Sat is a room with the biggest set of fools ever (shareholders)

[Maidenhead]

Why am I getting the feeling that some peoples anti McCabe agenda is so strong that they will accept anything just to get him gone?

I just don't get the hate.

 

[Fraggle Blade]

Another bit........someone asked the question, if McCabe sold up, where would all the money for property etc go?
His answer was that he would sort out the shareholders in a fair and appropriate way.
40 odd million for me...have a free beer shareholders....lol

 

[Sean Thornton]

This is in relation to the 1.6m payment which the Prince needed to pay the club, but it is alleged the Dr character actually paid this sum...i think.....but yes, it is relation to that loan

But didn't we repay it to HRH instead? And the other guy "wrote it off"?

 

[Sean Thornton]

Another bit........someone asked the question, if McCabe sold up, where would all the money for property etc go?
His answer was that he would sort out the shareholders in a fair and appropriate way.
40 odd million for me...have a free beer shareholders....lol

After all the loans to various McCabe vehicles have been repaid. Don't even think Liverpool

 

[Sean Thornton]

Don't worry, the Brooks money will cover that

It can't.

 

[Worksop II]

How does Kev get to control what happens to the club in the future?

Post #72

 

[Fraggle Blade]

But didn't we repay it to HRH instead? And the other guy "wrote it off"?

i'd have to read all the court docs and information again........lol
But i thought it was a loan that the Prince was due to make to the club, but he was late paying as he didn't have the cash and the other guy then stepped in and paid it on his behalf.

 

[Blade58]

What with the bloke living in Saudi/USA (?) I'm not sure 'lack of attendance' is much cause for concern, do you?

I'm asking you think the cause for concern is?
Previously you implied Princey might be 'rogue owner' who was going to sell the ground.

As I say, I don't know. I'm not itk, nor am I privy to what goes on behind closed doors, nor am I an account, lawyer, or anything to do with the club. But the fact KM makes the statement is a cause for concern in itself don't you think?

Or has McCabe got it totally wrong?

 

[Sean Thornton]

And that there my friend is exactly why we’re the last big club in the league not to have had a big money takeover, or ever will whilst he and his family have the club by the scruff of the neck.

The £20m is linked to the value of the property isn't it? If McCabe charged the market rent the property values would increase. That's how it works.

 

[Sean Thornton]

i'd have to read all the court docs and information again........lol
But i thought it was a loan that the Prince was due to make to the club, but he was late paying as he didn't have the cash and the other guy then stepped in and paid it on his behalf.

The last accounts show he loaned the club £3m during the year. It's confusing

 

[Esablade]

As I say, I don't know. I'm not itk, nor am I privy to what goes on behind closed doors, nor am I an account, lawyer, or anything to do with the club. But the fact KM makes the statement is a cause for concern in itself don't you think?

Or has McCabe got it totally wrong?

Yes, it is a cause for concern...

Particularly when you consider that McCabe is still willing to sell his share to someone he feels doesn’t have the clubs best interests at heart, if he stumps up the cash for the assets....don’t you think?

 

[SUFC Guy]

FAO Jim Phipps.

Hi Jim

Hope you are keeping well. Fellow Blades here. Would really appreciate your input into what's going on at BDTBL. You know the two characters involved so your insight and opinions on the whole matter would mean the world to us.
(To be fair most of us are not really bothered unless it starts affecting Chris and his team from achieving our fullest potential)

Yours Fellow Blades.

I don't think JimPhipps can comment if he's still employed by HRH. A great guy and would also love to hear his thoughts but can't see it happening tbh.

UTMB

Ps. Again unlikely but would like to see Jim employed by the club again in the future. A great ambassador and actually has fallen in love with the Blades. Bet he's loving our recent upturn like every other Blade out there.

 

[finlaytheblade]

May 2019?

And then presumably an appeal from whoever loses the case... FFS!

Not if an agreement is reached at mediation.The prince wants to buy the club on the .cheap,the rest including all property he Doasnt want which is alarming as the club could be moved anywhere just like the Wombles (Milton Keynes ).
When the deal was struck he would have been aware of the need to buy all property if he wantedf ull control,looks like he's trying to pull a fast one.
Do we want aan owner with no scruples ?
Definitely not!!
We must support McCabe to win through

 

[Sean Thornton]

This is the bit I struggle with:

"25 year lease at low rental rate £250000 per annum- depressed value - atm....Prince sees this is something to maintain rather than buy properties"

Am I right in thinking this means the club pays Kev £250k pa for rental on the ground? Or ground and Academy? Presumably we pay all the maintenance and upkeep and not Kev? Much of the investment in both has come through the club.

How much did Kev pay when he took over from McDonald?

