Our owners.....

This sort of stuff almost always ends with a massive **** off tax bill, which will inevitably mean administration if it ends up falling on our owners.

 

Fair enough I just wouldnt trust this new lot with 100% of it, longer it stays 50%crynes 50%BMBC the better for me.

 

Unfortunately conway and co have created the miss trust....that exists around their ownership..in my opinion....theres no one else...to blame but themselves ....

 

Me too.
But all this negativity - you have to calculate the Barnsley psyche into it.
People in Barnsley GENERALLY don’t like:
Outsiders
Success
Anyone with money
Smiling

So these owners have a steep slope infront of them.

 

Ironically apart from people such as you who hold strong anti immigration views and people who hold racist views I've not really met anyone from barnsley who dislikes outsiders.

 

That's because Patrick valued the land for what it was worth to the football clubs while the council valued it at what it was worth to a developer with planning permission for houses on it.

 

Can you remember what the loan was secured against as they didn't own any of the physical assets?

 

What is untrue in what I've said? Gally said in the same thread "It was a short term facility to cover transfer deals".

 

B

 

That’s right - as much as I believe you are a professor of nuclear physics at Cambridge University.

You crazy fool !!!

 

Yes I remember people being fairly happy with the answer too but can't for the life of me remember what that answer was. You're right though it could have been an overdraft

 

I'm sure they said it was an overdraft facility to cover the comings and goings of players in the transfer window. The CEO referred to it in a radio Sheffield interview. They either didn't even need it in the end,or paid it off very quickly. It wasn't a loan secured against any assets

 

I think it was presented at the time as more of an overdraft that hadnt been used.

 

Yes, made available as a facility to aid cash flow during the transfer window. Asked about it about 18m35s into the interview here.

https://www.bbc.co.uk/sounds/play/p07xc5zd

 

It's a fact of life that whatever business you look at, people with considerable wealth
don't become rich or enhance those riches by spending their own money. They usually
borrow or use " someone" else's finances.

When I worked, one of my suppliers who eventually turned out to be a billionaire once
told me the secret of his success over a working lunch. He manufactured plastic sacks
and moulded re-cycling bins, caddies and compost bins. It was an eye opener to learn
that most of his feeder stocks came from free donations from firms keen to give away
any surplus plastic packaging, rather than pay for it to be removed.

He then pelletised and blended it with carbon black and any virgin feeder stocks that he had
to purchase to get the required elasticity needed in the specification. Apparently, there were
also Government grants he could also take advantage of.

His HQ , factory and main manufacturing plant were in Hereford but he himself lived in Bern ( Switzerland)
where he had a group of Accountants and legal and financial advisors who took care of his day to day
business. His mantra was make money using someone else's not his own. He was a very thrifty guy.
His field sales representatives all used to have a top of the range Mercedes on the grounds that after
three years, if cared for and maintained properly, he was able to recoup a higher amount on them than say a Ford
Mondeo would, once he had put a job lot through the auction.

 

does he want to buy a football club in South Yorkshire by any chance?

 

I agree. I trust BMBC to ‘do the right thing’ and keep hold of their landholdings - and I would certainly want them to, no matter who the owners are. Steve Houghton as Leader Is no bad thing. A proper Reds fan.