The EWM Thread

Looks like they have made a loan to the 1921 company-registered at Companies House.

Laffy wrote: Looks like they have made a loan to the 1921 company-registered at Companies House.

That's it! Phillip Day is about to get on to the top table!

I can't see any downside to his involvement-he is very smart and will be an asset no doubt

He was on the board some time ago. I hope he does have involvement, we need it!

Well it looks like they have taken security over the ground so will be a loan I guess.

Sounds good news. Phil Day is good friends with local businessman Kevin Dobinson from Carlisle Scaffolding. Kevin is the chairman of Warwick wanderers and is a football man through and through and I'm sure these kind of men investing would be perfect for the club.

Forgive my ignorance in such matters, but is taking another loan (not investment) not just putting us deeper in the s***? Of course it seems this is all speculative until we know the detail and in past performance, I'm not holding my breath on that one.

Cough cough like I said he was interested.

Surprised he invested though(loan) with the current lot after what happened last time, but its a foot well and truly in the door and the type of people we need in the club.

A bit of a kick in the teeth for those people that say the club will die without AJ!

Actually Mullen, you said Day told Jenkins to, 'F off'.

Ashlea wrote: Actually Mullen, you said Day told Jenkins to, 'F off'.

Correct and that's what he said November/December time.

So this payment must of been made recently, i'd say after the "billionaire" fiasco came to an end. It will be interesting to see how it progresses and i'm sure Day has got something out of this, he isn't daft.

CCU wrote: Were CUOSC aware and/or consulted?

If its AJ they wouldn't need to but as its a new person/company i'd presume they'd have too.

Anyway i predict that Philip Day will have the club shortly!

If they was to be a hostile takeover then this means AJ has no means of securing the loans now for himself and pioneers.

If the budget is set on the previous years average crowds which in 15/16 was 4,838 then why do we need a loan when this seasons average is 5,189?

Is this the time the horsemen are on their way... im off to lidl to buy some cheap plonk....

Chipper is not in the money league needed to buy a football club.
Would make an ideal partner in a Laffy style consortium of investors.

How much is the loan or is it not disclosed yet?

No news on the amount but it suggests in the news that it must be substantial as a charge over the ground has also been made.
Let's hope that he is willing to invest and hopefully replace AJ, JN & SP.
I am sure he would attract more investment too, both locally and nationally.

22nd before you can read on-line

beta.companieshouse.gov.uk/company/00175280/filing-history

Is this not likely to be the emergency funds requirement Laffy referred to, as opposed to takeover money.

Whether it's emergency funding or not-I think it probably is much needed given recent crowds etc, this has to be good news.It also must be material for it to warrant a mortgage over the stadium,our only real asset other than the FL licence.

The fact it's a loan again emphasises the point about the capital structure of the Club.It also begs the question of how it can be paid back as loans to football clubs usually get written off.

I think this is a very positive step so I'm not fussed about the reasons behind it.

Would the trust not have to be agreeable to a loan from a outside agency that includes a charge on the ground? Is that not the very thing they're supposed to protect?

May be putting two and two together to make five but maybe they already are and have?

There has been recent talk from AJ and others about restructuring and cementing the trust place on the holdings board and this is followed by investment from a new third party - albeit in the form of a loan.

Then as if by magic the shopkeeper appears.

All will be out when the trust briefs its members shortly no doubt...

I think it would be inconceivable for the Trust not to be involved in this but legally I think it's something the Board of 1921 would sanction in conjunction with the stakeholders.The terms will be disclosed in the annual accounts no doubt.

Again,I think this new turn of events is good news for the future though a bit surprised it's not been announced before it appeared at Companies House.

Recent crowds are still higher than the break even from the year before though. How the hell can Stevenage do fine on half our crowds! We are ranked 6th in the average attendances - if they struggling commercially what is Phil King actually doing?

call me a cynic but that is why is was probably announced the trust board position at last.

Dancingbear wrote: Would the trust not have to be agreeable to a loan from a outside agency that includes a charge on the ground? Is that not the very thing they're supposed to protect?

You'd of thought something like that would of gone to the trust.

There's 2 scenarios either the trust don't know about it, which is unlikely, or the 1921 rep has ok'd it without going to the members.

An excellent question. We do have a lovely board on the Warwick roof advertising Newcastle Airport. Other than that answers on a postcard please.

An empty beer tent in December, a childrens play area, some more crap larger on the pumps and a plea for fresh ideas as far as I can see.The company accounts come out by March 31st?

Even if this guy gave us ten million, what use is it until the end of the season - couldn't he have gave us it in January?

Just saying like

Must be missing something here - how is it good news that we are borrowing more money with no sign of any discernible change, especially to the money owed to Jenkins and Pioneer?
Just seems to be pushing things further down the track.
I suppose we will have to see the conditions and associated changes to the set up.
Part of Trust share going to PD anyone?

