I have just watched the live stream myself. I will find out if the recording can be made available as it was last time. Certainly we will bring you the slides and hopefully a written summary.
@Jonny_King said:
Hi @AlanCecil. Do you know if there will be a recording of the presentation online? Got dragged along to my wife's work do so had to miss it.
In my opinion 10 times better presentation than the Bill and Jim effort. Whilst nothing can be guaranteed, I personally feel much more confident about this American.
I can't see any negatives about tonight's meeting. Looking forward to people comments as sure people will have picked up things I missed. Surprised there was no mention of sell on fees we have received to help pay debt and/or increase playing budget.
Didn't catch all of the presentation so will have missed lots. Rob spoke very well as you'd expect from a litigator.
Apologies if elements are wrong but the headline is they'll be ploughing in circa. £1.5 to £2mil quid and will expect majority ownership in December. If not, they want money back plus 10%. £300k already been loaned and another £300k incoming over the next 6 to 8 weeks. No debt will be placed on the stadium.
Money will be spent paying off Bill and Jim, other loans, increasing playing budget (sustainably) and improving matchday experience. Improved sound system and more buses to get the crowds coming in.
For what it's worth, my preference has always been a supporter-owned model, but accept that ship has sailed. On the surface, Rob's proposal looks as good as we could expect. Will I be sad when they takeover. Yes. Will I be apprehensive. Yes. Will I back them. Of course.
@floyd said:
Thanks Richard. Is the £1.5-2M figure amount they expect to invest/loan between now and Christmas? Is the £600k included in that or not?
If we don’t give them a majority share we’re looking at nearly £3,000,000 of debt.
They were careful not to put an overall number on it but £300k has been loaned with another 300k incoming over the next few weeks. Bill and Jim's loan from memory was circa. £500k. So that £1.5 to £2mil is guesswork on my behalf and is likely the total value over the next year or two.
If Legacy members don't agree in December, I suspect the value of repayments will be £500k to Bill and Jim and £600k to Rob. As above, no mention of the Hause money although assumingly, Wolves won't pay it through an instant transfer.
It was my impression that they would be in for closer to only £1.25m by end of the year, made up as follows:-
£300k already lent
£300k in 6-8 weeks
£150k? to pay off outstanding debts (Chairboys funders?)
£500k to repay Luby and Collis
It's a substantial sum if legacy members don't then approve the sale and would be liable to 17.5% interest if I heard correctly. With the total debt then being due 120 days plus 80 days after that (call it end of July next year).
If they keep having to put in £300,000 every couple of weeks we’re going to owe them an incredible amount come January. Hopefully they’ll hold back on everything but the absolute necessities until the legacy members have had their say.
@Twizz said:
It was my impression that they would be in for closer to only £1.25m by end of the year, made up as follows:-
£300k already lent
£300k in 6-8 weeks
£150k? to pay off outstanding debts (Chairboys funders?)
£500k to repay Luby and Collis
It's a substantial sum if legacy members don't then approve the sale and would be liable to 17.5% interest if I heard correctly. With the total debt then being due 120 days plus 80 days after that (call it end of July next year).
Is that what others thought the numbers were?
That's a far better breakdown than my initial stab and from memory, your numbers look spot-on.
If we don't accept this deal who the hell would then want to put enough money in (£1.47m, including interest) given that the legacy members would already have NOT approved the sale to Rob Couhig?
It feels not so much like turkeys voting for Christmas but turkeys being given a choice between Thanksgiving and Christmas.
Yes I am afraid that we are between a rock and a hard place. Rack up the debt in the next 6 to 9 months and we will have no one else interested. I am however unable to see what the alternatives are other than just fade away slowly as a club. I for one will be supporting this bid all be it with some reluctance.A bit sad really as I like the supporter owned concept.
I always find this stuff very difficult to get my head round, so I may be missing something but here's where I see things. Come the new year we are going to be so indebted to Couhig that there is no way on earth we'd be able to repay his loans within 180 days. So the choice we are going to effectively be given is hand over 75% or the club goes into oblivion (beginning to sound familiar)
But despite this, the threshold for approving the deal is still very very high and I think the odds are against it happening.
