Trust chief hopes Watkins stays after Town takeover (From Swindon Advertiser)

I agree with his comments i think Watkins is a good guy for the club and should be kept in his current role.
Lets hope this can all get concluded by the end of the month so we can all move on to better things and concentrate on what is going on on the pitch and support PDC and the team.

Yes agree yet a lot will depend on who the investors are.I thinkif AF and JW were leading this group of new investors I would think he will stay as he is a stable type of guy and done a good job.
If however maybe the new people would have there own ideas,like us all hope this is resolved asap

Agreed!

I don't have anything against Nick Watkins but how many times have people been on here saying how much better the food could be in the ground and how much better the club could market itself. Does this come under the chief executives remit?

It's up to the whoever buys the Town to agree if they keep Watkin,I would think they'll want their own man,Watkin will be history just like Patey.

This came from a work colleague who has business dealings with STFC and got the following from an inside source. Of course neither he nor I can vouch for the authenticity of the comment but it the club would be debt free - i.e it would be good if the £1 sale bit is right because that would mean AB dosen't want his £13m back.

"Nick Watkins is arranging the sale ( but had to be taken into hospital ) but the intention is next week. He has told everyone at the club not to worry everything is in hand.

Andrew Black is prepared to sell the club for £1 so long as the new owners will take on the day to day bills – so forget the £13M debt red herring – basically they will inherit a debt free club for a quid !

No news on who but “ wouldn’t be surprised and delighted” if it’s JWray.

BBC wilts sat on the story for a week and Chris Wise’s bosses forced him to run it. Club has no problem with the radio but little time for the Adver ! "" end quote.



"

The Jockster wrote:
This came from a work colleague who has business dealings with STFC and got the following from an inside source. Of course neither he nor I can vouch for the authenticity of the comment but it the club would be debt free - i.e it would be good if the £1 sale bit is right because that would mean AB dosen't want his £13m back.

"Nick Watkins is arranging the sale ( but had to be taken into hospital ) but the intention is next week. He has told everyone at the club not to worry everything is in hand.

Andrew Black is prepared to sell the club for £1 so long as the new owners will take on the day to day bills – so forget the £13M debt red herring – basically they will inherit a debt free club for a quid !

No news on who but “ wouldn’t be surprised and delighted” if it’s JWray.

BBC wilts sat on the story for a week and Chris Wise’s bosses forced him to run it. Club has no problem with the radio but little time for the Adver ! "" end quote.



"

Would be great if this is true. Having said that, I would have thought that the least the new owners would be expected to do was cover the cost of the day to day running of the club!

Also why would the club have little time for the Adver?

BBC Sport website showing tomorrows game off due to frozen pitch.

RogerJ1969 wrote:
BBC Sport website showing tomorrows game off due to frozen pitch.

Just heard that as well, Typical small club unable to get covers on the pitch, Weather has been far worse down here.

Game off - Tin pot.

The thing is AB can't write off the total £13m as he is not owed all that money!
.
It is clearly sated in another article that AF is owed £3m
.
We also know JW and Sir Arbib are also owed money (Sir Arbib was min £1m as at the last set of accounts as that was direct to the club not via STFC Holdings)
.
So for the new investors to inherit a debt free club ALL of them have to agree to a write off
.
This is what the plea to AF was by PdC as it sounded like JW and Sir Arbib were already on board with a write off
.
Personally I would like them to exchange their loans in STFC holdings for Shares in STFC Holding (so each has the relevant percentage based on total amounts owed)
.
That way they then would all own part of the 98% owned in STFC
.
STFC can then wipe out the debt part and the shares could be sold on for £1
.
Then all still own x% of STFC via STFC Holdings - so if the new owners do take us onwards and upwards all of them still have a chance to see a return at some point - as that is the least they deserve for saving us and handing us over in an excellent position for the new guys to run with

