Shambles engagement forum

[Young_Nudger]

The only down side of tonight - and I’m being brutally honest here - for me is that Roma and Animal weren’t there with me to witness the event.
It was ……. FABULOUS!!!

[Ponty End]

No one is asking you to follow anything.
Including the club.
My advice would be - if you feel that strong then stop following - the club.

If only, but thats an excellent quote, aimed at someone who is yet again gutted they haven't got much to whinge about & are having to scrape the barrel to spread their daily poison about BFC.

Almost feel sorry for Jules88, animallittle & SRRed48. Norwood & Cole more or less ruined this fans engagement, we are supposed to be heading straight towards league 2 and yet we have a striker signed this summer (as promised) and one of Conways boys banging em in & getting us in a play off spot just a few days before the damn meeting, not to mention the young guns on fire. Life is so unfair.

So these 3 so called fans are reduced as normal to scrapings from the gutter, SRRed48 has tried 'the board hasn't changed' and 'Conway is still....(whatever)' type stories, but as usual with fantasists the stories don't run. He even refused to join me in condemning abusive Barnsley fans & instead bizarrely backed them. But their envy & nastiness towards the lads running the supporters trust sums these 3 up, some take actions in life & some sit on their backsides doing sod all but criticising.

This nastiness seems to stem in part from the demise & humiliation of the Conway Group. As i have explained previously only a numpty would have fallen for such a load of tripe but these gullible 3 had no such reservations & are still bitter it didn't workout! Of course they could still have the last laugh & wheel out that local new owner waiting in the wings they told us about, maybe soon eh.

Anyway back in the real world for this evenings fan engagement, and its more bad news for the gullible 3 as positive comments were made from the manager & chairman about the future of BFC. The board are investing more into the club to keep us afloat & its going take some time to get out of debt but overall we seem to have some competent decent people on our board. The signing of Duff was the key by the board, his presence is justing starting to seep thru the club & it will be transformative, expect a good season......if you can be bothered to go & watch the reds. So overall I'm quite happy with tonights comments, not enough to clap but things are much better than they were in May.

[animallittle3]

If only, but thats an excellent quote, aimed at someone who is yet again gutted they haven't got much to whinge about & are having to scrape the barrel to spread their daily poison about BFC.

Almost feel sorry for Jules88, animallittle & SRRed48. Norwood & Cole more or less ruined this fans engagement, we are supposed to be heading straight towards league 2 and yet we have a striker signed this summer (as promised) and one of Conways boys banging em in & getting us in a play off spot just a few days before the damn meeting, not to mention the young guns on fire. Life is so unfair.

So these 3 so called fans are reduced as normal to scrapings from the gutter, SRRed48 has tried 'the board hasn't changed' and 'Conway is still....(whatever)' type stories, but as usual with fantasists the stories don't run. He even refused to join me in condemning abusive Barnsley fans & instead bizarrely backed them. But their envy & nastiness towards the lads running the supporters trust sums these 3 up, some take actions in life & some sit on their backsides doing sod all but criticising.

This nastiness seems to stem in part from the demise & humiliation of the Conway Group. As i have explained previously only a numpty would have fallen for such a load of tripe but these gullible 3 had no such reservations & are still bitter it didn't workout! Of course they could still have the last laugh & wheel out that local new owner waiting in the wings they told us about, maybe soon eh.

Anyway back in the real world for this evenings fan engagement, and its more bad news for the gullible 3 as positive comments were made from the manager & chairman about the future of BFC. The board are investing more into the club to keep us afloat & its going take some time to get out of debt but overall we seem to have some competent decent people on our board. The signing of Duff was the key by the board, his presence is justing starting to seep thru the club & it will be transformative, expect a good season......if you can be bothered to go & watch the reds. So overall I'm quite happy with tonights comments, not enough to clap but things are much better than they were in May.

Back in the real world indeed , who created the debt ?

[animallittle3]

Under the present ownership which includes all shareholders minus JAQ and Jean Cryne the club are losing £1m a month .

The only gullible people I see are the ones trusting the very same people who created this catastrophic financial situation , the worst in our history to fix it .

The fact is these people are unfit to be anywhere near this football club or any other for that matter .

The highest financial losses in our history and finished rock bottom of the championship with 6 wins .

Those are the facts .

[SBRed48]

As usual the claims that the new Board have put another £3.2 million into the club neglects to point out it is not a straightforward transfer of cash from their own wealth, it is another share equity purchase to cover losses of £1 million a month at the club.

The Hong Kong Registry shows a sale on23 June 2022 by Barnsley Investment Company (the club) of 4 million shares at 25p each. The allocation was taken up by ALL existing shareholders in proportion to their existing share %. ie Lee bought 31.25% of the shares at a cost of £310,000 and Conway/ Hung 7.5% at a cost of £75,000. Its an odd situation that those who some claim are no longer part of the club are willing to pay such amounts. It is, of course, because they will receive more money as they push up the share price if anyone tries to buy them out.
Presumably the new £3.2 million equity injection to cover £1 million a month losses is on the same basis. The shares bought can be sold. It is not a gift to the club. It is being put in to protect their existing investments by preventing the club falling into administration caused by losing £1 million a month.

I did say Nudge would come out of the meeting saying everything was wonderful. Job done by Parekh and others.

Were any other questions raised ?

[SBRed48]

You were there Nudge.

Was any question asked about who signed off the Hex deal and what due diligence took place ?

