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

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Pinchy said:
I don’t particularly bat for Diane Abbott or Jeremy Corbyn mate, but it’s a bit rich to hurl all the derision at the opposition when we have such complete buffoons actually in office and ‘running’ the country with Johnson and Smogg biding their time in the wings. They are the people who worry me.

I agree, however, that McCabe is the devil incarnate and eats babies alive.
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Exactly. And they're still ahead in the polls. Imagine what the Tories could achieve if they weren't also in the middle of a civil war. It's frightening.

Two at a time I hear.
 
Esablade said:
The point still stands that, to me, it looks like McCabe tried to fuck Princey over and get full control on the cheap...Princey has got the face on and apparently found a way round the option to buy the assets.
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But it meant that the Prince also had the opportunity to get full control on the cheap........
All he had to do was pay market rate for the buildings which McCabe had already paid for.
As said before, HRH would then be in sole control of a club on the doorstep of the PL.
Why do you think McCabe was trying to 'fuck Princey over'?
Surely this scenario was the very heart of the deal in case a disagreement ever arose?
 
Harrisblade said:
But it meant that the Prince also had the opportunity to get full control on the cheap........
All he had to do was pay market rate for the buildings which McCabe had already paid for.
As said before, HRH would then be in sole control of a club on the doorstep of the PL.
Why do you think McCabe was trying to 'fuck Princey over'?
Surely this scenario was the very heart of the agreement in case a disagreement ever arose?
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McCabe set the rate for the shares...if Princey does get the club on the cheap he’s only himself to blame.
Princey doesn’t want to buy the buildings...still, market rate plus £20 million ‘compensation’ remember....

Re: fucking him over.

I think McCabe thought Princey wouldn’t/couldn’t buy the assets so with the Russian roulette deal in place he could get 100% of the club for £5 million. If Princey did buy the assets we’re looking at what, 50 million?
Who knows but win-win for McCabe...

The plan seems to have backfired with Princey buying the shares through a new company and wanting to lease the assets as the club does presently.
 
I cant see how anybody looking at this objectively can come to the same conclusions as you.

McCabe who’s run the club for however many years or the so-called prince who has shown no interest and seems to have been willing to force his agenda by letting the club face insolvency?

McCabe has his faults, we all know that. But I trust him one hundred percent with the future handling of our club, particularly when compared to whatever the alternative might have in store.
 
FATTYFOULKE said:
I cant see how anybody looking at this objectively can come to the same conclusions as you.

McCabe who’s run the club for however many years or the so-called prince who has shown no interest and seems to have been willing to force his agenda by letting the club face insolvency?

McCabe has his faults, we all know that. But I trust him one hundred percent with the future handling of our club, particularly when compared to whatever the alternative might have in store.
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Thanks, I am looking at it objectively.

.And as I’ve many times I’d rather have McCabe in charge than Princey....still, it doesn’t help when people say stuff like ‘he’s going to sell off the ground’ when he can’t because of the lease.
 
Sean Thornton said:
Why would you expect a better return than £5m on a loss making business that you've had to help shore up? That you're a 50/50 partner in, no doubt having an equal shout and have, to a great extent, failed. Why does he deserve his money back, let alone shoukd have a profit? His investment has cost him money. It happens every day all over the world.

Basically your argument says McCabe deserves all he gets but the Prince, since 2013 an equally bad businessman, deserves our sympathy? Really? And you talk about agendas?
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I use the word agenda only to throw it back at the current trend of saying anybody who says anything against the word of god has one.
My argument isn't McCabe deserves what he gets my argument is the prince has a very valid position in not bending over and taking it with the 5m.
There will be a compromise.
 
Well I’ve read through this, and I’m pretty much non the wiser as to what the hell is actually going on.
I gather KM wanted shot of the prince as he’s basically not got the money to keep “investing” (ie losing it) so tried to force his hand using some part of the original contract to see him takeover or do one.
Prince figured a way out of that.
Since his arrival, The Prince has chucked £17m to the wall along with KM just getting us to where we are now. KM has offered the Prince £5m for his shares.
Right so far I hope.

Anyway, looking at it solely on the money, I’ve seen people stringing up KM suggesting he’s taking the piss offering “just” £5m.
Well as I see it, the Prince is a fool for not taking it!
That will reduce his losses to only £12m, and increase KMs to £22m (since the partnership began). If he stays or takes over, his losses will be millions again this season.

The risk the Prince took of course was that he would chuck some money in, the club makes the premier league, and he sells his shares on for a nice little profit!! Well the concern is what happens when/if we fail to get promotion in a reasonable time frame?
Does he accept the losses and keep losing money, sell it on and swallow the losses or make huge cuts to balance the books?
I suspect it’s the last option as he’s not got the money to lose!

So all in all it’s a mess. I personally am a believer in better the devil you know. And for all his errors, and mismanagement over the years leading to some major star players NOT being took advantage off on the playing side he’s still for me to be trusted when compared to the prince. The prince from the start made it clear he wanted to make money. Nothing else. At least KM has the background and love for the club.
 
