http://www.eveningexpress.co.uk/news/local/aberdeen-fc-secure-14-49m-deal-to-wipe-out-debts-1.678610?2

 

Please

It is. 

 

http://www.afc.co.uk/news/5358.php#.VGMEsclECjY

Oh ya beauty

 

Fantastic news

 

Well done to all involved 

Fantastic

So who's taken on our debt?  Or has this Willie Donald guy paid it off all in exchange for part ownership of the club?

 

Forgive me for being skeptical but when something seems too good to be true it usually is!

Tyrant

 

The Donald's have put up the "bulk" of the money and become major shareholders in return.

AFC debt free and the inherent servicing costs GONE 

Happy fucking days. I was worried April had come too soon, but seeing it on the official website , wow.

 

Usually I'd share the same cynacism as you tyrant, but this sounds genuine. We've wanted investment in the club for yonks, its now arrived.

Not only investment but investment from a source that isn't looking to line their pockets.  Fantastic news for the club

To give that more context

 

http://m.bbc.co.uk/sport/football/30016946

WTF THE FUCK! 

Looks like there might be a bit more to this than first meets the eye.

Donald's invest hard cash which goes straight to the bank. Bank takes said cash and in return write off agreed level of funding greater than value of cash given to them. This is the same principle as both Arabs & Killie used.

AAM & Stewart Milne convert debt to share holding and hey ho the club are debt free and no longer have the burden of seven figure debt servicing hanging round their neck

 

Armagedon eh ?

Fucking loving it

Looks like there might be a bit more to this than first meets the eye.

Donald's invest hard cash which goes straight to the bank. Bank takes said cash and in return write off agreed level of funding greater than value of cash given to them. This is the same principle as both Arabs & Killie used.

AAM & Stewart Milne convert debt to share holding and hey ho the club are debt free and no longer have the burden of seven figure debt servicing hanging round their neck

 

Armagedon eh ?

Fucking loving it

 

I know!

 

Well done to all involved at the club

 

Fantastic news. Hopefully the funds used for servicing the debt can now be given to the manager to strengthen the team in January.

Fantastic news. Hopefully the funds used for servicing the debt can now be given to the manager to strengthen the team in January.

 

 

Can't see it. They specifically state that the intention is to continue to live within our means and although we'll have greater means to live within we also have other things that require funding such as training facilities (I hope). It's great that in theory we'll be able put money towards training facilities instead of servicing debts but I don't think the playing budget will increase. Even just a little to allow for a left back and a proper goalkeeper.

Not only investment but investment from a source that isn't looking to line their pockets.  Fantastic news for the club

 

 

Whilst, obviously, I hope to fuck that this is the case I'm skeptical about it too. Rich people aren't rich because they like handing money here, there and everywhere.

 

Can't see it. They specifically state that the intention is to continue to live within our means and although we'll have greater means to live within we also have other things that require funding such as training facilities (I hope). It's great that in theory we'll be able put money towards training facilities instead of servicing debts but I don't think the playing budget will increase. Even just a little to allow for a left back and a proper goalkeeper.

 

Whats that outlandish notion?

This doesn't surprise me actually. The debt getting cleared has looked increasingly more likely than getting in a semi competent left-back for ages now.

Will this mean that Milne is no longer the majority share holder as he must have swapped equity for debt with the bank?

Fantastic news and genuinely surprising.

 

Well done the Donalds, I'm just glad it's not Ian!

Amazing news

Amazing news

 

Thats the most enthusiastic response yet

This is mega!!

 

Anyone know how much of the turnover went on servicing the debt?

I would guess this will take us several steps closer to our fabled new stadium as well?

Wonder if this give more weight to the legal battle with those pricks in the city council who 'revoked' the granted planning permission for the sports village at Cove which was to include both the new training facilities and Cove Rangers new stadium?

 

Unless of course that decision has since been overturned?

Great news.

 

But what are the facts here and where does that leave us?

 

The debt is gone which I presume means we're not paying installments on that plus interest.  I seem to remember a figure of £1/2m per year being banded about that went towards servicing the debt.  Where does that 'extra' money go now?  Stadium?  Training facilities?  Players budget?

 

I can't say I've heard of WM Donald before, any of you guys have any dealings with them?  Do they automatically get the contract for the stadium and training facilities?

 

Do any of you know Willie and Elaine Donald personally?  Are they regulars at games?  Surely it can only be a good thing that they're locals rather than some two-bit, faceless consortium from out of town?

 

It all sounds peachy but my only concern is that we're now debt free and we charge into building a new football facility (which the fans have never really bought into) and we're £20m+ in the hole and back to servicing the debt each year.