[60s 70s Spireite]

moondog, on 08 March 2018 - 05:47 PM, said:

AC has confirmed to me he would support a fans buyout

I’m interested. All depends on what liabilities we would assume though.

[tomjoad]

We have to start somewhere nothing ventured nothing gained and all that.
Maybe a rallying call in The Derbyshire Times/Chesterfield Post sort of thing.

Maybe the "local consortium" will stir as well.

[Blue5]

60s 70s Spireite, on 08 March 2018 - 06:02 PM, said:

I’m interested. All depends on what liabilities we would assume though.

I think it is important to establish what deals had previously been agreed in terms of the equity and debt. Like you, I would be interested too.

[The Earl of Chesterfield]

Zorro, on 08 March 2018 - 05:32 PM, said:

Sammy, the question is - how bad do the fans want a change of ownership? If I was in a position to buy the club and with what I know about some of the previous dealings, do you think I would go public with my findings? Not a chance. I would want the deal to go through smoothly and CFC to be run correctly in the future without any skeletons in the closet.

An email I have received gives a better idea of what could be the way forward.

The initial funds raised would be used to pay off DA but the investment would be in the form of Share Capital either a further issue of the existing shares or a new class of shares. In theory the new investors would be able to sell their holding therefore it would be an investment, although it could be a high risk. The £5,000 limit would exclude many fans but there is no reason why they couldn't group together, for example (The Bridge Inn Travel).

The initial directors/management structure (limited to approximately six) would have to be elected but would need to be capable of giving their time up for free and undertaking the duties at present carried out by senior staff members and paid outside contractors. In view of the state of current finances I don't think this is unrealistic.

The initial monies raised would be placed in a secure account (escrow) with solicitors acting on behalf of the consortium with the provision it is returned less any legal fees if the offer fails.

We have already messaged AC to ask if the price & suggestion is realistic.

Z

Excellent stuff, Rob.

I'm not a wealthy bloke, but if this takes off I can guarantee a ST purchase, several Saturdays in the lounges, renewed spending at the stadium and other bits and bobs such as Spire Lotto.

There may not be a thousand folk willing to chuck-in five grand up-front but I'm sure there're five thousand willing to spend a grand every season.

[Westbars Spireite]

The only way I'll have 5k any time soon is if I get made redundant at work

[Wooden Spoon]

Zorro, on 08 March 2018 - 05:32 PM, said:

Sammy, the question is - how bad do the fans want a change of ownership? If I was in a position to buy the club and with what I know about some of the previous dealings, do you think I would go public with my findings? Not a chance. I would want the deal to go through smoothly and CFC to be run correctly in the future without any skeletons in the closet.

An email I have received gives a better idea of what could be the way forward.

The initial funds raised would be used to pay off DA but the investment would be in the form of Share Capital either a further issue of the existing shares or a new class of shares. In theory the new investors would be able to sell their holding therefore it would be an investment, although it could be a high risk. The £5,000 limit would exclude many fans but there is no reason why they couldn't group together, for example (The Bridge Inn Travel).

The initial directors/management structure (limited to approximately six) would have to be elected but would need to be capable of giving their time up for free and undertaking the duties at present carried out by senior staff members and paid outside contractors. In view of the state of current finances I don't think this is unrealistic.

The initial monies raised would be placed in a secure account (escrow) with solicitors acting on behalf of the consortium with the provision it is returned less any legal fees if the offer fails.

We have already messaged AC to ask if the price & suggestion is realistic.

Z

That’s an interesting idea, especially if it was open to affordable amounts for individual fans it would be something I would “invest” in. Not sure I could stretch to 5k but even so.....



Maybe a similar thing as before, a period of cuss memberships for a certain amount of investment

It would however need people to actually fulfill roles, have tasks to complete, targets to achieve etc rather than people sitting around a table.

This post has been edited by a kick in the balls: 08 March 2018 - 06:20 PM

[moondog]

I think lowering the minimum investment is worth considering.

Incidentally AC has said DA wouldn't sell in the event of relegation as he'd lose over half the value
He would want AC to stay to fight our way back.

[financejon]

Rob, great idea worthy of support count me in as a definite commitment for the amount proposed. Jon

[Wooden Spoon]

moondog, on 08 March 2018 - 06:20 PM, said:

I think lowering the minimum investment is worth considering.

Incidentally AC has said DA wouldn't sell in the event of relegation as he'd lose over half the value
He would want AC to stay to fight our way back.

Or a vehicle to collectively pool lower investment amounts. CFSS 2 or similar. Annual membership of £100 10 year membership of £750 life membership of £2000.?



Amounts don’t really matter, it would be about raising a deposit and then a consortium of local business and ongoing membership to fund the repayment plan to DA.

[dim view]

moondog, on 08 March 2018 - 06:20 PM, said:

Incidentally AC has said DA wouldn't sell in the event of relegation as he'd lose over half the value

evening
Sorry to be thick, but I don't understand this. Does that mean the £5m is a goer unless relegated?

