terrytini Posted June 5, 2018 Share Posted June 5, 2018 On 04/06/2018 at 14:39, terrytini said: Without wishing for either an argument or to be called stupid, could someone who properly understands these things ( not just google, or hearsay, or paper talk, I can do all that myself) explain to me the £150/£160 million he is said to have spent so far ? Genuine question, I’m not having a dig or anything at all. Its just that in my non- financial brain he spent £70odd million on the Club, which, near enough, he gets back when he sells, so that’s effectively zero, and everything else has been financed by either (a) tv/ parachute/ tickets/ merchandising, or (b) is a debt to be repaid ? PLEASE just factual stuff ! So......the question is maybe more pertinent than ever, and the absence of ANY explanation by anybody as to what has definitely been invested maybe very informative. Link to comment Share on other sites More sharing options...
Daweii Posted June 5, 2018 Share Posted June 5, 2018 Just now, dounavilla said: If that figure is correct that is very worrying. 4.2 million is about the same as Charles Nzogbia's shirt collection. The fact that the wording of "we're confident of paying a substantial amount" is scary. £4.2 million is pocket change, or should be pocket change to a football club of our pedigree. I know we've been shit for 8 years, but the fact it sounds like we can't even pay all of that bill in one go? It's **** man.. Link to comment Share on other sites More sharing options...
honest_bertie Posted June 5, 2018 Share Posted June 5, 2018 Makes you wonder the point of due diligence that is supposed to happen when someome buys a club. Sadly sounding more and more like Xia, Wyness and Samuelson were a bunch of chancers pinning hopes on promise of premier league riches 1 Link to comment Share on other sites More sharing options...
mykeyb Posted June 5, 2018 Share Posted June 5, 2018 So now we know why the vultures are circulating for a takeover 1 Link to comment Share on other sites More sharing options...
TheAuthority Posted June 5, 2018 VT Supporter Share Posted June 5, 2018 Weren't Steve Hollis and Mervyn King meant to have done the due diligence on Xia? King was on TV talking about how excited Villa fans should be about Xia taking over. Also where the f*^k are the "Aston Villa Supporters Trust"? (ran by Howard Hodgson) They were set up when Xia bought the club to keep an eye on things weren't they? Why haven't they made a statement? https://twitter.com/Villa_Trust Link to comment Share on other sites More sharing options...
Jareth Posted June 5, 2018 Share Posted June 5, 2018 7 minutes ago, dounavilla said: John Percy: Conversation John Percy @JPercyTelegraph Aston Villa hit with £4.2m tax bill (should be resolved this week) but club facing financial crisis (short-term cash flow) #avfc #turnsoffnotifications (link: https://www.telegraph.co.uk/football/2018/06/05/aston-villa-plunged-financial-crisis-42m-tax-bill-leads-threat/?WT.mc_id=tmg_share_tw) telegraph.co.uk/football/2018/… via @telefootball Thought it worth posting this bit, not a doomsday scenario yet - It is understood Villa were late making the regular tax payment last Friday and though club sources insist the issue will be resolved this week, the West Midlanders are now gripped in a financial crisis. Dr Tony Xia, the owner and chairman, is alleged to be struggling with cash-flow issues in China, which restricts the distribution of money leaving the country. There is no suggestion that Xia is struggling financially. Link to comment Share on other sites More sharing options...
Keyblade Posted June 5, 2018 Share Posted June 5, 2018 This is very worrying, but I'll wait until we know more. It's all very vague now. 2 Link to comment Share on other sites More sharing options...
terrytini Posted June 5, 2018 Share Posted June 5, 2018 2 hours ago, wilko154 said: I don't really understand why everyone is once again jumping on the Xia has no money bandwagon. Wyness hasn't paid the tax, he's been suspended. Xia isn't going to suspend the bloke after not making the funds available to him. FFP is restricting Xia from spending any money, it's not that he hasn't got it. The Amavi & Sanchez deals were pushed through last season to deal with FFP, it's a gamble that we were going to go up and the cash would iron out last seasons FFP problems. Granted that hasn't worked out but it's still all a part of the 3 year FFP pot. Some people need to chill out, it's been less than a week, give Xia some time to sort things out and release a proper statement. I agree there’s no evidence to say he has no money, and some are being premature. However, there is no evidence to suggest he has a lot of money either, and some are being over confident in their assertions that he has. 2 Link to comment Share on other sites More sharing options...
Xela Posted June 5, 2018 Share Posted June 5, 2018 Sounds like a quarterly VAT bill. The worrying phrase is "confident of paying". It should be, "It will be paid". Cash is king in business and many fundamentally sound businesses have gone under due to cash drying up. Sounds as though we need to restructure our finances - perhaps leverage off against some fixed assets/property we own to give us a cash boost then set about reducing costs going forward (selling key players etc) Doesn't look great 3 Link to comment Share on other sites More sharing options...
