Adver News: Town release Ritchie statement

[DiV]

No but if I didn't do the repairs on the house the current owner wouldn't sell one of the rooms to bloody Bournemouth and still expect me to pay the same prices for the house....

[Paolo69]

Using the house analogy, you wouldn't pay money out on repairs on a house you were buying until the sale had completed. If you did and the sale fell through you'd have lost that money. Think the Le Tissier consortium lost a large sum in similar circumstances when their purchase of Southampton collapsed.

No but at the same time i wouldn't want some cunt to sell the roof of said house 2 days before i bought it either.

Basically buying a football club is not like buying a house.

[Paolo69]

Beat me to it DV.

[iffy]

A couple are divorcing and trying to sell their house so they can get on with their separate lives. They also have a talented Italian son, who has the chance to become a top concert pianist, but seems to need a lot of funding to play in the Carnegie Hall nPower Championship. Mum, let's call her Jeremy Wray, keeps persuading Dad to fund the son, and pay the mortgage.

Dad gets annoyed. He wants to move on. He doesn't like the piano. He doesn't like Mum tapping him up for piano lessons on top of maintenance. He's not sure the son is even his. He gives them an ultimatum. Find someone to buy the house. The piano lessons can take a running jump.

No-one wants to buy the house. Dad, frustrated, says he'll even pay the mortgage off if someone will buy it. Dad is rich and the whole divorce is making him unhappy. With no mortgage, young Paolo might even have a shot at his dreams. It's not about the money.

"A free house?" think a number of local double glazing salesman. I'll have that. Even if I have to promise that I'll sponsor that precocious sod's piano lessons.

The double glazing salesmen, as they do, drag their feet. It looks like the deadline will be missed but there is a mortgage payment due on the 1st.

Dad, to illustrate the point that he was serious about the January deadline, refuses to pay any more money. He suggests that to pay the mortgage, Mum should sell her engagement ring. She sells it, but gets a rubbish price for it. The January mortgage gets paid.

The double glazing salesman walk into the house, that they now own, mortgage free.

They sit down young Paolo, and tell him that they too share his dreams of playing piano in the Carnegie Hall nPower Championship, only times are tough right now.....

[ghanimah]

If this new consortium don't have a spare 400k and couldn't get it any other way (ie even a short term loan from Black) then they sound pretty shit to me...

They wouldn't get a short term loan from Black, because, if my theory holds water - which I'm not saying it does - would negate the threat of administration in order to force the other consortium members to agree to a deal on Black's terms.

As long-suffering experienced Swindon supporters, questions are rightly asked of the new owners (elect) but I don't think we can underestimate internal disputes within the current board either - especially given they have clearly fallen out albeit demonstrating more public dignity than has happened before.

Obviously we have to wait for more details, but the utter ruthless nature in which Ritchie was dispatched suggests there's more than just finances involved.

[hobnob]

Thanks Iffy, all has become clear now, classic!

 

[Cibocchi_Is_God]

A couple are divorcing and trying to sell their house so they can get on with their separate lives. They also have a talented Italian son, who has the chance to become a top concert pianist, but seems to need a lot of funding to play in the Carnegie Hall nPower Championship. Mum, let's call her Jeremy Wray, keeps persuading Dad to fund the son, and pay the mortgage.

Dad gets annoyed. He wants to move on. He doesn't like the piano. He doesn't like Mum tapping him up for piano lessons on top of maintenance. He's not sure the son is even his. He gives them an ultimatum. Find someone to buy the house. The piano lessons can take a running jump.

No-one wants to buy the house. Dad, frustrated, says he'll even pay the mortgage off if someone will buy it. Dad is rich and the whole divorce is making him unhappy. With no mortgage, young Paolo might even have a shot at his dreams. It's not about the money.

"A free house?" think a number of local double glazing salesman. I'll have that. Even if I have to promise that I'll sponsor that precocious sod's piano lessons.

The double glazing salesmen, as they do, drag their feet. It looks like the deadline will be missed but there is a mortgage payment due on the 1st.

Dad, to illustrate the point that he was serious about the January deadline, refuses to pay any more money. He suggests that to pay the mortgage, Mum should sell her engagement ring. She sells it, but gets a rubbish price for it. The January mortgage gets paid.

The double glazing salesman walk into the house, that they now own, mortgage free.

They sit down young Paolo, and tell him that they too share his dreams of playing piano in the Carnegie Hall nPower Championship, only times are tough right now.....

 

[joteddyred]

I call bullshit.

Two consortiums of wealth business men couldn't find a way to fund 400k so sold their best asset at about a third of what it's worth. Bollocks.

This.  If Black has written off £10 million of debt, what's another £400,000 in the grand scheme of things?

Still doesn't provide an explanation as to why he was sold so cheaply either.

[Simon Pieman]

Andrew Black was owed £500k by the football club, due to be repaid in 2013.

[Samdy Gray]

This.  If Black has written off £10 million of debt, what's another £400,000 in the grand scheme of things?

A shit load of money.

People just need to accept that Black didn't want to put any more money into a club that he was selling and the new guys didn't want to put any money into a club that they don't actually own. Sucks, but that's the way it is.

[Not that Nice If I'm Honest]

Is this the Town End Forum ?

Or have I stumbled upon the website for Kirstie Fucking Allsop ??

[Flashheart]

Black didn't want to put any more money into a club that he was selling and the new guys didn't want to put any money into a club that they don't actually own.

In a nutshell.

[RobertT]

A shit load of money.

People just need to accept that Black didn't want to put any more money into a club that he was selling and the new guys didn't want to put any money into a club that they don't actually own. Sucks, but that's the way it is.

Quite.
Let's not forget that Black was only ever funding his mates, who have long departed and didn't have the money to fund us themselves.  I think some people seem to believe he should give a shit, but the reality is why should he? why should he spunk another 400k up our wall?
I'm sure any of us would do it if we had £100m to fall back on, but he's not one of us.  He's a horse racing nut.

[donkey]

Basically buying a football club is not like buying a house.

I understood it was...now I'm confused.

[Stevecourty]

A shit load of money.

People just need to accept that Black didn't want to put any more money into a club that he was selling and the new guys didn't want to put any money into a club that they don't actually own. Sucks, but that's the way it is.

Unfortunately this is exactly how it was and all the people complaining we only got 400k for him which was shite it doesn't matter it's going to mean a bunch of players can be brought in to strengthen. Ritchie was class there is no doubt about it but he was just one player.