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Reply | NFR
at 14:48 29 Feb 2024
I've just voted for David Tully. I wish other upcoming voting decisions were as easy. |
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Reply | EGM + statement
at 11:27 22 Feb 2024
Interesting.
The value put on the land that the ground is built on is similar to a rough estimate that James1980 and I came to by comparing the Crown Oil Arena ground footprint to that some old demolished factory housing development land price in Oldham. This was on another thread from December last year but I can't find it on the forum. I did find a thread about my and James1980's discussion. My comment then (half way down page) about an outside investor seems even more relevant to today's circumstances.
https://www.fansnetwork.co.uk/football/rochdale/forum/304192/what-is-up-with-you |
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Reply | EGM + statement
at 22:47 21 Feb 2024
I received mine 15 minutes ago. Just read the FAQs. Doesn't say much more. [Post edited 21 Feb 22:51]
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Reply | EGM + statement
at 13:07 21 Feb 2024
Yes they get their pay before anybody else gets paid anything.
If the club went into administration would they get a points deduction even if it went to a new owner? |
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Reply | EGM + statement
at 12:33 21 Feb 2024
Sorry DDB
I've edited my reply. Administration is an option, just not a good one. |
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Reply | EGM + statement
at 12:14 21 Feb 2024
Imagine that you own outright a house worth £1million but you have zero cash in the bank.
You are asset rich but cash poor.
You get a bill for £10,000 that you MUST pay but you do not have the funds to pay it. You could try to borrow some cash but you find that you cannot use your house as collateral because of something in the deeds (Morris amendment, National League).
Your only options is to sell your house to pay the bill (liquidate your assets).
This is similar to the situation at RAFC.
Voluntary administration would be an option but this would only add costs. The administrator would try to sell RAFC as a going concern, probably at a lower price than it is worth.
If an offer of say £2 million was tabled then they would likely accept it. They would then take their cut and distribute any remainder to shareholders.
The new owners would have the business (club) and debts to pay but their £2 million would be in shareholders hands and not the club's coffers.
If they could not sell the club as a going concern then they would then liquidate the company assets anyway, again take their cut, pay the outstanding bills and distribute what's left to shareholders. [Post edited 21 Feb 12:32]
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Reply | EGM + statement
at 06:55 21 Feb 2024
I have read both documents and have some opinions that I will keep to myself until I have seen the FAQ sheet from the board.
I will however point out a couple of things if the EGM proposals are agreed (as I understand them).
If the chairman converted all the £566k debt owed to him into equity by buying the new A-class shares @ £0.22 he would purchase around 2,573,000 of the shares taking his total shareholding to 2,683,000 and the total number of shares issued would increase to around 3,550,000.
This would mean he would own just over 75% of the club and jointly with the other directors’ shares, the board would own over 80% of the issued shares.
Someone asked earlier why the over 90% shareholder threshold was “important” to any new investor. It is perhaps achieving the minority shareholding below 10% that is important.
A 10%+ minority shareholding has the right to have the annual company accounts audited.
I would like to know who wrote / composed / had input to the resolution proposals. |
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Reply | Gateshead lose 5 0 at ...
at 00:27 14 Feb 2024
I posted this on another thread.
To be safe from relegation we need around 55 points. (Keith Hill used to say that this was his first target at the start of a season and it looks like it still holds true).
To get into the final promotion slot we need around 77 points.
This is a link to a spreadsheet that automatically updates from Wikipedia. It shows the average match points we need to hit these targets.
https://docs.google.com/spreadsheets/d/111ZS9XY9h1-QtlugZ7MdFGpcVfoewjHiyNaBIDGz
At the moment we are averaging 1.32 points per game. We have 15 games left and we need to average 0.98 points per game to reach the 55 point target and 2.4 points per game to hit the 77 point target.
I would like to see the team hit the 55 point target as soon as possible, even if the football is poor, and then "just go for it" playing entertaining no fear football for any remaining matches on the outside chance of hitting 77 points or whatever is needed to reach the playoffs. |
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Reply | Eight Game Ticket Bundle on sale
at 10:04 9 Feb 2024
I emailed the club to ask about this and have received a reply, paraphrased below.
