Press Conference called for midday

Jethro wrote:

Doesn't Hallett think Nools a bellend or is it an urban myth ?

On highest authority I can have and I quote " believes he's a right chancer" read into that what you want but confirms to me that Hallett cant stand the        any more than most here....... He was always going to get his tail chopped when Brent started to lose control and thats whats happening right now in all but name. Brent is Potless at least even the brown nosers on the farm must finally accept it

Freathy wrote:

tigertony wrote:

I know that this news sort of urinates on your fireworks but why can't you all just accept the fact that this guy is a very well-off Argyle fan.

Is that why with all the FA Cup and Nelson money DA has no transfer budget to save our season

If he is the big life long argyle fan as claimed why didnt he step up when we went tits up in the first place then???? Explain that plus if you think a american investment company is gunna invest in little argyle for the love of it your more insane than i thought you are tiger cos thats really where the moneys coming from via life long si but hay ho your entitled your opinion but not for me

I'd only get told off if I used the T option..........

RegGreen wrote:

Freathy wrote:

tigertony wrote:

I know that this news sort of urinates on your fireworks but why can't you all just accept the fact that this guy is a very well-off Argyle fan.

Is that why with all the FA Cup and Nelson money DA has no transfer budget to save our season

If he is the big life long argyle fan as claimed why didnt he step up when we went tits up in the first place then???? Explain that plus if you think a american investment company is gunna invest in little argyle for the love of it your more insane than i thought you are tiger cos thats really where the moneys coming from via life long si but hay ho your entitled your opinion but not for me

Maybe he wasn't in a position to do anything at the time.

RegGreen wrote:

Freathy wrote:

tigertony wrote:

I know that this news sort of urinates on your fireworks but why can't you all just accept the fact that this guy is a very well-off Argyle fan.

Is that why with all the FA Cup and Nelson money DA has no transfer budget to save our season

If he is the big life long argyle fan as claimed why didnt he step up when we went tits up in the first place then???? Explain that plus if you think a american investment company is gunna invest in little argyle for the love of it your more insane than i thought you are tiger cos thats really where the moneys coming from via life long si but hay ho your entitled your opinion but not for me

The statement says the 4Mil is coming from Si and Mrs Si. Not his investment company. Take that as you will.

Good point about admin though, but guess we could've said that about anyone who invested in Argyle after the event.

harvetheslayer wrote:

Jethro wrote:

Doesn't Hallett think Nools a bellend or is it an urban myth ?

On highest authority I can have and I quote " believes he's a right chancer" read into that what you want but confirms to me that Hallett cant stand the        any more than most here....... He was always going to get his tail chopped when Brent started to lose control and thats whats happening right now in all but name. Brent is Potless at least even the brown nosers on the farm must finally accept it

Newell was sat next to Hallett at the televised Newport replay. Make no mistake Newell knows exactly which way the wind is blowing.

Given the way that Brent and the Nooligans disparaged AFT Grandstand Working Group's previous suggestion and generally treated anybody involved with disdain, ridicule, contempt, lack of professionalism and the rest I wonder how many of them would be happy to offer the club their expertise pro bono once again?

nzgreen wrote:

Three good things for me:

1. Looks like our Si has actual, real - not make believe, not someone else's but real - money, of his own, that he wants to spend on the club.

2. Whatever gets built / refurbished won't be forever boxed in by hotels, roads, ice rinks, and all that other crap.

3. Brentxit looks more likely.

Foreshore.

I'm not so sure that Brenxit is more likely.

Two things leap out of this:

1) Once more Brent has found somebody else to pay for something that increases his asset value;
2) Brent retains 50.1% and effective control.

It's the 50.1% and the breakdown of the £5m that puzzles. I just heard Brent on Radio Devon refer to it as £5m investement. Well it isn't, is it? Not in any meaningful sense. It's a £4.1m loan and £900K investment.

This immediately saddles the club with another £4.1m debt to replace the existing debt. We're not actually any better off. In fact what we have been led to believe was interest-free debt that wasn't going to be called in has been called in and is now acquiring interest.

So why the 4.1m/900K breakdown? That looks very much as though Hallett was willing to bung in £5m regardless with appropriate share redistribution and Brent was only willing to allow so much redistribution of those shares. Not the action of a man looking to sever links by my reckoning.

