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Post by Deleted on Apr 9, 2017 8:04:28 GMT
You can't endlessly speculate over an audited account sheet Hugo, it is cold hard facts and states our financial situation, absolutely, no if's, no but's. If the ground is ever built, and quite why this is all taking so long if both parties, as we are told, want it to happen is beyond me, there will be pages of speculation and guff about build time, cost, who carries the debt, UWE, leasehold etc etc etc......l! Getting anything done at Rovers Is a bit like mating Elephants. It can't be achieved without a lot of trumpeting, bellowing and anguish, and takes several years to bear fruit. Wait, what? You mate with elephants?
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Post by Strange Gas on Apr 9, 2017 8:32:33 GMT
No surprises here really is there? We have (or had) big debts but they are serviceable and the running cost of the club are being underwritten. It depends on your attitude to debt but should rationally only be an issue if you have no means to service and ideally repay at some point. This section should give us all reason to be a bit cheerful
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Post by gasandelectricity on Apr 9, 2017 9:10:35 GMT
So basically it sounds like Dwayne Sports exists to basically provide our financial services needs i.e. a kick ass friendly overdraft, and that ex directors now have their interests in Dwayne Sports instead who likely have outstanding liabilities to them as creditors, thus removing their direct stake in the football club.
When the Mem gets sold the club repays its debts to Dwane sports who in turn pay off its creditors I.e former directors. Meanwhile they get additional capital through convenient financial relationships with other organisations.
Nothing to see here?
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Post by Deleted on Apr 9, 2017 10:16:05 GMT
I'm just beginning to feel slightly uncomfortable along with others I guess - particularly with the statement of accounts and the debt. I thought we were effectively debt free after the takeover. There would have been a 'due diligence' undertaken prior to the takeover so all these things that are crawling out of the woodwork re The Stafium are coming as a bit of a surprise unless the 'goalposts' have been significantly moved. For the life of me I cannot understand what the 'log jam' is in these negotiations. If we believe Hamer - the total funding is in place - the leasehold issue doesn't appear to be a problem anymore - the value of the land appears to have been agreed - what are the issues? I could understand it if there were planning/design issues these can take an age but these have also been sorted apparently !! The latest statement - "we hope to have it agreed by August" - why that specific timescale - a two year build programme for the start of 2019/2020.? IMO this is really literally a Sh$t or bust situation - all eggs in one basket I'm afraid - if this doesn't happen we are in deep clag. Keep the faith - maybe - but it's being stretched.
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Post by gasify on Apr 9, 2017 10:33:47 GMT
The accounts are up to 30th June 2016, so no, not on that date.
Did anyone believe that was not the case?
Well, I'm fairly sure many assumed we were effectively debt free, yes. I'm certainly surprised to see we still owe 8M. Do these accounts indicate that we still own the ground then? I would suggest if we owe 8M and don't own the ground we are considerably worse off no? The investment section reveals that this company owns the stadium company. So, indirectly the answer is 'Yes' still own the ground.
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Post by Deleted on Apr 9, 2017 10:35:24 GMT
I'm just beginning to feel slightly uncomfortable along with others I guess - particularly with the statement of accounts and the debt. I thought we were effectively debt free after the takeover. There would have been a 'due diligence' undertaken prior to the takeover so all these things that are crawling out of the woodwork re The Stafium are coming as a bit of a surprise unless the 'goalposts' have been significantly moved. For the life of me I cannot understand what the 'log jam' is in these negotiations. If we believe Hamer - the total funding is in place - the leasehold issue doesn't appear to be a problem anymore - the value of the land appears to have been agreed - what are the issues? I could understand it if there were planning/design issues these can take an age but these have also been sorted apparently !! The latest statement - "we hope to have it agreed by August" - why that specific timescale - a two year build programme for the start of 2019/2020.? IMO this is really literally a Sh$t or bust situation - all eggs in one basket I'm afraid - if this doesn't happen we are in deep clag. Keep the faith - maybe - but it's being stretched. Maybe August is the cut-off point for negotiations as far as one of the parties is concerned? Who knows what else might be going on in the background, didn't the new training ground only become public knowledge shortly before the purchase? I think that Wael and co run a tighter ship with regards to information being leaked. These accounts only cover the first 4 months of their tenure, so I don't really see any need to panic at the moment.
