Delia's legacy

[Felixfan 53]

Thiking about last nights AGM I was struck by the massive contribution "brand Delia" makes to the club and whether this could continue post Delia.

In similar vein we do not know who would inherit the majority shareholding ie .ownership of the club in the event of Delia and Michaels joint demise.Not sure that we are entitled to know but we do know they have no children so their wills could be of concern to us all, and it also raises the question of loan repayments which may be triggered by death.

Anybody have any ideas on this?

[York Canary 28]

Wow, not sure I want to be thinking about her untimely demise - hopefully she''ll be here at the club and live on for a good number of years yet!It''s good that people realise her input though - it would be a weird feeling without her and MJW around. Interesting thing about the catering revenue too at the AGM - making more money from that than most Prem clubs. Must be good pies!;)

[First Wizard 0]

[quote user="Jin"]Wow, not sure I want to be thinking about her untimely demise - hopefully she''ll be here at the club and live on for a good number of years yet!
It''s good that people realise her input though - it would be a weird feeling without her and MJW around. Interesting thing about the catering revenue too at the AGM - making more money from that than most Prem clubs. Must be good pies!;)
[/quote]

 

I won''t shy away from this, it''ll cost us a fortune, from saving the club to destroying it in one easy lesson?

 

Jeez, when will you dim wits wake up?

[John 0]

[quote user="First Wizard"]

[quote user="Jin"]Wow, not sure I want to be thinking about her untimely demise - hopefully she''ll be here at the club and live on for a good number of years yet!It''s good that people realise her input though - it would be a weird feeling without her and MJW around. Interesting thing about the catering revenue too at the AGM - making more money from that than most Prem clubs. Must be good pies!;)[/quote]

 

I won''t shy away from this, it''ll cost us a fortune, from saving the club to destroying it in one easy lesson?

 

Jeez, when will you dim wits wake up?

[/quote]Please elaborate Wiz. I''m up for a laugh.

[city till i die 0]

dont worry wiz!!

you could pop it well before hrh delia and michael goes!!

[LeJuge 0]

If Wiz had his way Delia would have sold out to Giovanni Di Stefano when he tried again in 2007. Then he could have bankrupted us like he has two other clubs and Wiz could return to his first love, Ipswich Town.Delia is making amends with the help of the new board. If we were to end up debt free and with a 35,500 seater stadium, playing football in the Premier League, with the help of McNally and without investment, would these idiots forgive and forget?

[First Wizard 0]

[quote user="John"][quote user="First Wizard"]

[quote user="Jin"]Wow, not sure I want to be thinking about her untimely demise - hopefully she''ll be here at the club and live on for a good number of years yet!
It''s good that people realise her input though - it would be a weird feeling without her and MJW around. Interesting thing about the catering revenue too at the AGM - making more money from that than most Prem clubs. Must be good pies!;)
[/quote]

 

I won''t shy away from this, it''ll cost us a fortune, from saving the club to destroying it in one easy lesson?

 

Jeez, when will you dim wits wake up?

[/quote]

Please elaborate Wiz. I''m up for a laugh.
[/quote]

 

OK John.

 

When the cook croaks, how much cash does the club pay back to her next of kin, ands likewise her shares, who gets them?

 

I don''t know, do you?

 

But we will have a payoff for her loans to us, they were not gifts!

[First Wizard 0]

[quote user="city till i die"]dont worry wiz!! you could pop it well before hrh delia and michael goes!![/quote]

 

Not a chance, the thought of lasting longer than her keeps me going.

[First Wizard 0]

[quote user="LeJuge"]If Wiz had his way Delia would have sold out to Giovanni Di Stefano when he tried again in 2007. Then he could have bankrupted us like he has two other clubs and Wiz could return to his first love, Ipswich Town.

Delia is making amends with the help of the new board. If we were to end up debt free and with a 35,500 seater stadium, playing football in the Premier League, with the help of McNally and without investment, would these idiots forgive and forget?


[/quote]

 

You really know jack all about me do you?[|-)]

[paul moy 235]

If we get into the Prem for just one season and pick up the reported 90 million, I some how don''t think that our debts will be a showstopper

[Wings of a Sparrow 1,425]

   Oh Dear Wiz. Haven''t you noticed, Her Majesty is still at the club and we are doing rather well at the moment.

[First Wizard 0]

[quote user="Wings of a sparrow"]

   Oh Dear Wiz. Haven''t you noticed, Her Majesty is still at the club and we are doing rather well at the moment.

[/quote]

 

Yes, she got lucky Wings, lucky in that PL is top top manager.

[First Wizard 0]

[quote user="paul moy"]If we get into the Prem for just one season and pick up the reported 90 million, I some how don''t think that our debts will be a showstopper[/quote]

 

That is true Paul.

[PurpleCanary 5,580]

[quote user="Felixfan"]

Thiking about last nights AGM I was struck by the massive contribution "brand Delia" makes to the club and whether this could continue post Delia.

In similar vein we do not know who would inherit the majority shareholding ie .ownership of the club in the event of Delia and Michaels joint demise.Not sure that we are entitled to know but we do know they have no children so their wills could be of concern to us all, and it also raises the question of loan repayments which may be triggered by death.

Anybody have any ideas on this?

[/quote]

-

The normal procedure is for companies to have to try to renegotiate their bank debt (which is the lion''s share with us) if there is a change of ownership for whatever reason. One has to assume that is the case with our bank debt.

 

Additionally, the £2.5m owed to the Turners  becomes repayable if Smith and Jones are no longer owners. The situation with the £1.4m owed to Foulger is more complicated (it depends on whether we''ve already paid off certain bank debt) but that too might become repayable.

 

As to the £2.1m owed to S&J, that is a moot point.

 

[king canary 7,668]

[quote user="First Wizard"][quote user="John"][quote user="First Wizard"]

[quote user="Jin"]Wow, not sure I want to be thinking about her untimely demise - hopefully she''ll be here at the club and live on for a good number of years yet!It''s good that people realise her input though - it would be a weird feeling without her and MJW around. Interesting thing about the catering revenue too at the AGM - making more money from that than most Prem clubs. Must be good pies!;)[/quote]

 

I won''t shy away from this, it''ll cost us a fortune, from saving the club to destroying it in one easy lesson?

 

Jeez, when will you dim wits wake up?

[/quote]Please elaborate Wiz. I''m up for a laugh.[/quote]

 

OK John.

 

When the cook croaks, how much cash does the club pay back to her next of kin, ands likewise her shares, who gets them?

 

I don''t know, do you?

 

But we will have a payoff for her loans to us, they were not gifts!

[/quote]Well her loans amount to £2.1m the rest is converted into shares which I imagine go to the next of kin who could either keep them or sell them. I may be wrong. Also I would not be surprised if in their old age they decide to write off the loans, as many football owners have done in the past.