PhilK66
Vital 1st Team Regular
Anyone who reveres Sir Keith and the great football he created for us doesn't deserve any bad names mate!You lot better not call me any names or else.
Anyone who reveres Sir Keith and the great football he created for us doesn't deserve any bad names mate!You lot better not call me any names or else.
A lot easier to walk away if you are selling a multi million pound development around a bigger stadium and the old ground can be sold for housing.
No. Evans won't start doing that until late September.I’m doing so because I keep getting called a c*** at games.
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.
You think it would be easy to get £2000 from 4000 regulars? I doubt it.
And secondly, you’d probably need some songs for cash flow especially if you transacted at the end of the season.
I imagine one of his sons would take over ownership of the club if he passed away.If he decided to walk then we would have to live with the consequences. None of us know exactly what would happen. There will come a point when obviously he gets fed up with the club and all it entails, and he could decide to quit on ill health grounds. What would happen if he died - and no I am not wishing death upon him - there are many unanswered questions. If he sold up we could be in a worse or better situation. All we can realistically do as supporters is roll with the situation and hope Evans is the key to better times ahead unless anyone has several millions in the bank to buy him out. Fasten your seatbelts come August.
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?
Theres no way he'd just walk away like that. When he talks of walking away he no doubt means putting the club 'on the market' and selling the club to the highest bidder asap.
Plenty of people do that. Lots of people invest significant sums in businesses and take only part of the shareholdings, leaving the lions share with the original owner, and the original owner to run it.
In fact I think there's a programme on BBC about it.
Can you imagine Scally as a silent owner when he has a veto on anything the Board may propose?Plenty of people do that. Lots of people invest significant sums in businesses and take only part of the shareholdings, leaving the lions share with the original owner, and the original owner to run it.
In fact I think there's a programme on BBC about it.
But Scally's recent outburst seems to be that he'd be tempted to sell the club completely, rather than look for 'investment', or step back into a silent owner role (no way would that be possible for someone like Scally).
The balance sheet may appear to be healthy but, until the forgiving of the £9m loan is explained, we have no idea if it's simply been moved off balance sheet and somehow Scally's still on the hook. Put that one to bed then we can all sleep a bitNo. Evans won't start doing that until late September.
Thanks for the responses. The bottom line is that I can not recall any club with a (supposed) healthy balance sheet being voluntarily placed in to administration, receivership or liquidation by it's owner.
I think Smurthwaite at Port Vale made similar threats but has hung on in there.
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.
You'd think so but I'm not sure that whoever forgave the debt doesn't have some hold stillAround 10 years ago the debt was around £9 million - and at a Shareholders Meeting, Scally told everyone that the debt had gone away (I forget the exact words, but IIRC he avoided saying "written off" ).
Most of the Accounting / Banking types on here were dubious ... and rightly so.
A couple of years ago the debt was spotted again in one of the other Companies in the Scally portfolio.
Presumably some sort of inter-company Guarantee.
But it isn't necessary to "clear the debt" to buy out an owner.
If the assets are worth £ 9,000,001 and the debt £ 9,000,000, then the main things that would make GFC worth more than £ 1 are:
a) future (positive) cash flow
b) goodwill
So a valuation of £8 million seems a stretch.
But if 1000 regulars would invest £1,000 each to take control .... would Scally accept £ 1,000,000 to retire to Dubai ?
Around 10 years ago the debt was around £9 million - and at a Shareholders Meeting, Scally told everyone that the debt had gone away (I forget the exact words, but IIRC he avoided saying "written off" ).
Most of the Accounting / Banking types on here were dubious ... and rightly so.
A couple of years ago the debt was spotted again in one of the other Companies in the Scally portfolio.
Presumably some sort of inter-company Guarantee.
But it isn't necessary to "clear the debt" to buy out an owner.
If the assets are worth £ 9,000,001 and the debt £ 9,000,000, then the main things that would make GFC worth more than £ 1 are:
a) future (positive) cash flow
b) goodwill
So a valuation of £8 million seems a stretch.
But if 1000 regulars would invest £1,000 each to take control .... would Scally accept £ 1,000,000 to retire to Dubai ?
If we are thinking of the same programme I can not see any of the seated assembly investing in a football club that does not pay dividends and then just leaving someone else to it.