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Thread: Carlisle Glass / EWM / The Three

  1. #1
    Join Date
    Dec 2011
    Posts
    257

    Carlisle Glass / EWM / The Three

    How is Carlisle Glass doing? We need it to be strong in order that SP can get enough money to pay his Personal Guarantee to EWM on the 'facility'. Presumably EWM are getting regular payments from The Three in respect of their Personal Guarantees.

    I go against the majority of supporters in that I believe that The Three are not tightly holding onto their Holdings shares. I believe that The Three are desperate to totally escape from the club. But EWM have got them strapped in. The Three take all the blame for the club's plight whilst EWM can put pressure on them by regularly demanding money from them to satisfy the terms of their Personal Guarantees.

    It is indeed a sad sod who cannot laugh at that.

  2. #2
    Join Date
    Dec 2009
    Posts
    2,422
    Can you not see where this is going? The three will renege, EWM will take over, then you will get your shock. Its not a laughing matter. If you think EWM are going to play fair...…

    They want your ground. For themselves. It will cease to be a football ground. You will be homeless.

  3. #3
    Join Date
    Dec 2011
    Posts
    257
    EWM are not in the business of actually owning land and premises. Most of the group's stores are rented. But even if they were keen on owning land and premises, how keen would they be to own land which will never get planning permission for houses or business premises because it is on a flood plain which has actually been substantially flooded twice in ten years? Brunton Park is a CUFC 1921 asset. EWM have a Charge on all the assets such that if they want their money back and they do not get it, then all the assets become owned by them.

    It is quite possible that EWM have frozen the 'loan facility' in order that all their financial resources are used in their business for a while. If a company which makes lay-offs is seen to be continuously 'loaning' money to a football club that would yield a somewhat critical response in the various media. I believe that when (yes, when) the club's existence is threatened by other parties EWM will prop it up.

    It is a matter of time before EWM decide that they have had enough and use their power to bring about a genuine new ownership by a local business consortium. Ideally, EWM should get rid of The Three by arranging to relieve them of all the shares and have an interim EWM ownership before affably agreeing to let a local business consortium take over, with the 'loan facility' annulled. I believe that this will be the eventual result of all the upcoming machinations, but it could be a while before it occurs.

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