NewClaret wrote: ↑Mon Dec 18, 2023 12:04 am
Quite possibly.
But regardless, £88m or £168m are incredible sums of money that at least give question to whether any net debt exists at all. But staggers me that fans talk about debt as if it’s fact when actually we know very little about it, other than, if any does exist, it’s not secured on the club so somebody is taking a huge risk (and therefore must be pretty comfortable with the plans).
Obviously things are pretty opaque due to the non-filing at Kettering and Calder Vale (which is very curious) and the lag in accounts filing.
So far as we are aware, Calder Vale (i.e. ALK) owed the football club £115m.
As at around May 2023, the football club also had external debt of ~ £40m.
This was probably, although not definitively, with Macquarie with Turf Moor, Gawthorpe, etc as security. There is also a further loan facility against future premier league TV money.
It appears that a few months back £88m went into Kettering Capital through a share issue and this was then used to fund a share issue in Calder Vale of the same amount. There is no suggestion either way whether this amount then went into the football club.
There was then a share issue in Velocity Sports (UK) of ~ £80m. Maybe this was new money, maybe this was from Calder Vale. There is no suggestion either way whether this amount then went into the football club.
Recently, the ownership switched from Calder Vale to Velocity Sports (UK), still the same ultimate owner so it is unclear why this is happening.
It is possible that £168m has gone into the club, the loan with Calder Vale has been paid off and the external loan has been paid off. I would be surprised if that was the case.
It is also possible that £80m has gone into the club to fund something.
It is also possible that no further money has gone into the club (which is more in line with the fact that the loan was refinanced with a UK lender and a loan facility was agreed with charges over the club's assets).
when actually we know very little about it, other than, if any does exist, it’s not secured on the club so somebody is taking a huge risk (and therefore must be pretty comfortable with the plans). I'm not sure why you think we know this. There are definitely charges over the club's assets, it just isn't clear what loan they relate to.