Madbadteacher Posted November 12, 2014 Share Posted November 12, 2014 http://www.eveningexpress.co.uk/news/local/aberdeen-fc-secure-14-49m-deal-to-wipe-out-debts-1.678610?2 Please Quote Link to comment Share on other sites More sharing options...
Stewart Posted November 12, 2014 Share Posted November 12, 2014 It is. http://www.afc.co.uk/news/5358.php#.VGMEsclECjY Quote Link to comment Share on other sites More sharing options...
BigAl Posted November 12, 2014 Share Posted November 12, 2014 Oh ya beauty Fantastic news Well done to all involved Quote Link to comment Share on other sites More sharing options...
kevdon Posted November 12, 2014 Share Posted November 12, 2014 Fantastic Quote Link to comment Share on other sites More sharing options...
Tyrant Posted November 12, 2014 Share Posted November 12, 2014 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! Quote Link to comment Share on other sites More sharing options...
BigAl Posted November 12, 2014 Share Posted November 12, 2014 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 Quote Link to comment Share on other sites More sharing options...
manc_don Posted November 12, 2014 Share Posted November 12, 2014 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. Quote Link to comment Share on other sites More sharing options...
tlg1903 Posted November 12, 2014 Share Posted November 12, 2014 Not only investment but investment from a source that isn't looking to line their pockets. Fantastic news for the club Quote Link to comment Share on other sites More sharing options...
tlg1903 Posted November 12, 2014 Share Posted November 12, 2014 To give that more context http://m.bbc.co.uk/sport/football/30016946 Quote Link to comment Share on other sites More sharing options...
scotfree Posted November 12, 2014 Share Posted November 12, 2014 WTF THE FUCK! Quote Link to comment Share on other sites More sharing options...
BigAl Posted November 12, 2014 Share Posted November 12, 2014 Quote Link to comment Share on other sites More sharing options...
BigAl Posted November 12, 2014 Share Posted November 12, 2014 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 Quote Link to comment Share on other sites More sharing options...
manc_don Posted November 12, 2014 Share Posted November 12, 2014 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 Quote Link to comment Share on other sites More sharing options...
Jute Posted November 12, 2014 Share Posted November 12, 2014 Fantastic news. Hopefully the funds used for servicing the debt can now be given to the manager to strengthen the team in January. Quote Link to comment Share on other sites More sharing options...
Tyrant Posted November 12, 2014 Share Posted November 12, 2014 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. Quote Link to comment Share on other sites More sharing options...
Tyrant Posted November 12, 2014 Share Posted November 12, 2014 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. Quote Link to comment Share on other sites More sharing options...
Jute Posted November 12, 2014 Share Posted November 12, 2014 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? Quote Link to comment Share on other sites More sharing options...
Tyrant Posted November 12, 2014 Share Posted November 12, 2014 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. Quote Link to comment Share on other sites More sharing options...
Andrew Posted November 12, 2014 Share Posted November 12, 2014 Will this mean that Milne is no longer the majority share holder as he must have swapped equity for debt with the bank? Quote Link to comment Share on other sites More sharing options...
Kowalski Posted November 12, 2014 Share Posted November 12, 2014 Fantastic news and genuinely surprising. Well done the Donalds, I'm just glad it's not Ian! Quote Link to comment Share on other sites More sharing options...
mizer Posted November 12, 2014 Share Posted November 12, 2014 Amazing news Quote Link to comment Share on other sites More sharing options...
manc_don Posted November 12, 2014 Share Posted November 12, 2014 Amazing news Thats the most enthusiastic response yet Quote Link to comment Share on other sites More sharing options...
baggy89 Posted November 12, 2014 Share Posted November 12, 2014 This is mega!! Anyone know how much of the turnover went on servicing the debt? Quote Link to comment Share on other sites More sharing options...
Madbadteacher Posted November 12, 2014 Author Share Posted November 12, 2014 I would guess this will take us several steps closer to our fabled new stadium as well? Quote Link to comment Share on other sites More sharing options...
tom_widdows Posted November 12, 2014 Share Posted November 12, 2014 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? Quote Link to comment Share on other sites More sharing options...
️ Come on you Reds! ️
️ Come on you Reds! ️
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