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Post by gasify on Apr 9, 2017 10:41:12 GMT
I'm just beginning to feel slightly uncomfortable along with others I guess - particularly with the statement of accounts and the debt. I thought we were effectively debt free after the takeover. There would have been a 'due diligence' undertaken prior to the takeover so all these things that are crawling out of the woodwork re The Stafium are coming as a bit of a surprise unless the 'goalposts' have been significantly moved. For the life of me I cannot understand what the 'log jam' is in these negotiations. If we believe Hamer - the total funding is in place - the leasehold issue doesn't appear to be a problem anymore - the value of the land appears to have been agreed - what are the issues? I could understand it if there were planning/design issues these can take an age but these have also been sorted apparently !! The latest statement - "we hope to have it agreed by August" - why that specific timescale - a two year build programme for the start of 2019/2020.? IMO this is really literally a Sh$t or bust situation - all eggs in one basket I'm afraid - if this doesn't happen we are in deep clag. Keep the faith - maybe - but it's being stretched. It's been said on here before, we need to differentiate between 'External' debt and 'internal' debt. We are 'External' debt free as we have paid back the 'Wonga' loan as reported. However the new owners will want to be reimbursed for that at some point, so 'internal' debt is still high. Same as red nose and the other lot, the football club owes a lot of money to the owner. We have been guaranteed a year from the date of the accounts, hopefully it will be a formality to guarantee future years.....
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Post by gasify on Apr 9, 2017 10:43:37 GMT
I'm just beginning to feel slightly uncomfortable along with others I guess - particularly with the statement of accounts and the debt. I thought we were effectively debt free after the takeover. There would have been a 'due diligence' undertaken prior to the takeover so all these things that are crawling out of the woodwork re The Stafium are coming as a bit of a surprise unless the 'goalposts' have been significantly moved. For the life of me I cannot understand what the 'log jam' is in these negotiations. If we believe Hamer - the total funding is in place - the leasehold issue doesn't appear to be a problem anymore - the value of the land appears to have been agreed - what are the issues? I could understand it if there were planning/design issues these can take an age but these have also been sorted apparently !! The latest statement - "we hope to have it agreed by August" - why that specific timescale - a two year build programme for the start of 2019/2020.? IMO this is really literally a Sh$t or bust situation - all eggs in one basket I'm afraid - if this doesn't happen we are in deep clag. Keep the faith - maybe - but it's being stretched. Maybe August is the cut-off point for negotiations as far as one of the parties is concerned? Who knows what else might be going on in the background, didn't the new training ground only become public knowledge shortly before the purchase? I think that Wael and co run a tighter ship with regards to information being leaked. These accounts only cover the first 4 months of their tenure, so I don't really see any need to panic at the moment. Hamer mentioned August in a radio interview ages ago. If i remember correctly it's a planning permission thing.
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Post by gasandelectricity on Apr 9, 2017 10:46:18 GMT
Contracted list seems to have been glossed over on here from the Chairman's summary.
Chris Lines Ollie Clarke Stuart Sinclair Dan Leadbitter Lee Brown Tom Lockyer Peter Hartley Byron Moore Billy Bodin Joe Partington Johnny Burn
So basically we have no-one in goal, no-one in attack.
