Club Statement

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canveydagger
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Re: Club Statement

Post by canveydagger » Mon Feb 05, 2018 11:38 am

Ok I get that it's his money, but to allow budgets to be set on the assumption that he's funding to a certain level, so to then pull the plug mid season is a disaster.
Mike the dagger, it is a disaster for the club that Glyn has pulled the plug mid season, and for him to say at the start of the season he would back John Still to try and get us up this season, but EDITED maybe the club are using the line it was the fans trying to get Steve sacked from he job and the flags business, so Glyn get out of the deal (I don't know).

Maybe the club should not have spent all of Glyn money early in the season and maybe we might still have some to keep the club going till the club find another buyer (but it ok saying that after the event). It just seems the club at the minute the club going from one disaster to another with the way it dealt with the Tamplin deal to this.

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Mike the Dagger
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Re: Club Statement

Post by Mike the Dagger » Tue Feb 06, 2018 11:56 am

canveydagger wrote:
Mike the dagger, it is a disaster for the club that Glyn has pulled the plug mid season, and for him to say at the start of the season he would back John Still to try and get us up this season, but EDITED maybe the club are using the line it was the fans trying to get Steve sacked from he job and the flags business, so Glyn get out of the deal (I don't know).

Maybe the club should not have spent all of Glyn money early in the season and maybe we might still have some to keep the club going till the club find another buyer (but it ok saying that after the event). It just seems the club at the minute the club going from one disaster to another with the way it dealt with the Tamplin deal to this.
Budgets are set at the start of the season, when Glyn was fully committed so, when blaming the "board" for overspending Glyn's money, we should not forget that Glyn was at that point on the board, and was also the source of the funds that were being overspent.

Presumably he was happy that any commitments being made were going to be paid for?

dagger4eva
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Re: Club Statement

Post by dagger4eva » Tue Feb 06, 2018 12:06 pm

Mike the Dagger wrote:
canveydagger wrote:
Mike the dagger, it is a disaster for the club that Glyn has pulled the plug mid season, and for him to say at the start of the season he would back John Still to try and get us up this season, but EDITED maybe the club are using the line it was the fans trying to get Steve sacked from he job and the flags business, so Glyn get out of the deal (I don't know).

Maybe the club should not have spent all of Glyn money early in the season and maybe we might still have some to keep the club going till the club find another buyer (but it ok saying that after the event). It just seems the club at the minute the club going from one disaster to another with the way it dealt with the Tamplin deal to this.
Budgets are set at the start of the season, when Glyn was fully committed so, when blaming the "board" for overspending Glyn's money, we should not forget that Glyn was at that point on the board, and was also the source of the funds that were being overspent.

Presumably he was happy that any commitments being made were going to be paid for?
Absolutely irrelevant!!!

The fact is, money has been spent AGAIN on nothing more than a promise....

They did it with Tamplin's money and had to return it.

They did it this time and are now going to pay the price.

I repeat what I've said previously - IF and I mean IF we get lucky enough to find a new investor - perhaps they can ******** well wait until all paperwork is completed and signed before ANY additional funds (beyond our normal means) are spent. If that means we have to compete that particular season with the worst budget in the league then so be it. But for god's sake - cut your damn cloth accordingly!!

** sorry if you view this post to be just "more bollocks" **

lupins
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Re: Club Statement

Post by lupins » Tue Feb 06, 2018 12:11 pm

No need to be sorry when you summed up your own post so succinctly

Diggerthedog
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Re: Club Statement

Post by Diggerthedog » Tue Feb 06, 2018 12:40 pm

Agree with D4E here, the money should only be spent if it is in the account if not budget accordingly. Not only has the clubs future been gambled with but peoples livelihoods, those that work tirelessly behind the bars etc.

Richie
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Re: Club Statement

Post by Richie » Tue Feb 06, 2018 12:43 pm

But that logic is flawed surely. Example:

I'm an investor, I say I'm happy to commit £5 million each year for the next 5 years.

So you'd need to see all £25 million placed in the club's account before spending a penny of it?

