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(08-02-2024, 06:28 PM)Severnside Wrote: Either the Chambers are very naive business people or AP and EM didn't disclose the debt it has to be one option or the other, unless some hidden debt occurred AFTER the take over of the football club.
What staggers me really is if the football side was a take over I can't understand quite how the ground owners can sack the apparent owners of the football side?
Seems to be a lot of smoke and mirrors around and I can see ONLY a complete take over of the club including ownership of the ground asset is the way forward, I'm not holding my breath on the sale in total.
We see many clubs in difficult positions with a different ground owner to football club owner, in fact too many to mention sadly.
As per my post at no point did the Chambers own the club or claim to own the club. They were appointed directors of a company purporting to be GCAFC, with an option to buy outright in future.
“There’s a mole. Right at the top of the circus. He’s been there for years.”
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Interesting stuff but the question remains/, will the club start next season debt free having apparently "cut back" this season, or will that be hanging over our heads in whichever division we play? Will next years season ticket be paying next year's players or last year's electricity bill?
(This post was last modified: 08-02-2024, 10:59 PM by
Mr.Magoo.)
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The major debt would be the ground build which I'm sure Alex said was originally funded by Directors loans. If those still sit on the clubs balance sheet then it won't look an overly rosey investment position. However, I think he also spoke about converting said loans to share capital, which would erase much of that debt.
The last publicly available accounts shows creditors of about £1.3m, but they run to June 22. What the current position is would require someone more in the know.
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Didn't Alex post something a while back criticising people who were telling him how to spend his money? I know there's the old football phrase about the Chairman getting his cheque book out when fans wanted players to sign but I don't understand how people can come on here telling someone else how to spend their money.