Camuldonum 0 Posted May 10, 2008 http://www.eveningnews24.co.uk/content/news/story.aspx?brand=ENOnline&category=NewsSplash&tBrand=ENOnline&tCategory=NewsSplash&itemid=NOED10%20May%202008%2008%3A04%3A43%3A190 Share this post Link to post Share on other sites
Dr. Ink 0 Posted May 10, 2008 No relevance to the footy club methinks. Share this post Link to post Share on other sites
canary cherub 1 Posted May 10, 2008 It could be relevant. It suggests that there won''t be much if any more money coming from that source at the moment. But we don''t know whether he was planning to put more money in anyway. Share this post Link to post Share on other sites
kdncfc 0 Posted May 10, 2008 Wouldn''t have thought it will have any relevance to NCFC, the Turners have already made their fortune, it will probably just mean that it won''t grow so quickly in the near future. Share this post Link to post Share on other sites
canary cherub 1 Posted May 10, 2008 [quote user="kdncfc"]Wouldn''t have thought it will have any relevance to NCFC, the Turners have already made their fortune, it will probably just mean that it won''t grow so quickly in the near future.[/quote]As I understand it, a large part of their fortune is tied up in the business - they are "worth" X million, but can only release it by selling the business. Share this post Link to post Share on other sites
O.T.B.C 1 Posted May 10, 2008 Well he should have more money now, as he don''t have to employ thousands more[:D] Share this post Link to post Share on other sites
Mister Chops 7 Posted May 11, 2008 [quote user="Fat Prophet"][quote user="kdncfc"]Wouldn''t have thought it will have any relevance to NCFC, the Turners have already made their fortune, it will probably just mean that it won''t grow so quickly in the near future.[/quote]As I understand it, a large part of their fortune is tied up in the business - they are "worth" X million, but can only release it by selling the business. [/quote]Yes. My understanding is that Central Trust sell secured loans for debt consolidation purposes. The money they will make from the loan repayments will be included in the value of the business and therefore their individual net worth. However given the credit crisis at the moment and the expectation that a high percentage of loans will be defaulted on, and given that Central Trust will likely have taken second charges only on the secured loan properties as the mortgage lender will have first charge, they stand to get not very much back for the initial loans that were made; so in theory, their paper worth could be significantly eroded. But no, it probably has no impact on their "contribution" to the club. Share this post Link to post Share on other sites
YankeeCanary 0 Posted May 11, 2008 Mr. Turner is quoted as saying, “My personal view is it will be tough for another 18 months, but towards the end of 2009 we will start to see the green shoots of early growth."Kind of reminds me of Chance the Gardener''s input in "Being There" when the rich and powerful hung on to his words of, "We will see growth in the spring." At least Chauncey got the season right. Share this post Link to post Share on other sites
gazzathegreat 0 Posted May 11, 2008 Central Trust also sell unsecured loans for those without their own properties Mr Chops. Yes, a part of their business is in secured loans but not a large percentage. Contrary to what some might think the company is expanding and restructuring. Don''t think they are about to go out of business or are in any particular trouble. As for the club, they have initially been brought in to try and run it in a more financially sound way and to monitor Mr Doncaster, this was admitted at the last AGM. Share this post Link to post Share on other sites
