New Investment Options

[steelboy]

29 minutes ago, Pepper said:

"We have always seen the WS money as an insurance policy against a major downturn in our finances"

There's half the problem right there. 

A broadcaster recently approached us about a docuseries on the club that could open considerable commercial opportunities.

So this revolutionary form of investment is exactly as we suspected - trying to do a Wrexham. 

GET THIS IN THE SEA.

It's always been about his production company trying to sell content to streamers. 

[santheman]

I'm hoping to wake up and find out that it's a typo error and there should be a 1 or 2 in front of the figure

[FirParkCornerExile]

6 minutes ago, robsterwood said:

Think the Wrexham documentary idea was paper talk. By all accounts deal on the table appears a risk not worth taking. 

** info means original post answered.

 

[Pepper]

5 minutes ago, robsterwood said:

Think the Wrexham documentary idea was paper talk. By all accounts deal on the table appears a risk not worth taking. 

It's literally mentioned in his statement! 

[wellfan]

1 minute ago, FirParkCornerExile said:

Without having had a full look , surely if the WS could afford to buy back (apparently they have £750,000 in the bank) its worth taking a punt for two years at which point the WS could exercise their option to buy back for less than they currently have in the bank.

Read the details in McMahon's and the Society's statements, and all will become clear on how that £750K won't be there in 2 years if the deal is accepted. 

[steelboy]

It's sobering to think that they believe our support is stupid enough to accept this. 

Whoever the three people in favour of this on the Well Society board are need to be removed asap. 

[robsterwood]

Maybe take  Kettlewell can take Theo and Lennon to dragons den and get better offer from Deborah or Pete. That valuation is a joke. 😂😂 I get Hibs value higher but surely not by amount mentioned.

[robsterwood]

That will be a no then. Does not get close to how an agreement should look to us fans. I wil be voting no. 

[FirParkCornerExile]

I  really want to see what the WS are offering.

[robsterwood]

Are we sure that offer wasn't for The Rex chip shop? 😕 

[steelboy]

4 minutes ago, FirParkCornerExile said:

I  really want to see what the WS are offering.

The Well Society don't have to offer anything. They will just keep running the club and trying to increase cash flow.

 

[Cameron_Mcd]

@steelboy

[StAndrew7]

Absolutely feeling the sentiment of all. Get this offer thrown into the fucking sea where it belongs.

[GawnUpBy?]

Just now, StAndrew7 said:

Absolutely feeling the sentiment of all. Get this offer thrown into the fucking sea where it belongs.

And hopefully the offer takes McMahon & Dickie with it. 

[smeddum07]

 

3 minutes ago, steelboy said:

The Well Society don't have to offer anything. They will just keep running the club and trying to increase cash flow.

 

But they have shown zero actual ability to increase cash flow and as the statement says relegation would be curtains for the club and without Kettlewell we would have gone down this year.

 

Invested in well society since the start and get pretty much nothing back. This is serious money coming into the club (haven’t heard of any other offers) while keeping the assets defended.
 

dont want to hear anyone complaining about signings or us just spinning our wheels if this is rejected.  

[Yoshi-1991]

50 minutes ago, FirParkCornerExile said:

I'm sorry but raffles, tombola's and WS quiz nights don't do it for me as our fund raising opportunities. If they have something thats better I'll happily reject. If they dont I'll consider the investment offer. As long as the assets of the club are protected (ie, the ground) I'm open to be convinced. 

Far too sensible for this place.

[StAndrew7]

3 minutes ago, GawnUpBy? said:

And hopefully the offer takes McMahon & Dickie with it. 

The Outgoing Chairman will be gone. If this fails (as it should, imho) then I imagine several others will have no choice but to resign.

[texanwellfan]

2 minutes ago, smeddum07 said:

 

But they have shown zero actual ability to increase cash flow and as the statement says relegation would be curtains for the club and without Kettlewell we would have gone down this year.

