eppinggas
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Ian Alexander
Don't care
Joined: June 2014
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Post by eppinggas on Feb 12, 2024 17:57:49 GMT
An open letter from Hussain Alsaeed... Make of this what you will.
Bristol Rovers Football Club
Open Letter | Hussain Alsaeed
Dear Gasheads,
It is with great enthusiasm that I address you today, six months after taking control of our beloved club. During this past period, the board has been dedicated to laying the foundation for an ambitious journey. I am excited to share our vision for the next three years, focusing on three pivotal areas: the first team, the Memorial Stadium, and our training ground, The Quarters.
Building a Competitive First Team:
This past December, we appointed Matt Taylor as our manager, fully confident in his abilities to transform our squad into a formidable force within the league. His vision and leadership perfectly align with our ambitious goal: promotion to the Championship within the next three years.
We are committed to providing Matt with full backing and the resources needed to make this vision a reality. This summer, during the transfer window, we will work closely with him to acquire talented players who share his ambition and are eager to contribute to the success of Bristol Rovers. We have already made strategic additions like Kamil Conteh, and further reinforcements are planned that will bolster the squad in key areas. While Aaron Collins' departure was mutually agreed upon – both he and the club felt it was the right time to move on – we extend our sincere gratitude for his contributions and wish him all the best. We’ve also bolstered the management team with experienced figures like Jamie McAllister, Kevin Bond, and Wayne Carlisle, further propelling our aspirations. Additionally, we are deeply invested in nurturing home grown talent, as evidenced by Jed Ward's remarkable rise.
Transforming the Memorial Stadium:
Upon taking the helm, we quickly discovered that the developer involved in the previous stadium development plans at the fruit market site chose not to proceed further with the project. While acknowledging this initial setback, we swiftly shifted our focus towards revitalising the heart and soul of our club: the Memorial Stadium. The opening of the South Stand has demonstrably enhanced the match day atmosphere, serving as a mere glimpse of what is to come. Our ambitious vision is to expand the stadium's capacity to 16,000, creating a vibrant and intimidating fortress that will resonate with your unwavering support for our first team. We will keep you informed of our progress as we navigate the planning and approval process with the city council. We will share our designs and plans once we have obtained all the necessary approvals.
Investing in The Quarters:
Our vision for The Quarters extends far beyond its function as a training ground. We envision it as a state-of-the-art facility that will serve as a home for both our first-team and academy. This development embodies our culture of excellence and ambition, providing a clear pathway for academy players to transition to the first team. The Quarters will boast additional top quality pitches and an indoor pitch, specifically designed to optimise training for both the first team and academy. Additionally, the fully-equipped building will house all the resources necessary for player development. This will include gym facilities, nutrition and rehabilitation to ensure holistic support for all of our teams. Furthermore, we have also included a residential element to ensure the site is commercial viable for the club. As we obtain approvals from the City Council and local residents we will also share our plans and designs for the Quarters.
Together, We Rise:
The future holds immense promise, and we are not embarking on this journey alone. Your unwavering support, passion, and loyalty fuel our collective aspirations. We will soon be in a position to announce the release of season tickets. We understand the economic challenges everyone faces, and despite inflationary pressures, we have ensured minimal price increases.
We still have a number of important fixtures this season, Wael and I looking forward to joining you all at The Mem and on the road to get behind the team.
Thank you for all of your support.
UTG!
Sincerely,
Hussain Alsaeed, Chairman
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knobrot
Joined: December 2023
Posts: 67
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Post by knobrot on Feb 12, 2024 18:14:30 GMT
Outstanding!. In the 60 years I’ve followed this club I have never seen anything like this. This is commitment, clear strategy and the guts to provide a vision that can be measured. Now we’ve got all we need to ride out the unavoidable bumps in the road and get behind this project. UTG.
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ltdgas
Joined: June 2014
Posts: 1,093
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Post by ltdgas on Feb 12, 2024 18:20:04 GMT
Looking forward to the derby in 3 years time , though no doubt the teds will spoil it by getting relegated , hopefully.