The Jockster wrote:
This came from a work colleague who has business dealings with STFC and got the following from an inside source. Of course neither he nor I can vouch for the authenticity of the comment but it the club would be debt free - i.e it would be good if the £1 sale bit is right because that would mean AB dosen't want his £13m back. "Nick Watkins is arranging the sale ( but had to be taken into hospital ) but the intention is next week. He has told everyone at the club not to worry everything is in hand. Andrew Black is prepared to sell the club for £1 so long as the new owners will take on the day to day bills – so forget the £13M debt red herring – basically they will inherit a debt free club for a quid ! No news on who but “ wouldn’t be surprised and delighted” if it’s JWray. BBC wilts sat on the story for a week and Chris Wise’s bosses forced him to run it. Club has no problem with the radio but little time for the Adver ! "" end quote. "

I'm afraid I don't 'buy' this scenario. You sell a company for £1 with all its debts when the creditors are third parties - what you are doing is basically giving the business away, but ridding yourself of the debt, which becomes the burden of the new owner. This makes no sense if the debt is mostly to yourself! It's being suggested that AB will just basically wave goodbye to £13m - or however much is his. I think Administration is more likely than that, because then he will get something back.

London Red wrote:
The thing is AB can't write off the total £13m as he is not owed all that money!
.
It is clearly sated in another article that AF is owed £3m
.
We also know JW and Sir Arbib are also owed money (Sir Arbib was min £1m as at the last set of accounts as that was direct to the club not via STFC Holdings)
.
So for the new investors to inherit a debt free club ALL of them have to agree to a write off
.
This is what the plea to AF was by PdC as it sounded like JW and Sir Arbib were already on board with a write off
.
Personally I would like them to exchange their loans in STFC holdings for Shares in STFC Holding (so each has the relevant percentage based on total amounts owed)
.
That way they then would all own part of the 98% owned in STFC
.
STFC can then wipe out the debt part and the shares could be sold on for £1
.
Then all still own x% of STFC via STFC Holdings - so if the new owners do take us onwards and upwards all of them still have a chance to see a return at some point - as that is the least they deserve for saving us and handing us over in an excellent position for the new guys to run with

That could be why Mr Black as threatened Admin,to get Mr Fitton to take a big loss on his cut London Red,saying if you don't he'll put it into Admin then you have to take a big loss.

AB has more things on his mind than STFC with more money at stake so it could be he writes his money off which i dont think he will as he has said he wants to sell the majority of his share holding which will mean he will still be a share holder. It all depends on the agreement they come up with between themselves whoever the new investors are but wouldnt be surprised to see JW and AF back in some capacity as there all making noises which makes you think they are involved somewhere alaong the line.

Mike - I responded to that on the other thread
.
I suggested that the day the Admin storey broke as people were saying how could it benefit anyone
.
However - I don't think it will come to that as Admin benefits no one - surely it is easier just to agree the same percentage upon takeover and not take a 10 point hit!
.
He can write off the debt as a loss - but retain a shareholding (as could the others) and then see some paisd back in the future if the club start to make a profit
.
wiping out the debt would pratically put our shareholders equity back to nil - so it would not take many years of profit to make it positive
.
Once positive then dividends or buybacks can occur so AB and co could start to finally see a return - or reduction of loss

Write off the debt @ whatever the ammount may be & it goes on your tax return which will mean your company hasn't made as much profit so you pay less tax . So it's not all bad is it.

Stilloyal wrote:
Write off the debt @ whatever the ammount may be & it goes on your tax return which will mean your company hasn't made as much profit so you pay less tax . So it's not all bad is it.

P.S I hope Watkins stays on board, as for the catering would that be down to the stadium manager ? surely it's not the function of a CEO !

The Jockster wrote:
This came from a work colleague who has business dealings with STFC and got the following from an inside source. Of course neither he nor I can vouch for the authenticity of the comment but it the club would be debt free - i.e it would be good if the £1 sale bit is right because that would mean AB dosen't want his £13m back.

"Nick Watkins is arranging the sale ( but had to be taken into hospital ) but the intention is next week. He has told everyone at the club not to worry everything is in hand.

