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Post by aghast on Feb 16, 2016 21:30:26 GMT
Do you honestly think the Mem will be sold, and so make us homeless? No, Plan B will kick in, whatever that is I assume a mini UWE financed by the UWE, or some external party, as NH says we can't survive at the Mem so moving to the UWE seems the only option, as I doubt Pantsdown will let us play at AG and Bath City's ground is no longer suitable. If we don't sell the Mem with NH seeming having lost interest in lending the club money what other option is there when we owe MSP over £3m, Sainsbury's legal costs of up to £699K both of whichl have to be paid this year, plus general debts of around another £10m, whilst some debtors will wait some will surely want the debts cleared? The only other option is extending the MSP loan but at some point it has to be repaid? Obviously the loan will have to be repaid eventually, but as a deal it's great for MSP to keep on extending the term. They get far more from us in interest than they would investing the money elsewhere, so in theory it could go on for a number of years. Like a 25 year interest-only mortgage, in principle. But not for 25 years, I hope. If they're not too cash-strapped they might even be happy to allow the interest charges to be added to the loan, since we apparently haven't paid back any of the capital or interest yet. Presumably once we lose the appeal and Plan B is announced, all this will be sorted. I can't imagine how, but it'll be interesting.
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Post by Deleted on Feb 16, 2016 21:35:43 GMT
Wow so in a few days its gone from(and I quote) The Prince, to his brother(even though he hasn't got one) to a Jordanian businessman, to respected people. On Monday, then Friday, then after the court case. I think I've got this correct. I suspect I've missed a bit... And people still believe, just wow. Nope, not my quotes. Mine was that there is a possibility that a deal might be struck with a Jordanian businessman and I heard it from respected people. So the only bit you query is the bit you edited.... I didn't day they were your all your own quotes, there are so many itk posters with different stories its hard to think who is telling the truth. A prince His brother(shh he doesn't have one) A Jordanian businessman Respected people. Yesterday Friday After the court csse
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Post by peterparker on Feb 16, 2016 21:35:37 GMT
No, Plan B will kick in, whatever that is I assume a mini UWE financed by the UWE, or some external party, as NH says we can't survive at the Mem so moving to the UWE seems the only option, as I doubt Pantsdown will let us play at AG and Bath City's ground is no longer suitable. If we don't sell the Mem with NH seeming having lost interest in lending the club money what other option is there when we owe MSP over £3m, Sainsbury's legal costs of up to £699K both of whichl have to be paid this year, plus general debts of around another £10m, whilst some debtors will wait some will surely want the debts cleared? The only other option is extending the MSP loan but at some point it has to be repaid? Obviously the loan will have to be repaid eventually, but as a deal it's great for MSP to keep on extending the term. They get far more from us in interest than they would investing the money elsewhere, so in theory it could go on for a number of years. Like a 25 year interest-only mortgage, in principle. But not for 25 years, I hope. If they're not too cash-strapped they might even be happy to allow the interest charges to be added to the loan, since we apparently haven't paid back any of the capital or interest yet. Presumably once we lose the appeal and Plan B is announced, all this will be sorted. I can't imagine how, but it'll be interesting. Thats it isnt it. We cant imagine how without thinking of bad outcomes. Plan B by definition isnt as good as plan A or plan b would be plan a and seeing as Plan A no longer adds up...
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Post by Deleted on Feb 16, 2016 21:46:34 GMT
Nope, not my quotes. Mine was that there is a possibility that a deal might be struck with a Jordanian businessman and I heard it from respected people. So the only bit you query is the bit you edited.... I didn't day they were your all your own quotes, there are so many itk posters with different stories its hard to think who is telling the truth. A prince His brother(shh he doesn't have one) A Jordanian businessman Respected people. Yesterday Friday After the court csse You've left out Plan B.
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Post by Severncider on Feb 16, 2016 21:56:05 GMT
The Memorial Stadium Company is dormant if it still exists. Bristol Rover 1883 Ltd own the Memorial Stadium and also Bristol Rovers Foootball Club. The accounts and the debt you witness is Bristol Rovers 1883 Ltd. In the old days football clubs used to own the stadium company.
If the club went bust then an asset is their stadium and that would be sold to repay the creditors.
Football clubs became wise and the stadium company now owns the football club, so if the club go bust, they do not own the stadium and it cannot be used to pay off creditors.
