CVA Payment

[Reg Smeeton]

To be fair it should be pointed out that the cub have not confirmed the story yet.

After all the media are well known to report on internet gossip and half truths. Maybe BBC RS should ring the club for official comment.

 I suspect that RS will have done their own research on this....they're usually accurate.

[Hexagon]

I find it hard to believe that with some of the money that’s come through the club in this year they have not paided the 100k payment for June 06.

[Batch]

 I suspect that RS will have done their own research on this....they're usually accurate.

I'm sure they have. It was sarcasm aimed at the media swip in the  "statementfest" the club produced last month. Ring the club and we'll tell you what is going on - unless we don't what you to know.

Anyway I think this thread topic was probably raised in the first place because the BBC weren't the only ones who knew the story.

[Reg Smeeton]

Pravda, has now got some bullshit  about a share issue.....no need to panic then Jones.

[Batch]

CVA Update

When the CVA was structured five years ago it was envisaged that by now a new stadium would be in place. If this had taken place, as part of the agreement for the financing of the new stadium and the restructuring of the football club, the CVA would have been settled.

In recent days a rights issue has been launched to raise further funds to finance the cash shortfall that is forecast at the end of the season. This rights issue is within the holding company and not the Football Club. There will also be in the very near future a rights issue within the Football Club, thus restructuring the Football Club's finances and creating further shares.

The County Ground

The Board have for some time been discussing with the administrator the requirement for a variance of the CVA. With the additional problem of this years overspend, this years payment has been, with agreement, delayed until the rights issue is completed. The Board are also taking the opportunity to see if they can include this year's payment in the variance.

These negotiations have been ongoing for a number of months, commenced prior to the AGM, and will be concluded in the very near future.

All relevant parties have been kept informed at all times. The Board is acting in the best interests of the Football Club and the Board are confident that we will achieve a satisfactory solution.

Probable Translation:

We knew we hadn't paid the CVA yet told you otherwise and hoped you wouldn't notice. We have no idea how to raise money. So we'll issue some more shares in the hope that'll work.

No doubt though they'll say they hadn't technically lied because they delayed payment was "in agreement", though it is by no means agrees ??!?!

[Reg Smeeton]

That's it.   Who in their right mind would buy shares being sold by this lot.  Any ordinary fan with a bit of spare cash willing to give to the club, would surely be better off going down the Trust/Consortium route.....at least that way, you could expect some basic competence and not ecomomy with the truth.

[RobertT]

Re that statement:

That's utter bollocks.  Nobody knew of an overspend until end of July - according to the club.  The payment was already due by then and POwer was still at the club.  Either they lied about the overspend and Devlin or they are telling more porkies now.

[Sharky]

I think we are all being a little over critical

As a lower league club we are hardly a gold mine for profit, hence making ends meet is hard enough let alone trying to pay off debts built up from previous years!

Lets face it, unless someone has some serious money and business nouse then the only way we can help is by getting as many people to games as possible and supporting the team!

Unless we do that they have no hope of making ends meet and complaining about it simply wont get any of us anywhere!

IMO

[TalkTalk]

I think we are all being a little over critical

As a lower league club we are hardly a gold mine for profit, hence making ends meet is hard enough let alone trying to pay off debts built up from previous years!

Lets face it, unless someone has some serious money and business nouse then the only way we can help is by getting as many people to games as possible and supporting the team!

Unless we do that they have no hope of making ends meet and complaining about it simply wont get any of us anywhere!

IMO

What??? Was Bill Power and £1.2M not serious money with business nous?

Are you mad?

[red macca]

I think we are all being a little over critical

As a lower league club we are hardly a gold mine for profit, hence making ends meet is hard enough let alone trying to pay off debts built up from previous years!

Lets face it, unless someone has some serious money and business nouse then the only way we can help is by getting as many people to games as possible and supporting the team!

Unless we do that they have no hope of making ends meet and complaining about it simply wont get any of us anywhere!