I can only assume that these loans were so badly needed that they were the difference between going into administration and continuing to function as a viable business. If not, it is a fairly scandalous gamble on behalf of the decision makers without any consultation of its members (aka the owners of the football club)
Oh, and ps. that story about the Wycombe fan on Italy sounded like totla bullshit to me
As ever, I hope the trust has a plan for what happens if the 75% threshold is not met. And I’m not sure what that plan could be this time around as there is no way we could repay the loan to Couhig next year.
Some of the other things said.
All their time over next 9 months is at no cost.
They are looking at ways to increase revenue to minimise any borrowing eg make the match day experience enjoyable by better food, drink, toilets, sound system, clean stadium, pre and after match entertainment etc.
They are not intending to cut spending necessarily but make it efficient, so that what we get for the money is worth it.
Also mentioned a probable U23 Develpment set up in the next year (one of Gareth's wishes).
My view was that they want to make this a success, they are in it for a ROI in long term, will plough in most of what we ask for (so we need to be careful what we ask for moneywise). If after having 9 months to prove to the Legacy Members that they are the right team the vote goes against them they will be "pissed off". As they said "if you don't love us we won't stick around"
For my part I thought they were very credible, had a good track record (especially Mark Palmer) and were willing to take their time to prove themselves.
Obviously we will have to see how they perform but I am more optimistic now then I was with the other Americans (even though I saw their investment better than Andrew Harman's)
Perhaps @eric_plant & @Chris should campaign for a positive vote for this guy then ? I am sure they understand there will always be risk ,but that the alternative is a derby against Slough town in a few years , or no club ... come on guys , the fan owned model is not working . Do you expect any investment from any other party to be any better ? you guys need to smell the coffee !
Comments
Same here
ah Hang on....we’re off
Can someone please summarise as the meeting goes on. Still can’t get more than the music and front slide on the live stream
I have the stream now. A different post appears in the Facebook group which takes you to the live stream
Still can’t get in @Manboobs. Can you add highlights for us less techno Gasroomers please?
If unable to view, leave the FB page and go back in again and click on latest article
Yes that what I did
If you got an email from the club this week then click on the WWLive Stream link in that email - worked for me!
Hi @AlanCecil. Do you know if there will be a recording of the presentation online? Got dragged along to my wife's work do so had to miss it.
I have just watched the live stream myself. I will find out if the recording can be made available as it was last time. Certainly we will bring you the slides and hopefully a written summary.
If you go to https://www.facebook.com/trev.stroud.98/videos/233607397597393/ you should be able to watch it, provided you are registered on that Facebook page which is for Trust members
In my opinion 10 times better presentation than the Bill and Jim effort. Whilst nothing can be guaranteed, I personally feel much more confident about this American.
I can't see any negatives about tonight's meeting. Looking forward to people comments as sure people will have picked up things I missed. Surprised there was no mention of sell on fees we have received to help pay debt and/or increase playing budget.
@AlanCecil Thanks Alan.
Didn't catch all of the presentation so will have missed lots. Rob spoke very well as you'd expect from a litigator.
Apologies if elements are wrong but the headline is they'll be ploughing in circa. £1.5 to £2mil quid and will expect majority ownership in December. If not, they want money back plus 10%. £300k already been loaned and another £300k incoming over the next 6 to 8 weeks. No debt will be placed on the stadium.
Money will be spent paying off Bill and Jim, other loans, increasing playing budget (sustainably) and improving matchday experience. Improved sound system and more buses to get the crowds coming in.
For what it's worth, my preference has always been a supporter-owned model, but accept that ship has sailed. On the surface, Rob's proposal looks as good as we could expect. Will I be sad when they takeover. Yes. Will I be apprehensive. Yes. Will I back them. Of course.
Thanks Richard. Is the £1.5-2M figure amount they expect to invest/loan between now and Christmas? Is the £600k included in that or not?
If we don’t give them a majority share we’re looking at nearly £3,000,000 of debt.
