ALK Capital or Farnell/Elkashashy takeover

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Chester Perry » Thu Feb 01, 2024 12:43 pm

aggi wrote:
Thu Feb 01, 2024 12:22 pm
They said "clear our debts" which I assume is referring to the football club's debts, not ALK's debts to the club.
Simon appeared focussed on the walk away at nil cost/obligation. The club's debts, whatever the reason for coming into being are the club's and future buyer's responsibility. The repayment of the £115m would enable the club to clear those debts and return itself to its early December 2020 cash holding

ALK could equally walk away at break even with a £75m - £85m payment and a new owner taking over the debt to the club.

it comes down to how you interpret what was asked and this is how I interpreted it.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by aggi » Thu Feb 01, 2024 2:42 pm

Chester Perry wrote:
Thu Feb 01, 2024 12:43 pm
Simon appeared focussed on the walk away at nil cost/obligation. The club's debts, whatever the reason for coming into being are the club's and future buyer's responsibility. The repayment of the £115m would enable the club to clear those debts and return itself to its early December 2020 cash holding

ALK could equally walk away at break even with a £75m - £85m payment and a new owner taking over the debt to the club.

it comes down to how you interpret what was asked and this is how I interpreted it.
I think this is probably where we're differing. That cash amount is never going to come back when there's an exit.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Chester Perry » Thu Feb 01, 2024 4:09 pm

aggi wrote:
Thu Feb 01, 2024 2:42 pm
I think this is probably where we're differing. That cash amount is never going to come back when there's an exit.
I agree with that

so going back to your interpretation of what Simon asked, then we have:

- £75m - £85m spent on buying shares
plus
- Whatever the debt is to MGG + Macquarie (could be £0) + what is outstanding with the lender from November 2022 (again could now be £0). Which all equals an unknown until the accounts are released, though the best way to erase this external debt in a takeover would be via a repayment of the Debt ALK/VSL owe the club).

none of which includes the likely £9m - £10m Vladimir Torgovnik has spent on his shares, which we assume he bought directly from Mike Garlick/John Banaszkiewicz but may have actually bought from ALK/VSL - depending on the wording of the ringfence agreement of October 2021.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by bfc8 » Thu Feb 01, 2024 4:30 pm

The takeover just over 3 years ago, £170m for 84%, valued club at £202m.
Financed largely by borrowing, think even the ALK 'own' sum c£15m was borrowed, from a separate source.
So let's say £202m was ALK £15m, ALK borrowing club+bank £155m, 16% other shares £32m.
Since then believe ALK have edged up from 84% to over 90%, have the right to buy the rest if they wish.
Other events last 3 years may also have an impact...

But basically bfc floating on the £202m financing something like the above, some lenders have changed.
Sold for less, someone loses money.
Sold for more, someone gains money.

But lots of blanks need filling in...

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Chester Perry » Thu Feb 01, 2024 4:50 pm

bfc8 wrote:
Thu Feb 01, 2024 4:30 pm
The takeover just over 3 years ago, £170m for 84%, valued club at £202m.
Financed largely by borrowing, think even the ALK 'own' sum c£15m was borrowed, from a separate source.
So let's say £202m was ALK £15m, ALK borrowing club+bank £155m, 16% other shares £32m.
Since then believe ALK have edged up from 84% to over 90%, have the right to buy the rest if they wish.
Other events last 3 years may also have an impact...

But basically bfc floating on the £202m financing something like the above, some lenders have changed.
Sold for less, someone loses money.
Sold for more, someone gains money.

