TOPIC: Bristol billionaire and Jenkins

Oh well, it's alright then, the wealthy Jordanian says so -
www.newsandstar.co.uk/Carlisle-Utd-right...94ca-d12a28d4659f-ds

So, he breaks his silence talking to the press simply because he has now found one person that agrees with him

It's a non story.

Meanwhile any genuine sane person with the club at heart will be put off by this continuing soap opera.

What a muppet he is becoming. Its sad really given the years of service he has given the club but at this rate he wont be remembered fondly when he does finally sell up.

Assuming this was real then all he had to do was reference the confidentially agreement which from my own limited experience of take overs can cause all kinds of problems if broken.

its almost on a par with knightons curry house waiter, at least he existed.

The only thing we can deduce from AJ's words is that the jordanian was not our potential investor as
a) our investor is still interested
b) if it had been the jordanian, AJ could now say so (and blame us natch)

Bet the Jordanian gadgie was bored to death with Jenkins' tales of his vast pie empire, can only imagine nixons crack being ten times worse

Looking more like he is the billionaire in question www.newsandstar.co.uk/Carlisle-Utd-right...94ca-d12a28d4659f-ds

I still think the billionaire probably exsists.If the person is a football fanatic then United are probably a very good buy.I do not think that AJ should come in for the criticsism levelled at him on this site. He has put a lot of money into the club and you have to be brave to do that.

If you think that then you probably also think the world is flat and the moon is made of cheese. AJ has had to put money into the club due to the mismanagement by him and his sidekicks.

The billionaire has a passion for football......hmm. Yet, never contacted AJ over the flood or following our moment on TV versus Everton. His passion is, what? Does he/she actually follow British football very closely? Did our name crop up via Ouija board. It's nonsense and everyone knows it.

Shaldon... shut the [censored] up you stupid idiot

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I interpreted it as the BR new owner saying he got involved due to his passion for football. A very pointless article - slow news day since fat Bill didn't score?

Shaldon, if he isn't a work of fiction and CUFC were a viable option, why hasn't the billionaire stumped up his cash by now? Don't get me wrong, I hope he is real and stinks big bucks into a new stadium, a new catering set up and a few players to help us climb the leagues, but saying that AJ deserves protection from criticism of a major PR balls-up because he's put money into the club is crazy. Between us fans, I reckon we've stuck around 4 times more in cash than his loans and donations - surely that means we should be protected from such dross?

shaldon1 wrote:
1 - hahaha you are either a wind up merchant or related to one of our custodians
2 - he has not given the money freely but as a loan which is delaying the sale to a more proactive and modern group
3 - The billionaire does not exist. The fact this character was going to invest alongside Jenkins and Nixon shows how poor it was. Anyone with that level of money would want the club out right with total control.
4 - why are we a good buy, there are probably several championship sides who would be available and are one league below the promised land of premiership riches
5 - Jenkins has run us into the ground once before and saved the club by selling to Knighton. He has again mismanaged the club and seems to think he needs to recoup losses that were his own fault. He has done loads for CUFC but should have gone ten years ago.

Guys guys Shaldon's more to be pitied than laughed at, Probably the waccy baccy's been out...

There are days I would love to not give 2 sh@ts about Carlisle United.
Love the team, coming towards loathing the club.
The sooner this oaf is nothing more than an elderly fan the better.

Jenkins missing the point spectacularly, the bumbling old c*nt.

The anger isn't over the "confidentiality". The anger is over the fact that this billionaire was invented purely as an excuse to kick the Lapping deal into touch of while they thought up an excuse to can it altogether. The lie has now spiralled out of control and he has backed himself to into a corner.

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What makes you think Carlisle would be a good buy for a football fanatic billionaire? Surely someone like Villa, Leeds, Sheffield United or even Portsmouth would be a much better buy given their potential.

Dunno about that loser marra.. the confidentiality crack is a used bullshit excuse for other stuff as well as the excuse for shafting Laffys proposals....like lack of info on blue blunder... when theres sod all happened since their brain dead idea of a shoebox arena up kingmoor (was invented with paper and pencil) was laughably kyboshed by the council. How long can the idiot keep it up??

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markredfox73 wrote:
As long as he reckons he can get a return on his funding of his personal incompetence!

See according to drama queen Andy Hall the media team have been kicked out of Brunton Park today

Wonder what the hell is going on there then ?

And also the season Ticket sales system broke down this morning probrably before a ticket was even sold

Why the Fu ck would anybody want to buy a season ticket for next season is beyond me but for gods sake why would you want to do it today.

