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The New Deal outline now emailed to Legacy Trust Members

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Comments

  • I seem to remember it mentioned a while back that the big stand needed a new roof, at a cost of circa 250k. Has it been mentioned how/who will facilitate this?

  • @floyd said:
    My understanding of the deal is rudimentary but it seems as tho we’ll reach the 12.5% point sooner rather than later.

    Not sure that's right Floyd.

    As I understand deal, we have to match fund prorate to shareholding any investment the Couhig's put in (I believe after the first Β£2.2m and Β£1m).

    We FALL get Β£135k net rent on the stadium (deferred for five years but still counts for this proposal) with nothing else to do with the money (no debt to be financed by FALL).

    Therefore if say the club needed an investment of Β£750k per year, we need to find Β£187k per year of which we already have Β£135k from rent, leaving us to find just Β£50k per year to keep our shareholding. The Couhigs will have needed to find Β£560k of this money.

    the Trust has little else to do about from fundraising post deal - I would like to think they can find say Β£50k. If we cant perhaps we don't deserve our shareholding.

  • Agreed Devc...we either want as a Trust a say in club or we don't...I do wonder can someone with more legal understanding confirm at if the club sells a player we acquired for free or went on a cup run etc etc the Trust would benefit 25% from that too...and as you point out ...the Couhigs are trying to run a sustainable club as they too do not want to be forking out Β£500,000 every year from their back pockets either...and Financial Fair play rules stop them buying a player buying spree to purposefully bankrupt the Trust...feel free if anyone can see a flaw in this suggestion though...

  • Yes and no to your first point @blue67.

    Proceeds from player sales (regardless of any fee we paid) or cup runs are the clubs property and would likely be used to fund increased future playing budget, future losses etc. The Trust only directly benefits if the club pays a dividend to its shareholders and that feels extraordinarily unlikely.

    The trust would though benefit in that losses would be reduced (eliminated), so no need to fund those losses, so need for trust to pay into club, so trust would get to keep its rent.

  • What I would like to know is that if I don't like the outcome, can we keep voting until I get the result I want?

  • Sorry @EwanHoosaami this is UK/USA not Europe (EU).πŸ˜‰

  • Was the question asked about when the Trust directors on the new board will be elected by the members and when that vote will take place?

  • Thanks @DevC that does make me feel slightly better.

    Have the Couhigs said anywhere how much money they’re planning on putting in year on year?

  • Yes it was, @peterparrotface. The Trust directors on the football club board will be chosen by the Trust board immediately after the deal completes.
    Trust members continue to elect representatives onto the trust board and the Trust Board can change its directors on the Football Club Board if it so chooses.

  • @DevC thanks, very interesting

  • One of the benefits of keeping a minority shareholding as a Trust is that we seem able to regularly raise 50-100k when we need to (e.g. 500 club)

    Still doing this without the burden of needing to fund the club in its entirety feels like a decent move.

  • @Malone said:
    Surely you are @robin . Maybe you're thinking you needed to physically do something to become one, when in reality it was automatic on being a trust member and being a 4 year season ticket holder.

    I don't understand why i have a vote as i'm only a trust member and haven't had a season ticket for 21 years as i moved to Somerset. I am happy for my vote to not count as i don't live in High Wycombe anymore.

  • That's a little bit concerning @robin. have you contacted the Trust to let them know?

  • Conspiracy theorists might suggest the board are so scared of apathy they have given everyone in the Trust a vote

  • If what @robin has written is true the current vote should be declared null and void and the process should not be restarted until the list of those eligible to vote has been redrawn and verified as correct. The result is otherwise open to challenge.

  • @floyd said:
    That's a little bit concerning @robin. have you contacted the Trust to let them know?

    More than a little concerning if robin is counted as a no vote.

  • @Uncle_T Indeed. Shouldn't the CES have done this or do they just oversee the casting of votes?

  • It sounds like they may have been a little generous in matching those on the season ticket database to Trust membership.

  • You’re not Robin Couhig are you @robin ?
    Seriously though, I said (before dawn, I think) that it was concerning and this is an issue which deserves immediate attention.
    @Malone suggests that people may spontaneously become Legacy Members (without necessarily wanting to be) if they are Trust members who are at least into their fourth consecutive season as a season ticket holder. That needs to be clarified as a matter of urgency, I think.

  • What a shambles!

  • Apologies. It was a few minutes before midday when I expressed my original concerns. (Had a long lie-in today!)

  • @micra Malone's suggestion has been clarified in the past I'm sure. The concern is that non-qualifying members have been sent a voting email

  • Exactly that. I didn’t expect the meeting to be streamed in any case.

  • I hope I get another e-mail with everybody's name on it explaining things.

  • He said, slightly missing the point by referring to streaming but that was a surprise in any case.

  • Quick question. With two members of the Trust on the board (assuming all goes through), if both voted no for a proposal put to the board, would that stop it? Does the board go on majority votes, unanimous decisions, or they just get to listen and debate but Felicia can do what they want. For example if Felicia said we’re renaming the team the QickQuid Boys what stops them?

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