As we're unlikely to see terraces again at football, this is the virtual equivalent where you can chat to your hearts content about all football matters and, obviously, Arsenal in particular. This forum encourages all Gooners to visit and contribute so please keep it respectful, clean and topical.
mcdowell42 wrote:Closed the evening by stating he cannot predict the future of Arsenal. ‘Whatever happens, happens.’ Yet he closed by smirking and mentioning don’t be surprised by ‘a major event of change in the not too distant future.’
i don't believe it is BS, i heard it from two separate sources a few weeks back and neither involved the QIA.
once source said Dubai, the other insists still its Saudi.
either way, you can tell by the quotes from the "bid insider" that a fan on the ground is behind this.
my guess is, whoever drafts the letters from R&WH is behind this leak, which is a political move to see if there's room for a "white Knight" takeover - i.e. someone makes an offer for the whole company, but has already agreed with minority shareholders that they can keep their stake - you are obliged to offer for the whole company at the same price, but if the minority don't wish to sell, you are not under any obligation to force them. you can of course but you don't have to.
So we could be left with Dubai or whoever owning the 60% and Usmanov the 30% with a position on the board, and the AST and others holding the difference.
Good link by Mcd, would advise all fans to read it. Also, for those that think we are some cash rich club sitting on a 'warchest' this just confirms what I've been saying all along that the funds are not there and we rely on selling players to turn a profit every season.
Then why not spend the cash reserves of $190M reported in the semi-annual accounts a couple of weeks ago?
Jumping to the conclusion that Arsenal has $190M available to spend on new players is like looking at your bank balance after pay day and deciding that you can spend the lot.
What you have in the bank is only relevant once you have accounted for all the payments that have yet to clear and the liabilities you need to settle before pay day comes around again.
Of the $190M on Arsenal’s books, $35M has to be held in reserve under long-term debt covenants. There is another $210M worth of liabilities that must be settled in the next year. That means a negative position of $55M but that is offset by $105M in monies owed to Arsenal within the next year.
So a $190M cash reserve dwindles to a net reserve of $50M.
MM99 wrote:Good link by Mcd, would advise all fans to read it. Also, for those that think we are some cash rich club sitting on a 'warchest' this just confirms what I've been saying all along that the funds are not there and we rely on selling players to turn a profit every season.
Then why not spend the cash reserves of $190M reported in the semi-annual accounts a couple of weeks ago?
Jumping to the conclusion that Arsenal has $190M available to spend on new players is like looking at your bank balance after pay day and deciding that you can spend the lot.
What you have in the bank is only relevant once you have accounted for all the payments that have yet to clear and the liabilities you need to settle before pay day comes around again.
Of the $190M on Arsenal’s books, $35M has to be held in reserve under long-term debt covenants. There is another $210M worth of liabilities that must be settled in the next year. That means a negative position of $55M but that is offset by $105M in monies owed to Arsenal within the next year.
So a $190M cash reserve dwindles to a net reserve of $50M.
This is selective. To use their analogy
looking at your bank balance after pay day
to say
$210M worth of liabilities that must be settled in the next year
is like saying I have £6000 of mortgage payments and £1000 of utilities and £3000 of miscellaneous to pay in the next year. Most of that will be paid by ongoing revenue, TV, mugs like us. The cash flow is negative by just over £6 million. In other words we need about £6 million to pay for the credit card. We have a lot of spare cash around and could spend a lot more.
Especially if we for example, dump Bendtner for his stupidity.
'Btw if usmanov has decided to stick on 30% then he is no better than kroenke.......happy to sit on the gravy train doing fcuk all whilst the boat is sinking around them'
Augie, sorry mate absolute bollox.
at 30% he got to his mini target but a handful of shares here or there will make no difference now as if and when he was to buy Kroenke out then a purchase of all other shares becomes irrelevant.
Usmanov was at White Hart Lane and will be in Munich and still cares a lot more than many.
georgeknows89 wrote:'Btw if usmanov has decided to stick on 30% then he is no better than kroenke.......happy to sit on the gravy train doing fcuk all whilst the boat is sinking around them'
Augie, sorry mate absolute bollox.
at 30% he got to his mini target but a handful of shares here or there will make no difference now as if and when he was to buy Kroenke out then a purchase of all other shares becomes irrelevant.
Usmanov was at White Hart Lane and will be in Munich and still cares a lot more than many.
Was wondering if that forbes article would appear here. Certainly worth reading through and takes but 5 minutes, just that it's annoyingly cut into 4 pages and has pop ups in the way etc.
