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Author Topic: Tony’s Statement.  (Read 320882 times)

Online paul_e

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Re: Tony’s Statement.
« Reply #915 on: June 18, 2018, 10:37:56 AM »
I'm going the other way to be honest, In my opinion there have been 2 stories, 1 is the tax bill and the other is FFP.  The latter is something we knew was a problem (if we didn't go up) months ago so the only 'new' information in the last month was HMRC. Now that's clearly not a good situation to be in but it's been resolved and the underlying problem will be resolved if/when we fix the FFP issue. The way we have to do that is to sell some players and start using our youth team more effectively, something I thought we should've started doing 2 1/2 years ago when relegation was a certainty so i'm struggling to be all that upset by the prospect.

If things come out that add to the problems then obviously my position will change but I just can't get myself all that worked up about the whole thing right now. I guess that's why I don't really get what people want from a statement, what exactly can be said that will help anyone right now?

Offline mr underhill

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Re: Tony’s Statement.
« Reply #916 on: June 18, 2018, 11:57:01 AM »
hat we've been taken over by Sheikh Yer Booty?

Online pauliewalnuts

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Re: Tony’s Statement.
« Reply #917 on: June 18, 2018, 12:11:57 PM »
Don't know about anyone else but I get the sense it's going to get a lot worse before it gets better. Judging by the silence I'd guess people are trying to unpick and fathom out just how deep the shit is that we're in before they let on, I'd rather have all the bad news at once rather than be drip fed it.

Agree, sadly.

Offline oldhill_avfc

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Re: Tony’s Statement.
« Reply #918 on: June 18, 2018, 01:46:15 PM »
I'm going the other way to be honest, In my opinion there have been 2 stories, 1 is the tax bill and the other is FFP.  The latter is something we knew was a problem (if we didn't go up) months ago so the only 'new' information in the last month was HMRC. Now that's clearly not a good situation to be in but it's been resolved and the underlying problem will be resolved if/when we fix the FFP issue. The way we have to do that is to sell some players and start using our youth team more effectively, something I thought we should've started doing 2 1/2 years ago when relegation was a certainty so i'm struggling to be all that upset by the prospect.

If things come out that add to the problems then obviously my position will change but I just can't get myself all that worked up about the whole thing right now. I guess that's why I don't really get what people want from a statement, what exactly can be said that will help anyone right now?

The suspicion is that the cash flow issue is ongoing and the settlement with HMRC was s first installment only.
There is presumably a need for cash each month, so for it all to be sorted Xia must have found a way of borrowing against assets, finding extra investment or moving funds from China.   Are any of these likely?

Offline Ads

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Re: Tony’s Statement.
« Reply #919 on: June 18, 2018, 01:48:37 PM »
If he's loaned £50 million, then presumably he's given himself 12 months, if the level of equity needed last season was £4m a month.

Offline Villafirst

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Re: Tony’s Statement.
« Reply #920 on: June 18, 2018, 01:52:39 PM »
Would you lend him money with his track record?

Online paul_e

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Re: Tony’s Statement.
« Reply #921 on: June 18, 2018, 02:30:37 PM »
I'm going the other way to be honest, In my opinion there have been 2 stories, 1 is the tax bill and the other is FFP.  The latter is something we knew was a problem (if we didn't go up) months ago so the only 'new' information in the last month was HMRC. Now that's clearly not a good situation to be in but it's been resolved and the underlying problem will be resolved if/when we fix the FFP issue. The way we have to do that is to sell some players and start using our youth team more effectively, something I thought we should've started doing 2 1/2 years ago when relegation was a certainty so i'm struggling to be all that upset by the prospect.

If things come out that add to the problems then obviously my position will change but I just can't get myself all that worked up about the whole thing right now. I guess that's why I don't really get what people want from a statement, what exactly can be said that will help anyone right now?

The suspicion is that the cash flow issue is ongoing and the settlement with HMRC was s first installment only.
There is presumably a need for cash each month, so for it all to be sorted Xia must have found a way of borrowing against assets, finding extra investment or moving funds from China.   Are any of these likely?

Indeed, but it's only a suspicion and I doubt they'd have been meeting to discuss the budget and agreeing to resign Hutton if there was a realistic chance that we won't be able to pay players wages in the next fortnight.

