Accounts

[philpvfc]

52 minutes ago, JoeB2 said:

Norman.

I hate Norman too, but he did put money into the club in the form of repayable director's loans for a number of years to the tune of £4m-ish.

Smurf made a lot of money from Port Vale. Carol has lost a lot of money to Port Vale. Massive difference. 
 

We have a very good owner of the club, whose heart is in the right place and personally I trust her. By her own admissions she has made mistakes, I’m just hoping she does recognise Flitcroft is one of them. If I am wrong, and Flitcroft is not a mistake then the recruitment team and scouting team need to go.

[Packmoor_vale]

54 minutes ago, JoeB2 said:

Norman.

I hate Norman too, but he did put money into the club in the form of repayable director's loans for a number of years to the tune of £4m-ish.

Was some of that money from the club shop and money we spent in the ground etc going into a different company and then him borrowing it back to us 

[JoeB2]

18 minutes ago, philpvfc said:

Smurf made a lot of money from Port Vale. Carol has lost a lot of money to Port Vale. Massive difference. 
 

We have a very good owner of the club, whose heart is in the right place and personally I trust her. By her own admissions she has made mistakes, I’m just hoping she does recognise Flitcroft is one of them. If I am wrong, and Flitcroft is not a mistake then the recruitment team and scouting team need to go.

100% agree. Was only being a bit pedantic and backing up the poster that made the point that both Smurthwaite and Carol sunk millions into Port Vale via directors' loans - as pretty much every lower league owner has to do.

It's a wider sign of how broken football is at present. Carol appears to be trying to break the cycle by moving to this sustainable, long-term, academy products + loans model, and as a result we're battling relegation and everyone is miserable.

[Jacko51]

Carol and Kevin has invested their own money.  My understanding is that Smurf set up sole trader business to take income from the club - the retail operation for example - and then loaned the club its own money back.  And there is the interesting question about what happened to all the money when Wildes was in charge - there are no accounts for that period are there because Smurf changed the name of the business in February 2014.

[valeparklife]

Carols loans are genuine.

Smurthwaite was taking money out of the club, lending it back to us, and charging interest.

Very very different.

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[Guitar Ray]

Incredible that people can compare the current owners with the previous one.  Folk must have very short memories.

[matmat]

It looks like a further £3m in loans from Carol over the previous year. Synetics are making about £1.7m per year after tax, don't know about Carol's personal wealth, but if the club is being funded purely from Synetics then the amount Carol is putting into the club doesn't look sustainable long term.

 

I'd guess a lot of the money been put in so far has been to buy the club, fund capital expenditure on the ground, facilities & training areas, once that work is complete then that should reduce the amount of ongoing investment required from the owners. 

 

[Killersrevenge44]

As Robbie is now the club president, I think the onus on him is to 'put up or shut up' and invest.

 

3 million should reset the accounts to a clean bill of health, and provide a good managerial package plus three decent players

If the current owners are running out of money, any managerial appointment can be offset by getting rid of Flitcroft

[TJHValiant]

2 minutes ago, Killersrevenge44 said:

As Robbie is now the club president, I think the onus on him is to 'put up or shut up' and invest.

 

3 million should reset the accounts to a clean bill of health, and provide a good managerial package plus three decent players

If the current owners are running out of money, any managerial appointment can be offset by getting rid of Flitcroft

Robbie only became the President because he had the chance to enjoy a nice, free dinner and the adoration of locals. Nothing to do with wanting to invest in the club. 

[TJHValiant]

2 hours ago, valeparklife said:

Carols loans are genuine.

Smurthwaite was taking money out of the club, lending it back to us, and charging interest.

Very very different.

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Smurfwaite was also a total arse and separated Vale Park from the club. 

[Playa Amodores]

34 minutes ago, TJHValiant said:

Smurfwaite was also a total arse and separated Vale Park from the club. 

Lots of owners do that, the club and the ground even though they’re the same owners are two different businesses. They charge their own team for using training facilities and every time they play at VP. This is how it is, probably tax avoidance, that’s why you don’t buy a football club unless you own the ground as well. Didn’t our previous owner want to keep VP, initially.?

[manc_vale]

On 09/02/2024 at 21:34, Roy_Of_The_Rovers said:

The club currently in debt of around 10 million to Synetics. 

I don't think that is the case. Yes there is a figure of 10 million in the accounts, but that is total owned to Synetics from all other parties. Not just Port Vale.

I think the amount loaned to Port Vale is actually 6.7million (see page 35). Still a big sum, but not as bad as 10 million.  As others have stated they loaned Port Vale 2.9 million last year or in footballing terms last season. Its no surprise given that amount that the money was not flowing last season.

Costly business owning a football club, even one that you are trying to run sensibly

[dishydave]

No, he was doing the same as Carol - Director's Loans.

He was charging interest though.

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[manc_vale]

2 minutes ago, dishydave said:

He was charging interest though.

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Key difference there. He charged interest. Carol via Synetics solutions is not charging interest on the money loaned to Port Vale.

[mbycars]

2 hours ago, TJHValiant said:

Robbie only became the President because he had the chance to enjoy a nice, free dinner and the adoration of locals. Nothing to do with wanting to invest in the club. 

I hope you realise how ridiculous that sounds. A free dinner 😂😂😂 He also has the adoration of millions of fans all round the world and many thousands of locals.