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Stefan Rupp- Con man?

Discussion in 'City Talk' started by Toby, May 28, 2019.

  1. Toby

    Toby Breakthrough Prospect

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    Last summer Stefan and Edin had agreed a £3 million playing budget, and Stefan was kept in the dark about the £1.1 million overspend. The truth only arose in November after Rhodes’ return.
    https://widthofapost.com/2019/05/22/open-dialogue/

    What kind of businessman worth £100m+ takes 3/4 months to realise his own partner has gone £1 million over-budget. Keep in mind that he was in daily contact with Edin. Did he not look at the finances to see how his business was operating? Did he not speak to any of the (numerous) accountants that worked for the club. Did he not check his own bank statements? Hard to believe such an accomplished investor would be so negligent with a multi million pound investment.

    I find it much more likely that he knew how Edin was operating, allowing him to tyrannise the club and it’s employees until it got to the point where fans were blaming the despots enabler as well. Which is when he decided to plead ignorance and dissociate himself from public enemy #1- knowing that people would be scared to challenge the story of the only man keeping BCAFC from admin. If he was truly ‘kept in the dark about the £1.1m overspend’; does that not mean Edin commit fraud by lying to an investor... which would entitle Stefan to restitution.

    By appointing Rhodes and portraying himself as the saviour in the media, Rupp managed to stay on the right side of the fan base. Which will enable him to regain more of his investment in the long term. This is supported in Parker’s article today where Rhodes says Rupp will take the McBurnie money, and I presume would’ve taken the Wyke money as well. Which would probably be worth near £2m. Covering much of the money he’s lost already. I don’t think he would have been able to minimise his losses to this extent if he had admitted to being complicit and sold up with Edin.
     
  2. River_City_Bantam

    P.L. 23/24 Top 20 P.L.24/25 Entrant P.L. 20/21 Top 10

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    Con-men tend to be charming, disarming, plausible, manipulative... Remember that Rupp was supposed to be more the silent partner, with the football man (hah!) running things over here. Rupp was out of his element; it really isn't surprising that someone who is successful in one field can be incredibly naive / stupid / whatever when out of that field, and thus get taken in. Remember also that for the longest time Rahic seems to have been the sole source of information for Rupp -- making it much easier for things to be hidden.

    Agreed that Rupp should have taken a more active interest in the finances etc. from the start. And everyone, starting with Rupp, should have done fuller background checks on Rahic. There was enough to be worried about in the public domain, and specialists, e.g. accountants, could certainly dig deeper. But as I began, con-men tend to be charming etc.

    Rupp deserves a bit of the blame, but the overwhelming majority of it still goes to Rahic.

    RCB
     
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  3. Mike Hunt

    Mike Hunt Impact Sub

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    Remember, Edin was the only one allowed to speak to Stefan.
    I work for a company which has owners based overseas, they get the signed accounts once a year and an update on sales monthly. They trust the rest to the UK board. Trust is important.
    I’m not saying Stefan is blameless, but the owner not knowing the day to day business in the set up was not in my opinion unusual. remember he was just the money man.
    Yes Stefan should have taken more care, but hindsight is wonderful.
     
  4. Fordy117

    Fordy117 Just call me Mr Flip-Flop!
    Bubbles car wash

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    This might be the case when the owners know the industry but Rupp wasn't/isn't a footballing man so it would be extremely foolish of him if this was the case.

    Remember Rupp was on the pitch with Edin. You remember that?

    I'm not convinced all this is Edin making at all. Far from convinced.

    If Rupp is only interested in making money then owning a football club is wrong for him. We need an owner or owners that want to make Bradford City a top club or a least the best club in Yorkshire. An owner with a vision and ambition for the club.
     
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  5. Ollylondonbantam

    Ollylondonbantam Squad Player

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    I really don’t know why some folk are still held bent on constantly in-questing & outbursting on Edin’s reign.
    Was is disastrous? Yes.
    Has it set a soundly operating club seriously backwards? Yes.
    Can we change any of what’s happened? No.

    Stefan has made mistakes, he clearly knows and admits that. As the WOAP article (great article BTW) explains, he has however assured the club to cover debts made by Edin and set a relatively competitive playing budget for next season.

    Our situations is far from ideal and honestly who knows when/if we will get back on track as we were prior to our change in ownership. However isn’t the scrutinising and inquest on the past done for now? As far as we can see today we have an owner who will finance this season. Rhodes who will manage and operate us to some sort of stability and a manager who, on paper has the credentials of working within the restraints we have on us, to make us a challenging team for next season.

    Amongst all the crap, I see some minute signs of positivity. I’m not a happy clapper and far from pleased about what has happened to us. However we’re a damn site better off than some clubs (Bolton for one).

