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Keith Wyness Vs. Stewart Milne/robert Earl?


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#1 Louis

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Posted 19 Jan 2007 - 02:15

When at Aberdeen Keith Wyness told the Aberdeen chairman to open his purse strings and lend the club 8million to cover the clubs debt. This would have apparently saved the dons 400k on interest a year from a bank loan. Unfortunately the chairman never bothered..

He is tuned into events at Pittodrie, though, and has a typically forthright and populist view of what should happen there. Wyness believes Aberdeen chairman Stewart Milne should dip into his personal fortune to pay off the club's GBP8.9 million debt. And he revealed that he made that view clear during Pittodrie board meetings.

"I had great respect for what David Murray did, in terms of basically underwriting an investment to clear Rangers' debt. I pushed and tried to get the same thing at Aberdeen because if we had cleared that debt it would have released the huge interest payments - that were being made each year - back into the first team squad. That alone would have made a big difference given the way finances are in Scotland just now.

"That's what I would have hoped that Stewart could have seen his way to do. He didn't wish to do it, and he had every right to take that decision. It's very easy to spend someone else's money. But that's what I would have hoped was the way forward because the club had reached a stage where it was running almost at break-even.

On to Robert Earl, according to the telegraph

"He is worth more than 200 million and is expected to help provide funds to buy new players and relocate to a new stadium."


A few questions

a. Do you think he has been asked to lend the club some cash interest free ?
b. Should he be expected to?
c. Do you think he would do it if asked.

I read that the club currently pay 1.7million a year in interest on their loans. So it would cut a huge loss off in fell swoop.
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#2 Pat

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Posted 19 Jan 2007 - 05:39

Our debt is a touch more risk worthy than an 8 mill investment.
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#3 thebluenose

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Posted 19 Jan 2007 - 18:03

it seems a good idea for all our shareholders (whether it be earl, wyness or BK preferably all of them) to pay off the debt so we save the money we pay on interest. but the problem is our debt is in the 40 million region. thats alot of asking for all our shareholders.
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#4 Romey 1878

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Posted 19 Jan 2007 - 18:30

If they paid half of the debt off that would help us massively, I wouldnt expect them to be able to pay it all off.
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