Vive_La_Villa Posted June 12, 2018 Share Posted June 12, 2018 1 hour ago, hippo said: Here is your answer. I think he brought villa with a loan - now he has owned for 2 years those repayments kick in - probably at very high interest rates. Wyness was asked to raise funds NOW - so he outsourced the catering and probably other stuff - we are mortgaged to the hilt ! Not a finance person though so its just a theory at the moment. If he bought Villa with a loan how on earth did he pass the fit and proper test let alone bypass FFP? The football league should also be made accountable for letting this happen. They are so eager to punish clubs that break their rules. Why are they are allowed to not apply the rules correctly in the first place to the detriment of a club their stupid rules are suppose to protect! What a complete farce the whole thing is. 3 Link to comment Share on other sites More sharing options...
lexicon Posted June 12, 2018 Share Posted June 12, 2018 1 minute ago, Vive_La_Villa said: If he bought Villa with a loan how on earth did he pass the fit and proper test let alone bypass FFP? The football league should also be made accountable for letting this happen. They are so eager to punish clubs that break their rules. Why are they are allowed to not apply the rules correctly in the first place to the detriment of a club their stupid rules are suppose to protect! What a complete farce the whole thing is. Letting what happen? This is a crackpot theory ffs, not anything remotely based in reality or fact. The amount of nonsense I've read in the past week or so ffs. 1 Link to comment Share on other sites More sharing options...
Vive_La_Villa Posted June 12, 2018 Share Posted June 12, 2018 8 minutes ago, lexicon said: Letting what happen? This is a crackpot theory ffs, not anything remotely based in reality or fact. The amount of nonsense I've read in the past week or so ffs. I know. That’s why I said if. Its still a mess regardless of how you look at it. Link to comment Share on other sites More sharing options...
villa89 Posted June 12, 2018 Share Posted June 12, 2018 12 minutes ago, Vive_La_Villa said: If he bought Villa with a loan how on earth did he pass the fit and proper test let alone bypass FFP? The football league should also be made accountable for letting this happen. They are so eager to punish clubs that break their rules. Why are they are allowed to not apply the rules correctly in the first place to the detriment of a club their stupid rules are suppose to protect! What a complete farce the whole thing is. Nobody knows if he bought the club with a loan. It's just speculation on an internet forum. Link to comment Share on other sites More sharing options...
dukes Posted June 12, 2018 Share Posted June 12, 2018 (edited) Interesting to note all these documents/resolutions lodged at companies house were signed on 25th May 2018...doesn't that mean they have nothing to do with us not getting promoted ? Meaning they are not a solution to the financial shortfall ? Edited June 12, 2018 by dukes Link to comment Share on other sites More sharing options...
hippo Posted June 12, 2018 Share Posted June 12, 2018 30 minutes ago, lexicon said: Letting what happen? This is a crackpot theory ffs, not anything remotely based in reality or fact. The amount of nonsense I've read in the past week or so ffs. I did say it was only a theory - and qualified it further as I am not from a finance background. However why is Xia buying villa with borrowed money such a crackpot theory ? I could be wrong but I am sure other clubs have had ropey owners who passed the leagues test. Link to comment Share on other sites More sharing options...
dukes Posted June 12, 2018 Share Posted June 12, 2018 In relation to Wyness, I assume the claim for constructive dismissal will be linked to these changes to his service contract ? It all seems a little odd, as the sections referred to 215 - 217 all involve payments due upon loss of office. 215 Payments for loss of office 216 Amounts taken to be payments for loss of office 217 Payment by company: requirement of members’ approval Stupid question: Wouldn't he also have had to agree to these changes ? Link to comment Share on other sites More sharing options...
sidcow Posted June 12, 2018 VT Supporter Share Posted June 12, 2018 36 minutes ago, Vive_La_Villa said: If he bought Villa with a loan how on earth did he pass the fit and proper test let alone bypass FFP? The football league should also be made accountable for letting this happen. They are so eager to punish clubs that break their rules. Why are they are allowed to not apply the rules correctly in the first place to the detriment of a club their stupid rules are suppose to protect! What a complete farce the whole thing is. There is NOTHING wrong or against the rules of buying a club with a loan. The vast majority of businesses are bought with loans. The FFP rules only check if someone is a criminal or has got their money through criminal activities, which we can all assume he proved. 1 Link to comment Share on other sites More sharing options...
