Football finance expert, and co-host of the excellent Price of Football Podcast, Kieran Maguire has dedicated some time to Yeovil Town FC on Twitter this morning. He will also be talking about the situation on an episode of their podcast tomorrow.
Now, we don’t know what much of the numbers mean (yes, even City Editor Ben), however Kieran is the right man to try and understand and explain the situation.
Here are his tweet for those lucky enough to not spend time on social media…
Strange goings on at CV Leisure Ltd, company owned by Yeovil owner Scott Priestnall and operating out of Huish Park. The company originally reported profits of £4.2 million but after discovering errors this turned into a loss of £287k. #Glovers pic.twitter.com/6KBBpcU8YJ
— Price Of Football (@KieranMaguire) December 7, 2021
CV Leisure Ltd also has mortgage charge over stadium from MSP Capital Ltd, company described as ‘Venture Debt’ which gives specialised lending. This seems more mysterious than ‘Mysterious Girl’ by Peter Andre & perhaps needs Scooby Doo & friends to solve #Zoinks pic.twitter.com/MsgPgPbzud
— Price Of Football (@KieranMaguire) December 8, 2021
Clear as mud, this.
Update:
MSP Capital, the company that has a mortgage over Yeovil Town’s holding company has itself borrowed today from Gem Developments Ltd, which in last a/c’s lent money at 8.5% so would be interesting to know what interest rate Yeovil are paying. pic.twitter.com/mT8c21LF8I
— Price Of Football (@KieranMaguire) December 8, 2021
A big ? to @jancyclops for some top sleuthing here. More mysterious activity relating to Yeovil owner Scott Priestnall who has been involved with all these companies which have been struck off/dissolved in recent years. I wonder why he’s been so unfortunate? #Glovers pic.twitter.com/tcMr65doub
— Price Of Football (@KieranMaguire) December 9, 2021