Loko, The Supporters Trust leader, said it was an "important" issue which should be raised. (See Post 10 on this thread).

[Young_Nudger]

Under the present ownership which includes all shareholders minus JAQ and Jean Cryne the club are losing £1m a month .

The only gullible people I see are the ones trusting the very same people who created this catastrophic financial situation , the worst in our history to fix it .

The fact is these people are unfit to be anywhere near this football club or any other for that matter .

The highest financial losses in our history and finished rock bottom of the championship with 6 wins .

Those are the facts .

No - the debt was created by one person - Paul Conway - who had total control of the shares.
He ploughed forward and gave out huge contracts that the club is now having to fund.

Out of the £3.2 Million paid - paying off the Marcus Schopp contract came up several times.
A large slice of that money has gone to Schopp.

When JAQ was Tweeted about the Maze - I thought it could be problems in the boardroom with Paul Conway.
It’s not.
Paul Conway is out of the equation - he no longer has any input into the club.
But it’s the mess Paul Conway has left at the club that’s causing problems.

As Neerav said - it’s probably going to take another 2 years to untangle all of that.
But he went on to say something on the lines of - that’s happened and it’s in the past, we need to move things forward.

On top of the £3.2 M the club has paid out - they also put bids in for player/s at £300K.
But the player/s decided to go elsewhere.
Also said - if Michael Duff wants reinforcements in January he will get them.

[animallittle3]

No - the debt was created by one person - Paul Conway - who had total control of the shares.
He ploughed forward and gave out huge contracts that the club is now having to fund.

Out of the £3.2 Million paid - paying off the Marcus Schopp contract came up several times.
A large slice of that money has gone to Schopp.

When JAQ was Tweeted about the Maze - I thought it could be problems in the boardroom with Paul Conway.
It’s not.
Paul Conway is out of the equation - he no longer has any input into the club.
But it’s the mess Paul Conway has left at the club that’s causing problems.

As Neerav said - it’s probably going to take another 2 years to untangle all of that.
But he went on to say something on the lines of - that’s happened and it’s in the past, we need to move things forward.

On top of the £3.2 M the club has paid out - they also put bids in for player/s at £300K.
But the player/s decided to go elsewhere.
Also said - if Michael Duff wants reinforcements in January he will get them.

The other shareholders including James Cryne and Parekh were actively involved at board level during Conway's tenure .

It turns out Conway per se had a minority stake along with Grace Hung who gathered his power by using the other minority shareholding he represented which just so happens to include JAQ's husband and two New York Hedge Fund managers .

Even Jean Cryne doesn't escape criticism given her stake in Oakwell Holdings and the fact son James holds a 20% stake .

Parekh even sold Chien Lee some of his shares as late as last season , around November time when we were bottom of the league and had won two games .

Presumably the club's financial position was known at that point but none the less Parekh increased Chien Lee's stake .

The sycophants amongst our support may well want to believe the moving of the deck chairs at the club gets them off the hook regarding this catastrophic financial situation but the facts speak for themselves .

They most certainly won't be getting let off the hook with me and I'll campaign on another social media platform that's used by certain members of the shareholding to be rid of these blood suckers and leeches and whilst not abusive they most certainly will be told they aren't wanted here and they'd be better placed putting the club up for sale .

This club was in a solid financial position before these blood suckers came along , debt free and £5m cash in the bank .

It's now losing £1m a month and the sycophants believe these people will fix it and we will prosper .

The same kind of logic would suggest that the architects of the 2008 financial crash , The Lehman Brothers and Morgan Stanley's would be worth hiring on to the board of the Bank Of England to fix the economy they helped trash .

In the entire history of this club it's doubtful there was so many extremely stupid and gullible people gathered under one roof last night listening to that bullshyte and then coming on here telling us everything is fine including the Supporters Trust .

[Romared]

The only down side of tonight - and I’m being brutally honest here - for me is that Roma and Animal weren’t there with me to witness the event.
It was ……. FABULOUS!!!

I'm sure you would have been charming company too Nudge , av got film star looks my wife sez !! a wunt want to put the guest speakers out !! carnt laik art like I used to do these day's , av been to plenty of these meeting's ova year's , is Alan (boring) Bloor still attending ? Rest assured I was there in Spirit form though , 2 dramms of Cardhu " news at ten asleep by then " glad tha enjoyed neet , take care , Forza Di Reds ♥

[Young_Nudger]

I'm sure you would have been charming company too Nudge , av got film star looks my wife sez !! a wunt want to put the guest speakers out !! carnt laik art like I used to do these day's , av been to plenty of these meeting's ova year's , is Alan (boring) Bloor still attending ? Rest assured I was there in Spirit form though , 2 dramms of Cardhu " news at ten asleep by then " glad tha enjoyed neet , take care , Forza Di Reds ♥

The BBS had their Chairman (Gally) and Secretary (Loko) at the meeting.
We should have had our Chairman (Roma) and Secretary (Animal) at this event.

Animal - the shares were in control of Paul Conway as an agreement had been reached for him to take control of the club.
When that contract ran out the other directors stepped in and took control.
No blame whatsoever can be laid at the door of the other directors - only in their belief that they initially thought Conway would do a good job.

I was told last night - us supporters weren’t aware of this - but the directors were seeing at first hand the bad deals that Conway was doing - and they couldn’t do anything about it.
The new formation of the board is a new start for the club.