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Post by parsonstgas on Mar 7, 2015 7:34:01 GMT
Good article I thought, the state of the clubs finances does worry me and many others, why wouldn't it?
Nick Higgs is nobody's fool, the problem is he does such a good impression of one he scares me to death, I still cannot forget the recent comment that he'd achieved everything he wanted at the club in the last 8 years??
Also for those knocking the article, it's perfectly possible to support the team and manager wholeheartedly whilst attempting to hold the board to account.
The days of blind faith in them are long gone in my book.
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Post by Topper Gas on Mar 7, 2015 8:17:25 GMT
It's odd you are happy to criticise our club each week but feel insulted when the shoe is on the other foot. If you are a genuine fan why are you so happy to contrate so much of your time on the negatives each week in our local press? Most genuine fans at the moment are looking forward to tomorrow's game not worrying about the MCP loan (incidentally couldn't you even get the loan value correct?) or May's court case but what do we get in tonight's local rag, a gutter press type headline implying the BoD are scroungers, it really is beyond belief. Sorry. This is not my day job and I was unaware the club was taking an even bigger risk by borrowing double the amount of money I suggested with even more to pay back each month. I shall now pluck out my eyes, forget everything I know and see, and follow the club blindly as others choose to do... after all, that's the way of a genuine supporter, I guess. Actually, it wasn't my decision to hold the AGM and reveal such shocking information just before one of our biggest games of the season But this wasn't breaking news we'd all missed as James M covered the AGM in the B Post earlier this week? From reading your blogs it seems like you have an hidden agenda against NH, which flows into a dislike of the club itself. Sorry if that offends you but that's how you are coming over to me. Have a look yourself at your blogs, how many positive/negative ones have you published in the last 6 months?? This during a period when we have at last got some success on the pitch to enjoy. |
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Post by Deleted on Mar 7, 2015 8:46:08 GMT
I don't see how you can compare the clubs position to benefit street as I am not aware the club has asked for public money. The club is in a difficult position through no fault of their own and have made been forced to make difficult decisions as a result. What would you have the club do, would you like them to just let Sainsbury's walk all over us.
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Post by Deleted on Mar 7, 2015 8:57:26 GMT
I don't see how you can compare the clubs position to benefit street as I am not aware the club has asked for public money. The club is in a difficult position through no fault of their own and have made been forced difficult decisions as a result. What would you have the club do, would you like them to just let Sainsbury's walk all over us. Through no fault of their own? Whos fault is it then? We have been losing money/over spending/under achieving/getting relegated/racking up debt for a lot longer than Sainsburies/Trash have been on the scene. I support the board and I don't want them to go but only a madman would fail to see we need to run a tighter ship than we have the last 10yrs. |
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Post by Deleted on Mar 7, 2015 9:21:40 GMT
I don't see how you can compare the clubs position to benefit street as I am not aware the club has asked for public money. The club is in a difficult position through no fault of their own and have made been forced to make difficult decisions as a result. What would you have the club do, would you like them to just let Sainsbury's walk all over us. Through no fault of their own? Whos fault is it then? We have been losing money/over spending/under achieving/getting relegated/racking up debt for a lot longer than Sainsburies/Trash have been on the scene. I support the board and I don't want them to go but only a madman would fail to see we need to run a tighter ship than we have the last 10yrs. Sorry Hugo I should have been clearer I meant the position regarding the court case. I read in the post that Higgs said they needed to take the loan to prevent Sainsbury's waiting us out and walking away. We all know the failings of the board in the past and hopefully that is being addressed. I was talking in the here and now and I meant that it is not Rovers fault that Sainsbury's do not now want to buy the Mem. imo |
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Post by buckrippers on Mar 7, 2015 13:23:35 GMT
Through no fault of their own? Whos fault is it then? We have been losing money/over spending/under achieving/getting relegated/racking up debt for a lot longer than Sainsburies/Trash have been on the scene. I support the board and I don't want them to go but only a madman would fail to see we need to run a tighter ship than we have the last 10yrs. Sorry Hugo I should have been clearer I meant the position regarding the court case. I read in the post that Higgs said they needed to take the loan to prevent Sainsbury's waiting us out and walking away. We all know the failings of the board in the past and hopefully that is being addressed. I was talking in the here and now and I meant that it is not Rovers fault that Sainsbury's do not now want to buy the Mem. imo There was a cheaper alternative which involved Mr Higgs loaning more money to the club, but he preferred to put us in hock. Royal Blue, when I talk about Benefits Street I am just suggesting it's people who are desperate for cash and handouts that have to go to these high-interest loan companies... like those in the programme |
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Post by gashead1981 on Mar 7, 2015 15:12:00 GMT
Nick is a journo and does this for free so he keeps telling us. Negative spin sells column inches, its the way the news rag industry works.
