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Informative Articles on Ebbsfleet & MYFC

Bitch

By Bitch
in Ebbsfleet United Forum

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David Holden Newbie

David Holden

Posted
Posted
Originally Posted By: ihadadream
Originally Posted By: Bitch

If it ever comes to it, the only option should be for the Fleet Trust to be the beneficiary.


This is likely to happen, IF it ever comes to it.


That's a big assumption. My understanding is that the sale agreement included a clause that gives the previous owners first refusal on the shares, anything that the society may want to do with the shares is only relevent if the previous owners do want to take up their option.
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ihadadream Newbie

ihadadream

Posted
Posted
Originally Posted By: David Holden

That's a big assumption


Not really, it's been openly discussed at MyFC as the most viable solution, although granted it's by no means a done deal.

Originally Posted By: David Holden

My understanding is that the sale agreement included a clause that gives the previous owners first refusal on the shares, anything that the society may want to do with the shares is only relevent if the previous owners do want to take up their option.


I believe you're right. But do you honestly see the previous owners taking up this option?
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ihadadream Newbie

ihadadream

Posted
Posted
Originally Posted By: David Holden

Yes I do, I think that it's extremely likely.


Oh ok. I know they're still passionate about the club and still like to get involved, I just didn't think they were likely to want to carry the financial burden anymore. Have you spoke to them or is it just your thoughts?
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Big J R Newbie

Big J R

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I think David is possibly right.

 

Though, the problem might be current assets, and future cash-flow.

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MrMushroom Newbie

MrMushroom

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But could they afford to buy the shares? It would mean stumping up a heck of a lot of cash. The MYFC Society can only give their assets to another charitable institution, so they would have to sell the shares.

 

I could then be the case that, if the MYFC Society decides to dissolve itself, that cash is then transferred to the Fleet Trust making it extremely well off.

 

Cash strapped club and rich supporters trust - interesting scenario!

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David Holden Newbie

David Holden

Posted
Posted
Originally Posted By: MrMushroom
But could they afford to buy the shares? It would mean stumping up a heck of a lot of cash. The MYFC Society can only give their assets to another charitable institution, so they would have to sell the shares.


Firstly it would depend upon the terms of the sale agreement. Secondly, the previous owners have the cash that they have received in respect of the monies owing to them by the club, so yes they could afford to.
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Bitch Newbie

Bitch

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Posted
Originally Posted By: ihadadream


The operator is Brooks, but he has a duty as the operator to run the website and pay salaries to the Web Team. I know people insinuate that he does nothing but sit in his ivory tower counting his fortune, whilst simultaneously laughing at the society's misfortune. But I'm sure that's not the case. I wouldn't like to speculate on the costs attributable of being the operator, but he certainly isn't there to make a quick buck.



You put words into my mouth... I don't think that. Even after expenses are taken out, it is (i imagine) still a pretty penny. The 'Society' is 'not for profit'. But the set up still leaves scope for the Operator to make a lot of money.

It's in the Operators interest to make the project work. I don't think he is laughing at the Society's misfortune. He'll be desperately raking around for new members.

The false advertising of 'Own The Club - Pick The Team' still wrankles. I can't see it does MYFC any favours now.

What could be the new marketing catch phrase?

David Holden, excuse my ignorance, but who are the previous owners? Would it be good for the club for them to buy it back again?
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ihadadream Newbie

ihadadream

Posted
Posted
Originally Posted By: Bitch

You put words into my mouth... I don't think that. Even after expenses are taken out, it is (i imagine) still a pretty penny. The 'Society' is 'not for profit'. But the set up still leaves scope for the Operator to make a lot of money.

Sorry, that statement wasn't aimed directly at you, but that feeling remains a popular one amongst less informed observers. If there were many more members then yes perhaps there is the scope to make some money out of the project, but that seems barely relevant based upon the current level of renewals. People are generally more concerned with the level of power that the operator possesses rather than any profits he may or may not make.

Originally Posted By: Bitch

The false advertising of 'Own The Club - Pick The Team' still wrankles. I can't see it does MYFC any favours now.

Yes probably. Although I would suggest it's more misleading than false advertising. Under the current arrangement, it can still happen if the society want it.

Originally Posted By: Darter

I'm wondering why the front page (which prospective new members see) still says that they have 30,000 members. This is completely inaccurate now.

Yes, this needs to be changed.
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ihadadream Newbie

ihadadream

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Originally Posted By: apache

The club will need at least that to take it until the end of April, so any talk of being OK for this season is hopeful and for next season is total nonsense.

Hopeful, yes maybe. We will make it to the end of the season. No one is pretending that changes aren't needed for next season.
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Bitch Newbie

Bitch

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Total MyFC membership...

 

Feb 20 9136

Feb 20 9292 A few hours after midnight.

Feb 20 9473

Feb 21 9438

Feb 22 9473

Feb 23 9508

Feb 24 9511

Feb 25 9557

Feb 26 9625

 

http://www.freemyfc.com/phpBB3/viewtopic.php?f=3&t=556&start=60

 

P.S I won't bother pasting the latest BBC article. It's an inaccurate rehash - therefore totally uninformative.

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Bitch Newbie

Bitch

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Originally Posted By: David Holden
Originally Posted By: MrMushroom
But could they afford to buy the shares? It would mean stumping up a heck of a lot of cash. The MYFC Society can only give their assets to another charitable institution, so they would have to sell the shares.


Firstly it would depend upon the terms of the sale agreement. Secondly, the previous owners have the cash that they have received in respect of the monies owing to them by the club, so yes they could afford to.


Who are the previous owners? Do they still have anything to do, in any way, with Ebbsfleet FC/MYFC?
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apache Newbie

apache

Posted
Posted
Originally Posted By: Bitch
Originally Posted By: David Holden
Originally Posted By: MrMushroom
But could they afford to buy the shares? It would mean stumping up a heck of a lot of cash. The MYFC Society can only give their assets to another charitable institution, so they would have to sell the shares.


Firstly it would depend upon the terms of the sale agreement. Secondly, the previous owners have the cash that they have received in respect of the monies owing to them by the club, so yes they could afford to.


Who are the previous owners? Do they still have anything to do, in any way, with Ebbsfleet FC/MYFC?


The main previous owner was Brian Kilcullen. He still owns a significant proportion of EUFC B & C class shares, he is on the EUFC board, and also a director at Fleet Leisure and Fleet Group Developments, both worthless companies, majority owned by EUFC and receiving a potential
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apache Newbie

apache

Posted
Posted
Originally Posted By: MrMushroom
But could they afford to buy the shares? It would mean stumping up a heck of a lot of cash. The MYFC Society can only give their assets to another charitable institution, so they would have to sell the shares.

I could then be the case that, if the MYFC Society decides to dissolve itself, that cash is then transferred to the Fleet Trust making it extremely well off.

Cash strapped club and rich supporters trust - interesting scenario!


Why do you say that Mr Mushroom? The shares are only worth what somebody is prepared to pay for them. I would place that value to anyone other than Brooks as
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Bitch Newbie

Bitch

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Originally Posted By: apache

The main previous owner was Brian Kilcullen. He still owns a significant proportion of EUFC B & C class shares, he is on the EUFC board, and also a director at Fleet Leisure and Fleet Group Developments, both worthless companies, majority owned by EUFC and receiving a potential
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