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Post by rideintothesun on Feb 12, 2024 18:47:46 GMT
Looking forward to the derby in 3 years time , though no doubt the teds will spoil it by getting relegated , hopefully. I think a derby with FGR is more likely in the next three years. People are being very critical of the new owners, but its worthwhile recalling that Conteh cost 300,000, which is close to our record transfer fee. Look across the football league and there are so many examples of foreign owners mismanaging clubs. WBA and Reading are both obvious examples. |
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oldie
Joined: September 2021
Posts: 7,532
Member is Online
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Post by oldie on Feb 12, 2024 19:10:26 GMT
Outstanding!. In the 60 years I’ve followed this club I have never seen anything like this. This is commitment, clear strategy and the guts to provide a vision that can be measured. Now we’ve got all we need to ride out the unavoidable bumps in the road and get behind this project. UTG. In the 60 years of following Rovers I have heard this stuff so many times. The proof is in the pudding. At present I am totally unconvinced. The transparency around the club are as about as clear as a pea soup fog. We shall see... |
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kingswood Polak
Without music life would be a mistake
Joined: May 2014
Posts: 10,361
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Post by kingswood Polak on Feb 12, 2024 19:14:20 GMT
Outstanding!. In the 60 years I’ve followed this club I have never seen anything like this. This is commitment, clear strategy and the guts to provide a vision that can be measured. Now we’ve got all we need to ride out the unavoidable bumps in the road and get behind this project. UTG. In the 60 years of following Rovers I have heard this stuff so many times. The proof is in the pudding. At present I am totally unconvinced. The transparency around the club are as about as clear as a pea soup fog. We shall see... Ditto |
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JeffNZ
Administrator
Jimmy Morgan
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Post by JeffNZ on Feb 12, 2024 20:55:06 GMT
We demanded communication and direction from the new owners and this is as good as we've got in many years. It puts a line in the sand, a welcomed benchmark we can use to measure the on and off-field performance of the new owners during and over the next 3 years. However, due to past experiences, skepticism is engrained into the mindset of any Gashead over the age of 40 . swissgas (and others) will understandably want to sight a detailed business and financial plan but I think many Gasheads will take this in good faith and hold the owners feet to fire if things start to all go a bit Pete Tong. |
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Post by lostinspace on Feb 12, 2024 21:11:38 GMT
Can't ever recall G Dunford even attempting to converse with supporters,no matter how intentional it was ...or otherwise.....so to see something as open as this is very interesting
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Post by a more piratey game on Feb 12, 2024 22:11:34 GMT
We demanded communication and direction from the new owners and this is as good as we've got in many years. It puts a line in the sand, a welcomed benchmark we can use to measure the on and off-field performance of the new owners during and over the next 3 years. However, due to past experiences, skepticism is engrained into the mindset of any Gashead over the age of 40 . swissgas (and others) will understandably want to sight a detailed business and financial plan but I think many Gasheads will take this in good faith and hold the owners feet to fire if things start to all go a bit Pete Tong. yes, what he said |
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Post by swissgas on Feb 13, 2024 0:26:13 GMT
We demanded communication and direction from the new owners and this is as good as we've got in many years. It puts a line in the sand, a welcomed benchmark we can use to measure the on and off-field performance of the new owners during and over the next 3 years. However, due to past experiences, skepticism is engrained into the mindset of any Gashead over the age of 40 . swissgas (and others) will understandably want to sight a detailed business and financial plan but I think many Gasheads will take this in good faith and hold the owners feet to fire if things start to all go a bit Pete Tong. Unbelievable Jeff.  |
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knobrot
Joined: December 2023
Posts: 67
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Post by knobrot on Feb 13, 2024 9:52:34 GMT
