Deering now a Director (25 Viewers)

[dongonzalos]

I know SISU are useless but to suggest they would make an offer which agreed to purchase the Higgs share and wasn't reliant on them performing even the slightest bit of due diligence is nuts. Wasps would have already seen the information as part of their due diligence for purchasing the council's half.

SISU allegedly offered £2 million cash up front for something they asked to pay £5.5 for if it wasn't cash up front. The £2 million was for something they say is worthless but they understood the charities position. How much due diligence do you need to do on something that is worth nothing that you are going to pay £2 million for?

 

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[Terry Gibson's perm]

As we have another new puppet/director is it possible than Joy is already bored with her latest plaything Anderson?

 

[Nick]

How much due diligence do you need to do on something that is worth nothing that you are going to pay £2 million for?

You would still need to do it wouldn't you?

Wasn't he on about the "offer" when Wasps took over?

 

[dongonzalos]

You would still need to do it wouldn't you?

Wasn't he on about the "offer" when Wasps took over?

Whatever point the offer is made at. You are offering around £2 million for something you yourself say is worthless.
If it's worthless don't give £2 million for it.
If it's worthless and you know it's worthless you have done your due diligence.
Unless it actually isn't really worthless then I can understand why you need to do due diligence.

 

[Nick]

Whatever point the offer is made at. You are offering around £2 million for something you yourself say is worthless.
If it's worthless don't give £2 million for it.
If it's worthless and you know it's worthless you have done your due diligence.
Unless it actually isn't really worthless then I can understand why you need to do due diligence.

If you are going to hand over 1p or £100m for a company you would do due diligence properly wouldn't you?

 

[Grendel]

Whatever point the offer is made at. You are offering around £2 million for something you yourself say is worthless.
If it's worthless don't give £2 million for it.
If it's worthless and you know it's worthless you have done your due diligence.
Unless it actually isn't really worthless then I can understand why you need to do due diligence.

Why do you keep droning on? The charity donation comment was a throwaway line - the £2 million wasn't a charity donation and as it's investors money then they'd have to do something in terms of worth assessment.

Stop repeating this again and again. It's boring.

 

[dongonzalos]

Why do you keep droning on? The charity donation comment was a throwaway line - the £2 million wasn't a charity donation and as it's investors money then they'd have to do something in terms of worth assessment.

Stop repeating this again and again. It's boring.

If it wasn't why suggest it was, in court giving evidence

 

[SkyBlueZack]

Another example of believing what you want to suit your argument. Tiresome.

 

[Grendel]

If it wasn't why suggest it was, in court giving evidence

It can't be a charitable donation if it's purchasing shares - you are allowed to make glib statements in court.

 

[dongonzalos]

If you are going to hand over 1p or £100m for a company you would do due diligence properly wouldn't you?

To be fair you are right you would still do due diligence. Incase owning the business would do you more harm than good.
However you also are very unlikely to handover 2 million for something that you perceive to be worthless.
Then again it also seems to be you also are unlikely to buy half of ACL just to tied you over whilst you crack on with building a new stadium.
Just my opinion though which counts for jack

 

[Nick]

Then again it also seems to be you also are unlikely to buy half of ACL just to tied you over whilst you crack on with building a new stadium.

Do you mean when Wasps came?

They weren't likely to buy it anyway, Wasps were here for 100%, Wasps wouldn't have been here for 50/50.

 

[wingy]

At the risk of going off topic maybe she's here to liase with John Sharp, he's in "The Rugby Paper " last weekend, apparently suggesting a desire to work with the football club again.
avaliable on line through pocket mag at £1-49.
I didn't think it was worth the price so haven't read it.

 

[Nick]

At the risk of going off topic maybe she's here to liase with John Sharp, he's in "The Rugby Paper " last weekend, apparently suggesting a desire to work with the football club again.
avaliable on line through pocket mag at £1-49.
I didn't think it was worth the price so haven't read it.

Wasn't he talking about developing the land around the Butts?

Would be interesting to see what he is saying now.

 

[dongonzalos]

Do you mean when Wasps came?

They weren't likely to buy it anyway, Wasps were here for 100%, Wasps wouldn't have been here for 50/50.

Yes when they submitted the offer.
They said they were still building a new stadium but buying half of ACL was just to safeguard the short term

 

[wingy]

Wasn't he talking about developing the land around the Butts?

Would be interesting to see what he is saying now.

