TooonDoom Posted November 10, 2009 Share Posted November 10, 2009 Please correct me if I am wrong but.... Say the fund raises £80,000,000 and makes that offer to Ashley. Ashley says na no thanks. The "Yes we can" campaign says oh well we tried lets return people money (minus 5%). They keep £4,000,000 as admin fees. What happens to that £4,000,000? Link to post Share on other sites More sharing options...
Benwell Lad Posted November 10, 2009 Share Posted November 10, 2009 The whole buy out is based on the concept of one share certificate = one vote, regardless of the amount you invest (the minimum investment for a shre certificate is £2500. The larger investors will get a better return, ie: 2% of £25000 is greater than 2% of £2500. The one share certificate = one vote is paramount so that no one person / individual can take over at some point in the future. A properly elected NUST board will look after the trust issues, and a 'president' will be elected by the people who have invested in the buy out, a professional board would be appointed (commercial director, finace director, legal director, SIP investment director, along with 6 democraticaly elected NUST members) to run the club and be responsible for all operational and football matters. This will be communicated as the campaign progresses, it would be too much to produce everything today in one go. All that is asked at the moment is that investors place 10% of their pledged investment into an escrow account, set up and managed independtly from the NUST by a local credible legal firm. If the buy out does not go ahead, then the deposit would be returned less admin fes, there has to be admin fees, up to now everybody has basically worked pro bono (for nowt!!), but we are now asking financial institutions and businesses to become involed in large money moving tansacations etc, so there will be fees, thats normal in business. Please keep asking the questions, and please keep reading up on whats happening with the campaign, and hopefully you will be persuaded to invest and help move the club forward, or if you cant invest due to financial reasons then at least back us in what we are trying to do. Cheers guys and girls. Don't need accurate figures, but what kind of "ball park" salaries and contracts will be on offer for the Commercial, Financial, Legal and SIP directors. The best people won't come cheap. Will these posts be advertised or do you already have people in mind ? Is the 2% return on investment guaranteed ? And if so how ? Link to post Share on other sites More sharing options...
ToonTastic Posted November 10, 2009 Share Posted November 10, 2009 Please correct me if I am wrong but.... Say the fund raises £80,000,000 and makes that offer to Ashley. Ashley says na no thanks. The "Yes we can" campaign says oh well we tried lets return people money (minus 5%). They keep £4,000,000 as admin fees. What happens to that £4,000,000? Solicitor fees, must be something they have agreed with the solicitor. I assume they will have a larger pot than just £80m to bid from however. Link to post Share on other sites More sharing options...
NG32 Posted November 10, 2009 Share Posted November 10, 2009 Please correct me if I am wrong but.... Say the fund raises £80,000,000 and makes that offer to Ashley. Ashley says na no thanks. The "Yes we can" campaign says oh well we tried lets return people money (minus 5%). They keep £4,000,000 as admin fees. What happens to that £4,000,000? The companies dealing with moving money about get that, they dont do it for free. NUST wouldn't see it. Link to post Share on other sites More sharing options...
MW Posted November 10, 2009 Share Posted November 10, 2009 Please correct me if I am wrong but.... Say the fund raises £80,000,000 and makes that offer to Ashley. Ashley says na no thanks. The "Yes we can" campaign says oh well we tried lets return people money (minus 5%). They keep £4,000,000 as admin fees. What happens to that £4,000,000? Needed to run the campaign? Link to post Share on other sites More sharing options...
gekkotime Posted November 10, 2009 Share Posted November 10, 2009 I don't want to sound like I'm against this, but I just can't see how this could work in the current financial state of the club. Let's assume NUST succeeds in raising 80-90m, and buys the club. But the club is losing money aorn, is not in a position to take out a loan, and the squad needs strenghtening. How is NUST planning on financing the club after they bought it? Who's going to run the club? How much control will the shareholders get? Will there be (x-)yearly elections like in Spain? If so, who's planning to "run for president"? I don't see a lot of sense in coming forward with this announcement without publishing a detailed account of their future plans. I also have reservations about this whole election thing, politics and business require a different skillset and motivation, i'm not very fond of mixing the two. Link to post Share on other sites More sharing options...
