ALK Capital or Farnell/Elkashashy takeover

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Row Z
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Re: ALK Capital...

Post by Row Z » Tue Sep 29, 2020 10:18 pm

Danieljwaterhouse wrote:
Tue Sep 29, 2020 10:14 pm
Depends if the contract was to a cost, I can’t imagine we wouldn’t work to a cost and add penalties to the contract. The very nature of the build was time restricted, so it would be stupid not to include penalty clauses to safeguard the timely completion.
I recall that there were issues in the ground which would no doubt have been relevant events under the terms of the contract and provided extra costs and time to resolve at the clubs expense.

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Re: ALK Capital...

Post by Row Z » Tue Sep 29, 2020 10:21 pm

ewanrob wrote:
Tue Sep 29, 2020 10:15 pm
Are you suggesting that other parties are now interested or have I read that completely wrong
I read it as the leak was by another interested party with a view to them offering a more attractive proposal, with a potential legal claim being lodged between the separate interested parties.

Sounds messy and doesnt suggest that anything is close to being resolved in the short term?

Wile E Coyote
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Re: ALK Capital...

Post by Wile E Coyote » Tue Sep 29, 2020 10:31 pm

its tough being a fan thesedays, I can never recall big debates about the clubs finances. it was all about the team.
now we have supporters split on what deal would be the most beneficial. clearly no one has a clue. I must admit to being impressed though by the knowledge on financial issues on here. (not sarcasm)
it all looks an incredibly complex matter.
I just hope when the dust settles, the club can push on and succeed.

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Re: ALK Capital...

Post by ClaretTony » Tue Sep 29, 2020 10:33 pm

Chester Perry wrote:
Tue Sep 29, 2020 10:11 pm
I am aware of that CT, but it is very rare in any form of project that additional time does not cost additional monies, and we know these were far from insignificant issues.

I know you and Roy have the occasional disagreement, but I don't believe Roy would wantonly mislead on such an issue. It could be I misinterpreted the value though,
Nothing to do with Roy. It’s from information I’ve received from very reliable sources.

randomclaret2
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Re: ALK Capital...

Post by randomclaret2 » Tue Sep 29, 2020 10:34 pm

Wile E Coyote wrote:
Tue Sep 29, 2020 10:31 pm
its tough being a fan thesedays, I can never recall big debates about the clubs finances. it was all about the team.
now we have supporters split on what deal would be the most beneficial. clearly no one has a clue. I must admit to being impressed though by the knowledge on financial issues on here. (not sarcasm)
it all looks an incredibly complex matter.
I just hope when the dust settles, the club can push on and succeed.
Do you not remember the Ingleby/ Shackleton/Kilby dramas ?

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Re: ALK Capital...

Post by Steddyman » Tue Sep 29, 2020 10:39 pm

ewanrob wrote:
Tue Sep 29, 2020 10:15 pm
Are you suggesting that other parties are now interested or have I read that completely wrong
He hasn't suggested that. He's just given a reason for why something being made public while still under an NDA can complicate matters.
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Re: ALK Capital...

Post by Chester Perry » Tue Sep 29, 2020 10:41 pm

ClaretTony wrote:
Tue Sep 29, 2020 10:33 pm
Nothing to do with Roy. It’s from information I’ve received from very reliable sources.
I am sure that Roy will join me in willing that is the outcome the club achieved

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Re: ALK Capital...

Post by Wile E Coyote » Tue Sep 29, 2020 11:13 pm

randomclaret2 wrote:
Tue Sep 29, 2020 10:34 pm
Do you not remember the Ingleby/ Shackleton/Kilby dramas ?
yes, but they were only dramas for middle class accountants

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Re: ALK Capital...

Post by Vegas Claret » Tue Sep 29, 2020 11:39 pm

Danieljwaterhouse wrote:
Tue Sep 29, 2020 9:41 pm
In the same sense that if a club agree a fee with another club for a player, and then that’s leaked to the press, and other clubs now start sniffing and potentially offering more money, or a more attractive offer you’d be pretty annoyed at being gazumped. The club might hold off on signing that asset over to you in the hope they might achieve a higher price with a second or third party.

You might be inclined to use the terms of the original agreement to seek financial recompense against the third party who leaked the availability of the player to the media.
so are you intimating we could have more than one interested party ?

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Re: ALK Capital...

