Rudolf Hucker Posted May 31, 2019 Report Share Posted May 31, 2019 18 minutes ago, RedRaw said: "Bristol Rovers existence depends entirely on continued support from parent company Dwane Sports based in the tax haven that is Jersey" Dwane Sports clearly has no desire to own Bristol Rovers FC. They have no love for it, and it shows. The al Qadi’s purchase was a nailed on money-making business venture, gone wrong. Wael is obviously a nice guy and gives a damn but he holds no sway over the family’s business decision making. He runs the club because he’s the one in the family who loves football but he has no business acumen. Now the family has a business haemorrhaging money. It has huge debts and few assets. It’s unsustainable. Hard-nosed business people only take one decision in these circumstances. This won’t end well for the 15ers unless either a benefactor with very deep pockets steps forward or the car boot sale profitability rockets. 4 1 2 Quote Link to comment Share on other sites More sharing options...
Bristol Rob Posted May 31, 2019 Report Share Posted May 31, 2019 11 minutes ago, Rudolf Hucker said: Now the family has a business haemorrhaging money. It has huge debts and few assets. It’s unsustainable. They also own Bristol Rovers. #OverseasBankingLols 1 Quote Link to comment Share on other sites More sharing options...
IdliketoRogerMoore Posted May 31, 2019 Report Share Posted May 31, 2019 Long live king wally! For he’s a jolly good fellow and a lovely lovely man to boot! Quote Link to comment Share on other sites More sharing options...
Guest Posted May 31, 2019 Report Share Posted May 31, 2019 24 minutes ago, Bristol Rob said: There are still those who think Wally and Co have invested 13mil, overlooking the fact that their investment is secured against the Mem, and that they are lifting 400k a year in interest payments. Who is getting 400k in interest payments? Surely not Wally? Quote Link to comment Share on other sites More sharing options...
Bristol Rob Posted May 31, 2019 Report Share Posted May 31, 2019 32 minutes ago, wood_red said: Who is getting 400k in interest payments? Surely not Wally? Would guess Dibley Sports. They provide the finance. Quote Link to comment Share on other sites More sharing options...
Monkeh Posted May 31, 2019 Report Share Posted May 31, 2019 Looking at that and now the debt exceeds the value of their only asset, i fully expect them to fall into admin next season selling the mem to some Jordan based investment bank for development and them becoming homelless or out of business.......... which is pretty much what I predicted when the takeover happened only to be called jealous Quote Link to comment Share on other sites More sharing options...
Bar BS3 Posted May 31, 2019 Report Share Posted May 31, 2019 12 hours ago, BS4 on Tour... said: It’s actually not that funny anymore - it’s gone past that point and it’s just ridiculously annoying and tiresome now - they can’t even get 8k home fans at a home game - yet they’d take more fans to Baku than both Chelsea and Arsenal - both of whom were allocated just 6k tickets for the final - good f*****g grief - who the hell do they think they are?! And ringing in to radio stations craving attention and recognition is just pathetic - they’re a shite little lower league club with a pitiful kit, a sad, bitter, envious, petty, deluded, small fanbase that has somehow convinced itself that it’s massive .... oh and they were a non-league club just a few years ago ... yet now, one of them thinks that boring the nation’s radio listeners by claiming they have a bigger following than Chelsea and Arsenal somehow makes them relevant .... oh dear ... Rovers fans predicting how many fans they’d take IF they were in the Europa League final is like me arranging which order I’d like to take Rachel Riley & Beyoncé, when I have a threesome with them..! 2 14 Quote Link to comment Share on other sites More sharing options...
Port Said Red Posted May 31, 2019 Report Share Posted May 31, 2019 17 minutes ago, Bar BS3 said: Rovers fans predicting how many fans they’d take IF they were in the Europa League final is like me arranging which order I’d like to take Rachel Riley & Beyoncé, when I have a threesome with them..! If I was in that position then the other thing I would have in common would be that I would be watching them play whilst I made my decision. 2 2 Quote Link to comment Share on other sites More sharing options...
WhistleHappy Posted May 31, 2019 Report Share Posted May 31, 2019 1 hour ago, Bar BS3 said: Rovers fans predicting how many fans they’d take IF they were in the Europa League final is like me arranging which order I’d like to take Rachel Riley & Beyoncé, when I have a threesome with them..! Hmm, ….that's quite some conundrum 2 Quote Link to comment Share on other sites More sharing options...
