Update on Fosun's financial position

[Steampunk Rules OK]

Undoubtedly. But we could also say take a look at how much Fosun have put in. The foundations are there, the question is what do we do with them.

The foundations may be there but are crumbling away - what we do is get rid of them and start again with new ones.

 

[JayStringer]

Foundations are fine, it's the rest of the ground that is crumbling away.

Good line, no notes.

 

[JayStringer]

The foundations may be there but are crumbling away - what we do is get rid of them and start again with new ones.

Well, I agree in the sense that's what this club keeps doing. Babies and bathwater springs to mind. It's time to build on foundations, not keep ripping everything out and starting again. And I'm not convinced Fosun are the people to do that. I have very little trust in them right now. But that's my larger point - we need to have a sustainable plan, and build on it, and stick to it. And we as fans play a part in that.

 

[YouGottaRaulWithIt]

Good line, no notes.

I think we both spotted there was a joke in there somewhere. Had to be done.

 

[Kashmire Hawker]

Bump - revenue for Fosun up 10.9% to £10.48 Billion in the first half of 2023.

And Operating Profit risen by 5.5% to £360 Million.

 

[Bawtry Wolf]

Bump - revenue for Fosun up 10.9% to £10.48 Billion in the first half of 2023.

And Operating Profit risen by 5.5% to £360 Million.

Profitability is poor but at least they’re profitable.

 

[Wolf in Kenilworth]

But but but they’re going bust, asset stripping etc etc

 

[Surrey Wolf]

They've managed to get rid of 5b worth of debt, bringing debt lvl down to about 22b

 

[YouGottaRaulWithIt]

They've managed to get rid of 5b worth of debt, bringing debt lvl down to about 22b

It's nice to think we helped.

 

[Brixton Wanderer]

https://x.com/business/status/1716534603538682259?s=46

 

[Mile End Wanderer]

https://x.com/business/status/1716534603538682259?s=46

Los Angeles FC huh

 

[hollo]

Hopefully fosun can use the 35 million sale proceeds on ourselves. Grasshoppers were a bad investment. Ungrateful fans and no fanbase.

 

[glorybox]

Hopefully fosun can use the 35 million sale proceeds on ourselves. Grasshoppers were a bad investment. Ungrateful fans and no fanbase.

Didn't do Toti any harm.

 

[Mile End Wanderer]

Didn't do Toti any harm.

The one good thing that came of it

Jumilla was another failed venture.

Unless they wanted to spend and build a team up like Wolves they was wasting their time.

Could buy any second league club in Spain or Germany and try to do the same. The whole Swiss thing comes across as vanity project

Look at the 900m or more they poured into Thomas Cook that went down the drain

Thomas Cook agrees terms of £900m rescue deal with Fosun | Thomas Cook | The Guardian

Travel firm warns that Chinese investor could pull shares from London stock market

amp.theguardian.com

 

[surreywolf]

https://x.com/business/status/1716534603538682259?s=46

so fosun are selling grasshoppers to Los Angeles FC at same time as wolves have been pushing the LA Wolves 1967 link.... wonder if they're sniffing round us too?

apparently the actor Will Ferrell is an owner of LA FC Ownership | LAFC

earlier in the year he went to Wrexham and Man City matches, and (from memory) was talking about Birmingham before their American takeover Will Ferrell Takes Over As Man City Manager ... Sort Of
Wonder if this trip was a factfinding mission (or connected to one) around UK soccer and possible investment

they also play in black and gold.

 

[Wolf316]

so fosun are selling grasshoppers to Los Angeles FC at same time as wolves have been pushing the LA Wolves 1967 link.... wonder if they're sniffing round us too?

apparently the actor Will Ferrell is an owner of LA FC Ownership | LAFC

earlier in the year he went to Wrexham and Man City matches, and (from memory) was talking about Birmingham before their American takeover Will Ferrell Takes Over As Man City Manager ... Sort Of
Wonder if this trip was a factfinding mission (or connected to one) around UK soccer and possible investment

they also play in black and gold.

Very interesting.

 

[Mile End Wanderer]

so fosun are selling grasshoppers to Los Angeles FC at same time as wolves have been pushing the LA Wolves 1967 link.... wonder if they're sniffing round us too?

apparently the actor Will Ferrell is an owner of LA FC Ownership | LAFC

earlier in the year he went to Wrexham and Man City matches, and (from memory) was talking about Birmingham before their American takeover Will Ferrell Takes Over As Man City Manager ... Sort Of
Wonder if this trip was a factfinding mission (or connected to one) around UK soccer and possible investment

they also play in black and gold.

LA Takeover would be interesting

 

[BlahBlah]

Look at the 900m or more they poured into Thomas Cook that went down the drain

Did they not pull out of that when another 200 million of debt was uncovered, then just bought the name only from the liquidators for a song, re-opened in China, expanded it up, and now they're trying to sell it again? I think it cost them 11 million.
They were lucky they didn't buy it just before Covid.....

 

[Mile End Wanderer]

Did they not pull out of that when another 200 million of debt was uncovered, then just bought the name only from the liquidators for a song, re-opened in China, expanded it up, and now they're trying to sell it again? I think it cost them 11 million.
They were lucky they didn't buy it just before Covid.....

Something like that

 

[Mighty Thor]

Did they not pull out of that when another 200 million of debt was uncovered, then just bought the name only from the liquidators for a song, re-opened in China, expanded it up, and now they're trying to sell it again? I think it cost them 11 million.
They were lucky they didn't buy it just before Covid.....

They didn’t pull they were the largest shareholder when it went bust and were handed their arses. They bought the brand name in the administration process which is worth what? Not much.

 

[Sammy Chungs Tracksuit]

LA Takeover would be interesting

I've heard that LA is like Heath Town-on-Sea these days.

 

[SA Wolf]

so fosun are selling grasshoppers to Los Angeles FC at same time as wolves have been pushing the LA Wolves 1967 link.... wonder if they're sniffing round us too?

apparently the actor Will Ferrell is an owner of LA FC Ownership | LAFC

earlier in the year he went to Wrexham and Man City matches, and (from memory) was talking about Birmingham before their American takeover Will Ferrell Takes Over As Man City Manager ... Sort Of
Wonder if this trip was a factfinding mission (or connected to one) around UK soccer and possible investment

they also play in black and gold.

That'll be it, then.
So many "coincidences" that they cannot just be coincidences. Also, Wolves FC has the letters LA FC in its name (except for the A), Will Ferrell sounds like Wolves if you say his name quickly enough and Fosun has confirmed that they don't plan to sell Wolves (and we know they don't tell the truth).
Also Led Zeppelin played the LA Forum in 1977 which coincidentally was only 3 years after Wolves won the League Cup and 3 years before we won it again. Spooky!
It's on, I tells ya!

 

[Achilles Last Stand]

Willferrelhampton Wanderers; no one will recognise the change anyway, especially if you say it loud when being slightly drunk.
Cheerleaders with black and gold pompoms standing down the aisles at the South Bank, shouting "-LETS GO WANDERERS, LETS GO!"

Were onto something here, aren't we?!