Manwork04
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That's nothing it's been worse than that!
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Rule Britannia
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NTFC Nut
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The club owes more money now than it did then.
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forever cobb
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Posts: 49
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David and his dad has kept us afloat i remember the sad days at the county ground great atmosphere and saint graham carr and the dire times in a ramshackle ground and NO money, we're in a better state now and hopefully we will push on with the new owners. forever a cobb always optimistic !!
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threeinabed
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Correct me if I'm wrong, but two of the past three seasons have returned profits. Cardoza wasn't the best chairman by any means, but he is far from the worst.
you are wrong the club was funded by DC to the tune of around £8m - that isnt a profit.
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Weststandview
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The club owes more money now than it did then.
We want to be competitive, have better players and facilities - but the extra cash wasn't coming from gate receipts or TV money ? The gap in the money has to be filled from somewhere. We haven't been on the brink of insolvency for the last 12 years.
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GrangeParkCobbler
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you are wrong
the club was funded by DC to the tune of around £8m - that isnt a profit.
£5.7 million I think was the figure quoted in the latest set of accounts. Thats the amount of LOANS made to the club by the Chairman......So Cardoza put that money in over 13 years (and it hasn't moved greatly over the past few), and now he gets his money back.......
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The Hotel End GTA Champion 2006/7, 2007/8, 2011/12, 2012/13 and 2018/19
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Monkey
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To play devils advocate/present a balanced arguement... DC was held up for so long by council red tape, but admittedly ballsed up when the opportunity eventually presented itself. I dont proclaim to know details, and I know how things can go wrong (and out of your control) with any big project, so I won't ever be as harsh on him as a lot of you have been. Also, he got us out of a hole 12 years ago for which he should be remembered, and kept us afloat. I dont think anyone can deny that he made very good manager appointments (on paper), and usually backed them with decent funds. With the exception of limiting Stuart Gray at a key stage, I dont think we can blame DC for our lack of success on the pitch.
For me, it now comes down to this sale. If it works out, then hes done the right thing and had the best interests of the club at heart, and helped us to move forward (saving us, persisting with and eventually pushing through the agreement for the redevelopment, and finding/selling to the right people who can take it to the next level). If its doesnt work out, then he's probably killed our club.
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guest49
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and now he gets his money back.......
+VAT hopefully, unless he's decided he has little hair left to lose. It'll be interesting to see if the transaction becomes fully public or not but you'll be the one to find out.
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GrangeParkCobbler
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To play devils advocate/present a balanced arguement... DC was held up for so long by council red tape, but admittedly ballsed up when the opportunity eventually presented itself. I dont proclaim to know details, and I know how things can go wrong (and out of your control) with any big project, so I won't ever be as harsh on him as a lot of you have been. Also, he got us out of a hole 12 years ago for which he should be remembered, and kept us afloat. I dont think anyone can deny that he made very good manager appointments (on paper), and usually backed them with decent funds. With the exception of limiting Stuart Gray at a key stage, I dont think we can blame DC for our lack of success on the pitch.
For me, it now comes down to this sale. If it works out, then hes done the right thing and had the best interests of the club at heart, and helped us to move forward (saving us, persisting with and eventually pushing through the agreement for the redevelopment, and finding/selling to the right people who can take it to the next level). If its doesnt work out, then he's probably killed our club.
Good post Monkey, though according to the 'worst 12 months' interview DC maintains that none of the problems have been his fault. So apart from the bit saying he's ballsed up its a good post!!
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The Hotel End GTA Champion 2006/7, 2007/8, 2011/12, 2012/13 and 2018/19
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JollyCobbler
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To play devils advocate/present a balanced arguement... DC was held up for so long by council red tape, but admittedly ballsed up when the opportunity eventually presented itself. I dont proclaim to know details, and I know how things can go wrong (and out of your control) with any big project, so I won't ever be as harsh on him as a lot of you have been. Also, he got us out of a hole 12 years ago for which he should be remembered, and kept us afloat. I dont think anyone can deny that he made very good manager appointments (on paper), and usually backed them with decent funds. With the exception of limiting Stuart Gray at a key stage, I dont think we can blame DC for our lack of success on the pitch.
For me, it now comes down to this sale. If it works out, then hes done the right thing and had the best interests of the club at heart, and helped us to move forward (saving us, persisting with and eventually pushing through the agreement for the redevelopment, and finding/selling to the right people who can take it to the next level). If its doesnt work out, then he's probably killed our club.
Nicely put.
