Jeff needs £600k.................now

bresslaw · **Joined:** Sat Aug 19, 2006 10:45 am **Posts:** 2411

'It is clear Blackledge is the problem and he will keep the club on life support while the fans pay the bills for him'

Somebody should point that out.....................

Snowy · **Joined:** Fri Aug 18, 2006 12:18 pm **Posts:** 37383

TURN THE TAP OFF!!!! banghead

Monkeybutt · **Joined:** Sun Jan 21, 2018 6:22 pm **Posts:** 2428

Trust Update Statement 1 March 2018

We have now received a 36 page report from Nick Igoe following his comprehensive review of the clubs books. We have also received a verbal run through of that report from Nick and James Mathie of Supporters Direct.

There are 4 potential outcomes for the club :

· An individual buyer is found

· A Consortium buys the Club

· The Club enters Administration and a buyer is found

· The Club enters Administration, a buyer is not found, and the club is liquidated and a Phoenix Club needs to be formed

The current situation at the club is critical and, as Pam Duxbury was quoted as saying in today’s Hartlepool Mail, Administration is a very real possibility. Having reviewed all of the options and financial consequences, we believe our best course of action as a Trust is to try and join forces with like-minded individuals as a Consortium.

To that end we will be urgently speaking to other potential investors . We will also be speaking again to Geoff Cunningham who is handling the sale for Sage Investments, the club’s owner.

While these discussions are taking place we hope that the owner will provide financial support to the club to avoid the risk of Administration, an outcome which would be hugely detrimental to the club, supporters, and all stakeholders.

If we can enter into constructive negotiations with the owner, and are making progress with suitable investors that make a fundraise target from HUST realistic, we would be asking the club to relax the terms of the current Non-Disclosure Agreement to allow us to share appropriate information with Trust Members in support of a community share issue.

Mr Irrelevant · **Joined:** Thu Aug 17, 2006 8:25 pm **Posts:** 22663

Nothing new there, its still going bust or it’s bought by someone. A CSO is another mechanism for raisIng money, if that’s to buy the club then it’s a terrible idea as that money will go to Sage. If it’s for a new club then good.

congress_tart · **Posted:** Fri Mar 02, 2018 8:07 am

Mr Irrelevant wrote:

Nothing new there, its still going bust or it’s bought by someone. A CSO is another mechanism for raisIng money, if that’s to buy the club then it’s a terrible idea as that money will go to Sage. If it’s for a new club then good.

Is that based on principles?

Mr Irrelevant · **Joined:** Thu Aug 17, 2006 8:25 pm **Posts:** 22663

It’s based on not paying any more for sage and Coxall’s tenure.

dstanley · **Joined:** Wed Feb 22, 2012 4:15 pm **Posts:** 677

Let's face it. Noone is going to pay the full asking price when they know that the club can be picked up for a knocked down sum after administration so I doubt that the plea for £600,000 is serious.

Mr Irrelevant · **Joined:** Thu Aug 17, 2006 8:25 pm **Posts:** 22663

I'd also question why we are still talking about 1.8m with the season over in two months. Season ticket money will start to come in during July/July along with some prize money and parachute payments. The only answer is that the buyer is paying off Sage's losses and loans which have gone on chronic mismanagement.

Mr Irrelevant · **Joined:** Thu Aug 17, 2006 8:25 pm **Posts:** 22663

I don't think administration is enough. There are too many claims against the club going forward along with debts to Sage. Liquidation wipes them out and we'd fly back up the leagues given that we have a ground. Remember Darlo would be conference this season if it wasn't for ground standards and that was after five years of starting from scratch.

congress_tart · **Posted:** Fri Mar 02, 2018 10:01 am

I have mixed thoughts on this. Can totally get Mr I points as it does not make commercial sense nor does it feel the right tning to do to pay off his and others mistakes (and worse).

But at the same time it would feel a bit like cutting out nose off to spite our face. I get that the money used could be used for a new club instead that the fans are in control of, but if there is an option of fan representation and we remain in the same division then I think we need to explore that, albeit I would still say there has to be a compromise in how much that costs.

Splod · **Posted:** Fri Mar 02, 2018 10:15 am

The unknown in this seems to be the source and extent of the claims against the club. Who have significant claims against us other than Sage. Is it all legacy consultancy type contracts that Coxhall signed us up to before he left?

charco · **Joined:** Thu Jun 25, 2015 8:24 am **Posts:** 885

Mr Irrelevant wrote:

I don't think administration is enough. There are too many claims against the club going forward along with debts to Sage. Liquidation wipes them out and we'd fly back up the leagues given that we have a ground. Remember Darlo would be conference this season if it wasn't for ground standards and that was after five years of starting from scratch.

