Question about DD

[doheochai]

Originally Posted By: DA11

But according to the poll EUFC are top of the wish list which means everyone would vote yes anyway.

The exact same thing happened when MyFC were approached by Halifax in September. The club shot up the 'wish list'. The 'wish list' isn't a vote - people have the option of changing their choice all the time and a large number of people actually picked 'don't mind as their choice - which it appears won't be an option on the vote for any purchase.

Originally Posted By: DA11

However looking at some of the feedback from Wills comments if he says jump most of the members would ask how high. It's a done deal no matter what the outcome of the vote.

I disagree - the members are appreciative of the work Will Brooks and the other members of the WebTeam have done over the past six months. But I think many will approach the vote the same way I will. I will read the DD report and the proposal for the purchase, I will ask questions if necessary and I will vote 'yes' if I feel it is a good deal for MyFC AND for the club.

[American FLEET FAN No1]

Originally Posted By: doheochai

Originally Posted By: DA11

But according to the poll EUFC are top of the wish list which means everyone would vote yes anyway.

The exact same thing happened when MyFC were approached by Halifax in September. The club shot up the 'wish list'. The 'wish list' isn't a vote - people have the option of changing their choice all the time and a large number of people actually picked 'don't mind as their choice - which it appears won't be an option on the vote for any purchase.

Originally Posted By: DA11

However looking at some of the feedback from Wills comments if he says jump most of the members would ask how high. It's a done deal no matter what the outcome of the vote.

I disagree - the members are appreciative of the work Will Brooks and the other members of the WebTeam have done over the past six months. But I think many will approach the vote the same way I will. I will read the DD report and the proposal for the purchase, I will ask questions if necessary and I will vote 'yes' if I feel it is a good deal for MyFC AND for the club.

Sorry, but I thought all approaches were kept secret................That's why Ebbsfleet didn't make No 1 .............until the day AFTER the takeover was announced?

[DA11]

I appreciate that but if the vote is no then the search is on again. A new club would be found and the DD happens again (more expense) how many times could this happen with the costs involved. IMHO it is a done deal. Will and the boys wouldn't jeopordise all their hard work on a vote.

[doheochai]

Originally Posted By: DA11

I appreciate that but if the vote is no then the search is on again. A new club would be found and the DD happens again (more expense) how many times could this happen with the costs involved. IMHO it is a done deal. Will and the boys wouldn't jeopordise all their hard work on a vote.

As I said in another post - the longer the process goes on the more likely I feel that the option of turning to another club is less of a possibility for many reasons including financial. MyFC will vote - I would expect it to be passed - but stranger things have happened. I would be confident that it will be a yes vote. I think this is the best option for both MyFC AND EUFC. But if I am not happy with the proposal that comes to a vote I will oppose it and I will campaign for a no vote among the membership. Irrespective of the consequesnces for MyFC if this is not right for BOTH MyFC and the club I will vote no.

[DA11]

Originally Posted By: doheochai

Originally Posted By: DA11

I appreciate that but if the vote is no then the search is on again. A new club would be found and the DD happens again (more expense) how many times could this happen with the costs involved. IMHO it is a done deal. Will and the boys wouldn't jeopordise all their hard work on a vote.

As I said in another post - the longer the process goes on the more likely I feel that the option of turning to another club is less of a possibility for many reasons including financial. MyFC will vote - I would expect it to be passed - but stranger things have happened. I would be confident that it will be a yes vote. I think this is the best option for both MyFC AND EUFC. But if I am not happy with the proposal that comes to a vote I will oppose it and I will campaign for a no vote among the membership. Irrespective of the consequesnces for MyFC if this is not right for BOTH MyFC and the club I will vote no.

Are the other members not capable of making their own minds up then. Why would you need to campaign. Would this be the ethos about picking the team as well.

[doheochai]

Originally Posted By: DA11

Are the other members not capable of making their own minds up then. Why would you need to campaign. Would this be the ethos about picking the team as well.

I am not in favour of the membership picking the team - I have argued my point of view - but it is going to happen - and I will participate. Picking the team is a very subjective thing.

However, making a decision on the future of a football club is not a subjective decision. If I firmly believe it is wrong then I will do my best to persuade others of this view. Similarly if I believe it is the right decision I will do exactly the same.

[Jeff]

Someone has said that they are gonig to punch me on there tonight after I queried his statement that the States won the second world war.

 

MyFC never fails to amuse me.

[Lord Hreo]

Originally Posted By: American FLEET FAN No1

Originally Posted By: DA11

Originally Posted By: doheochai

Originally Posted By: Harry J Allstars

I have no idea, I also don't know who is paying for it.

The legal fees for DD will come out of the money raised from MyFC membership fees i.e. the money available for the purchase of the club.