Post by UpTheClaretsFCBK » Wed Sep 30, 2020 5:56 am

Paul Waine wrote:
Sun Sep 27, 2020 12:24 am
Article in The Times, Saturday about "blank cheque companies" - otherwise known as Special-Purpose Acquisition Companies, SPACs.

Posting it because it may throw some light on ALK Investment's plans to raise capital. On the other hand, so far as I'm aware there has been nothing said by ALK themselves that a SPAC forms part of any plans they might be pursuing.

The article does mention Billy Beane, of "moneyball" fame - "thought have its eyes on a top-flight English football club and "recently hired Richard Scudamore as a director."

I've picked out a few "taster" paragraphs.

The hot fund that’s like handing a blank cheque to its creators
Spacs can make huge returns for those who set them up but very little for ordinary investors


https://www.thetimes.co.uk/article/0c7c ... 8f8dd5ff70

"Blank cheque investment funds are all the rage in America this year. Prominent figures from business, politics and sport have raised tens of billions of dollars before going on the hunt for acquisitions."

"Such is their soaring popularity that blank cheque funds account for 43 per cent of all the money raised from initial public offerings (IPOs) in the US this year, research conducted for The Times shows. This is, by some distance, the largest proportion for any year in the last decade, and it comes in what is a bumper year for IPOs of all kinds."

Big names and numbers aside, blank cheque funds are changing the way that private companies go public. They are clearing a shortcut to the stock market, along a route that is shaded from the prying eyes of sceptical investors, stock exchange officials and government regulators.

More formally known as special purpose acquisition companies, or Spacs, blank cheque funds raise money from investors through IPOs before listing their shares on a stock exchange.

Nonetheless, American funds are looking for targets across the Atlantic. A $575 million Spac co-chaired by Billy Beane, the baseball executive portrayed in Moneyball, starring Brad Pitt, is thought to have its eyes on a top-flight English football club. The company recently hired Richard Scudamore, the former executive chairman of the Premier League, as a director.

UTC
Beane was involved in helping a consortium of investors buying Barnsley, headed by Chinese Billionaire Chien Lee who also owns OGC Nice.

Last season they signed 17 players and let go 21 players.
Finished 21st in the Championship scraping staying up.
They've already lost their first three games of this season.

This consortium have been involved in the running of the club since 2017.
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Duffer_
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Re: ALK Capital...

Post by Duffer_ » Wed Sep 30, 2020 7:38 am

Chester Perry wrote:
Tue Sep 29, 2020 10:41 pm
I am sure that Roy will join me in willing that is the outcome the club achieved
Do we just need to will it so?


20200930_073645.jpg
20200930_073645.jpg (30.76 KiB) Viewed 5662 times

Spike
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Re: ALK Capital...

Post by Spike » Wed Sep 30, 2020 9:11 am

UpTheClaretsFCBK wrote:
Wed Sep 30, 2020 5:56 am
Beane was involved in helping a consortium of investors buying Barnsley, headed by Chinese Billionaire Chien Lee who also owns OGC Nice.

Last season they signed 17 players and let go 21 players.
Finished 21st in the Championship scraping staying up.
They've already lost their first three games of this season.

This consortium have been involved in the running of the club since 2017.

So those who want the current Chairman removed want to replace him with a SPAC!

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Re: ALK Capital...

Post by Chester Perry » Wed Sep 30, 2020 9:14 am

Duffer_ wrote:
Wed Sep 30, 2020 7:38 am
Do we just need to will it so?



20200930_073645.jpg
I think someone misinterpreted (willfully?)

aggi
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Re: ALK Capital...

Post by aggi » Wed Sep 30, 2020 10:07 am

Dark Cloud wrote:
Tue Sep 29, 2020 6:55 pm
Question: If Garlick only owns 49.?% of the shares does someone else not have to agree to sell also or the Americans don't really achieve their aim of "overall control"? So it might not actually be in MG's hands
Realistically there's about 3 or 4% of shares that are spread between 1,500 or so people with them mainly owning 1 or 2 each. It's unlikely you could put together the opposition to block anything.

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Re: ALK Capital...

