Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Jan 14, 2018 23:23:59 GMT
Taken from the Tranmere forum,Bury may be after Connor Jennings.
With regard to Connor or anyone else going to Bury,this comment is on their forum:-
It’s finally unravelling, as the Day financial instrument that is Bury FC just doesn’t work unless there is on-field success and (even then, it would have been doomed to fail as BFC could only ever attract c7500 fans in the Championship. This was perhaps the most obvious sign in respect of Day’s approach).
The Directors borrow money at very high borrowing rates, but as every pound “lent” to Bury FC attracts massively higher rates, it is apparently in the “Directors” direct financial interest to rack up as much debt as possible against the club. Hence the silly multiple signings, wages etc etc
Apparently, every fan appears is handing hard-earned cash to the “Directors” and the club gets deeper into debt on a daily basis. The higher the debt, the higher the payments owed to the “Directors” ?
Meanwhile, the club approaches bankruptcy. The sale of Gigg Lane will not cover the debt. Directors walk away. Goodness knows how much cash might be stripped as the instrument unravels.
The “Directors” should walk now - rather than continuing to rack up debt that can’t be paid. The squad should be honed right back and preparation should be put in place for League 2 survival. If not, there will probably be no Bury FC beyond 2018/19. Its already a car crash and one suspects a new club, “Bury 2019” will need to be created in any case. However, Lucketti (and a returned Brass) & 3,000 fans might just keep a Bury team in the League.
Sad it’s taken this long for the average Shakers fan to realise the harm being inflicted - the details were exposed a couple of years ago in a national newspaper when Day did the earlier “deals” for BFC to pay him at shocking 100% plus interest rates - but the fans just support the team, and they expect nothing other than Directors to act in the best interests of a 133 year old club.
Fortunately, everything comes out in the end. Just ask Owen and Karl Oyston.
UTS
|
|
|
Post by mehewmagic on Jan 14, 2018 23:40:27 GMT
Apparently they have just sacked manager Chris Lucketti. He has only been in the job 2 months! He could never live up to his name 😂. Not at Bury.
|
|
|
Post by warehamgas on Jan 15, 2018 0:01:55 GMT
From reading bertrams post sacking the manager might be the least of their problems! I presume we will not have many holding Bury FC up as an example for DC to follow. Thank goodness we support BRFC, seriously! UTG!
|
|
pirate
Forum Legend
Posts: 18,620
|
Post by pirate on Jan 15, 2018 0:08:14 GMT
From reading bertrams post sacking the manager might be the least of their problems! I presume we will not have many holding Bury FC up as an example for DC to follow. Thank goodness we support BRFC, seriously! UTG! How much are we in debt again? We reported an almost £3m pre-tax loss in the latest accounts submitted to Companies House.
|
|
|
Post by chilly1883 on Jan 15, 2018 7:17:45 GMT
That's shocking if true!, count yer blessings Gas heads 🙏
|
|
|
Post by warehamgas on Jan 15, 2018 9:30:38 GMT
From reading bertrams post sacking the manager might be the least of their problems! I presume we will not have many holding Bury FC up as an example for DC to follow. Thank goodness we support BRFC, seriously! UTG! How much are we in debt again? We reported an almost £3m pre-tax loss in the latest accounts submitted to Companies House. Yes we are but there seems a big difference in the way the clubs are run. And from the Bury Forum it seems as if it’s about to go seriously wrong. That was my point. UTG!
|
|
pirate
Forum Legend
Posts: 18,620
|
Post by pirate on Jan 15, 2018 9:34:40 GMT
How much are we in debt again? We reported an almost £3m pre-tax loss in the latest accounts submitted to Companies House. Yes we are but there seems a big difference in the way the clubs are run. And from the Bury Forum it seems as if it’s about to go seriously wrong. That was my point. UTG! Fair enough. I hope for the fans sake they sort themselves out. Sounds like a serious mess.
|
|
|
Post by Colyton Gas on Jan 15, 2018 9:47:00 GMT
Think fans everywhere moan.Up here ,Stoke still have no manager which they need in the window and fans are really up in arms.Martin O Neill has turned them down and their realistic arch rivals Wolves could well replace them in the Prem'.Nice easy match to-night though at Old Trafford !! We all want a winning team.Can't see our two Stoke loanees being good enough for the Prem. The joys of supporting a team can often distress but is worth it when we win be it Braintree or Barcelona.( P.S. Gas have never lost to Barcelona!)
