Granite City Reds Posted December 19, 2011 Report Posted December 19, 2011 http://www.eveningexpress.co.uk/Article.aspx/2563466 ABERDEEN FC chairman Stewart Milne contributed to a fresh £2.5 million loan to the club. Milne and the club’s other major shareholders – Aberdeen Asset Management – came up with the extra funds in March to keep their bankers sweet. Details of the loan will be explained to Aberdeen FC shareholders when they attend the club’s annual meeting at Pittodrie tonight. Quote
mizer Posted December 19, 2011 Report Posted December 19, 2011 Im sure I heard this during the summer? Quote
mini59dons Posted December 19, 2011 Report Posted December 19, 2011 http://www.eveningexpress.co.uk/Article.aspx/2563466 ABERDEEN FC chairman Stewart Milne contributed to a fresh £2.5 million loan to the club. Milne and the club’s other major shareholders – Aberdeen Asset Management – came up with the extra funds in March to keep their bankers sweet. Details of the loan will be explained to Aberdeen FC shareholders when they attend the club’s annual meeting at Pittodrie tonight. Well thanks Stewarty!! Funny how it comes out now as well with the 'for change and the coffins appearing! Quote
glasgow sheep Posted December 19, 2011 Report Posted December 19, 2011 Was covered by the Trust review of the accounts. EE on the ball as ever. http://www.donstalk.co.uk/messageboard/index.php?topic=14810.0 Aberdeen Football club recently announced their trading results for the year ended 30 June 2011. The AFC Trust board have prepared a brief summary of the main points which can be seen below. For the year to 30th June 2011 the company had a net loss of £2,116,000. The operating loss was £1million (before depreciation, interest and amortisation) which reduces to £589,000 after adjusting for the £411,000 payoff to the previous management team. Turnover has increased by 5.8% from £7.053 million to £7.462 million (mostly due to TV money on reaching two cup semi finals) In operating costs the staff costs were up by £460,000 but this included the £411,000 payoff. The total debt has increased by £1.8million from £13.8 million to £15.6 million. Stewart Milne Group and Aberdeen Asset Management have each put in additional interest free loans of £1.25 million totalling £2.5million. The bank have been repaid £1.2 million of rolled up interest but the current years bank interest of £.5million has been added to the bank loans. However the interest rates on the new facilities are lower which will provide a cost saving. At the moment the major shareholders are helping fund the Company. The bank facilities are in place until 28.02.12 and it is hoped that on the strength of the sale of Pittodrie and the continued support of the major shareholders they will be successfully re-negotiated. Quote
mizer Posted December 19, 2011 Report Posted December 19, 2011 If he had paid in £1.25m wow, great gesture. No, we owe him £1.25m more. Quote
BigAl Posted December 19, 2011 Report Posted December 19, 2011 If he had paid in £1.25m wow, great gesture. No, we owe him £1.25m more. Exactly, another chance to curry favour missed by Stewarty Quote
manc_don Posted December 19, 2011 Report Posted December 19, 2011 If he had paid in £1.25m wow, great gesture. No, we owe him £1.25m more. Pretty much how I viewed it too. donation would have been nice, loan? Great... Quote
Jute Posted December 19, 2011 Report Posted December 19, 2011 Pretty much how I viewed it too. donation would have been nice, loan? Great... At least its interest free this time. He charged us interest on the last one. Quote
Edinburghdon Posted December 19, 2011 Report Posted December 19, 2011 I was hearing that the loans will be written off at some point down the line, not sure how accurate this is but the person who told me seemed fairly sure. Quote
scotfree Posted December 19, 2011 Report Posted December 19, 2011 You have to remember for Milne too do this is like us putting money to a Membership at a Golf Club Means fuck all. Quote
McMaster Posted December 19, 2011 Report Posted December 19, 2011 He just has us by the balls and there ain't much we can do until a new investor turns up. Who, without being a die hard Aberdeen fan or mentally ill would want to invest about 15 to 20 million in a football team in this financial climate. Never mind how shit AFC and the Spl are! He leaves the club and leaves us with the debts. We will go under I fear. Quote
mizer Posted December 19, 2011 Report Posted December 19, 2011 I was hearing that the loans will be written off at some point down the line, not sure how accurate this is but the person who told me seemed fairly sure. Why not do it now then? Quote
Edinburghdon Posted December 19, 2011 Report Posted December 19, 2011 Why not do it now then? Fuck knows Mizer, I'm not Stewart Milne. I am of the opinion however that a lot of the flak he is taking is slightly harsh, the club is in a shit state but I still believe everything he has and continues to do is in the best interests of the club. I realise that is an unpopular opinion but frankly I'm not fussed Quote
Edinburghdon Posted December 20, 2011 Report Posted December 20, 2011 hmmm agrees to loan 2.5 mil just after the bidding process has ended and he's found oot how much we're getting for Pittodrie? Fuckin cunt Milne, we've been steamrollered into this piss shite idea of a new stadium and cock smoking ass clowns who wave the "if you're against it you're against progress" mongs (who're actually the real luddite spastics) are clapping all the way to the yellow bus. I think I'll just sit back - watch it all unfold - and then give it big "I told ye so's" and rarely attend ever again. 1. The loan was given towards the start of the year, around march i believe. 2. The bidding process is still ongoing, it was extended. So you were almost right there well done jager Quote
onlyjim Posted December 21, 2011 Report Posted December 21, 2011 You can all say what you want. It was a loan, not a donation so he wants it back and i can guarantee there will be interest. Why not just donate the money. Rich git Quote
glasgow sheep Posted December 21, 2011 Report Posted December 21, 2011 You can all say what you want. It was a loan, not a donation so he wants it back and i can guarantee there will be interest. Why not just donate the money. Rich git It is a loan but it is interest free. Don't see how he could charge interest given that is the agreement SMG and AAM made with AFC Quote
Jute Posted December 21, 2011 Report Posted December 21, 2011 It is a loan but it is interest free. Don't see how he could charge interest given that is the agreement SMG and AAM made with AFC Latest loan is interest free however the one they put in place last year is not. Quote
glasgow sheep Posted December 21, 2011 Report Posted December 21, 2011 Latest loan is interest free however the one they put in place last year is not. True and that was unacceptable but we weren't talking about that loan Quote
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