After reading a few posts on this thread.
It seems perfectly clear that McCabe and the prince are no further forward in resolving this boardroom farce??.
I just wish that either the prince or McCabe would just tell us how they intend to resolve this current standoff??.
Oh well. Perhaps we might get an answer by the start of the 2038/39 season?.
Here’s hoping for a good season anyway.
I’ll be there to cheer the lads. UTB.
 
Pinchy said:
I don’t particularly bat for Diane Abbott or Jeremy Corbyn mate, but it’s a bit rich to hurl all the derision at the opposition when we have such complete buffoons actually in office and ‘running’ the country with Johnson and Smogg biding their time in the wings. They are the people who worry me.

I agree, however, that McCabe is the devil incarnate and eats babies alive.
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Twats the lot of them, whatever the colour of their Rosette. The latest fucking bright idea from the Forrest Gump appreciation society we have in power, apparently some Supermarkets are running short of food, especially fresh food. "Brexit" is being blamed. The Governments bright idea is for Supermarkets to stockpile food to alleviate things. One problem with that, the Supermarkets don't have the capacity to do that. Supermarkets, like many businesses, see storage space as dead space that still has a cost. This is why they use an "on time delivery" system. Such systems are fine when everything is pointing the right way, but its as fragile as a pie crust, so if things go sideways the shit will hit the fan.

I'd better try and bring this back on topic. The more I hear, the more I think The Prince should just do one quite honestly. The way our club is heading is almost as scary as the prospect of queueing outside Morrisons for whatever is left on the shelves.
 
Liverpool blade said:
After reading a few posts on this thread.
It seems perfectly clear that McCabe and the prince are no further forward in resolving this boardroom farce??.
I just wish that either the prince or McCabe would just tell us how they intend to resolve this current standoff??.
Oh well. Perhaps we might get an answer by the start of the 2038/39 season?.
Here’s hoping for a good season anyway.
I’ll be there to cheer the lads. UTB.
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It’s going through the courts and will follow due process. We’re on that conveyor belt now so it will be resolved. As I understand it a decision is slated for next summer. Given they’ve agreed a budget for the season and Stephen Bettis has been brought in to keep Wilder happy and interface with the Owners, I think the current situation is as well managed as it could be given the circumstances. It shouldn’t impact on the playing staff.
 



Grizzly blade said:
Well I’ve read through this, and I’m pretty much non the wiser as to what the hell is actually going on.
I gather KM wanted shot of the prince as he’s basically not got the money to keep “investing” (ie losing it) so tried to force his hand using some part of the original contract to see him takeover or do one.
Prince figured a way out of that.
Since his arrival, The Prince has chucked £17m to the wall along with KM just getting us to where we are now. KM has offered the Prince £5m for his shares.
Right so far I hope.

Anyway, looking at it solely on the money, I’ve seen people stringing up KM suggesting he’s taking the piss offering “just” £5m.
Well as I see it, the Prince is a fool for not taking it!
That will reduce his losses to only £12m, and increase KMs to £22m (since the partnership began). If he stays or takes over, his losses will be millions again this season.

The risk the Prince took of course was that he would chuck some money in, the club makes the premier league, and he sells his shares on for a nice little profit!! Well the concern is what happens when/if we fail to get promotion in a reasonable time frame?
Does he accept the losses and keep losing money, sell it on and swallow the losses or make huge cuts to balance the books?
I suspect it’s the last option as he’s not got the money to lose!

So all in all it’s a mess. I personally am a believer in better the devil you know. And for all his errors, and mismanagement over the years leading to some major star players NOT being took advantage off on the playing side he’s still for me to be trusted when compared to the prince. The prince from the start made it clear he wanted to make money. Nothing else. At least KM has the background and love for the club.
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Good post and I’m sure/hope they strike a deal where Princey can walk away.

Obviously Princey isn’t keen on cutting his losses for £5 million. I guess he’d rather keep 50% of a top end Championship club, with the chance of 100% ownership.

From reading the reports, I don’t think he’s under any obligation to chuck more money at it either, so with not having the same emotional ties to the club as McCabe, he could try and sit this out.

As I said, If McCabe had gone to the bloke in good faith and maybe even offered him his original £10 million back with a thanks for his help, it might have been a different story...as it stands now we have two antagonised businessmen digging their heels in.

Bottom line is Princey has something McCabe wants, he’s going to have to up the price or battle through the courts...no one is willingly to pay the price McCabe wants for the club and if Princey wins out on a technicality this would dwarf all McCabes ‘past mistakes’.
 
South Bucks said:
Allegedly number 85 on Forbes
https://www.forbesmiddleeast.com/en/list/the-world-richest-arab-2013/item/86/
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If that is true, then that is barely anything really. Equal to £110.25 million. Obviously I would love to have that much money, but in footballing terms...

I have just seen that is from 2013 though, so probably even less now then too??

Compared to Mccabe (family) in this article from 2016, £97 million.
https://www.insidermedia.com/insider/yorkshire/rich-list-countdown-reaches-100m-fortunes
 
Blade58 said:
Less £17m :(

Like KM, not enough to be running a football club that has designs on reaching the promised land
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Indeed and I would guess most of that wealth is tied up in investments so he might not have enough cash for a takeover unless others get involved or loans are taken out. Stock exchange data suggests the paper business has been going through hard times also.

