Terry's neverending money issues

299 replies · 10,618 views

over 15 years ago · edited over 13 years ago

Why is every1 ripping on the dom post its a good scandelous story which will sell papers which is their sole goal. Terry should just pay his sh*t and NZF should inject money into the nix.

Sorry, I apologise Dominon Post.

Great work, keep it up. Quality newspaper you are, sorry I ever called you a rag.

"Phoenix till they lose"

Posting 97% bollox, 8% lies and 3.658% genuine opinion.

Genuine opinion: FTFFA

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over 15 years ago · edited over 13 years ago

Junior82 wrote:

12ubb3rduck3y wrote:

Why is every1 ripping on the dom post its a good scandelous story which will sell papers which is their sole goal. Terry should just pay his sh*t and NZF should inject money into the nix.

Sorry, I apologise Dominon Post.

Great work, keep it up. Quality newspaper you are, sorry I ever called you a rag.

Well your only ripping on it because it's telling you somthing you don't want to hear. If the front page was somthing like " Girls to go topless for nix fans " you personally would want to buy it.

Lets face it we are just all angst at the possiblity of losing the nix.

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over 15 years ago · edited over 13 years ago

If there was anything newsworthy it might be worth getting.

Girls go topless for nix fans I can see at RoF when we are winning @ 80 mins (not much this season).

"Phoenix till they lose"

Posting 97% bollox, 8% lies and 3.658% genuine opinion.

Genuine opinion: FTFFA

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over 15 years ago · edited over 13 years ago

CboZ wrote:

I'd like a job with Terry too, any chances?

Only if you don't mind not getting paid...

I let my guitar speak for me

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over 15 years ago · edited over 13 years ago

Smithy wrote:

Okay, in very short form - the FFA are very clever at ringfencing their ownership of the league.

For example, go to www.iponz.govt.nz and search for "Wellington Phoenix". See who owns that trade mark?

The Phoenix effectively belongs to the FFA. They let CCF run it, and keep any profit (or suck up any loss).

CCF's only "asset" is the right it has to run an A League franchise. That right evaporates as soon as it is liquidated. While it retains that right, and remains in existence, it has the chance to trade its way out of its debt.

Liquidate it, and the IRD get nothing.

All the assets of value revert to the FFA, any remaining money goes to pay staff first, and then the IRD would get anything that is left after that, which aint going to be $1.6million that's for sure. More likely they'll be faced with a lengthy legal battle with the FFA to get any yet-to-be-paid broadcasting or other payments.

There are, in fact, three ways that CCF can stave off liquidation proceedings. One is to pay the debt outright, two is to come to an arrangement with IRD to pay the debt over time, and three is to go into voluntary liquidation (although the deadline for this has passed I think).

My bet is that they will enter into a payment arrangement for CCF, combined with a partial lump-sum paid either out of Terry's coffers, or stumped up on the quiet by the FFA.

And that is that.

At risk of being called a horrible and hurtful name...... do the IRD not operate to a different set of rules in situations where they target money owed? I know the IRD have immense powers [such as garnishing your wages to repay debt, without your authority etc] and I'd find it hard to believe that they have allowed the type of loopholes that fraudsters use, to remain open. He might not be able to hide behind a raft of company names, trusts whatever. I know they are absolutely ruthless in chasing debts owed to them and while they might accept a payment plan if they think they have a chance of getting their money [with huge fees btw] but I'm not sure if they will think of Terry as being a good bet or not. Despite some people on here screaming to the contrary, he has/does have money problems and legal action has been instigated on a number of occassiosn to get bills paid.

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over 15 years ago · edited over 13 years ago

can't he just sell some of his cars?
houses?
stuff he doesn't need?

I'm so sick of the dom post ragging on about Terry, and you know what, so is Rikki Herbet. (I know, I talked to him about it.)
I agree, I think we should all stop reading the dom post, I was talking with people the other day and they're all sick of the dom too.

and New Zealand Herald have a great new editor!

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over 15 years ago · edited over 13 years ago

12ubb3rduck3y wrote:

Well your only ripping on it because it's telling you somthing you don't want to hear. If the front page was somthing like " Girls to go topless for nix fans " you personally would ï¿½want to buy it.

ï¿½

Lets face it we are just all angst at the possiblity of losing the nix.

Bullsh*t, I wouldn't buy it because then it would just be the Sunday Truth. I'm bagging the Doom Post because it's shoddy journalism and muck-racking.

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over 15 years ago · edited over 13 years ago

I'm actually so sick of these stories and am over all the excuses of "he's a businessman he owes, sure, but he's owed also". I'd love an owner who was significantly more respectable whose hands we as fans could see the club being safe in. Who knows, as been mentioned, if a more respectable businessman owned the Phoenix we could get far better sponsorships.