Sir Francis Drake wrote:

Using: [You must be registered and logged in to see this link.]

On a full repayment basis (not interest only) £5m over 30 years @ 3% will mean monthly repayments of £21,258.02 which equates to £255,096.24 per annum.

How much were we paying in rent? £140,000 or so?

Looks to me as though owning our own ground is actually going to cost us £100K+ per year above what we were paying in rent.

I thought it was going to save us money?

The number is 4.1m - the rest is coming from share purchases, not
loans.

You're also comparing apples with oranges. The rental amount was due on the stadium, irrespective of the state it is in....so not one lick of paint and it stays the same....except it would have risen if Argyle go through the leagues.

Stadium improvement, if not a giveaway by the local authority, had to be funded from somewhere. To argue that Hallett isn't providing the funding at below commercial rates would be disingenuous. It might not be perfect but it's broadly good news.

Sir Francis Drake wrote:

I'm not so sure that Brenxit is more likely.

Two things leap out of this:

1) Once more Brent has found somebody else to pay for something that increases his asset value;
2) Brent retains 50.1% and effective control.

It's the 50.1% and the breakdown of the £5m that puzzles. I just heard Brent on Radio Devon refer to it as £5m investement. Well it isn't, is it? Not in any meaningful sense. It's a £4.1m loan and £900K investment.

This immediately saddles the club with another £4.1m debt to replace the existing debt. We're not actually any better off. In fact what we have been led to believe was interest-free debt that wasn't going to be called in has been called in and is now acquiring interest.

So why the 4.1m/900K breakdown? That looks very much as though Hallett was willing to bung in £5m regardless with appropriate share redistribution and Brent was only willing to allow so much redistribution of those shares. Not the action of a man looking to sever links by my reckoning.

The negatives are in your Point 1. I agree with it.

The rest is scrabbling for negatives. The interest free debt has been 'repaid' through conversion to equity. Yes, that can go up in value but it can also go down, so the risk is now more on the shareholders, in that sense.

Yes, there is new debt in the shape of the 4.1m but where did you think the money for improved infrastructure was going to come from? Pixie dust?

Czarcasm wrote:

nzgreen wrote:

Three good things for me:

1. Looks like our Si has actual, real - not make believe, not someone else's but real - money, of his own, that he wants to spend on the club.

2. Whatever gets built / refurbished won't be forever boxed in by hotels, roads, ice rinks, and all that other crap.

3. Brentxit looks more likely.

Foreshore.

Agree....though not sure Point 3 is true. Time will tell.

Angry wrote:

My two slim hopes with Hallett over this new stand and pending ownership are as follows

1) That the new stand be built with the future ambitions of the club in mind and not land locked in like brent's idea of a stand was which stunts the growth of the club. As there will be a conference hall and posh canteen bulit alongside the stand i would also like to known that If it is a smaller stand than what we hope for and for the record a total capacity with the new stand should be 25000 minimum then i could live with that providing that will there be a guarantee that the new stand can be expanded/extended to take the club's capacity to over 30000 if required.

2) ass kissers and internet trolls like de liar, plebb and nool be kept far away from the club's directors box and all perks taken from them.

It's not a new stand though, it's a refurb. 25K is pie in the sky, especially with only 5m. I'd be happy with 20K and the plans making it possible to add later.

Agree with 2. The sycophancy is cringeworthy.

Innocent Egbunike wrote:

Sir Francis Drake wrote:

I'm not so sure that Brenxit is more likely.

Two things leap out of this:

1) Once more Brent has found somebody else to pay for something that increases his asset value;
2) Brent retains 50.1% and effective control.

It's the 50.1% and the breakdown of the £5m that puzzles. I just heard Brent on Radio Devon refer to it as £5m investement. Well it isn't, is it? Not in any meaningful sense. It's a £4.1m loan and £900K investment.

This immediately saddles the club with another £4.1m debt to replace the existing debt. We're not actually any better off. In fact what we have been led to believe was interest-free debt that wasn't going to be called in has been called in and is now acquiring interest.

So why the 4.1m/900K breakdown? That looks very much as though Hallett was willing to bung in £5m regardless with appropriate share redistribution and Brent was only willing to allow so much redistribution of those shares. Not the action of a man looking to sever links by my reckoning.

