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1 hour ago, Indy said:

I can’t buy that the due diligence was that poor, surely if a 5 million deal was on the table the team would have carried out a full report on the pros and cons of this sponsor and as you highlight, just a little digging by the fans showed up some questions. I tend to lean on that there’s certainly some level of detail but the money looked pretty good too.

We shall never know, but can all take our guess based on our opinion Purple, you certainly could be right…..👍

PS as a side note if Kensell was already leaving then that could have been reported when this all came to light a few weeks ago, it smacks of a golden handshake, you take responsibility for this. I’m sure all parties will be happy.

Actually Indy I have just found out you were quite right, having been sent audiotape of the board meeting:

Kensell: 'We are recommending  betting firm BK8 as our main sponsors;'

Committed Catholic Delia: 'UK-based?'

Kensell: 'We did try to trace their ownership but couldn't exactly nail it down. Bit of a convoluted trail actually.'

Very committed Catholic Delia: 'Could be money-laundering for all I care. Anything else?'

Kensell: 'Well their advertising is in effect soft-core p o r n that is ultra degrading to women, and they have marketing links to hard-core  p o r n.'

Really very committed Catholic Delia: 'Sounds fine to me.'

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I bet on New Year’s Eve BK was sitting there with his glass of bubbly looking forward to the riches of the premier league

little did he know a few months later his career would be ended by an Asian babe with a deep throat sausage fetish that he never actually met.

I bet he didn’t see that one coming 😊

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31 minutes ago, KeiranShikari said:

It's the opposite to gammon. Be somewhere inbeween.

I object to the denigration of us Gammons my pro nouns are Gammon/Salted pork 

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Seems to me like the sponsorship problems maybe sped up a departure that was being prepared for somewhere later down the line. Interesting part towards the end of the article saying that developments at Colney and transfers are the priority for now, whereas Kensell had his eye on developing Carrow Road. Presume he was told it's going to be years before that is even a possibility and he didn't fancy sticking around until then.

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1 hour ago, shefcanary said:

Call me a wokey if you want but the statement of him deciding to leave in May and all the glossy back slapping is total flam.  Whether he decided to go himself, it was mutual or he was pushed the timing is all due to the BK8 debacle. Otherwise a person of his importance in the club would be working at least a 3 month, more likely a 6 month notice.  I'm not particularly senior in my own organisation but I have a 3 month notice period to work.  To be leaving as promptly as reported means one and one thing only - he had to go.

And for those saying he got more right than wrong, he has been behind 3 absolute bell-end decisions over the past three seasons - in any line of work, your first offence gets a verbal warning, the second a written warning, the third the boot.  Does that sound woke enough?  The guy failed, he had to go.

Have to endorse this. I am delighted that this incompetent man is no longer going to be at the club. I challenged him about the amount of the Dafabet sponsorship and he tried to belittle me. It was an over inflated claim by him which in reality was the poorest in the PL even amongst teams with the same sponsors. He has been found out at last by one **** up too many.

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6 minutes ago, repman said:

Seems to me like the sponsorship problems maybe sped up a departure that was being prepared for somewhere later down the line. Interesting part towards the end of the article saying that developments at Colney and transfers are the priority for now, whereas Kensell had his eye on developing Carrow Road. Presume he was told it's going to be years before that is even a possibility and he didn't fancy sticking around until then.

I would be very, very surprised if this wasn't mostly down to the BK8 fiasco.

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19 minutes ago, Graham Paddons Beard said:

Shef you will need to explain how a notice period affects the tax position? I’ve been a main board director for 20 years and if you are correct I need to change my advisors!! 
(My Notice Period is 12 months by the way) 

The whole area of Payments in lieu of notice (or PILONs- not to be confused with that thing that Woke's have apparently done re. Kensall) has been attacked by HMRC in recent years, but there are still a few loopholes that exist.  I understand that clever drafting can define how the payment can be made which attracts a lower rate of income tax.  For instance payment could be in non-cash equivalents which although don't avoid tax altogether can defer the point at which tax becomes payable  - the risk then becomes potential tax rates may increase, but there again they could go down.  You may also have other business interests that could channel the payment to a lower taxable income area.  I'm not a tax adviser mind, just an FD, so always take the advice of a specialist.

