The EWM Thread

  • whytakemypostcode
  • Offline
  • Reserve Squad
  • Reserve Squad
More
26 Oct 2017 11:54 #701 by whytakemypostcode
Replied by whytakemypostcode on topic The EWM Thread
Apathy rules, crowds low, poor league position, no prospect of change, expensive, worthless dump of a stadium, Jenkins turned off the taps, we have no pot to pee in - so what happens when they realise the money will run out quickly?!

Please Log in or Create an account to join the conversation.

More
26 Oct 2017 13:15 #702 by NORTHERNSOUL
Replied by NORTHERNSOUL on topic The EWM Thread

whytakemypostcode wrote: Apathy rules, crowds low, poor league position, no prospect of change, expensive, worthless dump of a stadium, Jenkins turned off the taps, we have no pot to pee in - so what happens when they realise the money will run out quickly?!


Well as you might expect i.ve been taking a keen interest in this and my conclusion based on comments from Nixon [ on the phone in ] Clibbins and a Trust answer to a question i asked them is that Jenkins and co think they have a plan [ now whether that involves EWM as any more than as a sponsor and money lender of last resort ] but god knows what it is and why they're insisting on it being such a secret but i.d say the statement that went something like " were not actively seeking any further investment at this point " seems to indicate the above. Now surely if they didn't have what they consider a viable plan that statement would have been something like " were quite happy with the current situation but as always and like most clubs were always interested to hear from anyone with any specific financial proposals ". But surely at some point within the next six months they're going to have to say something even if its just " our friends at EWM have written off what we owed them and have reset the ongoing revolving credit facility back to its original 1 million pounds " which you have to presume would postpone the day of reckoning for another 12 months.

Please Log in or Create an account to join the conversation.

More
26 Oct 2017 13:36 - 26 Oct 2017 13:38 #703 by Mullen103
Replied by Mullen103 on topic The EWM Thread
I take a slightly different view NS. The questions been asked by many with the answer that they don't expect the loan facility to be maxed out for the foreseeable future.

How long foreseeable future is and what the plan is, if it hits no one knows. The restructure is just a restructure it doesn't bring any money into the club.

Now it could be bollocks but on the grapevine, i heard whispers that EWM expected to take over because they expected the club to go into administration. I'm thinking it might not be too far of the mark because its what Day(EWM) do pickup companies, names, for next to nothing and bring them back up. Maybe EWM got wind of the CCj's and HMRC debt to why they thought that admin was an option, but these I believe are payed off.

The FA cup and chuckup trophy I think are important to how this regime carries on.

At least we’re not Stockport
Last edit: 26 Oct 2017 13:38 by Mullen103.

Please Log in or Create an account to join the conversation.

More
26 Oct 2017 13:52 #704 by Urban Designer
Replied by Urban Designer on topic The EWM Thread
IF EWM wantted them to go into administration why did they leand the money in the first place? The Stadium?

Heres another question - if we do getted knocked out the FA Cup by Oldham who seem to be on good form. Should we take the trophy seriously?

Please Log in or Create an account to join the conversation.

More
26 Oct 2017 13:55 #705 by Mullen103
Replied by Mullen103 on topic The EWM Thread

Urban Designer wrote: IF EWM wantted them to go into administration why did they leand the money in the first place? The Stadium?

Probably so they get 1st dibs. so many questions still no idea.

Heres another question - if we do getted knocked out the FA Cup by Oldham who seem to be on good form. Should we take the trophy seriously?


Supporters may not like the club, but there'll have to.

At least we’re not Stockport

Please Log in or Create an account to join the conversation.

More
26 Oct 2017 14:42 #706 by NORTHERNSOUL
Replied by NORTHERNSOUL on topic The EWM Thread

Mullen103 wrote: I take a slightly different view NS. The questions been asked by many with the answer that they don't expect the loan facility to be maxed out for the foreseeable future.

How long foreseeable future is and what the plan is, if it hits no one knows. The restructure is just a restructure it doesn't bring any money into the club.

