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Post by Antonio Fargas on Oct 27, 2014 11:32:08 GMT
From within the depths of an OTIB thread last week: "I was on a train to London on Saturday and 4 women were chatting about a guy and my ears *****ed up when one said 'he offered me a job when he owned Swindon (Town) and he has offered me a job at Bristol Rovers.' her friend asked 'has that gone through'. 'Not yet but its been agreed and going through due diligence'." Probably BS but worth keeping an eye on. If that's not bulls***, then I met Massimo Cellino coming out of Tesco Golden Hill on Saturday wearing the '93 Roman Glass away kit, and he asked me 'which way to the Mem?'
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Post by Curly Wurly on Oct 27, 2014 11:46:10 GMT
From within the depths of an OTIB thread last week: "I was on a train to London on Saturday and 4 women were chatting about a guy and my ears *****ed up when one said 'he offered me a job when he owned Swindon (Town) and he has offered me a job at Bristol Rovers.' her friend asked 'has that gone through'. 'Not yet but its been agreed and going through due diligence'." Probably BS but worth keeping an eye on. If that's not bulls***, then I met Massimo Cellino coming out of Tesco Golden Hill on Saturday wearing the '93 Roman Glass away kit, and he asked me 'which way to the Mem?' Bloody hell......did you? ?
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Post by droitwichgas on Oct 27, 2014 11:47:38 GMT
Assuming this was lifted from OTIB why would they bother to post it on there, unless they just wanted to paste & copy back on here which seems a bit long winded.
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Peter Parker
Global Moderator
Richard Walker
You have been sentenced to DELETION!
Joined: May 2014
Posts: 4,920
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Post by Peter Parker on Oct 27, 2014 15:03:54 GMT
Don't worry Brian stamps all over the rumours
Hi
I have carefully read the comments on this forum. I also have a friend who is a Hereford United supporter who has given me a detailed account of what happened there and I would do everything in my power to ensure it never happens at BRFC. This story is obviously based on gossip or speculation, therefore I am reluctant to comment unless I hear further. What I will say is that I have contacted the Chairman in light of this story and other messages you may have seen to me on twitter to ask if there is any truth in this story or any consortium takeovers. NH has assured me that I would be the first to be informed if that were the case. I have to say no such conversation has taken place, therefore again I have to assume that this story is based on gossip and speculation.
best wishes Brian
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Post by swissgas on Oct 27, 2014 15:25:09 GMT
Don't worry Brian stamps all over the rumours Hi I have carefully read the comments on this forum. I also have a friend who is a Hereford United supporter who has given me a detailed account of what happened there and I would do everything in my power to ensure it never happens at BRFC. This story is obviously based on gossip or speculation, therefore I am reluctant to comment unless I hear further. What I will say is that I have contacted the Chairman in light of this story and other messages you may have seen to me on twitter to ask if there is any truth in this story or any consortium takeovers. NH has assured me that I would be the first to be informed if that were the case. I have to say no such conversation has taken place, therefore again I have to assume that this story is based on gossip and speculation. best wishes Brian Well that is a weight off my mind. If Nick receives an approach from anyone to take over the club Brian will be the first to know. Although of course he may not be able to then let us know because he is bound by confidentiality agreements. But at least if we keep asking on a regular basis and Brian keeps saying Nick has not told him that any take over approaches have been made we will know that to be the case. If however we keep asking and at any time Brian is unable to tell us whether or not Nick has told him of any take over approaches, because he is bound by confidentiality agreements, then we might deduce that a take over approach has in fact been made. Darlogas if you are reading this I can tell you it is not raining in Kuala Lumpur
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brizzle
Lindsay Parsons
No Buy . . . No Sell!
Joined: May 2014
Posts: 4,293
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Post by brizzle on Oct 27, 2014 15:54:47 GMT
From within the depths of an OTIB thread last week: "I was on a train to London on Saturday and 4 women were chatting about a guy and my ears *****ed up when one said 'he offered me a job when he owned Swindon (Town) and he has offered me a job at Bristol Rovers.' her friend asked 'has that gone through'. 'Not yet but its been agreed and going through due diligence'." Probably BS but worth keeping an eye on. Is that Willie Carson I wonder? But it's probably not worth keeping an eye on though.
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Post by Topper Gas on Oct 29, 2014 14:02:40 GMT
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Deleted
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Post by Deleted on Oct 30, 2014 1:10:19 GMT
Don't worry Brian stamps all over the rumours Hi I have carefully read the comments on this forum. I also have a friend who is a Hereford United supporter who has given me a detailed account of what happened there and I would do everything in my power to ensure it never happens at BRFC. This story is obviously based on gossip or speculation, therefore I am reluctant to comment unless I hear further. What I will say is that I have contacted the Chairman in light of this story and other messages you may have seen to me on twitter to ask if there is any truth in this story or any consortium takeovers. NH has assured me that I would be the first to be informed if that were the case. I have to say no such conversation has taken place, therefore again I have to assume that this story is based on gossip and speculation. best wishes Brian Well that is a weight off my mind. If Nick receives an approach from anyone to take over the club Brian will be the first to know. Although of course he may not be able to then let us know because he is bound by confidentiality agreements. But at least if we keep asking on a regular basis and Brian keeps saying Nick has not told him that any take over approaches have been made we will know that to be the case. If however we keep asking and at any time Brian is unable to tell us whether or not Nick has told him of any take over approaches, because he is bound by confidentiality agreements, then we might deduce that a take over approach has in fact been made. Darlogas if you are reading this I can tell you it is not raining in Kuala Lumpur Why would Brian trouble the Chairman when all he needed to do was write himself a letter and reply with all of the information that he's able to divulge to himself? He could even have enclosed a SAE to save himself the cost of having to buy a stamp to return the letter.
