Desert Nomad Posted March 28, 2016 Share Posted March 28, 2016 Derek Robertson passed away this morning I'm hearing. Sad news, but not unexpected. United through and through. Link to comment Share on other sites More sharing options...
Mark Connolly Posted March 28, 2016 Share Posted March 28, 2016 Main points from the war and peace posted. ST has called in the interest free directors loans his father put in while running the club and these have taken priority over the soft loans at 6% interest. The club is also expecting to make a loss this season even with factoring in a semi final appearance and 1.5 million worth of player sales. As funny as it is to see the almost weekly meltdowns coming out of Tannadice,the news that the Thomson family debt has taken priority over interest paying loans certainly would call into doubt wether he has the best interest of the club at heart. I've read that full thing, but genuinely can't see this bit. I saw that they will be repaid at the first opportunity, but not sure how this equates to having "taken priority". Does it say that elsewhere and I've missed it? Link to comment Share on other sites More sharing options...
Granny Danger Posted March 28, 2016 Share Posted March 28, 2016 Derek Robertson passed away this morning I'm hearing. Sad news, but not unexpected. United through and through. Very sad. I first got to know him through non footballing circles; he was a staunch Arab and a really pleasant guy. Hadn't realised he was as old as 64, though still far too young to pass away. Link to comment Share on other sites More sharing options...
tallpaul Posted March 28, 2016 Share Posted March 28, 2016 I've read that full thing, but genuinely can't see this bit. I saw that they will be repaid at the first opportunity, but not sure how this equates to having "taken priority". Does it say that elsewhere and I've missed it? Is that not the same thing bud? Couple of points for me that catch the eye if i was Utd inclined. Operating loss of 1.2 million propped up by players sales. Obvious next question.What happens if there are no more players to sell? And probably like many, didn't realise the Thomson family were calling in the money ET invested. While the r word doesn't appear to mean admin, what happens if you don't get back at the first attempt and say do a St Mirren? Not having a pop, but I really thought Utd would be in a far healthier place with player sales but it appears they are still carrying a substanial debt and the next couple of months are vital for the club. Link to comment Share on other sites More sharing options...
Mark Connolly Posted March 28, 2016 Share Posted March 28, 2016 Is that not the same thing bud? Couple of points for me that catch the eye if i was Utd inclined. Operating loss of 1.2 million propped up by players sales. Obvious next question.What happens if there are no more players to sell? And probably like many, didn't realise the Thomson family were calling in the money ET invested. While the r word doesn't appear to mean admin, what happens if you don't get back at the first attempt and say do a St Mirren? Not having a pop, but I really thought Utd would be in a far healthier place with player sales but it appears they are still carrying a substanial debt and the next couple of months are vital for the club. Not necessarily - the first opportunity may be after the other soft loans are paid off, or via a sale of Thompson's share of the club. The operating loss is a concern, and it is pretty obvious that there are no players left to sell! We need to secure long-term funding, but the current on-pitch product makes it difficult. We're not fucked, but unless there are some big changes, it could head that way. Link to comment Share on other sites More sharing options...
Aladdin Posted March 28, 2016 Share Posted March 28, 2016 Not necessarily - the first opportunity may be after the other soft loans are paid off, or via a sale of Thompson's share of the club. The operating loss is a concern, and it is pretty obvious that there are no players left to sell! We need to secure long-term funding, but the current on-pitch product makes it difficult. We're not fucked, but unless there are some big changes, it could head that way. The first question and answer makes it clear that at least some of the Thompson interest free loans have already been repaid over other interest accruing debt. Link to comment Share on other sites More sharing options...
Gibby82 Posted March 28, 2016 Share Posted March 28, 2016 Not necessarily - the first opportunity may be after the other soft loans are paid off, or via a sale of Thompson's share of the club. The operating loss is a concern, and it is pretty obvious that there are no players left to sell! We need to secure long-term funding, but the current on-pitch product makes it difficult. We're not fucked, but unless there are some big changes, it could head that way. Thompson has his reptilian fingers crossed that Andy Robertson is sold this summer. More funds towards his reclaimed inheritance. Link to comment Share on other sites More sharing options...
