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Post by Topper Gas on Sept 12, 2015 15:04:46 GMT
I'd rather a **** stadium with the security of ownership than a great stadium where we can be kicked out at any time. Me to. He didn't say what the plan b was apart from the fact it involves selling the mem. Sounds like they have another supermarket lined up as he said to 20men that they wouldn't need planning permission. Or was NH referring to pp for the UWE, I couldn't understand why 20men didn't follow that answer up? Plan B sounds to be the story broke by Vital if NH has already been in talks with the parties involved? Anyway for a pleasant change it was a good positive interview by NH.
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Post by lulworthgas on Sept 12, 2015 15:21:21 GMT
Me to. He didn't say what the plan b was apart from the fact it involves selling the mem. Sounds like they have another supermarket lined up as he said to 20men that they wouldn't need planning permission. Or was NH referring to pp for the UWE, I couldn't understand why 20men didn't follow that answer up? Plan B sounds to be the story broke by Vital if NH has already been in talks with the parties involved? Anyway for a pleasant change it was a good positive interview by NH. I thought that but he must have been referring to the mem site as it's clear he has planing in frenchay
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Post by Topper Gas on Sept 12, 2015 18:33:41 GMT
Still didn't make sense to me as surely Waitrose etc won't be happy to pay millions to build a store based on Sainsbury's plans rather than their own plans?
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Post by Feeling The Blues on Sept 12, 2015 21:01:35 GMT
Still didn't make sense to me as surely Waitrose etc won't be happy to pay millions to build a store based on Sainsbury's plans rather than their own plans? Twentypence failed to clarify what Higgs meant by planning permission being in place. However if he did mean the supermarket then theire will be a massive cost saving for a rival that wanted to take on the Sainsburys PP. They won't be paying what Sainsburys were going to pay though hence Plan B rather than A.
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Post by seanclevedongas on Sept 12, 2015 23:04:23 GMT
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Post by Severncider on Sept 13, 2015 16:25:02 GMT
Sounded promising in that their is a plan b for the uwe funding and that they are in the process of restructuring the msp loanI am staggered that no-one has picked up or commented on this point.
Any renegotiation CANNOT be from a position of any strength and I can only assume that MSP will be better off and us worse off following any restructuring.
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Post by Deleted on Sept 13, 2015 16:52:27 GMT
Sounded promising in that their is a plan b for the uwe funding and that they are in the process of restructuring the msp loanI am staggered that no-one has picked up or commented on this point.
Any renegotiation CANNOT be from a position of any strength and I can only assume that MSP will be better off and us worse off following any restructuring.
Personally I gave up on BOD and financial stuff after last court case. Its nothing but bad news in repeat.
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Post by Topper Gas on Sept 13, 2015 16:59:26 GMT
Sounded promising in that their is a plan b for the uwe funding and that they are in the process of restructuring the msp loanI am staggered that no-one has picked up or commented on this point.
Any renegotiation CANNOT be from a position of any strength and I can only assume that MSP will be better off and us worse off following any restructuring.
But what else can the BoD do w/o Sainsbury's ever paying up? NH explained the BoD had to take out a loan asap once Barclay's pulled out plus we all supported taking legal action against Sainsbury's, at least NH suggested there's no prospective of the club going into Admin.
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Post by Severncider on Sept 13, 2015 17:03:26 GMT
But Toni Watola said in Court that the loan was UNSUSTABLE in it's original form.
You cannot tell me if it was UNSUSTANABLE before, it must be doubly so in any new format.
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Post by Topper Gas on Sept 13, 2015 18:55:41 GMT
In typical Wonga style I assume the interest due will be rolled into a new, longer loan, so we'll then be paying interest on the interest, clearly the only way out of this financial mess will be to sell the Mem to clear the loan/other debts. We just have to hope somebody is daft enough to fund the UWE if we do lose eventually lose the Sainsbury's Appeal.
I can never understand why interviewers such as 20men give NH/TW such an easy ride.
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Post by Feeling The Blues on Sept 13, 2015 21:51:00 GMT
In typical Wonga style I assume the interest due will be rolled into a new, longer loan, so we'll then be paying interest on the interest, clearly the only way out of this financial mess will be to sell the Mem to clear the loan/other debts. We just have to hope somebody is daft enough to fund the UWE if we do lose eventually lose the Sainsbury's Appeal. I can never understand why interviewers such as 20men give NH/TW such an easy ride. Twentyman is no Jeremy Paxman but this is a subject he should know something about and to not question what Higgs meant by planning permission being in place for Plan B was pretty crap.
