Search found 5950 matches

by Paul Waine
Wed Jan 20, 2021 12:38 pm
Forum: The Bee Hole End
Topic: BFS under scrutiny again
Replies: 44
Views: 1951

Re: BFS under scrutiny again

They'll probably force them to replay the game and West Brom will win the replay. Should be a points deduction for both teams if the Premier League finds that the rules have been broken. If what SA has said is correct, West Ham agreed to transfer RS with an agreement that he be left out of the game...
by Paul Waine
Wed Jan 20, 2021 12:25 pm
Forum: The Bee Hole End
Topic: BFS under scrutiny again
Replies: 44
Views: 1951

Re: BFS under scrutiny again

The Times report: ‘We could only do deal with this agreement’ – Robert Snodgrass deal under scrutiny Gary Jacob, Matt Lawton Wednesday January 20 2021, 12.01am, The Times The Premier League last night launched an investigation after Sam Allardyce said he did not include Robert Snodgrass in his West ...
by Paul Waine
Sat Jan 16, 2021 2:26 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

I guess that depends on the portfolio size. I've seen various figures ranging from $10bn to $34bn so it could be a pretty small element. Hi aggi, even if we take the $34bn number, placing over £100 million with English football clubs is a "big position." As I say, even MSD guys have got the knowled...
by Paul Waine
Sat Jan 16, 2021 11:05 am
Forum: The Bee Hole End
Topic: Amazon Prime
Replies: 45
Views: 3127

Re: Amazon Prime

My free 30 day trial was due to end yesterday and was hoping to maybe get another trial with my wife`s email address for the West Ham game today. Went into the Prime Video app on my TV and I`m still able to watch programmes on there despite expecting the free 30 day trial to have ended yesterday. S...
by Paul Waine
Sat Jan 16, 2021 10:59 am
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

This is what our friend The Esk had to say about them http://www.uptheclarets.com/messageboard/viewtopic.php?f=2&t=20891&start=6053 as for CDO's, I suspect that banks that "factor" such as MacQuarie and Barclay's may do it, but it will be more difficult for non mainstream lenders (which tend to be ...
by Paul Waine
Sat Jan 16, 2021 12:22 am
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

the suspicion is that the MSD loan is all money from Michael Dell's family office, he rarely goes to market to raise funds but uses them to spread his funds around the world often via tax efficient locations such as the Guernsey Stock Exchange. from his perspective a 9%+ interest rate is a great re...
by Paul Waine
Thu Jan 14, 2021 3:44 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

it is a trail for one of MSD UK's notes that has been bouncing around over the last couple of weeks - though not one I believe was used for us https://www.tisegroup.com/market/securities/12187 Thanks. We're looking in the same place. Do you know if there's any documentation/terms of the loan notes ...
by Paul Waine
Thu Jan 14, 2021 3:31 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

the suspicion is that the MSD loan is all money from Michael Dell's family office, he rarely goes to market to raise funds but uses them to spread his funds around the world often via tax efficient locations such as the Guernsey Stock Exchange. from his perspective a 9%+ interest rate is a great re...
by Paul Waine
Thu Jan 14, 2021 3:26 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

Mores discussion on the Burnley takeover on todays business of sport podcast from the Athletic not listened to it yet, but you can find it here https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5zaW1wbGVjYXN0LmNvbS9zR2FhOVhVag/episode/NDU3NzE5M2EtNTVmOC0xMWViLWI5M2QtMGJjZWE4ZmM4N2Rl?hl=en-GB&ved=2...
by Paul Waine
Thu Jan 14, 2021 12:38 am
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

Your time, effort and commitment to his thread and your own in depth is much appreciated Paul. Can I just pick up on these two points. As always, I hope I'm wrong, but I feel MSD/P couldn't give two hoots whether any of their footie investments fail, as of course, their loan is secured on high valu...
by Paul Waine
Wed Jan 13, 2021 10:52 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

The article is awkward in this specific area - it says it has used £55m of Burnley's own cash reserves yet that doesn't add up (even using the lower parameters of the figures offer by the media for borrowings and up front stake) £102m initial payment less £10m upfront and approx £60m from MSD sugge...
by Paul Waine
Wed Jan 13, 2021 10:39 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

