Scally
- Thread starter vinney
- Start date
GillsBluenose
Vital Football Hero
The only bit I can believe is that they have fallen out to some degree, particularly if PS is still giving naff advice that they have followed and the season has clearly not gone as the Galinsons wished.
It would explain why he might have been demoted, and may have been indiscreet about his feelings.
The bit about HMRC seems to be unrelated to the rest so that probably has come from somebody trying to wind Fred up. I hope so, as the club may be implicated of true.
It would explain why he might have been demoted, and may have been indiscreet about his feelings.
The bit about HMRC seems to be unrelated to the rest so that probably has come from somebody trying to wind Fred up. I hope so, as the club may be implicated of true.
Gills_Horse
Vital Reserves Team
Yes I had. I’d heard a near identical version of events just after the Bradford game, from someone within the club. Also heard the same on Monday via someone I know (who knows someone senior at the club).
Supposedly he’s been demoted to block A of the Medway Stand on match days and his office only. He’s not involved in any decisions now at all, and there are allegedly ‘irregularities’ in our last 2 financial years, that may be under investigation.
Could be complete bollocks, and I’d like to distance myself from directly accusing him of what’s been alleged.
But yes I’ve heard the same.
bathnightattheminogu
Vital Reserves Team
If there were irregularities in the last two financial years’ then the Gallinsons should be looking at their own accountants for not doing the due diligence properly.
GillsBluenose
Vital Football Hero
Could their accountants have raised the issue, which may have caused the falling out?
bathnightattheminogu
Vital Reserves Team
Before any business is acquired the purchasers accountants will carry out a full and detailed due diligence.
The idea is that you discover and possible liabilities or skeletons before you buy.
If they are just discovering them now then that, for me, would be an issue.
Vambogills
Vital Football Hero
To protect yourselves, I would be wary of any bandwagon jumping at this stage.
The full facts could easily be much duller (or more spectacular).
The full facts could easily be much duller (or more spectacular).
TGPL
Vital Reserves Team
Wonder if the (reported) irregularities are related to staff payments. I've seen reports from multiple people on social media that did some work for the club as fans returned to stadiums claiming they were never paid. Would also align with why one of the accounts around covid time showed a very small amount of staff compared to the following year. Still speculation of course.
BlueToTheGills
Vital Youth Team
Even this was Scally's master plan it seems very unlikely he would be spilling the beans to Bradford directors unless he had quite a few to many.
Age and health are against him and quite honestly he would have zero support from the fans if he did regain control.
Age and health are against him and quite honestly he would have zero support from the fans if he did regain control.
TrustyGill
Vital Newbie
"demoted to Block A" ?
Not last Saturday.
Scally was sitting in the Directors block, with 2 young adults between him and the Galinsons.
He didn't look "ill" - but who knows ?
HMRC might well look into Scally's financial affairs.
Particularly after a significant event like the Takeover.
Someone on here speculated that Scally was entitled to £1,000,000 of Entrepreneur's Relief.
Tax breaks like E.R. have strict rules.
If they are supposed to be around "innovation", could that cover a football club ?
Either that, or the number of times E.R. can be used may be so few that HMRC look automatically at such events.
With Scally now being a minority shareholder, how much should we care about his tax affairs ?
Entrepreneur’s Relief is nothing to do with innovation.
alex_farrells_left_peg
Vital Squad Member
Here here! For all his faults, it is unlikely any of us would be on here airing our thoughts on an almost daily basis had he not stepped in.
Hope all goes well with him!
Yes, of course - if Scally has committed some 'irregularities' it must be someone else's fault.
Gills_Horse
Vital Reserves Team
It could well just be people who used to work for him, who have an axe to grind, spreading rubbish, but you also have to think there’s no smoke without some fire.
Will all come out in the wash in the future I guess - from what I’ve been told (dependant on who you hear it from) he’s here for the very least 3 years from the sale date, but a few others reckon 5.
Will all come out in the wash in the future I guess - from what I’ve been told (dependant on who you hear it from) he’s here for the very least 3 years from the sale date, but a few others reckon 5.
Vambogills
Vital Football Hero
3 years! Poor Mr Perry will have chewed his nails down to his elbows by then. 5 years and he may have turned himself completely inside out!
The sad price of allowing someone rent free space in your head.
MedwayModernist
Vital Squad Member
That sort of thing is quite common with takeovers - you buy out the previous owners and have a clause stating that they are required to remain working for a period of time post transfer.
It has a number of objectives behind it, in successful companies, you'd want at least a few of the original C suite involved for continuity to keep things running smoothly. In a more "negative" view, you'd also want the people who made the decisions running up to the takeover around to explain what they did, and also to take ownership of any errors and similar - if you were keen to sell and leg it, it could look quite suspicious that you're trying run away from your problems.
"nothing to do with" sound a bit hostile (unnecessarily ?
)According to this definition of "entrepreneur"....
"One who takes the initiative to create a product or establish a business for profit; generally, whoever undertakes on his own account an enterprise in which others are employed and risks are taken"
If you are tax expert, please enlighten us to the extent of Entrepreneur's Relief.
(I know that "property" investment is excluded from a number of Tax Reliefs - e.g. investing in AIM companies).
But as TG says, how much does this matter any more - other than morbid curiosity ?
MedwayModernist
Vital Squad Member
GillsBluenose
Vital Football Hero
I wouldn't be surprised if PS is now just a non executive director, as that seems to fit with what he is doing.
For those that don't know, the definition is:
"A non-executive director is a full member of the company's board of directors and responsible as part of the board for the success of the company. In contrast to executive directors, however, they do not have executive responsibilities within the company and are not an employee of it.
The fees will usually be paid monthly like a salary, but as you are not legally an employee, the pay is usually described as 'directors fees'. NEDs do not typically receive any other employee benefits, pension payments, or bonuses."
If that is the case, I could see just cause for relieving him of his duties due to measurement of "the success of the company" and missing the play offs, if he has been advising and BG sees it that way.
For those that don't know, the definition is:
"A non-executive director is a full member of the company's board of directors and responsible as part of the board for the success of the company. In contrast to executive directors, however, they do not have executive responsibilities within the company and are not an employee of it.
The fees will usually be paid monthly like a salary, but as you are not legally an employee, the pay is usually described as 'directors fees'. NEDs do not typically receive any other employee benefits, pension payments, or bonuses."
If that is the case, I could see just cause for relieving him of his duties due to measurement of "the success of the company" and missing the play offs, if he has been advising and BG sees it that way.
