ALK Capital or Farnell/Elkashashy takeover

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arise_sir_charge
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Re: ALK Capital...

Post by arise_sir_charge » Thu Oct 29, 2020 8:34 am

claretonthecoast1882 wrote:
Thu Oct 29, 2020 8:01 am
Amazing how some people get seduced my money.

Mere mention of investment makes some all giddy, they have probably even got their January transfer targets lined up in their heads as the club/town emerges as a northern powerhouse.

Be really good if those who are seduced by this and want the club to move to the next level could answer some very basic questions, then those of us who aren't seduced by it could maybe come round to their way of thinking.

What is in it for the investor and what is the primary aim for someone making an investment in anything
With our current income and wage bill how do we fund this next level move while at the same time paying out to investors
When the **** hits the fan who then funds the existing levels of expense we have

Those are just 3 questions, be interesting to read the answers
These questions get answered time and time again yet you simply choose to ignore the answers.

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Re: ALK Capital...

Post by claretonthecoast1882 » Thu Oct 29, 2020 8:36 am

arise_sir_charge wrote:
Thu Oct 29, 2020 8:34 am
These questions get answered time and time again yet you simply choose to ignore the answers.
Just copy and paste the answers then

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Re: ALK Capital...

Post by DCWat » Thu Oct 29, 2020 8:37 am

claretonthecoast1882 wrote:
Thu Oct 29, 2020 8:01 am
Amazing how some people get seduced my money.

Mere mention of investment makes some all giddy, they have probably even got their January transfer targets lined up in their heads as the club/town emerges as a northern powerhouse.

Be really good if those who are seduced by this and want the club to move to the next level could answer some very basic questions, then those of us who aren't seduced by it could maybe come round to their way of thinking.

What is in it for the investor and what is the primary aim for someone making an investment in anything
With our current income and wage bill how do we fund this next level move while at the same time paying out to investors
When the **** hits the fan who then funds the existing levels of expense we have

Those are just 3 questions, be interesting to read the answers
Has anyone been seduced by money?

I think it’s fair to say that there are plenty that would like to see more investment in the club, but I’ve seen more evidence of caution than seduction.

The Egyptian ‘money’ and the association with a lawyer, whose previous involvement with football clubs appears worrying, seems to be doing anything but seducing people.

The limited information regarding ALK at least appeared to have some logic behind it (a wider investment strategy) though it’s way beyond my understanding of such matters to understand if this would be a good thing or a bad thing for BFC. At least this appeared to suggest a reason for investment.

I’m one that would like to see more investment in the club, we need it to have a chance of staying at the top table for a longer period.

The position as I see it is that we have to trust that Garlick, and the others on the board, are doing their utmost to ensure that any deal is right for Burnley.

I’m not sure that taking a no investment strategy would be helpful in the long term either.

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Re: ALK Capital...

Post by joey13 » Thu Oct 29, 2020 8:37 am

The fact KRBFC and Leisure are in agreement is nearly as much of a worry as is a deal with these Charlatans :shock:

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Re: ALK Capital...

Post by warksclaret » Thu Oct 29, 2020 8:50 am

Can anyone remember the guy (going back around 25-30years) who tried to buy Man Utd, and nearly succeeded from memory. He was nothing but an enthusiast

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Re: ALK Capital...

Post by rdp2eps » Thu Oct 29, 2020 8:51 am

Michael Knighton

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Re: ALK Capital...

Post by claretonthecoast1882 » Thu Oct 29, 2020 8:51 am

warksclaret wrote:
Thu Oct 29, 2020 8:50 am
Can anyone remember the guy (going back around 25-30years) who tried to buy Man Utd, and nearly succeeded from memory. He was nothing but an enthusiast
Michael Knighton ?

Remember him parading himself in front of the Stretford end with a ball at half time

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Re: ALK Capital...

Post by Sutton-Claret » Thu Oct 29, 2020 8:58 am

rdp2eps wrote:
Thu Oct 29, 2020 8:51 am
Michael Knighton
Wonder if he still drives that talking car......
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Re: ALK Capital...

