Eddie Hitler

Well I certainly know that if I was one of the richest men in the world with over a hundred billion then my biggest dream would be to become the owner of Bristol Rovers FC.

Bill Gates, Warren Buffet and Richard Branson will be crying themselves to sleep for weeks having been beaten to this glittering golden prize.

Anybody else remember Aldershot's "rescuer", Spencer Trethewy?

3 minutes ago, Iron Man said:

Disagree, the comedy show still has a long way to go.

I think that's wishful thinking. They'll have a good few years now IMO, then of course the wheels will inevitably fall off again.

But we'll always have the memories:

"I bin frew two divorces, the Thatcher years.."

It's good news for them, no question.

They were in slow decline as it was and would have spent more time in the Conference.

Now they can realistically aim to establish themselves in League One.

I am grateful and will always remember the two years of huge laughs that they have given every City fan.

Like all the greatest comedy shows they have shown great timing and not stretched it out to a third series but quit when they were ahead.

30 minutes ago, Barrs Court Red said:

Tomorrow......

The rumoured press conference is happening then?

Higgs to announce very little of note?

1 minute ago, phantom said:

Does anyone have a link to these figures?

Just edited one into my post above.

1 minute ago, Tomarse said:

Maybe they need someone with IT experience to join the board..

You're not volunteering are you Tomarse?

I have just had a quick glance and there is an absolute howler under Note 6:

Quote

Unrelieved tax losses of £XXX (2014: £XXX) remain available to offset against future taxable trading profits.

The XXXs are there in the proforma accounts and you are meant to replace them with the actual numbers you total and utter halfwits.

Edit: Link for anybody who wants a read https://drive.google.com/file/d/0By_oGcqNh_mNMWFlR21BUzV6VFpabHhJbGlKLTNoamlrLXdn/view?pref=2&pli=1

40 minutes ago, Drew Peacock said:

I wouldn't have said premier league, more championship.

They have physically signed the accounts off as being correct, I remember many an unhappy hour proof reading accounts checking every number, every spelling, every bit of grammar and cross referencing. GT will be highly embarrassed by this, quite rightly so too. 

The last time I went through City's accounts they had half a dozen minor errors (not as bad as that one, mainly narrative and the odd rounding).  The audits of these non-quoted football clubs are done on the cheap because they're not going to be pored over by financial analysts investing client money.  Grant Thornton are a decent firm and I can't see them losing much sleep over that one; it's not like they have a print run of thousands.

It was definitely an error then?  I didn't see anything on the gas thread and there's nothing linked from here.  Or are we assuming that it's an error?

3 minutes ago, ciderup said:

My bad bud. 

I always think of the Maxwells.  One idiot son notionally running Reading, the other idiot son notionally running Oxford.

Of course supercrook Robert Maxwell entirely controlled both; but not on paper.

12 minutes ago, ciderup said:

He can't own another club IIRC Eddie, it's against the FL rules IIRC.

I'm aware of that ciderup. But Maggie, for example, can.

This was very interesting reaidng from gasincider:
 

Quote

                                  June 14 accounts.             June 15 Accounts 
Total issued shares.          8,154,720.                        8,167,690 (page 21)
Individual holdings


NH.                                    4,419,828.  54.2%            1,500,000. 18.36%

BB.                                        938,293. 11.51%             938,293.  11.5%

EW.                                       261,456.   3.21%             142,857.    1.75%

CJ.                                        132,192.    1.62%              35,714.    0.43%

So maybe the takeover has already happened with Higgs selling a 36% stake.

Hope the buyer wasn't Steve Lansdown.

I'm not surprised that they're the subject of a takeover bid; just feast your eyes upon these beauties awaiting the lucky winner of the bidding race:

1 hour ago, pongo88 said:

Noel Edmunds recently said that he's had been asked if he was interested in investing.  He said "no deal"

Yes, he said he supported Exeter.

1 minute ago, Super said:

good or bad?

As the takeover approachs have been rumbling on for a while then it's probably good for Higgs as he gets to trouser some loot and escape, but bad for the people taking it over as they'll end up with the Rovers.