Guest Posted May 31, 2019 Report Share Posted May 31, 2019 They have a lovely banner at the top of sagchat: DON'T LET YOUR DREAMS BE DREAMS BUILD A HOME FOR YOUR COMMUNITY Quote Link to comment Share on other sites More sharing options...
Vincent Vega Posted May 31, 2019 Report Share Posted May 31, 2019 If Carlsberg did Fridays.... 2 3 Quote Link to comment Share on other sites More sharing options...
Bristol Rob Posted May 31, 2019 Report Share Posted May 31, 2019 But if you consider SCMP (or whatever the League 1 FFP equivalent is), they can only spend 60% of turnover on players wages. And with then spending £97 of every £100 received on wages, none playing staff are taking about 40% of the income. Wonder if Wally takes a wage? In addition to the interest on the loan (that is secured against the stadium), they could well be taking them for a fortune. Quote Link to comment Share on other sites More sharing options...
Swede Posted May 31, 2019 Report Share Posted May 31, 2019 14 hours ago, Eddie Hitler said: Admit it though: you'll miss them when they're gone. In a word; no. People listening to that radio show that haven't been to Bristol will be left with the impression that all Bristolians are sad backward needy bastards who live in a dream world and have completely lost touch with reality, and it isn't an isolated incident, its happened before when we got to the Semi Final of the League Cup some cretin phoned in to say "there's another club in Bristol and we've got big support also" Embarrasing 3 Quote Link to comment Share on other sites More sharing options...
Coombsy Posted May 31, 2019 Report Share Posted May 31, 2019 Bristol Live spoke to expert Kieran Maguire, a lecturer at the University of Liverpool and chartered accountant. Mr Maguire also runs the website and Twitter account Price of Football. Here is a Q&A with the football financial expert. Could you explain what this first notice of compulsory strike off means? “It is a warning shot to the people who own the company that if they fail to submit their accounts then Companies House will continue with the action to have the company struck off and then legally they won't be allowed to trade. “This is normally done to encourage companies, and it happens to thousands of companies in the country, to get their act together and stop breaking the law because it is a criminal offence to fail to submit your accounts to Companies House and follow due process. Bristol Rovers are not the only EFL side to have not submitted their accounts on time are they? "No. Bury, Oldham, and Blackpool. If you take a look at the other clubs who have not submitted their accounts they are clubs which we might politely call 'clubs in crisis.' Clubs that have had issues in terms of winding up orders, county court judgements, failure to pay players, so it is not a gang I would particularly like to be part of. "If you take a look at the Championship there are two clubs which have failed to do that in Sheffield Wednesday and Bolton. Bolton are in administration and Sheffield Wednesday are alleged to have sold their ground to an unusual company by the owner to circumnavigate financial fair play, so both of those clubs have got a cloud over them at the moment. "It is a select group and you judge a man by the company he keeps, and this is not company I would like to be associated with if I was doing nothing wrong and had nothing to hide. "That is the concern. "By not submitting this information, which in theory should have been submitted to the EFL by December, so they can't say we have not got round to producing the accounts because you have got to have paid tax bills by now and you have to submit the information to the EFL by December." Should Rovers fans be worried? “I think it is too far to say Rovers fans should be worried but I think they should be encouraging the owners to do what is right legally. I would be concerned because you don't hide information unless you have got something to hide. “There are reasons why companies choose not to disclose information and it is never a positive reason. Would a possible takeover be a reason not to put accounts out? “I think that would be fairly tenuous because there are always tyre kickers around and anybody who is interested in buying a football club has to start somewhere and the first place they would start is the information which is in the public domain. But by not putting that information in the public domain you are effectively saying this is not a club which is run on a professional basis because we can't even do the basics of adhering to company law requirements. “If you do then try to get involved in a take over then you would do due diligence on the full company accounts which are available and you would be getting far more information than is available in published accounts. “I wouldn't be able to use a potential take over as justification for not submitting the accounts. Rovers can solve the issue by just submitting their accounts can't they, as they claim they have? “It is something which can be sorted within 24 hours because that information is already there, it should have been submitted to the EFL already. So if Bristol Rovers submit their accounts they just face a small fine and the issue will be resolved, is that right? “Yes that’s right. It does affect tens of thousands of companies a year who for shoodiness, or lack of organisation or professional management, they don't get round to doing it. "Bristol Rovers Football Club are one of the 92, they are one of the elites and there are no excuses." If for some reason Rovers accounts are not received and processed what would happen next? “It is effectively three strikes and you are out. This is a notice which will go in the Gazette, there will then be a second notice which says we are further down the road to striking off the club. remember Bristol rovers is water tight 4 Quote Link to comment Share on other sites More sharing options...
