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I’ve always worked hard and now, at nearly 39 years old, I have enough money to retire and live out the rest of my life in retirement, enjoying regular luxuries and treats for myself and my family. Well, as long as I die before I’m 40 I can..!

I think this is indeed what the future holds for them; I await the comedy hour when Geoff interviews the new Chairman on "Having a Gas". "Well Mr Henbury; I understand that the ground has been sold so the council can build an incinerator, Stu Sinclair is back to begging in the precinct again, you're renting at Twerton again, the club never owned the training ground in the first place because it was bought directly by Dwane Sports, and you're bottom of the fourth division. It's not looking good is it?" "You been listening to them gurt Teds, Geoff; it's all going really well. I have total faith in myself as owner and anybody who doesn't isn't a proper gashead. We have lots of assets but they just don't show up in the accounts and our league position is in no way reflective of the way that we have played in those games, all the referees are secret Teds who just want us to lose."

Talented squad members..? Are you aware who this thread is about..?!

But what it means in reality is: If WAQ/DS can find a new buyer (good luck with that), the selling price will be £10m+ which if it is achieved will enable WAQ/DS to walk away without having paid a penny from their own pockets for period of their ownership of the 15ers. The new owner will have to take on the ever rising debt as well as the "asset" that is the Memorial Stadium. They'll also have to be prepared to invest £50m to build a brand new, world class stadium comprising 27,501 seats to satisfy the 8,200 faithful and true. If WAQ/DS can't find a buyer, either WAQ/DS decide to benevolently fund the 15ers long into the future (because that's what hard-nosed investment bankers like to do) the selling price will rise, in line with the incurred losses (unlikely) or WAQ/DS will have to take action to prevent further losses (administration). From the outside, this seems to be the most likely outcome. Personally, I think that the only way out of this for the 15ers is for the supporters to galvanise themselves and persuade HG to sell his business to buy the club and its ground, probably from the Administrator in order to get the best price. Any prospect of redeveloping the ground or building a new one disappear in the scenario although expect to see crowdfunding efforts start in 2018.

Do you do pension advice as well, out of interest?

The mortgage analogy is only an analogy - this is not a mortgage. A mortgage lender can take possession in default of payment because that is a term of the mortgage deed. The mortgage also operates a charge. But an ordinary charge does not also contain a right to possession. A charge has the advantage of giving you priority if the person who owes you money becomes insolvent. If, and this is purely hypothetical, NLBR were to become insolvent (I am not in the know at all and actually doubt this will happen), the chargeholder would be paid the value of their charge in full from the sale of the land, any surplus would then be split between anyone else owed money. Football League rules mean football debts (wages etc) are paid first, so those at the back of the queue would be anyone non-footballing people like HMRC, contractors, pie suppliers, fence builders etc. The chargeholder can, with the court's permission, force a sale but it is difficult and expensive, especially as the chargeholder (WAQ/DS) would be taking NLBR (which he/they own) to court. If they sell NLBR, it is unlikely the new purchaser wouldn't also acquire the Mem so the charge would fall away, providing the loan is repaid. It would get murkier if NLBR was sold and either the loan wasn't repaid or the new owners didn't also take on the Mem, but I'll cross that bridge if we need to. Most football clubs are bought and sold cheaply on the understanding that all debts will be paid (I think Rangers were sold for just £1 when they were sold before their financial difficulties became known). That's what Higgs did - the £10m loan was to pay off all the debts (or so we are told). The charge doesn't increase the asking price, WAQ have just taken a different approach from Higgs. I'll leave you to decide if it suggests that Higgs was confident that he would be paid in full when he sold because the club had some (apparent) value to a buyer, and that on the other hand WAQ was concerned about the club's value and so made sure he would be paid by taking a charge over the most valuable asset which could be sold without a buyer for NLBR being found. On a side note, I am not aware SL has ever taken a charge out over BCFC, Bristol Sport or any of their assets.

The Rovers saga is shaping up to be like a re-run of Evelyn Waugh’s novel Decline and Fall. The prosperity promised through Nicholas’s millions turns to dust and the prospect of dire mediocrity coupled with interest slavery looms. Then, miraculously like a genie from a lamp, the Al Qadi family appear and spirits are raised to new heights. But with the UWE Stadium on the eve of construction it suddenly all falls to pieces and gloom descends once more. Rovers look as though they are finished completely when an unforeseen helping hand enables them to revert to the lowly position they were trying to escape from. But this time, effectively neutered, they are quite content to accept their status as permanent underdogs. Sorry it couldn’t be a happy one but Evelyn’s endings are notoriously realistic. Many people are unaware that we actually came down from Oxford together although I got off at Stapleton Road and she carried on to Temple Meads. There are even claims that I was the inspiration for her masterpiece Bridewell Revisited.

