El Paso wrote:The club is paying for it. We can never forget that the way this works is that the money being spent is being loaned to the club. When the club was bought the money used to buy it will have been loaded back onto the club as a debt. They’re not sugar daddies risking their own cash.
The money the club earns pays interest on these loans (but rarely reduces the principle) and any profit made is used to pay dividends. It’s the Glazer model. Technically the club is probably already well in debt. If anyone wants to buy the club in the future they’ll be buying the debt as well as paying the book value plus whatever.
It kind of doesn’t matter as long as the debts are being serviced. But even one season out of the top 4? I wouldn’t like to see that. But be wary of wanting Peak6 to ‘invest’ too much because it’s money the club is borrowing.
As far as I'm aware not once since the Peak6 backed consortium took over has any word of anything like a leveraged buy out, as happened to Utd with the Glazers, been mentioned as occurring? Not every non tycoon takeover of a football club is a leveraged buy out Glazer style, thank Christ.
What information is out there is that Paul and Andy got a fair price for the club, the club is being prudent and not spending beyond it's means and it was confirmed several times there's still a fair chunk of wedge in the bank post takeover from the euro run.
Andy and Paul got paid whatever was agreed/ the going rate and the cash in the clubs bank account was left as is from the euro run was the general gist of things, despite the lads being well entitled to take a dividend before they sold up, though the cash in bank was a massive asset on the books for Peak6's interest in buying the club, as far as I was aware and from what I was told?
If a leveraged buy out did occur you can be damn sure Gavin, James, Dan McDonnell and the media would have gone to town on it and Gerry sure as hell wouldn't keep it quiet!
As per the CRO Dundalk Town LTD last filed accounts on 31/08/2018 and they would have been the books for 2017 so it'll be 31/08/2019 for 2018 if anyone would like to spend €3.50 to find out exactly what the books for last year look like and how the takeover affected them.
Ian Foster: (On the expectations level at Dundalk): "That's why you want to be involved in management. If I don't do well I'll do my shopping in Newry!"
Ian Foster: Last seen heading for Newry.