Now it could be bollocks but on the grapevine, i heard whispers that EWM expected to take over because they expected the club to go into administration. I'm thinking it might not be too far of the mark because its what Day(EWM) do pickup companies, names, for next to nothing and bring them back up. Maybe EWM got wind of the CCj's and HMRC debt to why they thought that admin was an option, but these I believe are payed off.

The FA cup and chuckup trophy I think are important to how this regime carries on.


In that case why put the million quid into the black hole and risk the shit [ and the 12 point deduction] that administration brings when i.d be pretty sure a million quid paid straight to Jenkins would ensure he delivered you the club [ or at least 74.6% of it [ on a plate if he thought you were his acceptable option. Unless of course your administration Theory is simply to remove the Trust from the equation but if that's the case why are they going along with it and not shouting from the rooftops .

I sort of explained the current situation to someone whos a bit of an expert on clubs changing hands and he put forward an interesting theory as to what EWM could be up to which revolves around the statement from Jenkins that he would write off pound for pound what somebody else put in so if you assume a chunk of what the EWM million has been used for is to pay off a lot of the accrued extra 850k of debt [ it hasnt been spent on the team so you could well argue that must the case ] So if EWM were to write off their Million on condition Jenkins did the same and if Jenkins then agreed to convert whats left of Pioneers debt into a long-term sponsorship deal then they would do the same for an equal amount we would end up with a club free of debt and able to move forward in a better way.

Quite clearly this would revolve around what happens to the shares in the current holding company and would i imagine needing Nixon and Pattison to agree to relinquish theirs for not much more than they paid for them and acquiring them would give EWM a commercially acceptable reason for writing off the million quid they lent the club.

Then the big Question is Why would Day want to get involved at all ? and that my friends brings us back to what is in fact the million pound question.

Please Log in or Create an account to join the conversation.

More
26 Oct 2017 19:38 - 26 Oct 2017 19:40 #707 by DeckchairBlue
Replied by DeckchairBlue on topic The EWM Thread

Mullen103 wrote: I take a slightly different view NS. The questions been asked by many with the answer that they don't expect the loan facility to be maxed out for the foreseeable future.

How long foreseeable future is and what the plan is, if it hits no one knows. The restructure is just a restructure it doesn't bring any money into the club.

Now it could be bollocks but on the grapevine, i heard whispers that EWM expected to take over because they expected the club to go into administration. I'm thinking it might not be too far of the mark because its what Day(EWM) do pickup companies, names, for next to nothing and bring them back up. Maybe EWM got wind of the CCj's and HMRC debt to why they thought that admin was an option, but these I believe are payed off.

The FA cup and chuckup trophy I think are important to how this regime carries on.


Problem with that theory is that we aren't a "name" like the other companies EWM have taken over and revamped back to profit making, we are a lower league football club.

So it's totally different from taking over an ailing clothing retailer, turning them round reaping the rewards.
Last edit: 26 Oct 2017 19:40 by DeckchairBlue.

Please Log in or Create an account to join the conversation.

More
26 Oct 2017 19:38 - 26 Oct 2017 19:39 #708 by DeckchairBlue
Replied by DeckchairBlue on topic The EWM Thread
Double post
Last edit: 26 Oct 2017 19:39 by DeckchairBlue.

Please Log in or Create an account to join the conversation.

More
26 Oct 2017 20:28 #709 by munchymagic
Replied by munchymagic on topic The EWM Thread
The way I see it is that EWM don't want to take over at all because of the implications involved and Philip Day doesn't want the hassle, he would step in I reckon if it was going to the wall perhaps but like has already been said, there is a 300k per season shortfall and he is just happy to plug that and let the status quo continue.

No chance of any feelgood factors to come in to whet your appetite folks regarding behind the scenes action I don't imagine so best to just get behind Keith and the boys for our promotion push.
The following user(s) Liked this post:: Gannadan

Please Log in or Create an account to join the conversation.

More
29 Oct 2017 16:52 #710 by shaldon1
Replied by shaldon1 on topic The EWM Thread
The fact that this loan is from Sam and not Day personally and the security of the stadium would signify to me that
they are intending to takeover at some point.I can only think they must have plans for the development of the stadium or
the land.However, any development would have to be subject to flood schemes being carried out.Obviously EWM know something
we do not know.

