sandy Posted March 5, 2022 Report Share Posted March 5, 2022 2 minutes ago, javeajag said: Who cares tbh Apparently you do @javeajag Quote Link to comment Share on other sites More sharing options...
Garscube Road End 2 Posted March 5, 2022 Report Share Posted March 5, 2022 9 minutes ago, javeajag said: Who cares tbh You obviously do. You seem to be beholding of her. Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted March 5, 2022 Report Share Posted March 5, 2022 2 hours ago, javeajag said: So you are asking us to believe that a. the club intends to pull one over on fan ownership ( and the club here means Jacqui low) for unspecified reasons and objectives and b. The jags foundation are not smart enough to work out they need to do due diligence on the finances and obligations that are being handed over but I’m sure you will speculate away The Foundation rep who met fans last night in the Woody has posted that this is a question that currently they do not have the information for but will hopefully be pressing the club (or 3BC) for transparency. This is a genuine concern Quote Link to comment Share on other sites More sharing options...
Fawlty Towers Posted March 5, 2022 Report Share Posted March 5, 2022 13 minutes ago, Norgethistle said: The Foundation rep who met fans last night in the Woody has posted that this is a question that currently they do not have the information for but will hopefully be pressing the club (or 3BC) for transparency. This is a genuine concern Thanks for that. What I would be interested in knowing is was last season a one off in terms of finances given that there were no fans, hospitality, etc plus costs with testing, etc? Given those circumstances the owner putting some money in would not be unusual.However if this season when finaces should be better (fans back in, increased number of season tickets, etc) we should be looking to operate on a break even budget without money coming in from TBC. Quote Link to comment Share on other sites More sharing options...
javeajag Posted March 5, 2022 Author Report Share Posted March 5, 2022 3 hours ago, Garscube Road End 2 said: You obviously do. You seem to be beholding of her. Zzzzzz….. your the one obsessed with her but avoid explaining your conspiracy theories Quote Link to comment Share on other sites More sharing options...
javeajag Posted March 5, 2022 Author Report Share Posted March 5, 2022 3 hours ago, Norgethistle said: The Foundation rep who met fans last night in the Woody has posted that this is a question that currently they do not have the information for but will hopefully be pressing the club (or 3BC) for transparency. This is a genuine concern So the fans reps on the current board have no access to the clubs accounts or finances then that’s novel Quote Link to comment Share on other sites More sharing options...
javeajag Posted March 5, 2022 Author Report Share Posted March 5, 2022 4 hours ago, sandy said: Apparently you do @javeajag Your back stalking again 1 Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted March 5, 2022 Report Share Posted March 5, 2022 1 hour ago, javeajag said: So the fans reps on the current board have no access to the clubs accounts or finances then that’s novel When was the last time any of the fans reps on the board gave a feedback to the fans? 1 Quote Link to comment Share on other sites More sharing options...
sandy Posted March 5, 2022 Report Share Posted March 5, 2022 (edited) 2 hours ago, javeajag said: Your back stalking again Eh…naw. What an idiotic thing to say. And it’s ‘You’re’ anyway. Edited March 5, 2022 by sandy Quote Link to comment Share on other sites More sharing options...
javeajag Posted March 5, 2022 Author Report Share Posted March 5, 2022 2 hours ago, Norgethistle said: When was the last time any of the fans reps on the board gave a feedback to the fans? So you agree with my point then as you avoided referring to it and you know the duties of directors so I wonder what your motives are Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted March 6, 2022 Report Share Posted March 6, 2022 11 minutes ago, javeajag said: So you agree with my point then as you avoided referring to it and you know the duties of directors so I wonder what your motives are Your point was there is no NDA preventing board members telling fans our true financial status, i stated there is and when was last time the fans on the board fed back to the fans effectively validating my point, as they never have. Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted March 6, 2022 Report Share Posted March 6, 2022 17 minutes ago, javeajag said: So you agree with my point then as you avoided referring to it and you know the duties of directors so I wonder what your motives are Simple question. Should the party who is taking over the business insist on proper due diligence being carried out? Yes or No? Quote Link to comment Share on other sites More sharing options...
javeajag Posted March 6, 2022 Author Report Share Posted March 6, 2022 8 hours ago, Norgethistle said: Your point was there is no NDA preventing board members telling fans our true financial status, i stated there is and when was last time the fans on the board fed back to the fans effectively validating my point, as they never have. Can you show me the NDA please. Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted March 6, 2022 Report Share Posted March 6, 2022 1 hour ago, javeajag said: Can you show me the NDA please. As I’ve not signed it I would have no access to it so no. Now to the other question. Should the party who is potentially taking over the business insist on proper due diligence being carried out? Yes or No? Quote Link to comment Share on other sites More sharing options...
javeajag Posted March 6, 2022 Author Report Share Posted March 6, 2022 24 minutes ago, Norgethistle said: As I’ve not signed it I would have no access to it so no. Now to the other question. Should the party who is potentially taking over the business insist on proper due diligence being carried out? Yes or No? Ok so you haven’t seen any NDA but because you think one should exist then it does….very existential Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted March 6, 2022 Report Share Posted March 6, 2022 12 minutes ago, javeajag said: Ok so you haven’t seen any NDA but because you think one should exist then it does….very existential Can you answer the other question Quote Link to comment Share on other sites More sharing options...