Andrew Black is prepared to sell the club for £1 so long as the new owners will take on the day to day bills – so forget the £13M debt red herring – basically they will inherit a debt free club for a quid !

No news on who but “ wouldn’t be surprised and delighted” if it’s JWray.

BBC wilts sat on the story for a week and Chris Wise’s bosses forced him to run it. Club has no problem with the radio but little time for the Adver ! "" end quote.



"

In your OWN words of old!...Name your / your colleague's source!....although I doubt you will.

London Red wrote:
Mike - I responded to that on the other thread
.
I suggested that the day the Admin storey broke as people were saying how could it benefit anyone
.
However - I don't think it will come to that as Admin benefits no one - surely it is easier just to agree the same percentage upon takeover and not take a 10 point hit!
.
He can write off the debt as a loss - but retain a shareholding (as could the others) and then see some paisd back in the future if the club start to make a profit
.
wiping out the debt would pratically put our shareholders equity back to nil - so it would not take many years of profit to make it positive
.
Once positive then dividends or buybacks can occur so AB and co could start to finally see a return - or reduction of loss

Personally I can only guess at what is happening here but like many I'm certain that this is a political power broker issue in which it is the board who are all discussing between each other who should lose what percentage of their share-holding.
....
I doubt that this would be an issue unless some of the old shareholders were part of the solution....tough times and tough discussions but I'm sure they'll get the right answer.
....
On another note - Just how bad are Tranmere's groundsmen to be one of only two matches called of when temperatures have not dipped below -2 for any length of time and with +6 predicted for tomorrow - regardless of snow!?
----
Running scared!?.....or trying to set up a money earner through Sky by playing a top of the table clash on a quiet Tuesday night!?

RamsburyRed wrote:

The Jockster wrote: This came from a work colleague who has business dealings with STFC and got the following from an inside source. Of course neither he nor I can vouch for the authenticity of the comment but it the club would be debt free - i.e it would be good if the £1 sale bit is right because that would mean AB dosen't want his £13m back. "Nick Watkins is arranging the sale ( but had to be taken into hospital ) but the intention is next week. He has told everyone at the club not to worry everything is in hand. Andrew Black is prepared to sell the club for £1 so long as the new owners will take on the day to day bills – so forget the £13M debt red herring – basically they will inherit a debt free club for a quid ! No news on who but “ wouldn’t be surprised and delighted” if it’s JWray. BBC wilts sat on the story for a week and Chris Wise’s bosses forced him to run it. Club has no problem with the radio but little time for the Adver ! "" end quote. "

I'm afraid I don't 'buy' this scenario. You sell a company for £1 with all its debts when the creditors are third parties - what you are doing is basically giving the business away, but ridding yourself of the debt, which becomes the burden of the new owner. This makes no sense if the debt is mostly to yourself! It's being suggested that AB will just basically wave goodbye to £13m - or however much is his. I think Administration is more likely than that, because then he will get something back.

May be AB just wants to stop bailing out the club on a day to day basis and not have any of the 13m back. His gain may be not pumping any more money into it.

If he wants nothing back then this is a likely senario.

dreamofacleansheet2 wrote:
I don't have anything against Nick Watkins but how many times have people been on here saying how much better the food could be in the ground and how much better the club could market itself. Does this come under the chief executives remit?

Are you joking mate?

SAPFanSTFC wrote:

The Jockster wrote:
This came from a work colleague who has business dealings with STFC and got the following from an inside source. Of course neither he nor I can vouch for the authenticity of the comment but it the club would be debt free - i.e it would be good if the £1 sale bit is right because that would mean AB dosen't want his £13m back.

"Nick Watkins is arranging the sale ( but had to be taken into hospital ) but the intention is next week. He has told everyone at the club not to worry everything is in hand.

Andrew Black is prepared to sell the club for £1 so long as the new owners will take on the day to day bills – so forget the £13M debt red herring – basically they will inherit a debt free club for a quid !

