If I was worth 275 million pounds.

[BlyBlyBabes 0]

If I were worth 275 million pounds and being the passionate, lifelong Norwich City supporter from Norfolk that I am, and if my wife was also a lifelong fan, and if we wanted a new challenge in our lives, and if I had bought two seats on the NCFC board, and if I was really serious..............I would have already quietly resolved to risk [yes risk, not invest] at least 10% [or 27.5 million pounds] of my fortune on getting the club back into the premier league and establishing it there.

But then, that''s me.

Let''s see.

OTBC

   

[Evil Monkey 52]

If I could be any superhero, I''d like to be Wolverine off of the X-Men cos he kicks arse and has long metal claws!Sorry, this is the pointless dream-land thread, isn''t it??

[Ernie 0]

If I was worth 275 million pounds

Maybe we should sing this when they play the Proclaimers next season!

Seriously though, lets hope that his long term plan is to invest more.  Perhaps more will be revealed after all our transfer dealings have gone through.

[Archie 0]

yawn

he doesn''t have 275million in cash ready to spend

[CambridgeCanary 0]

[quote user="BlyBlyBabes"]

If I were worth 275 million pounds and being the passionate, lifelong Norwich City supporter from Norfolk that I am, and if my wife was also a lifelong fan, and if we wanted a new challenge in our lives, and if I had bought two seats on the NCFC board, and if I was really serious..............I would have already quietly resolved to risk [yes risk, not invest] at least 10% [or 27.5 million pounds] of my fortune on getting the club back into the premier league and establishing it there.

But then, that''s me.

Let''s see.

OTBC

   

[/quote]

So, work out how much you are worth BBB - you don''t have to tell the rest of us.  In fact, all you who think the Turners should lend more do this exercise:

Add:

the value of your house,

pension fund,

investments,

car and other possessions,

insurances

cash.

Then take off all your debts.

Bet it amounts to more than you thought.

BUT - now look at how much you could raise in cash to spend on your hobby.   For most of us, it is a lot less than 10%.

I know nothing about the Turners except what I''ve read but although the numbers are bigger, the cash % will be similiar.  I have business associates worth £10 mil who cannot raise £20,000 in cash (2% to save you working it out) because it is all tied up in business assets that they cannot liquidate.  I would struggle to raise 0.2% of my nominal value.  A house is worth nothing till you sell and then where do you live?

Stop digging and perhaps be a little glad that the Club has £2mil more to spend than it did a week ago.

[megson 0]

Staggering stupidity.

I know you post this drivel to get a bite, and I shouldn''t but...................................

Unbelievable

[Broken_hearted_canary 0]

its a logical concusion, also fantastic business.

imagine spending £20 million to get us in the premiership, we''d then get a minimum of £30 million. if we stayed up more than one season we''d have made back the initial investment for whoever and be in the premier league.

 

go on, do it. u no u want to.

[ricardo 7,445]

[quote user="BlyBlyBabes"]

If I were worth 275 million pounds and being the passionate, lifelong Norwich City supporter from Norfolk that I am, and if my wife was also a lifelong fan, and if we wanted a new challenge in our lives, and if I had bought two seats on the NCFC board, and if I was really serious..............I would have already quietly resolved to risk [yes risk, not invest] at least 10% [or 27.5 million pounds] of my fortune on getting the club back into the premier league and establishing it there.

But then, that''s me.

Let''s see.

OTBC

   

[/quote]

How easy is is to spend other peoples money.

[mbncfc 1]

If I had the wings of a sparrow...

[8]

[The Voice of the Thorpe Area 0]

It''s 2 million we didn''t have 2 weeks ago. Could be the difference between new signings or no signings...

[Syteanric 1]

being "worth" and actually having are 2 different things.

 you could be Worth 10 million pounds for example but only have 5p to your name... if u had 238 Million u could do anything with the money... if the turners had that money stuffed under the matress they would now be owners of the club i think.

jas :)

[Delias Buns 0]

If I was worth £275,000,000.....