So they're ****** then...!

The horse will obviously be at the vets, having been punched in the face....

WAQ and the beanstalk. Minus the pantomime horse, of course.

A hero in my eyes.

As it's quiet!

Wally Baba and the Pikey Thieves

Their companies' house site will be worth a regular visit for filings, SJ. https://beta.companieshouse.gov.uk/company/04501223/filing-history Accounts (to June 2017) are due end of March but there could be other charges as they scout around to secure any more money they may have to put in to complete the season. Maybe a further £1.1m charge on the ground as it's valued in the accounts at £11.1m.

They'll be lucky to get Taylor money for Bodin, he's out of contract at the end of the season. £150K tops I reckon (half a Taylor)

never, he's always converted monies owed to equity

ding ding ding ding, we have a winner,

Using the mortgage analogy presumably if they default on interest payments it opens the door for the lender to take ownership of the borrowers assets?

You are exactly right. So... unless someone is prepared to cover Wally’s £10million before they spend a penny on actual investment, then Rovers are left without a pot to piss in.

and serious investors won't look at Bristol Rovers, they may look at us because we have the facilities in place but there are so many other clubs with much better facilities in the lower leagues that they would look at first, plymouth, portsmouth, doncaster, rotherham, all bigger and better clubs

Half a snake is nearly an ake, or a sna. It could be a per, a der, an onda, a cor, or bra. And I haven't touched a drop, perhaps I should, whilst getting my coat.

Sheer Heart Attack - Queen

The one with Dopey in.

I think this saga is shaping up like a re-run of “The Tiger Who Came To Tea”. A story of a tiger who arrives and eats everything in the house (takes all the assets) and then leaves never to be seen again.

A sensible, level headed chap!

Yes they could just pull the plug though it is a faff that they would presumably rather avoid; though the £10m includes the interest. So they would would be getting their money back plus interest rather than £10m plus interest. If you see what I mean!

And he'd be mad to leave in January, he'll wait till June and kop a nice big signing on fee all to himself.

He’s out of contract in the summer. Won’t generate anywhere near what he’s “worth”

I bet they are shitting themselves about getting Billy Bodin in a fit state to be sell able in a few weeks time

But aren’t “they” paying him interest from the money taken against the charge..? Effectively borrowing more money to pay interest on the monies already borrowed, all stacking up against the ground..?

As the major holder of a charge on the mem, can WAQ force the sale of the land to recoup his / DS's £10M? They would be seriously up sh1t creek if he can.

I've seen a few posts in which people say that WAQ's charge over the Mem means NLBRFC2015 either don't own it or that it's value has been reduced. Neither is wrong exactly, but also neither is an accurate description of the effect of a charge. Essentially, it works the same as a mortgage. The charge doesn't change who owns the land. However, if it is sold, the charge holder (WAQ/Dwayne Sports) gets paid first. We're told the charge is to cover the £10m loan meaning the charge holder gets the first £10m of any sum paid to buy the ground. It does not devalue the property. Same as if you sell a house with a mortgage, the bank gets its cut first, and you get whatever is left (proceeds of sale). It is, however, unlikely the ground would be sold. If the club is sold, WAQ/DS will be bought out and their loan repaid, meaning the charge will be removed. The new owners can then charge or sell their new asset as they wish. The charge doesn't change who owns the Mem or its value, except that in effect, the charge holder 'owns' the first £10m and so the value to the seller (not the buyer) is reduced by the same amount.

I'd be amazed if the previous board wanted to get involved again. They were hardly popular with the fans, especially after the greatest moment in sporting history when under their stewardship they took them to the conference.

The problem the sags have regarding investments is that any potential investor / buyer has to clear the debts before anything else. Just to stand still they would have to spend millions. That can't make the club an attractive proposition for anyone. An investor puts money in with the expectation of getting more back at some point. I don't see how Rovers could be in that situation.

That list would be endless and include half the Conference Prem clubs! I genuinely can’t think of a worse stadium in the football league and now they don’t even own that, thanks to Wally’s charge on it.

I’d love him to do a follow up video to that one. Right now..! Preferably filmed on location, from their new disabled enclosure, with the tent end flapping around in the back ground.

Old Redeyes Is Back.....Beautiful South

What a ####ing wanchor. I hope he gets reminded of this, every single day, for the rest of his miserable, pointless life !

I see Amir Khan is on I'm A Celebrity Get Me Out Of here. You'd have thought he'd already made more than enough of a w @ nker of himself for one year tbh.