Guest Ogsowl Posted July 30, 2010 Share Posted July 30, 2010 (edited) Sorry - but that is completely wrong. I don't understand what you mean in "relative terms". The bank is owed 20m. The board about 1m. If we went into admin - simple terms, who loses most? Maybe you would argue their shares would be worth less (or worthless), but remember there is only 10% of shares on the board anyway. We might never pay the 20m back. So you have to ask yourself why the bank is backing people who might get them a percentage of that amount back. Is this what we have become? A club that will never grace the door of the Premiership for that one big 50m payout? The bank might think so, I rumbleing dream so, but with the people in charge now we are slipping down so far it will take a rumbleing Australian coal-mining mole to fish out our dregs. "However from the board's perspective, they also stand to lose out millions" - hahaha! They stand to lose 500k at the most. At the very most. We've had Deejayone come on here and say that one of the directors jobs is to represent Wednesday at away matches. What in the holy entire of flip is that? Millions? They don't know they are rumbleing born sat in their cushioned seats whilst us real fans lay down and watch OUR team get rumbleing trampled on by the likes of Barnsley and Sflaphorpe. Disaster? For people who have dropped this club to the very depths of my imagination. From a Premiership title contender into a League 1 club that can't rustle up 500k to pay the tax? Are you serious?! You are defending people, who in your own words, are not "big time businessmen". 10p in the pound is 12p more then that bunch of degenerates are worth. People on here slate C9S before they know anything they can do. We know what that shower of wankstains have done, yet still people say "better the devil you know". Asset stripping? Sell your best player to pay a fraction of the tax bill you cannot afford. Don't forget your court appointment in August. I don't even know what I'm arguing against on here now, just completley rumbleing gutted about our team, a laughing stock not only in Sheffield, but seeing us on the Sky Sports News banner as it slips across my eyes that we have received a winding up order is the lowest point as a Wednesday fan I've ever had, and there's a lot to choose from. I will still be there however next Saturday, like a midge attracted to an electric light. It's not good for me, or any of us, but one thing I do know is that if it carries on as we are, we'll be lucky to have a club to support next season. Well said FG! UTO! Edited July 30, 2010 by Ogsowl Link to comment Share on other sites More sharing options...
TheBoyBeevers Posted July 30, 2010 Share Posted July 30, 2010 (edited) Sorry - but that is completely wrong. I don't understand what you mean in "relative terms". The bank is owed 20m. The board about 1m. If we went into admin - simple terms, who loses most? Maybe you would argue their shares would be worth less (or worthless), but remember there is only 10% of shares on the board anyway. If a homeless and penniless man loses 50p, and a millionaire loses a quid, the second man has lost more in simple terms, but in relative terms, it is clearly the penniless man who has lost the most. We might never pay the 20m back. So you have to ask yourself why the bank is backing people who might get them a percentage of that amount back. Is this what we have become? A club that will never grace the door of the Premiership for that one big 50m payout? The bank might think so, I rumbleing dream so, but with the people in charge now we are slipping down so far it will take a rumbleing Australian coal-mining mole to fish out our dregs. "However from the board's perspective, they also stand to lose out millions" - hahaha! They stand to lose 500k at the most. At the very most. We've had Deejayone come on here and say that one of the directors jobs is to represent Wednesday at away matches. What in the holy entire of flip is that? Millions? They don't know they are rumbleing born sat in their cushioned seats whilst us real fans lay down and watch OUR team get rumbleing trampled on by the likes of Barnsley and Sflaphorpe. My link We owe Cooke, Hulley and Grierson a significant amount of money, and masses of interest which they'd lose out on as well should we go into admin. That isn't taking into account their shares (i believe that Hulley is the largest single shareholder in SWFC?) They have more money in the club than you would think. Disaster? For people who have dropped this club to the very depths of my imagination. From a Premiership title contender into a League 1 club that can't rustle up 500k to pay the tax? Are you serious?! You are defending people, who in your own words, are not "big time businessmen". 10p in the pound is 12p more then that bunch of degenerates are worth. A disaster financially speaking yes- they are small fry local businessmen, not mutli-billionaires. Losing out on 90% of the money they are owed would be a financial disaster for them, in a way it simply wouldn't be for the Co-Op. How am i defending them in any way whatsoever?! People on here slate C9S before they know anything they can do. We know what that shower of wankstains have done, yet still people say "better the devil you know". Asset stripping? Sell your best player to pay a fraction of the tax bill you cannot afford. Don't forget your court appointment in August. I'm not getting involved in the C9S vs the board debate- i'm just debating over who has the power between the board of directors and the Co-Op bank. Edited July 30, 2010 by TheBoyBeevers Link to comment Share on other sites More sharing options...
theowlsman Posted July 30, 2010 Share Posted July 30, 2010 I honestly believe some people just don't get how serious a predicament we're in. Link to comment Share on other sites More sharing options...
camffiti Posted July 30, 2010 Share Posted July 30, 2010 Investment partners ? Thank you for your patience Link to comment Share on other sites More sharing options...
