Laffy has the inland revenue debt been divulged or can that be hidden?

How can the club lose £500K a year really puzzles me, and why the 3 amigos think it is acceptable.
We have a small squad which has bit us on the arse.
You could rest assure PD would not accept that for long.
So to turn it round either the turnover has to go up (not worked so far) or the outgoings have to come down,which seems far more likely.
Doom and gloom all round.

I assume you mean the tax on the FS loan write-its provided in the 2015 accounts I think

Still no comment from PD/EWM....
Getting a bit like the Billionaire saga!

Thats the plan by the board. Another load of shit to buy them more time. Phil day says this loan is old news .theyre just keeping something there for us to cling on to. The board thinks were all gullible idiots. They make me sick

Thats the plan by the board. Another load of shit to buy them more time. Phil day says this loan is old news .theyre just keeping something there for us to cling on to. The board thinks were all gullible idiots. They make me sick

Yes that coincides exactly with whats being said in other words the money was handed over months ago at the point the repayable not was inserted into the PFD loans and has long gone and the charge being put on the ground was a result of Jenkins going back with the begging bowl well and truly in hand.

To me it seems obvious what's going to happen.

EWM has loaned the club money but put a charge on the ground as they know fine well they aren't going to get any money back under this regime. If we are losing money every season and AJ is not getting any back, you don't have to be Einstein to know a problem.

So either EWM will launch a takeover bid using the charge as a tool in the summer or we will go into admin as the loans can't be paid back.

Either way next season is going to be a hell of a struggle to stay in this league!

Thats the plan by the board. Another load of shit to buy them more time. Phil day says this loan is old news .theyre just keeping something there for us to cling on to. The board thinks were all gullible idiots. They make me sick

Yes that coincides exactly with whats being said in other words the money was handed over months ago at the point the repayable not was inserted into the PFD loans and has long gone and the charge being put on the ground was a result of Jenkins going back with the begging bowl well and truly in hand.

To me it seems obvious what's going to happen.

EWM has loaned the club money but put a charge on the ground as they know fine well they aren't going to get any money back under this regime. If we are losing money every season and AJ is not getting any back, you don't have to be Einstein to know a problem.

So either EWM will launch a takeover bid using the charge as a tool in the summer or we will go into admin as the loans can't be paid back.

Either way next season is going to be a hell of a struggle to stay in this league!

I can understand us struggling next year with the Custodians in charge but, Richard, are you saying that being taken over by PD/EWM will be equally as bad? If so he is not for us...

Thats the plan by the board. Another load of shit to buy them more time. Phil day says this loan is old news .theyre just keeping something there for us to cling on to. The board thinks were all gullible idiots. They make me sick

Yes that coincides exactly with whats being said in other words the money was handed over months ago at the point the repayable not was inserted into the PFD loans and has long gone and the charge being put on the ground was a result of Jenkins going back with the begging bowl well and truly in hand.

To me it seems obvious what's going to happen.

EWM has loaned the club money but put a charge on the ground as they know fine well they aren't going to get any money back under this regime. If we are losing money every season and AJ is not getting any back, you don't have to be Einstein to know a problem.

So either EWM will launch a takeover bid using the charge as a tool in the summer or we will go into admin as the loans can't be paid back.

Either way next season is going to be a hell of a struggle to stay in this league!

I can understand us struggling next year with the Custodians in charge but, Richard, are you saying that being taken over by PD/EWM will be equally as bad? If so he is not for us...

If we got took over by EWM i think we will have a bright future so as long as we lose the 3 current owners. The issue though will be time as i can't see the current 3 giving up their positions easily and if there's a takeover it will need a transition period, i think its already late for next season and likely the budget has been set by the current lot. It could however move fast but i doubt it.

If there's no change ownership wise there's no doubt we will struggle and if we are placed into admin we are screwed.

There may be some announcement today i think on this, will wait and see. I was told there was some sort of press conference today, i'm not sure if that;s the case but somethings going on.

Maybe one for Laffy but if EWM as i think is happened have lent the club say £500k and mortgaged against the ground.

I presume EWM have got some sort of pay back agreement otherwise they wouldn't of took security against the ground.

So I'm adding 2 + 2 here and thinking that maybe EWM are hoping that the club can't meet the loan demands, admin will happen and they will make an offer get the club that way relatively debt free.

Why not ? Protecting your loan with a debenture would seem good practice and common sense, irrespective of any repayment agreement.

Maybe one for Laffy but if EWM as i think is happened have lent the club say £500k and mortgaged against the ground.

