New beginnings - Fresh Start

[horlock07]

Would the club not be worth more to someone wanting to sell if it had a redeveloped stadium and was a steady L1 club - although the money to redevelop said stadium has to come from somewhere

Yep, hence why I fear if as many are suggesting Clem is trying to sell now its for negative reasons either for him personally or for the club.

[DMC]

Yep, hence why I fear if as many are suggesting Clem is trying to sell now its for negative reasons either for him personally or for the club.

He isn't trying to sell it

[JanAirplaneMan]

Yep, hence why I fear if as many are suggesting Clem is trying to sell now its for negative reasons either for him personally or for the club.

Can definitely confirm Clem is in this for the long haul and not trying to sell the club..

[ChalkyWhiteIsGod]

Would the club not be worth more to someone wanting to sell if it had a redeveloped stadium and was a steady L1 club - although the money to redevelop said stadium has to come from somewhere

Would have been worth a lot more to Andrew Black if he held on six months and we were in Chanpionship too, but he cut his nose off as he'd had enough.

[BambooToTheFuture]

Would have been worth a lot more to Andrew Black if he held on six months and we were in Chanpionship too, but he cut his nose off as he'd had enough.

Will never understand that decision. Yep lots of money was being spent but from a financial reclamation point of view, Town were as good as going up. To pull the plug halfway through a very successful season was very odd. He could easily have cut and run at the season's end, recouped much more back, left the club on a decent division and definitely attracted buyers with proper wealth. Instead we got the Roar of McRoary and the entrepreneurial nous of Steve Murrall...

//sighs in sombre 'wise men say' vibes\\

It's been done a death though. Can't believe that is over ten years ago now. It's eight EIGHT years since a cried as a grown man [recently out of a long term relationship so I was a mess] at the Wembley deterioration and absolute spanking versus Preston 

[RobertT]

Will never understand that decision. Yep lots of money was being spent but from a financial reclamation point of view, Town were as good as going up. To pull the plug halfway through a very successful season was very odd. He could easily have cut and run at the season's end, recouped much more back, left the club on a decent division and definitely attracted buyers with proper wealth. Instead we got the Roar of McRoary and the entrepreneurial nous of Steve Murrall...

//sighs in sombre 'wise men say' vibes\\

It's been done a death though. Can't believe that is over ten years ago now. It's eight EIGHT years since a cried as a grown man [recently out of a long term relationship so I was a mess] at the Wembley deterioration and absolute spanking versus Preston 

You are missing some very important factors that were likely driving Black.

A quick sale under pressure to complete would mean a significantly less challenging period of Due Diligence by any prospective buyer.  This was not about making a "profit" from any sale, but instead about  stopping the cashflow outwards from his bank balance (even a club in a higher division is going to have some challenges selling when it becomes evident they've created an entirely unsustainable business thanks to massive over spending).

That quick sale not only stopped the cash burn, it also banked a Loss that likely worked out well for the tax period.

I'd wager, pardon the pun, that the buyer was precisely the sort of person/people Black was hoping for.

[Mooneyraker]

You are missing some very important factors that were likely driving Black.

A quick sale under pressure to complete would mean a significantly less challenging period of Due Diligence by any prospective buyer.  This was not about making a "profit" from any sale, but instead about  stopping the cashflow outwards from his bank balance (even a club in a higher division is going to have some challenges selling when it becomes evident they've created an entirely unsustainable business thanks to massive over spending).

That quick sale not only stopped the cash burn, it also banked a Loss that likely worked out well for the tax period.

I'd wager, pardon the pun, that the buyer was precisely the sort of person/people Black was hoping for.

Why would that be?

[RobertT]

Because it got competed quickly and without questions - the wage bill was a mess.  His gesture of writing off a chunk of the debt owed to him shows it was desire to just get the fuck out of dodge as quickly as humanly possible.  Anyone with an ounce of acumen would have taken a bit of a look around the books and thought, hang on a second, I'm going to get rinsed here.

[Mooneyraker]

Because it got competed quickly and without questions - the wage bill was a mess.  His gesture of writing off a chunk of the debt owed to him shows it was desire to just get the fuck out of dodge as quickly as humanly possible.  Anyone with an ounce of acumen would have taken a bit of a look around the books and thought, hang on a second, I'm going to get rinsed here.

I get that but someone reputable 'in the market' for a football club at that time (if such a person exists!) might have taken the view that there was a shitshow of a wage bill for 6 months but also a pretty solid chance of advancing to the Championship.

I don't think Black was vindictive, and I took your wording to mean "he wanted a shyster to buy the club" which felt a tad unfair!

[Legends-Lounge]

I get that but someone reputable 'in the market' for a football club at that time (if such a person exists!) might have taken the view that there was a shitshow of a wage bill for 6 months but also a pretty solid chance of advancing to the Championship.

I don't think Black was vindictive, and I took your wording to mean "he wanted a shyster to buy the club" which felt a tad unfair!

No assets…. Club value? Fuck all. Players value only.

[RobertT]

I get that but someone reputable 'in the market' for a football club at that time (if such a person exists!) might have taken the view that there was a shitshow of a wage bill for 6 months but also a pretty solid chance of advancing to the Championship.

I don't think Black was vindictive, and I took your wording to mean "he wanted a shyster to buy the club" which felt a tad unfair!

No, I meant he wanted a very quick completion, not a sale that took several months to get over the line.

[Mooneyraker]

No assets…. Club value? Fuck all. Players value only.

Nigel Eady passed away in Jan 2012 and had been speaking with Fitton et al for a couple of years before that about his legacy so that was in the offing...

[Legends-Lounge]

Nigel Eady passed away in Jan 2012 and had been speaking with Fitton et al for a couple of years before that about his legacy so that was in the offing...

Talk is cheap. Actions speak louder than words. I’m sorry. Power probably talked to the executors of the Eady trust….

[Mooneyraker]

Talk is cheap. Actions speak louder than words. I’m sorry. Power probably talked to the executors of the Eady trust….

He did and they had his number thankfully. I'm just saying that there was potentially more than zero value to the club to a prospective owner. I'm quite sure it was a factor in Clem's efforts to secure the ownership too.

[horlock07]

No, I meant he wanted a very quick completion, not a sale that took several months to get over the line.

Plus a sale to someone whose interests were only ever in the short term ego trip of being owner and whatever could be bled short term and thus wouldn't much care about the sodding great debentures attached to the club at the sale.