ToonTastic Posted November 10, 2009 Share Posted November 10, 2009 Don't need accurate figures, but what kind of "ball park" salaries and contracts will be on offer for the Commercial, Financial, Legal and SIP directors. The best people won't come cheap. Will these posts be advertised or do you already have people in mind ? Surely this is part of the job of the chairman of the club not the job of NUST ? The salaries would therefore come out of the clubs budget as it does now ? Link to post Share on other sites More sharing options...
ToonTastic Posted November 10, 2009 Share Posted November 10, 2009 I don't want to sound like I'm against this, but I just can't see how this could work in the current financial state of the club. Let's assume NUST succeeds in raising 80-90m, and buys the club. But the club is losing money aorn, is not in a position to take out a loan, and the squad needs strenghtening. How is NUST planning on financing the club after they bought it? Who's going to run the club? How much control will the shareholders get? Will there be (x-)yearly elections like in Spain? If so, who's planning to "run for president"? I don't see a lot of sense in coming forward with this announcement without publishing a detailed account of their future plans. I also have reservations about this whole election thing, politics and business require a different skillset and motivation, i'm not very fond of mixing the two. I do think it would have been better them coming out with a business plan before asking for the cash. Link to post Share on other sites More sharing options...
David Icke - Son of God Posted November 10, 2009 Share Posted November 10, 2009 Surely the admin fees would be closer to £40,000 if the magic number was £80 million as it's 5% of the 10% deposit? Link to post Share on other sites More sharing options...
Liam Liam Liam O Posted November 10, 2009 Share Posted November 10, 2009 I'm not sure why the fans on the board should only be allowed to be selected from NUSC members. I'm pretty sure anyone stumping up £1500+ would have the £10 subs waived and automatically become a member of the NUST. Or would you want someone on the board who wasn't willing to put up even £1500? If I were voting on board members I'd certainly want them to be materially invested in it. NUST alienated a lot of supporters last season and there's still an element of distrust between them and a lot of fans. I wouldn't have any problem in an independant person or persons being on the board who isn't involved with the Trust. It's how the majority of large company boards are made up in fact. Link to post Share on other sites More sharing options...
Benwell Lad Posted November 10, 2009 Share Posted November 10, 2009 Don't need accurate figures, but what kind of "ball park" salaries and contracts will be on offer for the Commercial, Financial, Legal and SIP directors. The best people won't come cheap. Will these posts be advertised or do you already have people in mind ? Surely this is part of the job of the chairman of the club not the job of NUST ? The salaries would therefore come out of the clubs budget as it does now ? I'm sure it will be and I'm sure they would, but it doesn't answer the questions I asked. I'm sure they will be able to answer, you can hardly commence a multi million pound takeover without plans for what happens should the takeover succeed. Link to post Share on other sites More sharing options...
ToonTastic Posted November 10, 2009 Share Posted November 10, 2009 Surely the admin fees would be closer to £40,000 if the magic number was £80 million as it's 5% of the 10% deposit? Man talks sense Link to post Share on other sites More sharing options...
ToonTastic Posted November 10, 2009 Share Posted November 10, 2009 I'm not sure why the fans on the board should only be allowed to be selected from NUSC members. I'm pretty sure anyone stumping up £1500+ would have the £10 subs waived and automatically become a member of the NUST. Or would you want someone on the board who wasn't willing to put up even £1500? If I were voting on board members I'd certainly want them to be materially invested in it. NUST alienated a lot of supporters last season and there's still an element of distrust between them and a lot of fans. I wouldn't have any problem in an independant person or persons being on the board who isn't involved with the Trust. It's how the majority of large company boards are made up in fact. If I remember correctly it was suggested to FFS during audits that the club should have a non member on the board. They got round it somehow Link to post Share on other sites More sharing options...
