Chairman

[Cookie]

The interview with patey on the adver match day thingy before the game is interesting about investors writing off their debt. Abib already willing to do this.

This is great news right? Couldn't see it discussed elsewhere. 

[cheltred69]

Heard a bit of this interview on the radio as I was driving to the match yesterday.

From what Patey was saying, it appears that the debts that we had prior to the takeover weren't paid-off but were assumed by the investors (Arbib, Black etc.).  There is no chance that these debts will ever be repaid so they have zero real value to the holders.  However their presence on the balance sheet is deterring would-be investors from getting involved.  So the plan seems to be to negotiate the writing off of these debts so that the club can move forward with new money.  I thought he suggested that Arbib was also prepared to put more in if this happened, but nay have misunderstood that bit.

Also Patey confirmed that the main reason that Black wanted to replace JW was that he spent 100% of his time on the footballing side when we needed a chairman to take forward the commercial side which was being neglected, specifically the ground redevelopment.

[kerry red]

From what I understand, JW was unpaid for the work he did with the club and Matey Patey is going to get some sort of salary.

So why couldn't JW stay doing what he was doing on the football side, and Matey Patey come in as an additional person for the commercial side.

Unless I've got it all wrong

[herthab]

From what I understand, JW was unpaid for the work he did with the club and Matey Patey is going to get some sort of salary.

So why couldn't JW stay doing what he was doing on the football side, and Matey Patey come in as an additional person for the commercial side.

Unless I've got it all wrong

A chairman surely should be involved in all aspects of the club, not just the on field activities. As nice as JW is, it's clear that the owners weren't happy with his stewardship of the club and as a result had to make a change. He was offered a place on the board still, but refused.
I'd rather have someone who is actively working behind the scenes to improve the football club than someone who appeared to be not much more than a director of football (As nice as he is).

[fittons_coaching_badge]

Could director of football be the role jw was offered?

[Batch]

The interview with patey on the adver match day thingy before the game is interesting about investors writing off their debt. Abib already willing to do this.

This is great news right?

Not sure if its good, bad or indifferent.

My take , with complete lack of fiscal knowledge, was that he would be seeking all parties to write off some debt. If they agree, its obviously good news in that investors will be easier to attract. You don't want to invest in a great big financial liability.

However, to me it also signals that Black and Arbib are 'desperate' (keen) to get investors on board far sooner rather than later. Don't know if that means they want out, or want to continue but can't afford to do what they want on their own.

The loss of Fitton and Wray from the FC concerns me. They have yet to agree to write of their debt and the last thing we want to see is another holding company ding dong.

As for JW, seems obvious he wasn't taking things in the direction Black wanted. "Doing a good job on the football side" is subjective. To me our resurgence under PDC has been been fantastic in terms of results. Most Town fans wouldn't argue with that. But to Black, perhaps it has become (or was always) unsustainable and money was being spent on players rather than other stuff.  

Who knows, the waters are very muddied right now.

Who knows.

[Iffy's Onion Bhaji]

Not sure if its good, bad or indifferent.

My take , with complete lack of fiscal knowledge, was that he would be seeking all parties to write off some debt. If they agree, its obviously good news in that investors will be easier to attract. You don't want to invest in a great big financial liability.

However, to me it also signals that Black and Arbib are 'desperate' (keen) to get investors on board far sooner rather than later. Don't know if that means they want out, or want to continue but can't afford to do what they want on their own.

The loss of Fitton and Wray from the FC concerns me. They have yet to agree to write of their debt and the last thing we want to see is another holding company ding dong.

As for JW, seems obvious he wasn't taking things in the direction Black wanted. "Doing a good job on the football side" is subjective. To me our resurgence under PDC has been been fantastic in terms of results. Most Town fans wouldn't argue with that. But to Black, perhaps it has become (or was always) unsustainable and money was being spent on players rather than other stuff. 

Who knows, the waters are very muddied right now.

Who knows.

Think the 2nd paragraph here is what worries me the most. Why the sudden need for new investment so urgently? Sure we need investors to try and get the re-development funded or part funded but is there a feeling from Black that if he can find new investment he would be quite willing to give up his stake in the holding company?

I guess we won't find out until new investment is secured (assuming we manage to secure any that is).

I didn't know Fitton and Wray had any debts from the club. I didn't think they actually put much money into themselves they were just running the club and acting as representatives for Black and Arbib. Maybe i'm wrong?

[Flashheart]

Only football fans could take new investment as a negative.

[ghanimah]

Only football fans could take new investment as a negative.

Experience over hope...?

[Flashheart]

Experience over hope...?

Paranoia

[Batch]

Only football fans could take new investment as a negative.

We haven't had any new investment over and above Black's sizeable wedge at the start of season?

[Iffy's Onion Bhaji]

Only football fans could take new investment as a negative.

New investment would be great for sure but it depends what comes with it. Any investor(s) are likely going to want a stake in the holding company and a big influence on how the club is run and on future plans.

Now i'm fully behind the current owners and regime so let's hope they find someone that fits in. The last thing we want is a 50/50 split ownership of the club with both owners having different ideas for the club.

[Flashheart]

We haven't had any new investment over and above Black's sizeable wedge at the start of season?

You must surely already know I am referring to restructuring to attract new investment?

[Flashheart]

New investment would be great for sure but it depends what comes with it. Any investor(s) are likely going to want a stake in the holding company and a big influence on how the club is run and on future plans.

Now i'm fully behind the current owners and regime so let's hope they find someone that fits in. The last thing we want is a 50/50 split ownership of the club with both owners having different ideas for the club.

I find it amusing that people feel the need to think up reasons to be negative.

[Iffy's Onion Bhaji]

I find it amusing that people feel the need to think up reasons to be negative.

Not necessarily saying it to be negative. Just making the point that it could happen. Equally though we may find an investor willing to pump money in that fits in perfectly and boosts the club even more. If that's the case then brilliant.