Please Log in or Create an account to join the conversation.

  • Laffy
  • Topic Author
  • Offline
  • Team Captain
  • Team Captain
More
29 Oct 2017 17:00 #711 by Laffy
Replied by Laffy on topic The EWM Thread
Wouldn’t it be amazing if the Club/Trust stated what the ‘long term relationship’ means Shaldon.I think it’s just a loan to bale them out of the cash flow hole they got into earlier this year with a bit of spin attached.

The 2017 Accounts will of course reveal all via the cashflow statement therein-when filed next March.Hopefully they will also detail the terms of the loan too-another mystery.

The other revealing part of the Accounts will be the auditors statement-another Emphasis Of Matter me thinks and someone will need to sign off the cashflow to support-will it be AJ or EWM?

Please Log in or Create an account to join the conversation.

More
29 Oct 2017 17:48 #712 by NORTHERNSOUL
Replied by NORTHERNSOUL on topic The EWM Thread

shaldon1 wrote: The fact that this loan is from Sam and not Day personally and the security of the stadium would signify to me that
they are intending to takeover at some point.I can only think they must have plans for the development of the stadium or
the land.However, any development would have to be subject to flood schemes being carried out.Obviously EWM know something
we do not know.


I Wouldnt lend Jenkins ten quid without security so no the charge on the ground means nothing of the sort

Also, i believe it helps when you try to persuade HMRC to let you write it off as irrecoverable debt

Please Log in or Create an account to join the conversation.

More
09 Dec 2017 17:54 - 09 Dec 2017 17:57 #713 by Armo
Replied by Armo on topic The EWM Thread
So, according to Lummy two minutes ago, DSD were told they couldn't sponsor the club because PD had taken over and was the new owner.

Guess that was in the summer so what's going on?
Last edit: 09 Dec 2017 17:57 by Armo. Reason: stealth spelling

Please Log in or Create an account to join the conversation.

More
09 Dec 2017 18:02 - 09 Dec 2017 18:03 #714 by Kangshung
Replied by Kangshung on topic The EWM Thread

Armo wrote: So, according to Lummy two minutes ago, DSD were told they couldn't sponsor the club because PD had taken over and was the new owner.

Guess that was in the summer so what's going on?


Possibly crossed wires - 'EWM have taken over', meaning 'taken over shirt sponsorship' as opposed to 'taken over the club'?
Last edit: 09 Dec 2017 18:03 by Kangshung.

Please Log in or Create an account to join the conversation.

More
09 Dec 2017 18:04 #715 by Mullen103
Replied by Mullen103 on topic The EWM Thread
I think at that time Armo a takeover was on the cards. I know some of PDs staff were on the case and I believe end of June was the date.

I just think he had enough and has now felt he’s done enough, which now appears to be more damage.

At least we’re not Stockport

Please Log in or Create an account to join the conversation.

More
09 Dec 2017 18:05 #716 by upperbyblue
Replied by upperbyblue on topic The EWM Thread
Lummy fairly let rip there ,about time one of them said what everybody was thinking ,surely the end is nigh? End of the season surely the time somethings gonna happen .heres hoping

Please Log in or Create an account to join the conversation.

More
09 Dec 2017 18:27 #717 by NORTHERNSOUL
Replied by NORTHERNSOUL on topic The EWM Thread

Kangshung wrote:

Armo wrote: So, according to Lummy two minutes ago, DSD were told they couldn't sponsor the club because PD had taken over and was the new owner.

Guess that was in the summer so what's going on?


Possibly crossed wires - 'EWM have taken over', meaning 'taken over shirt sponsorship' as opposed to 'taken over the club'?


Lummy said that earlier in the season and i.m sure it was pretty much agreed that thats what was meant.

Please Log in or Create an account to join the conversation.

More
09 Dec 2017 18:41 #718 by bruntonpete
Replied by bruntonpete on topic The EWM Thread
Is it available to listen to?

Please Log in or Create an account to join the conversation.

More
09 Dec 2017 19:07 #719 by NORTHERNSOUL
Replied by NORTHERNSOUL on topic The EWM Thread

bruntonpete wrote: Is it available to listen to?


Yes on listen again from about 5.40pm.

