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Post by 1978sussex on Jul 31, 2020 7:04:36 GMT
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Post by ExeterAddick on Jul 31, 2020 7:58:44 GMT
My prediction is that Bowyer's departure will be announced on Tuesday.
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Post by earlpurple on Jul 31, 2020 9:05:22 GMT
My guess is the Paul Elliott himself is not the problem, the problem is the real source of the funds, and the EFL want to know where it comes from and that it is genuine money that can be used.
Because much of his "consortium" is either a mystery, or hasn't been fully put together yet, he is finding it hard to provide this information.
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Post by kings hill addick on Jul 31, 2020 9:40:35 GMT
I wonder how Rich Cawley got ‘Nimer’s line’? Still, the quote above is exactly what I’d expect. I’d have been very surprised had either Duchâtelet or Nimer been involved in a meeting with the EFL. Nimer has probably washed his hands of the club, hence the need for Elliott’s consortium to provide short-term funding, perhaps via a loan secured against receivables, while Duchâtelet probably can’t doing anything unless and until the terms of his sale and/or loan agreement have been breached. We’re left wondering what the Elliott consortium is aiming to do and whether their bid is approved by the EFL. If it’s not then Nimer will, presumably, need to re-engage, even if in the first instance all that means is asking the CAFC Board to appoint an administrator. At that point I assume Duchâtelet would get his lawyers involved. What the administrator will then need to do is convince the EFL that the club is capable of fulfilling its fixtures and that a buyer will be found who can fund the club going forward. If those two things apply, I’d be surprised if the EFL decided to expel the club from the League. The problem at Bury, as I understand it, was that there was no credible way forward. As I noted on the Varney thread, the buyer will need to come to an accommodation with Duchâtelet and that’s likely to be the biggest hurdle. A rental agreement might be a way forward. Fingers crossed. If a rental agreement was put in place which offered an attractive yield, with the rental income having first claim on season ticket monies, say, then that rental income stream could be securitised and sold to investors, including fans. Duchatelet would get his money back and fans could help to save the club while earning a better yield than they're likely to get elsewhere. The buyer of the club gets it for a £1, but pays, say, £2m p.a. to play at the Valley and use Sparrows Lane. Duchatelet is off the scene. If you believe that the Trust have the expertise to think about something like this seriouslyred perhaps you could suggest it to them. I like the idea of the Rental Scheme but this has to be acceptable to a buyer of the club. I’m not sure that the potential buyers have any intention of paying anything at all to acquire the club. £2m a year is a lot of Money, for example, when season ticket revenues (after VAT) are less that £2m. I imagine that RD would be willing to take a long term view on in but we all need to remember that it wasn’t that long ago that the club ‘sold’ us shares in the club, only to take them back a few years later when they’d spent our money and a lot more besides. This, kind of, reminds me of the Portsmouth ‘deals’ where they ‘bullied’ the creditors into taking 20p in the £ (from memory) which wrote of 80% of the debt. Then they came back a year or so later and demanded to reduce the debt to 20% (of the 20%) and the creditors couldn’t, really, do anything but say yes. If RD (or an investment scheme) waives (or spends) £50m and then in two years the owners of the club say they can’t afford to pay £2m a year, and offer a max of £100k, there will be no way to get back to the £50m debt. For this reason I, if I were advising him, would recommend to RD that he doesn’t waive or reduce the £50m for some future ‘promise’. He should (from a business perspective) insist on getting the full £50m right up until he gets offered, and banks, an acceptable one off payment paid upfront. Anything he offers before then is just giving the new owners a better position to start negotiating from. |
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Post by earlpurple on Jul 31, 2020 10:01:24 GMT
A part-own, part-rent scheme, with the rights to buy.
If we are playing in a lower division so we have lower revenue we pay rent only.
If we reach the promised land or get a big investor who wants to buy up some of the land asset he has the right do so. Either all of it, or a part, which would reduce the rent going forward to whatever proportion we do not own.
Similar to how some mortgages work.
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Post by bexleyboy on Jul 31, 2020 10:18:09 GMT
My guess is the Paul Elliott himself is not the problem, the problem is the real source of the funds, and the EFL want to know where it comes from and that it is genuine money that can be used. Because much of his "consortium" is either a mystery, or hasn't been fully put together yet, he is finding it hard to provide this information. Proof of funds have been proved to EFL |
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Post by earlpurple on Jul 31, 2020 10:23:13 GMT
My guess is the Paul Elliott himself is not the problem, the problem is the real source of the funds, and the EFL want to know where it comes from and that it is genuine money that can be used. Because much of his "consortium" is either a mystery, or hasn't been fully put together yet, he is finding it hard to provide this information. Proof of funds have been proved to EFL
And accepted? Have I missed something? Is it good news? Is the embargo lifted?
