1996 The Stowmarket Two, Burnley and all that

[essex canary 492]

One thing I recall about 1996 were that there was a general belief that no one should hold a controlling percentage of the football club. I also recall Delia saying at some point that it was an alternative to buying a mediterranean villa.

I guess it has been a labour of love for our majority owners and all in all their performance has been pretty good taking one year with another. I certainly wouldn't want to hand over our club to dirty foreign money.

Then again does the villa need a fresh lick of paint? We could operate with 8 Board members, we have only 5 of whom only 3 own any shares on a permanent basis.

Burnley's main shareholder owns 49% of the Club whilst their are 5 relatively new blood Board members who own 3% each. That sounds like our vision of 1996 to me together with a fresh lick of paint for the villa. 

[Faded Jaded Semi Plastic SOB 1,020]

😮.........

[PurpleCanary 5,554]

37 minutes ago, essex canary said:

One thing I recall about 1996 were that there was a general belief that no one should hold a controlling percentage of the football club. I also recall Delia saying at some point that it was an alternative to buying a mediterranean villa.

I guess it has been a labour of love for our majority owners and all in all their performance has been pretty good taking one year with another. I certainly wouldn't want to hand over our club to dirty foreign money.

Then again does the villa need a fresh lick of paint? We could operate with 8 Board members, we have only 5 of whom only 3 own any shares on a permanent basis.

Burnley's main shareholder owns 49% of the Club whilst their are 5 relatively new blood Board members who own 3% each. That sounds like our vision of 1996 to me together with a fresh lick of paint for the villa. 

I cannot be bothered to go though all the way through but the reality is that virtually every club in the top two divisions and  probably further down is either owned by one person or company, often with a 100 per cent stake, or by a close-knit controlling duumvirate or triumvirate. From memory although Garlick at Burnley doesn't own a majority stake there is another businessman with something like 27 per cent of the shares, so if he and Garlick are on the same page in terms of running the club then in effect the situation is no different to that at Carrow Road.

Edited April 25, 2020 by PurpleCanary

[essex canary 492]

Purple you are correct but there is 18% more shareholding in play on the board with 5 other members. Last time they had back to back seasons in the Championship and Premier League their turnover for the 2 seasons was the same as our pre-crisis projections yet their wage bill was £20 million less and they have remained in the Premier League. Their performance is exceptional but that is what it will take for a club of our size to retain Premier League status for any length of time unless the crisis shakes down in our favour.

[nutty nigel 7,510]

Essex, the only reason our owners have those shares is because they weren't taken up by others. 

And about this villa....

Perhaps she ended up with both....

[essex canary 492]

If it needs a new lick of paint they could try to sell a few NCFC shares now to finance it. As I recall it the Turners made them an offer of some participation 10 years ago.

[nutty nigel 7,510]

What offer Essex?

[wcorkcanary 4,329]

40 minutes ago, nutty nigel said:

Essex, the only reason our owners have those shares is because they weren't taken up by others. 

And about this villa....

Perhaps she ended up with both....

Go girl!!