Post by CharlieinNewMexico » Thu Oct 29, 2020 8:59 am

joey13 wrote:
Thu Oct 29, 2020 8:37 am
The fact KRBFC and Leisure are in agreement is nearly as much of a worry as is a deal with these Charlatans :shock:
Some Friendly stuff going on ...,
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Re: ALK Capital...

Post by Leisure » Thu Oct 29, 2020 9:16 am

joey13 wrote:
Thu Oct 29, 2020 8:25 am
Why would I waste my time ,you see what you want to see and ignore facts
But you can't /haven't given me any FACTS !

And just to remind you what you said --

joey13 wrote: ↑Wed Oct 28, 2020 4:18 pm

Because they are only interested in what’s best for themselves -

Facts/evidence, please.
Last edited by Leisure on Thu Oct 29, 2020 10:24 am, edited 1 time in total.

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Re: ALK Capital...

Post by rdp2eps » Thu Oct 29, 2020 9:21 am

Sutton-Claret wrote:
Thu Oct 29, 2020 8:58 am
Wonder if he still drives that talking car......
Given what happened at Carlisle I think KIT might have done a better job 😉

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Re: ALK Capital...

Post by ashtonlongsider » Thu Oct 29, 2020 9:26 am

I only heard about this last night and I'm still trying to get my head around it. I must be honest, it fills me with consternation. Think i'm quite conservative regards to my club. We have a long and illustrious history, and in an ideal world would sooner we have someone with local knowledge and the financial clout to become the benefactor. Is that likely? I doubt it, especially in the present climate. That in the main leaves us open to foreign investment and we are at the mercy of MG and co to make the right call to protect our great club and help move us forward.

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Re: ALK Capital...

Post by NewClaret » Thu Oct 29, 2020 9:36 am

No update by the club yet? Feel that’s a bit shoddy!

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Re: ALK Capital...

Post by TheFamilyCat » Thu Oct 29, 2020 9:37 am

CharlieinNewMexico wrote:
Thu Oct 29, 2020 8:59 am
Some Friendly stuff going on ...,
👏👏👏👏👏👏👏👏👏👏👏

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Re: ALK Capital...

Post by clarethomer » Thu Oct 29, 2020 9:38 am

There is one thing guaranteed by what we are now hearing.

Change is coming!

I don't for one minute think that all change is good but I do think it is necessary. I really think that even if we were in the championship, we would struggle without further investment and if the board are either getting to an age where they don't want to continue pushing forward because they believe their tenure has been successful and now is a good time to allow someone else to try and move us forward then this is what will happen.

There are too many examples of bad ownership and I too worry about the future ownership and whether we are going to be more Blackburn than Leicester for example but the truth is as we know - having harmony in the club is probably far more important than having someone with loads of money who isn't for taking an approach that allows this harmony to exist.

MG and SD are clearly not quite on the same page with transfers but SD appears to have had a lot of sway in our club and for me losing him could be far greater an issue than a change of board. I would assume if SD is sticking around post takeover because he will get funds and the choice of where those funds are used, then this is a good starting point.

Too much speculation and worryingly some of the individuals being mentioned should rightfully make us be cautious to just take anyone's money, however I think we all have to accept that there is no money without new investment. I for one want to see more investment in the team but as one person put on here - I'm not seduced by the money. I would just like us to be able to start to lower the age of the squad a little and give SD the opportunity to show us what he can do with a slightly less strict regime controlling the purse strings.
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Re: ALK Capital...

Post by ArmchairDetective » Thu Oct 29, 2020 9:45 am

My initial response to this was anxiety. Maybe that was fueled by the negative comments associated with Farnell that immediately started to appear on here, on social media and in The Athletic's article. Maybe also it made me slightly aware of a prejudice I might harbour about whether I'd feel more comfortable with investment from US rather than Egyptian backers - I wasn't really aware of this before last night but maybe subconsciously it was there.

Right now we don't know what Farnell's involvement will be. He seems to have been around a lot of messy situations previously, though he could just have been employed within those situations rather than having a negative causal impact. He's also represented Martinez and CR7 who seem to have turned out okay. Farnell could just be a middle man in all of this.