The negatives are in your Point 1. I agree with it.

The rest is scrabbling for negatives. The interest free debt has been 'repaid' through conversion to equity. Yes, that can go up in value but it can also go down, so the risk is now more on the shareholders, in that sense.

Yes, there is new debt in the shape of the 4.1m but where did you think the money for improved infrastructure was going to come from? Pixie dust?

Agree with (b) hence Brents promise of a 'free' ten million pound ministand was never gonna happen.......

Be interesting to see how/where Brent builds a new ice rink, my bet is threaten to stall the Boulevard and get PCC to remove the requirement for ice.

Sir Francis Drake wrote:

I'm not so sure that Brenxit is more likely.

Two things leap out of this:

1) Once more Brent has found somebody else to pay for something that increases his asset value;
2) Brent retains 50.1% and effective control.

It's the 50.1% and the breakdown of the £5m that puzzles. I just heard Brent on Radio Devon refer to it as £5m investement. Well it isn't, is it? Not in any meaningful sense. It's a £4.1m loan and £900K investment.

This immediately saddles the club with another £4.1m debt to replace the existing debt. We're not actually any better off. In fact what we have been led to believe was interest-free debt that wasn't going to be called in has been called in and is now acquiring interest.

So why the 4.1m/900K breakdown? That looks very much as though Hallett was willing to bung in £5m regardless with appropriate share redistribution and Brent was only willing to allow so much redistribution of those shares. Not the action of a man looking to sever links by my reckoning.

that's the way I read it, green Jimmy hasn't put in anything here. As you say he will have an increased asset value and therefore won't be in a hurry to move on.He still has a controlling stake unfortunately for all of us.

nzgreen wrote:

RegGreen wrote:

Freathy wrote:

tigertony wrote:

I know that this news sort of urinates on your fireworks but why can't you all just accept the fact that this guy is a very well-off Argyle fan.

Is that why with all the FA Cup and Nelson money DA has no transfer budget to save our season

If he is the big life long argyle fan as claimed why didnt he step up when we went tits up in the first place then???? Explain that plus if you think a american investment company is gunna invest in little argyle for the love of it your more insane than i thought you are tiger cos thats really where the moneys coming from via life long si but hay ho your entitled your opinion but not for me

The statement says the 4Mil is coming from Si and Mrs Si. Not his investment company. Take that as you will.

Good point about admin though, but guess we could've said that about anyone who invested in Argyle after the event.

Thats why there making a big thing about it thats its coming from him & his mrs it nips it in the bud then it stops more awkward questions about the his investment company where i think the moneys really coming from but hey iam just a old cynic me but this is argyle were talking about nothing is ever as straight forward

tigertony wrote:

I know that this news sort of urinates on your fireworks but why can't you all just accept the fact that this guy is a very well-off Argyle fan.

How can you can describe it as a 'fact' when you don't know Jack Shit about him or his motives?

Here's why I don't

1. Nobody has heard of him before despite him being a 'lifelong fan'. Wasn't Keith Todd a life long fan too
2. Nobody knows where the £4.1 million comes from, is it really his or is he fronting an investment fund?
3. Why despite all this great news and unbudgeted revenue is Derek Adams still shopping in the bargain bin?
4. Why invest now, why not wait until the grandstand plan has been given planning permission?

Absolutely every recent bit of 'good news' around around Argyle has turned out to be a total crock of shit. You might be so weak minded as to lap it up at face value but excuse me if don't.

Stick to the shit banter.

'E luvs 'ees bantz :-)

I'd agree with Innocent that this is broadly good news. If Brent cashes out his shares now at the £3.5m valued, he'll have done very nicely out of it. My guess is that only a crazy person would hand over that money now, but the might, if we have a refurbished stand, additional earning potential, and a steady spot in the third tier. Might we see some investment in the team? I won't hold my breath.

It'll be interesting to see what we do with the terrace. Am I being wildly optimistic to hope that Argyle will be forward-thinking enough to go for safe standing? What intrigues me is what they are classing as preserving the ability to increase in the future. I'm guessing that they just won't hem the grandstand in, so they always have the option of knocking down and rebuilding later. Or they won't develop the corners, and call that room for expansion? We'll see, I guess.

