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Post by mullen103 on Sept 25, 2023 15:56:21 GMT
We’ve had ours the Mrs has voted yes and I’m awaiting a response from the trust re my question on a sale block. I’d likely vote yes anyway but interested to know. @trust - did you realise I can see the names of every single trust member after I’ve voted by clicking on the ballot tracking centre. I can’t see how people have voted but don’t think this is GDPR compliant guys. I can see if someone has voted though. Our finance director has voted.
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Post by blencathra on Sept 25, 2023 16:02:16 GMT
I know that I've been critical of the BOD at times but I've got to say that Day is taking the piss. I can't wait for his ghostly presence to finally disappear from the shadows and we can finally move on. I don't get this one. From a business point of view, surely he would want to work out how he's going to get his money back. Feels like something personal to me, but that's just my feeling as someone who has zero understanding of the situation. There is no doubt he is a hard headed businessman and I've no issue with him wanting to get his money back. What annoys me is the way he's gone about things. He's repeatedly ignored requests to discuss a way forward to sort out the debt and never explained his plans for the club (even when it looked likely he'd takeover). His rep on the board was also silent and we ended up being lumbered with Holdsworth. We are told that he has now at last sent a text message. He clearly doesn't have any affinity with the club so I hope the Piataks somehow sort out the debt once and for all. We can't properly move on until this is done.
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Post by blencathra on Sept 25, 2023 16:04:24 GMT
I know that I've been critical of the BOD at times but I've got to say that Day is taking the piss. I can't wait for his ghostly presence to finally disappear from the shadows and we can finally move on. Isn’t it the board’s fault (including the trust) for not including repayment details in the terms and conditions? Seems like they all blindly signed for the loan in desperation with little consideration for what might be to come. Agreed. Nothing I've said absolves the BOD and Trust for their part in this.
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Post by mullen103 on Sept 25, 2023 16:04:36 GMT
Isn’t it the board’s fault (including the trust) for not including repayment details in the terms and conditions? Seems like they all blindly signed for the loan in desperation with little consideration for what might be to come. Guessing they thought it was a formality that Day would eventually take over so didn’t read all the small print. Careless maybe, but can’t blame them for not foreseeing a retail business destroying pandemic Yeah true, but you plan for strange things especially something that could harm them financially personally. But agree the owners thought they’d takeover and this would never be an issue hence the allowing of the proxy takeover and EWM to stick their people everywhere.
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Post by dstander on Sept 25, 2023 16:06:25 GMT
Isn’t it the board’s fault (including the trust) for not including repayment details in the terms and conditions? Seems like they all blindly signed for the loan in desperation with little consideration for what might be to come. Guessing they thought it was a formality that Day would eventually take over so didn’t read all the small print. Careless maybe, but can’t blame them for not foreseeing a retail business destroying pandemic So they signed a £2m agreement on an assumption? I don’t think careless is the word, more like negligent. I blame then 100% for the mess we find ourselves in, absolutely amateurish.
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Post by mullen103 on Sept 25, 2023 16:08:47 GMT
No problem, as I said loads were sharing on socials - imo the Piataks welcome it and the support - who wouldn’t. Trust board members, some maybe all, wanted it to be for all. For legal purposes and cross I and Ts it had to be officially members only. They invited the press who later, as I thought, wrote up an excellent piece on it along with the interview. I’ve always been transparent and to be honest it seems the Piataks are. There’ll be confidentiality issues on things, which won’t be shared but on things that are, why would they? On the debt I spoke to BA who said don’t worry it’ll be sorted. He’s been wrong before and a text message doesn’t fill you with confidence but he seemed confident and he is on the holdings board. My worry was that in the meeting Tom said it’ll get resolved best for all, but is it really best for Purepay, they are getting high interest rates and creditors will be on their backs because it’ll be public this is sorted. So I don’t think it’s clear cut. Another comment by Tom was that it’ll be resolved but doesn’t know how it will - a bit concerning. That’s exactly what his reply to me was a few years ago at a forum when I asked him what the plan B was as plan A evidently wasn’t working. I don’t really trust what he says really. He told me EWM would never go bust, in a meeting, and that they had no involvement in the loan so I tend to take what he says with a pinch of salt. What happens if the reply by PP is no, I can’t see how they can refuse payment in full though. There’s a sense of confidence it’ll get sorted but if PP are getting £3k a month added to it then why rush if they think they can recover from AJs estate.
