foreveryoung Posted June 7, 2018 Share Posted June 7, 2018 Sent from a Blooser mate. 1 1 Link to comment Share on other sites More sharing options...
Risso Posted June 7, 2018 Share Posted June 7, 2018 36 minutes ago, Jareth said: Other major fact of the day, which if correct is HUGE - thanks to @Deisler123 - Recon have taken out a loan 2 days ago for £50million GBP - yes that's right, UK money, which if accurate tells us that Tony can keep the club going at least for another 2 years. You'd think the papers might try to verify that, but it's possibly not sensational enough for them. As for the likes of Matt Scott, predicting administration and financial mismanagement, and claiming massive journalistic scoops on the back of being fed info by bitter old Wyness - well yes there have been risks taken (thanks Wyness also), but as it stands, all bills have been paid. I get the feeling there isn't much to see here and the coup has run out of steam. In the last published accounts to May 2017, there was a loan from the parent company in China for £49m, that was repayable within one year. If the news about the £50m loan is true, is it not likely that they've just extended the time limit to pay this back rather than getting new cash? It's hard to see how they've put any collateral up to support a loan of that magnitude in the UK, when there's nothing left to back it. It's hard to see a UK lender accepting Chinese assets as backing under the current circumstances. Link to comment Share on other sites More sharing options...
Popular Post Pimlico_Villa Posted June 7, 2018 Popular Post Share Posted June 7, 2018 Presumably, Recon can then funnel that money into Villa as Corporations aren't as restricted as individuals when it comes to investing outside of China. Xia can then service that loan from the cash he has in China by funnelling his money into Recon and therefore keeping it in China. Basically, using Recon as an intermediary to legitimately get cash from Xia into Villa, just means the cost of doing so is the interest paid to the Bank. If Xia is willing to do that, then I see that as testament to his honest intentions. Yes, he could have structured all of this more efficiently, but can't doubt his intentions based on these actions. 6 Link to comment Share on other sites More sharing options...
JAMAICAN-VILLAN Posted June 7, 2018 Share Posted June 7, 2018 So as someone else alluded to. It has begun to look like because of our lack of profit/promotion etc. Wyness was not able to line his pockets how he had hoped, so stabbed the owner in the back to set up another deal which would undoubtedly secure him a windfall and then some. Not necessarily because we were/are "doomed". 1 Link to comment Share on other sites More sharing options...
omariqy Posted June 7, 2018 Share Posted June 7, 2018 Link to comment Share on other sites More sharing options...
Pimlico_Villa Posted June 7, 2018 Share Posted June 7, 2018 4 minutes ago, foreveryoung said: Sent from a Blooser mate. Sorry for being thick, but I don't get it? Link to comment Share on other sites More sharing options...
Villarocker Posted June 7, 2018 Share Posted June 7, 2018 13 minutes ago, Deisler123 said: 1) we don't know for sure that the £50m loan will be used to support Villa. However, considering the fact that the board meeting was held the same day when the saga emerged, it is highly likely so. It is possible that, soon after Xia received confirmation from the board, he acted to suspend Wyness. Then the unpaid tax thing emerged. Today the club confirmed that the tax bill is no longer a concern, which may be a sign of Xia having already found some money to resolve this (at least partially). 2) Getting £50m cash loan is not easy. £50m is the upper limit over two years. So quite possibly, if 1) is true, then Xia will try to get loan to fill the gap (tax bill and wages) first over the summer, and attempt to sell players to break even. I don't think we need £50m now to survive, mostly likely around 3-4m cash investment per month, before the income on the transfer market, if any. £50m may well be Xia's own worst-case scenario estimation of how much he will need to get the club going over the next two years. How much he needs to "get" the club going or "keep" the club going? 1 Link to comment Share on other sites More sharing options...
Pimlico_Villa Posted June 7, 2018 Share Posted June 7, 2018 1 minute ago, omariqy said: Looks like yet another Company being set up. Might be to receive the £50M loan. Makes sense as the loan would not want to be further down the pecking order from other creditors, which it would be if it was made to the existing company Link to comment Share on other sites More sharing options...