But lots of blanks need filling in...
there has only ever been trace of £10m down from ALK, however it was sourced (the rest could have been spent in various fees, but that has never been publicly disclosed, there were definitely bills that had to be paid to several different legal and advisory groups).

there are several thousand shares that have never changed hands since prior to December 2020, there is a ringfence agreement still in place on around a third of them which expires in October

that is how i got my numbers with the stated caveats
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by bfc8 » Thu Feb 01, 2024 5:11 pm

^^^^
3 years of ALK.
Crunch could be within another 3 years.
Likely relegated this season, then parachute payments, bfc need to get back to PL fairly quickly for any chance of ALK or various lenders not losing money.
For them to actually make money, seems to me very difficult.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by aggi » Thu Feb 01, 2024 5:14 pm

bfc8 wrote:
Thu Feb 01, 2024 5:11 pm
^^^^
3 years of ALK.
Crunch could be within another 3 years.
Likely relegated this season, then parachute payments, bfc need to get back to PL fairly quickly for any chance of ALK or various lenders not losing money.
For them to actually make money, seems to me very difficult.
Stay in the Premier League and stay within FFP and they will have a very, very good chance of making money.

The challenge is obviously doing that.
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by bfc8 » Thu Feb 01, 2024 5:17 pm

aggi wrote:
Thu Feb 01, 2024 5:14 pm
Stay in the Premier League and stay within FFP and they will have a very, very good chance of making money.

The challenge is obviously doing that.
Fingers crossed all round.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Chester Perry » Thu Feb 01, 2024 5:42 pm

bfc8 wrote:
Thu Feb 01, 2024 5:11 pm
^^^^
3 years of ALK.
Crunch could be within another 3 years.
Likely relegated this season, then parachute payments, bfc need to get back to PL fairly quickly for any chance of ALK or various lenders not losing money.
For them to actually make money, seems to me very difficult.
If we look at the money that has apparently come into ALK/VSL over the last 18 months - the time they started paying for their own shares - including the additional sums that appears to be in Velocity Capital (UK) Holdings then it could be deduced that the original ALK group (Pace, Smith Hunt, Dewey, Edwards, Checketts and Dávila) may have already got their initial monies back, that is even more likely if they, as you suggest, borrowed their initial down payment.

For the newer members of that group, we do not know how much they have contributed or indeed what are their expectations in regards to a satisfactory return. though it is evident funds have been garnered from somewhere.

What we do know is that a yo-yo club similar to ours in the current market can sell for a value in excess of £120m, which means the walk away break even suggested is achievable now but much more challenging if we do not look able to return to the Premier League in 12 months time.

Not that I think ALK have the desire to walk away at this time and certainly not without a sizeable profit.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by bfc8 » Thu Feb 01, 2024 6:17 pm

^^^^
By my reckoning though various investors need £202m in total to breakeven.
That involves some remaining pre takeover shareholders, the club itself, and various external investors including maybe ALK themselves.
As you note in earlier posts the whole financial picture seems to be deliberately kept cloudy and banks/investors have come and gone and been replaced, but 'investors' old and new have a par figure of c£202m in total I would have thought.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by aggi » Thu Feb 01, 2024 6:46 pm

bfc8 wrote:
Thu Feb 01, 2024 6:17 pm
^^^^
By my reckoning though various investors need £202m in total to breakeven.
That involves some remaining pre takeover shareholders, the club itself, and various external investors including maybe ALK themselves.
As you note in earlier posts the whole financial picture seems to be deliberately kept cloudy and banks/investors have come and gone and been replaced, but 'investors' old and new have a par figure of c£202m in total I would have thought.
I'd say it's that figure (roughly, I can't remember the exact details) less the amounts that have come out of the club to fund the takeover (either the initial cash that came out or the element of the external loan that has been repaid).

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by bfc8 » Thu Feb 01, 2024 7:08 pm

^^^^
Amounts owed by group undertakings £102m, debtor in the bfc accounts to 31/7/2021.
None published since, as noted above.
Unclear whether any paid off since that date and if so source(s) of funds.
Assume c£202m includes c£102m owing to bfc, balance to investors old and new.

