Latheal Posted 31 March, 2015 Share Posted 31 March, 2015 As per the OS, the money is still owed to Vibrec. I'll take their sentance over the Echo. It's a good point but if there is no longer a charge on Companies House as others have stated (from Vibrec), wouldn't that suggest it's been paid off? That kind of makes sense, paid off by Kat in form of a loan at lower interest (or to be converted into equity at later date), releasing cash for the cash flow as we no longer have to pay that back straight away (assuming Kat not taking monthly repayments). Or am I missing something? Link to comment Share on other sites More sharing options...
VectisSaint Posted 31 March, 2015 Share Posted 31 March, 2015 As per the OS, the money is still owed to Vibrec. I'll take their sentance over the Echo. Down to you, carry on believing there is a charge if you want, despite clear evidence to the contrary. Echo got the details from Saints, but were a bit premature publishing it. Link to comment Share on other sites More sharing options...
RedFear Posted 31 March, 2015 Share Posted 31 March, 2015 A very strange interview. even stranger is a club on a 'sound financial footing' as he described (under Cortese, of course) needing a loan, some say unknown to the owner, from Vibrac unless of course this guy is just toeing his mates line and talking pure bull**** I wonder which one it is Link to comment Share on other sites More sharing options...
SarniaSaint Posted 31 March, 2015 Share Posted 31 March, 2015 in some circumstances...it's good to have debts, and it doesn't mean you have to pay them directly off with money from a profitable years trading, either.... This is true as long as it is secured against a tangible asset and you can service the debt.............think the club know what they are doing on the finances........ Link to comment Share on other sites More sharing options...
Gemmel Posted 31 March, 2015 Share Posted 31 March, 2015 The OS States we still owe the money and no reports suggest the loan from KL has paid this off. The loan is paid off.... go look for yourself.....it's free Link to comment Share on other sites More sharing options...
doggface Posted 1 April, 2015 Share Posted 1 April, 2015 That David Bick article is so spun it's untrue. Disregard the **** questioning the director loan which paid off the vibrac loan at some extortionate interest rate sounds like good business to me. not to mention it was his boss who sanctioned it! Couldn't make it up Link to comment Share on other sites More sharing options...
CanadaSaint Posted 1 April, 2015 Share Posted 1 April, 2015 The loan (debt) was taken out to help with cash flow. The question is...Was Nic a bit naughty? Distinctly possible. In fact it could have been the straw that broke the camel's back for Katharina and her advisors - IF Cortese requested an injection of funds, was denied, and went another route. After all, he was never a man to accept No when he wanted to hear Yes. Link to comment Share on other sites More sharing options...
St Chalet Posted 1 April, 2015 Share Posted 1 April, 2015 (edited) KL didn't wasn't aware of a number of financial commitments that had been entered into. It was because of these governance issues she wanted a broader and accountable board. There were a lot of skeletons in the cupboard when Cortese left. As others have pointed out the secured loan from Vibrac has been repaid. Edited 1 April, 2015 by St Chalet Link to comment Share on other sites More sharing options...
Turkish Posted 1 April, 2015 Share Posted 1 April, 2015 (edited) That David Bick article is so spun it's untrue. Disregard the **** questioning the director loan which paid off the vibrac loan at some extortionate interest rate sounds like good business to me. not to mention it was his boss who sanctioned it! Couldn't make it up �� David Bick football expert The website of the company he is MD of describe themselves as experts in protecting reputations on individuals and companies. Funnily enough he burst onto the scene when cortese 'resigned' and has been gobbing off from that day forth. Although I beleive he was employed by the club before that and the man behind the gushing articles on cortese in the press. I'll let you lot work it out, it ain't hard though. Edited 1 April, 2015 by Turkish Link to comment Share on other sites More sharing options...
trousers Posted 1 April, 2015 Share Posted 1 April, 2015 As per the OS, the money is still owed to Vibrec. I'll take their sentance over the Echo. Link to comment Share on other sites More sharing options...
The9 Posted 1 April, 2015 Share Posted 1 April, 2015 Ok, layman's terms here. From what I can see, with my "definitely not an accountant" brain on, the charge was still outstanding in the accounting period to 30/6/14 but has been paid off since (MR04 above?)? Also, if these accounts are to 30/6/14, how come so many places are reporting that none of the transfers are included in the profit we've announced? Lambert was sold on June 2nd (£4m) and Shaw on June 27th (£27m). Link to comment Share on other sites More sharing options...
Window Cleaner Posted 1 April, 2015 Share Posted 1 April, 2015 Ok, layman's terms here. From what I can see, with my "definitely not an accountant" brain on, the charge was still outstanding in the accounting period to 30/6/14 but has been paid off since (MR04 above?)? Also, if these accounts are to 30/6/14, how come so many places are reporting that none of the transfers are included in the profit we've announced? Lambert was sold on June 2nd (£4m) and Shaw on June 27th (£27m). And it is specifically stated somewhere that these accounts include 32 million £ of player sales. Initially there was confusion because some seemed to believe that the accounts reflect the UK tax year and not Saint's traditional financial year of 1 July to 30 June, they were of course wrong. Link to comment Share on other sites More sharing options...
