Welcome, Guest.
Please login or register.
Fishy Forum Fishy Boards Archive › Bury
Users Browsing Forum
AdSense, Googlebot and 389 Guests

Bury

  This thread currently has 31,883 views. Print
17 Pages Prev 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Next All Recommend Thread
Heisenberg
August 22, 2019, 8:23pm
Brandy Drinker
Posts: 2,541
Posts Per Day: 0.79
Reputation: 85.11%
Rep Score: +9 / -1
Approval: +4,815
Gold Stars: 89
Quoted from psgmariner
Deal close to be being agreed. Hold fire on us only Needing to finish second worst.


So yet again football will learn nothing. Clubs will continue to spend wildly, and fans will always assume there’s a knight in shining armour ready to save their club.
Logged Offline
Private Message
Reply: 40 - 160
psgmariner
August 22, 2019, 8:32pm

Barley Wine Drinker
Posts: 10,120
Posts Per Day: 1.70
Reputation: 73.33%
Rep Score: +39 / -15
Approval: +5,478
Gold Stars: 33
Quoted from Heisenberg


So yet again football will learn nothing. Clubs will continue to spend wildly, and fans will always assume there’s a knight in shining armour ready to save their club.


Agree.

That’s why I am thankful we owe money to Fenty rather than ripping off creditors by going in to admin or worse.


Logged
Private Message
Reply: 41 - 160
GollyGTFC
August 23, 2019, 3:48pm

Whiskey Drinker
Posts: 3,863
Posts Per Day: 0.68
Reputation: 67.2%
Rep Score: +19 / -11
Approval: +5,926
Gold Stars: 347
Can you remember when Scunny's assistant manager (Chris Lucketti) was appointed manager at Bury & he was sacked exactly 8 weeks later?

Well he's still owed £91,132.36 by Bury.

Chris Brass was appointed a year before Lucketti and he last exactly 13 weeks.

He's still owed £90.930.28.
Logged Offline
Private Message Skype
Reply: 42 - 160
GollyGTFC
August 23, 2019, 3:53pm

Whiskey Drinker
Posts: 3,863
Posts Per Day: 0.68
Reputation: 67.2%
Rep Score: +19 / -11
Approval: +5,926
Gold Stars: 347
Steven Dale who bought Bury FC for £1 in February is listed as being owed £3.68 million on the CVA agreement. The CVA was agreed at repayment of 25p for every £1 owed. So, Steven Dale would have been entitled to £920,000.

I wonder how much of his own money above the £1 purchase cost he's actually put in?
Logged Offline
Private Message Skype
Reply: 43 - 160
Heisenberg
August 23, 2019, 4:05pm
Brandy Drinker
Posts: 2,541
Posts Per Day: 0.79
Reputation: 85.11%
Rep Score: +9 / -1
Approval: +4,815
Gold Stars: 89
Quoted from GollyGTFC
Can you remember when Scunny's assistant manager (Chris Lucketti) was appointed manager at Bury & he was sacked exactly 8 weeks later?

Well he's still owed £91,132.36 by Bury.

Chris Brass was appointed a year before Lucketti and he last exactly 13 weeks.

He's still owed £90.930.28.


Enough’s enough now, they need chucking out. A deadline is a deadline in my eyes, it doesn’t seem right that they could get an extension. Dale is now asking for fans to pledge money, just a few hours before the deadline, it’s preposterous!
Logged Offline
Private Message
Reply: 44 - 160
jock dock tower
August 23, 2019, 4:19pm
Special Brew Drinker
Posts: 7,716
Posts Per Day: 1.38
Reputation: 81.81%
Rep Score: +55 / -12
Approval: +3,164
Quoted from GollyGTFC
Steven Dale who bought Bury FC for £1 in February is listed as being owed £3.68 million on the CVA agreement. The CVA was agreed at repayment of 25p for every £1 owed. So, Steven Dale would have been entitled to £920,000.

I wonder how much of his own money above the £1 purchase cost he's actually put in?


