Sale of the Club

[Summerof69]

To be fair it's not as though they are paying that 10M to the HMRC or anything... It just means they wont get it back, maybe Black & co just want to cut their losses and get out ASAP. Or is that wishful thinking?

Black did indicate that he would be prepared to write off most of the debt on the deal.

The debt will then go down from £13m to £3m, which is currently the losses Shitty mount up in 2.5 months, according to their latest accounts.

[DiV]

The new owners have basically been given the club, paid nothing and with a large wage bill I really hope these guys have deep pockets as they obviously didn't have enough whereby the previous investors got any of their money back. I really hope I'm wrong as the past two years have been awesome and I don't want to what has been built up knocked down.

Do you post anything that isn't complete bollocks?

[Cibocchi_Is_God]

Hopefully he sticks to his word and is able to do that then! All this take over stuff is giving me a headache to be honest... Just want it over and done with!

[LittleRed]

Do you post anything that isn't complete bollocks?

Lets hope not

[herthab]

I don't know what the fuck is going on, just like everyone else.
Unfortunately I haven't got either the imagination or pessimism to come up with any theories as to what it all means for the club.

[leefer]

Points West.....the former owners have written off the debt.

So at least we can send Mr Black on his way with a big pat on the back for this at least.

[jonny72]

I really don't get it.

They bank roll the club, agree a budget in the summer, then released further funds. Then they suddenly pull the plug, with threats of administration and having to sell players to balance the books. Then they sell the club and write off the debt.

I still think there is something we don't know about. Some kind of shit has gone down.

[SuggWillSugg MBE]

I think it might e time to have a beer.

[leefer]

I really don't get it.

They bank roll the club, agree a budget in the summer, then released further funds. Then they suddenly pull the plug, with threats of administration and having to sell players to balance the books. Then they sell the club and write off the debt.

I still think there is something we don't know about. Some kind of shit has gone down.

Nope...just the rich getting fed with certain toys.

[BruceChatwin]

Points West.....the former owners have written off the debt.

So at least we can send Mr Black on his way with a big pat on the back for this at least.

If this is true, and he's leaving us with a genuinely clean slate, then he deserves massive credit for what he's done for this football club.

 

Edit: i realise i've just used the phrase 'this football club,' one i've always hated for its overuse by managers in post match interviews. It's easier to slip into these football clichés than i realised.

[ghanimah]

I really don't get it.

They bank roll the club, agree a budget in the summer, then released further funds. Then they suddenly pull the plug, with threats of administration and having to sell players to balance the books. Then they sell the club and write off the debt.

I still think there is something we don't know about. Some kind of shit has gone down.

My guess is, as a founder of Betfair, and a gambling chap in general - he's simply invoked his 'stop-loss'

[Peter Venkman]

I think that no matter who the new owners are they will never be able to please all of our fans.....ever.

Some of our fans live in the Football manager world where they hope for a billionaire who will pump money into the club for fun and want nothing back out of it except to have his ego stroked.

These people DO NOT ever buy into lower league clubs, some fans need to get real.

We are a smallish club that are now clear of debts off the pitch with a bright future ahead of us with a great manager and good squad, if the new owners back Paolo then we have a great future head of us in possibly a higher league from next season.

I expect there will be business people involved who want to either redevelop the CG or move to a new site, virtually 100% of all new owners of clubs would be looking at a similar plan if a new ground was not already in place, makes perfect common sense to want to forward the club off the pitch as well as on it.

I think we should be fairly glad that it is all sorted now and not worry too much about motives behind these people until we actually know their plans/goals or for that matter exactly who they are.

Maybe one or more of them has a lot of money that they are willing to put into the club, I say one because apparently one of the backers is nameless and has a lot of money so the beeb insinuated yesterday.

Lets wait and see what they say before we write them off as being a bunch of grabbing assett stripping wankers which some people seem to be thinking they will be yet in all fairness we know nothing about them yet.

[RobertT]

We don't really have many assets to strip.  A few players worth a few bob, but not enough to cover off the losses in the long term, or only just create a small profit.  We don't own our ground and as the Wills gang showed, even the stands csn't be mortgaged for too much.

So it is always about potential, be that making a name for yourself or be it from some sort of ground development/re-development.  I'm not sure that worries me right now, something to be more concerned about once we get there and ensure a Kassam doesn't occur.

[Bewster]

I am still a long way from feeling comfortable about all of this.

Thank you Mr Black, for everything.

[bassett boy]

I am still a long way from feeling comfortable about all of this.

Thank you Mr Black, for everything.

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