Q&A with Norman Smurthwaite - Supporters Club Mtg

[valeparklife]

Why won't he release the P&L details with the Financial Statements? Because something very suspicious is going on behind the scenes...

 

He has openly admitted he is "numb" to the club.

He has openly admitted he is suffering ill health from being owner.

He has openly admitted he is out of his depth.

He has openly admitted his family are being abused (whether this is true or not).

 

So why would you not cut your losses and sell, then enjoy your retirement? Why? Especially when you're worth £80m?

 

He MUST be making money out of the club somehow. Hence WHY he won't sell and WHY he won't release P&L details so we can see EXACTLY what is going on.

 

My best guess is that as he's split the club into 1,000 different entities (ground, club, catering, club shop etc) he is taking profits out of the areas that do make profit and putting them back in as directors loans. Remember, he's "never lost out on a business deal and doesn't intend to start now".

[Jacko51]

The chatter from him about Synetics needing funding to acquire the club I feel is probably one of the only nuggets of truth to come from last nights meeting.

 

It isn't, Matt. They have the money.

[Mattholl]

It isn't, Matt. They have the money.

 

Again time to prove it in the media and ruin his statement if that’s the case. They are doing nothing to weaken his position at all.

 

They show a reporter liquid funds enough to meet the asking price and his goose is cooked.

[LancyTony]

ummm...this might sound stupid...and possibly is, but I'm really not sure of the law in this respect - if he's made all these public promises to back Aspin and get us back into Lge 1 - has he entered into a verbal contract? And, if so, could he be sued if he reneges on these?

[melv]

ummm...this might sound stupid...and possibly is, but I'm really not sure of the law in this respect - if he's made all these public promises to back Aspin and get us back into Lge 1 - has he entered into a verbal contract? And, if so, could he be sued if he reneges on these?

 

Verbal contract or not.You can't guarantee anything in football.

[werstayinup]

Again time to prove it in the media and ruin his statement if that’s the case. They are doing nothing to weaken his position at all.

 

They show a reporter liquid funds enough to meet the asking price and his goose is cooked.

 

That would be fine if the asking price was a realistic one

[Jacko51]

Again time to prove it in the media and ruin his statement if that’s the case. They are doing nothing to weaken his position at all.

 

They show a reporter liquid funds enough to meet the asking price and his goose is cooked.

 

I don't think it behoves Synectics to do that. They show it to Norman when the offer is made. The problem is, any offer they make will be a sensible one, not one that matches his ludicrous valuation of the club so whether it would progress to proof of funds is a moot point.

 

Norman is doing an excellent job of weakening his own position after his performance last night in which he was proved to be handling the truth very carelessly

[Fosse69]

Again time to prove it in the media and ruin his statement if that’s the case. They are doing nothing to weaken his position at all.

 

They show a reporter liquid funds enough to meet the asking price and his goose is cooked.

As long as it matches his realistic asking price (Whatever that is) and they can fund the running deficit until the business become self sufficient similar to the likes of Burton or Accrington.

[Guest]

Not being controversial here but by getting up the back of the supporters, and them no longer attending isnt that if Smurf has ulterior motives playing into his hands .

So he can say there wasnt enough folk coming etc etc and his staff who he as employed (players not all but most of them ) have played there part in the closing down Sale and the end of Vale .

As they have let him demorolise them .

That may not be true but 5th from going out the league says IT IS .

[Mattholl]

I don't think it behoves Synectics to do that. They show it to Norman when the offer is made. The problem is, any offer they make will be a sensible one, not one that matches his ludicrous valuation of the club so whether it would progress to proof of funds is a moot point.

 

Norman is doing an excellent job of weakening his own position after his performance last night in which he was proved to be handling the truth very carelessly

 

The issue is jean you are dealing with a liar and a snake here. Doesn’t matter if they show Norman he can weasel his way out and say blacks white. Anyone buying the club needs to equally as calculated and cut throat to get a deal done. Should they have to do this, no will they have to play dirty with Norman absolutely

[Mattholl]

That would be fine if the asking price was a realistic one

 

Making another bid publicly and sticking to it for a few weeks would at least force norm to think about the price and explain to the masses what his thoughts are

[Jacko51]

The issue is jean you are dealing with a liar and a snake here. Doesn’t matter if they show Norman he can weasel his way out and say blacks white. Anyone buying the club needs to equally as calculated and cut throat to get a deal done. Should they have to do this, no will they have to play dirty with Norman absolutely

 

I understand what you're saying, Matt, but Mo Chaudary tried to do his negotiating through the media and that turned out well! One thing I do know for certain, the Shanahans will not allow themselves to be screwed over by Norman. I'm happy for them to play their cards close to their chest for the time being.

 

Incidentally, I thought I was the liar not Norman!!

[Sandyford_Lion]

Has anyone who can do sums worked out how we can be losing £160,000 a month?

 

Not backing him at all Jean but i am sure he did say that

" we are losing £160000 @ month Jan to April and then a further

£800000 during seasons.

 

From that i take it that we dont lose too much money August to December

[Jacko51]

Not backing him at all Jean but i am sure he did say that

" we are losing £160000 @ month Jan to April and then a further

£800000 during seasons.

 

From that i take it that we dont lose too much money August to December

 

Thanks for that, I was so confused by all the figures he was bandying about. So the loss is £1.4 million, rather than the £1.9 million I thought. Probably means Speedie will have to make do with a second hand Porsche!

[bookworm]

Why won't he release the P&L details with the Financial Statements? Because something very suspicious is going on behind the scenes...

 

He has openly admitted he is "numb" to the club.

He has openly admitted he is suffering ill health from being owner.

He has openly admitted he is out of his depth.

He has openly admitted his family are being abused (whether this is true or not).

 

So why would you not cut your losses and sell, then enjoy your retirement? Why? Especially when you're worth £80m?

 

He MUST be making money out of the club somehow. Hence WHY he won't sell and WHY he won't release P&L details so we can see EXACTLY what is going on.

 

My best guess is that as he's split the club into 1,000 different entities (ground, club, catering, club shop etc) he is taking profits out of the areas that do make profit and putting them back in as directors loans. Remember, he's "never lost out on a business deal and doesn't intend to start now".

 

he's yet to realise that they don't sew pockets in shrouds.