We don’t realise how powerful this forum is. Dunford just got pissed off with never getting any credit for what he and his father did in the close season between leaving Eastville and going to Twerton. Very few people knew how many times emergency board meetings were called to fight off foreclosure attempts on an hourly basis for days on end. Ron Graig, Vernon Stokes, Ron Bradley, Roy Redman, and another certain person constantly called on to make huge contributions, thousands upon thousands of pounds. We started the next season not expecting to last for 6 weeks and indeed if not for the astonishing numbers that turned up for the Reading and Bolton games, our first at Twerton, we probably wouldn’t have. Now, the point is this and it was made at the time, if we were all made aware of how critical things were it may have caused a surge of support and gratitude for what was being done. On the other hand these people were concerned that there would be some kind of recognition in terms of hero status, they weren’t, they were local businessmen that bled blue and white quartered blood that would do anything required for us to have a Bristol Rovers to be proud of. They didn’t do an ‘82’ and run away they fought for our good name. A lot of water has gone under the Bridge since then and we’ve seen any number of attempts to keep this club in business and through their own fault, in my view, for whatever reason have received severe criticism for treating us like mushrooms. I’ll take one observation that makes this statement entirely different from anything that’s gone before. In the past we have been bombarded with obvious bulls**t in terms of what we would be seeing in terms of development, from the days of Stoke Gifford, Severnside, Mangotsfield, right through to the Fruit Market crap that I nor many of those that stand on the terracing around me wanted, based on here it is,providing we get planning permission, notwithstanding funding. This is different, this is we will get the planning and funding sorted before we come forward with our proposals for the support to see. We need to get right behind this, and by the way Wael gets s**t he doesn’t deserve but as with others he swallows it and ploughs on regardless of how injured he feels. Criticism where it’s due but recognition also and in my view the latter is more important going forward UTG!.
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kingswood Polak
Without music life would be a mistake
Joined: May 2014
Posts: 10,361
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Post by kingswood Polak on Feb 13, 2024 14:17:43 GMT
We don’t realise how powerful this forum is. Dunford just got pissed off with never getting any credit for what he and his father did in the close season between leaving Eastville and going to Twerton. Very few people knew how many times emergency board meetings were called to fight off foreclosure attempts on an hourly basis for days on end. Ron Graig, Vernon Stokes, Ron Bradley, Roy Redman, and another certain person constantly called on to make huge contributions, thousands upon thousands of pounds. We started the next season not expecting to last for 6 weeks and indeed if not for the astonishing numbers that turned up for the Reading and Bolton games, our first at Twerton, we probably wouldn’t have. Now, the point is this and it was made at the time, if we were all made aware of how critical things were it may have caused a surge of support and gratitude for what was being done. On the other hand these people were concerned that there would be some kind of recognition in terms of hero status, they weren’t, they were local businessmen that bled blue and white quartered blood that would do anything required for us to have a Bristol Rovers to be proud of. They didn’t do an ‘82’ and run away they fought for our good name. A lot of water has gone under the Bridge since then and we’ve seen any number of attempts to keep this club in business and through their own fault, in my view, for whatever reason have received severe criticism for treating us like mushrooms. I’ll take one observation that makes this statement entirely different from anything that’s gone before. In the past we have been bombarded with obvious bulls**t in terms of what we would be seeing in terms of development, from the days of Stoke Gifford, Severnside, Mangotsfield, right through to the Fruit Market crap that I nor many of those that stand on the terracing around me wanted, based on here it is,providing we get planning permission, notwithstanding funding. This is different, this is we will get the planning and funding sorted before we come forward with our proposals for the support to see. We need to get right behind this, and by the way Wael gets s**t he doesn’t deserve but as with others he swallows it and ploughs on regardless of how injured he feels. Criticism where it’s due but recognition also and in my view the latter is more important going forward UTG!. I genuinely agree with much but GD did well out of us and proudly said this, players in his hotel etc. Denis, a different matter, top man. I also think Wael has had an easy ride, he was responsible for the many changes of tack and trebling, nigh on quadrupling the debts but it is what it is. You cannot keep on changing your mind and expect things to be stable and the team to do well. We have been rudderless ever since he came into the club. Many give him a pass on that by blaming his adivisors but the buck, ultimately, stopped with him. Nice guy and all but made mistake after mistake |
