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Post by Topper Gas on Mar 30, 2020 16:38:05 GMT
It's easy to say we need new owners but are you living in a hole or something as can't you see there are businesses going bust all over the UK, ones that were trading nicely until a month ago, where are these new owners suddenly going to spring from offering Wael £m's to sell up? Not sure what repeating the owners failing is supposed to achieve, we all know their failings, but continually listing them isn't going to change things, all we can hope his MS now brings spending down to a reasonable level, we seem to be heading in the right direction, and that Wael continues to support the debts as if he doesn't we're done for. As far as the training ground I understood that was owned by Dwane Developements so any money spent on that is down to the ALQ's nothing to do with BRFC1883. As far as the office in London have you any real proof it cost £250K? Does that figure include the two members of staff wages who worked out of there? As far as the loans if they hadn't been repaid they'd still be showing as debts on our accounts and always a danger they could be called in, which is where Oldham seem to be coming unstuck at present. The training ground is owned by Dwane Colony Ltd a Jersey company apparently owned by the Al Qadi family. At June 30th 2018 the BRFC 1883 Ltd accounts showed that Dwane Colony Ltd owed BRFC 1883 Ltd £ 198,799 for money spent on the training ground. The 2019 accounts are much shorter, 23 pages instead of 39, and do not disclose how much BRFC 1883 Ltd spent during the year on Dwane Colony Ltd’s training ground but the amount owed is now likely to be in excess of £ 300, 000. So Dwane Sports Ltd are lending money to BRFC 1883 Ltd and charging interest on it but some of that money is being spent on maintaining a Dwane Colony Ltd asset. Why will a debt incurring interest at 5% p.a. increase by 50% in 12 months, have you added an extra 0 and made it 50% just to make the figures seem more dramatic? I'm guessiny that £200K was for the infamous fencing so, apart from interest if it's being charged, that figure is unlikely to have increased as we know only to well no work has taken place on the land since the fence went up.
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Post by Topper Gas on Mar 30, 2020 16:43:11 GMT
Interesting points swissgas, and could it be that the 16 less pages might have also shown something else significant?, for instance who the other creditors are and how much they are each owed? In today's financial climate is it possible that any of the creditors are pressing hard for payment? even possibly through the courts?, and if so, are any pushing for a winding up order? Especially, as you point out, these accounts are virtually a year out of debt - so what is the picture now? - what is the real horror show? Wouldn't a legal action through the Courts or winding up petition be in the public domain by now, unless it was very recent? You've overlooked he's added several "?" so basically he's not actually saying anything.
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Post by knowall on Mar 30, 2020 19:39:40 GMT
Topper, you seem to have taken over as the fiercest defender of Wael Al-Qadi from gashead1981 which in itself is quite an admiral thing, and which could mean you know something the rest of us are unaware of. To give us all some confidence that you know what you are talking about, and are not Wael Al-Qadi or a member of the family in disguise why don't you tell us who you are? Swissgas and I and some others have let it be known who we are and why we hold the views we do, so why not you? Your view would then have some validity. As it is, you are just someone with an axe to grind but no qualifications to offer the opinions you do. Come out of the closet - or - frankly - SHUT UP.
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Post by Topper Gas on Mar 30, 2020 20:23:58 GMT
Topper, you seem to have taken over as the fiercest defender of Wael Al-Qadi from gashead1981 which in itself is quite an admiral thing, and which could mean you know something the rest of us are unaware of. To give us all some confidence that you know what you are talking about, and are not Wael Al-Qadi or a member of the family in disguise why don't you tell us who you are? Swissgas and I and some others have let it be known who we are and why we hold the views we do, so why not you? Your view would then have some validity. As it is, you are just someone with an axe to grind but no qualifications to offer the opinions you do. Come out of the closet - or - frankly - SHUT UP.s You seriously want to calm down or you'll be getting another warning, or even a ban this time. As far as qualification I understood all you need was a username and password to join this forum not a degree in Business Studies. As I've said to all of you ITK'ers what are your solutions to the problem, just posting that you don't like the way Wael is running the club isn't going to lead to a rich benefactor tuning up to take over the club, sadly, life doesn't work like that.
