Some of you may have seen the indignation from various members of the Jenkins family over the weekend now I can see that they'd want to stick up for their father/uncle and that's fair enough but don't you think he brings it on himself by been seen as a complete dinosaur on any number of issues but what I can't understand is why is he putting himself thru it ?
It's pretty clear from what's been said at various points that there was a plan for succession before AJ finally leaves this world that the Trust had been persuaded to go along with.
But its also clear the Covid and what it did to EWM was bound to change things my guess is the Trust discovered that under plan B they would be required to give up for than they were expecting to.
I.m led to believe plan A which would have kicked in on AJ.s death would have involved PD acquiring all but the Trusts shares in return for him becoming the guarantor to his own company EWM and making his own arrangements of how when and if the loan was to be repaid with the trust keeping their shareholding at the present level and in effect retaining their veto but with a couple of ways that PD could negate that if he needed to in order to effect a sale of his shareholding and therefore that of the club. The bloke isn't stupid and if I can see a way around it i.m sure he can too his ultimate aim would be to stabilise the club get it moving forward and then find suitable new owners.
Basically, the plan is still the same but as he no longer [ supposedly ] owns the company that hold the debt note a few things have had to change and from what i.m told the difference is the Trust will formally have to reduce their shareholding and give up their veto something they don't want to do and the reason they're being all secretive and won't say anything is because they don't want to be seen as the party that holding up the deal.
All this is the reason why no decisions are being taken over the ground as they are reluctant to commit to anything that might affect any potential new owner [ in that they went for one solution when the new owner would have preferred the other ] My opinion is when he takes control Day will build a new flood resilient main stand at BP which would go a long way to making the club more attractive to potential buyers and to solving the present issues over the ground.
I don't get all these claims about the costs of maintaining the current facilities [the main stand excepted ] the problem is rather than spend 50k on the Warwick and it is sorted for the next 10 years they replace a few sheets of cladding and then guess what a year later it leaks somewhere else. A new stand could probably be done for not much more than 6 million by being imaginative and not having delusions of grandeur [ Plymouth did there's for five million and admitted they could actually have done it for less if they'd bitten the bullet and rebuilt rather than the refurb that they went for ] and if you could combine that with some sort of enabling project financing it becomes even easier but on the back of a fag packet a 6 million mortgage over 25 years at current interest rates could be done for 25k a month and any new owner who couldn't afford to cover that shouldn't be buying a football club Maybe time to resurrect the Cumbrian sporting foundation plans methinks.
PD will maybe turn out not to be the villain that he currently looks like if he can pull it off and find us a decent new long term owner he might turn out to be worshipped as some do Fred Story but lets hope he doesn't make the same mistake that the Lanky tw*at did on selling.
A decade ago I offered Andrew Jenkins a fiver for the two tranches of shares that he owned [ giving him a 150% profit on the deal ] he politely declined so I thought i.d just let it be known the offers still there Andrew if the abuse gets a bit much for an old man.