Post by Dark Cloud » Wed Sep 30, 2020 10:22 am

aggi wrote:
Wed Sep 30, 2020 10:07 am
Realistically there's about 3 or 4% of shares that are spread between 1,500 or so people with them mainly owning 1 or 2 each. It's unlikely you could put together the opposition to block anything.
Yes, I get that, but what I was saying/asking was with Garlick only having 49.24% of the shares, him alone deciding to sell doesn't give ALK overall control, so us on here constantly discussing whether MG wants to sell or not, isn't the full story.

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Re: ALK Capital...

Post by aggi » Wed Sep 30, 2020 11:03 am

Dark Cloud wrote:
Wed Sep 30, 2020 10:22 am
Yes, I get that, but what I was saying/asking was with Garlick only having 49.24% of the shares, him alone deciding to sell doesn't give ALK overall control, so us on here constantly discussing whether MG wants to sell or not, isn't the full story.
Yes, I'd forgotten to refresh and missed the later discussion on the shares.

Although the 49.24% may not technically a majority it is, realistically, a controlling interest given the way the shares are distributed.
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KateR
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Re: ALK Capital...

Post by KateR » Wed Sep 30, 2020 4:07 pm

minority shareholders have rights, depending upon shares held, 5%, 10%, 15% and 20% each level can have different rights, what is not known, for me anyway, is what does the shareholder agreement say in regard to rights. There are legal rights for minority shareholders to protect them to a certain extent, regardless of what the shareholder agreement says.

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Re: ALK Capital...

Post by aggi » Wed Sep 30, 2020 4:34 pm

KateR wrote:
Wed Sep 30, 2020 4:07 pm
minority shareholders have rights, depending upon shares held, 5%, 10%, 15% and 20% each level can have different rights, what is not known, for me anyway, is what does the shareholder agreement say in regard to rights. There are legal rights for minority shareholders to protect them to a certain extent, regardless of what the shareholder agreement says.
The articles are pretty standard. There are extra minority shareholder rights, this is a reasonable summary https://www.crippspg.co.uk/shareholders ... ?pdf=26431 , but nothing that is really going to impact on this situation.

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Re: ALK Capital...

Post by KateR » Wed Sep 30, 2020 4:52 pm

I have been a minority shareholder of 10% and I had veto rights written in to the shareholders agreement, regarding share offering that would dilute my 10% stake and also including outright sale to a majority stake holder. As I said, I have no clue whatsoever, what is in the BFC shareholders agreement, maybe those holding some shares will know, I don't. Probably a moot point in reality.

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Re: ALK Capital...

Post by aggi » Wed Sep 30, 2020 5:05 pm

KateR wrote:
Wed Sep 30, 2020 4:52 pm
I have been a minority shareholder of 10% and I had veto rights written in to the shareholders agreement, regarding share offering that would dilute my 10% stake and also including outright sale to a majority stake holder. As I said, I have no clue whatsoever, what is in the BFC shareholders agreement, maybe those holding some shares will know, I don't. Probably a moot point in reality.
There is a right to buy shares if there is a share offering (in order to avoid diluting your shareholding) but nothing allowing any veto of sales, etc

The details can be seen at companies house website.
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Re: ALK Capital...

Post by KateR » Wed Sep 30, 2020 5:23 pm

aggi wrote:
Wed Sep 30, 2020 5:05 pm
There is a right to buy shares if there is a share offering (in order to avoid diluting your shareholding) but nothing allowing any veto of sales, etc

The details can be seen at companies house website.
thanks for the info, I'll give reading BFC shareholders agreement a miss thank you :)

ClaretAL
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Re: ALK Capital...

Post by ClaretAL » Thu Oct 01, 2020 9:42 am


claretgilly
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Re: ALK Capital...

Post by claretgilly » Thu Oct 01, 2020 3:36 pm

A company called Calder Vale Holdings Limited has just been registered on Companies House, Alan Pace among the directors. Suspect the deal is quite close to completing.

https://beta.companieshouse.gov.uk/company/12919689
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Re: ALK Capital...

Post by arise_sir_charge » Thu Oct 01, 2020 3:45 pm

claretgilly wrote:
Thu Oct 01, 2020 3:36 pm
A company called Calder Vale Holdings Limited has just been registered on Companies House, Alan Pace among the directors. Suspect the deal is quite close to completing.

https://beta.companieshouse.gov.uk/company/12919689
I expect that this is quite significant as it now 'links' ALK to the club.

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Re: ALK Capital...

