TrentVilla Posted July 30, 2016 Moderator Share Posted July 30, 2016 10 hours ago, JAMAICAN-VILLAN said: Hmmm, well this hasn't stopped him making billions to become the "billionaire" business man has it? We don't actually know he is a billionaire, his wealth is somewhat of an unknown still. 1 Link to comment Share on other sites More sharing options...
useless Posted July 30, 2016 Share Posted July 30, 2016 There was a recent article on Recon website saying LHG is worth just under a billion in pounds, he apparently sold Teamax for around £400m, although the company that supposedly bought them (Softto) I'd read previously were also owned by Xia, so not sure how that works. He said himself that he's worth rather more than a dollar billionaire, he also apparently said that within a few months his business should become more clear after a series of mergers and acquisitions (no direct quotes, but it was part of the Nick Harris article, after he spent time at Xia's home) I guess it depends on whether one believes him or not. I myself think that there's more to this takeover than meets the eye, but the full extent of it might not become apparent until we're back in the Premier. Link to comment Share on other sites More sharing options...
TrentVilla Posted July 30, 2016 Moderator Share Posted July 30, 2016 All that just confirms what I said, we don't actually know his wealth. 1 Link to comment Share on other sites More sharing options...
maqroll Posted July 30, 2016 Share Posted July 30, 2016 (edited) He's a 38 year old nerd who likes football and has a lot of money. I think his heart is in the right place, but I fear that he's a bit naive, just in terms of his social media presence. I think eventually some one will tell him to reel it in...which is kind of sad, because this kind of direct (online) access is unusual. Edited July 30, 2016 by maqroll Link to comment Share on other sites More sharing options...
DamsonwoodVillan Posted July 30, 2016 Share Posted July 30, 2016 In their features with him in Beijing back in the Spring, the reporter from the Daily Mail (or Guardian, can't remember which) claimed to have seen a balance statement produced by Xia which translated to about $4.1 billion U.S. Not sure what that is in sterling or indeed how accurate it is. We only have his word for it. If true then I'm assuming it's the funds in just one business account. Link to comment Share on other sites More sharing options...
useless Posted July 30, 2016 Share Posted July 30, 2016 Someone posted this link on twitter, I've no idea if correct but apparently it shows that Xia capitalized the club at £400m minus what he paid for it. ' Statement of capital following an allotment of shares '. Link to comment Share on other sites More sharing options...
meme Posted July 30, 2016 Share Posted July 30, 2016 1 minute ago, useless said: Someone posted this link on twitter, I've no idea if correct but apparently it shows that Xia capitalized the club at £400m minus what he paid for it. ' Statement of capital following an allotment of shares '. Yeah, I saw that earlier. It really has no meaning other than showing the value of the assets at the club. 1 Link to comment Share on other sites More sharing options...
useless Posted July 30, 2016 Share Posted July 30, 2016 (edited) That balance statement was circa 400 billion yuan, in pounds it's about 400 million, which is the amount he's reportedly put into an English account to prove to the Football league that he has the funds to support us for the next two years. The money seemingly, came from him selling Teamax to Softto, in what was a 'reverse takeover' (not sure what that means). Only thing is Xia apparently owns Soffto as well. Edited July 30, 2016 by useless Link to comment Share on other sites More sharing options...
Jareth Posted July 30, 2016 Share Posted July 30, 2016 25 minutes ago, maqroll said: He's a 38 year old nerd who likes football and has a lot of money. I think his heart is in the right place, but I fear that he's a bit naive, just in terms of his social media presence. I think eventually some one will tell him to reel it in...which is kind of sad, because this kind of direct (online) access is unusual. People have been telling him to reel it in daily on here. Tony tweets when he wants. Link to comment Share on other sites More sharing options...
Popular Post sharkyvilla Posted July 30, 2016 Popular Post Share Posted July 30, 2016 For all his tweets, he managed to keep the deal in India pretty quiet and was a pleasant surprise. It seems he is capable of doing business on the quiet whilst filling us in on other areas. I suspect when it comes down to business he and his people take it very seriously. 6 Link to comment Share on other sites More sharing options...
maqroll Posted July 30, 2016 Share Posted July 30, 2016 21 minutes ago, Jareth said: People have been telling him to reel it in daily on here. Tony tweets when he wants. And I like that, but the internet being what it is, it's hard to imagine a positive outcome from it all. As soon as we falter, and we will at some pint, things will get ugly. It's probably better if he just issued the occasional press brief and left the Tweeting alone. 1 Link to comment Share on other sites More sharing options...
