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Post by Feeling The Blues on Aug 3, 2014 9:52:10 GMT
Very worrying "exclusive" piece by Graham Rusell in today's local Sunday paper, gist is; - Sainsburys want to pull the plug as they no longer see it commercially viable.
- Rovers are prepared to take Sainsburys to court and believe they have water tight contract.
- Lawyers on both sides already involved and there has been two legal skirmishes so far that have gone unreported.
So that explains the recent MP's intervention, the clubs lack of communication to us. and confirms our worst fears are well founded
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basel
Joined: May 2014
Posts: 3,064 
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Post by basel on Aug 3, 2014 10:05:38 GMT
This will drag on,possibly for years and I bet Rovers will not get the £30,000,000.
I have a season ticket for this season,but I feel this may be my last season.
Non delivery of UWE,relegation from 3rd to 4th to 5th,team building a bad joke,fans banned for having an opinion,the Boards arrogance etc.
I think I will be able to find other things to do rather than carry on being a member of the 'blind leading the blind FC'.
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GasPanic!
Rickie Lambert
Joined: May 2014
Posts: 546
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Post by GasPanic! on Aug 3, 2014 10:05:53 GMT
If Sainsburys pull out, im certain theyd have to give us more money than what we were originally going to sell The Mem for?
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Post by Westcountry Gas on Aug 3, 2014 10:10:05 GMT
Higgs comments about they can do what they want with the land makes sense now.
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Post by Feeling The Blues on Aug 3, 2014 10:12:04 GMT
If Sainsburys pull out, im certain theyd have to give us more money than what we were originally going to sell The Mem for? Well that will be true if we win a court case and they have to pay both ours and their costs as well as the original price agreed. |
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Post by a more piratey game on Aug 3, 2014 10:13:10 GMT
it does have a ring of truth about it
since the contracts were signed, things seem to have got a lot tougher for some supermarkets - poor results at Tesco and changes at the top, the rise of Lidl and Aldi. The move away from large stores to large warehouses is a longer-term trend, which I'm guessing that the Sainsbury's guys will have taken into account with their original decision
but large company managements can be very panicky and short-termist. The below is from the Telegraph 30th July.....
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Post by a more piratey game on Aug 3, 2014 10:13:30 GMT
When a broker turns cautious on a house stock, investors pay particular attention.
That is what happened to J Sainsbury, which yesterday slid 9½p to 313.8p – a 3pc fall that was the third-largest in the FTSE 100 – after Morgan Stanley analysts cut their recommendation on the supermarket group to “equal weight”, from “overweight”.
The bank is broker to Sainsbury’s, along with UBS. A downgrade by a house broker usually has more weight with investors, as fund managers expect banks to be positive on their clients’ prospects.
In Sainsbury’s case, Morgan Stanley’s retail experts were unsettled by the recent changes at rival Tesco. The latter company this month appointed both a new boss, Dave Lewis, and a finance chief, Alan Stewart. The changes mean that “Sainsbury’s control over its destiny has weakened”, the Morgan Stanley analysts told investors.
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Post by a more piratey game on Aug 3, 2014 10:19:57 GMT
from 30th April......
J Sainsbury has revamped its senior management team ahead of the departure of Justin King as chief executive.
Mr King is leaving the supermarket retailer after 10 years on July 9 and will be replaced by Mike Coupe, the commercial director and Mr King’s right-hand man.
With Mr Coupe stepping up, the company has promoted a number of directors to cover his existing role
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basel
Joined: May 2014
Posts: 3,064
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Post by basel on Aug 3, 2014 10:20:17 GMT
So when this goes to court it might take years.
Then the UWE may well get fed up of waiting,they've just stated as much.
Thoroughly disappointing and the bottom line seems 'the board will fail to deliver,again'.
What a crap start to the season.
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gas2
Joined: May 2014
Posts: 218
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Post by gas2 on Aug 3, 2014 10:22:36 GMT
Very worrying "exclusive" piece by Graham Rusell in today's local Sunday paper, gist is; - Sainsburys want to pull the plug as they no longer see it commercially viable.
- Rovers are prepared to take Sainsburys to court and believe they have water tight contract.
- Lawyers on both sides already involved and there has been two legal skirmishes so far that have gone unreported.
So that explains the recent MP's intervention, the clubs lack of communication to us. and confirms our worst fears are well founded
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gas2
Joined: May 2014
Posts: 218
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Post by gas2 on Aug 3, 2014 10:24:56 GMT
bloody hell graham Russell that well known shi- head he must be about 90 odd now hes been around for ever
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basel
Joined: May 2014
Posts: 3,064
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Post by basel on Aug 3, 2014 10:25:21 GMT
If Sainsburys pull out, im certain theyd have to give us more money than what we were originally going to sell The Mem for? If Rovers lawyers win the court case. We have absolutely no way of knowing if this will happen. |
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Post by The Concept on Aug 3, 2014 10:25:34 GMT
Step up Waitrose?
They've just taken over the Co-operative by the Keynsham by-pass, and could do with raising their profile in Bristol.
The only problem is, if another company takes over, getting the same amount of money for the land that Sainsburys would have paid.
I sincerely hope Sainsburys don't pull out, it would be a great shame for more than one reason ... I'd have further to travel (Tesco) to do my weekly shop.
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Deleted
Joined: January 1970
Posts: 0
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Post by Deleted on Aug 3, 2014 10:28:23 GMT
sainsburys/rovers agree 10 ? million compensation and the mafia skidaddle away
i can see that coming
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basel
Joined: May 2014
Posts: 3,064
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Post by basel on Aug 3, 2014 10:29:02 GMT
What was it Geoff Dunford posted on his Twitter account the other day,something about there being 'nothing to worry about' concerning the Post article about the UWE commenting on how Rovers ought to get the money together soonish because we have options.Something like that,the main point being 'nothing to worry about'.
I wonder what he'll have to post about this article!
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gas2
Joined: May 2014
Posts: 218
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Post by gas2 on Aug 3, 2014 10:32:16 GMT
perhaps if they do pull out the value of the land would be m,ore valuable now than what sainsburys paid for it in the first place ?
so in the long term they could flip the land without doing anything to it and get more money ?
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Post by supersteve73 on Aug 3, 2014 10:33:06 GMT
As usual the fans are the last to know. An absolute shambles of a club run by morons.
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Post by Feeling The Blues on Aug 3, 2014 10:33:53 GMT
The article also quotes a Rovers spokesman as saying "we dont want compensation to give up the contract"
That suggests that Sainsburys have made a move to offer compensation to get out. If so that does provide some encouragement that they recognise that they cannot just pull out. So its probably now going to be about how little they can pay us without going to court. I think they will try and tempt the directors with enough money to repay their loans and maybe build a nice new stand at the current ground?
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basel
Joined: May 2014
Posts: 3,064
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Post by basel on Aug 3, 2014 10:38:36 GMT
I won't be shopping Sainsbury ever again then.
The Board fail to deliver and I have said since the UWE project was announced it was as far as i'm concerned their last chance.
This may well be my last Rovers season,if I can be bothered to use my season ticket.
As for Irene,well the old girl has been ill for too long now,it may be time for me to let her go. 
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GasHeadGaz
Vita Astafjevs
Joined: June 2014
Posts: 518
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Post by GasHeadGaz on Aug 3, 2014 10:38:47 GMT
As usual the fans are the last to know. An absolute shambles of a club run by morons. We ain't gunna be the first are we?  |
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