[Official Site] CLUB STATEMENT: NEW BOARD OF DIRECTORS

Discussion in 'Bulletin Board' started by Newsbot, May 12, 2022.

  1. Loko the Tyke

    Loko the Tyke Administrator Staff Member Admin

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    Good question. One for the media or Fans' Forum attendees to ask.

    I'm sure questions will be collated nearer the time. I'm out of the country* sadly, but I'm sure Gally will take a list.

    *definitely dialling in though
     
  2. Dan

    DannyWilsonLovechild Well-Known Member

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    Completely depends on the shareholders agreement.
     
  3. lk3

    lk311 Well-Known Member

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    Honestly don’t know
     
  4. Exi

    Exile Well-Known Member

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    I've been looking at paras 48 and 50 about voting rights and percentages and removal of directors but can't be arsed reading the bits on shares 'cos they send me to sleep :D
     

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  5. Jay

    Jay Well-Known Member

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    I would have thought this whole thing was initiated by the Crynes and Nareev. It's the only thing that makes sense to me.

    From the letter it sounds like Neerav was here a lot and has grown to like the club as well as it being a financial investment. It would make sense to think that the Crynes and Nareev have become friends, or at the very least close work colleagues. They see one another at every game and have just worked together to take over the club. It sounds as if they have been just as appalled by the running of the club as the rest of the the fan base.

    So, what to do?

    Well, there's not a lot can be done about Chien Lee if he doesn't want to sell his shares or wants at least as much for them as he paid, when it's clear they're not worth anything like that much now. Or you just flat out can't afford them. But Paul Conway, well, he doesn't own many shares, he represents share holders. If those share holders could be contacted directly and convinced to ditch their representative and put another in place who will vote with Neerav and the Crynes then you've got the majority shares and you can disempower Chien too. Now that would take some very delicate and protracted negotiation, but it's the only scenario that rings true for me.

    All hypothetical of course
     
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  6. Loko the Tyke

    Loko the Tyke Administrator Staff Member Admin

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    I’m inclined to think you’re spot on with your post mate.

    But on this part, there’s still a small percentage that Conway and Hung have through PMG. It’s unclear whether that’s definitely as representatives for other shareholders, or just shares they took as owners of PMG the company.
     
  7. Hig

    Higgy Well-Known Member

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    I think he will want a profit on 3 million Jay.

    The squad when he bought higher now than it was then IMO.
     
  8. Arc

    Archerfield Well-Known Member

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    The value of the intangible assets is debatable but minimal when compared with the cash position of the club.

    On literally no real world valuation basis is the club worth more now than when it was bought.
     
  9. Jay

    Jay Well-Known Member

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    There was money in the bank when they bought it, millions, that's why it was worth something. Now there's nothing and a debt to the football league.

    Even if I agreed with you about the value of the squad, which I absolutely don't, it would make no difference to the fact that BFC was worth 10 million and is now worth much, much less.
     
  10. Hig

    Higgy Well-Known Member

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    Transfer spending and value of contracts a way to work out the value of a football club?
     
  11. Farnham_Red

    Farnham_Red Administrator Staff Member Admin

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    Just that and I’d argue about the squad as well Pinnock Lindsay Bradshaw Davies Moore Potts current squad only Helik worth close to the amount we sold Moore for
     
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  12. Jay

    Jay Well-Known Member

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    For whatever reason I keep saying that Paul Conway doesn't own many shares and people keep 'correcting' me saying that he actual does own shares. This is about the 5th or 6th time it's happened and I'm getting very confused. I say he owns shares but not many. The 'not many' is in comparison to other share owners and of a number that doesn't allow for much influence in terms of voting. I don't know how many exactly so I just say not many. But I don't say he hasn't got any. You've even quoted that I wrote "doesn't own many".
     
  13. Hig

    Higgy Well-Known Member

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    Not in December 2017 you wouldn't I don't think Farnham?

    They got battered by fans. rose tinted glasses.

    I honestly think these players are worth more.
     
  14. Loko the Tyke

    Loko the Tyke Administrator Staff Member Admin

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    Maybe I wasn’t clear but I was commenting that he might own them outright, rather than your suggestion that he’s just fronting up for other investors. That’s what isn’t completely clear at the moment.
     
  15. Jay

    Jay Well-Known Member

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    And Mowatt
     
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  16. Hig

    Higgy Well-Known Member

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    You'd have got about 50p for Mowatt Jay. He was out on loan.

    You can't judge them now. December 2017.
     
  17. Jay

    Jay Well-Known Member

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    It doesn't matter, it just keeps happening and I'm left scratching my head thinking Am I writing invisible m's?
     
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  18. Arc

    Archerfield Well-Known Member

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    Absolutely but not anywhere near as significant in the context of BFC as the balance sheet.

    The value of the players can be debated, the state of the transfer market is a factor but they are marginal when compared to the balance sheet.

    Just for note the depreciated value of the players is included in intangible assets on the balance sheet.

    At the end of 2018 the balance sheet value was £9.4m with around £4.3m in intangible assets. Likely position now -£2m net assets and a debt of £2m.

    If you can make a case for the club being more valuable against that back drop please let me know how.
     
  19. Jay

    Jay Well-Known Member

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    On another point, I think the supporters trust (well, you and Gally) have hit exactly the write tone regarding all this take over stuff. In that it looks a lot better than it did before, there's cause for some optimism, so let's give them a chance and see. No huge celebrations, just 'let's see how it goes.'
     
  20. Hig

    Higgy Well-Known Member

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    I've learnt a lot over the last few days from many on here.

    Just think the value of squad + value of the contracts + Football clubs at all levels raising in price it seems.

    Just don't think they would sell for less.
     

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