strikers

38 Years

I realise this post is well after the event but I can’t post at work and with my commute I don’t get back until around now.

You can only secure a loan if there are assets to secure it against. As I indicated last night the only assets shown in the club’s balance sheet is Canalside and the ‘intangible’ asset of the players’ registrations. The FA won’t allow the registrations or league membership to be used as security for any lender. If Hoyle has taken a charge over Canalside as security for his loans then this would be recorded at Companies House (and the Land Registry). I can’t see that it is, although he could do so at a later stage of course but, incredulous as you may find it, he is an unsecured creditor of the club for £18m+.

When the club owned Leeds Road it was charged to the bank to cover the bank borrowing but that is not an option of course since the move to the new ground. Davy got around the absence of security for his loans by transferring the shares in the stadium company to his own control. I wouldn’t have minded if he had been up front about it (rather than spinning the farcical tale of ‘for the club’s own protection’!) and then returned them to the club when his loan was repaid.

Hoyle operates everything through a single UK registered company which requires full disclosure. Of course it would have been possible to build a convoluted corporate structure utilising an overseas country of domicile to prevent full public scrutiny and obscure any transfer of funds out of the business. I expect that is the model for a number of owners. The fact that he chooses not to (whatever advice he might have received) is, to me, an indication of his integrity rather than the naivety you attribute to it.

Furthermore the fact that there is no interest being charged on the loans he has provided (as other owners might) should scotch the accusations of him treating the club as a business to make money from. Short of the club turning a regular profit to pay the loans back or an alternative owner willing to pay him back as part of a takeover (can’t see many of them on the horizon) he will not get this money back.

Thats a pretty stunning report and clear if coldish appraisal Berk's and I hope it's appreciated by 38 ~ I did just call for your financial knowledge/input an hr or so back on another 'Empty Chair' thread currently running live, approx 6 posts back ~ Perhaps your knowledge is just focused on Town affairs but if it runs to offering us a punt at Coventry's financials please do us the honour - We're trying to see & speculate what might make Mark Robins leave the Sky Blues

he isnt in it to make money.. neither is he in it to lose money..

i appreciate all the above but know other chairmen and directors at football clubs who "own" much less of their assetts than dean does..

at no point can i believe that dean hasnt covered himself...if he hasnt then im not sure he should ever have considerd running a football team..
Im afraid it all appears far too clean cut...

Abramavich isn't going to get his money back either. He's spent his on a play thing.

Hoyle has spent his trying to improve the standing and infrastructure of his home town club in the conviction that it can be a focus for the community hence the emphasis on the charities, local businesses etc which you don't see the point of.

A friend of mine put half his money in paper towels and the other half in revolving doors... he was wiped out before he could turn round!

A little bit of levity there, but this fiscal foofaraw makes me thank my lucky stars that I am not motivated by money. I have never had aspirations to be the richest person in the graveyard.

BERKSHIRE..I see the point....but its now to all other exclusions..

He is not a saint..please dont ever believe that..!!!!!

btw..the chelsea owner has made "associations" in this country that would have been impossible for him to make if he hadnt bought chelsea.. The football club is very "dear" to him apparently.. At what point do you think he hasnt made his money back??? and will continue to make money , whatever the chelsea bank balance says???

And yet 38 one day you can be .. The next you are not ~ Nigel Adkins is certainly no longer a Saint. Hey I'm sorry m8 its bin a long day and I can't see it being any shorter tomorrow.

I spent some time in India a while back where the money laundering is very much for real .. The villagers literally wash and hang 'Rupees' on their lines .. when I asked what it was all about I was given short shrift.

boots..
im just reading what the club want people to hear..and what the club want the tax man and anyone else with fingers in the pie "needs" to believe..
the world is not round , its "croooked"....