Bill 1,788 Posted April 7, 2021 https://www.itfc.co.uk/news/2021/april/statement-from-marcus-evans/ Share this post Link to post Share on other sites
......and Smith must score. 1,331 Posted April 7, 2021 The new lot sound a bit murky but they were going nowhere under the previous owner who was even murkier. Don't think we need to look over our shoulder just yet. Share this post Link to post Share on other sites
Coneys Knee 940 Posted April 7, 2021 Well, we’ll , well, I look forward to them waving their fivers aloft Share this post Link to post Share on other sites
Bill 1,788 Posted April 7, 2021 'As part of the transaction, a portion of that historic debt has in effect been written off, leaving the Club with a much smaller debt burden and with nearly all Club debt owed to the new owners. but by the nature of a pension fund will be fiscally responsible in the use of those funds. In order to meet its investment responsibilities' the devil is in the detail, as in 2007 Share this post Link to post Share on other sites
Trevor Hockey's Beard 526 Posted April 7, 2021 2 minutes ago, Coneys Knee said: Well, we’ll , well, I look forward to them waving their fivers aloft It'll be dollar bills, surely. Interesting that having a long-term business plan was a requirement, seeing as none was evident during ME's tenure. Is there any other club largely owned by a Pension Fund? Not sure whether it's a good idea or not, given the requirement to make a return on investment. How many clubs in the top three tiers make a profit which is then taken out of the club by the owners? Share this post Link to post Share on other sites
Mello Yello 2,273 Posted April 7, 2021 Anyone put an offer in for the tree in the stand guttering?..... 1 Share this post Link to post Share on other sites
Coneys Knee 940 Posted April 7, 2021 Surely being owned by a pension fund just means any profits made will be sapped out of the club in favour of the fund? 2 Share this post Link to post Share on other sites
......and Smith must score. 1,331 Posted April 7, 2021 1 minute ago, Mello Yello said: Anyone put an offer in for the tree in the stand guttering?..... That's been there so long it must be protected by a TPO so it'll have to stay. 3 Share this post Link to post Share on other sites
Bill 1,788 Posted April 7, 2021 a trio of Irish investors, I believe ....................................tree fellers, in fact 😋 Share this post Link to post Share on other sites
FenwayFrank 2,447 Posted April 7, 2021 A club being owned by a pension fund isn’t completely uncommon in the US apparently Share this post Link to post Share on other sites
chicken 2,604 Posted April 7, 2021 That doesn't look at all dodgy. Being run by three chaps who own 5% of a firm that is invested in the firm that... How on earth did this pass the EFL checks? I thought after the Southampton debacle they were going to prevent these sorts of companies from owning clubs? Am I right in saying that "Gamechanger" is essentially a new business set up with the sole purpose of running the club as a tier of protection for the pension investment company? In other words, if it goes **** up, Gamechanger gets saddled with the debt, goes bust and everyone is happy apart from the local business owners etc - "again". And the chaps having the say so own 5%. Hah! Nothing wobbly about any of that? Anyone know who Evans' pension is with? Share this post Link to post Share on other sites
Thirsty Lizard 3,154 Posted April 7, 2021 Seems kind of apt that the pension fund is that of a U.S states police and fire service. Should be plenty of experts on hand if/when an emergency rescue is needed. 1 Share this post Link to post Share on other sites
Felixfan 53 Posted April 7, 2021 Will this reignite a debate about our own funding model? 1 Share this post Link to post Share on other sites
daly 499 Posted April 7, 2021 4 minutes ago, chicken said: That doesn't look at all dodgy. Being run by three chaps who own 5% of a firm that is invested in the firm that... How on earth did this pass the EFL checks? I thought after the Southampton debacle they were going to prevent these sorts of companies from owning clubs? Am I right in saying that "Gamechanger" is essentially a new business set up with the sole purpose of running the club as a tier of protection for the pension investment company? In other words, if it goes **** up, Gamechanger gets saddled with the debt, goes bust and everyone is happy apart from the local business owners etc - "again". And the chaps having the say so own 5%. Hah! Nothing wobbly about any of that? Anyone know who Evans' pension is with? 4 minutes ago, chicken said: Anyone know who Evans' pension is with? Arcadia Share this post Link to post Share on other sites
hogesar 9,606 Posted April 7, 2021 I'm not sure the new owners look like anything to get vaguely excited about from an ITFC point of view but you'd have to say it's worth the risk because under Evans they've regressed year on year. Share this post Link to post Share on other sites
