Kieran Maguire statement..

[claretdj]

Burnley borrow money from Luxembourg source mortgaged/secured over Turf Moor, other club properties & assets but excludes money from Premier League. Just been posted by Kieran Maguire, anything to worry about?

[Nonayforever]

Not as long as we are able to pay it back. It would work exactly the same as any other mortgage.
However, if we do get relegated and don't come back up, then yes, something to worry about.

[Burnley1989]

Burnley borrow money from Luxembourg source mortgaged/secured over Turf Moor, other club properties & assets but excludes money from Premier League. Just been posted by Kieran Maguire, anything to worry about?

A few years ago I’d have hated this but the way footballs gone it just seems to be the norm now and I try to just ignore it. We were always likely to be borrowing money from every
Avenue, if you look back at Dyches time, I guess you could say having little money to spend meant you had to make the most of what you had and didn’t waste as much as we seem to have done over the last 6 months.

Sad but I literally don’t care anymore about the debt, I don’t feel one way or another.

[CoolClaret]

If I've said it once I'll say it a million times.

I am extremely uneasy with the leverage ALK are putting on BFC.

They've already got their money back (and more), I won't rush to hyperbole here but I hope this could get cleaned up with some more understanding asap.

[CharlieinNewMexico]

Kieran Maguire literally positioned so much in the past that turned up not to be true? I’d give his supposed details a big, ******* swerve, personally

[Newcastleclaret93]

We all know the finances are dodgy, I suspect there loans from everywhere funding the summer we just had.

Just got to hope it doesn’t end in tears (I suspect it will but would love to be proven wrong)

[RVclaret]

Already been discussed on this thread

http://www.uptheclarets.com/messageboar ... 1#p2254563

[Woodleyclaret]

Directors and their dealings are a fact of modern football.Alsn Pace is an astute operator who is attempting to develop our team.Previously,we had some in charge who saw profits first and our team last.

[CoolClaret]

Directors and their dealings are a fact of modern football.Alsn Pace is an astute operator who is attempting to develop our team.Previously,we had some in charge who saw profits first and our team last.

Laughable.

[Burnley Ace]

Directors and their dealings are a fact of modern football.Alsn Pace is an astute operator who is attempting to develop our team.Previously,we had some in charge who saw profits first and our team last.

He is developing the team to make a profit. They are investors.

[Newcastleclaret93]

Directors and their dealings are a fact of modern football.Alsn Pace is an astute operator who is attempting to develop our team.Previously,we had some in charge who saw profits first and our team last.

Haha it’s funny the last owners have been considerably more successful and done more for the club then isn’t it

[Winstonswhite]

If I've said it once I'll say it a million times.

I am extremely uneasy with the leverage ALK are putting on BFC.

They've already got their money back (and more), I won't rush to hyperbole here but I hope this could get cleaned up with some more understanding asap.

You say "theyve" already got there money back- How much have they taken out of the club so far?

[CoolClaret]

You say "theyve" already got there money back- How much have they taken out of the club so far?

I don't have precise figures -

The Athletic reported some dividend fee a while back - which btw I have no issue with dividends for a well ran club for investors/board.

What I have issue with is the approach of leveraging the club with this level of risk/debt whilst making more money than they bought the club for, whilst the club is still stretching the finances.

[gandhisflipflop]

Here we go again. *sigh*

[getbennyon]

More debt, more debt and more debt would be the best way to describe the club since the Pace regime took power.

Some can't accept the future(unless there are rainbows and gold) but it's obvious how all of this will play out.

[Nori1958]

More debt, more debt and more debt would be the best way to describe the club since the Pace regime took power.

Some can't accept the future(unless there are rainbows and gold) but it's obvious how all of this will play out.

Is it more debt, or the same debt being taken on at more favourable rates?

[claretonthecoast1882]

I love finance posts on here.

People with no idea about finance posting their views is never not amusing

[Winstonswhite]

I don't have precise figures -

The Athletic reported some dividend fee a while back - which btw I have no issue with dividends for a well ran club for investors/board.

What I have issue with is the approach of leveraging the club with this level of risk/debt whilst making more money than they bought the club for, whilst the club is still stretching the finances.

I'm confused. First you stated that they've already got their money back, which suggests all the money they've invested has been returned to them. And now you're saying that they've paid themselves dividends but you don't have precise figures.

So, in nutshell you have no idea, but that doesn't appear to stop you posting lies.

[ClaretLoup]

Directors and their dealings are a fact of modern football.Alsn Pace is an astute operator who is attempting to develop our team.

So astute he offered Dyche a four year contract and then sacked him 6 months later.

[CoolClaret]

I'm confused. First you stated that they've already got their money back, which suggests all the money they've invested has been returned to them. And now you're saying that they've paid themselves dividends but you don't have precise figures.

So, in nutshell you have no idea, but that doesn't appear to stop you posting lies.

I'm sure if you want to go digging there's some athletic article that reported all this, the amount of money ALK as a collective put up for the buyout was only around £15 mill

Certainly not posting lies but whatever.

It's strange how ones pointing out their dislike of investors leveraging a lot of risk on the club get scorned... yet the ones doing it don't.