|
|
|
Post by Topper Gas on Jan 15, 2018 11:31:08 GMT
Yes we are but there seems a big difference in the way the clubs are run. And from the Bury Forum it seems as if it’s about to go seriously wrong. That was my point. UTG! Fair enough. I hope for the fans sake they sort themselves out. Sounds like a serious mess. I hope they don't as it looks they've already taken one of the 4 relegation slots!
|
|
|
Post by lympstonegas on Jan 15, 2018 12:36:52 GMT
Burys plight though some would say definitely self inflicted brings home the message about the perils of trying to buy yourself out of trouble. Giving contracts to aging pros that have played at a higher level and suffered injury problems is asking for trouble and a recipe for disaster as we found out on our relegation out of league football. It doesn't guarantee success in any shape or form. Looking at where we are now as a result of DCs ethos in relation to Bury, Torquay, Hartlepool and more so Barnet now now under McGee enables me to say a prayer of thanks we stopped following the Bury way. Perhaps Bristol Rovers can be held up as the way forward if we continue to secure our L1 status alongside our training ground and revamped stadium.
|
|
|
Post by warehamgas on Jan 15, 2018 12:59:36 GMT
Think fans everywhere moan.Up here ,Stoke still have no manager which they need in the window and fans are really up in arms.Martin O Neill has turned them down and their realistic arch rivals Wolves could well replace them in the Prem'.Nice easy match to-night though at Old Trafford !! We all want a winning team.Can't see our two Stoke loanees being good enough for the Prem. The joys of supporting a team can often distress but is worth it when we win be it Braintree or Barcelona.( P.S. Gas have never lost to Barcelona!) Will Stoke be happy with Lambert? Sounds as if he was third or fourth choice! Sounds as if they sacked Hughes with only half a plan. UTG!
|
|
|
Post by peterparker on Jan 15, 2018 13:08:55 GMT
Burys plight though some would say definitely self inflicted brings home the message about the perils of trying to buy yourself out of trouble. Giving contracts to aging pros that have played at a higher level and suffered injury problems is asking for trouble and a recipe for disaster as we found out on our relegation out of league football. It doesn't guarantee success in any shape or form. Looking at where we are now as a result of DCs ethos in relation to Bury, Torquay, Hartlepool and more so Barnet now now under McGee enables me to say a prayer of thanks we stopped following the Bury way. Perhaps Bristol Rovers can be held up as the way forward if we continue to secure our L1 status alongside our training ground and revamped stadium. Meanwhile are owners are criticised for trying to run a business
|
|
|
Post by peterparker on Jan 15, 2018 13:12:45 GMT
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Jan 15, 2018 13:14:30 GMT
Burys plight though some would say definitely self inflicted brings home the message about the perils of trying to buy yourself out of trouble. Giving contracts to aging pros that have played at a higher level and suffered injury problems is asking for trouble and a recipe for disaster as we found out on our relegation out of league football. It doesn't guarantee success in any shape or form. Looking at where we are now as a result of DCs ethos in relation to Bury, Torquay, Hartlepool and more so Barnet now now under McGee enables me to say a prayer of thanks we stopped following the Bury way. Perhaps Bristol Rovers can be held up as the way forward if we continue to secure our L1 status alongside our training ground and revamped stadium. Meanwhile are owners are criticised for trying to run a business Exactly
|
|
|
Post by Topper Gas on Jan 15, 2018 13:37:49 GMT
Burys plight though some would say definitely self inflicted brings home the message about the perils of trying to buy yourself out of trouble. Giving contracts to aging pros that have played at a higher level and suffered injury problems is asking for trouble and a recipe for disaster as we found out on our relegation out of league football. It doesn't guarantee success in any shape or form. Looking at where we are now as a result of DCs ethos in relation to Bury, Torquay, Hartlepool and more so Barnet now now under McGee enables me to say a prayer of thanks we stopped following the Bury way. Perhaps Bristol Rovers can be held up as the way forward if we continue to secure our L1 status alongside our training ground and revamped stadium. Meanwhile are owners are criticised for trying to run a business Bury's total debts last year were £4.2m ours around £10m, they hoped to break even this financial year we still seem content to let debts increase at around £2m p.a. I'm not sure we've running a better business model, in fact apart from hoping for a miracle I'm not sure what business plan we are running, as we can't keep increasing debts at the rate we are doing indefinitely.
