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Wanderers Ways - passion not fashion
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Sweaty Ken

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3 minutes ago, frank_spencer said:

Nothing new to us who follow the ins and outs of the club but the likes of f365 are reporting to people who usually only read about the Prem and top European clubs. 

Fair point Frank, though perhaps more important he gets it a bit more accurate.

Seemed a bit half arsed. Conn's is better.

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54 minutes ago, Casino said:

i read a post from another of our fans who is clearly yet another accountant amongst our fanbase

 

stating we are trading insolvently

could a real accountant tell me what trading insolvently actually means....and are we?

We are, or rather we were. Only ken and his finance team would know if we truly are now. But the fact we can never pay anyone indicates we are actually trading insolvent.

But many clubs are. And in the fucked up of world of football it allowed to happen.

 

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I know it's old ground; but given the large reduction in players' wages, and apparent non payment of bills, what is happening to the money that is actually coming in?

Is it really that paltry that we can't afford hot water at the training ground?

If it really is that simple that we're not generating sufficient cash to function at this base level, then administration seems inevitable.

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Posted (edited)
4 minutes ago, Tonge moor green jacket said:

I know it's old ground; but given the large reduction in players' wages, and apparent non payment of bills, what is happening to the money that is actually coming in?

Is it really that paltry that we can't afford hot water at the training ground?

If it really is that simple that we're not generating sufficient cash to function at this base level, then administration seems inevitable.

From what I can tell there'll be 4 main income streams:

* Telly money

* Matchday 

* Merchandise

* Corporate Events

 

The Telly money isn't exactly Premier League

Matchday will be fairly shit as 75% is already paid by ST holders

My son has a £10 bob hat with BWFO on it.

Little Mix

 

I would imagine the cashflow is dreadful.

Edited by Spider

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23 minutes ago, gonzo said:

Bunch of absolute fucking retards. 

Hope bury fans smash them all over the show. 

T-shirts, counter t-shirts, mental statements, tit for tat between "professionals" and now this.

Id rather Wanderers be hated than seen as an absolute laughing stock, these are truly miserable times.

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4 minutes ago, Spider said:

From what I can tell there'll be 4 main income streams:

* Telly money

* Matchday 

* Merchandise

* Corporate Events

 

The Telly money isn't exactly Premier League

Matchday will be fairly shit as 75% is already paid by ST holders

My son has a £10 bob hat with BWFO on it.

Little Mix

 

I would imagine the cashflow is dreadful.

Hence ken constantly pushing tickets, events and merchandise in his notes.

Yet he gets berated for that too.

 

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:D fuck me haha

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Isn’t this about the fourth time HMRC have come knocking?

It stopped being news ages ago.

It’ll only be news if the day comes when we just don’t pay. 

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Getting completely fed up of all these "reports" coming out

None of them add anything new, many are inaccurate (that SKY one!!!!) and most just appear to be written by, or on behalf of attention seekers desperate to jump on today's bandwagon

Any "serious" articles all appear to be generated on the pretext of promoting how "esteemed" Iles is, so to me there's a nice little media cabal in the background generating nothing but useless white noise

Have to say though that Ken's note today really made me belly laugh. Fucking brilliant. One shyster has a go at another and gets a full bodyslam back. He gained a bit of respect from me for that

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35 minutes ago, HomerJay said:

We are, or rather we were. Only ken and his finance team would know if we truly are now. But the fact we can never pay anyone indicates we are actually trading insolvent.

But many clubs are. And in the fucked up of world of football it allowed to happen.

 

Incorrect sir. If your assets are more valuable than your liabilities then you are not trading insolvently. It's when the liabilities (Loans to Warburton, James, Davies etc) exceed the assets. To put it simply, if he borrows £20m against BWFC assets & the asset value is only £19m then this, along with an ongoing loss-making business, would mean that you are insolvent.

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1 minute ago, Steejay said:

Incorrect sir. If your assets are more valuable than your liabilities then you are not trading insolvently. It's when the liabilities (Loans to Warburton, James, Davies etc) exceed the assets. To put it simply, if he borrows £20m against BWFC assets & the asset value is only £19m then this, along with an ongoing loss-making business, would mean that you are insolvent.

Question are we a PLC

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Just now, Steejay said:

Incorrect sir. If your assets are more valuable than your liabilities then you are not trading insolvently. It's when the liabilities (Loans to Warburton, James, Davies etc) exceed the assets. To put it simply, if he borrows £20m against BWFC assets & the asset value is only £19m then this, along with an ongoing loss-making business, would mean that you are insolvent.