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lift tower
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A+ he's brought the fans together (they all have to sit in the same stand now)
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St Edmundsbury Cobbler
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Ungraded
We're a league below where we were when he arrived
Poor timing on managerial changes and poor choice of managers (since Calderwood/Deehan and until Wilder)
We've very nearly lost our football league status three times under his tenure
Our little home has lost a wall and we have a huge TV in the corner that's too big for the room.
As for the redevelopment, I stopped being excited about this years ago. £12m could have overseen Sixfields being demolished and totally rebuilt. For all that's been spent on it at the moment, we've gone back 20 years.
All that's missing is the Duckboards.
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2022/23 Prediction League Champion 2022/23 Guess The Attendance Champion
Claret & White - Nothing Else Matters
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Grove
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To play devils advocate/present a balanced arguement... DC was held up for so long by council red tape, but admittedly ballsed up when the opportunity eventually presented itself. I dont proclaim to know details, and I know how things can go wrong (and out of your control) with any big project, so I won't ever be as harsh on him as a lot of you have been. Also, he got us out of a hole 12 years ago for which he should be remembered, and kept us afloat. I dont think anyone can deny that he made very good manager appointments (on paper), and usually backed them with decent funds. With the exception of limiting Stuart Gray at a key stage, I dont think we can blame DC for our lack of success on the pitch.
For me, it now comes down to this sale. If it works out, then hes done the right thing and had the best interests of the club at heart, and helped us to move forward (saving us, persisting with and eventually pushing through the agreement for the redevelopment, and finding/selling to the right people who can take it to the next level). If its doesnt work out, then he's probably killed our club.
Could you explain what the council red tape was ?, he could have developed the ground at any point from day one including the hotel, he just wanted land that wasnt his to fund it
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Iest_ntfc
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Haven't we made profits under his tenure and we were repaying off the loan without any issues? Honestly some people on here talk s**t
a Wouldn't surprise me if he's used the loan money to repay the loan!!!
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I can't think of anything funny to write here
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guest47
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a
Wouldn't surprise me if he's used the loan money to repay the loan!!!
That how Wonga make their money. I wonder...
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GrangeParkCobbler
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a
Wouldn't surprise me if he's used the loan money to repay the loan!!!
erm.....I would have thought that to be correct Iest! You got the FOI details through....and £10.25m (the last known figure drawn down) at almost 3% interest over 5 years would put total loan repayments at around £150000-£200000 PER MONTH. In the absence of any additional revenue from the as yet unbuilt hotel, unbuilt conference centre, unbuilt stand, unbuilt executive boxes and unbuilt houses how the hell does anyone think we are paying that kind of money back?
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The Hotel End GTA Champion 2006/7, 2007/8, 2011/12, 2012/13 and 2018/19
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HertsCobbler
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erm.....I would have thought that to be correct Iest! You got the FOI details through....and £10.25m (the last known figure drawn down) at almost 3% interest over 5 years would put total loan repayments at around £150000-£200000 PER MONTH.
In the absence of any additional revenue from the as yet unbuilt hotel, unbuilt conference centre, unbuilt stand, unbuilt executive boxes and unbuilt houses how the hell does anyone think we are paying that kind of money back?
Given how much Liverpool are paying for players, I am sure they would give us £1m for our mate Kash.
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guest49
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erm.....I would have thought that to be correct Iest! You got the FOI details through....and £10.25m (the last known figure drawn down) at almost 3% interest over 5 years would put total loan repayments at around £150000-£200000 PER MONTH.
Were the terms of the payback in the FOI? Could it be that the payment term was phased and weighted towards the completion and housing development? It would really defeat the object of borrowing the money in the first place but would explain the takeover if there is no chance of finishing the job.
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GrangeParkCobbler
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Were the terms of the payback in the FOI? Could it be that the payment term was phased and weighted towards the completion and housing development? It would really defeat the object of borrowing the money in the first place but would explain the takeover if there is no chance of finishing the job.
I don't believe the terms were in the FOI, apart from the loans listed chunk by chunk, interst rates for each chunk, and repayment due dates....i'll send the list to you if you want! I used the monthly figure as an example, indeed they could be weighted, but by the clubs admission and the Councils admission the club are meeting the terms of their repayments, and as such any amount being paid back is coming from somewhere despite NONE of the enabling streams being in place yet!
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The Hotel End GTA Champion 2006/7, 2007/8, 2011/12, 2012/13 and 2018/19
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guest49
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Maybe it was on DFS terms.
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