Guilfoyle on ITV Westcountry

[Staths]

What a shambles, I remain reassured that there are good people about to ensure the worst doesnt happen if/when the preffered bid collapses.

 

[warney]

Apparently this is how he plans to get around the rule about Heaney having influence at 2 clubs:

Mr Guilfoyle added: “The Football League are still looking at it all and coming back with queries but we believe we have designed a situation where they are going to feel comfortable. The money is a gift, not financial support.”

I mean what would you say if you were on the league committee and someone said that to you?

Ridiculous, isn't it! No matter how it's dressed up, Heaney is having a financial influence on two clubs, which is against League rules. How can they so brazenly try to bend those rules - that in itself should set the alarm bells ringing (although they've been ringing for months now anyway!).
This deal should have been thrown out by BG ages ago, for the good of the club, fans, staff and creditors. Unfortunately, it's obvious they're at the bottom of the list of considerations. I wonder who's at the top? :twisted:

 

[Tim Chown]

What a shambles, I remain reassured that there are good people about to ensure the worst doesnt happen if/when the preffered bid collapses.

But therein lies the problem.

How does the preferred bid collapse, exactly?

As it stands, Brenda is denying any other option, as he has for weeks and months, even though two other bidders wait in the wings.

I'm not sure why it is that on Aug 12th Brenda becomes liable for wages, but that makes a difference in that Brenda will be the person responsible for the deferral, not Heaney. But hey, he's not really liable while the incredible staff feel they have no choice but to sign yet again.

The big fear is that Brenda has already decided on liquidation, and that will be triggered on Friday when the liability changes to his company. And then presumably all our season ticket money will pay his fees ahead of anyone else - especially the staff - seeing any cash.

A disgrace.

 

[Rush Goalie]

And according to the herald, lombard have rejected heaney's offer of £2.1m.

Heaney is meeting them again this week with Riddler in tow.

That'll help reassure Lombard about business probity.

That made me laugh out loud on the train this morning

 

[Rush Goalie]

Sounds like BG is setting the groundwork for liquidation if/when Heaney doesn't come up with the reddies. He (BG) doesn't appear willing to engage with the contingency plan at all.

Looking that way, isn't it? Hopefully, in private, discussions are taking place which ensure that there is time to enact the contingency plan but publicly, at least, Guilfoyle seems to be saying the sums don't add up with the Brent option. If that is the case, liquidation would seem the next step should Heaney not guarantee cash in the next 3 days.

 

[storming]

What a shambles, I remain reassured that there are good people about to ensure the worst doesnt happen if/when the preffered bid collapses.

But therein lies the problem.

How does the preferred bid collapse, exactly?

As it stands, Brenda is denying any other option, as he has for weeks and months, even though two other bidders wait in the wings.

I'm not sure why it is that on Aug 12th Brenda becomes liable for wages, but that makes a difference in that Brenda will be the person responsible for the deferral, not Heaney. But hey, he's not really liable while the incredible staff feel they have no choice but to sign yet again.

The big fear is that Brenda has already decided on liquidation, and that will be triggered on Friday when the liability changes to his company. And then presumably all our season ticket money will pay his fees ahead of anyone else - especially the staff - seeing any cash.

A disgrace.

Brenda's company seem to be more concerned with losing their money than following the legal requirements of administration and looking at the best options for creditors.

On Friday, Mr Guilfoyle said "Bishop International have assured him the deal will be sealed this month – but the extra cash is needed. He added that, if the company was unable to complete the purchase, administrators will look at all other viable options." Now it seems that the contingency plan is not viable, although he says that he isn't allowed to talk to the contingency committee, so how does he know?

 

[Tavypilgrim]

What a shambles, I remain reassured that there are good people about to ensure the worst doesnt happen if/when the preffered bid collapses.

But therein lies the problem.

How does the preferred bid collapse, exactly?

As it stands, Brenda is denying any other option, as he has for weeks and months, even though two other bidders wait in the wings.

I'm not sure why it is that on Aug 12th Brenda becomes liable for wages, but that makes a difference in that Brenda will be the person responsible for the deferral, not Heaney. But hey, he's not really liable while the incredible staff feel they have no choice but to sign yet again.

The big fear is that Brenda has already decided on liquidation, and that will be triggered on Friday when the liability changes to his company. And then presumably all our season ticket money will pay his fees ahead of anyone else - especially the staff - seeing any cash.

A disgrace.

Brenda's company seem to be more concerned with losing their money than following the legal requirements of administration and looking at the best options for creditors.

On Friday, Mr Guilfoyle said "Bishop International have assured him the deal will be sealed this month – but the extra cash is needed. He added that, if the company was unable to complete the purchase, administrators will look at all other viable options." Now it seems that the contingency plan is not viable, although he says that he isn't allowed to talk to the contingency committee, so how does he know?