What I would say is that danieljwaterhouse has been pretty spot on with most (if not all) of what's been posted so far unless I've missed something. I don't know danieljwaterhouse, but their posts so far and even as of last night appear to be pretty positive about the Egyptian backer who may be able to source more finance than we are presuming.

Of course the negative response to Farnell is there for a reason. But personally I feel as though we need more info about it all before we chase them out of town holding torches and pitchforks.
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Re: ALK Capital...

Post by Grumps » Thu Oct 29, 2020 9:51 am

NewClaret wrote:
Thu Oct 29, 2020 9:36 am
No update by the club yet? Feel that’s a bit shoddy!
Not sure, legally, they can say anything

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Re: ALK Capital...

Post by Wile E Coyote » Thu Oct 29, 2020 10:02 am

most feel its good business sense to keep things confidential and in house regarding issues like this, but I will never be convinced its in a clubs best interest not to air these things with supporters. just a simple monthly update would suffice, but no, we just have to rely on tit bits from rumour mongers. very poor in my opinion. said it before, but its only "our club" when it suits.

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Re: ALK Capital...

Post by expoultryboy » Thu Oct 29, 2020 10:10 am

Don't normally listen to talk sport , but it could be interesting to hear what Simon Jordan has to say this morning

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Re: ALK Capital...

Post by Chester Perry » Thu Oct 29, 2020 10:17 am

just to remind everyone - earlier in the thread it was the Egyptian bid that was spoken of as being involved in investment in the local area by Ben. that was superimposed onto the ALK bid because that was the only one being talked about at the time. some of us even postulated the theory that the Egyptians may have been fronted by American's - which now looks very unlikely - and somehow people allied it to the ALK bid as a result. All that now seems slight silly. There is a very clear distinction between the two bids (and if you go back to the "Investor" thread http://www.uptheclarets.com/messageboar ... =2&t=48059 it has always been two distinct bidders (apparently the 2 we now know of).

While additional local investment is possible with the ALK bid - I do not recall any direct reference of it from their bid or from Ben/Daniel in relation to their bid.

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Re: ALK Capital...

Post by jtv » Thu Oct 29, 2020 10:24 am

Wile E Coyote wrote:
Thu Oct 29, 2020 10:02 am
most feel its good business sense to keep things confidential and in house regarding issues like this, but I will never be convinced its in a clubs best interest not to air these things with supporters. just a simple monthly update would suffice, but no, we just have to rely on tit bits from rumour mongers. very poor in my opinion. said it before, but its only "our club" when it suits.
If BFC has signed NDAs with the two groups there isn't much they can say, either way, at this point in time.
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Re: ALK Capital...

Post by Swizzlestick » Thu Oct 29, 2020 10:35 am

CharlieinNewMexico wrote:
Thu Oct 29, 2020 8:59 am
Some Friendly stuff going on ...,
Too many people Tellin’ Stories
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Re: ALK Capital...

Post by Nonayforever » Thu Oct 29, 2020 10:40 am

I haven't read all the posts but my take on the present situation is that the board is getting impatient with ALK and started talks with the chancers to hopefully speed things up.
Chris Farnell can smell a quick buck coming his way by advising another dodgy character, who maybe happens to know other people with access to large loans, how to take control of the club, sell a couple of players and move some assets around which generates quick cash and then they disappear leaving the "owners" to foot the bill.
The people who actually stump up the cash / loans will have been spun an Egyptian yarn about owning a piece of British history but they may be two or three deals down the line and don't get the full facts.
The fact that so much has been made public in the last 2 or 3 days after a year of hush hush indicates that MG and the board are running out of cash to run the club on a day to day basis.

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Re: ALK Capital...

