£10m a month interest?

[algeo]

"a daily rate of 9 per cent per year"

 

How does that work?

 

It means they charge the equivalent of 9% a year. But its calculated daily like interest in a normal savings account.

 

The interest is actually

 

9/365 % per day.

 

Or 9% of the average daily balance of the outstanding debt, per year.

[waddy78]

I wish them both dead.

 

By the looks of Hicks in the paper yesterday (with the syrian investor fella) looks like he wont last to long looked ill, lost wait his suit looked way to big (unless the dozy cunt bought the wrong size)

[WaltonRed]

Thanks DM

[Red Nick]

Think RBS should have there head kicked in as well

[Juan Galonso]

Rory Smith still reporting a debt of 237m today. After Chris B story yesterday all the Liverpool fans in the Dailys should be building on what Chris B wrote yesterday and said live on air on Talksport on Saturday night to crank the pressure up even more.

 

I can't believe that they would all be so foolhardy not to act on this. It seems like they are 'cutting the owners some slack' by not acting on the story that Chris B broke yesterday.

[diego]

Rory Smith still reporting a debt of 237m today. After Chris B story yesterday all the Liverpool fans in the Dailys should be building on what Chris B wrote yesterday and said live on air on Talksport on Saturday night to crank the pressure up even more.

 

I can't believe that they would all be so foolhardy not to act on this. It seems like they are 'cutting the owners some slack' by not acting on the story that Chris B broke yesterday.

 

 

Why don't you start a campaign to make Bascombe manager, or play up front with Torres, or chair the board?

[goatboy59]

 

Heh heh.

 

Do you think that's how Roy got the job? Got the image in my head of Rafa walking round town pissed in a Santa suit!

[paddyberger15]

If these two cunts could currently pass the Premier Leagues Fit and Proper Owners test, than anybody can. There should be ongoing assessments as to the suitability and fitness of ownership.

As I've said before, physical harm is the only thing that will sort these two out. Kidnap them and their fucking Sons and torture the cunts. Beat them up badly every day until the take over is complete. Then when it is, shoot them and leave them in a field.

[Guest The Chimp]

Can someone rep PB for me and I'll return the favour.

[Guest davelfc]

Can someone rep PB for me and I'll return the favour.

 

Done but I was going to do so anyway so no need to return.

[Guest The Chimp]

Cheers Dave. And a bit off topic but for any Aussies on here; Liverpool's greatest goals on One HD (Aldo has just scored against Forest in the semi).

[Trumo]

Heh heh.

 

Do you think that's how Roy got the job? Got the image in my head of Rafa walking round town pissed in a Santa suit!

 

That gives me the image of Rafa in a train carriage pretending to be a rasta!

[Delmar]

The debt as of 31st July was £266m, We have to pay £7.5m on 15/8/10 and another £7.5m on 31/8/10.

 

Do you know what that consists of? Interest only (for what period if so), refinancing costs, anything else?

 

If there is no sale of the club by that date the debt on the club will be £282.4m.

 

If we make the above payments, how does the debt go up with roughly the same amount? What is the link to the sale (apart from the obvious, new owner pays off the debt)?

[dwesty]

It's more in the vicinity of £40 million per year.

 

Still a lot of money though.

[Royal Family]

It's more in the vicinity of £40 million per year.

 

Still a lot of money though.

 

Plus the debt rearrangement fees which were £30m last time (for, what, six months? twelve?). So that's at least £70m a year. Plus the compound interest on the 'loans' made by the cowboys.

 

Atk is right. if the takeover doesn't happen, we're no longer viable as a club.

[dave u]

Just a quick point on this. Just because we are paying £10m a month, doesn't translate to £120m a year as the extension was a six month one, and runs out in October. In that six month period, we are paying £10m a month, meaning the debt will have risen by £60m since April. It's already much more than the 237m being reported in the Telegraph today.

 

The agreement is there to force a sale (as well as for RBS to line their pockets of course), and although it looks like we're close to that happening, you have to be wary about the report by Mullock in the Sunday Mirror saying the owners will fight the sale in court. Mullock gets his info from the Hicks camp, so it tells you that they don't plan on going quietly.

 

It really is a fucking scandal, I'm disappointed that more isn't being made of it by the press to be honest.

 

I'm hoping that SoS are looking into it and are preparing to get some kind of statement out, as they are in the best position to then get the national and local media on it.

 

If they aren't gone by October, God knows what will happen. If they get another deal like this one, or worse, we're genuinely, seriously fucked.

