Deleted
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Post by Deleted on Jul 13, 2015 14:34:33 GMT
I'm sure that any serious investor, if there is one, will be talking to UWE now about building the new stadium. The value of BRFC and Higgs shares today fell to the same value as Greece. Any investor who tried to buy Rovers yesterday would have had to pay a premium, that has now been wiped out. If a dragon came forward and said, "I will fund the new stadium and secure the future of the club but the current owners need to walk away" what will be the fans and more importantly Higgs reaction be? As I already said they could sell all or some now with a further payment if the appeal is successful. It really isn't rocket science. Agreed but do you believe that it will go to appeal? If it does then I think that Higgs will be on his own with it. Rodney was the first to jump ship.
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Peter Parker
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Post by Peter Parker on Jul 13, 2015 14:41:21 GMT
As I already said they could sell all or some now with a further payment if the appeal is successful. It really isn't rocket science. Agreed but do you believe that it will go to appeal? If it does then I think that Higgs will be on his own with it. Rodney was the first to jump ship. Geoff was wasn't he?
I think Geoff probably thought chasing this was folly
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Deleted
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Post by Deleted on Jul 13, 2015 14:48:19 GMT
Agreed but do you believe that it will go to appeal? If it does then I think that Higgs will be on his own with it. Rodney was the first to jump ship. Geoff was wasn't he?
I think Geoff probably thought chasing this was folly
I stand corrected, you are correct.
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dagnogo
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Post by dagnogo on Jul 13, 2015 14:48:23 GMT
If a dragon came forward and said, "I will fund the new stadium and secure the future of the club but the current owners need to walk away" what will be the fans and more importantly Higgs reaction be? Higgs' reaction I reckon would be, I'm going nowhere without getting back the money that my mistakes, over a period of many years, have cost. Dragon hands over a business card, walks out and waits for Higgs to realise that he's bankrupting not only our club but also himself. Except they weren't mistakes, but the result of conspiracies by Wycombe, Opal, Kevin S, and the fans. Nick doesn't make mistakes abd isn't at fault, remember?
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alwaysgas
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Post by alwaysgas on Jul 13, 2015 14:52:37 GMT
As I already said they could sell all or some now with a further payment if the appeal is successful. It really isn't rocket science. Agreed but do you believe that it will go to appeal? If it does then I think that Higgs will be on his own with it. Rodney was the first to jump ship. I have no idea, but if the legal advice is strong then he might feel that spending £250K to possibly gain another £5M is worth it. Either way he could make his own mind up and it wouldn't impact on the club.
The main thing is the verdict has just come in and no competent business person would make a decision on the next steps without getting legal advice and making decisions after the heat of the moment has passed.
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Post by Deleted on Jul 13, 2015 14:52:38 GMT
Geoff was wasn't he?
I think Geoff probably thought chasing this was folly
I stand corrected, you are correct. Don't do Twitter, has Geoff had anything to say today?
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Deleted
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Post by Deleted on Jul 13, 2015 14:59:32 GMT
I stand corrected, you are correct. Don't do Twitter, has Geoff had anything to say today? Something about being shocked by the decision and not knowing where the money for the future is going to come from. Not sure if he meant for BRFC or his pension though.
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Post by manchestergas on Jul 13, 2015 15:01:50 GMT
From GD's Twitter feed:
Geoff Dunford @geoffdunford 4h4 hours ago @douggas The club will survive Doug. Too many good supporters. However where is the money coming from? This decision was not even close!
Geoff Dunford @geoffdunford 5h5 hours ago I am totally shocked at the judgment today. What is plan B ? Where does the club go from here? #UTG
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Post by Curly Wurly on Jul 13, 2015 15:05:19 GMT
I cant see it in this thread but here is the link to Mr Higgs interview that you can watch - www.bbc.co.uk/sport/0/football/33508088I note that he mentions if we appeal it wont affect Darrell's budget. But Darrell has said it does impact his budget. Who do we believe? Thanks for posting this. Naively, I feel heartened by the Chairman's interview and £500k legal costs to date are not as bad as I had expected. My fear is that he is being told what he wants to hear from the legal team, who stand to gain further from an appeal. The folly of the legal action in the Wycombe case makes me worry about the impartiality of the legal advice he is receiving.
