The Gimp, on 27 October 2016 - 07:06 AM, said:
I'm not sure it's the time for protests just yet. I think if a few of our brighter posters got together and collated some very sharp and pertinent questions at the agm and give the "deedahs " the opportunity to answer first.
Yourself, freeland, 60s70s, and Roman Numerals seem to be leading the way with information and background knowledge so perhaps you guys ought to be the representatives.
I'm thinking of gts burning bridges articles and then looking back and thinking of how Haslam asset stripped MTFC once they started protesting, and how Norton Lee knowingly sold to a penniless Brown once protests started here and thinking maybe fans ought to be careful
First of all thanks for the 'bright' compliment.
Though I'm sure there're those who'd disagree.
But speaking of Allen's options let's go through 'em.
The number one worry is that he splits the football club from the stadium. My understanding is the debt would remain with the bricks and mortar, so the current Chairman would essentially be left with a leisure facility that'd cost him several million quid. Could he elicit enough from it to finance his repayments, five percent returns and a worthwhile profit? I dunno, especially as many Town fans would refuse to attend whilst the negative PR would surely be inhibitive. As for the football club I'm sure there'd be a number of takers - but would they all be DB's?. Would Allen care? Or then he might even appoint a 'puppet' board populated by such as Carson and family members to whom he'd gift shares. Maybe that's a process already begun.
Alternatively he could carry on as we currently are, seeming to stumble from one set of debt-increasing accounts to the next with no real plan to address haemorrhaging cash. Other than cutting the Manager's budget and hoping someone's worth selling, of course. Worse still there must come a point where even he realises individuals he's appointed have become so controversial fans are staying away as a result. Is their reputation so irretrievably damaged he's no choice but to 'move them on'? I believe so, though I wonder just how low support will have to fall for that to happen.
By far the best answer would be for an individual or consortium to buy his shares. Four million quid for a modern venue hosting a third tier club that can average six thousand plus? It was a good deal when Allen bought into it and I reckon it remains a good deal today. The debt? Well I wonder if it could be either re-financed at a lower rate, thereby potentially saving hundreds of thousand PA, or some sort of deal struck with Allen. One that offers him an honourable, ego-salving and relatively painless way out. The simple truth is CFC will have to find money to fund it whoever's in charge; so would the Club be better able to do that with a new Board encouraging investors, sponsors and fans? We can only hope.
I still maintain Dave Allen arrived at CFC for the right reasons, delivered a progressive environment, a stadium to be proud of and arguably our most successful ever period. Meanwhile it's him underwriting losses rather than some questionable source as apparently at Bury. For that we should be grateful. However he's made mistakes which've cost the Club, and therefore himself a great deal of money. Those mistakes include employing people who've created an environment of suspicion and mistrust whilst demonstrating no business acumen whatsoever.
Until DA starts scrutinising these individuals instead of those merely narrating their shortcomings the above options fall into even greater focus.
This post has been edited by MDCCCLXVI: 29 October 2016 - 02:39 PM