TartanJon Posted November 12, 2014 Share Posted November 12, 2014 well if the debt has gone - £10m worth, then that will free up quite a lot of cash to spend on things other than interest. good news for you. Aye mate. Interesting times ahead with both Dons and Utd getting their act together on and off the field after years misery Quote Link to comment Share on other sites More sharing options...
dipped flake Posted November 12, 2014 Share Posted November 12, 2014 good to see the new firm on solid foundations now, could we actually see a realistic challenge in the next few years at the top of Scottish football? I doubt it but it would be great to see. Meanwhile rangers stumble along, trading while insolvent Quote Link to comment Share on other sites More sharing options...
wanderer Posted November 12, 2014 Share Posted November 12, 2014 well if the debt has gone - £10m worth, then that will free up quite a lot of cash to spend on things other than interest. good news for you. Stories a new purpose built training complex is all set to be announced. Quote Link to comment Share on other sites More sharing options...
ShedTA Posted November 12, 2014 Share Posted November 12, 2014 Aye mate. Interesting times ahead with both Dons and Utd getting their act together on and off the field after years misery agreed, commonsense finally returning to scottish football finances. great for both clubs, hopefully we can try and make a dent in the cups and league going forwards. Quote Link to comment Share on other sites More sharing options...
TartanJon Posted November 12, 2014 Share Posted November 12, 2014 agreed, commonsense finally returning to scottish football finances. great for both clubs, hopefully we can try and make a dent in the cups and league going forwards. TBH I hope you get pumped in the League Cup semi Quote Link to comment Share on other sites More sharing options...
neilser Posted November 12, 2014 Share Posted November 12, 2014 Debt free and wiithout a liquidator in sight. Sporting integrity prevails. Quote Link to comment Share on other sites More sharing options...
Cove_Sheep Posted November 12, 2014 Share Posted November 12, 2014 HBOS must have taken a bit of a hit I assume. Can't see the Community Trust having put anything in, they don't really have any funds. I would expect the shares they are getting to have been gifted to them. Quote Link to comment Share on other sites More sharing options...
Larky Masher Posted November 12, 2014 Share Posted November 12, 2014 Living on Milne's charity, good work. Quote Link to comment Share on other sites More sharing options...
min Posted November 12, 2014 Share Posted November 12, 2014 HBOS must have taken a bit of a hit I assume. Can't see the Community Trust having put anything in, they don't really have any funds. I would expect the shares they are getting to have been gifted to them. Given that Milne guaranteed the bank debt, there's no reason why HBOS would take a hit. Agree about the trust though. Quote Link to comment Share on other sites More sharing options...
Parklife Posted November 12, 2014 Share Posted November 12, 2014 Living on Milne's charity, good work. I sense the bitterness is strong in this one. Quote Link to comment Share on other sites More sharing options...
Larky Masher Posted November 12, 2014 Share Posted November 12, 2014 I sense the bitterness is strong in this one. I sense you have your head up your arse if you think this is any reflection of AFC's financial performance. Quote Link to comment Share on other sites More sharing options...
min Posted November 12, 2014 Share Posted November 12, 2014 Living on Milne's charity, good work. Milne is merely correcting his own wrongs and returning us to a financial position which is similar to when he became Chairman - that's integrity. Quote Link to comment Share on other sites More sharing options...
Larky Masher Posted November 12, 2014 Share Posted November 12, 2014 Milne is merely correcting his own wrongs and returning us to a financial position which is similar to when he became Chairman - that's integrity. And the decline will continue. Quote Link to comment Share on other sites More sharing options...
min Posted November 12, 2014 Share Posted November 12, 2014 And the decline will continue. If decline = no debt, no crippling interest repayments, turnover up, wage ratio down and a major trophy in the boardroom, then I'm all for it. Quote Link to comment Share on other sites More sharing options...
Maq Posted November 12, 2014 Share Posted November 12, 2014 I sense you have your head up your arse if you think this is any reflection of AFC's financial performance. Don't really care at the moment. No creditors left without payment No debt No debt interest repayments No spivs in the boardroom No fans getting fleeced over share issues Can't see how this could be anything but brilliant news for Aberdeen FC Scottish football will benefit.... Quote Link to comment Share on other sites More sharing options...
