HMRC?

He had to demonstrate he had money to the EFL (Lenagan and Harvey et al). No one can force him to spend it, although spending money on transfers - well he seems like he can get his hands on that money.
As part of the ownership test he would have to produce a business plan and demonstrate that he had funds to cover the projected losses for a couple of years. So, probably £2-3m?

If something unexpected happens which significantly changes that business plan, such as losing the arbitration over the service charges etc, that can swallow up funds which were earmarked elsewhere. And if there are no additional funds to fill the hole, well......
 
As part of the ownership test he would have to produce a business plan and demonstrate that he had funds to cover the projected losses for a couple of years. So, probably £2-3m?

If something unexpected happens which significantly changes that business plan, such as losing the arbitration over the service charges etc, that can swallow up funds which were earmarked elsewhere. And if there are no additional funds to fill the hole, well......

Any sensible business person would have indemnified themselves against such liabilities coming out of their own pocket as part of the SPA.....they were, in the main, accrued on Eales's watch after all.
 
Any sensible business person would have indemnified themselves against such liabilities coming out of their own pocket as part of the SPA.....they were, in the main, accrued on Eales's watch after all.
I was going to post that.... but then if you're desperate enough to do a deal "now" that you'd agree to fund it with transfer fees scheduled to come in to the club over the next 15 - 18 months post takeover then you'd prob be desperate enough to not indemnify yourself against any financial impact of losing the arbitration.
We tend to attract Walter Mitty's like this don't we.... like when Merry was so desperate to get the club that he locked us in to the current suicidal rental deal and still managed to get us relegated after sale was rushed through....
 
What are you wittering on about? Belief?

He had to demonstrate he had money to the EFL (Lenagan and Harvey et al). No one can force him to spend it, although spending money on transfers - well he seems like he can get his hands on that money.

Yes we will bring some players in.

What's not to believe?

The club continually have misled and told porkies................I'm currently the fiercest critic of that.

I can demonstrate I have some money in my accounts to Sainsburys. It doesn’t mean I’m about to go and buy all of their taste the difference selection when I know I can get away with spending my money at Lidl.
 
I was going to post that.... but then if you're desperate enough to do a deal "now" that you'd agree to fund it with transfer fees scheduled to come in to the club over the next 15 - 18 months post takeover then you'd prob be desperate enough to not indemnify yourself against any financial impact of losing the arbitration.
We tend to attract Walter Mitty's like this don't we.... like when Merry was so desperate to get the club that he locked us in to the current suicidal rental deal and still managed to get us relegated after sale was rushed through....
Losing the arbitration should have been factored into the sale. After all it was well know about. What is odd is that I thought Lenagan had previously settled a service charge dispute, so how did another one arise?

As for part-funding the deal with known transfer fees, I don't really see a problem with that. They were assets of the club at the time of the sale, so if for instance they are 4million, and you are paying another 6 for the rest of the club, then you either pay 10 now and keep the 4 when it's received, or pay 6 now, and the 4 goes to Eales when it comes in. not dissimilar to what Sunderland have done with their parachute payments.
 
I can demonstrate I have some money in my accounts to Sainsburys. It doesn’t mean I’m about to go and buy all of their taste the difference selection when I know I can get away with spending my money at Lidl.

You should be directing your angst Si, to the EFL, not me.
 
They haven't lost the arbitration, they have agreed to cease it/halt it & have reached settlements on what they 'owe'. However, fans would know more if they actually told supporters what the current state of play is - albeit Tiger did confirm that in his meeting of 29/12 with OXVOX.

Another mess which was driven by ego's from people who were at the club before Tiger. Makes the little fans forum frenzy and anti Firoz guff that was spouted and pushed into the fanbase, even more embarrassing.
 
They haven't lost the arbitration, they have agreed to cease it/halt it & have reached settlements on what they 'owe'. However, fans would know more if they actually told supporters what the current state of play is - albeit Tiger did confirm that in his meeting of 29/12 with OXVOX.
I think we're getting into the realm of semantics here. Maybe it's more accurate to have said "The club were losing the arbitration and, as a result, agreed to settle to avoid racking up further costs"?
 
They haven't lost the arbitration, they have agreed to cease it/halt it & have reached settlements on what they 'owe'. However, fans would know more if they actually told supporters what the current state of play is - albeit Tiger did confirm that in his meeting of 29/12 with OXVOX.

The club may not be in a position to say much more on the arbitration issue, even if we want them to.
Confidentiality in English arbitration law generally prevents disclosure, by either party, of details of the proceedings or the settlement.
 
The club responds to a cock out but not to a cock up. Most fans actually give a s**t ton more about the HMRC problem and the continual ignorning of the problem is insulting, worrying and downright stupid.

I'm glad the Ox Mail decided to go front page on it today. Damn board needs a rocket up thier arses.
 
What are you wittering on about? Belief?

He had to demonstrate he had money to the EFL (Lenagan and Harvey et al). No one can force him to spend it, although spending money on transfers - well he seems like he can get his hands on that money.

Yes we will bring some players in.

What's not to believe?

The club continually have misled and told porkies................I'm currently the fiercest critic of that.

Less of the wittering!!

Your seemly belief in Tiger, unless I’m reading your comments incorrectly.

What’s not to believe, well virtually everything Tiger says I guess.
 
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They haven't lost the arbitration, they have agreed to cease it/halt it & have reached settlements on what they 'owe'. However, fans would know more if they actually told supporters what the current state of play is - albeit Tiger did confirm that in his meeting of 29/12 with OXVOX.

Another mess which was driven by ego's from people who were at the club before Tiger. Makes the little fans forum frenzy and anti Firoz guff that was spouted and pushed into the fanbase, even more embarrassing.

And where is Darryl position with these costs? I take it the monies owed to him through transfer fees were reduced?
 
Oh, right, yeah, I'm sure they will be then.
 
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