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| Quote Early Bath="Early Bath"Cant be done can it? Bank Account is frozen. Maybe any new Company should honour the 5 year ticket holders as a one off goodwill gesture. What about the Box Holders who paid up front? Similar situation maybe. Its not JAWs liability though.
Johns gesture of converting loans to Equity though is indeed magnanimous and maybe the Council could be persuaded to take shares/loan stock too which would have a big effect on the Company`s solvency and maybe then the Bank account could be unfrozen.
`Inevitably pulled`. Thats not necessarily so just yet is it? Over 2 weeks to the Hearing & I would be surprised if the parties didn't come to a compromise and Repayment Plan for monies they would have NO hope of collecting if the Company goes into Admin etc.'"
I really do admire you defence of your hero,he is not mine,as you already know EB. The council, in my opinion,would of passed this money over to the club if it had not leaked into the press and the Salford public had not got wind of it.So do you not think that the same people will not complain if they are told that they are now going to have to stump up some more money to buy shares in the club.The mayor as said i believe that the council can no longer help Salford money wise any more.Which i agree with ,why should Salford folk bail out a failing private company.Admin,c.v.a,do we need anymore of this digging up who`s done what and whos had this and so on.Lets bite the bullet,accept what we have not got ,get organised as a group of supporters and have a go at getting our club back on its feet and playing again,against who,I DON`T CARE,as long as they play in red and are known as Salford RFL.Where there is hope,there is always a tomorrow,where there is sorrow there will be no tomorrow.
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| Highly unlikely that the council will move on their position now. It seems they are prepared to lose what they are already owed, but will not put anymore at risk. I think an external investor will be the only way forward. Where one of those is found is anybodies guess.
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| Quote mitie mouse="mitie mouse"I really do admire you defence of your hero,he is not mine,as you already know EB. The council, in my opinion,would of passed this money over to the club if it had not leaked into the press and the Salford public had not got wind of it.So do you not think that the same people will not complain if they are told that they are now going to have to stump up some more money to buy shares in the club.The mayor as said i believe that the council can no longer help Salford money wise any more.Which i agree with ,why should Salford folk bail out a failing private company.Admin,c.v.a,do we need anymore of this digging up who`s done what and whos had this and so on.Lets bite the bullet,accept what we have not got ,get organised as a group of supporters and have a go at getting our club back on its feet and playing again,against who,I DON`T CARE,as long as they play in red and are known as Salford RFL.Where there is hope,there is always a tomorrow,where there is sorrow there will be no tomorrow.'"
MM - I think its fair to say that I am a loyal follower of JAW for the simple reason that without him last Mondays meeting would have taken place 31 years ago. So lets move on please for the good of the club.
I am not suggesting any more money comes from the Council though it would be welcome of course. I am suggesting that the existing loan is re negotiated and `capitalised ` in order to dress up the Balance Sheet in a similar way to that of the Board capitalising their loans.
If the `debt` is expunged it will make it easier for new partners/investors to come on board. Just needs some clever heads to get round the table and plan the way forward.
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| Quote Theboyem="Theboyem"Highly unlikely that the council will move on their position now. It seems they are prepared to lose what they are already owed, but will not put anymore at risk. I think an external investor will be the only way forward. Where one of those is found is anybodies guess.'"
Exactly,why has he waited until the last minute for assistance off the fans,apparently he seen this happening a long time ago,so why not act then.....Eggs in one basket summising that it was a done deal with peel and the council,8500 turning up every home game,merchandise flying out of an unstocked store,season tickets selling like hotcakes,corporate sold out,jesus we all dream but come on,hotels, richest club in Rugby League,Simms signing the best players in the world,...oh yeah he does not sign players,it goes on and on.
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| Quote Early Bath="Early Bath"MM - I think its fair to say that I am a loyal follower of JAW for the simple reason that without him last Mondays meeting would have taken place 31 years ago. So lets move on please for the good of the club.
I am not suggesting any more money comes from the Council though it would be welcome of course. I am suggesting that the existing loan is re negotiated and `capitalised ` in order to dress up the Balance Sheet in a similar way to that of the Board capitalising their loans.