That rent paid to SU Ltd is below market value. The skeleton arguments explains why that is the case. The football club pays for upkeep but nothing towards tangible improvements.

The football club does pay for upkeep but not for the debt attributed to the properties. McCabe and his companies are in for£40m as per the last accounts. The asset value is shown at £23m. Therefore even with the £20m uplift there's very little profit for McCabe and the other shareholders and there will be a further loss in the 2018 account reducing any profit further.

Posters ignore these facts no matter how many times they are posted, and ignore the accounts because it doesn't suit the agenda.

On top of this, if McCabe sells the shares in BL for £5m he's down around £38m Yes it's down to his decisions but let's not pretend he's making money on getting out. He isn't with the current situation.

If he buys HRH out, and has a buyer in the wings, he needs aroubd £85m to break even.

 

[Sean Thornton]

I don't think JimPhipps can comment if he's still employed by HRH. A great guy and would also love to hear his thoughts but can't see it happening tbh.

UTMB

Jims said more than once he's no longer in the employ of the Prince.

 

[Blade58]

Yes, it is a cause for concern...

Particularly when you consider that McCabe is still willing to sell his share to someone he feels doesn’t have the clubs best interests at heart, if he stumps up the cash for the assets....don’t you think?

P.S- McCabe

Yep that's a concern too

After 20 years of ownership under McCabe, is it wrong to think better the devil you know, or should we be happy to go with the Saudi Prince?

For me personally, I go with the lesser of two evils Esa

 

[SUFC Guy]

Jims said more than once he's no longer in the employ of the Prince.

Not in an SUFC capacity I know but wasn't sure if for any other reasons - as previous to joining us.

 

[Sean Thornton]

Not in an SUFC capacity I know but wasn't sure if for any other reasons - as previous to joining us.

I'm sure he's parted company,certainly for business matters.

 

[bladesmanluke]

It worries me that if the prince wins, it’s going to be very toxic regardless of what his true ambitions are for the club. He won’t stand a chance

 

[Bert]

Bert prefers Sheffield United to Sheffield '89ers.

 

[Snowman]

Snowman thinks Bert would accept 69 ers.

 

[Esablade]

Yep that's a concern too

After 20 years of ownership under McCabe, is it wrong to think better the devil you know, or should we be happy to go with the Saudi Prince?

For me personally, I go with the lesser of two evils Esa

I’d rather have McCabe as owner than Princey, primarily because I don’t want us to be run by the Saudi regime. ( secondly because the club is probably just an upmarket version of ‘Football manager’ to Princey)

But what I’m saying is none of your reason as to why you don’t want Princey really stack up.

To me it looks like McCabe is trying to ‘take Princey ‘round the corner’ and get him out on the cheap.

When he could have shown a bit of humility, explained that the partnership wasn’t working and that he wanted 100% ownership again, offering him his 10/17/20? million back with good grace instead of taking the piss with 5 million...

 

[BladeInIreland]

Seems like kevin is trying to put the pressure on the prince to make a mistake.

I get the impression the prince has the upper hand and has probably sensibly been told keep your mouth shut publicly till this is over.

Obviously pure guess work but it's not uncommon in situations like this for people to keep away from public comment. I just get the impression kev is trying to drum up support in a last attempt to dissuade the Prince.

 

[Blade58]

I’d rather have McCabe as owner than Princey, primarily because I don’t want us to be run by the Saudi regime. ( secondly because the club is probably just an upmarket version of ‘Football manager’ to Princey)

But what I’m saying is none of your reason as to why you don’t want Princey really stack up.

To me it looks like McCabe is trying to ‘take Princey ‘round the corner’ and get him out on the cheap.

When he could have shown a bit of humility, explained that the partnership wasn’t working and that he wanted 100% ownership again, offering him his 10/17/20? million back with good grace instead of taking the piss with 5 million...

As I say Esa, I don't know the in and outs and I'm not privy to owt. All I see is two joint owners infighting for control and I know which one I trust the most (or which one I trust the least)

 

[South Bucks]

Some pretty twisted interpretations of what it says in the skeletons and court documents on here today.

In essence, allegedly, Party B was 1.6 million behind Party A on funding by the end of 2016. Still hadn't been sorted by the end of 2017 when it all kicked off due to various disagreements and unpleasantness. Party A had enough of all this and wanted out and alleges it was duped into a low offer knowing Party B had the right to make an equivalent binding offer for the same price but B then pulled that unexpected "manoeuver".

Party A alleges circumstances surrounding non payment of the 1.6 m loan if it had gone on could have got us in trouble with a potential points deduction!!!!. Some allegations of B possibly engineering a situation to gain control on the cheap through this.