Please Log in or Create an account to join the conversation.

More
09 Dec 2017 20:13 #720 by Armo
Replied by Armo on topic The EWM Thread

NORTHERNSOUL wrote: Lummy said that earlier in the season and i.m sure it was pretty much agreed that thats what was meant.


Deffo not, he said "Philip Day has taken the reigns, he's now the owner and has taken over"

www.bbc.co.uk/programmes/p05n3dsp#play - 51.26 mark.
The following user(s) Liked this post:: Mullen103

Please Log in or Create an account to join the conversation.

More
25 Jan 2018 15:25 - 25 Jan 2018 15:28 #721 by griff
Replied by griff on topic The EWM Thread
Nothing to see here, all is fine, move along please.
Last edit: 25 Jan 2018 15:28 by griff.

Please Log in or Create an account to join the conversation.

More
25 Jan 2018 15:32 #722 by markredfox73
Replied by markredfox73 on topic The EWM Thread
Whats crack?

Sent from my SM-J320FN using Tapatalk

Please Log in or Create an account to join the conversation.

More
25 Jan 2018 15:35 #723 by griff
Replied by griff on topic The EWM Thread
No, no, no nothing. Move along the bus.

Please Log in or Create an account to join the conversation.

More
25 Jan 2018 15:38 #724 by griff
Replied by griff on topic The EWM Thread
Right, as we were...

Haven't we been looking at this all wrong? The EWM charge is believed to be a charge solely on Brunton Park. It is actually a charge on all the assets of 1921 including money in bank accounts and money owed to the company by debtors. All that is owned by 1921 and all that it has any prospect of owning is covered by the charge.

For proof of this assertion read clause 3.3 in this Registration Of A Charge document from Companies House :- tinyurl.com/EWM-Charge-On-1921

In all these discussions, prooof is what's needed, not what somebody thinks or what's saId down the pub.

Please Log in or Create an account to join the conversation.

  • Laffy
  • Topic Author
  • Offline
  • Team Captain
  • Team Captain
More
25 Jan 2018 15:58 #725 by Laffy
Replied by Laffy on topic The EWM Thread
It’s no different to a bank debenture in reality-it’s a bank type loan and structure.

The issue is what the loan Agreement says on duration,covenants,parameters etc.That is the bit that hasn’t been disclosed yet-the Accounts may provide more info when filed.

Please Log in or Create an account to join the conversation.

More
25 Jan 2018 16:38 #726 by Mullen103
Replied by Mullen103 on topic The EWM Thread

griff wrote: Right, as we were...

Haven't we been looking at this all wrong? The EWM charge is believed to be a charge solely on Brunton Park. It is actually a charge on all the assets of 1921 including money in bank accounts and money owed to the company by debtors. All that is owned by 1921 and all that it has any prospect of owning is covered by the charge.

For proof of this assertion read clause 3.3 in this Registration Of A Charge document from Companies House :- tinyurl.com/EWM-Charge-On-1921

In all these discussions, prooof is what's needed, not what somebody thinks or what's saId down the pub.


You’ve had the same email as me griff, hence the last paragraph. I never had access to the document though.

The funny thing is I got told about the charge details from ‘someone’ at the time I was told EWM were taking over. Didn’t come to fruition but seems an odd thing to do if there’s no takeover at the end of it.

Also proves the fact that EWM are really running the show, no takeover no but they have control over money assets etc. Just what’s the point of our 3 owners now.

At least we’re not Stockport

Please Log in or Create an account to join the conversation.

More
25 Jan 2018 16:41 #727 by griff
Replied by griff on topic The EWM Thread
They're well in control even while they stay very, very quiet because there's fat chance of their "loan" being paid back any day soon.

The link may not work; try this one: tinyurl.com/EWM-Charge-On-Assets-Of-1921

Please Log in or Create an account to join the conversation.

More
25 Jan 2018 16:47 #728 by Mullen103
Replied by Mullen103 on topic The EWM Thread

griff wrote: They're well in control even while they stay very, very quiet because there's fat chance of their "loan" being paid back any day soon.

The link may not work; try this one: tinyurl.com/EWM-Charge-On-Assets-Of-1921


I’ve been saying this all along but no one listens.