That is my understanding.
Must sign off to go and watch a decent game of football with a mug of cocoa.
Back after watching a good game.
Just looked through what I've missed.
Jack s*it
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Post by Topper Gas on Feb 16, 2016 22:11:01 GMT
What do you expect in a couple of hours on a Tuesday night, the Jordanian's to post details of their bid and NH to respond with full details of his Plan B??
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Post by lpgas on Feb 16, 2016 22:15:53 GMT
err didn't NH say that there have been offers but no one has the money?
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Post by Severncider on Feb 16, 2016 22:16:22 GMT
What do you expect in a couple of hours on a Tuesday night, the Jordanian's to post details of their bid and NH to respond with full details of his Plan B?? No, some constructive discussion, but I know that was hardly likely to happen.
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Post by Deleted on Feb 16, 2016 22:18:54 GMT
What do you expect in a couple of hours on a Tuesday night, the Jordanian's to post details of their bid and NH to respond with full details of his Plan B?? No, some constructive discussion, but I know that was hardly likely to happen. To be fair, some posters tried.
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Post by Deleted on Feb 16, 2016 22:40:42 GMT
err didn't NH say that there have been offers but no one has the money? He says a lot of things.
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Post by markczgas on Feb 16, 2016 22:54:01 GMT
All the NH/Board bashers stating about the bad way the finances are standing and the bad way the club is being run should look further afield as well to: Shamesbury's Trash / Greens Carstairs Bad drafting/checking by legal team (subject to result of appeal!) All those fans who moan when they have to pay for Cat A games All those fans who moan when we don't back the manager All those fans who spend their money in pub (me included) and not the ground before matches It is easy to point the finger at those at the top, but we all have a part to play in supporting a lower league club - can we all hand on heart say we do? sure mistkaes have been made and rightly been criticised (share scheme, Cheltenham, backing the wrong managers, etc...), but until we know there are viable alternatives we should be careful what we wish for. You are DESPERATE or a FOOL !
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Post by garystash on Feb 17, 2016 8:32:07 GMT
I've only just managed to have a quick look at the document, and I don't profess to understand it - so I have a couple of questions about the balance sheet (marked as page 11, but is the 14th page of the document) for anyone that does. - Where is the Mem? I would expect it to see Fixed Assets of over £10m (given that is the supposed value of our stadium).
- Current Assets - Debtors, Who owes/owed us £6,150,633?
Finally just an observation for anyone to comment on. I've read on these forums that in order to service our debts we'd need to sell the Mem. Well, at the bottom of the page marked as 4 (although I think it's the 7th page of the document), the accountants state:
In other words, if we sell everything we own to pay our debts, we'd still be nearly £4m short.
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Post by Topper Gas on Feb 17, 2016 11:05:01 GMT
I've only just managed to have a quick look at the document, and I don't profess to understand it - so I have a couple of questions about the balance sheet (marked as page 11, but is the 14th page of the document) for anyone that does. - Where is the Mem? I would expect it to see Fixed Assets of over £10m (given that is the supposed value of our stadium).
- Current Assets - Debtors, Who owes/owed us £6,150,633?
Finally just an observation for anyone to comment on. I've read on these forums that in order to service our debts we'd need to sell the Mem. Well, at the bottom of the page marked as 4 (although I think it's the 7th page of the document), the accountants state:
In other words, if we sell everything we own to pay our debts, we'd still be nearly £4m short.
I maybe wrong but I don't think that figure takes into consideration the value of the Mem on the open market just the present book value? Although it doesn't also take into consideration the UWE/Sainsburys copsts of over £3m if we have to scrap those plans for a new staduim?
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Post by peterparker on Feb 17, 2016 13:26:27 GMT
I've only just managed to have a quick look at the document, and I don't profess to understand it - so I have a couple of questions about the balance sheet (marked as page 11, but is the 14th page of the document) for anyone that does. - Where is the Mem? I would expect it to see Fixed Assets of over £10m (given that is the supposed value of our stadium).
- Current Assets - Debtors, Who owes/owed us £6,150,633?
Finally just an observation for anyone to comment on. I've read on these forums that in order to service our debts we'd need to sell the Mem. Well, at the bottom of the page marked as 4 (although I think it's the 7th page of the document), the accountants state:
In other words, if we sell everything we own to pay our debts, we'd still be nearly £4m short.