Post by GodIsADeeJay81 » Thu Oct 29, 2020 10:56 am

Nonayforever wrote:
Thu Oct 29, 2020 10:40 am
I haven't read all the posts but my take on the present situation is that the board is getting impatient with ALK and started talks with the chancers to hopefully speed things up.
Chris Farnell can smell a quick buck coming his way by advising another dodgy character, who maybe happens to know other people with access to large loans, how to take control of the club, sell a couple of players and move some assets around which generates quick cash and then they disappear leaving the "owners" to foot the bill.
The people who actually stump up the cash / loans will have been spun an Egyptian yarn about owning a piece of British history but they may be two or three deals down the line and don't get the full facts.
The fact that so much has been made public in the last 2 or 3 days after a year of hush hush indicates that MG and the board are running out of cash to run the club on a day to day basis.
How have you reached the conclusion that they current owners are running out of cash for day to day running from that?

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Re: ALK Capital...

Post by GodIsADeeJay81 » Thu Oct 29, 2020 10:57 am

NewClaret wrote:
Thu Oct 29, 2020 9:36 am
No update by the club yet? Feel that’s a bit shoddy!
New to the business world aren't you?
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Re: ALK Capital...

Post by Sproggy » Thu Oct 29, 2020 11:07 am

Nonayforever wrote:
Thu Oct 29, 2020 10:40 am
I haven't read all the posts but my take on the present situation is that the board is getting impatient with ALK and started talks with the chancers to hopefully speed things up.

The fact that so much has been made public in the last 2 or 3 days after a year of hush hush indicates that MG and the board are running out of cash to run the club on a day to day basis.
If the reports are right, they started taking to them a year ago.

I think it's more an indication that Magic Mike wants to make as much cash as he can as soon as he can amidst the falling value of the club.

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Re: ALK Capital...

Post by hawxi » Thu Oct 29, 2020 11:15 am

Nice to slip a Charlatans reference in..I hope that isnt foresight related to the prospective buyers..
Swizzlestick wrote:
Thu Oct 29, 2020 10:35 am
Too many people Tellin’ Stories

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Re: ALK Capital...

Post by Nonayforever » Thu Oct 29, 2020 11:16 am

GodIsADeeJay81 wrote:
Thu Oct 29, 2020 10:56 am
How have you reached the conclusion that they current owners are running out of cash for day to day running from that?
By the very fact that they now appear, from recent reports, to be pushing to get a deal done. If there was no pressure ( ie they have cash in the bank and are making a day to day profit ) to conclude a deal, the board would hang fire until corvid had settled down, the fans return to the Turf, and haggle for a better price.

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Re: ALK Capital...

Post by Paul Waine » Thu Oct 29, 2020 11:18 am

NewClaret wrote:
Thu Oct 29, 2020 9:36 am
No update by the club yet? Feel that’s a bit shoddy!
Was it only last week that the CEO told us there were discussions in progress?

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Re: ALK Capital...

Post by NewClaret » Thu Oct 29, 2020 11:19 am

Grumps wrote:
Thu Oct 29, 2020 9:51 am
Not sure, legally, they can say anything
I think if they’ve signed a SPA they can - it’s legally binding. If not, why not just say “BFC note recent media speculation suggesting they have agreed the sale of the club to another party. This is incorrect. The club remain in talks with a number of potential investors and will provide an update on these discussions when they conclude”.

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Re: ALK Capital...

Post by NewClaret » Thu Oct 29, 2020 11:19 am

Paul Waine wrote:
Thu Oct 29, 2020 11:18 am
Was it only last week that the CEO told us there were discussions in progress?
True but reports are now that they’ve sold!

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Re: ALK Capital...

Post by NewClaret » Thu Oct 29, 2020 11:20 am

GodIsADeeJay81 wrote:
Thu Oct 29, 2020 10:57 am
New to the business world aren't you?
In what sense? Reports are that an SPA has been signed.

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Re: ALK Capital...

Post by arise_sir_charge » Thu Oct 29, 2020 11:21 am

claretonthecoast1882 wrote:
Thu Oct 29, 2020 8:36 am
Just copy and paste the answers then
Why should I? You will just ignore them all again in any event.

You have a position on investment, one that seems to completely ignore the fact that the man you trust, the local boy done good, actually wants to sell his shares....lot's of people seem to struggle with this concept on here. We can't have Mike Garlick in charge as the majority shareholder if he decides he doesn't want to be in charge as the majority shareholder. We have simply got to trust that he does the right thing.