Benwell Lad Posted November 10, 2009 Share Posted November 10, 2009 I don't want to sound like I'm against this, but I just can't see how this could work in the current financial state of the club. Let's assume NUST succeeds in raising 80-90m, and buys the club. But the club is losing money aorn, is not in a position to take out a loan, and the squad needs strenghtening. How is NUST planning on financing the club after they bought it? Who's going to run the club? How much control will the shareholders get? Will there be (x-)yearly elections like in Spain? If so, who's planning to "run for president"? I don't see a lot of sense in coming forward with this announcement without publishing a detailed account of their future plans. I also have reservations about this whole election thing, politics and business require a different skillset and motivation, i'm not very fond of mixing the two. Sshh ! This is no time for a reality check. Link to post Share on other sites More sharing options...
ToonTastic Posted November 10, 2009 Share Posted November 10, 2009 Don't need accurate figures, but what kind of "ball park" salaries and contracts will be on offer for the Commercial, Financial, Legal and SIP directors. The best people won't come cheap. Will these posts be advertised or do you already have people in mind ? Surely this is part of the job of the chairman of the club not the job of NUST ? The salaries would therefore come out of the clubs budget as it does now ? I'm sure it will be and I'm sure they would, but it doesn't answer the questions I asked. I'm sure they will be able to answer, you can hardly commence a multi million pound takeover without plans for what happens should the takeover succeed. i agree, like I said seems strange to ask for cash without a business plan. Just not sure we're asking the questions at the correct place. Would be good if NUST could get someone to answer all these questions on all the different sites. Link to post Share on other sites More sharing options...
Benwell Lad Posted November 10, 2009 Share Posted November 10, 2009 Surely the admin fees would be closer to £40,000 if the magic number was £80 million as it's 5% of the 10% deposit? Man talks sense Not entirely sure, as that would imply that takeover discussions would be taking place on the strength of an £8M escrow account. Ashley made it clear he needed to see the real money previously, so I think it should be clarified whether it's 5% of the pledged amount or 5% of the amount required to make the deal happen. Link to post Share on other sites More sharing options...
David Icke - Son of God Posted November 10, 2009 Share Posted November 10, 2009 I'm not sure why the fans on the board should only be allowed to be selected from NUSC members. I'm pretty sure anyone stumping up £1500+ would have the £10 subs waived and automatically become a member of the NUST. Or would you want someone on the board who wasn't willing to put up even £1500? If I were voting on board members I'd certainly want them to be materially invested in it. NUST alienated a lot of supporters last season and there's still an element of distrust between them and a lot of fans. I wouldn't have any problem in an independant person or persons being on the board who isn't involved with the Trust. It's how the majority of large company boards are made up in fact. If I remember correctly it was suggested to FFS during audits that the club should have a non member on the board. They got round it somehow By setting up the FLC which was cockless. Link to post Share on other sites More sharing options...
ToonTastic Posted November 10, 2009 Share Posted November 10, 2009 I'm not sure why the fans on the board should only be allowed to be selected from NUSC members. I'm pretty sure anyone stumping up £1500+ would have the £10 subs waived and automatically become a member of the NUST. Or would you want someone on the board who wasn't willing to put up even £1500? If I were voting on board members I'd certainly want them to be materially invested in it. NUST alienated a lot of supporters last season and there's still an element of distrust between them and a lot of fans. I wouldn't have any problem in an independant person or persons being on the board who isn't involved with the Trust. It's how the majority of large company boards are made up in fact. If I remember correctly it was suggested to FFS during audits that the club should have a non member on the board. They got round it somehow By setting up the FLC which was cockless. I wasn't suggesting what they did was a good idea, they just got round it on the audit. The audit had it there for a good reason so NUST should do it. Link to post Share on other sites More sharing options...
