PNE's "sugar daddy" pays their tax bill | PASOTI
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PNE's "sugar daddy" pays their tax bill

cheshiregreen

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Jade Berrow 23/24
Feb 17, 2004
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Loans


Leisure tycoon Trevor Hemmings has handed Preston North End a further £450,000 to pay its tax bills.
The club announced on Friday that owner of the Blackpool Tower had put the cash in through his Guild Ventures investment vehicle.

It comes just a week after he pumped £570,000 into the club to pay for player's wages.

In a statement, the club said: "The loan will be used by the company to make payments to HM Revenue and Customs in respect of PAYE tax deductions and National Insurance."

Mr Hemmings, the club's largest major shareholder with a 28% stake in the club, has now loaned North End £12.63m include accrued interest.
:shock:

Often stated by posters on here as the club we are most similiar to in the CCC, where would they be without this massive loan from Mr Hemmings?
 
Mar 3, 2004
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As has been discussed before this is not a sustainable model and like Watford they are totally dependent on a benefactor bailing them out. Eventually people will have had enough of throwing good money after bad as Simon Jordan did at Palace. One of the reasons we have struggled at this level is that we haven't got anyone prepared to bail out massive over-spending so we haven't been able to keep up with the Jones's that have.
 

The Doctor

🏆 Callum Wright 23/24
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Sep 15, 2003
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andapoet.blog
spoons":3yq33bhb said:
As has been discussed before this is not a sustainable model and like Watford they are totally dependent on a benefactor bailing them out. Eventually people will have had enough of throwing good money after bad as Simon Jordan did at Palace. One of the reasons we have struggled at this level is that we haven't got anyone prepared to bail out massive over-spending so we haven't been able to keep up with the Jones's that have.

Are we not also totally dependent on a number of benefactors bailing us out?
 
Mar 3, 2004
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Cornwall
The Doctor":36gtr8en said:
spoons":36gtr8en said:
As has been discussed before this is not a sustainable model and like Watford they are totally dependent on a benefactor bailing them out. Eventually people will have had enough of throwing good money after bad as Simon Jordan did at Palace. One of the reasons we have struggled at this level is that we haven't got anyone prepared to bail out massive over-spending so we haven't been able to keep up with the Jones's that have.

Are we not also totally dependent on a number of benefactors bailing us out?

No we sell our ground back to ourselves to do it.
 
Aug 22, 2008
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Chicago
People always complain that the city of Plymouth does not deserve a PL football team. It is said that people in Plymouth couldn't care less about Argyle. While we all want the premiership, we all still see it as a magical land that is beyond what we are capable of acheiving. Yes we want it as fans, but we do not expect it like nearly every other club in this division does every season. I think the pressure from fans is enormous at any club, but at Argyle we seem happy to not be the best, just as long as we are not the worst.

Ironically, this lack of ambition could be what saves us. It has allowed us to survive on a relatively stable financial platform and while far from rich, we are not as close to the edge of the cliff as many others in the division. Chairmen go for broke every year knowing that the fans expect success, we have not been pressured into doing that and as a result may still be here in 10 years time.