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Post by warmleygas on Oct 30, 2014 5:16:29 GMT
When everyone refers to these guys as "asset strippers", do they come in and start selling things off then? Good players, property etc etc? That is what asset stripping means right?
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Post by Topper Gas on Oct 30, 2014 8:45:57 GMT
I think you've overlooked our biggest assest the Mem, if they could buy out the BoD they are then sitting on an assest worth millions, just look what happened with Eastville in the past. The presentHereford Chairman, Lonsdale, has now been identified by BBC H&W as having a failed staduim project at Feltham where instead of building them a ground he used the area to dump a £1m+ of his company's land fill!! It doesn't sound like this gang got involved at Hereford for footballing reasons, so why would they now want to get involved at Rovers, do they sense they couldget the mem at a knock down price? twohundredpercent.net/?p=26256
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Post by Antonio Fargas on Oct 30, 2014 9:35:41 GMT
When everyone refers to these guys as "asset strippers", do they come in and start selling things off then? Good players, property etc etc? That is what asset stripping means right? Yes. Many businesses have an actual value lower than the sum of their parts. This is due to the obligations of running an ongoing concern. Football clubs, especially under-performing ones, are classic examples. If BRFC were a normal business it would probably be closed down. The main reason it keeps going is the board's desire to uphold the implicit contract with the local community (ie they are fans). If we ever got directors who didn't give a toss about this, they could make a load of money with very little effort.
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Deleted
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Post by Deleted on Oct 30, 2014 13:35:08 GMT
I think you've overlooked our biggest assest the Mem, I think we can take it that Sainsbury's won't be completing, so is there any equity left in the stadium after all of the external debt is paid and the directors have taken back the money secured against the ground?
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Post by lulworthgas on Oct 30, 2014 13:45:05 GMT
I love this forum! A conversation between a couple of fish wives on a train and everyone's convinced the board are selling up to asset strippers, yet legal documents in The public domain are scrutinised to death until an angle can be found to accuse the board of shortsightedness in their dealings with sainsburys! Maybe, just maybe we should back the board just a little, as deep down I'm pretty sure they have the best interests of our club at heart.
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Post by Topper Gas on Oct 30, 2014 13:46:16 GMT
Not sure what the external debt is at present but NH, the Director with the biggest debt, maybe happy to walk away if somebody clears a big slice of his debt now, say he takes £2-3m, that still leaves upards of £10m in equity. Hereford are very similar to use in having what appeared a "caring" Chairman in David Keytes in control with had plans for a fantastic new staduim who now appears to have shafted the whole club, I'm not saying NH would do that but it's clearly happened elsewhere so anything is possible.
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Post by Westcountry Gas on Oct 30, 2014 13:52:28 GMT
Nick was quick to quash the rumours in his Chairmans Report today.
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Deleted
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Post by Deleted on Oct 30, 2014 19:54:08 GMT
Not sure what the external debt is at present but NH, the Director with the biggest debt, maybe happy to walk away if somebody clears a big slice of his debt now, say he takes £2-3m, that still leaves upards of £10m in equity. Hereford are very similar to use in having what appeared a "caring" Chairman in David Keytes in control with had plans for a fantastic new staduim who now appears to have shafted the whole club, I'm not saying NH would do that but it's clearly happened elsewhere so anything is possible. Out of interest, what do you base the equity of (circa) £12m on? It's a 7 acre site, worth a lot less than £12m for development. Then there are the loans of the other directors, and as you point out, there is still some external debt. Unless they can get Sainsbury's to complete, the finances look a bit of a mess to me
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Post by Topper Gas on Oct 30, 2014 20:58:07 GMT
Perhaps a false hope somebody get £1.5m an acre for prime development land.
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toteend
Joined: May 2014
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Post by toteend on Oct 30, 2014 22:32:50 GMT
From memory, last years accounts showed the Mem valued at a nominal £3m with our total net position being £2.5m in debt.
I am led to believe that the value of the Mem for house building purposes is between £8m and £12m. This is why any possible asset strippers would be looking to get their feet under the table.
Our friends failed at Hereford because the stadium site is owned by the council, and there is no way the council will let it go to them. Here, the site is privately owned and therefore no such restriction applies.
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Deleted
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Post by Deleted on Oct 30, 2014 23:12:07 GMT
From memory, last years accounts showed the Mem valued at a nominal £3m with our total net position being £2.5m in debt. I am led to believe that the value of the Mem for house building purposes is between £8m and £12m. This is why any possible asset strippers would be looking to get their feet under the table. Our friends failed at Hereford because the stadium site is owned by the council, and there is no way the council will let it go to them. Here, the site is privately owned and therefore no such restriction applies. If the stadium shows on the accounts at a nominal £3m then when it's sold there will be some tax to pay won't there? So, by your calculations, the internal debt is circa £5.5m and rising. Add the external debt, there will be some big invoices arriving for legal representation, at £8m, by the time everyone is paid there may not be enough left over to buy a bag of chips on the way home? Someone said on here that Nick converted, was it £1m of loans into equity a while back, if that's true, why did he do that?
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dagnogo
Joined: June 2014
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Post by dagnogo on Oct 30, 2014 23:23:33 GMT
I love this forum! A conversation between a couple of fish wives on a train and everyone's convinced the board are selling up to asset strippers, yet legal documents in The public domain are scrutinised to death until an angle can be found to accuse the board of shortsightedness in their dealings with sainsburys! Maybe, just maybe we should back the board just a little, as deep down I'm pretty sure they have the best interests of our club at heart. Yeah they've done brilliantly so far. Keep the faith,they've taken us into non league but their next decision might be brilliant... This thread was going on before some s**thead mentioned it on a train.
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