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Post by Strange Gas on Apr 9, 2017 10:46:49 GMT
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Post by Deleted on Apr 9, 2017 11:00:27 GMT
I'm just beginning to feel slightly uncomfortable along with others I guess - particularly with the statement of accounts and the debt. I thought we were effectively debt free after the takeover. There would have been a 'due diligence' undertaken prior to the takeover so all these things that are crawling out of the woodwork re The Stafium are coming as a bit of a surprise unless the 'goalposts' have been significantly moved. For the life of me I cannot understand what the 'log jam' is in these negotiations. If we believe Hamer - the total funding is in place - the leasehold issue doesn't appear to be a problem anymore - the value of the land appears to have been agreed - what are the issues? I could understand it if there were planning/design issues these can take an age but these have also been sorted apparently !! The latest statement - "we hope to have it agreed by August" - why that specific timescale - a two year build programme for the start of 2019/2020.? IMO this is really literally a Sh$t or bust situation - all eggs in one basket I'm afraid - if this doesn't happen we are in deep clag. Keep the faith - maybe - but it's being stretched. It's been said on here before, we need to differentiate between 'External' debt and 'internal' debt. We are 'External' debt free as we have paid back the 'Wonga' loan as reported. However the new owners will want to be reimbursed for that at some point, so 'internal' debt is still high. Same as red nose and the other lot, the football club owes a lot of money to the owner. We have been guaranteed a year from the date of the accounts, hopefully it will be a formality to guarantee future years..... You're absolutely right - but it's still a debt and not written off. Wael is the enthusiastic figure head of this particular venture of a hard nosed business organisation which have made their millions through shrewd investments. If this falls through I'm not convinced they will want to stay around and look at alternatives which could take years to come to fruition. It would mean that they would be ploughing literally millions every season (we need 15k break even remember) which we won't get anywhere near at the Ramshackle. That's why I said this Stadium project is effectively "sh$t or bust". It's happened so many times at other clubs - just a tad nervous at mo - but keep the faith - we are going to need it!!
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Post by Deleted on Apr 9, 2017 11:10:11 GMT
Contracted list seems to have been glossed over on here from the Chairman's summary. Chris Lines Ollie Clarke Stuart Sinclair Dan Leadbitter Lee Brown Tom Lockyer Peter Hartley Byron Moore Billy Bodin Joe Partington Johnny Burn So basically we have no-one in goal, no-one in attack. That should fill us all with a lot of optimism then. More Hamer spin I'm afraid - just 11 players contracted at the moment - and 2/3 of those unconvincing at the moment. Some of us were being slated only a couple of weeks ago as being "ridiculous" for saying we needed up to an additional 12 players. Perhaps these same people would like to add their 'Rose Tinted' comments now or rather just face the facts.
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Post by knowall on Apr 9, 2017 11:34:03 GMT
Contracted list seems to have been glossed over on here from the Chairman's summary. Chris Lines Ollie Clarke Stuart Sinclair Dan Leadbitter Lee Brown Tom Lockyer Peter Hartley Byron Moore Billy Bodin Joe Partington Johnny Burn So basically we have no-one in goal, no-one in attack. That should fill us all with a lot of optimism then. More Hamer spin I'm afraid - just 11 players contracted at the moment - and 2/3 of those unconvincing at the moment. Some of us were being slated only a couple of weeks ago as being "ridiculous" for saying we needed up to an additional 12 players. Perhaps these same people would like to add their 'Rose Tinted' comments now or rather just face the facts. Perhaps you did not read 'gives us a great nucleus on which to build a squad capable of maintaining a serious challenge next season' and 'It also shows the Board's intention to retain its talented players and add to the squad as needed' As the new season is four months away and some players on the radar will be contracted at least till the end of June with other teams it seems a reasonable position to me. Also as we do not know which division we will be in the quality might be subject to change.
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Post by Deleted on Apr 9, 2017 11:36:27 GMT
Contracted list seems to have been glossed over on here from the Chairman's summary. Chris Lines Ollie Clarke Stuart Sinclair Dan Leadbitter Lee Brown Tom Lockyer Peter Hartley Byron Moore Billy Bodin Joe Partington Johnny Burn So basically we have no-one in goal, no-one in attack. That should fill us all with a lot of optimism then. More Hamer spin I'm afraid - just 11 players contracted at the moment - and 2/3 of those unconvincing at the moment. Some of us were being slated only a couple of weeks ago as being "ridiculous" for saying we needed up to an additional 12 players. Perhaps these same people would like to add their 'Rose Tinted' comments now or rather just face the facts. Maybe, just maybe, the players (and DC) are waiting to see what league were playing in before signing/offering contracts? Chill out, I'm pretty sure DC knows what he's doing...