Ridsdale?

 

[Hammers]

What a load of Tosh. Said that the PB's are trying to provide funds and complete sale by next week!!! Also said that the Contingency Bid doesn't have the rescources needed!! Guilfoyle = T****r

Are there any committee members on line who can comment?

Hi All

Late home from the game for reasons that will become apparent later in my post.

Firstly on the alleged comments by BG around James Brent not having the resources / being unwilling to hand over £240,000.

As you will be aware BG wrote to the Contingency committee stating that IF the PB failed then he would need an immediate injection of funds. We, quite rightly replied pointing out 1. Nobody would just write out a cheque without first having agreements in place with the secured creditors and 2. Why was it that the preferred bidder could work unfunded (apart from £300k payment) for over 4 months and yet the contingency plan would be expected to hand over money within 24 hours. Surely not a balanced or fair approach. We received no response to this from BG so on that basis it is disapointing that he chose to give an unbalanced view to the media.

Once we heard of the TV interview I tried to contact BG via text / call asking to meet at the game. I got no response and it turns out that he left the ground shortly after HT.

Out of worry for the future of our club a few of us (Damon, Graham C, Peter Ryan and Ian Newell) waited to see Peter Ridsdale after the game. To be fair to PR he was more than happy to talk to us stating.

- The money is there via Heaney and deal should be completed by early next week.
- Heaney / PR are meeting Lombard in London tomorrow.
- P&A are putting pressure on with regards to keeping to deadlines.
- PR has agreed to let us know how the Lombard meeting goes tomorrow evening.
- PR has agreed to attend our contingency plan meeting on Friday morning to give a full update on where we are etc
- PR was more confident than ever that KH would complete

Obviously the above were views / comments of PR not of us but hopefully useful nonetheless.

Tomorrow morning I will contact (a) James Brent just to see what he thinks of the latest development and (b) once again try to establish a dialogue with BG.

The twists and turns continue.

Chris

Are you still expecting to hear from Peter Ridsdale this evening?

 

[Martin Thomas]

Apparently this is how he plans to get around the rule about Heaney having influence at 2 clubs:

Mr Guilfoyle added: “The Football League are still looking at it all and coming back with queries but we believe we have designed a situation where they are going to feel comfortable. The money is a gift, not financial support.”

I mean what would you say if you were on the league committee and someone said that to you?

Ridiculous, isn't it! No matter how it's dressed up, Heaney is having a financial influence on two clubs, which is against League rules. How can they so brazenly try to bend those rules - that in itself should set the alarm bells ringing (although they've been ringing for months now anyway!).
This deal should have been thrown out by BG ages ago, for the good of the club, fans, staff and creditors. Unfortunately, it's obvious they're at the bottom of the list of considerations. I wonder who's at the top? :twisted:

The FL cannot possibly want a club to go bust so all the parties have got to do is agree a scenario and set of words that allows both sides to get what they want. Its called a win-win. You may not like it and it may offend your princilpes but there's a reasonable chance you'll have to live with it.

 

[Chris Dennis]

Apparently this is how he plans to get around the rule about Heaney having influence at 2 clubs:

Mr Guilfoyle added: “The Football League are still looking at it all and coming back with queries but we believe we have designed a situation where they are going to feel comfortable. The money is a gift, not financial support.”

I mean what would you say if you were on the league committee and someone said that to you?

Probably the most ridiculous statement I've heard so far in all this.

From the FL rules:-

86.2 A person shall be deemed to be interested in a football club if he, whether directly or indirectly:

86.2.5 has lent or gifted money to or guaranteed the debts or obligations of that football club, otherwise than in the ordinary course of banking.

 

[storming]

Apparently this is how he plans to get around the rule about Heaney having influence at 2 clubs:

Mr Guilfoyle added: “The Football League are still looking at it all and coming back with queries but we believe we have designed a situation where they are going to feel comfortable. The money is a gift, not financial support.”

I mean what would you say if you were on the league committee and someone said that to you?

Probably the most ridiculous statement I've heard so far in all this.

From the FL rules:-

86.2 A person shall be deemed to be interested in a football club if he, whether directly or indirectly:

86.2.5 has lent or gifted money to or guaranteed the debts or obligations of that football club, otherwise than in the ordinary course of banking.

And Brenda is getting pot-loads of money to be familiar with these rules. :crazy:

 

[Martin Thomas]

You don't get it do you? It doesn't matter what the rules say, or at least your literal interpretation. It's how the FL and PB can dress up any deal to give the appearance of sticking to the rules. It happens every day whether you like it or not.