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Jake Young

Discussion in 'City Talk' started by Rcbantam, Nov 20, 2023.

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Will we see Jake young PLAY in a city shirt

  1. Yes before the transfer window ends

    11 vote(s)
    21.2%

  2. Yes after the transfer window ends

    18 vote(s)
    34.6%

  3. No

    18 vote(s)
    34.6%

  4. Who's Jake young

    5 vote(s)
    9.6%
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  1. Dennis

    Dennis Captain
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    It wasn't so much about his 6 weeks of madness which certainly didn't help. It was more about his 6 minutes of madness in the boardroom when the directors agreed to pay themselves nearly £8mill in dividends when the club wasn't even making a profit!
     
    #2001 Dennis, Jan 17, 2024
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  2. borderlescott

    borderlescott Squad Player

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    Carlisle have a habit of employing bell ends. He’s not as high up the list as Keith Curle, mind!
     
    #2002 borderlescott, Jan 17, 2024
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  3. borderlescott

    borderlescott Squad Player

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    How were they able to do that Dennis, if dividends are only supposed to come out of profit?

    did the directors just take anyway and then face whatever tax consequences (assuming rules were the same 20 years ago)?
     
    #2003 borderlescott, Jan 17, 2024
    Onside and donhutchinsaffro like this.
  4. NorthernMonkey

    NorthernMonkey Squad Player
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    And yet the Rhodes seemed to come out of it all scot free while GR took the brunt.
     
    #2004 NorthernMonkey, Jan 17, 2024
    Bantamsteve, bantamdave41, Silverbantam and 4 others like this.
  5. Park bantam

    Park bantam Regular Starter
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    But nobody is going to pay over the odds from lower league one
     
    Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...
    #2005 Park bantam, Jan 17, 2024
  6. Park bantam

    Park bantam Regular Starter
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    No takers. We can quite rightly value him for what we want. I told you GA on what must have been two dozen occasions has said in various ways he wants to pick him when fit he was brought back to play unless anybody wants to pay silly money.
     
    Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...
    #2006 Park bantam, Jan 17, 2024
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  7. Dennis

    Dennis Captain
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    That's very true. It was done by sleight of hand imo. The club comprised two separate companies at the time. One company, the club really, was owned by the other, the holding company. The holding company was owned by the shareholders, the Rhodes and Richmond families. The company which 'owned' the club made a loss every year amounting to several millions. The holding company charged the club nearly £8m in so-called management fees which increased the club's losses even further. The holding company booked the management fee which it effectively charged itself as 'profit'. This profit for the holding company was then paid out as dividends in real cash! GR also received an additionak £250k each season paid into one of his own companies as a service fee. Where did the cash come from to pay the dividends? The club had taken on board lots of loans for rebuilding the ground and funding new players. Some of the cash received by the club was itself loaned to the holding company rather than being used for its intended purposes. It came as no surprise when the club later couldn't pay its way because it had no cash left and had to seek administration.

    At that point the club had debts and other long term commitments (including to a couple of leasing companies which paid the transfer fees on a couple of players) amounting to just over £36mill. And this happened 20 years ago so heaven knows what the equivalent values would be in today's footballing world.

    To answer @NorthernMonkey@NorthernMonkey s point about the Rhodes'. Yes they were equally culpable and received the dividends in the same way GR did. The Prof admitted later that they put too much trust in GR and should have questioned him more. But of course they didn't.
     
    #2007 Dennis, Jan 17, 2024
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  8. Kevin1954

    Kevin1954 Squad Player
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    So it was him that set the seed for shell companies to own football clubs!
     
    #2008 Kevin1954, Jan 17, 2024
  9. Dennis

    Dennis Captain
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    I don't know about that but he certainly used that structure to create non-existent profit to pay as dividends to feather his own and the other directors' nests.
     
    #2009 Dennis, Jan 17, 2024
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  10. Marco sas

    Marco sas Breakthrough Prospect

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    I’d take 300k to 350k otherwise he will come back player 20 games offer very little and score 2 to 3 goals then be worth 50k at most. Bang average player and very overrated
     
    #2010 Marco sas, Jan 17, 2024
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  11. NorthernMonkey

    NorthernMonkey Squad Player
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    Didn't Carlisle pay around £500,000 for Luke Armstrong after 29 goals in over 100 appearances?

    Surely that's the correct ballpark for Jake Young too?
     
    #2011 NorthernMonkey, Jan 17, 2024
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  12. NorthernMonkey

    NorthernMonkey Squad Player
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    That's probably because they had at least 2 million reasons not to question him too much at that time!
     
    #2012 NorthernMonkey, Jan 17, 2024
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  13. Rogered Tart

    Rogered Tart Regular Starter
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    Sad thing is any other sane businessman would have done the same. No morals in the business world, all about keeping the life of luxury afforded to you. Sod the little guy, he always gets taken to the cleaners.
     
    #2013 Rogered Tart, Jan 17, 2024
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  14. borderlescott

    borderlescott Squad Player

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    Great insight. Thanks!
     
    #2014 borderlescott, Jan 17, 2024
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  15. Old Grey Fox

    Old Grey Fox Squad Player
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    That's the fee Wrexham were apparently prepared to pay,but nothing like the fee Carlisle are said to have paid,but as it's undisclosed,we may never know.
     
    #2015 Old Grey Fox, Jan 17, 2024
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  16. NorthernMonkey

    NorthernMonkey Squad Player
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    Anywhere between £140,000 and £500,000 then given it's apparently a club record fee.
     
    #2016 NorthernMonkey, Jan 17, 2024
  17. Bantam75

    Bantam75 Impact Sub

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    any chance we could move all the Richmond talk to a separate thread? Not like it has anything to do with Jake Young. No wonder this thread is 100 pages long
     
    #2017 Bantam75, Jan 17, 2024
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  18. NorthernMonkey

    NorthernMonkey Squad Player
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    Is it getting in the way of all the other news we're hearing every day about Jake Young?
     
    #2018 NorthernMonkey, Jan 17, 2024
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  19. Kevin1954

    Kevin1954 Squad Player
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    Thanks Dennis, a model for others to follow , especially in the age of Sky?
     
    #2019 Kevin1954, Jan 17, 2024
  20. Onside

    Onside Squad Player
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    There is name for that!!
     
    #2020 Onside, Jan 17, 2024
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