Monkesreturn Posted June 6, 2023 Share Posted June 6, 2023 This post might come as a bit of a shock to the financial experts amongst us, but then again we all know that upon being proven to be wrong..... well, the same old 'don't pay suppliers' stuff will be thrown in counter as per... However...... Sheffield United football club are now officially debt free again. All of the loan notes that were secured against both parachute payments and physical assets with the aussie bank are settled in full.... Other debts have also been settled in full. The Yorkshire Post (amongst other national sources and financial experts....yes real ones) have stated the following. "Contrary to rumour - the bills have not been settled using any incoming Premier league money, nor is there any evidence of the monies arriving from potential buyers"........ " This move is an extremely shrewd move by the current owners, making the accounts more transparent....which in turn will obviously make the club more attractive to potential buyers.... Lovely stuff..... 3 Link to comment Share on other sites More sharing options...
top4718 Posted June 6, 2023 Share Posted June 6, 2023 23 minutes ago, Monkesreturn said: This post might come as a bit of a shock to the financial experts amongst us, but then again we all know that upon being proven to be wrong..... well, the same old 'don't pay suppliers' stuff will be thrown in counter as per... However...... Sheffield United football club are now officially debt free again. All of the loan notes that were secured against both parachute payments and physical assets with the aussie bank are settled in full.... Other debts have also been settled in full. The Yorkshire Post (amongst other national sources and financial experts....yes real ones) have stated the following. "Contrary to rumour - the bills have not been settled using any incoming Premier league money, nor is there any evidence of the monies arriving from potential buyers"........ " This move is an extremely shrewd move by the current owners, making the accounts more transparent....which in turn will obviously make the club more attractive to potential buyers.... Lovely stuff..... About time. Link to comment Share on other sites More sharing options...
Monkesreturn Posted June 6, 2023 Author Share Posted June 6, 2023 (edited) 15 minutes ago, top4718 said: About time. But is it? Or was it just sound financial management of the club? Securing loans against guaranteed income? Which in turn allowed us to keep key playing assets....which in turn delivered promotion back to the top flight. The agreements were out in place during an economic crisis, ensuring that we didnt suffer as a result of huge losses.....risk free with manageable interest... All pretty common sense... Edited June 6, 2023 by Monkesreturn Link to comment Share on other sites More sharing options...
top4718 Posted June 6, 2023 Share Posted June 6, 2023 1 minute ago, Monkesreturn said: But is it? Or was it just sound financial management of the club? Securing loans against guaranteed income? Which in turn allowed us to keep key playing assets....which in turn delivered promotion back to the top flight. The agreements were out in place during an economic crisis, ensuring that we didnt suffer as a result of huge losses.....risk free with manageable interest... All pretty common sense... Not paying small businesses but paying your playing staff should be against the rules, a man spending his own money is but ripping others off is fair game, morally reprehensible. What would have happened had they not gained promotion? Link to comment Share on other sites More sharing options...
Longcol Posted June 6, 2023 Share Posted June 6, 2023 So who pumped in the additional £28 million in capital between Feb 22 and Feb 23? https://find-and-update.company-information.service.gov.uk/company/00061564/filing-history Link to comment Share on other sites More sharing options...
top4718 Posted June 6, 2023 Share Posted June 6, 2023 1 minute ago, Longcol said: So who pumped in the additional £28 million in capital between Feb 22 and Feb 23? https://find-and-update.company-information.service.gov.uk/company/00061564/filing-history No idea but it didn't go on paying bills. Link to comment Share on other sites More sharing options...
Monkesreturn Posted June 6, 2023 Author Share Posted June 6, 2023 1 minute ago, top4718 said: Not paying small businesses but paying your playing staff should be against the rules, a man spending his own money is but ripping others off is fair game, morally reprehensible. What would have happened had they not gained promotion? But this didn't happen did it, as Bettis explains within his interview. The club utilised the maximum window in which they had to pay bills. They did pay all suppliers and small businesses, they just did so in a manner that would allow our own business to continue sustainably... normal business practice. As it is United however, I guess this doesn't apply? Clever use of small business too.... I guess this means that ripping off a national bank to the tune of 17m quid is somewhat acceptable? 4 minutes ago, Longcol said: So who pumped in the additional £28 million in capital between Feb 22 and Feb 23? https://find-and-update.company-information.service.gov.uk/company/00061564/filing-history NOT dozy mmobuosi as he is trying to suggest. Link to comment Share on other sites More sharing options...
top4718 Posted June 6, 2023 Share Posted June 6, 2023 Just now, Monkesreturn said: But this didn't happen did it, as Bettis explains within his interview. The club utilised the maximum window in which they had to pay bills. They did pay all suppliers and small businesses, they just did so in a manner that would allow our own business to continue sustainably... normal business practice. As it is United however, I guess this doesn't apply? Clever use of small business too.... I guess this means that ripping off a national bank to the tune of 17m quid is somewhat acceptable? The maximum window for many payments is 30 days, they went well past this, you can try and dress it up as much as you like. Link to comment Share on other sites More sharing options...
Longcol Posted June 6, 2023 Share Posted June 6, 2023 1 minute ago, top4718 said: No idea but it didn't go on paying bills. So all the "Satisfaction of Charge" statements (ie paying off debts) from yesterday are a mere co-incidence? Link to comment Share on other sites More sharing options...
top4718 Posted June 6, 2023 Share Posted June 6, 2023 (edited) 8 minutes ago, Longcol said: So all the "Satisfaction of Charge" statements (ie paying off debts) from yesterday are a mere co-incidence? That's to pay of the loan from the Oz investment group with newly acquired Premier League money and has zero to do with late paid bills prior to promotion. Edited June 6, 2023 by top4718 Link to comment Share on other sites More sharing options...
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