First of all thanks macca for your post, can't quote it as I read it on the other page and can't be bothered to trawl back for it!
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Originally Posted by Doug
This might be me getting it all arse about face; so forgive me if I’m wrong. It appears to me that if Mr. O’Neil wants the financial assistance of the ASSF he first must sell them or exchange a controlling percentage of his share holding, therefore increasing what can only be a substantial loss. If this is the case, then it’s paramount to blackmailing the gentleman and the club; If the money mentioned is there as part of a rescue package; should the worst happen, then the ASSF should in fact bail out the club with the excise man and take an alternative settlement for the money i.e. a “for life” seat on the board with a high percentage free vote and perhaps advertising rights to a small area of the ground so that it can be use to recoup the funds used. Just a thought.
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That's along the lines of how I understand the situation. Well put Doug.
Quote:
Originally Posted by JEFF
As stated earlier in the thread - Accrington Stanley is a business. It is a business owned by David O'Neill. David O'Neill's business (Accrington Stanley) is in a financial mess. If David O'Neill wants investment in his business to save it from going under, he must give something in return. Look at Dragons's Den - the Dragons invest in return for a percentage of the business. If David O'Neill does not get investment in his business it is likely to go into administration at least, and he will end up with nothing. I am sure that he will be better off owning a percentage of a business worth something than all of a business worth nothing. I don't know how much he paid Eric for the shares but on paper I would imagine that they were worth nothing. The club has very few assets and a debt to Revenue & Customs of over £300K this would probably make the shares worth less than nothing. Nobody is going to GIVE money to help an ailing business, but people may invest in the business if they get something in return.
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Jeff, I was under the impression that the ASSF were a 'fighting fund' with words such as 'rescue' banded about, not a company of investors.