15 Feb 2017 12:34:07
Now then people get you heads around this little stat. Fawaz has just written off a £17 million debt owed to him personally - if all season tickets were £500 (many are cheaper) it would take 34,000 season ticket sales for the supporters to raise what our owner has just gifted to the club.

In accountants speak the financial statement also makes it clear that the club would cease to operate without the current levels of funds from our owner.

This has an alarmingly similar look to the final months of the Nigel Doughty ownership.

Those who abuse the current owner and his family might want to think on before doing so again.

1.) 15 Feb 2017
15 Feb 2017 13:00:14
He hasn't gifted anything? He's stolen the Oliver Burke money!

There is no writing off? He's borrowed £50 million quid against the club from an outside source, paid himself off, and saddled the club with a £83 million quid bank loan which now needs repaying with crippling interest rates that will finish this club.

Who would do such a low down trick?

Thanks Fawass I love you, you're so big and amazing. xx

A million pound mortgage at current rates costs £4,185 a month for repayment and interest over 25 years. Times that by 83 and you get a staggering £347,355 pounds per month repayment.

Now the interest rates is probably a fair bit lower on such a high amount of commercial borrowing, but he has put us on a par with Blackburn and limited his potential loss to £55 million quid.

If you look at it one way you could say he has sold the club to the bank rather than JJ Moores.
Instead of being £120 million pounds in he's £55 million quid in. About the amount he stood to lose by selling to Moores.
So he gets to keep control (he likes that) and gets to limit his exposure whilst ruining the future of the club.

We stand in the last chance saloon and if we don't get promoted next season we WILL fold!

Why because the club cannot sustain £4.168 million pounds worth of repayments PA on loans with an £18 million pound turnover.

There is only one reason why BB is being played above Britt with GB purring about him at every opportunity and that's because they have to get mega money for him at the end of the season.


2.) 15 Feb 2017
15 Feb 2017 13:34:56
no22, you are stark raving bonkers. You have accused Fawaz of stealing the Burke money. I think you may get a law suit in the post very soon for saying that. The Burke money will be shown in the next set of accounts. Fawaz has not borrowed money from any bank. If he had it would be clear in the accounts, it is not.
You are crackers.

3.) 15 Feb 2017
15 Feb 2017 13:52:59
The Club is insolvent. Averaging losses of 20m per annum without continued support of Fawaz statements would say it is not a going concern.

With a wage bill in excess of income the only way out of this is promotion to the Premier League.

4.) 15 Feb 2017
15 Feb 2017 13:58:53
He has not stolen burkes money they are last seasons accounts, not this season.

5.) 15 Feb 2017
15 Feb 2017 15:24:55
No22 you are living in fantasyland.

6.) 15 Feb 2017
15 Feb 2017 16:53:50
well no22 I know what your saying and cannot agree more. from what you are saying I have a good idea what you are and who you are. I have every respect in your analysis of fawaz that is why any body with half a brain cell in the past has flushed him out and will do if he employs employs any body with fiance know how.

7.) 15 Feb 2017
15 Feb 2017 18:21:44
Worryingly for Forest fans, the accounts state: "After having taken into account a range of possible outcomes arising from on-pitch performance, the forecasts and predictions adopted as a basis for going concern show a further funding requirement in excess of the current level of funding facilities immediately available to the Director.

"Therefore the Director acknowledges a material uncertainty in the event the company's ultimate beneficial owner becomes unwilling at any time to continue to provide funding support to the business to the general level that it previously provided.

"It should be noted that there are management initiatives that can be pursued to mitigate any potential funding shortfall including the sale of players and other business assets. "

In other words.

Fawaz has borrowed to the limit. No one on earth will put another penny into the club.
We have a want away owner so the only option is to sell the club, which is now a financial basket case, or sell BB just to keep the club running for 1 more season.

" the forecasts and predictions adopted as a basis for going concern show a further funding requirement in excess of the current level of funding facilities immediately available to the Director. "

There are no more loans to borrow.

So what's going to happen next season? Ooooh you got to love Fawaz.

8.) 15 Feb 2017
15 Feb 2017 19:30:32
So if Fawaz went we would be alright? Would you mind explaining how that works? Because when Nigel Doughty did the same we were in a mess.

9.) 15 Feb 2017
15 Feb 2017 20:32:54
No22. At last someone on here who know what he is talking about. I have given up trying to explain just how disgraceful the owner has been and still is.

I am afraid many fans do not understand the accounts ( nor should they be expected to) and the the likes of Wisheydove, Etc just focus on the last couple of results.

The future is scary if he remains at the helm, and the accounts just prove that his sale price demands are unrealistic as any potential buyer is buying a huge debt.

10.) 15 Feb 2017
15 Feb 2017 21:33:07
I think many of us understand the gravitas of our situation. NNR, from my own point of view starving the club of income by staying away and protesting is not going to help. expressing that view doesn't mean I'm not petrified by the future because I am. If I thought protesting would make him sell I'd do it. Is there no way we can have encourage the owner to meet with a fans forum and persuade him to go?

