........ CUFC 1921, but when?
For obvious reasons there will be nothing happening for more than a year and nothing will happen during the playing season. My best guess is that May 2022 will be the time when we will all have multiple orgasms.
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........ CUFC 1921, but when?
For obvious reasons there will be nothing happening for more than a year and nothing will happen during the playing season. My best guess is that May 2022 will be the time when we will all have multiple orgasms.
You have been loaned money which has been spent on a campaign that saw you struggle. There is a legal document that says the loanees can own your ground if they want to. Why else did they loan you the money.?
Think of it as rope to hang yourselves.
If you think the loanee wont exercise that legal right, you are in cuckoo land. That's why they leant you the money. You cant spend the money, owe it, and expect to keep the ground.
Having said that, you will. You boys are relying on goodwill. Snigger.
Oh the champing of teeth when reality hits. Is the cumbrian consortium the same people who leant you the money? So you trust them to keep their word, like not sell the ground, and do a runner? Cambridges criminal directors promised to sell the ground back to the fans after buying it.
They sold it at huge profit to property developers.
The same will happen to you. This consortium are wearing camouflage. They will have the skills to make its sale sound reasonable, and even reflect back to your fans how naïve you have been, a sort of narcissistic counter blame. Buying your ground for the price of your loan was a stroke of genius.
My sorrow goes to you.
p.s, they probably already have plans for the site. Like Cambridge.
frank, which part of “it’s on a flood plain which has flooded twice in the last few years” don’t you understand?
The ground has no value as a football facility. For sale purposes it is merely a piece of land which is vulnerable to flooding. Of course there is lots of land in Carlisle that is of the same disposition, so anyone wanting land in / near the city has lots of buying choice at this 'quality'. There will never be planning permission given to construct houses or business premises. A new owner would have to bear the costs of dismantling the football stadium, though the adjacent Neil Centre would still be viable. Outside the city there is of course plenty of better land mostly used for farming, so worth a lot more money.
Even at the the beginning (£450,000) of the EWM 'facility' I doubt that this being fundamentally a 'land / all assets grab' would have made much sense for EWM but now that the 'facility' is (even after significant outgoing transfer activity) probably still in excess of £2.5 million it would be incredibly silly.
Brunton Park and 2 houses on the same flood plain are almost all the club's tangible assets. However, I must know fuck all because according to the parchment of the latest accounts CUFC 1921 has tangible assets of £8.3 million.
Aye, Frank, that.
Who owns the ground now? The club or an individual? Maybe some of the consortium have their hearts in the right place, some wont, there will be a battle. If it isn't viable maybe you will be ok. Ownership will not be yours though. If they can still make a profit despite its location, you are in trouble, property prices always goes up. Owning a football club is a serious lossmaker.
Pumping in millions so you can buy a new reg lamb is a hopeless task. I think you are in trouble. Business men are not daft. Trust is.
In the Carlisle United context Consortium refers to a group consisting of the owners of some of Cumbria's best businesses. There was a credible consortium which tried to buy the club in a process lasting from late autumn 2014 to late spring 2015. We do not know who would be in a new consortium but we envisage that eventually it will happen by virtue of EWM walking away after cancelling the 'facility'. No consortium with a brain cell will take on the responsibility for debts incurred under the current ownership (i.e. the 4 buffoons who between them own 93% of Carlisle United 1921).
Neither the EWM owner nor EWM is likely to be part of a consortium. Phillip Day owns EWM. He is not interested in football. He is a billionaire who lives in Dubai. He visits his mansion near Carlisle once a year to see the Hawick Sevens rugby union tournament which is sponsored by EWM. 15 years ago a very successful local builder, Fred Story, owned the club and during what turned out to be the latter stages of his reign he brought a mate of his, Phillip Day, onto the Carlisle United 1921 board. Day stayed beyond the Story era but for less than 2 years. His attendances at board meetings became rarer and he became pissed off with being pestered for money by the current 'concert party' of 3 who own almost 75% of Carlisle United 1921 through Carlisle United Holdings, which is merely a bucket containing 93% of the Carlisle United 1921 shares.
Brunton Park is owned by Carlisle United 1921, which is the football club. But all the assets of the football club can be taken from it by means of the terms of the EWM Charge. It is quite possible that EWM have pocketed all the money from the 3 significant transfers that occurred this season and are 'drip feeding' amounts that they deem appropriate to Carlisle United 1921. This would be a totally legitimate course of action because Carlisle United 1921 is almost certainly in hoc to EWM for at least £2.5 million. Of course the headline figure of a transfer fee is extremely unlikely to be paid in full up front. It is more likely to be paid by beginning with maybe 10%-15% up front with the remainder being paid gradually over a 3 year period.
So why is Day involved at all? You don't say how Day will get his 2.5 mill back, he wont write it off. There is nothing there that makes me worry less. Day is not interested in football, his involvement has another edge to it.
A loss making business will go under. And the vulture will be waiting. I hope im wrong, but im sure he wont care if his name is mud. Businessmen don't worry about things like that. Ask Gary Harwood, an ex united director who engineered our sale. A famous American gangster was asked why he robs banks, his reply was that is where the money is. Maybe Day will do the decent thing and write it off.
Maybe not.