad its all sorted out finally!!! 17m over a decade is fantastic for us and more fair than a crippling 40m fine.

      this is why we had to fight it, some people suggested we just pay it outright but this deal is brilliant for us
      We didn't succeed in fighting it. What we did was successfully plead for the owners to take the burden of the fine.

      Between the club and the owners we have lost £40m.

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      • #18
        Does the £1.7m per year for the next ten years get excluded from any future FFP calculations?

        having this resolved now and knowing that there is a transfer embargo in January will hopefully mean that they ensure that youngsters like Eze and Smyth sign new contracts now and bring in a couple of player before the season starts.

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        • #19
          Good news. Looks the same as the leaked press release to me. £17m fine plus £3m EFL legal costs.

          The Times sensationalism is one way of looking at it. The owners will lose the rights to £21.96m of money the club owes them. This is to be met by giving them more shares in the club, so that could be seen as an additional cost to the owners in addition to the £17m fine and £3m costs.

          I don't see the loan swap can pay the fine. The money is already lent to the club and presumably needed to avoid borrowing from the Bank, if indeed any bank would be prepared to lend the club that sort of money.

          The interest Ruben can get away with stinging the club for suggests Banks would say no thank you to lending the money. I just hope the loans on which the 24% interest accrues is part of the loan swap.

          Not sure how the annual £2m fine instalment will work though. Is it excluded from FFP calculations (I'd imagine so), but where will the money to pay it come from? More shareholders loans?

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          • #20
            So we can sign players now AT LAST ,we need to move very fast now,time running out

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            • #21
              Originally posted by klonk View Post
              Looks the same to me... £17m spread over 10 years is a bit of a result in my view.

              worth remembering that we can still sign players on frees when there is an embargo if we have less than 24 players aged 21 and over who have started less than 5 competitive games (league or cup)... just limted to wages of £12k a week.
              Thanks for this. Do you know if the embargo covers loans? Not sure they are strictly a transfer (of ownership). More like renting a house rather than buying it?

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              • #22
                Now that there seems to be a conclusion to this affair would we be more attractive for investors or even a full buy out?

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                • #23
                  Originally posted by Undecided View Post
                  Good news. Looks the same as the leaked press release to me. £17m fine plus £3m EFL legal costs.

                  The Times sensationalism is one way of looking at it. The owners will lose the rights to £21.96m of money the club owes them. This is to be met by giving them more shares in the club, so that could be seen as an additional cost to the owners in addition to the £17m fine and £3m costs.

                  I don't see the loan swap can pay the fine. The money is already lent to the club and presumably needed to avoid borrowing from the Bank, if indeed any bank would be prepared to lend the club that sort of money.

                  The interest Ruben can get away with stinging the club for suggests Banks would say no thank you to lending the money. I just hope the loans on which the 24% interest accrues is part of the loan swap.

                  Not sure how the annual £2m fine instalment will work though. Is it excluded from FFP calculations (I'd imagine so), but where will the money to pay it come from? More shareholders loans?
                  How does the equity shares work?

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                  • #24
                    Originally posted by Rebel R's View Post
                    So we can sign players now AT LAST ,we need to move very fast now,time running out
                    Don't forget we're still under the constraints of the ongoing FFP restrictions.

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                    • #25
                      so transfer embargo, well we really need to get our finger out if we intend to bring people in which I doubt we'll do, but there's always the loan market which is where I think we'll end up

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                      • #26
                        Originally posted by OldR View Post

                        How does the equity shares work?
                        You know that 5 grand you lent Bert so he could buy that ropey old motor? Well, he won't be paying it back to you, but he's going to share the ownership of it with you.

                        Its a crude comparison, but I hope you get the gist.

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                        • #27
                          Originally posted by OldR View Post

                          How does the equity shares work?
                          check out the financial sticky.

                          The key issue though is whether the share issue takes care of Ruben's crippling interest rates as well as the loan. Again, more in the sticky.

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                          • #28
                            The way I read it is the only thing affecting the playing side is the one window embargo next January (free transfers still allowed subject to conditions) was it last January window we didn't bring anyone in? If so we have experience of it ! The actual cash and loan conversion is being shouldered by the owners so will not affect our accounts for running the club although the owners may not wish to fund player deals as their cash is going towards fine. Overall its not great but it could have been worse, onwards and upwards.
                            Preston here we come!!!!!!

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                            • #29
                              Donít see it as good news tbh. Having a transfer embargo Iím not bothered about as we donít buy anyone anyway. But the 10year period to pay the fine off is a perfect excuse for the board to carry on selling our best players for peanuts and buying free transfers . Then if anyone questions it. The old excuse of ďwe have to pay the fine off ď will be trotted out. Meanwhile other championship clubs do 15mil on 1 player but donít get no comebacks.

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                              • #30
                                Originally posted by QPR Rickson View Post
                                Donít see it as good news tbh. Having a transfer embargo Iím not bothered about as we donít buy anyone anyway. But the 10year period to pay the fine off is a perfect excuse for the board to carry on selling our best players for peanuts and buying free transfers . Then if anyone questions it. The old excuse of ďwe have to pay the fine off ď will be trotted out. Meanwhile other championship clubs do 15mil on 1 player but donít get no comebacks.
                                This is the most mixed up post I've read in a long time..

                                - It's not good news, but your not bothered about the embargo? I'd say this is a win, Jan is a tough window and to be honest it's a far better situation than the Summer window.
                                - The loan has to be paid off over ten years, whether it be now or the last day. The owners can sell the club with this debt, so either way it'll get sorted and probably yearly until the 10th year.
                                - Yes, I'd imagine next two years will be tough and players will be sold to pay off some of this, what did you expect? The Smithies sale probably paid the court fees.
                                - Other clubs are FOOOOOKED, so entirely up to them if they take the gamble. e.g. Villa, Shef Weds etc etc... If they can afford to spend and balance the books, then its within the regs, if not they get a fine.

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