tommyg wrote:So does anybody have an idea what the accounts figures will be for this season? I know it's not released to the public until next year but how close do we think it will be to the £542k losses we've recently reported for the season before last?
Although Thea is kindly clearing that £542k debt, am I right in saying she will not be covering this season's losses which means the new owners will not really be taking on a debt-free club?
When James Brent bought Argyle, as part of the deal he was required to underwrite the club's trading for his first year in charge, so I think underwriting such a thing is not that unusual.
Buying a football club is probably no different to buying a house, until the sale is agreed and everything is signed it can collapse at any moment.
Which is all very well if the club get new owners and they put the money in, if the club doesn't, what does it do to cover any potential losses then. Also, and this is just a suggestion and should be taken as such, maybe potential new buyers have looked at the figures for this season just gone, next years accounts, and could be that has put them off, maybe.
The club may well be debt-free but Thea was under-writing the club at a rate of 2k per day (as it has been alleged) then even when the clock is set back to zero, there are going to be costs that the club needs to be able to demonstrate it can cover. Now, some of the expensive players are gone but without Thea's input, I suppose there is a concern that the club will not be able to illustrate that it can cover its costs.
What the conference board will make of that is anyone's guess considering their recent record. So it is not doom-mongering, it is trying to wake people from their complacent slumber that this football club could be in enormous trouble if this deal - which seems likely - is dead.
Last edited by hector on 10 May 2015, 21:32, edited 1 time in total.
Well if it's only a £250k bond that is required then I can't see a problem. Surely the current board will be able to finance this, it is about the same as the cost of a semi-detached house in Shiphay. If they havn't got this sort of money ( or the ability to borrow it ) then how did they get a seat on the board in the first place?
That figure is less than Wayne Rooney's weekly salary, if we end up being expelled from the league over that it would indeed sum up everything that is wrong with modern football.
Bomber wrote:That figure is less than Wayne Rooney's weekly salary, if we end up being expelled from the league over that it would indeed sum up everything that is wrong with modern football.
The bottom end of football is just as much responsible as the top end
I have always wondered how the hell can Torquay United v Halifax, in front of 1500 paying people, have around 30 full time professionals involved
It's probably more silly than Wayne Rooney's salary, at least he is a commercial brand that is worth something
gullintwoplaces wrote:The Herald seems to be one step behind at the moment. No mention of the Board meeting today,
It's not really surprising, ever since it was sold a few years back the paper has slowly been turning into a rag. They post cookie cutter articles, use national news on their website, have about 10 different types of intrusive ads on their website, have gone to weekly and the quality of their journalism is nose diving as cuts are made and the new owners try to squeeze their local titles for as much profit as can be made. It's barely worth reading these days aside from the odd Dave Thomas article when he's not sucking up to the club.
To me this is the biggest thing to take from the article is:
"Mrs Bristow may be prepared to give her controlling share interest away for nothing, but that doesn't mean that the whole club is 'debt-free', far from it.
There are plenty of pressing jobs to tackle at Plainmoor, and any new regime wants to put the vast majority of its money into taking the club forward.
Club officials have confirmed current discussions aimed at leaving the club as 'debt-free' as possible."
Fairly obvious from that as to why the talks have stalled.