Good, sound, common sense...

Sussex UK · **Joined:** Wed Dec 28, 2016 10:34 pm **Posts:** 3548

charco wrote:

Mr Irrelevant wrote:

I don't think administration is enough. There are too many claims against the club going forward along with debts to Sage. Liquidation wipes them out and we'd fly back up the leagues given that we have a ground. Remember Darlo would be conference this season if it wasn't for ground standards and that was after five years of starting from scratch.

Good, sound, common sense...

Wipe the slate clean.Be your own boss. Fly up the leagues .It has to make sense.

ludo · **Joined:** Sat Apr 22, 2017 1:39 pm **Posts:** 32

I agree completely with mr irrelevant, for what its worth

Mr Irrelevant · **Joined:** Thu Aug 17, 2006 8:25 pm **Posts:** 22663

ludo wrote:

I agree completely with mr irrelevant, for what its worth

Clearly a man of singular judgement!

tREE_wiTH_hAMStER · **Joined:** Sat May 19, 2007 11:00 am **Posts:** 20758

ludo wrote:

I agree completely with mr irrelevant, for what its worth

Hey Ludo, I keep
Looking out for that horse but it’s not ran has it?

ludo · **Joined:** Sat Apr 22, 2017 1:39 pm **Posts:** 32

Was due to run at navan tomorrow but its off.... and now she's coughing.

kevin pooles gloves · **Joined:** Tue Oct 07, 2014 2:28 pm **Posts:** 9479

Liquidation will happen.
The owners are hell bent on it to hide there dodgyness.
They just playing a drawn out pisstaking game to string along only a small minorkty of our fans now who believe in fairytales.

Just a question of starting the new club off in Evo stik North or the Nkrthern league.
Anyway what will be be will be.
We will be playing from the Vic next season no matter what.

tREE_wiTH_hAMStER · **Joined:** Sat May 19, 2007 11:00 am **Posts:** 20758

ludo wrote:

Was due to run at navan tomorrow but its off.... and now she's coughing.

A girl like me? Didn’t see it when I looked at card or have I got name wrong?

ludo · **Joined:** Sat Apr 22, 2017 1:39 pm **Posts:** 32

No the name is correct. We'd been planning to enter and run but she started the sniffles after her final gallop so we pulled out even before the entries came up. We'll see what she's like over the next ffew days then come up with another plan. Horses!!!

ludo · **Joined:** Sat Apr 22, 2017 1:39 pm **Posts:** 32

No the name is correct. We'd been planning to enter and run but she started the sniffles after her final gallop so we pulled out even before the entries came up. We'll see what she's like over the next ffew days then come up with another plan. Horses!!!

pooliecrab · **Joined:** Tue Dec 16, 2014 9:31 pm **Posts:** 6028

Why the long face?

accrington fan · **Joined:** Wed Jan 20, 2016 3:22 pm **Posts:** 19656

Wipe the slate clean.Be your own boss. Fly up the leagues .It has to make sense.[/quote]
darlo, chester and halifax have all gone down this line and have risen through the leagues. it will happen to other clubs as well but there is no guarentee of everyone doing the same.

horden · **Posted:** Sat Mar 03, 2018 12:39 pm

accrington fan wrote:

Wipe the slate clean.Be your own boss. Fly up the leagues .It has to make sense.

darlo, chester and halifax have all gone down this line and have risen through the leagues. it will happen to other clubs as well but there is no guarentee of everyone doing the same.[/quote]

Start low enough and you will rise :laugh:

They have all hit the buffers though now, resting somewhere below what they used to call their rightful home ( the football league ).

Sussex UK · **Joined:** Wed Dec 28, 2016 10:34 pm **Posts:** 3548

horden wrote:

accrington fan wrote:

Wipe the slate clean.Be your own boss. Fly up the leagues .It has to make sense.

darlo, chester and halifax have all gone down this line and have risen through the leagues. it will happen to other clubs as well but there is no guarentee of everyone doing the same.

Start low enough and you will rise :laugh:

They have all hit the buffers though now, resting somewhere below what they used to call their rightful home ( the football league ).[/quote]

Damn,we rose through the leagues so quick they couldn't build a stadium fast enough to cope with it all

..Have you posted on the wrong forum Horden ?

Jeff needs £600k.................now

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