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PatMan

By PatMan
in Ebbsfleet United Forum

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rsheard Newbie

rsheard

Posted
Posted
Originally Posted By: Stu M
This 'option to buy'.. forgive me as I know nowt about shares and how they work, but what if the other 49% want to hang on to theirs and don't feel like giving over 100%...?


I don't know, Stu M. The fine details of the agreement won't be released until after due diligence ends and the papers are signed. That supposedly will take approximately 6 more weeks.
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rsheard Newbie

rsheard

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Ted, it's a technicality perhaps, but the members charitable trust will own the club. The members each have one share of the trust. So in that regard they will "own" the club. It's just with a trust in between the individual members and the club. That's for both the club's protection and the members'.

 

I've heard a case made for owning 100% outright, and I've also heard a good case for sticking with 51% because the minority owner will end up putting up additional cash each year to retain his percentage. I'm no trust lawyer, but for me, simple is best. I would prefer 100% ownership if feasible. It sounds like the arrangement with EUFC is perfect, allowing MyFC to take a controlling interest, but with the option to purchase the rest in a few years at an already-agreed-upon fixed price. That leaves some of our initial capital available to use in the transfer market to try to enhance the club's promotion chances this year.

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PatMan Newbie

PatMan

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Originally Posted By: Ted Crilley
The members don't own anything. They simply pay £35 a year to pick the team!

Another thing you don't understand?


Taken DIRECTLY from the MyFC web-site...

"Own the Club, Pick the Team"

The clue here is in the first 3 words..

And I'm the one who doesn't understand? Please tell me you didn't pay £35, as you don't even know what you signed up for!

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Ted Crilley Newbie

Ted Crilley

Posted
Posted
Originally Posted By: PatMan
Originally Posted By: Ted Crilley
The members don't own anything. They simply pay £35 a year to pick the team!

Another thing you don't understand?


Taken DIRECTLY from the MyFC web-site...

"Own the Club, Pick the Team"

The clue here is in the first 3 words..

And I'm the one who doesn't understand? Please tell me you didn't pay £35, as you don't even know what you signed up for!



I suggest you read the faqs on the Myfc website.

You really don't understand.

Can't be bothered to explain anything to you. It takes too long for you to comprehend things.
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PatMan Newbie

PatMan

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Originally Posted By: Ted Crilley


I suggest you read the faqs on the Myfc website.

You really don't understand.

Can't be bothered to explain anything to you. It takes too long for you to comprehend things.


You got it in one! I dont understand - and your "I cant be bothered" attitude does you so proud.

Confused by your own websites hype?
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PatMan Newbie

PatMan

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Originally Posted By: Ted Crilley
No, it's very clear to me.

I pay £35 into the Ebbsfleet coffers, I own nothing and get no return on my money. I am not a shareholder.

Fine by me.


I apologise, I confused you with the majority of MyFC posters here today saying how its 'their' club, they 'OWN' 51% etc... Wonder where they got those ideas from?
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DA11 Newbie

DA11

Posted
Posted
Originally Posted By: Ted Crilley
No, it's very clear to me.

I pay £35 into the Ebbsfleet coffers, I own nothing and get no return on my money. I am not a shareholder.

Fine by me.


Ted,

Sorry for sounding thick but I hope as one of the owners of my beloved club you can answer me this. If you own nothing and get no return for your money, what have you invested 35 pound for?
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Grunthos Newbie

Grunthos

Posted
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Quote:
If you own nothing and get no return for your money, what have you invested 35 pound for?


The right to participate in the management of the club. It is not, in the strict sense of the word, an investment, any more than your season ticket is an investment. It's an expense.

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Kenny Newbie

Kenny

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Posted

You gain nothing in a physical or financial sense, no. But that doesn't mean you don't gain anything at all. I think a lot of people have signed up for MFC because they dislike the way football is moving, or has moved, and feel disenfranchised. And I suppose that - although it may seem ironic to an existing EUFC fan who feels the board have sold out for money - it represents a feeling that money talks too much. That there's no reason in the world that only the wealthy should be able to be involved at the higher levels of football management. I guess in a lot of ways it's kind of an idealistic commitment to football, except made concrete, with a chance to actually do something really great.

 

And no, I can't really call myself a fan today, in the traditional sense, anyway. I don't really know what I call myself right now because nothing like this has ever happened before.

 

But I hope I'll be able to call myself a fan soon.

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American FLEET FAN No1 Newbie

American FLEET FAN No1

Posted
Posted
Originally Posted By: DA11
Originally Posted By: American FLEET FAN No1
Good point DA11, do they have to pay admission as owners? The present board don't!


Of course they do because they actually own nothing. It's quite comical really. They actually do believe they own EUFC.


I would love to be a fly on the wall when the first "New Owner" asks for free admission............Andhear the reply of the turnstile operator! laugh

Paying to be a New Owner = 35 quid
Being told to fck off by turnstile operator = Priceless!
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