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39 minutes ago, GenBr said:

What I don't understand is that to get this far I thought the prospective buyers had to show proof of funds?

One possible answer to that must remain only as a private thought and not be typed or spoken in public

Edited by Coconut
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These announcements now just make me think of someone being scammed by one of those phishing emails. You know, like the one with the stranded astronauts who needs you to find his trip home but once home he will pay you back millions due to the space equivalent of air miles he’s accrued whilst up there.  
They've gone ahead with it and now being told - “great news we’ve managed to secure a shuttle flight back” then “there’s difficulty finding a launch time that corresponds with the space station being at the right point of orbit”, “launch time secured, will be by the end of the month”, “launch date put back due to weather conditions as you can imagine this is a complicated process but everything is on track”, “the space station needs to urgent repairs so they need to help and stay there for another month, which is causing an unexpected delay”, etc,etc

The only thing that puzzles me is what’s in it for BZI? What do you get from all of this?

None of the previous statements really hold up in my opinion, the whole idea that funds have been sent but yet to appear in the lawyers account almost a month later. Hmmm. Really?!

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12 minutes ago, GenBr said:

Wigan local news did a good summary. Looks like basically anyone can be an owner, as long as they can convince the EFL that they don't lack integrity...

 

Preventing anyone who holds a criminal record from owning a club or being a director.

Making sure those in charge of clubs have the long-term interests of the business.

Ensuring those who own or direct a club do not lack integrity

How does a person fail the test?

The EFL have outlined a number of ‘Disqualifying conditions’ which would see a person fail the test. These could be:

If there is an association between two clubs. “Either directly or indirectly being involved in, or having the power to determine or influence, the management or administration of another Football League Club or Premier League Club”.

Being subject to a suspension or ban or other form of disqualification. This can be involvement in the administration of another sport by a sports governing body or by a professional body, such as The Law Society.

A failure to provide all relevant information or providing false or misleading information.

Having found to have breached betting rules on matches in England and Wales.

Having an unspent conviction for a dishonest act, corruption, perverting the course of justice, ticket touting, corruption or more.

Been or still on the Register of Sex Offenders

Been declare bankrupt

Been a relevant person at at least two football clubs that have been subject to or suffered unconnected insolvency events.

Been a relevant person at one football club that has suffered two unconnected insolvency events.

Found to be unlawful to act as a director of a UK-registered company

Thanks for the reply, great summary. In view of what happened at Wigan I found this part particularly jaw-dropping:

"Making sure those in charge of clubs have the long-term interests of the business"

But with this in mind did the EFL still punish the club (and its innocent fans)? Of course it did! 

 

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1 minute ago, dcfc4ever said:

Just putting it out there.....could Mel float the club on stock exchange and we become a PLC.Gives our fan base a chance to own shares in the club and good injection of cash

Yeh I'm guessing he could put us up on a penny stocks market

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8 minutes ago, dcfc4ever said:

Just putting it out there.....could Mel float the club on stock exchange and we become a PLC.Gives our fan base a chance to own shares in the club and good injection of cash

If I bought the lot could be tempted. Let fans invest small amounts so they feel part of things. Publish statutory accounts. Also though a paper explaining the figures in lay terms. Would start club afresh, own all the assets, no debts. But run on a commercial basis thereafter. Maybe the occasional limited injection of cash, maybe help with cashflow.

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4 hours ago, GenBr said:

...then we can't pay the players for a second year in a row...

 

Just in case anyone on the outside is reading this thread, may I just clarify that our players do not get paid annually.

Apparently, they get paid monthly, and up until last week, two out of the latest 13 months never got paid on time.  (Prior to that period, it is assumed all monthly wages were paid on time, during the current owners tenure).

Since Jan 15th, it could be argued that we are now looking at 3 months out of the last 14 that are/were late.  As the first has long since been settled, worst case scenario is that we are now looking at two months still owing.

Just hope nobody thinks they are owed two years salary!  😲 

😉🐏

 

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22 minutes ago, Olton Ram said:

Thanks for the reply, great summary. In view of what happened at Wigan I found this part particularly jaw-dropping:

"Making sure those in charge of clubs have the long-term interests of the business"

But with this in mind did the EFL still punish the club (and its innocent fans)? Of course it did! 

 

I've no idea how you prove someone doesn't lack integrity either. If whoever is trying to buy a club doesn't immediately offer a bribe is that good enough to prove your integrity? 

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2 minutes ago, Mucker1884 said:

Just in case anyone on the outside is reading this thread, may I just clarify that our players do not get paid annually.