javeajag Posted March 6, 2022 Author Report Share Posted March 6, 2022 1 hour ago, Norgethistle said: Can you answer the other question Ok so I take it you have not seen any nda, can’t provide one or prove it exists except in your head Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted March 6, 2022 Report Share Posted March 6, 2022 6 minutes ago, javeajag said: Ok so I take it you have not seen any nda, can’t provide one or prove it exists except in your head It’s on record from when the Jags trust had a rep. It is common in all business. Once again should the Foundation be insisting on proper, professional independent due diligence being carried out? Yes or no Quote Link to comment Share on other sites More sharing options...
javeajag Posted March 6, 2022 Author Report Share Posted March 6, 2022 17 minutes ago, Norgethistle said: It’s on record from when the Jags trust had a rep. It is common in all business. Once again should the Foundation be insisting on proper, professional independent due diligence being carried out? Yes or no So they have a lawyer working with them, they are on the Board, have a right to see all financial and other information , one of the reps is a finance guy so if they miss the selling of firhill to Tesco I’ll be amazed but who ever said the foundation shouldn’t understand what they are taking over ….nobody but like your made up nda you can always make stuff up Quote Link to comment Share on other sites More sharing options...
Lenziejag Posted March 6, 2022 Report Share Posted March 6, 2022 20 hours ago, Norgethistle said: The Foundation rep who met fans last night in the Woody has posted that this is a question that currently they do not have the information for but will hopefully be pressing the club (or 3BC) for transparency. This is a genuine concern I admit that I haven’t read any of the literature or correspondence, but I think the 1st thing I would want to know is what my personal liability is if things don’t work out. Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted March 6, 2022 Report Share Posted March 6, 2022 25 minutes ago, javeajag said: So they have a lawyer working with them, they are on the Board, have a right to see all financial and other information , one of the reps is a finance guy so if they miss the selling of firhill to Tesco I’ll be amazed but who ever said the foundation shouldn’t understand what they are taking over ….nobody but like your made up nda you can always make stuff up Because an individual has a seat on the boards of 2 different legal entities does not give them permission to share information between the 2 separate entities without pre-approval of the board in question. Again should due diligence be carried out? Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted March 6, 2022 Report Share Posted March 6, 2022 7 minutes ago, Lenziejag said: I admit that I haven’t read any of the literature or correspondence, but I think the 1st thing I would want to know is what my personal liability is if things don’t work out. I couldn’t see a personal liability being there (same as owning a small shareholding in another company), but there would be a moral liability. If (for example) the club needs a significant 6 figure sum to balance the books on a yearly basis, to keep the company operating as a growing concern then that would be on the fans to determine if they can raise it, cut costs (1/6 of operating budget) or a combination of both. This is why due diligence needs carrying out, 3BC accounts show a “payment” of over half a million pounds to its subsidiary (PTFC??) which would indicate that there is a significant hole to plug on hand over day. TJF have stated 1000 fans generate £100k a year, so if that figure is true we need 5000 members (currently around 500) or those contributing would need to contribute significantly more (if 500 it would be £100 a month rather than £10 a month). Quote Link to comment Share on other sites More sharing options...
javeajag Posted March 6, 2022 Author Report Share Posted March 6, 2022 9 minutes ago, Norgethistle said: I couldn’t see a personal liability being there (same as owning a small shareholding in another company), but there would be a moral liability. If (for example) the club needs a significant 6 figure sum to balance the books on a yearly basis, to keep the company operating as a growing concern then that would be on the fans to determine if they can raise it, cut costs (1/6 of operating budget) or a combination of both. This is why due diligence needs carrying out, 3BC accounts show a “payment” of over half a million pounds to its subsidiary (PTFC??) which would indicate that there is a significant hole to plug on hand over day. TJF have stated 1000 fans generate £100k a year, so if that figure is true we need 5000 members (currently around 500) or those contributing would need to contribute significantly more (if 500 it would be £100 a month rather than £10 a month). This is hilarious….. 3BC show a payment , you don’t know who to or why, you decide it’s the club, you then assert that means there is a hole in the clubs finances , and then even more bizarrely you assume there is a recurring £500k permanent gap in the clubs finances that the fans group would have to fund every year a proverbial house of cards …. every director knows whether 3BC made a payment to the club or not and on what basis so it’s hardly a secret Quote Link to comment Share on other sites More sharing options...
Fawlty Towers Posted March 6, 2022 Report Share Posted March 6, 2022 14 minutes ago, Norgethistle said: I couldn’t see a personal liability being there (same as owning a small shareholding in another company), but there would be a moral liability. If (for example) the club needs a significant 6 figure sum to balance the books on a yearly basis, to keep the company operating as a growing concern then that would be on the fans to determine if they can raise it, cut costs (1/6 of operating budget) or a combination of both. This is why due diligence needs carrying out, 3BC accounts show a “payment” of over half a million pounds to its subsidiary (PTFC??) which would indicate that there is a significant hole to plug on hand over day. TJF have stated 1000 fans generate £100k a year, so if that figure is true we need 5000 members (currently around 500) or those contributing would need to contribute significantly more (if 500 it would be £100 a month rather than £10 a month). This takes me back to a point I made earlier. Was last season a "one off" in terms of TBC's financial support (remember the Scottish Government was giving Championship clubs £500K) or is it something that is required longer term? Quote Link to comment Share on other sites More sharing options...
javeajag Posted March 6, 2022 Author Report Share Posted March 6, 2022 33 minutes ago, Lenziejag said: I admit that I haven’t read any of the literature or correspondence, but I think the 1st thing I would want to know is what my personal liability is if things don’t work out. The jags foundation as I understand it is a company with charitable status limited by guarantee so you may lose £1 Quote Link to comment Share on other sites More sharing options...
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