AntrimBlack Posted July 30, 2016 Share Posted July 30, 2016 56 minutes ago, useless said: That balance statement was circa 400 billion yuan, in pounds it's about 400 million, which is the amount he's reportedly put into an English account to prove to the Football league that he has the funds to support us for the next two years. The money seemingly, came from him selling Teamax to Softto, in what was a 'reverse takeover' (not sure what that means). Only thing is Xia apparently owns Soffto as well. That is your reverse takeover. He certainly seems to own plenty of companies. Very useful tool to have at your disposal. 2 Link to comment Share on other sites More sharing options...
Popular Post Davkaus Posted July 30, 2016 Popular Post Share Posted July 30, 2016 1 hour ago, maqroll said: And I like that, but the internet being what it is, it's hard to imagine a positive outcome from it all. As soon as we falter, and we will at some pint, things will get ugly. It's probably better if he just issued the occasional press brief and left the Tweeting alone. Yup, we're probably two losses away from him reading some clearings in the woods telling him to **** off back to Japan 5 Link to comment Share on other sites More sharing options...
DamsonwoodVillan Posted July 30, 2016 Share Posted July 30, 2016 An Internet search on his wealth takes you to an estimate on Forbes and Quora which states that the Recon Group is worth approx £1.8 billion, and his personal wealth is approx £1.2 billion. Link to comment Share on other sites More sharing options...
terrytini Posted July 30, 2016 Share Posted July 30, 2016 15 hours ago, TrentVilla said: On the topic of clauses, I have no issue with them as I said last summer so long as they are sensible in terms of the conditions and not all weighted to the player, so for instance I think they should be restricted to set dates with the window in order to allow a team to find a replacement. I do think it is very unrealistic for people to think players aren't going to want a relegation release clause when the club is requesting a clause to lower wages if relegated. Different sides of the same coin. Beggars cant be choosers, and for a long while we have been beggars. People who think release clauses aren't, or shouldn't, be necessary are, IMO, 'right', but I think a Club has to have at least a modicum of appeal to get players through the door. Given our plight in recent years I don't think it (wanting a Clause) would demonstrate a mercenary attitude on the part of a player. Hopefully now we can become a genuinely brighter prospect in the first place, with all the changes, and (hopefully by being able to offer decent deals too) attract players with more of a 'pull' than a 'push'. Link to comment Share on other sites More sharing options...
jonno_2004 Posted July 30, 2016 Share Posted July 30, 2016 3 hours ago, useless said: Someone posted this link on twitter, I've no idea if correct but apparently it shows that Xia capitalized the club at £400m minus what he paid for it. ' Statement of capital following an allotment of shares '. Per the SH01, they've converted the prom note (together with the accrued interest on it) between RAL and its shareholder to ordinary share capital. Link to comment Share on other sites More sharing options...
TRO Posted July 30, 2016 Share Posted July 30, 2016 (edited) 14 hours ago, useless said: He might not work out, but I think that it's clear already that he isn't a fraud. i too don't believe him to be a fraud either. I believe we have a sufficient supply of funds to do the job......my uncertainty is with the business of getting the right players to form a team to make an impact I have more confidence in the owner than the manager......that is not putting a downer on the manager, just nervous of how big the job is. Edited July 30, 2016 by TRO 1 Link to comment Share on other sites More sharing options...
TRO Posted July 30, 2016 Share Posted July 30, 2016 1 hour ago, DamsonwoodVillan said: An Internet search on his wealth takes you to an estimate on Forbes and Quora which states that the Recon Group is worth approx £1.8 billion, and his personal wealth is approx £1.2 billion. The crucial bit is not what he is personally worth.....its how prudently we spend the money he provides us with. Link to comment Share on other sites More sharing options...
jonno_2004 Posted July 30, 2016 Share Posted July 30, 2016 4 minutes ago, TRO said: The crucial bit is not what he is personally worth.....its how prudently we spend the money he provides us with. Indeed, or more accurately in line with the Recon Group's funding strategy as a whole. Link to comment Share on other sites More sharing options...
HanoiVillan Posted July 30, 2016 Share Posted July 30, 2016 46 minutes ago, jonno_2004 said: Per the SH01, they've converted the prom note (together with the accrued interest on it) between RAL and its shareholder to ordinary share capital. Yeah, thanks Bateman (or is it Paul Allen?) but could you put that in English for those who don't work on Wall Street? 1 Link to comment Share on other sites More sharing options...
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