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Author Topic: NSWE Investment  (Read 168051 times)

Offline Risso

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Re: NSWE Investment
« Reply #1680 on: February 29, 2020, 12:11:40 PM »
Interesting that a lot of the commentary in the statement dwells on the default of Xia repaying the £30m promotion clause to Lerner.

Does that mean when our current owners bought (saved) the club, that the agreement upon Xia's purchase from Lerner in 2016 remained whereby Xia was still liable for the Lerner pay-off should we get promoted last season? That must have been factored into how much Xia was paid for the club (ie more) than if Edens/Sawiri had taken-on the promotion liability (maybe all parties thought we were unlikely to win promotion last year).

Makes you wince how poor an owner (as well as cash-poor poor) the "Doc" was. I wonder would other, less benevolent new owners have refused to pay Lerner, stating it wasn't their obligation...where the fcuk would that have left us?
In short, Nas and Wes, thank you. Randy and Tony, fuck off.

It was the club as a legal entity that owed the money, so if they hadn’t, it would have meant a legal case and administration.

Online dave.woodhall

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Re: NSWE Investment
« Reply #1681 on: February 29, 2020, 12:20:52 PM »
Interesting that a lot of the commentary in the statement dwells on the default of Xia repaying the £30m promotion clause to Lerner.

Does that mean when our current owners bought (saved) the club, that the agreement upon Xia's purchase from Lerner in 2016 remained whereby Xia was still liable for the Lerner pay-off should we get promoted last season? That must have been factored into how much Xia was paid for the club (ie more) than if Edens/Sawiri had taken-on the promotion liability (maybe all parties thought we were unlikely to win promotion last year).

Makes you wince how poor an owner (as well as cash-poor poor) the "Doc" was. I wonder would other, less benevolent new owners have refused to pay Lerner, stating it wasn't their obligation...where the fcuk would that have left us?
In short, Nas and Wes, thank you. Randy and Tony, fuck off.
  Surely the club is riddled with debt, to Nas and Wes. Selling the family silver (Villa Park) means it has more cash but less assets. Villa Park can now be turned into a retail park and there is nothing that anybody at the club could do about it. Maybe the Coventry City fans were right when they sang "We'll meet again" when we relegated them all those years ago.

Villa Park is an Asset of Community Value, which offers some worst-case scenario protection.

Offline ChicagoLion

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Re: NSWE Investment
« Reply #1682 on: February 29, 2020, 12:31:22 PM »
Interesting that a lot of the commentary in the statement dwells on the default of Xia repaying the £30m promotion clause to Lerner.

Does that mean when our current owners bought (saved) the club, that the agreement upon Xia's purchase from Lerner in 2016 remained whereby Xia was still liable for the Lerner pay-off should we get promoted last season? That must have been factored into how much Xia was paid for the club (ie more) than if Edens/Sawiri had taken-on the promotion liability (maybe all parties thought we were unlikely to win promotion last year).

Makes you wince how poor an owner (as well as cash-poor poor) the "Doc" was. I wonder would other, less benevolent new owners have refused to pay Lerner, stating it wasn't their obligation...where the fcuk would that have left us?
In short, Nas and Wes, thank you. Randy and Tony, fuck off.
  Surely the club is riddled with debt, to Nas and Wes. Selling the family silver (Villa Park) means it has more cash but less assets. Villa Park can now be turned into a retail park and there is nothing that anybody at the club could do about it. Maybe the Coventry City fans were right when they sang "We'll meet again" when we relegated them all those years ago.
If you want to see a club riddled with debt check out Manure.
I think you will find most clubs just like most corporations carry debt.
It looks like they had to sell  VP to avoid FFP.
In comparison to where we were under the Chinese Payless Shoes bloke, we are in a much better position and I would take these owners over the Glazers or Lerner for example.

Offline ClarrieBlue

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Re: NSWE Investment
« Reply #1683 on: March 03, 2020, 07:47:38 PM »
There was an article on the 28th Feb in the Daily Telegraph titled "Aston Villa owners' grand vision remains undimmed despite threat of relegation". Did anybody get the chance to read it, it's behind a paywall unfortunately. What was the gist of it. I suppose the clue is in the title lol.

Offline chrisw1

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Re: NSWE Investment
« Reply #1684 on: March 03, 2020, 08:12:06 PM »
Interesting that a lot of the commentary in the statement dwells on the default of Xia repaying the £30m promotion clause to Lerner.

