In the last decade I have done a string of cases for and against people like Evans

who trade in distressed debt. The one thing that they have in common is that they have acquired the debt well below par value ONLY because they see an opportunity to make a fast buck. They are NOT long term investors in the commercial venture whose debt they have bought, and they are NOT sentimental.

If Piswich don't go up in the next two seasons (and getting promotion is a far less certain "industrial opportunity" than most businesses offer for a turn around of the fortunes) then things could get very interesting.

Posted By: Old Git on November 1st 2007 at 09:26:36

Message Thread

So this is the plan? (Other Football) - The King of Prussia, Nov 1, 09:22:25
- I wish that sort of thing would happen to us.... (Other Football) - phrankin, Nov 1, 09:48:07
  - I don't! (Other Football) - BerlinCanary, Nov 1, 09:53:31
    - no advantage for him to pull the plug - he is the majority shareholder at the club!! (n/m) (Other Football) - phrankin, Nov 1, 09:54:52
      - Sigh (Other Football) - BerlinCanary, Nov 1, 09:55:47
        
        haha (n/m) (Other Football) - duke of york, Nov 1, 09:57:10
  - Actually I don't (Other Football) - The King of Prussia, Nov 1, 09:51:54
    - Well when our investment is a 2 million loan, (Other Football) - phrankin, Nov 1, 09:53:57
      - You see my definition of "right royally fucked" (Other Football) - The King of Prussia, Nov 1, 09:56:29
        
        but said businessman now owns the club (Other Football) - phrankin, Nov 1, 09:58:52
        
        Except that (Other Football) - The King of Prussia, Nov 1, 10:02:07
        
        he owns 87.5% of the club - FACT (n/m) (Other Football) - phrankin, Nov 1, 10:04:08
        
        ... (Other Football) - The King of Prussia, Nov 1, 10:08:15
        
        Now that's a (Other Football) - Yellalee, Nov 1, 10:11:33
        
        the deal is fully backed by their board (n/m) (Other Football) - phrankin, Nov 1, 10:16:02
        
        yep then he will own 87.5% of the club... (n/m) (Other Football) - phrankin, Nov 1, 10:10:32
        
        So when you said (Other Football) - The King of Prussia, Nov 1, 10:28:06
        
        ignorance (Other Football) - phrankin, Nov 1, 11:59:19
        
        But we won't owe it to him you idiot, we are debt free! you should try it one day (n/m) (Other Football) - DUFFYIN, Nov 1, 09:58:06
- One of the things about all these supposed rich benefactors that most don't realise (Other Football) - BerlinCanary, Nov 1, 09:38:34
  - There is no long term money to be made in investing (Other Football) - duke of york, Nov 1, 09:42:36
    - Well that must be the plan (Other Football) - The King of Prussia, Nov 1, 09:46:13
    - Not true. As long as you can stay in the Prem, there's a packet to be made by selling up (n/m) (Other Football) - thebigfeller, Nov 1, 09:45:40
      - Surely you need to keep spending the extra revenue (Other Football) - duke of york, Nov 1, 09:47:39
        
        I refer you to the example of one Frederick Shepherd esquire (Other Football) - thebigfeller, Nov 1, 09:58:04
        
        yeah but the premiership 50 million sure does help (n/m) (Other Football) - phrankin, Nov 1, 09:48:55
        
        Not if you spend it all again (n/m) (Other Football) - BerlinCanary, Nov 1, 09:51:54
        
        And then get relegated anyway (n/m) (Other Football) - duke of york, Nov 1, 09:57:34
  - The position has improved in that (Other Football) - The King of Prussia, Nov 1, 09:41:31
    - I'm misunderstanding then - thought the 12m was for the equity? (Other Football) - BerlinCanary, Nov 1, 09:50:29
      - It's new shares that will be created (Other Football) - The King of Prussia, Nov 1, 09:53:28
        
