DELIA & THE BOARD

[ron obvious 1,502]

[quote user="Jim Smith"]

Stop being so pedantic. You know full well what people mean. They want them to sell up and are saying they want to hasten the process. At the end of the day Chase had a majority shareholding as well. If he''d really, really wanted to he could have sat it out but he was effectively "removed" by fan pressure that really made his position untenable.

[/quote]This is actually quite interesting.If it really became extremely unpleasant for Delia, I would expect her toa) stop loaning the club money &b) retrieve as many of the existing loans as quickly as possible.She could then presumably leave the club to live off gate money plus whatever extra income is generated. This would presumably mean a decline in player quality (or would it??) & dropping down the divisions.As long as the debt could be financed the club would be kept out of administration. She wouldn''t even have to sell. The club would just never have any investment ever again. For ever & ever. Amen.In practice I doubt if it''s quite as simple as that, howeverInteresting though.

[Badger 0]

[quote user="ron obvious"][quote user="Jim Smith"]

Stop being so pedantic. You know full well what people mean. They want them to sell up and are saying they want to hasten the process. At the end of the day Chase had a majority shareholding as well. If he''d really, really wanted to he could have sat it out but he was effectively "removed" by fan pressure that really made his position untenable.

[/quote]This is actually quite interesting.If it really became extremely unpleasant for Delia, I would expect her toa) stop loaning the club money &b) retrieve as many of the existing loans as quickly as possible.She could then presumably leave the club to live off gate money plus whatever extra income is generated. This would presumably mean a decline in player quality (or would it??) & dropping down the divisions.As long as the debt could be financed the club would be kept out of administration. She wouldn''t even have to sell. The club would just never have any investment ever again. For ever & ever. Amen.In practice I doubt if it''s quite as simple as that, howeverInteresting though.

[/quote]And slowly strip the club of assets.

[Mr.Carrow 376]

[quote user="Badger"][quote user="ron obvious"][quote user="Jim Smith"]

Stop being so pedantic. You know full well what people mean. They want them to sell up and are saying they want to hasten the process. At the end of the day Chase had a majority shareholding as well. If he''d really, really wanted to he could have sat it out but he was effectively "removed" by fan pressure that really made his position untenable.

[/quote]

This is actually quite interesting.
If it really became extremely unpleasant for Delia, I would expect her to
a) stop loaning the club money &
b) retrieve as many of the existing loans as quickly as possible.
She could then presumably leave the club to live off gate money plus whatever extra income is generated. This would presumably mean a decline in player quality (or would it??) & dropping down the divisions.
As long as the debt could be financed the club would be kept out of administration. She wouldn''t even have to sell. The club would just never have any investment ever again. For ever & ever. Amen.

In practice I doubt if it''s quite as simple as that, however

Interesting though.


[/quote]

And slowly strip the club of assets.
[/quote]

All this could be happening right now.  In which case rather than focussing on the "monster" we might end up with if the club were sold, perhaps you should focus on the one we may already have......[^o)]

[Time to go Delia 0]

Why should she get her millions back ? nobody forced her to buy the club and she is responsible for running it into the ground , if you went out tomorrow and bought a new car and trashed it would you expect to sell it for a massive profit .She should be driven out of this club in the same way Chase was (for a lot less)  .

[ron obvious 1,502]

[quote user="Loan City Fc "]Why should she get her millions back ? nobody forced her to buy the club and she is responsible for running it into the ground , if you went out tomorrow and bought a new car and trashed it would you expect to sell it for a massive profit .She should be driven out of this club in the same way Chase was (for a lot less)  .[/quote]Who''s saying she should get her millions back? I''m just suggesting she might find a way to do it, if she really, really wanted to. If she got really, really fed up with a load of incontinent abuse heaped on her head.And I''m also suggesting that railroading her out of town may not be quite as easy as you might think,Here''s another thought: suppose a billionaire businessman - made his fortune in finance, insurance or some such - found himself in the same position - put money into the club - didn''t work out - mouthy supporters calling him all sorts, claiming he''s stealing money, supporting Ipswich & such; how do you think he, as a hard-nosed businessman would react? I wonder ....

