Nephew Tom

[benchwarmer 625]

1 hour ago, lake district canary said:

Tom? An heir to the family Smith assets, so - unless they decide to sell - their shares would pass to him - by right. Not some nepotostic drama, but by right.  Not sure some people quite understand that, but there it is.

 

No that's not how it's going to work.  The shares will be held in a trust controlled by the current owners (we were told this some years ago) which means that Tom Smith won't be able to bring in new investment or sell the club without their agreement.  

Edited November 2, 2021 by benchwarmer

[Mello Yello 2,289]

12 minutes ago, benchwarmer said:

As I understand it, Tom Smith will only have control of the day to day running of the club.  The shares will be held in a trust controlled by the current owners, so he will not be able to sell the club or bring in new investment without their agreement.  He will be a puppet in other words.

I asked for a DM but Auntie says NO!

[Danbury Yellow 126]

If Tom was to sell, once he has the shares, what’s the likely personal wealth he might receive? I’ve actually not got a clue how much the club is worth?? £150m plus? 
I’m assuming it’s many millions anyway I know what I’d do.  

[dylanisabaddog 4,914]

2 hours ago, TeemuVanBasten said:

The club being passed to somebody with no money is probably a good thing, will speed up the point at which the trustees feel compelled to find a new owner. 

How do you know he has no money? 

Have you seen the Will? 

[Inch High aka Inchy.. 405]

22 minutes ago, benchwarmer said:

As I understand it, Tom Smith will only have control of the day to day running of the club.  The shares will be held in a trust controlled by the current owners, so he will not be able to sell the club or bring in new investment without their agreement.  He will be a puppet in other words.

That's assuming they outlive him. In case you haven't noticed Delia and MWJ are getting on a bit.

 

[A Load of Squit 5,161]

 

Nepopuppetism! I like it.

Anyone who watches Pointless will know that if someone tells you they are civil servant and they only say which ministeries they work in like MOD, Commonwealth Office etc. it means they are a spy.

Tom has been working abroad, probably behind enemy lines doing top secret work, being a director of a football club is perfect cover.

 

[TeemuVanBasten 3,327]

23 minutes ago, benchwarmer said:

As I understand it, Tom Smith will only have control of the day to day running of the club.  The shares will be held in a trust controlled by the current owners, so he will not be able to sell the club or bring in new investment without their agreement.  He will be a puppet in other words.

Walker left his kids Blackburn in trust too. Now it is owned by the Venky's.

The trust is controlled by the trustees. 

[benchwarmer 625]

15 minutes ago, Inch High aka Inchy.. said:

That's assuming they outlive him. In case you haven't noticed Delia and MWJ are getting on a bit.

 

Delia's mum lived to 100 so we could still be talking 20 years.  

Edited November 2, 2021 by benchwarmer

[benchwarmer 625]

7 minutes ago, TeemuVanBasten said:

Walker left his kids Blackburn in trust too. Now it is owned by the Venky's.

The trust is controlled by the trustees. 

Depends who the trustees are, doesn't it?

[BigFish 1,986]

Just now, benchwarmer said:

Delia's mum lived to 100 so we could still be talking 20 years.  

Jeex, 20 years of this debate - I can hardly wait

[BigFish 1,986]

1 hour ago, benchwarmer said:

A 47% shareholding means very little if it cannot outvote the other 53%.  The owners know they can do exactly what they like.  But as the saying goes, "give them enough rope . . .".

Shareholder application to court – unfair prejudice – S.994 Companies Act 2006:

A shareholder who thinks that the company is being run in a way which is unfairly prejudicial to some of the shareholders (they may even be the majority) may make an application to the Companies Court to correct that behaviour.  For example, failing to pay declared dividends, undertaking activities which are not permitted under the company’s Articles or doing something which might result in the company’s insolvency, are all things which might justify an application. 