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over 15 years ago · edited over 13 years ago

Wow, this is f**king ridiculous.

It was definitely a slow day in the news.

We will never fully decide who has won the football.

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over 15 years ago · edited over 13 years ago

come on guys - any businessman who has employees and companies depending on him who owes IRD 3.5 million dollars is news. Let alone one who also owns something many people are passionate about. The NZHerald doesn't report it as prominently simply because as you all often point out Aucklanders don't care about football as much as us here in the great city.

yes the Dom & Terry have a bad history but we all admit that Terry juggles his funds and has had previous problems he's had to scrape out of so there is obviously some basic credence to their stories. If the NIX suddenly folded one week we'd all be at the front line wondering why we were kept in the dark and no journalist or official released information.

personally I hope he manages to whip money out of a hat yet again but it does get a bit tiresome & must be hard on the players/ coaches/ managers etc. Many of us work for/ run/ own businesses and we all know not to mess with the IRD so it must have been a serious prob for him to let it slide this much
stealthkiwi2010-11-16 18:08:47

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over 15 years ago · edited over 13 years ago

Azevo wrote:

Wow, this is f**king ridiculous.

It was definitely a slow day in the news.

You clearly don't read herald.co.nz - we had HEAPS of other stories!

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over 15 years ago · edited over 13 years ago

Footpaul wrote:

Azevo wrote:

Wow, this is f**king ridiculous.

It was definitely a slow day in the news.

You clearly don't read herald.co.nz - we had HEAPS of other stories!

When it is the first story on One news, it just hits home there really wasn't much going on today.

We will never fully decide who has won the football.

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over 15 years ago · edited over 13 years ago

I've tried to get one with him but just fingers crossed and waiting game

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over 15 years ago · edited over 13 years ago

Junior82 wrote:

Sorry, I apologise Dominon Post.ï¿½

ï¿½

Great work, keep it up.ï¿½Quality newspaper you are, sorry I ever called you a rag.

ï¿½

[/QUOTE]

me too. I just can't actually type the words.

[QUOTE=Whitby boy]

5. Doom Post - hang yourï¿½collective head in shame - yes this is a legitimate story but the joy you obviously take in every trial and tribulation Terry suffers is sickenening - go f**kï¿½yourselves.

ï¿½

Again, I agree completely with Whitby (another great post). I've seen this sort of story leading section C a few times, rarely an ENTIRE front page (less 1 column) to a group of large NZ businesses having some negotiations with the Tax office - wow.

At work I overheard two colleagues briefly discuss how much of a non-story this is - particularly the report on what the Phoenix players thought about the situation or how some didn't return calls.

Very boring. Not going to be a Dom Post customer for a very, very long time now.

Central Hawkes Bay Nix
and tragic follower of Charlton Athletic

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over 15 years ago · edited over 13 years ago

And I'm never going to watch TV1 or TV3 again either. Such a non-story.

Now where is that messenger!

I let my guitar speak for me

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over 15 years ago · edited over 13 years ago

I'd be honoured to put some $$$$ into a supporter's trust if required. Without the Phoenix - I'm as good as dead.

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over 15 years ago · edited over 13 years ago

The players looked like they were in a good mood in one news sports .... why exactly?

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over 15 years ago · edited over 13 years ago

just had dinner

Central Hawkes Bay Nix
and tragic follower of Charlton Athletic

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over 15 years ago · edited over 13 years ago

VimFuego wrote:

And I'm never going to watch TV1 or TV3 again either. Such a non-story.

Now where is that messenger!

TV3 was fine. That Mr Cross seemed very reasonable to me.

"Phoenix till they lose"

Posting 97% bollox, 8% lies and 3.658% genuine opinion.

Genuine opinion: FTFFA

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over 15 years ago · edited over 13 years ago

Footpaul wrote:

Azevo wrote:

Wow, this is f**king ridiculous.

It was definitely a slow day in the news.

You clearly don't read herald.co.nz - we had HEAPS of other stories!

Did you have the one about the All Black's front row learning a new word too?

"Ive just re-visited this and once again realised that C-Diddy is a genius - a drunk, Newcastle bred disgrace - but a genius." - Hard News, 11:39am 4th June 2009

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over 15 years ago · edited over 13 years ago

Therk wrote:

The players looked like they were in a good mood in one news sports .... why exactly?

TV1 Sports News actually reported on the football for the 1st time in 3 weeks...

I was beginning to think that we all support Terry's transactional habits and not a football team!

