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OxheyWFCs leaked email

Discussion in 'Watford' started by geitungur akureyrar, Feb 23, 2011.

  1. geitungur akureyrar

    geitungur akureyrar Well-Known Member

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    Please would you pass on this email to Vijay for him to review and understand why we would be so happy with the Watford deal as the details have unfolded in the last 24hours, indeed Penmarric have confirmed they prefer it to the Charlton deal
    When Charlton FC put us on 'hold' for the week it became clear that we would look further at the two other deals we have been collating information on through out time we have looked at Charlton, one of the deals was instantly dismissed upon further investigation but the other, Watford, became a real eye opener
    The key reason for Watford moving forwards was in fact the involvement of Lord Ashcroft in the sale of the football club as his bank effectively owns the club and are looking to move it on, however he would not reveal anything further unless we said we were genuinely interested which we did yesterday
    Our team have spent 8 hours today locked in talks going through the deal and the basic DD that is required for us to complete and to do so within the criteria that M Shah has
    For your guidance there is some detail on Lord Ashcroft available via a basic google or indeed on his website www.lordashcroft.com he was basically the biggest independent funder of the Conservative party so he holds close relationship with the current Government, this will reveal itself as significant later in the email
    Watford for the last two years have been run by Lord Ashcrofts business team form the bank and as such they have dealt with all of the bad debt and by his own admission have worked to cut the costs and make the business run effectively but have not touched the massive potential income generation which they always expected new owners would take over and make work
    We have been asked to pay £1.4 million to purchase the stock in the club with a further injection of £5 million to cover initial running costs for the next 18 months, we will then need some seed capital for the property company to commence plans for the new site etc.
    Lord Ashcroft has conceded that it will be very easy ti increase the income and profit into the club
    Watford Football Club currently sits in mid table in the Championship Division (div above Charlton) and are four points off a promotion play off place to the Premier League
    They currently have a total debt of £10 million however this is UNSECURED as it is Directors Loans and there is a repayment plan in place to repay them with payments commencing in 24 months, we also have another plan put to them which it seems would be even better and we await their approval
    The club is facing a 12 month deficit of £2.2 million (Charlton was £4.8)
    Watfords Academy is revered as one of the best in the UK already and they got massive press two years ago when they were the first and only club in England to adopt the continental system so revered at Ajax and they attached a school to their Academy, therefore the pupils can play more football whils they do not lose out on the education and parents do not have their children out at all hours pursuing their dreams.
    The Watford Academy is prolific and is responsible for nearly ten members of the current first team squad almost unheard of at this level in the game, they of course famously spurned the likes of David James, Paul Robinson and Ashley young. This is an academy that is already therefore set up for the easy importation of young talent from abroad with schooling on the doorstep
    The training ground is Arsenals old one at Colney and is revered as one of the finest pitch wise and is only in need of some small modernisation to have it at pristine condition, a cost of circa 300k would revolutionise the showers and dressing room areas that are needed for the spirit of the players etc
    The Stadium is the very interesting point as it has a value of approximately £20 million compared to Charltons £33 million but it has more value than Charltons as it is totally unencumbered and we would purchase 100% of the club!!!!
    HOWEVER Lord Ashcroft explained where the ''cherry is on the cake'', please bear with the following tale
    Watford FC sits rather uniquely in the grounds of the biggest Hospital in the county and is a headache to the Council and even more so to the Governments new decree about hospitals but there is more to it than that, long standing Mayoress of Watford Dorothy Thornhill has spoken with great openness to Lord Ashcroft and asked for Government help with regard to the football club. The issue is that due to the football club there is a one way system in co-peration which greatly restricts the traffic into and out of the Hospital and her fear is that it is only a matter of luck that no one had died due to the inability of ambulances to get in and out when there is agame on. This has become a feature as with the Rugby Club Saracens also playing at the ground this has meant that around 70 plus days per year this is relevant
    Her wish and earnest request to Lord Ashcroft, which now has Government support, is that the club be granted some land of around 25 acres as a gift from the Council / Government for safety reasons and additionally the club will be paid a ransom rate for leaving the current site. They will then redo the roads into and out of the hospital and make a car park facility immediately.(Charlton the plot we wer looking at required us to pay £29 million in acquisition costs)
    She is also aware that the club owns some planning permission for development around the ground to include a railway link, shopping facility and a 5,000 car car park and she will compensate for this loss also, this will throw to the hospital not only the stadium area but the adjoining allotments which were inaccessible to the hospital with the stadium in the way.
    The new 25 acre plot would be granted and the club will be treated very fairly for all types of planning permission that is required to facilitate the financial security going forward rather like the Southampton model with their council
    There are additional opportunities in property plays within the Borough, Lord Ashcroft has not been proactive and did not expect to have the club for so long (nearly two year)
    Watford also has a strong playing squad with lots of interest in three players which will be sold either with new owners or not as the fees on offer are too good to turn down and it is relatively easy to replace players effectively
    An example of this is the goalkeeper at Watford who is called Scott Loach who has ambitions above Watford and is so highly rated that even as a Championship keeper he was called into the full England Squad last week for the match with France and this was his third call up. Spurs are on public record as bidding £2.2 and £3 milliion plus add ons which was rejected. Since these bids the club very cleverly got Loach to sign a new three year contract which will vastly increase the bid Spurs must make.
    Indeed they have confirmed they will try again in January where the price is rumoured to approach £5 million ......we think we may even get more.
    I asked our team to quickly see if as new owners we could afford to sell him and replace him with someone as good if possible and today it was confirmed to me that we can get David James in on a free transfer as he would love to finish his career where he started
    There are two other similar deals in the club.
    We have in place Graham Taylor who is Non Executive Chairman who is a Watford legend and he wishes to carry on working with us in an honoury position as Life Time President
    Lord Ashcroft has confirmed to us that he has been in touch with Watfords biggest fan, and former owner, Elton John and he has intimated his wishes to meet with the new owners as soon as they are in place to see what he can do to help as he is interested in helping as much as he can. Lord Ashcroft accepted that Elton John was not too keen to help him as they were not owners as such just administrators
    The deal has turned out to be infinitely superior to the Charlton deal on all fronts which was surprise to us as we went into the hard DD today and in terms of Mr Shah we would like to request the following deal -
    Loan of £7million
    Secured by debenture on Caistorian who will own the football club 100% and the £30 million plus in assets, the debenture written up to the level of security desired but will include the fact that no one can be granted any charges on the assets whatsoever
     
