What can we expect to hear from the Football League today.. | Page 5 | PASOTI
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What can we expect to hear from the Football League today..

Quinny

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Jul 15, 2006
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Kenton, Devon
GibGreen":mokkr8n6 said:
Chris Dennis makes an excellent point as does a fellow poster back in the thread somewhere.

Since PB status was bestowed on Heaney, he has already influenced the finances of the club.

Of course, this could have been said of anyone else who had PB status, the difference being that KH is already involved in the running of a Football Club.

Any answer to my original question?

How can the share be transferred when the FL rules are quite clear?

If the money came direct from Heaney then, yes, he would be in breach of the Football League rules as he has influence on two clubs where one club is financially reliant on the other. If, though, the money came from another source (or more likely, through some recently set up company in, say Gibraltar who is run by an unknown - ginger - person) then he might get away with it.
 
Dec 2, 2010
272
5
Plymouth
GibGreen":ag47bfv2 said:
Quinny":ag47bfv2 said:
GibGreen":ag47bfv2 said:
Chris Dennis makes an excellent point as does a fellow poster back in the thread somewhere.

Since PB status was bestowed on Heaney, he has already influenced the finances of the club.

Of course, this could have been said of anyone else who had PB status, the difference being that KH is already involved in the running of a Football Club.

Any answer to my original question?

How can the share be transferred when the FL rules are quite clear?

If the money came direct from Heaney then, yes, he would be in breach of the Football League rules as he has influence on two clubs where one club is financially reliant on the other. If, though, the money came from another source (or more likely, through some recently set up company in, say Gibraltar who is run by an unknown - ginger - person) then he might get away with it.

Even though KH is the sole director at this time of PAFC Stadium Ltd?

I'm honestly not being argumentative, I'm just genuinely thick and have no idea how these things work!!

The only money he has ever put into the club (£300,000) was received a long time before PAFC Stadium was created.
 
R

Rupert

Guest
derbyshire_pilgrim":8ot438xb said:
Are they actually supposed to be saying anything today or is this another PASOTI truth?

There's no need for the Football League to say anything today. Argyle surrendered their League share as soon as they went into administration. They don't need to get it back to play League football this season. They can play a whole season without it, in theory.
 

Peter Jones

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Mar 4, 2004
266
0
Rupert":22783zlm said:
derbyshire_pilgrim":22783zlm said:
Are they actually supposed to be saying anything today or is this another PASOTI truth?

There's no need for the Football League to say anything today. Argyle surrendered their League share as soon as they went into administration. They don't to get it back to play League football this season. They can play a whole season without it, in theory.


Of course. However, FL agreement is a condition of the BIL sale and purchase agreements.

So there has to be clarity of sorts over the coming week...
 
Dec 2, 2010
272
5
Plymouth
Rupert":3u8uktth said:
derbyshire_pilgrim":3u8uktth said:
Are they actually supposed to be saying anything today or is this another PASOTI truth?

There's no need for the Football League to say anything today. Argyle surrendered their League share as soon as they went into administration. They don't to get it back to play League football this season. They can play a whole season without it, in theory.

They seem to be still waiting for Heaney.
From letter from the Football League
we will expect full transparency on all aspects of the exit from administration and we await further updates in that respect.
 
Dec 3, 2005
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Rupert":1oawlv35 said:
derbyshire_pilgrim":1oawlv35 said:
Are they actually supposed to be saying anything today or is this another PASOTI truth?

There's no need for the Football League to say anything today. Argyle surrendered their League share as soon as they went into administration. They don't need to get it back to play League football this season. They can play a whole season without it, in theory.

So what exactly is this Football Share - why do clubs need it? If clubs can carry on playing without it.

How does it restrict a club who hasn't got a Share.
 
djg145":2x2n7juf said:
So what exactly is this Football Share - why do clubs need it? If clubs can carry on playing without it.

How does it restrict a club who hasn't got a Share.

Each club who competes in the football league has to have the golden share. This is awarded when the league are happy that the owners meet the league's requirements. Argyle still have its share, which is why we can start this season. The issue is whether the new owners (BIL or the named person thereof) meet the league's requirements. If they don't, then the club cannot be sold to them.
 
V

Viridus_Agmen_100

Guest
Who would spend £300K, which the club has alread been paid...and walk away..with f*ck all?
 
Aug 7, 2005
615
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Paignton
Viridus_Agmen_100":2qi9d6be said:
Who would spend £300K, which the club has alread been paid...and walk away..with f*ck all?

it's only 6% or so of the estimated deal cost of £5 million (based on vague recollection it may be more). When you're dealing in 7 figure number deals like that it's not as substantial as it sounds. When you exchange contracts on a house you normally pay 10% deposit and you are rarely buying the silence of a whole professional team of solicitors and administrators in that scenario.

What's more telling in my mind is the lack of the further 700k as agreed. If Heaney was as confident as BG and PR make out that they are (in public) you would assume he would have followed through with the agreed exclusivity payments, paid the staff and in doing so answered the great many critics he knows he has.

My own personal conclusion is that 300k was a punt / considered gamble he was willing to take and is prepared to take the loss on the chin if things don't go his way. The full 1 million is a different story and says more about his confidence in the deal than the downpayment of 300k.

That said I don't think he will lose his money happily which is why we are in the hands of the administrator as to when he finally deems it the best way forward to cut him adrift and talk to Brent. Heaney won't turn round and admit defeat, he'll drag this process out until he can do so no longer
 
M

Marcus The Green

Guest
knecht":3hnrlcur said:
Does anyone know what the Truro fans think about Heaney?

I spoke to a few when I was going to the Truro game (I gave in because I got the Argyle bug back after going to Le Testimonial). The ones I spoke to think he has no money & is a chancer. He's still not paid the promotion bonus to the Truro squad. They want shot of him as much as we do & find all of his bid hilarious. Poor man's Dan Macualey was one description too.
 

Monster Green

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Jan 12, 2007
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So, we can start the season, with all the players that have 'agreed to sign' contracts? I mean, we'd be right in the poo if this wasn't the case?
 
Jan 4, 2005
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NEWQUAY
northroadwest1":24dplzi7 said:
Heaney is a victim of the corporate world just like we are. He is a locally based business man trying to buy a local football club.... A dying breed (hooray I hear you cheer). The Akkeron group is a corporate brand run by suits. I always try and spend my money in the independents as opposed to the globalised corporates and thats why I have an affiliation to heaneys bid. Warts and all he is just a locally based business man. The Akkeron group are the suits.

Right enough is enough, mods can you delete mariner. He has been entitled to his opinion in previous posts but this is just complete lies, that is posted purely to aggravate other members. Heaney is in no way, shape, or form a local man trying to buy a local football club. He is buying the club to seperate it from the land, build on the land and sell it for profit FACT. He already owns a club and is fully aware of the FL rules regarding ownership of 2 clubs. AND HE IS NOT LOCAL HE IS FROM ESSEX[/quote]

I read what you are trying to say, but believe me there is no chance of Heaney acquiring Argyle in his sole name. It will be a corporate acquisition just like the Akeron Group. The difference being that we know who is behind the Akeron Group as opposed to anonymous directors behind a Gibraltar based company. It is interesting to read William Hill plc's trading figures in todays paper. That is a Gibraltar based company too, as it avoids some of the rigours of corporate governance in the UK, as well as benefiting from a more relaxed tax regime. To generalise, it suits a major company whose business involves gambling. Let's hope the Heaney consortium know what they are doing and not gambling with the fate of a 125 year old professional football club.