Statement from the board.

So Akkeron are having a little "financial restructuring". Bless, almost sounds cuddly.
Young Jimmy is the master of understatement.
Let me think what he said in his own words after jumping ship as global real estate head honcho at Citigroup just months before it went crying to Uncle Sam for 50 billion dollars.  He said it was time for me to get out as I could see the market was about to make a "correction". How cuddly is that. What a sweetie.   
Does this man live in the REAL world ? PCC must be pulling their hair out.

There was a time that Stevie Nicks gave me a 'correction'......

I understand Ridsdale is on a walking holiday in the area.



On a more serious note, no mention of whether the club is operating at a profit or not. And certainly no mention of how the lump sum Football Creditor Debt will be repaid when it falls due.


I think it's now a case of Play-offs or Administration

Any bets that Heaney and/or some of the malignant seven will try to buy the club?

Seems to me like from a business sense, the club is verging on admin.

But from a football sense, Wembley and promotion could be a game changer.

So now out of the blue, Brent brings Wrathall in to keep the club ticking over for the immediate future, just a few months.

If we don't make the playoffs, or get there but don't finish the job - it could/will be shit creek for the club.

Graham Clark has got wind of it, and like this statement implies, the boardroom have agreed that a fully united set of players, supporters, directors and fans groups is about the best strategy. Wrathall with the chequebook to stave off admin for a few months. Take the pressure off the players and Sheridan - let them focus their minds on that Wembley final, not on their mortgages.

I can see why Graham would surrender sharing the doom and gloom if it meant one possible shot at salvation for the club.

Heanys fecked isn't he? Financially I mean

Heaney, Brent, they're all the same.

If Brent did feck off now what assets would the club actually have to sell and pay off any creditors? We don't have many players on long contracts and none that I would imagine would be big bucks if they were sold? It could transpire that PAFC go bust But Brent would legally own and keep all the car park for development, shorely not?

I thought this very apt..

[You must be registered and logged in to see this image.]

Iggy wrote:

If Brent did feck off now what assets would the club actually have to sell and pay off any creditors? We don't have many players on long contracts and none that I would imagine would be big bucks if they were sold? It could transpire that PAFC go bust But Brent would legally own and keep all the car park for development, shorely not?

We have less if anything. Brent transferred the lease on half the club's previous tenancy to Akkeron.

If you were ultra conspiratorial, you could understand why the club folding would be good for Brent's business interests. No commitment to developing a £10m stand for a start. Now the land has been transferred, who is to say HHP would stop just because the football club was in turmoil? I am not sure St James would agree with that - remember, he was never that into football anyway.

Iggy wrote:

If Brent did feck off now what assets would the club actually have to sell and pay off any creditors? We don't have many players on long contracts and none that I would imagine would be big bucks if they were sold? It could transpire that PAFC go bust But Brent would legally own and keep all the car park for development, shorely not?

Maybe that was the game plan all a long. We all know how keen PCC are to get rid of covenants so whatever are left on Central park / HHP will be no problem to get rid of. The whole development oozes class so expect a Lidl where the stadium is soon.

The HHP development is conditional on bulding a stand, but right now the whole thing is in limbo.

mouldyoldgoat wrote:

Iggy wrote:

If Brent did feck off now what assets would the club actually have to sell and pay off any creditors? We don't have many players on long contracts and none that I would imagine would be big bucks if they were sold? It could transpire that PAFC go bust But Brent would legally own and keep all the car park for development, shorely not?

Maybe that was the game plan all a long. We all know how keen PCC are to get rid of covenants so whatever are left on Central park / HHP will be no problem to get rid of. The whole development oozes class so expect a Lidl where the stadium is soon.

Thats a bit unfair towards Lidls I would say more of a 99p store coming soon.  

Damon.Lenszner wrote:

now the whole thing is in limbo.

which is good news right?

Damon.Lenszner wrote:

The HHP development is conditional on bulding a stand, but right now the whole thing is in limbo.

One thing is for certain as far as the Council are concerned. There should be no way they should even consider selling the stadium back to Brent under these present circumstances.

Still cant work out how it pans out.

Brent cant do the stand.
Council say he cant do HHP
He walks with one of his pension pots still owning the car park
New owner has to either pay him rent for the car park or buy it back from him.

Just puts another nail in the coffin of the chances of someone being able to rescue us.

I'm not sure he owns the car-park? Surely not? Hasn't that always been PCC property?

The carpark behind the Grandstand where the club shop is?

I thought that was transferred to JB and 2 business friends not long after we came out of administration.

AstiSpumante wrote:

The carpark behind the Grandstand where the club shop is?

   Sorry. I'm now in the habit of seeing it with buildings on it.

I'm off to bed - I'm knackered.

Jethro wrote:

GOB wrote:

Quote :

Our aim is, as it has been from day one, to have a united fan-base seeking the very best outcomes for the football club

  

and buying into pasoti, appointing webb as president and having porky in the directors boss has really helped that

Not forgetting Trust/PASB/Fans reps approving plans (the Pig) debacle. i think Brent is as loooney as the Pig, in believing their own words, say it often enough and it becomes true, right?

Of all the things in the past that the Board could have commented on but didn't, they decided they needed to on this occasion, why?

Of all the phone calls that Jim could have made he chose to make a call to a fan now, why?

The Directors seem to have very little confidence in Brent's master-plan judging by their refusal to commit funds to the Club, why?

GOB wrote:

Of all the things in the past that the Board could have commented on but didn't, they decided they needed to on this occasion, why?

Of all the phone calls that Jim could have made he chose to make a call to a fan now, why?

The Directors seem to have very little confidence in Brent's master-plan judging by their refusal to commit funds to the Club, why?

I think they know once HHP is complete they arent likely to ever see their investments back as the club will be worthless.

Angry wrote:

GOB wrote:

Of all the things in the past that the Board could have commented on but didn't, they decided they needed to on this occasion, why?

Of all the phone calls that Jim could have made he chose to make a call to a fan now, why?

The Directors seem to have very little confidence in Brent's master-plan judging by their refusal to commit funds to the Club, why?

I think they know once HHP is complete they arent likely to ever see their investments back as the club will be worthless.

I reckon your not far off the mark their Angry.

The director's obviously see the Argyle is non-investable and only someone foolish would invest at this moment in time.

Massive debts still and a balloon payment due in the not to distant future.

It's play-offs or admin me thinks.