Looks like some bad news - Page 12

cashman · 03-09-2009, 16:33

Quote:

Originally Posted by Whalley Red

Went back to the Evening Telegraph site to look for any more news and saw that yesterday's article had been updated. This was one of the new sections:

"Mr O’Neill, who became chairman in June, said he was investigating why none of the cash had been paid, despite the club staging a photocall for the handover of a £25,000 cheque towards a monthly installment."

Our (Joint) Chairman is now claiming that he thought the taxman had been paid.

That's as believable as expecting to raise tens of thousands of pounds from mid-season friendlies with 'big clubs' or claiming that the eight-week deadline is "actually good news for the playing side because it means that we can start again from a clean slate earlier than we expected."

For once I agree with Councillor Britcliffe: "If the club wants the public to get behind it and support it then they have to up front and honest about what they are doing."

oh my god didn't think this could get any more farcical, but it has.

Outback Ozzy · 03-09-2009, 16:45

I see Salisbury have gone into administration today owing the taxman 200k. Taken an automatic 10 point penalty, but looking for people to buy out the club.

SPUGGIE J · 03-09-2009, 16:57

This might be a madcap idea considering the mentioning of shares being bought, blackmail, seats for life on the board but here goes.

Considering the financial climate and tht of football clubs in the lower leagues then I had this bouncing around in my empty head. ASSF have funds to save the club, but instead of of buying the shares then invest the same way that the dragons do for a cut of any profit. Now concidering what I have said about the finacial state of affairs in the lower leagues then the cut should be put into an emergency fund for the future. This could be if possible outwith the clubs control to avoid it being used elseware. Think of it as banking if you wish with the ASSF members/representative as the bank manager. So if say 2/3 years down the line something goes wrong and not heaven forbid the taxman then the fund can be approached for a financial input for the clubs sake. Ok I am no business law related guy but whay cant it work if a legally binding agreement can be reached. O,neil gets to run it as a business the fans fighting fund aids the club and can be forthcoming with aid in the future.

May not work or be ideal but seems to be in my lowley opinion a far comprimise without any tit for tat aggro. If it is wrong or wouldnt work then fair enough no expert but i hope something along these lines might help both sides without recriminations as both sides want whats best for the club.

Tommy McQueen · 03-09-2009, 18:59

I don't think Ilyas would release the funds unless extra shares were made available.

Redskin · 03-09-2009, 19:37

250k from the ASSF for a 50% controlling stake in a founder member of the football league?, not exactly ASFC at heart, more like a gun to the head!

I hope funds are found independently and allow the current structure to plot the future course!......Best of Luck!

Wynonie Harris · 03-09-2009, 19:48

Quote:

Originally Posted by Redskin

250k from the ASSF for a 50% controlling stake in a founder member of the football league?, not exactly ASFC at heart, more like a gun to the head!

I hope funds are found independently and allow the current structure to plot the future course!......Best of Luck!

Yes, £250K for 50% in a club that owes £308K to the taxman. operates on gates of circa 1,400 and has no assets. Seems like a pretty generous offer to me.

As for them being "not exactly ASFC at heart" you obviously don't know them because you couldn't be more wrong.

The sooner the club accept their offer the better.

Redskin · 03-09-2009, 19:52

I have to disagree!....there is far more than "assistance" being plotted here!...Why the need for the controlling stake?

VALAIRIAN · 03-09-2009, 19:55

Quote:

Originally Posted by Wynonie Harris

Yes, £250K for 50% in a club that owes £308K to the taxman. operates on gates of circa 1,400 and has no assets. Seems like a pretty generous offer to me.

As for them being "not exactly ASFC at heart" you obviously don't know them because you couldn't be more wrong.
The sooner the club accept their offer the better.

Thanks for that WH

Nickelson · 03-09-2009, 20:02

Bury | News | Latest News | Latest News | Can you help Accrington?

And FFS we are not a founder member !,

The club on paper atm is worthless, even without the debt.
The stadium is rented, so the only asset is the squad and they are not worth £250,000.
Whatever stupid price D'ON paid EW is his own fault.

semi-skilled · 03-09-2009, 20:02

Quote:

Originally Posted by Redskin

I have to disagree!....there is far more than "assistance" being plotted here!...Why the need for the controlling stake?

I think it's more control that we need! Control over our financial ineptitude

Redskin · 03-09-2009, 20:03

So please somebody explain to me why the ASSF would not be prepared to accept a 25% stake, thus allowing Mr O'Neill to continue to rebuilding?

Wynonie Harris · 03-09-2009, 20:07

Quote:

Originally Posted by Redskin

I have to disagree!....there is far more than "assistance" being plotted here!...Why the need for the controlling stake?

It's a big chunk of money to hand over so obviously they want something in return for it. I personally would be much happier with them in charge. However, if you consider nelecting to make a vital payment to the HMCR when it's due, a good way to "plot the future course" then so be it!

Nickelson · 03-09-2009, 20:12

Quote:

Originally Posted by Redskin

So please somebody explain to me why the ASSF would not be prepared to accept a 25% stake, thus allowing Mr O'Neill to continue to rebuilding?

Because there are other shareholders who own the remaining 47% (Illyas, Peter Marsden ect.) They would have to sell there shares or dilute them (Which would dilute D'ON).

Redskin · 03-09-2009, 20:15

Quote:

Originally Posted by Wynonie Harris

It's a big chunk of money to hand over so obviously they want something in return for it. I personally would be much happier with them in charge. However, if you consider nelecting to make a vital payment to the HMCR when it's due, a good way to "plot the future course" then so be it!

I have no objection to Mr Khan taking the club, but to allow the club to be run by a Committee is an absolute receipe for further disaster....IMO

Wynonie Harris · 03-09-2009, 20:23

Quote:

Originally Posted by Redskin

I have no objection to Mr Khan taking the club, but to allow the club to be run by a Committee is an absolute receipe for further disaster....IMO

The way I understand it, it wouldn't be run by a committee - the ASSF would appoint its own directors who would work with the existing directors (including the D'on).