Rudolf Hucker Posted May 31, 2019 Report Share Posted May 31, 2019 4 minutes ago, Coombsy said: Bristol Live spoke to expert Kieran Maguire, a lecturer at the University of Liverpool and chartered accountant. Mr Maguire also runs the website and Twitter account Price of Football. Here is a Q&A with the football financial expert. Could you explain what this first notice of compulsory strike off means? “It is a warning shot to the people who own the company that if they fail to submit their accounts then Companies House will continue with the action to have the company struck off and then legally they won't be allowed to trade. “This is normally done to encourage companies, and it happens to thousands of companies in the country, to get their act together and stop breaking the law because it is a criminal offence to fail to submit your accounts to Companies House and follow due process. Bristol Rovers are not the only EFL side to have not submitted their accounts on time are they? "No. Bury, Oldham, and Blackpool. If you take a look at the other clubs who have not submitted their accounts they are clubs which we might politely call 'clubs in crisis.' Clubs that have had issues in terms of winding up orders, county court judgements, failure to pay players, so it is not a gang I would particularly like to be part of. "If you take a look at the Championship there are two clubs which have failed to do that in Sheffield Wednesday and Bolton. Bolton are in administration and Sheffield Wednesday are alleged to have sold their ground to an unusual company by the owner to circumnavigate financial fair play, so both of those clubs have got a cloud over them at the moment. "It is a select group and you judge a man by the company he keeps, and this is not company I would like to be associated with if I was doing nothing wrong and had nothing to hide. "That is the concern. "By not submitting this information, which in theory should have been submitted to the EFL by December, so they can't say we have not got round to producing the accounts because you have got to have paid tax bills by now and you have to submit the information to the EFL by December." Should Rovers fans be worried? “I think it is too far to say Rovers fans should be worried but I think they should be encouraging the owners to do what is right legally. I would be concerned because you don't hide information unless you have got something to hide. “There are reasons why companies choose not to disclose information and it is never a positive reason. Would a possible takeover be a reason not to put accounts out? “I think that would be fairly tenuous because there are always tyre kickers around and anybody who is interested in buying a football club has to start somewhere and the first place they would start is the information which is in the public domain. But by not putting that information in the public domain you are effectively saying this is not a club which is run on a professional basis because we can't even do the basics of adhering to company law requirements. “If you do then try to get involved in a take over then you would do due diligence on the full company accounts which are available and you would be getting far more information than is available in published accounts. “I wouldn't be able to use a potential take over as justification for not submitting the accounts. Rovers can solve the issue by just submitting their accounts can't they, as they claim they have? “It is something which can be sorted within 24 hours because that information is already there, it should have been submitted to the EFL already. So if Bristol Rovers submit their accounts they just face a small fine and the issue will be resolved, is that right? “Yes that’s right. It does affect tens of thousands of companies a year who for shoodiness, or lack of organisation or professional management, they don't get round to doing it. "Bristol Rovers Football Club are one of the 92, they are one of the elites and there are no excuses." If for some reason Rovers accounts are not received and processed what would happen next? “It is effectively three strikes and you are out. This is a notice which will go in the Gazette, there will then be a second notice which says we are further down the road to striking off the club. remember Bristol rovers is water tight The tone of the BP questioning seems to be on the lines of “But those faithful and true gasheads have nothing to worry about, right? Lots of other clubs are in the same position, aren’t they?” BP is only serving to perpetuate the delusion. Quote Link to comment Share on other sites More sharing options...