Podlie Posted March 28, 2016 Share Posted March 28, 2016 Not necessarily - the first opportunity may be after the other soft loans are paid off, or via a sale of Thompson's share of the club. The operating loss is a concern, and it is pretty obvious that there are no players left to sell! We need to secure long-term funding, but the current on-pitch product makes it difficult. We're not fucked, but unless there are some big changes, it could head that way. You're no where near being fucked, just needs a bit more honesty from Thompson on who's been paid off for your fans. Link to comment Share on other sites More sharing options...
tallpaul Posted March 28, 2016 Share Posted March 28, 2016 Not necessarily - the first opportunity may be after the other soft loans are paid off, or via a sale of Thompson's share of the club. The operating loss is a concern, and it is pretty obvious that there are no players left to sell! We need to secure long-term funding, but the current on-pitch product makes it difficult. We're not fucked, but unless there are some big changes, it could head that way. As various interest free directors loans have been repaid during the year can the board explain the governance around the decision to repay these loans and why the directors believed this was in the best interests of Dundee United to repay these loans when the company are paying 6% interest to the outstanding loan note holders? Director Mike Martin explained that the decision taken was down to the way in which they restructured the finances and in his view was not a question of governance. He then went on to talk about the club's previous bank debt and the unhealthy position that the club was in as a result. Mike talked about the restructure of the finances and that the loan notes, which have interest attached, replaced the bank debt and that there was separate agreement that the Thompson family's interest free loans would be repaid at the first possible opportunity. Don't really see how you can come to that conclusion after reading that but fair doos. Was it public knowledge that the Thomson family were to be paid back what they had invested previously? I certainly wasn't aware of that. Link to comment Share on other sites More sharing options...
Mark Connolly Posted March 28, 2016 Share Posted March 28, 2016 It may not have been explicitly stated, but it's been common knowledge for a while that the Baldy was wanting some money back. The first question and answer makes it clear that at least some of the Thompson interest free loans have already been repaid over other interest accruing debt. As far as I'm aware, the Thompson loans weren't the only ones made by directors that needed to be paid back. Without knowing the ins and outs of the loans themselves, it's hard to know exactly who has and hasn't been paid back. I realise I may sound like a defender of the snake here - he may not have been doing what we all want here, but the board as a whole, and the auditors, have signed off on this, so the accusations need to spread a bit wider if there is something dodgy at work. Link to comment Share on other sites More sharing options...
tallpaul Posted March 28, 2016 Share Posted March 28, 2016 Certainly cant see him going any place either even if the r word becomes reality. Nobody is going to pay the money the Thomson family will be looking for in the Championship. We have been here and from the outside certainly doesn't look good. Notice there talking about boycotting STs on mad, while i understand punters being pissed off with ST that will only damage your chances of getting straight back up which reading between the lines is a must. Link to comment Share on other sites More sharing options...
Granny Danger Posted March 28, 2016 Share Posted March 28, 2016 We are going down and will have to accept the inevitable finacial consequences of this. That, admitedly big, issue aside i would have thought a set of accounts that showed a £4 million improvement in our finances (not including the Ciftci, McGowan and Souttar money) to be a good thing. Looking at the various comments on here, apparently it's not. Link to comment Share on other sites More sharing options...
tallpaul Posted March 28, 2016 Share Posted March 28, 2016 We are going down and will have to accept the inevitable finacial consequences of this. That, admitedly big, issue aside i would have thought a set of accounts that showed a £4 million improvement in our finances (not including the Ciftci, McGowan and Souttar money) to be a good thing. Looking at the various comments on here, apparently it's not. Link to comment Share on other sites More sharing options...
Alert Mongoose Posted March 28, 2016 Share Posted March 28, 2016 Damien Casilinouvo in for a trial. Can't see mentioned earlier. Link to comment Share on other sites More sharing options...
DA Baracus Posted March 28, 2016 Share Posted March 28, 2016 What sort of contracts are the players at United on? They must be getting decent money and surely some of the higher profile players will be on contracts longer than a year? Also do the contracts have relegation clauses in them? Link to comment Share on other sites More sharing options...
Deeboy Posted March 28, 2016 Share Posted March 28, 2016 Also do the contracts have relegation clauses in them? No. Link to comment Share on other sites More sharing options...
Milnzo Posted March 28, 2016 Share Posted March 28, 2016 39K EXPENSESSSSS Link to comment Share on other sites More sharing options...
powerhouse7 Posted March 28, 2016 Share Posted March 28, 2016 What sort of contracts are the players at United on? They must be getting decent money and surely some of the higher profile players will be on contracts longer than a year? Also do the contracts have relegation clauses in them? the highest earns will be the likes of Demel, Kawashima, Pongolle and Ofere who's contracts all run out at end of the season. Only players who'll be still signed on a decent wage will be Dixon, Anier, Paton and Bodul Link to comment Share on other sites More sharing options...
scottdeeuk Posted March 28, 2016 Share Posted March 28, 2016 Damien Casilinouvo in for a trial. Can't see mentioned earlier. How much will he cost you this time? Link to comment Share on other sites More sharing options...
RandomGuy. Posted March 29, 2016 Share Posted March 29, 2016 What sort of contracts are the players at United on? They must be getting decent money and surely some of the higher profile players will be on contracts longer than a year? Also do the contracts have relegation clauses in them? They have about nine or ten players who's contract runs out in the Summer, and only two are "youth" players. So they could have a cull of sorts if they needed too. Link to comment Share on other sites More sharing options...
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