The Mem is probably only valued at cost or an earlier revaluation in the books currently
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Post by CheshireGas on Feb 17, 2016 16:25:26 GMT
- Where is the Mem? I would expect it to see Fixed Assets of over £10m (given that is the supposed value of our stadium).
- Current Assets - Debtors, Who owes/owed us £6,150,633?
The Mem is probably only valued at cost or an earlier revaluation in the books currently The Mem is under Fixed Assets at purchase value less depreciation plus capitalised (legal) costs. The debtors under "company" of £6mln in st the intercompany debt between BRFC 1883 Ltd and BRFC Ltd. The accounts that have been issued are the consolidated accounts so it won't show under the group position.
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Post by Deleted on Feb 17, 2016 16:52:48 GMT
EP has story about this-typing error!
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Post by garystash on Feb 17, 2016 16:53:10 GMT
The Mem is probably only valued at cost or an earlier revaluation in the books currently The Mem is under Fixed Assets at purchase value less depreciation plus capitalised (legal) costs. The debtors under "company" of £6mln in st the intercompany debt between BRFC 1883 Ltd and BRFC Ltd. The accounts that have been issued are the consolidated accounts so it won't show under the group position. Thanks - an informed response.
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Post by dinsdale on Feb 17, 2016 19:34:10 GMT
Every year they release the accounts and we all say how sh** they are and how will we survive and then the next year its the same but worse. We have been drifting towards bankruptcy for years and its almost at the point of no return. Its this sentiment that makes me wonder why the supporters club never say / do anything at all to intervene or even just to go public about how concerning it is. £10m of debt for a small club like us and literally nothing is ever said. The press feel gagged the fans directors are sidelined and we will be here next year £12-£14m in debt having the same conversation.
I have been saying for years you can't run a club like this, there is no plan to break even, no plan for anything other then chuck every penny at the 1st team and hope something comes up. The only difference between the Higgs and the Dunford jnr era was Geoff would gamble even more money when we were in the sh**. At least when his Dad was in charge we had a decent scouting system creating some revenue for the club.
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Post by dinsdale on Feb 17, 2016 19:36:16 GMT
Every year they release the accounts and we all say how sh** they are and how will we survive and then the next year its the same but worse. We have been drifting towards bankruptcy for years and its almost at the point of no return. Its this sentiment that makes me wonder why the supporters club never say / do anything at all to intervene or even just to go public about how concerning it is. £10m of debt for a small club like us and literally nothing is ever said. The press feel gagged the fans directors are sidelined and we will be here next year £12-£14m in debt having the same conversation. I have been saying for years you can't run a club like this, there is no plan to break even, no plan for anything other then chuck every penny at the 1st team and hope something comes up. The only difference between the Higgs and the Dunford jnr era was Geoff would gamble even more money when we were in the sh**. At least when his Dad was in charge we had a decent scouting system creating some revenue for the club. Sorry for the rant its been doing my head in since about 2002
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Post by Topper Gas on Feb 17, 2016 20:05:13 GMT
Every year they release the accounts and we all say how sh** they are and how will we survive and then the next year its the same but worse. We have been drifting towards bankruptcy for years and its almost at the point of no return. Its this sentiment that makes me wonder why the supporters club never say / do anything at all to intervene or even just to go public about how concerning it is. £10m of debt for a small club like us and literally nothing is ever said. The press feel gagged the fans directors are sidelined and we will be here next year £12-£14m in debt having the same conversation. I have been saying for years you can't run a club like this, there is no plan to break even, no plan for anything other then chuck every penny at the 1st team and hope something comes up. The only difference between the Higgs and the Dunford jnr era was Geoff would gamble even more money when we were in the sh**. At least when his Dad was in charge we had a decent scouting system creating some revenue for the club. Not sure what you expect the BoD to do as if they hadn't overspent by £1m last season we'd probably still be playing non league/potentially being in Torquay's or Wrexham's position now given how close we came to not getting promoted? It's obvious we can't survive at the Mem so NH has been doing something to sort that issue out but now it seems fans are turning on him for trying that, even the real culprits are Trash/Sainsburys. As far as a scouting system goes do we really need one when we can still pick up the likes of Taylor, Lockyer, Leadbitter & Gaffney on the pitch DC seems to be moving in the right direction, off the pitch it's anybody's guess what will happen in the next 6 months.
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