New beginnings - 25% Truth, 80% Bollocks

[RobertT]

And that is the challenge - what is our real trading position?

The only Accounts we have showed a small profit in 21/22

The CEO stated we were spending 8M+ a year, which is a big jump from those 21/22 accounts - on what? is the question.

Clem has injected money to pay off existing debt, not trading losses, until at least 2022.

We now know some money came from other sources, with the Debenture repayment.  At the time it happened, Clem claimed he paid it all, so the next big question (for someone doing due diligence) would be to confirm the source of other injections of money into the business to pay those external debts.

[Wobbly Bob]

I reckon it's a case of wanting to get involved in the redevelopment of the ground & keeping the club ticking over (just above life support?) in the meantime.

Does the CG as it stands add a great deal to the value of the club as it stands, another million or so maybe based on "purchase" price.

A fully redeveloped ground churning out income is a much more viable proposition.

Means & wherewithal to get there is the issue though which could be why we are seemingly floundering at the moment.

A logical path would be to seek additional investment in a normal business environment?

[DiV]

It definitely feels to me - almost like Clem has dropped the nice guy front now the club own part of the ground & like you I’d assume having fingers in the stadium pie was his main target / reason for buying the club

…but how on earth does he finance stadium development?

Which is why I mused if he could sell the club but keep part ownership of the stadium. Then use the money he got from selling the club to redevelop the stadium and make a decent income from that long term…which depending on the split could screw the club.

Not exactly the same situation but similar to when Kassam bought some little football club to basically build a stadium that was his & that he’d continue to own once he’d found a buyer for his little football club.

[ChalkyWhiteIsGod]

…but if the club is operating at a legit loss and Clem (and/or whoever is behind Clem) have to keep plugging the losses - then surely they’re going to run out of money at some point?

Even if Clem keeps transferring the debt to himself as a loan - he’s only likely to get that back by selling the club, right?


Obviously if the club is operating at a self inflicted loss due to fingers in the till: that’s a different story altogether

IF the club really is operating at a loss, then they're all still lining their pockets in the process. 100%

[ChalkyWhiteIsGod]

It definitely feels to me - almost like Clem has dropped the nice guy front now the club own part of the ground & like you I’d assume having fingers in the stadium pie was his main target / reason for buying the club

My brother said he spoke to some that work in the legends lounge around the time he came in and I was gushing about how amazing it is to have a town fan on the board, etc. and the feedback was basically he's nice to you if he thinks you're useful to him and rude as fuck if not. Definitely been a front.

[Robinz]

Sorry to say this was plain to see from day one.
If a deal is to good to be true..... it normally is.

[tans]

Not exactly the same situation but similar to when Kassam bought some little football club to basically build a stadium that was his & that he’d continue to own once he’d found a buyer for his little football club.

They have one more yearleft  on their lease at the Kassam, then will move to a new stadium and then he can sell the land for housing.

[tans]

My brother said he spoke to some that work in the legends lounge around the time he came in and I was gushing about how amazing it is to have a town fan on the board, etc. and the feedback was basically he's nice to you if he thinks you're useful to him and rude as fuck if not. Definitely been a front.

Typical narcissistic behaviour

[The Artist Formerly Known as Audrey]

They have one more yearleft  on their lease at the Kassam, then will move to a new stadium and then he can sell the land for housing.

Just as he did with the Manor Ground. Can’t remember if was turned into housing or whether the John Radcliffe expanded into it. Built a cheapo stadium with 3 sides, charged £800,000 rent. Now rinse and repeat.

Clever fucker that Kassam.

[tans]

Just as he did with the Manor Ground. Can’t remember if was turned into housing or whether the John Radcliffe expanded into it. Built a cheapo stadium with 3 sides, charged £800,000 rent. Now rinse and repeat.

Clever fucker that Kassam.

Yeah its a private hospital now.

As you say, very clever businessman

[The Million Pound Man]

I see we've withdrawn from the Wilts Premier Shield.

Presumably not enough depth to put a team out and/or budget to fulfil the fixtures.

[tans]

I see we've withdrawn from the Wilts Premier Shield.

Presumably not enough depth to put a team out and/or budget to fulfil the fixtures.

I thought you had to play county cup? Even just stick the youth team out?

[Costanza]

I believe Westbury haven't bothered either this season.

Shame as I quite enjoy these games but iTown have a small senior squad and youths in a cup run then it's probably for the best.

[Mooneyraker]

I see we've withdrawn from the Wilts Premier Shield.

Presumably not enough depth to put a team out and/or budget to fulfil the fixtures.

Aren't we taking cup competitions seriously this season? I thought that was the plan...

[4D]

Aren't we taking cup competitions seriously this season? I thought that was the plan...

Like the FA Cup?