 

Invested in well society since the start and get pretty much nothing back. This is serious money coming into the club (haven’t heard of any other offers) while keeping the assets defended.
 

dont want to hear anyone complaining about signings or us just spinning our wheels if this is rejected.  

I don’t consider 2 million over 6 years as serious money but maybe that’s just me. 

[StirlingDosser]

I understand the apprehension but the reality of the Well Society is summed up here. Today's details have not come out the blur yet here they are once again asking the fans to trust them to come up with an alternative AFTER they vote against the only offer on the table. For me it's all a tale of too little too late from the WS...the organisation have done absolutely nothing of note since taking the majority shareholding and are now all talk when that position is put up for debate. 

I would back this if I had a vote for the simple reason it diversifies the ownership and this is more income than the club is likely to get from the society. The clubs assets aren't touchable which will therefore of impacted the value whilst also giving some security. It may not be the big money but certainly it's bringing in some investment and some expertise. 

[FirParkCornerExile]

9 minutes ago, texanwellfan said:

I don’t consider 2 million over 6 years as serious money but maybe that’s just me. 

Well yes that is correct but that's only the money to acquire the club. The expectation is their business model will generate far more cash than we currently generate. Whether that happens or not who knows,  but the £2 million is the purchase price not the expected cash generation, and that's the problem. Neither the Well Society or Investment team can tell us what they will generate. If the new investors could generate serious money it could be worth it. However that cannot be guaranteed. The WS are unlikely to come up with anything that generates serious money or they'd have done it before now surely. Some fans will be happy at that as they see it as no risk plodding along. You pay your money you takes your choice.

[bobbybingo]

4 minutes ago, StirlingDosser said:

It may not be the big money but certainly it's bringing in some investment and some expertise. 

What expertise in running a football club is it bringing in?

[wellfan]

3 minutes ago, StirlingDosser said:

I understand the apprehension but the reality of the Well Society is summed up here. Today's details have not come out the blur yet here they are once again asking the fans to trust them to come up with an alternative AFTER they vote against the only offer on the table. For me it's all a tale of too little too late from the WS...the organisation have done absolutely nothing of note since taking the majority shareholding and are now all talk when that position is put up for debate. 

I would back this if I had a vote for the simple reason it diversifies the ownership and this is more income than the club is likely to get from the society. The clubs assets aren't touchable which will therefore of impacted the value whilst also giving some security. It may not be the big money but certainly it's bringing in some investment and some expertise. 

This view is fair enough, but I don't think selling the majority ownership of the Club (or diversifying the ownership, as you put it) for less than the value of Lennon Miller, for example, is anywhere close to being acceptable.

Just because the Well Society has been shite for a while doesn't mean the Club should be sold to the lowest bidder. I'm also all for diversifying the ownership, but that would only be if a transformative offer is on the table, which it is not. 

[Throughthelaces]

I’ll vote for it for the simple reason I love the club and want a competitive team on the field. I’m also unhappy with how directionless the club has been since burrows left and how long our search for a CEO took. If I’m honest I’d be surprised if the well society are voted out but I do want it to be a close enough vote they maybe start getting serious and making changes to our footballing operations for the better.

[FirParkCornerExile]

Just now, wellgirl said:

Well yeah. People can vote as they please but if the well society are saying no to this - then do they have their own proposal? Sure it was said a couple of months ago they were working on one. Folk need to vote as they see fit. I haven't looked at the statement yet but I'm not going to be voting yes or no based on what the well society think or what folks elsewhere think. 

A reasonable response. 

[Kmcalpin]

1 hour ago, steelman1991 said:

Whats' equally worrying is that 3 of the WS Board actually voted to accept this pile of shit.

Having skimmed through Jim McMahon's statement and the Well Society email, I'm equally baffled by both, for different reasons. I raised the issue of potential conflict of interest some time ago, but no one bar a couple of posters (and they know who they are) seemed to think it an issue.