..... I''d be rich!

[BlyBlyBabes 0]

The ignorance contained in some of the replies on this thread is mind-boggling, aggressive spin and sheer misunderstanding of business, finance and economics. Of course, Andrew Turner doesn''t have 27.5m in his back pocket - neither does Abramovich. Are you telling me that Andrew couldn''t buy a luxury yacht and anchor it in Monte Carlo - if that was his fancy? Or find 30m to buy out a pesky competitor. His fancy is Norwich City and he is evidently ambitious for himself and City.

Now, I''m not going to get trapped in responding to directly cr*p (yet), but invite you to look at the Football Top 40 Group in the same Sunday Times Rich List 2007 (as posted below). And I ask you to look at Andrew''s wealth status compared, just for example, with Dave Whelan (Wigan), Mohammed-el-Fayed (Fulham), Steve Gibson (Middlesboro), John Madejski (Reading), Jack Hayward (Wolves) or Martin Edwards (Man Utd).

http://business.timesonline.co.uk/tol/business/specials/rich_list/article1713774.ece

[:-*]

OTBC

P.S. The Sunday Times figures are minimum estimates of the listees'' wealth.

 

[BlyBlyBabes 0]

[quote user="CambridgeCanary"][quote user="BlyBlyBabes"]

If I were worth 275 million pounds and being the passionate, lifelong Norwich City supporter from Norfolk that I am, and if my wife was also a lifelong fan, and if we wanted a new challenge in our lives, and if I had bought two seats on the NCFC board, and if I was really serious..............I would have already quietly resolved to risk [yes risk, not invest] at least 10% [or 27.5 million pounds] of my fortune on getting the club back into the premier league and establishing it there.

But then, that''s me.

Let''s see.

OTBC

   [/quote]

So, work out how much you are worth BBB - you don''t have to tell the rest of us.  In fact, all you who think the Turners should lend more do this exercise:

Add:

the value of your house,

pension fund,

investments,

car and other possessions,

insurances

cash.

Then take off all your debts.

Bet it amounts to more than you thought.

BUT - now look at how much you could raise in cash to spend on your hobby.   For most of us, it is a lot less than 10%.

I know nothing about the Turners except what I''ve read but although the numbers are bigger, the cash % will be similiar.  I have business associates worth £10 mil who cannot raise £20,000 in cash (2% to save you working it out) because it is all tied up in business assets that they cannot liquidate.  I would struggle to raise 0.2% of my nominal value.  A house is worth nothing till you sell and then where do you live?

Stop digging and perhaps be a little glad that the Club has £2mil more to spend than it did a week ago.

[/quote]

For your attention Cambridge.[:O]

From The Sunday Times

April 27, 2007

Rules of engagement

How the Sunday Times compiles Rich List 2007

1 This list is based on our estimates of the minimum wealth of Britain’s 1,000 richest people or families. The actual size of their fortunes may be much larger than our figure. The valuations were carried out at the beginning of January 2007. Where we say that people are worth a certain figure, the present tense is used for brevity, though we are taking the January valuation date. As with last year, due to volatile stock markets in 2007 some fortunes based on shares in quoted companies may be much lower. We have taken account of this but stick broadly with our January valuation date to give consistency with past Rich Lists and with other people in today’s list.

2 We measure identifiable wealth, whether land, property, racehorses, art or significant shares in publicly quoted companies. We exclude bank accounts — to which we have no access — and small shareholdings in a private equity portfolio.

3 We tend to be cautious and try to give due consideration to liabilities. We keep very low-profile people at last year’s value where we have no new information on their wealth.

4 Many individuals in the list generated their personal wealth from the sale of successful businesses. In valuing them, we have to take account of the tax paid on the sale proceeds. The simplest assumption would be to make a 40% deduction for capital-gains tax (CGT). However, these entrepreneurs will have taken professional advice to reduce their tax bill. Tax experts tell us that the notional 40% rate can often be reduced to 25% or even zero, depending on whether the business is quoted or unquoted and on factors such as residency.