Originally Posted By: Harry J Allstars

It's an interesting one though, I believe no vote was taken on should they spend the money on DD, perhaps Will is paying?

The terms and conditions of MyFC actually outline that no vote was necessary to purchase a club. By signing up to membership, each member accepted that the entire process of purchasing the club, including spending on legal fees, could be conducted without a vote. This was because it was felt that some clubs would not agree to having the purchase put to a public vote of the membership of MyFC in case the vote rejected the purchase. The circumstances related to the possible takeover of EUFC, allowed for a vote of MyFC members to take place and this was accepted by the board of EUFC.

But once Will has all the legal stuff sorted why the need to vote?

Sorry.......Are we all missing something here?????????????
Wasn't one of their selling points...You will all decide which club to buy?
Another..........You will all get to pick your team?????

Another......You will get to chose the tactics????


Go back and check.......Hanoi Hannah has said in several posts.......This may not happen..........This is most unlikely to happen .........This will not happen!

Seek and you shall find...............That does not come from the MYfc Bible!

Are you sure ? I don't think so because a team selector in MyFC website is under construction and we have other tools too ... Liam was positively suprised about it ...

[Uncle Urchin]

 

Originally Posted By: Harry J Allstars

I'm not sure what "EUFCL" is but MyFC will not be buying Fleet Leisure, they're not in the market to buy a pub, just a football team.

 

Originally Posted By: chris blanc

[Doesn't it come as a package?

 

 

Originally Posted By: Harry J Allstars

Nope!

 

Originally Posted By: doheochai

This one we don't know - despite what Harry is saying (unless he has some insider knowledge that I and everyone else doesn't have). The DD report will indicate what is and is not included and how much it will cost.

 

great stuff and as usual very informative..

 

nice piece of real estate over at fleet leisure..very nice...

[Uncle Urchin]

Originally Posted By: chris blanc

Unless the place is knocked down and developed on

took you long enough....

[Santa]

surprised if the club or directors owns any of the land at FL.

[Slartibartfast]

Originally Posted By: Uncle Urchin

Originally Posted By: chris blanc

Unless the place is knocked down and developed on

took you long enough....

Except that the Council went into partnership with the Club at Fleet Leisure specifically to ensure that the land remained a green space and was not built on.

I can't see them allowing it to be built on just two years later, even if they did its in the middle of one of the worst council estates in Kent, who the hell would want to build anything there?

They could turn into a caravan site for Essex 'royalty' to spend their holidays I suppose but I can't see it being an all-year attraction.

[Uncle Urchin]

talking of legal/DD fees I can tell you this.....having bought and sold over 100 companies (inc football clubS) the time element on DD is 4 weeks max and the legal and accountancy fees on a company the size of ebbs should be no more than 35/40k...absolute max...

[Uncle Urchin]

Originally Posted By: Slartibartfast

Except that the Council went into partnership with the Club at Fleet Leisure specifically to ensure that the land remained a green space and was not built on.

oh...okay then...

[DA11]

Originally Posted By: Uncle Urchin

talking of legal/DD fees I can tell you this.....having bought and sold over 100 companies (inc football clubS) the time element on DD is 4 weeks max and the legal and accountancy fees on a company the size of ebbs should be no more than 35/40k...absolute max...

Cheers Unc.

[waggamick]

Just out of interest.

What are the occupations/interests of the currently two biggest shareholders in ETFC?

[Harry J Allstars]

They're pimps.

 

Also you know that thing in Europe that about 25 nations have signed up to and basically control's the continent, the European Union? Well imagine if they started a football team, their name would be European Union Football Club, their initials would be EUFC, lets use that when talking about Ebbsfleet, cheers.

[Bill Kent]

Will MYFC members be held reponsible for any future debts incurred while in ownership?

[Uncle Urchin]

Originally Posted By: Bill Kent

Will MYFC members be held reponsible for any future debts incurred while in ownership?

there is legislation that renders shareholders responsible for the debts of a limited company but they are complicated and hard to enforce....could happen tho' bill and then the 35 quids would seem very expensive as they all face a class case under the enterprise act....

but with the sort of money being talked of here being raised by members on an annual basis I doubt that anyone should worry too much about that side of things....7/800k a year could run a league outfit (so long as they all stay when they find out that they cannot pick the team)....

I think the real issue is to ensure that the members funds go to the club and not the real agenda here....redevelopment.....the so far suggested legal fees concern me greatly as there is no way in the world that the sums being bandied of 6 figures could have possibly been spent...it really is just not possible for the purchase of what in corporate terms is a corner shop type small business.......

planning and pre-development costs however are quite onerous I believe.......

[doheochai]

Originally Posted By: Bill Kent

Will MYFC members be held reponsible for any future debts incurred while in ownership?

The rules of MyFC prohibit it from incurring any debt for the club. In other words the club has to, at least, balance it's budget while MyFC are in ownership.