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Peter Parker
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Post by Peter Parker on Jul 13, 2015 15:09:25 GMT
From GD's Twitter feed: Geoff Dunford @geoffdunford 4h4 hours ago @douggas The club will survive Doug. Too many good supporters. However where is the money coming from? This decision was not even close! Geoff Dunford @geoffdunford 5h5 hours ago I am totally shocked at the judgment today. What is plan B ? Where does the club go from here? #UTG Interesting that Geoff says it wasn't even close. Doesn't quite jive with The Chairman's take does it
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Post by Deleted on Jul 13, 2015 15:10:48 GMT
I cant see it in this thread but here is the link to Mr Higgs interview that you can watch - www.bbc.co.uk/sport/0/football/33508088I note that he mentions if we appeal it wont affect Darrell's budget. But Darrell has said it does impact his budget. Who do we believe? Thanks for posting this. Naively, I feel heartened by the Chairman's interview and £500k legal costs to date are not as bad as I had expected. My fear is that he is being told what he wants to hear from the legal team, who stand to gain further from an appeal. The folly of the legal action in the Wycombe case makes me worry about the impartiality of the legal advice he is receiving. I worry about his propensity to listen to the legal advice he receives
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Post by drgashead on Jul 13, 2015 15:20:20 GMT
Live footage from the Mem. The Board are off to London to discuss appeal with their legal team: Unfortunately Brian and Ken miss the departure. But at least Boycie has kitted them out in some smart branded gear. Hats off to the commercial director I say.
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Post by Topper Gas on Jul 13, 2015 15:23:52 GMT
Costs have still to be decided whilst ours might be £500K we might still get lumbered with Sainsbury's costs? Given "it wasn't even close" who decided it was worthwhile spending £500K/£1m fighting this case?? Also did NH lie to the courts when he said the UWE wouldn't wait as there are no signs they are about to pull out?
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Post by beechesgas on Jul 13, 2015 15:36:11 GMT
The advice he's had is we have very strong grounds of appeal. That's not the same bunch of lawyers who either drew up the contract or subsequently told us not to worry because it was watertight is it?
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Post by Deleted on Jul 13, 2015 15:38:28 GMT
Costs have still to be decided whilst ours might be £500K we might still get lumbered with Sainsbury's costs? Given "it wasn't even close" who decided it was worthwhile spending £500K/£1m fighting this case?? Also did NH lie to the courts when he said the UWE wouldn't wait as there are no signs they are about to pull out? UWE won't pull out until they have another confirmed option. Hopefully they aren't able to sue for losses if Higgs can't fulfil the contract.
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Post by Deleted on Jul 13, 2015 15:42:25 GMT
Hopefully they aren't able to sue for losses if Higgs can't fulfil the contract. The people running UWE are serious professionals, they will have alternative plans, they won't spend today crying into their coffee and looking for someone to blame.
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Post by gasheadnaboo on Jul 13, 2015 15:43:15 GMT
We could blame Darrell Clarke if Rovers went bust, he was at Salisbury after all...
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irishrover
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Post by irishrover on Jul 13, 2015 16:18:59 GMT
I couldn't really care less whether Higgs stays on as Chairman or not, I am not in the headhunting business and it remains to be seen whether getting rid of a guy who is going to remain heavily invested (assuming there isn't a saviour waiting in the wings which seems for the birds as usual) actually makes that much sense. If he's determined to see it out to the bitter end then it's very much his baby and it will be his legacy if there's no club at the end of it too. But I have had enough; Higgs regime has been nothing more than hot air and failed promises. If the most charitable thing that can be said for the man is that he's been unlucky that is hardly a ringing endorsement of his leadership skills or capacity to deliver. Ultimately you are judged on results and his look pretty awful;
-Relegation out of the league for the first time in history. -The running up of record debts. -The collapse of not one but two stadium projects. -Pushing the club to the position where is it is described as being 'no longer solvent'. Argue about the legalise and the details but what is indisputable is that the finances are completely f**ked right now.
I think a lot of people's objection was similar to mine - that this project gambled the whole future of the club. Well, we seem to have lost and apparently they are now going to gamble what remains of the club on what looks like a pretty unlikely appeal if UWE let them (I think UWE may well cut their losses at this point). That's one hell of a legacy.
All of that is assuming there is no plan B - but Higgs did not look or sound like a man with a plan. He looked and sounded like a broken man. I take no pleasure - this is a disastrous day for him and for Rovers.
I liked the comparisons with Churchill in the other thread - I'm afraid at this stage General Custer or Lord Cardigan are better comparisons. Ambition is not enough - you need nouse, judgement and luck and I'm not sure Nick Higgs has shown evidence of any of those things as Chairman of Bristol Rovers. What he has shown is a depressing tendency to attribute blame downwards and outwards - it's always someone else's fault. The report might be pretty damning of Sainsbury's but it's also pretty damning of Rovers too - because what it's saying is we weren't sharp enough to realise we were being duped.
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Post by matealotblue on Jul 13, 2015 17:13:35 GMT
Just seen it on ITV. What I couldn't understand is that he said his legal advice said there was good grounds for appeal. Is this the same legal advice that said there was a good chance of success in the original legal action?
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Post by fanatical on Jul 13, 2015 17:19:30 GMT
Just seen it on ITV. What I couldn't understand is that he said his legal advice said there was good grounds for appeal. Is this the same legal advice that said there was a good chance of success in the original legal action? yes it will be and that is why there are often appeals against judgements - REMEMBER - so far we only have the opinion of ONE judge - another may have come to a different opinion
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