Arabs - the right way to do it

[Caversham Green]

http://www.dundeeunitedfc.co.uk/index.asp?tm=2&nid=4722&cd=2014

United shed their bank debt without any creditors losing out. I'd like to see the other honourable clubs follow their lead.

[linlithgowhibbie]

So has the bank let them off with 3 million quid!!!!

[Caversham Green]

So has the bank let them off with 3 million quid!!!!

No, United fans have chipped in to pay off the bank loan - probably through debentures or similar. Possibly similar to FoH but missing out the bit where they steal the money from other people.

[Smartie]

I don't get it.

Do they........owe it to themselves????

[Caversham Green]

I don't get it.

Do they........owe it to themselves????

Up to a point, yes.

[Ozyhibby]

Good move by united. Bank gets their money back. Everyone's a winner.

[Gatecrasher]

Great news, hopefully we will be edging to something like that in the next few years. According to some people Scottish football is doomed apparently. :rolleyes:

[Ozyhibby]

Corresponding thread on kickback claims we are 'seething' about this. Can someone show me where all this seethe is happening?

[The_Todd]

Corresponding thread on kickback claims we are 'seething' about this. Can someone show me where all this seethe is happening?

Yup, we're all congratulating United, therefore we're "seething". I suspect it has something to do with low literacy levels on Kickback.

[Weststandwanab]

I don't get it.

Do they........owe it to themselves???? Yes.


Good move by united. Bank gets their money back. Everyone's a winner. A better deal for the Bank.


Corresponding thread on kickback claims we are 'seething' about this. Can someone show me where all this seethe is happening? I am delighted for United - no seethe here

[nribs]

From jokeback


Posted Today, 10:53
Hibs and Aberdeen could potentially find themselves in real trouble in the coming years....growing debt and no way of reducing it.

[Peevemor]

From jokeback

Just... Wow!

[Ozyhibby]

They seem to be a bit unhappy about it themselves but are veering themselves up that it leaves only Us and Aberdeen standing on the precipice of financial oblivion.

[tamig]

http://www.dundeeunitedfc.co.uk/index.asp?tm=2&nid=4722&cd=2014

United shed their bank debt without any creditors losing out. I'd like to see the other honourable clubs follow their lead.
I believe it's very similar to the deal MJ has pulled off with BoS at Killie.

[nribs]

:confused:
Just... Wow!

[SaulGoodman]

:confused:

He's referring to the yams in your quote

[Geo_1875]

Looks like FoH have been usurped by DUFC as the biggest fans movement and won't be in a position to #createhistory.

[The_Todd]

From jokeback

The Yams are desperately trying to paint everyone else as being in a bad financial way for some reason, some sort of "it's not just us" nonsense. Sadly for them, it is just them. Laughable, really.

[Peevemor]

:confused:

Don't be confused. I'm simply astonished that a yam would have the cheek to comment on our finances.

[The_Todd]

Don't be confused. I'm simply astonished that a yam would have the cheek to comment on our finances.

A bit like the village drunk going into a wine bar and telling the first geezer he sees that they have a drinking problem. And then promptly vomiting all over themselves.

[SaulGoodman]

A bit like the village drunk going into a wine bar and telling the first geezer he sees that they have a drinking problem. And then promptly vomiting all over themselves.

:hilarious

"Yous are all going bust, big team big cup 1902 hobos"

Vomits, then passes out

[Lendo]

The Yams are desperately trying to paint everyone else as being in a bad financial way for some reason, some sort of "it's not just us" nonsense. Sadly for them, it is just them. Laughable, really.

Won't be just them when The Rangers collapse again (hopefully)

[nribs]

Don't be confused. I'm simply astonished that a yam would have the cheek to comment on our finances.

Ah sorry, deluded each and every one of them

[Hibbyradge]

I'm raging and seething and cringing with rage and seethe at this.

Am I right in thinking Hibs debt reduced again last season?

[JeMeSouviens]

No, United fans have chipped in to pay off the bank loan - probably through debentures or similar. Possibly similar to FoH but missing out the bit where they steal the money from other people.

