Sacrifices need to be made.

[klonk]

I'm not sure it's quite as much as that? I thought it was approx 64 million in total but spread over four years?

Something like:

Year 1 = 24.5 (million)
Year 2 = 19.5
Year 3 = 9.5
Year 4 = 9.5

thought something similar to this too

[brightonr]

I work in Corporate Banking for a pretty big bank here in the US. I believe that was just an accounting trick writing off the 60MM in loans. Meaning they don't expect to collect on those loans and are put in non accrual. So not incurring interest. Just looking for principal back and doesn't necessarily mean they are even expecting regular principal payments on time. But, with the loan being from the main shareholders, they can still pull out dividends from the Cash flows the club generates to help pay down that debt. To me, just really means they aren't expecting interest payments back on the loans and they don't have to be paid back on a certain schedule.

UK accounting is different than US accounting so their could be differences in language and little rules that could be different making the situation different. I do know that if we as the bank write off a loan, that means we are not expecting to collect interest and are just hoping to get as much of the principal back as possible.

That's all well and good, but I don't think for a second that Kev was being serious.

[QprQpr]

I work in Corporate Banking for a pretty big bank here in the US. I believe that was just an accounting trick writing off the 60MM in loans. Meaning they don't expect to collect on those loans and are put in non accrual. So not incurring interest. Just looking for principal back and doesn't necessarily mean they are even expecting regular principal payments on time. But, with the loan being from the main shareholders, they can still pull out dividends from the Cash flows the club generates to help pay down that debt. To me, just really means they aren't expecting interest payments back on the loans and they don't have to be paid back on a certain schedule.

UK accounting is different than US accounting so their could be differences in language and little rules that could be different making the situation different. I do know that if we as the bank write off a loan, that means we are not expecting to collect interest and are just hoping to get as much of the principal back as possible.

It works pretty much the same over here, you get a certain amount you can draw as dividend tax free, after that limit is done all dividends are taxable. Shareholder / director loans are normally tricky to account for without a good reason. It's pretty much cooking the books for want of a better phrase.

[QPR1976]

I'm not sure it's quite as much as that? I thought it was approx 64 million in total but spread over four years?

Something like:

Year 1 = 24.5 (million)
Year 2 = 19.5
Year 3 = 9.5
Year 4 = 9.5

Correct.
And Green was never on £50k a week since he joined us !
He joined for LESS than WHU were paying him which was widely reported as £45k a week.
Since then he signed a new contract, whch includes a relegation clause which virtually halves his wage. So about £25k tops. Still good for his age.