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Post by a more piratey game on May 20, 2019 6:07:42 GMT
So Swiss, Ed Ware is the property developer, UWE "was" the new site, but DS put a ridiculous valuation for the club in Autumn 2018 and Wael wanted to stay on board, mainly because a football owner is more sexy than being General Manager in a struggling Middle Eastern Bank. Which bit of this is untrue? That seems like a decent shout to me If it is right, where would it leave the club - at UWE, though without additional income streams and with owners whose interests lie outside of football? |
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Post by fatherjackhackett on May 20, 2019 6:59:13 GMT
My thought for the day - As a prominent member of the massively failed Higgs administration (also the place we were heading), why doesn’t Ed Ware just disappear, stop continually trying to unsettle the club and STFU for a while. About two decades should suffice...
Wael is going absolutely nowhere, so put up or shut up.
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Peter Parker
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Post by Peter Parker on May 20, 2019 7:21:53 GMT
My thought for the day - As a prominent member of the massively failed Higgs administration (also the place we were heading), why doesn’t Ed Ware just disappear, stop continually trying to unsettle the club and STFU for a while. About two decades should suffice... Wael is going absolutely nowhere, so put up or shut up. Agree to an extent. How is Ed Ware supposedly able to make something happen now and where was he when it was all going wrong 4 years ago. Things must be going well for him since leaving Rovers. If he is the answer, i am sceptical of the small print in the question |
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Post by vaughan on May 20, 2019 7:56:17 GMT
In truth, we had the same deck of cards when he was involved in Club before resignation.
Maybe, he was hoodwinked like all of us that we were being taken on by serious investors, so stood aside.
In the words of The Boomtown Rats, "it's a rat trap and we've been conned".
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Post by Peter Parker on May 20, 2019 8:10:01 GMT
In truth, we had the same deck of cards when he was involved in Club before resignation. Maybe, he was hoodwinked like all of us that we were being taken on by serious investors, so stood aside. In the words of The Boomtown Rats, "it's a rat trap and we've been conned". Was he hoodwinked by his wife who worked on the sainsburys case as well |
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eppinggas
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Post by eppinggas on May 20, 2019 8:39:06 GMT
Dwane Sports is a vehicle of AJIB. We are de facto owned by a bank. Is it? I thought it was an autonomous entity. What precisely do you mean by 'vehicle'? How many more times Bamber? I talk sh*t. The vehicle, for the record, is a Morris Marina. |
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Post by eppinggas on May 20, 2019 8:41:23 GMT
In truth, we had the same deck of cards when he was involved in Club before resignation. Maybe, he was hoodwinked like all of us that we were being taken on by serious investors, so stood aside. In the words of The Boomtown Rats, "it's a rat trap and we've been conned". That's paraphrasing... it's "caught" not "conned". Crikey, it's going to be a long summer. |
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Post by a more piratey game on May 20, 2019 8:48:17 GMT
In truth, we had the same deck of cards when he was involved in Club before resignation. Maybe, he was hoodwinked like all of us that we were being taken on by serious investors, so stood aside. In the words of The Boomtown Rats, "it's a rat trap and we've been conned". That's paraphrasing... it's "caught" not "conned". Crikey, it's going to be a long summer. beat me to it. It is important to quote these things accurately my favourite line is 'down past the gasworks, by the Eastville Club door' |
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Post by Deleted on May 20, 2019 9:58:59 GMT
Is it? I thought it was an autonomous entity. What precisely do you mean by 'vehicle'? How many more times Bamber? I talk sh*t. The vehicle, for the record, is a Morris Marina. No need to be like that, was just trying to understand what you mean by saying that the FC is a vehicle. |
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Post by eppinggas on May 20, 2019 10:23:27 GMT
How many more times Bamber? I talk sh*t. The vehicle, for the record, is a Morris Marina. No need to be like that, was just trying to understand what you mean by saying that the FC is a vehicle. No worries, I wouldn't take everything I say at face value... particularly after mid-night. Feel free to ignore the "vehicle" reference. My point was that we are effectively owned by a Bank. Dwane Sports does not appear to be a stand alone entity. Without AJIB financial backing surely there is no Dwane Sports? For the record I am not an accountant and do, very occasionally, talk sh*t. |