IMO

are you taking the piss.the REAL issue here is yet again they have lied to the fans and i promise you this time next week we will have another statement from the wills threatening to leave if we dont stop having a pop at them.let him fuck off for all i care now,everyone keeps going on about how much he has put in the club well this 900k is the most important of the lot and they are telling us they cant even afford 100k of it?

tell me this we recieved around 400k compo for wise which was unexpected and to a certain extent free money why the fuck was a 100k not paid STRAIGHT AWAY to pay this,

WHERE IS THE MONEY GOING

[RobertT]

I think we are all being a little over critical

As a lower league club we are hardly a gold mine for profit, hence making ends meet is hard enough let alone trying to pay off debts built up from previous years!

Lets face it, unless someone has some serious money and business nouse then the only way we can help is by getting as many people to games as possible and supporting the team!

Unless we do that they have no hope of making ends meet and complaining about it simply wont get any of us anywhere!

IMO

Seriously, what planet?

If we had to make sure we paid one bill this year, it was the CVA, being the one that can cause our liquidation if we miss it.

First they claim it's paid.

Now they claim they knew it was missed and it was because they knew we had an overspend.

Look back at previous statement and articles and you'll see they claimed nobody was aware of an overspend until the end of July because Devlin had kept it from SG and the Board.  This contradicts their statement.

So they are telling lies one way or the other which is not about how much or little money they have.

Pay the fucking CVA first, sort out the others bill next, tell the fucking truth.  It's not rocket science.

[Sharky]

I think we are all being a little over critical

As a lower league club we are hardly a gold mine for profit, hence making ends meet is hard enough let alone trying to pay off debts built up from previous years!

Lets face it, unless someone has some serious money and business nouse then the only way we can help is by getting as many people to games as possible and supporting the team!

Unless we do that they have no hope of making ends meet and complaining about it simply wont get any of us anywhere!

IMO

What??? Was Bill Power and £1.2M not serious money with business nous?

Are you mad?

Where is Bill Power? If he was still here there would not be the problem would there we all know that!

The point is he isnt here, no one could have predicted that their plane would have crashed and he would have a re-think about the way he wanted to live his life!

If another Bill Power walked in tomorrow we would be fine and I am confident the board are not as bad as everyone makes out to have been the reason he left, hence if someone else came in their would be no problem.

[stfctownenda]

I think we are all being a little over critical

As a lower league club we are hardly a gold mine for profit, hence making ends meet is hard enough let alone trying to pay off debts built up from previous years!

Lets face it, unless someone has some serious money and business nouse then the only way we can help is by getting as many people to games as possible and supporting the team!

Unless we do that they have no hope of making ends meet and complaining about it simply wont get any of us anywhere!

IMO

All irellevent points in all honesty we are more concerned with the fact they said just a few weeks ago that the CVA payments were all sorted and now were in the shit again because they lied to the fans.  Also the Power investment, plus increased gates etc does not explain why we are struggling so much financially, one thing for sure is something needs to be done and done soon  :shake:

[red macca]

I think we are all being a little over critical

As a lower league club we are hardly a gold mine for profit, hence making ends meet is hard enough let alone trying to pay off debts built up from previous years!

Lets face it, unless someone has some serious money and business nouse then the only way we can help is by getting as many people to games as possible and supporting the team!

Unless we do that they have no hope of making ends meet and complaining about it simply wont get any of us anywhere!

IMO

What??? Was Bill Power and £1.2M not serious money with business nous?

Are you mad?

Where is Bill Power? If he was still here there would not be the problem would there we all know that!

The point is he isnt here, no one could have predicted that their plane would have crashed and he would have a re-think about the way he wanted to live his life!

If another Bill Power walked in tomorrow we would be fine and I am confident the board are not as bad as everyone makes out to have been the reason he left, hence if someone else came in their would be no problem.

if my auntie had bollox she would be my uncle,face facts we have been lied to yet again

[TalkTalk]

Where is Bill Power? If he was still here there would not be the problem would there we all know that!

The point is he isnt here, no one could have predicted that their plane would have crashed and he would have a re-think about the way he wanted to live his life!

If another Bill Power walked in tomorrow we would be fine and I am confident the board are not as bad as everyone makes out to have been the reason he left, hence if someone else came in their would be no problem.

Is your real name Gullible, mate?