ToonTastic Posted November 10, 2009 Share Posted November 10, 2009 Surely the admin fees would be closer to £40,000 if the magic number was £80 million as it's 5% of the 10% deposit? Man talks sense Not entirely sure, as that would imply that takeover discussions would be taking place on the strength of an £8M escrow account. Ashley made it clear he needed to see the real money previously, so I think it should be clarified whether it's 5% of the pledged amount or 5% of the amount required to make the deal happen. It's from the escrow account Supporters will be asked to pledge 10% of their investment into this account which would be returned if the bid was unsuccessful. Maybe they have £2m in the bank already from one of their investors that gets mentioned as all Ashley wanted to progress with the sale was proof of £10m. Link to post Share on other sites More sharing options...
quayside Posted November 10, 2009 Share Posted November 10, 2009 Don't need accurate figures, but what kind of "ball park" salaries and contracts will be on offer for the Commercial, Financial, Legal and SIP directors. The best people won't come cheap. Will these posts be advertised or do you already have people in mind ? Surely this is part of the job of the chairman of the club not the job of NUST ? The salaries would therefore come out of the clubs budget as it does now ? I'm sure it will be and I'm sure they would, but it doesn't answer the questions I asked. I'm sure they will be able to answer, you can hardly commence a multi million pound takeover without plans for what happens should the takeover succeed. i agree, like I said seems strange to ask for cash without a business plan. Just not sure we're asking the questions at the correct place. Would be good if NUST could get someone to answer all these questions on all the different sites. Well purely out of interest I've registered for this. I've not been asked for any money yet and have absolutely no intention of paying over anything unless I do see a workable business plan. I am sceptical that NUST can launch a robust and viable plan and am pretty certain that attempting to do any sort of deal with Ashley would be a complete nightmare. But I applaud the initiative and will follow it closely. Link to post Share on other sites More sharing options...
Guest Roger Kint Posted November 10, 2009 Share Posted November 10, 2009 May be a daft question but where is this £80m figure to raise coming from? Surely not based on the fact that Moat was offered the club at that price BEFORE Ashley said no and 'injected £20m into it'? The price as previously would be at least £100m provided Ashley actually chooses to sell up in whatever timeframe this would all be in? Link to post Share on other sites More sharing options...
David Icke - Son of God Posted November 10, 2009 Share Posted November 10, 2009 It's quite bizarre that this has been their most ambitious, fanciful plan yet and at the same time their least divisive. I don't think i've seen an NUST discussion as tame as this one on here. Link to post Share on other sites More sharing options...
Guest Roger Kint Posted November 10, 2009 Share Posted November 10, 2009 It's quite bizarre that this has been their most ambitious, fanciful plan yet and at the same time their least divisive. I don't think i've seen an NUST discussion as tame as this one on here. Know what you mean, guess everyones keeping their powder dry til the full details are released. Link to post Share on other sites More sharing options...
David Icke - Son of God Posted November 10, 2009 Share Posted November 10, 2009 May be a daft question but where is this £80m figure to raise coming from? People on here. I don't think NUST have set a magic amount yet. Link to post Share on other sites More sharing options...
TRon Posted November 10, 2009 Share Posted November 10, 2009 At least they Don't need accurate figures, but what kind of "ball park" salaries and contracts will be on offer for the Commercial, Financial, Legal and SIP directors. The best people won't come cheap. Will these posts be advertised or do you already have people in mind ? Surely this is part of the job of the chairman of the club not the job of NUST ? The salaries would therefore come out of the clubs budget as it does now ? I'm sure it will be and I'm sure they would, but it doesn't answer the questions I asked. I'm sure they will be able to answer, you can hardly commence a multi million pound takeover without plans for what happens should the takeover succeed. i agree, like I said seems strange to ask for cash without a business plan. Just not sure we're asking the questions at the correct place. Would be good if NUST could get someone to answer all these questions on all the different sites. The pledges of money promised by big businesses is impressive although it sounds unlikely. Link to post Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now