Jump to content

Saturday 20th April 2024:  kick-off 12.30pm

Scottish Cup Semi-Final - Aberdeen v Celtic

🔴⚪️ Stand Free! ⚪🔴

Milne Loses £310 million


Recommended Posts

This was in four four two's football rich list a while ago. It said then that he had lost 310 million british pounds taking him down to 90 million british pounds. I would tend to trust 442 and the bbc more than I would the NOTW with its joke standard of journalism.

Due to his wealth being tied up in the Stewart Milne Group it is not hard to believe that he will be severley hit by the credit crunch. No one is buying property therefore the value of the stock he owns in said group will plummet. Add to this fact that he will have houses built that he cannot sell making his profit margins slimmer which will also affect the stocks in his group. Of course I'm sure he'll struggle by and come out the other end.

Link to comment
Share on other sites

Ouch, that is fucking insane, could this mean that he will be looking to sell off some of his "assets"?

 

If anything he should do the opposite, keep hold of all his assets until they go back up in price, sell them then.

 

Does seem odd though, most of his property is in NE Scotland, and house prices are still going up here.

Link to comment
Share on other sites

I'd presume it's his shares in Stewart Milne Group that have plummeted in value... hence how he was "worth" £400 million but it wasn't real money. He'll want to hold onto his shares until the market recovers and then he'll be back up to his old wealth levels. If he actually sells his shares, then he'll lose wealth. He may even have an overdraft with the bank just now to maintain cashflow, while he waits for his stocks to recover. I also don't think he will have to change his spending habits and will not be that worried... yet.

 

Maybe now this will bring an end to the ignorant rants that "Milne has hunners of millions but puts fuck all into the club, the tight...", but probably not.

Boo you've just copied what I said about five posts up. Copycat.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...