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Bristol R*vers dustbin thread


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1 hour ago, bert tann said:

 

The debt to Dwane Sports Ltd is held by the football club's parent company Bristol Rovers 1883 Ltd and that is still outstanding. 

 

Smoke and mirrors, Bert. It's all to create an illusion of the club being valuable, when in reality, it's only value is the rugby ground.

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19 minutes ago, Bristol Rob said:

Doesn't make a lot of difference does it? Wally owns the club and owns Duane Sport.

This is true, but it does make a difference. Some of the Rovers supporters believe the club is debt free because of previous statements regarding finance / debt. As W C Fields said:

 
“If you can't dazzle them with brilliance, baffle them with bullsh*t”

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26 minutes ago, Bristol Rob said:

Doesn't make a lot of difference does it? Wally owns the club and owns Duane Sport.

 

But does he own the club and Dwane Sports Ltd ?

Or is his family still in control ?

This is what was said on June 19th.

But the £ 18.4 million loan owed to Dwane Sports by Bristol Rovers 1883 Ltd has not been capitalised. 

 

Firstly, Club President Wael Al Qadi has reached agreement for the acquisition of a controlling stake in our holding Company Dwane Sports from the other members of his family. This provides him with full control over Bristol Rovers (1883) Limited (BRFC1883) and Bristol Rovers Football Club Limited(BRFC).

As part of this process, Wael has agreed to capitalise £18.4m of loans owed to Dwane Sports from BRFC 1883 and £16.5m owed by BRFC to BRFC1883. In addition to the above, he has also agreed to write off £2.1m in interest that was charged on these loans, leaving the club (apart from our ordinary trade creditors, leasing and HP agreements) substantively debt free.

 

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7 minutes ago, bert tann said:

 

But does he own the club and Dwane Sports Ltd ?

Or is his family still in control ?

This is what was said on June 19th.

But the £ 18.4 million loan owed to Dwane Sports by Bristol Rovers 1883 Ltd has not been capitalised. 

 

Firstly, Club President Wael Al Qadi has reached agreement for the acquisition of a controlling stake in our holding Company Dwane Sports from the other members of his family. This provides him with full control over Bristol Rovers (1883) Limited (BRFC1883) and Bristol Rovers Football Club Limited(BRFC).

As part of this process, Wael has agreed to capitalise £18.4m of loans owed to Dwane Sports from BRFC 1883 and £16.5m owed by BRFC to BRFC1883. In addition to the above, he has also agreed to write off £2.1m in interest that was charged on these loans, leaving the club (apart from our ordinary trade creditors, leasing and HP agreements) substantively debt free.

 

Ah, so he is still owed millions either way.

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12 minutes ago, Bristol Rob said:

Ah, so he is still owed millions either way.

 

There was great rejoicing when it was announced that Rovers were substantively debt free and, apart from trade creditors and leasing etc, didn't owe the Al-Quidi's or anyone else a penny.

But now it turns out we still owe the Al-Quidi's at least £ 18.4 million and probably a lot more.

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10 minutes ago, bert tann said:

 

 

There was great rejoicing when it was announced that Rovers were substantively debt free and, apart from trade creditors and leasing etc, didn't owe the Al-Quidi's or anyone else a penny.

But now it turns out we still owe the Al-Quidi's at least £ 18.4 million and probably a lot more.

Bert - I’ve said this before and I’ll probably say it again as I’m a man of habit. You are far too sensible to be a Rovers supporter. You must be a true City fan who likes Adge Cutler and cider. 

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29 minutes ago, bert tann said:

 

 

There was great rejoicing when it was announced that Rovers were substantively debt free and, apart from trade creditors and leasing etc, didn't owe the Al-Quidi's or anyone else a penny.

But now it turns out we still owe the Al-Quidi's at least £ 18.4 million and probably a lot more.

Yes, that wasn't quite the announced narrative.

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46 minutes ago, Seneca the Younger said:

As said before, the ground is still worth the money he has put in. He hasn't risked any of his own money yet.

Maybe, but maybe not. Has anyone got an exact figure for the money in and the probable value of the land? Looking at it in another way, the money invested in Rovers by Wael could have been invested in a stock market fund instead. Even allowing for the recent dip due to Covid this would probably have provided a better return. 

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6 hours ago, bert tann said:

 

But does he own the club and Dwane Sports Ltd ?

Or is his family still in control ?

This is what was said on June 19th.

But the £ 18.4 million loan owed to Dwane Sports by Bristol Rovers 1883 Ltd has not been capitalised. 

 

Firstly, Club President Wael Al Qadi has reached agreement for the acquisition of a controlling stake in our holding Company Dwane Sports from the other members of his family. This provides him with full control over Bristol Rovers (1883) Limited (BRFC1883) and Bristol Rovers Football Club Limited(BRFC).

As part of this process, Wael has agreed to capitalise £18.4m of loans owed to Dwane Sports from BRFC 1883 and £16.5m owed by BRFC to BRFC1883. In addition to the above, he has also agreed to write off £2.1m in interest that was charged on these loans, leaving the club (apart from our ordinary trade creditors, leasing and HP agreements) substantively debt free.