Think the Hause sell on needs some clarity, the figures being banded around made it sound like we were due a decent windfall.
They were careful not to put an overall number on it but £300k has been loaned with another 300k incoming over the next few weeks. Bill and Jim's loan from memory was circa. £500k. So that £1.5 to £2mil is guesswork on my behalf and is likely the total value over the next year or two.
If Legacy members don't agree in December, I suspect the value of repayments will be £500k to Bill and Jim and £600k to Rob. As above, no mention of the Hause money although assumingly, Wolves won't pay it through an instant transfer.
It was my impression that they would be in for closer to only £1.25m by end of the year, made up as follows:-
£300k already lent
£300k in 6-8 weeks
£150k? to pay off outstanding debts (Chairboys funders?)
£500k to repay Luby and Collis
It's a substantial sum if legacy members don't then approve the sale and would be liable to 17.5% interest if I heard correctly. With the total debt then being due 120 days plus 80 days after that (call it end of July next year).
Is that what others thought the numbers were?
If they keep having to put in £300,000 every couple of weeks we’re going to owe them an incredible amount come January. Hopefully they’ll hold back on everything but the absolute necessities until the legacy members have had their say.
That's a far better breakdown than my initial stab and from memory, your numbers look spot-on.
Thanks @Twizz
If we don't accept this deal who the hell would then want to put enough money in (£1.47m, including interest) given that the legacy members would already have NOT approved the sale to Rob Couhig?
It feels not so much like turkeys voting for Christmas but turkeys being given a choice between Thanksgiving and Christmas.
Yes I am afraid that we are between a rock and a hard place. Rack up the debt in the next 6 to 9 months and we will have no one else interested. I am however unable to see what the alternatives are other than just fade away slowly as a club. I for one will be supporting this bid all be it with some reluctance.A bit sad really as I like the supporter owned concept.
I always find this stuff very difficult to get my head round, so I may be missing something but here's where I see things. Come the new year we are going to be so indebted to Couhig that there is no way on earth we'd be able to repay his loans within 180 days. So the choice we are going to effectively be given is hand over 75% or the club goes into oblivion (beginning to sound familiar)
But despite this, the threshold for approving the deal is still very very high and I think the odds are against it happening.
I can only assume that these loans were so badly needed that they were the difference between going into administration and continuing to function as a viable business. If not, it is a fairly scandalous gamble on behalf of the decision makers without any consultation of its members (aka the owners of the football club)
Oh, and ps. that story about the Wycombe fan on Italy sounded like totla bullshit to me
Agreed @eric_plant. I haven’t seen the presentation, but on the surface these numbers are worrying.
Sounds like the Italian job but that is how I see it too Eric.
As ever, I hope the trust has a plan for what happens if the 75% threshold is not met. And I’m not sure what that plan could be this time around as there is no way we could repay the loan to Couhig next year.
Some of the other things said.
All their time over next 9 months is at no cost.
They are looking at ways to increase revenue to minimise any borrowing eg make the match day experience enjoyable by better food, drink, toilets, sound system, clean stadium, pre and after match entertainment etc.
They are not intending to cut spending necessarily but make it efficient, so that what we get for the money is worth it.
Also mentioned a probable U23 Develpment set up in the next year (one of Gareth's wishes).
My view was that they want to make this a success, they are in it for a ROI in long term, will plough in most of what we ask for (so we need to be careful what we ask for moneywise). If after having 9 months to prove to the Legacy Members that they are the right team the vote goes against them they will be "pissed off". As they said "if you don't love us we won't stick around"
For my part I thought they were very credible, had a good track record (especially Mark Palmer) and were willing to take their time to prove themselves.
Obviously we will have to see how they perform but I am more optimistic now then I was with the other Americans (even though I saw their investment better than Andrew Harman's)
Perhaps @eric_plant & @Chris should campaign for a positive vote for this guy then ? I am sure they understand there will always be risk ,but that the alternative is a derby against Slough town in a few years , or no club ... come on guys , the fan owned model is not working . Do you expect any investment from any other party to be any better ? you guys need to smell the coffee !