I presume EWM have got some sort of pay back agreement otherwise they wouldn't of took security against the ground.

So I'm adding 2 + 2 here and thinking that maybe EWM are hoping that the club can't meet the loan demands, admin will happen and they will make an offer get the club that way relatively debt free.

Why not ? Protecting your loan with a debenture would seem good practice and common sense, irrespective of any repayment agreement.

It proves 1 of two things though. Either EWM are after control in other words a takeover or they want their money back. If they didn't want either of those they could of just donated money via a sponsorship deal or naming right etc.

NC was very good at making shit sound good.

I agree that EWM need to come clear on what the intentions are. I was expecting Friday but nothing.

I do think they will take over and that's the long term plan but I'm thinking it may be done via administration in the not so distant future.

I met the trust today who said this will be good for the club but had no detail, also the NDA had no end date????? I did leave more confused than before I went in but never mind.

Technically administration is as likely as Mullen joining the CUOSC board :-p although you could be almost right. If the club defaulted on its debt to EWM and couldn't pay its bills EWM has the right to appoint an administrative receiver who would take control of the club but only on behalf of EWM not on behalf of the other creditors. That would give EWM total control subject to the rules of the Football League regarding football debts, ownership etc. I don't think this is likely though as there should be enough security provided by Brunton Park to cover the debt rising to £2 million or in other words probably another couple of seasons' worth of losses.

I'm not surprised if there is no end date to the NDA. These are drafted as non-disclosure agreements not deferred disclosure agreements. The courts would perhaps imply a reasonable period of time if there is no end date but that could be 10 years. Therefore I wouldn't bother waiting to learn the name of the POI.

There seems to be some confusion between an NDA (Non-disclosure agreement ) and a Confidentiality Agreement. An NDA is confusing in it;s name as it exists to allow disclosure between the parties under certain conditions. This is so others can look through what would normally be deemed as confidential and commercially sensitive information, this may not just include those who signed the document, but also there employees or agents (lawyers, accountants, etc) who may be involved in due diligence work and account scrutiny etc, these are usually detailed in the document. The NDA will normally have a confidentiality clause, this sets the conditions over what is confidential,who can/can't use the information and for how long. This clause may have certain items that can never be disclosed. However, the NDA will have a life, no lawyer would allow it otherwise.
Anyone asking another to sign a NDA without seeking legal advice first, is acting recklessly and is very unprofessional.
An NDA would be put in place when a long-term business partnership/takeover/building/funding is expected. A Confidentiality Agreement is simply to allow each side to discuss details that are sensitive and private and not normally in the public domain.
Most commercial lawyers have standard templates for these agreements.

An example here:http://www.mironov.com/documents/Mutual_NDA_template.doc

Maybe one for Laffy but if EWM as i think is happened have lent the club say £500k and mortgaged against the ground.

I presume EWM have got some sort of pay back agreement otherwise they wouldn't of took security against the ground.

So I'm adding 2 + 2 here and thinking that maybe EWM are hoping that the club can't meet the loan demands, admin will happen and they will make an offer get the club that way relatively debt free.

Why not ? Protecting your loan with a debenture would seem good practice and common sense, irrespective of any repayment agreement.

It proves 1 of two things though. Either EWM are after control in other words a takeover or they want their money back. If they didn't want either of those they could of just donated money via a sponsorship deal or naming right etc.

As Silentone says, it's just common sense.

In the same way that when you take out a mortgage you have to put up your house as collateral, but you still have to make the payments.

The deal we had with Story was to only pay him in years of profit, but as we don't makes profit nowadays I doubt EWM would have agreed to something like that.

So how come the club say theirs has a end date but the trust say theirs doesn't. Are they different? Is someone lieing? Or both?

It proves 1 of two things though. Either EWM are after control in other words a takeover or they want their money back. If they didn't want either of those they could of just donated money via a sponsorship deal or naming right etc.

You can try and make up your own ideas, to me it's much more simple than that.It simply means any loans are covered by a debenture, which is attached to an asset of similar or more value.

So how come the club say theirs has a end date but the trust say theirs doesn't. Are they different? Is someone lieing? Or both?

There are several potential scenarios, in the case of the Club and NC, he is playing games.

In the case of CUOSC, sadly i don't think they really appreciate what they signed into, or took legal advice first. I think it was blind determination to meet the so called Billionaire, common sense went out the window.

I'm with trisk after 50 plus years of following the club, if there is no change of ownership by next season I've had enough.

