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Club for sale etc.

Discussion in 'City Talk' started by Norman Corner, Oct 20, 2023.

  1. Fordy117

    Fordy117 Just call me Mr Flip-Flop!
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    Doesn’t matter if he was at our game or not yesterday. He lives further away than Rupp and has attended more games. If I am also correct they have a DOF and other senior figures that will attend matches.

    You are adding legal fees on but if the club was brought for 5m or 6m then that was the price of the purchase. You are also increasing the value. Based on what? The club in most departments has gone backwards. It was brought as a div 1 club but now a midtable div 2 club. No progress has been made by the current owner. Look I am not saying he wouldn’t get more than what he brought it for but that is only based on vision for the club and what he can achieve if we had a serious owner.

    13m for Bradford City is dream land figures!! No chance.
     
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  2. BantamJ

    BantamJ Fringe Player
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    I think that what would be a record purchase in league 2. Reading have 50 million bid on the table and will be a record for league 1 but they own various assets and are a league above. If it’s 13.5 mill he’s here for life what a depressing thought. We don’t move on until he’s gone.
     
  3. Bronco

    Bronco Star Player
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    Read the post a little slower @wetherbywhaler@wetherbywhaler breaks it down with regards the "fit and proper" financial guarantee or are you suggesting that is not the case, what ever the cost of the purchase 3 years of £1.5m must be guaranteed, for a business man of your stature its not that difficult to grasp.................

    Then on top there are such as legal fees and now you have to add the 'fit and proper' financial guarantee of proving or depositing money to run the club for 3 years after purchase at £1.5mil per annum or if you want as an example a purchase of £5 mil is now £9.5 mil or £9 mil is now £13.5 mil.

    If someone like @Interested Bystander@Interested Bystander likes the post I suggest its bang on, he knows his onions does Interested Bystander.
     
  4. Fordy117

    Fordy117 Just call me Mr Flip-Flop!
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    Your love child @wetherbywhaler@wetherbywhaler isn’t always correct. In fact his thoughts on Bradford City are always positive. Now until he has fair balanced comments and in facts comments on the negatives then I suggest you get out of his behind and don’t take him too seriously.
     
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  5. Dennis

    Dennis Captain
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    The EFL certainly requires all Div 1 and 2 clubs to provide what it calls 'Future Financial Information' to prove to the EFL that a club is able to fund itself for the foreseeable future - in effect a very detailed business plan. That's prescribed in detail in the EFL Regs. I believe that to be a good move by the EFL. However, I've never seen any reference to a specific requirement for a club to deposit £1.5m pa for 3 years to prove that it can fulfil its future funding needs. It isn't in the EFL Regs or the Guidance Notes where the other other financial obligations of the the EFL are specified. Can you let me know where it comes from?

    If that really is an EFL requirement (I don't believe there is), there is already a proven market for financial performance bonds which I'm sure clubs can access without having to lay out many millions upfront. My own experience is that these kinds of bonds from reputable financial institutions aren't overly expensive - circa 1-3% pa - say £15k-45k pa.
     
  6. Bronco

    Bronco Star Player
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    Just pointing out on this occasion he's bang on proving you wrong once again, its becoming a bit of a habit, your comments are really uncalled for but should I expect anything different from you .......................nah you can't handle the truth as the quote goes.
     
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  7. wetherbywhaler

    wetherbywhaler Impact Sub

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    Prior to the FA cup match Wrexham v Oldham last year they interviewed the guy who bought Oldham after relegated to NL. Asked what he paid answer was £10 mil plus £3 mil debt, total £13 mil.
    I believe Galinson paid around £8mkl for 75% of Gills so there you arrThink it’s called the real world Fordy
     
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  8. AngryGaz

    AngryGaz Impact Sub
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    It was a Division 1 club banging on the door to the Championship until he let his laptop run amok and destroy everything that was built from 2012 pnwards
     
  9. AngryGaz

    AngryGaz Impact Sub
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    Did both clubs own there grounds ???
     
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  10. Kevin1954

    Kevin1954 Squad Player
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    Keep digging, you are becoming quite entertaining. You don’t even understand the basic fundamentals of inflation on the economy. It appears the house you purchased 10 years ago is worth exactly the same today as it was 10 years ago? Wanna sell it?
     
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  11. HUDDERSSBANTAM

    HUDDERSSBANTAM Squad Player

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    That's the key. The grounds will be worth in the region of £5m alone.
     
  12. wetherbywhaler

    wetherbywhaler Impact Sub

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    I think Gills was certainly owned by the previous owner Paul Scally and previous Oldham owners did a sale and leaseback but not sure of current situation.
    If Fordy wants some evidence of value he could call Andy Holt at Accy who put the club up for sale this morning. Might get a further surprise
     
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  13. Kevin1954

    Kevin1954 Squad Player
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    How, Gillingham and the middle of Victorian housing estate just like Valley Parade. Nominally Brownfield land Hudders? It’s probable low rent and scrap steel value.
     
  14. Dennis

    Dennis Captain
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    Oldham didn't own Boundary Park at the time. It was owned separately by a former Oldham director and paid for on a lease as we do for VP. But the deal which long standing Oldham fan Frank Rothwell negotiated brought both the club and Boundary Park under common ownership again .. including all the land around the ground which has been designated for development.
     
  15. Ulysses S Grant

    Ulysses S Grant Squad Player
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    Cooked by Nigella and served by Katya Adlee & Keeley Hawes
     
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  16. Goose

    Goose Impact Sub

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    Gibb has a Bentley
     
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  17. borderlescott

    borderlescott Squad Player

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    And is back on good terms with the club, as per the recent sponsorship deal…….
     
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  18. Jordan

    Jordan Impact Sub

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    To be fair, it looks like Gibb is taking out sponsorship where he can. We have the same shirt sleeve sponsorship as Leeds United but their deal is also for the women's and academy teams. They've also got the sponsor rights at Scarboroughs ground and shirt sponsor for Pickering Town which is probably the closest team to the park.
     
  19. SteveC

    SteveC Squad Player
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    Yep saw that earlier. Very interesting comments by him. Fans may end up regretting their actions…
    IMG_9731.jpeg
     
  20. Park bantam

    Park bantam Regular Starter
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    If Gibb took over here there would be no big spending
     
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