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Post by Kingswood Polak on Apr 7, 2022 10:16:45 GMT
Would you buy a house that had a charge against it ? In the unlikely situation that Wael sold up, who would even think of it Wael bought it with the MSP charge hanging over us, far more serious than this. Geoff Dunford via Deltavon had a charge in place for years. I think you will find the family bought the club by paying the debts of directors and MSP. Not a penny more. Cheap eh. Seems Mr Higgs was just happy to get his money back
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Post by CrispPusher on Apr 7, 2022 10:23:56 GMT
Wael bought it with the MSP charge hanging over us, far more serious than this. Geoff Dunford via Deltavon had a charge in place for years. I think you will find the family bought the club by paying the debts of directors and MSP. Not a penny more. Cheap eh. Seems Mr Higgs was just happy to get his money back Should think himself bloody lucky, something the Al Qadi's won't ever do, Higgs saddled the club with a short term loan to buy time to palm it off on to some other suckers. Higgs was a detestable little man.
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Post by bushlander on Apr 7, 2022 10:25:47 GMT
With respect, I think you need to explain exactly what you mean by ‘doing a Dunford’? Both Denis and Geoff did an awful lot for our football club, both have sadly passed on now, but much like Wael today it is my opinion we would not have survived the 80’s without the Dunford family and of course Denis’s hard work and financial input. Geoff was instrumental in us owning our own stadium again, without which we also may not have survived. They have more than earned both our respect and their place in Rovers history 💙 Absolutely right. Geoff Dunsford's role should never be underplayed. He realised that if we stayed at Bath too long then we would lose our identity and so deliberately made us homeless so that Bristol City Council had no choice other than to agree a ground share with the rugby club. They were not wealthy people compared to the present owners of football clubs generally and kept us going on a shoestring and deserve credit for doing so This. I think the Dunfords deserve an infinite amount of respect and thanks from us fans. Won't tolerate a negative word said about them. I also get frustrated with the negative comments about Higgs. Yes, it all ended in a mess with regard to the stadium and debts. However, the guy is a gashead, he wanted the best for us. He pushed harder than anyone has for a new stadium. At least there were plans under him. Please think before you slate the guys who have kept us afloat.
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Post by Kingswood Polak on Apr 7, 2022 10:27:01 GMT
Would you buy a house that had a charge against it ? In the unlikely situation that Wael sold up, who would even think of it If Wael sold up whoever bought the club would seek to have the charge removed as part of the deal, as always the case when anybody buys a house which as a charge on it from their mortgage co or bank. Why do you and your mates on the other forum, SwissGas/Knowall etc, always seem to have a deep mistrust in Wael's motives, what's he got to do to prove he has Rovers best interest at heart? Not just him, anyone who runs a business, i always do checks before i buy or sell.
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Post by yattongas on Apr 7, 2022 10:30:27 GMT
Could you buy a house with a charge on it….. is that possible as the debt is with the owner ? Yes, so long as you make arrangements, prior to purchase, to pay the debt and the same applies with the mem. The debt is to him and his family, its now clear that Hani IS still involved if you read the accounts. He guarantees, again, to carry on paying the debts for another 12 months Hani still retaining a small stake (10%?) is common knowledge I thought.
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Post by Kingswood Polak on Apr 7, 2022 10:32:36 GMT
Yes, so long as you make arrangements, prior to purchase, to pay the debt and the same applies with the mem. The debt is to him and his family, its now clear that Hani IS still involved if you read the accounts. He guarantees, again, to carry on paying the debts for another 12 months Hani still retaining a small stake (10%?) is common knowledge I thought. I thought it was all Wael tbh and especially after all the changes
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Post by stuart1974 on Apr 7, 2022 10:36:43 GMT
Wael bought it with the MSP charge hanging over us, far more serious than this. Geoff Dunford via Deltavon had a charge in place for years. I think you will find the family bought the club by paying the debts of directors and MSP. Not a penny more. Cheap eh. Seems Mr Higgs was just happy to get his money back That doesn't affect the issue of the charge though. It looks as though ITB on the other forum has addressed that too. There are plenty of things to be concerned about regarding our finances, the charge is way down the list.
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Post by Kingswood Polak on Apr 7, 2022 10:37:38 GMT
I think you will find the family bought the club by paying the debts of directors and MSP. Not a penny more. Cheap eh. Seems Mr Higgs was just happy to get his money back That doesn't affect the issue of the charge though. It looks as though ITB on the other forum has addressed that too. There are plenty of things to be concerned about regarding our finances, the charge is way down the list. So long as our owner stays then it is not a concern, not at all
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Post by peterparker on Apr 7, 2022 10:39:38 GMT
Hani still retaining a small stake (10%?) is common knowledge I thought. I thought it was all Wael tbh and especially after all the changes the key word at the time was controlling stake “Club resident Wael Al Qadi has reached agreement for the acquisition of a controlling stake in our holding Company Dwane Sports from the other members of his family. This provides him with full control over Bristol Rovers (1883) Limited (BRFC1883) and Bristol Rovers Football Club Limited(BRFC)
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Post by Kingswood Polak on Apr 7, 2022 10:40:31 GMT
I thought it was all Wael tbh and especially after all the changes the key word at the time was controlling stake “Club resident Wael Al Qadi has reached agreement for the acquisition of a controlling stake in our holding Company Dwane Sports from the other members of his family. This provides him with full control over Bristol Rovers (1883) Limited (BRFC1883) and Bristol Rovers Football Club Limited(BRFC) Fair comment. That clears that up, thank you
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Post by stuart1974 on Apr 7, 2022 10:45:17 GMT
Hani still retaining a small stake (10%?) is common knowledge I thought. I thought it was all Wael tbh and especially after all the changes Samer retained 10%, Wael bought up the other shares to take a controlling stake. Just because Hani no longer has shares doesn't mean he doesn't have a role with Dwane Sports.