From Jon Colman's twitter:

CUFC: "We can confirm that we are extending our partnership with one of our long-standing and valued commercial sponsors - EWM".

With the word commercial in there, I think it's clear that this is down to Phil King and he's finally earning his £135k salary*.

*of course this number is completely made up, but that's what we do on here

Bollocks. Just spent my season ticket savings on a new laptop.

sirjimmyglass wrote: From Jon Colman's twitter:

CUFC: "We can confirm that we are extending our partnership with one of our long-standing and valued commercial sponsors - EWM".

With the word commercial in there, I think it's clear that this is down to Phil King and he's finally earning his £135k salary*.

*of course this number is completely made up, but that's what we do on here

How is getting someone to loan us money earning his salary?

Laffy wrote: I think it would be inconceivable for the Trust not to be involved in this but legally I think it's something the Board of 1921 would sanction in conjunction with the stakeholders.The terms will be disclosed in the annual accounts no doubt.

Again,I think this new turn of events is good news for the future though a bit surprised it's not been announced before it appeared at Companies House.

Aye, it's unlike them to be secretive.

Don't understand why we would actually need the money at this stage of the season when we have obviously budgeted for paying the players till the end of the season, we cannot bring in anyone else and on top of this we have the Wyke money sitting around?

Will be interesting to know the amount and the reason why it was loaned to us.

That's why I think they need the cash-win bonuses, lower crowds,flood related stuff,additional exec overhead.Would soon add up

Laffy wrote: That's why I think they need the cash-win bonuses, lower crowds,flood related stuff,additional exec overhead.Would soon add up

Well there have been very few win bonuses paid this year and only a couple of clean sheet bonuses, we can slate Keith for spending his budget on fewer players but when he is allowed to bring the players in it cannot be his fault for ensuring that the money is there to pay them and the travelling expenses for games.

The worrying thing is there is now somebody else that we owe money to, paying him back further down the line will obviously impact on the playing budget in the future.

munchymagic wrote: Don't understand why we would actually need the money at this stage of the season when we have obviously budgeted for paying the players till the end of the season, we cannot bring in anyone else and on top of this we have the Wyke money sitting around?

Will be interesting to know the amount and the reason why it was loaned to us.

Pay off Curle, Dykes, West, Fearns, Liddle etc and giving Russell Slade the same kind of generous playing budget for next season

Obviously we dont know the size of this loan but are we basically now in the position we were in before Fred Story wrote off his loan?

Am looking forward to next seasons new kit....

maybe a nice navy blue lambs wool v neck with white chevron..

munchymagic wrote: Don't understand why we would actually need the money at this stage of the season when we have obviously budgeted for paying the players till the end of the season, we cannot bring in anyone else and on top of this we have the Wyke money sitting around?

Will be interesting to know the amount and the reason why it was loaned to us.

Munchy, March-April is always the low point of the year for cash until they start receiving the season ticket money for next season. Some people have suggested we only got £75k up front for Wyke. Because EWM have taken a charge on Brunton Park my guess is they have loaned a substantial sum. If I had to guess further I would say about £1.25 million but that would allow the loan from P.F.D (Carlisle) Ltd (in other words Pioneer) to be repaid. At the end of April 2016, I think PFD were owed £850,000. A loan of £1.25 million would remove PFD from the picture and add £400k to the club's cashflow which would also be my estimate of the loss for the season.

This cash injection should be sufficient to sign the accounts off for last year as a going concern and file them before the end of March.

Dancingbear wrote: Obviously we dont know the size of this loan but are we basically now in the position we were in before Fred Story wrote off his loan?

Jenkins is desperate, wouldn't be surprised if we eventually owe to five or six different people in the end.

This is what Jenkins wanted, to be given someone elses cash to waste.

So, If PFD get their coin from this loan, where does AJ get his personal cash from? or is he gonna do the decent thing and waive the debt? This would then allow him to GIVE the shares he got for diddly squat to someone with funds and some business savvy, Bye bye Andrew, Hello Phillip? Could be worse? Where would that leave the other two dubious potless pricks?

But Laffy, the crowds are higher than last season on which the budget was set and we have certainly not increased our playing wagebill since January. Can we assume the loan is to pay for Cibbens wage who was likely hired to troubleshoot and provide a not so believable story and smokescreen about the billionaire? Where has the cup money and transfer money gone which was not used in January 2016. None of this adds up! Loans are not an investment - just a tightening straightjacket.

What is the point of securing a loan on an unsalable "asset" and how would that work when the money has been raised from an individual not a financial institution?

Financial wizards please explain

Whatever you think about Mr Day, this prevents the others raising money against the ground to repay themselves like Knighton did. Has Mr Day put this money in place to repay PFD as suggested further up? time will tell, but now there is one club asset that the BOD have less control over, Mr Day has a foot well wedged in the door now it would appear.