Don't think I'll send my CV in. That sounds like lots of work, limited real input, and heaps of abuse from your fellow supporters. Good luck to anyone who does though!

I guess fans are expected to work for free, Brent wont.........

Hugh Watt wrote:

tigertony wrote:

I know that this news sort of urinates on your fireworks but why can't you all just accept the fact that this guy is a very well-off Argyle fan.

How can you can describe it as a 'fact' when you don't know Jack Shit about him or his motives?

Here's why I don't

1. Nobody has heard of him before despite him being a 'lifelong fan'. Wasn't Keith Todd a life long fan too
2. Nobody knows where the £4.1 million comes from, is it really his or is he fronting an investment fund?
3. Why despite all this great news and unbudgeted revenue is Derek Adams still shopping in the bargain bin?
4. Why invest now, why not wait until the grandstand plan has been given planning permission?

Absolutely every recent bit of 'good news' around around Argyle has turned out to be a total crock of shit. You might be so weak minded as to lap it up at face value but excuse me if don't.

Stick to the shit banter.

Hugh Watt wrote:

tigertony wrote:

I know that this news sort of urinates on your fireworks but why can't you all just accept the fact that this guy is a very well-off Argyle fan.

How can you can describe it as a 'fact' when you don't know Jack Shit about him or his motives?

Here's why I don't

1. Nobody has heard of him before despite him being a 'lifelong fan'. Wasn't Keith Todd a life long fan too
2. Nobody knows where the £4.1 million comes from, is it really his or is he fronting an investment fund?
3. Why despite all this great news and unbudgeted revenue is Derek Adams still shopping in the bargain bin?
4. Why invest now, why not wait until the grandstand plan has been given planning permission?

Absolutely every recent bit of 'good news' around around Argyle has turned out to be a total crock of shit. You might be so weak minded as to lap it up at face value but excuse me if don't.

Stick to the shit banter.

While I'd agree that any optimism needs to be cautious at this stage, I'm not sure any fund is going to be investing in Argyle for a 3% return, are they? I guess some funds might figure that that, plus a potential rise in value of an asset they can cash in on would be worth it, but that plan revolves around getting Argyle to a league and infrastructure position where they can cash in on it. It remains to be seen, but my gut feeling is that this a wealthy individual taking a punt, at this stage.

And I don't see the plans being turned down. If they are refurbing the existing stand, re-opening the terrace, and building a couple of small-ish buildings on their own land, with their 'own' money, it's going to get waved through.

PatDunne wrote:

I guess fans are expected to work for free, Brent wont.........

If he cashes out now, does £3.5M over 5 years make him our record salary beating MPenza?

Innocent Egbunike wrote:

Sir Francis Drake wrote:

Using: [You must be registered and logged in to see this link.]

On a full repayment basis (not interest only) £5m over 30 years @ 3% will mean monthly repayments of £21,258.02 which equates to £255,096.24 per annum.

How much were we paying in rent? £140,000 or so?

Looks to me as though owning our own ground is actually going to cost us £100K+ per year above what we were paying in rent.

I thought it was going to save us money?

The number is 4.1m - the rest is coming from share purchases, not
loans.

You're also comparing apples with oranges. The rental amount was due on the stadium, irrespective of the state it is in....so not one lick of paint and it stays the same....except it would have risen if Argyle go through the leagues.

Stadium improvement, if not a giveaway by the local authority, had to be funded from somewhere. To argue that Hallett isn't providing the funding at below commercial rates would be disingenuous. It might not be perfect but it's broadly good news.

Until very recently PCC was prepared to spend money on the stadium. It all fell through because they expected Brent to do the same and he wasn't prepared to since when the freehold has been sold and now it is all different. I honestly don't see that as Pixie Dust. That's more like owner and occupier combining to meet their mutual interests from where I sit.

Running the same figures through at £4.1m:


On a full repayment basis (not interest only) £5m over 30 years @ 3% will mean monthly repayments of £17431.58 which equates to £209,178.96 per annum. Still comfortably more than the rent.

What about the car park, paid £400k valued at £800k is that Brents as well.... Janners, like taking candy from a baby, thank 'e Lord.....