New beginnings - 25% Truth, 80% Bollocks

[horlock07]

Surely the separate JV entity owns the CG. Clem ‘only’ owns 100% of the football club.

This and also worth bearing in mind that whilst Clem has, in theory, obtained 50% of a £2.3m 'asset' for free, what that is actually worth in real world monetary terms of probably a matter for such debate considering its an asset that needs probably 5x that spending on it, plus due to the nature of the JV he can't do much without approval from the other party, a party that is not remotely driven by financial matters. 

[Mooneyraker]

The March advisory board minutes were released on 14th, so I assume we get April's this week?

[DMC]

Believe they are happening as we speak so i would think so. I bloody hope there is a lot more to be said before that though

[RobertT]

Is he in charge of day to day operations?  I've not seen anything that suggests that.

Surely you've elevated him from an honorary spiv who has influence as a mate of Clems and given a slot on the AB, which many think is pointless - to someone who runs the club on a full-time basis.    The rest of the statement is fine but that bit is pure conspiracy and speculation.

Zav is described by Clem, in a statement last summer, as the clubs Vice Chair, doing significant work for the club.

[RobertT]

I don't understand all this 50% ownership lark. If clem sold the club does he get 50% off the sale? Not a bad deal if he didn't pay a penny towards it. He will pass his debt on to the new owner and take a good share of the spoils. Is that how it works?

The club owns a 50% share in a JV company.  That company, right now, owns a sole asset and has a single reason for existing - the ground.  They are run as two separate entities, with restrictions factored into how the JV company can operate.  The club, owned by Clem in it's entirety now has two assets on it's books that it acquired without payment - 50% ownership of the JV company and 100% ownership of a long term leasehold on the ground.  Both are realisable assets, both will need to be accounted for as such.  The club will charge depreciation of both assets to the Net Profit line in it's accounts, but now has 2m+ worth of assets on it's books that would absolutely increase the value of the business it operates.  Even with restrictions, they do open up financing opportunities, even if they could not be used as security.  Just being on the books increases the creditworthiness of the business.

In the event of a sale - the two big things are adding assets (at no cost) and transferring debt to Directors Loans.  Both these things make a buyer much more likely to pay money.

[Mooneyraker]

Worth revisiting this Clem/Zav/Rob interview with Vic.

Skip to about 28 mins for Clem's description of Zav's involvement.

[RobertT]

"he did something stupid" is a bit of an understatement!

[DMC]

What more should he say though Rob? He has acknowledged it

I agree he should not be at the club but surely we can all read between the lines and see he had to keep him on to be able to get the club. It's the day to day running of the club now though that Clem needs to address

[Mooneyraker]

I think this all began as a conversation about whether he had passed the FPP Test (which he clearly hasn't), the crap answers in the Advisory board and questions over whether his continued involvement in the club could make him a Relevant Person in the eyes of the EFL, leaving us open to some sort of punishment potentially.

After nearly two years it is about 'openness and transparency' in terms of what his actual role is at the club and if he failed the test, which seemed pretty inevitable given the history.

[RobertT]

What more should he say though Rob? He has acknowledged it

At that time, nothing.  It was just a rather underwhelming description of what he actually did - thought he would have at least given it a more serious response.  That's 18 months ago now though, means nothing about the here and now.

The now is about a club without any footballing knowledge or business acumen.

The now is about still having him hanging around despite ongoing court cases and FA/FL punishment possible.

The now is about the need to clear the decks and get this club operating like a proper football club.

What is clear in the 18 months since is Zav has added very little, that is out in the open and obvious beyond some sort of comfort cushion for Clem (or maybe worse, some sort of financial entanglement).

[horlock07]

What more should he say though Rob? He has acknowledged it

I agree he should not be at the club but surely we can all read between the lines and see he had to keep him on to be able to get the club. It's the day to day running of the club now though that Clem needs to address

Ultimately if Clem wants him there not sure what else those who don't can do, not seen anything to suggest that he is signing off on the finances above the CEO's head or the like and its Clems toy to do with what he pleases.

Like so much I am not sure what people are expecting Clem to come out and say, he has apparently addressed Austin's past previously so what else can or will he say (and what will it realistically achieve).

Likewise with this clamour for some sort of statement re this season or the mystical 1-5-10-200 year plans, it will all be some sterile nonsense about seeking promotion, getting us higher up the ladder, being sustainable etc with some generic KPI's which can be interpreted as achieved or not each year depending on whether one is a glass full or glass empty type.

What I don't expect to happen is the Game of Thrones esque Walk of Shame some seem to be clamouring for of a naked Austin and Sandro walking down Fleming Way whilst fans throw dung at them and shout 'shame', that just doesn't seem to be Clems style.

[Wobbly Bob]

Both these things make a buyer much more likely to pay money.

Coupled with your previous succint summaries this might explain why Power, after leafing through his copy of Business for Dummies, decided to get on board with the joint CG purchase plan with the Trust after the initial stonewalling.

He must have realised that there was no chance of the Eady Trust playing ball, so would have had to look at alternative sources of funding other than his own pocket.

All history now I know, but still interesting to see how a mind whose primary motive was greed might have operated.

[RobertT]

What I don't expect to happen is the Game of Thrones esque Walk of Shame some seem to be clamouring for of a naked Austin and Sandro walking down Fleming Way whilst fans throw dung at them and shout 'shame', that just doesn't seem to be Clems style.

No - statements, public slayings, none of that necessary.  Actions are needed now - a complete overhaul being visible.  Well, unless more of the same is expected, in which case, carry on as we are.

[Mooneyraker]

What I don't expect to happen is the Game of Thrones esque Walk of Shame some seem to be clamouring for of a naked Austin and Sandro walking down Fleming Way whilst fans throw dung at them and shout 'shame', that just doesn't seem to be Clems style.

Can we have this instead of the open training session tomorrow?

[tans]

People sending an article round twitter saying Clems uk business went bust.

The article is from 2020

Idiots