Agm

[lenners]

Interesting but actually quite low key.
The Pie Man has gone for good - retired.
Only £1.5m received from West Ham up until June and payments to be accelerated if they're taken over, as per the agreement.
Rugby league deal not get agreed - three matches would be played this season if it is.
McCabe unimpressed with WC decision (miffed that our plans were self-funded) and Simon Argyle hinted that United would be ready to step in if SWFC run into difficulties.
Still looking for investment but definitely not a takeover. McCabe said we were a better bet than Wednesday, with better infrastructure etc.
Kop expansion still on the cards but only allied to promotion.
Downbeat overall but a few notches above suicidal.

 

[Sothall_Blade]

What was said about Ron Reid moving to Hungary? Why is he going? Who will replace him?

It seems a strange move to me as I got the impression he was doing a good job. Judging by the likes of Naughton and Walker at least.

 

[Flatulent_Bob]

Interesting but actually quite low key.
1.)The Pie Man has gone for good - retired.
2.)Only £1.5m received from West Ham up until June and payments to be accelerated if they're taken over, as per the agreement.
3.)Rugby league deal not get agreed - three matches would be played this season if it is.
4.)McCabe unimpressed with WC decision (miffed that our plans were self-funded) and Simon Argyle hinted that United would be ready to step in if SWFC run into difficulties.
5.)Still looking for investment but definitely not a takeover. McCabe said we were a better bet than Wednesday, with better infrastructure etc.
6.) Kop expansion still on the cards but only allied to promotion.
Downbeat overall but a few notches above suicidal.

1.) Good, his last piece of business was a good one to go out on.
2.) Only £1.5 received? So the YP were full of shit then, what a surprise.
3.) I think that deal is a decent one for the club. RL doesn't rip up the pitch like RU does.
4.) That would be fucking hilarious. Still would like to know what Wednesday have to cough up though.
5.) Pretty much what we all thought (apart from Beighton)
6.) I thought if we were looking good in January this was being done? Has that now changed?

 

[lenners]

What was said about Ron Reid moving to Hungary? Why is he going? Who will replace him?

It seems a strange move to me as I got the impression he was doing a good job. Judging by the likes of Naughton and Walker at least.

There were one or two comments about the playing style at the academy being nothing like that for the reserves or first team and that we don't seem to be getting any players as a result of the overseas stuff.
McCabe actually asked one shareholder to send the club a note of his contribution to take up as regards academy issues.
Reid is going to Hungary to oversee the academy etc but it didn't sound as if he was out of the academy picture completely over here.
But generally it did sound as if a rethink of the academy/overseas stuff is now underway.
McCabe suggested one or two younger players could be heading for the first team next season.
He also said no option but to sell the Kyles but we knew that anyway.

 

[Flatulent_Bob]

From my understanding Reid is going to Hungary (or leaving as he isn't happy about it) and that Smith is to take a more hands on role of the kids.
In my opinion putting Mark Smith anywhere near the kids is a bad move.

 

[lenners]

1.) Good, his last piece of business was a good one to go out on.
2.) Only £1.5 received? So the YP were full of shit then, what a surprise.
3.) I think that deal is a decent one for the club. RL doesn't rip up the pitch like RU does.
4.) That would be fucking hilarious. Still would like to know what Wednesday have to cough up though.
5.) Pretty much what we all thought (apart from Beighton)
6.) I thought if we were looking good in January this was being done? Has that now changed?

2) Not sure it's as simple as that. I think all the money may have been included on paper, up front, to present a better picture than would otherwise be the case.
Perhaps some accountants on here could clarify.
6) McCabe said we're betwixt and between at the moment as regards league position and can't argue with that. In the current climate we would be mad to embark on the kop development until we've actually got promoted.

 

[Robbie]

and that Smith is to take a more hands on role of the kids. In my opinion putting Mark Smith anywhere near the kids is a bad move.

This just sounds so wrong in so many ways hahahaha

 

[Micalijo]

1.) Good, his last piece of business was a good one to go out on.
2.) Only £1.5 received? So the YP were full of shit then, what a surprise.
3.) I think that deal is a decent one for the club. RL doesn't rip up the pitch like RU does.
4.) That would be fucking hilarious. Still would like to know what Wednesday have to cough up though.
5.) Pretty much what we all thought (apart from Beighton)
6.) I thought if we were looking good in January this was being done? Has that now changed?