It is important to act quickly because the court will reject an application where the shareholder has allowed things to run on, as the court will regard this as acquiescence in the action taken by the Director/s.

If an application is made, the shareholder may be required to sell his/her shares to the remaining shareholders by the court as a way of resolving the matter if this is practical.  There are other issues for the court to consider when dealing with the application and these include the shareholder’s own conduct.

These applications are rarely straightforward and are often settled by negotiation before the court is asked to make a final decision.  Quite often, one or more of the shareholders leave with a package.

[benchwarmer 625]

40 minutes ago, BigFish said:

Jeex, 20 years of this debate - I can hardly wait

Not necessarily.  If the owners' attitude towards selling/new investment doesn't change, there might not be a club to debate about.  Unless it went into administration of course; in the worst case scenario, admin might even turn out to be our best hope for the future.  Let's hope it doesn't come to that.

Edited November 2, 2021 by benchwarmer

[percy varco 198]

My mates mum made christmas crackers for Tom Smith on their kitchen table. 
I think this Smith chap has a good business history👍👍

[norfolkngood 1,086]

1 hour ago, A Load of Squit said:

 

Nepopuppetism! I like it.

Anyone who watches Pointless will know that if someone tells you they are civil servant and they only say which ministeries they work in like MOD, Commonwealth Office etc. it means they are a spy.

Tom has been working abroad, probably behind enemy lines doing top secret work, being a director of a football club is perfect cover.

 

Did he Scout Sargent when he was Working in Germany 

[A Load of Squit 5,161]

1 minute ago, norfolkngood said:

Did he Scout Sargent when he was Working in Germany 

If I told you then I would have to kill you. 🤐

 

[norfolkngood 1,086]

3 minutes ago, A Load of Squit said:

If I told you then I would have to kill you. 🤐

 

That Explains It Nephew Tom has Been Overseas Scout I knew it !🤣

i always wondered if James Bond Kept all the money he won in casinos maybe Tom is worth a fortune !!

 

Edited November 2, 2021 by norfolkngood

[king canary 7,605]

3 hours ago, BigFish said:

Pretty much it is chippiness from an element of the support. Quite common behaviour amongst small companies to bring the family on board and unless you want to change the whole structure of capitalism objecting to it is pretty hypocritical. The club needs a succession plan considering the age of the owners and this is it. Other plans could be available if someone wanted to come up with them, but no one has. Worth baring in mind that there is 47% of the club shares that belong to shareholders other than S&J, perhaps they could come up with something?

I don't see it as chippiness but each to their own.

I always think it is shakey ground to compare football clubs to any other 'small company.' The owners of my local butchers don't harp on about the shop really belonging to the customers and them just being custodians of it for example. I don't find it hypocritical to expect what I view as community institution like a football club to be run differently to a standard company.

[wcorkcanary 4,334]

2 hours ago, dylanisabaddog said:

How do you know he has no money? 

Have you seen the Will? 

Do not question the TuB  . He knows.

[essex canary 496]

On 02/11/2021 at 18:11, A Load of Squit said:

 

Nepopuppetism! I like it.

Anyone who watches Pointless will know that if someone tells you they are civil servant and they only say which ministeries they work in like MOD, Commonwealth Office etc. it means they are a spy.

Tom has been working abroad, probably behind enemy lines doing top secret work, being a director of a football club is perfect cover.

 

Perhaps he will appoint Marco Bielsa as manager?

[PurpleCanary 5,557]

On 02/11/2021 at 18:19, benchwarmer said:

As it happens I do want to change the whole structure of capitalism but that's another story.

A football club is not just another "small company" which will go out of business if it doesn't give its loyal customers what they want.  Loyal football fans continue to shell out no matter what and are therefore ripe for exploitation.  

A 47% shareholding means very little if it cannot outvote the other 53%.  The owners know they can do exactly what they like.  But as the saying goes, "give them enough rope . . .".