They have looked at it. Fleetwood, who also have a small number of fans, do it on the same ticketing platform as RAFC use, it hasn’t helped them increase attendances or revenue.
There are problems with supporters opting in and out for different months and the monitoring of what they are entitled to.
There is a significant cost that needs to be passed onto fans.
From the club’s position, the subscription model removes the cash flow boost needed during the summer months where the club has costs but no revenues. [Post edited 9 Feb 10:21]
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Reply | Eight Game Ticket Bundle on sale
at 13:09 8 Feb 2024
"The price for a Sandy Lane bundle is £120, whilst one in the Smith Metals Family Stand is £132.
Please note, they are only available to purchase in-person or over the phone."
From the club site. |
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Reply | Eight Game Ticket Bundle on sale
at 09:53 8 Feb 2024
I 100% agree James. This is the way forward. Most people pay for utility bills, phone bills, insurance etc this way.
It would bring a regular known fixed income into the club every month even in the summer period when there is little other income as well as helping fans to budget.
However, like insurance for example, it may have to include a small extra monthly charge, for example if next season the price of an adult season card in the main stand increased to £350.
This could be paid for by a one off payment of £350 or alternatively 12 equal monthly payment of £30, paying a total of £360.
It is important to the club to encourage some of the fans to pay for the season card up front in one payment as this provides needed cash between the seasons when other sources of income are low. [Post edited 8 Feb 9:54]
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Reply | Supporters meeting 6th Jan
at 15:14 5 Jan 2024
I similarly to you provisionally support the Trust’s initiative to provide funds to “build the squad”. The Trust raising cash for the squad from voluntary fan donations seems reasonable.
Like you my caveat is providing that a large number of adult Dale fans voluntarily join the scheme.
By this I mean 1,000 fans each paying around £5 a month raising £5,000 every month rather than 50 fans each paying £20 a month raising £1,000 every month.
What would be the monthly target for money to be raised?
In the proposed scheme however, I do not see any advantage to the trust or fans in simply gifting the money to the club instead of using the money to purchase more shares. Both options would put the same amount of capital into the club. (Woking buy more shares with their scheme)
Buying more shares may not give the Trust more influence with the board but if the Trust eventually reach 25% ownership of the club it would provide protection for the ground.
The trust holding more shares also has another advantage. If in the worst-case scenario, the assets of the club need to be liquidated to pay off any outstanding debts, then any capital left in the company after these are paid would be shared between the shareholders. The more shares the trust has the more money the trust would then have to launch a phoenix club.
This is partly why on another thread I was querying the value of the club’s main asset, the ground, if sold for house building. |
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Reply | Buying more shares?
at 16:28 4 Jan 2024
No private companies can offer perks to its share owners but not perks (enticements) that are contingent on purchasing new shares. |
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Reply | Buying more shares?
at 15:11 4 Jan 2024
Offering any enticement to purchase shares in a new share issue in a private limited company is illegal. [Post edited 4 Jan 15:54]
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Reply | Buying more shares?
at 06:50 4 Jan 2024
Back to the original question about buying more RAFC shares.
1. I will listen to the proposal for the “squad builder” fund by the Trust. If they can show that there is a clear financial or football advantage to the club of this scheme when compared to simply purchasing of more shares, then I will donate to this.
2. If they cannot demonstrate a significant advantage, then I will consider purchasing another batch of shares but not immediately. I will wait until the prices for next year’s season cards are announced. If these are increased, then I WILL buy some more new shares. If they are not increased, then I WILL NOT purchase any more new shares as I feel that all I would be doing is subsidising the season cards of others.
On another note related to shareholdings, there are just under 3,300 shares that are held by around 120 shareholders, each holding less than 100 shares. This means that they must not have purchased any new shares in the last two issues.
I think the club should send an email shot (with any needed documents attached) to these shareholders asking if they would be willing to either return their shareholding to the club treasury or alternatively donate them to the Dale Trust. |
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