Mark Attanasio

[GMF 757]

1 hour ago, yellowrider120 said:

Point of order - A Neil was manager in summer 2015. RVW was signed by C Hughton in 2013. 

I didn’t refer to who was manager in 2015 (you’re right, of course, it was Alex Neil) although I’m of the opinion that RVW was actually signed by DMcN, and seemed the most un-Hughton like player ever, but you’re right on 2013. My error.

[GMF 757]

1 hour ago, essex canary said:

By the same token the season ticket rebate scheme for a similar sum  should have been paid to the fans 4 years earlier.

Was that the same season ticket rebate scheme that, with input from Michael Foulger too, was widely recognised as being the primary reason that we signed Grant Holt in that summer?

There’s certain things that I’ll happily question, but I’m afraid that’s not one. To do so would undoubtedly result in significant ridicule.

[GMF 757]

28 minutes ago, Big Vince said:

Delia didn't write off the loans because she doesn't love the club as much as she makes out and that makes her a much lesser owner than the boy Abramovich who wrote off everything Chelsea owed him. Yet Norwich fans would rather her than he! Told you the fans are the problem here.

I think that Russia’s invasion of Ukraine had far more to do with the loan write-offs, rather than it being a philanthropic act by Abramovich, but the fans aren’t the problem here.

[littleyellowbirdie 2,607]

34 minutes ago, Big Vince said:

Delia didn't write off the loans because she doesn't love the club as much as she makes out and that makes her a much lesser owner than the boy Abramovich who wrote off everything Chelsea owed him. Yet Norwich fans would rather her than he! Told you the fans are the problem here.

At the same time though, Chelsea is proof that fan engagement doesn't matter a jot. An owner who chucks money at the club without reservation and gets wins is going to be loved by every fan of the club, whether or not he pretends to give a hoot about what the fans think.

[Nuff Said 5,205]

18 minutes ago, GMF said:

I think that Russia’s invasion of Ukraine had far more to do with the loan write-offs, rather than it being a philanthropic act by Abramovich, but the fans aren’t the problem here.

Perhaps someone could suggest a suitable country for Delia to invade?

[Big Vince 324]

15 minutes ago, littleyellowbirdie said:

At the same time though, Chelsea is proof that fan engagement doesn't matter a jot. An owner who chucks money at the club without reservation and gets wins is going to be loved by every fan of the club, whether or not he pretends to give a hoot about what the fans think.

Agreed. I would rather take the wins than have my club dish out all this touchy feely drivel which is both disingenuous and completely besides the point.

[GMF 757]

Confirmation Statement incoming at Companies House. What odds on the accounts being released tomorrow morning, or first thing Monday?

Losses and loans…

[nutty nigel 7,656]

It's beginning to feel a lot like Christmas...

[shefcanary 2,502]

 I've deleted my original post, I answered my own question. 

Edited November 3, 2023 by shefcanary

[GMF 757]

5 hours ago, shefcanary said:

 I've deleted my original post, I answered my own question. 

You should share how you deleted your post, as there’s a few others who need to do that, usually because their posts make little, or no sense… 

[nutty nigel 7,656]

On 31/10/2023 at 12:25, Big Vince said:

Agreed. I would rather take the wins than have my club dish out all this touchy feely drivel which is both disingenuous and completely besides the point.

Oh Vincey....

Do you remember in the early spring of 1996 when had something like one win in fourteen and were hurtling towards the third division? Do you remember how we all got a letter from Chasey? It was like a letter that we'd get in a Christmas card from a kindly old uncle. He basically put his loving arm around us all and ended by suggesting"with nearly a third of the season reaining we could still make the play-offs... 

I think of that during difficult runs of results.

Perhaps you should sit right down and write yourself a letter
And make believe it came from Bob
You should write words, oh, so sweet
That they knock you off your feet
Kisses on the bottom
You'll be glad you've got 'em

You gotta smile and say "you'll soon be feelin' better"
"We're still in the play-off race"
You need to sit right down and write yourself a letter. Oh yeah!
And make believe it came from Chase.

 

Edited November 3, 2023 by nutty nigel

[Soldier on 169]

Do the accounts show whether Attanassio is being paid the interest due to him or not ?

[Capt. Pants 4,302]

47 minutes ago, Soldier on said:

Do the accounts show whether Attanassio is being paid the interest due to him or not ?

£6.8m total interest but no breakdown as to who to.

[Big Vince 324]

2 hours ago, nutty nigel said:

Oh Vincey....

Do you remember in the early spring of 1996 when had something like one win in fourteen and were hurtling towards the third division? Do you remember how we all got a letter from Chasey? It was like a letter that we'd get in a Christmas card from a kindly old uncle. He basically put his loving arm around us all and ended by suggesting"with nearly a third of the season reaining we could still make the play-offs... 

I think of that during difficult runs of results.

Perhaps you should sit right down and write yourself a letter
And make believe it came from Bob
You should write words, oh, so sweet
That they knock you off your feet
Kisses on the bottom
You'll be glad you've got 'em

You gotta smile and say "you'll soon be feelin' better"
"We're still in the play-off race"
You need to sit right down and write yourself a letter. Oh yeah!
And make believe it came from Chase.

 

But Delia actually did make it to the third division, remember? So we got a nice little trip to Somerset to play the mighty Paulton Rovers.

[king canary 7,682]

Can someone who understands this sort of stuff more than me give a laymans answer as to how we've gotten in so much debt to MA so quickly?