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Post by swissgas on Mar 30, 2020 20:37:14 GMT
The training ground is owned by Dwane Colony Ltd a Jersey company apparently owned by the Al Qadi family. At June 30th 2018 the BRFC 1883 Ltd accounts showed that Dwane Colony Ltd owed BRFC 1883 Ltd £ 198,799 for money spent on the training ground. The 2019 accounts are much shorter, 23 pages instead of 39, and do not disclose how much BRFC 1883 Ltd spent during the year on Dwane Colony Ltd’s training ground but the amount owed is now likely to be in excess of £ 300, 000. So Dwane Sports Ltd are lending money to BRFC 1883 Ltd and charging interest on it but some of that money is being spent on maintaining a Dwane Colony Ltd asset. Why will a debt incurring interest at 5% p.a. increase by 50% in 12 months, have you added an extra 0 and made it 50% just to make the figures seem more dramatic? I'm guessiny that £200K was for the infamous fencing so, apart from interest if it's being charged, that figure is unlikely to have increased as we know only to well no work has taken place on the land since the fence went up. Topper you are such a prolific poster on here no one can doubt that you are passionate about Rovers but please take a step back and see that there are many others of us who are equally passionate, have no hidden agenda, want to see the club prosper but who are not afraid to criticise. Most fans have no need to ever think much about how a company is run or how it's finances are organized so when it comes to Rovers they are quite content to take the attitude "let em get on with it" and wonder why on earth some of us seem to get so agitated. The reason is, as Gasincider said the other day, we care about the club. The accounts are appalling but what scares me more is the drastic reduction in information provided in 2019 coupled with Wael's open letter which IMO is weak, unimaginative and demonstrates he really has no idea how he is going to get us out of this mess. In previous years the accounts have always detailed transactions with related parties but this year they don't. Clearly people like Geoff Dunford, Ron Craig and Nick Higgs would want fellow fans to be able to see there was nothing untoward going on in dealings between Rovers and themselves and Dwane Sports carried on this tradition until these latest accounts. In 2017 an amount of £ 127 000 was paid by BRFC 1883 Ltd for work on the training ground which would have included the installation of the fence. In 2018 BRFC 1883 Ltd paid £ 71 000 for work on the training ground which one assumes would be for other maintenance and charges. The 2019 accounts make no mention of dealings between BRFC 1883 Ltd and Dwane Colony Ltd but it would be a fair assumption that during the year another £ 71 000 was spent on maintenance and charges and that only takes us up to June 2019. The point I'm making is that Dwane Sports are charging BRFC 1883 Ltd interest on monies which are being spent to maintain land owned by Dwane Colony Ltd. So while fans are contemplating how to help BRFC 1883 Ltd in these difficult times and Wael is appealing for us to buy season tickets early it appears that money is flowing out of BRFC to the benefit of Dwane Colony Ltd.
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Post by warehamgas on Mar 30, 2020 21:36:55 GMT
I always hesitate to post on these finance /ground related threads because others know far more about the background and the history of these finances. I appreciate knowall and Swiss giving us their experience of finances and respect the views they bring to the forums. I haven’t run a business but was responsible for overseeing educational budgets up to £1.5m and have some experience of setting, monitoring and ensuring a budget stays largely within limits,
So our position is that we are £24m in debt. My questions: 1. Why have our owners allowed that to happen without a plan to control expenditure? (If they have a plan it clearly isn’t working.) 2. At some stage with this size of debt I would have expected some serious cost-cutting measures to have been put in place to limit the losses. (If this has been done and the debts will be far less next year I apologise) 3. These debts are unsustainable. What is WAQs plan? (With the board being only WAQ and Starnes and the family cutting themselves out of our future I imagine some Walter Mitty fantasist, or Nero fiddling whilst Rome burns or whichever scenario you want to imagine. Just coming up with hairbrain schemes!) 4. Why haven’t there been in-year controls to monitor expenditure and control the size of the debt over the last years as the situation developed? (Surely that way any controls or limits being put in would have had an effect but that impact could have been far easier to live with rather than arriving at a debt of £24m and knowing that any controls being put in now will be stringent and likely to have a huge impact.) And lastly. 5. Is Dwayne Developments a security for BRFC or a danger to us? (istr when Southampton went bust in the late 2000s, the football club was ok but the holding company went bust thus causing Southampton to effectively go broke. Is BRFC a similar situation?)
