Looks like some bad news - Page 10

Wynonie Harris · 03-09-2009, 06:03

Quote:

Originally Posted by shakermaker

Surely the ASSF realise that a fresh share issue is completely unfair on the club's new chairman and it was only a realistic prospect while Eric Whalley was still the one at the helm

Well, apparently they don't if you read Macca' posts, way back at the start of this thread. The way he tells it, just such a deal was on the table. And, quite frankly, I don't want to take a massive gamble on the future of our club over the next eight weeks while we agonise about what's "fair" and "unfair" on the D'on. I like what the bloke's done for the club in many respects over the last few weeks, but I think he should swallow his pride now for the general good of the club and accept the ASSF's offer...NOW!!

mab · 03-09-2009, 06:36

Just athought Accrington Stanley Official Supporters Club have a paypal account which can be accest throught the fishy site.Could this be used for anyone wanting to help the club through the Supporters Club

Stanleymad · 03-09-2009, 08:13

that would mean a supporters club meeting being brought forward as not meeting with everyone interested till a week monday atm & i dont know whether that would be feesable or not.

Outback Ozzy · 03-09-2009, 09:17

Quote:

Originally Posted by ukcowboy

Shaker, ASSF Ltd did put money in three weeks ago to the tune of £25k, this was given as a 'short term loan' to help with the tax bill. The club has not paid ANY tax as was agreed,and if ya believe Rob Heys statement then well, sorry but foolish!........this money has NOT been accounted for.

ASSF Ltd had a meeting some time ago now with representatives of the club including Don and Rob, where we were assured that we would recieve a breakdown of all financial details/debts etc..............we are still waiting!

I for one would not blame Ilyas one bit if He wanted 'concrete assurances', backed up with a legal commitment on behalf of BOTH parties before putting anymore monies in.

I dont mean to sound negative, but at this moment in time the club has to make a move and quickly.

Pete, point one (red) How do we know the club has not paid the taxman? I was under the impression from the June hearing that we had to pay in installments and a further hearing was to be held in September - i.e. yesterday. I know the figure mentioned i.e £308k is more than the original, but I refer to my previous post of yesterday when I said is this £300k less £50k plus any tax owed to date or as you replied interest?

Point 2 (blue) - The club are definitely to blame for this one!

Point 3 (green) - I totally agree with this statement, no businessman with any acumen would want concrete assurances. I personally think the only way Ilyas would put the money in is for a hostile takeover of the whole business and put in his own chairperson, i.e. the nominated representative of the ASSF.

Point 4 - I am certain every like minded person who is involved (not directors/chairpersons) wants this to happen and happen now in 8 weeks time when it will be too late.

Wynonie Harris · 03-09-2009, 09:43

Would like to hear some sort of official statement from Ilyas and/or the ASSF about their take on the situation...or are things going on behind the scenes?

maccawozzagod · 03-09-2009, 10:24

things are going on behind the scenes Wynonie, many conver.
sations, phone calls, emails etc are flying about between many people. Some of it is hot air, some of it is ideas and some of it will be serious attempts at dialogue. It would be impossible to detail of this and probably unfair on folk as well (as I said, some of it is just ideas)

To clarify the situation with ASSF and the 250k;
ASSF has not got any money of its own at this point. Until yesterday we were working on the premise that the club had 12 months to get its s h i t in order. The share issue was on the back burner and was no longer important to us. What was important was to spend the foreseeable future fundraising in a manner where we could probably invest a large sum of moneyh in whatever way shape or fashion we deemed important (ie ground sponsorship for example). The only money we have is a pledged £250,000 from Ilyas conditional on a share issue. Should that arise then we have the money ready to be transferred from Ilyas to ASSF to ASFC.

We all accept that a share issue is unfair on The Don and any other shareholders as it would reduce their shareholding from x% to half or a quarter of x%. Here's the basic, laymans maths on the situation. The shares have a nominal value of £100,000 and there were 100,000 issued way back in the day (John Alty era). You can sell them for whatever price somebody will pay. All the shares were taken up AND THERE ARE NO SHARES AVAILABLE. So ASSF can only put money in to take up shares but it has to be a re-issue to create new shares. YES this dilutes existing share value but at the moment they are worth next to nothing (failing business model with no assets of any real value) - so 52% of nowt or 13% of a company that owes nowt and hopefully is a profitable business?

There has to be a way found where exisiting shareholders can 'buy back' their shareholding but then they would have used ASSF funds for personal gain - which can't be allowed to happen.

But the one thing you can be sure of is that everyone of is a Stanley fan and we share the pain and anguish, we share the worries and the misgivings, and we share the anger and the frustration. Each and every one of us is working to find a solution

Wynonie Harris · 03-09-2009, 10:40

OK, cheers for that, mate.

Fourth official · 03-09-2009, 10:47

So we are saying that if he doesn't get anything in return he is prepared to see the club fold? Presumably for all his previous investments in the club,he hasn,t seen any return due to the mis management of the previous owner.Now under D O'neill everyone says things are changing,more professional etc, so if the money was loaned and paid back when the football club is on an even keel.

cashman · 03-09-2009, 11:10

cheers rob, that says to me going off ya saying "until yesterday the ASSF were working on the premise the club had 12 months to get things in order" this new "Open n Upfront" Club obviously had told the ASSF sod all.

maccawozzagod · 03-09-2009, 11:11

i dont know mate you'd have to ask him that.

I wouldn't have thought he'd let the club fold though. But it could well be that he (or anyone else would wait until the wolves were through the door and then buy the club for a knock down fee? don't jump on that statement though because that is only me saying that is what I'd do - why would anyone else put A LOT of money into saving somebody elses business?

That's the problem with football innit? we see the club as our club, but the Chairman/owners see it as their business - and legally it is. It's strange how fans feel compelled to give of their time and money to assist a football club - yet people don't do the same for their local hardware shops? I'll never understand football!

maccawozzagod · 03-09-2009, 11:11

Quote:

Originally Posted by cashman

cheers rob, that says to me going off ya saying "until yesterday the ASSF were working on the premise the club had 12 months to get things in order" this new "Open n Upfront" Club obviously had told the ASSF sod all.

yep