Questions for the board

[toddybad]

Originally Posted By: low_key

Originally Posted By: OKUZ

1. Exactly how much is to be invested? The press release seems to infer £700,000, but as we all know 20,000 members at £27.50 a time is only £550,000. What happens if the costs of the takeover exceed the reserve, does that come out of the investment of will the MyFC members be asked to stump up the difference.

Subscriptions are not the only source of income as mfc are also selling t-shirts, polo shirts, coats and hoodies ect. Dont know how much cash this has generated and i dont need to know, all i do know is we are giving it all to ebbsfleet united and we dont want any of it back. cmon the fleet we are all in this together now no bickering and all muck in, we are not your opponents x x x

A good point. Yes around £550k has been generated through the 20k members but we also forget the tie in with EA Games who will surely be bringing some money to the table if they already haven't, the new members who have joined through the rather shrewd PR campaign since Monday's announcement, not to mention the myriad of new sponsors who will be clamouring for any advertising space the club now has to offer, meaning space will be at a premium meaning EUFC can charge more!

The £700,000 fund promoted is a figure that we passed a few weeks ago. This is the PURCHASE fund. As such it is the sum of the £27.50's not the £35's. I think the national media just failed to put two and two together. With this in mind, and the fact scores of people joined on announcement day, I wouldn't be surprised if we had 30,000+ members (and remember that from the point of view of negotiating a price we wouldn't actually want the REAL amount of money disclosed as it may increase cost so it could be even higher.)

[waggamick]

I'm a member of MyFootballClub.

I'm also a member of the Western Bulldogs Australian Rules Football Club.

Mr.X and Mr.Y don't own 80-90% of the Western Bulldogs.

Nobody 'owns' the Bulldogs.

35000 of us pay our annual dues to support 'our' club.

 

I don't condone the lack of consultation by the Board as far as the MFC takeover is concerned....but....

 

How did you reach the point where two people 'owned' 80-90% of your club?

Even if you bought some of the other 20% of shares you still gave up control to TWO people.

It wasn't (in the material sense) your club.

I know that you have followed the club for decades and in that sense it is 'your' club.....but.....

Once the Full sale of EUFC goes through you can pay the 35 quid and it really will be your/our club.

[Alan ( GNFC )]

'I know that you have followed the club for decades and in that sense it is 'your' club.....but.....

Once the Full sale of EUFC goes through you can pay the 35 quid and it really will be your/our club'

 

Erm Woggamick, I'm sure that the £27.50 is still a drop in the ocean compared with various persons share holdings, irrespective of what the shares may be valued at.

 

However remember: large share holding equals zero consultation;

£27.50 equals consultation - I still cant grasp it.

 

[Riverview Red]

All very intriguing, bizarre and possibly incorrect !

 

As an actual share holder (with shares worth very much more than £35 even after the shadey de-valuing operation of a while ago), I find it very odd that someone who spends £35 on a web site subscription can have a say in the running of the club but I can not.

 

I am currently having the whole share de-valuing move and this latest charade by the Board looked into by some lawyers who specialize in this type of Corporate mullarky

 

Watch this space

 

 

[American FLEET FAN No1]

I love the arrtogance of this.........I have invested 35(27.50actually)quid in Ebbsfleet.........Alan, Riverview, how much do you think we have spent at the Fleet down the years? I know I have spent more than 27.50 in one day!

[David Holden]

I know we usually differ on most things but I agree that this whole scheme is a sick joke.

 

But I can assure you that there was nothing illegal about the reduction in the share capital. All that happened was that the nominal value of the shares was reduced from 25p to 5p. The shares remained worth opn the open market exactly the same as they were before. (probably nothing) and everybody had exactly the same number of shares as they had before.

 

If you do a search at companies house. (It will cost you £5.00 which is a lot less than a lawyer) you will see all of the paperwork properly filed.

 

[Riverview Red]

It will be interesting to see if any of the new "owners/fans" actually come to home games ?

 

I wonder how many live within sensible traveling distance of the place now known as Ebbsfleet (previously known as overgrown chalk pit)

[Newark Colin (BAFC)]

The bus graveyard might scare them off.

[Jeff]

Just wait until they have tasted the chips!

[Newark Colin (BAFC)]

I've never had a problem with the chips there, perhaps that's the wonder of booze.

[Keith D]

As a member of My football club since first week. I just want to address David question on our financial status. Yes as at date of announcement only 20,000 giving us 550,000. We have also sold some tops and mugs which I do not think brought in a large amount. Key however is sponsorship, you will not read this on website as its too old but months ago EA Sports and another sports company can involved and promised us a large sum of money all of which is going to the Fleet. We will find out exact numbers on these once takeover is complete. The intention from the start of MYFC was to inject 1-2 million ponds into a club every year and see it grow with us as the board and more interesting the manager. Another bonus we hoped with all the hype as we moved up into the league proper more and more numbers will join and start going to games increasing the contribution to the club even bigger. Also please note MYFC is a trust and so even if the Fleet makes it to Europe no one will ever make a profit. If in the future the club is sold all that money goes to charity, but it will never come to that as we are here long term.