Basically, has Phillip Day not just bought Brunton Park?

Basically, has Phillip Day not just bought Brunton Park?

No more so than the mortgage company has bought your house.

So EWM's puts money into Carlisle, but doesn't announce it. Laffy spots it and says it's good news. The BoD say nothing informative as usual. The supporters, are very concerned about their club, which is slowly going down the sinkhole, or they are/have walked away .
PD seems very quiet, a few hints from him would mabey ease the misery and give people some hope things might improve one day.

I don't think they dare say anything, due all the NDA's etc as this looks like it's been going on behind everyone's back (including CUOSC) and at the same time as the Billionaire talks. (which has acted as a nice diversion)

Odd that laffy stumbled across it. As ever nothing is simple or clear with CUFC / the board. Disappointing really as NC said they understand after the POI they need to be honest and open with fans.

I still can't understand why the club didn't at the very least put something on the club website. Surely they didn't believe it wouldn't get spotted by someone. Is this another PR clanger? This along with other mistakes leads me to believe it's a case of "rabbits in headlights " AGAIN. !!

I still can't understand why the club didn't at the very least put something on the club website. Surely they didn't believe it wouldn't get spotted by someone. Is this another PR clanger? This along with other mistakes leads me to believe it's a case of "rabbits in headlights " AGAIN. !!

Get your party hats on lads, club sold, dick heads gone, Day in!

We're on the up, we're all excited...

?????

Is this true, or are you actually on cocaine?

Is this true, or are you actually on cocaine?

I can confirm its not true.

It's true. I wouldn't get everyone's hopes up over something this important. I'm on the peeves already.

Comes from a very credible source. This is definitely more than just a "loan".

Like summets garn on as we post on here???

If this is true everyone needs to get down to BP for the Notts game, show them exactly why the crowds dropped. I'll wait for 100% confirmation and try book the Saturday/Sunday off. I'm not a stay away apart from work commitments and travel. The more the merrier though eh?

I'm all for a good wind-up, but not on this subject!

Stop!

So many sources, very few names.

From what I understand, as has been speculated since news of the 'loan' broke, we're in the first stage of a takeover - hence why there's been no immediate 'official' news.

It may not happen until the Summer, but it's seemingly in motion. It could well be they're waiting to see how this season finishes etc.

Caution is being used by the looks, which isn't a bad idea. See where we lie come May and then plan the map for the next few years?

So many sources, very few names.

Think about it, it's not the best idea to go banding names about who know info is it?

I want the three gonks gone more than anybody. I'm not exactly anonymous, plenty of folk on here know who I am and I'm not really up for posting something on here to make myself look daft.

The times they are a changing, finally!

Lets fecking hope so!!!!

The times they are a changing, finally!

Until one of the three parasites sh*ts the bed again and puts the brakes on like they did with the Lapping deal :whistle:

Hopefully not though, sounds like things have changed hands this time (ie charge on the ground) so it might be too late. Maybe the pressure finally got to them.

CCU has it correct.

Takeover in the summer, loan in to then and security on ground in case it goes tits up which it won't.

EWM have an employee transferring to the club in may I believe.

Just hope their interest doesn't shrink in the wash

I think some may need a little more info, before building up hopes. Any more bits of info to back it up?

IF, IF there is any truth in this possible takeover and I wish and hope it's true, the most important thing is Jenkins, Pattison and Nixon(TOTH) have NO position at Brunton Park. If they have it would be a dreadful mistake to allow them to carry on in any position of authority.
I'd also be interested to see if Nixon(TOTH) would appear as just a fan !

Would folk accept AJ in a honorary position?

Think most would expect JN/SP to be gone?

As for Clibbens, who knows...

Button it.

Despite thinking hes caused most of his own problems I could accepted Jenkins in an honorary position, something akin to the current vice presidents but a step up. Honorary club president. As long as it is symbolic only and he has no actual say in the running of the club.

Nixon and Pattinson absolutely have to go as soon as possible. This is crucial in rebuilding the relationship with supporters.

Clibbins, depends on his contract. Either let it run out if its until the end of the season or get rid and replace if its rolling.

Can't help but think we're getting fleeced.

Ewe shouldn't feel to bad about things, they may be trying to pull the wool over our eyes, but if it's true I'm sure the fans will come flocking back.

If this is to happen, who will be first to be shown the door I wonder, maybe them all

Sorry for the stupidity, but what is TOTH after Nixons' name.

I was wondering what that meant! That's great, very funny, the likeness is uncanny!:lol: