Madbadteacher Posted November 12, 2014 Report Posted November 12, 2014 http://www.eveningexpress.co.uk/news/local/aberdeen-fc-secure-14-49m-deal-to-wipe-out-debts-1.678610?2 Please Quote
Stewart Posted November 12, 2014 Report Posted November 12, 2014 It is. http://www.afc.co.uk/news/5358.php#.VGMEsclECjY Quote
BigAl Posted November 12, 2014 Report Posted November 12, 2014 Oh ya beauty Fantastic news Well done to all involved Quote
Tyrant Posted November 12, 2014 Report Posted November 12, 2014 So who's taken on our debt? Or has this Willie Donald guy paid it off all in exchange for part ownership of the club? Forgive me for being skeptical but when something seems too good to be true it usually is! Quote
BigAl Posted November 12, 2014 Report Posted November 12, 2014 Tyrant The Donald's have put up the "bulk" of the money and become major shareholders in return. AFC debt free and the inherent servicing costs GONE Quote
manc_don Posted November 12, 2014 Report Posted November 12, 2014 Happy fucking days. I was worried April had come too soon, but seeing it on the official website , wow. Usually I'd share the same cynacism as you tyrant, but this sounds genuine. We've wanted investment in the club for yonks, its now arrived. Quote
tlg1903 Posted November 12, 2014 Report Posted November 12, 2014 Not only investment but investment from a source that isn't looking to line their pockets. Fantastic news for the club Quote
tlg1903 Posted November 12, 2014 Report Posted November 12, 2014 To give that more context http://m.bbc.co.uk/sport/football/30016946 Quote
BigAl Posted November 12, 2014 Report Posted November 12, 2014 Looks like there might be a bit more to this than first meets the eye. Donald's invest hard cash which goes straight to the bank. Bank takes said cash and in return write off agreed level of funding greater than value of cash given to them. This is the same principle as both Arabs & Killie used. AAM & Stewart Milne convert debt to share holding and hey ho the club are debt free and no longer have the burden of seven figure debt servicing hanging round their neck Armagedon eh ? Fucking loving it Quote
manc_don Posted November 12, 2014 Report Posted November 12, 2014 Looks like there might be a bit more to this than first meets the eye. Donald's invest hard cash which goes straight to the bank. Bank takes said cash and in return write off agreed level of funding greater than value of cash given to them. This is the same principle as both Arabs & Killie used. AAM & Stewart Milne convert debt to share holding and hey ho the club are debt free and no longer have the burden of seven figure debt servicing hanging round their neck Armagedon eh ? Fucking loving it I know! Well done to all involved at the club Quote
Jute Posted November 12, 2014 Report Posted November 12, 2014 Fantastic news. Hopefully the funds used for servicing the debt can now be given to the manager to strengthen the team in January. Quote
Tyrant Posted November 12, 2014 Report Posted November 12, 2014 Fantastic news. Hopefully the funds used for servicing the debt can now be given to the manager to strengthen the team in January. Can't see it. They specifically state that the intention is to continue to live within our means and although we'll have greater means to live within we also have other things that require funding such as training facilities (I hope). It's great that in theory we'll be able put money towards training facilities instead of servicing debts but I don't think the playing budget will increase. Even just a little to allow for a left back and a proper goalkeeper. Quote
Tyrant Posted November 12, 2014 Report Posted November 12, 2014 Not only investment but investment from a source that isn't looking to line their pockets. Fantastic news for the club Whilst, obviously, I hope to fuck that this is the case I'm skeptical about it too. Rich people aren't rich because they like handing money here, there and everywhere. Quote
Jute Posted November 12, 2014 Report Posted November 12, 2014 Can't see it. They specifically state that the intention is to continue to live within our means and although we'll have greater means to live within we also have other things that require funding such as training facilities (I hope). It's great that in theory we'll be able put money towards training facilities instead of servicing debts but I don't think the playing budget will increase. Even just a little to allow for a left back and a proper goalkeeper. Whats that outlandish notion? Quote
Tyrant Posted November 12, 2014 Report Posted November 12, 2014 This doesn't surprise me actually. The debt getting cleared has looked increasingly more likely than getting in a semi competent left-back for ages now. Quote
Andrew Posted November 12, 2014 Report Posted November 12, 2014 Will this mean that Milne is no longer the majority share holder as he must have swapped equity for debt with the bank? Quote
Kowalski Posted November 12, 2014 Report Posted November 12, 2014 Fantastic news and genuinely surprising. Well done the Donalds, I'm just glad it's not Ian! Quote
manc_don Posted November 12, 2014 Report Posted November 12, 2014 Amazing news Thats the most enthusiastic response yet Quote
baggy89 Posted November 12, 2014 Report Posted November 12, 2014 This is mega!! Anyone know how much of the turnover went on servicing the debt? Quote
Madbadteacher Posted November 12, 2014 Author Report Posted November 12, 2014 I would guess this will take us several steps closer to our fabled new stadium as well? Quote
tom_widdows Posted November 12, 2014 Report Posted November 12, 2014 Wonder if this give more weight to the legal battle with those pricks in the city council who 'revoked' the granted planning permission for the sports village at Cove which was to include both the new training facilities and Cove Rangers new stadium? Unless of course that decision has since been overturned? Quote
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