[coop]

Just a quick point on this. Just because we are paying £10m a month, doesn't translate to £120m a year as the extension was a six month one, and runs out in October. In that six month period, we are paying £10m a month, meaning the debt will have risen by £60m since April. It's already much more than the 237m being reported in the Telegraph today.

 

The agreement is there to force a sale (as well as for RBS to line their pockets of course), and although it looks like we're close to that happening, you have to be wary about the report by Mullock in the Sunday Mirror saying the owners will fight the sale in court. Mullock gets his info from the Hicks camp, so it tells you that they don't plan on going quietly.

 

It really is a fucking scandal, I'm disappointed that more isn't being made of it by the press to be honest.

 

I'm hoping that SoS are looking into it and are preparing to get some kind of statement out, as they are in the best position to then get the national and local media on it.

 

If they aren't gone by October, God knows what will happen. If they get another deal like this one, or worse, we're genuinely, seriously fucked.

 

Depends on the terms they agreed to Dave as to whether or not they contest the sale.

 

When they got the extension for the loan on RBS they will have obviously needed to sign a contract it seems agreeing to the board having the say on the sale.

 

If they then decide to contest the sale of the club then obviously they are in breach of the terms and would have to suffer the consequence of that.

 

If they do contest the sale though i would imagine RBS are still in a position to ask for the debt to be repaid and therefore the owners would have to find the money for that as well as the expenses for the court battle.

[StevieH]

It is fucking scandalous and SOS should release a statement, but will they want to rock the boat with RBS if they are trying to acquire a stake in the club in the future?

[usernameunknown]

 

If they aren't gone by October, God knows what will happen. If they get another deal like this one, or worse, we're genuinely, seriously fucked.

 

I agree, these figures look worringly "out of business" like if they're here much longer. Or "at best" every asset we've got sold in January and we get relegated.

 

I'll know no doubt get called hysterical but people need to look at the figures, we cant go on like this, it's not do-able.

 

We desperately need RBS's help.

[Carra_is_legend]

We desperately need RBS's help.

 

Another 6 months extension on £10m/month interest? No thanks.

 

We need to get sold, that is the only way out.

 

And keep everything crossed the new guy(s) will be better than C&A.

 

Our current position is un fucking imaginable - just shows RBS are also cunts who are focussed on getting as many millions as possible out of us before they lose our interest. Also, worryingly, shows they probably are willing to extend the deal as long as we pay their huge interests.

[usernameunknown]

Another 6 months extension on £10m/month interest? No thanks.

 

We need to get sold, that is the only way out.

 

And keep everything crossed the new guy(s) will be better than C&A.

 

Our current position is un fucking imaginable - just shows RBS are also cunts who are focussed on getting as many millions as possible out of us before they lose our interest. Also, worryingly, shows they probably are willing to extend the deal as long as we pay their huge interests.

 

Think you've completely missed the point of what I was saying. We need their "help". Not loans.

 

They can squeeze the owners out and we need them to do just that.

[coop]

Regards this claim regards the debt from Bascombe.

 

We are in the sale process and news of the debt being £10m a month means that Gillett and Hicks are desperate to sell.

 

Do you not think that if Bascombe had printed a pack of lies that Gillett and Hicks would not have their lawyers onto it.

 

Bascombe had been specific at where the figure of £10m a month comes from and it could quite easily be denied and court action taken if it was false.

[RobbieOR]

I cant see us getting to October without being sold.

[Dante]

Don't know if this has been posted yet

 

LFC Debt - Under Hicks and Gillett - Not A Penny More!

[lifetime fan]

Just a quick point on this. Just because we are paying £10m a month, doesn't translate to £120m a year as the extension was a six month one, and runs out in October. In that six month period, we are paying £10m a month, meaning the debt will have risen by £60m since April. It's already much more than the 237m being reported in the Telegraph today.

 

The agreement is there to force a sale (as well as for RBS to line their pockets of course), and although it looks like we're close to that happening, you have to be wary about the report by Mullock in the Sunday Mirror saying the owners will fight the sale in court. Mullock gets his info from the Hicks camp, so it tells you that they don't plan on going quietly.

 

It really is a fucking scandal, I'm disappointed that more isn't being made of it by the press to be honest.

 

I'm hoping that SoS are looking into it and are preparing to get some kind of statement out, as they are in the best position to then get the national and local media on it.

 

If they aren't gone by October, God knows what will happen. If they get another deal like this one, or worse, we're genuinely, seriously fucked.

 

If this is true, and bascombe is hardly blemish free, then why would other journos just report what he's saying without their 'sources' confirming it or seeing the 'evidence' atk has?