Aberdeens Debt And New Stadium

[STANDfreeSCOTTY]

1) Whats does Aberdeens debt currently stand at?

 

2) More importantly, How much does this debt cost to service each year?

 

3) Will the new stadium leave us in bigger debt?

 

That is all.

[K-9]

1) Whats does Aberdeens debt currently stand at?

 

2) More importantly, How much does this debt cost to service each year?

 

3) Will the new stadium leave us in bigger debt?

 

That is all.

1. Circa 15 million last summer and going up 2 million a year.

 

2. Differs depending on what bank arrangements are. This years arrangements which run out in couple of weeks has little details released so hard to tell.

 

3. Yes. Higher debt wrapped into mortgage leaving the club paying it off over 25/30/35 years. Legacy.

[fine-n-dandy]

Thought they said they were only a few mil short (by few mil I mean LESS than our current debts total) of the funding needed for the new stadium?

 

So that means they've raised or ring fenced some cash 'somewhere' & also are taking into account the debt & the sale of Pittodrie & that we will come out at the end of it with a new stadium & a SMALLER debt than we currently have.

 

May be completely wrong but just thought someone from the club said this lately?????

 

[STANDfreeSCOTTY]

There must be a fair cost in servicing Aberdeen's debt. Surely if that was paid off that interest would no longer have to be paid. It would be easier to live within our means. I am thinking (hoping) that the next 2 seasons could prove to be good for season ticket sales, Last at todders, 1st at new stadium, hopefully get a bit of momentum going?

[fine-n-dandy]

There must be a fair cost in servicing Aberdeen's debt. Surely if that was paid off that interest would no longer have to be paid. It would be easier to live within our means. I am thinking (hoping) that the next 2 seasons could prove to be good for season ticket sales, Last at todders, 1st at new stadium, hopefully get a bit of momentum going?

 

 

I believe (as of a couple of season ago at least) it was around about the

[RUL]

That is correct but the last few loans have been rolled up, so you can't see the exact interest. The Bank also paid AFC pay money towards reducing the overall loan - but the amount is still showing in club accounts.

 

AFC haven't commented about how funds have been raised for new stadium but its widely expected the club are banking on funds from selling Pittodrie.

[STANDfreeSCOTTY]

I believe (as of a couple of season ago at least) it was around about the

[spamspamspam]

That is correct but the last few loans have been rolled up, so you can't see the exact interest. The Bank also paid AFC pay money towards reducing the overall loan - but the amount is still showing in club accounts.

 

AFC haven't commented about how funds have been raised for new stadium but its widely expected the club are banking on funds from selling Pittodrie.

 

Think they've said;

 

Sale of Pittodrie

Sale of naming rights for new stadium

Sale of/long term lease of office space within new stadium

Outside investment from other businessmen around Aberdeen, not sure though if they mean 'giz some cash' or invest in stadium at a fixed interest rate

[fine-n-dandy]

I don't know very much about finance or money. But Surely it makes sense in the long run, to wipe clean the debt, and continue to balance the books?

 

If 20,000 dons fans, gave

[STANDfreeSCOTTY]

Think they've said;

 

Sale of Pittodrie

Sale of naming rights for new stadium

Sale of/long term lease of office space within new stadium

Outside investment from other businessmen around Aberdeen, not sure though if they mean 'giz some cash' or invest in stadium at a fixed interest rate

 

Will they be selling bricks? You pay x and get your name engraved on a brick or a plaque? It stays there for the life of the stadium.

 

I would do this.

[Dazzler]

Think they've said;

 

Sale of Pittodrie

Sale of naming rights for new stadium

Sale of/long term lease of office space within new stadium

Outside investment from other businessmen around Aberdeen, not sure though if they mean 'giz some cash' or invest in stadium at a fixed interest rate

 

Hope not!

[STANDfreeSCOTTY]

Tell you what I'm in but you find the other 19,999 others first.

 

In fact I'll pay double that, if you can find half the amount willing to do the same.

 

Surely we could find 9,999 not tight fisted Aberdonians eh?

 

 

20 000 people to pay 14.40 a week,,, do it over 3 years, a fiver a week, once the interest has added up it will be well over 15m.

 

How much does milne want for Aberdeen?

[Stoney]

Why the fuck should the fans cover this boards disasterous running of the business

 

if anybodys paying in extra money its the cunts who have pissed it away over the years

 

Is willie miller still involved with the club would love to know how much money we have paid him in the last 8 years

[STANDfreeSCOTTY]

Why the fuck should the fans cover this boards disasterous running of the business

 

if anybodys paying in extra money its the cunts who have pissed it away over the years

 

Is willie miller still involved with the club would love to know how much money we have paid him in the last 8 years

 

lets be honest it would never happen, and I agree with what you are saying. But Milne is taking Aberdeen nowhere, he won't put a large injection into the club soon. We need someone to blindly throw money at Aberdeen and operate in such a way that we never ever go into debt. This doesn't look like happening soon either.

 

Have fans ever bought and successfully run a football club of our size?

[StandFree1982]

I edited my post and it created a new one....

 

see below

[StandFree1982]

I don't want the fans to buy and run the football club, but it would be good if we could contribute to paying off the debt. *

 

If we're paying 600k a year due to the debt, we'd be able to sign a couple of decent players for that if we could wipe it out.

