We clearly are not signing anyone in January

[brendywendy]

Wycombe,
Presumably the overdraft was repaid so that the chairman would be under less pressure from the banks regarding the printing business?
If so it could be argued that the football club was in fact subsiding other areas and that by repaying the bank we reduced the amount available for buying players which in turn means that as a club we are contracting rather than expanding our horizons.
That's fine because at the moment he owns the club and it just emphasises how irrelevant we fans are in the process other than chipping in our money to be members (with no say).
BTW please do not tell me that that the bank overdraft or loan had to be repaid-the hotel and ground are massive securities and I feel sure that it was a voluntary decision taken by our chairman.

credit crunch?
the bank-in view of world credit problems reassessed the various loans in had out, and considered ours to be too risky-due to the nature of football as a business, and called it back as was its right.
the end

Nonsense.
Fixed assets of the stadium
Assets of players
Regular income stream.
The type of company that banks were more than ready to lend to.
At that time our own bank was readily prepared to lend to our company and to many others and the world of commerce did not just stop.

your company isnt a football club, and i think you underestimate the panic at teh banks regarding some of its more dodgy looking loans to football clubs going/gone into insolvency.
the bank called its 7 million overdraught back. FACT. THE END

[BR2]

Wycombe,
Presumably the overdraft was repaid so that the chairman would be under less pressure from the banks regarding the printing business?
If so it could be argued that the football club was in fact subsiding other areas and that by repaying the bank we reduced the amount available for buying players which in turn means that as a club we are contracting rather than expanding our horizons.
That's fine because at the moment he owns the club and it just emphasises how irrelevant we fans are in the process other than chipping in our money to be members (with no say).
BTW please do not tell me that that the bank overdraft or loan had to be repaid-the hotel and ground are massive securities and I feel sure that it was a voluntary decision taken by our chairman.

The club said at the time that the bank asked them to repay it. Obviously we only have their word for it. As for your comments about paying it back so that the banks would put less pressure on regarding the print business makes the huge assumption that they use the same bank for both businesses. In my opinion that is unlikely.

I agree that there is certainly more than one bank involved but each one would have known the financial position of the various other companies.
I remain convinced that the smokescreen of the credit crunch was used to tell us that the debt should be repaid and IIRC it was never portrayed to us that it HAD to be repaid but that the club took the decision to do so (when still flush with Sky money).

[brendywendy]

no- the club was explicit in its statements that the overdraught had been recalled, by teh bank

[BR2]

In response to brendy I'm sorry mate there is no nice way of saying it but you don't know what you are talking about.

[brendywendy]

LOL!

but thats just not true- the reports at the time are still on various club related websites- just look for them.
so actuallly- you are the one who is spouting nonsense, not i

[ZacNaloen]

Fixed assets of the stadium - perhaps, certainly not worth as much as 4 years ago
Assets of players - following relegation the players will have had to be sold anyway due to requiring more loans to pay their wages, so definitely not a safe collateral, the fact we had to sell players to pay off the loan proves that alone
Regular income stream. - No Massively decreased income stream from the year before, with an overhead costs looking to put us well into the negative figures following relegation.


Was your company looking set to make millions in losses every year when you were being loaned to?

[Royal Lady]

Could someone give me some examples of other clubs who had their loans called in by the banks please? And what has happened to them?

[Wycombe Royal]

In response to brendy I'm sorry mate there is no nice way of saying it but you don't know what you are talking about.

Brendy is right - the club said the bank had recalled it. It was discussed to death at the time. Obviously we only have their word for it, but that is what they said.

It could be that the bank saw that we had a suplus of cash having been in the Premiership and took the opportunity to get their moey back, as at the time we had just been relegated and they knew that the surplus money wouldn't be around for long.

[Wycombe Royal]

Could someone give me some examples of other clubs who had their loans called in by the banks please? And what has happened to them?

Different clubs, different banks, different scenarios. Our bank saw the opportunity to get it's money back and took it, thus removing their risk.

[brendywendy]

Could someone give me some examples of other clubs who had their loans called in by the banks please? And what has happened to them?

only if you could give me some examples of club s relegated from the prem, who managed to carry on paying silly wages, buying expensive players, not get relegated further/gone into insolvency/making huge losses?

