Smurf on the radio

[j_grainger10]

As I've already posted..it's not sudden. I mentioned it and my concerns as soon as I became aware of the loans months/years ago.

 

 

 

You are mistaken that I have an agenda regarding Norman just as you are mistaken that it's a sudden fascination (and it's not a fascination).

 

 

 

The only thing I care about is the wellbeing of PVFC..that's my agenda and getting rid of Norman isn't on it. I'd love him to stay cos that means he's a success. I have repeatedly posted that he needs help with running the club, not that he needs to go and that's how I feel now.

 

But I am interested in knowing the substance of these loans, as I have been since I became aware of them.

 

I'm afraid you are making stuff up (agenda, sudden fascination etc) and then posting on the basis that it's true....so I can't engage with you further on this.

 

Norman has said from day one he was putting his own money in. Did you not think these would be loans?

[Paul6754]

You seem to be suggesting that you are a mind reader by knowing what I am going to say or do before I know it! I agree that the Chairman has made no secret that he is putting in £80K per month, what does appear to be a secret is how this is structured. One possible scenario could be that at some point his money will run out or he will simply decide not to put in any more (I would not blame him if he chose not to put in any more money). If at that point the club is saddled with contracts and other outgoings agreed by the Chairman that exceed the income (minus the £80K contribution)then we would be insolvent and at real risk of administration if no buyer could be found. That scenario is highly likely if, as I think is the case, we are currently meeting our obligations only because the Chairman is putting in £80K per month.

 

Once we are technically insolvent there is a legal requirement to fold up the club. In terms of other clubs in our league, as far as I am aware none of them have twice before been in administration. That simple fact puts us at a much higher risk of losing our status if it happens for a third time. I am simply asking how the financial side of these loans is structured. The Chairman specifically said wait until Christmas then it is Plan B. The confusion that has arisen since then has prompted a number of people to ask sensible legitimate questions now which explains the timing of a deeper probe by genuine supporters. I like many others am also a former shareholder and supporter since the 1960s so my loyalty to Port Vale is not up for discussion.

 

It's commenon knowledge that most football club's are black holes for money, especially lower lge clubs, and just why someone like Smurf wanted to get involved with Port vale when he had no ties to the club or the area is open for answers but only an extremely shrewd and lucky person could make money from a club like the Vale.

 

I'm no Smurf lover or hater but but am grateful that he is "putting money" into the club but on the other am sceptical of the separation of club and ground. There is no doubt that The Chairman will want as much of the Directors Loans back as he can get when he comes to sell and hence the reason the club and gound have been separated to leverage money as usually the club separated from the groound as two separate entities will be worth more than the club and ground combined.

 

How much the club/gound etc is worth will depend on how much someone is prepared to pay and hence how fat the wallet.

[SuperValiant1876]

Administrators may have been able to run a club at a profit when that club hasn't got enough players to fill the bench on a matchday.

[j_grainger10]

Administrators may have been able to run a club at a profit when that club hasn't got enough players to fill the bench on a matchday.

 

Exactly.. It was such a pointless argument that I can only think it was posted to clutch at straws.

[jjvale_03]

So would you rather be in league 2 with a value of 1.5 million or league 1 with a value of 3.5 million. Speculate to accumulate.

 

If I buy a house for 1.5m and set fire to 2m in the garden, is it worth 3.5m?

[Fosse69]

Is not Norman saying that he is putting his own money in and not borrowing it? His chances of recovering all of it could depend on a period in the Championship with the greater TV income being used to either return his loan, or to improve the saleability of the club. Otherwise he could write the loan off as "hobby money" as lots of others do. He chose the Vale, or it was chosen for him, as it was available, could well have preferred Cov but far more money would be required. As an aside there is a syndicate, including an ex Palace owner interested in them at present. Separating the ground off ensures that it is safe from claims should the Vale go into admin, or enables the FC to be sold separately at a lower cost and the ground rented. Keeping it simple means I can sleep at night, I would prefer a board of directors to keep an eye on things, but that doesn't always work out.

[SuperValiant1876]

If I buy a house for 1.5m and set fire to 2m in the garden, is it worth 3.5m?

 

no but if you upgrade the house all around and the neighbourhood gets better (L1 not L2) then yes it will be worth more. I take it you aren't doing an economics degree then hahaha

[Spunk Trumpet]

I would take anything Norman says with a pinch of salt.

Do I believe he is putting money in? Yes. Just like every other lower league chairman and not to the sums he tells everyone. I'm sure there are many more chairman in this division and even in league 2 that are putting more into their clubs than Norman is doing.

Sadly he keeps banging on about unlike the others and our supporters are too blinded to see that what he is doing is pretty normal for a football league chairman and he shouldn't need any medals or even praise for doing so.

Let's face it, he's wasted a lot of it anyway on absolute garbage on the pitch.

I have no sympathy.

[Fosse69]

If I buy a house for 1.5m and set fire to 2m in the garden, is it worth 3.5m?

Depends on your property insurance, to leave £2M in the garden at a "buy for rent" would have to be itemised. To have £2M to burn would assume living in a £50M mansion somewhere.

[jjvale_03]

no but if you upgrade the house all around and the neighbourhood gets better (L1 not L2) then yes it will be worth more. I take it you aren't doing an economics degree then hahaha

 

Please tell me about these upgrades to VP. I'm dying to hear about them.

 

Being in L1 compared to L2 is worth around 400k in TV money. Our average attendance this season will be 1500 lower than in our final season in L2 - so the difference in overall income from being in the league above is negligible.

[fairportnick]

If I buy a house for 1.5m and set fire to 2m in the garden, is it worth 3.5m?

 

Are you in the KLF?

[fairportnick]

no but if you upgrade the house all around and the neighbourhood gets better (L1 not L2) then yes it will be worth more. I take it you aren't doing an economics degree then hahaha

 

Upgrades to a house often don't increase the value by the amount spent.

[SuperValiant1876]

Please tell me about these upgrades to VP. I'm dying to hear about them.

 

Being in L1 compared to L2 is worth around 400k in TV money. Our average attendance this season will be 1500 lower than in our final season in L2 - so the difference in overall income from being in the league above is negligible.

 

Club Shop, Toilets, Floodlights, Pitch. Quality of opposition, number of away fans through the gates. These things are all improvements over where we were when Smurf took over.

[Walka003]

Is it me or does every thread on this website follow a pattern:

 

Thread opens on a topic

 

First page and a half discussing the topic untill someone mentions smurf

 

Slagging match between pro smurf/anti smurf for 10 pages

 

Thread closes

 

 

Sent from my LG-D855 using the onevalefan mobile app

[Guest TommyMac]

He isn't putting money in but he is putting money in!

 

He's always said the club will remain debt free, why are people making things up?

 

You really are thick aren't you.