Post by dibraidio » Thu Oct 01, 2020 3:48 pm

It seems to me that the investment of the minority shareholders isn't worth the paper that it's written on.

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Re: ALK Capital...

Post by claretandy » Thu Oct 01, 2020 3:57 pm

claretgilly wrote:
Thu Oct 01, 2020 3:36 pm
A company called Calder Vale Holdings Limited has just been registered on Companies House, Alan Pace among the directors. Suspect the deal is quite close to completing.

https://beta.companieshouse.gov.uk/company/12919689
Good find !

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Re: ALK Capital...

Post by claretonthecoast1882 » Thu Oct 01, 2020 3:59 pm

claretgilly wrote:
Thu Oct 01, 2020 3:36 pm
A company called Calder Vale Holdings Limited has just been registered on Companies House, Alan Pace among the directors. Suspect the deal is quite close to completing.

https://beta.companieshouse.gov.uk/company/12919689
Probably waiting for the transfer window to close before investing a few quid

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Re: ALK Capital...

Post by 775claret » Thu Oct 01, 2020 4:04 pm

Who are Velocity Sports registered in Jersey?

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Re: ALK Capital...

Post by onewillieirvine » Thu Oct 01, 2020 4:06 pm

Claretgilly - Would you have any idea how long companies would normally be registered, before any takeover occurs please?

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Re: ALK Capital...

Post by Dougall » Thu Oct 01, 2020 4:07 pm

arise_sir_charge wrote:
Thu Oct 01, 2020 3:45 pm
I expect that this is quite significant as it now 'links' ALK to the club.
Clearly it links them to the UK, but how does it link them to BFC?

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Re: ALK Capital...

Post by Goobs » Thu Oct 01, 2020 4:08 pm

claretgilly wrote:
Thu Oct 01, 2020 3:36 pm
A company called Calder Vale Holdings Limited has just been registered on Companies House, Alan Pace among the directors. Suspect the deal is quite close to completing.

https://beta.companieshouse.gov.uk/company/12919689
This is even more fun than watching Sky Scanner (or whatever it's called) for planes 🙂

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Re: ALK Capital...

Post by OffTheBar » Thu Oct 01, 2020 4:13 pm

Dougall wrote:
Thu Oct 01, 2020 4:07 pm
Clearly it links them to the UK, but how does it link them to BFC?
The name of the company is related to Burnley FC, surely? Could be a massive coincidence I suppose.

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Re: ALK Capital...

Post by BenWickes » Thu Oct 01, 2020 4:16 pm

Goobs wrote:
Thu Oct 01, 2020 4:08 pm
This is even more fun than watching Sky Scanner (or whatever it's called) for planes 🙂
This one?

https://www.flightradar24.com/IMX358/2444849b
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Re: ALK Capital...

Post by clansman » Thu Oct 01, 2020 4:17 pm

Seems close now
Calder ale to be the vehicle for the purchase it would seem.

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Re: ALK Capital...

Post by Gordaleman » Thu Oct 01, 2020 4:21 pm

If it's linked to the BFC takeover, then it's a strange name to choose. Calder Vale is in the west of the Forest of Bowland and the only local connection I know of is the Calder River.

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Re: ALK Capital...

Post by claretgilly » Thu Oct 01, 2020 4:24 pm

onewillieirvine wrote:
Thu Oct 01, 2020 4:06 pm
Claretgilly - Would you have any idea how long companies would normally be registered, before any takeover occurs please?
Hard to say really, it's just one of many things that the lawyers they're paying handsomely will have on their 'Steps Plan'. Registering a company is pretty straightforward, and also easy to deregister if things don't work out. But obviously a step in the right direction.

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Re: ALK Capital...

Post by Grumps » Thu Oct 01, 2020 4:25 pm

Gordaleman wrote:
Thu Oct 01, 2020 4:21 pm
If it's linked to the BFC takeover, then it's a strange name to choose. Calder Vale is in the west of the Forest of Bowland and the only local connection I know of is the Calder River.
I thought it featured in the clubs history

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Re: ALK Capital...

Post by 775claret » Thu Oct 01, 2020 4:26 pm

Gordaleman wrote:
Thu Oct 01, 2020 4:21 pm
If it's linked to the BFC takeover, then it's a strange name to choose. Calder Vale is in the west of the Forest of Bowland and the only local connection I know of is the Calder River.
Isn't Calder Vale the original location of Burnley FC's ground before Turf Moor?

