Comments on: Last roll of the dice as Donington offers the City a high risk bond http://www.jamesallenonf1.com/2009/10/last-roll-of-the-dice-as-donington-offers-the-city-a-high-risk-bond/ Formula 1 / F1 Sun, 12 Feb 2012 21:27:49 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: F1: British Grand Prix developments liveblog October 12-19 | Brits on Polehttp://www.jamesallenonf1.com/2009/10/last-roll-of-the-dice-as-donington-offers-the-city-a-high-risk-bond/comment-page-1/#comment-26971 F1: British Grand Prix developments liveblog October 12-19 | Brits on Pole Sat, 24 Oct 2009 13:17:35 +0000 http://www.jamesallenonf1.com/?p=3963#comment-26971 [...] about what weight should be given to the various figures involved. This is recommended reading: Last roll of the dice as Donington offers the City a high risk bond. The key sentence is this: “One trader said, ‘It’s priced at the higher end of [...] [...] about what weight should be given to the various figures involved. This is recommended reading: Last roll of the dice as Donington offers the City a high risk bond. The key sentence is this: “One trader said, ‘It’s priced at the higher end of [...]

]]> By: Improved Silverstone for 2010 | My Digital Lifehttp://www.jamesallenonf1.com/2009/10/last-roll-of-the-dice-as-donington-offers-the-city-a-high-risk-bond/comment-page-1/#comment-26733 Improved Silverstone for 2010 | My Digital Life Thu, 22 Oct 2009 21:21:23 +0000 http://www.jamesallenonf1.com/?p=3963#comment-26733 [...] all of the bad news coming out of Donington and it’s plans to host the 2010 British Grand Prix, it’s nice to see that Silverstone has some [...] [...] all of the bad news coming out of Donington and it’s plans to host the 2010 British Grand Prix, it’s nice to see that Silverstone has some [...]

]]> By: James Allenhttp://www.jamesallenonf1.com/2009/10/last-roll-of-the-dice-as-donington-offers-the-city-a-high-risk-bond/comment-page-1/#comment-25728 James Allen Fri, 16 Oct 2009 22:30:32 +0000 http://www.jamesallenonf1.com/?p=3963#comment-25728 Looks like it.. Looks like it..

]]> By: James Allenhttp://www.jamesallenonf1.com/2009/10/last-roll-of-the-dice-as-donington-offers-the-city-a-high-risk-bond/comment-page-1/#comment-25723 James Allen Fri, 16 Oct 2009 22:16:42 +0000 http://www.jamesallenonf1.com/?p=3963#comment-25723 Sorry to hear that, emails are getting through to me Sorry to hear that, emails are getting through to me

]]> By: Aaron Jameshttp://www.jamesallenonf1.com/2009/10/last-roll-of-the-dice-as-donington-offers-the-city-a-high-risk-bond/comment-page-1/#comment-25711 Aaron James Fri, 16 Oct 2009 21:28:48 +0000 http://www.jamesallenonf1.com/?p=3963#comment-25711 Ive found the same problem James- was going to email you about some ideas ive had (i remember Luca saying a while back about alternative ideas for the site, new features etc) Ive found the same problem James- was going to email you about some ideas ive had (i remember Luca saying a while back about alternative ideas for the site, new features etc)

]]> By: Brits on Polehttp://www.jamesallenonf1.com/2009/10/last-roll-of-the-dice-as-donington-offers-the-city-a-high-risk-bond/comment-page-1/#comment-25693 Brits on Pole Fri, 16 Oct 2009 20:06:07 +0000 http://www.jamesallenonf1.com/?p=3963#comment-25693 Thanks James! Presumably that means the FT was wrong to specify the racing team, which it does do quite specifically... Thanks James! Presumably that means the FT was wrong to specify the racing team, which it does do quite specifically…

]]> By: James Allenhttp://www.jamesallenonf1.com/2009/10/last-roll-of-the-dice-as-donington-offers-the-city-a-high-risk-bond/comment-page-1/#comment-25681 James Allen Fri, 16 Oct 2009 19:21:36 +0000 http://www.jamesallenonf1.com/?p=3963#comment-25681 I checked with McLaren and they are not involved. It is another entity called McLaren I checked with McLaren and they are not involved. It is another entity called McLaren

]]> By: Brits on Polehttp://www.jamesallenonf1.com/2009/10/last-roll-of-the-dice-as-donington-offers-the-city-a-high-risk-bond/comment-page-1/#comment-25669 Brits on Pole Fri, 16 Oct 2009 18:21:38 +0000 http://www.jamesallenonf1.com/?p=3963#comment-25669 Which still doesn't offer any insight into why McLaren should be one of the entities getting preferred stock, alongside Kevin Wheatcroft and the debenture operator SSG.It would appear to suggest the company has some kind of economic interest in the project and it would be informative to know what. Which still doesn’t offer any insight into why McLaren should be one of the entities getting preferred stock, alongside Kevin Wheatcroft and the debenture operator SSG.

It would appear to suggest the company has some kind of economic interest in the project and it would be informative to know what.

]]> By: rpacohttp://www.jamesallenonf1.com/2009/10/last-roll-of-the-dice-as-donington-offers-the-city-a-high-risk-bond/comment-page-1/#comment-25609 rpaco Fri, 16 Oct 2009 12:47:48 +0000 http://www.jamesallenonf1.com/?p=3963#comment-25609 Two points here:The convertable warrants will only serve to lay a base of ordinary shares, (if taken up) the holders of which will undoubtedly be tapped for a rights issue.They may "Issue" £25M of shares, that does not mean that they are "selling" £25M worth and getting £25M for them. They will actually be worth a few pence in view og the massive debt load.Even Gillets projected EBITDA figures are not sufficient to pay both the interest on the bonds and the F1 fee. Debenture holders will need dividends too.What will be the NAV?(Net Asset Value) per share Not a lot! I would say a huge minus figure. Mind you Bernie's companies operate with gigantic debts and make him a fortune, but Gillett aint Bernie Two points here:

The convertable warrants will only serve to lay a base of ordinary shares, (if taken up) the holders of which will undoubtedly be tapped for a rights issue.

They may “Issue” £25M of shares, that does not mean that they are “selling” £25M worth and getting £25M for them. They will actually be worth a few pence in view og the massive debt load.

Even Gillets projected EBITDA figures are not sufficient to pay both the interest on the bonds and the F1 fee. Debenture holders will need dividends too.

What will be the NAV?(Net Asset Value) per share Not a lot! I would say a huge minus figure. Mind you Bernie’s companies operate with gigantic debts and make him a fortune, but Gillett aint Bernie

]]> By: rpacohttp://www.jamesallenonf1.com/2009/10/last-roll-of-the-dice-as-donington-offers-the-city-a-high-risk-bond/comment-page-1/#comment-25566 rpaco Fri, 16 Oct 2009 10:11:19 +0000 http://www.jamesallenonf1.com/?p=3963#comment-25566 Just noticed that Silverstone made £3.1M profit last year and that was with a total capacity sellout crowd. That was on a revenue (turnover) of less than the total that Mr Gillet will have to pay out each year in interest plus Bernie fees. Dead duck! Just noticed that Silverstone made £3.1M profit last year and that was with a total capacity sellout crowd. That was on a revenue (turnover) of less than the total that Mr Gillet will have to pay out each year in interest plus Bernie fees.
Dead duck!

]]>