Diggerthedog
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Re: Club Statement

Post by Diggerthedog » Tue Feb 06, 2018 12:46 pm

Richie wrote:But that logic is flawed surely. Example:

I'm an investor, I say I'm happy to commit £5 million each year for the next 5 years.

So you'd need to see all £25 million placed in the club's account before spending a penny of it?
Yes. Quite simple really, its called cashflow in the real world.

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Mike the Dagger
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Re: Club Statement

Post by Mike the Dagger » Tue Feb 06, 2018 12:47 pm

Richie wrote:But that logic is flawed surely. Example:

I'm an investor, I say I'm happy to commit £5 million each year for the next 5 years.

So you'd need to see all £25 million placed in the club's account before spending a penny of it?
You and your damn practical logic...

dagger4eva
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Re: Club Statement

Post by dagger4eva » Tue Feb 06, 2018 12:52 pm

Richie wrote:But that logic is flawed surely. Example:

I'm an investor, I say I'm happy to commit £5 million each year for the next 5 years.

So you'd need to see all £25 million placed in the club's account before spending a penny of it?
Wrong.

Saying you are going to commit £5m per year for 5 years is one thing.

Completing (in full) the relevant paperwork so you are legally the majority shareholder - and then budgeting for and spending that money is another.

I call up Arsene Wenger and 'say' I'm going to invest £300m over the next 3 years. He'd be pretty naïve /stupid / negligent to go out and put in an offer for Messi off the back of that promise' .... wouldn't you say??

Richie
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Re: Club Statement

Post by Richie » Tue Feb 06, 2018 12:59 pm

dagger4eva wrote:
Richie wrote:But that logic is flawed surely. Example:

I'm an investor, I say I'm happy to commit £5 million each year for the next 5 years.

So you'd need to see all £25 million placed in the club's account before spending a penny of it?
Wrong.

Saying you are going to commit £5m per year for 5 years is one thing.

Completing (in full) the relevant paperwork so you are legally the majority shareholder - and then budgeting for and spending that money is another.

I call up Arsene Wenger and 'say' I'm going to invest £300m over the next 3 years. He'd be pretty stupid to go out and put in an offer for Messi off the back of that promise' .... wouldn't you say??
I agree, both examples are obviously extreme to make the point. But as Glyn was known to the club for 15 odd years, it's obvious the club would trust him.

Particularly in the last year of parachute payments, if he was putting in 500k this year, he'd have to put in 1 million next year, just to get to the same level.

Glyn has done the dirty on the club, whether it's due to flags or not, and I've no reason to disbelieve the club statement, It's on him.

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ARNU
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Re: Club Statement

Post by ARNU » Tue Feb 06, 2018 3:21 pm

So you put your 5 mil in and within 5 games we start losing and everyone gets the arse because we haven't bought messi, don't like your md and there's no roof over one of the stands. Then people wave their A4 and flags about and....... oh been there!!

My point investing in a football.club is a thankless task with little or no payback.
Just a consumer.

Richie
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Re: Club Statement

Post by Richie » Tue Feb 06, 2018 3:43 pm

ARNU wrote:So you put your 5 mil in and within 5 games we start losing and everyone gets the arse because we haven't bought messi, don't like your md and there's no roof over one of the stands. Then people wave their A4 and flags about and....... oh been there!!

My point investing in a football.club is a thankless task with little or no payback.
That wasn't the discussion, but thanks.

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ARNU
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Re: Club Statement

Post by ARNU » Tue Feb 06, 2018 4:03 pm

I agree with whoever said that waiting for the £25 million to be in the account before spending any of it is a bit unrealistic. ( makes sense tho)
Just a consumer.

Diggerthedog
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Re: Club Statement

Post by Diggerthedog » Tue Feb 06, 2018 4:06 pm

ARNU wrote:I agree with whoever said that waiting for the £25 million to be in the account before spending any of it is a bit unrealistic. ( makes sense tho)
It is unrealistic but sensible if you have no plan B like a legal guarantee. No normal business practices seem to exists in the football world.

Chigwellian
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Re: Club Statement

Post by Chigwellian » Tue Feb 06, 2018 5:45 pm

It’s like this club is being run by a failed bar manager ... hmm

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