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Post by o2o2bo2ba on Feb 13, 2024 15:11:06 GMT
An open letter from Hussain Alsaeed... Make of this what you will. Bristol Rovers Football Club Open Letter | Hussain Alsaeed Dear Gasheads, It is with great enthusiasm that I address you today, six months after taking control of our beloved club. During this past period, the board has been dedicated to laying the foundation for an ambitious journey. I am excited to share our vision for the next three years, focusing on three pivotal areas: the first team, the Memorial Stadium, and our training ground, The Quarters. Building a Competitive First Team: This past December, we appointed Matt Taylor as our manager, fully confident in his abilities to transform our squad into a formidable force within the league. His vision and leadership perfectly align with our ambitious goal: promotion to the Championship within the next three years. We are committed to providing Matt with full backing and the resources needed to make this vision a reality. This summer, during the transfer window, we will work closely with him to acquire talented players who share his ambition and are eager to contribute to the success of Bristol Rovers. We have already made strategic additions like Kamil Conteh, and further reinforcements are planned that will bolster the squad in key areas. While Aaron Collins' departure was mutually agreed upon – both he and the club felt it was the right time to move on – we extend our sincere gratitude for his contributions and wish him all the best. We’ve also bolstered the management team with experienced figures like Jamie McAllister, Kevin Bond, and Wayne Carlisle, further propelling our aspirations. Additionally, we are deeply invested in nurturing home grown talent, as evidenced by Jed Ward's remarkable rise. Transforming the Memorial Stadium: Upon taking the helm, we quickly discovered that the developer involved in the previous stadium development plans at the fruit market site chose not to proceed further with the project. While acknowledging this initial setback, we swiftly shifted our focus towards revitalising the heart and soul of our club: the Memorial Stadium. The opening of the South Stand has demonstrably enhanced the match day atmosphere, serving as a mere glimpse of what is to come. Our ambitious vision is to expand the stadium's capacity to 16,000, creating a vibrant and intimidating fortress that will resonate with your unwavering support for our first team. We will keep you informed of our progress as we navigate the planning and approval process with the city council. We will share our designs and plans once we have obtained all the necessary approvals. Investing in The Quarters: Our vision for The Quarters extends far beyond its function as a training ground. We envision it as a state-of-the-art facility that will serve as a home for both our first-team and academy. This development embodies our culture of excellence and ambition, providing a clear pathway for academy players to transition to the first team. The Quarters will boast additional top quality pitches and an indoor pitch, specifically designed to optimise training for both the first team and academy. Additionally, the fully-equipped building will house all the resources necessary for player development. This will include gym facilities, nutrition and rehabilitation to ensure holistic support for all of our teams. Furthermore, we have also included a residential element to ensure the site is commercial viable for the club. As we obtain approvals from the City Council and local residents we will also share our plans and designs for the Quarters. Together, We Rise: The future holds immense promise, and we are not embarking on this journey alone. Your unwavering support, passion, and loyalty fuel our collective aspirations. We will soon be in a position to announce the release of season tickets. We understand the economic challenges everyone faces, and despite inflationary pressures, we have ensured minimal price increases. We still have a number of important fixtures this season, Wael and I looking forward to joining you all at The Mem and on the road to get behind the team. Thank you for all of your support. UTG! Sincerely, Hussain Alsaeed, Chairman Bla bla bla bla Heard it all before. |
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trymer
Joined: November 2018
Posts: 2,544
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Post by trymer on Feb 13, 2024 15:49:25 GMT
I am prepared to take the owners letter as genuine ambitions, we will know by the start of next season when we have seen the summers recruitment.
I think that the 16,000 capacity ground seems realistic but if promotion to the Championship happens within 3 years would crowds of 16,000 be enough to sustain a club at that level ?
