[valemadness]

The Kirk brothers are proposing to own 75% of shares and so change the ownership of the club. Going to be part of the AGM.
https://chesterfield...ciation-for-agm

[rodney]

valemadness, on 01 March 2024 - 07:37 PM, said:

The Kirk brothers are proposing to own 75% of shares and so change the ownership of the club. Going to be part of the AGM.
https://chesterfield...ciation-for-agm

I assume the extra share ownership comes with further investment. Positive all round in my opinion

[Mr Mercury]

rodney, on 01 March 2024 - 07:44 PM, said:

I assume the extra share ownership comes with further investment. Positive all round in my opinion

Further £2m according the the article, I think!

[60s 70s Spireite]

Inevitable that the Kirks would need to increase their shareholding if further investment was needed. And seemingly it is.

Is it to fund losses or for investment in players and/or other assets?

[hilly81]

These lads mean business.

[CFC91]

The lads

[Lincs Spireite]

I'm all for it. Being fans these lads have the best interests of the club at heart, and know their way around a balance sheet for the long term future.

[Mr Mercury]

60s 70s Spireite, on 01 March 2024 - 08:06 PM, said:

Inevitable that the Kirks would need to increase their shareholding if further investment was needed. And seemingly it is.

Is it to fund losses or for investment in players and/or other assets?

Coupled with the oft mentioned £1m improvement in incoming funding when we return to the EFL, seems quite a nice windfall. Surely not to cover losses given our attendances this season and the fact we’re not the top budget and the Kirk’s said getting a hold on the finances was a priority at the last AGM.

[60s 70s Spireite]

Mr Mercury, on 01 March 2024 - 08:15 PM, said:

Coupled with the oft mentioned £1m improvement in incoming funding when we return to the EFL, seems quite a nice windfall. Surely not to cover losses given our attendances this season and the fact we’re not the top budget and the Kirk’s said getting a hold on the finances was a priority at the last AGM.

Could also be to repay some of the loans taken out when the Trust took over the club.

[Mr Mercury]

60s 70s Spireite, on 01 March 2024 - 08:24 PM, said:

Could also be to repay some of the loans taken out when the Trust took over the club.

I also remember at last seasons AGM Phil Kirk, I think it was, apologies if I’ve got the wrong bro’, said that they had others who were maybe interested in investing in the club but being in the NL was a drawback, hopefully now we’re going to be back in the EFL next season that may also come to fruition.

[spireitetoo]

2 astute business men, as well as lifeling fans, can only mean the club is in the best shape its been in for... well.. probably ever?

[HaslandBlue58]

60s 70s Spireite, on 01 March 2024 - 08:24 PM, said:

Could also be to repay some of the loans taken out when the Trust took over the club.

Don't have much of a clue with high finance,but surely that could only be a good thing?

[60s 70s Spireite]

HaslandBlue58, on 01 March 2024 - 08:37 PM, said:

Don't have much of a clue with high finance,but surely that could only be a good thing?

Yes, no problem with that.

[azul]

Mr Mercury, on 01 March 2024 - 08:15 PM, said:

Coupled with the oft mentioned £1m improvement in incoming funding when we return to the EFL, seems quite a nice windfall. Surely not to cover losses given our attendances this season and the fact we’re not the top budget and the Kirk’s said getting a hold on the finances was a priority at the last AGM.

I suspect the upcoming financial figures will not make pleasant reading considering they cover 2022/23. Looking forward to some optimistic words when they discuss this years financials and projections for next year.

This post has been edited by azul: 01 March 2024 - 08:54 PM

[60s 70s Spireite]

azul, on 01 March 2024 - 08:53 PM, said:

I suspect the upcoming financial figures will not make pleasant reading considering they cover 2022/23. Looking forward to some optimistic words when they discuss this years financials and the following year.

Yes, they did tell us that we were heading for a big loss in 22/23 at last year’s AGM didn’t they?

[Mr Mercury]

azul, on 01 March 2024 - 08:53 PM, said:

I suspect the upcoming financial figures will not make pleasant reading considering they cover 2022/23. Looking forward to some optimistic words when they discuss this years financials and projections for next year.

Ah fair point re accounts being a year behind.

[DMU Blue]

Less than a year ago they effectively assumed control with the issuing of the A shares which gave them control over the board if they wanted it.
So assuming this is just to further move things along and inject more cash. Ownership instead of control is the change of you ask me

This post has been edited by DMU Blue: 01 March 2024 - 09:04 PM

[Town_Fan]

On paper great news, isn't there a caveat that if any new owners take more than a 50% stake the loans from the 2 councils have to be repaid?

Edit: should have added "in full"

This post has been edited by Town_Fan: 01 March 2024 - 10:35 PM

[azul]

Town_Fan, on 01 March 2024 - 10:34 PM, said:

On paper great news, isn't there a caveat that if any new owners take more than a 50% stake the loans from the 2 councils have to be repaid?

Edit: should have added "in full"

I have no idea whether this is good news or not but I’d be surprised if they didn’t know the terms of loans and that they could afford paying them off if necessary.

[DIFH]

Mr Mercury, on 01 March 2024 - 08:15 PM, said:

Coupled with the oft mentioned £1m improvement in incoming funding when we return to the EFL, seems quite a nice windfall. Surely not to cover losses given our attendances this season and the fact we’re not the top budget and the Kirk’s said getting a hold on the finances was a priority at the last AGM.

Wonder if these moves are in a way to keep Cook happy.