I wonder why Hull, Middlesbrough and others turned PMG down .

Discussion in 'Bulletin Board' started by Mr Badger, Apr 29, 2022.

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  1. Mr Badger

    Mr Badger Well-Known Member

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    #1 Mr Badger, Apr 29, 2022
    Can anyone remember?
     
  2. Red

    Red CB Well-Known Member

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    #2 Red CB, Apr 29, 2022
    No & to be honest I did see a comment about Hull when the news about them being linked with us but I did not know anything about Middlesboro , I am surprised because I have not read anything about Steve Gibson wanting to sell , he seems like a sound solid owner who loves his club & runs them very well .
     
  3. lk3

    lk311 Well-Known Member

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    #3 lk311, Apr 29, 2022
    Gibson turned them down after an uninitiated offer of £50m for 50%, it wasn’t so much he turned ‘them’ down more he wasn’t interested in selling at all.
    Hull no real details out there except they couldn’t agree a deal.
     
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  4. Loko the Tyke

    Loko the Tyke Administrator
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    #4 Loko the Tyke, Apr 29, 2022
    I really like Steve Gibson, but not sure he’s run Boro as well as you might think. He’s got a famous reputation, at least in years gone by, for giving his managers time to turn things around rather than hiring and firing though.

    Middlesbrough have lost, over the years, £233 million and the vast majority of those losses have been covered by Steve Gibson, either through buying shares in the club or lending money.

    If you take a look at the accounts, it says, 'yes, we owe Steve Gibson somewhere in the region of £120 million', but he has indicated that he is not going to ask for it back. He has been a supporter of the club in more ways than one.
     
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  5. Redstone

    Redstone Well-Known Member

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    #5 Redstone, Apr 29, 2022
    I suppose you could say if he is willing to cover the loses then he is running them well, just not in a profitable way. It does underline how difficult it is to be competitive when other clubs are willing to lose so much money.
     
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  6. Stephen Dawson

    Stephen Dawson Well-Known Member

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    #6 Stephen Dawson, Apr 29, 2022
    We need an Abramovich.
     
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  7. Loko the Tyke

    Loko the Tyke Administrator
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    #7 Loko the Tyke, Apr 29, 2022
    Not sure I agree with that. Given the ever changing global climate these days he could suddenly find himself under a lot of financial pressure and leave them struggling.

    The more and more we apologise for clubs that take handouts or run at a significant loss, the less chance we have of ever getting any kind of level playing field.
     
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  8. dreamboy3000

    dreamboy3000 Well-Known Member

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    #8 dreamboy3000, Apr 29, 2022
    I thought it was the other way around in that they turned the clubs down after seeing how heavily in debt they all were.
     
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  9. ley

    leythtyke Well-Known Member

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    #9 leythtyke, Apr 29, 2022
    The trouble is, he can't do it forever. Both Wigan and Bolton were bankrolled by wealthy fans as well, but the problems came when somebody had to takeover.
     
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  10. Stephen Dawson

    Stephen Dawson Well-Known Member

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    #10 Stephen Dawson, Apr 29, 2022
    That's an ideal and life never mind football isn't like that. You've heard the phrase "tough 5hit". That's the way it is here. Instead of being a beacon for how a club "should be run". It's time we had some owners that weren't bothered about losses.

    That's the only good that I can think will come of the current situation. PMG NCC will sell to billionaires that spend money.
     
  11. Loko the Tyke

    Loko the Tyke Administrator
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    #11 Loko the Tyke, Apr 29, 2022
    And that's how you end up with a Wigan, Bolton, Portsmouth, etc.
     
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  12. Stephen Dawson

    Stephen Dawson Well-Known Member

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    #12 Stephen Dawson, Apr 29, 2022
    They're all thriving now though. You could argue in a better position than ourselves.
     
  13. Loko the Tyke

    Loko the Tyke Administrator
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    #13 Loko the Tyke, Apr 29, 2022
    Pompey and Bolton aren't thriving.......
     
  14. Stephen Dawson

    Stephen Dawson Well-Known Member

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    #14 Stephen Dawson, Apr 29, 2022
    Are they looking at balancing the books to the tune of £8 million and potentially playing the kids next season and appointing their under 23 manager as head coach?
     
  15. Loko the Tyke

    Loko the Tyke Administrator
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    #15 Loko the Tyke, Apr 29, 2022
    That's irrelevant to your comment claiming they're thriving football clubs.
     
  16. Durkar Red

    Durkar Red Well-Known Member

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    #16 Durkar Red, Apr 29, 2022
    The local take on it was that Gibson had lost interest in the club for a time and was concentrating his money on developing Rockcliffe Hall the golf and hotel resort he owns but the deal with PMG wasn’t enough and he changed his mind
     
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  17. ley

    leythtyke Well-Known Member

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    #17 leythtyke, Apr 29, 2022
    But we're also a club that is in trouble, after an owner that used his own money to plug gaps sold the club.
     
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  18. Stephen Dawson

    Stephen Dawson Well-Known Member

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    #18 Stephen Dawson, Apr 29, 2022
    Indeed.
     
  19. Bri

    Brian Mahoneys Waist Well-Known Member

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    #19 Brian Mahoneys Waist, Apr 29, 2022
    The way I read it was PMG offered Gibson 50 million for 51 % and he wasn't prepared to give them the extra 1%,he also confirmed he had seen proof of funds for them to do the deal.
     
  20. Redstone

    Redstone Well-Known Member

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    #20 Redstone, Apr 29, 2022
    I don't think clubs should be allowed to rake up massive debts myself. However I also don't think financial fair play works. If someone owns a club and they want to put the money in they find a way to do it anyway. Except to get around the fair play thing they start selling the ground to themselves ect.
    If I owned a pub would I not be allowed to run it at a loss if I wanted to?
     
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