If P.S put the club up for sale would he get his £1 back? | Vital Football

If P.S put the club up for sale would he get his £1 back?

There was a story going around that he turned down an offer of about £16m a year or two ago from a local businessman. Not sure of the validity of that.
 
I suspect he put in a lot more than that such as risking his property as collateral. The £1 had nothing to do with the value of the club, it was simply the consideration for buying the club in deficit, as required under contract law.
 
Nobby_66 said:
There was a story going around that he turned down an offer of about £16m a year or two ago from a local businessman. Not sure of the validity of that.
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We love a rumour on this site! I’d say that it’s BS. The commercials would never get in to the public domain and, if they did, I doubt that it would be structured as a simply as a one off sum.

But, it’s interesting question about the fair value of the club.

Wayne is far more knowledgeable about the accounts... Wayne - would you know:

- what’s the net assets across all the legal entities including the associated companies according to the latest accounts?

- any idea what the net discounted cash flow over 10 years would be assuming that (i) we stay in league 1 for that time; and (ii) we make it to the Championship for the next 10 seasons?
 
Wayne.Kerr said:
I suspect he put in a lot more than that such as risking his property as collateral. The £1 had nothing to do with the value of the club, it was simply the consideration for buying the club in deficit, as required under contract law.
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Wayne - doesn’t matter how many times you make the point - some people on here just don’t get it. They’re either stupid or they are so anti-Scally that they prefer to stick their fingers in their ears and repeat “la-la-la-la-la-la”.
 
Nobby_66 said:
There was a story going around that he turned down an offer of about £16m a year or two ago from a local businessman. Not sure of the validity of that.
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That is probably linked to the whole MEMS owner wants to buy the club rumour that both Scally and the MEMS chap have denied but some people think are lying about because of erm, some conspiracy reasons.

Apparently the offer was withdrawn when it was put to the bidder's attention that £9m has disappeared from the accounts and Scally refused to explain what happened to it.
 
Baghdad_Rob said:
Apparently the offer was withdrawn when it was put to the bidder's attention that £9m has disappeared from the accounts and Scally refused to explain what happened to it.
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Quick!

“Allegedly”, “?” , “Heard in the snug at the Queens Head”.

Phew! That was close.
 
On the basis he is making 400k a year from it and if an investor would want to break even after 3 years then 1.2 million plus the value of assets minus debts would be fair.
 
Trashbat said:
- what’s the net assets across all the legal entities including the associated companies according to the latest accounts?
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£3 million compared with minus £6 million the previous period
Trashbat said:
- any idea what the net discounted cash flow over 10 years would be assuming that (i) we stay in league 1 for that time; and (ii) we make it to the Championship for the next 10 seasons?
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Who knows? Depends on your own yard stick, ie do you want a 10% or 15% rate of return. Both unlikely in league football.
 
Nobby_66 said:
There was a story going around that he turned down an offer of about £16m a year or two ago from a local businessman. Not sure of the validity of that.
Click to expand...
Perhaps he has to pay off the £9m 'loan' so would want more than £16 m to make it worthwhile and who's going to pay that?
 
octopus said:
On the basis he is making 400k a year from it and if an investor would want to break even after 3 years then 1.2 million plus the value of assets minus debts would be fair.
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You expect Scally to sell assets valued at £6m+ for £1.2m?

Glad you’re not my investment manager.
 
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