What I don’t get griff is why are EWM happy with the situation, surely to god get own successful staff in or is it as we thought he maybe wanted to do a full takeover but had second thought with the hassle etc, so is happy doing his bit for the community with stringent strings attached.

At least we’re not Stockport

Please Log in or Create an account to join the conversation.

More
25 Jan 2018 16:53 #729 by munchymagic
Replied by munchymagic on topic The EWM Thread

griff wrote: They're well in control even while they stay very, very quiet because there's fat chance of their "loan" being paid back any day soon.

The link may not work; try this one: tinyurl.com/EWM-Charge-On-Assets-Of-1921


Like I said the other day, even the involvement of EWM has made it harder to purchase the club now with someone else to negotiate with and unravel the said agreement that nobody is aware of the finer details.

You would have to love the club to try and purchase it now as the time needed and even Nixon saying he doesn't want anything will turn back into 200k, the cost could get very high and with the ground being so old and prone to flooding then a normal investor would get better value elsewhere.

Even if it got near a completion date then Jenkins would probably get cold feet and pull out of the deal, calling you a charlatan into the process.

Please Log in or Create an account to join the conversation.

More
25 Jan 2018 17:09 #730 by Yorkie Blue
Replied by Yorkie Blue on topic The EWM Thread
So if EWM seem to be holding / pulling the strings, are our 3 puppets just a front to take all the sh*t ?

Stay safe, stay healthy all.

Please Log in or Create an account to join the conversation.

  • Laffy
  • Topic Author
  • Offline
  • Team Captain
  • Team Captain
More
25 Jan 2018 17:15 #731 by Laffy
Replied by Laffy on topic The EWM Thread
I think PD was just bailing them out and didn’t want to see it all blown down at Labrokes/transfer window.He’s done his bit to help.

Please Log in or Create an account to join the conversation.

More
25 Jan 2018 17:19 #732 by Mullen103
Replied by Mullen103 on topic The EWM Thread

Laffy wrote: I think PD was just bailing them out and didn’t want to see it all blown down at Labrokes/transfer window.He’s done his bit to help.


I agree sort off but why not take control and get own people in themselves, then he knows exactly where it’s going.

Have you seen this type of arrangement at other clubs?

At least we’re not Stockport

Please Log in or Create an account to join the conversation.

  • Laffy
  • Topic Author
  • Offline
  • Team Captain
  • Team Captain
More
25 Jan 2018 17:26 #733 by Laffy
Replied by Laffy on topic The EWM Thread
Lots of clubs borrow money-this is no different.PD is the bank as no other bank would touch this without PGs.

It does allow the directors to sign off the audit without exposing their backsides-Hence the timing of the loan last March just before the accounts were signed off.

Just my view.The Club should stand on its on feet in an ideal world but it can’t for all the reasons we know-some self inflicted,most because it’s football.

Please Log in or Create an account to join the conversation.

More
25 Jan 2018 19:14 #734 by NORTHERNSOUL
Replied by NORTHERNSOUL on topic The EWM Thread
Well all this starts because some spineless clown sends out a few e.mails puts his name on them and says where he claims to work

But funnily enough, when you ring the said company and ask to speak to someone of that name youre informed that they dont have a +_7 working there a fact which 20minutes later is confirmed by the company's managing director.

Says he sent the information to RC and ENS and says they will be investigating Well what the [censored] is there to investigate ?

In future if you get sight of any documents you think people should see dont piss about just get them scanned in stuck online and links posted here there and everwhereand let us make our own minds up.

Please Log in or Create an account to join the conversation.

More
25 Jan 2018 21:01 #735 by Dazwacky
Replied by Dazwacky on topic The EWM Thread
Laffy its seems obvious PD has no interest in Carlisle he is just keeping them ticking over and holds all the aces!! But just saying if Carlisle was to get in the position of Hartlepool would PD let that happen?? thoughts please?

Please Log in or Create an account to join the conversation.

  • Laffy
  • Topic Author
  • Offline
  • Team Captain
  • Team Captain
More
26 Jan 2018 07:52 #736 by Laffy
Replied by Laffy on topic The EWM Thread
I’m only guessing but nobody wants a car crash-and PD will be no different.

