Crewe Alex launch legal action against majority shareholder Norman Hassall

[out0lunch]

Interesting re NH


https://www.crewechronicle.co.uk/spo...ction-14346294

[whosbrianwilson]

What a complete and utter t**t that man is.

[MikeSB]

I wonder why this couldn't have been mentioned last night at the Fans Forum?

I also wonder how Hassall managed to help himself to millions from club funds without the approval of the rest of the Board and if they disapproved as they are now,why didn't they kick up a fuss before now?

Maybe its because the money has run out and now the Directors are having to put in 'large' sums of money it's come to a head and possibly it will see the end of the Cat2 academy as being the main casualty and even the continuing lease of Reaseheath must be doubtful unless they can come to some financial agreement with some local business and others when all this has been settled.

The legal fees for this court case won't be cheap as the unknown potential compensation pay out's will also be a factor.

At least the Board are acting now and that is a good thing. Unless it all goes pear shape of course!

[thnhouse]

Maybe its because the money has run out and now the Directors are having to put in 'large' sums of money it's come to a head and possibly it will see the end of the Cat2 academy as being the main casualty and even the continuing lease of Reaseheath must be doubtful unless they can come to some financial agreement with some local business and others when all this has been settled.

Not everything's about the academy

[thnhouse]

Can someone who understands this stuff please let us know why this would have happened and what it means?

[itwasin]

Can someone who understands this stuff please let us know why this would have happened and what it means?

Look at the Blackpool case against the Oystons found guilty in the High Court for using club funds to further there own Businesses to the detriment of the club and other Directors,they have to pay back 36 Million to an X Director who brought action against them!! just needs other Directors to do it.

[MikeSB]

Not everything's about the academy

Well, it was the Directors themselves that said the academy was more important than the first team. Its obvious the academy is bleeding huge sums of money and its pretty obvious that if the current Directors are having to put in 'large' sums of money in order to keep that going at £760K per year which has never been sustainable with a club our size and Gradi and Bowler or other members of the Board should not have allowed that to happen when almost every other club in L1 and L2 doesn't have that level.

The plain fact is the money has run out and so has the transfer income and the Hassall affair is just a sideshow to that situation as it would have happened anyway.

The academy gave us some comparative success. It's also given us some comparative failings as well. ie going from 8th in the Championship with 4m from the Ashton transfer to looking at non league and 25 million quid mostly going back into the academy and loans to Hassall. There is only one group of people responsible for that and its the Board of Directors. They knew about the Blackpool situation and did NOTHING until now.

They are only crying about it now and doing something because NOW they are having to put in money of their own and its something I have said on many occasions on here. They all sat on their hands and let it happen and we can have no sympathy for them when they ought to have acted sooner, much sooner...

[thnhouse]

Well, it was the Directors themselves that said the academy was more important than the first team. Its obvious the academy is bleeding huge sums of money and its pretty obvious that if the current Directors are having to put in 'large' sums of money in order to keep that going at £760K per year which has never been sustainable with a club our size and Gradi and Bowler or other members of the Board should not have allowed that to happen when almost every other club in L1 and L2 doesn't have that level.

The plain fact is the money has run out and so has the transfer income and the Hassall affair is just a sideshow to that situation as it would have happened anyway.

The academy gave us some comparative success. It's also given us some comparative failings as well. ie going from 8th in the Championship with 4m from the Ashton transfer to looking at non league and 25 million quid mostly going back into the academy and loans to Hassall. There is only one group of people responsible for that and its the Board of Directors. They knew about the Blackpool situation and did NOTHING until now.

They are only crying about it now and doing something because NOW they are having to put in money of their own and its something I have said on many occasions on here. They all sat on their hands and let it happen and we can have no sympathy for them when they ought to have acted sooner, much sooner...

Mike, my point was this is about the directors and the current finances , not another chance for you to bleat on about the academy again.

The whole point of this is that it’s not the academy bleeding money from the club it’s a director.

You’re complaining about the paint job on a car while the engines on fire. Saying that I suspect if that happened to you the first thing you would do is complain that fires used to get put out with buckets of sand in the 20’s so there’s no point using a hose today.

[somersetcrewe]

Well, it was the Directors themselves that said the academy was more important than the first team....

Is that what they actually said? - if so, when and who? I'm curious.
Or is this just an interpretation of what has been going on? (which of course is completely different)

[itwasin]

I can not see the Academy continuing really what kid would want to join when you have Newspapers and TV calling it" THE HOUSE OF HORRORS " maybe join up with Blackpool on there " GHOST TRAIN"