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Post by toddy1953 on Feb 22, 2019 23:43:28 GMT
For a thriving, profitable company which was expanding rather than cutting back, where people felt secure in their jobs, customers were happy and bills were paid on time then I don't suppose anyone would object to the owners instructing their Financial Director to lend £127,566.00 to an associated company under the same ownership umbrella. But in a struggling, loss making company which was facing budget cuts, where staff felt insecure, customers were unhappy and bills were not always being paid on time then questions may be asked about why the owners did not inject the required amount of cash directly into the associated company which needed it. Not least by the staff, customers and creditors. Which bills have not been paid? Details would be nice if you answer the question. What evidence do you have that the budget will be cut? ps like all clubs the budget will be cut if were relegated but what clear evidence do you have that it will happen if we stay up? MS did say the budget will be cut over the next 12 months, when GT interviewed him after the DC sacking. |
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Post by Deleted on Feb 23, 2019 0:18:54 GMT
Which bills have not been paid? Details would be nice if you answer the question. What evidence do you have that the budget will be cut? ps like all clubs the budget will be cut if were relegated but what clear evidence do you have that it will happen if we stay up? MS did say the budget will be cut over the next 12 months, when GT interviewed him after the DC sacking. Thanks,i didn't realise he said that. An obvious question for the Q and A would have been a confirmation or clarification of that. |
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Post by peterparker on Feb 23, 2019 6:57:00 GMT
For a thriving, profitable company which was expanding rather than cutting back, where people felt secure in their jobs, customers were happy and bills were paid on time then I don't suppose anyone would object to the owners instructing their Financial Director to lend £127,566.00 to an associated company under the same ownership umbrella. But in a struggling, loss making company which was facing budget cuts, where staff felt insecure, customers were unhappy and bills were not always being paid on time then questions may be asked about why the owners did not inject the required amount of cash directly into the associated company which needed it. Not least by the staff, customers and creditors. I've always presumed that the cost of purchasing the Colony was through the (then) £10m credit facility (and therefore liable for any interest on the loan) but the ownership was under DC as a separation of assets exercise. Are you suggesting the loan was for another purpose? My assumption also. I remember some people mentioning VAT at the time. I assume it was purchased by BRFC on behalf of Dwane Sports and that money would just have been drawn down from the credit facility Even if came directly from club funds, i still see no material problem as an inter group purchase, after all DS are underwriting everything |
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Post by blueridge on Feb 23, 2019 7:38:53 GMT
If DS remain in charge I'm pretty sure we'll never have a new stadium or training ground. IMO I feel it's unlikely that any current supporter over the age of, maybe 60 will ever see a new stadium. I'll be surprised if this club will survive in the EFL beyond 10 years in its current state - in a stadium which will, one day in the not too distant future I'm sure be condemned as not fit for for purpose for the EFL. Stockport, Wrexham, Chesterfield, Torquay, Chester et al we could well be joining them. |
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Post by Henbury Gas on Feb 23, 2019 7:50:59 GMT
If DS remain in charge I'm pretty sure we'll never have a new stadium or training ground. IMO I feel it's unlikely that any current supporter over the age of, maybe 60 will ever see a new stadium. I'll be surprised if this club will survive in the EFL beyond 10 years in its current state - in a stadium which will, one day in the not too distant future I'm sure be condemned as not fit for for purpose for the EFL. Stockport, Wrexham, Chesterfield, Torquay, Chester et al we could well be joining them. i feel the other way and i'm over 60  i get the feeling they are just waiting for the right business opportunity to invest in which involves more than just a stadium/training complex |
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Post by stuart1974 on Feb 23, 2019 8:10:27 GMT