5 On inheritance tax, we have again taken advice. While tax is payable on assets held at death at the rate of 40%, no tax is paid on assets transferred by gift seven years prior to death or on those assets that pass to a surviving husband or wife. Where there is no surviving spouse, it is assumed that sufficient planning will have been undertaken to reduce inheritance tax to a residual 5% rate. We assume foreign nationals will have taken advantage of the non-UK domicile status to avoid an inheritance tax liability.

6 In valuing privately owned hedge funds in the City, we have tended to value them at about 10%-12% of their funds under management, depending on the strength of their accounts and reputation in the market. We have relied on excellent work in valuing hedge funds by Martin Tomkinson, a leading financial investigative reporter. Also we acknowledge the pioneering work done by Peter Koenig, a Sunday Times business reporter, in analysing the returns achieved by private equity companies and the impact on the wealth of their leading partners.

7 We have stuck to some broad rules, widely recognised within the accountancy profession, to arrive at our valuations. All share stakes in publicly quoted companies are valued at the price given in the Financial Times in early January 2007, to correspond with last year’s list. When there has been a sharp subsequent rise or fall in the shares, we have taken that into our calculations where circumstances dictate.

Private companies, and stakes in them, are valued on the basis of their most recently reported pre-tax profits less a notional tax charge, multiplied by the relevant price-earnings (p/e) ratio. The p/e ratio is the current share price divided by the most recent earnings per share. As private companies do not have a quoted share price, the p/e ratio for every private company in the past has been calculated by using the relevant sector’s average p/e ratio at the beginning of January. Or, when we have found a quoted company that nearly matches the private company in business activity, we use the quoted company’s p/e ratio as a yardstick for valuation. Where appropriate, we have also valued companies on their net assets, reflecting our much more cautious approach to valuations this year.

Family shareholdings are agglomerated where it is obvious that the family acts together to defend the company’s interests. We usually name and picture the leading family member to represent the whole family’s interests, although in some low-key families we have not highlighted a family member and called the entry the Thomson family, for example. Family trusts are also aggregated and included. We have distinguished between trusts held on behalf of family members, usually children and grandchildren, which we include as family wealth, and charitable trusts, which are not included.

8 Land is valued on what and where it is. Most valuable is London land with planning permission, then other urban land, then good farming, forestry, poor farming and, finally, desolate land. We take account of shooting and fishing rights. Estimates of agricultural land values per acre have been given by Strutt & Parker, the leading land agency and chartered surveying group, and appear in the table below.

9 Valuations of pop stars’ wealth are based on research by Cliff Dane, author of the Rock Accounts books. These incorporate detailed analysis of published accounts and disclosed earnings, catalogue valuations and estimates of income from current activity and retained earnings from music.

10 The art treasures have been valued by an expert who wishes to remain anonymous. We have devised a formula that seeks to take account of the tax liabilities faced by the British aristocracy when they sell old masters and similar treasures. Some of the owners, notably the Duke of Buccleuch, face tax liabilities of 80% of any theoretical sale price, but we have generally assumed that about half the sale proceeds would disappear in one form or another to Revenue & Customs.

Page 1 of 3

[CambridgeCanary 0]

Thanks BBB.  I did read that when I got the Rich List with my Sunday Times.  I also acknowledge your point about raising finance.  Your post gave me an opportunity to spell out the simple process of understanding liquidity as many posters clearly don''t.  You do, but you gave me a soap box.

I know nothing about the Turner''s business affairs or their company.  The firts thing to say is that the disclaimer/explanantion from the Sunday Times illustrates the guesstimate element of valuing a business like this.  However, even if the comapny is asset rich, the structure may well not make it cash rich.  I do have experience of other businesses in this and related sectors.

