Spotlight on ............................. Gauthier Ganaye

Discussion in 'Bulletin Board' started by Young Nudger, Jan 16, 2018.

  1. jud

    judith charmers Well-Known Member

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    Wether you like cryne or not the bloke saved the club and has hopefully sold it to a consortium who can build on what we have.....your comments towards PC are nothing short of shameful at times, you James are one very sad individual who appears to enjoy being controversial.....you appear to be a total wanker really.
     
  2. Con

    Conan Troutman Well-Known Member

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    I know you are a bit hard of thinking but you do realise that we don't all have to share the same opinion don't you? For some Patrick is almost bordering on sainthood. Not for me. Please give some examples of these "shameful" comments. I think you are just confusing the fact that you don't agree.

    If it is sad to have your own opinion then so be it. I also consider you to be a complete wanker :)
     
  3. Dan

    DannyWilsonLovechild Well-Known Member

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    Its often useful looking at other clubs and considering our relative position and how we've done in comparison.

    Of course you could say we've not moved in the time of Patricks tenure. We're still low end of the championship after all. We've been down, and we've thankfully gotten back up again.

    If you look in League 1, there are clubs I recall being in the top flight in the last 30 years or so, and some that have recent trophies too. Wigan, Blackburn, Bradford, Charlton, Portsmouth, Oxford, Blackpool and Oldham.

    Drop down to League 2, you have Luton, Coventry and Swindon too. I'm sure any of those clubs would be delighted to be in our position.

    You've also got clubs in the Championship that have invested tens if not hundreds of millions and/or have had the benefit of parachute payments and are still struggling to compete. Sunderland, Birmingham, Bolton, Hull (all below us currently).

    Reading, Wendys, Forest, QPR, Norwich and Ipswich all within 12 points of us.

    So yes, we may not be on the cusp of promotion, but considering where we've been and that we've not had the fan base, the commerciality or a mega rich owner willing to flaunt the rules of FFP, we've not done bad considering.
     
  4. Xer

    Xerxes Well-Known Member

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    That is an impossibility. The club had over 200 shareholders, and it had been a registered limited Company since the 19th century. It’s like saying that if Chien Lee went to the Chairman of Carillon and offered a loan, that if it wasn’t paid the Company was his.
     
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  5. RedKestrel

    RedKestrel Well-Known Member

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    Don't get these continually negative, defeatest and energy sapping thread starters.. are one or 2 of the commenters on here living in an ivory tower or are they non bfc fans even.. ????#bewildering
     
  6. Gally

    Gally Administrator Staff Member Admin

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    Don't think it was a loan. I believe it was a 2million pound share rights issue that PC had agreed to underwrite. Essentially making additional shares available to buy to existing share holders (or sell to other interested parties if they did id not take up their option). Obviously, if a shareholder did not opt to take up the offer to buy additional shares then their shares would be diluted. PC would have bought up all remaining shares as underwriter and probably ended up a significant shareholder in BFC. 2million quid injected into the business and administration averted. Should have been taken to the shareholders.
     
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  7. Red

    Red Rain Well-Known Member

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    This is something that I was not aware of, but one question immediately springs to mind, and that is would £2m have been enough. The problem with football clubs is that once the fans see the FOR SALE signs going up, they tend to desert in droves. My feeling is that a fire sale would have only brought more trading losses. I am amazed that Mr Dennis has survived with a seemingly better reputation than Mr Cryne, at least in some eyes. Do people not understand that he nearly cost us our football club.
     
  8. Mapplewell Red

    Mapplewell Red Well-Known Member

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    Really enjoyed reading this thread, particularly after the content turned moved away from the rather tedious GG bashing. David Conn has written several very interesting and insightful articles regarding the whole Dennis, administration, Doyle, Lewis and Cryne saga, well worth a Google if anyone’s so inclined.
     
  9. Gally

    Gally Administrator Staff Member Admin

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    I guess we'll never know. The actual money owed at the time of administration was in the order of 100s of thousands of pounds but there was a significant liability in the shape of player wages. Maybe it would have bought the club time to trade players to get out of that situation?
     
  10. Red

    Red Rain Well-Known Member

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    I can't remember. Who was there left to trade?
     
  11. Con

    Conan Troutman Well-Known Member

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    Gally has explained it better but an offer was made. What this says to me is that Cryne wanted the club and this reluctant custodian notion is pie in the sky. In my opinion as someone who hates Patrick Cryne of course.
     
  12. Gally

    Gally Administrator Staff Member Admin

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    Hehe. I can't either but I know the wage issue was a big one and moving those players on was proving difficult.
     
  13. Red

    Red Rain Well-Known Member

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    He would only have bought the share that remained unsold. If the shareholders had taken up their entitlement, he would not have bought any shares and BFC would have been £2m better off and still in the same hands. There was never a chance that he would be 100% owner of BFC because the original shareholders would have retained their shares, even if they bought no more.

    Why this constant raft of attacks upon Mr Cryne.? Why try to turn everything upon its head in order to present Mr Cryne in a bad light?
     
  14. Con

    Conan Troutman Well-Known Member

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    Morgan, Miller, Dyer and Sheron might have been the biggest "assets". Probably the highest earners.
     
  15. Gally

    Gally Administrator Staff Member Admin

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    Correct although it seems unlikely that the shareholders would find 2million quid back then. I don't think the club even knew who owned many of the shares right?
     
  16. Ext

    Extremely Northern Well-Known Member

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    No that was a reason given by JD to knock back a couple of 'rescue packages'/offers as the articles of memorandum required all shareholders to vote and the difficulties of that - up to your own view as to the legitimacy of that position. I know that one shareholder well versed in company law (now deceased) was quite vocal in his view that JD and the board mishandled the entire process.
     
  17. Red

    Red Rain Well-Known Member

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    I saw something at the time which suggested that John Dennis was buying up the existing shares as they became available. My guess is that a large proportion of the rights issue would have fallen to be paid by him. Perhaps that is why he wasn't keen on the idea. He knew that he did not have the cash and would be signing away the company to Cryne.
     
  18. Con

    Conan Troutman Well-Known Member

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    Exactly.
     
  19. Gally

    Gally Administrator Staff Member Admin

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    My understanding was that he backed it initially but they decided to go down the route of underwriting it with the help of the bank and that's when the true financial issues were unveiled to the bank.
     
  20. Red

    Red Rain Well-Known Member

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    That is what happens when you **** up. Your toys get taken away.
     

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