 

* - and not just by going to games!

[Stoney]

Think the funs have paid enough over the years through various share issue etc.

 

Its time for the board to sort this mess out before it becomes un-sustainable (if it already isnt)

 

Still a little shocked that things have gotten so bad that we need to sell the stadium to clear the debt

[K-9]

Thought they said they were only a few mil short (by few mil I mean LESS than our current debts total) of the funding needed for the new stadium?

 

So that means they've raised or ring fenced some cash 'somewhere' & also are taking into account the debt & the sale of Pittodrie & that we will come out at the end of it with a new stadium & a SMALLER debt than we currently have.

 

May be completely wrong but just thought someone from the club said this lately?????

 

That included the projected stadium sales money and the additional mortgage on new stadium.

[K-9]

I don't want the fans to buy and run the football club, but it would be good if we could contribute to paying off the debt. *

 

If we're paying 600k a year due to the debt, we'd be able to sign a couple of decent players for that if we could wipe it out.

 

* - and not just by going to games!

Even without the 600k interest we would still be losing almost 1.5 million a year so wouldn't get it to spend anyway. Board continuing to vastly overspend.

[slippers]

Even without the 600k interest we would still be losing almost 1.5 million a year so wouldn't get it to spend anyway. Board continuing to vastly overspend.

Led to believe pittodrie is making a massive loss aswell!

[RTYD]

1. Circa 15 million last summer and going up 2 million a year.

 

2. Differs depending on what bank arrangements are. This years arrangements which run out in couple of weeks has little details released so hard to tell.

 

3. Yes. Higher debt wrapped into mortgage leaving the club paying it off over 25/30/35 years. Legacy.

 

Or long term asset versus long term liability.

[STANDfreeSCOTTY]

Even without the 600k interest we would still be losing almost 1.5 million a year so wouldn't get it to spend anyway. Board continuing to vastly overspend.

 

 

Led to believe pittodrie is making a massive loss aswell!

 

So basically we are fucked and should just wait for it to happen? how long have we got left do you think?

[RTYD]

That is correct but the last few loans have been rolled up, so you can't see the exact interest. The Bank also paid AFC pay money towards reducing the overall loan - but the amount is still showing in club accounts.

 

AFC haven't commented about how funds have been raised for new stadium but its widely expected the club are banking on funds from selling Pittodrie.

 

 

If we don't pay the VAT and PAYE for the next two years that should take care of most of the shortfall.

[RTYD]

I don't know very much about finance or money. But Surely it makes sense in the long run, to wipe clean the debt, and continue to balance the books?

 

If 20,000 dons fans, gave

[V for Vendetta]

1. Circa 15 million last summer and going up 2 million a year.

 

2. Differs depending on what bank arrangements are. This years arrangements which run out in couple of weeks has little details released so hard to tell.

 

3. Yes. Higher debt wrapped into mortgage leaving the club paying it off over 25/30/35 years. Legacy.

 

Bigger overall debt but much cheaper to finance year to year as its secured against the new stadium.

Coupled with less drain on stadium maintenance should result in a healthy improvement in the annual figures.

[Stoney]

So basically we are fucked and should just wait for it to happen? how long have we got left do you think?

Everything rests on the sale of the ground

[STANDfreeSCOTTY]

Neither do the bulk of the 20,000. Nice sentiment.

 

 

Do you know when fans would get out their money?

If we were going tits like the Huns.

 

 

 

It's like war. We are so inventive in wartime yet cannot solve the problems of peace.

[STANDfreeSCOTTY]

If there was a scheme where the fans could try and buy the club, I would be interested in it, and would put what i can into it.

 

As its football, I wouldn't expect to ever see a return of investment, I would do it for seeing success, trophies and good football on the pitch.

[V for Vendetta]

If there was a scheme where the fans could try and buy the club, I would be interested in it, and would put what i can into it.

 

As its football, I wouldn't expect to ever see a return of investment, I would do it for seeing success, trophies and good football on the pitch.

 

I muted the idea of a club membership scheme on here in the past:

 

Fans pay £30 a year to be a member of the club.

Season tickets and match tickets are ONLY sold to registered members.

Season ticket prices are reduced so that they get the £30 back - no change in cost for them

Registered fans who don't claim the £30 back off a season ticket can get 1 matchday ticket free in return instead plus a few vouchers for the shop.

 

So basically all season tickets holders and occasional attendees get there money back.

 

Whats the gain? I believe there would be a significant number who would become members and simply renew that by DD every year whether they could attend or buy tickets or not.

 

I for one would do this and my attendance is nearly always restricted to away games. So in my case I'd gladly be handing over money for nothing. I think a lot of fans in the central belt who can't go to games would still join. Fans in england or abroad as well.

 

You get a wee membership card and a membership number - thats all.

 

The club also have full details of ALL fans and can use this more effectively to market games, merchandising etc.

 

EDIT: I meant to say that if this was successfully implemented in 5 years time those members could be voting for representatives on the board, a "president" or whatever.

[a don in oz]

If we don't pay the VAT and PAYE for the next two years that should take care of most of the shortfall.

 

I see what you did there *dramatic music*, Mr Whyte!