BTRFTG Posted May 31, 2019 Report Share Posted May 31, 2019 Does anybody with access to the accounts know why the football club made purchases through Dwayne Colony and where (from the Colony accounts) the £200k's worth of unpaid income (as debtors) comes from? Quote Link to comment Share on other sites More sharing options...
bcfc01 Posted May 31, 2019 Report Share Posted May 31, 2019 Seems the Pikeys are finally waking up to what is happening but a lot of them don't realise that the accounts they've published are up to June 2018. It'll be a whole lot worse by now. They need to produce a Lloyd Kelly or two from somewhere - then again, they'd probably flog him for £300k... Quote Link to comment Share on other sites More sharing options...
daored Posted May 31, 2019 Report Share Posted May 31, 2019 28 minutes ago, Coombsy said: Bristol Live spoke to expert Kieran Maguire, a lecturer at the University of Liverpool and chartered accountant. Mr Maguire also runs the website and Twitter account Price of Football. Here is a Q&A with the football financial expert. Could you explain what this first notice of compulsory strike off means? “It is a warning shot to the people who own the company that if they fail to submit their accounts then Companies House will continue with the action to have the company struck off and then legally they won't be allowed to trade. “This is normally done to encourage companies, and it happens to thousands of companies in the country, to get their act together and stop breaking the law because it is a criminal offence to fail to submit your accounts to Companies House and follow due process. Bristol Rovers are not the only EFL side to have not submitted their accounts on time are they? "No. Bury, Oldham, and Blackpool. If you take a look at the other clubs who have not submitted their accounts they are clubs which we might politely call 'clubs in crisis.' Clubs that have had issues in terms of winding up orders, county court judgements, failure to pay players, so it is not a gang I would particularly like to be part of. "If you take a look at the Championship there are two clubs which have failed to do that in Sheffield Wednesday and Bolton. Bolton are in administration and Sheffield Wednesday are alleged to have sold their ground to an unusual company by the owner to circumnavigate financial fair play, so both of those clubs have got a cloud over them at the moment. "It is a select group and you judge a man by the company he keeps, and this is not company I would like to be associated with if I was doing nothing wrong and had nothing to hide. "That is the concern. "By not submitting this information, which in theory should have been submitted to the EFL by December, so they can't say we have not got round to producing the accounts because you have got to have paid tax bills by now and you have to submit the information to the EFL by December." Should Rovers fans be worried? “I think it is too far to say Rovers fans should be worried but I think they should be encouraging the owners to do what is right legally. I would be concerned because you don't hide information unless you have got something to hide. “There are reasons why companies choose not to disclose information and it is never a positive reason. Would a possible takeover be a reason not to put accounts out? “I think that would be fairly tenuous because there are always tyre kickers around and anybody who is interested in buying a football club has to start somewhere and the first place they would start is the information which is in the public domain. But by not putting that information in the public domain you are effectively saying this is not a club which is run on a professional basis because we can't even do the basics of adhering to company law requirements. “If you do then try to get involved in a take over then you would do due diligence on the full company accounts which are available and you would be getting far more information than is available in published accounts. “I wouldn't be able to use a potential take over as justification for not submitting the accounts. Rovers can solve the issue by just submitting their accounts can't they, as they claim they have? “It is something which can be sorted within 24 hours because that information is already there, it should have been submitted to the EFL already. So if Bristol Rovers submit their accounts they just face a small fine and the issue will be resolved, is that right? “Yes that’s right. It does affect tens of thousands of companies a year who for shoodiness, or lack of organisation or professional management, they don't get round to doing it. "Bristol Rovers Football Club are one of the 92, they are one of the elites and there are no excuses." If for some reason Rovers accounts are not received and processed what would happen next? “It is effectively three strikes and you are out. This is a notice which will go in the Gazette, there will then be a second notice which says we are further down the road to striking off the club. remember Bristol rovers is water tight Its lazy journalism from the Post as usual. They should have made the lecturer aware of what a lovely man Wally is and the answer would have been straight forward; these things take time Quote Link to comment Share on other sites More sharing options...
Langford Red Posted May 31, 2019 Report Share Posted May 31, 2019 SO THE GASH OWE £20 MILLION AND THAT IS UP TO JUNE LAST YEAR THEY DID AWFUL AGAIN LAST SEASON TO TODAY SO THEY OWE EVEN MORE THAN £20 MILLION PROBABLY AROUND £22 MILLION OWED Quote Link to comment Share on other sites More sharing options...
bcfc01 Posted May 31, 2019 Report Share Posted May 31, 2019 1 minute ago, Bicester Red said: SO THE GASH OWE £20 MILLION AND THAT IS UP TO JUNE LAST YEAR THEY DID AWFUL AGAIN LAST SEASON TO TODAY SO THEY OWE EVEN MORE THAN £20 MILLION PROBABLY AROUND £22 MILLION OWED Losing around 65k per week... It should be an interesting AGM in a couple of weeks Quote Link to comment Share on other sites More sharing options...
