Southampton not keeping up payments

[xollob]

So According to my sourcethe Scummers aint KEEPING UP payments for their training ground and the builders pull out !!!
The Liebherr family cursed by Stains as within a week of buying the club a liebherr crane fell down in the docks and Mr liebherr died in his sleep last year, relatives not happy and want out. It's a skin for them with big money signings big wages and they feel time is right to

 

[cliveh27]

At the end of the season they will get loads of cash as parachute payments, so they will be able to pay off their debts

 

[xollob]

At the end of the season they will get loads of cash as parachute payments, so they will be able to pay off their debts

pOMPEY GOT LOADS OF PARACHUTE PAYMENTS TOO, LOOK AT THEM !!

 

[beardy gull]

In an interview with The Times in March 2010, Cortese discussed his approach to running a football club.

Clubs spend money they do not have; they spend next year’s income. They spend money that will not arrive for two years and say, "But we'll have some success and bring in more cash to cover the shortfall". It cannot be sustained. In good times you need to be saving money for the bad times. If we reach the Premier League, I would like to be in a position where we did not need parachute payments. In good years you should put money away for the bad years.

October 2012

SFC has borrowed an unspecified amount of money from Vibrac Corporation, registered in the British Virgin Islands, which is secured as a fixed and floating charge on all assets and future revenues.


Seems his approach to running football clubs has changed. Let's hope for their sake they stay up.

Vibrac Corporation have also lent money to Everton previously as reported here....

Everton mortgage future broadcast income to alleviate cashflow problem | Sport | The Guardian

 

[xollob]

In an interview with The Times in March 2010, Cortese discussed his approach to running a football club.



Seems his approach to running football clubs has changed. Let's hope for their sake they stay up.

THEY WILL STAY UP FOR 3 SEASONS

AUTUMN

WINTER

SPRING

Then its RELEGATION PARTY TIME IN SCUMVILLE

Adkins are ya stayin up?

 

[blockhseagull]

Well they were on site yesterday when I was on site

 

[skipper734]

Well they were on site yesterday when I was on site

You aren't the Contractor they have an issue with then!

#saintsfc confirm redevelopment work at club's training ground in Marchwood has been temporarily suspended due to issue with contractors

 

[BRIGHT ON Q]

Don't care at all about Saints,but Pompey on the other hand do my head in.

 

[JJB]

your source is an idiot. an old school friend is working for Leadbitter. It is nothing to do with payments. The reason we're taking out the loan is that it is the most tax efficient way of raising capital. plus it's a debenture taken out against future season ticket sales, so the risk to us really is minimal.

 

[Mutts Nuts]

your source is an idiot. an old school friend is working for Leadbitter. It is nothing to do with payments. The reason we're taking out the loan is that it is the most tax efficient way of raising capital. plus it's a debenture taken out against future season ticket sales, so the risk to us really is minimal.

RIGHT so the billionaire Leibherre family wont cough up ,strange that .I see your club being sold for a profit in the near future

 

[Arthur]

I'll tell you what this thread is lacking...............a smilie!

 

[JJB]

RIGHT so the billionaire Leibherre family wont cough up ,strange that .I see your club being sold for a profit in the near future

Why would they just 'cough up' as you say? That has never been the premise on how the club has been run. It has however been muted that the club is up for sale, with a Japanese billionaire consortium looking to invest. Cortese has said on several occasions, should the family want to sell he's got plenty of avenues to go down for investment from his time at Banque Herritage, where he was 'banker to the billionaires'. We really have nothing to worry about with this man in charge of our club.

 

[Mutts Nuts]

Some Tweets Saying We Have Borrowed Against Future Season Ticket Sales | SaintsWeb

 

[JJB]

Some Tweets Saying We Have Borrowed Against Future Season Ticket Sales | SaintsWeb

Most people on saintsweb are complete and utter morons. I however know a lot that they don't. I cannot be bothered to trawl through a thread of people who know nothing about business fretting about us taking out a loan ffs.

 

[Pinkie Brown]

Why would they just 'cough up' as you say? That has never been the premise on how the club has been run. It has however been muted that the club is up for sale, with a Japanese billionaire consortium looking to invest. Cortese has said on several occasions, should the family want to sell he's got plenty of avenues to go down for investment from his time at Banque Herritage, where he was 'banker to the billionaires'. We really have nothing to worry about with this man in charge of our club.

If ever a statement was a bounce waiting to happen? How many clubs supporters have thought that in the past? We once thought Greg Stanley & David Bellotti were 'ok kinda guys'.

Depends how much you trust a 'banker' I guess? We all know they're 100% ethical & only have the customers interests at heart. Hopefully he won't sell to Wing Wang Lee who's looking to 'invest' his sweatshop 'Millions', but turns out to be from the same business school as......Balram Chainrai maybe?

 

[seagullsovergrimsby]

your source is an idiot. an old school friend is working for Leadbitter. It is nothing to do with payments. The reason we're taking out the loan is that it is the most tax efficient way of raising capital. plus it's a debenture taken out against future season ticket sales, so the risk to us really is minimal.

Have the Saints owners been speaking to Tangoman (Simon Jordan) or Peter Ridsdale because that's the sort of thing they would do.

 

[severnside gull]

........
the reason we're taking out the loan is that it is the most tax efficient way of raising capital. plus it's a debenture taken out against future season ticket sales, so the risk to us really is minimal.

Got it!

Like Rangers did

 

[Barrel of Fun]

...plus it's a debenture taken out against future season ticket sales, so the risk to us really is minimal.

It's the rights to all premier league income for the 2013/14 season, is it not?

Whether that be tv income etc. or parachute payments.

 

[Bowers-sfc]

Obssed twats, i said it ages ago!!

Now the reason it has stopped, is due to contractors wanting confirmation on the specification of the build before they continue.

 

[Pinkie Brown]

Now the reason it has stopped, is due to contractors wanting confirmation on the specification of the build before they continue.

WTF?!?

Sorry, that sounds a Mickey Mouse way of building to me. Those 'minor details' like height, width, the way the building should face etc, is usually sorted at the planing stage.

Will the builders be on Rogue Traders in a few months time?