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Full Version: Palace Secure 22.5 Million From AWB Early
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Sold Man Utds debt to a bank apparently.

https://www.google.com/amp/s/www.dailyma...-move.html

They must know the relegation-threatened club is in trouble.
(25-10-2019, 17:38 PM)elgin eagle Wrote: [ -> ]Sold Man Utds debt to a bank apparently.

https://www.google.com/amp/s/www.dailyma...-move.html

They must know the relegation-threatened club is in trouble.

I read this too and it makes absolutely no sense whatsoever. What does the bank gain from buying the debt? They are going to receive exactly what they gave us.
(25-10-2019, 18:42 PM)The Expat Eagle Wrote: [ -> ]I read this too and it makes absolutely no sense whatsoever. What does the bank gain from buying the debt? They are going to receive exactly what they gave us.
It does seem strange.  I can only think they can charge a fee for the service or something.  Maybe they can charge interest if Man Utd are late with their payments too?  Dunno really, but as you say they are a business.
(25-10-2019, 21:08 PM)elgin eagle Wrote: [ -> ]It does seem strange.  I can only think they can charge a fee for the service or something.  Maybe they can charge interest if Man Utd are late with their payments too?  Dunno really, but as you say they are a business.

I can't see anyone but us paying for this service because the contract we have is with Man U so if we sell the contract the terms can't be changed under contract law.

I doubt Man U will default on the payment... but the thing I read today is we have taken a £22.5m loan in reality.
(26-10-2019, 18:47 PM)The Expat Eagle Wrote: [ -> ]I can't see anyone but us paying for this service because the contract we have is with Man U so if we sell the contract the terms can't be changed under contract law.

I doubt Man U will default on the payment... but the thing I read today is we have taken a £22.5m loan in reality.
Yeah, that does sound more 'cash-strapped crystal palace' doesn't it.  Perhaps we plan to actually sign a goalscorer early in January and don't want to have to rely on any wilf sale to facilitate it.
(26-10-2019, 21:13 PM)elgin eagle Wrote: [ -> ]Yeah, that does sound more 'cash-strapped crystal palace' doesn't it.  Perhaps we plan to actually sign a goalscorer early in January and don't want to have to rely on any wilf sale to facilitate it.

In the football world it is all done with instalments and the owners have the money to make a short term loan for 6 months if needs be. None of it makes any sense just for the sake of 6 months especially as it was quoted as helping for work to start on the new stand.

Maybe the Americans want the money sooner before they bugger off?

So much of our club is murky these days.
(27-10-2019, 20:42 PM)The Expat Eagle Wrote: [ -> ]In the football world it is all done with instalments and the owners have the money to make a short term loan for 6 months if needs be. None of it makes any sense just for the sake of 6 months especially as it was quoted as helping for work to start on the new stand.

Maybe the Americans want the money sooner before they bugger off?

So much of our club is murky these days.
It really is.

Hadn't considered the yank angle.