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Post by kreuzbergred on Nov 24, 2018 18:05:24 GMT
On the Trust Salford twitter feed from yesterday. 15:57
Very soon it will be announced a major creditor of the club will write off unconditionally all the debt owed to them. The Club however cannot run on fresh air and so I hope this great gesture will prompt many others to step forward and support.
Got to be the Doc.
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Post by dentonred on Nov 24, 2018 18:14:44 GMT
I've told club to leave the Willows turf that they still owe me. Your welcome.
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Post by bonitared on Nov 24, 2018 18:17:12 GMT
In exchange,we’ve agreed to stop raising the issue of the Myler money.
So,one last time,where did it go ??
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Post by kreuzbergred on Nov 24, 2018 18:19:56 GMT
I've told club to leave the Willows turf that they still owe me. Your welcome. Me too. If anybody can find the Warehouse off the East Lancs where John Wilkinson has Stored the Fixtures and Fittings from the Willows apparently. Then we'd probably find it there. Although there's probably lots of Places off the East Lancs where lots of Grass🚬 is Grown. |
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Post by Deleted on Nov 24, 2018 20:48:57 GMT
In exchange,we’ve agreed to stop raising the issue of the Myler money. So,one last time,where did it go ?? More importantly what happened to Myler?
He had such a glittering career ahead of him until he threw it away and left the mighty reds.
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Post by earlybath on Nov 25, 2018 20:42:03 GMT
I've told club to leave the Willows turf that they still owe me. Your welcome. Me too. If anybody can find the Warehouse off the East Lancs where John Wilkinson has Stored the Fixtures and Fittings from the Willows apparently. Then we'd probably find it there. Although there's probably lots of Places off the East Lancs where lots of Grass🚬 is Grown. Dearie Me - - Were you not at the auction at The Willows where every stick of furniture etc was put under the Hammer - Flog It`s Adam Partridge - was the auctioneer. The whole lot amassed......................drum roll - less than £8k including all the pics, pots, pans, sofas etc. |
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Post by kreuzbergred on Nov 26, 2018 0:44:56 GMT
It wasn't very well publicised, That's Salford through and Through. It's a Pity I always wanted to buy a pair of those Fake Satin Curtains that had been Hanging upin one of the Meeting rooms since the 1970s !!
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Post by bonitared on Nov 26, 2018 17:16:29 GMT
The Doc has just tweeted that debts,loans and money owed to him has all been written off.
All that remains,and it’s sizeable,is the debt he inherited when he took over.
A very generous gesture.
Just waiting for someone to criticise him for not writing off the inherited debts as well 🤫🤫
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Post by bigfish on Nov 26, 2018 17:19:09 GMT
Fantastic gesture from MK.
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Post by kreuzbergred on Nov 26, 2018 17:24:24 GMT
The Doc has just tweeted that debts,loans and money owed to him has all been written off. All that remains,and it’s sizeable,is the debt he inherited when he took over. A very generous gesture. Just waiting for someone to criticise him for not writing off the inherited debts as well 🤫🤫 I'll give it an Hour⏰ |
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Post by JJR on Nov 26, 2018 17:35:36 GMT
8 minutes: good business writing off a debt that you'd never get back and leaving a ~ £2.5M debt that you would have had to pay.
Still the new Board accepted both ...why?
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Post by bonitared on Nov 26, 2018 17:52:48 GMT
Strictly speaking I don’t think the Board has the authority to intervene.
Secondly,even if they did have such authority,their only legal duty would be to ask themselves whether it was in the interest of shareholders.
Thirdly,and I’m not certain on this point,I think it’s the club that has the arrangements with past creditors
I applaud your attempt to see a downside,though
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Post by earlybath on Nov 26, 2018 18:36:49 GMT
Downside is easy to see Bonita. Any new investor will have to take over the CVA plus interest plus undertakings to creditors, Council & Peel no doubt. As JJR said MK wouldnt get his loan back anyway - still in that cleft stick I`m afraid.
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Post by bonitared on Nov 26, 2018 19:09:00 GMT
Downside is easy to see Bonita. Any new investor will have to take over the CVA plus interest plus undertakings to creditors, Council & Peel no doubt. As JJR said MK wouldnt get his loan back anyway - still in that cleft stick I`m afraid. Absolutely correct. However,any new investor won’t have to also pick up the MK debt.😀 In addition,Koukash gesture might encourage some of the others to do similar,albeit the Councils hands are tied and Peel won’t write anything off. |
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Post by Deleted on Nov 26, 2018 19:47:19 GMT
Catch 22, bit damned if he did damned if he didn't.
At least it's one less issue for the current owners to consider going forward and possibly sell the club to the rumoured Chinese investor.
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