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Post by Deleted on May 20, 2019 10:46:05 GMT
No need to be like that, was just trying to understand what you mean by saying that the FC is a vehicle. No worries, I wouldn't take everything I say at face value... particularly after mid-night. Feel free to ignore the "vehicle" reference. My point was that we are effectively owned by a Bank. Dwane Sports does not appear to be a stand alone entity. Without AJIB financial backing surely there is no Dwane Sports? For the record I am not an accountant and do, very occasionally, talk sh*t. Fair enough. One of the biggest problems with this type of forum is that it's often difficult to read the exact tone of everything that's said. I thought you were saying that the FC served some purpose for the owners' primary business. Unless their objective is to lose money I was struggling to see what that purpose was. DS is an autonomous entity. Whether it makes a profit or loss has no bearing on that status. Anyway, enough of that, let's get back to bickering. |
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Post by eppinggas on May 20, 2019 11:11:47 GMT
No worries, I wouldn't take everything I say at face value... particularly after mid-night. Feel free to ignore the "vehicle" reference. My point was that we are effectively owned by a Bank. Dwane Sports does not appear to be a stand alone entity. Without AJIB financial backing surely there is no Dwane Sports? For the record I am not an accountant and do, very occasionally, talk sh*t. Fair enough. One of the biggest problems with this type of forum is that it's often difficult to read the exact tone of everything that's said. I thought you were saying that the FC served some purpose for the owners' primary business. Unless their objective is to lose money I was struggling to see what that purpose was. DS is an autonomous entity. Whether it makes a profit or loss has no bearing on that status. Anyway, enough of that, let's get back to bickering. If it's an autonomous entity that loses money... then isn't it bankrupt? Again - I'm not an accountant, I just don't see how Dwane Sports can survive without liquidity from AJIB. Anyway - the Accounts are out and I'll leave it to the experts to take them apart and report back. Happy bickering in the meantime. UTG. |
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Post by Deleted on May 20, 2019 11:28:11 GMT
Fair enough. One of the biggest problems with this type of forum is that it's often difficult to read the exact tone of everything that's said. I thought you were saying that the FC served some purpose for the owners' primary business. Unless their objective is to lose money I was struggling to see what that purpose was. DS is an autonomous entity. Whether it makes a profit or loss has no bearing on that status. Anyway, enough of that, let's get back to bickering. If it's an autonomous entity that loses money... then isn't it bankrupt? Again - I'm not an accountant, I just don't see how Dwane Sports can survive without liquidity from AJIB. Anyway - the Accounts are out and I'll leave it to the experts to take them apart and report back. Happy bickering in the meantime. UTG. It's not bankrupt unless it's liabilities exceed it's assets and it has no means to service its debt. You'll have to help me out here. Who is it that gives the guarantee to cover any financial liabilities, is it the owners or AJIB? |
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Post by Deleted on May 20, 2019 11:41:46 GMT
If it's an autonomous entity that loses money... then isn't it bankrupt? Again - I'm not an accountant, I just don't see how Dwane Sports can survive without liquidity from AJIB. Anyway - the Accounts are out and I'll leave it to the experts to take them apart and report back. Happy bickering in the meantime. UTG. It's not bankrupt unless it's liabilities exceed it's assets and it has no means to service its debt. You'll have to help me out here. Who is it that gives the guarantee to cover any financial liabilities, is it the owners or AJIB? The directors / shareholders |
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Post by Deleted on May 20, 2019 11:58:15 GMT
It's not bankrupt unless it's liabilities exceed it's assets and it has no means to service its debt. You'll have to help me out here. Who is it that gives the guarantee to cover any financial liabilities, is it the owners or AJIB? The directors / shareholders In this case I believe it's specific Directors giving personal guarantees, so nothing to do with their other business interests? BTW, welcome back, hope you are well. |
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Post by Cheshiregas on May 20, 2019 12:39:17 GMT
