The cost of Brent's bid?

Iggy · Sep 22, 2011

This is a genuine question about the bid by Brent;
I understand that the football debt will be paid at 77p/£ by the club over a period of 3 years? I also understand that the Lombard mortgage will be settled by the council buying the ground?
Does this mean that Brent is putting in no money of his own other than building his hotel on the ground attached to the south stand?
As far as I can see (ignoring the integrity and honesty issues) the only difference between Brent and BIL is the council involvement. I would rather see Brent than BIL for obvious reasons however I have been wondering for a while whether it is fair or even sustainable to lumber a struggling league 2 club with the football debt?
Like it or not the time for questions like these is now, I am not trying to de-rail a bid but I would like to have the freedom to question the new regime.

Womble · Sep 22, 2011

Hi Iggy

I think you may have misunderstood the process. I am a bit confused when you talk about lumbering the club with the debt; it IS the clubs debt! As I understand it Brent will have to dig into his own pockets to find money to immediatley pay staff wages and backpay, as well as covering the current running costs of the club. The deal with the council is no certain thing, and it certainly will not happen in the immediate future, this will be a long process.

Plus any investment in the playing side will have to come from Brent as well, as he will not want to invest in a non-league club. The long term aim of self-sufficency is good and proper, but it is obvious he will have to put cash in initially to make the club viable for the future.

Mark Pedlar · Sep 22, 2011

Will he though? Nothing to stop him saying he's going to get control of the club and invest in the playing side but then running the playing side down and concentrating on the hotel - which let's all face it, is what he's really interested in.

Some serious questions need to be asked of him on Saturday morning.

Graham Cox · Sep 22, 2011

Think It's only 0.0077p

Tavypilgrim · Sep 22, 2011

Mark Pedlar":31fao9i8 said:
Will he though? Nothing to stop him saying he's going to get control of the club and invest in the playing side but then running the playing side down and concentrating on the hotel - which let's all face it, is what he's really interested in.

Some serious questions need to be asked of him on Saturday morning.

The playing side has already been run down. Even if the football club has to support itself on gate receipts and merchandise it will be better than our current predicament.

crownhill pilgrim · Sep 22, 2011

Mark Pedlar":3fkxztb3 said:
Will he though? Nothing to stop him saying he's going to get control of the club and invest in the playing side but then running the playing side down and concentrating on the hotel - which let's all face it, is what he's really interested in.

Some serious questions need to be asked of him on Saturday morning.

There's nothing to stop him bulldozing the car park and building a retirement home for old Morris Men... he probably won't though.

TheDriver · Sep 22, 2011

crownhillpilgrim":1qurazxv said:
There's nothing to stop him bulldozing the car park and building a retirement home for old Morris Men... he probably won't though.

I think you'll find there is, same as if you or I want to build in our garden - it's called Planning Permission!

Fans ReUnited - SUPPORTING FOOTBALL

TheDriver · Sep 22, 2011

In response to the original post, while I agree with your general perspective, I believe you are well off-beam with your financial hypothesis. I'm not qualified to answer, and wouldn't presume to interpret the legislative rationale. I think you could find a lot of information on here and other sources, although some settlements will remain Business-in-confidence. But you're right, it would be interesting to raise some questions - whilst remembering not all would get willing answers for a variety of reasons.

Fans ReUnited - SUPPORTING FOOTBALL

Iggy · Sep 22, 2011

Womble":1h2kwsie said:
Hi Iggy

I think you may have misunderstood the process. I am a bit confused when you talk about lumbering the club with the debt; it IS the clubs debt! As I understand it Brent will have to dig into his own pockets to find money to immediatley pay staff wages and backpay, as well as covering the current running costs of the club. The deal with the council is no certain thing, and it certainly will not happen in the immediate future, this will be a long process.

Plus any investment in the playing side will have to come from Brent as well, as he will not want to invest in a non-league club. The long term aim of self-sufficency is good and proper, but it is obvious he will have to put cash in initially to make the club viable for the future.