If the `debt` is expunged it will make it easier for new partners/investors to come on board. Just needs some clever heads to get round the table and plan the way forward.'"
Of co you are a loyal follower,i`ve no complaints with that in fact good on yer.How can you say that would of taken place 31 yrs ago,who knows, i don`t,what i do know is that Salford would of carried on in some shape or form. Dress up the balance sheet would worry me EB,that sounds like your not telling the actual reality of what is going on. Yes it needs clever heads to plan the way forward,but in my opinion we havent had a clever head on our board to take us forward and there it is in a nutshell,our leaders have failed,accept it,get rid.
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| MM I think you will get your wish re a new Board - certainly JAW & HC want away and their gesture to capitalise their loans is quite fantastic. We are talking millions not a few quid. Now if we can get the Council to follow suit then we just may get the scent of survival.
Its all really down to them - their loan has to be renegotiated to a long term equity arrangement then a new investor has a clear playing field.
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| EB - I don't know enough about local authority law to comment on what you suggest - if it could be done then clearly that could be a way forward. However I suspect the forces against would be calling for scrutiny pretty loudly!!
As I see it, unless around £1/4 million appears in the next two weeks before the winding up hearing that all is lost! The last I heard from Steve McCormick's initiative around £20K has been pledged so about 10% there - Anyone have any updates??
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| the council have one big problem come next May, it may have 50% of one big white elephant.
no Salford using the ground
no Sale using the ground ( Sale go down, the ground will be to expensive)
only the odd booking
and all that lost money
or
put on one side for a few years the requirement for any money back
help anyone taking over with sponsorship
reduce the ground fees
maybe help Swinton to play at the ground (after all the money put into the City Reds it will be hard for the council to sell the idea of building a ground for them)
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| Barton - We need to lobby the pro SCR Council members pretty quickly to make them see sense re their existing position. Nothing or a long term equity situation. Can this be galvanised pdq?
Bryan - All your points are totally correct. Swinton should be playing there so too Man U reserves & Sale and the whole charging structure needs a complete overhaul geared to income generated from the various clubs. Its not rocket science - if you have a commercial asset you have to have the returns. We - the SCR fans have to understand that our existing game is over and a new one has to commence at Barton..
Otherwise - as you say - the White Elephant will not be fed and the Council will have to maintain the upkeep costs at enormous further expense to the Rate payers of the City. I don`t think that fact would go down too well at the next Council meeting!
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| Quote Early Bath="Early Bath"MM I think you will get your wish re a new Board - certainly JAW & HC want away and their gesture to capitalise their loans is quite fantastic. We are talking millions not a few quid. Now if we can get the Council to follow suit then we just may get the scent of survival.
Its all really down to them - their loan has to be renegotiated to a long term equity arrangement then a new investor has a clear playing field.'"
First of all EB,thanks for not telling everybody that i`ve been brain damaged in a car crash and that i hav`nt a clue really,them people say things like that really pi// me off,i respect your comments,but you keep bringing up the council,it cannot happen now,and it really should`nt,would you let the kids of solly go without,would you let the old and infirm go without just to keep Salford in S/L.?As much as i love my club no way on earth would i deny them people.Howard ,i stood beside him back on the terraces with my dad back in the sixties,top man.Co they want away now,would they if it would of worked?
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| The fear of a white elephant is without doubt our best hope right now. With that in mind, Sale's current precarious position suits us perfectly (although it wouldn't be in our interests for them to go down the tubes altogether as the more tenants the cheaper the overheads).
If we do somehow fluke our way out of this mess we do need to play hardball with the SMC, not only over fees but also over divisive issues such as the shop, the supporters bar etc.
I still happen to think a newco in CC1 is the most likely option though.
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| MM - I am not suggesting that the Council put more money in.
I want them to alter the terms of their existing loan into a long term equity plan which would ultimately benefit the Children of Salford. If the club goes into Administration or is Liquidated all their loan monies become worthless anyway. The `equity` plan gives them a chance to recoup some revenue.
Personally feel that this `horse` could be a runner if only the Councillors pro the club could push it through. Their stance should be to tell the opposition that if we (SCR) go then they (Council) go. Simple. Time for tough talking I feel.
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