With debts of this size, our future looks bleak. Whereas we might have been asking questions about the new ground or new training facilities in the past, now, I would have thought the future is more about survival. Even in my working life as leader I would be expected to be controlling losses and ensuring the integrity of the organisation. This appears completely absent from BRFC at the moment. Whilst it was good to hear from WAQ last week with a fairly positive message during this difficult time, the timing becomes a bit suspicious now following these accounts. Wow, debts of £24m, this has left me seriously worried for our future. Others may have different views! UTG!
ps. I don’t expect anyone to take the time to answer my questions. They were just the basic ones that I would have hoped someone leading BRFC might have been asking
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Post by blueridge on Mar 31, 2020 9:04:43 GMT
So simplistically - Dwane Sports (aka Wael-al-Qadi) is acting as an ‘agent’ for AJIB - he’s loaning Bristol Rovers (1883) Ltd money and charging interest and when the loan becomes unsustainable (which it already is) will ultimately be instructed by the Board of AJIB to call in the loan with the interest accrued. After this pandemic is over I can see a domino effect of EFL Clubs toppling over the edge - things are never going to be the same again and sadly we can do nothing about it. - we are well and truly f**ked as a football club
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Post by Topper Gas on Mar 31, 2020 13:16:11 GMT
So simplistically - Dwane Sports (aka Wael-al-Qadi) is acting as an ‘agent’ for AJIB - he’s loaning Bristol Rovers (1883) Ltd money and charging interest and when the loan becomes unsustainable (which it already is) will ultimately be instructed by the Board of AJIB to call in the loan with the interest accrued. After this pandemic is over I can see a domino effect of EFL Clubs toppling over the edge - things are never going to be the same again and sadly we can do nothing about it. - we are well and truly f**ked as a football club A bit to simplistic as we've simply no idea where the money is coming from it could be AJIB's, it could be the ALQ's own personal money, or it could be another financial institution. If it the ALQ's own money there's no real reason we can't survive.
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Post by darkbluegas on Mar 31, 2020 13:25:53 GMT
Why will a debt incurring interest at 5% p.a. increase by 50% in 12 months, have you added an extra 0 and made it 50% just to make the figures seem more dramatic? I'm guessiny that £200K was for the infamous fencing so, apart from interest if it's being charged, that figure is unlikely to have increased as we know only to well no work has taken place on the land since the fence went up. Topper you are such a prolific poster on here no one can doubt that you are passionate about Rovers but please take a step back and see that there are many others of us who are equally passionate, have no hidden agenda, want to see the club prosper but who are not afraid to criticise. Most fans have no need to ever think much about how a company is run or how it's finances are organized so when it comes to Rovers they are quite content to take the attitude "let em get on with it" and wonder why on earth some of us seem to get so agitated. The reason is, as Gasincider said the other day, we care about the club. The accounts are appalling but what scares me more is the drastic reduction in information provided in 2019 coupled with Wael's open letter which IMO is weak, unimaginative and demonstrates he really has no idea how he is going to get us out of this mess. In previous years the accounts have always detailed transactions with related parties but this year they don't. Clearly people like Geoff Dunford, Ron Craig and Nick Higgs would want fellow fans to be able to see there was nothing untoward going on in dealings between Rovers and themselves and Dwane Sports carried on this tradition until these latest accounts. In 2017 an amount of £ 127 000 was paid by BRFC 1883 Ltd for work on the training ground which would have included the installation of the fence. In 2018 BRFC 1883 Ltd paid £ 71 000 for work on the training ground which one assumes would be for other maintenance and charges. The 2019 accounts make no mention of dealings between BRFC 1883 Ltd and Dwane Colony Ltd but it would be a fair assumption that during the year another £ 71 000 was spent on maintenance and charges and that only takes us up to June 2019. The point I'm making is that Dwane Sports are charging BRFC 1883 Ltd interest on monies which are being spent to maintain land owned by Dwane Colony Ltd. So while fans are contemplating how to help BRFC 1883 Ltd in these difficult times and Wael is appealing for us to buy season tickets early it appears that money is flowing out of BRFC to the benefit of Dwane Colony Ltd. I think Wael’s plan is to run the club down to a low turnover, low loss minimal risk organisation. Just my reading of the events since talk of take overs and fantasy stadiums died a death
