ClaretPete001 wrote: ↑
Mon Oct 31, 2022 12:01 pm
I was largely referring to what the club has paid out in terms of cash this season. As far as I understand it Chester seems to suggest that we still owe £51 million to the former owners, therefore, £68 - £51 = £17 million paid out of the incoming cash this season. Of course, I could have misread CPs point.
That in addition to the £30 million paid out to MSD equates to £47 million plus the transfer fees of £22 million is £69 million. To be clear, that is £69 million this season....!
My point was to try and give some context to those who think we have got £70 million in the bank from transfers and there will be funds available in January.
My point was firstly: we haven't received all that because as CP points out some of that transfer money is owed to former clubs and, secondly, there has been an awful lot cash paid out.
And yes on the upside there seem much more likelihood of a positive outcome than anyone would have thought a year ago.
From my understanding - the club's non-football outgoings this calendar year will be in the region of £87m - £90m
- £37m in loans to Pace to cover Stage Payments
- £35m+ in debt reduction with MSD when the penalty is included (it could in reality be closer to £38m if MSD applied the full value of lost interest in the penalty charge)
- £10m in loans to Pace to cover the acquisition of shares from the small shareholders (I believe there is some more needed to cover future club credit expense)
- £5m or so in Interest to MSD
On the footballing side there are the transfers and the cost of disposing of Dyche and his team, which may mean we are just paying them as normal. All the players out of contract at the end of June and had not joined a new club would have received a full salary payment (at the rate they were earning during the season) in July, which is something all clubs do following an agreement with the PFA many, many years ago.
As far as the takeover is concerned, there is just £21m left to pay the original ownership group in regard to the original deal and that is due at some point next year. Established practice would lead us to believe that the club will be loaning that money to Pace. The scheduled timing of the payment is the key question here that I have yet to find an answer to, though I suspect it will be in the reporting period of the current season