[Jeff]

Dunno about the food in the away end obviously but the chips from the home sometimes jump up and try to attack you.

 

Am hating being back in the office having to do 'proper' work :-(

[Mackster]

Originally Posted By: Keith D

and so even if the Fleet makes it to Europe

Is there going to be a war?

[American FLEET FAN No1]

No.!!!!!.......You forget who their big sponsor is.......Away day tickets to Paris............If the Froggies aren't on strike.

[kaizen]

Originally Posted By: Keith D

As a member of My football club since first week. I just want to address David question on our financial status. Yes as at date of announcement only 20,000 giving us 550,000. We have also sold some tops and mugs which I do not think brought in a large amount. Key however is sponsorship, you will not read this on website as its too old but months ago EA Sports and another sports company can involved and promised us a large sum of money all of which is going to the Fleet. We will find out exact numbers on these once takeover is complete. The intention from the start of MYFC was to inject 1-2 million ponds into a club every year and see it grow with us as the board and more interesting the manager. Another bonus we hoped with all the hype as we moved up into the league proper more and more numbers will join and start going to games increasing the contribution to the club even bigger. Also please note MYFC is a trust and so even if the Fleet makes it to Europe no one will ever make a profit. If in the future the club is sold all that money goes to charity, but it will never come to that as we are here long term.

Well, if they're going to inject 1-2 million ponds into the club, that'll certainly make us a big fish!!

[waggamick]

Originally Posted By: Riverview Red

All very intriguing, bizarre and possibly incorrect !

As an actual share holder (with shares worth very much more than £35 even after the shadey de-valuing operation of a while ago), I find it very odd that someone who spends £35 on a web site subscription can have a say in the running of the club but I can not.

I am currently having the whole share de-valuing move and this latest charade by the Board looked into by some lawyers who specialize in this type of Corporate mullarky

Watch this space

RiverviewRed,
When you bought the shares,,what was your motivation?
Was it a financial investment seeking a profitable return?
Was it an emotional contribution hoping to see the club survive/prosper?
(I've done the latter with Wagga City Rugby Club when it was struggling...we called them debentures..nobody made a profit...club survived)
Or was it both?
Hopefully the full sale will go through and you will benefit on all counts.
Take the shares pay out...join MFC (by the way...my first post on the MFC site was to encourage the organisers to give free MFC membership to current season ticket holders/ share holders on a pro rata basis...3 years season ticket holder...3 years free membership......might pay to get your Board to add that to negotiations) and know that 25000 people care enough about EUFC's future to chance 35 quid a season.
I can only see you and the club coming out as winners.

[waggamick]

Originally Posted By: American FLEET FAN No1

I love the arrtogance of this.........I have invested 35(27.50actually)quid in Ebbsfleet.........Alan, Riverview, how much do you think we have spent at the Fleet down the years? I know I have spent more than 27.50 in one day!

In all seriousness I applaud your loyalty down the years.
At the same time wouldn't it be tragic to see all of that finacial and emotional investment go down the drain as financial pressures see EUFC clinging on from year to year.
Mid-table...bottom of the Table...relegation.
Local community expands...real estate prices rise..goodbye Ebbsfleet United...hello Ebbsfleet Towers.

[American FLEET FAN No1]

This is what you don't seem to be able to understand...........The club has been in financial trouble many, and I mean many times before! they take their medicine, get relegated, and cut their coat to suit the cloth!

They are presently higher than they had ever been before..............Nobody cared about us when we were near the bottom of the league.....Get near the Playoff places, then 20,000(give me proof of these numbers!) people want to buy into that success.

 

Just a quick question Mick............How long before you think Ebbsfleet will make it to the Premiership?

Wasn't that one of the promises projections?

[Leroix]

It pains me to repeat information that has been posted in so many places, but it seems necessary with you. The board of EUFC was one of 9 teams that APPROACHED MyFC. I assume that the board would not put up with your sarcastic banter, so you have chosen the MyFC members as an outlet of your negativism. I hope the team wins inpite of you.

[waggamick]

Fleet Fan #1,

Anything under 12 years would be optimistic.

I'm 53...so I'll celebrate my 65th birthday as EUFC take on Scunthorpe United at the Fleet Dome...weighing heavily on my mind at the time will be whether Enfield Town will win that day and see themselves in the Top 4 of the BlueSquare Premier League!

Rather than taking the medicine I would hope we would be the ones dishing it out.

Just a quick one...are either of the big 2 shareholders into land/housing/retail development?