Robbie09 Posted January 26, 2021 Share Posted January 26, 2021 1 hour ago, OutByEaster? said: It seems from those excellent financial blogs that Trent linked to that relegation doesn't actually matter to their owners, and that having stands closed doesn't actually matter to their owners - for their owners all that matters is that there exists a 'Birmingham City Football Club' company so that it can be listed the Hong Kong stock exchange and be used as a dubious device for engineering profit and allowing borrowing from debt. How that company is actually performing in the real world is almost immaterial to the way in which they use the listing to generate finance - it could be in National league south and apparently it would make no difference to them. That might be the worst situation I've ever heard a football club to be in. Oh dear. When are the accounts due? This may explain their obsession with us. Small Heath are in a footballing coma, almost at the point where the life support machine should be switched off. The football under Karanka is about as dull as it gets.Their fans have nothing to look forward to apart from the hope that we may lose on match day. If it was any other club I’d pity the fans but those half wits are beyond pity. Someone needs to do the decent thing and pull the plug. 1 2 Link to comment Share on other sites More sharing options...
TrentVilla Posted January 26, 2021 Moderator Share Posted January 26, 2021 1 hour ago, OutByEaster? said: It seems from those excellent financial blogs that Trent linked to that relegation doesn't actually matter to their owners, and that having stands closed doesn't actually matter to their owners - for their owners all that matters is that there exists a 'Birmingham City Football Club' company so that it can be listed the Hong Kong stock exchange and be used as a dubious device for engineering profit and allowing borrowing from debt. How that company is actually performing in the real world is almost immaterial to the way in which they use the listing to generate finance - it could be in National league south and apparently it would make no difference to them. That might be the worst situation I've ever heard a football club to be in. Oh dear. When are the accounts due? It is some reading isn’t it. It doesn’t though entirely make sense, for example if the football performance doesn’t matter then why bring in Redknapp and spend a relative fortune? I think a more accurate way of putting it is that football performance isn’t the only benefit for their owners. In terms of accounts, they historically have been out early Jan but they have until end of March. I’d expect them to be in debt to the region of £90m and paying rent on the ground to the holding company that owns it so technically they are tenants just like Coventry. Link to comment Share on other sites More sharing options...
OutByEaster? Posted January 26, 2021 Moderator Share Posted January 26, 2021 23 minutes ago, TrentVilla said: In terms of accounts, they historically have been out early Jan but they have until end of March. I’d expect them to be in debt to the region of £90m and paying rent on the ground to the holding company that owns it so technically they are tenants just like Coventry. Their operating losses were £8-9m last year and that includes the sale of the ground - I'd imagine with the Covid loss of income they'll have an operating loss of £25m+. I reckon that debt will be up over £120m. The question will be what happens when their owners reach the limit of how much money they can lever out of the club on the HK stock exchange - at that point do they ditch it, sell it, break it up, close it down, declare it insolvent? It's hard to see an ending with any kind of future. Link to comment Share on other sites More sharing options...
TrentVilla Posted January 26, 2021 Moderator Share Posted January 26, 2021 Just now, OutByEaster? said: Their operating losses were £8-9m last year and that includes the sale of the ground - I'd imagine with the Covid loss of income they'll have an operating loss of £25m+. I reckon that debt will be up over £120m. The question will be what happens when their owners reach the limit of how much money they can lever out of the club on the HK stock exchange - at that point do they ditch it, sell it, break it up, close it down, declare it insolvent? It's hard to see an ending with any kind of future. I agree with that assessment on figures but it is hard to know how sale of Bellingham has impacted that and the effect of the money raised from share dilution so I was shaving a bit off. My initial figure would have been circa £125m debt and spending circa £1.50 for every £1 of revenue. On your point re what happens when the music stops well in the last accounts it stated that there is in effect no paperwork relating to the debt to the holding company. That means it could be called in at any time in full. It is a very very dangerous place they find themselves in. I’ve said before what happened with Wasps and Coventry could quite easily happen with Small Heath and Coventry although I don’t think the later have either the means or will to do so. I have been predicting they will go into administration for three years, right now if that is the worst that happens to them they will be very lucky. 1 Link to comment Share on other sites More sharing options...
useless Posted January 26, 2021 Share Posted January 26, 2021 I read that Almajir they aren't even going to receive the full transfer fee for Bellingham, as they've had to sell the future payments that they're owed in return for a immediate but lesser sum, just for the day to day running of the club, similar to what happened with us when Xia had to borrow money against the sales of Amavi and Veretout to keep us going. Link to comment Share on other sites More sharing options...
TrentVilla Posted January 26, 2021 Moderator Share Posted January 26, 2021 1 hour ago, useless said: I read that Almajir they aren't even going to receive the full transfer fee for Bellingham, as they've had to sell the future payments that they're owed in return for a immediate but lesser sum, just for the day to day running of the club, similar to what happened with us when Xia had to borrow money against the sales of Amavi and Veretout to keep us going. They have, in effect factoring the debt. That in itself isn’t particularly unusual or alarming in business or football clubs, it is a fairly common practice. Where that chnages is if that money is being used to keep the lights on. Link to comment Share on other sites More sharing options...
