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Bradford in need of a new beginning after sorry story of mismanagement

Discussion in 'City Talk' started by SydneyBantam, Nov 28, 2018.

  1. Interested Bystander

    P.L. 23/24 Winner World Cup 26 Supporter ⚽ P.L.25/26 Entrant
    Knows Football

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    Managed 6 pages without, almost a record
     
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  2. Johnny Yen

    Johnny Yen Squad Player

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    Exactly, Prime example, I was totally of the opinion through reading social media that the playing budget had been significantly slashed at least twice, until reading the WOAP article yesterday.
    Unless of course, this could include transfer fees, and the actual wages were slashed. Old Edin did bang on about a wage structure made up of bonus payment.
    Sorry I've digressed the thread haha
     
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  3. CT Bantam

    Supporter

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    True mate but as far as I know they have to vote to pay a dividend. If Rupp doesn't want a dividend paid I guess he out votes any shareholders that do.
     
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  4. ahar964

    Supporter ⚽ P.L.25/26 Entrant

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    I agree with that. I was disagreeing with the poster who said Rupp could pay himself a dividend but not pay one to Edin. Where's Dennis when you need him :)
     
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  5. Dennis

    Staff Member Moderator Supporter

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    Yup. All holders of the same class of share are entitled to he treated in exactly the same way. And that includes the payment of dividends. This legal requirement is often reinforced in small companies in the Articles or the shareholder agreement by what is known as the principle of pari passu.
     
  6. JonButterfield

    World Cup 26 Supporter ⚽ P.L.25/26 Entrant

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    But it's a more interesting story if we make up a few of the elements, instead of stringently following 'the law'.

    So for me, we CAN get rid of him, easily and quickly, just by telling him to go. He'd also owe us £10m for the pleasure.
     
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  7. Dennis

    Staff Member Moderator Supporter

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    You can imagine the conversation ...

    Stefan - Edin you're not wanted. The fans have spoken. Feck off!
    Edin - But what about my shares?
    Stefan - I'm the majority shareholder and what I say goes. You're getting nothing. Feck off!
    Edin - But what about my job at the club?
    Stefan - I'm the majority shareholder and you're sacked. Feck off
    Edin - What about the money I'm owed from my job?
    Stefan - I'm the majority shareholder. I make up the rules and you're owed nowt. Feck off!
    Edin - But what about the law? It's you who can feck off!

    That should work well! ;)
     
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  8. marshy77

    marshy77 Emergency Backup

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    I'm going to post that on Twitter and claim it to be factz because someone mentioned it.

    Just waiting for the likes now.
     
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  9. NorthernMonkey

    NorthernMonkey Squad Player

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    Nope. It's a thread about people on here talking nonsense.

    In that category, "Big target men" just happen to be a speciality for some here.
     
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  10. Stafford Bantam

    Staff Member Moderator Supporter

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    How does this fit in with Blackpool, where Valeri Belokon, who had a 20% shareholding, won £31 million off the major shareholder, the Oystons?
    https://www.theguardian.com/football/2017/nov/06/oystons-blackpool-ordered-pay-shareholder-high-court-valeri-belokon
     
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  11. Offcomedun

    Supporter ⚽ P.L.25/26 Entrant P.L. 20/21 3rd Place

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    Listen Monkey, I don't appreciate being bracketed with Park as a completely uncritical happy clapper.

    Nor do I think that Bruenker is good enough to be a L1 target man but, frighteningly, he's the only one we've got at present. We've been trying to play without one all season, which would be fine except that we also have no wingers available either, and we're not good enough to pass through teams on the deck, so the ball just bounces straight back at us off opposing CBs. Bruenker quite literally won more headers in that one game than Doyle and Miller have won between them all season. It was the only game I've seen where opposing CBs didn't get an armchair ride all afternoon.

    He may well have been hopeless at Luton - as I say, he isn't a L1 standard player so he is going to be inconsistent. But against Oxford he did make a difference and only the most jaundiced curmudgeon could deny that.

