What would happen if Scally DID walk away? | Vital Football

What would happen if Scally DID walk away?

GillsBluenose

Vital Football Hero
This got me thinking (my head hurts).

He claims that none of the rich people in Kent and Medway have ever shown an interest in the club. Maybe true. Maybe not.

I can not recall any club in the league where a chairman or owner has resigned and left his position vacant. Effectively a ship without a captain. What exactly would happen then?

Perhaps he could move permanently abroad and just pay someone to run the club from top to bottom, making all the decisions and paying him/her some or all of his current salary.

Personally, I suspect that he is too much of a control freak to let that happen.

If it did, what would be the League's response?
 
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He wouldn't walk with all the finance left in Priestfield Stadium. If he sold the property and walked with no future director of the club, the Football League would impose a hefty fine.
 
This got me thinking (my head hurts).

He claims that none of the rich people in Kent and Medway have ever shown an interest in the club. Maybe true. Maybe not.

I can not recall any club in the league where a chairman or owner has resigned and left his position vacant. Effectively a ship without a captain. What exactly would happen then?

Perhaps he could move permanently abroad and just pay someone to run the club from top to bottom, making all the decisions and paying him/her some or all of his current salary.

Personally, I suspect that he is too much of a control freak to let that happen.

If it did, what would be the League's response?
I would guess that nobody has ever valued the club at anywhere near what he wants regardless of where they are from. As for him walking away we should be so lucky .Not a chance unless of course crowds go down to a level that leaves it impossible to pay anywhere near the sort of level he has been paying.
 
This got me thinking (my head hurts).

He claims that none of the rich people in Kent and Medway have ever shown an interest in the club. Maybe true. Maybe not.

I can not recall any club in the league where a chairman or owner has resigned and left his position vacant. Effectively a ship without a captain. What exactly would happen then?

Perhaps he could move permanently abroad and just pay someone to run the club from top to bottom, making all the decisions and paying him/her some or all of his current salary.

Personally, I suspect that he is too much of a control freak to let that happen.

If it did, what would be the League's response?
Read the Companies Act for starters
 
Scally has two positions vis a vis the Gills: [1] he is the owner and [2] he is a director/chairman of the group. There is third role being an owner/director of Three Directors Ltd, which is owed money by the Club. There is also the matter of a debt of £9m that was mysteriously forgiven but not done so without strings attached, I'm sure. Scally will not walk away unless it's with a big wedge and/or the foregoing taken care of.
 
This got me thinking (my head hurts).

He claims that none of the rich people in Kent and Medway have ever shown an interest in the club. Maybe true. Maybe not.

I can not recall any club in the league where a chairman or owner has resigned and left his position vacant. Effectively a ship without a captain. What exactly would happen then?
Not a cat in hells chance of him walking away. If it wasn,t for the Club he couldn,t maintain his lifestyle, if he could sell the Club for what he needs he would,make absolutely no mistake about it. He. Could nt payhimself 300g a year if he sold the Club f
Perhaps he could move permanently abroad and just pay someone to run the club from top to bottom, making all the decisions and paying him/her some or all of his current salary.

Personally, I suspect that he is too much of a control freak to let that happen.

If it did, what would be the League's response?
This got me thinking (my head hurts).

He claims that none of the rich people in Kent and Medway have ever shown an interest in the club. Maybe true. Maybe not.

I can not recall any club in the league where a chairman or owner has resigned and left his position vacant. Effectively a ship without a captain. What exactly would happen then?

Perhaps he could move permanently abroad and just pay someone to run the club from top to bottom, making all the decisions and paying him/her some or all of his current salary.

Personally, I suspect that he is too much of a control freak to let that happen.

If it did, what would be the League's response?
Not a cat in hells chance of him walking away without selling. Trouble is no one will pay what he wants for the business which is certainly not enough to earn him the 300g odd he takes out a year. His only way out is to convince a party to take on a stadium development and take a big sum from that. Which would be fine and a good trade as far as the Club is concerned but he has problems convincing interested parties it would appear (am presuming this obv) which is maybe why hes taken Tom Lawrence on board as CEO who as a lawyer, maybe able to present a more professional approach to interested parties.
If you want to see the back of PS its the only way it will happen.
Making weeping public statements denigrating certain supporters, in fact ,ALL supporters becuase lets face it we,ve all slagged him off at some time or another ( some more so ) just creates more antagonism and is no better than fans who have called Scally out at matches as some one else recently pointed out.
 