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Post by Topper Gas on Mar 31, 2020 13:29:52 GMT
Why will a debt incurring interest at 5% p.a. increase by 50% in 12 months, have you added an extra 0 and made it 50% just to make the figures seem more dramatic? I'm guessiny that £200K was for the infamous fencing so, apart from interest if it's being charged, that figure is unlikely to have increased as we know only to well no work has taken place on the land since the fence went up. Topper you are such a prolific poster on here no one can doubt that you are passionate about Rovers but please take a step back and see that there are many others of us who are equally passionate, have no hidden agenda, want to see the club prosper but who are not afraid to criticise. Most fans have no need to ever think much about how a company is run or how it's finances are organized so when it comes to Rovers they are quite content to take the attitude "let em get on with it" and wonder why on earth some of us seem to get so agitated. The reason is, as Gasincider said the other day, we care about the club. The accounts are appalling but what scares me more is the drastic reduction in information provided in 2019 coupled with Wael's open letter which IMO is weak, unimaginative and demonstrates he really has no idea how he is going to get us out of this mess. In previous years the accounts have always detailed transactions with related parties but this year they don't. Clearly people like Geoff Dunford, Ron Craig and Nick Higgs would want fellow fans to be able to see there was nothing untoward going on in dealings between Rovers and themselves and Dwane Sports carried on this tradition until these latest accounts. In 2017 an amount of £ 127 000 was paid by BRFC 1883 Ltd for work on the training ground which would have included the installation of the fence. In 2018 BRFC 1883 Ltd paid £ 71 000 for work on the training ground which one assumes would be for other maintenance and charges. The 2019 accounts make no mention of dealings between BRFC 1883 Ltd and Dwane Colony Ltd but it would be a fair assumption that during the year another £ 71 000 was spent on maintenance and charges and that only takes us up to June 2019. The point I'm making is that Dwane Sports are charging BRFC 1883 Ltd interest on monies which are being spent to maintain land owned by Dwane Colony Ltd. So while fans are contemplating how to help BRFC 1883 Ltd in these difficult times and Wael is appealing for us to buy season tickets early it appears that money is flowing out of BRFC to the benefit of Dwane Colony Ltd. Again plenty of words but no solutions, as far as assuming another £71K was spent at the colony you've no real proof, are you seriously suggesting we should start a revolt against Wael because you're guess they might have spent £71K but have no proof, that's what concerns me about you 3, you just make things up on the hoof to fit an agenda, if you stuck the facts we can all see you might have some credence. Although if you did you still don't have a plan of action anyway any fans could support.
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Post by RD on Mar 31, 2020 14:28:18 GMT
Topper, you seem to have taken over as the fiercest defender of Wael Al-Qadi from gashead1981 which in itself is quite an admiral thing, and which could mean you know something the rest of us are unaware of. To give us all some confidence that you know what you are talking about, and are not Wael Al-Qadi or a member of the family in disguise why don't you tell us who you are? Swissgas and I and some others have let it be known who we are and why we hold the views we do, so why not you? Your view would then have some validity. As it is, you are just someone with an axe to grind but no qualifications to offer the opinions you do. Come out of the closet - or - frankly - SHUT UP. Is this a f**king joke? You're having a laugh aren't you? What a hypocritical piece of work you are. WUM.
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Post by pucklegas on Mar 31, 2020 19:18:19 GMT
Topper, you seem to have taken over as the fiercest defender of Wael Al-Qadi from gashead1981 which in itself is quite an admiral thing, and which could mean you know something the rest of us are unaware of. To give us all some confidence that you know what you are talking about, and are not Wael Al-Qadi or a member of the family in disguise why don't you tell us who you are? Swissgas and I and some others have let it be known who we are and why we hold the views we do, so why not you? Your view would then have some validity. As it is, you are just someone with an axe to grind but no qualifications to offer the opinions you do. Come out of the closet - or - frankly - SHUT UP. Is this a f**king joke? You're having a laugh aren't you? What a hypocritical piece of work you are. WUM. He s quite spikey for an old bloke 😂 we were supposed to getting our club back he said .............