Somewhere near where the college is now?

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Re: ALK Capital...

Post by HahaYeah » Thu Oct 01, 2020 4:26 pm

Old thread re Calder Vale.

viewtopic.php?t=44621

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Re: ALK Capital...

Post by Gordaleman » Thu Oct 01, 2020 4:27 pm

Grumps wrote:
Thu Oct 01, 2020 4:25 pm
I thought it featured in the clubs history
In what way? The old ground? Maybe, but why would a forward looking company look so far back?
Last edited by Gordaleman on Thu Oct 01, 2020 4:28 pm, edited 1 time in total.

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Re: ALK Capital...

Post by Grumps » Thu Oct 01, 2020 4:27 pm

Gordaleman wrote:
Thu Oct 01, 2020 4:27 pm
In what way?
Our first ground

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Re: ALK Capital...

Post by BenWickes » Thu Oct 01, 2020 4:28 pm

Gordaleman wrote:
Thu Oct 01, 2020 4:21 pm
If it's linked to the BFC takeover, then it's a strange name to choose. Calder Vale is in the west of the Forest of Bowland and the only local connection I know of is the Calder River.
Wouldn't read too much into that. Calder International Holdings is based in Chester. May be the only name available.

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Re: ALK Capital...

Post by Gordaleman » Thu Oct 01, 2020 4:28 pm

Grumps wrote:
Thu Oct 01, 2020 4:27 pm
Our first ground
See my edit above.

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Re: ALK Capital...

Post by onewillieirvine » Thu Oct 01, 2020 4:30 pm

Thanks claretgilly, that gives me a better understanding of the process. Let's hope all goes well !

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Re: ALK Capital...

Post by Grumps » Thu Oct 01, 2020 4:32 pm

Gordaleman wrote:
Thu Oct 01, 2020 4:28 pm
See my edit above.
Just admit you didn't know, instead of editing your post after a quick Google search.

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Re: ALK Capital...

Post by Claretnick » Thu Oct 01, 2020 4:32 pm

Gordaleman wrote:
Thu Oct 01, 2020 4:21 pm
If it's linked to the BFC takeover, then it's a strange name to choose. Calder Vale is in the west of the Forest of Bowland and the only local connection I know of is the Calder River.
Burnley RFUC used to be known as Calder Vale RUFC and Burnley FC started out as a rugby club known as Burnley Rovers!!!. The football club started playing at Calder Vale until moving too Turf Moor.
I know it's a different sport but that's the only connection I could think of.

I type too slow... :)
https://lancashirerugby.co.uk/news/1517 ... ry-service
https://thebeautifulhistory.wordpress.c ... s/burnley/

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Re: ALK Capital...

Post by Gordaleman » Thu Oct 01, 2020 4:34 pm

Claretnick wrote:
Thu Oct 01, 2020 4:32 pm
Burnley RFUC used to be known as Calder Vale RUFC and Burnley FC started out as a rugby club known as Burnley Rovers!!!. The football club started playing at Calder Vale until moving too Turf Moor.
I know it's a different sport but that's the only connection I could think of.

I type too slow... :)
https://lancashirerugby.co.uk/news/1517 ... ry-service
https://thebeautifulhistory.wordpress.c ... s/burnley/
Yes, I know that but it's still a strange name for a modern progressive company to use.

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Re: ALK Capital...

Post by Gordaleman » Thu Oct 01, 2020 4:36 pm

Grumps wrote:
Thu Oct 01, 2020 4:32 pm
Just admit you didn't know, instead of editing your post after a quick Google search.
Wrong. I did know but thought it irrelevant. Maybe you do things like that and that's why you think others do?

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Re: ALK Capital...

Post by martin_p » Thu Oct 01, 2020 4:36 pm

Gordaleman wrote:
Thu Oct 01, 2020 4:34 pm
Yes, I know that but it's still a strange name for a modern progressive company to use.
Why? Are you expecting names like they come up with on The Apprentice?

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Re: ALK Capital...

Post by BenWickes » Thu Oct 01, 2020 4:36 pm

Gordaleman wrote:
Thu Oct 01, 2020 4:34 pm
Yes, I know that but it's still a strange name for a modern progressive company to use.
Or. It's a nod to the past and recognising it with open arms while being progressive.

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