11.) 15 Feb 2017
15 Feb 2017 22:31:37
No22 did you read the bit on page 16 where it says "the director has a resonable expectation that the company will have adequate resources to continue in operation existence for the foreseeable future" can't understand why you would miss that piece out.

12.) 15 Feb 2017
15 Feb 2017 22:49:21
Writing off loans is irrelevant except for ffp purposes. If Forest remain in championship for foreseeable future then no one is going to give Fawaz anything close to his remaining loans anyway. If they get into the Premier League the value could be well in excess of any loans and he would get them back with a premium. Therefore the writing off is just an exercise to keep the club within ffp. Nothing more nothing less no grand gesture just common sense at this time.

13.) 15 Feb 2017
15 Feb 2017 22:59:55

My thoughts are always on the long term. Recent results have nothing to do with my opinion.

Levels of debt are only a problem if you cannot service the debt. Man Utd carry a massive debt, but are currently the richest club in the World.

We can service the debt by selling players like Brererton and Burke. We could also service it by relying on Fawaz. Without doubt boycotts make servicing no the debt more difficult, which is why I am against them.

14.) 16 Feb 2017
16 Feb 2017 16:48:01
Two things.

1. FAH has been in charge for almost five years and is clearly therefore fully responsible for failing to establish a sustainable business.

2. I'd rather the club have to rebuild from next to nothing now than see this jackass run us any further into the ground.

15.) 17 Feb 2017
17 Feb 2017 00:51:29
To be Honest I am a Tad confused over the numbers running cost Is at 26 million that is 542,000 p/w? That is pretty much double what I was expecting?

I thought at most the players where on is 350,000 p/w if there on double that then we really need to get quite a few mutual terminations on the cards.

I assume the players is the main expenditure because there hardly any coaches at forest anymore least not listed on the staff side on website and there only one scout I know of there.

Also I don't really see any real investment because he just borrowed the money and put it against the club and the amount he borrowed far out ways the amount he invested?

Or am I just seeing the numbers wrong?

16.) 17 Feb 2017
17 Feb 2017 10:13:05
Oh - and that £17M? He personally blew every single penny of it, and plenty more besides that the club still carries the can for.

17.) 17 Feb 2017
17 Feb 2017 20:12:35
Argue it all you like.

What is happening is the owner is shifting the losses out of his responsibility and onto the club.

It is no longer some big dream for Fawass to own this club. It is a nightmare that eats 2 million quid a month.

Never mind this and that. Tell me why the debt jumped from one single loan of £30 million to a total debt of 83 million, to all creditors, in one seasons accounts.
No mention of who the creditors are, but it certainly proved that it isn't Fawass.

What does this prove? It proves the "creditors" are mostly banks! Apart from some small scale suppliers, caterers, kit, merch, cleaners, agents, police, HMRC. If you need the exact figure go look at last years accounts. the numbers won't be radically different for those types of suppliers.

The accounts state we are at the end of our credit limit with regards to financial institutions and the only thing keeping the club solvent is the chairman who wants away and has busily been off loading his responsibility.

Let me state that clearly. There are no more lending resources available.
We are mortgagded to the hilt. On stops, At the end of the slate.
Forest are at the limit of their credit!

To know this someone has to of maxed out. The value of the club is dwarfed by its debt. it is insolvent right now.

You don't need to be a genius to work out that the usual creditors listed above would be a few % of that figure. HMRC being the biggest.
So take a few million quid off the 82 million and that's what Fawass has been busily loaning in the last year to "run" the club.

Minus the £30 million loan he previously took out to spend on the running of the club. whilst telling you on TV he was paying millions a month an you should all suck his root and be grateful.

We don't spend £50 million a season! So where did the rest of the loans made against the club this financial year go? Why did Fawaz's exposure go down? Understand yet?

His loans to the club are now put at £55 mill or whatever the figure was. Not the £120 million he keeps bawling on at the ginger princess.

So where did it all go?

Obvious isn't it? Fawaz's debt goes down but the clubs goes up?

Do you really think he'll be bothered bank rolling the club when it really starts costing him money. Not just loaning it in the delusion that he'll get it back later?
Actually spending it week in week out!

He is limiting his liability to future losses by pushing the losses off of his book and into the limited company called Nottm Forest.

When it all goes pop, and starts costing big time, we'll be in admin because no one will pay more than token £1 amount to take on the £82 million quid debt. Or the 2 million quid a month bill for running the club.

Let's hope JJM's really got the bug when he sat eating fish and chips on trent bridge! He was prob very shrude offering a low amount for a club he knew would be worthless in a years time.

Please also remember that 17.9 million quid also got wiped off the debt owed to Fawass!
Wow that figure looks suspiciously like a large cash sum from player sales.
Next season the claimed gift to the club will be revealed as a payment to reduce debts to the owner, not a gift from a wealthy benefactor.

I suspect he'll be long gone by then.

I would say Fawaz out but I think that's a formality judging by his actions.