"Ive just re-visited this and once again realised that C-Diddy is a genius - a drunk, Newcastle bred disgrace - but a genius." - Hard News, 11:39am 4th June 2009

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over 15 years ago · edited over 13 years ago

TVNZ always report on footbasll if its negative.

Hopefully this whole mess will be sorted out.

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over 15 years ago · edited over 13 years ago

stealthkiwi wrote:

One of the best summaries I've read on this forum regarding the current problems.

But I object to the suggestion Aucklanders don't care about football.

The Phoenix is not tied to Wellington and the club could be bought by an Aucklander.

"Auckland Phoenix", anyone?

It has a nice ring to it. And no more wild nights at the Cake Tin (weather, not YF).

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over 15 years ago · edited over 13 years ago

Dont shoot the messenger. I dont hate on Terry / the Phoenix and have taken massive enjoyment out of the phoenix over the last few years and only missed a handful of games.

Unfortuantely the fact is Terry is well known for not paying his bills on time. He does this with everybody, tax man, acc, subbies etc. Has done for years and its never made the papers. The best way to keep this out of the paper is to pay your bills on time. Especially where you have put yourself out there and made yourself a high profile personaility.

I once previously worked in the insolvency industry in NZ and have a fair bit of experience in dealing with the IRD. One thing that hasnt been mentioned is that failure to account for PAYE is a criminal offence in NZ. Terry could end up in prison if he doesnt deal with this, so it is a pretty big deal.

The IRD will not let him off this, and will liquidate if a suitable arrangement cannot be made. I'd suggest that Terry will need to offer something along these lines to get out of this:

1. $1m upfront

2. The balance in installments over time, perhaps over 12-18months

3. Keep all future taxes up to date

3 being critical. If he doesnt meet all future taxes on time the IRD takes an extremely hard line and would require full payment immediately to avoid a liquidation.

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over 15 years ago · edited over 13 years ago

scribbler wrote:

stealthkiwi wrote:

One of the best summaries I've read on this forum regarding the current problems.

But I object to the suggestion Aucklanders don't care about football.
The Phoenix is not tied to Wellington and the club could be bought by an Aucklander. "Auckland Phoenix", anyone?
It has a nice ring to it. And noï¿½more wild nights at the Cake Tin (weather, not YF).

I think the FFA would rather NO NZ team than do business in Auckland again.

Traitor2010-11-16 19:33:26

"Sharing rewards the weak"- Steven Colbert

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over 15 years ago · edited over 13 years ago

Watched Close Up item - well done Nathan G, Smithy and John Morrison - all calm, rational and logical - we'll work our way through it.

Also caught the end of the Campbell item - also well handled by Nathan G

In both items you could feel the passion for the club which I think took the sting out of Sainsbury and Campbell.

So, taking a moment to hand out bouquets in a difficult time;

Well done to Nathan G.

Well done to the IRD - "we don't comment on private tax matters (or words to that affect". ACC take note.

Kudos to Smithy (probably one of the very few of us who wouldn't have called Kitchen a cock when he had the chance) and John Morrison (in whom I think the club has a very good friend).

Now just the small matter of a tax bill to pay.........

He dribbles a lot and the opposition dont like it - you can see it all over their faces. (Ron Atkinson)

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over 15 years ago · edited over 13 years ago

Hi, yea i know it's not, i sent couple of months ago, this is my first time on the Forum and my comp was playing up at work so didn't realise it had actually posted, til now, i have made some changes to it and passed it on. Just having a look around on here.

Thank you

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over 15 years ago · edited over 13 years ago

Whitby boy wrote:

Watched Close Up item - well done Nathan G, Smithy and John Morrison - all calm, rational and logical - we'll work our way through it.

Also caught the end of the Campbell item - also well handled by Nathan G

ï¿½

In both items you could feel the passion for the club which I think took the sting out of Sainsbury and Campbell.

ï¿½

So, taking a moment to hand out bouquets in a difficult time;

ï¿½

Well done to Nathan G.

ï¿½

Well done to the IRD - "we don't comment on private tax matters (or words to that affect". ACC take note.

ï¿½

Kudos to Smithy (probably one of the very few of usï¿½who wouldn't have called Kitchen a cock when he had the chance) and John Morrison (in whom I think the club has a very good friend).

ï¿½

Now just the small matter of a tax bill to pay.........

Yeah, in my opinion the team has dealt with the whole issue much better than in the past. Remember that weird presser they had last time? They've obviously learnt something and it should take the wind out of the story's sails.

Let's hope the team get this sh*t sorted out, or else the lot of us will have to buy the team!

