[financejon]

We must now be getting close to finding out exactly how the new investment is to be introduced. Given that the Hillsborough man is waiting for his deal and cash to find a way into his bank account, it is only a matter of time till we are told if new shares are being issued or if existing shares are to be sold.
If new shares are issued, then cfss becomes a very minority shareholder as new man will insist on being an overall majority shareholder to ensure what he says goes. If he buys out existing shareholders then the existing board will have done well out of the cfss share giveaway, and motives will need a thorough questioning. The only other option is a cash injection of new loan monies bearing the usual 6% rate for an unsecured lender ( that is unless he gets first or second call on the new ground ). Whichever route is followed, lets just pray we do not end up with a "Booth" situation of a one man club with our future relying entirely on his money and goodwill, and a few chants from the Kop when times get tough lead to toys coming out of the pram! At least with cfss, democracy and widespread ownership had a chance to protect the Club going forward and defend it against an unwelcome and hostile owner.

[Ernie Ernie Ernie]

jm1452, on Jun 23 2008, 08:13 PM, said:

We must now be getting close to finding out exactly how the new investment is to be introduced. Given that the Hillsborough man is waiting for his deal and cash to find a way into his bank account, it is only a matter of time till we are told if new shares are being issued or if existing shares are to be sold.
If new shares are issued, then cfss becomes a very minority shareholder as new man will insist on being an overall majority shareholder to ensure what he says goes. If he buys out existing shareholders then the existing board will have done well out of the cfss share giveaway, and motives will need a thorough questioning. The only other option is a cash injection of new loan monies bearing the usual 6% rate for an unsecured lender ( that is unless he gets first or second call on the new ground ). Whichever route is followed, lets just pray we do not end up with a "Booth" situation of a one man club with our future relying entirely on his money and goodwill, and a few chants from the Kop when times get tough lead to toys coming out of the pram! At least with cfss, democracy and widespread ownership had a chance to protect the Club going forward and defend it against an unwelcome and hostile owner.

I think with that in mind all involved don't want him in sole charge, hence the ongoing discussions

[Town_Fan]

jm1452, on Jun 23 2008, 08:13 PM, said:

At least with cfss, democracy and widespread ownership had a chance to protect the Club going forward and defend it against an unwelcome and hostile owner.

All well and good but the reality is CFSS has no money and thus is about as much use as a chocolate fireguard. The way they bent over for Hubbard tells you all you need to know about CFSS and its aspirations of ever having a real say in the club's future.

CFSS is a bit like communism, it should be a good idea but in reality some CFSS members are more equal than others and it all ends in tears. CFSS now is a joke compared to the CFSS of years ago that saved a club, its an abhorrence that it still carries the same name and rides the coat tails of those long gone achievements.

[Town_Fan]

Ernie Ernie Ernie, on Jun 23 2008, 08:17 PM, said:

I think with that in mind all involved don't want him in sole charge, hence the ongoing discussions

I would have no problem with that, lets stop arseing about and move the club onwards and upwards. The amount of money DA invested in Wednesday would have seen CFC in the Championship. I wont lose any sleep over the removal of those who have done nothing but keep this club in the doldrums.

[financejon]

jm1452, on Jun 23 2008, 07:16 PM, said:

We must now be getting close to finding out exactly how the new investment is to be introduced. Given that the Hillsborough man is waiting for his deal and cash to find a way into his bank account, it is only a matter of time till we are told if new shares are being issued or if existing shares are to be sold.
If new shares are issued, then cfss becomes a very minority shareholder as new man will insist on being an overall majority shareholder to ensure what he says goes. If he buys out existing shareholders then the existing board will have done well out of the cfss share giveaway, and motives will need a thorough questioning. The only other option is a cash injection of new loan monies bearing the usual 6% rate for an unsecured lender ( that is unless he gets first or second call on the new ground ). Whichever route is followed, lets just pray we do not end up with a "Booth" situation of a one man club with our future relying entirely on his money and goodwill, and a few chants from the Kop when times get tough lead to toys coming out of the pram! At least with cfss, democracy and widespread ownership had a chance to protect the Club going forward and defend it against an unwelcome and hostile owner.

Sorry about this lads, but having just raised myself off a warm beach in Dubai (what timing given the weather at home!), I realised I must be approaching the first anniversary of this posting. Having briefly watched the county's top ex bankers say they haven't a clue how they all cocked up their own finances, I wondered when our own will make the same admission?? Watch this space..........