No news on who but “ wouldn’t be surprised and delighted” if it’s JWray.

BBC wilts sat on the story for a week and Chris Wise’s bosses forced him to run it. Club has no problem with the radio but little time for the Adver ! "" end quote.



"

In your OWN words of old!...Name your / your colleague's source!....although I doubt you will.

Ian I did say I couldn't vouch for the authenticity of the comment it may be well off beam but wouldnt it be good if the rationale behind it was essentially correct. LR once again explains eloquently why it may not be so and I'll always bow to someone else's expertise in a certain area and LR is the número UNO numbers man.

As a bit of a gambler I'd say your real motive here in your response was to take the opportunity to have yet another pop at moi but hey like I've said before I've got broad shoulders. IMO Just a shame you still feel the need to get personal on occasions like here & ala Terrier yesterday.
Nevertheless have a good weekend despite another game off with the frustration that our rivals can draw further away. Roll on Orient off up there but not buying train ticket till its deffo on - o's fan here reckons could've off again for w/logged pitch.

Not sure what opinion I've got of Nick Watkins and its not that clear to me what John Ward's endorsement of him is aiming to achieve.

As ever, much of the explanation probably lies in things that we just don't know.

Up until recently I haven't been impressed with NW simply due to his
anonymity but he has returned to the public eye much more recently and it is always difficult for a CE to shine in football when you have very visible managers and Chairmen.

The implication of JW is that NW is a
fixer, a man who sorts it out behind the scenes, and a man who will presumably be prepared to broker a stronger link with the fans.

If that's the case then I'd back him.

As for the food on offer at the CG, it strikes me as about the same as everywhere else, distinctly average and limited in choice. If this was the key factor I'd be hoping for a buyout by an Asian consortium who could introduce take-away stir fry's and dim sum with my Oxo.

Jock - I don't doubt that AB is willing to simply hand it over if someone will continue the project - just pointing out he can't simply do that without administration and even then that won't wipe it all out
.
Think all 4 original investors realise most if not all is lost if they don't sell so will be happy to do a deal as even £1 is better than nil or worse more outflows!

LR thanks no problem and its good to have someone on here who is on the ball lol! when it comes to football finances.

I think at the end of the day we'll all be happy if we can avoid the nerve jangling scenario that preceded the dutton take over.

London Red wrote:
Jock - I don't doubt that AB is willing to simply hand it over if someone will continue the project - just pointing out he can't simply do that without administration and even then that won't wipe it all out
.
Think all 4 original investors realise most if not all is lost if they don't sell so will be happy to do a deal as even £1 is better than nil or worse more outflows!

Trouble is, we're guessing here about what AB and possibly other shareholders want back. I've seen nothing to suggest they will just walk away from what they've put into the club. Just the opposite; I'm pretty sure they want something back; and why not, if new owners consider the club worth taking on.

Been down to Matalan today to top up the stocks of wait for it YYYYEEEESSS you guessed! its SOCK time again and I am taking no chances having mine blown off. Exciting times these and four consortiums in the mix and one uk based leading the way. Like it all to get rapped up quickly so Paolo can bring in another ten players. Two back up keepers, cover for Hollands, four out and out goalscorers a winger, a full back and a midfield clogger who likes kicking ball boys.

Having given the whole subject thought rather than desire and gut reaction, it would make sense for NW to be in place for any transitional period anyway.
On a personal basis I hope he keeps the job on the grounds that he impresses whoever he is in talks with.
Ultimately the new owners have it as their right to instal who they wish as Chief Exec, but most would put a value on the short term continuity that is needed to carry the business forward.
Who ever comes in I just hope they have long term positive objectives on and off the field of play in the spirit of Black Fitton and Wray all of whom have been successful in the regeneration of our club. I would prefer British owners as they seem to have a finer grasp of how we perceive things but beggars cannot be choosers, but I do trust Black to do us proud over the longer term as it is evident that is what he is now here for.