As Ads said, the rumours were that he'd arranged £50m of credit, if that's the case then, as I said, it's a case of sorting out things we need to fix for FFP anyway and then reviewing things next summer. On evidence I see no reason to fear a winding-up order anytime soon and if that threat isn't there then we're really no worse off than many expected we'd be if we missed promotion.  I said a number of times that Bruce's approach was short term shit or bust and we're just seeing how true that was really.

Offline Des Little

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Re: Tony’s Statement.
« Reply #922 on: June 18, 2018, 02:37:51 PM »
Would you lend him money with his track record?

I wouldn't give him a quid to go to the shop.  I have lost all faith in the bloke.

Online kippaxvilla2

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Re: Tony’s Statement.
« Reply #923 on: June 18, 2018, 05:24:40 PM »
Meaning Evil.

Revealed: Tony Xia is running out of time to save Aston Villa

The AVFC owner is now desperately seeking outside investment as the bills continue to add up

12:35, 18 JUN 2018Updated15:09, 18 JUN 2018
Tony Xia is facing a race against time to source funds for cash-strapped Aston Villa.

The Chinese owner is currently exploring various investment proposals after accepting that a change at the top is needed.

Xia wants to stay on board as Villa chairman but is seeking outside investment of around £30million before the end of the month.

At worst he wants to remain a shareholder but is now seriously considering selling up as groups continue to show an interest in the club.


He will not sell Villa on the cheap, though.

Although he does admit that change is needed to get Villa going again after two seasons of disappointment in the Championship.

BirminghamLive understands that he also has some regret at not spending more time in England since taking over.

With CEO Keith Wyness now out the door and suing Villa for constructive dismissal, the club are short on key decision-makers.

It can be revealed that Xia sent a management troubleshooter over to Villa Park recently to help pick up the pieces.

Everything you need to know about Aston Villa target Samuel Yohou
His expert feedback - from years working in high-profile businesses outside of football - is now being considered.

But the most pressing concern is sorting out the on-going cash-flow issue.

Villa have another stack of bills due at the end of the month and Xia is close to exhausting his loan options.


He sourced £2million to cover last month's outstanding tax bill and it’s understood that money has even been borrowed against July’s parachute payment which weakens the owner’s hand in times ahead.

As reported last week, the second half of this month really is a crunch time for the club as Villa owe around £11million to other clubs for player transfers.

On top of that there will be another tax bill, the ongoing payroll commitments and other running costs that need addresing.

Huge investment in player wages and more than £70million in transfers in just two seasons left the club facing an HMRC winding-up order last month and similar issues could arise if the next payments are not made.

Player sales are inevitable with Jack Grealish and James Chester expected to fetch the highest fees.

But slashing the £45m wage bill is going to be difficult as there has been little interest in some of Villa's high-earning fringe players.

The next ten days are crucial.

Simon Jordan explains why it's not all doom and gloom at Aston Villa

Offline Toronto Villa

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Re: Tony’s Statement.
« Reply #924 on: June 18, 2018, 06:24:24 PM »
I see there was some open space that needed to be filled with a lot of "I heard..." type stuff.

Offline frank black

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Re: Tony’s Statement.
« Reply #925 on: June 18, 2018, 06:30:37 PM »
Silence from the owner says it all really. I am prepared for the worst and expect it.

Hopefully he sells up to someone with some acumen.

Online PaulWinch again

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Re: Tony’s Statement.
« Reply #926 on: June 18, 2018, 06:36:29 PM »
Oh good all sounds positive then...

Offline Ads

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Re: Tony’s Statement.
« Reply #927 on: June 18, 2018, 06:39:13 PM »
All sounds highly speculative. Why would you sack Wyness for reasons of seeking outside investment only to seem that a good idea a week later.

Online PaulWinch again

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Re: Tony’s Statement.
« Reply #928 on: June 18, 2018, 06:44:08 PM »
Muddled thinking, foolish pride?

Online ChicagoLion

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Re: Tony’s Statement.
« Reply #929 on: June 18, 2018, 10:31:13 PM »
Until Xia makes a statement that the future Financial position of the club is secure then these story’s will continue to circulate and with good reason.
If Xia could make that statement he would do so.
I do not see the outside investment story as either credible or likely considering the time line.

 


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