Eddie Hitler Posted May 31, 2019 Report Share Posted May 31, 2019 22 minutes ago, BTRFTG said: Does anybody with access to the accounts know why the football club made purchases through Dwayne Colony and where (from the Colony accounts) the £200k's worth of unpaid income (as debtors) comes from? The 1883 accounts are up on companies House but I'm at work so can't yet read. Associated companies are Wiztek and Dwane Developments UK. I recall Wiztek had a large unusual transaction going through its books. Quote Link to comment Share on other sites More sharing options...
Ska Junkie Posted May 31, 2019 Report Share Posted May 31, 2019 6 minutes ago, Bicester Red said: SO THE GASH OWE £20 MILLION AND THAT IS UP TO JUNE LAST YEAR THEY DID AWFUL AGAIN LAST SEASON TO TODAY SO THEY OWE EVEN MORE THAN £20 MILLION PROBABLY AROUND £22 MILLION OWED Crikey yeah, they've got another year of -£65,000's to add on to the figure yet! Another -£3,400,000 then. They really are screwed aren't they? Happy days. 1 Quote Link to comment Share on other sites More sharing options...
Bristol Rob Posted May 31, 2019 Report Share Posted May 31, 2019 5 minutes ago, Ska Junkie said: Crikey yeah, they've got another year of -£65,000's to add on to the figure yet! Another -£3,400,000 then. They really are screwed aren't they? Happy days. Be more than that with interest! Quote Link to comment Share on other sites More sharing options...
bcfc01 Posted May 31, 2019 Report Share Posted May 31, 2019 2 minutes ago, Bristol Rob said: Be more than that with interest! Was it 450k interest in the current accounts ? So pushing close to another 4m loss up to June this year ? Not long now... Oh dear, what a shame, never mind. Quote Link to comment Share on other sites More sharing options...
Monkeh Posted May 31, 2019 Report Share Posted May 31, 2019 10 minutes ago, Ska Junkie said: Crikey yeah, they've got another year of -£65,000's to add on to the figure yet! Another -£3,400,000 then. They really are screwed aren't they? Happy days. There debt is about half of ours, except we have things to show for it x 2 Quote Link to comment Share on other sites More sharing options...
RedM Posted May 31, 2019 Report Share Posted May 31, 2019 Any chance the family would throw a bit of cash in to keep Wally away from the family business? Whist he’s playing football owner he’s at least got a toy, or wouldn’t they be allowed? Quote Link to comment Share on other sites More sharing options...
BTRFTG Posted May 31, 2019 Report Share Posted May 31, 2019 13 minutes ago, Eddie Hitler said: The 1883 accounts are up on companies House but I'm at work so can't yet read. Associated companies are Wiztek and Dwane Developments UK. I recall Wiztek had a large unusual transaction going through its books. There's a note in the football club accounts - just struck me as odd what income was outstanding for Dwayne Colony's asset? Presume the related purchases were fencing and security security patrols to protect the hallowed swamp? Quote Link to comment Share on other sites More sharing options...
BTRFTG Posted May 31, 2019 Report Share Posted May 31, 2019 6 minutes ago, Monkeh said: There debt is about half of ours, except we have things to show for it x We've also an owner who, should he so choose upon his passing, write off outstanding loans as irrecoverable debt, given the marginal impact on his overall tax liability. Not saying he will, but he might..... Quote Link to comment Share on other sites More sharing options...
Ska Junkie Posted May 31, 2019 Report Share Posted May 31, 2019 9 minutes ago, BTRFTG said: We've also an owner who, should he so choose upon his passing, write off outstanding loans as irrecoverable debt, given the marginal impact on his overall tax liability. Not saying he will, but he might..... and an ever rising turnover which obliterates them down the road. Quote Link to comment Share on other sites More sharing options...
Natchfever Posted May 31, 2019 Report Share Posted May 31, 2019 38 minutes ago, bcfc01 said: Losing around 65k per week... It should be an interesting AGM in a couple of weeks If it happens in a couple of weeks... Quote Link to comment Share on other sites More sharing options...
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