Follyfoot Posted January 26, 2021 VT Supporter Share Posted January 26, 2021 To condense the last 1069 pages There's a circus in the town................................................................. 1 3 Link to comment Share on other sites More sharing options...
Jimzk5 Posted January 26, 2021 Share Posted January 26, 2021 They've allowed kieftenbeld to leave for free so it saves them £300/350k on wages Considering how small heath fans rate him as one of their better players its must be very grim that they get rid to save in football terms a small amount of money Link to comment Share on other sites More sharing options...
Follyfoot Posted January 26, 2021 VT Supporter Share Posted January 26, 2021 (edited) 20 minutes ago, Jimzk5 said: They've allowed kieftenbeld to leave for free so it saves them £300/350k on wages Considering how small heath fans rate him as one of their better players its must be very grim that they get rid to save in football terms a small amount of money 'Erdo' Pete will be up in arms about it he inbred imbecile can not wait for the phone in Edited January 26, 2021 by Follyfoot Link to comment Share on other sites More sharing options...
turnbull Posted January 26, 2021 Share Posted January 26, 2021 3 hours ago, TrentVilla said: I agree with that assessment on figures but it is hard to know how sale of Bellingham has impacted that and the effect of the money raised from share dilution so I was shaving a bit off. My initial figure would have been circa £125m debt and spending circa £1.50 for every £1 of revenue. On your point re what happens when the music stops well in the last accounts it stated that there is in effect no paperwork relating to the debt to the holding company. That means it could be called in at any time in full. It is a very very dangerous place they find themselves in. I’ve said before what happened with Wasps and Coventry could quite easily happen with Small Heath and Coventry although I don’t think the later have either the means or will to do so. I have been predicting they will go into administration for three years, right now if that is the worst that happens to them they will be very lucky. I would laugh like a drain, maybe permanently, if Cov "did a Wasps" on the blose. Link to comment Share on other sites More sharing options...
TrentVilla Posted January 26, 2021 Moderator Share Posted January 26, 2021 1 hour ago, turnbull said: I would laugh like a drain, maybe permanently, if Cov "did a Wasps" on the blose. Seriously... could you just imagine it... 1 Link to comment Share on other sites More sharing options...
turnbull Posted January 26, 2021 Share Posted January 26, 2021 35 minutes ago, TrentVilla said: Seriously... could you just imagine it... Yarp. As a Villa and Wasps supporter, I'd be pretty chuffed. 3 Link to comment Share on other sites More sharing options...
TrentVilla Posted January 27, 2021 Moderator Share Posted January 27, 2021 Huge win for Rotherham. 1 1 1 Link to comment Share on other sites More sharing options...
mottaloo Posted January 27, 2021 Share Posted January 27, 2021 On 26/01/2021 at 18:28, turnbull said: Yarp. As a Villa and Wasps supporter, I'd be pretty chuffed. Good impersonation of an SHA moron there 1 3 Link to comment Share on other sites More sharing options...
Demitri_C Posted January 28, 2021 Share Posted January 28, 2021 Gap is 3 points from rotherham and they have 2 games in hand. Luckily for blose their next two are coventry and wycombe They will win one of them 1 Link to comment Share on other sites More sharing options...
TrentVilla Posted January 28, 2021 Moderator Share Posted January 28, 2021 1 hour ago, Demitri_C said: Gap is 3 points from rotherham and they have 2 games in hand. Luckily for blose their next two are coventry and wycombe They will win one of them Probably but they are looking over their shoulders now for sure, I think both Forest and Derby will climb above them. 1 Link to comment Share on other sites More sharing options...
Demitri_C Posted January 28, 2021 Share Posted January 28, 2021 12 minutes ago, TrentVilla said: Probably but they are looking over their shoulders now for sure, I think both Forest and Derby will climb above them. Hopefully. Its Sheffield wednesday that concerns me. They still far away. That bloody point deduction. How the hell blose got it mid season and not the following is a absolute scandal. They most certainly would go down if they started the season on -9 2 Link to comment Share on other sites More sharing options...
Amsterdam_Neil_D Posted January 28, 2021 Share Posted January 28, 2021 21 minutes ago, Demitri_C said: They still far away. So were Sheff Utd, anything is possible mate. Top half finish Villa and last minute relegation for small heath on the last day of the season, into Administration over the summer, start selling off some of their trophy's on ebay, some stand are closed permanently in the sty, they for get to pay the electric bill and cant start season is all I want. 3 Link to comment Share on other sites More sharing options...
SuperTed Posted January 28, 2021 Share Posted January 28, 2021 My Sister has an interview for Small Heath in their Human Resources department. Firstly, how do cabbages have a Human Resources department!?!? Secondly:- Link to comment Share on other sites More sharing options...
rodders0223 Posted January 28, 2021 Share Posted January 28, 2021 2 hours ago, Demitri_C said: Gap is 3 points from rotherham and they have 2 games in hand. Luckily for blose their next two are coventry and wycombe They will win one of them They will lose both then beat Bournemouth tbf. 1 Link to comment Share on other sites More sharing options...
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