|
|
|
Post by peterparker on Jan 15, 2018 14:46:45 GMT
Meanwhile are owners are criticised for trying to run a business Bury's total debts last year were £4.2m ours around £10m, they hoped to break even this financial year we still seem content to let debts increase at around £2m p.a. I'm not sure we've running a better business model, in fact apart from hoping for a miracle I'm not sure what business plan we are running, as we can't keep increasing debts at the rate we are doing indefinitely. just putting it there for illustrative purposes. As for trying to break even this year. If they manage that with their spending i would be amazed www.google.co.uk/amp/s/amp.theguardian.com/football/2016/oct/27/bury-gigg-lane-winding-up-order-league-onePick the salient info from the above link. From that we can see the sort of problems they have had, loans and mortgages to outside creditors. We cant keep running up losses, but to paraphrase Wael, it takes time to right a sinking ship, but it seems some of our fans expect a magic wand
|
|
|
Post by Midsomer Murderer on Jan 15, 2018 15:29:49 GMT
Should be in general chat surely ? we can't talk about the sh** in gaschat so why do bury get allowed ? just asking mind
|
|
|
Post by Topper Gas on Jan 15, 2018 16:01:09 GMT
Bury's total debts last year were £4.2m ours around £10m, they hoped to break even this financial year we still seem content to let debts increase at around £2m p.a. I'm not sure we've running a better business model, in fact apart from hoping for a miracle I'm not sure what business plan we are running, as we can't keep increasing debts at the rate we are doing indefinitely. just putting it there for illustrative purposes. As for trying to break even this year. If they manage that with their spending i would be amazed www.google.co.uk/amp/s/amp.theguardian.com/football/2016/oct/27/bury-gigg-lane-winding-up-order-league-onePick the salient info from the above link. From that we can see the sort of problems they have had, loans and mortgages to outside creditors. We cant keep running up losses, but to paraphrase Wael, it takes time to right a sinking ship, but it seems some of our fans expect a magic wand But that was Oct 2016 seen then they've cut their overall debts and seem in much better shape financially than Rovers i.e. lower debts/annual debts reducing, why do you think the AQL's are doing a much better job? Their owner is even turning loans into equity to reduce the overall debts! Not sure we expect a magic wand but can't see poring money into a seemingly bottom less approach as ever worked
|
|
|
Post by peterparker on Jan 15, 2018 16:11:23 GMT
just putting it there for illustrative purposes. As for trying to break even this year. If they manage that with their spending i would be amazed www.google.co.uk/amp/s/amp.theguardian.com/football/2016/oct/27/bury-gigg-lane-winding-up-order-league-onePick the salient info from the above link. From that we can see the sort of problems they have had, loans and mortgages to outside creditors. We cant keep running up losses, but to paraphrase Wael, it takes time to right a sinking ship, but it seems some of our fans expect a magic wand But that was Oct 2016 seen then they've cut their overall debts and seem in much better shape financially than Rovers i.e. lower debts/annual debts reducing, why do you think the AQL's are doing a much better job? Their owner is even turning loans into equity to reduce the overall debts! Not sure we expect a magic wand but can't see poring money into a seemingly bottom less approach as ever worked I have not said the AQs are necessarily doing a better job. In fact i am more pointing out the similarities. Outside creditors reduced/eradicated. Credit facility of 7.5m, Large annual losses etc. Who is to say Dwane Sports wont convert debt to equity. For all the people criticising Dwane and the business practice, Loan secured against Mem. The 'credit facility', accruing interest etc, it appears if you google countless clubs and owners it is a standard practice and eventually some debt gets written off etc. Now I cant say for certain Dwane will do that, but perhaps they actually know a bit more about what they are doing than some are worried about when it seems pretty standard in football amongst rich FC owners www.bbc.co.uk/sport/football/35540163
|
|
Marshy
Proper Gas
Posts: 14,123
|
Post by Marshy on Jan 15, 2018 18:30:09 GMT
Should be in general chat surely ? we can't talk about the sh** in gaschat so why do bury get allowed ? just asking mind Yep I agree, f**k Bury!
|
|