ViewFromT2 Posted June 12, 2018 Share Posted June 12, 2018 2 hours ago, omariqy said: So it seems Wyness contract was varied the day before the playoff final on the 25th. Jeez. If they have removed the restriction that means the expect new investment/buyers to come in? Something just occurred to me (most likely occurred to others ages ago....forgive me).....but if all of the stuff appearing now on companies house, the resoltions etc were created in May, then clearly it isn't down to us losing the playoff final is it? I was under the assumption that everything hit the fan because we never got promoted, but is it merely coincidence? Xia signed it on 25 May, presumably after arriving back in the UK for the playoff final, but whatever they entail, it was all agreed ahead of that date....or have I got it totally wrong? Link to comment Share on other sites More sharing options...
JAMAICAN-VILLAN Posted June 12, 2018 Share Posted June 12, 2018 (edited) Someone has posted a document on Facebook which apparently indicates that the Club applied to remove Keith Wyness a few days before the playoff final. It would also back up another reputable fan I spoke to who referenced that the relationship had been deteriorating for a while, and Tony was pissed because he wanted to pull the trigger on Bruce some time ago and Wyness stopped him, among other things obviously. Basically watched it all crumble. lol EDIT: Here Have zero clue what this is related to. Edited June 12, 2018 by JAMAICAN-VILLAN Link to comment Share on other sites More sharing options...
omariqy Posted June 12, 2018 Share Posted June 12, 2018 6 minutes ago, ViewFromT2 said: Something just occurred to me (most likely occurred to others ages ago....forgive me).....but if all of the stuff appearing now on companies house, the resoltions etc were created in May, then clearly it isn't down to us losing the playoff final is it? I was under the assumption that everything hit the fan because we never got promoted, but is it merely coincidence? Xia signed it on 25 May, presumably after arriving back in the UK for the playoff final, but whatever they entail, it was all agreed ahead of that date....or have I got it totally wrong? These cashflow issues would have been there regardless of being promoted or not. We just would have had more future revenue to leverage against. Link to comment Share on other sites More sharing options...
hippo Posted June 12, 2018 Share Posted June 12, 2018 (edited) 10 minutes ago, ViewFromT2 said: Something just occurred to me (most likely occurred to others ages ago....forgive me).....but if all of the stuff appearing now on companies house, the resoltions etc were created in May, then clearly it isn't down to us losing the playoff final is it? I was under the assumption that everything hit the fan because we never got promoted, but is it merely coincidence? Xia signed it on 25 May, presumably after arriving back in the UK for the playoff final, but whatever they entail, it was all agreed ahead of that date....or have I got it totally wrong? We had to pay Lerner a good wedge if we got promoted - I think we would have still have had cash issues even if we had won that match. And the TV money doesn't kick in until the end of the season so wouldn't be available in the short term Edited June 12, 2018 by hippo Link to comment Share on other sites More sharing options...
ViewFromT2 Posted June 12, 2018 Share Posted June 12, 2018 4 minutes ago, omariqy said: These cashflow issues would have been there regardless of being promoted or not. We just would have had more future revenue to leverage against. So it's only down to cashflow? sorry if this is the question of a dunderhead....but I'm not business savvy. What exactly do these resolutions mean? have we issued shares or are we now in a position to do so? Does any of it mean we are now likely to be sold? Link to comment Share on other sites More sharing options...
Popular Post delboy54 Posted June 12, 2018 Popular Post Share Posted June 12, 2018 When the day comes that we ever get new owner, these are some of the things I would sooner him/her not do: 1. On the first time they visit Villa Park see a home game they are introduced to the crowd and walk on the hallowed turf. 2. Have a "sit by me" competition 3. Want adoration to stoke their ego 4. Have a twitter account 5. Pretend to be a celebrity ---------------------------------- When the day comes that we ever get new owner, these are some of the things I would like him/her to do: 1. Keep a low profile 2. Employ trustworthy people. 3. Experienced in the world of business 4. Good contacts in the football world 5. Not afraid of trying something new 6. Watch as many Villa matches as possible Regards to all 5 Link to comment Share on other sites More sharing options...