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  2. geitungur akureyrar

    geitungur akureyrar Well-Known Member

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    As our friend who found this is not a member here yet I thought I would reproduce what he found.

    The text is long and badly writen. If a professional person with knowledge of this sort of thing had writen this I think it would be an easier read.
     
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  3. Leo

    Leo Well-Known Member

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    Impossible to know if this is a wind up or not - most of the facts seem genuine as far as I know them so whoever wrote this has knowledge not only of the club but the council, mayoress etc. It looks every bit like an internal note and despite speliing mistakes ( I liked "spurned" when they meant "spawned" - an almost 100% different meaning) it could well be a note passing between people who are sniffing around
     
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  4. wear_yellow

    wear_yellow Well-Known Member

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    AK - I saw this up on a scummer message board and wondered where it had came from. It looks like a right load of ****e and as you say, if that was a serious businessman who wrote it...well gawd help us...
     
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  5. Norwayhornet

    Norwayhornet Well-Known Member

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    quite simply put a load of bollocks
     
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  6. Norwayhornet

    Norwayhornet Well-Known Member

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    some muppet has too much time on their hands and maybe they should get a job!!
     
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  7. Leo

    Leo Well-Known Member

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    Still for a wind up it is quite an extensive narrative - not sure why someone would go to such lengths - what do they get out of it - apart I suppose from reading us debate their material :(
     
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  8. Norwayhornet

    Norwayhornet Well-Known Member

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    Lack of command of english language speaks volumes!
     
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  9. Leo

    Leo Well-Known Member

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    MInd you - when I used to be at work I saw far worse internal memos in terms of grammar and spelling than this - from supposedly senior people
     
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  10. Norwayhornet

    Norwayhornet Well-Known Member

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    True enough! now you come to mention it!
     
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  11. Norwayhornet

    Norwayhornet Well-Known Member

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    One more to become old Leo;)
     
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  12. Leo

    Leo Well-Known Member

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    I have arrived!! :)
     
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  13. Norwayhornet

    Norwayhornet Well-Known Member

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    Now maybe some humble pie to munch! The bad English could be down to something like the authors second or third language is English!
    The £7 M was correct!
     
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  14. geitungur akureyrar

    geitungur akureyrar Well-Known Member

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    If I could write a business letter twice as good as this I would be embarrassed.
     
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  15. oldfrenchhorn

    oldfrenchhorn Well-Known Member
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    I am still uncertain just what Mr. B is up to. Once again an Indian connection, the financial advisers say they know a lot about sport and India.

    When the above first came to be published I said at the time that it seemed a very elaborate wind-up, and I have also seen far worse English from English management.

    As this was supposedly written six months ago things will have moved on. Yet some of the detail could still be true.

    Don't know, but I will be surprised if it is Mr. B on his own.
     
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  16. Hornette_TID

    Hornette_TID Well-Known Member
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  17. Norwayhornet

    Norwayhornet Well-Known Member

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    that it ! just Hmmm, I was expecting some womanly insight, some female intuition!
     
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  18. Hornette_TID

    Hornette_TID Well-Known Member
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    lol...i can't work out if this is real or not. If it isn't...what person in their right mind would spend so much time and effort..and research so much...and if it is...i'm more nervous than ever!

    To be honest, i'm gullible enough to think it's real...in which case, a lot of it sounds very convincing...and gives us more of an insight into what's possibly going to happen, but then again..doesn't give us any clues as to the hows and the wherefores...so we're no nearer with this than we were before, real or not!

    Better than hmmm or not? lol
     
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  19. Norwayhornet

    Norwayhornet Well-Known Member

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    Yes thank you much better! I bet at school you got the ok but could do better line;) ......I did!
     
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  20. Hornette_TID

    Hornette_TID Well-Known Member
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    lol always! It wasn't that i was lazy, i just couldn't be bothered lol
     
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