I think the current convoluted share/loan structure makes it impossible for any new guy to inject money unless PD instigates a restructure-and as you say he holds the aces.No disrespect to JN and SP but they aren’t loaded-less wealthy than me I suspect and I don’t have a pot to piss in.That leaves AJ who I have heard is more or less at his limit-and fair enough to him given he has lost £2m.

I rather like the idea of an EWM/Council led stadium but that will take 5 years to execute entirely.

What happens next?I have no idea but maybe the focus just now should be on the pitch.

Please Log in or Create an account to join the conversation.

More
26 Jan 2018 14:29 #737 by Mullen103
Replied by Mullen103 on topic The EWM Thread

NORTHERNSOUL wrote: Well all this starts because some spineless clown sends out a few e.mails puts his name on them and says where he claims to work

But funnily enough, when you ring the said company and ask to speak to someone of that name youre informed that they dont have a +_7 working there a fact which 20minutes later is confirmed by the company's managing director.

Says he sent the information to RC and ENS and says they will be investigating Well what the [censored] is there to investigate ?

In future if you get sight of any documents you think people should see dont piss about just get them scanned in stuck online and links posted here there and everwhereand let us make our own minds up.


I agree!

If you’ve got a document or something post it anonymously, don’t fire off stupid emails in some cases pretending to be someone else, we know what happened last time with that.

At least we’re not Stockport

Please Log in or Create an account to join the conversation.

More
09 Mar 2018 21:15 #738 by foggieraider13
Replied by foggieraider13 on topic The EWM Thread
I may be wrong here, and happy to be corrected, but Nigel Clibbens (NC) always states that the club are no worse off in owing money to EWM rather than Andrew Jenkins (AJ)? From what I can see where monies were owed to AJ these were owed without any of the clubs assets being pledged to AJ or Pioneer as security for the monies owed. EWM have a charge over Brunton Park and land at Warwick Road. Surely club IS strictly speaking worse off in having to pledge Security for the monies they borrow from EWM?

Another query I have is about the Charge dated 15th March 2017 to EWM in that it is not only a Fixed Charge but also a Floating Charge. Clause 3.6 states "and all other property, assets ......". Does this mean in theory EWM has a charge over all of the playing staff?

Accounts to 31 May 2017 are due by 31 March 2018. Hopefully the C.U.F.C Holdings Limited and Carlisle United Association Football Club (1921) Limited Accounts will not have the same comments about their ability to continue as a going concern as were stated in the 2016 Accounts for both.

Please Log in or Create an account to join the conversation.

More
09 Mar 2018 21:35 - 09 Mar 2018 21:37 #739 by carwash
Replied by carwash on topic The EWM Thread
I can almost guarantee that the accounts will have an almost identical 'emphasis of matter' regarding going concern. Net current liabilities will still exceed current assets and the p&l reserve balance will still be negative. Nothing has fundamentally changed.

The accounting year end is actually 30th June 2017 but you're right the accounts have to be filed by the end of the month.
Last edit: 09 Mar 2018 21:37 by carwash.

Please Log in or Create an account to join the conversation.

More
09 Mar 2018 21:54 #740 by munchymagic
Replied by munchymagic on topic The EWM Thread
Jenkins is old school and is probably furious that fans want to know the ins and outs of a football club as it is none of our business as he has already shown.

This is called engaging with fans and I reckon that as Jenkins does not want to spend then the best thing is disguise and bluster and he has employed the right man for that in Clibbens.

There is no need for this division between fans and board - MRF made his point clear to them and have they bothered to try to build bridges and invite him in for a chat, I doubt it.

The recent signings will probably be our lynch pins with bin men from the Perthshire area making up the squad.

Please Log in or Create an account to join the conversation.

More
09 Mar 2018 22:11 #741 by markredfox73
Replied by markredfox73 on topic The EWM Thread
No ive ever had any response from them since that day..

Sent from my SM-J320FN using Tapatalk

Please Log in or Create an account to join the conversation.

More
09 Mar 2018 22:18 #742 by munchymagic
Replied by munchymagic on topic The EWM Thread

markredfox73 wrote: No ive ever had any response from them since that day..