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Post by luaphal on Sept 25, 2023 16:11:42 GMT
Covid did us a favour PD would have made an awful owner with the way he handles his business and treats people. We've dodged a bullet there. Still day the best way to deal with the debt is to pay it off in full PD would have no legal grounds for preventing that.
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Post by bstandbob on Sept 25, 2023 16:12:03 GMT
Isn’t it the board’s fault (including the trust) for not including repayment details in the terms and conditions? Seems like they all blindly signed for the loan in desperation with little consideration for what might be to come. Guessing they thought it was a formality that Day would eventually take over so didn’t read all the small print. Careless maybe, but can’t blame them for not foreseeing a retail business destroying pandemic It's more than careless borrowing 2 million bar off someone without agreeing a repayment plan
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Post by dstander on Sept 25, 2023 16:24:54 GMT
It’s akin to the PFI’s which Labour signed up to under Blair. Sign them in desperation without a thought for what damage they will cause further down the line.
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Post by mullen103 on Sept 25, 2023 16:28:56 GMT
Back to the meeting yesterday I was quite impressed by the set up and trust.
Carol, can’t remember her last name, impressed me because previously she’s been very reticent or said very little but yesterday she spoke to us and was going around and was saying some good/interesting stuff. Just wished she’d have done it before.
Imo MS is a good speaker and I cannot stand NDs politics/ideas (I think he knows) and has said some things about certain supporters but he did crack a smile.
I’m not very keen on that ccu/DM bloke really. Standing about doing nowt, easiest job scanning tickets and putting 1 chair away at a time - nah not keen 😂😂😂
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Post by blencathra on Sept 25, 2023 16:39:46 GMT
It’s akin to the PFI’s which Labour signed up to under Blair. Sign them in desperation without a thought for what damage they will cause further down the line. Absolutely correct. Taxpayers end up paying a much higher price than necessary.
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Post by northernsoul on Sept 25, 2023 17:32:58 GMT
I know that I've been critical of the BOD at times but I've got to say that Day is taking the piss. I can't wait for his ghostly presence to finally disappear from the shadows and we can finally move on. Isn’t it the board’s fault (including the trust) for not including repayment details in the terms and conditions? Seems like they all blindly signed for the loan in desperation with little consideration for what might be to come. But at its inception it wasnt a loan dont forget it was a revolving credit facility where the club could use it to smooth out the troughs and peaks in money coming in it was the club that took the piss borrowing more and more without putting any back in [ think an external overdraft or credit card ] till PD put a stop on it and sent Holdsworth and co in to ensure the bill didnt get any bigger.
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Post by northernsoul on Sept 25, 2023 17:36:07 GMT
I know that I've been critical of the BOD at times but I've got to say that Day is taking the piss. I can't wait for his ghostly presence to finally disappear from the shadows and we can finally move on. I don't get this one. From a business point of view, surely he would want to work out how he's going to get his money back. Feels like something personal to me, but that's just my feeling as someone who has zero understanding of the situation. Why would you when you know the bill is getting 15k bigger every month and you have somebody on the hook to pay it back even if the club cant I think hes played a blinder
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Post by wukkie on Sept 25, 2023 18:43:37 GMT
The last owner who advertised the club far and wide was Knighton and that got loads more folk interested including myself but that was some 30 years ago so I'm glad the Piatak's have concluded what many fans have been saying for yeats in that we have a lot of untapped potential.
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