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Due diligence process now complete...

WebEd

By WebEd
in Ebbsfleet United Forum

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Stu M Newbie

Stu M

Posted
Posted
Originally Posted By: Graham S
BTW, pleased to see our site broke the news 1st. They know on the MyFC forum, but our site is the source.


I see one fella has stamped his foot that it wasn't on MyFC's site first. Some people would complain about anything!
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Coldplayer Newbie

Coldplayer

Posted
Posted
Originally Posted By: Stu M
Originally Posted By: Graham S
BTW, pleased to see our site broke the news 1st. They know on the MyFC forum, but our site is the source.


I see one fella has stamped his foot that it wasn't on MyFC's site first. Some people would complain about anything!


That would be me :-)

I have no problem that your site broke it first but I do have a problem with the lack of communication between MYFC and the MYFC Members, something which has been discussed at length and something a lot of people agree with.

There is still nothing on MYFC offically to say that we have completed DD.

Hello btw from another MYFC member smile
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doheochai Newbie

doheochai

Posted
Posted

Just to keep people up to date -

 

Will Brooks has posted this on the MyFC forum -

 

"everyone on here knows that the deal has been agreed already. I don't think it says anything of great substance or surprise. You'll be the first, along with other members, to get the full picture. And probably before your lunch, unless of course you have already eaten"

 

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doheochai Newbie

doheochai

Posted
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I would expect a lot of people will divert here.

 

Will give some brief details from what I can remember -

 

MyFC will purchase 75% of EUFC for £635,000 (I think) which will be payable over 2 years (£400,000 in the first year).

 

This will be for the club and does not include Fleet Leisure or Fleet Developments (company dealing with new stadium)

 

New share will be issued -

MyFC will control all A shares

 

Existing shareholders will hold B&C shares which will control Fleet Leisure and Developemts

 

EUFC will pay Fleet Leisure £48,000 per year rent for training ground

 

EUFC will pay Developments up to £40,000 per year consultancy fees for work on stadium development.

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Graham S Newbie

Graham S

Posted
Posted

If you cannot view the link posted above (if at work it may be blocked as "chat") here is an extract people may find interesting:

 

"Assuming members agree to buy Ebbsfleet United, members also need to decide whether to enable Liam Daish to complete activity he has planned during the January transfer window. It's possible that Liam will want to secure a number of the current players on longer contracts. He may also wish to bring in a couple of fresh faces (that he and his scouts have been looking at during the first half of the season). The second vote allows Liam to do this.

 

We feel that it's important that Liam receives members' support, because he himself has been very supportive of the members and MyFootballClub during the period up to takeover. He has also been doing a great job with the team currently sitting just outside the play-off places. We therefore think that members should back him to carry out this relatively limited transfer activity in January. Going forward, the process will obviously evolve, and members will be more involved in decisions relating to transfers and players.

 

In terms of the team selection process, this will take place after members have had the opportunity to familiarise themselves with the squad. To make this possible, the site will carry free match highlights (including key passages of play and individual player highlights) and in-depth player statistic and analysis. We anticipate the first team selection will take place in March 2008.

 

In February and March 2008, we aim to start the process of electing the Society Board.

 

We will also need to employ a Chief Executive for the football club. Again, members will have the final say on who is appointed - there will be an application and interview process, following which members will be presented with a shortlist of candidates, and asked to vote on which one should be employed by the Club. There will also be an advisory committee, made up of past directors of the Club (to provide continuity). The composition of the advisory committee can change over time, and will be controlled by the Chief Executive and the A shareholders.

 

As part of the takeover, it is proposed that Jason Botley stands down as Chairman, and that Brian Kilcullen takes over as interim Chairman. Jason will continue to be on hand, however, Brian will perform many of the tasks associated with a Chief Executive role. Brian has had more involvement with running the club recently, and will continue to run it on a day to day basis, until a new Chief Executive is found (see above).

 

We will also replace the Chairman, as and when a new Chairman is identified.

 

 

Liam and his assistant's contracts are being extended by a year, to the end of the 2008/9 season, as part of the deal."

 

There is other interesting stuff re share allocation, extent of debt etc. If anybody cannot get at the full article & would like specific areas pasted on here, let me know.

 

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DA11 Newbie

DA11

Posted
Posted
Originally Posted By: doheochai
Originally Posted By: DA11
Now let the fake club vote take place. Just bypass this stage and get on with things. It makes no difference.

Oh - the cynic in you


I take it from that reply you agree with me. Let's get this show on the road. These are for you Doheochai.

cuddle dance
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