TreeVillan Posted June 12, 2018 Share Posted June 12, 2018 4 hours ago, omariqy said: It's still £15m too high for a Championship club. The main issue for me is the debt. We've apparently mortgaged a lot of our assets and have taken out further loans. Surely any prudent buyer would wait for us to go into administration before buying? He responded to the lie that our wage bill is spiralling, which it isn't. Link to comment Share on other sites More sharing options...
omariqy Posted June 12, 2018 Share Posted June 12, 2018 15 minutes ago, TreeVillan said: He responded to the lie that our wage bill is spiralling, which it isn't. Should this have been a DM to someone? Spiralling is probably the wrong choice of wording I just meant it's not sustainable. 2 Link to comment Share on other sites More sharing options...
Vive_La_Villa Posted June 12, 2018 Share Posted June 12, 2018 1 hour ago, sidcow said: There is NOTHING wrong or against the rules of buying a club with a loan. The vast majority of businesses are bought with loans. The FFP rules only check if someone is a criminal or has got their money through criminal activities, which we can all assume he proved. True. It just seems odd how the club can be aquired with 100% debt but an owner is not allowed to invest in the club even if using his own money. Im probably just misunderstanding how it works. Link to comment Share on other sites More sharing options...
TheEgo Posted June 12, 2018 Share Posted June 12, 2018 2 hours ago, sidcow said: So we were told that these documents on companies house were really key, and once they appeared on Companies House we would actually understand what is happening. Does anyone understand what they actually mean? What they imply might be happening? Well one is a change to Wyness service contract, so something to do with his job role and what he can and can't do as a director. So maybe offered a new refined role is one example. I'd guess at removing his ability to take the club into receivership (as he could have as CEO) other one is removing the restriction on shares/ No actual shares raised, just the restriction to do so. You need shareholder approval, so given the shareholders are Xia's parent company he's gone that route and we are now able to seek investment OR sell. So the options as I see them. 1. the 30m investment being reported by the B Mail. This makes little sense to me unless, 2. Investment with a share of the club and a place on the board by an interested party (in buying) they get to take a close look at the club from the inside. This would be a preemptive move to a sale. 3. We are up for sale, that simple. Share restriction removed to cover small investment or a total sale. 1 1 Link to comment Share on other sites More sharing options...
hippo Posted June 12, 2018 Share Posted June 12, 2018 2 minutes ago, TheEgo said: Well one is a change to Wyness service contract, so something to do with his job role and what he can and can't do as a director. So maybe offered a new refined role is one example. I'd guess at removing his ability to take the club into receivership (as he could have as CEO) other one is removing the restriction on shares/ No actual shares raised, just the restriction to do so. You need shareholder approval, so given the shareholders are Xia's parent company he's gone that route and we are now able to seek investment OR sell. So the options as I see them. 1. the 30m investment being reported by the B Mail. This makes little sense to me unless, 2. Investment with a share of the club and a place on the board by an interested party (in buying) they get to take a close look at the club from the inside. This would be a preemptive move to a sale. 3. We are up for sale, that simple. Share restriction removed to cover small investment or a total sale. I think if we gets out that weed need £30m just too exist - people will take the sale of Grealish less harsh. Link to comment Share on other sites More sharing options...
TheEgo Posted June 12, 2018 Share Posted June 12, 2018 2 hours ago, Vive_La_Villa said: If he bought Villa with a loan how on earth did he pass the fit and proper test let alone bypass FFP? The football league should also be made accountable for letting this happen. They are so eager to punish clubs that break their rules. Why are they are allowed to not apply the rules correctly in the first place to the detriment of a club their stupid rules are suppose to protect! What a complete farce the whole thing is. He didn't 'technically' buy villa with a loan. He used the proceeds of a sale to fund it (a sale in which he didn't wholly own the company, so there'll be other people's money involved) 1 Link to comment Share on other sites More sharing options...
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