Furious George Posted July 30, 2010 Share Posted July 30, 2010 Theboybeevers: How does someone, with no shares, and no influence, with a lot more to lose, make somebody accept what they want? Seriously - the people who think that the bank run this club are deluded. The bank are held to ransom by the board. Question - why are the bank backing a bid yet the club do not even give it the courtesy of a response? Answer: because they don't have to. Link to comment Share on other sites More sharing options...
Guest Ogsowl Posted July 30, 2010 Share Posted July 30, 2010 I honestly believe some people just don't get how serious a predicament we're in. Can't pay the taxman........... Let's sell a player! (arguably our best one!) Won't he want more money next month??.............. Ah, yes! But that will come from match day revenues! But we've no replica shirts or beer to sell!.......... .................. Deep, Deep poo poo. Link to comment Share on other sites More sharing options...
TheBoyBeevers Posted July 31, 2010 Share Posted July 31, 2010 Theboybeevers: How does someone, with no shares, and no influence, with a lot more to lose, make somebody accept what they want? Seriously - the people who think that the bank run this club are deluded. The bank are held to ransom by the board. Question - why are the bank backing a bid yet the club do not even give it the courtesy of a response? Answer: because they don't have to. Correct me if i'm wrong but where/when have the bank 'backed the bid' of C9S? Nobody on here knows what the bank are thinking/doing- their only public comment on the matter has been them backing the board's investment policy today. That's it. 'How does somebody with no influence....' The Co-Op have total influence though- on a practical level, they are one of only two creditors (along with HMRC) who can threaten our existance. If that isn't influence then what is? Everything the board does HAS to keep the bank onside- if we upset them we're fooked. Your assertion that the bank is being held to ransom by the board is only true so long as the bank is willing to extend our debt facilities even further- make no mistake, there will be a point where this will continue no further- and that is why it is the bank and not the board is in control- the board are only in control so long as we can have a blank cheque. Link to comment Share on other sites More sharing options...
Furious George Posted July 31, 2010 Share Posted July 31, 2010 Correct me if i'm wrong but where/when have the bank 'backed the bid' of C9S? Nobody on here knows what the bank are thinking/doing- their only public comment on the matter has been them backing the board's investment policy today. That's it. 'How does somebody with no influence....' The Co-Op have total influence though- on a practical level, they are one of only two creditors (along with HMRC) who can threaten our existance. If that isn't influence then what is? Everything the board does HAS to keep the bank onside- if we upset them we're fooked. Your assertion that the bank is being held to ransom by the board is only true so long as the bank is willing to extend our debt facilities even further- make no mistake, there will be a point where this will continue no further- and that is why it is the bank and not the board is in control- the board are only in control so long as we can have a blank cheque. Well - from what I - and quite a few - understand is that the bank do actually back their bid. That isn't fact by the way - just what I've been told (which could be wrong, but it isn't). As for the second part of your post. Seriously - think about it. The bank are owed 20m. They can shout and scream as much as they want, but how do they make the board do what they want to? They might cut off the funds to show the club what they can do. But who gets un-workable in the arse eventually??? The bank. It's the perfect example of biting your nose off to spite your face. Link to comment Share on other sites More sharing options...
TheBoyBeevers Posted July 31, 2010 Share Posted July 31, 2010 Well - from what I - and quite a few - understand is that the bank do actually back their bid. That isn't fact by the way - just what I've been told (which could be wrong, but it isn't). As for the second part of your post. Seriously - think about it. The bank are owed 20m. They can shout and scream as much as they want, but how do they make the board do what they want to? They might cut off the funds to show the club what they can do. But who gets un-workable in the arse eventually??? The bank. It's the perfect example of biting your nose off to spite your face. I suppose it comes down to a very simple equation doesn't in. Is the bank more scared about losing £15million (which they know they're unlikely to get back ever anyway) or is the board more scared about being put into administration by the bank? We clearly have differing opinions on that, and we're clearly not going to convince each other either. So i'm calling it quits (although David James is f**ing awesome FG ) Link to comment Share on other sites More sharing options...
Furious George Posted July 31, 2010 Share Posted July 31, 2010 I suppose it comes down to a very simple equation doesn't in. Is the bank more scared about losing £15million (which they know they're unlikely to get back ever anyway) or is the board more scared about being put into administration by the bank? We clearly have differing opinions on that, and we're clearly not going to convince each other either. So i'm calling it quits (although David James is f**ing awesome FG ) I will put my house on it now, the bank will never put us into Admin. We will never convince each other. Because I'm right. And David James is poo poo.... Link to comment Share on other sites More sharing options...