    If you’re not happy with Stefan that’s fine, it’s your prerogative. However to call him out as a con man seems a little far fetched. As for the Edin bashing, I wish we could just let it lie. It’s done and truthfully, I can’t bare to hear the guys name associated with our club any longer!
     
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  6. Rogered Tart

    P.L. 23/24 Top 30 Euro24 PL Entrant P.L.24/25 Entrant

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    A con man that stands to lose millions in an investment? Not a very good con man is he? I’d say the only person he has conned is himself, something he admits to and seems quite embarrassed about.
     
  7. City loyal

    City loyal Emergency Backup

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    I think people need to lay off Rupp to be honest, naive yes but a con man !!

    4 million pound budget last year, let that sink in 4 million for that bunch of freeloaders I saw simply give up after Christmas

    With anyone but Rahic at the helm we would be in the league 1 next year at the very least.

    Competitive budget next year, irrespective of the McBurnie situation.

    Let’s just be thankful please
     
  8. Fordy117

    Fordy117 Just call me Mr Flip-Flop!
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    Don't think we should lay off him at all.

    Think he needs to prove himself this season to be a good owner because so far he's been a failure.

    I'm not thankful in being in div 2.
     
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  9. Stevay_b

    Stevay_b Impact Sub

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    Taking money out at the very first opportunity rather than funding an actual push at promotion, cool

    In monetary figures yes we have a competetive budget, but that's taken up by some of the worst excuses for footballers I've ever seen, and if that's the standard we're basing our squad around we're in for a dire season.
     
  10. Faithful Bantam

    Faithful Bantam Squad Player

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    For the life of me, I see no connection with the regular cycle of accountants being moved on and the deceptive reporting of club finances from Rahic to Rupp.

    Nothing to see here. Move along.
     
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  11. bantamdave41

    Euro24 PL Entrant P.L.24/25 Entrant Supporter Euro 2020

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    I wouldn’t use the phrase conman.

    But without doubt in my eyes, Rupp is to blame for the mess we live with.
     
  12. Onside

    Euro24 PL Entrant P.L.24/25 Entrant Supporter

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    This continued digital harassment of Rupp is beyond boring tbh. Life is a pile of crap at times; it is how you deal with it that tells the story, continually poking the crap with your stick and saying this is crap is one way of dealing with but not very productive. Of course we could be in a different place altogether but we are not. Ffs just move on!!

    At the moment we have to wait and see how this next season develops; setting targets like I only want automatic promotion is for the birds. Yes I want promotion and I want it this season, but I couldn’t care less whether through auto’s or playoffs is fine by me, and that should be our target I don’t disagree, but the reality of our situation may well hamper our aspirations.
     
  13. Idlebantam

    P.L.24/25 Entrant P.L. 20/21 Top 10

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    Con Man is very harsh, and insulting. Yes, he has to shoulder quite a bit of the blame, especially trusting and allowing Rahic to get away with so much for so long. However, it appears, despite not having much affinity with the sport, that he is trying to rectify his mistake and naivety, by continuing to back us.

    I think the ideal solution going forward, for both Rupp and the Football Club, would be for new buyers to somehow materialise, who have more affinity with football, and hopefully us
     
  14. Faithful Bantam

    Faithful Bantam Squad Player

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    He's clearly not a conman. But he bit off more than he can chew and was obviously misled by Rahic. I am surprised that for a successful and wealthy businessman, he appears to have been incredibly naive.
     
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  15. Yorkieman

    Yorkieman Impact Sub

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    I said at the time that I felt Rahic had done things that were so dubious that he could be prosecuted. I think this was uncovered when Rhodes returned, and Rahic was told be Rupp that he either he walks or they will report his behaviour.

    I think that is why he went AWOL and then finally left completely.

    Directors have a legal responsibility to do things right and I think Rahic did somethings that were clearly not right or ethical. Once this was known by Rhodes the game was up and he had no choice but to go.

    I think there's always been a lot more to this than we know about.
     
  16. City loyal

    City loyal Emergency Backup

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    It’s not his fault we are in league 2 Fordy
     
  17. Thelittlegerman

    Thelittlegerman Fringe Player

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    Wasn't Edin originally an accountant? And didn't he employ his wife as the City company accountant? I imagine it would then be easier to cover up any financial mismanagement and overspend and keep this from Stefan...
     
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  18. king karl

    Staff Member Admin Moderator Supporter

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    If what I heard is allegedly true hes on the run in the Netherlands

    And its not just football related... as I say allegedly and all hearsay but from a good source
     
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  19. Dennis

    Staff Member Moderator Supporter

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  20. BSABantam74

    BSABantam74 Fringe Player

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    Does the club owe unpaid Tax money to the Inland Revenue ? Because for sure it will. No way is someone with the level of financial incompetence that Rahic is supposed to have would have been keeping up with Inland Revenue accountability ?. His Mrs was the Club Accountant was she not ?

    I think we have not heard the worst of this mess yet ?.
     
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