Hi Womble, I don't think I have misunderstood the process, whether the bones of what I have said are right or wrong I don't know, that is why I tried to pose my OP as a question, and I am happy to be corrected if I have misunderstood anything. My main concern is over the football debt which I understood had to be resolved to gain the football league share. I am sure that I have read on here that Brent proposes to settle that by paying it off by using the TV money over a three year period. As I have said I am happy for anyone to correct me if wrong. If this is the case I would see it as the club being lumbered with a debt not of its making- unless that is you include the M7 and the administration process to date as a debt of the club? I do not have a problem with living within our means in the future I just think it will be impossible to do whilst helping someone to buy a large building plot, we need a clean slate. When Heaney was trying to do it all hell was let loose, now Brent is trying to do it we are told by those "in the know" to trust them and Brent and wait and see, sorry but until I am in the know I will ask questions, after all if Brent has nothing to hide, why not spill the beans?

Anonymous · Sep 22, 2011

I say for the minute,after all the grief. Let's just be thankfull for what we might have!
A clean state is not what we're entitled to unfortunately. We are argyle and are in the soup, I think we are extremely lucky to have Brent trying to aquire us. Considering what argyle as a company has to offer at the present time. We should feel extremely fortunate to have anyone interested in us at all. Let alone someone who wants to run us in a stable fashion again,and someone who doesn't want to screw us for our ground

Greenblooded1 · Sep 22, 2011

Biggest difference is that I don't think he's selling the club to Risdale for £1 & keeping the ground, he's doing the opposite really (obviously not for £1 though).

He is taking over financial responsibility for the club. I guess if he was clever enough he could negotiate (as BiL could have), good enough terms to repay debts from the club over time. However, repaying debts from the club obviously depends upon the club generating revenues, which either way should be good for the team. The more successful we are, everyone wins.

It still takes seriuos wedge to get things going though, for example the council may take some time to actually cough up etc.

Gary Wills · Sep 22, 2011

dave-1975-pafc":1p13rx4l said:
I say for the minute,after all the grief. Let's just be thankfull for what we might have!
A clean state is not what we're entitled to unfortunately. We are argyle and are in the soup, I think we are extremely lucky to have Brent trying to aquire us. Considering what argyle as a company has to offer at the present time. We should feel extremely fortunate to have anyone interested in us at all. Let alone someone who wants to run us in a stable fashion again,and someone who doesn't want to screw us for our ground

I sense some self-esteem issues..

Anonymous · Sep 22, 2011

Gary_Wills":1ku50upa said:
dave-1975-pafc":1ku50upa said:

I say for the minute,after all the grief. Let's just be thankfull for what we might have!
A clean state is not what we're entitled to unfortunately. We are argyle and are in the soup, I think we are extremely lucky to have Brent trying to aquire us. Considering what argyle as a company has to offer at the present time. We should feel extremely fortunate to have anyone interested in us at all. Let alone someone who wants to run us in a stable fashion again,and someone who doesn't want to screw us for our ground

Click to expand...

I sense some self-esteem issues..

so your saying we should expect a rich benifactor to come in and wipe all our debts out to go on and start a fresh? Where have you been the last two or so years?
Clearly if the case we wouldn't be in this position at present

Gary Wills · Sep 22, 2011

I'm implying there's unlikely to be any philanthropy, that's all.

Relief that it might happen, but frankly can sum this up as regional entrepreneur to take 'calculated' venture into unknown on ailing but relatively highprofile local business, with minimal investment given said business's historic descent.

Santa's still sipping sangria in his speedos as far as Christmas arriving.

Anonymous · Sep 22, 2011

Gary_Wills":1eo6vhrq said:
I'm implying there's unlikely to be any philanthropy, that's all.

Relief that it might happen, but frankly can sum this up as regional entrepreneur to take 'calculated' venture into unknown on ailing but relatively highprofile local business, with minimal investment given said business's historic descent.

Santa's still sipping sangria in his speedos as far as Christmas arriving.

"said business historic descent"
There you are.

The cost of Brent's bid?

Iggy

Womble

Mark Pedlar

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Graham Cox

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Tavypilgrim

crownhill pilgrim

TheDriver

TheDriver

Iggy

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Greenblooded1

Gary Wills

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Gary Wills

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