LightDN123 Posted January 6, 2020 Share Posted January 6, 2020 Fucked up club arnt we Link to comment Share on other sites More sharing options...
Dick_Valentine Posted January 6, 2020 Share Posted January 6, 2020 I’m starting to think that it might have been better if we went bump in 2004. Where would the Phoenix club be now I wonder? Link to comment Share on other sites More sharing options...
RoytonLatics Posted January 6, 2020 Share Posted January 6, 2020 Thread posted on twitter from the QA Link to comment Share on other sites More sharing options...
sjk2008 Posted January 6, 2020 Share Posted January 6, 2020 Blitz believes Corney added a clawback clause (what this is based on is unknown) in the sale to Abdallah so in principle he sold him 97% but for whatever reason Corney has clawed back 22%.... Link to comment Share on other sites More sharing options...
Dave_Og Posted January 6, 2020 Share Posted January 6, 2020 1 minute ago, sjk2008 said: Blitz believes Corney added a clawback clause (what this is based on is unknown) in the sale to Abdallah so in principle he sold him 97% but for whatever reason Corney has clawed back 22%.... 0.5% for every complete duffer signed? Link to comment Share on other sites More sharing options...
GlossopLatic Posted January 6, 2020 Share Posted January 6, 2020 9 minutes ago, RoytonLatics said: Thread posted on twitter from the QA So thats a very different account from what we were told at the Fans forum. Im not sure I 100% trust Blitz in all of this. However I think hes closer to the truth than the Lemsagams are. Link to comment Share on other sites More sharing options...
Dave_Og Posted January 6, 2020 Share Posted January 6, 2020 I'm struggling to get past the God bothering stuff Link to comment Share on other sites More sharing options...
sjk2008 Posted January 6, 2020 Share Posted January 6, 2020 10 minutes ago, GlossopLatic said: So thats a very different account from what we were told at the Fans forum. Im not sure I 100% trust Blitz in all of this. However I think hes closer to the truth than the Lemsagams are. Tbf, at the Fans Forum it was the Trust who were coming out with that account and IMHO opinion I’m not 100% sure they’re fully aware of the situation. Im still waiting for them to get confirmation of the existing shareholding situation as you’d like to think this could quickly be cleared up. Link to comment Share on other sites More sharing options...
True Tic Posted January 6, 2020 Share Posted January 6, 2020 Is corneys 22% the additional bit the Flg say they are trying to purchase? Link to comment Share on other sites More sharing options...
Dave_Og Posted January 6, 2020 Share Posted January 6, 2020 16 minutes ago, sjk2008 said: Tbf, at the Fans Forum it was the Trust who were coming out with that account and IMHO opinion I’m not 100% sure they’re fully aware of the situation. Im still waiting for them to get confirmation of the existing shareholding situation as you’d like to think this could quickly be cleared up. Clearly not as its 2 months plus (?) since the forum Link to comment Share on other sites More sharing options...
sjk2008 Posted January 6, 2020 Share Posted January 6, 2020 6 minutes ago, Dave_Og said: Clearly not as its 2 months plus (?) since the forum Sorry - thought you meant back in March! Link to comment Share on other sites More sharing options...
singe Posted January 6, 2020 Share Posted January 6, 2020 https://threadreaderapp.com/thread/1214283436107714560.html All Kevin's post in 1 page. Link to comment Share on other sites More sharing options...
Senor_Coconut Posted January 6, 2020 Share Posted January 6, 2020 26 minutes ago, True Tic said: Is corneys 22% the additional bit the Flg say they are trying to purchase? I would imagine so Link to comment Share on other sites More sharing options...
fleetwood Blue Posted January 6, 2020 Share Posted January 6, 2020 So AL still owes 166k in back rent and the two instalments which amounted to another 300k, failure to pay looks like shares are being clawed back.. 22% to Corney, 3% trust...Abdallah now has 75% of the club in name only, a team that is worthless and in the lower reaches of the pub league...He may aswell cut his losses and walk away now.. Link to comment Share on other sites More sharing options...
Fervid Posted January 6, 2020 Share Posted January 6, 2020 22 minutes ago, fleetwood Blue said: So AL still owes 166k in back rent and the two instalments which amounted to another 300k, failure to pay looks like shares are being clawed back.. 22% to Corney, 3% trust...Abdallah now has 75% of the club in name only, a team that is worthless and in the lower reaches of the pub league...He may aswell cut his losses and walk away now.. We can all but hope Link to comment Share on other sites More sharing options...
yarddog73 Posted January 6, 2020 Share Posted January 6, 2020 Well fuck me, worm your way out of that one shitpeas. Link to comment Share on other sites More sharing options...