Does that mean when our current owners bought (saved) the club, that the agreement upon Xia's purchase from Lerner in 2016 remained whereby Xia was still liable for the Lerner pay-off should we get promoted last season? That must have been factored into how much Xia was paid for the club (ie more) than if Edens/Sawiri had taken-on the promotion liability (maybe all parties thought we were unlikely to win promotion last year).

Makes you wince how poor an owner (as well as cash-poor poor) the "Doc" was. I wonder would other, less benevolent new owners have refused to pay Lerner, stating it wasn't their obligation...where the fcuk would that have left us?
In short, Nas and Wes, thank you. Randy and Tony, fuck off.
  Surely the club is riddled with debt, to Nas and Wes. Selling the family silver (Villa Park) means it has more cash but less assets. Villa Park can now be turned into a retail park and there is nothing that anybody at the club could do about it. Maybe the Coventry City fans were right when they sang "We'll meet again" when we relegated them all those years ago.
I'm not sure why people go on about it being a prime redevelopment site for retail etc.  It's really not.  There's already a retail park at the Fort and another one here just wouldn't work.  It's certainly not an office location.  I have big doubts that a hotel would bring in the funds some think.  You could put a few industrial sheds there I suppose, but the access roads aren't nearly good enough as they are and frankly industrial land values aren't the sort of figures that will have dodgey owners riding off into the sunset.  I'd imagine residential would be the most likley use, but again we're hardly talking Chelsea land values

Online algy

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Re: NSWE Investment
« Reply #1685 on: March 03, 2020, 08:39:46 PM »
There was an article on the 28th Feb in the Daily Telegraph titled "Aston Villa owners' grand vision remains undimmed despite threat of relegation". Did anybody get the chance to read it, it's behind a paywall unfortunately. What was the gist of it. I suppose the clue is in the title lol.

Quote
Aston Villa owners' grand vision remains undimmed despite threat of relegation

Less than two years after rescuing Aston Villa from the brink of financial oblivion, Nassef Sawiris and Wes Edens are making trips to Wembley an annual event.

It is still early into NSWE’s five-year plan, and relegation to the Championship this season remains a serious prospect, but this is a world away from the turmoil of May 2018 when one of English football’s founder members was on the verge of administration.

Sawiris and Edens will both be in attendance for Sunday’s Carabao Cup Final, along with Villa supporter the Duke of Cambridge, and the transformation under the billionaire businessmen so far has been remarkable.

Villa are now back competing in the Premier League, with a waiting list for season tickets of 7,000, and the financial picture is healthy with a clear strategy and ambition to keep the club moving forward.

Sawiris and Edens have, so far, made an encouraging start towards delivering on their promise to "bring sustainable success to the club, building on its rich history while respecting its loyal fan base and unique culture”.

Whatever happens against Carabao Cup holders Manchester City on Sunday - who have beaten Villa twice this season with an aggregate score of 9-1 - there is optimism over the future and a sense of stability off the field.

“The owners have invested a lot of their own money to set this club on a good footing so we can go and compete at the highest level in the Premier League,” said Dean Smith, Villa’s head coach.

“We need to go and retain our status as a Premier League club this season but we are also in a domestic cup final as well. As well as the players, a lot of credit goes to the owners with their investment and vision for the club.

“They are exceptional businessmen and the partnership works in a really good way.”

There was a grim reminder of the club’s troubled past on Friday, when Villa reported losses of just under £69 million in their financial accounts. Remarkably, that figure included a £30 million payment to former owner Randy Lerner, with the cheque written by NSWE as Dr Tony Xia, who passed the club on to the current owners, failed to pay up.

Indeed, it is easy to forget just how perilous the situation was after Villa’s defeat to Fulham in the 2018 Championship play-off final.

The day before that game, there was a warning from HMRC that the club would be wound up unless they paid a £4.2million tax bill.

Six weeks of financial crisis followed, with administration appearing inevitable, until NSWE chose their moment with Villa at the lowest ebb in its recent history.

Edens, in particular, had been desperate to acquire a club in the Premier League after falling in love with football at the 1994 World Cup, which was held in his native United States.

A co-owner of NBA team Milwaukee Bucks, Edens once held talks with David Beckham over potential investment into Inter Miami but his ambition was always to buy an English club with a proud history.

Sawiris, reportedly Egypt’s richest man with a fortune of $7.2 billion, had the same vision and their arrival was confirmed in July 2018.

Christian Purslow, who has vast previous experience with Liverpool and Chelsea, was appointed as chief executive a few weeks later to effectively run the club on a daily basis.

