Interesting to see Rafa is now on a contract with "Permasteelisa Group – the leading international façade specialist"
If ever there was an international façade specialist...
Charlatans
The final position on the brothers' successful investment in HRBFC was to help us to a further loss of £574K in the year to 31 May 2025. Good news was that the 2024 loss was smaller than previously reported and was a mere £2.089M. The club owes £900K to it parent company.
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EastTerracer
- Posts: 554
- Joined: Tue Feb 07, 2023 8:40 am
Any indication of how much they pocketed ?Tony wrote: Tue Feb 24, 2026 4:54 pm The final position on the brothers' successful investment in HRBFC was to help us to a further loss of £574K in the year to 31 May 2025. Good news was that the 2024 loss was smaller than previously reported and was a mere £2.089M. The club owes £900K to it parent company.
Unfortunately, the price they sold their Ramayana shares will not be publicly disclosed and we also will not be able to see in public documents what level of directors'/consultancy fees were paid to them from HRBFC Limited or Ramayana.EastTerracer wrote: Tue Feb 24, 2026 5:04 pmAny indication of how much they pocketed ?Tony wrote: Tue Feb 24, 2026 4:54 pm The final position on the brothers' successful investment in HRBFC was to help us to a further loss of £574K in the year to 31 May 2025. Good news was that the 2024 loss was smaller than previously reported and was a mere £2.089M. The club owes £900K to it parent company.
I would have guessed that much of the crazy wasteful expenditure was finished before the start of the year ended 31 May 2025, but possibly there was some overhang that spilt into that year and maybe the brothers were taking some fees out to contribute to the £574K loss. Hopefully the year to 31 May 2026 will show a much more sustainable picture.
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Lord Elpus
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Tony, what might the implications of that be? Forgive my ignorance but does that mean we are technically £900K in debt? If so, how likely is that debt to be called in?Tony wrote: Tue Feb 24, 2026 4:54 pm The final position on the brothers' successful investment in HRBFC was to help us to a further loss of £574K in the year to 31 May 2025. Good news was that the 2024 loss was smaller than previously reported and was a mere £2.089M. The club owes £900K to it parent company.
It's not a massive problem as it will be owed to our new main shareholders via their holding company.They control the club so you have to look at their investment in the round. Theoretically they could call the loan in at any time and force the club into insolvency but I believe League rules will require the holding company to give some assurance that they will not do that for at least an agreed period.There would be little point in calling the loan as the club could never pay it back. You may remember the Torquay situation a couple of years ago where the owner was owed £5M but ended up writing off his loan to allow the sale of the club to go through. It's a pretty standard structure. It all depends on who holds the loan and their intentions.
... and whether they are charlatans!Tony wrote: Tue Feb 24, 2026 6:02 pm It's not a massive problem as it will be owed to our new main shareholders via their holding company.They control the club so you have to look at their investment in the round. Theoretically they could call the loan in at any time and force the club into insolvency but I believe League rules will require the holding company to give some assurance that they will not do that for at least an agreed period.There would be little point in calling the loan as the club could never pay it back. You may remember the Torquay situation a couple of years ago where the owner was owed £5M but ended up writing off his loan to allow the sale of the club to go through. It's a pretty standard structure. It all depends on who holds the loan and their intentions.
(which I don't think our current owners are I should add)
The HRBFC parent company, Painswick Club Inv Limited (formely Ramayana), accounts are up now at companies house. I dont think reveal anything new or unexpected - other than that company made a small £85k profit in the year to 31 May 25 so, for the owners, that slightly offsets the HRBFC losses for that year.