 

Dwane Sports is owned 90% by Wael Al Qadi, 10% by his brother Samir. BRFC (the football club) after the capitalisation, is 96% owned by Wael, the remainder held by the Supporters Club and other small shareholders.

If BRFC(1883)Ltd‘s  next set of accounts don’t show the loan dealt with, then that would be a concern, but somehow I don’t think that’s likely.

As with Bristol Sport’s labyrinthine set up, money passes between companies, but in the end it’s all Steve Lansdown’s.

In this case it’s all Wael’s, just not so much of it.

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13 hours ago, weeble said:

Dwane Sports is owned 90% by Wael Al Qadi, 10% by his brother Samir. BRFC (the football club) after the capitalisation, is 96% owned by Wael, the remainder held by the Supporters Club and other small shareholders.

 

We only have one man's word for that and this is not how it appears at the companies registry in Jersey.

And the same man seems to have forgotten to tell Companies House in England that shares have been issued to capitalise the Dwane Sports loan so their charge over the Memorial Stadium can be removed from the record.

I think we might shortly be hearing from Mr Hani Al-Quidi who is not a great fan of Bristol Rovers FC and, at the moment, may not be a great fan of Mr Wael Al-Quidi.

 

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A mate alerted me to this message about their striker - Clarke Harris -it’s allegedly from  his personal trainer  about him moving elsewhere - apparently he sent this message and then deleted very quickly ... he’s apparently not played last night in their game due to a tummy upset .... and then this appears ... 

78A84D73-47BA-412C-9520-D67A90587B5F.jpeg

Edited by Brann-red
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8 minutes ago, Brann-red said:

A mate alerted me to this message about their striker - Clarke Harris -it’s allegedly from  his personal trainer  about him moving elsewhere - apparently he sent this message and then deleted very quickly ... he’s apparently not played last night in their game due to a tummy upset .... and then this appears ... 

78A84D73-47BA-412C-9520-D67A90587B5F.jpeg

Off to that bigger club Mansfield?

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17 minutes ago, alexukhc said:

Off to that bigger club Mansfield?

Rumoured to be the posh, can’t help but laugh at these belters.....

 
rovers5charlton5
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55 minutes ago
Antonio Fargas likes this
Quote
If this is true, and it could be as Ivan Toney is on the verge of a move away from Peterborough, then I would say the tweet is rubbish, as I wouldn't describe that as a 'fantastic move'.
 
oldgas
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34 minutes ago
 
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If he does sign for that rag-arseoutfit then I hope we return the favour and trouser a fortune for an absolute lemon like we’ve signed from them in the past. 
 
singupgas
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8 minutes ago
 
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If he goes, if we are demanding million or 2 for him,
Edited by RedRaw
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46 minutes ago, RedRaw said:

Rumoured to be the posh, can’t help but laugh at these belters.....

 
rovers5charlton5
Fans' Favourite
*****
55 minutes ago
Antonio Fargas likes this
Quote
If this is true, and it could be as Ivan Toney is on the verge of a move away from Peterborough, then I would say the tweet is rubbish, as I wouldn't describe that as a 'fantastic move'.
 
oldgas
Club Legend
*****
34 minutes ago
 
Quote
If he does sign for that rag-arseoutfit then I hope we return the favour and trouser a fortune for an absolute lemon like we’ve signed from them in the past. 
 
singupgas
Club Legend
*****
8 minutes ago
 
Quote
If he goes, if we are demanding million or 2 for him,

If they get an offer, he'll go. It's their only chance of income for months to come. Wael has tried to make out that he's been investing in the club, in an attempt to get on board with some serious players/developers. They can play hardball and make him sweat, that's if they're at all interested in having that club as tenants. In the mean time, he has to either put his own money in, or, generate some to keep them turning over. Their new manager/coach is probably realising about now, that he has to make do and mend, more than he thought. Wael of course has the benefit of being able to blame the covid situation for any financial problems. Why has the training ground come to a halt?

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10 minutes ago, Rich said:

If they get an offer, he'll go. It's their only chance of income for months to come. Wael has tried to make out that he's been investing in the club, in an attempt to get on board with some serious players/developers. They can play hardball and make him sweat, that's if they're at all interested in having that club as tenants. In the mean time, he has to either put his own money in, or, generate some to keep them turning over. Their new manager/coach is probably realising about now, that he has to make do and mend, more than he thought. Wael of course has the benefit of being able to blame the covid situation for any financial problems. Why has the training ground come to a halt?

If we get a reasonable offer he'll be off. One year left on his contract and he hasn't signed the extension on offer. The training ground hasn't come to a halt, it's under construction. First pitch ready by September, second by October.

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4 minutes ago, weepywall said:

Got bit of a nerve calling Peterborough a "rag-arse outfit" haven't they ? I would say Posh are  a similar size club to Rovers. 

The fewers are nowhere near Posh in stature. For a start Peterborough have actually developed their ground over the past few years and have something much more akin to a half decent stadium than a tented village.

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Well they're improving, they sold the focal point of their team and main source of goals for more than £300,000!

Except Mark Little I genuinely don't know who their players are. I remember Ed Upson played for Yeovil, but I also thought he was Matt's younger brother which isn't true!

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