Bigmouth Strikes Again Posted February 18, 2018 Share Posted February 18, 2018 1 hour ago, Sarto Mutiny said: Must admit the idea amused me that people who would pay through the nose to see a concert by an actual racist would be offended by a rather lame dig at Sturgeon. ^^^^^Daily Mail reader. Link to comment Share on other sites More sharing options...
Alert Mongoose Posted February 19, 2018 Share Posted February 19, 2018 Just realised we are playing Friday, Tuesday, Friday then Tuesday again. Tough schedule but if we can get some momentum it's an opportunity. Link to comment Share on other sites More sharing options...
Granny Danger Posted February 19, 2018 Share Posted February 19, 2018 1 hour ago, Alert Mongoose said: Just realised we are playing Friday, Tuesday, Friday then Tuesday again. Tough schedule but if we can get some momentum it's an opportunity. Nothing on the United website or the BBC website about the second Tuesday game. Link to comment Share on other sites More sharing options...
Alert Mongoose Posted February 19, 2018 Share Posted February 19, 2018 Nothing on the United website or the BBC website about the second Tuesday game. Sorry, you're right (for once), it's the Tuesday after. Link to comment Share on other sites More sharing options...
GrantB878 Posted February 23, 2018 Share Posted February 23, 2018 https://www.eveningtelegraph.co.uk/fp/stephen-thompson-sell-dundee-united-training-facility-1-million/amp/?__twitter_impression=true What we making of this? Link to comment Share on other sites More sharing options...
skinny arab Posted February 23, 2018 Share Posted February 23, 2018 9 minutes ago, GrantB878 said: https://www.eveningtelegraph.co.uk/fp/stephen-thompson-sell-dundee-united-training-facility-1-million/amp/?__twitter_impression=true What we making of this? Administration postponed to next Friday. Link to comment Share on other sites More sharing options...
Dirty Arab 83 Posted February 23, 2018 Share Posted February 23, 2018 Sounds like a tax dodge [emoji33] Link to comment Share on other sites More sharing options...
ArabianKnight Posted February 23, 2018 Share Posted February 23, 2018 28 minutes ago, Dirty Arab 83 said: Sounds like a tax dodge Sounds more like they are releasing the security on it tbh. Which basically indicates 1 of 2 things. 1. The club are actually in a okay position financially and are able to sell an asset (which effectively will remain in club hands) and provide a cash injection at the same time. 2. The club are shifting assets in view of the inevitable and we're doomed DOOMED AH YELL YE Link to comment Share on other sites More sharing options...
Szamo's_Ammo Posted February 23, 2018 Share Posted February 23, 2018 Got a feeling we will sign another central midfielder-cum-rightback. Seems to happen most weeks during impending doom. Link to comment Share on other sites More sharing options...
Durnford Posted February 23, 2018 Share Posted February 23, 2018 7 minutes ago, ArabianKnight said: 2. The club are shifting assets in view of the inevitable and we're doomed DOOMED AH YELL YE My personal opinion of course; but if that were the case they would have sold the land for a nominal fee (e.g. £1 etc.) or at least a substantially reduced valuation as happened between Glasgow Rangers and Sevco I believe. Don't know the site but is the proposed £1 million a realistic valuation? If so it would presumably provide an immediate cash injection and the potential option to lease it back from the pension fund. Also presumably the pension fund are not some grey off-the-shelf dummy company set up for such a purpose.; any purchases or sales will need to be approved by the pension fund administrator who face severe penalties if they shirk their responsibilities unless, of course, this is simply a fund set up for one person i.e. Mike Martin himself in which case it becomes a little more complicated. Link to comment Share on other sites More sharing options...
Pull My Strings Posted February 23, 2018 Share Posted February 23, 2018 2 minutes ago, Durnford said: My personal opinion of course; but if that were the case they would have sold the land for a nominal fee (e.g. £1 etc.) or at least a substantially reduced valuation as happened between Glasgow Rangers and Sevco I believe. Don't know the site but is the proposed £1 million a realistic valuation? If so it would presumably provide an immediate cash injection and the potential option to lease it back from the pension fund. Also presumably the pension fund are not some grey off-the-shelf dummy company set up for such a purpose.; any purchases or sales will need to be approved by the pension fund administrator who face severe penalties if they shirk their responsibilities unless, of course, this is simply a fund set up for one person i.e. Mike Martin himself in which case it becomes a little more complicated. If anything £1m seems rather generous for Gussie Park. It's a nice facility but essentially it's just a full sized astroturf pitch with some modest changing rooms. I can't imagine it brings in a great deal of money for the club, certainly not the sort of returns you would expect on a £1m property investment, and there's no way that the land itself would be worth anywhere near that sort of money. Link to comment Share on other sites More sharing options...
