Buckshawlatic Posted July 1, 2018 Share Posted July 1, 2018 3 hours ago, latics22 said: Well we simply can’t pay it and he’s knows that. You would assume AL would have that in writing before taking us on. He does but that doesn’t stop him calling it in. If I told my bank I couldn’t afford my mortgage I’d bet any money (not that I’d have any) they’d call it and reposses even knowing they probably wouldn’t recoup the whole amount. he could liquidise us if he wanted Quote Link to comment Share on other sites More sharing options...
singe Posted July 1, 2018 Share Posted July 1, 2018 3 hours ago, tGWB said: Singe Bury FC Accounts for the year end 31st May 2017 Agree that Bury Creditors (Debt) have risen from £6,837,747 in 2017 from £4,334,418 in 2016, an increase of £2,503,329 Bury FC Operating Loss is £2,665,662 for 2017 up from £2,358,160 in 2016 What's your source for Latics debt being c£7m as we don't appear to have filed our Accounts for some time ? Assuming Latics run at a similar annual Operating loss of lets say c£3m (this £figure has previously been muted by our previous Chairman), what has Mr Lemsagam spent his c£5m-£6m on ? Genuinely interested No problem tGWB. I was referring to the capital value of 8.417m after assets. When I said similar to ours as in 7m to 8.417m being in a roughly similar range and comparable. It is a fair point that we owe 11m. I'm just glad we are discussing it. I'd like to see some of ALs plans for the squad (which we'll know soon I guess) and the club long term. On the face of it an odd investment and with AL now taking on RLJ its potentially significantly more. 1 Quote Link to comment Share on other sites More sharing options...
oafcmetty Posted July 1, 2018 Share Posted July 1, 2018 23 minutes ago, Buckshawlatic said: He does but that doesn’t stop him calling it in. If I told my bank I couldn’t afford my mortgage I’d bet any money (not that I’d have any) they’d call it and reposses even knowing they probably wouldn’t recoup the whole amount. he could liquidise us if he wanted He calls it in, we go into admin, barely any assets so he gets back pennies in the pound. Or he holds onto it for ever on the slim chance we ever hit the big time again. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.