Dan Burn

[Quakerz]

but we now only get half with the other half going to dfc 2009 creditors.

And of course the dfc2009 creditors = mostly Radged Strings.

[joejaques]

So we need Stekelenberg out for a couple more months really.

Anyone know where he lives?

You sending the boys round? we have a hero in the Tin shed who likes to throw punches around as long as his mates are there to egg him on............

Send GR round with a couple of heavies to "doorstep" him.

[m62exile]

but we now only get half with the other half going to dfc 2009 creditors.

And of course the dfc2009 creditors = mostly Radged Strings.

Trawling my memory banks a bit but doesn't that change if the 2009 ltd business has been liquidated? I could be wrong but I thought once liquidated the creditors lost any entitlement. Maybe that's just wishful thinking.

[Spyman]

On the subject of footballers with cool names, I notice that there is a Belgian international defender at the moment who is called ........... Mark De Man !!

Were we?

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[micra3]

but we now only get half with the other half going to dfc 2009 creditors.

And of course the dfc2009 creditors = mostly Radged Strings.

Trawling my memory banks a bit but doesn't that change if the 2009 ltd business has been liquidated? I could be wrong but I thought once liquidated the creditors lost any entitlement. Maybe that's just wishful thinking.

I could be wrong but i think Harvey Madden acquired the (dfc2009)liquidated company as a form of payment from our last administration-RS gets nowt

[quakerste]

I think you are right I believe it was a 50-50 split with Harvey for all the sell on clauses.

[m62exile]

but we now only get half with the other half going to dfc 2009 creditors.

And of course the dfc2009 creditors = mostly Radged Strings.

Trawling my memory banks a bit but doesn't that change if the 2009 ltd business has been liquidated? I could be wrong but I thought once liquidated the creditors lost any entitlement. Maybe that's just wishful thinking.

I could be wrong but i think Harvey Madden acquired the (dfc2009)liquidated company as a form of payment from our last administration-RS gets nowt

That's what I was thinking too, just can't remember where I heard it.

[lo36789]

As far as I am aware the winding up won't be complete of dfc2009.

The payments we are making (£5k per month) are going to Harvey Madden then on an annual basis he will make a dividend to the creditors (depending on the proportion of their debt). Preferred creditors (employees) come first and will receive all the dividends until they are fully paid off.

This is how a normal liquidation works anyway.

[m62exile]

Have just checked this. DFC 2009 Ltd is in liquidation but the winding up has not yet been concluded, partly due to "potential recoveries from player transfers".

The liquidators do state that "it is expected that a dividend may be payable to unsecured creditors [ie Singh] but at this time the joint liquidators cannot comment on the amount or timing of any dividend"

As for the point above about the £5k p.month....most of this is the TUPE obligations we inherited, so these will not need to go near the liquidators as they are our liability.

Bearing in mind it took the various fans and directors £55k on Peugeot day + 100k to get to the end if the 11-12 season + the vast TUPE obligations it is no wonder we are still struggling to get on an even keel.

A windfall from Dan Burn tomorrow would honestly be a small bit of good fortune by comparison.

[Darlo Till I Die]

Well dan Burn is not in the squad for Fulham tomorrow according to BBC sport.

[DL5]

Well dan Burn is not in the squad for Fulham tomorrow according to BBC sport.

The BBC's speculation? which is bollocks, it includes Bettinelli who has gone back to Accrington on loan

Fulham fans seem to think he'll figure and are looking forward to seeing him if it happens

To be honest I'd be amazed if he was recalled from a successful loan mid term not to be named in the squad, he's been given squad no 33

[tezza]

Any one heard if Dan Burn has made the squad for todays match?

[Darlo_G]

Dan Burn starts

[Darlo.For.Life]

He starts today against Norwich, good luck to him!

[piggy]

Dan Burn starts

[richymidd]

Official fulham twitter feed saying burn (and stockdale) both starting against norwich. huzzah!

[lo36789]

The man who potentially saved Darlington Football Club...quite an achievement for such a young player!

[shawry]

Does that mean £70k? for us? And if so I assume all going to service historical debt because it goes to the football club, rather than the back to darlo?

[love it!]