I am sure its not a coincidence that 90% of his articles are negative, have a negative connotation or could be read both ways. In any case, I have given up reading Mr Rippingtons column a good while ago, however insightful he thinks he is being, its still only his opinion, dressed in a way to suck people into reading, and some of us Rovers fans love a negative line to get our teeth into.
Its just got boring and is no longer for me.
Cue a more positive blog from Mr Rippington next week.
Yes we have borrowed the money at a large rate, but as its secured against the £38m Higgs sold Cowlin for half of which is probably in a high interest off shore account, I suspect that sum is growing more than the 1.2% we are losing per month in interest and the fact Higgs and the board feel we are nailed onto win it means Sainsburys will pick up the tab in any case. And if we dont, then I am sure Higgs is going to underwrite as im pretty sure he wouldnt have done it otherwise.
I would imagine that there are other financial tax implications to the club recieving a few million injection in the middle of a tax year, I doubt very much is some blase move done in haste but one which would have been carefully considered.
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Post by peterhooper57 on Mar 7, 2015 18:56:14 GMT
I must say, I know nothing about the risks associated with the £2M loan; however, what I do know if the judge sides with Sainsburys in May, our Directors may well have put our club in a bit of a moody problem. I just pray this all works out, and Box 1 know what they are up too. UTG
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Post by aghast on Mar 7, 2015 21:22:07 GMT
Nick is a journo and does this for free so he keeps telling us. Negative spin sells column inches, its the way the news rag industry works. I am sure its not a coincidence that 90% of his articles are negative, have a negative connotation or could be read both ways. In any case, I have given up reading Mr Rippingtons column a good while ago, however insightful he thinks he is being, its still only his opinion, dressed in a way to suck people into reading, and some of us Rovers fans love a negative line to get our teeth into. Its just got boring and is no longer for me. Cue a more positive blog from Mr Rippington next week. I'm not really sure you should be criticising his blogs if you don't actually read them nowadays. Unless you are basing your opinions solely on what others might be saying on here about them. Probably best to actually read the full article and then comment. Just saying like. |
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Post by Topper Gas on Mar 7, 2015 22:08:35 GMT
I don't see how you can compare the clubs position to benefit street as I am not aware the club has asked for public money. The club is in a difficult position through no fault of their own and have made been forced difficult decisions as a result. What would you have the club do, would you like them to just let Sainsbury's walk all over us. Through no fault of their own? Whos fault is it then? We have been losing money/over spending/under achieving/getting relegated/racking up debt for a lot longer than Sainsburies/Trash have been on the scene. I support the board and I don't want them to go but only a madman would fail to see we need to run a tighter ship than we have the last 10yrs. Which we've surely been doing recently? As far as the OP suggesting NH loaned the club another £2m, why should he keep lending the club money and how do we know he's got another £2m he can lend, as he's hardly Pantsdown wealth wise. |
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Post by Mark Ash on Mar 7, 2015 22:25:55 GMT
Through no fault of their own? Whos fault is it then? We have been losing money/over spending/under achieving/getting relegated/racking up debt for a lot longer than Sainsburies/Trash have been on the scene. I support the board and I don't want them to go but only a madman would fail to see we need to run a tighter ship than we have the last 10yrs. Which we've surely been doing recently? As far as the OP suggesting NH loaned the club another £2m, why should he keep lending the club money and how do we know he's got another £2m he can lend, as he's hardly Pantsdown wealth wise. As was said the other day, it's hard to see what directors lose, or risk, by lending the club money. Why shouldn't he? The greater issue is how they spend their own money in the club's name. If their professional judgement turns out to be wrong, as directors, should they be able to take the money back, as lenders? Or have they blown their own money? Does the club exist in itself, or only as some kind of giant video game for them? |
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Post by Topper Gas on Mar 8, 2015 9:33:31 GMT
If Rovers fail to win the court case and go into administration surely there's a big chance they'll never get all their money back?
