Jump to content
Note to existing users - password reset is required Read more... ×
Sign in to follow this  
lake district canary

Canary Bond holders

Recommended Posts

Don't know about first years interest but someone told me promotion bonus would be end of September. Would seem logical as they don't just get a heap of cash from PL now

Share this post


Link to post
Share on other sites

What an investment decision that was.:classic_biggrin:

Everybody wins as far as I can see.

We were supposed to get some sort of vouchers, or credits for purchaces in the club shop as I recall,that made the interst up to 8% ? havnt heard much about that?

Well done the club, a great initiative.

Share this post


Link to post
Share on other sites
2 hours ago, lake district canary said:

It is 5% interest and 3% vouchers for the club shop, now plus a windfall for promotion.   What a great reward for investors who took it on. 

 

I hope that all who have benefitted from this investment will raise a glass to Tom Smith who was the director who came up with the idea.

  • Like 1

Share this post


Link to post
Share on other sites
1 hour ago, Haggerdoo said:

Interesting to revisit some of the comments when the bond was first announced 

 

I wasn't on board with the idea and it is one of those things that now looks good due to circumstances not really related to it- ie promotion.

Share this post


Link to post
Share on other sites

3 minutes ago, king canary said:

I wasn't on board with the idea and it is one of those things that now looks good due to circumstances not really related to it- ie promotion.

Without wanting to restart the whole argument, it didn’t need promotion to make it look good. Where else would you get 5% interest? Plus help the club?

Share this post


Link to post
Share on other sites
2 minutes ago, Nuff Said said:

Without wanting to restart the whole argument, it didn’t need promotion to make it look good. Where else would you get 5% interest? Plus help the club?

The biggest question for me was what if we stagnated in the Championship for a few years and had to find the money to pay it all back. I understand it always looked like a good deal for the people investing (hence the enthusiastic take up).

I'm still of the opinion that if you need the fans to finance improvements to the training ground at this level then that suggests something wrong with the finances. I'd imagine that lessons have been learned now and that part of the promotion windfall we receive this time will be set aside for this sort of thing when needed.

Share this post


Link to post
Share on other sites
12 minutes ago, king canary said:

I'm still of the opinion that if you need the fans to finance improvements to the training ground at this level then that suggests something wrong with the finances. I'd imagine that lessons have been learned now and that part of the promotion windfall we receive this time will be set aside for this sort of thing when needed.

Of course there was something wrong, which is why it was so good to be able to feel like you were helping the club - plus getting the double bonus of good interest rate and an unlikely windfall if we were promoted.  But you are right in that lessons will have been learned and it is hoped that we never have to get into that kind of situation again. 

Having said that, it is going to become a more popular way of raising money for clubs, even if a club is reasonable well off.  It's a win win for everyone - as long as you trust the owners of your club are doing it for the right reasons. which of course was the case with our club.

Share this post


Link to post
Share on other sites

Everyone had the chance! It's just some pondered too long. He who hesitates is lost.

The interesting thing would be to see the reasons for investing. I would imagine most ticked the box that said primarily to support the club. And that's how it was marketed. Webber said "we are asking fans to back us"

 

Share this post


Link to post
Share on other sites

The Bond was priced sensibly, with an appropriate interest rate to reflect the relative risk that the Club may struggle to repay the Bond in the event that they weren’t promoted within the lifetime of the Bond, even though there were assurances, for what they were worth, that funds would be set aside each season.

 The rapid take up of the offer suggests many fans, over 700, were prepared to ‘take a view’ on the risk and, with promotion now secured, their ultimate reward is a handsome bonus.

Share this post


Link to post
Share on other sites
1 hour ago, GMF said:

The Bond was priced sensibly, with an appropriate interest rate to reflect the relative risk that the Club may struggle to repay the Bond in the event that they weren’t promoted within the lifetime of the Bond, even though there were assurances, for what they were worth, that funds would be set aside each season.

 The rapid take up of the offer suggests many fans, over 700, were prepared to ‘take a view’ on the risk and, with promotion now secured, their ultimate reward is a handsome bonus.

My building society account was giving me 1% and the canary bond just seemed a no brainer, with the interest rate and the vouchers for the club shop, plus other perks.   There was an element of risk, of course, but it has thankfully proved itself - and much quicker than anyone could have hoped or expected!

Share this post


Link to post
Share on other sites
On 29/04/2019 at 09:33, lake district canary said:

Anyone know when we get our first year's interest or when we will get the promotion windfall? 

 

Has everyone had their letter yet? Interesting twist ....