I think Pace being an experienced football man is somewhat over-egged. In a long career he's spent 18 months over a dozen years ago at a nascent MLS team with a turnover of £5m, that's a world away from a premier league team. For what it's worth I don't disagree with exciting times. Whether it is g...
by Paul Waine
Wed Jan 13, 2021 10:31 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

This is a point of view and I actually think it's helpful in understanding where you're coming from - illuminating even. However, it's not a point of view that I share. Football clubs are not simply assets. They are not cars, teapots, widgets, they are not even equivalent to standard businesses whe...
by Paul Waine
Wed Jan 13, 2021 6:54 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

But don't you think that it's easier to spend money when you have got some to spend? We went into this transfer window, or should have, with a large bank balance and no debt. Now we have no money and a lot of debt. How are we going to spend money? The excitement so far is that Burnley FC appear to ...
by Paul Waine
Wed Jan 13, 2021 6:48 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

Sorry Paul, but “we” have lifetimes of emotional and cultural investment in this Club which isn’t shared by a bunch of financiers who arrived a couple of weeks ago. I think “we” have the right to be concerned that the new owners have taken control of our club using very little of their own money an...
by Paul Waine
Wed Jan 13, 2021 6:43 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

Paul, i've seen you post "exciting times" on several occasions. not intending to be impolite, but what are you finding exciting about our current situation, because everything I read makes me think we're in trouble with this lot? Hi boatshed, thanks for asking the question. One or two others have a...
by Paul Waine
Wed Jan 13, 2021 5:13 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

Charge was registered in July at companies house - I posted it at the time on the MMT thread https://find-and-update.company-information.service.gov.uk/company/00053301/filing-history Hi CP, you may already be aware of this Chronicle article from 3-Jul-2020. I guess there's a good chance it is alre...
by Paul Waine
Wed Jan 13, 2021 4:47 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

Charge was registered in July at companies house - I posted it at the time on the MMT thread https://find-and-update.company-information.service.gov.uk/company/00053301/filing-history Thanks, CP. Debenture and Supplemental Security Deed dated 29th June and 30th June, respectively. MSD UK Holdings L...
by Paul Waine
Wed Jan 13, 2021 4:35 pm
Forum: The Bee Hole End
Topic: Nick Pope
Replies: 37
Views: 3707

Re: Nick Pope

I'd say he learnt from Heaton (or Mercer I suppose)... and it was evident that this is what Joe Hart was missing The goalie's shouting and instructions to his team mates is what we get from Nick Pope and got from Tom Heaton. From the games I saw when Joe Hart was in goals this was the thing we were...
by Paul Waine
Wed Jan 13, 2021 4:25 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

Southampton posted their results last night and announced it as a post balance sheet event http://www.uptheclarets.com/messageboard/viewtopic.php?f=2&t=20891&start=6059 Thanks, CP. A lot of interesting stuff in Soton's financials. It's interesting that Soton retained their 3-Jun year end and so 6 o...
by Paul Waine
Wed Jan 13, 2021 3:42 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

I have a suspicion that if someone emptied your bank account and took out a mortgage on your behalf, you wouldn't be quite so appreciative. Hmm, we do all know that ALK owns Burnley Football Club and that it's ALK who have taken out a loan and ALK who are using the club's cash? It would be shocking...
by Paul Waine
Wed Jan 13, 2021 1:15 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

I see that Southampton’s loan with MSD Holdings is ~ £80m with interest at 9.14% giving an annual interest charge of £7.2 million. Probably gives a flavour of what we may be looking at if the reported figures are correct. Hi aggi, where are you seeing these details on Soton's loan? Is there any dat...
by Paul Waine
Wed Jan 13, 2021 1:11 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

Brownhill was disclosed in the last accounts as they weren't signed off until February. A takeover would have to be disclosed as a post balance sheet event but, as others have said, I'd be amazed if they weren't signed off before the takeover happened. Thanks, aggi. It was too late last night for m...
by Paul Waine
Wed Jan 13, 2021 1:08 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

What this paragraph is saying is that before the takeover, the business had cash in hand to pay the workers; after the takeover, that cash has all gone, the business has a mortgage, and will need to take out more mortgages to carry on paying the workers. Exciting times indeed. As the Arab curse use...
by Paul Waine
Wed Jan 13, 2021 12:40 am
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