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Post by yattongas on Apr 7, 2022 10:47:04 GMT
I thought it was all Wael tbh and especially after all the changes Samer retained 10%, Wael bought up the other shares to take a controlling stake. Just because Hani no longer has shares doesn't mean he doesn't have a role with Dwane Sports. Thanks for correcting, sorry it was his brother . I forget the names ! 😂
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Post by Deleted on Apr 7, 2022 12:24:12 GMT
I thought it was all Wael tbh and especially after all the changes the key word at the time was controlling stake “Club resident Wael Al Qadi has reached agreement for the acquisition of a controlling stake in our holding Company Dwane Sports from the other members of his family. This provides him with full control over Bristol Rovers (1883) Limited (BRFC1883) and Bristol Rovers Football Club Limited(BRFC) Strange then that the auditors insist on Hani being the family member to guarantee the clubs finances for the next twelve months from the end of June last year once again. That's two years running since Wael was reported to have taken control. Maybe it's just a simple typo but a significant one.
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Post by peterparker on Apr 7, 2022 12:35:27 GMT
the key word at the time was controlling stake “Club resident Wael Al Qadi has reached agreement for the acquisition of a controlling stake in our holding Company Dwane Sports from the other members of his family. This provides him with full control over Bristol Rovers (1883) Limited (BRFC1883) and Bristol Rovers Football Club Limited(BRFC) Strange then that the auditors insist on Hani being the family member to guarantee the clubs finances for the next twelve months from the end of June last year once again. That's two years running since Wael was reported to have taken control. Maybe it's just a simple typo but a significant one. i wouldn't be at all surprised if much of the accounts are a copy and paste with just the numbers changed
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Post by stuart1974 on Apr 7, 2022 12:40:59 GMT
Strange then that the auditors insist on Hani being the family member to guarantee the clubs finances for the next twelve months from the end of June last year once again. That's two years running since Wael was reported to have taken control. Maybe it's just a simple typo but a significant one. i wouldn't be at all surprised if much of the accounts are a copy and paste with just the numbers changed Me neither, even if he did retain a role it's still Wael in charge (see what I did there 😉). Unfortunately it doesn't prevent some, including those who should know better, from speculating.
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Post by baggins on Apr 7, 2022 12:51:36 GMT
i wouldn't be at all surprised if much of the accounts are a copy and paste with just the numbers changed Me neither, even if he did retain a role it's still Wael in charge (see what I did there 😉). Unfortunately it doesn't prevent some, including those who should know better, from speculating. Just happy Wael keeps us going to be honest. Accounts are fine, but as long as he keeps being generous with his wealth and in return I'm more than ok paying for my Season Ticket every year, I'm a cheerful Gashead.
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Post by aghast on Apr 7, 2022 16:54:14 GMT
the key word at the time was controlling stake “Club resident Wael Al Qadi has reached agreement for the acquisition of a controlling stake in our holding Company Dwane Sports from the other members of his family. This provides him with full control over Bristol Rovers (1883) Limited (BRFC1883) and Bristol Rovers Football Club Limited(BRFC) Strange then that the auditors insist on Hani being the family member to guarantee the clubs finances for the next twelve months from the end of June last year once again. That's two years running since Wael was reported to have taken control. Maybe it's just a simple typo but a significant one. Do the auditors insist? It's not up to them. They are an outside organisation with no direct connection to the club. It's up to the club to provide the funds and evidence they will do so, and then the auditors will sign off the accounts on the basis of the club being a going concern. They could also sign off the accounts if we were £100m in debt, so long as they are a fair and true reflection of our finances. The auditors don't choose who funds the club. They just report on who has.
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Post by Topper Gas on Apr 7, 2022 18:00:10 GMT
Strange then that the auditors insist on Hani being the family member to guarantee the clubs finances for the next twelve months from the end of June last year once again. That's two years running since Wael was reported to have taken control. Maybe it's just a simple typo but a significant one. Do the auditors insist? It's not up to them. They are an outside organisation with no direct connection to the club. It's up to the club to provide the funds and evidence they will do so, and then the auditors will sign off the accounts on the basis of the club being a going concern. They could also sign off the accounts if we were £100m in debt, so long as they are a fair and true reflection of our finances. The auditors don't choose who funds the club. They just report on who has. I assume the accountants wouldn't sign them off unless they had some proof Hani had the funds, and that he was also the correct person to be making that decision.
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Post by peterparker on Apr 8, 2022 9:55:01 GMT
Strange then that the auditors insist on Hani being the family member to guarantee the clubs finances for the next twelve months from the end of June last year once again. That's two years running since Wael was reported to have taken control. Maybe it's just a simple typo but a significant one. Do the auditors insist? It's not up to them. They are an outside organisation with no direct connection to the club. It's up to the club to provide the funds and evidence they will do so, and then the auditors will sign off the accounts on the basis of the club being a going concern. They could also sign off the accounts if we were £100m in debt, so long as they are a fair and true reflection of our finances. The auditors don't choose who funds the club. They just report on who has. i have attached a different example from another clubs accounts. If ours said similar hardly anybody would say anything (although some would probably argue about the ambiguity of where the finance is from) City's for instance say they are funded by PULA and the ultimate owner is Steve Lansdown (so clear where the finance comes from) As I said earlier, I suspect most of ours are copy and paste and haven't been reworked
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Post by peterhooper57 on Apr 8, 2022 10:16:59 GMT
Big thank you goes out to Wael, doesn't have to bank roll Rovers but does. What a legend.
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