were converted into capital then nothing would have been paid and we could be debt free!!!!

That is one reason I said debt to the owner is very different to bank debt.

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I agree with that

Does anyone know, factually our interest rate on debt and how that compares with other clubs?

I'm reading Leeds United Football Club Ltd Accounts Year En... on Scribd. Check it out: https://www.scribd.com/book/261859751

It seems of the approx £20m owed to GFH that half is at 5% and half at 2%.

Cellino and Eleanora Sports have loaned at zero interest rates if the accounts are correct.

Stoopo, am I reading that wrong? Because to me that seems well within the bounds of reasonable. More so
the part where the Italian arm's rate is zero.

Put me right here fella if I'm crazy.

Stoopo and Batty, those accounts are the prior year's version.

The article is about the accounts as of and for the year ended June 30, 2015.

The club paid over £2m in interest

Yes but he didn't own it all that year and we do not know who it was paid to.

As I said this year much more interesting.

comment by JonnyLosAngeles (U9756)
posted 45 minutes ago
Stoopo and Batty, those accounts are the prior year's version.

The article is about the accounts as of and for the year ended June 30, 2015.
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I know - but we are talking about interest payments and those figures are the latest ones we have at the moment.

To me the biggest thing holding us back is the fact we will owe a few £million if we get promoted before 2017/18 season. Not sure anyone is willing to bite the bullet, spend big AND have that to pay as well as player bonuses.

Hope I'm wrong though

comment by LIW - Cellino & sloth out (U8453)
posted 45 minutes ago
The club paid over £2m in interest
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Yes but it doesn't show who to. If we work on GFH getting about £700k then there is £1.3m in interest payments that appear to be going where?

Read footnote 6 to the financial statements. Spells out to whom most of the interest was paid, I believe.

Can't see that JLA

You can't? I glanced it and noticed a paragraph about certain loans assumed by GFH and the amount of interest paid (about 1.5m?) on those loans during the year ended June 30, 2014.

I think it's near the end in 'related party transactions' or words to that effect.

Ok, here goes:

Per Profit and Loss Account for the year ended June 30, 2014:

- Interest Payable and Similar Charges 2,066,860

Per Notes to Financial Statements #20 (my mistake, I mentioned #6 above) (page 20, para 8):

- On February 6, 2014 the balances due to Brendale Holdings Limited and Berrydale Seventh Sport Holdings Limited were assigned to GFH Capital Limited. During the year interest was charged on those loans totaling 1,506,201. Also the balance due to Envest Limited of 1,708,231 was assigned to GFH Capital Limited. During the year interest of 25,245 was charged on this loan.

AND

- At 30 June 2014 Leeds United Football Club Limited owed 20,914,369 to GFH Capital Limited. At the year end interest of 319,623 had accrued on this balance.

By my calculation, that accounts for 1,851,069 of the total interest expense for the year ended June 30, 2014.

I hope that helps.

Got it

My bad