You suggest I think bfc may never get that money back as cash, remains to be seen I suppose.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by bfc8 » Tue Feb 06, 2024 12:08 am

^^^^
31/7/2022 debtor £114m, loans slightly lower than in 2021.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Vegas Claret » Tue Feb 06, 2024 4:35 am

bfc8 wrote:
Tue Feb 06, 2024 12:08 am
^^^^
31/7/2022 debtor £114m, loans slightly lower than in 2021.
not sure if this is the way you choose to reply or don't know about the quote function. Just in case you don't then to use it go to the three dots and choose 'quote'.
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Clive 1960 » Tue Feb 06, 2024 6:24 am

I'm just wondering if we fail to get promoted next season if we are relegated this season what are the implications if any the following year with the debt we have acquired could it be disastrous for a club of our size on and off the pitch...

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by FeedTheArf » Tue Feb 06, 2024 7:55 am

Clive 1960 wrote:
Tue Feb 06, 2024 6:24 am
I'm just wondering if we fail to get promoted next season if we are relegated this season what are the implications if any the following year with the debt we have acquired could it be disastrous for a club of our size on and off the pitch...
It could be disastrous, but it all depends on how quickly we bounce back. You'd expect us to have decent relegation clauses in terms of salary reductions. It's also likely we'd pay less out on fees as I'd imagine a lot of the additional payments will be contingent on us staying up. That said, we've probably paid more out in fees in the last 12 months than we have in the last 4 or 5 seasons combined.
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by aggi » Tue Feb 06, 2024 12:46 pm

Clive 1960 wrote:
Tue Feb 06, 2024 6:24 am
I'm just wondering if we fail to get promoted next season if we are relegated this season what are the implications if any the following year with the debt we have acquired could it be disastrous for a club of our size on and off the pitch...
I don't think one failed season would be too much of an issue. We'll have parachute payments, wages will probably be (relatively) reasonable and I'd imagine we'd sell a few players

The trouble will be if we continue to not get promoted, you need deep pockets to survive for any length of time in the championship.
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by ClaretPete001 » Tue Feb 06, 2024 10:23 pm

aggi wrote:
Tue Feb 06, 2024 12:46 pm
I don't think one failed season would be too much of an issue. We'll have parachute payments, wages will probably be (relatively) reasonable and I'd imagine we'd sell a few players

The trouble will be if we continue to not get promoted, you need deep pockets to survive for any length of time in the championship.
If we hadn't got promoted last season we would have had £20-30 million less parachute money. We'd have lost Tella, Beyer, THB and Maatsen with less money to replace.

Cork, Barnes and Jay Rod would have been 34 years old....

A board teetering on the edge with so much debt unless we had a very good start to the season.

While it's true we wouldn't have had financial issues in Year two it would have been exponentially harder to win promotion.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Chester Perry » Tue Feb 06, 2024 10:46 pm

ClaretPete001 wrote:
Tue Feb 06, 2024 10:23 pm
If we hadn't got promoted last season we would have had £20-30 million less parachute money. We'd have lost Tella, Beyer, THB and Maatsen with less money to replace.

Cork, Barnes and Jay Rod would have been 34 years old....

A board teetering on the edge with so much debt unless we had a very good start to the season.

While it's true we wouldn't have had financial issues in Year two it would have been exponentially harder to win promotion.
Pete

perhaps surprisingly the drop for parachute payments between years 1 and 2 is actually much less, in the last cycle (the Premier league has not published the current figures) it was roughly

year 1 £43m
year 2 £34m
year 3 £15m (for those that qualified)

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Goliath » Tue Feb 06, 2024 10:50 pm

ClaretPete001 wrote:
Tue Feb 06, 2024 10:23 pm
If we hadn't got promoted last season we would have had £20-30 million less parachute money. We'd have lost Tella, Beyer, THB and Maatsen with less money to replace.

Cork, Barnes and Jay Rod would have been 34 years old....

A board teetering on the edge with so much debt unless we had a very good start to the season.

While it's true we wouldn't have had financial issues in Year two it would have been exponentially harder to win promotion.
We probably would have got THB back, we had one of the beat left backs in thr Champ in reserve in Taylor and Foster with Obafemi/Jay rod as backup.
I think we would still have been in a pretty good position squad wise but it would have obviously have become more precarious each season financially.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by aggi » Tue Feb 06, 2024 11:40 pm

ClaretPete001 wrote:
Tue Feb 06, 2024 10:23 pm
If we hadn't got promoted last season we would have had £20-30 million less parachute money. We'd have lost Tella, Beyer, THB and Maatsen with less money to replace.