Well considering our assets were commonly seen to value around £100m before the training ground sale, Ken can spend the fuck up!! 

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Posted (edited)
2 hours ago, tyldesley_white said:

But people got pissed off that he was saying nothing, now he's spoke people are pissed of with that too, what do people really want, my answer to that is they don't fucking know

I know what I want

I want him to directly address this quote about bankrupting the club not being an issue to him

instead  he has now twice avoided it saying he won't lower himself to respond

before lowering himself with some tit for tat link about once of the guy's businesses struggling

to be fair, I get it, when people say "I won't grace that with an answer" it's because they have no answer

so it's probably true

Edited by ZicoKelly

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13 minutes ago, Steejay said:

Incorrect sir. If your assets are more valuable than your liabilities then you are not trading insolvently. It's when the liabilities (Loans to Warburton, James, Davies etc) exceed the assets. To put it simply, if he borrows £20m against BWFC assets & the asset value is only £19m then this, along with an ongoing loss-making business, would mean that you are insolvent.

Fair comment 

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3 hours ago, MalcolmW said:

There is plenty more he could have said about Vince but maybe thinks that would be unethical(?).

Unethical?  I'd rather think he was saving the real diet for his next reply.

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16 minutes ago, ZicoKelly said:

I know what I want

I want him to directly address this quote about bankrupting the club not being an issue to him

instead  he has now twice avoided it saying he won't lower himself to respond

before lowering himself with some tit for tat link about once of the guy's businesses struggling

to be fair, I get it, when people say "I won't grace that with an answer" it's because they have no answer

so it's probably true

If it was true, its probably a case of a threat from the carrot muncher meet by a counter threat from Ken all in the heat of the moment.

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Southend have received a winding up order today as well.

Phil Brown is clearly the problem, not Ken.

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Posted (edited)

Ken T-shirts are out everywhere, he needs to cut himself in.

Edited by Mr Grey

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32 minutes ago, Steejay said:

Incorrect sir. If your assets are more valuable than your liabilities then you are not trading insolvently. It's when the liabilities (Loans to Warburton, James, Davies etc) exceed the assets. To put it simply, if he borrows £20m against BWFC assets & the asset value is only £19m then this, along with an ongoing loss-making business, would mean that you are insolvent.

Thank you

And to Dave further up

I hoped as much

Question though, what effect does the ACV have on the book value of the ground. I presume that normally it would be worth more flattened?

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Wonder if we'll be organising a coach to Southend as well

#FuckDaRevenue

#FootballBrotherhood

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Posted (edited)

The owner of an asset of community value must inform the local authority if they wish to sell the asset. If a group wants to buy the asset, they can trigger a moratorium for six months, to give them a chance to raise the money to purchase the asset. The owner does not have to sell to a community group. The asset of community value listing only improves the chances of community groups being able to purchase by providing more time to raise funds. It does not require the owner to sell at a discount.

The listing of a property as an 'Asset of Community Value' lasts for five years after which it is automatically delisted and the restrictions imposed by the covenant are removed. Communities can however apply for the listing to be renewed. Care should be taken to ensure the listing is continuous- apply for renewal not less than 8 weeks before the original listing ends.

Edited by Wullie

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Just now, Wullie said:

The owner of an asset of community value must inform the local authority if they wish to sell the asset. If a group wants to buy the asset, they can trigger a moratorium for six months, to give them a chance to raise the money to purchase the asset. The owner does not have to sell to a community group. The asset of community value listing only improves the chances of community groups being able to purchase by providing more time to raise funds. It does not require the owner to sell at a discount.[4]

The listing of a property as an 'Asset of Community Value' lasts for five years after which it is automatically delisted and the restrictions imposed by the covenant are removed. Communities can however apply for the listing to be renewed. Care should be taken to ensure the listing is continuous- apply for renewal not less than 8 weeks before the original listing ends.

Yeah, I know that

It's more I don't see that the stadium really has much of a value to anybody other than us

So how do we value our assets at pushing 1 million?

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Doesn't affect value, the value remains whatever someone is willing to pay for it, the ACV just restricts the actions a current owner can do with or to it, and only for 5 years, so the ACV just is a small barrier, and wouldn't affect the club being sold, even though Ken has intimated that it has or would

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Posted (edited)

The reason I’m happy we have ACV is that it stops KA buying the stadium for three pence and renting it back to the club for silly money. That’s happened at other clubs and something we must avoid at all costs. 

Edited by Mounts Kipper

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