 

Actually I thought the whole anti-S&J argument was that their supposed incompetence  could end up taking the club out of business, or at least into administration. And as said before  and as BF indicates, S&J's majority holding would not allow them to stand in the way of a valid takeover bid, and especially not if the minority shareholders and anti-S&J fans got themselves organised in it favour. But the latter especially so far show no signs of being sufficiently bothered to do any more than whinge pathetically in cyberspace.

[Uncle Fred 526]

43 minutes ago, PurpleCanary said:

Actually I thought the whole anti-S&J argument was that their supposed incompetence  could end up taking the club out of business, or at least into administration. And as said before  and as BF indicates, S&J's majority holding would not allow them to stand in the way of a valid takeover bid, and especially not if the minority shareholders and anti-S&J fans got themselves organised in it favour. But the latter especially so far show no signs of being sufficiently bothered to do any more than whinge pathetically in cyberspace.

What is wrong with whinging pathetically in cyberspace 

[Yobocop 1,098]

On 02/11/2021 at 14:30, Uncle Fred said:

All valid points he simply doesn’t have the experience to run a large business

he is only in the role due to nepotism not skills or talent 

Yet supposedly has the skills to mastermind and implement a plan to revolutionise the club from top to bottom. 

[Doomcaster 10]

I fully understand Auntie giving NCFC to Tom as she clearly trusts him

I also need to add - I have always trusted Auntie D to not sell NCFC to a poor buyer (but hoped she found a good buyer)

However - I do not understand why Auntie D does not even consider offers for NCFC at all (Tom could be a very rich young man)

If/when we get relegated this season - the squad does not look good for immediate promotion back to the Prem IMHO.  There are so many rich owners now in the Championship, we could easily get stuck in the Champ until the parachute payments run out

We have Aarons & perhaps a decreasing £££ asset in Cantwell to sell - but we are running out of young Jewels under Webber

Champ relegation battles, or perhaps to be a top quality self funded Club in L1 - is most likely for our 4 or 5 year future

Finance is all important in the Prem (sadly) - it is rapidly becoming all important in the Championship as well (owners looking to gain the riches of the Prem asap)

Tom will not have the money to keep NCFC in the Prem - sadly nor the Championship as it heading atm

A top quality self funding Club - looks like L1 in the future

Hope I am wrong & NCFC wins the next few matches, & get us back on track & then go on to survive in the Prem (heart rules head)

I will be at Carrow Rd even in L1 (health permitting) as a loyal supporter for over 55 years

OTBC

[Nora's Ghost 157]

Long term lethargy on the part of a submissive fan base has allowed this situation to happen and anywhere else Smith and Jones would be just a memory now.

 

Just a couple of seasons back the CR crowd were taunting the pathetic assemblage of Ipswich supporters that we wouldn't be playing them again anytime soon.

 

 

[A Load of Squit 5,161]

10 minutes ago, Yobocop said:

Yet supposedly has the skills to mastermind and implement a plan to revolutionise the club from top to bottom. 

What skills are required?

[Badger 2,405]

On 02/11/2021 at 15:56, king canary said:

Firstly nepotism is never popular. It isn't his fault but being parachuted into a senior role at a football club due to nothing more than being a blood relative of someone else will inevitably get peoples backs up.

Sorry, are you talking about Leicester? Or Southampton under Katharina Liebherr or now under Nelly Jisheng? Or perhaps Avram Glazer (son of Malcolm)? Or then again, do you mean Gino Pozzo, son of Giampaolo? 

Blood relatives are all over the Premier League. It is archetypal of business ownership* and arguably a better form of succession than simply selling to the highest bidder?

* Private Ltd Cos

Edited November 5, 2021 by Badger
Asterix and comment

[PurpleCanary 5,557]

38 minutes ago, Uncle Fred said:

What is wrong with whinging pathetically in cyberspace 

A fair point. If it was barred the numbers of posters here would probably halve overnight...😍