My understanding is we took out a £66m loan against future parachute payments. Is MA's cash replacing that loan? Or is it to help with unexpectedly high interest rates due to the current economic situation? Or is it to do with the shares? I'm a bit baffled as to how we're reportedly already on the hook to him for north of £70m?

[nutty nigel 7,656]

9 minutes ago, Big Vince said:

But Delia actually did make it to the third division, remember? So we got a nice little trip to Somerset to play the mighty Paulton Rovers.

Bless you I know.

But I wondered if you remembered that touchy feely letter from Uncle Bob. I mean, for me it was a great comfort, especially as it came not too long after he wrote to find out if I was dead.

Touching times Vincey boy. Touching times...

[Big Vince 324]

4 minutes ago, nutty nigel said:

Bless you I know.

But I wondered if you remembered that touchy feely letter from Uncle Bob. I mean, for me it was a great comfort, especially as it came not too long after he wrote to find out if I was dead.

Touching times Vincey boy. Touching times...

Are you all there?

[Indy 3,324]

10 minutes ago, king canary said:

Can someone who understands this sort of stuff more than me give a laymans answer as to how we've gotten in so much debt to MA so quickly?

My understanding is we took out a £66m loan against future parachute payments. Is MA's cash replacing that loan? Or is it to help with unexpectedly high interest rates due to the current economic situation? Or is it to do with the shares? I'm a bit baffled as to how we're reportedly already on the hook to him for north of £70m?

Basically Kingo it’s a way of MA turning the debt to total ownership in the very near future! But my concern is where is the parachute payment in all this? Can’t see it!

[king canary 7,682]

3 minutes ago, Indy said:

Basically Kingo it’s a way of MA turning the debt to total ownership in the very near future! But my concern is where is the parachute payment in all this? Can’t see it!

It is in the revenue, I think it counts as TV/Broadcast money.

[nutty nigel 7,656]

6 minutes ago, Big Vince said:

Are you all there?

Pretty much Vincey boy. I mean a bit forgetful short term but long term it seems I remember stuff you block out.

Now did you get one of those letters?

[norfolkngood 1,092]

4 minutes ago, Indy said:

Basically Kingo it’s a way of MA turning the debt to total ownership in the very near future! But my concern is where is the parachute payment in all this? Can’t see it!

It looks that way and i think he will loan to a certain level then take full control ,

I am sure Delia and MWJ have it watertight ,

But If MA wants to walk away or wants his money back we are deep trouble 

[Big Vince 324]

10 minutes ago, nutty nigel said:

Pretty much Vincey boy. I mean a bit forgetful short term but long term it seems I remember stuff you block out.

Now did you get one of those letters?

You block out the entire period 1986-1994. No wonder Chase was asking if you were alive. Were you?

[nutty nigel 7,656]

2 minutes ago, Big Vince said:

You block out the entire period 1986-1994. No wonder Chase was asking if you were alive. Were you?

I haven't blocked out anything. I remember it all. It's just you don't seem to remember anything. Apart from what's in the record books. You're not alone in that I guess. 

Now back to those letters...

[Big Vince 324]

Just now, nutty nigel said:

I haven't blocked out anything. I remember it all. It's just you don't seem to remember anything. Apart from what's in the record books. You're not alone in that I guess. 

Now back to those letters...

For the record, I received no such letters.

[nutty nigel 7,656]

2 minutes ago, Big Vince said:

For the record, I received no such letters.

You weren't a shareholder then?

[Unthink road 132]

Attanasio wants us to fail short term. Money for nothing. It's his business model. 

[norfolkngood 1,092]

12 minutes ago, Unthink road said:

Attanasio wants us to fail short term. Money for nothing. It's his business model. 

Yes and No 

he will be in a stronger position now as club is performing badly on and off pitch ,

without anyone who can match his power and money ,

But as well all know this will be no quick fix ,

it will take the right manager & very good recruitment or some real money invested before he even sees a profit ,

We are a long way from walking out onto the pitch at Spurs again 

[Unthink road 132]

6 minutes ago, norfolkngood said:

Yes and No 

he will be in a stronger position now as club is performing badly on and off pitch ,

without anyone who can match his power and money ,

But as well all know this will be no quick fix ,

it will take the right manager & very good recruitment or some real money invested before he even sees a profit ,

We are a long way from walking out onto the pitch at Spurs again 

He doesn't care short term. He holds the cards. If we slip as we are under this current coach and SD he will gain. We need so much investment in our playing squad and coaching team, I'd be surprised if we'd spent large amounts of money. 

[shefcanary 2,502]

4 hours ago, Soldier on said:

Do the accounts show whether Attanassio is being paid the interest due to him or not ?

From the detail in the loans note in the accounts it is difficult to confirm absolutely how much of the interest charge of £6m has been actually paid to Attanasio without further information. The cash flow statement also has an interest paid figure, but would need more information to confirm that was actually paid over in year. 

The detail disclosed on Attanasio's loans and the other short term loans falls well below what the Financial Reporting Council would expect. I don't know if this deliberate or a **** up. 

[shefcanary 2,502]

3 hours ago, king canary said:

Can someone who understands this sort of stuff more than me give a laymans answer as to how we've gotten in so much debt to MA so quickly.

Not from the paucity of detail on the loans included in these accounts! I'll try to do a deep dive on them next week, but as said above, the lack of detail on the short term loans is either deliberate or a **** up. I assume the former, which makes for very grim reading as far as transparency is concerned.