Quote:
Originally Posted by Revived Red
Many thanks to all those involved with the meeting and with the proposals. Thanks for passing on all the information, especially to those of us who are prevented by distance from being as involved as we would like.
At the risk of seeming a total idiot, I'm not sure how the proposals are to be aligned with the club's present debts. If the aim of the new company is "to seek a greater control of the club through board representation and/or share issue", what are the mechanics by which this will take place? "Working with us we can all manoeuvre the club into a healthier position where his (Eric's) shares will be worth something" - again, how will this happen?
Apologies if this is obvious to everyone else.
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My understanding RR is - and please put me right if I am wrong anybody else who was there - the club is at the moment worthless, therefore so are EW's shares. Having a company set up, with the sole purpose of raising/generating funds/capital for Accrington Stanley should in the future mean that the club has value therefore so do EW's shares!. These funds are to be used for players Etc. Not to buy-out EW. Buying out EW does not put money into the club, which is the aim of the new company. I believe that the club will sort out the HMRC debt with FL2 cash, plus on-going payments, leaving the club OK at the moment, but maybe tight for cash in the coming season, enter the new company funds.. It is hoped that the fact that the club is operating almost debt free that we can attract other sponsorship Etc. Espescially when the club moves out from this cloud, then the betting scandal, Stevie G punch-up and the take over that never was... We know there are a lot of if's, whys and wherefores, but that is the general idea.. Please correct anything that I have gotten wrong
