Season Ticket Sales?

Could season ticket sales be used for the funding of the purchasing of the club?

In other words, is it possible that if the new owners do not have the funding to purchase the club, could they use the money from season ticket sales to prop up their bid?

GOB wrote:

Could season ticket sales be used for the funding of the purchasing of the club?

In other words, is it possible that if the new owners do not have the funding to purchase the club, could they use the money from season ticket sales to prop up their bid?

Yes. Even if legally they cannot do it, they will try it somehow.

If that's the case...

Does this secret organisation that are the PB, actually exist or could it be a Ridsdale and "others" thing?

Reminds of a small scale thing that happened at Man U not so long ago.

Maybe Guilfoyle could answer your question.

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Thanks Frank.

GOB wrote:

If that's the case...

Does this secret organisation that are the PB, actually exist or could it be a Ridsdale and "others" thing?

I must admit Gob, this possibility has crossed my mind as well. If he can stretch out the admin thing, see off the football creditors and get the Farm to fund the staff, he could then borrow some money and basically come out it a couple of million richer in 12 months time whether the club gets relegated or not.

GOB wrote:

If that's the case...

Does this secret organisation that are the PB, actually exist or could it be a Ridsdale and "others" thing?

Reminds of a small scale thing that happened at Man U not so long ago.

It would certainly make things a lot more clearer as to wtf is going on and I wouldn't put anything past that Ridsdale cock

I'm betting the next statement will be along the lines of "If we don't sell season tickets the club cannot pays its bills and Insert doomsday scenario of choice"!

From a poster on Pasoti who was at the Q&A with Ridsdale

One very important thing was said today.

The ST money will go into a ringfenced account, it can only be used for the express purpose of funding next seasons games, it can be used for NO OTHER reason.

This has been done by Brenda, as it has been ordered by the court.

So people, I can now say that I will be buying a season ticket, as I know, that a) It will fund my football club and can be used for football purposes.

No PB can get their hands on it for building a Hilton hotel, no scally can get hold of it for making a presentation of a world cup bid, it's for our club.

If the club should fold, all monies have to be returned the purchaser, again, this had been dictated by Brenda as a ward of the court.

The money is safe and to be frank, the more we buy, the more we help our TEAM.

Thanks Frank and thanks for being frank Frank.

It all depends which way one looks at it Frank.
Guilfoyle's position is very handy in many ways, as it makes it impossible to pay the staff any of their back pay, and there has been no mention at all today regarding how long this staff pay situation is going to go on. If the money is for next season's games, then does that mean it is for next season's staff pay or just the other overheads, administration and the players ?
The way I see it, the staff are going to be right at the bottom of the priority pile. Sort of inevitable really given the lack of fight and strike action. Boycotting season tickets is the only way fan pressure can be brought to bear on changing the priorities of these shysters.

Looks like they have defused the pay situation with the gesture of a hand until next month, when exactly the same thing will happen. The back pay has been put on the back burner, and that pay itself is ringfenced, but for bad reasons. IT WILL be a target for negotiation despite all the 80/20% players/staff argument on the farm. And those negotiations are going to take forever, because Ridsdale is in no hurry and the players ill not be taking a cut any time soon .... why would they ? .... I know I wouldn't..... pay me or pay Mastpoint ? ..... no contest. By the time the 'preferred bidder' is in for a million, the players' agents will know he ain't going to pull the plug on the club. When the bidder susses this fact and how it leaves him vulnerable, he'll probably go back on his exclusivity deal and pay no more ...

That's why it seems like we'll be staying in Admin then, so after expenses are paid the staff will get what's left. I don't think it'll take long for the season ticket sales income to run out, what happens then? Back to square one I reckon and staff picking up crumbs waiting for the club to be liquidated.

Or am I completely off track?

I still don't believe liquidation is the end game. Kagami would be the only person on the planet looking for such a scenario.

Guilfoyle has stated it's the bidder's next 800 grand that will be put toward the staff pay. Handy that, as I believe these 'milestone payments aren't going to turn up, certainly not in the amounts agreed. Looks like more staff have twigged what's going on and have left the building along with Cob's dad.
As Ridsdale has said he envisaged the present 50 staff as about right for a L2 club, I guess we can expect some job adverts in the not too distant future.

GOB wrote:

Could season ticket sales be used for the funding of the purchasing of the club?

In other words, is it possible that if the new owners do not have the funding to purchase the club, could they use the money from season ticket sales to prop up their bid?

To answer the original question..

I don't know the answer, but I am guessing it would be a big no.

Logic says you wouldn't be able to use assets that weren't yours to buy control of those same assets.


But more importantly...

Frank Bullitt wrote:

From a poster on Pasoti who was at the Q&A with Ridsdale

One very important thing was said today.

The ST money will go into a ringfenced account, it can only be used for the express purpose of funding next seasons games, it can be used for NO OTHER reason.

This has been done by Brenda, as it has been ordered by the court.

I thought it had been put 'on record' by somebody of authority, that next seasons season ticket money had already been 'mortgaged' in a loan already made to the club? Did that loan disappear in the bankruptcy? If not, how is it going to be paid?

That would now be a part of the creditors agreement Rick?

Ringfenced, meaning that should the club go into liquidation the money gets paid back to those that purchased the product, of course, that's as long as the money is still there?

This offers as much protection as administration from what I can tell. In other words, the purchaser becomes a top of the list creditor and first to get their money back as long as the money has not been blown on anything else?

Good point that,Ricks,although i can't see how the powers that be could have calculated,even on a "back of a fag packet" basis, how much revenue was going to come in from season ticket sales this year.Perhaps they didn't give a toss and just borrowed against it anyway.Ring fencing money is all well and good,but from personal experience in budgeting,money can be un-ring fenced should the need arise.Unless there was some sort of legal or contractual injunction involved when setting up the season ticket account,there would be nothing to stop the money being moved from that account should it be deemed necessary.I can already hear the "exceptional circumstances" quote being trotted out.There seems to be a certain amount of pants jazzing at the statement from the Riddler today at the Q and A session but there's a long way to go before i'm convinced enough to renew.a very long way indeed.

"The ST money will go into a ringfenced account, it can only be used for the express purpose of funding next seasons games, it can be used for NO OTHER reason"

it is a very woolly expression, there's a hell of a lot of things involved in funding a game, Director's guests for example.

We would do well to remember that stuff like this has gone on when we hear words like "ringfenced". This is well worth watching but be careful if you comment considering there is a Crown Court hearing about to take place!