Sent from my SM-J320FN using Tapatalk


Just goes to show that they don't listen, probably they didn't ask you down because they couldn't justify the answers to your questions.

Please Log in or Create an account to join the conversation.

More
09 Mar 2018 22:26 #743 by Tom
Replied by Tom on topic The EWM Thread
What were the questions?

Please Log in or Create an account to join the conversation.

More
09 Mar 2018 22:26 #744 by Mullen103
Replied by Mullen103 on topic The EWM Thread

munchymagic wrote:

markredfox73 wrote: No ive ever had any response from them since that day..

Sent from my SM-J320FN using Tapatalk


Just goes to show that they don't listen, probably they didn't ask you down because they couldn't justify the answers to your questions.


That’s the problem I have with our owners there sneaky, would rather contact my work rather than speak to me and when I met them they told me to tell Mark(MRF)he’s welcome to meet them.

Snakes, don’t do the ‘dirty’ work themselves. Have some ducking balls.

At least we’re not Stockport

Please Log in or Create an account to join the conversation.

More
09 Mar 2018 22:52 #745 by Mush
Replied by Mush on topic The EWM Thread
Are ducking balls a delicacy?..
The following user(s) Liked this post:: Mullen103, markredfox73

Please Log in or Create an account to join the conversation.

More
10 Mar 2018 00:53 #746 by Dancingbear
Replied by Dancingbear on topic The EWM Thread
Depends where you duck them.

There's only one way of life and that's your own!!!

Please Log in or Create an account to join the conversation.

  • Laffy
  • Topic Author
  • Offline
  • Team Captain
  • Team Captain
More
10 Mar 2018 07:50 #747 by Laffy
Replied by Laffy on topic The EWM Thread
I agree with carwash though EWM have adopted a belt and braces approach which gives them first ranking security like a bank.

It gives them a final say in how the Club is financed as well-a more commercial way of controlling things than the blunt instrument that is the Trust block.

The 2017 Accounts will not be pretty-and that it’s now 9 months since the year end,largely irrelevant as it’s ....9 months on.Sending in a set of Accounts at the last minute is usually a sign of ugly numbers.We might get more detail on the EWM Facility,rate,longevity etc-something both parties have been reluctant to divulge.

Please Log in or Create an account to join the conversation.

More
10 Mar 2018 08:31 #748 by carwash
Replied by carwash on topic The EWM Thread
Getting back to the original question, from the Club's point of view they are no worse off owing money to EWM rather than AJ. Irrespective of the charge the Club owes money which is expected to be repaid. As Laffy says EWM are in a strong position vis a vis all other creditors. A floating charge covers all assets that are potentially saleable including intangible assets such as players' registrations, trademarks, copyrights etc. However until the charge is crystallised on a receiver/administrator being appointed it just floats in the ether and doesn't affect anything day-to-day. It's just a mechanism to put EWM in pole position for getting their hands on anything with monetary value should the worst happen.

We all expect EWM to behave completely responsibly so in the real world it's not a worry. There is at least one League 2 Club in a much worse situation with uglier parent company accounts.

Please Log in or Create an account to join the conversation.

  • Laffy
  • Topic Author
  • Offline
  • Team Captain
  • Team Captain
More
10 Mar 2018 08:52 #749 by Laffy
Replied by Laffy on topic The EWM Thread
Agreed and the old saying ‘ I need to eat lunch in Carlisle’ is very apt.EWM have control over their Facility and how spent-I take some comfort in that.

It may put off suitors as it’s just another entity to deal with/persuade to write off however.

So the balance sheet is negative but I’m thd practical sense,relatively stable until they run out of cash again-hence my interest is in the cashflow statements in the accounts which will be ugly

Please Log in or Create an account to join the conversation.

More
10 Mar 2018 10:09 #750 by Markovitch
Replied by Markovitch on topic The EWM Thread
You can't take security over playing staff, FA rules don't allow it

Please Log in or Create an account to join the conversation.

Time to create page: 0.504 seconds
Website and all content © Copyright 2020 TheCumbrians.net. All Rights Reserved.