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Post by Deleted on Apr 9, 2017 11:45:09 GMT
That should fill us all with a lot of optimism then. More Hamer spin I'm afraid - just 11 players contracted at the moment - and 2/3 of those unconvincing at the moment. Some of us were being slated only a couple of weeks ago as being "ridiculous" for saying we needed up to an additional 12 players. Perhaps these same people would like to add their 'Rose Tinted' comments now or rather just face the facts. Maybe, just maybe, the players (and DC) are waiting to see what league were playing in before signing/offering contracts? Chill out, I'm pretty sure DC knows what he's doing... Not disputing any of that - on May 1st we will have 11 contracted players - we will need to sign at least (IMO) another 12 players whether current players or new. The existing players out of contract will not be ours and are free to go anywhere - DC will decide if he wants to keep them or not or indeed if some of them will want to leave anyway. Interesting that DC has only offered extended contracts to just a few - so perhaps the 'jury is still out on some of them' - very likely.
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Post by Topper Gas on Apr 9, 2017 12:10:49 GMT
Maybe, just maybe, the players (and DC) are waiting to see what league were playing in before signing/offering contracts? Chill out, I'm pretty sure DC knows what he's doing... Not disputing any of that - on May 1st we will have 11 contracted players - we will need to sign at least (IMO) another 12 players whether current players or new. The existing players out of contract will not be ours and are free to go anywhere - DC will decide if he wants to keep them or not or indeed if some of them will want to leave anyway. Interesting that DC has only offered extended contracts to just a few - so perhaps the 'jury is still out on some of them' - very likely. How do we know he hasn't offered more the players haven't accepted? As far as having no goalies or strikers, isn't that fairly obvious anyway, given that Mildenhall/Puddy/Easter are unlikely to be offered new contracts and the jury is still out on Gaffers & Harrison, with Lumley & James still contracted to their parent clubs. BAck to the OP, have the ALQ's actually put any of their own money into the club, or is everything now being borrowed against the Mem value? If we ever get to the UWE then lets hope we don't hit on hard times when we get there like Coventry, or we could be back to ground sharing again one day!
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Post by baggins on Apr 9, 2017 12:16:17 GMT
Quite happy to let someone else worry about BRFC and its finances.
Pasties are still 20p yes?
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Post by gasandelectricity on Apr 9, 2017 12:49:55 GMT
Maybe, just maybe, the players (and DC) are waiting to see what league were playing in before signing/offering contracts? Chill out, I'm pretty sure DC knows what he's doing... Not disputing any of that - on May 1st we will have 11 contracted players - we will need to sign at least (IMO) another 12 players whether current players or new. The existing players out of contract will not be ours and are free to go anywhere - DC will decide if he wants to keep them or not or indeed if some of them will want to leave anyway. Interesting that DC has only offered extended contracts to just a few - so perhaps the 'jury is still out on some of them' - very likely. You're right but I don't think there's anything to worry about, or criticise the club for. I'd say our best players are contracted for next season if you're discounting our star loan players. We already knew our strike force needs reinventing and I'm sure we'd all be pretty unhappy if we had our permanent goalkeepers under contract as we need a big step forward there. It's just a shame that Lumley isn't on our own books, same for Sweeney to a lesser extent but only because we have strong back up. Our defence and midfield is looking like a great starting point heading into the summer I'd say and it's about establishing backup in a few key places, starting from scratch with our strike force and bringing in a decent goalkeeping setup. Who knows maybe we can get Lumley permanently and maybe our strikers will give Darrell something to think about.
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Post by slam on Apr 9, 2017 13:11:47 GMT
Quite happy to let someone else worry about BRFC and its finances. Pasties are still 20p yes? Don't get me started on the Pasties............
The Pasties have, by far and away, been the biggest let down of the entire season. Sack the Board!!!!!!!!!!
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Post by baggins on Apr 9, 2017 13:29:01 GMT
Quite happy to let someone else worry about BRFC and its finances. Pasties are still 20p yes? Don't get me started on the Pasties............
The Pasties have, by far and away, been the biggest let down of the entire season. Sack the Board!!!!!!!!!!
They're Ginsters? Maybe not. Last one I had looked like someone had sat on it.
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