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Post by Henbury Gas on Sept 14, 2015 6:55:28 GMT
Sounded promising in that their is a plan b for the uwe funding and that they are in the process of restructuring the msp loanI am staggered that no-one has picked up or commented on this point.
Any renegotiation CANNOT be from a position of any strength and I can only assume that MSP will be better off and us worse off following any restructuring.
Maybe the new owners want to pay it off early ?
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Post by kruger on Sept 14, 2015 7:07:51 GMT
I am staggered that no-one has picked up or commented on this point.
Any renegotiation CANNOT be from a position of any strength and I can only assume that MSP will be better off and us worse off following any restructuring.
Maybe the new owners want to pay it off early ? maybe you could be right
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Post by Captain Jayho on Sept 14, 2015 7:50:51 GMT
Clearly Nick has brokered a deal to write off the loan in return for naming rights to the stadium - The University of the West of Wonga Stadium has a nice ring to it.
However, to fund the build of the UWWS we're obviously going to now need to take out a new 30 million quid loan with them.
You read it here first.
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Post by dragonfly on Sept 14, 2015 10:35:58 GMT
Higgs also said that all court fees and the settlement awarded to Sainsbury had been paid and that the appeal cost was "small beer" in comparison. After listening to his interview, the Club's finances appear sound and the Mem will not form part of our future. He claimed the 6 or 7 points which formed his basis of the court case were won and that a further point was ambiguous in the judges conclusion, so it is sensible to appeal. This and the content of the whole interview game me cause for cautious optimism.
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Post by Mancgas has left the building on Sept 15, 2015 15:35:39 GMT
Higgs also said that all court fees and the settlement awarded to Sainsbury had been paid and that the appeal cost was "small beer" in comparison. After listening to his interview, the Club's finances appear sound and the Mem will not form part of our future. He claimed the 6 or 7 points which formed his basis of the court case were won and that a further point was ambiguous in the judges conclusion, so it is sensible to appeal. This and the content of the whole interview game me cause for cautious optimism. lord knows why - its all crap- you can win 99/100 points in a legal case, but if the 1 you lose is the fundamental point - you lose. I can paraphrase the real meaning of what Higgs said 'We are hanging on in the hope I can get all the money I've wasted back and skidaddle into the Tuscan sunset.
If wasting more of the clubs money (or increasing the clubs debt in reality)is the only way I can hope to get my money back so be it.
Our lawyers have told me we've won 6/7 arguments so only 1 to go, and I'm sure no lawyer has ever persuaded a business to enter into legal process with half an eye on their repeat fees they can earn and can they've assured me they wont blame a barrister or me/Toni when defeat is finally confirmed. I like these lawyers Geoff and they like me- one even sent me a postcard from their new Monte Carlo villa bought shortlyu after we paid their very reasonable £400k bill.
On UWE whilst we have a plan A and B, and whilst some people doubt the 'plan b' bit, the word I'm actually using incorrectly is 'plan' in actual fact we've got
- last hope 'A' and
- unlikely hope 'B'
Anyone who believes we 'plan' is walking right into the only actual 'plan' I have (which is to keep 'em guessing).
My favourite soundbite which they swallow Geoff is 'a 24/7 stadium is a must', as that fools folk into believing we will be self sufficient when Mem is built, after all 'build it and they will come' has always been our mantra during decades of new stadia or redevelopment plans, and the fans have always swallowed that.
Thank Christ Geoff, no one challenges us on the market research we've done on who will be using this massive facility '24/7' as we've not actually done any. Indeed you'd be daft to believe any 'build it and they'll have meetings there' mantra we spew out as actually we have pretty nice exec boxes and the conference facilities at the Mem are at least average,and cheap, but are used less than one day in 10. If any one asks a difficult question we just say UWE will use the meeting rooms for teaching........
I can confirm we are also keeping Wonga loans companies in profit, and able to pay the salaries of their employees- yet more success I can point to-important given our community club status. Shame its not the Bristol Rovers community we've succeeded at, but any community in a storm eh Geoff!!
But as I've always said the fans should be grateful to this Board as we wouldnt be where we are without us. We certainly wouldn't have quadrupled the clubs debt in only 5 years without my leadership, and surely that's a record (and any record is a good record).
Plus we've achieved 2 relegation's whilst quadrupling the debt, again something only my Board has achieved. Not only have we visited L2 for 2nd time in 100 plus years under my stewardship, we introduced fans to the excellent Conference league and places like Dover and Dartford, which no other Chairman has led us to, plus given the fans yet another Wembley day out.
Its clear for all to see the great job I'm doing, I've lent more money than any other chairman whilst achieving completely consistent failure and its obviously appreciated as crowds are holding up, in fact we get more now than we got in L1............'
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