As for your dreamt up position of "people are seduced by money" you will see, if you bother to read and absorb the posts of other people on this thread, the vast majority, barring maybe an odd one or two, are expressing caution.

As I said before, despite what Charlton fans may think or say, let's wait for some facts before we start getting carried away be it positively or negatively. It's hard to form any sort of opinion with next to no information of any substance.

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Re: ALK Capital...

Post by Paul Waine » Thu Oct 29, 2020 11:23 am

Nonayforever wrote:
Thu Oct 29, 2020 11:16 am
By the very fact that they now appear, from recent reports, to be pushing to get a deal done. If there was no pressure ( ie they have cash in the bank and are making a day to day profit ) to conclude a deal, the board would hang fire until corvid had settled down, the fans return to the Turf, and haggle for a better price.
Interesting. Some of us would have thought the club was losing money because Mike Garlick told us all in April that covid-19 would cost the club £50m.

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Re: ALK Capital...

Post by GodIsADeeJay81 » Thu Oct 29, 2020 11:28 am

Nonayforever wrote:
Thu Oct 29, 2020 11:16 am
By the very fact that they now appear, from recent reports, to be pushing to get a deal done. If there was no pressure ( ie they have cash in the bank and are making a day to day profit ) to conclude a deal, the board would hang fire until corvid had settled down, the fans return to the Turf, and haggle for a better price.
Bizarre conclusion.

Maybe they just don't want it dragging out forever, because it hinders what the club will do if its negotiating for another 6months

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Re: ALK Capital...

Post by TVC15 » Thu Oct 29, 2020 11:30 am

Paul Waine wrote:
Thu Oct 29, 2020 11:23 am
Interesting. Some of us would have thought the club was losing money because Mike Garlick told us all in April that covid-19 would cost the club £50m.
No he didn’t Paul.
He said the club could lose £50m and was referring to if the 19/20 season did not restart and the 20/21 season got significantly delayed or didn’t start.

Oh and btw I’d be amazed if we not are losing money - I can’t see anything but the club posting a pretty significant cost in the July 20 accounts....as most clubs will do.

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Re: ALK Capital...

Post by claretonthecoast1882 » Thu Oct 29, 2020 11:31 am

arise_sir_charge wrote:
Thu Oct 29, 2020 11:21 am
Why should I? You will just ignore them all again in any event.

You have a position on investment, one that seems to completely ignore the fact that the man you trust, the local boy done good, actually wants to sell his shares....lot's of people seem to struggle with this concept on here. We can't have Mike Garlick in charge as the majority shareholder if he decides he doesn't want to be in charge as the majority shareholder. We have simply got to trust that he does the right thing.

As for your dreamt up position of "people are seduced by money" you will see, if you bother to read and absorb the posts of other people on this thread, the vast majority, barring maybe an odd one or two, are expressing caution.

As I said before, despite what Charlton fans may think or say, let's wait for some facts before we start getting carried away be it positively or negatively. It's hard to form any sort of opinion with next to no information of any substance.
I would have read your answers with interest but nevermind.

As for my position on investment rather than you guess what it is and be wrong I will explain it for you.

I have no issue at all with investment in the club, the club needs it. I don't have an issue with investors even taking a dividend on profits within reason (something our current board have been mocked for by some on here) my issue comes from a lack of transparency and identity.

When Barry Kilby came on board, we knew who it was, when Garlick came on board we knew who it was, when John B came on board we knew who it was, my issue is when people are the face of a bid who clearly don't have the kind of funds being talked about but there are others hiding in the background propping up the bid.

Off the top of my head I struggle to think of a success story when these groups of investors are put together and names and worth aren't known.

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Re: ALK Capital...

Post by Paul Waine » Thu Oct 29, 2020 11:32 am

NewClaret wrote:
Thu Oct 29, 2020 11:19 am
True but reports are now that they’ve sold!
There are reports in the media that a Sale and Purchase Agreement has been signed, but who has released this info to the media? I guess we can assume Farnell, but there's no direct quote (that I'm aware of) that says "Chris Farnell told the media that xxxxxxxx."