Since Xia’s three-year association with Villa was formally ended in August 2018, over £250 million in capital has been injected into the club by NSWE. 

Following promotion from the Championship, when the club had only 11 contracted players on the books, £127 million was spent in the summer to bring in new recruits.

Admittedly, not all of those signings have worked out, but this was a club starting from scratch and those accusations over “doing a Fulham” (also known as “promotion followed by a trolley-dash”) continue to frustrate Villa officials.

There is an eye on the future, too, with £20 million spent on improving the club’s academy, with the ultimate target of becoming the best in the Midlands.

NSWE could have invested more money but, like Everton, are ultimately prevented from doing so by the Premier League’s Financial Fair Play rules.

Relegation back to the Championship remains the elephant in the room, and this week many Villa fans have been debating whether they would favour silverware over survival.

They produced arguably their worst performance of the season at Southampton last weekend, and are only one place above the dreaded dotted line. More pain could be ahead.

The future of captain Jack Grealish is also uncertain, probably regardless of their Premier League fate. One thing is for sure, however: Villa’s owners do not need the money.

There is also a plan in the event of relegation and Villa continue to insist they will not be in danger of breaching financial rules.

But these are all potential issues for the summer and, for now, a second date at Wembley in under a year proves that Villa are back in the national conscience.

As Sawiris said after last season’s play-off victory, “the sky is the limit”.

Offline themossman

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Re: NSWE Investment
« Reply #1686 on: March 03, 2020, 09:17:57 PM »
God we were lucky.

Between the thumb screws applied by Lerner On his exit (or more likely the trustees pulling the strings) and that potless shitty shoed chancer Xia we were left right in it.

Offline Dante Lavelli

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Re: NSWE Investment
« Reply #1687 on: March 05, 2020, 08:46:28 PM »
The fact there are two of them may help.  It is not one individual restricted by their own finances, ability and appetite.  You’d hope with two big investors they is transparency about their plans and an identifiable route to get there.

Offline ChicagoLion

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Re: NSWE Investment
« Reply #1688 on: March 05, 2020, 09:04:44 PM »
I think Fulham might have done us a massive favour.

Imagine  Cheap Shoe and whoever was behind him having control of the Club in  the PL.


To end up where we are now with these owners is astonishing good fortune.

Offline pauliewalnuts

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Re: NSWE Investment
« Reply #1689 on: March 05, 2020, 09:21:20 PM »

To end up where we are now with these owners is astonishing good fortune.


Absolutely.

Offline Damo70

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Re: NSWE Investment
« Reply #1690 on: March 05, 2020, 11:47:56 PM »
A guy a few years older than me that I worked with in insurance thirty years ago stayed as a manager  of the branch along with the managing director whilst the other three branches went bust due to mismanagement by the owner of the company which left him with a ban of being a company directer for several years. The two of them then took over the only surviving branch with the guy I worked with being bankrolled by his father. The company is thriving with four employees and he pays himself a very healthy wage which can all be viewed easily on tinternet. However the property is rented and the only real value of the 'company' is the current assets which are negligible and the business/customers currently on the books. He seems to be doing well in this age of most business being done on tinternet but in reality he is only ever one bad year away from trouble.

Offline nigel

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Re: NSWE Investment
« Reply #1691 on: March 06, 2020, 10:07:04 AM »
I think Fulham might have done us a massive favour.

Imagine  Cheap Shoe and whoever was behind him having control of the Club in  the PL.


To end up where we are now with these owners is astonishing good fortune.

I said that immediately after we’d lost the play off final that it was a blessing in disguise.
Have to admit, I didn’t realise it was as bad as it was, though

Online LukeJames

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Re: NSWE Investment
« Reply #1692 on: March 06, 2020, 10:08:39 AM »

To end up where we are now with these owners is astonishing good fortune.


Absolutely.

Typical spawny Vile bastards.

Offline Drummond

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Re: NSWE Investment
« Reply #1693 on: March 14, 2020, 07:46:40 AM »
So, with this season almost certainly fucked, does that mean that FFP rules have to be completely reset or relaxed thus giving a reprieve to many clubs.....

Offline OzVilla

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Re: NSWE Investment
« Reply #1694 on: March 14, 2020, 08:25:50 AM »
That’s certainly one lever UEFA can pull and would make sense considering the obvious hit on revenues. From a purely footballing point of view the cards really are falling for us it would seem.

 


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