Xela Posted June 5, 2018 Share Posted June 5, 2018 I'm no expert but don't you need Chinese government approval to get money out of the country? Perhaps this is the delay in transferring funds from Recon to Villa? Link to comment Share on other sites More sharing options...
Jareth Posted June 5, 2018 Share Posted June 5, 2018 Just now, Xela said: I'm no expert but don't you need Chinese government approval to get money out of the country? Perhaps this is the delay in transferring funds from Recon to Villa? That seems to be what John Percy is getting at. If so then Tony is right to be in China at the moment rather than at VP, hopefully he is successful. Link to comment Share on other sites More sharing options...
MikeMcKenna Posted June 5, 2018 VT Supporter Share Posted June 5, 2018 12 minutes ago, terrytini said: I agree there’s no evidence to say he has no money, and some are being premature. However, there is no evidence to suggest he has a lot of money either, and some are being over confident in their assertions that he has. Reaching a point where HMRC are threatening a wind up order, a request for more time to pay and a promise to make a ‘substantial’ payment is all evidence that the club definitely don’t have any money and that probably Xia hasn’t either. Link to comment Share on other sites More sharing options...
Dr_Pangloss Posted June 5, 2018 Share Posted June 5, 2018 2 minutes ago, Xela said: I'm no expert but don't you need Chinese government approval to get money out of the country? Perhaps this is the delay in transferring funds from Recon to Villa? It's not as though a quarterly tax bill just happened on us, it would be known well in advance so no excuses really. 1 Link to comment Share on other sites More sharing options...
tinker Posted June 5, 2018 VT Supporter Share Posted June 5, 2018 We can borrow against he future sale of players , Grealish. Our outgoing CEO is well aquatinted with this type of arrangement , just hope he hasn't already done it. Link to comment Share on other sites More sharing options...
Xela Posted June 5, 2018 Share Posted June 5, 2018 1 minute ago, Dr_Pangloss said: It's not as though a quarterly tax bill just happened on us, it would be known well in advance so no excuses really. Very true. HMRC is the first bill you pay, ahead of everything else. 3 Link to comment Share on other sites More sharing options...
terrytini Posted June 5, 2018 Share Posted June 5, 2018 Just now, MikeMcKenna said: Reaching a point where HMRC are threatening a wind up order, a request for more time to pay and a promise to make a ‘substantial’ payment is all evidence that the club definitely don’t have any money and that probably Xia hasn’t either. I agree......or at least he may well not have any for us, which is what matters. I was just suggesting that either group saying the others had no evidence ( actual evidence) of his wealth or non wealth were doing the same. My own view .......well see the question yesterday......I’ve seen nothing that says he has money, and plenty that he doesn’t. Link to comment Share on other sites More sharing options...
MikeMcKenna Posted June 5, 2018 VT Supporter Share Posted June 5, 2018 12 minutes ago, terrytini said: I agree there’s no evidence to say he has no money, and some are being premature. However, there is no evidence to suggest he has a lot of money either, and some are being over confident in their assertions that he has. Reaching a point where HMRC are threatening a wind up order, a request for more time to pay and a promise to make a ‘substantial’ payment is all evidence that the club definitely don’t have any money and that probably Xia hasn’t either. Link to comment Share on other sites More sharing options...
Popular Post Xela Posted June 5, 2018 Popular Post Share Posted June 5, 2018 I don't buy (yet) that Xia is skint and a fraud. 5 Link to comment Share on other sites More sharing options...
terrytini Posted June 5, 2018 Share Posted June 5, 2018 (edited) 7 minutes ago, terrytini said: I agree......or at least he may well not have any for us, which is what matters. I was just suggesting that either group saying the others had no evidence ( actual evidence) of his wealth or non wealth were doing the same. My own view .......well see the question yesterday......I’ve seen nothing that says he has money, and plenty that he doesn’t. @MikeMcKennaI raise you a repeat answer to your repeat quote lol Edited June 5, 2018 by terrytini Link to comment Share on other sites More sharing options...
The Fun Factory Posted June 5, 2018 Share Posted June 5, 2018 26 minutes ago, TheAuthority said: Weren't Steve Hollis and Mervyn King meant to have done the due diligence on Xia? King was on TV talking about how excited Villa fans should be about Xia taking over. Also where the f*^k are the "Aston Villa Supporters Trust"? (ran by Howard Hodgson) They were set up when Xia bought the club to keep an eye on things weren't they? Why haven't they made a statement? https://twitter.com/Villa_Trust Wow that a blast from the past- I haven't heard from them since about 2006. The club is a mess and we are in freefall. Its taken less than 2 weeks for the masterplan to be revealed as a few pieces of cardboard held together by sticky tape. We.Are.Screwed. Link to comment Share on other sites More sharing options...
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