        Ah, right, got it! (n/m) (Other Football) - BerlinCanary, Nov 1, 09:55:08
  - No our debt has been WIPED i.e we owe nobody a penny! (Other Football) - DUFFYIN, Nov 1, 09:40:41
    - Right.... like I own my house, you mean? (n/m) (Other Football) - Chelmsford Yella, Nov 1, 09:43:13
      - You are lucky to own your house without a mortgage good on you mate! (n/m) (Other Football) - DUFFYIN, Nov 1, 09:51:45
- Problem is that, with the Scum's quoted ambition, 12m is fuck all really. (n/m) (Other Football) - Snakey, Nov 1, 09:35:17
  - its about the amount Roy Keane spent on Sunderland (Other Football) - phrankin, Nov 1, 09:51:41
    - Yeah but Jim Magilton is no Roy Keane. (n/m) (Other Football) - Snakey, Nov 1, 09:54:37
      - Its sad to say, but it Looks like he is doing OK to me...... (Other Football) - phrankin, Nov 1, 09:56:18
        
        Luck. Will run out on Sunday. OTBC ! (n/m) (Other Football) - Snakey, Nov 1, 09:57:38
        
        Luck (Other Football) - The King of Prussia, Nov 1, 09:59:09
        
        Schumacher 1986 ? (n/m) (Other Football) - Snakey, Nov 1, 10:01:28
        
        No Scum last week (n/m) (Other Football) - The King of Prussia, Nov 1, 10:02:44
        
        as well. (n/m) (Other Football) - Snakey, Nov 1, 10:04:32
        
        We would have won that game with 10 men, were far to good! (n/m) (Other Football) - DUFFYIN, Nov 1, 10:00:21
        
        What against the worst team in championship history, doubt it snake boy! (Other Football) - DUFFYIN, Nov 1, 09:59:05
  - Well this is the team (Other Football) - The King of Prussia, Nov 1, 09:38:47
    - exactly. (n/m) (Other Football) - Snakey, Nov 1, 09:42:20
    - what risk? WE ARE DEBT FREE NOW, WE OWE NOTHING (Other Football) - DUFFYIN, Nov 1, 09:42:02
- Not quite sure how you got those figures KoP, but... (Other Football) - Chelmsford Yella, Nov 1, 09:27:29
  - £32m debt at 20p in the £. (Other Football) - Arizona Bay, Nov 1, 09:36:14
  - Figures came from the EDp (n/m) (Other Football) - The King of Prussia, Nov 1, 09:31:10
- In the last decade I have done a string of cases for and against people like Evans (Other Football) - Old Git, Nov 1, 09:26:36
  - Obviously it could work for everyone (Other Football) - The King of Prussia, Nov 1, 09:35:22
    - £12m doesn't guarantee a promotion. (Other Football) - Arizona Bay, Nov 1, 09:37:44
      - Indeed. You could look at Wolves for that. (n/m) (Other Football) - Snakey, Nov 1, 09:43:41
      - Were already cruising in the league without the money, imagine our squad with 2 or 3 £3mil (Other Football) - DUFFYIN, Nov 1, 09:39:52
  - Yes he will spend £18m to buy a club the size of Ipswich town (Other Football) - DUFFYIN, Nov 1, 09:28:29
- Nope, Evans as owner is paying of the £6m debt! (Other Football) - DUFFYIN, Nov 1, 09:25:13
  - Wot goes around comes around scummer...... (Other Football) - Taxi 4 Johnson, Nov 1, 09:28:02
    - Was roman Abramovich a big chelsea fan before he bought them? (Other Football) - DUFFYIN, Nov 1, 09:29:32
      - Yeah.... that Sheepshanks has shown impeccable business acumen in recent yrs hasn't he (n/m) (Other Football) - Taxi 4 Johnson, Nov 1, 09:31:39
        
        but he has more than redeemed himself now though! (Other Football) - DUFFYIN, Nov 1, 09:32:56
        
        Know much about this guy do you ? (n/m) (Other Football) - Taxi 4 Johnson, Nov 1, 09:34:21
        
        Why do I need to know about him? I couldn't care if he was bin laden so long as his money (Other Football) - DUFFYIN, Nov 1, 09:43:07
  - Don't try to join in, Duffy, this is a thread for grown-ups (n/m) (Other Football) - Old Git, Nov 1, 09:27:19

Reply to Message

In order to add a post to the WotB Message Board you must be a registered WotB user.

If you are not yet registered then please visit the registration page. You should ensure that their browser is setup to accept cookies.