There have been a couple of Articles on this before, not sure if it's just regurgitation, quotes "a reliable source ".

 

[Nick]

Yes when they submitted the offer.
They said they were still building a new stadium but buying half of ACL was just to safeguard the short term

That has nothing to do with the 2 million charitable donation though does it?

 

[dongonzalos]

That has nothing to do with the 2 million charitable donation though does it?

2 million at charitable donation time. I was wondering why the need for due dilligence hence on a charitable donation on something you already state is worthless. ( but I agree with you there actually is)

You pointed out that the convo is actually about the offer around the Wasps time

Ie The next offer around Wasps time, which I think was even more money for the "worthless" item. Was to be a short term purchase whilst building a new stadium.

 

[dongonzalos]

Butts is a great location
My only concern would be if at some point in the future we did have owners with both the means and desire to get into the championship play offs or top two. Is there room for a 30k stadium?
Would be horrendous to commit now to a 15-20k stadium with no potential for expansion.

 

[Nick]

2 million at charitable donation time. I was wondering why the need for due dilligence hence on a charitable donation on something you already state is worthless. ( but I agree with you there actually is)

You pointed out that the convo is actually about the offer around the Wasps time

Ie The next offer around Wasps time, which I think was even more money for the "worthless" item. Was to be a short term purchase whilst building a new stadium.

Of course it needs due dilligence whether it is deemed worthless or not.

I don't get what point you are trying to make?

 

[dongonzalos]

Of course it needs due dilligence whether it is deemed worthless or not.

I don't get what point you are trying to make?

Quite a while ago I posted that you are actually right you do need due dilligence, even if they are giving 2 million to a charity for something they say is worthless.
Since then I have just been answering your questions about my original post. Not sure why you are asking them but it's rude not to reply.

 

[shmmeee]

Another example of believing what you want to suit your argument. Tiresome.

Kind of rich from someone who thinks Northampton was a good idea.

 

[shmmeee]

Butts is a great location
My only concern would be if at some point in the future we did have owners with both the means and desire to get into the championship play offs or top two. Is there room for a 30k stadium?
Would be horrendous to commit now to a 15-20k stadium with no potential for expansion.

Butts is a fucking terrible location. There'd be traffic queued each way to the A45, Kenilworth Road and the Ring Road in both directions. It would be a nightmare.

 

[Astute]

I am unsure - perhaps he can provide a link

Thanks for payment. At least it is for a good cause.

Can you remember who else took the bet with me? I can't remember

 

[Nick]

Thanks for payment. At least it is for a good cause.

Can you remember who else took the bet with me? I can't remember

What was the bet? I can have a look through.

 

[Astute]

What was the bet? I can have a look through.

A certain ex striker wouldn't score more than 15 goals for Bury. Is payable to charity. Cheers Nick.

 

[oldfiver]

But what you have quoted specifically indicates that their next project was Drapers Hall doesnt it?

The Trustees only have to justify their actions to the charity Commission.

OSB: They do not seem to be doing much of that at the minute

AH Centre:

Financial year end (FYE)	Income	Spending	Accounts received	Annual Return/Annual Update received	View
31 Mar 2015			Not received (74 days overdue)	Not received (74 days overdue)

AEHC

05 Apr 2015			Not received (69 days overdue)	Not received (69 days overdue)
05 Apr 2014	£622,578	£4,371,085	04 Feb 2015	04 Feb 2015	Accounts
05 Apr 2013	£508,516	£342,921	01 May 2014 (85 days late)	01 May 2014 (85 days late)	Accounts
05 Apr 2012	£471,210	£477,511	01 May 2014 (450 days late)	01 May 2014 (450 days late)	Accoun

 

[Nick]

http://www.skybluestalk.co.uk/threa...ng-the-cash?p=923048&highlight=bet#post923048
harvey098

 

[Captain Dart]

A certain ex striker wouldn't score more than 15 goals for Bury. Is payable to charity. Cheers Nick.

You mean this over the hill dog?.
http://www.soccerbase.com/players/player.sd?player_id=36472

 

[Astute]

Cheers Nick

Could be CD

 

[SkyBlueZack]

Kind of rich from someone who thinks Northampton was a good idea.

You're a teacher, right?

 

[dongonzalos]

you are allowed to make glib statements in court.

This and "contracts are thereby be broken"
I hope I never come across you in form of business that requires an ounce of integrity.