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River End Canary

Binners up for sale for £35 million

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16 minutes ago, lappinitup said:

Where have you heard that?

In today's Sun. Though I can't view it at work because our web filter treats it as pron :classic_tongue:

Edited by Icecream Snow

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The most pertinent point in the Sun article is that he isn't prepared to write off the debt, contrary to the blind belief showed by a number of Ipswich fans.

I can't see how he can sell them without taking at least a significant write-down of the debt. If an owner wanted to buy and get rid of the debt without that they'd be paying about £130m!

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3 minutes ago, splendidrush said:

Does Evans keep the debt?... up to 95million apparently. 

Yep, won't write any off which is allegedly putting off buyers.

This snippet was funny...

image.png.031d9e00cb8d282d16605f09a9b41200.png

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23 minutes ago, kick it off said:

Yep, won't write any off which is allegedly putting off buyers.

This snippet was funny...

image.png.031d9e00cb8d282d16605f09a9b41200.png

This is coming from the same rag that recently claimed that Lambert would have a £10m 'war chest' in January.

Never mind, being the Sun, there will soon be a story along that the club is to be sold to Sheikh bin Vak

 

ps what would any buyer actually be buying ie that is tangible ?

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8 minutes ago, Bill said:

This is coming from the same rag that recently claimed that Lambert would have a £10m 'war chest' in January.

Never mind, being the Sun, there will soon be a story along that the club is to be sold to Sheikh bin Vak

 

ps what would any buyer actually be buying ie that is tangible ?

The statue of Alf Ramsey is worth a few quid😀

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2 minutes ago, ricardo said:

The statue of Alf Ramsey is worth a few quid😀

Couldn't do worse than having 'him' in their defence - a bit more mobile than Chambers 😊

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I like the comment in the tweets linked to by a football financial analyst

"It's a shame Ipswich have not shown the cost of signings in the press release, but it's likely to be once again at the bargain bucket end of the divisional spending."

 

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But Evans didn't pay full dollar for the debt from Aviva. So the total quoted contains the original amount owed which was nearly £40M.

And the loans he has made to the club (which he charges 5.4% interest) are only repayable if they reach the Prem.

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3 minutes ago, keelansgrandad said:

And the loans he has made to the club (which he charges 5.4% interest) are only repayable if they reach the Prem.

Fairly safe bet that they won't need to be repaid for two and a half seasons at minimum then!

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I have no idea if the story is true, but it would make sense.

I know Evans is reputed to be worth 800 million but even for someone as rich as him, total losses owed to him, which now amount to 95.5million, must be a bit of an irritant. As Keelan points out he is charging 5.4% interest on this, but after 10 years, he could be forgiven for wondering if it was worth the hassle!

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5 minutes ago, Chelm Canary said:

Ipswich town have rubbished claims the club is for sale. 

They'll probably be the last to know.

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With net liabilities considerably in excess of net assets, they’re technically insolvent and only remain ‘solvent’ with the ongoing financial assistance from ME. 

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2 hours ago, Chelm Canary said:

Ipswich town have rubbished claims the club is for sale. 

You'd expect them to. Get a national newspaper to leak it so potential buyers are aware. Equally deny it in an official capacity so people dont assume desperation and so fans dont turn.

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4 hours ago, lappinitup said:

That article also says it's happening...

Speaking about his continued ownership of the club, which he took control of 11 years ago, when speaking to iFollow Ipswich in April, Evans outlined his position.

“If I didn’t feel we had a chance [of winning promotion], then, yes, it would be time for me to move on,” he admitted.

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11 minutes ago, hogesar said:

You'd expect them to. Get a national newspaper to leak it so potential buyers are aware. Equally deny it in an official capacity so people dont assume desperation and so fans dont turn.

I would hardly think that is likely - if only that the Sun is not sen as bing above the Daliy Sport for accuracy

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3 hours ago, GMF said:

With net liabilities considerably in excess of net assets, they’re technically insolvent and only remain ‘solvent’ with the ongoing financial assistance from ME. 

There must be loads of clubs that applies to though?

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6 hours ago, Bill said:

This is coming from the same rag that recently claimed that Lambert would have a £10m 'war chest' in January.

Never mind, being the Sun, there will soon be a story along that the club is to be sold to Sheikh bin Vak

 

ps what would any buyer actually be buying ie that is tangible ?

Even Sheikh bin Vak wouldn’t be able to put the freshness back into that lot...

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7 minutes ago, Grando said:

Even Sheikh bin Vak wouldn’t be able to put the freshness back into that lot...

for our younger readers

 

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20 minutes ago, Nuff Said said:

There must be loads of clubs that applies to though?

To be honest, I haven’t checked. No one seems to care.

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I think the final sentence in the sun's (fairy) story should tell you where this has come from

 

 

"However, Evans wants to claw back a portion of the debt owed to him, meaning investors do not see Town as an attractive club to buy, despite their history and fanbase."

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