Vale made a profit.

[blackdog]

Oh what a tangled web weave when first we practice to deceive.

 

" Apparently " the club took out an insurance policy against players bonus' in the event of getting promotion,Apparently? does he have no handle on his business' finances

 

The most important thing to realise is Smurthwaite is just incompetent at running a football club.

[pjg1876]

........and can't afford to fund the £850,000 shortfall in the summer either?/QUOTE]

 

Fair enough as they will get no income until August. But can the sale of a football be made in a couple of weeks. It takes 3 months to move house !

[yoblet]

Good old Norm,,Boslems very own Donald Trump.

[Erniemossrules]

.....but can't afford to buy the ground???

 

Obviously they are the billionaires we have been looking for.

Another smokescreen to keep the truth from the fans.

Why would he keep hold of the club if things are as bad as he says.If he genuinely wants to sell the club why say he is putting loads of money into the club when he isn’t.

Blakeman had a perfect chance to ask awkward questions but played up to him and gave him an easy ride.

[melv]

So is the basic result of this .He is having a meeting with a potential new owner on Friday.They will pay the £50k exclusivity money.Then after looking at the situation they MIGHT buy the club.But NOT the ground.There will be an arrangement to pay Smurf rent for the ground for 5 years as part of the arrangement?

 

Oh and this is something that another club (League 1?) has done recently.

[gingersmum]

Won't be listening to Norm tonight. Made that mistake at the Supporter's Club meeting. Thought it'd be fair to at least give him the opportunity to articulate his vision, but he threw that notion back in my face.

 

It'll be a confusing, poorly structured ramble laced with 'I saved the club', obscure financial transactions we don't care about, and, if we're lucky, a couple more threats to liquidate us. There will be no concrete plan for the Summer, no real commitments on targets or future investment. Just a man feeding his own ego.

 

He's honestly not worth our time. I've made my peace in that he'll go on his own terms and there's little we can do about it. Ignore the clown tonight.

 

This is the best post I have read 👏👏

[Regal Beagle]

Vale make a profit but then this profit is moved around in various vehicles that he's split the club into, then it's put back into the club as a directors loan.

 

Why else would he not leave?

 

Just makes no sense though.

 

If he takes money out of the club he pays tax on it. Why would he take money out of the club, pay tax on it, and then put it back into the club?

[toyahw]

He took control of a team in league one that are now hovering on the brink of league oblivion. Any objective view views this as not a successful tenure?

[ELDERBEZZA]

Obviously they are the billionaires we have been looking for.

Another smokescreen to keep the truth from the fans.

Why would he keep hold of the club if things are as bad as he says.If he genuinely wants to sell the club why say he is putting loads of money into the club when he isn’t.

Blakeman had a perfect chance to ask awkward questions but played up to him and gave him an easy ride.

Really?I thought Blakeman got him in a corner at times and he stuttered his way out again with more dross answers. He needs to get out of the Vale asap. Smokescreen to avoid fans having a go at him at end of the season.

[Hagrid]

Don't care. Its all lies.

 

My only motivation right now is getting the backstabber Fradley out of his seat of privilege.

[SourceOfTheTrent]

Norman Smurthwaite (assuming that IS his real name and not just one he's made up) is a person who should attract a modicum of sympathy because he obviously suffers from some sort of personality disorder. I am deadly serious in that opinion and I've posted it on here in the past. He's probably in the 'high functioning' bracket of whatever issue he has but you only have to consider his behaviour and the statements he makes to realise he is somewhat fragmented in his thinking to say the least. I have honestly got to the stage where I don't believe anything he says but the more worrying thing is neither should he! We'll just have to hope he sells up and moves on before the club is completely destroyed.

[Hagrid]

I would have preferred a steaming PENNY BLACK Q&A to be honest.

[ELDERBEZZA]

Good way to make a bit of dosh ,with all the exclusivity fees!He's playing a dangerous game I'm afraid!!

[melv]

Good way to make a bit of dosh ,with all the exclusivity fees!He's playing a dangerous game I'm afraid!!

 

I fail to see WHY anyone would want to pay that sort of money for exclusivity right to buy the club but then rent the ground for 5 years?

[ELDERBEZZA]

I fail to see WHY anyone would want to pay that sort of money for exclusivity right to buy the club but then rent the ground for 5 years?

He can keep on having potential buyers paying the fee even though he possibly has no intention of selling Melv.I'm convinced he won't sell!