Parklife Posted November 12, 2014 Share Posted November 12, 2014 I sense you have your head up your arse if you think this is any reflection of AFC's financial performance. Aberdeen are debt free, our team is in hawk to Ashley and you're raging. It's a great day Quote Link to comment Share on other sites More sharing options...
ShedTA Posted November 12, 2014 Share Posted November 12, 2014 TBH I hope you get pumped in the League Cup semi Likewise, of course! Quote Link to comment Share on other sites More sharing options...
AberdeenAngus Posted November 12, 2014 Share Posted November 12, 2014 It is the bank who have taken the hit. They have accepted a one off payment for wiping out the debt. Killie and Utd agreed similar deals. Quote Link to comment Share on other sites More sharing options...
bruce778 Posted November 12, 2014 Share Posted November 12, 2014 http://www.afc.co.uk/news/5358.php#.VGMEsclECjY Is there a link to the actual Annual Report or is that it? Quote Link to comment Share on other sites More sharing options...
min Posted November 12, 2014 Share Posted November 12, 2014 Is there a link to the actual Annual Report or is that it? No link yet. Although, the debt agreements were reached after the accounting period. Quote Link to comment Share on other sites More sharing options...
Brooky Posted November 12, 2014 Share Posted November 12, 2014 Living on Milne's charity, good work. Oh come on! Nice try but you can't be serious. Even if it was his Charity or anyone else's the club is in a much better position than it was which is a cause for celebration for the club and it's fans. Our spending on wages, transfer fees etc is managed well compared to turn over and has been improving for a few years now - the club is being run properly, within it's means as are many Scottish clubs these days. It's the latest fashion in Scottish fitba and long may it continue! 'Armageddon' right enough, clubs lining up to agree a way to be debt free, living within their means, fans having an ever bigger say in how their clubs are run, young Scottish players coming through each clubs youth system and breaking into first teams.....this sensible, sustainble approach may just be catching on and provide the country with a league and national team it can be proud of..... if this is Armageddon then i'm all for it. Quote Link to comment Share on other sites More sharing options...
deecie Posted November 12, 2014 Share Posted November 12, 2014 TBH I hope you get pumped in the League Cup semi I'm still hoping for a Dundee win then. If you believe the internet, Willie & Elaine paid off £9million to the bank and were then gifted 20% of the club. Milne & AAM then wrote off their loans. Hopefully this £14million war chest will be large enough to sign a left back. I'm not hopeful though. Quote Link to comment Share on other sites More sharing options...
bruce778 Posted November 12, 2014 Share Posted November 12, 2014 No link yet. Although, the debt agreements were reached after the accounting period. Okay. Aberdeen obviously in an envious position (from a Rangers fan point of view), but all seems a bit murky, at this stage. Certainly seems unlikely that this has been achieved by trading, so a bit silly to say it's some kind of anti-Armageddon result. But congrats to Aberdeen - if it all comes off, it's where every Scottish football fan wants their club to be (financially). Quote Link to comment Share on other sites More sharing options...
thplinth Posted November 12, 2014 Share Posted November 12, 2014 As a neutral this looks like a very good deal. Fresh capital is being invested diversifying club ownership further one would think and the money is being used to clear the debt, not spunked on a title winning squad that is unsustainable or on a stadium no one wants in a place no one wants to go. Milne is capitalizing his debt to match the new capital coming in so probably he does not get too diluted. This puts AFC onto a rock solid financial footing and assuming they do not borrow again (for a new stadium) there is no reason why they should not stay debt free (give or take an operational overdraft on occasion). It is hard to imagine any serious financial threats to AFC now in the short & medium term. Quote Link to comment Share on other sites More sharing options...
bruce778 Posted November 12, 2014 Share Posted November 12, 2014 (edited) No link yet. Although, the debt agreements were reached after the accounting period. Double post. Edited November 12, 2014 by bruce778 Quote Link to comment Share on other sites More sharing options...
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