Lloyd and the temporary CEO

[saintvaliant]

In that case should we be crediting the board for securing £3m worth of investment in the form of a council loan and other loans?

 

I'm all in favour of Mo's offer, but we can't keep trying to say it was £5m because it wasn't. It was £1.2m and a possible debt restructuring.

 

The key difference mark is that the loans secured by the present board are all based on full repayment, with no option to convert to equity.

 

Mo's proposed loans had the option of being converted to equity. I'm sure somewhere that it was stated that the preferred route would have been for this to be the case rather than repayment, albeit we will never know whether that would have happened or not.

 

Potentially therefore Mo's bid involved up to £5 million of pure investment. £1.2 million on day one, and up to £3.8 million further.

 

I would therefore expect the board to be securing a deal that sees at the very worst £1.2 million up front, with the potential to go as far as Mo's bid could have done.

[X-Valiant]

I would therefore expect the board to be securing a deal that sees at the very worst £1.2 million up front, with the potential to go as far as Mo's bid could have done.

 

That would be nice!

[Mr Carter]

In that case should we be crediting the board for securing £3m worth of investment in the form of a council loan and other loans?

 

I'm all in favour of Mo's offer, but we can't keep trying to say it was £5m because it wasn't. It was £1.2m and a possible debt restructuring.

 

Lets hope tomorrows announcement is half as good as Mo's was

[Fosse69]

In that case should we be crediting the board for securing £3m worth of investment in the form of a council loan and other loans?

 

I'm all in favour of Mo's offer, but we can't keep trying to say it was £5m because it wasn't. It was £1.2m and a possible debt restructuring.

 

But the loan was against the ground, whether it was a competitive deal I do not know, only better than the previous "Manchester loan" A restructured loan on better terms with MC would have commercial advantages to both parties, otherwise pointless. So without it we continue to pay the council loan off for the next 15 years or so.

[Bert Llewellyn]

I won't be there tomorrow night. I'm waiting for the announcement with baited breath. I sincerely hope that it's at least £5 million with at least £1.2 million up front. No payment in kind (plastic pitches etc.) just hard cash to clear debts and invest in players - and finish Lorne Street if only for appearances sake!

 

I won't get into loans or payments, I just want us to have a decent chance to climb the league. I really can't undersatnd why people are rabbiting on about what will happen in the future and if Mo Chaudry is to believed or whatever. The fact is no one knows for sure. I have read on here today of dedicated supporters being duped by the shareholder scheme when they genuinely thought it was straight. Simple fact is we are at risk of administration and these muppets in the boardroom are despised by a sizeable minority if not a small majority of the supporters and definitely by the majority of the shareholders (I'm talking straight numbers not poll voting so don't go there). Just my opinion.

[LeeQuinn]

I agree, but its happened to managers for years.

 

I agree Phil, This is the madness of letting "managers" dictate their terms and length of contract as like with PVFC they know how desperate we are for their "services"

[Mr Carter]

I agree Phil, This is the madness of letting "managers" dictate their terms and length of contract as like with PVFC they know how desperate we are for their "services"

 

Adams should have been on a rolling 1 year contract, but we know that Bratt loaded the club with big contracts just to hinder Chaudry

[Bert Llewellyn]

Adams should have been on a rolling 1 year contract, but we know that Bratt loaded the club with big contracts just to hinder Chaudry

 

I'm not sure if it was to hinder Mo as I don't have any information to agree or disagree but I agree that ALL managers in this division should be on a 1 year rolling contract until they prove themselves to be worthy of longer. Before anyone says it, Adams did a great job previously but weren't some of our performances before he left a bit dodgy?

[Mr Carter]

I'm not sure if it was to hinder Mo as I don't have any information to agree or disagree but I agree that ALL managers in this division should be on a 1 year rolling contract until they prove themselves to be worthy of longer. Before anyone says it, Adams did a great job previously but weren't some of our performances before he left a bit dodgy?

