Quote:
Originally Posted by maccawozzagod
Ilyas can do what he wants as far as the share issue is concerned because (and I can't remember the jargon and aint got the paper in front of me) the loans he made to the club were agreed and signed off as 'convertible' to equity. It is (apparently) legally binding and he can convert the loans (thus making the club free of its debt to him) into the agreed (at a Directors and shareholders meeting) 200,000 shares at the drop of a hat. That would make him the 66% major shareholder and Eric/Don would own 51% of the remaining 33%. Peter Marsden has also agreed the same.
That will be why the club wont make a statement until their legal team has formally told them that they have sold themselves down the river (allegedly).
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I sincerely hope this statement and it's implications are fact, for that, I hope, would spell the end for the Don and the cardboard millionaire. The arrogance of these two,whichever of the two who claims to be majority shareholder, is truly astounding.
Idly, they both stood by, this time last year, while the club came within hours of folding, again. Like the emperor Nero, who reportedly played his fiddle while Rome burned, one fed us all with lies whilst the other lurked in the shadows.
Alas, our shining knights rode to the high court with the capital to vanquish the taxman and thankfully save the club.
Now the decent thing to do, at that point, would have been for both of them to do the honourable thing; and fall upon their own swords. But the events and subsequent supposed power struggle between the two has hung over the club like an eternal fog that just doesn't seem to want to shift.
NEITHER O'Neill or Whalley have the club's or fans best interests at heart; and seemingly like preverbial parasites; are both determined to dig in deeper than a tick on a hound and try to cling on to some sort of power; and O'Neill says he isn't prepared to resign or step aside " unless he is sure that Illyas Khan's plans are in the clubs best interests"
Whalley lied when he made the statement about "stepping aside as soon as he got the club back to the football league." Did he not say upon our return to the league, that he would step aside to somebody who would take the club forward, who had the financial clout to take the club to the next level, or did I dream that ??? He clung to power for three years, before disappearing into the shadows allowing for another liar to take his place at the helm.
O'Neill upon arriving at the helm, then openly admitted
HE didn't have the financial clout to provide substantial investment. Quite possibly one of only a few true statements the man has ever uttered.
I don't doubt that without Whalley, the club would have probably not reached the league; and for his effort and financial backing during that time (i.e the rise up through non-league) I'm sure we were and will continue to be grateful.
O'Neill's current actions smack of the last struggles of a desperate man, drowning and clutching for straws to try and keep his powermongering ambition afloat.
NEITHER O'Neill or Whalley have the financial clout or intention to provide the investment that our generous benafactor has and ( hopefully) will continue to provide.They both cling to the idea that despite standing idly by while the club nearly went bust again, they can either stay in power at the helm, or in Whalley's case get a good deal for a shareholding that would have been worthless but for Mr Khan and Mr Marsden's actions and financial inputs this time last year
Mr Khan has at least outlined his vision on how he sees the club's future progress. He has in the past (and I sincerely hope he will in the future) offered substantial revenue to keep the club afloat. He has also outlined his plan to help fund a new stadium to help the clubs progression. Could either of these two provide that sort of input / assistance????
If you're both reading this Messrs Whalley & O'Neill, reach for your swords and do the honourable thing. Step aside and allow the club to move onwards and upwards.