Maybe we'll get even better news then and find that Sheff Wed have been given a points penalty and we're unrelegated.
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Post by bexleyboy on Jul 31, 2020 10:24:57 GMT
My prediction is that Bowyer's departure will be announced on Tuesday. If Bowyer was going he would have gone by now and not having meetings about player recruitment etc etc .... Bowyer will end up another Powell that’s why he will stay does not want failure last thing on his CV .... Plus there no where for him to go .so if he did go he would disappear out of football |
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Post by Mundell on Jul 31, 2020 10:28:01 GMT
My guess is the Paul Elliott himself is not the problem, the problem is the real source of the funds, and the EFL want to know where it comes from and that it is genuine money that can be used. Because much of his "consortium" is either a mystery, or hasn't been fully put together yet, he is finding it hard to provide this information. Proof of funds have been proved to EFL It seems this was tweeted yesterday by the infamous Alan Nixon. I was surprised and a bit confused, not least since this news hasn’t surfaced anywhere else, and I wondered if he’d got confused and has his wires crossed? If he’s right, I assume it must apply to the Elliott consortium in which case I’d expect us to get confirmation very soon. I decided not to hold my breath though. |
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Post by earlpurple on Jul 31, 2020 10:28:52 GMT
My prediction is that Bowyer's departure will be announced on Tuesday. If Bowyer was going he would have gone by now and not having meetings about player recruitment etc etc .... Bowyer will end up another Powell that’s why he will stay does not want failure last thing on his CV .... Plus there no where for him to go .so if he did go he would disappear out of football
He's very much a "get on with the job in hand" person. At present he's at Charlton Athletic so he's doing his best to work there. He isn't a Lyle Taylor who wants to leave so I won't bother completing the job I'm in now. If he's actually offered a job at a different club he may accept and then he'll move on to his new position and give his all to that.
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Post by clarky on Jul 31, 2020 10:29:55 GMT
Proof of funds have been proved to EFL
And accepted? Have I missed something? Is it good news? Is the embargo lifted?
Maybe we'll get even better news then and find that Sheff Wed have been given a points penalty and we're unrelegated.
I believe that nugget came from Alan Nixon who was probably fed it by CF. Not heard anything from EFL. |
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Post by ExeterAddick on Jul 31, 2020 10:30:37 GMT
My prediction is that Bowyer's departure will be announced on Tuesday. If Bowyer was going he would have gone by now and not having meetings about player recruitment etc etc .... Bowyer will end up another Powell that’s why he will stay does not want failure last thing on his CV .... Plus there no where for him to go .so if he did go he would disappear out of football Hope you're right. I think it will depend on whether ESI tell him on Monday that we can start signing new players immediately. If it's going to be another couple/few weeks delay, it'll make it impossible for any manager. |
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Post by earlpurple on Jul 31, 2020 10:33:04 GMT
There will be loan players available. If we're able to pay enough of the wages for the loans, there are a lot of big clubs on low budgets hoping to off-load players who are not quite in their first team plans. This may include some Championship clubs. May include whichever of Brentford and Fulham don't get promoted - after all loaning out to a London club is quite attractive. And may also include the one that does, if they feel their player isn't ready to play in the Premier League. Hopefully Brentford will "compensate" us for losing to Barnsley by giving us a couple of decent players on loan. Not sure how much say Scott Parker has but maybe he will be nice to us too.
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Post by clarky on Jul 31, 2020 10:45:52 GMT
Proof of funds have been proved to EFL It seems this was tweeted yesterday by the infamous Alan Nixon. I was surprised and a bit confused, not least since this news hasn’t surfaced anywhere else, and I wondered if he’d got confused and has his wires crossed? If he’s right, I assume it must apply to the Elliott consortium in which case I’d expect us to get confirmation very soon. I decided not to hold my breath though. I think he said proof of funds have been shown, not approved, and other things are holding matters up. I also think proof and source are two different things and the latter was the stumbling block with Nimer. |
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Post by kings hill addick on Jul 31, 2020 10:48:23 GMT
My prediction is that Bowyer's departure will be announced on Tuesday. If Bowyer was going he would have gone by now and not having meetings about player recruitment etc etc .... Bowyer will end up another Powell that’s why he will stay does not want failure last thing on his CV .... Plus there no where for him to go .so if he did go he would disappear out of football You're forgetting that he signed a new a contract in Jan/Feb. He will, at the very least, need to negoiate his 'exit payment'. He is entitled to full payment for as long as his contract runs, and if another club want him they will have to pay compensation to us. If he is going to leave he will need to 'pretend' to be wiling to stay in order to maximise the terms of his leaving. It is not just as simple as him deciding that he's going to leave! |
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Post by reamsofverse on Jul 31, 2020 10:49:23 GMT
This is smug Farnell talking about the Bury takeover in August 2019.