Bit harsh on YP Bob.

The accounts have recognised income of £18m from WHU. This prevents a £12m loss. I don't recall YP saying we had received £18m cash up front but I suppose you could read it that way. I assume you thinkw e have received £18m cash from WHU?

You do know don't you that the first £8m or so is going to Scarboro?

 

[lenners]

Bit harsh on YP Bob.

The accounts have recognised income of £18m from WHU. This prevents a £12m loss. I don't recall YP saying we had received £18m cash up front but I suppose you could read it that way. I assume you thinkw e have received £18m cash from WHU?

You do know don't you that the first £8m or so is going to Scarboro?

But isn't that also a bit misleading?
United owe money, get money in and pay off some of those debts - which does still mean it benefits United.
Some of the debt is to McCabe and some of it will be paid off.

 

[super_pig]

>There were one or two comments about the playing style at the academy being nothing like that for the reserves or first team

yeah well ron teaches people how to play football and not boot the ball aimlessly in the air.. bootwell is even going to wreck the academy now.:thumbdown:

 

[Mousey]

>There were one or two comments about the playing style at the academy being nothing like that for the reserves or first team

yeah well ron teaches people how to play football and not boot the ball aimlessly in the air.. bootwell is even going to wreck the academy now.:thumbdown:

It's Blackwell's fault that Ron Reid is going to Hungary??? :loopy:

 

[Micalijo]

But isn't that also a bit misleading?
United owe money, get money in and pay off some of those debts - which does still mean it benefits United.
Some of the debt is to McCabe and some of it will be paid off.

Yes - agreed. I get the impression that McCabe and Scarboro ploughed some money in the summer after the WHU win and before WHU started paying. Thuis allowed us to maintain a high budget in CCC terms and now we will also be getting cash for the Kyles. This cash goes towards paying Scaraboro and McCabe back.

Wasn't trying to mislead. I don't want Bob getting the impression that the WHU money will go towards signing a £2m centre-back for example - it won't.

 

[tomtheblade]

Downbeat overall but a few notches above suicidal.

Are you talking about the agm here or yourself, len?

 

[Worksop II]

Is the settlement from Wham changed if they get relelgated, do they pay less if they go down this year ?

Anyone know

 

[lenners]

Is the settlement from Wham changed if they get relelgated, do they pay less if they go down this year ?

Anyone know

Wasn't mentioned but I'll be amazed if it does.
McCabe mentioned that they'd covered the administration issue (it would still have to be paid in full as a football debt) and the only non-payment would be if West Ham were liquidated which they'd judged was very, very unlikely.

 

[Highbury_Blade]

Was anything mentioned about the fact that without the Tevez money in the accounts we would have recorded a 12m loss? I'm no accountant but i don't see how consecutive 12m losses are sustainable.

 

[lenners]

Was anything mentioned about the fact that without the Tevez money in the accounts we would have recorded a 12m loss? I'm no accountant but i don't see how consecutive 12m losses are sustainable.

It wasn't but then we've already got £8m from selling the two Kyles and cut the wage bill further so I doubt we'd be in the same situation next year.

 

[Wards]

It's Blackwell's fault that Ron Reid is going to Hungary??? :loopy:

You'd be surprised. Blackwell has been trying to oust Reid, Fogg et al for some considerable time.

 

[Worksop II]

Wasn't mentioned but I'll be amazed if it does.
McCabe mentioned that they'd covered the administration issue (it would still have to be paid in full as a football debt) and the only non-payment would be if West Ham were liquidated which they'd judged was very, very unlikely.

The indication I get from Wham Fans is that, if they go down they can take comfort from SUFC having the payments reduced, though they cant come up with any figures, or facts.

Then again I cant refute it, I have to admit if they did go down it would reduce their capacity to repay that amount of money, which aint our problem, but it must have cropped up in the settlement.

