Ex Player Ex-Player Thread

Receiving a big sell-on fee would be great, but don't we need to pass it straight to slippery until he's paid back for all the cash he promised wouldn't be owed back to him under his ownership? :rolleyes:
 
Shame, we'd have such a competitive budget this year if the Roofe deal goes through. Alas we're hindered by another promise breaker. I do agree it's best to pay him back ASAP though, so I wouldn't complain too much if Roofe moves to the plastics. Hopefully he won't want to lower himself to that though!
 
Shame, we'd have such a competitive budget this year if the Roofe deal goes through. Alas we're hindered by another promise breaker. I do agree it's best to pay him back ASAP though, so I wouldn't complain too much if Roofe moves to the plastics. Hopefully he won't want to lower himself to that though!

I don't know if true but I have seen mentioned on here that apart from the charge on transfers then OUFC will be debt free under the takeover deal. If true (and a big if), tbf to DE he will have written off £ms to do so even with the charge.
 
I don't know if true but I have seen mentioned on here that apart from the charge on transfers then OUFC will be debt free under the takeover deal. If true (and a big if), tbf to DE he will have written off £ms to do so even with the charge.

You are correct. Other than the 4 million that has been agreed to pay Eales over a period of time the club is debt free.

I don’t get why everyone has an issue with how Eales gets his money but I will point out that the deal for money from transfers was for the money currently due for Roofe, O’Dowda and Johnson which were all sold on his watch. The fees from Ledson, Hemmings and any others don’t directly go straight to Eales but if tiger wishes then he can pay Eales off earlier.
 
Receiving a big sell-on fee would be great, but don't we need to pass it straight to slippery until he's paid back for all the cash he promised wouldn't be owed back to him under his ownership? :rolleyes:


I'm not an Eales lover but I don't remember him promising anything more than no additional debt would be added under his tenure.
 
You are correct. Other than the 4 million that has been agreed to pay Eales over a period of time the club is debt free.

The club makes an operational loss of ~40k per week based on the latest set of accounts. Eales may have cleared the debt owed to him but we've already run up ~£500k of debt Tiger's watch.

Haven't heard from the Owner if debt will be written off when he sells the club (hopefully we would be in the black then) but quite sure Eales confirmed this early on in his tenureship. We assume also that any debt to Tiger is non-interest bearable also, right?
 
I think the question about Eales leaving the club "debt free" was about what would happen if he ran out of money to fund the club, and the answer at the time was that he would leave the club debt free. So effectively what Donald did at Eastleigh, converting all his loan or "investment" into shares, and then giving the shares away for free.

With Oxford, there was a willing buyer who is apparently happy to pay back some or all or more of what Eales put into the club during his time in charge.
 
Pretty sure we have a sell on clause..

Where have Reading suddenly got this money from? Heard they also enquired about Marcus Maddison.

Shame if Roofe ends up there, but if it pays off money owed to DE then hope it happens.
Thought they still owed millions
 
Receiving a big sell-on fee would be great, but don't we need to pass it straight to slippery until he's paid back for all the cash he promised wouldn't be owed back to him under his ownership? :rolleyes:
Mr Eales will need to be paid on any profits from any Roofe sell-on, no matter what the time line?
 
I think the question about Eales leaving the club "debt free" was about what would happen if he ran out of money to fund the club, and the answer at the time was that he would leave the club debt free. So effectively what Donald did at Eastleigh, converting all his loan or "investment" into shares, and then giving the shares away for free.

With Oxford, there was a willing buyer who is apparently happy to pay back some or all or more of what Eales put into the club during his time in charge.
Mark, I am always appreciate your informative posts. I am interested to know what your "day-job" ACCA qualified accountant? I appreciate if you dont want to comment.
 
Mr Eales will need to be paid on any profits from any Roofe sell-on, no matter what the time line?
Not necessarily - there are or were loan notes due to ENSCO of £4,275,708 by some date in 2019. Cash received from sales of O'Dowda, Roofe, Lundstram and Johnson get paid into a separate bank account, of which £3,275,708 gets paid to Ensco in instalments due April 2018, September 2018 and final in 2019.. If the residual transfer fees and any current or future player sales exceed that amount (£3,275,708 in total), then the club gets to take the excess out of the account.

So depending on whether the transfer cash coming in is enough to repay Ensco in full, then at some point Eales doesn't get any further profits. I don't think FA rules allow him to claim a sell-on clause due to player ownership rules, but did enable him to put in a deferred payment arrangement based on transfer fee cashflows.
 
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