He'll have taken more out than he's put in. The Bury fans view him as the classic asset stripper, and he's set up two different companies to hold various assets "To protect them from asset stripping" Of course....One of said companies is to look after the clubs memorabilia, and given they won the FA Cup twice in three years during Victorian times, if there's shirts / medals in that lot they'll be worth a lot of money, ditto and silverware from days of yore.

It will end in tears, and I think it has to. As long as they're in hock to the one man (now where have I heard that before?) they'll always be in debt. Get thrown out of the league and come back again, as I've said before. It's really the only way to make any kind of go of things, a la Hereford.



No attempt at ethical or social seduction can eradicate from my heart a deep burning hatred of the Tory party. So far as I'm concerned they're lower than vermin. Aneurin Bevan.
Logged Offline
Private Message
Reply: 45 - 160
GollyGTFC
August 23, 2019, 4:23pm

Whiskey Drinker
Posts: 3,863
Posts Per Day: 0.68
Reputation: 67.2%
Rep Score: +19 / -11
Approval: +5,926
Gold Stars: 347
Their biggest listed creditor is RCR Holdings. They are owed £7,111,480.65. RCR Holdings were registered with Companies House on 16th July 2019- 2 days before the Bury FC CVA meeting was reconvened & concluded following an earlier adjournment.

This debt along with the £3.68m than Steven Dale is claiming originate from money that the previous owner (Stewart Day) loaned the club from another of his businesses. That business was liquidated and the administrator sold the BUry FC debt to RCR Holding for a value of 1/100 of the debt. So RCR Holding paid £71,114.81 for the debt.

Who are RCR Holding? Good question. They only have 1 director- Kris Richards and the registered office of the company is 113 Robinson Street, Oldham which is a rather grotty end terrace property in an undesirable part of town.

Technically, as the CVA was agreed, RCR Holding are going to be repaid £1,777,870.16 for a debt they acquired for just over £70,000.
Logged Offline
Private Message Skype
Reply: 46 - 160
TownSNAFU5
August 23, 2019, 5:11pm
Vodka Drinker
Posts: 5,917
Posts Per Day: 1.13
Reputation: 62.03%
Rep Score: +30 / -21
Location: York
Approval: +6,773
Gold Stars: 41
Late this afternoon the  EFL are now saying that they are having talks with a buyer. BUT qualify this with 3 big obstacles:  chaotic balance sheet, Dale’s demands (presumably very unrealistic) and the lack of time to achieve anything.

Looks like a NO then?
Logged Offline
Private Message
Reply: 47 - 160
Gaffer58
August 23, 2019, 5:20pm
Brandy Drinker
Posts: 2,978
Posts Per Day: 0.88
Reputation: 57.51%
Rep Score: +6 / -8
Approval: +4,034
Gold Stars: 31
GollyGTFC, I understand there are companies that buy up blocks of dept at the equivalent of a penny for a pound, so a £100 pound dept costs £1, they then hope to get this d pt paid his making a tidy return.
Logged Offline
Private Message
Reply: 48 - 160
ska face
August 23, 2019, 5:20pm

Vodka Drinker
Posts: 7,147
Posts Per Day: 1.21
Reputation: 80.94%
Rep Score: +60 / -14
Approval: +21,340
Gold Stars: 824
They’ll get a reprieve because the EFL haven’t got the stones to chuck anyone out.

Nobody wants Dale to find a buyer more than them as it would require them to actually do something other than arrange fixtures and organise the annual Portugal urine-Up.
Logged
Private Message
Reply: 49 - 160
17 Pages Prev 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Next All Recommend Thread
Print

Fishy Forum Fishy Boards Archive › Bury

Back to top of page

This is not an official forum of Grimsby Town Football Club, the opinions expressed are those of the individual authors. If you see an offensive post then click "Report" on the relevant post. Posts will be deleted at the discretion of the moderators whose decision is final. Posts should abide by the Forum Rules. IP addresses of contributors together with dates and times of access are stored. The opinions and viewpoints expressed by contributors to The Fishy are their own and not necessarily those of The Fishy. The Fishy makes no claims that information dispersed through this forum is accurate or reliable. Also The Fishy cannot be held liable for any statements made by contributors of The Fishy.