[Ernie Ernie Ernie]

moondog, on 08 March 2018 - 06:20 PM, said:

I think lowering the minimum investment is worth considering.

Incidentally AC has said DA wouldn't sell in the event of relegation as he'd lose over half the value
He would want AC to stay to fight our way back.

What would/does Ashley add to the fight?

[azul]

dim view, on 08 March 2018 - 06:35 PM, said:

evening
Sorry to be thick, but I don't understand this. Does that mean the £5m is a goer unless relegated?

Let be real about this it is blindingly obvious that a non league club won't be worth as much as a non league club irrespective of DAs bottom line

What it does mean is that we can look forward to AC navigating us through the next 5 years or more

[gb007]

Zorro, on 08 March 2018 - 03:21 PM, said:

The Club is for sale and we don't know a price that DA will accept.

This is a far bigger problem than when we had to drum up finances for the DB era and everyone is waiting for a knight in shining armour to appear in Chesterfield. Lot's of hot air & guessing going on which is not helping the club or team at this moment in time. None of us know for sure where we will be playing next year and although I am not a fan of DA, I am certainly grateful to him for getting us to Sheffield Road & creating the fantastic facilities we have. The fans can't really do much more or say anymore to either DA or AC, they get your message loud and clear. Some will still want to chase them after they have gone. The days of tar & feathering have gone!!

Every problem needs to find a solution and the problem the fans have is that they want to remove the current ownership of CFC. A solution would be to find a buyer but nobody is really coming forward, a deal is supposed to be not far away but is it a deal that will save CFC and be in the interest of the fans or just an opportunity for DA & AC to cut and run?

How about we start creating a list of people who are prepared to invest into the future of CFC? I have no idea what DA would accept as a minimum offer but let's say he was willing to accept £5M. How about setting a target of getting pledges of a minimum of £5,000 per person. That's only 1,000 people pledging. We would need to create at least 1,000 pledges plus additional money if we have fans that could afford to donate in multiples of £5,000 for the future investments into the club and running of. Once DA breaks away, you can't go running to him every month with the cap in hand tactics to meet expenses.

How the mechanics would work, I don't know. But it is only a suggestion which could be thought about and if we have enough interest from individuals & businesses, then it might be worth following up.

AC will know of my suggestion as soon as I press the post button, so I would know within a few minutes if it was something that we could follow through. I know of a few that would be willing and some of my associates would jump at the chance of helping.

Over to you for discussion.

And you have my mobile Ashley

Z

Hi Rob definitely worth looking in to - count me in
If there is enough interest then we should get together asap

[Wooden Spoon]

azul, on 08 March 2018 - 06:41 PM, said:

What it does mean is that we can look forward to AC navigating us through the next 5 years or more

Not sure it would, as long as any buyer kept to agreed repayment terms there wouldn’t be any need for the assay snake to be involved

[azul]

a kick in the balls, on 08 March 2018 - 06:45 PM, said:

Not sure it would, as long as any buyer kept to agreed repayment terms there wouldn’t be any need for the assay snake to be involved

Checkout what Moondog posted - DA won't sell if the club gets relegated and he'll trust AC to guide us through

Personally I'lll take that with a pinch of salt

[Wooden Spoon]

azul, on 08 March 2018 - 06:54 PM, said:

Checkout what Moondog posted - DA won't sell if the club gets relegated and he'll trust AC to guide us through

Personally I'lll take that with a pinch of salt

I read it as if we went down it’s unlikely they’d buy so DA would fund and AC obviously stays, but if that’s incorrect then I’ve hot it wrong

[Aspireite]

azul, on 08 March 2018 - 06:54 PM, said:

Checkout what Moondog posted - DA won't sell if the club gets relegated and he'll trust AC to guide us through

Personally I'lll take that with a pinch of salt

cause thats worked so well so far

[moondog]

dim view, on 08 March 2018 - 06:35 PM, said:

evening
Sorry to be thick, but I don't understand this. Does that mean the £5m is a goer unless relegated?

Yes Dave

[h again]

a kick in the balls, on 07 March 2018 - 08:00 PM, said:

It lured Dave Allen.


You never know, the new owners might employ a company CEO and finance director, you know, ones who might ask “where’s the money gone?” and who wouldn’t perhaps run rings around those high flying accountants you’ve been so critical of.



Maybe they could do that, run at break even while having a successful side? A bit like the sort of thing that happened in our first season before AW was outed and Turner brought in.


You remember Chris Turner don’t you? The bloke who was a finance disaster, the bloke who’s venture across the road collapsed owing local families lots of money, and the bloke you not only failed to condemn but publicly supported during his entire time at CFC

What lured Dave Allen was the potential for improvement, going from Saltergate to a new stadium. That situation no longer exists.

Have you anything useful to say or are you just off on another bout of insults and lies?

[dim view]

moondog, on 08 March 2018 - 07:15 PM, said:

Yes Dave

I'm just picking myself up off the floor.

Allen will sell with no further liability to him, for £5m?