 

Bert....Its not only in this division Pulis is on a one year rolling and Macari was as well, there again Coates is light years ahead of V2001 in business acumen

[Bert Llewellyn]

Bert....Its not only in this division Pulis is on a one year rolling and Macari was as well, there again Coates is light years ahead of V2001 in business acumen

 

My cat is light years ahead of V2001 in terms of business acumen!

[Mr Carter]

My cat is light years ahead of V2001 in terms of business acumen!

 

Not hard is it

 

Judging by your name I guess you have a "Few" years under your belt,going back over the years can you honestly remember a worst board of directors?

[Bert Llewellyn]

Not hard is it

 

Judging by your name I guess you have a "Few" years under your belt,going back over the years can you honestly remember a worst board of directors?

 

Errr NO!

[Mr Carter]

Errr NO!

 

:laugh::laugh: ===

[Paul6754]

It was a 5 million investment....Mo Chaudry is worth over 60 million and has a 39 million fund for projects...Mo Chaudry wanted to invest 5 million into Port Vale....Mo Chaudry wanted a debt free club....the club has debts of 3.5 million....the club is valued at 3.5 million....the club is worth £1....therefore

after an investment of 5 million and all the debts cleared Mo Chaudry would own the club and the club would be debt free.....obviously the club would have to be run professionally and to plan inorder to make a profit and move

forward on and off the pitch towards Championship football and as the clubs value goes from roughly £1 towards 5 million then no doubt any interest free Directors loans used to clear the debts can then be turned into equity...the point is that Mo Chaudry has the money to buy and run a football club and would not need to to seek loans and debt like the V2001 Board who do not have the money to buy and run a football club....

At the end of the day if Mo Chaudry decided to flog a well run Championship club for 10 million and make a profit it must still be said that

Mr Chaudry seems to be the only person with the money and success in the sports/leisure industry with business contacts to offer the kind of first aid the club needs which is a 5 million investment.

 

BA, Twitters is correct and I have been banging on about this too, MC''s bid said upto 1.2m and upto 3.8 m. The Window of Opportunity Document states 'To invest additional funds.....initially by way of an interest free loan until such time as the club produces a reasonable profit whereupon MC reserves the right to claim interest and/or convert the loan to equity", presumably this is the upto 3.8m Directors Loan.

 

In the business Plan no statement or clue is given as to what interest may be charged (if any) and if it will be compounded over years, no idea of what constitutes a reasonable profit and when the interest and/or loan become payable and over what length of time are given.

 

I have asked LB to provide answers to these questions and none have been forthcomming, not very open and transparent IMO. However, yesterday in a reply to Regal Beagle, LB did say that any interest charged (if it came to that) on the Directors Loan would be at below market rate which is good news. However, the other questions remain unanswered and until information is provided it is not easy to guesstimate how much Vale would be in debt to MC and for how long and hence compare MC's bid with other bids. Afterall, Vale could just be replacing debt to current investors with debt to MC.

 

LB also said the bid has been withdrawn and so its all mute anyway.

 

We await the details of the new investment.

[Fosse69]

BA, Twitters is correct and I have been banging on about this too, MC''s bid said upto 1.2m and upto 3.8 m. The Window of Opportunity Document states 'To invest additional funds.....initially by way of an interest free loan until such time as the club produces a reasonable profit whereupon MC reserves the right to claim interest and/or convert the loan to equity", presumably this is the upto 3.8m Directors Loan.

 

In the business Plan no statement or clue is given as to what interest may be charged (if any) and if it will be compounded over years, no idea of what constitutes a reasonable profit and when the interest and/or loan become payable and over what length of time are given.

 

I have asked LB to provide answers to these questions and none have been forthcomming, not very open and transparent IMO. However, yesterday in a reply to Regal Beagle, LB did say that any interest charged (if it came to that) on the Directors Loan would be at below market rate which is good news. However, the other questions remain unanswered and until information is provided it is not easy to guesstimate how much Vale would be in debt to MC and for how long and hence compare MC's bid with other bids. Afterall, Vale could just be replacing debt to current investors with debt to MC.

 

LB also said the bid has been withdrawn and so its all mute anyway.

 

We await the details of the new investment.

Which I am sure we will know far less about than MC`s plan. Do you think the new owner will give a presentation.