Quote from: Quinn Upstone on November 28, 2024, 01:59:30 PM

Quote from: Blue_and_Gold on November 27, 2024, 07:51:07 PM

Quote from: Quinn Upstone on November 27, 2024, 07:30:02 PM

I'm not usually stuck for words...but what the (insert your own expletive) is going on at our club ?????

Just when it looked like things were getting back on track with Joe, Cleeve is trying to flog our club behind our backs. Or bits of it. Why didn't he let supporters know or speak to the trust ?

And I simply don't believe that such a small amount of debt can be accurate.

And I don't believe that Jo and/or Cleeve paid off thousands of pounds of debt, just to walk away with perhaps just a season ticket and a scarf as a momento !!!

So much for our improved media and Cleeve going quiet now appears to be a desperate hope that buyers won't do any due diligence.

Has all this just been done recently as a quick paint job hoping to cover up the cracks to put us on the market before it all falls down.

And never forget that he has the lease so he won't go quietly...

My take on the questions you raise.

1) His club, not ours. That's been made very clear.

2) The Trust are supporters. One and the same thing.

3) I don't think anyone has suggested that Jo has paid off any of the debts.

4) I guess the wording on debt is accurate when it says only 17k  of BANK debt. Other debt is not with the Bank.

5) Media can only go with information they are given. As long as they publish information as soon as they receive it, that's an improvement to what we had previously. If they weren't informed, they couldn't really inform us.

6) It's the Club (Lynn FC Ltd) that has the lease, not Cleeve.

7) Not sure about terming it a quick paint job in an attempt to cover up the cracks as nothing has really changed since day one. Some just choose to ignore things.

 

Thanks for your help with clarifying some of my thoughts. I'll try to respond to your points.

1) Unfortunately I agree with this one. I was so taken aback that I became delirious and entered a parallel universe where we actually had some control over the club.

2) It wasn't my intention to suggest that the trust members are not supporters of the club. I apologise for my clumsiness.

3) and 4) I agree with your analysis.

5) I agree that the current media setup is much better than it's been in a long time, which is to be applauded. My point here was a cynical suggestion that it has only been improved to impress any potential buyers.

6) Thanks for clarifying this one for me. Could you perhaps outline what impact this could have in the future i.e. post-Cleeve.

7) I'm perhaps sceptical about Cleeve's intentions. I believe that he's trying to create an imaginary club for buyers and he's being shady...at the very least.

6) The lease is an asset of the Limited Company (Lynn FC Ltd), and not a personal asset of Cleeve's. I doubt its of much use to anyone other than someone that want's to run a Football Club from it. I have no idea what value it has placed on it. The lease has been extended (so new investors could be found), so it has got the benefit of a long lease.

I would guess the stated book value could be quite high and form a sizeable % of what the Club is valued at. i.e. on paper probably one of, if not the, main assets.   

The problem here could be two parties agreeing what the true value of the lease (and any other asset) really is. Its true value will be debatable, even with the benefit of the rent being Peppercorn.

My thoughts are it will probably be one of the main points during discussions with any potential investors.

As with most things, the true value can only be ascertained when buyers and sellers agree a price.

Regarding your question regarding the situation "Post Cleeve", that depends why he has become "Post". If the lease reverts back to the Council, who knows what the outcome will be. They have hardly covered themselves in glory in the past, although there is fresh blood in there these days, so hopefully there would be some Blue Sky thinking.