I think Jenkin's has convinced himself their is a Billionaire now even though he has told certain people their isn't !! surely Laffy can get a fake tan, beard nice tea towel wrapped around the heed and pretend to be some rich arab wishing to invest?? stranger things have happened

Ha Ha

Sheik Laffytiffa of Gosforth

Hindley actually but close

NORTHERNSOUL wrote:
Media team relocated - interesting.

Its no surprise at all from this club that something ain't going to plan/aint working. happens all the time its getting past the laughable stage now.

And yes, why anyone want's to get a season ticket today is beyond me also.

Sheik Laffytiffa of Hindley I like it!! surely a half time appearance doing a few tot ups and how you want to convert BP into the Nou camp cant be that hard! come on Laffy lad I had a skip in my step at the start of the season when I thought the takeover was happening don't give up on us!!

So whats the crack with media team....spill the beans then.

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markredfox73 wrote:
Located away from BP. Might be something to do with the builders I think

There will be regime change-with no obvious succession plan,we live in hope that it's not an earthquake that brings it about.

No offence but I have said it would be inconceivable to work with the present owners after last summer-both sides agree that.

Seriously,I doubt anyone will make any sensible approach whilst this billionaire charade continues,putting any sensible succession plan into the long grass

Where do you think we will be in 3 or 4 years time, Laffy?

Well the same issues are around to hold back progress so until we address/resolve;

-the Jenkins debt and

-the Trust negative control,

we will trade sideways.These issues will remain even if we secure promotion this season-that in itself would deserve some plaudits.

I don't see anyone wanting to pay out AJ and his loans-it ranks ahead of the shares so in essence it owns and controls the club.Can the club pay back AJ in a conventional way out of trading cash flow?Highly unlikely so the debt will act as a drag on things generally.

Until the current stakeholders actually set out a position where they would step aside,it's impasse in my view.

Totally agree Laffy, sadly, you must be getting sick of stating the bleeding obvious. What is most galling in my opinion is that the gruesome threesome were happy to string you along and allow big Fred to waive his loan only to then hang Jenkins own debts/loans over the club. Oh, and then invent the facking billionaire shite!

It is an impasse without doubt, you had good intentions as did the other investor group but until someone pays AJ back, nowt is happenning !!

He deserves nothing at all back ....and he is too stubborn to see it. Just needs to step down and give someone else the club to move it forward into the modern world. No respect from me at all no matter what.. hes bungled and embarrassed the club for years...

Oh and as for the end of season awards... are folk gonna kiss arse him again and boost his ego thinking its a tiny minority that think the club is a mess.
A perfect opportunity to gatecrash the party i would say.."Lee Nelson to Sepp Blatter" style



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Oh dear, is it only me thinking one is gullible, one is thick and the other one is a devious, self interested snake in the grass. A jolly good read - Jungle Book!

Laffy wrote:
Sadly all true .......what AJ really wants is somebody`s money while he and JN remain at the helm in the short/medium term. To relinquish the "cudos" of being the top man will be too much to bear, until he cannot physically continue due to age/health issues and is forced to stand aside.
To come out and say the best business model for CU is to have somebody at the top who can put in funds as and when required is a ludicrous statement , he aint going anywhere soon. As for Fred Story writing off his loan we can only assume he was completely taken in as well by the terrible two.

Anyone who thinks this club is changing hands in the next 12 months after the season we've had is off their face and should be observed from a distance.

I see Jenkins says "had approached us" instead of "has approached us". Says a lot.

I totally agree with the comment from Laffy about there being an impasse and the reason for it is perfectly clear. The Trust using Mileson's money paid over £600k for their shares. The present owners paid £3 or thereabouts. The Trust still values their shareholding at £200k (from memory) which is reflected as capital reserves in the accounts. Yet as Laffy points out, AJ and Pioneer's debt ranks above the shares and in strict corporate logic, if the debt is not worth face value then the shares have very little value. Essentially the whole stand-off boils down to a very straightforward conundrum. Is the value in the shares or in the debt? AJ will say the debt as that is what he has contributed. The Trust against all logic will say the shares as they structured their investment naively.

I think the eventual solution will involve paying some lip-service to AJ's way of thinking. The Trust cannot win and can be fobbed off with their demands for a seat on the Holdings board. Interestingly the report and accounts for both the Club and Holdings Company for last season have been filed and should be available on the Companies House website later today. As for the AGM, I think they will just wait until the normal time around about November and effectively skip last year's.