LaticMark Posted January 6, 2020 Share Posted January 6, 2020 Link to comment Share on other sites More sharing options...
Dave_Og Posted January 7, 2020 Share Posted January 7, 2020 So, some questions for the Trust (also posted on their site) Assuming this report of Corney now owning 22% is correct. 1. Is there scope for more shares to revert to him under the terms of the agreement? 2. Can the club be asked why they have failed to make the required filings and when they intend to rectify that? 3. Is there a level of shareholding below a majority which requires notification to or approval from the EFL? (in the financial services world that level is 10%) 4. Us there anything in the club's articles which entitles a shareholder to either a board position or any other rights at any percentage level? 5. Is the 22% shareholding for sale to anybody and, if so, for what price? 6. Is the FLG progressing with the purchase of all or any of these shares and, if so, what is holding up completion? Link to comment Share on other sites More sharing options...
yarddog73 Posted January 7, 2020 Share Posted January 7, 2020 7 minutes ago, Dave_Og said: So, some questions for the Trust (also posted on their site) Assuming this report of Corney now owning 22% is correct. 1. Is there scope for more shares to revert to him under the terms of the agreement? 2. Can the club be asked why they have failed to make the required filings and when they intend to rectify that? 3. Is there a level of shareholding below a majority which requires notification to or approval from the EFL? (in the financial services world that level is 10%) 4. Us there anything in the club's articles which entitles a shareholder to either a board position or any other rights at any percentage level? 5. Is the 22% shareholding for sale to anybody and, if so, for what price? 6. Is the FLG progressing with the purchase of all or any of these shares and, if so, what is holding up completion? Why would a FLG want to buy a shareholding if there is a threat of the club being put into administration, making those shares effectively worthless. Link to comment Share on other sites More sharing options...
Dave_Og Posted January 7, 2020 Share Posted January 7, 2020 1 minute ago, yarddog73 said: Why would a FLG want to buy a shareholding if there is a threat of the club being put into administration, making those shares effectively worthless. Fair question Link to comment Share on other sites More sharing options...
laticsmarra Posted January 7, 2020 Share Posted January 7, 2020 10 hours ago, fleetwood Blue said: So AL still owes 166k in back rent and the two instalments which amounted to another 300k, failure to pay looks like shares are being clawed back.. 22% to Corney, 3% trust...Abdallah now has 75% of the club in name only, a team that is worthless and in the lower reaches of the pub league...He may aswell cut his losses and walk away now.. The 2 instalments have nothing to do with shares.Thy are to do with a loan to the club that under the terms of his purchase of the club AL had to ensure was repaid to Simon Blitz. The 22% must be to do with some other default re Simon Corney's agreement Link to comment Share on other sites More sharing options...
Monty Burns Posted January 7, 2020 Share Posted January 7, 2020 What about all the land that has already been sold? Where has that money gone? Blitz is a money grabbing, vampire cunt. Link to comment Share on other sites More sharing options...
Monty Burns Posted January 7, 2020 Share Posted January 7, 2020 Corney= Lying asset stripping admin cunt. Blitz= Asset stripping cunt. Gazal= Asset stripping cunt. AL= Naive, attitude problem, shit players cunt. ML= Flat cap know nowt cunt. BO= The cunt of all cunts. Link to comment Share on other sites More sharing options...
BP1960 Posted January 7, 2020 Share Posted January 7, 2020 1 hour ago, laticsmarra said: The 2 instalments have nothing to do with shares.Thy are to do with a loan to the club that under the terms of his purchase of the club AL had to ensure was repaid to Simon Blitz. The 22% must be to do with some other default re Simon Corney's agreement So if there's more defaults SC could claw back more shares..in theory owning the club again? Link to comment Share on other sites More sharing options...
nzlatic Posted January 7, 2020 Share Posted January 7, 2020 Given the claim from Blitz that he could put the club into admin, then sell it to the FLG for £1, I was just wondering what the downsides of this would be purely from the fans perspective? Points deduction - I believe this is a maximum of 12 points. Would see us 4 points adrift at the bottom, but with only 1 relegation spot and also Macclesfield in danger of further penalties there would surely never be a better time for us to do it? Transfer embargo - presume this would happen so the squad we have now would be it for the rest of the season? FLG would need to be able to meet the running costs for the rest of the season - although presumably all OEC proceeds would then be coming into the club which should make that easier. Plus I would have thought there would be an immediate upturn in half season tickets, corporate sales etc It does seem like if something like adminstration were going to happen, now would be the time so the rot is stopped and we can start rebuilding straight away with a half decent chance of avoiding relegation to non league. Unless I've missed something obvious and devastating? Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.