Pilchards Posted 5 January, 2013 Share Posted 5 January, 2013 That Marcus left Saints a fund in an account just before he passed away (bless the great man) I heard from an ex employer that it was for when we reach the Premiership as it will go towards funding the new stadium etc. The figure mentioned was 300m. Does anyone believe it could be true as Cortese often talks about champions league? Btw I'm taking the rumour as a piece of salt!! Link to comment Share on other sites More sharing options...
farawaysaint Posted 5 January, 2013 Share Posted 5 January, 2013 That Marcus left Saints a fund in an account just before he passed away (bless the great man) I heard from an ex employer that it was for when we reach the Premiership as it will go towards funding the new stadium etc. The figure mentioned was 300m. Does anyone believe it could be true as Cortese often talks about champions league? Btw I'm taking the rumour as a piece of salt!! The trust fund is real and was alluded to several times after Markus' death. The amount however is wholely uncertain and I wouldn't trust anyone who claims to know exactly how much dosh we have. I choose to believe we're comfortably well off however. Link to comment Share on other sites More sharing options...
PhilippineSaint Posted 5 January, 2013 Share Posted 5 January, 2013 How do I go about proving I was Makus's love child and deserve a piece of his lovely pie ? Link to comment Share on other sites More sharing options...
david in sweden Posted 5 January, 2013 Share Posted 5 January, 2013 (edited) That Marcus left Saints a fund in an account just before he passed away (bless the great man) I heard from an ex employer that it was for when we reach the Premiership as it will go towards funding the new stadium etc. The figure mentioned was 300m. Does anyone believe it could be true as Cortese often talks about champions league? Btw I'm taking the rumour as a piece of salt!! I 'm not quite so doubtful as you appear to be Pilchards. Cortese is often painted as the bad guy in deals and decisions at SFC, but people forget that his banking background puts him in a unique position as club Chairman. YES.... there is a lot of difference in the mindset between those " big club " worldly oil moguls who are quick to " splash the cash " at the managers request, but Cortese's " softly, softly " approach shows a bit more thought and consideration before decision-making. The protracted negotiations over Ramirez in the summer shows some caution when it comes to dealing with money..whereas another club owner might just say ...." .Oh s*d it ...give then the extra £3 million and sign the guy "....not Cortese, who patiently held his position before signing on the dotted line. As we saw in the Alex O-C deal, he goes into a negotiation from strength, and would sooner leave it on the table than pay more than he thinks. He seems to be careful with the club's money...in many small ways. Minor changes in administration have raised a few eyebrows at SMS but, for example, his reluctance to let Ryan Dickson (a player who clearly has little future with the club).. leave without getting a proper return shows that he counts the pennies as well as the millions, and everyone has a valuation. Although we spent " relatively small sums " on the way up to the Prem... (some people said that £1 million was too much to pay for a 27 y.o. striker in L1)....but Rickie Lambert clearly has been the most influential buy the club has made in a decade. Team-building takes time.......and not everyone makes the grade, but in building a young side (av.age 23) there is a long-term vision that few can see. The fact that we have built a great Academy and produced the likes of Walcott, Bale and AOC ....and now JWP and Luke Shaw ...shows that part of the future planning, and when putting a £12 million player on the same pitch as Academy product Shaw... they seem to gell OK and neither seems to be out of place, regardless of the original investment. I'm sure future dealings will show the same trend. As for the future...? ..the patient Cortese will want survival this season, and a decided improvement next, and perhaps (if /when) we get closer to Euro football, then we may see some of that " Liebherr inheritance " see the light of day...in different ways. Edited 5 January, 2013 by david in sweden Link to comment Share on other sites More sharing options...
John B Posted 5 January, 2013 Share Posted 5 January, 2013 The trust fund is real and was alluded to several times after Markus' death. The amount however is wholely uncertain and I wouldn't trust anyone who claims to know exactly how much dosh we have. I choose to believe we're comfortably well off however. So why did we get this loan based on next years Sky mpney if we were minted Link to comment Share on other sites More sharing options...
PhilippineSaint Posted 5 January, 2013 Share Posted 5 January, 2013 So why did we get this loan based on next years Sky mpney if we were minted Because you can defer the interest on the loan against tax so makes it beneficial to actually be in some debt. Link to comment Share on other sites More sharing options...
david in sweden Posted 5 January, 2013 Share Posted 5 January, 2013 So why did we get this loan based on next years Sky mpney if we were minted I'm sure we don't keep that kind of dosh in a safe at SMS, and any really large sums would have been invested longer term at a good interest rate, I'm sure. Whatever happens this seasson, we will get our share of the Sky money, so we've just borrowed against the eventual pay-out. Taking loans is common practice in many businesses, unlike "ordinary people " they don't have to dip into their reserves every time they want to make larger investments. The security is there as collateral. Link to comment Share on other sites More sharing options...
John B Posted 5 January, 2013 Share Posted 5 January, 2013 I'm sure we don't keep that kind of dosh in a safe at SMS, and any really large sums would have been invested longer term at a good interest rate, I'm sure. Whatever happens this seasson, we will get our share of the Sky money, so we've just borrowed against the eventual pay-out. Taking loans is common practice in many businesses, unlike "ordinary people " they don't have to dip into their reserves every time they want to make larger investments. The security is there as collateral. You must be joking Not a very clever way to run a company reducing the capital by paying interest instead of reducing by investment Link to comment Share on other sites More sharing options...