The9 Posted 1 April, 2015 Share Posted 1 April, 2015 And it is specifically stated somewhere that these accounts include 32 million £ of player sales. Initially there was confusion because some seemed to believe that the accounts reflect the UK tax year and not Saint's traditional financial year of 1 July to 30 June, they were of course wrong. Lazy media, shock. That charge being removed after the accounting period is right though? Link to comment Share on other sites More sharing options...
Window Cleaner Posted 1 April, 2015 Share Posted 1 April, 2015 (edited) Lazy media, shock. That charge being removed after the accounting period is right though? So it seems yes. Sometime in September apparently, few weeks after we appointed a new financial officer. Edited 1 April, 2015 by Window Cleaner Link to comment Share on other sites More sharing options...
CityRanger Posted 1 April, 2015 Share Posted 1 April, 2015 In this City Am report (posted on another thread) http://www.cityam.com/212830/saints-go-marching-profitability it says KL debt has risen to £70m? But the general consensus on other reports is that the debt stands at £50m. Seeing that Jim Lucas (club employee) is retweeting a link to the above report do we think it's 50 or 70? ? Link to comment Share on other sites More sharing options...
Redslo Posted 1 April, 2015 Share Posted 1 April, 2015 http://www.telegraph.co.uk/sport/football/teams/southampton/11506759/Southampton-owner-staves-off-mass-player-sale-by-lending-club-an-extra-20-million.html Jeremy Wilson has, in the past, demonstrated that he has access to reliable information about Southampton. He says that the Vibrac loan was paid off and that the club debt stands at 50 million all of which is owed to Liebherr. Link to comment Share on other sites More sharing options...
CB Fry Posted 1 April, 2015 Share Posted 1 April, 2015 http://www.telegraph.co.uk/sport/football/teams/southampton/11506759/Southampton-owner-staves-off-mass-player-sale-by-lending-club-an-extra-20-million.html Jeremy Wilson has, in the past, demonstrated that he has access to reliable information about Southampton. He says that the Vibrac loan was paid off and that the club debt stands at 50 million all of which is owed to Liebherr. Good read. Loving the comparison to QPR. Truly, we have been blessed. Link to comment Share on other sites More sharing options...
Redslo Posted 1 April, 2015 Share Posted 1 April, 2015 Good read. Loving the comparison to QPR. Truly, we have been blessed. I feel slightly bad for the owner of QPR. Everyone says that he is a nice person. I can't help but feel that he has been the victim of successive con artist managers each of who convinced him that spending lots of money on over the hill players was the way to go. Of course, he should have learned his lesson the first time. Link to comment Share on other sites More sharing options...
SarniaSaint Posted 2 April, 2015 Share Posted 2 April, 2015 I am interested in knowing who and if they are still around the appointments that took place on 08/07/2014 and 11/08 2014........any one know??? Link to comment Share on other sites More sharing options...
SarniaSaint Posted 2 April, 2015 Share Posted 2 April, 2015 http://www.telegraph.co.uk/sport/football/teams/southampton/11506759/Southampton-owner-staves-off-mass-player-sale-by-lending-club-an-extra-20-million.html Jeremy Wilson has, in the past, demonstrated that he has access to reliable information about Southampton. He says that the Vibrac loan was paid off and that the club debt stands at 50 million all of which is owed to Liebherr. TY for the link ..........was great reading Link to comment Share on other sites More sharing options...
Gemmel Posted 2 April, 2015 Share Posted 2 April, 2015 I am interested in knowing who and if they are still around the appointments that took place on 08/07/2014 and 11/08 2014........any one know??? But it tells you on the image David Bence was appointed CFO and is still here (Article from him in this weeks City AM) and Gareth Rodgers was terminated as Club secretary so he could take up his role as CEO Link to comment Share on other sites More sharing options...
SarniaSaint Posted 2 April, 2015 Share Posted 2 April, 2015 But it tells you on the image David Bence was appointed CFO and is still here (Article from him in this weeks City AM) and Gareth Rodgers was terminated as Club secretary so he could take up his role as CEO OK...........so when was the new club secretary announced?? never saw it before . Link to comment Share on other sites More sharing options...
Redslo Posted 3 April, 2015 Share Posted 3 April, 2015 OK...........so when was the new club secretary announced?? never saw it before . The same day. Link to comment Share on other sites More sharing options...
Redslo Posted 17 April, 2015 Share Posted 17 April, 2015 I have been reviewing the official financial statements for the fiscal year ending 30/6/14. They were filed yesterday. Payroll, including social security and other pension costs, has increased from £47,059,505 to £62,951,136. In 2013, player salaries were approximately 3/4 of the total salary so that would put them at £47 million which would mean that we are no where near the salary cap last year. On the other hand, if the rate of growth continued into this year we would be pushing the salary cap. However, I doubt we actually increased player salaries by 33% over last season. This suggests to me that, baring another profitable player trading summer, our salary cap for next year will be around the standard £60 million plus income from Europe, if any, and that we will have no trouble staying under that limit. Link to comment Share on other sites More sharing options...
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