Fleet Trust have spoken...

[Urchins]

Originally Posted By: doheochai

Originally Posted By: Urchins

Originally Posted By: doheochai

In the long term this could swell the ranks of the ST leading to a situation where they might be in a position to purchase the club from MyFC (in the event that MyFC sold the club).

Who ends up with the money if this happens ?

Because of the rules of MyFc the members cannot make any profit from the sale of a club. Any income received from the sale of the club would be donated to charity. I, along with a substantial number of other members on the MyFC forum, support the idea of giving first refusal to the supporters trust to purchase the club for a nominal price, and, if it is possible, to write this into the agreement for the purchase of EUFC I would fully support this.

OK, so if you buy the club for £700k and sell it for £800k, does £100k (i.e. the profit) go to charity or the whole £800k. ? If the former, where does the original £700k end up ?

[doheochai]

Originally Posted By: Urchins

OK, so if you buy the club for £700k and sell it for £800k, does £100k (i.e. the profit) go to charity or the whole £800k. ? If the former, where does the original £700k end up ?

The whole £800,000

[Urchins]

Originally Posted By: doheochai

Originally Posted By: Urchins

OK, so if you buy the club for £700k and sell it for £800k, does £100k (i.e. the profit) go to charity or the whole £800k. ? If the former, where does the original £700k end up ?

The whole £800,000

Sorry, one more. What about any bank account surplus ?

[doheochai]

Originally Posted By: Urchins

Sorry, one more. What about any bank account surplus ?

Any money held by MyFC or raised from the sale of a club would be distributed to a charity. MyFC is a provident society and as such none of the members can make any profit from its activities.

[Slartibartfast]

Originally Posted By: Urchins

OK, so if you buy the club for £700k and sell it for £800k, does £100k (i.e. the profit) go to charity or the whole £800k. ? If the former, where does the original £700k end up ?

Sell it for £800k

Who the feck would buy it?????????

[Uncle Urchin]

Originally Posted By: doheochai

The whole £800,000

ha ha.....I have kept this one for future reference...

next question wanchai.....does the eventual sale of the club and the handing back of the sale price to the trust also include the gateway property development proceeds....?

[American FLEET FAN No1]

Originally Posted By: doheochai

Originally Posted By: Urchins

Originally Posted By: doheochai

In the long term this could swell the ranks of the ST leading to a situation where they might be in a position to purchase the club from MyFC (in the event that MyFC sold the club).

Who ends up with the money if this happens ?

Because of the rules of MyFc the members cannot make any profit from the sale of a club. Any income received from the sale of the club would be donated to charity. I, along with a substantial number of other members on the MyFC forum, support the idea of giving first refusal to the supporters trust to purchase the club for a nominal price, and, if it is possible, to write this into the agreement for the purchase of EUFC I would fully support this.

Would you care to give a number..........Or is this another of your self gratiating b/sh!t, it would have to be the MAJORITY of 20,000 members! Are you now claiming you are in the majority?