Cork, Barnes and Jay Rod would have been 34 years old....

A board teetering on the edge with so much debt unless we had a very good start to the season.

While it's true we wouldn't have had financial issues in Year two it would have been exponentially harder to win promotion.
I don't think losing loanees would be that huge an issue as you can replace them with more of the same. You'd also have the added benefit of a fairly young team getting a bit more experience.

Ultimately it's not ideal but it wouldn't be terrible and it is unlikely that it would be a big financial issue which was the original question.

If you still don't go up after year two though, that's when it begins to be a serious problem. Yo-yo clubs that stop yo-yoing can quickly suffer.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Vegas Claret » Wed Feb 07, 2024 5:17 am

ClaretPete001 wrote:
Tue Feb 06, 2024 10:23 pm
If we hadn't got promoted last season we would have had £20-30 million less parachute money. We'd have lost Tella, Beyer, THB and Maatsen with less money to replace.

Cork, Barnes and Jay Rod would have been 34 years old....

A board teetering on the edge with so much debt unless we had a very good start to the season.

While it's true we wouldn't have had financial issues in Year two it would have been exponentially harder to win promotion.
the bigger problem would have been Leeds, Leicester and Southampton being in the same division

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by forzagranata » Wed Feb 07, 2024 4:00 pm

Worth bearing in mind that there is quite a lot of political pressure for parachute payments to be reduced or even stopped in their current form.

Being a 'yo yo' club is going to be tougher if/when those changes kick in.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by randomclaret2 » Wed Feb 07, 2024 4:10 pm

Chester Perry wrote:
Tue Feb 06, 2024 10:46 pm
Pete

perhaps surprisingly the drop for parachute payments between years 1 and 2 is actually much less, in the last cycle (the Premier league has not published the current figures) it was roughly

year 1 £43m
year 2 £34m
year 3 £15m (for those that qualified)
Am I right in thinking that if and when we are relegated this season, we will only be eligible for a maximum of 2 years parachute payments, on the basis of only being in the PL for one season this time round ?

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Chester Perry » Wed Feb 07, 2024 4:28 pm

randomclaret2 wrote:
Wed Feb 07, 2024 4:10 pm
Am I right in thinking that if and when we are relegated this season, we will only be eligible for a maximum of 2 years parachute payments, on the basis of only being in the PL for one season this time round ?
yes
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Wokingclaret » Wed Feb 07, 2024 7:19 pm

Chester Perry wrote:
Wed Feb 07, 2024 4:28 pm
yes
Ohhhhhhhh

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by 123EasyasBFC » Wed Feb 07, 2024 7:21 pm

Very interesting that, only 2 seasons of parachute payments, would make going back up at the the first time of asking even more important than it was last season
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Wokingclaret » Wed Feb 07, 2024 7:24 pm

123EasyasBFC wrote:
Wed Feb 07, 2024 7:21 pm
Very interesting that, only 2 seasons of parachute payments, would make going back up at the the first time of asking even more important than it was last season
Max 2 year plan then, not 3. Severe cost cutting will be needed by the end of year 2

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by NewClaret » Wed Feb 07, 2024 7:36 pm

Wokingclaret wrote:
Wed Feb 07, 2024 7:24 pm
Max 2 year plan then, not 3. Severe cost cutting will be needed by the end of year 2
My big worry here is that we potentially go down with one of Forest and Everton this year, depending on points deductions, and in some horrific twist of bad luck, City - who knows when their case will be heard?

We really need to be ballsy and keep as many of our players as we can next year and go out for an immediate return.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Nori1958 » Wed Feb 07, 2024 7:54 pm

NewClaret wrote:
Wed Feb 07, 2024 7:36 pm
My big worry here is that we potentially go down with one of Forest and Everton this year, depending on points deductions, and in some horrific twist of bad luck, City - who knows when their case will be heard?