[Royalee]

Could someone give me some examples of other clubs who had their loans called in by the banks please? And what has happened to them?

only if you could give me some examples of club s relegated from the prem, who managed to carry on paying silly wages, buying expensive players, not get relegated further/gone into insolvency/making huge losses?

'Carry on' ??? We never spent when we went up anyway!

[Royal Lady]

Could someone give me some examples of other clubs who had their loans called in by the banks please? And what has happened to them?

only if you could give me some examples of club s relegated from the prem, who managed to carry on paying silly wages, buying expensive players, not get relegated further/gone into insolvency/making huge losses?

I thought someone on here said that other clubs had their loans recalled by banks - I was just wondering who they were and how they have suffered or whatever.

[ZacNaloen]

Most clubs have restructured their repayment plans, having to do this isn't great for your future chances of getting credit at favourable rates though.

[brendywendy]

Could someone give me some examples of other clubs who had their loans called in by the banks please? And what has happened to them?

only if you could give me some examples of club s relegated from the prem, who managed to carry on paying silly wages, buying expensive players, not get relegated further/gone into insolvency/making huge losses?

'Carry on' ??? We never spent when we went up anyway!

i think 30+ million wage bill, plus breaking our record transfer every season, surely qualifies as such
maybe the blinkers have obscured your view of it

[BR2]

Fixed assets of the stadium - perhaps, certainly not worth as much as 4 years ago
Assets of players - following relegation the players will have had to be sold anyway due to requiring more loans to pay their wages, so definitely not a safe collateral, the fact we had to sell players to pay off the loan proves that alone
Regular income stream. - No Massively decreased income stream from the year before, with an overhead costs looking to put us well into the negative figures following relegation.


Was your company looking set to make millions in losses every year when you were being loaned to?

You missed out the little matter of the hotel which always seems to be fully booked and is a security of some substance and don't forget the media centre that had in excess of £3,000,000 spent on it must be pretty good as collateral.
Not many clubs have a massive hotel under their ownership as well as owning the stadium and ground outright-within the world of football banks would be prepared to lend to us much more so than most others.

[Snowball]

[

You missed out the little matter of the hotel which always seems to be fully booked and is a security of some substance and don't forget the media centre that had in excess of £3,000,000 spent on it must be pretty good as collateral.
Not many clubs have a massive hotel under their ownership as well as owning the stadium and ground outright-within the world of football banks would be prepared to lend to us much more so than most others

False Positive. Just because there are these pieces of collateral doesn't make interest rates lower
or repayments easier. Essentially, spending serious money only pays off if we go up. We have to spend
a certain amount to be mid-table/avoid a relegation fight (but look at Middlesboro) but it usually
needs a lot of money and a bit of luck to get promoted. Fail and you have a debt to be cleared

[Yellowcoat]

BR2 and RL again showing their lack of financial knowledge of the real world. Even if the bank was prepared to lend against the hotel and ground why should RFC take the risk in this financial climate when if we did not gain promotion it may need paying back again.
No wonder RL just makes the tea for her family business!

[ZacNaloen]

Fixed assets of the stadium - perhaps, certainly not worth as much as 4 years ago
Assets of players - following relegation the players will have had to be sold anyway due to requiring more loans to pay their wages, so definitely not a safe collateral, the fact we had to sell players to pay off the loan proves that alone
Regular income stream. - No Massively decreased income stream from the year before, with an overhead costs looking to put us well into the negative figures following relegation.


Was your company looking set to make millions in losses every year when you were being loaned to?

You missed out the little matter of the hotel which always seems to be fully booked and is a security of some substance and don't forget the media centre that had in excess of £3,000,000 spent on it must be pretty good as collateral.
Not many clubs have a massive hotel under their ownership as well as owning the stadium and ground outright-within the world of football banks would be prepared to lend to us much more so than most others.

All of which ignores the point that the club don't want to be taking out loans unless they absolutely have to to survive.

[Royal Lady]

You're too pathetic for words Yellowcoat.

[Pseud O'Nym]

Historically, the club has been able to manage any ongoing deficit thanks to a bank overdraft facility. However, as a result of the economic climate, this summer the club was asked to repay the total £7,500,000 overdraft, and we also needed to cover the £6,265,000 loss from last season. In order to help repay that total of £13,765,000, we raised £11,000,000 from the sales of Kevin Doyle, Stephen Hunt and Andre Bikey

I think it would be pretty unlikely that the club would lie about the doings of their bank in a public statement.