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i Do not like seeing anybody lose their job so i hope it works out for Ben Kensell 

If you knew how Quickly Delia dealt with Jez Moxey when Things were going on that Delia did not like 

 i am not surprised after the mess up of the  Sponsor Deal 

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Posted (edited)

I see the meeting tonight between Ben Kensell and the Canaries Trust has been cancelled.

Edited by Naturalcynic

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It will be interesting to see what his next job is, what happened to the bingo man (can’t remember his name) who left a few years ago? 

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37 minutes ago, PurpleCanary said:

Actually Indy I have just found out you were quite right, having been sent audiotape of the board meeting:

Kensell: 'We are recommending  betting firm BK8 as our main sponsors;'

Committed Catholic Delia: 'UK-based?'

Kensell: 'We did try to trace their ownership but couldn't exactly nail it down. Bit of a convoluted trail actually.'

Very committed Catholic Delia: 'Could be money-laundering for all I care. Anything else?'

Kensell: 'Well their advertising is in effect soft-core p o r n that is ultra degrading to women, and they have marketing links to hard-core  p o r n.'

Really very committed Catholic Delia: 'Sounds fine to me.'

Very good Purple!

could have been more likely that a few options were laid on the table, I doubt Kensell and his team had the authority to choose one, then after being discussed, BK8 we’re possibly given the nod to look into, the contract they were offering, their requirements for that sponsorship and then the due diligence process agreed.

Before final agreement which I’m pretty sure would have to be done at higher level than Kensell would have been given a full report to overlook.

But I’m sure you’re more in a position of knowing than me, so I’ll take your well educated view to be correct!

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20 minutes ago, Indy said:

Very good Purple!

could have been more likely that a few options were laid on the table, I doubt Kensell and his team had the authority to choose one, then after being discussed, BK8 we’re possibly given the nod to look into, the contract they were offering, their requirements for that sponsorship and then the due diligence process agreed.

Before final agreement which I’m pretty sure would have to be done at higher level than Kensell would have been given a full report to overlook.

But I’m sure you’re more in a position of knowing than me, so I’ll take your well educated view to be correct!

Indy, I don't know for sure, but I do not believe that if the board had been made aware of the various salacious - and worse - aspects of BK8's operation that they would have OKed it.

I think either the due diligence wasn't done properly, so those recommending BK8 had no idea of any of the soft and hard s e x stuff. Or, which I can believe, the due diligence uncovered (as it were!) the skimpily dressed models etc, but only that, and regarded that as par for the course.

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9 minutes ago, PurpleCanary said:

Indy, I don't know for sure, but I do not believe that if the board had been made aware of the various salacious - and worse - aspects of BK8's operation that they would have OKed it.

I think either the due diligence wasn't done properly, so those recommending BK8 had no idea of any of the soft and hard s e x stuff. Or, which I can believe, the due diligence uncovered (as it were!) the skimpily dressed models etc, but only that, and regarded that as par for the course.

Agree, we don’t know, we don’t know what was carried out, what wasn’t and who, all we know is within a week of rolling out the new sponsor, it was ditched due to questionable links and now Kensell has been let go to new challenges.

As I first said we can read our own opinions into it, I was part of a board, I have my own company now and I know that anything of this type of financial impact would certainly be looked into and made at higher levels. Ours was at far less the size financially and not a sponsor, but new suppliers from all over the world were vetted and vetted thoroughly before being given a green light.

You’re probably right as I’ve already said, they didn’t know anything about a 5 million sponsor and it’s tenuous links. 

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Shame to hear this news. Ben was a bit of a fast talker but I spoke to him on a number of occasions in the wake of the membership scheme and he was a decent guy who made time to listen and engage with the fans.

