BFC Financial question

Discussion in 'Bulletin Board ARCHIVE' started by SuperTyke, Dec 23, 2012.

  1. SuperTyke

    SuperTyke Well-Known Member

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    We are often told by the club that we are debt free and that is why we are ideal for an investor but at the same time we know that the club has debts of £6m to Patrick Cryne which are to be paid back if the club reach the premiership. How can we be debt free while we have a £6m debt? Anyone know how that works?
     
    SuperTyke, Dec 23, 2012
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  2. Mr C

    Mr C Well-Known Member

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    oh fcking yaaaaaaawwwwwwwnnnn!!!!! Go and put the trimmings up, stuff the turkey or summat!!
     
    Mr C, Dec 23, 2012
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  3. SuperTyke

    SuperTyke Well-Known Member

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    You appear tired. Does that mean that this question has been asked over and over? If it has then I must have missed it. Care to point me in the direction of a thread about it? Then I won't have to bother you again
     
    SuperTyke, Dec 23, 2012
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  4. Mr C

    Mr C Well-Known Member

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    Mr C, Dec 23, 2012
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  5. SuperTyke

    SuperTyke Well-Known Member

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    I hadn't seen that. Cheers. It was a genuine question by the way and not a dig at the club (not sure how it could be seen as one actually).

    Having read that, would I be right in thinking that officially and legally PC hasn't LOANED the club anything, he has invested/gifted it and therefore we are debt free but when he sells the club there will be a clause involved that says £6m goes to PC if the club gets promoted. Nothing to do with a loan at all, simply a part of the sales value of the club
     
    SuperTyke, Dec 23, 2012
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  6. Merde Tete

    Merde Tete Well-Known Member

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    That's the way I interpreted things ST.
     
    Merde Tete, Dec 23, 2012
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  7. Tom

    Tommy HillFlicker Active Member

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    Whilstever PC is under "investigation" - there won't be any selling of the club - otherwise his newly-gained "assets" would be frozen
     
    Tommy HillFlicker, Dec 23, 2012
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  8. Red

    Red Rain Well-Known Member

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    Is it possible that Mr Cryne invested £7m into the club through share capital (7m £1 shares), but has decided to sell those shares for £1m (14.28p per share) unless we are promoted to the Premier League, when the shares would have a different value, retrospectively. You may not be aware, but in the case of a solvent club, ownership would pass from owner to owner through the sale of their shares in the club, rather than by the transfer of assets and liabilities with the resulting husk being wound up.
     
    Red Rain, Dec 23, 2012
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