Ex-Chairman's Statement

[Valiant Haze]

Surely this is the first step? Hes stood down, he isnt going to let his investment potentially disappear so he has to keep funding the club or he loses more. I would expect a quick sale as the longer it goes on the more he stands to lose.

He can recoup £150K per year in rent.

He can recoup from the commercial activities and other income streams.

[Valiant Haze]

Can you sell a multi million turnover business on a bank holiday weekend?

Oh, so it's the bank holiday delaying it. Right o

[Guest TommyMac]

if he doesn't continue to fund the club then garlik wont have any other option but to place the club into administration.

 

I agree, and who is going to buy a club for £X million pounds when they can get it on the cheap when it's in admin. Together with a potential 30pts deduction, we don't look a good proposition do we?

 

I'll be amazed if we start season 2018-19 as a football league club.

[onestepatatime]

As a layman can I ask a question? If we get new owners then surely they will require their own Chairman and Board of Directors. Where would that leave the "new" ones now installed by Smurf?

[Guppy 4 England]

He can recoup £150K per year in rent.

He can recoup from the commercial activities and other income streams.

 

What rent? If the club isnt making a profit how can it pay rent to smurf? It would rack up another debt to him and he would potentially lose even more.

What other income streams? All funds go into one pot, which isnt making profit?

[Guppy 4 England]

As a layman can I ask a question? If we get new owners then surely they will require their own Chairman and Board of Directors. Where would that leave the "new" ones now installed by Smurf?

 

Either on the scrap heap or TUPE'd over and back to CEO or another role.

[PureVale]

Nothing unexpected in the statement.

He's gradually been stepping away from day to day running for a while and always said he would after recent events.

He still owns the club.

He no longer investing additional revenue - which has been the case for the past 6 months away.

Any additional revenue streams will go back to NS as the owner to re-coup his loans etc, similar to the January transfer money saga.

We need a sale to re-start the club again.

We need assurances he won't asset strip or revenue strip the club to get his 3.7m loan back.

[Guppy 4 England]

We need assurances he won't asset strip or revenue strip the club to get his 3.7m loan back.

 

That wont happen, if he did and we ended up in admin they would seek to recover it from him anyway.

[stupers]

As a layman can I ask a question? If we get new owners then surely they will require their own Chairman and Board of Directors. Where would that leave the "new" ones now installed by Smurf?

 

Well whoever buys the club would have 100% voting rights. Call an EGM to remove existing board members and install new ones.

[agent1]

having made my peace with Micky Adams, we agreed a course of rebuilding our Club.

Read more at http://www.port-vale.co.uk/news/article/2016-17/chairmans-statement-3701389.aspx#Re9Lui5wq43msjFE.99

 

does that mean MA is due a return fixture?

[Howjy04]

Good riddance, four years too late!

 

Your consortium sorted out yet?

[cheshirevaliant]

What rent? If the club isnt making a profit how can it pay rent to smurf? It would rack up another debt to him and he would potentially lose even more.

What other income streams? All funds go into one pot, which isnt making profit?

 

Surely rent of the ground is just another expense in the football club's accounts? It isn't Smurthwaite's (can we stop calling him Smurf now we've established he's a ****, rather than some cartoon figure of fun?) problem if the football club makes a loss, particularly once he's sold up.

[For Us All]

Credit to Norman for admitting he has made an almighty balls up.

 

I second that.

[RayWalkers40yarder]

its going to take a hell of a lot more than a watered down statement which is very vague and underwhelming to get me forking out an exorbitant amount of cash to watch football in a **** league. a hell of a lot more. actions speak louder than words were no better off right now than we were 3 hours ago . what a mess

[Stevo]

Looks to me like we'll be putting a youth team out next season if we don't get a new owner.

On the loyalty issue raised in the statement, I can imagine that the prospective manager wanted to bring his own coaching staff in only to be told that he'd have to work with the coaching staff already in place.

I hope we can survive the summer.