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Post by AndyAddick on Jul 31, 2020 10:53:31 GMT
slime ball, love the way he detaches himself from the debacle 'seems very unfair on BURY Football Club" ,,, kinda face you want to slap
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Post by earlpurple on Jul 31, 2020 10:53:46 GMT
I recall with Bury and Bolton they were both in a similar position but Bolton put a team together and played fixtures and Bury did not.
At the end of the month with Bury not having played any of their fixtures they were thrown out of the league, whilst Bolton were reprieved. They had a points penalty and got relegated but still have a club at the end of the day.
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Post by AndyAddick on Jul 31, 2020 10:57:26 GMT
I recall with Bury and Bolton they were both in a similar position but Bolton put a team together and played fixtures and Bury did not. At the end of the month with Bury not having played any of their fixtures they were thrown out of the league, whilst Bolton were reprieved. They had a points penalty and got relegated but still have a club at the end of the day. chris and his chums had better start signing some players then , oh no , wait a minute , HE CANT , its embargo time from when HE represented No Cash Nimer , !! |
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Post by reamsofverse on Jul 31, 2020 11:05:53 GMT
slime ball, love the way he detaches himself from the debacle 'seems very unfair on BURY Football Club" ,,, kinda face you want to slap From what I'm hearing that is a distinct possibility sometime soon. |
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Post by earlpurple on Jul 31, 2020 11:09:37 GMT
I recall with Bury and Bolton they were both in a similar position but Bolton put a team together and played fixtures and Bury did not. At the end of the month with Bury not having played any of their fixtures they were thrown out of the league, whilst Bolton were reprieved. They had a points penalty and got relegated but still have a club at the end of the day. chris and his chums had better start signing some players then , oh no , wait a minute , HE CANT , its embargo time from when HE represented No Cash Nimer , !! We can play with academy players, that's what Bolton did, and eventually got free agents in too. I don't want us to be this season's Bolton but I'd rather that than being this season's Bury.
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Post by bexleyboy on Jul 31, 2020 11:47:50 GMT
Bowyer said he had communication with Paul Elliott who has told him no one for sale and that he would back him .....
CAFC media Instagram
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Post by reamsofverse on Jul 31, 2020 11:52:34 GMT
Lip service for fools that BB. If you want to believe that go ahead but I can assure you Lee doesn't.
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Post by kings hill addick on Jul 31, 2020 12:05:00 GMT
Lip service for fools that BB. If you want to believe that go ahead but I can assure you Lee doesn't. In all fairness, Charlton, like, I suspect, all other clubs, start the summer saying that they don’t intend to sell their star players, but then once they’ve sold season tickets they sell one/some. Also I have no time for Chris Farnell, but his speciality is sports lawyer, and he obviously gets involved with clubs in trouble. We can’t blame him for not being able to save every club he’s been called in to help. Next thing you know we’ll be blaming divorce lawyers for not saving marriages. |
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Post by AndyAddick on Jul 31, 2020 12:20:45 GMT
Bowyer said he had communication with Paul Elliott who has told him no one for sale and that he would back him ..... CAFC media Instagram ohhh. thats OK then , any sign of proof of funds and where they come from ..... THUD ! |
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Post by 1978sussex on Jul 31, 2020 12:42:21 GMT
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Post by 1978sussex on Jul 31, 2020 12:42:43 GMT
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Post by 1978sussex on Jul 31, 2020 12:45:26 GMT
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Post by ExeterAddick on Jul 31, 2020 12:48:03 GMT
Doesn't sound as bad as it could be, but claims that ESI have satisfied all the requirements obviously wide of the mark.
Another week or two of this dragging on isn't great for next season's planning.
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Post by petecafc on Jul 31, 2020 13:01:09 GMT
More dithering, brilliant! It would be nice if we could put out a competitive team for the start of the season. What answers do they need and why has it taken 8 months to provide them? Not good enough from ESI or the EFL. |
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