Crabbycanary3 994 Posted April 7, 2021 They say for it to get a return , they need to get to the Prem. Now that is sort of obvious, but a warning because they are that far behind the ball game, and there are far better teams and also Clubs that are already miles ahead of them. Share this post Link to post Share on other sites
Bill 1,788 Posted April 7, 2021 "Am I right in saying that "Gamechanger" is essentially a new business set up with the sole purpose of running the club as a tier of protection for the pension investment company? In other words, if it goes **** up, Gamechanger gets saddled with the debt, goes bust" yep the question now is how much of the equity they have bought, less than 80 % ? how much debt gave they acquired and what will they be charging the binners ? much else will be revealed as they are obliged to make the same offer to ITFC PLC who still own 12.5% of the club Share this post Link to post Share on other sites
FenwayFrank 2,447 Posted April 7, 2021 Evans was putting in £7m of his own money in every year, it will be interesting to see what Gamechanger do bearing in mind they will be looking to make a profit. They have nothing to sell of any value either. Share this post Link to post Share on other sites
Greavsy 2,412 Posted April 7, 2021 https://www.eadt.co.uk/sport/ipswich-town/ipswich-town-sold-to-american-investors-7878606 Sold for £40M according to EADT. We have players worth more than that on their own! Share this post Link to post Share on other sites
sonyc 5,481 Posted April 7, 2021 "Gamechanger" eh? Hancock or Zahawi must be involved somewhere. 1 Share this post Link to post Share on other sites
cambridgeshire canary 6,668 Posted April 7, 2021 'A key factor in reaching my decision to support the investment by a pension fund is the basic principle around which any such fund needs to invest. It has to see a return on its investment, and that return in all likelihood can only be achieved by way of promotion to the Premier League' Hahahahaahahahaa 1 Share this post Link to post Share on other sites
Bill 1,788 Posted April 7, 2021 3 minutes ago, FenwayFrank said: Evans was putting in £7m of his own money in every year, it will be interesting to see what Gamechanger do bearing in mind they will be looking to make a profit. They have nothing to sell of any value either. urbin myth, that their accounts disprove Share this post Link to post Share on other sites
Ken Hairy 3,756 Posted April 7, 2021 Jesus Christ, this doesn't sound dodgy at all....... Bolton MkII Share this post Link to post Share on other sites
Greavsy 2,412 Posted April 7, 2021 Just now, Bill said: urbin myth, that their accounts disprove Is that your polite way of calling someone a liar again Bill? 1 Share this post Link to post Share on other sites
cambridgeshire canary 6,668 Posted April 7, 2021 1 minute ago, Ken Hairy said: Jesus Christ, this doesn't sound dodgy at all....... Bolton MkII We live in hope Share this post Link to post Share on other sites
BroadstairsR 2,135 Posted April 7, 2021 Hit or miss. More investment? Where from? The bullshine included in those carefully prepared statements will keep the faithful on board. They might even get 12, 000 season ticket sales again. Hot potato springs to mind. 1 Share this post Link to post Share on other sites
FenwayFrank 2,447 Posted April 7, 2021 1 minute ago, BroadstairsR said: Hit or miss. More investment? Where from? The bullshine included in those carefully prepared statements will keep the faithful on board. They might even get 12, 000 season ticket sales again. Hot potato springs to mind. On twtd they’ve been talking about having 20k season ticket holders for next season 😁 Share this post Link to post Share on other sites
Bill 1,788 Posted April 7, 2021 So as far as I can make out Evans has sold his 87.5% if the club to Gamechanger who now own 90% of that part the other 10% is owned by the three amigos (3 Lions Fund) and Evans (yes him) Gamechanger are funded by ORG who manage funds for the Arizona state pension fund all a bit tenuous to my mind Share this post Link to post Share on other sites
Greavsy 2,412 Posted April 7, 2021 1 minute ago, Bill said: So as far as I can make out Evans has sold his 87.5% if the club to Gamechanger who now own 90% of that part the other 10% is owned by the three amigos (3 Lions Fund) and Evans (yes him) Gamechanger are funded by ORG who manage funds for the Arizona state pension fund all a bit tenuous to my mind One big unanswered question though Bill. As they are US based will you need a VPN to watch the binners on TV?! 2 Share this post Link to post Share on other sites
Uncle Fred 526 Posted April 7, 2021 For any pension fund this will be a high risk investment they will need to achieve a return quickly or I fear long term for the future of the binners, I don’t fear at all tbh 1 Share this post Link to post Share on other sites