I've always presumed that the cost of purchasing the Colony was through the (then) £10m credit facility (and therefore liable for any interest on the loan) but the ownership was under DC as a separation of assets exercise. Are you suggesting the loan was for another purpose? My assumption also. I remember some people mentioning VAT at the time. I assume it was purchased by BRFC on behalf of Dwane Sports and that money would just have been drawn down from the credit facility Even if came directly from club funds, i still see no material problem as an inter group purchase, after all DS are underwriting everything Me neither. As DS are Jersey based they will not have the same VAT as BRFC and this could be a mechanism for this. Topper mentioned Fencegate, do the amounts and timings the up? I recall £30k and non payment rumours going after the accounts end. Unless these are the balance payments. |
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Post by Topper Gas on Feb 23, 2019 8:30:17 GMT
IMO I feel it's unlikely that any current supporter over the age of, maybe 60 will ever see a new stadium. I'll be surprised if this club will survive in the EFL beyond 10 years in its current state - in a stadium which will, one day in the not too distant future I'm sure be condemned as not fit for for purpose for the EFL. Stockport, Wrexham, Chesterfield, Torquay, Chester et al we could well be joining them. i feel the other way and i'm over 60 i get the feeling they are just waiting for the right business opportunity to invest in which involves more than just a stadium/training complex I can't see there any signs Hani, or his family, have any real interest in investing any money in the club. It seems to me we've just been a "shell" under both our last owners where no actual money is being invested in the club just annual debts incurred. It's all quite sad really given the support the club can generate. |
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Post by gashead1981 on Feb 23, 2019 9:24:41 GMT
So we are looking for a trading ground? So what was the point of purchasing the site that was going to be called the Colony? Another complete waste of money, in addition to the London office? Unbelievable! If we can't afford to build on a piece of land we already own, how the f..k can we afford to buy another piece of land and build the same thing on that! One thing's for sure the building cost by the time they get round to doing anything will be far more expensive than the original plan for the Colony. The fanbase are clearly being treated with total contempt as regards the intentions of Wael and co. I said it all along bideford. The “confidentiality agreement” for another site was a complete load of rubbish. There is no site in within 3 miles of the postcode of where we are where we could put a stadium that hasn’t been earmarked for development already or that we could afford to buy, develop and build on. It’s a complete lie until there is proof otherwise. The reason I say that is this present board has form for not telling the truth so I have absolutely no reason or confidence to believe what they are saying is true. |
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Post by oldgas on Feb 23, 2019 9:31:59 GMT
IMO I feel it's unlikely that any current supporter over the age of, maybe 60 will ever see a new stadium. I'll be surprised if this club will survive in the EFL beyond 10 years in its current state - in a stadium which will, one day in the not too distant future I'm sure be condemned as not fit for for purpose for the EFL. Stockport, Wrexham, Chesterfield, Torquay, Chester et al we could well be joining them. i feel the other way and i'm over 60 i get the feeling they are just waiting for the right business opportunity to invest in which involves more than just a stadium/training complex This is my hope! It makes the aches and pains of ageing joints and muscles easier to bear! |
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Post by Colyton Gas on Feb 23, 2019 10:01:36 GMT
If DS remain in charge I'm pretty sure we'll never have a new stadium or training ground. IMO I feel it's unlikely that any current supporter over the age of, maybe 60 will ever see a new stadium. I'll be surprised if this club will survive in the EFL beyond 10 years in its current state - in a stadium which will, one day in the not too distant future I'm sure be condemned as not fit for for purpose for the EFL. Stockport, Wrexham, Chesterfield, Torquay, Chester et al we could well be joining them. Totally agree. the EFL could well give us notice I fear to sort it or ground-share.One minute when UWE was scrapped, we were going to re-build the Mem then that too changed. Make good politicians our owners. Action, not waffle is needed urgently before it's too late. When you look at the stadiums of two clubs likely to drop into the Conference, Vale and Notts County, their facilities are by comparison like a five-star hotel. |
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Post by Henbury Gas on Feb 23, 2019 10:08:17 GMT