[Badger 0]

[quote user="Loan City Fc "]Why should she get her millions back ? nobody forced her to buy the club and she is responsible for running it into the ground , if you went out tomorrow and bought a new car and trashed it would you expect to sell it for a massive profit .She should be driven out of this club in the same way Chase was (for a lot less)  .[/quote]And how do you drive her out?

[. 0]

[quote user="ron obvious"][quote user="Loan City Fc "]Why should she get her millions back ? nobody forced her to buy the club and she is responsible for running it into the ground , if you went out tomorrow and bought a new car and trashed it would you expect to sell it for a massive profit .She should be driven out of this club in the same way Chase was (for a lot less)  .
[/quote]

Who''s saying she should get her millions back? I''m just suggesting she might find a way to do it, if she really, really wanted to. If she got really, really fed up with a load of incontinent abuse heaped on her head.
And I''m also suggesting that railroading her out of town may not be quite as easy as you might think,

Here''s another thought: suppose a billionaire businessman - made his fortune in finance, insurance or some such - found himself in the same position - put money into the club - didn''t work out - mouthy supporters calling him all sorts, claiming he''s stealing money, supporting Ipswich & such; how do you think he, as a hard-nosed businessman would react? I wonder ....

[/quote]

Let the old witch do it then. I''d rather have the club back to rebuild after administration than see her glean the proceeds of her shameful manipulation of NCFC for her own personal "publicity" agenda.

 

[Camuldonum 0]

I do not believe for a moment that Delia would deliberately harm Norwich City by walking away from the club but if she and her husband were to do so all the loans (leave aside hers and the Turners) would be immediately repayable and the Royal Bank of Scotland would move in faster than you can say: "What''s my bonus."

That would leave you with finding somebody with an immediate £20m spare cash or you''d simply go out of business.

That you and many others believe she and others are incompetent to run your club is entirely another issue.  The only issue is that if she and her husband leave who is going to find the £20m plus that the Royal Bank of Scotland will want? 

Unless you have such a person in place - with Written Guarantees - you will go bust.

[Canary Wundaboy 1,359]

We''re already bust, we can''t even afford to send our players to Blackpool via airplane.Some people are so blind to the obvious it''s unreal.

[Barclay_Boy 0]

[quote user="Camuldonum"]

I do not believe for a moment that Delia would deliberately harm Norwich City by walking away from the club but if she and her husband were to do so all the loans (leave aside hers and the Turners) would be immediately repayable and the Royal Bank of Scotland would move in faster than you can say: "What''s my bonus."

That would leave you with finding somebody with an immediate £20m spare cash or you''d simply go out of business.

That you and many others believe she and others are incompetent to run your club is entirely another issue.  The only issue is that if she and her husband leave who is going to find the £20m plus that the Royal Bank of Scotland will want? 

Unless you have such a person in place - with Written Guarantees - you will go bust.

[/quote]

Absolutely fine. no problems there, would much rather go bust than continue to put up with the pathetic decline of NCFC under her "care".Obviously you''re right, we will go bust, because the club hasn''t got much support has it, with only 17000 season ticket holders? And clubs have gone bust so many times before when faced with this type of debt haven''t they?

[Barclay_Boy 0]

[quote user="Camuldonum"]

I do not believe for a moment that Delia would deliberately harm Norwich City by walking away from the club but if she and her husband were to do so all the loans (leave aside hers and the Turners) would be immediately repayable and the Royal Bank of Scotland would move in faster than you can say: "What''s my bonus."

That would leave you with finding somebody with an immediate £20m spare cash or you''d simply go out of business.

That you and many others believe she and others are incompetent to run your club is entirely another issue.  The only issue is that if she and her husband leave who is going to find the £20m plus that the Royal Bank of Scotland will want? 

Unless you have such a person in place - with Written Guarantees - you will go bust.

[/quote]

That''s ok, she''s been doing a brilliant job of  it without having to do it deliberately! 

[The Fish Seller 0]

[quote user="Camuldonum"]

I do not believe for a moment that Delia would deliberately harm Norwich City by walking away from the club but if she and her husband were to do so all the loans (leave aside hers and the Turners) would be immediately repayable and the Royal Bank of Scotland would move in faster than you can say: "What''s my bonus."