I personally think pay the debt monthly at £5k and bank the income made. Why overpay the debt early as long as we can sustain the club on the current basis until the end of the season at least.

[Spyman]

I personally think pay the debt monthly at £5k and bank the income made. Why overpay the debt early as long as we can sustain the club on the current basis until the end of the season at least.

Because we can't sustain the club on the current basis.

You never know when attendance's might drop - if we don't go up, if the return to Darlo hits a bump etc. The longer the debt hangs over us, the longer we rely on gate receipts being as high or higher than they currently are.

Get rid of the debt and we will not only have the biggest attendance at this level and the next couple of steps up, bit we'll actually be able to benefit from it!

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[gabbas]

I personally think pay the debt monthly at £5k and bank the income made. Why overpay the debt early as long as we can sustain the club on the current basis until the end of the season at least.

It would depend if their is any interest on the repayments, I am presuming there is so the best thing to do would be to pay off as much of the debt as possible.

[shawry]

I personally think pay the debt monthly at £5k and bank the income made. Why overpay the debt early as long as we can sustain the club on the current basis until the end of the season at least.

Because this is Darlo, and I would rather become debt free asap, as Im sick of hearing we are on life support, or need to raise funds to see out the season.

I dont want us to bank the money, then dip into it for players.

I want us debt free asap, then all money raised can be for the return to darlo, and for the team, we will never have to overstretch again.

[love it!]

There is no interest on the repayments from my understanding. We over paid the debt last season and it nearly killed us. Repay on monthly basis with the safety net of having money in the bank also

[gabbas]

If that's the case I would be tempted to keep some of it in the bank if we can. If we need to pay it all to become sustainable then so be it, if not how much interest would 20 or 30k make a month?

[lo36789]

the agreement is there for £5k per month, so I imagine we will have to keep to this.

It is not that hard to manage, given current debt will stand at £150k (based on the movement from June 2013 - June 2014 in the accounts). This cuts our monthly repayments to £2.5k.

Assuming we can afford 50% of our debt repayments (which is still a big ask but I'd say it is doable) this Burn deal sees us right until the end of the debt repayments. We will also have some cash to hand which covers us if we have a dry revenue patch.

[shawry]

I personally think pay the debt monthly at £5k and bank the income made. Why overpay the debt early as long as we can sustain the club on the current basis until the end of the season at least.

Because we can't sustain the club on the current basis.

You never know when attendance's might drop - if we don't go up, if the return to Darlo hits a bump etc. The longer the debt hangs over us, the longer we rely on gate receipts being as high or higher than they currently are.

Get rid of the debt and we will not only have the biggest attendance at this level and the next couple of steps up, bit we'll actually be able to benefit from it!

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This.

[love it!]

the agreement is there for £5k per month, so I imagine we will have to keep to this.

It is not that hard to manage, given current debt will stand at £150k (based on the movement from June 2013 - June 2014 in the accounts). This cuts our monthly repayments to £2.5k.

Assuming we can afford 50% of our debt repayments (which is still a big ask but I'd say it is doable) this Burn deal sees us right until the end of the debt repayments. We will also have some cash to hand which covers us if we have a dry revenue patch.

This

[Fatty eats roadkill]

Use the lot to pay off the current debt.

I'm sick of hearing we need cash AND it takes the pressure off of the fundraiser!

Interest on £50k or whatever is nowt!

[Bogratsteve]

Use the lot to pay off the current debt.

I'm sick of hearing we need cash AND it takes the pressure off of the fundraiser!

Interest on £50k or whatever is nowt!

Agree, free the debt and then we can concentrate on the return to Darlo fund

[lo36789]

Use the lot to pay off the current debt.

I'm sick of hearing we need cash AND it takes the pressure off of the fundraiser!

Interest on £50k or whatever is nowt!

It doesn't clear the debt though? It covers half of it.

We have an obligation to pay £5k per month. I don't know the ins and outs though if we pay off £75k now do we still have to pay £5k per month after that but for a shorter period (because that is no good)? Or can we then pay £2.5k per month?

The result is the same really, we are going to be paying off debt until the period originally agreed. The interest is nothing so that wouldn't be the deciding factor.