Football Keith Morgan Commentary on Latest Club Accounts

[Nugent]

As of 31 January 2025, approximately £663mn had been paid to over 4,300 claimants across four schemes:

• Horizon shortfall scheme (HSS): £315mn total value of all payments including interim payments
• Group litigation order scheme (GLOS): £128mn total value of all payments including interim payments
• Overturned convictions (OC) scheme: £65mn total value of all payments including further interim payments
• Horizon convictions redress scheme (HCRS): £156mn total value of all payments including interim payments[40]

"In 2017, 555 subpostmasters led by Bates brought a group action against the Post Office in the High Court. In 2019, the judge ruled that the subpostmasters' contracts were unfair, and that Horizon "contained bugs, errors and defects". The case was settled for £58 million, leaving the claimants with £12 million after legal costs"

 

[Caroline St]

An ex postmaster mate of mine got 375k and promptly went and bought an house

 

[Melvin Udal]

An ex postmaster mate of mine got 375k and promptly went and bought an house

373k. Not Brynmawr then

 

[Dr. Lecter]

For fucks sake Tan, just pay those postmasters what they deserve you bastard.

 

[Aswad]

Does this news warrant another match

A football club in match shocker.

 

[NI Bluebird]

Sone people are just thick , ill leave it at that

 

[NI Bluebird]

OK. I am confused.

Some people here told me we were debt free. But, we're not. We owe £137.7m that is payable inside 1 year. We will also owe other money that is due over longer periods.

Were the likes of @NI Bluebird wrong?

Then, there were people saying everything is ok because we only owe one person money. But, it looks like we owe Dalman money. And he's charging interest. £2.1m worth of interest. Never has Dalman been so interesting.

The liability is £30.5m. But that is offset by the stadium value which we can't even sell, really, because who wants to see our home matches in Swansea, or a landlord at CCS charging us a fortune?

Better stay up this season.

Suggest you go on another March with the 15000 who joined the last one

Hugely successful , ummm why didn't they meet the board when invited

As a marcher I'm sure you know the answer

 

[Melvin Udal]

Sone people are just thick , ill leave it at that

Sone indeed

 

[Aswad]

Suggest you go on another March with the 15000 who joined the last one

Hugely successful , ummm why didn't they meet the board when invited

As a marcher I'm sure you know the answer

How's that "debt-free" club looking?

 

[Aswad]

Sone people are just thick , ill leave it at that

Don't be too harsh on yourself. At least you support a debt-free club.

 

[Aswad]

373k. Not Brynmawr then

Could buy Brynmawr for that.

 

[Melvin Udal]

Could buy Brynmawr for that.

 

[Dr. Lecter]

Sone people are just thick , ill leave it at that

Is it Melvin?

 

[Melvin Udal]

Is it Melvin?

Yes. No.

Maybe

 

[NI Bluebird]

Is it Melvin?

Try again lol

 

[Norris Cole]

Sone people are just thick , ill leave it at that

Tan, Dalman & Choo.




Annis.

 

[Dr. Lecter]

Try again lol

Nuge?

 

[kernel]

Nuge?

Try again lol

 

[Mr Shitpeas]

This.

It’s called “litigation funding”.

Bit like “no win no fee”.

I agree to fund your legal costs while you sue someone. I then carry the risk. In return, I get a percentage of the settlement.

What I can’t quite understand about this, is if Tan is confident of winning the case, why is he risking giving away a substantial percentage of any payout to a third party?

 

[Aswad]

What I can’t quite understand about this, is if Tan is confident of winning the case, why is he risking giving away a substantial percentage of any payout to a third party?

OK, I am anti-Tan as you all know BUT

It actually makes sense.

Instead of borrowing money that is charged interest, he has sold a part of a potential asset that may not even be an asset.