mark lawn

Not disputing you however what assets did the club have for them to borrow against
They don't own the ground I really don't know what they could have used as a guarantee
Genuine question

 

Please can someone explain how this can happen?

 

Some things shouldn't be written even to prove a point !!!!

 

The issue was money. They ploughed everything into the McCall failed promotion attempt and then had tiny budgets for the next couple of season's.

 

I don’t have the answer to that . Like I say my understanding is very basic .
Would they need assests to borrow against if the loan was from rupp himself ? I don’t know

 

From what I’ve been told yes . I have no proof and I won’t be naming my source but if this is the case there in a win win situation if they can sustain the crowds (struggle on current form) Problems could possibly arise if we were to be relegated

 

If true, then wow!

 

The club is a limited company and the directors just run it.
If a director inputs there own personal money by way of a loan then they are entitled to take it back.
Mark Lawn took his 1 million loan back from the club after the 2013 Cup run / promotion.

 

I understand, but what loan? I am not aware that Rupp has loaned us money?

 

If he is any kind of business man and loaned money to anyone he would have made sure whoever or whatever organization he was lending to had sufficient income/assets to repay such a loan
It's like buying a house until such times as the mortgage is settled in full the person/ organization lending the money own part/ all of it. Rupp is a very successful business man with presumably savvy financial advisers maybe he sees something in his investment in BCFC I don't

 

I am I getting this right? Both Rahic and Rupp took out a loan with Rupp’s other company, to pay for the club then paid the loan back by taking income generated by City?

 

He's been hoodwinked by Mr Rahic.

However, if as @Fools Gold says his investment is actually being funded by money being taken out of the club, then no wonder he isn't taking much interest in what is going on. As long as fans turn up, his investment is being repaid.

 

No idea.

Rahic’s new motor is a belter though.

 

What a time to be alive.

 

If this is true, they have funded the buying of City from City’s income? Is this legal? Your right Rupp couldn’t care less as long as the payments keep coming. When they sell, it will be like a bonus!! They are already quids in.

 

Completely legal.

Pretty sure that this was the type of arrangement our previous owners wanted to avoid handing over to.

 

I feel like our club is being systematically dismantled in the persuit of money. Our club can not afford to fund its own purchase, no wonder we had to reduce the playing budget. Anger is not the word that describes my feelings at the moment!!” How can we acquire evidence that this is exactly what has happened? P,us it will be Rupp calling the shots on the budget as he has the most to get back!!

 

mccall doesn’t fail. he’s let down by everything and everyone around him.

 

To be fair, we don't know if this is the case, and as @Dennis has said, in his view there is nothing in the accounts to suggest this with regard to Mr Rupp.

@Dennis can you see accounts to the level where significant payments out are explicit?