    The evidence of my own eyes tells me that he did play a role in our two goals. He won a header that led to the corner, which we scored from. He also won a flick-on early in the move for our second goal, as you have admitted. Although neither were direct assists, both headers help set up attacks that led to goals. In previous games, without Brunker winning those headers, the ball would have come straight back at us from their CBs, as it has all season, so the goalscoring opportunities would have never happened. If you can't appreciate or acknowledge that reality then that's your blinkered problem. Bizarre really.

    He also should have had an assist for a goal that was scored directly from his header in the box and wrongly disallowed for offside. Hardly his fault that the lino got it wrong.

    The fact that lots of others liked my post shows that not everyone has your tunnel vision and can see the bigger picture.

    Am I happy that Bruenker is our only big forrad? Of course I'm not. Do I think we need better? Yes, urgently. But do I stand by the evidence of my own eyes that he was an important part of our win over Oxford? Damn right I do.
     
  12. ahar964

    Supporter ⚽ P.L.25/26 Entrant

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    Well said and I agree. It will be interesting to see if he starts the next match as we performed well against Peterborough without him.
     
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  13. Offcomedun

    Supporter ⚽ P.L.25/26 Entrant P.L. 20/21 3rd Place

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    I was at the Peterborough game. We performed well defensively but TBH we looked as powder puff and ineffective going forward as we have in most other games this season.

    I doubt that Hopkin will start with Bruenker at Posh tomorrow. Last Saturday we had an attacking formation which worked well at home against Oxford. Away at Posh is a different animal. I expect Hopkin to play it tight with an extra midfielder and have Bruenker on the bench as an option if needed.
     
  14. Jay

    Jay Impact Sub

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  15. Stafford Bantam

    Staff Member Moderator Supporter

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    The case focused on "unfair prejudice" against a minority shareholder. There is much information on this case, on the internet, and how the rights of minority shareholders are protected; here is one example:
    https://www.harrison-drury.com/business-law/sectors/sports/blackpool-fc-relationship-majority-minority-shareholders/

    Like it or not Edin, as a minority shareholder, does have certain rights and protections and the Club (Stefan) will have to deal with Edin accordingly. As has been mentioned by others, Edin will also have rights as an employee and these, too, will need to be addressed.

    Hopefully, this can all be sorted sooner rather than later.
     
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  16. RonnieBrown

    RonnieBrown Emergency Backup

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    A big query, from me here ...........

    As a 'base' employee, I had no, or limited rights regarding redundancy or annual bonuses, if I had served less than 24 months - Even so - On those few occasions where I qualified, my rights were dependant upon 'time served'. Rahic has been 'on the books' for less than 3 years .............

    My last employment within Bradford saw me engaged as a Technical Engineer for over 10 years. They could not sack me, nor make me redundant. However - Via ACAS, my employer 'bought their freedom' (Thank you very much ;) ).
    I received a pay off much greater than any redundancy package could offer, and to refuse could have made my life difficult.

    I don't understand the mechanics of all this, but perhaps @Dennis@Dennis could help ?
    Is there a cheap and viable option to oust ER (as a Director) from VP, Dennis ?
     
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  17. Dennis

    Staff Member Moderator Supporter

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    Given the organisational structure and Rahic being the only director (yes, he really is!) of the 3 club companies, I doubt this can be done overnight and could be strung out by Rahic if he chose to do so. But getting rid of him from his directorships doesn't resolve bigger and probably more complex issues. He is a shareholder holding 22.5% of the shares of the German HoldCo and him also having some form of employment contract as an employee of the club. And without knowing what is in the shareholder agreement between Rahic and Rupp, Rahic's own employment contract, etc I doubt anybody could realistically assess the timescales. And that's before the question of who will buy his shareholding at whatever price is even discussed!
     
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  18. Mike Hunt

    Mike Hunt Impact Sub

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    Everything can be solved with a large enough cheque. That’s what it boils down to.
     
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  19. Dennis

    Staff Member Moderator Supporter

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    It undoubtedly will! But whether Rhodes (if he is the mystery investor) and Rupp are willing to sign their respective cheques for the amounts Rahic is expecting, will I suspect be a matter of some negotiation!
     
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  20. Bronco

    Supporter ⚽ P.L.25/26 Entrant World Cup 26

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    If its a German company would it fall within British employment law, would it be German employment law or would it be under EU employment law ?.
     
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