Tekel Towers » Another loan

Tek · 27/3/2017 10:32 pm

500k this time.

Announced at tonight's AGM.

Robbing Peter to pay Paul.

Tek · 27/3/2017 10:59 pm

Courier reporting in 1st edition that it's an investment from America.

Though they are reporting it as only a 300k investment.

Guess we will hear more in this Radio Scotland interview.

Tek · 27/3/2017 11:06 pm

Gussie Park used as collateral as part of the 300k loan agreement.

Unreal.

Tek · 27/3/2017 11:10 pm

The prospect of us not going up this season would appear cataclysmic.

Thankfully DUFS seem to have pre-empted this.

Their campaign to raise funds might just save us.

Arab_plumber · 27/3/2017 11:15 pm

Thompson has crippled the club

The fed boys have shouted loud for years but got ridiculed by many but right here right now everything they warned us about has came true.

To clarify I'm not a fed member

Glasgow is tangerine · 27/3/2017 11:22 pm

Ironically Gussie brought us in 300k in investment in the past year.

We must be on our knees to sanction such a deal.

David_Blunkett · 27/3/2017 11:23 pm

Just fucking cut out the middle man and get Wonga on the phone.

TheShed · 27/3/2017 11:23 pm

Every loan we take adds to the problem, once Gussie is security on this loan there's nothing left to secure. What happens when the next loans needed? The club is now at the point where it cannot spend £1 more than it brings in, cos the next missed payment or next loan needed with nothing to offer as security could shut the doors.

To be fair, he said he'd get investment in and it looks like he has, but it's like trying to fill the bath with the plug out, cos he hasnt got close to fixing the overspending.

Tek · 28/3/2017 2:28 am

Tek wrote:
500k this time.

Would seem this isn't a one off 500k loan

BUT

2 loans since January

1)200k ~ allegedly Cath Thompson to keep us from Admin
2)300k ~ This Glaswegian banker in the US who studied at St.Andrews and as a consequence started supporting Utd.

blackandtangerine · 28/3/2017 4:54 am

My man at the agm said its 500k on top of the earlier 200k. The 500k was borrowed after the accounts were sent out to shareholders. Making current debt apprix 1.9 million.

Arabgrayser · 28/3/2017 6:20 am

Never mind lads, Andy Robertson's impending £10m+ summer move will solve all our problems. 😏

bowers · 28/3/2017 6:58 am

What happens when the latest loan runs out in august?

28/3/2017 7:12 am

blackandtangerine wrote:
My man at the agm said its 500k on top of the earlier 200k. The 500k was borrowed after the accounts were sent out to shareholders. Making current debt apprix 1.9 million.

£300k from the USA according to the Courier (online) this morning

blackandtangerine · 28/3/2017 7:23 am

scarpia wrote:
blackandtangerine wrote:
My man at the agm said its 500k on top of the earlier 200k. The 500k was borrowed after the accounts were sent out to shareholders. Making current debt apprix 1.9 million.

£300k from the USA according to the Courier (online) this morning

As i said my man at agm said 500 bringing debt upto 1.9 million.
Debt was 1.2. Add the 200k previously got then would have to be 500k.

Also club forecasting net loss of 650k for this season

bowers · 28/3/2017 8:56 am

We got 200k in jan

Since then we have securwe another £500k which was confirmed at club agm yesterday.

Another £300k is close to being sealed with someone in America...that will take us to the start of the season.
What a time to be alive.k

Tek · 28/3/2017 8:58 am

bowers wrote:
We got 200k in jan

Since then we have securwe another £500k which was confirmed at club agm yesterday.

Another £300k is close to being sealed with someone in America...that will take us to the start of the season.
What a time to be alive.k

So wait.

1 million pounds in total we have been loaned in the past 3 months?

Am i understanding this correctly?

bowers · 28/3/2017 9:06 am

Tek wrote:
bowers wrote:
We got 200k in jan

Since then we have securwe another £500k which was confirmed at club agm yesterday.

Another £300k is close to being sealed with someone in America...that will take us to the start of the season.
What a time to be alive.k
So wait.

1 million pounds in total we have been loaned in the past 3 months?

Am i understanding this correctly?

Yes as i am led to believe. 700 as it stands just now with the american deal to be confirmed.

TheShed · 28/3/2017 9:08 am

So basically almost doubling the debt again. With more to come, because the plug hasn't been put back in yet and there's nothing left to sell.

Buy a season ticket - no chance.

Tek · 28/3/2017 9:19 am

bowers wrote:
Tek wrote:
bowers wrote:
We got 200k in jan

Since then we have securwe another £500k which was confirmed at club agm yesterday.

Another £300k is close to being sealed with someone in America...that will take us to the start of the season.
What a time to be alive.k
So wait.

1 million pounds in total we have been loaned in the past 3 months?

Am i understanding this correctly?

Yes as i am led to believe. 700 as it stands just now with the american deal to be confirmed.

Bloody hell.

Leedsy2 · 28/3/2017 9:40 am

Does it look like we're heading for admin? Or am I havering?

Affshore · 28/3/2017 10:20 am

Shambles yet some can still see no wrong 😱

Arab_plumber · 28/3/2017 10:31 am

Wait I thought Stephen puts his own money into United??????

David_Blunkett · 28/3/2017 11:48 am

Tully have picked up on this story.

They're saying it's ONLY 500k we've borrowed to see this season out and the incoming 300k is separate from this.

Pipe down there lads, it's only an 800k shortfall.

28/3/2017 11:57 am

Tek wrote:
bowers wrote:
We got 200k in jan

Since then we have securwe another £500k which was confirmed at club agm yesterday.

Another £300k is close to being sealed with someone in America...that will take us to the start of the season.
What a time to be alive.k
So wait.

1 million pounds in total we have been loaned in the past 3 months?

Am i understanding this correctly?

Ok I'm a little puzzled here.

The £300k is to be secured on Gussie Park.

That means (if the above is correct) then there's £800k worth of unsecured loans (£200k from Cath Thompson?)

Can't see anyone (in their right mind) putting up £500k though if the Thompsons did it might protect their position in admin.

Odd they would give details of the loans but not the loanees?

Quite sure we're not double counting here?

Have just seen DBs post above which does seem a bit more plausible.

Doubtless ST will clear all doubts tonight ☺

Last edited by scarpia (28/3/2017 12:00 pm)

TheShed · 28/3/2017 12:47 pm

I know there was offers of money dependent on an anonymity clause which could explain why figures have been given with no names of loanees. I was told the offer I heard of was turned down because JM refused to agree to the anonymity clause and said if they're giving us money they can put their name to it, so maybe not the same money, who knows.