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Council tracking the situation

butt lane vale fan

By butt lane vale fan
in Port Vale present

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melv Community Regular

melv

Posted
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Apologies if already been mentioned, but the leader of Stoke on Trent council was just quoted on RS, basically saying their watching the situation very closely with regards to the new loan.

 

Yea heard it.Well part of it.Didn't quite catch all of what he said though.Might be on again in later news bulletin/sport's new's.

 

The screw is tightening.

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Pops Explorer

Pops

Posted
Posted
Apologies if already been mentioned, but the leader of Stoke on Trent council was just quoted on RS, basically saying their watching the situation very closely with regards to the new loan.

 

Ey-up. Radio Stoke with a bit of investigative journalism?:ohmy:

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fraggle Proficient

fraggle

Posted
Posted

With regards Mo taking control at some point - It would not surprise me if it was a pre-requisite or council pressures dictating that the club could not be sold to him (Given all the stuff that has gone on over the last 6 months)

 

In addition - Its now wonder the council are monitoring the situation...They stand to lose £2 million pounds!

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Timothius Newbie

Timothius

Posted
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With regards Mo taking control at some point - It would not surprise me if it was a pre-requisite or council pressures dictating that the club could not be sold to him (Given all the stuff that has gone on over the last 6 months)

 

In addition - Its now wonder the council are monitoring the situation...They stand to lose £2 million pounds!

 

Doubt they would be bothered as long as they got their money back!

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Vale Newbie

Vale

Posted
Posted

The council placed themselves in a no win situation.

 

I don't see how they will recoup all their money, the club in its current state will not last long, there will either be new owners but I can not see anyone taking on a £2 million debt so either re-negotiation and get something back or administration and they have a ground to do what with exactly? along with being responsible for the demise of a local club?

 

They really are and always were in a no win situation

 

And if someone does come in and agree to take on all the debt we are surely just delaying the date of administration. No one in their right mind would - Hi Bill

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bycars rob Community Regular

bycars rob

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The new mortgage company (Continental Solutions) will surely want all of their money back so could demand that the ground be sold. The council must get the best deal for the council tax payers so would also want as much of their money back as possible. To me this means it may be cheaper for someone like Mo to take over before administration is forced on us. If he is as good a businessman as his supporters would have you believe surely he could then run us in such a way as to pay the debt off.

In any case I can not see any justification for SEO as the smaller the debt the more viable we are as a going concern.

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Fosse69 Veteran

Fosse69

Posted
Posted
The new mortgage company (Continental Solutions) will surely want all of their money back so could demand that the ground be sold. The council must get the best deal for the council tax payers so would also want as much of their money back as possible. To me this means it may be cheaper for someone like Mo to take over before administration is forced on us. If he is as good a businessman as his supporters would have you believe surely he could then run us in such a way as to pay the debt off.

In any case I can not see any justification for SEO as the smaller the debt the more viable we are as a going concern.

 

But was the loan taken out legally? Is Miller responsible for it? Was he a legally elected director? Did the council agree to this mortgage as per the deeds they hold? Dont say Miller has scammed a loan shark?

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