Sunday, April 23, 2006
From 2004 - Paladini on ABC, Taxes & Avoiding Administration
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PALADINI ON SAVING THE CLUB
FROM LSA - OCTOBER 2004
15th OctoberGianni Paladini Wants A Showdown - Marylebone and Paddington MercuryThere was a very interesting article by Paul Warburton in last week's Marylebone and Paddington Mercury. Gianni Paladini said that he would like a showdown with the previous Board to find out why they took out the £10m loan with ABC. The loan costs £1m a year in interest alone and when Gianni invested around £600,000 in May for 22.1% of company shares, instead of being welcomed, he was snubbed by members of the previous regime ! The former football agent believes that former Chairman, Nick Blackburn, Chief Executive, David Davies and plc Chairman, Ross Jones would have little to do with him.
He said, "I wasn't welcome the minute after I got involved with the Club. I tried but couldn't get answers about the finances of the Club, especially when I would ask David Davies.
For a long time it was like banging my head on the wall. It appears that Bill Power would get phone calls asking him what I was doing at the Club and yet I had brought a large sum of money and was keen to see what I was getting for my investment"
He alleges that Rangers were two weeks away from a second bout of administration which would carry a immediate fine of 10 points !
"We faced a bill from the Tax and the VAT man of around £2m, we hadn't got it and had no way of getting it at the time, quite frankly we were at the wall. I made a plea to my friend Antonio Caliendo in Monte Carlo to help. He had contacts going back 30 years. I told him if he couldn't help, I would lose all my money. I've never lost money in football and he must have thought it was shrewd on my behalf and we set about getting the money.
They persuaded other Monte Carlo businessmen to raise the money and they bought the company name Barnaby Holdings especially for that purpose.Gianni said, " We've paid the immediate bill but why did we have to borrow £10m ? We didn't have a £10m debt The loan was agreed at 8% and at the last minute -not the last hour -the details of the loan was changed to 10% - take it or leave it ! The previous Board claimed that the Football League forced them to do it but I've spoken to the League and they say that's not true, but I want to know the truth" Steve Russell http://www.qpr-lsa.co.uk/04sepoct.html
PALADINI ON SAVING THE CLUB
FROM LSA - OCTOBER 2004
15th OctoberGianni Paladini Wants A Showdown - Marylebone and Paddington MercuryThere was a very interesting article by Paul Warburton in last week's Marylebone and Paddington Mercury. Gianni Paladini said that he would like a showdown with the previous Board to find out why they took out the £10m loan with ABC. The loan costs £1m a year in interest alone and when Gianni invested around £600,000 in May for 22.1% of company shares, instead of being welcomed, he was snubbed by members of the previous regime ! The former football agent believes that former Chairman, Nick Blackburn, Chief Executive, David Davies and plc Chairman, Ross Jones would have little to do with him.
He said, "I wasn't welcome the minute after I got involved with the Club. I tried but couldn't get answers about the finances of the Club, especially when I would ask David Davies.
For a long time it was like banging my head on the wall. It appears that Bill Power would get phone calls asking him what I was doing at the Club and yet I had brought a large sum of money and was keen to see what I was getting for my investment"
He alleges that Rangers were two weeks away from a second bout of administration which would carry a immediate fine of 10 points !
"We faced a bill from the Tax and the VAT man of around £2m, we hadn't got it and had no way of getting it at the time, quite frankly we were at the wall. I made a plea to my friend Antonio Caliendo in Monte Carlo to help. He had contacts going back 30 years. I told him if he couldn't help, I would lose all my money. I've never lost money in football and he must have thought it was shrewd on my behalf and we set about getting the money.
They persuaded other Monte Carlo businessmen to raise the money and they bought the company name Barnaby Holdings especially for that purpose.Gianni said, " We've paid the immediate bill but why did we have to borrow £10m ? We didn't have a £10m debt The loan was agreed at 8% and at the last minute -not the last hour -the details of the loan was changed to 10% - take it or leave it ! The previous Board claimed that the Football League forced them to do it but I've spoken to the League and they say that's not true, but I want to know the truth" Steve Russell http://www.qpr-lsa.co.uk/04sepoct.html
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