Dave Cormack back on board

[sheepcrooky]

Headline in PeeeeeandJay today about Dave Cormack coming back into the fray at AFC. Said to have invested a seven figure sum and is now on the board in a non-executive role.

He recently sold his IT business in the US for £527m and is looking for other ways to invest his time and money.

This sounds like a good thing for our club, both financially and potential new ideas and thought processes.

Welcome aboard(again) Dave.

[deedon]

If he ploughed say £500 million back into the club, he'd still have £27 million of the £527 million he made from the sale of his company to keep to himself. Yessssss, he could be a great acquisition. :)

[TheRedRichard]

If he ploughed say £500 million back into the club, he'd still have £27 million of the £527 million he made from the sale of his company to keep to himself. Yessssss, he could be a great acquisition. :)

I'd settle for the £27M tbf :)

[KIWIRED]

Good move looking foward to his input and support

Free feel to invest 50 million into the club........anytime soon:D

[DandiesLegend]

Must admit I like the statements of inward American investment aswell.

Solid move and backed up with the cash in the bank unlike some of the more recent persons into scottish football like Melville and Whyte

[deedon]

I'd settle for the £27M tbf :)

Good point... :)

[TheRedRichard]

Capitalism has owned football for some time now. This is the way we have to go (sadly) if we want to progress.

[8outoftencaat]

Got to love the EE saying that he is back with a multi million pound investment then describing it as a 7 figure sum....so let's say a million. Most likely only buying up some of Stewarty's shares, so nae exactly hard cash going into the clubs coffers.

The positive is someone new to the board and a dilution of Milne's power/shares to hopefully stop him doing further damage to the club.

[Pacman1903]

9,999,999 is a 7 figure sum

[8outoftencaat]

9,999,999 is a 7 figure sum

So is £1Million....how much do you think a part of Stewarty's shares is worth like?! As far as I know Cormack is not now the majority shareholder. Either way, it disna seems as if this is money going directly into the club....it's Cormack's investment to get onto the board and the cash probably gan to Milne or his company

[thebeachend]

This is great news. Out with the jungles we are in great shape for the next chapter. Maybe Stewartie boy has played a blinder here.

[Pacman1903]

So is £1Million....how much do you think a part of Stewarty's shares is worth like?! As far as I know Cormack is not now the majority shareholder. Either way, it disna seems as if this is money going directly into the club....it's Cormack's investment to get onto the board and the cash probably gan to Milne or his company

I was being sarcastic.

[87kilos]

Didn't take long to roll out the negativity.

[Jupiter]

Has he bought some new shares and put money into the club, or has he bought some of Stewarty's shares?

[awafaehame]

Has he bought some new shares and put money into the club, or has he bought some of Stewarty's shares?

Either way to me, this is a win win.
He has either given money to the club to spend, or he has watered down Milne's say in things.

Got to be a good thing either way isn't it?

[RED_JOHN]

I assume Dave Cormack has come on board to secure investment for our future stadium and training facilities. He may be able to persuade people to invest in this or he himself will guarantee the extra cash needed to fulfill the financial demands of the project.

[rico94]

Just heard his interview on the radio,he sounds as delusional and out of touch as the rest of the Aberdeen board.

Basically he said he wants us to be like Atlanta United in America,they get 55000 fans at their home games from all over North America including Mexicans.

I'm not sure how he is gonna convince Mexicans to travel over here to support the Dons.

[Aldo1983]

Just heard his interview on the radio,he sounds as delusional and out of touch as the rest of the Aberdeen board.

Basically he said he wants us to be like Atlanta United in America,they get 55000 fans at their home games from all over North America including Mexicans.

I'm not sure how he is gonna convince Mexicans to travel over here to support the Dons.

That's where Trump the dandy comes in. Builds a wall so they can't go to Atlanta and so they have to come to us.

[rico94]

That's where Trump the dandy comes in. Builds a wall so they can't go to Atlanta and so they have to come to us.

XD

[kb_don]

Has he bought some new shares and put money into the club, or has he bought some of Stewarty's shares?

It won't be new shares - they would have needed to inform existing share holders in advance and got their permission.

He'll have bought them off someone. Last thing I remember was AAM being the largest shareholder, so might be them

[NewOrleansRed]

Just heard his interview on the radio,he sounds as delusional and out of touch as the rest of the Aberdeen board.

Basically he said he wants us to be like Atlanta United in America,they get 55000 fans at their home games from all over North America including Mexicans.