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Post by johnmalyckyj on Feb 14, 2024 12:27:09 GMT
We don’t realise how powerful this forum is. Dunford just got pissed off with never getting any credit for what he and his father did in the close season between leaving Eastville and going to Twerton. Very few people knew how many times emergency board meetings were called to fight off foreclosure attempts on an hourly basis for days on end. Ron Graig, Vernon Stokes, Ron Bradley, Roy Redman, and another certain person constantly called on to make huge contributions, thousands upon thousands of pounds. We started the next season not expecting to last for 6 weeks and indeed if not for the astonishing numbers that turned up for the Reading and Bolton games, our first at Twerton, we probably wouldn’t have. Now, the point is this and it was made at the time, if we were all made aware of how critical things were it may have caused a surge of support and gratitude for what was being done. On the other hand these people were concerned that there would be some kind of recognition in terms of hero status, they weren’t, they were local businessmen that bled blue and white quartered blood that would do anything required for us to have a Bristol Rovers to be proud of. They didn’t do an ‘82’ and run away they fought for our good name. A lot of water has gone under the Bridge since then and we’ve seen any number of attempts to keep this club in business and through their own fault, in my view, for whatever reason have received severe criticism for treating us like mushrooms. I’ll take one observation that makes this statement entirely different from anything that’s gone before. In the past we have been bombarded with obvious bulls**t in terms of what we would be seeing in terms of development, from the days of Stoke Gifford, Severnside, Mangotsfield, right through to the Fruit Market crap that I nor many of those that stand on the terracing around me wanted, based on here it is,providing we get planning permission, notwithstanding funding. This is different, this is we will get the planning and funding sorted before we come forward with our proposals for the support to see. We need to get right behind this, and by the way Wael gets s**t he doesn’t deserve but as with others he swallows it and ploughs on regardless of how injured he feels. Criticism where it’s due but recognition also and in my view the latter is more important going forward UTG!. I genuinely agree with much but GD did well out of us and proudly said this, players in his hotel etc. Denis, a different matter, top man. I also think Wael has had an easy ride, he was responsible for the many changes of tack and trebling, nigh on quadrupling the debts but it is what it is. You cannot keep on changing your mind and expect things to be stable and the team to do well. We have been rudderless ever since he came into the club. Many give him a pass on that by blaming his adivisors but the buck, ultimately, stopped with him. Nice guy and all but made mistake after mistake I am not sure what you mean by "Denis, a different matter, top man"? It was Geoff who did the work with Denis as a figure head to provide wise counsel when it was needed. Geoff's business interests did get intertwined with the Football Club and why wouldn't they? He was trying to do the best for his family as well as Rovers. Geoff really didn't like the limelight and sometimes when I was involved in the Supporters Club that could be really frustrating. There seems to be a myth that Geoff was only in it for himself and somehow Denis was above all that. It was (as I understand it) Geoff who persuaded Denis to become involved. Kind regards John Malyckyj |
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Post by johnmalyckyj on Feb 14, 2024 13:06:58 GMT
We demanded communication and direction from the new owners and this is as good as we've got in many years. It puts a line in the sand, a welcomed benchmark we can use to measure the on and off-field performance of the new owners during and over the next 3 years. However, due to past experiences, skepticism is engrained into the mindset of any Gashead over the age of 40 . swissgas (and others) will understandably want to sight a detailed business and financial plan but I think many Gasheads will take this in good faith and hold the owners feet to fire if things start to all go a bit Pete Tong. Unbelievable Jeff. Right then, having followed events very closely over the last few months, I find myself having "crossed the floor" to sit on the same benches as swissgas. There you are I have said it. I can't say that I was enthused when I read the open letter and it contained a bit of a basic error where it talks about obtaining approvals from the City Council in relation to The Quarters. Someone should have proof read it and made sure that everything was right before it went out, pointing out that the Quarters sits in South Gloucestershire. You might say that is nit picking, but it's careless and disrespectful to the people you are going to have to deal with. I am just really worried that these people do not appear to have experience of running