Deleted
Joined: January 1970
Posts: 0
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Post by Deleted on Sept 21, 2019 16:37:47 GMT
Sounds like you know more than me, but I thought that loans were written off and he only received share value. But the original point was that our present owners have run up the debt from circa £4m to circa £15m and counting in no time flat, basically, they've lost all of the security that they inherited. Now, if you want to try to paint Higgs as the bad guy here then go right ahead and demonstrate that he had the stadium valued for development and made the new owners pay full potential market value, thus lined his own pocket at the expense of the club, if you can't do that then you are just going to have to concede that he handed the club over on preferential terms, and the benefit of that has been lost by these owners. I am not trying to paint Higgs as the only bad guy so no need to be so defensive. As I said earlier I don't think the AQs are exactly doing a brilliant job either. If you look at the accounts debt was higher than £4mln (in fact over £6mln) when the AQs took over and cashflows indicate that all of the debt was repaid which would include Higgs. I certainly don't think they obtained it on preferential terms. Higgs stated that the value of the stadium (that Sainsbury were supposed to be paying) was £30m. In reality without that stupid bid most people calculate the site to be worth around £15mln depending on the type of development. The AQs paid off the debt to get the club. If you recall Higgs was left high and dry as no one else (directors) would put money in. In fairness he was the only one left to put cash in. However I think people had lost faith in him with his 'watertight contract' and Wonga style borrowing. I don't think the AQs have covered themselves in glory. It would appear that everything they are doing is dependent on other events i.e. buying the training ground but then trying to get planning permission for housing development. And I think their failure to have done full due diligence on UWE was definitely odd for bankers who insist on due diligence on everything. So, what you are saying is that these owners cleared the debt, circa £6m and paid an additional £9m to the directors? Anything below that would be less than market value and therefore, by definition, preferential. We don't know whether or not Ware, Jelf, Bradshaw, King etc refused to put further funds in for any given purpose, and I doubt very much that they would disclose that information. Of course, we could always ask Seymour-Smith and Masters, but even if that stuff was discussed at board meetings, I doubt very much that either of those fools would have understood. |
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Deleted
Joined: January 1970
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Post by Deleted on Sept 21, 2019 20:39:13 GMT
They say 'Every Dog has its Day' well i saw my first Rovers match in 69 and have watched few thousand since I can confirm that we have achieved sod all! Its kidda summed up by the fire that destroyed one of the stands at Eastville it also gutted the trophy room causing five pounds worth of damage' On the flip side, the Championship is the highest level of football we have achieved in all our history is up for grabs this season. From what i have seen so far (apart from Ipswich who will romp it) there's no one else to fear, so ignore the 'doom and gloom merchants anything is possible! You made I laugh about the trophy room but I don’t see us troubling the top six, not as we are. I think it would need some ambition and investment to change that. Terry Cooper who was manager at the time of the fire ordered the staff to save the Cups and they all ran to the kitchen. |
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Post by toteend3 on Sept 22, 2019 7:35:29 GMT
You made I laugh about the trophy room but I don’t see us troubling the top six, not as we are. I think it would need some ambition and investment to change that. Terry Cooper who was manager at the time of the fire ordered the staff to save the Cups and they all ran to the kitchen. Abovously this lead to the club getting into financial difficulties it was rumoured that an offer a hundred grand was made for Gary Mabbett and Fray Bentos offered a fiver for the rest of the team! |
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kingswood Polak
Without music life would be a mistake
Joined: May 2014
Posts: 10,255 
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Post by kingswood Polak on Sept 22, 2019 9:59:46 GMT
You made I laugh about the trophy room but I don’t see us troubling the top six, not as we are. I think it would need some ambition and investment to change that. Terry Cooper who was manager at the time of the fire ordered the staff to save the Cups and they all ran to the kitchen. Stop ffs. I must learn not to be drinking anything whilst reading 😂👌🏻 |
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Deleted
Joined: January 1970
Posts: 0
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Post by Deleted on Sept 22, 2019 16:36:56 GMT
Terry Cooper who was manager at the time of the fire ordered the staff to save the Cups and they all ran to the kitchen. Abovously this lead to the club getting into financial difficulties it was rumoured that an offer a hundred grand was made for Gary Mabbett and Fray Bentos offered a fiver for the rest of the team! The best story I heard of a Rovers players devaluation was when Rovers invited Bill Shankly to Eastville to watch Stuart Taylor and hopefully sell him. After the match the Rovers chairman said to Shankly, “50,000 wouldn’t buy him” and Shankly replied, “Aye, and I’m one of the 50,000, I’ll take Larry Lloyd.” |
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kingswood Polak
Without music life would be a mistake
Joined: May 2014
Posts: 10,255
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Post by kingswood Polak on Sept 23, 2019 10:35:01 GMT
Abovously this lead to the club getting into financial difficulties it was rumoured that an offer a hundred grand was made for Gary Mabbett and Fray Bentos offered a fiver for the rest of the team! The best story I heard of a Rovers players devaluation was when Rovers invited Bill Shankly to Eastville to watch Stuart Taylor and hopefully sell him. After the match the Rovers chairman said to Shankly, “50,000 wouldn’t buy him” and Shankly replied, “Aye, and I’m one of the 50,000, I’ll take Larry Lloyd.” I love these kind of stories. When I was allowed to go to football on my own, aged 13, I always gravitated to the story tellers and it was one of the rare occasions where I would just listen. I still do it now, it’s shameful but I don’t remember his name,there is one older guy, tall and wears spectacles, who I make a point of always talking to and he has so much to say about past teams & also is one of the few who has retained the gallows humour that played a part in me being a supporter. BTW, I am not insinuating your of his age but I bet you could hold an audience and have lots of anecdotes. Keep them coming, if you wish, I certainly enjoy them. |
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