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Thread: Statement from the club

  1. #1
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    Statement from the club

    We are delighted to announce that a settlement between Barnsley Football Club Ltd, BFC Investment Company Ltd and Oakwell Holdings Ltd has been reached, regarding the ongoing court case.

    This litigation originated from a dispute concerning outstanding sums due for the purchase of the Club, and the terms of a call option regarding the purchase of Oakwell, which was incorporated in the original agreement at the time of change of control at the Club in December 2017.

    The Cryne family (Oakwell Holdings Ltd), will be paid the full amount due but have agreed to a long-term payment plan with payments only beginning from August 2023 onwards.

    All parties are delighted that all matters related to the court case are now resolved. The Club and the board look forward to working together with the Cryne family as trusted partners, for the betterment of the town and Club.

  2. #2
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    Needs more detail in my opinion what about the £750k already paid out of the clubs accounts.

  3. #3
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    Quote Originally Posted by POGGYWELL View Post
    Needs more detail in my opinion what about the £750k already paid out of the clubs accounts.
    It needs A LOT more detail because I for one donít know what it means.

    I hope this is what it means ÖÖ.

    The Crynes and Barnsley MBC own the ground 50/50.

    So then - the Crynes/BMBC get monthly payments of the money owed to them for the use of the ground by the directors.

    The Crynes can then develop the ground in agreement with BMBC and the board of directors - with the directors agreeing to pay extra for the improved facility.

  4. #4
    Quote Originally Posted by Young_Nudger View Post
    It needs A LOT more detail because I for one don’t know what it means.

    I hope this is what it means …….

    The Crynes and Barnsley MBC own the ground 50/50.

    So then - the Crynes/BMBC get monthly payments of the money owed to them for the use of the ground by the directors.

    The Crynes can then develop the ground in agreement with BMBC and the board of directors - with the directors agreeing to pay extra for the improved facility.
    I think fans might be looking for something that is not there , what it means to me is that the two parties have settled their differences out of court & are back as one so to speak, thus cutting out the need to sort things out in a court of law which in itself brings substantial costs .

  5. #5
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    Quote Originally Posted by Shadrack the Red View Post
    I think fans might be looking for something that is not there , what it means to me is that the two parties have settled their differences out of court & are back as one so to speak, thus cutting out the need to sort things out in a court of law which in itself brings substantial costs .
    They were definitely as Ďoneí at the Supporters Trust meeting.
    What I heard (from directors) during that meeting - this wasnít the case while Paul Conway was at the helm.

    Clearly another indication of the change that has taken place in the boardroom compared to this time last season.

  6. #6
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    The statement says there is a call option on the right to buy oakwell. Thatís the first I have ever heard about the bmbc/cryne consortium being willing to sell. I read this as though Conway et al withheld payment for the club because there was something in the terms of the call option they latterly disputed or didnít like. It doesnít tell us what the issue is. All thatís been agreed is that the Lee Conway mob pay what they owe the crynes but in instalments starting in August 2023.
    Im glad that they have agreed this deal but Iím interested in what happens with the stadium.

  7. #7
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    Quote Originally Posted by Young_Nudger View Post
    They were definitely as Ďoneí at the Supporters Trust meeting.
    What I heard (from directors) during that meeting - this wasnít the case while Paul Conway was at the helm.

    Clearly another indication of the change that has taken place in the boardroom compared to this time last season.
    Itís about purchasing the Club. Oakwell remains in the hands of BMBC and the Cryne Family.

  8. #8
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    The Crynes some time ago agreed to reduce the purchase price of the club from around £6 million to £3.5 million. Very cheap for a then debt free club.

    The Consortium agreed to pay the Crynes the £3.5 million in instalments. The Consortium, led by Conway, got the Consortium to agree to pay the first instalment of £750,000 out of the club's money, not from their own pockets.

    The Consortium then stalled on making any further payment to the Crynes and the Crynes felt they had to take the Consortium to Court to get the remaining payment instalments totalling £2.75 million.

    To smooth the club's cash crisis the Crynes have now agreed to stop the Court action and have agreed to receive the further due instalments over a longer period starting in 2023.

    It has no implication over the ownership of the stadium which is still jointly owned by the Crynes and the Council 50% each

    The key thing for me is will the payments come out of the Consortium's own pockets or will they come from the football club's accounts as with the first instalment ?
    Last edited by SBRed48; 03-10-2022 at 05:01 PM.

  9. #9
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    Hence clarification still required. Whether we get that information is another matter.
    My new armchair is still very comfortable I must say.

  10. #10
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    So basically these so called wealthy c@ckroaches by the time the Crynes receive their full purchase price for the club it will have taken probably over 10 years for them to pay up .

    Such a debt outstanding would have resulted in a few broken noses and a cracked rib around these parts at one time .

    It wouldn't be out of place in this instance .

    Bunch of two bob thieves .

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