Secondary lenders (that is finance companies other than the main banks) raise money on the moneymarkets.  They will borrow money from banks and building societies etc at the best interest rates they can achieve.They then lend that money on.  The profit will be the difference between the costs of borrowing and the receipts from borrowers.  Each month, they will probably raise millions on short term loans and repay existing loans.  The assets are the loans out which have to be understated as they will have a significant risk of default.  That is one reason interets rates for secondary are so high.  If 20% of the money you lend is going to disappear, you need to make sufficent profit on the other 80% to cover it.

The company may well reinvest profits in loans to increase profits by removing the loan element.  It may well have significant cash reserves to protect it against adverse situations.  Any £30mil purchase would be leveraged with investment borrowings.

A business of this size would have a p/e of at least 10.   Assuming that the Turners that the ST estimate of £275 mil is accurate, that would suggest annual profits the Turners for their share of the business of £27.5mil.  Your original starting figure.  Even if true, most people don''t have their whole annual income as disposable money

Beyond these points, I am not sure what your responses are actually saying.   I undoubtedly have a deficient understanding of finance, economics and business and please direct me to where I am specifically missing the point.

[BlyBlyBabes 0]

All I''m saying Cambridge, is that if Andrew Turner really wants to own and lead NCFC into a successful future, he will have very few problems assembling 27.5m pounds (say) to do it.

He and his wife have stated that they are ready for new challenges.

Whelan, el-Fayed, Gibson, Madejski, Hayward, Edwards et al have done it. Why not Andrew?

It''s not rocket science.

It''s ambition plus passion plus nous plus strategy plus resources..........and the will to make things happen.

What a wonderful, wonderful challenge to be able to take up.

That''s all I''m saying.

One love.

OTBC

 

 

[Misery Guts 0]

How depressing the state of the game, that we look to rich lists and bank balances to place our desires and dreams.

[BlyBlyBabes 0]

[quote user="Misery Guts"]How depressing the state of the game, that we look to rich lists and bank balances to place our desires and dreams.[/quote]

And when was it never so, Misery?

It''s just at a higher level and so much more in our faces these days.

Cheer up. Dreams - even broken dreams - are better than nightmares

OTBC

 

[CambridgeCanary 0]

[quote user="BlyBlyBabes"]

All I''m saying Cambridge, is that if Andrew Turner really wants to own and lead NCFC into a successful future, he will have very few problems assembling 27.5m pounds (say) to do it.

He and his wife have stated that they are ready for new challenges.

Whelan, el-Fayed, Gibson, Madejski, Hayward, Edwards et al have done it. Why not Andrew?

It''s not rocket science.

It''s ambition plus passion plus nous plus strategy plus resources..........and the will to make things happen.

What a wonderful, wonderful challenge to be able to take up.

That''s all I''m saying.

One love.

OTBC

I certainly agree with that proposition BBB.  How blessed it would be to not only fulfil our own dreams but everyone else''s too!!!!!!!!!!!

 

 

[/quote]

[yellow hammer 0]

[quote user="CambridgeCanary"][quote user="BlyBlyBabes"]

All I''m saying Cambridge, is that if Andrew Turner really wants to own and lead NCFC into a successful future, he will have very few problems assembling 27.5m pounds (say) to do it.

He and his wife have stated that they are ready for new challenges.

Whelan, el-Fayed, Gibson, Madejski, Hayward, Edwards et al have done it. Why not Andrew?

It''s not rocket science.

It''s ambition plus passion plus nous plus strategy plus resources..........and the will to make things happen.

What a wonderful, wonderful challenge to be able to take up.

That''s all I''m saying.

One love.

OTBC

I certainly agree with that proposition BBB.  How blessed it would be to not only fulfil our own dreams but everyone else''s too!!!!!!!!!!!

 

 

[/quote][/quote]

Of course, if you did have 275 million or whatever, you''d probably want to risk just a couple of million in the beginning until you are sure exactly what you''re getting yourself into. No doubt this is exactly what the Turners are doing.