Re: Chester must go now : Tue Sep 22, 2020 9:52 pm  

I have a question and I admit I don’t know the answer but we are constantly being told that the club is short of money and therefore needs to reduce the wages. We are currently paying for a loan for the ground which was overvalued allegedly therefore I presume this is swallowing a large chunk of our income. It would be interesting to know what percentage it is but this will never be disclosed but it must have a major impact on the club’s finances.

Re: Chester must go now : Tue Sep 22, 2020 10:03 pm  

Scarlet Pimpernell wrote:

I have a question

I admit I don’t know the answer

but this will never be disclosed.

FFS! Get a life.

Re: Chester must go now : Tue Sep 22, 2020 10:34 pm  

I do thanks and it fortunately it does not require me to resort to base language rather than debate. If you want to blindly accept everything fed to you then go for it because currently you have many weeks of poor performances to defend.

[PopTart]

Re: Chester must go now : Tue Sep 22, 2020 10:49 pm  

Scarlet Pimpernell wrote:

I have a question and I admit I don’t know the answer but we are constantly being told that the club is short of money and therefore needs to reduce the wages. We are currently paying for a loan for the ground which was overvalued allegedly therefore I presume this is swallowing a large chunk of our income. It would be interesting to know what percentage it is but this will never be disclosed but it must have a major impact on the club’s finances.

Firstly, why would it be disclosed to you? It's none of your business.
Secondly, as you say "allegedly" "presume"..... And then "must have"
They don't add up do they.

Re: Chester must go now : Wed Sep 23, 2020 1:07 am  

Are we being constantly told the club is short of money and needs to reduce reduce wages? We are all aware that the club income has dropped due to the present situation and that like other clubs there have been wage cuts and furloughing and I'm sure some belt tightening definitely no surprises with that.

Buying or renting your home, and Belle Vue is Wakefield's home tends to be your biggest outgoing so should we be surprised the mortgage takes a big chunk of the income, I'm not surprised at the month end when my chunk of brass leaves my account the longer I pay the greater the asset

A pointless post from SP imo and looks a little like stirring

Re: Chester must go now : Wed Sep 23, 2020 5:56 am  

PopTart wrote:

Firstly, why would it be disclosed to you? It's none of your business.
Secondly, as you say "allegedly" "presume"..... And then "must have"
They don't add up do they.

He didn't say it was any of his business, he simply expressed an interest in the amount of money the ground was taking which presumably has an impact on players wages and recruitment, as a fan surely he's entitled to show an interest in these matters which might explain why there's so much disagreement among the fans, fwiw i'm sure he deliberately chose the words allegedly,and presume carefully so as not to be accused of making false rumours and be the target of people like yourself that won't have anything remotely said criticising the club or Carter, because like the rest of us he doesn't know as the CEO seems to have decided that he no longer needs the fans forum as a tool for his own ends.

Re: Chester must go now : Wed Sep 23, 2020 6:09 am  

Its not a rumour that the Club borrowed money to buy Belle Vue its a fact, its reality that all expenditure has a knock on effect to every part of your budget. If they were not buying the land they'd be paying rent still a cost impacting on your budget. As for wanting to know the percentage, what benefit to an individual is that? Property rental or purchase is one of the biggest outgoings be it residential or business so SP is right in guessing its a big chunk of the budget, a bit of an obvious statement from SP

Re: Chester must go now : Wed Sep 23, 2020 6:19 am  

RickK wrote:

Its not a rumour that the Club borrowed money to buy Belle Vue its a fact, its reality that all expenditure has a knock on effect to every part of your budget. If they were not buying the land they'd be paying rent still a cost impacting on your budget. As for wanting to know the percentage, what benefit to an individual is that? Property rental or purchase is one of the biggest outgoings be it residential or business so SP is right in guessing its a big chunk of the budget, a bit of an obvious statement from SP

Thanks for the insight as to how things are done financially and the implications of borrowing money, maybe he just wants to cause a bit of mischief, or maybe as a paying fan he's just showing a bit of interest in the running of the club and the impact it's having financially with regards other financial aspects of the club, don't see your problem really.

Re: Chester must go now : Wed Sep 23, 2020 7:11 am  

If he is that interested he should write to Michael and raise the issue with him direct, SP just seems surprised where the biggest chunk of the money goes. Why am I bothered; his suggestion of the rumour when we all know its a fact, mischief making highly likely from SP. No more to be said on this one.

Re: Chester must go now : Wed Sep 23, 2020 7:43 am  

To Scarlet and some others

Lets put you all right here. Yes the club borrowed 3.1 Million to buy BV and old super bowl site.

Yes it has to be paid back to the lender which in this case is WMDC

However there is a 5 year payment holiday so roughly the club still has three and half years before they have to start paying the loan. Therefore right now buying back the ground dosnt cost the club a penny. So Scarlet I hope that puts you right.

Unfortunately, this loan could be quite a financial millstone around the club when payments eventually need to start. The plan is the clubs potential saviour Colin Makie will get further planning concessions at Newmarket. He will then pay off this loan before the payments kick in. He will also supply considerable funds to upgrade Belle Vue. My own opinion on this, knowing the track record of Makie, is good luck with that !.