That would leave you with finding somebody with an immediate £20m spare cash or you''d simply go out of business.

That you and many others believe she and others are incompetent to run your club is entirely another issue.  The only issue is that if she and her husband leave who is going to find the £20m plus that the Royal Bank of Scotland will want? 

Unless you have such a person in place - with Written Guarantees - you will go bust.

[/quote]You overlook the fact that Delia and MWJ cannot ''walk away from the club'', it''s not that simple. As majority shareholders the only way they can walk away is for somebody to purchase their shareholding and I''ve a feeling anybody with that intention will be fully aware of the financial liability incurred. The problem Delia has is that she is not accurately reflecting the value of the club by asking £30 each for her shares.Company rules and Football League rules will prevent Delia asset stripping for personal gain''s be lucky to call in her Directors loans without tipping the club into admin and losing her claim (IMO).She''s as stuck with us as we are with her until somebody comes in for her shareholding. That this shareholding comes with a £20m caveat attached will be Delias problem when she tries to get value for her shares.If we go into admin I can see Delia walking away with nothing and I strongly suspect this to be the reason for so little commitment on the football side since 2005 in favour of book balancing and those tangible fixed assets we hear about from time to time. If the company is solvent she might see her loans returned and a token payment for her shareholding on takeover, if we are insolvent she''ll be last in a pretty long queue of creditors and she knows it.It''s a sorry state to be in, by concentrating so keenly on balancing the books to maintain a high share value the board are guilty of allowing the core product to decline to such an extent that in the best case scenario they will be looking to sell a football club with less goodwill than the average window cleaning round and in the intangible world of football club finance and valuation this might ultimately affect the valuation of the club far more than a year or two of balanced books.

One thing is for sure Cam we will not go bust after Delia leaves (for our liabilities must be assumed by whoever purchases her shares), but we might very well go bust whilst she''s still here.

[Badger 0]

[quote user="Buckethead"]You overlook the fact that Delia and MWJ cannot ''walk away from the club'', it''s not that simple. As majority shareholders the only way they can walk away is for somebody to purchase their shareholding and I''ve a feeling anybody with that intention will be fully aware of the financial liability incurred. The problem Delia has is that she is not accurately reflecting the value of the club by asking £30 each for her shares.Company rules and Football League rules will prevent Delia asset stripping for personal gain''s be lucky to call in her Directors loans without tipping the club into admin and losing her claim (IMO).She''s as stuck with us as we are with her until somebody comes in for her shareholding. That this shareholding comes with a £20m caveat attached will be Delias problem when she tries to get value for her shares.If we go into admin I can see Delia walking away with nothing and I strongly suspect this to be the reason for so little commitment on the football side since 2005 in favour of book balancing and those tangible fixed assets we hear about from time to time. If the company is solvent she might see her loans returned and a token payment for her shareholding on takeover, if we are insolvent she''ll be last in a pretty long queue of creditors and she knows it.It''s a sorry state to be in, by concentrating so keenly on balancing the books to maintain a high share value the board are guilty of allowing the core product to decline to such an extent that in the best case scenario they will be looking to sell a football club with less goodwill than the average window cleaning round and in the intangible world of football club finance and valuation this might ultimately affect the valuation of the club far more than a year or two of balanced books.[/quote]Yes, I agree with most of this. However, the sale of assets to repay loans is permissable as long as it is done "the right way" (ie legally). If no acceptable offer for the club comes in, this might be the best way of recovering a significant proportion of her money. Equally, once loans are repayed, further asset sales could be used to  pay dividends, which they as majority shareholders would benefit most from. To say that they couldn''t run down the assets of the company to regain a signifiant proportion of the investment is not true.Once again we come back to the key question of what any protest would be for other than a means of venting anger or giving the illusion of influence. It would only be of practical benefit if you think that they would be so upset that they gave the club to anyone in a position to pay off/ finance the loans, without any repayment of the investment/ loans that they have made. In the long run, asset values will recover - land prices will rise, the economy will become more liquid and solvent buyers will appear again. If it were my money I''d stick it out. How much grief would you put up with for several million pounds?