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Debt or more Debt?

American FLEET FAN No1
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American FLEET FAN No1 Newbie

American FLEET FAN No1

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Taken from Myclubfc website!

 

Price

 

We have been able to structure a deal so that the up front payment is relatively small (to allow investment in the squad), with a further staged payment due 12 months after takeover. The club will also have a small amount of debt, which will need to be repaid or refinanced 3 years after takeover.

As I have said before, I haven't any business accumen, but refinancing to me means...Taking out another loan(usually at a higher interest rate(?)) to pay off a loan/ or debt, that you can't afford to pay in the first place? I bet the banks are queuing up for that one!

Three years after the takeover.............What happens if the Playboys are tired of their new toy and decide to move on......They leave the Club in debt, failing to complete one of their promises...To clear the Club of debt with the members subscriptions!

 

I'm sorry, I can't see any good coming of this, despite the miles and miles of(the same) dogma, that has been trotted out by "brainwashed" members, who seem to think Ebbsfleet United is the new Messiah!

 

If you disagree with them, or dare think for yourself..........forget it, you will be ridiculed!

 

 

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alholmes Newbie

alholmes

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Hi AFF

 

According to records at companies house Ebbsfleet were approx £350K in debt as at the year ending May 06.

 

My view on the statement is that it relates to the debt that is already owed by the club. (if the losses had continued for the last 16 months the postion could be worse) unless of course there would have been a reason for one off losses in that particular year that you can shed any light on??

 

I do find it strange that this debt is not being at least partially repaid out of the purchase fund but until anyone gets more information we can only speculate.

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American FLEET FAN No1 Newbie

American FLEET FAN No1

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Thanks for your reply................I might be 5,000 miles away,but I still think of it as my Club{as it was when I watched them for for 45 years), and like others, I am scared to death that it is being used as an experiment, by a load of numpties, who know nothing about the day to day running of a Football Club!

If you look at their constitution(If that's the word), it is full of empty promises, that the "Trust" could never possibly keep!

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alholmes Newbie

alholmes

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No problem AFF

 

Thankfully we are not all numpties.

 

The biggest problem with the idea is that it has never been done before. To a certain extent what you say is true. 99.5% of the members do know nothing about the running of a club and i very much doubt they will get much say now.

 

I cannot see myfc working in the way it has been sold. As i have said elsewhere i think the membership will be involved in large decisions ie. wage and transfer budgets but the existing staff are being retained and the myfc team seem to be employing the right people behind the scenes.

 

To a certain extent the membership are still very much in the dark, while lots has been debated on the myfc forums we have receved no clarificatoin on how anything will work. It really will be suck it and see for all affected parties.

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alholmes Newbie

alholmes

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and it is my belief that myfc will see a reduction in members once their intitial one year membership is finished and they have not got what they were promised.

 

This could actually be a good thing as long as the people in charge of the finances budget for this eventuality as it would leave a membership that is dedicated to the concept and level of control that they have received.

 

Having said that if results are positive on the pitch - which we ALL hope they will be - we may actually see a greater uptake in membership.

 

Out of interest AFF have you joined myfc or are you intending to?

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American FLEET FAN No1 Newbie

American FLEET FAN No1

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Originally Posted By: alholmes
and it is my belief that myfc will see a reduction in members once their intitial one year membership is finished and they have not got what they were promised.

This could actually be a good thing as long as the people in charge of the finances budget for this eventuality as it would leave a membership that is dedicated to the concept and level of control that they have received.

Having said that if results are positive on the pitch - which we ALL hope they will be - we may actually see a greater uptake in membership.

Out of interest AFF have you joined myfc or are you intending to?



In a word...NO!
If I thought this was going to be long term, for the good of the club, I would join in a heartbeat! But I don't. It is the nature of the beast, some people will get bored, some will awaken from their ego trips, to find they are realistically, getting nothing for their money. By then I am scared the Club will be beyond rescue!
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the7wolf Newbie

the7wolf

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Originally Posted By: American FLEET FAN No1
That could be the only thing we will ever agree about!
IF.........The 'plastic' fans actually ever buy one!


Well if only one in a hundred do then that will make a difference.

(And BTW, I was born in Bromley and my whole family are from there so technically it might not be local to me now but I can at least claim some relative closeness, 20 miles, for a part of my life.)
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rsheard Newbie

rsheard

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AFF, about the shirts. I think that's the ONE thing I can guarantee. The club would have sold hundreds? maybe more than a thousand? yesterday alone had there been any way to order them. There's no club shop link on the website (when it came back online last night I double-checked).

 

When and if you do decide to join us, AFF, I've got your first drink. In the meantime, we'll have to cheer the Fleet on from too far a distance.

 

Do you have any plans to attend matches this season? I hope to go in the Christmas to New Year week.

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PatMan Newbie

PatMan

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Originally Posted By: the7wolf
Originally Posted By: David Holden
I would have though that Bromley was your local club.


Well yeah, they would be but 18 miles down the road isn't stretching my geographical allegiance too far smile


They WOULD BE? Does that mean they are not currently? Why not? Why not bung them your £35?
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