Share this post


Link to post
Share on other sites

1 minute ago, Graham Paddons Beard said:

Has everyone had their letter yet? Interesting twist ....

Nope, whats the twist?

Share this post


Link to post
Share on other sites
25 minutes ago, Graham Paddons Beard said:

Nothing sinister and it might not apply to everyone . Can’t say any more but nothing to worry about. It’s been an amazing investment! 

You sound like my mum

Share this post


Link to post
Share on other sites

Well I didn’t get my letter but I got my email. Paying off the debt. Fits.

Share this post


Link to post
Share on other sites

Got my email, bit annoyed about them returning the investment, means for the next few years I no longer benefit from the interest.
I can see why the club won't want the debt around their necks, but they asked the fans to help, which they did, in return for the success, they don't want to continue their return of 5% interest and 3% Club spends each year.

Share this post


Link to post
Share on other sites
2 minutes ago, Andy G said:

Got my email, bit annoyed about them returning the investment, means for the next few years I no longer benefit from the interest.
I can see why the club won't want the debt around their necks, but they asked the fans to help, which they did, in return for the success, they don't want to continue their return of 5% interest and 3% Club spends each year.

Blimey, your getting a 25% bonus Andy!

Share this post


Link to post
Share on other sites

I didn't invest (didn't have the spare cash) so didn't read all of the literature, but, I was expecting that they would refund the initial investment with the windfall from the way things scanned...

 

Share this post


Link to post
Share on other sites
4 minutes ago, Van wink said:

Blimey, your getting a 25% bonus Andy!

This is true, I just liked having a 5% a year investment too.

Just incase anyone hasn't received their email - here is the info:

 

2l3c868fnn7e.png
 
 
What happens next?
 
In addition to the payment of Club credit and the Promotion Bonus the Club has the ability to repay the Canaries Bond upon promotion to the Premier League. After considering the best way forward for the Club, the board have decided to use the proceeds of the return to the Premier League to fully repay the Canaries Bond. This will not affect the annual interest payment or the payment of the Promotion Bonus but no further interest will accrue from the repayment date. Repayment will occur on 9 May 2019, the anniversary of the Canaries Bond issuance.
 
Key Dates
 
  • 9 May 2019 – The Club will fully repay the Bonds together with accrued interest. Your principal investment and 5% interest will be repaid by cheque. The 3% Club Credit interest will be loaded onto your Bondholder card. Club Credit will be redeemable for the purchase of club shop merchandise and be redeemable against tickets and hospitality packages and matchday purchases such as food & drink for the 19/20 season. The Club will send out a separate communication to all Bond Holders with further details on how to redeem the Club Credit.
 
  • 30 September 2019 – The Club will pay the 25% Promotion Bonus in accordance with terms of the offer. Your 25% interest will be paid by cheque.

Share this post


Link to post
Share on other sites
18 hours ago, Graham Paddons Beard said:

Nothing sinister and it might not apply to everyone . Can’t say any more but nothing to worry about. It’s been an amazing investment! 

You mean the paragraph where the words "Ponzi scheme" appear?

Share this post


Link to post
Share on other sites
Posted (edited)

Also got my email. I always thought they had over priced the bond in terms of the return given. Possibly did not have the confidence it would sell, that won't happen again.

Can see that they want the debt off the books, save the high rate of interest they would be paying, and clear us freebies out of hospitality which they can then sell at premier league prices.

However all in all it has been good for the club and good for the investors. So win win.

No complaints from me lost 4 years interest - 32%, but will receive a 25% promotion bonus that did not even come into the investment decision. Happy to call that quits, and not a fan of watching from behind glass, would rather be in my seat.

I was pleased to invest to support the club and I am pleased to receive my investment back as that too will be supporting the club.

OTBC

Edited by Sussexyellow
Typo

Share this post


Link to post
Share on other sites
Posted (edited)

Well pleased with this. I never saw it as an investment really, just as another way I could support the club. Could only scrape together £500 but I still feel like I contributed to this seasons success and now I've got a decent return too.

I saw lots of ordinary fans at bondholders events. People who I see at the other club events and at games all over the country. Many of them invested for the same reason as me.

The clincher for me at the time was the pledge to pay bonds back in full if Delia and Michael no longer had majority shareholding. That made it safe as houses in my book!

Edited by nutty nigel
  • Like 1

Share this post


Link to post
Share on other sites

So if you invested £500 you get that back, plus 5% interest (£25) and a 25% bonus (£125) and £15 club credit?

So £650 in cash and £15 to spend on merch? Not to be sniffed at and I think from a club point of view paying it back now while they can clearly afford to makes a ton of sense.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×