We really need to be ballsy and keep as many of our players as we can next year and go out for an immediate return.
I don't think City will go down this season, too many legal avenues to go down before any final decision in that one, plus if relegation was the decision, it would be more than a one league drop.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Chester Perry » Wed Feb 07, 2024 7:54 pm

Wokingclaret wrote:
Wed Feb 07, 2024 7:24 pm
Max 2 year plan then, not 3. Severe cost cutting will be needed by the end of year 2
A challenge given more or less everyone has been signed on 4 or 5 year contracts under the current manager with a few already having them extended

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Chester Perry » Wed Feb 07, 2024 7:56 pm

Nori1958 wrote:
Wed Feb 07, 2024 7:54 pm
I don't think City will go down this season, too many legal avenues to go down before any final decision in that one, plus if relegation was the decision, it would be more than a one league drop.
add to that that the hearing has more or less been confirmed as happening at the end of this year - so next season they start in the Premier League

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by DAVETHEVICAR » Wed Feb 07, 2024 8:03 pm

Can’t see any point deduction
Otherwise Championship will be stronger than Premier League in a year or two
Not rocket science

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by NewClaret » Wed Feb 07, 2024 8:09 pm

Chester Perry wrote:
Wed Feb 07, 2024 7:56 pm
add to that that the hearing has more or less been confirmed as happening at the end of this year - so next season they start in the Premier League
Fair enough, I didn’t think any date had been given.

But reinforces the need to go all in on an immediate return because one of the following year City will most likely be taking one of the promotion places.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by NewClaret » Wed Feb 07, 2024 8:14 pm

Nori1958 wrote:
Wed Feb 07, 2024 7:54 pm
I don't think City will go down this season, too many legal avenues to go down before any final decision in that one, plus if relegation was the decision, it would be more than a one league drop.
Not sure how the Premier League could issue a sanction to move a club down the EFL?

But hopefully you’re right that it won’t take effect this season and we’ll get at least a year at it without them.

I’m still worried about the other two joining us down there, although you’d expect both will be far more financially impacted than us in that event.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Nori1958 » Wed Feb 07, 2024 8:20 pm

NewClaret wrote:
Wed Feb 07, 2024 8:14 pm
Not sure how the Premier League could issue a sanction to move a club down the EFL?

But hopefully you’re right that it won’t take effect this season and we’ll get at least a year at it without them.

I’m still worried about the other two joining us down there, although you’d expect both will be far more financially impacted than us in that event.
I don't know the set up of the Scottish league system, but rangers dropped more than one league

I think forest would have to get rid of the big earners, Everton would be dependent on whether the takeover goes ahead or not.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Chester Perry » Wed Feb 07, 2024 8:41 pm

NewClaret wrote:
Wed Feb 07, 2024 8:14 pm
Not sure how the Premier League could issue a sanction to move a club down the EFL?

But hopefully you’re right that it won’t take effect this season and we’ll get at least a year at it without them.

I’m still worried about the other two joining us down there, although you’d expect both will be far more financially impacted than us in that event.
It depends on the punishment - if found guilty and an appeal fails

If it is a points deduction, then it is just possibly relegation and there are agreements in place and well established agreements that the EFL would take them into the Championship is how I read it

If it is an expulsion then the EFL can refuse to accept them or place them in whichever of their leagues it likes - theoretically that would be league 2, with an extra promotion at the same time occurring in Leagues 2 and 1.

The Scottish League is all under a single umbrella, which allowed them to relegate Rangers to the bottom tier

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by aggi » Wed Feb 07, 2024 8:55 pm

Nori1958 wrote:
Wed Feb 07, 2024 8:20 pm
I don't know the set up of the Scottish league system, but rangers dropped more than one league

I think forest would have to get rid of the big earners, Everton would be dependent on whether the takeover goes ahead or not.
Rangers was very different. They went bust and are technically a whole new club, hence starting near the bottom of the pyramid.
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Paul Waine » Wed Feb 07, 2024 9:33 pm

NewClaret wrote:
Wed Feb 07, 2024 7:36 pm
My big worry here is that we potentially go down with one of Forest and Everton this year, depending on points deductions, and in some horrific twist of bad luck, City - who knows when their case will be heard?