Also missing the bit where they expect to get paid back by a large mob of potless muppets. United's debt isn't gone, they just don't owe it to the bank. Not a dissimilar situation to our own?

[Ozyhibby]

I'm raging and seething and cringing with rage and seethe at this.

Am I right in thinking Hibs debt reduced again last season?

Correct. By £900,000.00

[Bronson]

Correct. By £900,000.00

But the Real Romanov account on twitter said we're a ticking time bomb of financial meltdown:dunno:

[Gus Fring]

Hearts fans have an endemic misunderstanding of how finance works. They think that because we are not turning a huge profit means there is no money left over to service our debt when in reality the reason we are not turning over a huge profit is because we are servicing our debt.

I'm delighted for Dundee United. This is a good thing for all parties involved. :thumbsup:

[Hibercelona]

I'm absolutely seething about this! :grr:

Here we are in 2014 and still in debt. And all we have to show for it is a completed stadium, our very own training complex, arguably the best manager in the league and a few quality signings.

Oh, what i'd do to be in Hearts position right now. :boo hoo:

[greenginger]

Have any Yams even thought how much a new main stand will cost, never mind a whole new stadium as the PBS does not satisfy UEFA regulations.

Out of interest does any other top league team have a pitch and surrounds that don't make the grade and will the SPFL ever insist on these regs. for the top league.

Also the Riccarton training facilities. Are they being demolished to make way for the Sports Excellence Centre ? One things for sure they won't be getting back in the door when they are complete, so do they build their own or use public parks etc.

[Jones28]

From jokeback

Keep dreaming guys, let us know when you arrive back from your alternate reality.

[Bostonhibby]

I'm raging and seething and cringing with rage and seethe at this.

Am I right in thinking Hibs debt reduced again last season?

Our accounts are published for all to see, distributed to shareholders and are happily certified on an unqualified basis by the accountants. They tick all of the SFA/SPFL boxes, always have, HMRC find no irregularities in them and we have no debts to them or civil actions outstanding as a result - all of this is the exact opposite of the previous yam position.

The fact that the information is openly out there means that if any one of them had been use to seeing how a business like a football club is required to function they would be able to comprehend it.

One last point, when referring to "debt" having an operational liability on your accounts is not a huge problem especially if like Hibs you have assets that substantially outweigh it, your creditors happily trade with you on a normal basis because they understand you are solvent, oh, and you actually pay them. Still lets not let the hard numbers get in the way of a good story

[Hibstrooper]

I'm so seething at this, I'm going to go into Tesco and stop people from buying tangerines

[Kato]

Our accounts are published for all to see, distributed to shareholders and are happily certified on an unqualified basis by the accountants. They tick all of the SFA/SPFL boxes, always have, HMRC find no irregularities in them and we have no debts to them or civil actions outstanding as a result - all of this is the exact opposite of the previous yam position.

The fact that the information is openly out there means that if any one of them had been use to seeing how a business like a football club is required to function they would be able to comprehend it.

One last point, when referring to "debt" having an operational liability on your accounts is not a huge problem especially if like Hibs you have assets that substantially outweigh it, your creditors happily trade with you on a normal basis because they understand you are solvent, oh, and you actually pay them. Still lets not let the hard numbers get in the way of mental illness bordering on rampant hysteria


good post, fixed it a wee tad

[blackpoolhibs]

I'm seething that we were up to our neck in debt around 19m at one stage if my memory is right? And to get that down to a mortgaged debt of around £6m from building a new stadium and training centre, has left me seething to the bone.

I cant see us making the new season.

[NadeAteMyLunch!]

Can't believe how much I'm seething about this. Just poured all my orange juice down the sink in protest.

Are there are a bigger bunch of financial numbskulls in the history of the universe than the Hearts fans? Kickback is an absolute Microcosm of utter stupidity. Jambos, if you want to know what Microcosm means then just google it. Google is spelt G-O-O-G-L-E. Whilst your at it, try and search the difference between sustainable debt, loan repayments and just out and out cheating. Careful your brains don't explode

[Greenblood70]

How about you just FOAD ya Hertz tramps.