Major post balance sheet events have to be reported even though they didn't happen during the year. So if the accounts for the period ending last summer were not yet finalised, they would have to include an outline of what has just happened. If the accounts have already been signed, they won't have...
by Paul Waine
Wed Jan 13, 2021 12:33 am
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

I'm no accountant but on 30th December we appeared to £40-50m in the bank, debt free. on 31st December, we appear to have £0 bank balance, plus a new debt of £60m To use the mortgage analogy. I'm getting on a bit, the house is a bit tired, there's stuff to do. I'm mortgage free, but at least i've g...
by Paul Waine
Tue Jan 12, 2021 7:12 pm
Forum: The Bee Hole End
Topic: Burnley v Manchester United - Match Thread
Replies: 594
Views: 7944

Re: Burnley v Manchester United - Match Thread

It's what I can only describe as a miserable day here in SW Ontario. Minus 6 degrees, cloudy, damp and some kind of freezing mist. My condo car park is getting slippery, I hope they salt it soon. I'm not confident of a positive outcome vs United today, hopefully we can avoid a battering, 0-2 would ...
by Paul Waine
Tue Jan 12, 2021 7:08 pm
Forum: The Bee Hole End
Topic: Burnley FC In Memoriam 2020
Replies: 55
Views: 2004

Re: Burnley FC In Memoriam 2020

God bless, to all those who have passed. RIP.
by Paul Waine
Tue Jan 12, 2021 6:45 pm
Forum: The Bee Hole End
Topic: Ai Scout App
Replies: 59
Views: 2745

Re: Ai Scout App

:lol: :lol: Would be hilarious if they were bombarded with video's of middle-aged clarets completing the drills! I'm thinking of getting my kit on, do a few walking football drills and then submitting with the recommendation "view on fast forward." ;) :D Once I've got my vaccine I'll be ready for a...
by Paul Waine
Tue Jan 12, 2021 6:39 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

I'm sorry not read everything, so apologies for repeating...but Mr Pace writes "Finally, there has been some speculation in the media about the club’s finances. While the details and figures quoted by some sections of the national media are wide of the mark, I realise that some supporters may worry...
by Paul Waine
Mon Jan 11, 2021 5:26 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

Chester Perry wrote:
Mon Jan 11, 2021 5:22 pm
is this a special diet regime to keep the metabolism high
Hi CP, of course it is! ;) :D

Exciting times.

UTC
by Paul Waine
Mon Jan 11, 2021 5:25 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

I think the mistake that many are making, in part prompted by some of the posters on this board, is that American private equity buys a football club for any reason other than to make a profit. I said somewhere way back when that Burnley FC and American private equity make strange bedfellows but I ...
by Paul Waine
Mon Jan 11, 2021 5:17 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

I will only be worried when Paul Waine isn't excited. Hi Frank, I'm planning on being excited all the way through the end of this season. Somewhere along that football timeline I'm hoping to get my two shots of the covid-19 vaccine. I'll be happy if my first shot is early March and my 2nd will be 1...
by Paul Waine
Mon Jan 11, 2021 5:10 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

Paul the 200% article also doesn't say that none of the original £500m + borrowed has ever been repaid, or that the Glazers never intend to repay the loan, similarly there is no mention of the dilapidated state Old Trafford is in now in or how the £1billion + taken out to service loans, lenders, di...
by Paul Waine
Mon Jan 11, 2021 4:59 pm
Forum: The Bee Hole End
Topic: SD hopeful of players return.
Replies: 4
Views: 952

Re: SD hopeful of players return.

A nice update, but isn't this a case of days and nothing to do with being hopeful? I thought it was a matter of fact - they isolate for 10 days and that's end of chat? Which means they have to miss the game, regardless? Sean Dyche says the 4 isolators are available, so their periods of self-isolati...
by Paul Waine
Mon Jan 11, 2021 4:48 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

Essential reading for every single Burnley fan. We are Burnley not Manchester United. Very, very apprehensive. Hi Royboy, I don't think we need to be too concerned at what 200% write, their article is full of inconsistencies. Taking the ManU stuff first: they talk of all the money leaving the club ...
by Paul Waine
Mon Jan 11, 2021 9:40 am
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: Take over

Which to me was an indicator that MG was looking to sell and cash in his investment. Post profits, cash in the bank, minimise headcount, all things you would do when positioning a business for sale. I was told that a prudently run business looks similar to one that is being set up for sale, clearly...
by Paul Waine
Mon Jan 11, 2021 9:32 am
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

Man U. have arguably the world's biggest fan base so there is no shortage of income to repay the owners. What will we be relying on if/when we eventually get relegated and the parachute payments have dried up? Hi Spijed, do you think Alan Pace has told MSD that Burnley also have a "massive, global ...
by Paul Waine
Sun Jan 10, 2021 11:17 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

Bin Ont Turf wrote:
Sun Jan 10, 2021 9:17 pm
Excruciating times
Hi BOT, I'm assuming "predictive txt." ;)

It should be.....