We really need to be ballsy and keep as many of our players as we can next year and go out for an immediate return.
Why one of Everton and Forest? If Forest get points deduction for FFP breach for 3 years to June 2023 then Everton will also get points deduction for this period, in addition to their existing 10 points deduction. If it's both of Forest and Everton down Sheffield United take the 3rd place.

Of course, I'm sure we'd all like the Clarets to finish 17th or better.

UTC

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Goliath » Wed Feb 07, 2024 10:00 pm

I just dont see this new board going down the cost cutting route if we dont go back up. I cant see them being happy to settle as a lower Champ club based on revenue.
That's what worries me about them, its all fine until we dont have parachute payments...then what?
We cant pay back debts, further debts are racked up and we end up down sh*t creek.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Chester Perry » Thu Feb 22, 2024 10:25 pm

Are they finally learning some of their obligations

ALK Capital Ltd manage to submit their Confirmation statement on time - for the first time (and as expected there is no change

https://find-and-update.company-informa ... ng-history

It is worth noting that Confirmation Statements for Kettering Capital Limited and Calder Vale Holdings Limited are also due by February 24th (Saturday) and they have never previously been filed on time.

Of course we still have the frankly ludicrous situation where neither Kettering Capital or Calder Vale Holdings have ever filed a financial report, with first and second financial reports now significantly overdue, despite Companies House removing first gazette notices raised over the failure to file accounts. One continues to wonder, following the promises to resolve the issue with immediacy and some 15 months after the appointment of auditors (which was the issue claimed to be the problem by an ALK spokesperson), if the accounts will ever be produced given the shadow that these entities may be dissolved before the year is out.
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by bfc8 » Fri Feb 23, 2024 9:33 am

First job for the regulator, insist clubs publish timely financial info in a format fans can understand.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Paul Waine » Fri Feb 23, 2024 10:10 am

bfc8 wrote:
Fri Feb 23, 2024 9:33 am
First job for the regulator, insist clubs publish timely financial info in a format fans can understand.
That's a tough one, bfc8. Are you expecting every fan to have accounting and corporate finance qualifications?

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Paul Waine » Fri Feb 23, 2024 10:30 am

Chester Perry wrote:
Thu Feb 22, 2024 10:25 pm
Are they finally learning some of their obligations

ALK Capital Ltd manage to submit their Confirmation statement on time - for the first time (and as expected there is no change

https://find-and-update.company-informa ... ng-history

It is worth noting that Confirmation Statements for Kettering Capital Limited and Calder Vale Holdings Limited are also due by February 24th (Saturday) and they have never previously been filed on time.

Of course we still have the frankly ludicrous situation where neither Kettering Capital or Calder Vale Holdings have ever filed a financial report, with first and second financial reports now significantly overdue, despite Companies House removing first gazette notices raised over the failure to file accounts. One continues to wonder, following the promises to resolve the issue with immediacy and some 15 months after the appointment of auditors (which was the issue claimed to be the problem by an ALK spokesperson), if the accounts will ever be produced given the shadow that these entities may be dissolved before the year is out.
Hi CP, wasn't the "appointment of new auditors" the explanation why BFC Holdings accounts for 2021/22 were delayed in delivery to EFL only - resulting in the transfer embargo while the transfer window was closed. BFC Holdings accounts were filed by 9 months deadline with Companies House, nevertheless.

I don't recall "appointment of new auditors" being stated as reason for non-filing of Calder Vale and Kettering Capital accounts at Companies House. Perhaps I'm mistaken. As Calder Vale and Kettering Capital haven't filed any accounts, did these companies ever have any "old auditors" that needed to be replaced by "appointment of new auditors" before these companies could file their accounts at Companies House?