punk_dfc Posted February 23, 2018 Share Posted February 23, 2018 My personal opinion of course; but if that were the case they would have sold the land for a nominal fee (e.g. £1 etc.) or at least a substantially reduced valuation as happened between Glasgow Rangers and Sevco I believe. Don't know the site but is the proposed £1 million a realistic valuation? If so it would presumably provide an immediate cash injection and the potential option to lease it back from the pension fund. Also presumably the pension fund are not some grey off-the-shelf dummy company set up for such a purpose.; any purchases or sales will need to be approved by the pension fund administrator who face severe penalties if they shirk their responsibilities unless, of course, this is simply a fund set up for one person i.e. Mike Martin himself in which case it becomes a little more complicated. A transfer at undervalue would be subject to challenge by a creditor and could be unwound. Is unlikely that there would be a transfer for a nominal value here, particularly when it appears to be secured to a creditor already (who is presumably being paid back out of the £1m). Link to comment Share on other sites More sharing options...
Granny Danger Posted February 23, 2018 Share Posted February 23, 2018 We’re raising cash to sign a big name like Sinima Pongolle to make sure we avoid relegation this season. Seems like a sound strategy. Link to comment Share on other sites More sharing options...
ArabianKnight Posted February 23, 2018 Share Posted February 23, 2018 2 hours ago, punk_dfc said: A transfer at undervalue would be subject to challenge by a creditor and could be unwound. Is unlikely that there would be a transfer for a nominal value here, particularly when it appears to be secured to a creditor already (who is presumably being paid back out of the £1m). That's why I noted they were releasing the security on it. Hardly a sign of a club in financial strife if they are paying off securities on tangible assets. Link to comment Share on other sites More sharing options...
punk_dfc Posted February 23, 2018 Share Posted February 23, 2018 That's why I noted they were releasing the security on it. Hardly a sign of a club in financial strife if they are paying off securities on tangible assets. Not sure I agree. Dundee United don't own the asset now, so that's why the security is released. Nothing to do with their financial standing.All that's happened is that United have sold an asset. The proceeds of sale will pay the previous creditor, with the balance going to the club.Without knowing the context/commercial reasoning as to the deal, it's difficult to tell whether it is good for United. Could be a good deal, where Mike Martin sees it as a good investment and works for United to sell commercially. Alternatively, could be that the club needs cash quick. Link to comment Share on other sites More sharing options...
Chateau Lafite Posted February 23, 2018 Share Posted February 23, 2018 That's why I noted they were releasing the security on it. Hardly a sign of a club in financial strife if they are paying off securities on tangible assets. Don't wish to be nosy on our neighbour's business but I don't get your logic. United are releasing the charge on Gussie park through the proceeds of the sale in presumably reimbursing the amount secured on Gussie Patk, therefore there is no longer an asset to sell and the net effect is £1m minus whatever the charge that was on it. So hopefully for you, it's a cash injection, alas with one asset less to raise funds on at a later date. I won't comment on your assertion that it's hardly a sign of a club in financial strife. I just hope you are right, it's shite if Admin comes. We know. And it's our embarrassment. Link to comment Share on other sites More sharing options...
Young gun Posted February 23, 2018 Share Posted February 23, 2018 Is this Gussie Park the same place the fair used to go to when I was a Bairn n Dundee ? Link to comment Share on other sites More sharing options...
Dirty Arab 83 Posted February 23, 2018 Share Posted February 23, 2018 Is this Gussie Park the same place the fair used to go to when I was a Bairn n Dundee ? Yeah sure is........maybe THATS the plan bring back the carnival [emoji51] Link to comment Share on other sites More sharing options...
Granny Danger Posted February 23, 2018 Share Posted February 23, 2018 11 minutes ago, Dirty Arab 83 said: Yeah sure is........maybe THATS the plan bring back the carnival I’m not going on the dodgems if Robson is anywhere near them. Link to comment Share on other sites More sharing options...
Durnford Posted February 23, 2018 Share Posted February 23, 2018 Don't know the details but based on face value I'm assuming you're replacing a hostile creditor with a friendly landlord. Likewise the rent for the site will presumably be less than the interest paid on the secured loan? Only guessing of course but it doesn't look like a disastrous piece of business. Link to comment Share on other sites More sharing options...
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