Fundamentally his two main errors in the job arose out of the conflict between having to max out revenues due to our “self funding” and our status as a “community club.” Not an easy circle to square!

feels a bit at the moment as though the wheels are coming off a bit. I’m sure they aren’t but I’d like to see some leadership and some positive news.

 

 

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Awful lot of naivety on this thread.

What do we actually know?

Kensell has just overseen a massive **** up that got the club huge negative press and damaged its relationships with fans in the short term.

Kensell was announced to appear at a supporters forum tonight.

The club suddenly announces he's leaving and he's pulled from the supporters forum at very short notice.

He apparently handed his notice in in May and is leaving already with no opportunity lined up and no replacement ready. 

If he quit in May why is he leaving already? No senior exec has a one month notice period. That's ridiculous. I've been involved in senior level recruitment and pretty much anyone above mid level management has a three month notice minimum to make sure the company isn't suddenly left high and dry by a resignation. Nobody in a C level position has 4 weeks notice.

If he quit in May and its all planned why would he be announced for a supporters forum only to pulled with less than three hours notice?

If he quit in May and was leaving now why was he front and center of the bk8 announcement?

If he quit in May then why is it all these journalists who are so well connected didn't have a sniff of it but know the whole story now its announced?

It's PR and face saving from the club. They probably all like Ben and will brief that this isn't related to BK8 to give him the nest chances going forward. And fair enough. But if you believe the club is just putting the gods honest truth out there then I've got a bridge to sell you.

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All I can say is he appeared to get more right then wrong, if his departure isn’t linked to BK8 then that’s a very unfortunate note to leave on. Either way, he has maximised off-field revenue and I’ve not heard a bad word said about him from those who met him.

 

A lot of people behind the scene moving on and with Webber potentially gone next summer it’s really important we get people in quickly and also get the ball rolling on some transfers.

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1 hour ago, PurpleCanary said:

Indy, I don't know for sure, but I do not believe that if the board had been made aware of the various salacious - and worse - aspects of BK8's operation that they would have OKed it.

I think either the due diligence wasn't done properly, so those recommending BK8 had no idea of any of the soft and hard s e x stuff. Or, which I can believe, the due diligence uncovered (as it were!) the skimpily dressed models etc, but only that, and regarded that as par for the course.

Yeah I generally think Delia & MWJ delegate and leave this stuff to the people they hire, I doubt they are hugely involved in it. If Kensell/that team recommend the club goes woth sponsor x I imagine they trust them.

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Posted (edited)

I have been told by somebody who uses Twatter that McNasty has raised his head and given glowing praise of Ben Kensell followed by Jake Humphrey and Darren Huckerby. No doubt Mick Dennis will add to the circle of wagons being placed around the club.

Edited by TIL 1010
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3 minutes ago, TIL 1010 said:

I have been told by somebody who uses Twatter that McNasty has raised his head and given glowing praise of Ben Kensell followed by Jake Humphrey and Darren Huckerby. No doubt Mick Dennis will add to the circle of wagons being placed around the club.

To be fair to Ben, he did a lot of good for the club over the past 7 years. Yes the BK8 debacle might be poor judgement but on the whole he fulfilled his role very well. Shame it seems to have ended the way it did but as with an things if it is because of that then the blame has to lay with someone

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So, Kensell, Kendall and Kelsall have all left today? Is there anybody left on the executive committee?

BTW Does anyone thinks that BK8 stands for BenKensell8?

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Posted (edited)
8 minutes ago, AJ said:

To be fair to Ben, he did a lot of good for the club over the past 7 years. Yes the BK8 debacle might be poor judgement but on the whole he fulfilled his role very well. Shame it seems to have ended the way it did but as with an things if it is because of that then the blame has to lay with someone

Don't get me wrong i found Ben a pleasant chap and he was very helpful over an issue i had with the club concerning a late friend whereby i was banging my head against a brick wall until Ben invited me to his office and involved himself to help resolve the matter which due to lockdown and covid is still to reach completion. I only hope i don't have to start all over again now he is going.

