Misleading column in the Herald.

Firstly I apologise for re- posting this here but I felt it needed to be read more widely than being buried in Zoo Corner.

Chris Webb's latest column contains a factually incorrect and misleading statement.

In his latest piece he states that Argyle fans had the opportunity to buy shares at a rate set by independent experts. This is NOT TRUE! The Fans' Trust were offered the chance to buy LOAN NOTES. That is not buying shares in the club at all. It is raising £400,000 to lend to the club. The Trust would have got 5% interest on that loan. £400K was supposed to represent 20% of the club, making the club worth £2 million. If the clubs value had increased to say £4 million the Trust's "investment" would have still been £400K. It would not have gone up to £800K. That is why there was little or no appetite amongst the fans to slog their guts out to raise £400,000 to lend to the club. It was NOT a share offer.

The Trust would not have owed a share of PAFC. It would have had no representation on the board. The Trust's money would have actually been more secure than shares because it was a loan. The value would have remained at £400K and received interest just like any other loan.

I think it's important that the facts are clear and not clouded by incorrect comments made in the local newspaper.

its ok now tho, mr B got his loan from elsewhere in the end...

Post this in the comments section Blighter.

Someone's obviously reading this site as it has been copied and pasted already Mr FFS

So I see.

Same old shite, old Website needs to check his principles he gets confused about whether he is supporting the working man or his boss, must be hard to be fair.

Perhaps you could post it on the much wider read forum Pisspoti, I am sure someone will pass comment?

Surely someone at the Trust should contact the Herald and ask for a correction to be printer IN WEBB'S NEXT COLUMN. At very least they should be able to get a letter published correcting the error.

swampy wrote:

Perhaps you could post it on the much wider read forum Pisspoti, I am sure someone will pass comment?

If anybody wants to cut and paste it over there, be my guest. I would ask that no other comments are added to it though. I've been told it's been pasted on to the Herald site with a comment added at the end. I'm surprised it's still there.