IMO I feel it's unlikely that any current supporter over the age of, maybe 60 will ever see a new stadium. I'll be surprised if this club will survive in the EFL beyond 10 years in its current state - in a stadium which will, one day in the not too distant future I'm sure be condemned as not fit for for purpose for the EFL. Stockport, Wrexham, Chesterfield, Torquay, Chester et al we could well be joining them. Totally agree. the EFL could well give us notice I fear to sort it or ground-share.One minute when UWE was scrapped, we were going to re-build the Mem then that too changed. Make good politicians our owners. Action, not waffle is needed urgently before it's too late. When you look at the stadiums of two clubs likely to drop into the Conference, Vale and Notts County, their facilities are by comparison like a five-star hotel. If they ever made ifollow available on a Sat in this country i would seriously consider using that because our stadium is so poor Then again, come Saturday i will probably still go...... |
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Post by justin blue on Feb 23, 2019 10:14:34 GMT
My question would be why are their more questions than answers when it comes to Bristol rovers ? You think there are more questions than answers? and the more I find out the less I know. |
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Post by Topper Gas on Feb 23, 2019 10:49:45 GMT
Totally agree. the EFL could well give us notice I fear to sort it or ground-share.One minute when UWE was scrapped, we were going to re-build the Mem then that too changed. Make good politicians our owners. Action, not waffle is needed urgently before it's too late. When you look at the stadiums of two clubs likely to drop into the Conference, Vale and Notts County, their facilities are by comparison like a five-star hotel. If they ever made ifollow available on a Sat in this country i would seriously consider using that because our stadium is so poor Then again, come Saturday i will probably still go...... I thought you'd watched our games on a Saturday via iFollow anyway, whilst it's nice and easy watching via iFollow nothing really beats attending a live game. |
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Post by Henbury Gas on Feb 23, 2019 10:51:17 GMT
If they ever made ifollow available on a Sat in this country i would seriously consider using that because our stadium is so poor Then again, come Saturday i will probably still go...... I thought you'd watched our games on a Saturday via iFollow anyway, whilst it's nice and easy watching via iFollow nothing really beats attending a live game. Nope season ticket holder for the past 40+ years I watch ifollow when we are away and i'm not in country  |
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Post by swissgas on Feb 23, 2019 19:22:27 GMT
For a thriving, profitable company which was expanding rather than cutting back, where people felt secure in their jobs, customers were happy and bills were paid on time then I don't suppose anyone would object to the owners instructing their Financial Director to lend £127,566.00 to an associated company under the same ownership umbrella. But in a struggling, loss making company which was facing budget cuts, where staff felt insecure, customers were unhappy and bills were not always being paid on time then questions may be asked about why the owners did not inject the required amount of cash directly into the associated company which needed it. Not least by the staff, customers and creditors. I've always presumed that the cost of purchasing the Colony was through the (then) £10m credit facility (and therefore liable for any interest on the loan) but the ownership was under DC as a separation of assets exercise. Are you suggesting the loan was for another purpose? I thought so as well but the BRFC 1883 Ltd 2017 accounts show it wasn’t, and only the 127 566 is owed by Dwane Colony Ltd to BRFC 1883 Ltd. No other related transactions are listed which would be required if BRFC 1883 Ltd had provided the 1.128 million purchase price. The loan was used to allow BRFC 1883 Ltd to repay the former directors and MSP Capital what they were owed and from then on to finance continuing trading losses. I think it probably stands at around 12 million by now. The Colony land is owned by Dwane Colony Ltd but BRFC 1883 Ltd have made purchases on behalf of Dwane Colony Ltd presumably for acquisition and maintenance costs. The owners of Dwane Colony Ltd have the benefit of the asset but it appears the liabilities are borne by BRFC 1883 Ltd. It wouldn’t matter if BRFC was thriving but when the club is so short of cash it cannot function in the way a normal professional club of our size should then questions ought to be asked. Our former Finance Director Steve Brookfield may have an interesting view on this. |
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Post by wider on Feb 23, 2019 21:34:41 GMT
Is the oft quoted statement that ‘DS own BRFC 100% so it doesn’t really matter’ actually correct?
Don’t BRSC still own over 7% of BRFC and have a board director/s? Isn’t that where a lot of the friction started and why communication was “reigned in”?
Doesn’t this fairly substantial chunk of ownership by fans make the club far more difficult to dispose of / move on / reinvest in / whatever one wishes to call it?
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