As I've said before, 4000 regulars, £2000 each = £8M. Would that be enough to buy out Scally? I know it's not that simple, but it's a start.
 
He wouldn't walk with all the finance left in Priestfield Stadium. If he sold the property and walked with no future director of the club, the Football League would impose a hefty fine.

I guess the FL would impose a fine, if it has that power, against GFC - the company - not PS - the person.
 
As I've said before, 4000 regulars, £2000 each = £8M. Would that be enough to buy out Scally? I know it's not that simple, but it's a start.
You’re right it isn,t and its like saying buy my house for 1 million when its worth say,150g....it just ain,t gonna happen !
 
You’re right it isn,t and its like saying buy my house for 1 million when its worth say,150g....it just ain,t gonna happen !

Not all the money would be for Scally. Need some for players etc, I'm just saying how easy it could be to raise £8M. It's a start as I say.
 
A pivotal part of the Companies Act is the trade off, ie limited liability in exchange for protection of creditors. Quite apart from what the EFL may do, there are laws in place that act as a safeguard - not only the Companies Act but others on the statute books that deal with the fiduciary responsibility of directors.

By walking away, Scally has two options: [1] stepping down and selling his shares or [2] liquidating the group of companies that make up GFC. Make of that what you will.
 
As I've said before, 4000 regulars, £2000 each = £8M. Would that be enough to buy out Scally? I know it's not that simple, but it's a start.
There's a well known saying " how do get a small fortune? You have a large fortune and buy a football club ".
I don't think £8million would be anywhere near enough to buy out the owner, clear the debt, meet EFL and bank financial guarantees and meet the day to day running costs.
 
We're struggling to get 3000 people to pay £300 for a season ticket, where are you going to find 4000 people to put in 2 grand?

A chance of owning a part of their beloved club, a few would want that. Not just small shareholders, and all would be a a part of the 100% shareholdings. I'm just talking theoretically :-)
 
There's a well known saying " how do get a small fortune? You have a large fortune and buy a football club ".
I don't think £8million would be anywhere near enough to buy out the owner, clear the debt, meet EFL and bank financial guarantees and meet the day to day running costs.

We have no debt... I've not idea how much it would take, I'm just showing how to make £8M :-)
 
As Wayne points out, Liquidation would be an option. As a lay person it seems to me that this would likely be the way that PS could exit if he so desired. I imagine that would mean an extra promotion from the National League & L2 and leave us without a club.
 
I had a nightmare vision of us becoming a community owned club administered by a board of posters on this site:

Chairman OSK (fashionable to have an overseas based chief)

Finance Director: WK

Community Relations and Diversity Manager: Valencia

Chief Scout: Waldo (there are no bad or underperforming players out there)

PR and Media : Chris Who

Coach : LancsGordo

Political Officer/Commissar : 58

Secretary : my girlfriend

Groundsman : Monty Don - nah! that would be too ridiculous
 
If I was in Scally’s shoes I’m not going anywhere until Blackburn have sold Bradley Dack for £15m and the club (aka me) get their 20% sell on fee (or whatever it is). I’m then p***ing off back off to Dubai with a £3m consultancy fee and claiming I’m doing so because I keep getting called a c*** at games. Might sell the ground off as well for good measure if I happen to still own it through all the smoke and mirrors that has gone on.
 
I had a nightmare vision of us becoming a community owned club administered by a board of posters on this site:

Chairman OSK (fashionable to have an overseas based chief)

Finance Director: WK

Community Relations and Diversity Manager: Valencia

Chief Scout: Waldo (there are no bad or underperforming players out there)

PR and Media : Chris Who

Coach : LancsGordo

Political Officer/Commissar : 58

Secretary : my girlfriend

Groundsman : Monty Don - nah! that would be too ridiculous

You lot better not call me any names or else.