Recently Party A pushes for further investment in the team, Party B wants less investment.

Just read the documents, its pretty obvious whats going on and who the good and bad guys are.

By the way McC knockers, what he did with separating the assets from the team was just what any smart business person would do to guard against asset strippers later on and keep these out of their reach, just what I would have done, looks like no one was expecting that dodgy "manoeuver" though.

May well be that Party B doesn't want the assets cos they could invest the same money elsewhere in property and get a better return, footy clubs don't give a great return, and for a supposed billionaire to dodge buying the assets is another reason to doubt their good intentions and silence.

Doesn't smell good and please show the good guy some due respect, very clear who it is.

 

[Blade58]

and for a supposed billionaire to dodge buying the assets is another reason to doubt their good intentions and silence.

His personal wealth has always been listed as similar to McCabes. Don't think he's a billionaire. He's a self made business man. Making his wealth from paper manufacture

There are rich Saudi Princes. I don't think HRH is one of them

 

[Harrisblade]

Some pretty twisted interpretations of what it says in the skeletons and court documents on here today.

In essence, allegedly, Party B was 1.6 million behind Party A on funding by the end of 2016. Still hadn't been sorted by the end of 2017 when it all kicked off due to various disagreements and unpleasantness. Party A had enough of all this and wanted out and alleges it was duped into a low offer knowing Party B had the right to make an equivalent binding offer for the same price but B then pulled that unexpected "manoeuver".

Party A alleges circumstances surrounding non payment of the 1.6 m loan if it had gone on could have got us in trouble with a potential points deduction!!!!. Some allegations of B possibly engineering a situation to gain control on the cheap through this.

Recently Party A pushes for further investment in the team, Party B wants less investment.

Just read the documents, its pretty obvious whats going on and who the good and bad guys are.

By the way McC knockers, what he did with separating the assets from the team was just what any smart business person would do to guard against asset strippers later on and keep these out of their reach, just what I would have done, looks like no one was expecting that dodgy "manoeuver" though.

May well be that Party B doesn't want the assets cos they could invest the same money elsewhere in property and get a better return, footy clubs don't give a great return, and for a supposed billionaire to dodge buying the assets is another reason to doubt their good intentions and silence.

Doesn't smell good and please show the good guy some due respect, very clear who it is.

Didn't the skeletons also suggest that Party B was happy to let a debt go unpaid in order cause the club financial damage and FL action against us?

 

[BladeInIreland]

Some pretty twisted interpretations of what it says in the skeletons and court documents on here today.

In essence, allegedly, Party B was 1.6 million behind Party A on funding by the end of 2016. Still hadn't been sorted by the end of 2017 when it all kicked off due to various disagreements and unpleasantness. Party A had enough of all this and wanted out and alleges it was duped into a low offer knowing Party B had the right to make an equivalent binding offer for the same price but B then pulled that unexpected "manoeuver".

Party A alleges circumstances surrounding non payment of the 1.6 m loan if it had gone on could have got us in trouble with a potential points deduction!!!!. Some allegations of B possibly engineering a situation to gain control on the cheap through this.

Recently Party A pushes for further investment in the team, Party B wants less investment.

Just read the documents, its pretty obvious whats going on and who the good and bad guys are.

By the way McC knockers, what he did with separating the assets from the team was just what any smart business person would do to guard against asset strippers later on and keep these out of their reach, just what I would have done, looks like no one was expecting that dodgy "manoeuver" though.

May well be that Party B doesn't want the assets cos they could invest the same money elsewhere in property and get a better return, footy clubs don't give a great return, and for a supposed billionaire to dodge buying the assets is another reason to doubt their good intentions and silence.

Doesn't smell good and please show the good guy some due respect, very clear who it is.

Why does it have to be good guy bad guy? There both successful businessmen, they want to buy each other out as cheap as possible for there own gain, as would anybody.
I'm not clued up on all this, but wasn't the dispute about how they would invest, not how much? As in a loan or a gift? Which if I remember right it was the prince who wanted to gift?

 

[Snowman]

I’d rather have McCabe as owner than Princey, primarily because I don’t want us to be run by the Saudi regime. ( secondly because the club is probably just an upmarket version of ‘Football manager’ to Princey)

But what I’m saying is none of your reason as to why you don’t want Princey really stack up.

To me it looks like McCabe is trying to ‘take Princey ‘round the corner’ and get him out on the cheap.

When he could have shown a bit of humility, explained that the partnership wasn’t working and that he wanted 100% ownership again, offering him his 10/17/20? million back with good grace instead of taking the piss with 5 million...

No. You've got it wrong.

 

[Esablade]

No. You've got it wrong.

How?