SUFC INVESTMENT Update

[scargill 10]

how can he want his money back ? he has borrowed it from himself . The only way he could get his money back is to sell up but no1 in there right mind would buy us for the amount mccabe says he has put in so I'm afraid he is stuck with us which doesn't help the fans or mccabe

 

You dont quite get it, McCabe holdings (or whatever) have lent the money to SUFC PLC, he could demand the money back at any point through McCabe holdings, there by pushing SUFC into recievership, after any tax liabilities he would be the main recipient, and could get any assests left, i.e Bramall lane a major piece of real estate just out of Sheffield City Centre.

The way the economy in the world is going who knows the state of the business world and what is round the corner.

[TAT 10]

Will do LB, if you hear from him or his son, send my best. Football is one thing, illness is another.

 

I will delete my previous thread.

 

Nice one Speedy.

[s2 blade 10]

You dont quite get it, McCabe holdings (or whatever) have lent the money to SUFC PLC, he could demand the money back at any point through McCabe holdings, there by pushing SUFC into recievership, after any tax liabilities he would be the main recipient, and could get any assests left, i.e Bramall lane a major piece of real estate just out of Sheffield City Centre.

The way the economy in the world is going who knows the state of the business world and what is round the corner.

 

you don't quite get it ! if he demanded his 60 million back he would get nothing as we have nothing to give other than a ground he owns anyway there's no money no assets on the pitch nothing so I think you'll find demanding his money back would be a pointless exercise which is why he won't do it not because he can't but because there's no point . he is stuck with us and we are stuck with him !

[owl.66 210]

Will do LB, if you hear from him or his son, send my best. Football is one thing, illness is another.

 

I will delete my previous thread.

 

takes a man to admit & apologise when wrong

[Longy67 24]

Wednesday and United supporters arguing over debt issues is pointless.

As i said on a similar thread, WE as fans/supporters can do nothing about our respective clubs finances, so it's no good swinging punches at each other for something that's out of our control.

 

Billy, thank goodness, someone has come along and posted a sensible post...:thumbsup:

[Sufc2012 10]

It's rather strage to be honest but McCabe has a lot of money but doesn't want to spend anymore http://en.m.wikipedia.org/wiki/Kevin_McCabe_(businessman)#section_2

 

 

But got to give him credit for his choices in the last 6 years overall he has done very well

Edited June 30, 2012 by Sufc2012
Error

[F. Sidebottom 10]

Am not a board member or a United director, so i can not clarify your claims, United published their only bank debt was covered by the installments due from West Ham, those payments have now finished, so its fair to suggest that loan has been fully paid off and honoured as all buisness/bank agreements usually are.

 

My point exactly.

 

And one picked up and carried by a number of others.

 

On a thread about United's lack of investment, you dismiss the OP, and immediately go on the attack. You make ludicrous statements about how 'dishonourable' Wednesday are, and how 'honourable' united are.

 

You cannot qualify ANY of these statements.

 

You post no links.

 

You post no evidence.

 

Everything you post is simply ALL your imagination and ramblings.

 

As others have said, (almost) all football clubs struggle financially.

 

All football clubs play games with creditors.

 

None operate 100% honourably.

 

For anyone to suggest otherwise, including about our own clubs, is deluded.

 

The main beef anyone has on this thread is that for two, maybe three years, us Owls were roundly mocked, and quite rightly, for the shambles that was our clamour for investment. As this thread shows, United have suffered, and are suffering the same fate. It's our turn to mock, and mock we shall do. Man up and take it on the chin, like some of your better comrades appear to be able to do.

 

After all, it's 1st July tomorrow

Edited June 30, 2012 by F. Sidebottom

[CorkerSWFC 10]

Regarding the football side of things I would have to agree with this, at end of the day all we have heard is swings and roundabouts unfortunately for the Blades they are on the roundabout while we are higher up on the swing, don't get too much on your high horse mind as things can change in a shake of a hand for either club...

[F. Sidebottom 10]

Any chance of a 'F. Sidebottom vs Ladybirds' thread so they can both argue till the cows come home and leave the rest of us to it??? :hihi:

 

I am sorry this upsets you - please accept my sincere apologies.

 

LB did request a meeting to settle it.

 

But his suggested format would embarrass two middle aged men who should know better.

 

I always post with a smile on my face - hope you do to, shame some can't.

[scargill 10]

you don't quite get it ! if he demanded his 60 million back he would get nothing as we have nothing to give other than a ground he owns anyway there's no money no assets on the pitch nothing so I think you'll find demanding his money back would be a pointless exercise which is why he won't do it not because he can't but because there's no point . he is stuck with us and we are stuck with him !

 

Mr McCabe doesn't own the ground, he is the majority shareholder in SUFC, who own the ground, this in business terms is not the same as him owning the ground.

If push came to shove he could send you under, by demanding his loans repaid and declare you bankrupt, then write some of the debt of against tax as the way I understand it the loan is from another business, not his own personal fortune, as he has practically no chance of selling the club to get his money back.

The ground in the position its in is potentially a good assest and worth a few bob, and as you say the only asset there is to get anything back from.

Any way good luck next season, we need all (all but Leeds) the Yorkshire clubs doing well.

[GVOWL 10]

you don't quite get it ! if he demanded his 60 million back he would get nothing as we have nothing to give other than a ground he owns anyway there's no money no assets on the pitch nothing so I think you'll find demanding his money back would be a pointless exercise which is why he won't do it not because he can't but because there's no point . he is stuck with us and we are stuck with him !

 

WOW,is it 60 million you owe him?

[s2 blade 10]

WOW,is it 60 million you owe him?

 

that's the figure most commonly banded around yes !