Risso Posted June 7, 2018 Share Posted June 7, 2018 (edited) Have just seen this on Companies House: Would seem to suggest new shares allotted, and therefore some capital incoming. Be interesting to see what when the document actually appears. Edited June 7, 2018 by Risso 1 Link to comment Share on other sites More sharing options...
Deisler123 Posted June 7, 2018 Share Posted June 7, 2018 4 minutes ago, Risso said: In the last published accounts to May 2017, there was a loan from the parent company in China for £49m, that was repayable within one year. If the news about the £50m loan is true, is it not likely that they've just extended the time limit to pay this back rather than getting new cash? It's hard to see how they've put any collateral up to support a loan of that magnitude in the UK, when there's nothing left to back it. It's hard to see a UK lender accepting Chinese assets as backing under the current circumstances. Let me clarify if what I mentioned before was unclear - the 50m is the maximum amount Xia's satellite company can loan over the future two years. These loan will be from Chinese banks (apparently) and will be backed up by the mother company (i.e. the one on the stock market). Link to comment Share on other sites More sharing options...
hippo Posted June 7, 2018 Share Posted June 7, 2018 6 minutes ago, Pimlico_Villa said: Sorry for being thick, but I don't get it? Brassic - no cash - skint ! 1 Link to comment Share on other sites More sharing options...
hippo Posted June 7, 2018 Share Posted June 7, 2018 8 minutes ago, omariqy said: Weve sold Mccormacks dodgy gate ! Link to comment Share on other sites More sharing options...
Pimlico_Villa Posted June 7, 2018 Share Posted June 7, 2018 2 minutes ago, hippo said: Brassic - no cash - skint ! Thanks! Link to comment Share on other sites More sharing options...
JAMAICAN-VILLAN Posted June 7, 2018 Share Posted June 7, 2018 10 minutes ago, Pimlico_Villa said: Sorry for being thick, but I don't get it? Nor me Link to comment Share on other sites More sharing options...
Rob182 Posted June 7, 2018 Share Posted June 7, 2018 27 minutes ago, rodders0223 said: That isn't debt, that it wages, just because they have come to an end doesn't clear any of the debt already incurred. Wages was one of the three things that I mentioned in the post you quoted What are these ongoing and never-ending debts then? A 50-year loan that we have taken out? I can't imagine what these extortionate running costs are that will be outweighing player wages and transfer fees. Link to comment Share on other sites More sharing options...
tonyh29 Posted June 7, 2018 Share Posted June 7, 2018 48 minutes ago, Risso said: Have just seen this on Companies House: Would seem to suggest new shares allotted, and therefore some capital incoming. Be interesting to see what when the document actually appears. Ellis buying back in as a shareholder is my guess Link to comment Share on other sites More sharing options...
omariqy Posted June 7, 2018 Share Posted June 7, 2018 Imagine the scenes - Randy Lerner sees the news, cries for Villa, his love for Villa consumes him and he decides to buy Villa back from Xia. Link to comment Share on other sites More sharing options...
stewiek2 Posted June 7, 2018 Share Posted June 7, 2018 Is he trying to do a Ken Bates here? ie set up a new company and shift assets across and straddle the old company with the debts then wind up the old company? Afterall Trevor Birch is apparently involved now and he'd know such shenanigans. Link to comment Share on other sites More sharing options...
flashingqwerty Posted June 7, 2018 VT Supporter Share Posted June 7, 2018 18 hours ago, TRO said: Every Cloud has a silver lining.....I think maybe a change of direction has been forced on us and all could be for the better in due curse......The lord moves in mysterious ways. " Do you want to bet against us"? freudian slip? Link to comment Share on other sites More sharing options...
John Posted June 7, 2018 Share Posted June 7, 2018 1 hour ago, foreveryoung said: Sent from a Blooser mate. That's a bit like the pot calling the kettle black. When did the knuckle draggers find two ha'pnnies to run together then? Link to comment Share on other sites More sharing options...
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