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Post by swissgas on Mar 31, 2020 20:22:02 GMT
Topper you are such a prolific poster on here no one can doubt that you are passionate about Rovers but please take a step back and see that there are many others of us who are equally passionate, have no hidden agenda, want to see the club prosper but who are not afraid to criticise. Most fans have no need to ever think much about how a company is run or how it's finances are organized so when it comes to Rovers they are quite content to take the attitude "let em get on with it" and wonder why on earth some of us seem to get so agitated. The reason is, as Gasincider said the other day, we care about the club. The accounts are appalling but what scares me more is the drastic reduction in information provided in 2019 coupled with Wael's open letter which IMO is weak, unimaginative and demonstrates he really has no idea how he is going to get us out of this mess. In previous years the accounts have always detailed transactions with related parties but this year they don't. Clearly people like Geoff Dunford, Ron Craig and Nick Higgs would want fellow fans to be able to see there was nothing untoward going on in dealings between Rovers and themselves and Dwane Sports carried on this tradition until these latest accounts. In 2017 an amount of £ 127 000 was paid by BRFC 1883 Ltd for work on the training ground which would have included the installation of the fence. In 2018 BRFC 1883 Ltd paid £ 71 000 for work on the training ground which one assumes would be for other maintenance and charges. The 2019 accounts make no mention of dealings between BRFC 1883 Ltd and Dwane Colony Ltd but it would be a fair assumption that during the year another £ 71 000 was spent on maintenance and charges and that only takes us up to June 2019. The point I'm making is that Dwane Sports are charging BRFC 1883 Ltd interest on monies which are being spent to maintain land owned by Dwane Colony Ltd. So while fans are contemplating how to help BRFC 1883 Ltd in these difficult times and Wael is appealing for us to buy season tickets early it appears that money is flowing out of BRFC to the benefit of Dwane Colony Ltd. Again plenty of words but no solutions, as far as assuming another £71K was spent at the colony you've no real proof, are you seriously suggesting we should start a revolt against Wael because you're guess they might have spent £71K but have no proof, that's what concerns me about you 3, you just make things up on the hoof to fit an agenda, if you stuck the facts we can all see you might have some credence. Although if you did you still don't have a plan of action anyway any fans could support. There is proof that BRFC paid £ 127 000 in 2017 and £ 71 000 in 2018 but no proof of what was spent in 2019 because the details are no longer disclosed in the accounts. I'm expecting your fall back position will be "it's their money they can do what they like with it" but how do you square that with the appeal for fans to help the club at this difficult time ? If you were going to ask you're supporters for financial help wouldn't the first thing you do be to make sure there was no hint of you using the club's cash to finance one of your other businesses ? The solution is to speak out when confronted by contradictions like this and show Wael that if he wants the support of fans he has to be straight with us.
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Post by swissgas on Mar 31, 2020 20:52:24 GMT
I always hesitate to post on these finance /ground related threads because others know far more about the background and the history of these finances. I appreciate knowall and Swiss giving us their experience of finances and respect the views they bring to the forums. I haven’t run a business but was responsible for overseeing educational budgets up to £1.5m and have some experience of setting, monitoring and ensuring a budget stays largely within limits, So our position is that we are £24m in debt. My questions: 1. Why have our owners allowed that to happen without a plan to control expenditure? (If they have a plan it clearly isn’t working.) 2. At some stage with this size of debt I would have expected some serious cost-cutting measures to have been put in place to limit the losses. (If this has been done and the debts will be far less next year I apologise) 3. These debts are unsustainable. What is WAQs plan? (With the board being only WAQ and Starnes and the family cutting themselves out of our future I imagine some Walter Mitty fantasist, or Nero fiddling whilst Rome burns or whichever scenario you want to imagine. Just coming up with hairbrain schemes!) 4. Why haven’t there been in-year controls to monitor expenditure and control the size of the debt over the last years as the situation developed? (Surely that way any controls or limits being put in would have had an effect but that impact could have been far easier to live with rather than arriving at a debt of £24m and knowing that any controls being put in now will be stringent and likely to have a huge impact.) And lastly. 5. Is Dwayne Developments a security for BRFC or a danger to us? (istr when Southampton went bust in the late 2000s, the football club was ok but the holding company went bust thus causing Southampton to effectively go broke. Is BRFC a similar situation?) With debts of this size, our future looks bleak. Whereas we might have been asking questions about the new ground or new training facilities in the past, now, I would have thought the future is more about survival. Even in my working life as leader I would be expected to be controlling losses and ensuring the integrity of the organisation. This appears completely absent from BRFC at the moment. Whilst it was good to hear from WAQ last week with a fairly positive message during this difficult time, the timing becomes a bit suspicious now following these accounts. Wow, debts of £24m, this has left me seriously worried for our future. Others may have different views! UTG! ps. I don’t expect anyone to take the time to answer my questions. They were just the basic ones that I would have hoped someone leading BRFC might have been asking I would hazard a guess that when you were leading that school and responsible for the £ 1.5 million budget you took your responsibilities seriously. If you found you were failing you would expect all your stakeholders, pupils, parents, teachers, Governors, inspectors etc to question you about what was happening and to insist on knowing what you planned to do to put things right. Two things come out of that premise. Firstly, the knowledge that your stakeholders would be monitoring your performance would act as a spur to keep you on your toes and make sure you tried to carry out your job to the best of your ability. Secondly, once the stakeholders knew you were doing your best and giving them an honest assessment of the situation they would very likely provide even greater support because your success would be in everyone's best interests. At Rovers we seem to think it is being disrespectful to question our leaders performance so most fans shy away from criticism and hope for the best. We put up with our leaders being inconsistent, ineffective and secretive and yet wonder so many serious people, who's support could have been crucial to achieving success, choose not to have dealings with the club. In this era it started with Michael Cunnah and Lee Atkins, went through UWE, South Gloucestershire Council, Evans Jones Surveyors, Bristol City Council, The Fruit Market Developers, Clive Richardson & Partners, Mike Turner and now has reached the "two prominent Bristol businessmen". Is this just a coincidence ? Are our leaders right and all these people wrong ? Or is it the time for mainstream fans to start considering whether questioning and criticism might have an impact because "letting em get on with it" clearly doesn't work.
