New beginnings - 25% Truth, 80% Bollocks

[The Artist Formerly Known as Audrey]

Think we already have that here don’t we?! Let’s be brutally honest here, the only reason Morfuni got involved here was to try and make money from any ground redevelopment.

How does he make money from that? How does he even finance any redevelopment let alone make money from it.

[Bogus Dave]

Can imagine the initial plan was to use axis as lead contractor on any redevelopment work. Everything since has been an exercise in getting his investment back

[The Artist Formerly Known as Audrey]

Ah, the now extinct UK arm of Axis.

[Nemo]

Can imagine the initial plan was to use axis as lead contractor on any redevelopment work. Everything since has been an exercise in getting his investment back

Although at face value, this appears to have mostly involved throwing good money after bad.

On a personal level, this whole thing feels like a fucking disaster for Clem financially and emotionally, which is why I find it so hard to believe he isn't looking to sell.

[joeydubya]

Although at face value, this appears to have mostly involved throwing good money after bad.

On a personal level, this whole thing feels like a fucking disaster for Clem financially and emotionally, which is why I find it so hard to believe he isn't looking to sell.

Should call his company Icarus instead of Axis

[iParadise]

Although at face value, this appears to have mostly involved throwing good money after bad.

On a personal level, this whole thing feels like a fucking disaster for Clem financially and emotionally, which is why I find it so hard to believe he isn't looking to sell.

I have no doubt the rumours about him wanting a sale are true. I'd be very surprised if we didn't have a new owner by the summer. The longer he keeps the club the less valuable it is. A club in League 2 is going to cost more than a club in the National League.

[Bogus Dave]

Although at face value, this appears to have mostly involved throwing good money after bad.

There’s very little evidence since he was handed the keys that clem is good at business

[DiV]

I imagine Clem (and/or whoever is behind Clem) are going to want all their directors loans paying up in full as part of the sale - which would inflate the price, right?

So any new owner would need money upfront to buy the football club & pay off all its debt.
Can’t see many people queuing up to do that…

[The Million Pound Man]

but but but Clemmy told us he was wiping the debt

[The Artist Formerly Known as Audrey]

I’m no expert but wouldn’t the debt have an effect on the selling price - i.e. the more debt there is, the less the club would be worth.

Don’t forget, Clem paid next to nothing for the club.

[Power to people]

Depends what Clem is willing to take for his shares - just because the debt to him is £7m for e.g. don't mean to say that is what someone is willing to pay - he may decide for e.g. he would accept £5m as it stops him having to put more money in and be owed even more that someone would not pay, and he is happy to get out and lose that £2m - or the £2m maybe repayable on stfc reaching the promised land within 10 years for e.g.

[theakston2k]

I still don’t believe for one second Morfuni ever had £7m to put into the club or has personally put in that value.

Whose money has really gone into the club is anyone’s guess but I doubt a sale of ‘his’ shares is a decision Morfuni can make alone.

[ChalkyWhiteIsGod]

Yeah, I don't really buy it either. He's had to put money in, but he's probably just 'borrowed' that from some of his mates to pay it back in services, hence why the club is losing so much money.

[4D]

Isn't that shown in the detailed accounts? Oh wait....

[tans]

Isn't that shown in the detailed accounts? Oh wait....

Its ok, we are Fairgames guinea pig when it comes to the explanation of the accounts.

Had to be us, their first one didnt it

https://x.com/fairgameuk/status/1760017060132683787?s=46&t=sUQ-fFgelrF5oqTmo-D8tA