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by bfc8 » Fri Feb 23, 2024 3:45 pm

Paul Waine wrote:
Fri Feb 23, 2024 10:10 am
That's a tough one, bfc8. Are you expecting every fan to have accounting and corporate finance qualifications?
No.
Looked at the bfc 44 page accounts again just now. Accept they have to be produced like that. But you need some finance training to understand and to tease out the really important bits. I used to do that back in the day. Insisted on an executive summary of that sort of thing, 'plain finances' I called it.
You could produce a few key figures about bfc.
Expenditure, income, profit/loss in a coherent form, the way it looks in the bfc accounts using the standard format is not as helpful as it could be.
Balance sheet, things like stadium value, money owed to others, money owing from others, cash in hand, etc and how the profit/loss for the year fits in.
All clear to accountants and could be made much clearer to lay people in a separate document.
I literally tend to aggregate the key figures on the back of a postcard until they make sense to me and can apply various what ifs to it. That could usefully be prepared by bfc and a fans article put in the programme or on the website.
Only thing is the current owners perhaps reluctant to say what they are doing. What they said in the preface to the accounts about paying down some debt and the net assets being among the highest ever was true, but not really the full picture !

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by ClaretPete001 » Fri Feb 23, 2024 9:03 pm

aggi wrote:
Tue Feb 06, 2024 11:40 pm
I don't think losing loanees would be that huge an issue as you can replace them with more of the same. You'd also have the added benefit of a fairly young team getting a bit more experience.

Ultimately it's not ideal but it wouldn't be terrible and it is unlikely that it would be a big financial issue which was the original question.

If you still don't go up after year two though, that's when it begins to be a serious problem. Yo-yo clubs that stop yo-yoing can quickly suffer.
Aggi I've been watching football for 50 years and aside from Chelsea and Abramovich the vast majority of that time anyone who effed about with their squad ended up paying the price.

What makes some teams win the Championship with over a 100 points and others fall through the floor can be a case of pure alchemy.

If you put your finger at the top of the Premier League and work your way down you've got Merseyside, Manchester and Birmingham down to Brighton then Newcastle, London and the West Midlands urban conurbation again.

You haven't got anywhere in the mix a small Lancashire club whose owners have snaffled a hundred million quid out of the bank accounts.

It's that banal really.
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Westleigh » Fri Feb 23, 2024 10:28 pm

ClaretPete001 wrote:
Fri Feb 23, 2024 9:03 pm
Aggi I've been watching football for 50 years and aside from Chelsea and Abramovich the vast majority of that time anyone who effed about with their squad ended up paying the price.

What makes some teams win the Championship with over a 100 points and others fall through the floor can be a case of pure alchemy.

If you put your finger at the top of the Premier League and work your way down you've got Merseyside, Manchester and Birmingham down to Brighton then Newcastle, London and the West Midlands urban conurbation again.

You haven't got anywhere in the mix a small Lancashire club whose owners have snaffled a hundred million quid out of the bank accounts.

It's that banal really.
I’m sure in the not too distant future one of the more pessimistic members of this forum will turn round to us and say “I told you so’

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Chester Perry » Mon Feb 26, 2024 9:45 pm

Deja vu
Kettering Capital Comapnies House 2024 02 26.png
Kettering Capital Comapnies House 2024 02 26.png (88.2 KiB) Viewed 900 times
Calder Vale Holdings Comapnies House 2024 02 26.png
Calder Vale Holdings Comapnies House 2024 02 26.png (89.38 KiB) Viewed 900 times

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Vegas Claret » Mon Feb 26, 2024 9:55 pm

NewClaret wrote:
Wed Feb 07, 2024 7:36 pm
My big worry here is that we potentially go down with one of Forest and Everton this year, depending on points deductions, and in some horrific twist of bad luck, City - who knows when their case will be heard?

We really need to be ballsy and keep as many of our players as we can next year and go out for an immediate return.
City won't get relegated this season or any other

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Westleigh » Mon Feb 26, 2024 11:08 pm

I would really like to know in the worst case scenario and the Americans pulled without servicing the debts what would happen to BFC ?

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