If a SPA had been signed and the sale of Burnley FC to new owners has been completed there would be a press release that quotes both sides of the deal. A "public announcement" clause is typically included in the SPA (in my experience) - and the words used to announce and the timing of the announcement are agreed by both parties.

UTC

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Re: ALK Capital...

Post by Paul Waine » Thu Oct 29, 2020 11:37 am

TVC15 wrote:
Thu Oct 29, 2020 11:30 am
No he didn’t Paul.
He said the club could lose £50m and was referring to if the 19/20 season did not restart and the 20/21 season got significantly delayed or didn’t start.

Oh and btw I’d be amazed if we not are losing money - I can’t see anything but the club posting a pretty significant cost in the July 20 accounts....as most clubs will do.
OK, I'll grant you my "would" should have been a "could."

Will you allow me to read your final statement as "Oh and btw I’d be amazed if we are not losing money - I can’t see anything but the club posting a pretty significant loss in the July 20 accounts....as most clubs will do.

I've underlined my small amendments. ;)

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Re: ALK Capital...

Post by KRBFC » Thu Oct 29, 2020 11:37 am

claretonthecoast1882 wrote:
Thu Oct 29, 2020 8:01 am
Amazing how some people get seduced my money.

Mere mention of investment makes some all giddy, they have probably even got their January transfer targets lined up in their heads as the club/town emerges as a northern powerhouse.

Be really good if those who are seduced by this and want the club to move to the next level could answer some very basic questions, then those of us who aren't seduced by it could maybe come round to their way of thinking.

What is in it for the investor and what is the primary aim for someone making an investment in anything
With our current income and wage bill how do we fund this next level move while at the same time paying out to investors
When the **** hits the fan who then funds the existing levels of expense we have

Those are just 3 questions, be interesting to read the answers
Why are you criticising the fans and not Garlick? Ya know Mike, the man who has the power and is willing to sell....

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Re: ALK Capital...

Post by Paul Waine » Thu Oct 29, 2020 11:40 am

KRBFC wrote:
Thu Oct 29, 2020 11:37 am
Why are you criticising the fans and not Garlick? Ya know Mike, the man who has the power and is willing to sell....
Do you not think it reasonable that Mike Garlick sells the club?

EDIT - insert "and the other directors/major shareholders."

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Re: ALK Capital...

Post by arise_sir_charge » Thu Oct 29, 2020 11:43 am

claretonthecoast1882 wrote:
Thu Oct 29, 2020 11:31 am
I would have read your answers with interest but nevermind.

As for my position on investment rather than you guess what it is and be wrong I will explain it for you.

I have no issue at all with investment in the club, the club needs it. I don't have an issue with investors even taking a dividend on profits within reason (something our current board have been mocked for by some on here) my issue comes from a lack of transparency and identity.

When Barry Kilby came on board, we knew who it was, when Garlick came on board we knew who it was, when John B came on board we knew who it was, my issue is when people are the face of a bid who clearly don't have the kind of funds being talked about but there are others hiding in the background propping up the bid.

Off the top of my head I struggle to think of a success story when these groups of investors are put together and names and worth aren't known.
Did you honestly know who Kilby, Garlick and John B were prior to them being announced has having come on board? I genuinely didn't and I suspect most people on this board didn't. I was young and at college when Kilby came in so maybe he was more well known locally than I would have known but I had no idea of the other two.

Being known doesn't equate to being safe.....Karl Oyston anybody?

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Re: ALK Capital...

Post by dsr » Thu Oct 29, 2020 11:43 am

I would have thought the club is covering operating costs OK. Over the last few years we have been making about £30m profit per year before taking into account sales and purchases of players. We are losing matchday income and some commercial income, but the TV money is substantially intact and wages shouldn't have gone up as we have got a couple fewer players. Hence we should be ticking over, financially.

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Re: ALK Capital...

Post by KRBFC » Thu Oct 29, 2020 11:43 am

joey13 wrote:
Thu Oct 29, 2020 8:37 am
The fact KRBFC and Leisure are in agreement is nearly as much of a worry as is a deal with these Charlatans :shock:
Hard for me to be in agreement with anyone when I don’t really have an opinion on the takeover atm, Id like more facts to form an opinion but until then I just don’t know where I stand.
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Re: ALK Capital...