The directors / shareholders In this case I believe it's specific Directors giving personal guarantees, so nothing to do with their other business interests? BTW, welcome back, hope you are well. oldie is right. The directors/shareholders have to state, where a company is effectively insolvent (liabilities > assets), in writing that they will continue to support the company. This is so the accountants can sign off the accounts for 'going concern' purposes, i.e. the liabilities of the company can be met so that it can continue to trade. Bamber . The term 'vehicle' is a shortening of the term 'Special Purpose Vehicle' which is a term used where a company is set up for a specific purpose. For example a few years back some BRFC directors, Steve Lansdowne and the owners of Eastville Stadium set up a company ~ South Gloucestershire Arenas Ltd' ~ when it looked that the move to a new purpose built stadium was going to happen in Avonmouth. As the event didn't happen the company was dissolved without trading. |
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Post by Deleted on May 20, 2019 12:49:28 GMT
The directors / shareholders In this case I believe it's specific Directors giving personal guarantees, so nothing to do with their other business interests? BTW, welcome back, hope you are well. Still hanging in mate. |
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Post by Deleted on May 20, 2019 14:04:56 GMT
In this case I believe it's specific Directors giving personal guarantees, so nothing to do with their other business interests? BTW, welcome back, hope you are well. Still hanging in mate. That bad eh? |
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Post by Deleted on May 20, 2019 14:09:15 GMT
In this case I believe it's specific Directors giving personal guarantees, so nothing to do with their other business interests? BTW, welcome back, hope you are well. oldie is right. The directors/shareholders have to state, where a company is effectively insolvent (liabilities > assets), in writing that they will continue to support the company. This is so the accountants can sign off the accounts for 'going concern' purposes, i.e. the liabilities of the company can be met so that it can continue to trade. Bamber . The term 'vehicle' is a shortening of the term 'Special Purpose Vehicle' which is a term used where a company is set up for a specific purpose. For example a few years back some BRFC directors, Steve Lansdowne and the owners of Eastville Stadium set up a company ~ South Gloucestershire Arenas Ltd' ~ when it looked that the move to a new purpose built stadium was going to happen in Avonmouth. As the event didn't happen the company was dissolved without trading. I'm lost with the company structure. Who owns the stadium and who runs the FC? Yes, I know what a 'Vehicle' means, but thanks for the confirmation. All these stadium plans get a bit confusing. I thought that the Avonmouth thing was long after Eastville and was when Spud first came to our attention? Sounds like there has been more than 1 Avonmouth plan. |
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Post by Peter Parker on May 20, 2019 14:23:10 GMT
oldie is right. The directors/shareholders have to state, where a company is effectively insolvent (liabilities > assets), in writing that they will continue to support the company. This is so the accountants can sign off the accounts for 'going concern' purposes, i.e. the liabilities of the company can be met so that it can continue to trade. Bamber . The term 'vehicle' is a shortening of the term 'Special Purpose Vehicle' which is a term used where a company is set up for a specific purpose. For example a few years back some BRFC directors, Steve Lansdowne and the owners of Eastville Stadium set up a company ~ South Gloucestershire Arenas Ltd' ~ when it looked that the move to a new purpose built stadium was going to happen in Avonmouth. As the event didn't happen the company was dissolved without trading. I'm lost with the company structure. Who owns the stadium and who runs the FC? Yes, I know what a 'Vehicle' means, but thanks for the confirmation. All these stadium plans get a bit confusing. I thought that the Avonmouth thing was long after Eastville and was when Spud first came to our attention? Sounds like there has been more than 1 Avonmouth plan. Unless i am misunderstanding you, i thought the structure was pretty simple. Dwane Sports owns 92% of 1883ltd, which in turn owns the Football club and Memorial Stadium Dwane just happens to be 4 people as opposed to say Nick Higgs owning 92% of the company Dwane techincally run the club, but they employ a CEO to do the day to day running of stuff. I thought it was previously confirmed that certain things (wage budget, transfer funds etc) were passed to Dwane for sign off |
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