Good news for Dundee Utd, the future seems fairly bright for them with the impressive crop of young players they have.

[Ringothedog]

I am absolutely seething that DUFC have had the audacity to restructure their £3m debt in fit and proper way. Why don't all clubs do it the "Hearts Way" and shaft everybody ?:grr:

I have now got to the stage where I do not listen to anything the yam bams have got to say. They have the brain cell capacity of an amoeba and spout as much crap as an elephant with diarrhoea. They are imho a total and utter embarrassment of a club with joke fans

[_hucks_]

How have Utd actually done this? Good on them, but I don't understand what has happened to the outstanding bank debt.

[CropleyWasGod]

How have Utd actually done this? Good on them, but I don't understand what has happened to the outstanding bank debt.

It's been converted, as CG says, to a different form of debt.

The press release isn't clear but the likelihood is that supporters have taken on a large chunk themselves, through debentures (effectively, long-term loans) and other external funders.

The debt hasn't disapppeared, it's just been restructured.

[HiBremian]

It's been converted, as CG says, to a different form of debt.

The press release isn't clear but the likelihood is that supporters have taken on a large chunk themselves, through debentures (effectively, long-term loans) and other external funders.

The debt hasn't disapppeared, it's just been restructured.

Is this something Hibs have/are looking at? I realise our current debt is easily serviced, and that banks can offer a degree of flexibility that other forms of borrowing can't. But the idea of fans taking on a small proportion of overall debt as a way of lowering interest charges to the club would be helpful all round, no? Or has the Tache got the banks by the goolies and negotiated 1% interest rates :-) ?


Sent from my iPad using Tapatalk

[CropleyWasGod]

Is this something Hibs have/are looking at? I realise our current debt is easily serviced, and that banks can offer a degree of flexibility that other forms of borrowing can't. But the idea of fans taking on a small proportion of overall debt as a way of lowering interest charges to the club would be helpful all round, no? Or has the Tache got the banks by the goolies and negotiated 1% interest rates :-) ?


Sent from my iPad using Tapatalk

I suspect that we have looked at it, but don't know for certain.

I also think that, due to STF's influence, we will be getting decent rates on the loans. And, as you say, there is flexibility; the loans can be repaid at any time, and can be extended if need be. Debentures tend to be much more strict in their repayment terms.

Also, debenture-holders want a return. That's either (or both of) an interest rate and/or "benefits" such as a cheap ST and the like. The costs of those to the club might outweigh any money saved.

(edit. If Rod announces a debenture scheme on Monday morning, this post has to be deleted.:greengrin)

[HiBremian]

I suspect that we have looked at it, but don't know for certain.

I also think that, due to STF's influence, we will be getting decent rates on the loans. And, as you say, there is flexibility; the loans can be repaid at any time, and can be extended if need be. Debentures tend to be much more strict in their repayment terms.

Also, debenture-holders want a return. That's either (or both of) an interest rate and/or "benefits" such as a cheap ST and the like. The costs of those to the club might outweigh any money saved.

(edit. If Rod announces a debenture scheme on Monday morning, this post has to be deleted.:greengrin)

Sure I read elsewhere on .net that STF had got good rates too, CWG.


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[jdships]

It's been converted, as CG says, to a different form of debt.

The press release isn't clear but the likelihood is that supporters have taken on a large chunk themselves, through debentures (effectively, long-term loans) and other external funders.

The debt hasn't disapppeared, it's just been restructured.

Spot On :thumbsup:
In theory they owe the money to themselves
It now requires a period of really good " housekeeping" to ensure they don't spend beyond their means plus obtaining good sponsorship long term.
Will be interesting to see what the accounts show in two years time

Good luck to them for the initiative !!!

[Speedway]

From jokeback

No way of reducing it except a multi-millionaire owner who often forgives/clears debt.