Post by TVC15 » Thu Oct 29, 2020 11:44 am

Paul Waine wrote:
Thu Oct 29, 2020 11:37 am
OK, I'll grant you my "would" should have been a "could."

Will you allow me to read your final statement as "Oh and btw I’d be amazed if we are not losing money - I can’t see anything but the club posting a pretty significant loss in the July 20 accounts....as most clubs will do.

I've underlined my small amendments. ;)
Yep sorry about the typos - rushing around.
But yes we and many other clubs will be posting significant losses this year and probably next too.

Point about the £50m was what he said could happen was averted to a large degree by the restart of football. Though for the likes of Spurs, Arsenal and United £50m will not be a million miles away from what they have already lost each since March in match day revenues....ours is of course a fraction of this.
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Re: ALK Capital...

Post by Paul Waine » Thu Oct 29, 2020 11:48 am

dsr wrote:
Thu Oct 29, 2020 11:43 am
I would have thought the club is covering operating costs OK. Over the last few years we have been making about £30m profit per year before taking into account sales and purchases of players. We are losing matchday income and some commercial income, but the TV money is substantially intact and wages shouldn't have gone up as we have got a couple fewer players. Hence we should be ticking over, financially.
Wow, careful there, dsr. £30 million profit will become the new £40 million cash....

Apart from player "sales and purchases" - but, we've made a number of purchases and the amortisation is already "hard wired" into the accounts - and the money has got to be paid to the clubs we bought them from.

Then there's the rebates to the tv companies...

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Re: ALK Capital...

Post by arise_sir_charge » Thu Oct 29, 2020 11:48 am

Paul Waine wrote:
Thu Oct 29, 2020 11:40 am
Do you not think it reasonable that Mike Garlick sells the club?

EDIT - insert "and the other directors/major shareholders."
It is entirely up to him (them) isn't it.

What I think surprises me most is that the naysayers are more than happy to trust him (them) to run it properly but not happy to trust him (them) to sell it properly.

It just suggests they are against any form of investment (unless the lad is a multi billionaire born up Gannow Top) rather than just the investments we have been linked with.

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Re: ALK Capital...

Post by TVC15 » Thu Oct 29, 2020 11:51 am

dsr wrote:
Thu Oct 29, 2020 11:43 am
I would have thought the club is covering operating costs OK. Over the last few years we have been making about £30m profit per year before taking into account sales and purchases of players. We are losing matchday income and some commercial income, but the TV money is substantially intact and wages shouldn't have gone up as we have got a couple fewer players. Hence we should be ticking over, financially.
That’s not correct - we only ever made £30m BECAUSE of the sale of players. Check out the last accounts and we virtually broke even.
Fast forward 13 months to the July 20 year end figures and it will be similar in terms of net spend impact of player sales and purchases and then factor in a wage bill of around £95m (because of the 13 month period) and the loss of match day revenue and TV rebate and it could be anywhere between £20m and £30m losses (or possibly more)
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Re: ALK Capital...

Post by Conroy92 » Thu Oct 29, 2020 11:52 am

As someone who does not really get how these things work, is it normal for the lawyer to be made a director of the purchasing company? People suggesting further up Farnell is involved in Staunch Partners as a director? Does this mean he will have an active part in running the club?
More information required on Farnell's involvement in all this.

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Re: ALK Capital...

Post by KRBFC » Thu Oct 29, 2020 11:54 am

Paul Waine wrote:
Thu Oct 29, 2020 11:40 am
Do you not think it reasonable that Mike Garlick sells the club?

EDIT - insert "and the other directors/major shareholders."
I think Mike Garlick can do whatever the hell he wants, it just seems strange for this poster to come criticising the fans for being “seduced by money” when if anyone’s been seduced by money it’s Garlick and co.

I don’t even know why I ever respond to ClaretontheCoast, he’s clearly an angry old man with nothing better to do than sit on here moaning and trolling.

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