Crewe Alex launch legal action against majority shareholder Norman Hassall

[thnhouse]

Could we be in a worse shape? I didn't actually say the other Directors were 'bleeding' money out of the club. I suppose when NH saw millions doing nothing in the accounts, he thought, hang about! It's a complete dereliction of shareholders duty not to have supported the FIRST team and put all the money on a kids playground adventure...that may have with a bit of luck, roll of the dice scenario that it would pay off....

I wonder how much money the Directors have loaned the club and how they think they are going to get it back in a period of transfer stagnation?

We didn't need to see the Blackpool scenario to tell other businessmen what is right and what was clearly wrong. What if NH refuses to pay anything back?

Blackpool set a precedent for legal action, it’s not about right or wrong. Before then if the majority shareholder was self interested and asset stripping the club he could do as he’s the one who makes those choices. Now our board has seen a route in which to fight back a bit.

Yes we could be in worse shape. With a chairman taking money and no academy to back up the first team we could easily go down the same route as Stockport, Tranmere , Halifax, Wrexham, Chester, York etc

Mike you seem to be under the belief that if this money hadn’t gone to the academy then NH would have let it be spent on the first team? Isn’t it a bit more likely that he saw a cash cow that was producing saleable assets so kept that funded while taking money from elsewhere?

[MikeSB]

Blackpool set a precedent for legal action, it’s not about right or wrong. Before then if the majority shareholder was self interested and asset stripping the club he could do as he’s the one who makes those choices. Now our board has seen a route in which to fight back a bit.

Yes we could be in worse shape. With a chairman taking money and no academy to back up the first team we could easily go down the same route as Stockport, Tranmere , Halifax, Wrexham, Chester, York etc

Mike you seem to be under the belief that if this money hadn’t gone to the academy then NH would have let it be spent on the first team? Isn’t it a bit more likely that he saw a cash cow that was producing saleable assets so kept that funded while taking money from elsewhere?

thn, I really don't want to fall out with other fans here or anywhere else as its water under the bridge now and think we are all on the same side that we want our team to avoid relegation and then do better next season. The Board have many issues to sort out and hope they can too. I would just say one thing about the money we had from transfer fees over the years and that is none of us would have complained had the Board INCLUDING NH had a policy of 25% of all transfer fees 'ring fenced' for the first team and that would arguably have given us at least 6 million pounds and NH could not have touched that, and could have given us continuity with 75% going to the academy although I would have preferred a 5/50 split but let's be generous to their ethos and that would have given us a great mix of experience without having to rely almost entirely on the youngsters coming through and thing to me at least is it's not right expecting young lads to compete physically at this level week in and week out and then get depressed as we do by getting beat etc...so there maybe some madness in my method but I think it could have worked out just fine and gave a boost to those who see the academy more in the light of generating money as well as potential players for the whole essence of any league club which has to be the first team. Not doing that has proved the Board's Achilles heel in more ways than one...I think DG has some responsibility there.

Having millions sitting in the club accounts was like letting loose Dracula in a blood bank!

[out0lunch]

What is disappointing is the number of views on this topic ie 955 but only the usual few who respond to theses posts'
I know some will be repeat views like myself and some will be reporters trying to twist the stuff written but surely there must be some who look but don't contribute. I think there were over 500 reviews before anyone replied.

Come on have your say and not just on this topic !!!

[thnhouse]

thn, I really don't want to fall out with other fans here or anywhere else as its water under the bridge now and think we are all on the same side that we want our team to avoid relegation and then do better next season. The Board have many issues to sort out and hope they can too. I would just say one thing about the money we had from transfer fees over the years and that is none of us would have complained had the Board INCLUDING NH had a policy of 25% of all transfer fees 'ring fenced' for the first team and that would arguably have given us at least 6 million pounds and NH could not have touched that, and could have given us continuity with 75% going to the academy although I would have preferred a 5/50 split but let's be generous to their ethos and that would have given us a great mix of experience without having to rely almost entirely on the youngsters coming through and thing to me at least is it's not right expecting young lads to compete physically at this level week in and week out and then get depressed as we do by getting beat etc...so there maybe some madness in my method but I think it could have worked out just fine and gave a boost to those who see the academy more in the light of generating money as well as potential players for the whole essence of any league club which has to be the first team. Not doing that has proved the Board's Achilles heel in more ways than one...I think DG has some responsibility there.

Having millions sitting in the club accounts was like letting loose Dracula in a blood bank!

We're not falling out! Just a bit of a debate.

Its not the blood donors fault though is it, or the hospital, it's still Dracula. It's not our boards fault for leaving enough money in there to tempt someone (if thats what happened and thats a big if) is it? It's the guy who took the money.