Thedelldays Posted 5 January, 2013 Share Posted 5 January, 2013 Only at saints can you get a multi million pound loan for "tax reasons" Everywhere else would be classed as debt/borrowing because you don't have any Link to comment Share on other sites More sharing options...
PhilippineSaint Posted 5 January, 2013 Share Posted 5 January, 2013 Was it not from an offshore tax haven account? they don't care what the loan is for as long as it is repaid. and you have the collateral to cover the loan if you default. Link to comment Share on other sites More sharing options...
david in sweden Posted 5 January, 2013 Share Posted 5 January, 2013 You must be joking Not a very clever way to run a company reducing the capital by paying interest instead of reducing by investment NO......Phillipine Saint has given a simple explanation on posts 6 and 10 of this thread........read ! Link to comment Share on other sites More sharing options...
Thedelldays Posted 5 January, 2013 Share Posted 5 January, 2013 Maybe that is where west hams £100m is.... For tax reasons Link to comment Share on other sites More sharing options...
david in sweden Posted 5 January, 2013 Share Posted 5 January, 2013 Maybe that is where west hams £100m is.... For tax reasons with their ownership ......nothing would surprise. Link to comment Share on other sites More sharing options...
Greenridge Posted 5 January, 2013 Share Posted 5 January, 2013 So why did we get this loan based on next years Sky mpney if we were minted Do we know that is fact or is it supposition? Link to comment Share on other sites More sharing options...
ottery st mary Posted 5 January, 2013 Share Posted 5 January, 2013 Do we know that is fact or is it supposition? Is there any evidence in the public domain.... of this alleged loan? Link to comment Share on other sites More sharing options...
trousers Posted 5 January, 2013 Share Posted 5 January, 2013 (edited) That Marcus left Saints a fund in an account just before he passed away (bless the great man) I heard from an ex employer that it was for when we reach the Premiership as it will go towards funding the new stadium etc. The figure mentioned was 300m. Does anyone believe it could be true as Cortese often talks about champions league? Btw I'm taking the rumour as a piece of salt!! Yep, the £300m figure first came to light on here a couple of years ago. From a reputable source IIRC. Edited 5 January, 2013 by trousers Link to comment Share on other sites More sharing options...
trousers Posted 5 January, 2013 Share Posted 5 January, 2013 (edited) Only at saints can you get a multi million pound loan for "tax reasons" Everywhere else would be classed as debt/borrowing because you don't have any If this £300m fund exists, we don't know what conditions or restrictions Markus placed on its utilisation. Edited 5 January, 2013 by trousers Link to comment Share on other sites More sharing options...
trousers Posted 5 January, 2013 Share Posted 5 January, 2013 So why did we get this loan based on next years Sky mpney if we were minted We won't know the answer to that question until the accounts are released in 18 months Link to comment Share on other sites More sharing options...
stu0x Posted 5 January, 2013 Share Posted 5 January, 2013 Not a very clever way to run a company reducing the capital by paying interest instead of reducing by investment I take it you're not an accountant then... Link to comment Share on other sites More sharing options...
aintforever Posted 5 January, 2013 Share Posted 5 January, 2013 I take it you're not an accountant then... Surely what he is saying makes sense though. Why pay interest to another company when a loan from the Leibherrs would have the same tax benefits? Link to comment Share on other sites More sharing options...
Gemmel Posted 5 January, 2013 Share Posted 5 January, 2013 Not a chance. I am convinced, that the coverting of the 33 million pounds into equity, was final gesture from the family. I believe we will now need to be self sufficient and the loan that we have taken out, will (I hope) be based on the Premier money we get in June. I think people are kidding themselves if they think there is a 300 million war chest, that was left alone in favour of a high intrest loan secured against ALL assets, because of some tax benefit. Link to comment Share on other sites More sharing options...
Saint 76er Posted 5 January, 2013 Share Posted 5 January, 2013 Not a chance. I am convinced, that the coverting of the 33 million pounds into equity, was final gesture from the family. I believe we will now need to be self sufficient and the loan that we have taken out, will (I hope) be based on the Premier money we get in June. I think people are kidding themselves if they think there is a 300 million war chest, that was left alone in favour of a high intrest loan secured against ALL assets, because of some tax benefit. Whilst this post is based on sound enough logic, you do sometimes have to read between the lines. It occurs to me that from day one Cortese has spoken of redeveloping SMS or even building a new stadium. He even has drawings to prove it now. Accessing commercial loan facilities for such a project would be almost not viable for a club like us, just ask Rupert Lowe. However, NC does not bat an eyelid and in his quotes basically says this WILL happen when he deems the time is right and with indications of sooner rather than later. This indicates he is confident that a source of funds is available to allow this expensive project to happen. Like all of you I can only guess at this, but with long standing rumours of a legacy set aside by Markus (although 300m does seem a lot) it may be that the great man did leave funds exclusively for stadium redevelopment but not perhaps for running expenses, hence the supposed bridging loan. Link to comment Share on other sites More sharing options...
Wade Garrett Posted 5 January, 2013 Share Posted 5 January, 2013 Why do we need a new stadium? Link to comment Share on other sites More sharing options...
Doctoroncall Posted 5 January, 2013 Share Posted 5 January, 2013 Surely what he is saying makes sense though. Why pay interest to another company when a loan from the Leibherrs would have the same tax benefits? IF there is this investment, it maybe tied up for a period of time so unable to get to it without penalty (especially as we achieved PL status ahead of the five year plan). All ifs, buts and maybes. Personally I don't think there is this pot of money, happy to be wrong though! Link to comment Share on other sites More sharing options...
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