so are we still 12mill in hock to ior or did that never really exist

Issue a credit and its gone. It doesn't have to reappear on an offshore company's balance sheet.

An alternative is to use any annual profits to write it down. Hey presto, no corporation tax.

The debt is irrelevant or should be.

Most corporate deals are done on a "cash and debt free" basis - so you're just buying the underlying business and it's immediate working capital requirements.

For IOR the debt only ever had a value if it had a chance of being repaid or some one was going to pay for it. Why would anyone pay for it? The club isn't worth much, it doesn't make money, maybe the only value IOR could get out of the club was the future value of transfer deals done under their regime at most, but they certainly would get nowhere near the value of the debt.

so a company that didnt exist a week ago buy a suddenly debt free club no financial details forthcoming.said club doesnt make any money and has only one real asset,the ground?

Why do you seem to have an issue with that?

No financial details forthcoming? FFS give them a chance, they've only had the keys a few hours!!

Yes that's generally exactly what happens. TMH is obviously a "newco" set up 10 days ago to do the deal today and buy the club.

The £14m debt was never really a debt and I'd be surprised if it was recognised in the books of IOR as an asset as you would be hard pressed to convince someone it was ever going to be repaid, the club didn't make money so was never going to repay it.

A new owner buying the club has to put a value on it, and based on profits or assets that value is going to be low. IOR would never recoup the £14m.

default setting is no trust.would of thought an initial statement of a buyout would include some detail how much paid how much available for transfers.suspicious.yep

He said there'd be more detail in the programme. Details will come out I'm sure.

It only went through today, have some patience. Also I can't recall a team getting taken over and the new owners stating how much is available for transfer funds, would be foolish and naive if they did.

Dawlish. Check out ORDICIUM (UK) LIMITED. Thats where the moneys coming from.

I'm pretty sure they won't want to give out details of how much they have paid for the club. Most things in football are undisclosed these days and I would imagine this will be.

As for how much is available to spend. Let's just let the footballing world know how much money we have to spend so they can take our eyes out when we start buying players

we are not the 1st footie club with debts who have NEW owners, chill ya DRAMA QUEEN !

surely you come in bertie big bollocks in terms of reputation? tell you what though repooliedan92 you know best lets keep the ior thing ongoing and keep it all undisclosed

so you trust the new owners with absolutely no idea of who they are how much money they have etc

Why would you want other teams to know how much money we have for transfers though, yes we would love to know but unfortunately if teams here that we have for example half a million to spend in January they are certainly going to hold out for a better price. Something that we do not need. Money for buying players should be kept inside the boardroom. The less people that know how much we potentially have to buy players the better.

really.you think theres a secret squirrel fund to sign decent players

what does that mean? do you think we suddenly have a pot of money to sign new players

We may do, who knows, you said yourself they've not stated what we have for transfers. They have said that they will back the manager in any way they can which gives me some hope that they're going to spend in January.

You have yourself stated you would have thought there would have been a statement saying how much would be available for transfers. I am saying if there is a big pot of money. Why would they want to announce it.

Let's hope there is a big pot of money and Ronnie is allowed to go nuts with it January. Only time will tell. But it would be silly to start shouting about how much money we actually have, whether it be something or nothing.

You beat me too it Soma! Well said

All this talk about various parties getting hold of the ground! I work in the construction industry with developers (which doesn't mean I know everything but I have an insight), and honestly there are far easier ways to get hold of land. Why would IOR or anyone else want to spend millions and dedicate years of their life to acquiring a bit of land which isn't exactly prime real estate. Believe me land isn't that hard to acquire in hartlepool at the moment.
I do worry about the motives of new buyers but give them a go. If we're going to get out of this relegation mess it needs club, manager, players and us the fans sticking together.