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Post by newmarketgas on Mar 8, 2015 9:47:05 GMT
If Rovers win and Sainsbury get hit for expenses, I am sure we have a better chance of the judge demanding the loan be paid by them , than the judge demanding they simply give Mr Higgs £2m because he covered the cost.
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Post by Deleted on Mar 8, 2015 9:50:40 GMT
If Rovers fail to win the court case and go into administration surely there's a big chance they'll never get all their money back? So, You think NH is not as confident as he says in public? That perhaps the contract is not "watertight"? I do not understand why any director would encumber his company with onerous loans if they are confident of their position and their shareholders have the funds available and are willing? It makes no sense whatsoever. |
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Post by Deleted on Mar 8, 2015 9:51:33 GMT
If Rovers win and Sainsbury get hit for expenses, I am sure we have a better chance of the judge demanding the loan be paid by them , than the judge demanding they simply give Mr Higgs £2m because he covered the cost. Wrong |
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Post by newmarketgas on Mar 8, 2015 10:27:42 GMT
Try proving a hand out and try proving a loan , one is so much easier than the other!
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Post by Deleted on Mar 8, 2015 12:21:46 GMT
Try proving a hand out and try proving a loan , one is so much easier than the other! You can loan money to your own company and register this with companies house as an official document. Honestly, you can. |
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Post by markczgas on Mar 8, 2015 13:16:34 GMT
Nick is a journo and does this for free so he keeps telling us. Negative spin sells column inches, its the way the news rag industry works. I am sure its not a coincidence that 90% of his articles are negative, have a negative connotation or could be read both ways. In any case, I have given up reading Mr Rippingtons column a good while ago, however insightful he thinks he is being, its still only his opinion, dressed in a way to suck people into reading, and some of us Rovers fans love a negative line to get our teeth into. Its just got boring and is no longer for me. Cue a more positive blog from Mr Rippington next week. Yes we have borrowed the money at a large rate, but as its secured against the £38m Higgs sold Cowlin for half of which is probably in a high interest off shore account, I suspect that sum is growing more than the 1.2% we are losing per month in interest and the fact Higgs and the board feel we are nailed onto win it means Sainsburys will pick up the tab in any case. And if we dont, then I am sure Higgs is going to underwrite as im pretty sure he wouldnt have done it otherwise. I would imagine that there are other financial tax implications to the club recieving a few million injection in the middle of a tax year, I doubt very much is some blase move done in haste but one which would have been carefully considered. We have Mehew who is positive and Bucks who is negative - don't know if that is intentional - but a good balance - use your brains and workout your own viewpoint and get off their backs !! |
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Post by newmarketgas on Mar 8, 2015 13:36:59 GMT
Oldie, and lose your high interest on your capital? Why not get Sainsbury to pay interest on the loan, they might argue the rates with a hand out.
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Post by Deleted on Mar 8, 2015 16:10:39 GMT
Oldie, and lose your high interest on your capital? Why not get Sainsbury to pay interest on the loan, they might argue the rates with a hand out. I am sure that makes sense to somebody |
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