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DRS
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« Reply #195 on: Thursday, January 17, 2013, 13:20:46 » |
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That may have been the order in which it happened on the radio but that doesn't mean Wray/Fitton weren't the original sauce.
Fuking hell Paul,bit of a hunch isn't it |
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horlock07
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Lives in Northern Bastard Outpost
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« Reply #196 on: Thursday, January 17, 2013, 13:22:15 » |
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That may have been the order in which it happened on the radio but that doesn't mean Wray/Fitton weren't the original sauce.
This was the point I was trying to make, its hardly good journalism to base a story on only one source, a source that has a commercial interest and potentially an axe to grind. |
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jonny72
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« Reply #197 on: Thursday, January 17, 2013, 13:23:25 » |
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That percentage breakdown is interesting as it suggests that Black only would have around 46% of shares whilst it has been suggested elsewhere that he has 95% - Any ideas.
Not sure the actual share holdings are that important, but like arguing about who owns a dog turd - it's worthless so what's the point. Though you could get the shareholder lists from companies house which would confirm the actual figures, though you'd need to look at the club and the holding company to get the real figures. |
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BruceChatwin
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« Reply #198 on: Thursday, January 17, 2013, 13:24:02 » |
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Simon Pieman
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« Reply #199 on: Thursday, January 17, 2013, 13:25:51 » |
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The consortium bought shares in the holding company. The holding co then lent this to the club.
4 years of ownership is a very different proposition to what was suggested upon purchase (5 year plan anyone?). Obviously we're not paddling up the brown creek just yet, but if Black did pull the plug today we would be.
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jonny72
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« Reply #200 on: Thursday, January 17, 2013, 13:27:00 » |
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I thought when they took over that they were going to write off that debt and take the hit themselves? So does that mean, as it stands, they haven't actually spent in a literal way any of their own money and as a club we have just as much debt as we started with when they took over plus another £5 million?
They own the holding company, the holding company loaned the initial money (£8m) to the club so it could pay off its debts and the club still owes that money to the holding company. They haven't actually given any money away, they've just loaned it to the club and whilst they've got fuck all chance of getting it back they are still owed it. And yes, the club still have the original debt and another £5m on top. Most people may have laughed at the plight of Portsmouth and other clubs in a similar position, but we've actually been in pretty much the same state as them all along. |
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jonny72
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« Reply #201 on: Thursday, January 17, 2013, 13:29:24 » |
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Fan ownership is the way forward, provided the fans accept and acknowledge that the club has to live within it's means - for us this would mean cutting our wage bill in half (say £4m to £2m). Would the fans accept a lower quality of player and a possible free fall through the leagues? Now might be the time to make it happen. Got to be a possibility that the current owners would hand over control to the fans and write off a lot (or all of) the debt at the same time to make it a viable option. |
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« Last Edit: Thursday, January 17, 2013, 13:30:56 by jonny72 »
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GoSWINDON
Making the best out of the little I have.
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going for a poo see you in two
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« Reply #202 on: Thursday, January 17, 2013, 13:34:33 » |
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Yea, I've just set him straight.
Utter shit from him
whats that fucking halfwit been saying mate? |
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If I Don't See You Through Week, I'll See You Through Window
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Flashheart
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« Reply #203 on: Thursday, January 17, 2013, 13:35:37 » |
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This only serves to heighten my dislike of the press
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pauld
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« Reply #204 on: Thursday, January 17, 2013, 13:36:17 » |
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Fuking hell Paul,bit of a hunch isn't it
Not really. The BBC didn't just pluck this out of thin air, they got it from somewhere. Which of the protagonists it came from is kind of immaterial tbh. |
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Simon Pieman
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« Reply #205 on: Thursday, January 17, 2013, 13:39:51 » |
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Secured against the clubs league share or vote or whatever they call it which I assume has a value along with the value of the ground lease and good will I suppose.
That percentage breakdown is interesting as it suggests that Black only would have around 46% of shares whilst it has been suggested elsewhere that he has 95% - Any ideas.
Black 94.55%, Fitton 2.57%, Arbib 2.02%, Wray 0.86% according to latest records. There has been further investment/issue of shares since the original. |
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pauld
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Absolute Calamity!
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« Reply #206 on: Thursday, January 17, 2013, 13:43:14 » |
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This quote from the Wrexham guy seems especially germane: It is fine when the benefactor is signing cheques, and supporting the club, but if that benefactor decides he is bored with the project, or he passes away, where do we go from there? |
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sonicyouth
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« Reply #207 on: Thursday, January 17, 2013, 13:43:40 » |
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Not really. The BBC didn't just pluck this out of thin air, they got it from somewhere. Which of the protagonists it came from is kind of immaterial tbh.
it was you wasn't it? |
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Paolo69
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« Reply #208 on: Thursday, January 17, 2013, 13:43:58 » |
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Not really. The BBC didn't just pluck this out of thin air, they got it from somewhere. Which of the protagonists it came from is kind of immaterial tbh.
The only facts reported in the article are that we're technically in debt £13 million and that the Chairman wants out. I'm pretty sure the last published accounts showed this level of debt so this could have been reported at any point since then. Why Chris Wise has waited until now i don't know. The only new information i have gleaned from today is that there is a board meeting on Saturday. Maybe he heard that, put two and two together and came up with a sensationalist article incorporating the dreaded "A" word. |
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jonny72
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« Reply #209 on: Thursday, January 17, 2013, 13:44:03 » |
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Black 94.55%, Fitton 2.57%, Arbib 2.02%, Wray 0.86% according to latest records.
There has been further investment/issue of shares since the original.
What are those figures based on? Ownership of the club, the holding company, or both? |
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