a football club or a real understanding of their customer base and/or have a respect for it. I usually reserve expressing an opinion until I have had face to face interaction with the people who own the Football Club, usually at the AGM but I am afraid that I am beginning to feel a little uncomfortable. Where is the money coming for all this given the way the new South Stand has been financed? Should we be worried that suddenly part of the Quarters is going to be sold off for residential development, is that the only way that it's expansion can be financed? How will the Mem redevelopment be financed? It is their club and it's up to them, but I am really concerned for the future of the Football Club for the first time since just before the original takeover by the Al Qadi family. Football clubs such as Bristol Rovers will continue to be the target of overseas investment because that is where it appears the money lies and only they can afford to fund the losses, but it will be really worrying if slowly but surely that each time a new investor realises that they are in above their heads they have to go out again to attract more investment from someone else who fancies a punt on an English football club. Kind regards John Malyckyj |
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kingswood Polak
Without music life would be a mistake
Joined: May 2014
Posts: 10,361
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Post by kingswood Polak on Feb 14, 2024 16:53:35 GMT
I genuinely agree with much but GD did well out of us and proudly said this, players in his hotel etc. Denis, a different matter, top man. I also think Wael has had an easy ride, he was responsible for the many changes of tack and trebling, nigh on quadrupling the debts but it is what it is. You cannot keep on changing your mind and expect things to be stable and the team to do well. We have been rudderless ever since he came into the club. Many give him a pass on that by blaming his adivisors but the buck, ultimately, stopped with him. Nice guy and all but made mistake after mistake I am not sure what you mean by "Denis, a different matter, top man"? It was Geoff who did the work with Denis as a figure head to provide wise counsel when it was needed. Geoff's business interests did get intertwined with the Football Club and why wouldn't they? He was trying to do the best for his family as well as Rovers. Geoff really didn't like the limelight and sometimes when I was involved in the Supporters Club that could be really frustrating. There seems to be a myth that Geoff was only in it for himself and somehow Denis was above all that. It was (as I understand it) Geoff who persuaded Denis to become involved. Kind regards John Malyckyj In my online exchanges and face to face chats he was very different but he did once say that he had done well out of the club. That’s all |
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kingswood Polak
Without music life would be a mistake
Joined: May 2014
Posts: 10,361
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Post by kingswood Polak on Feb 15, 2024 9:39:58 GMT
I genuinely agree with much but GD did well out of us and proudly said this, players in his hotel etc. Denis, a different matter, top man. I also think Wael has had an easy ride, he was responsible for the many changes of tack and trebling, nigh on quadrupling the debts but it is what it is. You cannot keep on changing your mind and expect things to be stable and the team to do well. We have been rudderless ever since he came into the club. Many give him a pass on that by blaming his adivisors but the buck, ultimately, stopped with him. Nice guy and all but made mistake after mistake I am not sure what you mean by "Denis, a different matter, top man"? It was Geoff who did the work with Denis as a figure head to provide wise counsel when it was needed. Geoff's business interests did get intertwined with the Football Club and why wouldn't they? He was trying to do the best for his family as well as Rovers. Geoff really didn't like the limelight and sometimes when I was involved in the Supporters Club that could be really frustrating. There seems to be a myth that Geoff was only in it for himself and somehow Denis was above all that. It was (as I understand it) Geoff who persuaded Denis to become involved. Kind regards John Malyckyj Just to add that I had many more but informal chats with Denis and his wife, memory fails me but I think Margaret, knitting as she talked and Denis seemingly only ever wearing polo tops. Great guy and always made time for us fans, unlike Geoff. Maybe this is why he is more fondly remembered John ? Were you not part of the RAFC then ? I am not opening that can of worms but just always thought you were. |
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Post by swissgas on Feb 15, 2024 16:01:31 GMT
