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Thread: Reds Chairman On Various Issues.

  1. #1
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    Reds Chairman On Various Issues.

    05/12/23 Barnsley Chronicle.

    OWNERSHIP COMPOSITION
    “I am at about 55 per cent, the Crynes have about 23 per cent, Julie Anne (Quay) and her husband are about ten per cent and I believe Paul Conway and Chien Lee combined are about 13 per cent.
    It is entirely up to them (former co-chairmen Conway and Lee) if they participate in future fund-raisers if the club needs them. The board doesn’t have them on it and the board controls the club.”

    EFL CHARGES AGAINST PREVIOUS CO-CHAIRMEN AND CLUB
    “It’s still rumbling on in the background. We are in touch with the EFL lawyers. It has gone to arbitration. The current timeline is end of April early May because of the legal process. I don’t expect to hear anything before then. I don’t know what the worst case scenario is. I would hope it’s not too bad because we didn’t get a sporting advantage as a result of the breach of rules and it relates to two individuals involved no longer active at the club.”

    A NEW RENT AGREEMENT WITH THE COUNCIL
    “It’s been difficult. I think everyone still wants the same thing. It’s been a longer process than anyone anticipated. I can’t make any promises because it’s not really in my hands. It’s between two different parties. Watch this space. I hope it’s soon. I had hoped for sooner than now.”

    PLAYER SALES
    "Long term the idea is to sell one or at most two players in a window. We have sold a little bit more than that in the last couple of summers. But the board have put just over £10million since we came in. The sad reality is the club needs cash injections at this point but we want to get to the point where we are financially stable over the next couple of years.

    WILL THE BOARD INJECT MORE OF THEIR OWN MONEY?
    "If we need to, we will. The idea is not to do that consistently because it’s just not sustainable. We have done it in the short-erm but we are hoping it doesn’t amount to too much more.

    ARON LEYA ISEKA
    (The Belgian striker is on loan at Israeli club Hapoel Hadera but has not played since the deadly attacks in that country on October 7 which triggered a war which is still ongoing.)
    “I believe he is back in Belgium but, as per the terms of the contract, he is a Hapoel player until January.
    “He can’t come back in between windows. In January he will be a Barnsley player and we will decide on his future at that point.”

  2. #2
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    Good post Poggy.
    Things are shaping up nicely.
    Although as said in another post - I think we are lacking depth of knowledge and experience in the boardroom.
    In saying that - get the right DoF and CEO and some of those gaps should be filled.

    A few key comments from the supporters meeting - one of the main ones when JAQ said - ‘we don’t want to stay as little old Barnsley’.

  3. #3
    Join Date
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    Quote Originally Posted by POGGYWELL View Post
    05/12/23


    PLAYER SALES
    "Long term the idea is to sell one or at most two players in a window. We have sold a little bit more than that in the last couple of summers. But the board have put just over £10million since we came in. The sad reality is the club needs cash injections at this point but we want to get to the point where we are financially stable over the next couple of years.

    WILL THE BOARD INJECT MORE OF THEIR OWN MONEY?
    "If we need to, we will. The idea is not to do that consistently because it’s just not sustainable. We have done it in the short-erm but we are hoping it doesn’t amount to too much more.”
    A bit of the old Jeremy Hunt smoke and mirrors there.

    All of the £10 million is share equity, not a donation to the club from their pockets never to be seen again.

    £3million of the £10 million share equity is placed into the club accounts ring fenced to purchase the club from the Crynes as they have not yet purchased it yet. The £3million cannot be used for any other purpose

    A significant proportion of the £10 million was raised in share issues when Conway and PMG held about 35% combined of the shares ie Conway and PMG put in about a third of the £10 million to purchase share equity.

    That leaves about £3.7 million put in by Parekh, the then Investor Group and the Crynes, all as share equity, not donations/ gifts.

    The notion that Parekh and Co have put in £10 million is a little misleading. Smoke and Mirrors.
    Last edited by SBRed48; 05-12-2023 at 09:49 PM.

  4. #4
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    Quote Originally Posted by SBRed48 View Post
    A bit of the old Jeremy Hunt smoke and mirrors there.

    All of the £10 million is share equity, not a donation to the club from their pockets never to be seen again.

    £3million of the £10 million share equity is placed into the club accounts ring fenced to purchase the club from the Crynes as they have not yet purchased it yet. The £3million cannot be used for any other purpose

    A significant proportion of the £10 million was raised in share issues when Conway and PMG held about 35% combined of the shares ie Conway and PMG put in about a third of the £10 million to purchase share equity.

    That leaves about £3.7 million put in by Parekh, the then Investor Group and the Crynes, all as share equity, not donations/ gifts.

    The notion that Parekh and Co have put in £10 million is a little misleading. Smoke and Mirrors.
    Edit---"Conway and PMG" should read Lee and PMG (Conway and Hung).

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