FatSuperman
Well-known member
- Feb 25, 2016
- 2,922
Previous owner clearly an absolute bell, for a ridiculous approach and massive unsustainable spend. But the new prick, who purchased the club for £1 (and took on the majority of the debt) should absolutely not be trusted.
Look at Kieran’s write up. Full of confusion and uncertainty. For me, I’m of the opinion that the prick owner, who does not care a bit about football, is going to steal the ground FOR ONE POUND and sell it on. If you look at the CVA, it appears like he is due a percentage of whatever is recovered by the administrators. Based on the terms of the CVA, all creditors get a quarter of what they are owed, assuming anything is recovered. So, if the ground is sold, all the creditors get up to 25% of their debt repaid from the proceeds. It’s actually unclear who owns the bulk of the debt, now, but a cynic would assume DALE is going to be a key beneficiary.
The pricks running the League let this absolute **** buy the club for £1, who probably had no way of funding the club, but worse, they have allowed this scenario where he can [probably] personally profit enormously from the crisis.
Please note that the above is simply my opinion. The fact Stephen Dale is a **** is entirely coincidental.
http://priceoffootball.com/bury-minutes-to-midnight/
Look at Kieran’s write up. Full of confusion and uncertainty. For me, I’m of the opinion that the prick owner, who does not care a bit about football, is going to steal the ground FOR ONE POUND and sell it on. If you look at the CVA, it appears like he is due a percentage of whatever is recovered by the administrators. Based on the terms of the CVA, all creditors get a quarter of what they are owed, assuming anything is recovered. So, if the ground is sold, all the creditors get up to 25% of their debt repaid from the proceeds. It’s actually unclear who owns the bulk of the debt, now, but a cynic would assume DALE is going to be a key beneficiary.
The pricks running the League let this absolute **** buy the club for £1, who probably had no way of funding the club, but worse, they have allowed this scenario where he can [probably] personally profit enormously from the crisis.
Please note that the above is simply my opinion. The fact Stephen Dale is a **** is entirely coincidental.
http://priceoffootball.com/bury-minutes-to-midnight/