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Macclesfield wound-up

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KingstonMariner
September 16, 2020, 9:43pm
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Quoted from arryarryarry


Aren't our debts bigger than what Macclesfield owe?


So is the UK’s debt. The important thing is whether the debt can be serviced.


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arryarryarry
September 16, 2020, 10:18pm
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Quoted from Heisenberg


The way I see it is this; the club only owes money to one person.  That person owns the club, so we're debt free.  

That's also why we'll never have another leader, as nobody is willing to pay him all his investment back after nearly 2 decades of decline.


I thought it was a repayable loan and if so is a debt?
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Southwark Mariner
September 17, 2020, 12:37am
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I wonder how many managers were straight on the phone to the Macc players offering them a contract?

Im no expert. Were there any decent players who played for Macc?


I reckon actual value will be in the coaching staff
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mimma
September 17, 2020, 12:38am
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It's usually the taxman that files for bankruptcy. If you owe him money, he will come after you. After the collapse of ITV Digital, we couldn't pay our PAYE bill. We managed to secure a deal whereby we payed the bill over a number of years.Of course servicing this debt impacted on the playing budgit during this time, and we ended up in non-league.

You can have loans up to your eyeballs, no problem. But, if the creditors decide they want it all back, and you cannot pay it back, that is when you are in big trouble.
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aldi_01
September 17, 2020, 6:34am

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Simply because Macclesfield have done bust does not mean praise should be heaped on people like Fenty. They’re very different scenarios.

As with Bury, creditors, tax man among others wanted their money back. The owner at Macclesfield and Bury almost behaved like crooks. Both were ongoing, long term problems that were unlikely to have a positive outcome...which statistically is rare, normally in football someone does come in and make the purchase.

Equally, whilst nosy disagrees with the sums of cash and everyone recognises the disparity in wages and so forth, it isn’t for EFL clubs to look to the premier league every time, nor the fans to claim some moral high ground and demand that because Aguero earns 300k therefore they can afford to bail out clubs like Macclesfield. Long term that would likely see the definitive adoption of B teams and clubs, as well as young players being swallowed up and genuinely at the mercy of the top flight.

It’s a sad day, and whilst I would never wish it to happen to another club, I still wish Stevenage went down...


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rancido
September 17, 2020, 9:40am

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Quoted from aldi_01
Simply because Macclesfield have done bust does not mean praise should be heaped on people like Fenty. They’re very different scenarios.

As with Bury, creditors, tax man among others wanted their money back. The owner at Macclesfield and Bury almost behaved like crooks. Both were ongoing, long term problems that were unlikely to have a positive outcome...which statistically is rare, normally in football someone does come in and make the purchase.

Equally, whilst nosy disagrees with the sums of cash and everyone recognises the disparity in wages and so forth, it isn’t for EFL clubs to look to the premier league every time, nor the fans to claim some moral high ground and demand that because Aguero earns 300k therefore they can afford to bail out clubs like Macclesfield. Long term that would likely see the definitive adoption of B teams and clubs, as well as young players being swallowed up and genuinely at the mercy of the top flight.

It’s a sad day, and whilst I would never wish it to happen to another club, I still wish Stevenage went down...


I don't think it's a case of heaping praise on JF. It's more like it's a good job he hasn't behaved like some other owners/creditors who wanted their loans back to the detriment of the club. A previous grocery owning former chairman springs to mind!


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WOZOFGRIMSBY
September 17, 2020, 9:45am

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Quoted from rancido


I don't think it's a case of heaping praise on JF. It's more like it's a good job he hasn't behaved like some other owners/creditors who wanted their loans back to the detriment of the club. A previous grocery owning former chairman springs to mind!


Dave Safeway or Tommy Tates


He’s one of our loans
He’s one of our loans
Harvey Cartwright
He’s one of our loans
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ska face
September 17, 2020, 10:37am

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Quoted from mimma
It's usually the taxman that files for bankruptcy. If you owe him money, he will come after you. After the collapse of ITV Digital, we couldn't pay our PAYE bill. We managed to secure a deal whereby we payed the bill over a number of years.Of course servicing this debt impacted on the playing budgit during this time, and we ended up in non-league.



That’s not exactly true is it? The tax bill was covered by a £600k loan from Fenty’s Five Star Fish, which was transferred to him when he sold the company.

How that spiralled into a debt of £3.5m(?) is fairly well covered.
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arryarryarry
September 17, 2020, 11:23am
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Quoted from KingstonMariner


So is the UK’s debt. The important thing is whether the debt can be serviced.


The UK debt could be reduced by much lower spending and higher taxes.

Who will service the clubs debt if JF at some point demands his money back.
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Heisenberg
September 17, 2020, 12:22pm
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Quoted from arryarryarry


The UK debt could be reduced by much lower spending and higher taxes.

Who will service the clubs debt if JF at some point demands his money back.


Demands it from who?  Himself?

He's been getting his money back anyway, slowly but surely, although admittedly this season will see the opposite happen as there will be no excess left over.

Fenty has three options; demand his money back (effectively winding the club up and losing his investment), stay for the long haul and chip away at the money he sees as debt to him, or sell.

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