Exciting times.

UTC
by Paul Waine
Sun Jan 10, 2021 11:14 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: Take over

Not convinced that Matt Slater is a fan of Farnell and the comment about the hedge funds is not about ALK, or even MSD it is about the funds that have loaned money to MSD which they have then loaned onto ALK via the Velocity controlled companies Calder Vale and Kettering, still trying to get my hea...
by Paul Waine
Sun Jan 10, 2021 11:06 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

I 've always regarded myself as fairly financially literate but I struggle with understanding aspects of the deal as outlined , for example how a Club's own cash reserves can in some way be used as part of the purchase consideration for shares in the Club ? What bothers me is that we seem to be in ...
by Paul Waine
Sun Jan 10, 2021 12:16 am
Forum: The Bee Hole End
Topic: If Alan Pace had to...
Replies: 21
Views: 1296

Re: If Alan Pace had to...

I'd add 2008/09 Capital Punishment DVD. We've got a story to tell.

Exciting times.

UTC
by Paul Waine
Sun Jan 10, 2021 12:13 am
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

Hi Paul, yes, my question about the distribution of profits was more rhetorical really - I was trying to politely point out that there had not been a dividend payment as was being suggested. I'm sure that your posts have been helpful to many (and much appreciated) but I am actually very experienced...
by Paul Waine
Sat Jan 09, 2021 2:48 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

If they have put more than £10 in as equity shares, they havent informed Companies House yet. Mind you, it looks like they haven't told them about the changes in directorships either :shock: Agree. I'm not sure exactly how quickly they need to inform Companies House of all the developments. Some of...
by Paul Waine
Sat Jan 09, 2021 2:45 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

I suppose the biggest question is how those additional instalments are being funded. I hope MG/JB have put some clauses in the deal on how much of the future instalments can be funded through debt. That then puts the focus on ALK raising funds through investors. Hi New, I'd be very surprised if MG/...
by Paul Waine
Sat Jan 09, 2021 2:29 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

The £10/15m is unlikely to have been put in as equity, it'll be a directors' loan with a nominal amount of equity. Hi, Tall Paul, I'm raising an eyebrow at the idea that Velocity Sports can borrow £60m while it has only £10 of equity. (Yes, £10, not £10 million). However good the club's assets are ...
by Paul Waine
Sat Jan 09, 2021 2:26 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

I have edited my post about the use of cash in the business to make it clearer that if true it is likely (temporarily) reducing the debt (or equity required) rather than helping to "purchase the business". But Tall Paul & Daniel I don't see how the cash paid out can have been a distribution of prof...
by Paul Waine
Sat Jan 09, 2021 12:17 am
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

Leading on from that thinking Paul, I wondered if the size of deferred payments might link to future ‘goodwill of the business’ which are faced with great uncertainties in terms of broadcast money (hard to imagine increases here) and also Covid (not to mention relegation). Alan Pace’s comments allu...
by Paul Waine
Sat Jan 09, 2021 12:08 am
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

Paul. If I read correctly your hypothesising a scenario that ALK will only fully own the club after 3 more years of prem football have been secured. With the impact that a relegation would mean that the club gets handed back to Garlick & John B? Hi Father Jack, not quite. I'm sure that ALK own 84% ...
by Paul Waine
Fri Jan 08, 2021 11:49 pm
Forum: The Bee Hole End
Topic: ALK Capital or Farnell/Elkashashy takeover
Replies: 7650
Views: 525452

Re: ALK Capital or Farnell/Elkashashy takeover

Just thought I'd post a few words about cash flow. A number of posters have commented on the £42 million cash at bank that BFC reported in their accounts for the year ended 30-June-2019. These are the latest set of accounts in the public domain. We all got access to them in early April 2020. Based o...