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over 15 years ago · edited over 13 years ago

Napier Phoenix wrote:

Smithy wrote:

Okay, in very short form - the FFA are very clever at ringfencing their ownership of the league.

For example, go to www.iponz.govt.nz and search for "Wellington Phoenix". See who owns that trade mark?

The Phoenix effectively belongs to the FFA. They let CCF run it, and keep any profit (or suck up any loss).

Liquidate it, and the IRD get nothing.

My bet is that they will enter into a payment arrangement for CCF, combined with a partial lump-sum paid either out of Terry's coffers, or stumped up on the quiet by the FFA.

And that is that.

Napier Phoenix is pretty much correct. IRD dont have any different rules, doesnt matter who you are, what you have done for community etc. There wont be any fees for a payment plan, they would effectively freeze the debt so it is definitly a legit option if Terry can convince them he is good for it. Unlikely they would garnsihee his income, this is normally for indiviiduals who are in employment who have some tax owing.

What is clear though is that any liquidator would have a very careful look at the finances, see what sought of transactions are going through, whether any money has been pulled out or whether Terry is trading the club recklessly.

Another point that rankles me (bcos I like Terry) is that he appears to be pretty sloppy. Those $100 income tax bills are likely to be two $50 late filing penalties for not filing his income tax returns on time. This is crazy, he wont have any tax to pay (the club is loss making) and he could channel other income through the club to save tax. Probably furhter indiciation of his cash flow pressure that he cant afford to have his accountant file these returns.

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over 15 years ago · edited over 13 years ago

If they liquidate the phoenix (ACC).. I will cry. For ages. I barely survive when the seasons over. Maybe we should step up and help Terry out!
donation boxes at the games?
anything!

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over 15 years ago · edited over 13 years ago

CboZ wrote:

I pretty much told them to shove it, on twitter @stuffnz feel free to do the same

Shot Cuzzie! We need to chat about this asap!

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over 15 years ago · edited over 13 years ago

phoenix_luver wrote:

If they liquidate the phoenix (ACC).. I will cry. For ages. I barely survive when the seasons over. Maybe we should step up and help Terry out!
donation boxes at the games?
anything!

Anyone else seen the stories about how much the homeless can make begging in Melbourne? Why don't we get the team do grow some beards and beg on the streets for a few hours before away games? Problem solved!

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over 15 years ago · edited over 13 years ago

The Burgess scam?

"Phoenix till they lose"

Posting 97% bollox, 8% lies and 3.658% genuine opinion.

Genuine opinion: FTFFA

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over 15 years ago · edited over 13 years ago

Beg for money to pay off Terry's taxes? Thanks but no thanks.

http://www.youtube.com/watch?v=qe_B5CzbTJo - Caceres winning penalty v Perth - footage from the Fever Zone

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over 15 years ago · edited over 13 years ago

Steve-O wrote:

Beg for money to pay off Terry's taxes? Thanks but no thanks.

I beg to differ.

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over 15 years ago · edited over 13 years ago

Nice pun...feel free to go begging, but I've given the club enough money without having to help pay off their tax bills as well!

http://www.youtube.com/watch?v=qe_B5CzbTJo - Caceres winning penalty v Perth - footage from the Fever Zone

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over 15 years ago · edited over 13 years ago

I'm so up for it, I'm a teenager so I'll easily get sh*teloads with people feeling extra bad with 'teens on the streets'

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over 15 years ago · edited over 13 years ago

Just watched the close up piece. Good to see them admit they jumped on the bandwagon last year. Although trying to interview the players was just cringworthy.

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over 15 years ago · edited over 13 years ago

Traitor wrote:

scribbler wrote:

stealthkiwi wrote:

One of the best summaries I've read on this forum regarding the current problems.

But I object to the suggestion Aucklanders don't care about football.
The Phoenix is not tied to Wellington and the club could be bought by an Aucklander. "Auckland Phoenix", anyone?
It has a nice ring to it. And no more wild nights at the Cake Tin (weather, not YF).

I think the FFA would rather NO NZ team than do business in Auckland again.

Another Auckland bid couldn't just be the NZ Knights-In-Drag. That would be a disaster.

But if the money was there and it came with the financial clout of seriously wealthy and successful businessmen like (for instance) Sam Morgan, do you really think the FFA would turn it down? Just because it was in Auckland?

Aucklanders have seen what professional football in this country can aspire too.

Built it right and super-city footy fans would follow.

(typo)

scribbler2010-11-17 11:29:58

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over 15 years ago · edited over 13 years ago

Smithy -- Number 1 fan. I had to chuckle.

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Terry&#039;s neverending money issues

Terry's neverending money issues