Tick tock...365 days fast approaching

#FiveToTenDays

The only way the club will have new owners in the next few years is if AJ is no longer with us and has gone to the little board room in the sky, or the club has been placed into administration.... It is pretty clear that the 3 clowns in charge will do anything to cling onto power.... they are only interested in new investment on the terms that they remain in charge. They are sitting pretty for at least a couple of seasons after transfer and cup revenue bolstered the club's funds.... so they know that they can just stay put and ignore fans for a few seasons yet. Time waits for no man though... sooner or later there will be change at the top as you can't go on indefinitely being this incompetent without it catching up with you.

Northumbrian wrote:
On the face of it thats correct but even with the money thats come in i.m pretty sure a season ticket boycott would focus minds a little.

And if the Trust were serious they would be organising one with a commitment to compensate supporters financially who signed up to a boycott if it resulted in the removal of Jenkins and Co which would work out a lot cheaper than paying off Jenkins.

But all this is irrelevant if someone would resurrect the fan ownership and patron investment model which would allow Jenkins a way out acceptable to him and a way that would not involve investors directly paying him to go

But hasn't that been tried before and blatantly refused by AJ without as much as a quick scan over the proposal.

The problem as I see it is that the stakeholders said they would step aside for the right proposal-unfortunately nobody has an inkling of what constitutes 'the right proposal'-hence stalemate.

It is patently clear to me that nobody of substance has come forward to back the current regime-my proposal involved a new executive board with the rump of the existing board moving upstairs- so the notion of material investment joining the existing structure is fallacy and in my view doomed to failure.

I think my proposal was still the solution-a hybrid if you like with recognition and a move upstairs for previous effort.A seamless old to new

From your discussions Andrew, did you feel the reluctance from AJ was about getting his money back or relinquishing control.

As Northernsoul can also agree on a significant proposal was given to AJ for his shares which in my understanding would of given him his money back in a relatively short space of time. It got refused, so to me speaks volumns that AJ wants to continue in a position of control until his death or until he is incapable.

Laffy wrote:
Laffy i know its not your preferred method but would a proposition where a figure was agreed with AJ that he would accept as a full and final settlement of what hes owed.

Divide by say 4 and pay him back 25% of the agreed figure each year and every time a payment was made he would hand over a quarter of his shares giving a situation where in a maximum of 4 years time the debt would be wiped out and a new investor would own Jenkins shareholding and if done in liason with the Trust own the magical number of shares in the holding company.

I thought we had a deal agreed-it did not involve cash changing hands for shares,basically a conversion of debt with the Pioneer being rescheduled.

AJ and JN with me upstairs so to speak-new blood running day to day stuff.

I do understand AJ and his long connection with the Club-totally get it,but I was not prepared to pay cash for loans which had nothing of substance behind them.I put a notional value on the club of circa £2.5m to convert loans to equity and for the purposes of the cash injection.Very fair in my opinion but crucially no immediate cash out.

In reality if FS hadn't written his loan off,the AJ debt was not worth much either.

Mullen103 wrote:
Mullen i think the reasons he actually refused to engage with the party that made that offer to him privately was that he saw the person involved as only in it to make a short term profit which on the surface was the way that it looked when in effect he was only looking for a reasonably small sum to facilitate the whole supporter investment scheme and presumably as a way of making his money work for him in the same way as Laffy does in these days of low interest rates.

Now it could also be that he has a hatred of supporter ownership or indeed this version of it in particular but by refusing to engage i guess we.ll never know.

I personally don't believe anyone will write a cheque for £1.6m unless they were then going to ask the equity to step aside for not a lot for their stake.

In my game,debt controls so if the debt was traded,it would be easy to ask the equity to pay out the loan-and we know that won't happen,so whoever owns the debt controls the Club

I wanted all the money from my proposal to go to the Club.

I can see a scenario where someone offers for AJs loans,particularly if they could agree a nominal value to get the equity too-that's where the Trust has a position of strength in my view as it has a block-the only way around it is really to put the club into admin and destroy the equity altogether.Not an option anyone would follow in my view.

Laffy wrote:
So are you saying that at the minute you believe AJ wants money for his shares as well as re payment of both his and pioneers debts repaid in full.

No idea-see my note earlier re this!

I would if i could cut thru your very guarded investment entrepreneur speak lol.

While youre here can i ask what your opinion is on clubs being supporter owned by way of an investor club scheme [ As opposed to a Trust ] and operated in conjunction with a board of local patrons.which would allow local businessmen to get involved securing any money they put in by way of sponsorship and benefits and a small shareholding instead of being the major shareholders.