Unbelievable Jeff. Right then, having followed events very closely over the last few months, I find myself having "crossed the floor" to sit on the same benches as swissgas. There you are I have said it. I can't say that I was enthused when I read the open letter and it contained a bit of a basic error where it talks about obtaining approvals from the City Council in relation to The Quarters. Someone should have proof read it and made sure that everything was right before it went out, pointing out that the Quarters sits in South Gloucestershire. You might say that is nit picking, but it's careless and disrespectful to the people you are going to have to deal with. I am just really worried that these people do not appear to have experience of running a football club or a real understanding of their customer base and/or have a respect for it. I usually reserve expressing an opinion until I have had face to face interaction with the people who own the Football Club, usually at the AGM but I am afraid that I am beginning to feel a little uncomfortable. Where is the money coming for all this given the way the new South Stand has been financed? Should we be worried that suddenly part of the Quarters is going to be sold off for residential development, is that the only way that it's expansion can be financed? How will the Mem redevelopment be financed? It is their club and it's up to them, but I am really concerned for the future of the Football Club for the first time since just before the original takeover by the Al Qadi family. Football clubs such as Bristol Rovers will continue to be the target of overseas investment because that is where it appears the money lies and only they can afford to fund the losses, but it will be really worrying if slowly but surely that each time a new investor realises that they are in above their heads they have to go out again to attract more investment from someone else who fancies a punt on an English football club. Kind regards John Malyckyj Dennis Skinner and I are pleased to have you join us on these benches John but there is still plenty of room for more  I agree with all the points in your post and could add my own analysis of the open letter but I'm not sure it would do much good. In your final paragraph you say that each time an investor realises they are in over their heads they have to go out again to attract more investment from someone else who fancies a punt on an English football club. This is true and has been the case with Nick Higgs finding the Al Qadi's willing to take a punt and Wael eventually finding the Al-Saeeds but how long can this go on ? I was shocked when ITB posted that the high interest Nationwide Finance loan is for £5 million and was used to pay day to day expenses as well as for the South Stand. There has been very little comment on this and I suspect it horrified most Gasheads so they'd rather put it to the back of their minds. But it will have confirmed the fear of a growing number of fans that far from being in a "good place" the club was in a far worse position when the Al-Saeeds took over than it was in February 2016. Here are some figures to show this. February 2016 August 2023Annual trading losses £ 1.0 million £ 4.0 million Amount owed to "Wonga Type" loan company £ 2.7 million £ 5.0 million Amount owed through loan from shareholders £ 4.5 million £ 10.0 million * (* estimate. £7 million owed at 30.06.22) Amount of cash put into Rovers to gain control £ 7.2 million* (loan) £ 7.2 million * (*capital) You can see that despite the deterioration in our financial position the Al-Saeeds put the same amount into Rovers as Dwane Sports had done in 2016 to gain control. In both cases, I believe, there was no payment for shares and they were just handed over in return for the cash injection to keep the business afloat. But there is one glaring difference which Gasheads should be aware of. The first thing Dwane Sports did upon taking over was to pay off the loan from MSP Capital and pay off the loans and bonds owing to Nick Higgs and the other shareholders leaving Rovers with a £7.2 million debt to Dwane. But when the Al-Saeeds took over they appear to have put in cash as capital but left the loan to Nationwide Finance still outstanding and did not capitalise the loan from Dwane Sports. Therefore the two charges remain over the Mem and the other assets leaving Rovers with £ 15 million of secured debt outstanding. The Al-Saeeds plan now seems to be to take on even more debt and to persevere with excess spending as the way to achieve their stated aim of getting Rovers to the Championship within three years. If that is the plan and it fails, meaning they need to go out and attract someone else who fancies a punt on Rovers, I think all sensible investors will look at the debt and the business model and give our club a wide berth. |
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Post by russiangas on Feb 16, 2024 1:59:09 GMT
Right then, having followed events very closely over the last few months, I find myself having "crossed the floor" to sit on the same benches as swissgas. There you are I have said it. I can't say that I was enthused when I read the open letter and it contained a bit of a basic error where it talks about obtaining approvals from the City Council in relation to The Quarters. Someone should have proof read it and made sure that everything was right before it went out, pointing out that the Quarters sits in South Gloucestershire. You might say that is nit picking, but it's careless and disrespectful to the people you are going to have to deal with. I am just really worried that these people do not appear to have experience of running a football club or a real understanding of their customer base and/or have a respect for it. I usually reserve expressing an opinion until I have had face to face interaction with the people who own the Football Club, usually at the AGM but I am afraid that I am beginning to feel a little uncomfortable. Where is the money coming for all this given the way the new South Stand has been financed? Should we be worried that suddenly part of the Quarters is going to be sold off for residential development, is that the only way that it's expansion can be financed? How will the Mem redevelopment be financed? It is their club and it's up to them, but I am really concerned for the future of the Football Club for the first time since just before the original takeover by the Al Qadi family. Football clubs such as Bristol Rovers will continue to be the target of overseas investment because that is where it appears the money lies and only they can afford to fund the losses, but it will be really worrying if slowly but surely that each time a new investor realises that they are in above their heads they have to go out again to attract more investment from someone else who fancies a punt on an English football club. Kind regards John Malyckyj Dennis Skinner and I are pleased to have you join us on these benches John but there is still plenty of room for more I agree with all the points in your post and could add my own analysis of the open letter but I'm not sure it would do much good. In your final paragraph you say that each time an investor realises they are in over their heads they have to go out again to attract more investment from someone else who fancies a punt on an English football club. This is true and has been the case with Nick Higgs finding the Al Qadi's willing to take a punt and Wael eventually finding the Al-Saeeds but how long can this go on ? I was shocked when ITB posted that the high interest Nationwide Finance loan is for £5 million and was used to pay day to day expenses as well as for the South Stand. There has been very little comment on this and I suspect it horrified most Gasheads so they'd rather put it to the back of their minds. But it will have confirmed the fear of a growing number of fans that far from being in a "good place" the club was in a far worse position when the Al-Saeeds took over than it was in February 2016. Here are some figures to show this. February 2016 August 2023Annual trading losses £ 1.0 million £ 4.0 million Amount owed to "Wonga Type" loan company £ 2.7 million £ 5.0 million Amount owed through loan from shareholders £ 4.5 million £ 10.0 million * (* estimate. £7 million owed at 30.06.22) Amount of cash put into Rovers to gain control £ 7.2 million* (loan) £ 7.2 million * (*capital) You can see that despite the deterioration in our financial position the Al-Saeeds put the same amount into Rovers as Dwane Sports had done in 2016 to gain control. In both cases, I believe, there was no payment for shares and they were just handed over in return for the cash injection to keep the business afloat. But there is one glaring difference which Gasheads should be aware of. The first thing Dwane Sports did upon taking over was to pay off the loan from MSP Capital and pay off the loans and bonds owing to Nick Higgs and the other shareholders leaving Rovers with a £7.2 million debt to Dwane. But when the Al-Saeeds took over they appear to have put in cash as capital but left the loan to Nationwide Finance still outstanding and did not capitalise the loan from Dwane Sports. Therefore the two charges remain over the Mem and the other assets leaving Rovers with £ 15 million of secured debt outstanding. The Al-Saeeds plan now seems to be to take on even more debt and to persevere with excess spending as the way to achieve their stated aim of getting Rovers to the Championship within three years. If that is the plan and it fails, meaning they need to go out and attract someone else who fancies a punt on Rovers, I think all sensible investors will look at the debt and the business model and give our club a wide berth. So what is the attraction of buying a English football team to all these foreign investors do you think? Do they begin genuinely thinking that they can get the club into the championship or ultimately premier league in due course and then will make serious money? Is it just literally an expensive toy for men that already have everything else they need? If I was really wealthy and if I lived in a country with a much lower standard of football than here I'd still rather invest in a team in my own country, maybe try to use money to improve the standard of football there. I just don't really understand it. Like you say if things aren't managed better we could easily be in an even worse situation in a couple of years time if things don't pan out as per the "plan". Do many championship clubs make a profit even? |
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