Apparently, they get paid monthly, and up until last week, two out of the latest 13 months never got paid on time.  (Prior to that period, it is assumed all monthly wages were paid on time, during the current owners tenure).

Since Jan 15th, it could be argued that we are now looking at 3 months out of the last 14 that are/were late.  As the first has long since been settled, worst case scenario is that we are now looking at two months still owing.

Just hope nobody thinks they are owed two years salary!  😲 

😉🐏

 

I'm sure I've read, but cba to find, something that says that it's 'only' the senior players and executives that haven't been paid in December which suggests that all the rest - academy staff/more junior players/medical team and the like were paid.

I've also read somewhere, but CBA to find, some comment that suggested that the unpaid money relates to the deferment in salary that the players took back in the summer when the first effects of Covid were being felt which was something like 50% of their salary I think - it would seem feasible that the PFA negotiated a 6 month deferment period running from June to December on the basis that the reasonable expectation back in June was that fans would be back in grounds by Christmas.

I have no idea whether any of that is true or just me reading between the lines.  Whatever it is will mount up to large amounts of cash and perhaps be causing some discussions with those involved, never mind BZI.  The PFA, of course, were against any reductions in salary even on a short term basis; I would imagine that the EFL will interpret any non-payment as reason for an embargo, whether it's backdated pay or regular wage.

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49 minutes ago, dcfc4ever said:

Just putting it out there.....could Mel float the club on stock exchange and we become a PLC.Gives our fan base a chance to own shares in the club and good injection of cash

It’s a brilliant idea - just imagine the annual shareholder meetings. Would be like that T Party arranged by Trump in Washington a couple  of weeks back 

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1 hour ago, dcfc4ever said:

Just putting it out there.....could Mel float the club on stock exchange and we become a PLC.Gives our fan base a chance to own shares in the club and good injection of cash

Potentially a very good idea. We'd need a majority owner though to help cover losses. Mel himself maybe. Fans obviously can invest. Probably get the likes of Gadsby involved again. But I think the main benefit is that it would allow some of these 80 or so interested parties to take a minority stake. Up to 5%, so they don't have to even declare. 

It's all down to Mel's strategy regarding the stadium. Needs to increase advertising and sponsorship revenue and upgrade the facilities to put on non footballing events asap. If done right, he can make a nice profit every year. Profits that he can himself re-invest back into the football club. 

Maybe this is the bigger picture. He's found that it's too demanding to run the club and turn Pride Park into a venue at the same time. It's a real shame regarding timing as the he could have spent 18 months upgrading the stadium. Because since March last year, we could have played anywhere else. 

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1 hour ago, Finch said:

Bunch of tyre kickers. 

These tossers are worse than tire kickers.  These lot are the type who'd have the engine running for 20 minutes while they check on the bonnet, pull the carpets back in the boot, take it for a 30 minute test drive, then tell you to go and dig out all the service history whilst they go and call their bank only never to return, leaving you a tenner down on your petrol...

Edited by ramsbottom
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1 hour ago, bimmerman said:

Won't be exeter-their fan owned by a trust. Very stable trust as well that continue to fund the club through the pandemic 

Would you like RamsTrust to own us and keep us as a stable mid-table League 2 side?

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47 minutes ago, Uptherams said:

Potentially a very good idea. We'd need a majority owner though to help cover losses. Mel himself maybe. Fans obviously can invest. Probably get the likes of Gadsby involved again. But I think the main benefit is that it would allow some of these 80 or so interested parties to take a minority stake. Up to 5%, so they don't have to even declare. 

It's all down to Mel's strategy regarding the stadium. Needs to increase advertising and sponsorship revenue and upgrade the facilities to put on non footballing events asap. If done right, he can make a nice profit every year. Profits that he can himself re-invest back into the football club. 

Maybe this is the bigger picture. He's found that it's too demanding to run the club and turn Pride Park into a venue at the same time. It's a real shame regarding timing as the he could have spent 18 months upgrading the stadium. Because since March last year, we could have played anywhere else. 

Stadium strategy why club and stadium ownership should be together. What do you think the priorities for upgrading the stadium should be. Capacity increase, commercial development around the edges, etc.

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37 minutes ago, Philmycock said:

Would you like RamsTrust to own us and keep us as a stable mid-table League 2 side?

Interesting point. No subsidies, where would Derby fit. L2 a little harsh. Maybe L1. C probably requires subsidies, think even 'safe' teams like Middlesbrough/Preston have some owner subs. Others of course gamble to get PL, or not...

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