I'm not sure how he is gonna convince Mexicans to travel over here to support the Dons.

The secret Easy Jet flights from Aberdeen to Mexico City start next week. The Pittidrie Taco 🌮 will be unveiled as our catering teams new signing.

Heard it here first.

[Pacman1903]

That's where Trump the dandy comes in. Builds a wall so they can't go to Atlanta and so they have to come to us.

Brilliant

[NewOrleansRed]

just heard his interview on the radio,he sounds as delusional and out of touch as the rest of the aberdeen board.

Basically he said he wants us to be like atlanta united in america,they get 55000 fans at their home games from all over north america including mexicans.

I'm not sure how he is gonna convince mexicans to travel over here to support the dons.


asc#1

[ragnarok]

Pretty excited that someone with this kind of financial clout has invested. Not expecting us to try to sign Messi but hopefully it means there will be additional investment over the next few years even if it's only for the purposes of the stadium and training facilities.

[GGMDONS]

he also said yesterday that DM had assured him that he was happy here & indicated he wouldnt be going anywhere; We will have to wait & see

[afc1903mad]

he also said yesterday that DM had assured him that he was happy here & indicated he wouldnt be going anywhere; We will have to wait & see

I had heard a rumour that DM was willing to sign another extension.
Maybe having DC on board with his investment helps push out a better offer.
I'm not bothered by the Sunderland approach, in some ways they are miles ahead, but on others its a huge risk given the financial situation, managerial continuity and expectation.

Its a tough choice, but our willingness to let him talk bodes well for attracting future hungry, driven managers.
DM's stock has to be at his highest level and potentially likely to dip going forward.
Is Sunderland then the best opportunity DM would get?

I think that the stadium and training is a huge question mark for DM and delaying till October for a decision will not help.
I wonder what influence DC can give on that front

[TheRedRichard]

I had heard a rumour that DM was willing to sign another extension.
Maybe having DC on board with his investment helps push out a better offer.
I'm not bothered by the Sunderland approach, in some ways they are miles ahead, but on others its a huge risk given the financial situation, managerial continuity and expectation.

Its a tough choice, but our willingness to let him talk bodes well for attracting future hungry, driven managers.
DM's stock has to be at his highest level and potentially likely to dip going forward.
Is Sunderland then the best opportunity DM would get?

I think that the stadium and training is a huge question mark for DM and delaying till October for a decision will not help.
I wonder what influence DC can give on that front

I also think it's positive that DC and DM spoke a couple of weeks ago. DM will know that with players leaving, the likely money from Hayes sale and DC investment that he will actually perhaps for the first time since being here be in a strong poisition to recruit well this summer. Somebody also made the good point that if he were to gamble with SAFC he would lack the knowledge of player to go after as he'd not be used to targetting players of, effectively, English Premier League level.

[ragnarok]

$1million shares taken up by US investor through Dave Cormack/Bobby Clark link:

https://www.afc.co.uk/2017/11/20/aberdeen-football-club-announces-first-ever-investment-united-states/

Aye, but fit does he actually dae?

[Pacman1903]

I wish I had a spare million dollars that I could chuck at something “I didn’t know much about"

[Mr_Grieves]

Interview with Tom Crotty here:

https://www.youtube.com/watch?v=QbW_AkMQH-k&feature=youtu.be

The one thing the yanks do well is to deliver a good "customer service" so getting investment and advice from the US can only be good for us.

[phuxachemin]

Aye, but fit does he actually dae?

Looks like he works for Ineos who are in the news today with Tom Crotty being quoted.

Interestingly they purchased FC Lausanne of Switzerland last week.

http://www.bbc.co.uk/news/business-42060090

[kkong]

Wrong Tom Crotty, he is not the Ineos one.

This is the one, partner with Battery Ventures who really owned most of "Cormack's" former company.

https://www.battery.com/our-team/member/tom-crotty/

[Pacman1903]

Wrong Tom Crotty, he is not the Ineos one.

This is the one, partner with Battery Ventures who really owned most of "Cormack's" former company.

https://www.battery.com/our-team/member/tom-crotty/

Ach well there goes a picturesque pre season friendly on the banks of Lake Geneva

[medw1311]

Going by the article on the club site about the release of the annual accounts it seems that Cormack's investment was £2.5 Million.

Turnover has increased from £13.414 million to £15.281 million, with operating profits of £533,000.

[kkong]

Pittodrie valuation reduced from £18m to £15.25m.