3 hours ago, Kid in the Riot said:

3 hours ago, Kid in the Riot said:

My sources suggest BRFC aren't exactly confident about winning this appeal.

 

I think they had to do it; I would have done.

The original ruling seemed very considered and in line with the law.

This appeal is based upon Sainsburys should have done the "right" thing rather than used the options within the contract to legally exit it. Sometimes this moral argument carries the day but they would be deluded to think they stand a strong chance of winning rather than it being something worth one more throw of the dice.

3 hours ago, cityloyal473 said:

Piggs keeps saying they're confident they will win the appeal.  If he's so confident,why doesn't he stump up the 199K?  That should have Sags worried.  

Why stump up real cash when you can provide a charge for the cost of the legal fees? They are paying sky high interest rates to Wonga already and £200k is a lot of money to a club that's new to the football league.

16 minutes ago, Bristol Rob said:

Why do Sainsbury's have a 200k charge against the Mem? I assume it's for legal fees if they win the appeal, but with both Wonga and Sainsbury's having a claim on the Stadium,  there is only the Grotto left without a mortgage on it.

When Plymouth Argyle nearly went through the hoop a few years back the number of fixed charges upon Home Park that came out were ridiculous; basically it was gone and then some.

I think the Council bailed them out and bought it, very corrupt.

Pitch could stand another mowing

Plastic chairs are going spare

23 hours ago, Eddie Hitler said:

 and Nick Higgs demanding that all of his "debt" gets repaid if there's a sale.

 

Quoting myself I know but thinking about this, Higgs' attitide really puts Rovers in a hole.

We are making stonking losses which is not good but Steve is covering them whilst reducing them annually so no harm done.

Rovers are making much smaller losses ?half a million a year? but they will mount up.  There was talk of somebody wanting to invest £40m in the gas recently.  Now that does not mean £40m to buy the club, it means £40m all-in.

So (estimating the figures) from the £40m they currently have:

• £10m to buy the Memorial Ground
• £5m to buy the club
• £5m to repay Higgs
• £5m to repay external debts
• £15m to build a new stadium and invest in the club

Every time they make a loss the amount required to repay Higgs external debts goes up, and the amount to buy the stadium and invest in the club goes down.  Give it another ten years with Higgs at the helm and that £15m will be down below £10m as the debts are ratcheting up steadily.

Who'd be a bluenose?

32 minutes ago, Red Right Hand said:

I love the way he doesn`t give a **** about what he looks like in interviews and that. he always reminds me of someone in The Levellers.

He was a hippy traveller for many years before starting the green business; there was a court case this year where his wife of the travelling years sued for a pay out from teh money he had earrned since.

3 minutes ago, Port Said Red said:

£5.4 million in debt? A non-league club! I don't know how that is sustainable, I know their owner has some cash but I don't imagine he is in the SL category.....

Journalists are lazy on this; they don't specify to whom the debt is owed.

If you own a club then the most tax-efficient way of putting money into it to cover losses is as debt; because should the club ever have money that you can take out then you just repay your own debt.  There's no tax on it; unlike a dividend payment or a salary.

Unless these debts are owed to a third party then they're only technically debts. In reality they're historic accumulated losses that the owner has funded with his own money.

Hence the Bolton owner writing off £180m of "debt", Steve Lansdown converting his " debt" to equity (which means accepting that he's not getting it back), and Nick Higgs demanding that all of his "debt" gets repaid if there's a sale.

Spot the odd one out.

5 minutes ago, Super said:

Have they received a bye to the third round?

Must have.  I forget how many they won by in the first round but it was presumably a hatfull as they were playing some tiddler in the same league as Paulton Rovers.

11 minutes ago, Red-Robbo said:

As the sale of the Mem was not covering the full cost of UWE and extra funds were required when the plans were first drawn up, I'm struggling to see how the sale of the Mem - the Wonga loan repayment now will fully finance their move.

Repeat after me:

Nick Higgs is an unrecognised financial genius

Nick Higgs is an unrecognised financial genius

Nick Higgs is an unrecognised financial genius

Wow, they've even though of a retractable roof in case of bad weather.  That ground will be part of our next world cup bid.