 

[Balham]

I'll try and explain the West Ham thing: it's prudent to account for income in the period in which it's earnt: so as the West Ham decision occurred in 2009-10, we need to account for it all. It may well be that the payment is split or delayed so the £1.5m up front is equally likely to be true.
£18m after fees isn't too shabby though, it's just a pity that we're looking set for perennial disappointment option a) failing to make the play-offs or b) losing at Wembley.

 

[lenners]

The indication I get from Wham Fans is that, if they go down they can take comfort from SUFC having the payments reduced, though they cant come up with any figures, or facts.

Then again I cant refute it, I have to admit if they did go down it would reduce their capacity to repay that amount of money, which aint our problem, but it must have cropped up in the settlement.

Cant see it Worksop. It'd be like a transfer fee they owed, I doubt other clubs would agree to lower payments just because they went down.

 

[Worksop II]

Cant see it Worksop. It'd be like a transfer fee they owed, I doubt other clubs would agree to lower payments just because they went down.

It depends what the settlement said tho`

Was it covered?

Someone will be in the know

 

[lenners]

It depends what the settlement said tho`

Was it covered?

Someone will be in the know

Not covered but it's doubtful. The only caveat ever mentioned is that if they're taken over, the money comes more quickly.

 

[NN6]

Knowing what their financial position was re the Icelandic owners SUFC PLC would have been stark raving mad to allow any clause that reduced payments if they were relegated!!

 

[Flatulent_Bob]

It's Blackwell's fault that Ron Reid is going to Hungary??? :loopy:

It is actually, it is Blackwell who is trying to get more control over the academy.

 

[Trigger Blade]

Not covered but it's doubtful. The only caveat ever mentioned is that if they're taken over, the money comes more quickly.

I've been in the same room as len! Did you ask a question? Were you the good-looking one near the front? Or were you the one who wants the chance to meet up with fellow shareholders at matches

I suspect United covered a whole load of scenarios in the agreement with West Ham. One that was mentioned this morning was that if WH went into administration, as a fellow League cluib, SUFC would be a preferential creditor and that West Ham could not come back into league football until the debt is cleared.

I'm surprised that you're being quite supportive of the regime, there were a couple of things to be critical of in my view. Firstly, McCabe says we're doing quite well, we're not quite there yet, but we keep knocking on the door of the PL. Is that really good enough?

Secondly, we had a deal on the go with Sao Paolo, but our intermediary sadly died early this year, so we don't have anybody to talk to and it's all gone quiet. What kind of partnership is that if it folds on the death of a middle man?

 

[lenners]

I take all the foreign stuff with a pinch of salt Trigger.
The only one with any real potential benefit to SUFC as far as I can see is Chengdu.
If and probably when football takes off in China, that will be a useful asset.
The rest is just guff - Hungary is mainly McCabe-related though I do believe they think there are potential benefits from the playing side.
At the moment, there's not a great deal more he can do and he must have been gutted about the WC.
Thought he reined himself in pretty well on that one and certainly acted with more grace than his counterpart across the city.
Interesting that it sounds like potential investors across the city may want Strafford out and their own people in. Might be quite a dilemma coming up.

 

[Flatulent_Bob]

We also should bear in mind we don't own anything to do with Hungary or the Aussies. The only team Sheffield United own are Chengdu.

 

[londonerblade]

I really wanted to come today but because of the weather i thought it was not worthwhile driving slow all the way up from the M1 in London.

Lenners or anyone Did McCabe or any shareholders mention about this deal where the directors guarantee to buy any shares back for a year....I have being trying to sell some of mine since july and none of the directors have bought since then according to the JP Jenkins website

 

[Worksop II]

I take all the foreign stuff with a pinch of salt Trigger.
The only one with any real potential benefit to SUFC as far as I can see is Chengdu.
If and probably when football takes off in China, that will be a useful asset.
The rest is just guff - Hungary is mainly McCabe-related though I do believe they think there are potential benefits from the playing side.
At the moment, there's not a great deal more he can do and he must have been gutted about the WC.
Thought he reined himself in pretty well on that one and certainly acted with more grace than his counterpart across the city.
Interesting that it sounds like potential investors across the city may want Strafford out and their own people in. Might be quite a dilemma coming up.

They are getting done for match fixing !!!!:thumbdown: