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The New Deal outline now emailed to Legacy Trust Members

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Comments

  • Without trying to put down too many details, I have concerns over the amount of capital the deal suggests that we are going to gave yo become "sustainable". It's about 18 months worth at the current burn rate, what happens after that? Another loan? Buying up more shares from 75% wouldn't put much in the coffers, so another loan is the only option I can see, seems a fairly short term plan.

    On aloysius' comments on the trust board, I'm pretty much in agreement, I'm both very grateful of the time and effort they've put in, in keeping the club going through extremely difficult circumstances, but from the outside looking in, they do look out of their depth, with some pretty questionable decisions. A more competent and professional board is one of the "pros" of the bid for me.

  • The β€œevent” of course being @aloysius’s post of 6.33am.

  • @DevC Ah right, I thought you knew who he meant.

  • Don't really understand what you mean.

    For what it's worth I think the deal looks pretty unappealing. It's yet more loans, what happens if they decide they've had enough and want their money back?

    And over time the Trust's influence reduces to zero and along with it all of the current enshrined rights, meaning they're free to change kit, colours, stadium whatever

    Is the alternative even worse? Quite possibly. The fact is that we have been put in a position where it is going to be very difficult to vote against it simply because of the immediate danger the club would then be in. Maybe I was expecting a bit too much, but I at least expected a deal brokered by the supporters trust to ensure the long term survival of supporter representation at the club and long term protection of enshrined rights.

    Going to be a lot of people holding their noses and voting yes I should imagine.

  • I've felt the same @eric_plant I was hoping for "more" from the deal, but I guess in our position, and without including the stadium, could we really expect more?

    Am I correct in interpreting that the 2.2m to clear debts, etc. is an investment and not a loan? It's the 1m additional that we would have to pay back, correct? I agree that based on our current losses this surely isn't enough.

    The long-term protection of the enshrined rights is a worry, but if we sign away majority control of the club there are risks everywhere. It does feel like we have little choice, and from what we have seen so far we could do a lot worse than the Couhigs - I still think they'll breeze through the vote.

  • Whilst perhaps we could do a lot worse that Couhigs @chapmanio , what happens when they decide to sell up - as we have no say on who they sell to

  • That's how I read it, plus potentially a further Β£1M across 3 years

    Given that we were losing 700K a year before we signed all these new players, it's difficult to see that an extra Β£2.2M over the next 3 years is even going to touch the sides

    We're going to need to sell and awful lot of Cajun burgers

  • (the extra 200K is the working capital left over from the initial Β£2.2M investment)

  • @eric_plant said:

    Going to be a lot of people holding their noses and voting yes I should imagine.

    Pretty much sums it up for me.

  • in effect we will clear our current debts, retain ownership of the stadium and ground but then need to service 25% of a Β£1m loan over 3 years and if we cannot do this we dilute our shareholding as more money would be put in. Unless I have missed anything? From my point of view, is that a bad deal? Forget for a minute its a football club, your looking to buy a business but you will be a tenant paying rent to the landlord and the company looses money every year but you think you MIGHT be able to return to break even or at best return a small profit over a longer period of time and then sell on. Its a big gamble to pay this kind of money for a business loosing money.

  • @MindlessDrugHoover said:

    @eric_plant said:

    Going to be a lot of people holding their noses and voting yes I should imagine.

    Pretty much sums it up for me.

    And crossing everything, praying, hoping for the best. Not.nice. On the bright side where do I apply to join the Wycombe fan elite ?

  • @Wendoverman said:

    @MindlessDrugHoover said:

    @eric_plant said:

    Going to be a lot of people holding their noses and voting yes I should imagine.

    Pretty much sums it up for me.

    And crossing everything, praying, hoping for the best. Not.nice. On the bright side where do I apply to join the Wycombe fan elite ?

    You cannot apply, you have to be invited. But don't worry, they are watching you.

  • In the poignant, plaintive words of Diana Ross, I’m still waiting.

  • Diana Ross must be at least be behind you and the Fifth Doctor @micra

  • She’d better get a wriggle on, never mind the fifth doctor. Who he?

  • @micra said:
    She’d better get a wriggle on, never mind the fifth doctor. Who he?

    Colin Baker - Wycombe's second (possibly third these days?) most famous fan. BWK

  • Watch out @Malone . I’m on a roll.

  • Board members aren't the only people allowed to be critical. The Couhigs aren't the only people who have shown interest. Now we can move on.

    Is that right that all debts get paid and the trust target for fundraising not to dilute the shareholding is Β£250k over 3 years? That doesn't sound too unrealistic. I'd like to hear more about meeting unforseen (or not realistically expected) losses going forward. Should we suddenly sell a player for millions and we hit profits I take it the trust get our 25%.

  • LX1LX1
    edited October 15

    @MindlessDrugHoover said:

    @Wendoverman said:

    @MindlessDrugHoover said:

    @eric_plant said:

    Going to be a lot of people holding their noses and voting yes I should imagine.

    Pretty much sums it up for me.

    And crossing everything, praying, hoping for the best. Not.nice. On the bright side where do I apply to join the Wycombe fan elite ?

    You cannot apply, you have to be invited. But don't worry, they are watching you.

    As a former tractor enthusiast, I'm surprised I have not been approached.

    Extractor fans are surely the crème de la crème of fans

  • @yorkyblue said:
    Will non Legacy Trust supporters get to read this proposal?

    I asked Matt Cecil about this and he said all Trust members can read the summary.

  • Judging by the posts on this page everything has now been said on the subject.

    Roll on the vote. I just need to decide yes or no

  • @Tom said:
    Whilst perhaps we could do a lot worse that Couhigs @chapmanio , what happens when they decide to sell up - as we have no say on who they sell to

    Exactly, it's one of the many risks of selling. The problem is it feels an even bigger risk to vote no and hope for something better (who knows, maybe we could still do better than the Couhigs? But that's another risk...).

    It does seem a big risk to the Couhigs as well, especially as they have increased the wage budget. It's a big ongoing loss to turnaround in a very short space of time without having to put in more money (i.e. more loans for us to eventually pay back).

    I was hoping to be blown away by the deal, but maybe that was naivety on my part.

    @eric_plant said:
    Going to be a lot of people holding their noses and voting yes I should imagine.

    That's pretty-much it.

  • I may be alone but I’ve been pretty muc blown away by the change from minor to major (apologies to Ella) over the past three months. I feel no need to hold my nose. Naivety perhaps?

  • Maybe muc blown away from my nose.

  • Interview with Trevor Stroud discussing the deal on Three Counties Sport
    https://www.bbc.co.uk/sounds/play/p07p30j3

    Starts at 17:00 ish mark

  • I guess/hope the idea is to loan as small an amount as possible whilst they increase revenue streams from elsewhere.

    This would back-up their intention to make us self-sufficient. It feels a big ask, but I would hope they feel confident of achieving that based on what they've learnt so far, and not just blind optimism/positivity.

  • so confirmed , any monies put in we would have to raise our 25% but in reality I think Rob would put the money in up front and we raise the money to pay this back over an agreed time. This is the price for a seat at the table to carry on having a say I guess, if not then he would end up over time owning all of the club.

  • @peterparrotface Thx. Yep, I thought that had been said - just worried that some hasty drafting might've left the door open (even if unintentionally) for a 'Cardiff City' situation, especially since the wording around the quarters was so precise.

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