The MyFC Vote

[PatMan]

Just looked at the MyFC website - and Ebbsfleet were second in their league of target clubs... Did anyone here vote for this? Bearing in mind Leeds were top, and Nottm Forest 3rd - thats a huge amount of votes cast for Fleet...

 

[American FLEET FAN No1]

They Fleet have moved up steadily during the day...........Since the takeover was announced...........I find that strange!!!!!!

[Roger Kint]

I think that's only happened today - last week EUFC had hardly been mentioned!

[PatMan]

Originally Posted By: American FLEET FAN No1

They Fleet have moved up steadily during the day...........Since the takeover was announced...........I find that strange!!!!!!

Hmm, curioser and curioser...

[1 F in Fleet]

If you've looked really closely at the MYFC site we didn't enter the league fray in terms of popularity until VERY late ...which makes me wonder HOW WE GOT MENTIONED AT ALL . OK , our board approached them ... and it's MYFC's board level decision to "buy" EUFC ... but is there a more sinister motive ? Their site says an awful lot about the area here - the intl station , the new housing numbers , the superb rail and road links - all of which will earn a big business big money if it taps in at the right time . So they simply hand over that money to the good burghers at EUFC , walk away smiling and say there you go , get on with it ? WE ARE SELLING THIS CLUB LOCK , STOCK AND BARREL - BELIEVE IT .

 

[Harry J Allstars]

Originally Posted By: 1 F in Fleet

OK , our board approached them ... and it's MYFC's board level decision to "buy" EUFC ... but is there a more sinister motive ?

Where did you read that?

[toddybad]

From a MyFC member:

 

Ebbsfleet were not in the league table (top 20) ever as far as I'd ever noticed. The table was never very realistic as many members haven't used the forums or altered their votes. The purchase team were set the task of finding a club that matched with MyFC and gave the best chance of success. It was hoped that they would find somebody in the table but we were all aware this might not happen (especially as votes for leeds, forest, and utd skewed things rather).

 

The final say will go to the MyFC membership who will be given the details and asked to vote yes or no. I would expect a yes. If the Ebbsfleet shareholders agree then presumably we have got the club - or 51% over 2 years with the opportunity to purchase the rest.

 

1 thing i would say is that far from selling you down the river your chairman seems to have accepted less up front in order to allow MyFC to pump extra into the transfer litty therefore giving up cash now in order to help the club out - rather noble in my opinion compared to what you msee at a lot of clubs.

[BustaGut]

Originally Posted By: Harry J Allstars

Originally Posted By: 1 F in Fleet

OK , our board approached them ... and it's MYFC's board level decision to "buy" EUFC ... but is there a more sinister motive ?

Where did you read that?

Can MyFC Ltd make a profit out of this venture?
MyFC Ltd, as a separate for-profit organisation, will be entitled to make a profit to spend in accordance with the wishes of the directors of that company

They say that on there FAQ board

[DA11]

Originally Posted By: Harry J Allstars

Originally Posted By: 1 F in Fleet

OK , our board approached them ... and it's MYFC's board level decision to "buy" EUFC ... but is there a more sinister motive ?

Where did you read that?

Quote from Jason on bbc, H

[Nobster86]

Originally Posted By: BustaGut

Can MyFC Ltd make a profit out of this venture?
MyFC Ltd, as a separate for-profit organisation, will be entitled to make a profit to spend in accordance with the wishes of the directors of that company

They say that on there FAQ board

I have just gone through the FAQ with a fine toothcomb and cannot see any wording as quoted above, however with £7.50 of every £35.00 going to MYFC Ltd to run the website and Administer the Trust it would stand to reason that a profit could be made.

However, and this is the beauty of the MYFC model, company accounts are public information and I would have no doubt that should MYFC Ltd start making ludicrous profits at the expense of the club and the members, that the members would put a stop to it by voting to reduce the percentage available to MYFC.

You need to be aware that the theory behind the MYFC model is that everything is transparent.

[BustaGut]

Originally Posted By: Nobster86

Originally Posted By: BustaGut

Can MyFC Ltd make a profit out of this venture?
MyFC Ltd, as a separate for-profit organisation, will be entitled to make a profit to spend in accordance with the wishes of the directors of that company

They say that on there FAQ board

I have just gone through the FAQ with a fine toothcomb and cannot see any wording as quoted above, however with £7.50 of every £35.00 going to MYFC Ltd to run the website and Administer the Trust it would stand to reason that a profit could be made.