My take is on the timing of this announcedment that although he made his intention to leave known in May he is carrying the can for somebody beneath him but as the saying goes the buck stops at the top.

Edited by TIL 1010

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4 hours ago, Indy said:

Only asking the question, did they do the due diligence correctly? I’d be astonished if any major sponsorship deal isn’t signed off by the board! It’s too big a deal to be left for Kensell alone. 
I’m sure they knew the reputation linked with this company, possibly not all the fine details but funny how quick they were highlighted by normal people not involved in due diligence, so makes me think they took a chance for £5 million.

The due diligence question is quite a big one.  But you can imagine that Ben Tunnell would have been at the heart of the deal, being head of the commercial department and would have had the trust of Ben Kensell to have done the due diligence, therefore all he, BK, had to do was to ok it, on the strength of what BT would have presented to him.  

In hindsight, you can easily see how the systems in place were not good enough to see any flaws in the deal. Yes, it was ultimately BK's responsibity, but that due diligence should have been done in the commercial dept under BT - and therefore BK would have had no reason to question it, although I bet he thinks differently now.

So ok, I don't really know the ins and outs of it for sure, but I do know that Ben Kensell is very highly thought of, is reponsible for a hugely successful time in his role at the club in creating partnerships and raising money - and those that are saying he has done no good in his time at the club are talking through their backsides.   

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It is of course possible that the board agreed to a sponsorship deal against BK's advice and he resigned in May as a consequence. It would not be the first time the board have taken a decision against the advice of people within the club.

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Sounds like he was gonna leave maybe the end of this coming season but the BK8 debacle has brought that forward. The club can spin it all they like but he's fallen on his sword with that.

Trying to stay at prem level while being "self funded" seems to be absolutely killing us. Unless we find some better investment we are basically praying for a miracle or we've very much hit our ceiling.

Particularly galling seeing Villa buy our best player off us having followed a strategy of dodgy billionaire owners and completely irresponsible spending but then elite football isn't a business for the nice guys any more.

Also watching Leeds look over plans to up their ground to 55k and revamp the training ground further seems that the "get a wealthy owner" is increasingly becoming the only way to get anywhere at this level.

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1 hour ago, king canary said:

Awful lot of naivety on this thread.

What do we actually know?

Kensell has just overseen a massive **** up that got the club huge negative press and damaged its relationships with fans in the short term.

Kensell was announced to appear at a supporters forum tonight.

The club suddenly announces he's leaving and he's pulled from the supporters forum at very short notice.

He apparently handed his notice in in May and is leaving already with no opportunity lined up and no replacement ready. 

If he quit in May why is he leaving already? No senior exec has a one month notice period. That's ridiculous. I've been involved in senior level recruitment and pretty much anyone above mid level management has a three month notice minimum to make sure the company isn't suddenly left high and dry by a resignation. Nobody in a C level position has 4 weeks notice.

If he quit in May and its all planned why would he be announced for a supporters forum only to pulled with less than three hours notice?

If he quit in May and was leaving now why was he front and center of the bk8 announcement?

If he quit in May then why is it all these journalists who are so well connected didn't have a sniff of it but know the whole story now its announced?

It's PR and face saving from the club. They probably all like Ben and will brief that this isn't related to BK8 to give him the nest chances going forward. And fair enough. But if you believe the club is just putting the gods honest truth out there then I've got a bridge to sell you.

A conversation was had weeks ago and nothing to do with the sponsorship deal, the deal was also worth more than the quoted figure, commercial revenues have sky rocketed on his watch, player purchases come from money you generate (thank you Mr Kensell), SW list of failures are on 3,4 year contracts and people need to be careful what they wish for, when the bloke from a Norfolk only institution walks through the door and does things the Norfolk way. 

Thank you for your 7 years Mr Kensell.

 

PS Its not the fans business to know notice periods or for the EDP to demand commercial contract values.

 

Let's focus on signings and Liverpool in August.

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