[CoolClaret]

He might have been thinking what Watford owners may have done he seems to get the 2 clubs mixed up a bit. Let's be grateful though he is just making things up now rather than making borderline racist comments towards them which sadly seem allowed on here.

'Borderline racist' for using the word Yank is just nonsense.

Not sure how many times I have to explain 'Watford type' - meant it as being a bit of a sanitised, soulless club but deliberately keep misrepresenting the point.

What am I making up?

[beeholeclaret]

Directors and their dealings are a fact of modern football.Alsn Pace is an astute operator who is attempting to develop our team.Previously,we had some in charge who saw profits first and our team last.

I agree with your comment about directors and modern football. In my opinion I believe the previous owners oversaw the growth and stability of our club which has led to a period of Premier League football unseen previously at Burnley. We also qualified for Europe and developed the trading complex at Gawthorpe. Their partnership with Dyche worked well until the last few years when they realised the funding required to maintain Premier League wages and structure was beyond their budget. At that point they decided to sell and the relationship with Dyche was soured. We know it didn’t end well but who on here wouldn’t want the best price from sale of their assets?

[Winstonswhite]

I'm sure if you want to go digging there's some athletic article that reported all this, the amount of money ALK as a collective put up for the buyout was only around £15 mill

Certainly not posting lies but whatever.

It's strange how ones pointing out their dislike of investors leveraging a lot of risk on the club get scorned... yet the ones doing it don't.

There's not a supporter in the land that likes leveraged buyouts. But I'm sure you agree, when people start making stuff up to suit their agenda, then it has to be pulled up.

[Newcastleclaret93]

If Yank is borderline racist then is the word Brits?

[CoolClaret]

There's not a supporter in the land that likes leveraged buyouts. But I'm sure you agree, when people start making stuff up to suit their agenda, then it has to be pulled up.

What 'agenda'?

Wanting the absolute best for the long-term health of the Club? Again not making anything up.

[claretonthecoast1882]

What 'agenda'?

Wanting the absolute best for the long-term health of the Club? Again not making anything up.

And if everyone watched the clubs games on illegal streams how would that be good for the clubs long term health ?

Would the club benefit more from people attending games or watching on tv for free

[Vegas Claret]

there are people on the MMT that are far smarter and knowledgeable than 99.9% of us when it comes to the financial workings of the club and they are seemingly concerned about certain 'behaviors' demonstrated by the owners/club. It's something we should all be concerned about but I'm not sure if bashing the owners as of now is valid. I'm also not sure it's true to say people are 'making things up' but they are trying to take an educated guess........educated guesses can often be wrong though.

[agreenwood]

I don’t think the word “Yank” is necessarily racist, but if people keep citing nationality in commentary on actions, then there’s clearly some stereotyping going on. In the same way there’s an element of stereotyping when ALK’s religion is frequently brought into conversations about their running of our club.

It’s pretty clear that a fair few Burnley fans think ALK don’t “get it” or “get us” or act in a certain way because they are “yanks”. That might well meet the definition of racism.

[NewClaret]

So astute he offered Dyche a four year contract and then sacked him 6 months later.

If you’re referring to this being a bad judgement because of the financial consequences (pretty sure we were all celebrating the decision on football grounds at the time), just to point out, the contract length is not relevant in regards to any compensation due. This will be defined separately in the contract and of course we will never know those details.

But it most likely will have been limited and probably to the period until he joined Everton.

[CoolClaret]

And if everyone watched the clubs games on illegal streams how would that be good for the clubs long term health ?

Would the club benefit more from people attending games or watching on tv for free

Happy to email my receipts over whenever just let me know

[CoolClaret]

I don’t think the word “Yank” is necessarily racist, but if people keep citing nationality in commentary on actions, then there’s clearly some stereotyping going on. In the same way there’s an element of stereotyping when ALK’s religion is frequently brought into conversations about their running of our club.

It’s pretty clear that a fair few Burnley fans think ALK don’t “get it” or “get us” or act in a certain way because they are “yanks”. That might well meet the definition of racism.

There is a stereotype with American takeovers in UK/Euro businesses because this sort of thing happens a lot.

It's not just in sports per say but like I've posted on here before it's very much an American model.

Pointing this out is just calling a spade a spade and is absolutely nothing against Americans as people - though I do appreciate that my remarks in the past have been a bit inflamatory and not needed.

[jrgbfc]

Here we go again. *sigh*

So people aren't allowed to be concerned about the long term direction their club is going?

[Boss Hogg]

Directors and their dealings are a fact of modern football.Alsn Pace is an astute operator who is attempting to develop our team.Previously,we had some in charge who saw profits first and our team last.

We’ve gone from one extreme to the other. Not spending a penny of the clubs money on the team to line personal pockets to leveraging anything and shelling out crazy amounts of money. Some borrowing is fine but I do not like the idea of this one bit. We are probably spending more than we’ve ever spent in fees. Wages to players, management team and directors. Hopefully will all come good but we could have had the same outcome on the pitch this season by spending a whole load less. A few seasons n the Champ could put us in serious trouble.

[Goliath]

How do the plan to pay off these debts if we have 1 or 2 bad seasons in the Champ and dont go back up. Seems to me they are gambling completely on having PL money and exposure