However, and this is the beauty of the MYFC model, company accounts are public information and I would have no doubt that should MYFC Ltd start making ludicrous profits at the expense of the club and the members, that the members would put a stop to it by voting to reduce the percentage available to MYFC.

You need to be aware that the theory behind the MYFC model is that everything is transparent.

2 MyFootballClub structure questions
2.1 Are we shareholders or members?
2.2 What are we members of?
2.3 When does membership begin?
2.4 Who is My Football Club Ltd?
2.5 Who are the various people working on MyFootballClub?
2.6 I keep seeing references to the "Operator". Who is that?
2.7 What is the £7.50 admin fee spent on?
2.8 Can MyFC Ltd make a profit out of this venture?
2.8.1 Is that fair? I thought this was "for the good of football"?
2.8.2 Can their income and expenditure be scrutinised?
2.8.3 Have they made a profit?
2.8.4 Can the members make a profit? Can members take a loss?
3 Club questions

suggest you get a better comb try
2.8
not that it matters

[rsheard]

Originally Posted By: BustaGut

Originally Posted By: Nobster86

Originally Posted By: BustaGut

Can MyFC Ltd make a profit out of this venture?
MyFC Ltd, as a separate for-profit organisation, will be entitled to make a profit to spend in accordance with the wishes of the directors of that company

They say that on there FAQ board

I have just gone through the FAQ with a fine toothcomb and cannot see any wording as quoted above, however with £7.50 of every £35.00 going to MYFC Ltd to run the website and Administer the Trust it would stand to reason that a profit could be made.

However, and this is the beauty of the MYFC model, company accounts are public information and I would have no doubt that should MYFC Ltd start making ludicrous profits at the expense of the club and the members, that the members would put a stop to it by voting to reduce the percentage available to MYFC.

You need to be aware that the theory behind the MYFC model is that everything is transparent.

2 MyFootballClub structure questions
2.1 Are we shareholders or members?

We are members of MyFootballClub.co.uk. We are shareholders of an ISP that will own the club.

2.2 What are we members of?
A charitable trust that owns the club and we have membership privileges on the MyFC website.

2.3 When does membership begin?

From the date the deal is signed.

2.4 Who is My Football Club Ltd?
The owners and operator of the MyFC website. They do NOT own the club.

2.5 Who are the various people working on MyFootballClub?
Several web staff, media people, and there's a legal team handling the purchase.

2.6 I keep seeing references to the "Operator". Who is that?
That's MyFC Ltd. They own the site.

2.7 What is the £7.50 admin fee spent on?
Everything that keeps MyFC Ltd. going. Site admin, legal fees to set up the trusts, salaries at some point, etc.

2.8 Can MyFC Ltd make a profit out of this venture?
Yes, especially from advertising they can sell on the site.

2.8.1 Is that fair? I thought this was "for the good of football"?
MyFC Ltd. is separate from MyFC Trust. The trust owns the club and its finances are separate from the Operator's. The trust is non-profit. The operator is not.

2.8.2 Can their income and expenditure be scrutinised?
That's one I can't answer. Don't know, but I'm sure someone with more accounting and legal backgrand than I have can answer it, or maybe it's even in the Terms and Conditions.

2.8.3 Have they made a profit?
Don't know...seriously doubt it considering the start-up costs.

2.8.4 Can the members make a profit? Can members take a loss?

No, we can not take a personal loss or profit in any way.

3 Club questions

suggest you get a better comb try
2.8
not that it matters

Some of these may be answered more fully in the Terms and Conditions:
http://members.myfootballclub.co.uk/tandcs.php

but I'll do a quick run-down here:

[American FLEET FAN No1]

If you want to know how much Myclub Ltd stand to make out of this............Just add up the "administrative costs"

20,000, the supposed number of members, 30,00o, the hoped number of members, 100,000 the projected number of members, multiplied by 7.50 quid...............Not a bad income, is it?

[Dewsbury SAFC]

"2.3 When does membership begin?

 

From the date the deal is signed. "

 

Really? So none of you are actually members of the Industrial & Provident Society yet? Wow, if that is true, that is extremely worrying. That means that there is an IPS out there with 3 members (Will Brooks + 2 others presumably), controlled by an unelected board (Will Brooks + 2 others presumably) that is about to buy a football club with £700k of your money.