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Post by stig123 on May 10, 2024 13:05:23 GMT
Breathe in...breathe out.
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Post by gateman49 on May 10, 2024 13:08:06 GMT
Well that's good news but now the work starts. If things go t... up Michael Westcott will have experience having started his company on a pig farm: www.closerstillmedia.com/leadersI presume that they aren't flying pigs. |
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Post by gateman49 on May 10, 2024 13:43:45 GMT
I may be a bit behind the curve so the following point may have already been picked up. I see that the Philip Soar, Chairman of Closer Still Media, has connections with Arsenal and Nottingham Forest.
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Rags
TFF member
Posts: 1,210
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Post by Rags on May 10, 2024 15:24:27 GMT
I’ll be buying a season ticket for next season even if I’m unable to get to many games.
Support The Bryn Pack!!
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Deleted
Deleted Member
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Post by Deleted on May 10, 2024 15:51:00 GMT
Very good news.
Lots to do in the next 3 months, roll on 2024/25.
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Post by plainmoorpete on May 10, 2024 17:21:19 GMT
Wish them all the best. Just hope fans are more patient and understanding than they were with the previous fan led consortium.
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Rob
TFF member
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Favourite Player: Asa Hall
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Post by Rob on May 11, 2024 1:13:50 GMT
Very pleasing news. National League rules do state the need for creditors to be paid in full before their AGM from recollection, so trust everything in hand with the repayment proposal and continued membership. Grateful to have proper owners again after the Osborne/Edwards shameful tenure. Need to be out of administration before the AGM on 8 June, Rob. NOT all creditors paid in full by then. Football creditors and HMRC need settling immediately, other creditors (excluding unapproved owner loans) need to be settled within three years to satisfy league requirements. Thanks |
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Jon
Admin
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Post by Jon on May 26, 2024 20:28:18 GMT
Worth bumping. Some seem to have forgotten this. It is worth remembering that the route of paying creditors x pence in the pound, used by so many League clubs, is NOT open to us. FA rules decree that in order to keep our place in the League system all creditors have to be paid in full. People should bear that in mind when thinking the incoming owners will have cash to splash. Unauthorised loans from directors are specifically EXCLUDED from this requirement. When you think about it, this is a very fair rule. Companies that have provided goods and services to the football club in good faith have done nothing wrong and deserve to be paid whereas directors who knowingly run football clubs in an unsustainable manner do so at their own risk. |
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Rob
TFF member
Posts: 3,607
Favourite Player: Asa Hall
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Post by Rob on May 26, 2024 21:38:43 GMT
Worth bumping. Some seem to have forgotten this. It is worth remembering that the route of paying creditors x pence in the pound, used by so many League clubs, is NOT open to us. FA rules decree that in order to keep our place in the League system all creditors have to be paid in full. People should bear that in mind when thinking the incoming owners will have cash to splash. Unauthorised loans from directors are specifically EXCLUDED from this requirement. When you think about it, this is a very fair rule. Companies that have provided goods and services to the football club in good faith have done nothing wrong and deserve to be paid whereas directors who knowingly run football clubs in an unsustainable manner do so at their own risk. Never ceases to amaze me how unwarranted criticism is thrown these days. The relentless energy for it is beyond me. I’m sure it’ll be picked up and corrected. Maybe while selectively quoting this post, maybe not. Was curious to read about some sort of TUST power grab earlier. It’s just cringeworthy reading that sort of thing now. I’m looking very much forward to the consortium making it very clear how much they want to see TUST on board with them as I really don’t think some people get what is wanted at this time at all. But I’m realistic enough to realise all concerned will be flat out right now. True, some might never understand even when outlined to them, I suppose, but I’ve read intelligent people missing the point whether by accident or design time and again in the last few weeks and months. Time to start pulling in the one direction and long overdue. Broad church, but same religion. |
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rjdgull
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Post by rjdgull on May 27, 2024 5:47:22 GMT
I think history has shown that there isn’t an abundance of white knights out there willing to save the club. While the main TUST fallback option was to phoenix, the opportunity to help put together a consortium and save the club was taken and this ended up being the best option. There wouldn’t have been Bryn without TUST, without Bryn then maybe no club. Treading water to some extent while we wait for the CVA to go through with the administrators still running the show but a lot of work is going on behind the scenes to reboot the club in this transitional period.
A new model for TUFC, which we will hear about more in the coming weeks with the CSI being the first opportunity for fans to learn more about the proposals for the club going forwards. I am sure the vast majority will strain every sinew to make it work with the Paint up Plainmoor project being an early example and I am blown away, not just by the number of volunteers but also those tradesman willing to give up their time, those able to coordinate and project manage, companies willing to provide some of the necessary materials etc.
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petef
Match Room Manager
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Post by petef on May 27, 2024 13:20:04 GMT
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Post by plainmoorpete on May 27, 2024 15:37:02 GMT
Something has been worrying me since last week. Last week the two other forums posted the list of creditors that the club has. Now we were £1 million in the hole last season but I couldn't make out anything from the list of creditors that would explain that.
I was hoping to see expenses such as private hire chauffeur driven Bentleys to take directors to away matches or personal services for stressed football executives provided by Madam Whiplash, the kind of thing where you think we could easily save money just by cutting those expenses.
So where has the money been going and where can the savings been made. I can't believe all the money was spent on the playing side not with the crap we had last season.
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rjdgull
TFF member
Admin
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Post by rjdgull on May 27, 2024 17:33:26 GMT
Something has been worrying me since last week. Last week the two other forums posted the list of creditors that the club has. Now we were £1 million in the hole last season but I couldn't make out anything from the list of creditors that would explain that. I was hoping to see expenses such as private hire chauffeur driven Bentleys to take directors to away matches or personal services for stressed football executives provided by Madam Whiplash, the kind of thing where you think we could easily save money just by cutting those expenses. So where has the money been going and where can the savings been made. I can't believe all the money was spent on the playing side not with the crap we had last season. Probably made sure those kind of expenses were settled quickly and filed under miscellaneous. 😂 Seriously, list of creditors is different to that of expenses. Budgeting has been fully costed and accepted by the National League as far as I am aware. |
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Rags
TFF member
Posts: 1,210
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Post by Rags on May 29, 2024 7:25:55 GMT
So where has the money been going and where can the savings been made. I can't believe all the money was spent on the playing side not with the crap we had last season. Sadly I can fully believe that Pete and Gary Johnson spent far too much money on players who either weren't worth it or who GJ and Downesy weren't able to coach to a level that would have given us value for money. After all, the club lost £2.4m over the two seasons that culminated in us being relegated from the National League! |
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Rags
TFF member
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Post by Rags on May 29, 2024 7:50:56 GMT
I have another question that I know Jon will be able to answer if not others:
1) In the Statement of Affairs issued by the Administrators on 21st May, can we presume that the item "Shortfall in respect of F.C. post 14 September 2023" is effectively the loss since the last set of Accounts up to 30 June 2023? I presume there will not be any accounts up to 5th April 2024 (the appointment of the Administrator), or even 30 June 2024, so that we won't get a clear picture of the Profit and Loss situation of the club over the past 12 months?
2) Also, the bottom line of £7.9m deficit is a frightening number, but as that includes the £5.9m due to Riviera Stadium Ltd (and also a Club Supporters Loans figure of £70,000), then that isn't the actual debt that the Bryn Consortium is taking on. Or is it?
I suspect the answers to both concerns are to be found in the Statement of Administrator's Proposal document filed on 21 May, but having read the first few pages I expect it will take me at least a month to understand that document!
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