A bit of maths for fun.
Club leases the ground for 250 k pa.
Historical 14 year average commercial UK property returns are about 6.3% pa.
So a potential investor might look at 250 k and say its the same as having a 4 million property asset earning 6.3%.
We've seen from the docs there is a reported 20 million hit because the club lease is discounted below market rates.
This would suggest a perceived asset market value of 24 million which would need to charge 1.5 million pa in rent to generate 6.3% pa.

24 million doesn't sound massively expensive to me so for about 29 million HRH et al could have had the club and assets but chose not to.
 
Pinchy said:
Another cheap shot at a politician not in government whist cheerfully allowing the incompetent Tory loathsome slugs lurch the nation from chaos to crisis and back again.

View attachment 42222

A Tory.
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Mate I’m in no way a Tory but please don’t try to claim Diane Abbott is a good example of what Labour would bring to government, if she is god help us!
 
South Bucks said:
Indeed and I would guess most of that wealth is tied up in investments so he might not have enough cash for a takeover unless others get involved or loans are taken out. Stock exchange data suggests the paper business has been going through hard times also.

A bit of maths for fun.
Club leases the ground for 250 k pa.
Historical 14 year average commercial UK property returns are about 6.3% pa.
So a potential investor might look at 250 k and say its the same as having a 4 million property asset earning 6.3%.
We've seen from the docs there is a reported 20 million hit because the club lease is discounted below market rates.
This would suggest a perceived asset market value of 24 million which would need to charge 1.5 million pa in rent to generate 6.3% pa.

24 million doesn't sound massively expensive to me so for about 29 million HRH et al could have had the club and assets but chose not to.
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I thought Princey would have to pay

The £5m for McCabes shares

the £20m compensation

more than £20m for the real estate

on top of the £17m already blown

which dont look so pretty, probably half of his wealth
 
South Bucks said:
Indeed and I would guess most of that wealth is tied up in investments so he might not have enough cash for a takeover unless others get involved or loans are taken out. Stock exchange data suggests the paper business has been going through hard times also.

A bit of maths for fun.
Club leases the ground for 250 k pa.
Historical 14 year average commercial UK property returns are about 6.3% pa.
So a potential investor might look at 250 k and say its the same as having a 4 million property asset earning 6.3%.
We've seen from the docs there is a reported 20 million hit because the club lease is discounted below market rates.
This would suggest a perceived asset market value of 24 million which would need to charge 1.5 million pa in rent to generate 6.3% pa.

24 million doesn't sound massively expensive to me so for about 29 million HRH et al could have had the club and assets but chose not to.
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I cant fathom out what HRH get's out of only owning the football side but not the assets?

He sees us as an investment only, so winning promotion and only owning the football side of things, wouldn't that see him at a disadvantage if wanting to move a Premiership club on at a vast profit?
 
Yellarbellyblade said:
Mate I’m in no way a Tory but please don’t try to claim Diane Abbott is a good example of what Labour would bring to government, if she is god help us!
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Dianne Abbott?

Doesn't bear thinking about

God help this country if she ever ends up Home Secretary
 
Blade58 said:
I cant fathom out what HRH get's out of only owning the football side but not the assets?

He sees us as an investment only, so winning promotion and only owning the football side of things, wouldn't that see him at a disadvantage if wanting to move a Premiership club on at a vast profit?
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Me neither, makes no sense if its purely football related as the assets are then just the players and its not as if we have lots of valuable starlets coming through to cash in on later.
What does add up to me is if its part of a careful plan to get the assets later on the cheap and then sell the lot on for a higher price.
If Party B wins the main case the assets will be worth peanuts to anyone else with a long term tenant on a low lease rate in place so the owner can be screwed down to a much lower price and then when owning all, change the lease.
 
mattbianco1 said:
Sounds like KMc was using it to slag off a bloke who wasn't in attendance.

I'm not entirely comfortable with public bitching, especially when there's a legal battle going on.
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I also think the criticism of Abdullah’s lack of attendance is disingenuous, given that as someone that splits their time between LA and Saudi Arabia it was never expected at the outset of the original agreement that he would attend, and particularly given there was a period when McCabe (living in Belgium at the time) went missing for long periods over the years. His lack of attendance has never been an issue while we’ve been doing ok and the money has been coming in.

Similarly, I’ve seen a few people criticising Abdullah for not being a billionaire, despite the fact that he’s never claimed to be, and said when interviewed the day he was announced “I’m not a billionaire”.

There’s plenty of concern about what’s going on without rewriting what’s happened to date to give it a slightly biased retrospective slant.
 



mattbianco1 said:
Sounds like KMc was using it to slag off a bloke who wasn't in attendance.

I'm not entirely comfortable with public bitching, especially when there's a legal battle going on.
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He has no right to be in attendance. He's not an SUL shareholder. He can hold his own meeting if he so wishes.
 
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