Part 2 Section 9 subsection 3 has this paragraph So "extensive discussions with the Board" reveal "limited visibility" of the future. For me it all comes down to finance - are we going to end up with a bigger debt problem than we currently have? If the answer is "yes" then we are in trouble. And I simply can't see how a new company can possibly raise money at a better rate than the Good Lord and his billions.
NNW requested his post made not606 so here it is! Okay, so what we know is: Winter is effectively gone. Having been removed from the parent company's board, he's only going to stay on as CEO for so long. The board have gone as far as they can in opposing this, while at the same time hinting that this is probably the only option. As the initial proposal stands, none of the debt is being written off. It is Bassani's intention to turn us into a private limited company, something which I personally consider unlikely unless the bonds are converted, because the Russos simply aren't going to sell at 1p a share. Furthermore, the five year plan smacks of borrowing money on the basis that we will meet these deadlines. My assumption is that Bassani and the surgeon are paying for the shares out of their own pockets. I'm sorry, I don't see any positives in this whatsoever. I would genuinely rather we let the bonds expire and dare someone to call the debt in. I'd even have the Russos back over this. They threatened administration in a move that was in all probability posturing. This will almost certainly result in administration. add comment | complain about this comment
I would prefer to stay with Michael Ashcroft, he has no interest in football but would have protected his investment. I hope he is not placed in the seat of having to sell shares for a loss. This does not look right.
Ashcroft is not in a has to position but its clear that he doesn't want to continue this investment. He has empowered his people to divest at a loss as long as the loan remains protected so what he's leaving with is a loan to the club to be repaid over 5 years with interest 5% first year 3% subsequent years so not even breaking even there as he'd get more interest than that on deposit in certain countries accessible to him. I thank him for his time investing in the club and am sorry he hasn't made a profit as it reflects the fact we've not made a profit or sustained top level football (prem). The problem is that as the club is structured it can only make the required cashflow surplus through player sales so I would like to see what extra stream the new owners forsee to change this.
Aberdeen, why do you think that the doctor is involved? It cannot surely be just a few meetings at parents evenings. Is this where some of the extra revenue is anticipated to come from? Far too many questions floating around at this stage for my comfort.
My previous bad feelings about this whole deal have not been allayed at all. The sheares are going into the hands of a private company so in future we willnot have any idea at all of what the finances are.
As I said on 606 this reminds me of the worst days of Jack Petchey who just used the club for his own profit
I wish the Watty Obs would grow back its balls and do some proper interrogative reporting on this - their silence has halped the deal go through I am sure - GT will also need to do a bit of explaining as he is the one person we all trust to look out for the club's interests
I think the doctor is involved as he has some business ideas of his own. I believe there is a gap in the market for a specialist sports injury clinic and sports science centre and the football ground is ideally placed for such a development as part of the new stand. With the olympics next year there is a world stage on which to promote such a venture if it can be put together quickly. Sports science is key to performance achievement and there is a mountain of money to be made from the repair work required to "insured athletes". Totally conjecture but makes good sense to my brain from my angle having been involved in olympic athlete preparation and having experience of serious sports injury.
Am still greatly unhappy with all this , but as we dont have a choice, just have towait until someone tells us something! These people would do well to remember though that a club with no fans will not survive! and these fans would like some info on whats happening to THEIR club!!!
Well here they are. http://www.facebook.com/photo.php?f....155308774503573.30864.139830306051420&ref=nf I notice that Panos has moved to the front. I feel that there is a great deal more behind todays announcement. This was the SE notification, not the total reasoning for the bid. The WO might have something on their inside pages, but there is not much new on the front page apart from the picture.
It'll be very interesting when a proper interview takes place. The wobbies been very weak on this so far hope theres more interesting stuff in print tomorrow.
I echo that Aberdeen - we need some straight answers to the questions we have - not just heir new PR company giving us BS
Back from work , still no proper news then , still shady ,no facts about mr B is going to finance this!