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Deleted
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Post by Deleted on Mar 31, 2020 21:19:29 GMT
How i look at it is we are one of about 70 clubs that rely on the owners to keep them afloat while racking up losses. Do bristol city,portsmouth,sundeland,forest green etc etc fans have these endless debates?
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Post by blueridge on Apr 1, 2020 6:11:43 GMT
So simplistically - Dwane Sports (aka Wael-al-Qadi) is acting as an ‘agent’ for AJIB - he’s loaning Bristol Rovers (1883) Ltd money and charging interest and when the loan becomes unsustainable (which it already is) will ultimately be instructed by the Board of AJIB to call in the loan with the interest accrued. After this pandemic is over I can see a domino effect of EFL Clubs toppling over the edge - things are never going to be the same again and sadly we can do nothing about it. - we are well and truly f**ked as a football club A bit to simplistic as we've simply no idea where the money is coming from it could be AJIB's, it could be the ALQ's own personal money, or it could be another financial institution. If it the ALQ's own money there's no real reason we can't survive. It doesn’t matter where the money is coming from - it’s still a loan, interest is being charged on it and ultimately it will need to be paid back - we are owned by a Banking Family - banks (bankers) do not give money away. Small banks (like AJIB with the ALQ’s 30% (ish) shareholding) and the travel & tourism side of their business could quite possibly be delivered a fatal blow with what’s going on now - our Club (with this relatively huge debt) IMO, is now more vulnerable to collapse than its ever been in its 127 year history.
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Marshy
Proper Gas
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Post by Marshy on Apr 1, 2020 8:36:29 GMT
A bit to simplistic as we've simply no idea where the money is coming from it could be AJIB's, it could be the ALQ's own personal money, or it could be another financial institution. If it the ALQ's own money there's no real reason we can't survive. It doesn’t matter where the money is coming from - it’s still a loan, interest is being charged on it and ultimately it will need to be paid back - we are owned by a Banking Family - banks (bankers) do not give money away. Small banks (like AJIB with the ALQ’s 30% (ish) shareholding) and the travel & tourism side of their business could quite possibly be delivered a fatal blow with what’s going on now - our Club (with this relatively huge debt) IMO, is now more vulnerable to collapse than its ever been in its 127 year history. Where did we lose 10 years of our history from?
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Post by blueridge on Apr 1, 2020 8:46:47 GMT
It doesn’t matter where the money is coming from - it’s still a loan, interest is being charged on it and ultimately it will need to be paid back - we are owned by a Banking Family - banks (bankers) do not give money away. Small banks (like AJIB with the ALQ’s 30% (ish) shareholding) and the travel & tourism side of their business could quite possibly be delivered a fatal blow with what’s going on now - our Club (with this relatively huge debt) IMO, is now more vulnerable to collapse than its ever been in its 127 year history. Where did we lose 10 years of our history from? Good spot - nice one 😉
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Post by Antonio Fargas on Apr 1, 2020 8:48:57 GMT
It doesn’t matter where the money is coming from - it’s still a loan, interest is being charged on it and ultimately it will need to be paid back - we are owned by a Banking Family - banks (bankers) do not give money away. Small banks (like AJIB with the ALQ’s 30% (ish) shareholding) and the travel & tourism side of their business could quite possibly be delivered a fatal blow with what’s going on now - our Club (with this relatively huge debt) IMO, is now more vulnerable to collapse than its ever been in its 127 year history. Where did we lose 10 years of our history from? Was it a Watola accounting error?
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Post by Dirt Dogg on Apr 1, 2020 9:17:03 GMT
Looks like we need abit of Glasnost & Perestroika down the Mem.
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