I'm also not an accountant but if he calls it a director's loan, can he not look for it to be repaid at some point in the future? Even if it's a Bertie-esque loan, he'd still be able to ask for his money back, surely.
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AFAIK it won't be in as Directors loan.
If anyway seen the the make up of our new board, its packed with corporate analysts, accountants, solicitors and other financial boffins. I'm sure they'll find a way of making everything beneficial to everyone
You can't keep any secrets in this league!
Tried that. Doens't work. Setanta are trying it at the moment
How much are these people getting paid, by the way? Are they full time?
Your comment that your backer has loads of money sounds an awful lot like Drogs fans' comments about their backers, who are now talking publicly about the wells drying up.
Pat's do have the advantage that the money is being put in as share capital and not as directors' loans (Drogs) or sale of ground (Shels), but I'm just naturally cynical about a property developer taking over a club, promising to turn it into a European force, buying a load of property immediately around the ground (I think?) and losing a million a year. The league has been here before.
You're right to be cynical about property developers as alot of them are hawks but Kelleher aint one of them.Everyone agrees that the league needs investment so we cant treat every single investor as a villain.I suppose it all comes down to trust and he and the board seem genuine.
It's a pity we call cant have a state funded university to finance our beloved clubs but that's the way thngs are!