NYCOWL Posted July 31, 2010 Share Posted July 31, 2010 And round and round and round we go. Where it stops, who the flip knows... Link to comment Share on other sites More sharing options...
j-savas Posted July 31, 2010 Share Posted July 31, 2010 Well - from what I - and quite a few - understand is that the bank do actually back their bid. That isn't fact by the way - just what I've been told (which could be wrong, but it isn't). As for the second part of your post. Seriously - think about it. The bank are owed 20m. They can shout and scream as much as they want, but how do they make the board do what they want to? They might cut off the funds to show the club what they can do. But who gets un-workable in the arse eventually??? The bank. It's the perfect example of biting your nose off to spite your face. Also what I've been told. Its clear that the bank are more restless now then they've ever been (my opinion of course), I think they have totally lost faith in the current board getting us out of this mess and want someone else (yes club 9 at this stage) to have a go. Unfortunately it would appear to me that the old board has a gritty determination to stay - even beyond administration I guess so they can potentiialy get it back on the cheap. This would make me very angry. People should never put themselves ahead of the good of the club. Link to comment Share on other sites More sharing options...
daveyboy66 Posted July 31, 2010 Share Posted July 31, 2010 Also what I've been told. Its clear that the bank are more restless now then they've ever been (my opinion of course), I think they have totally lost faith in the current board getting us out of this mess and want someone else (yes club 9 at this stage) to have a go. Unfortunately it would appear to me that the old board has a gritty determination to stay - even beyond administration I guess so they can potentiialy get it back on the cheap. This would make me very angry. People should never put themselves ahead of the good of the club. yes but you're talking like a wednesday fan...which clearly these moronicflaps are not Link to comment Share on other sites More sharing options...
dumboldowl Posted July 31, 2010 Share Posted July 31, 2010 Add to that the stigma of being on the board of a club which rips off it's creditors (I'm not sure that an FD or a CEO who have been involved with a club which has gone into admin will find jobs to easy to come by) and the board just can't afford to let that happen. Can't be any worse than the stigma of being on the board of a club that has failed its loyal supporters for more than a decade. Link to comment Share on other sites More sharing options...
Mr Farrell Posted July 31, 2010 Share Posted July 31, 2010 Can't be any worse than the stigma of being on the board of a club that has failed its loyal supporters for more than a decade. I think that's being kind to them. Just my opinion. Link to comment Share on other sites More sharing options...
wisewoodowl Posted July 31, 2010 Share Posted July 31, 2010 Can't be any worse than the stigma of being on the board of a club that has failed its loyal supporters for more than a decade. Do you honestly think that those three give a $hit about the "loyal supporters"? Link to comment Share on other sites More sharing options...
Guest BirdonaMaguire Posted July 31, 2010 Share Posted July 31, 2010 Tip: click inside this box to load the editor Link to comment Share on other sites More sharing options...
eDDie Posted July 31, 2010 Share Posted July 31, 2010 Tip: click inside this box to load the editor POST OF THE DAY Link to comment Share on other sites More sharing options...
Jim Posted July 31, 2010 Share Posted July 31, 2010 In my opinion the statement doesn't tell us anything different to the last umpteen statements the club have put out over the last 18 months or so. I would appreciate club statements more if they actualy told us what we'd like to know:- How actually close to The Abyss is the club? If we are in the Sh!t, what are the board actually going to do about it? Have we paid the Tax Bill and can we go out and sign a replacement keeper for Grant? It's easy to hide behind club statements and I think this is why the board get a rough ride. If they were actually more open and honest? I think more fans would give them the benefit of the doubt? I genuinely think they are going to batten down the hatches and hope the team can perform on the pitch to get them out of this particular hole that they've found themselves in. I dread to think how uncomfortable it will get for the board if D&R score the 1st goal next Sat.? As for Club 9, they might not be the answer but you can't deny whether it's spin or not? that they haven't told the fanbase how they are going to try to rectify the problems that the club currently has. If the board were more progressive in communicating with the fanbase then they might not be getting the stck they are getting now? Let's face it, we are paying customers, they want our money, it's only fair that they let us know what they intend to do with it, when it come to progressing the club? Link to comment Share on other sites More sharing options...
Furious George Posted July 31, 2010 Share Posted July 31, 2010 (edited) As for Club 9, they might not be the answer but you can't deny whether it's spin or not? that they haven't told the fanbase how they are going to try to rectify the problems that the club currently has. If the board were more progressive in communicating with the fanbase then they might not be getting the stck they are getting now? Let's face it, we are paying customers, they want our money, it's only fair that they let us know what they intend to do with it, when it come to progressing the club? I think they have. http://club9sports.com/Home_Page.php Edited July 31, 2010 by Furious George Link to comment Share on other sites More sharing options...
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