Press Conference called for midday

Thankfully none of this 'redevelopment' will ever happen.

BRENT AND HALLET OUT NOW

sufferedsince 68 wrote:

Coxside_Green wrote:

We can't even demand a 20k stadium ffs.  A £4.1m loan seems quite an accurate number, clearly no leeway unlike a £4-4.5m loan would offer.  Any fan consultation is clearly aimed at free advice on how further to save on their already abysmal plan which they're too embarrassed to release details already.

The village football club are going to have a village renovation. luckily no dates or plans so it probably more pie in the sky bollocks from the local specialists.

I actually think this does have legs and Super Sunday Si who saw highlights V Arsenal knows what he's doing. It'll be shit, super shit, but he'll get something done.

sufferedsince 68 wrote:

Coxside_Green wrote:

We can't even demand a 20k stadium ffs.  A £4.1m loan seems quite an accurate number, clearly no leeway unlike a £4-4.5m loan would offer.  Any fan consultation is clearly aimed at free advice on how further to save on their already abysmal plan which they're too embarrassed to release details already.

The village football club are going to have a village renovation. luckily no dates or plans so it probably more pie in the sky bollocks from the local specialists.

Looking at the bbc, it would appear it might be a cut down version of the original ministand plan, but with different funding. As usual, next to no real detail, apart from what matters, the passing of money between two investment portfolio sorts. I'm with Tringreen. They can all clap together.

Where does HHP fit into all this?  Jimmy's obligation as part of that deal was a free stand or 50% of any uplift in value.  I hope this isn't forgotten.

I suppose the exchange of shares changes things. Screwed over again before we're even started.

Spotlight had a rather amusing piece time-stamping all the occasions down the years when Brent has announced failed development plans.

Could somebody tell me (cos I am thick) how much money there is for the refurb.

If you take the emotion of Brent eventually cashing in with his money back and then some for risking feck all, I think we may have accidentally landed on something ok here. The inability of all
concerned to get a new stand off the ground means the old girl gets a makeover. Prepared to wait and see what the plans are.

If the capacity increases, there is scope for more in future and it's done properly it could be a decent start. All my favourite grounds have been redeveloped, rather than razed and rebuilt. Bramall Lane springs to mind, Loftus Road too. With the horseshoe in place, it's too late for HP on that score but a retention of the Mayflower in some form might mean the ground retains some character....a bit like a keg craft beer - not quite real ale but better than Carlsberg.

Mind you, this is Argo...

PatDunne wrote:

Could somebody tell me (cos I am thick) how much money there is for the refurb.

I read it as £5m - the new loan plus the 965K.

Coxside_Green wrote:

Where does HHP fit into all this?  Jimmy's obligation as part of that deal was a free stand or 50% of any uplift in value.  I hope this isn't forgotten.

I suppose the exchange of shares changes things.  Screwed over again before we're even started.

It doesn't, although the elephant in the room is Brent's obligation to provide 'continuous Ice' for the city. So there's the whole Pavilions/Ice rink thing still outstanding.

As always with anything Brentable, there are more questions than answers.

where does the 3 million odd that repays existing loans come from, an issue of shares out of thin air?

Brent now owns 51% of a £7m asset in paper share terms if you accept their £1 a share valuation. Not bad for a 'company' which hasn't gone anywhere in 6 years.

I accepted some time ago this would be a nasty by-product of us moving forward. Understand that some
can't.

PatDunne wrote:

where does the 3 million odd that repays existing loans come from, an issue of shares out of thin air?

Basically, yes.

something like Bank Of England QE? why not just issue 100 million in new shares and go on a spree?

PatDunne wrote:

where does the 3 million odd that repays existing loans come from, an issue of shares out of thin air?

I've read through that statement on the baggo three or four times now, and the phrase that keeps raising its head is 'Smoke and Mirrors' .

I think that the money Hallett is lending is going to repaying money Brent loaned the club. Anything left over will fund the refurbishment of the Grandstand. We''re not getting anything more than the same stand with probably seating on the Mayflower terrace (good thing), better corporate facilities and hopefully toilets that don't make you retch when you use them.

Some poor confused souls on Freechat have put up the picture of the original two tier Grandstand that was part of the failed HHP project. They think that's what we're getting. It's not, it's going to be the old Grandstand with bits added.

The headline figures are being quoted by the sheep on pasoti and Freechat, but once you do a bit of work with the abacus it's clear that there's nowhere near as much money for the refurb as the headlines would have you believe.

Innocent Egbunike wrote:

PatDunne wrote:

where does the 3 million odd that repays existing loans come from, an issue of shares out of thin air?

Basically, yes.

It's Brent proving once again that his real talent is for using other people's money to make money for himself.

Homeslice wrote:

Innocent Egbunike wrote:

PatDunne wrote:

where does the 3 million odd that repays existing loans come from, an issue of shares out of thin air?

Basically, yes.

It's Brent proving once again that his real talent is for using other people's money to make money for himself.

I agree with that

Homeslice wrote:

PatDunne wrote:

where does the 3 million odd that repays existing loans come from, an issue of shares out of thin air?

I've read through that statement on the baggo three or four times now, and the phrase that keeps raising its head is 'Smoke and Mirrors' .

I think that the money Hallett is lending is going to repaying money Brent loaned the club. Anything left over will fund the refurbishment of the Grandstand. We''re not getting anything more than the same stand with probably seating on the Mayflower terrace (good thing), better corporate facilities and hopefully toilets that don't make you retch when you use them.

Some poor confused souls on Freechat have put up the picture of the original two tier Grandstand that was part of the failed HHP project. They think that's what we're getting. It's not, it's going to be the old Grandstand with bits added.

The headline figures are being quoted by the sheep on pasoti and Freechat, but once you do a bit of work with the abacus it's clear that there's nowhere near as much money for the refurb as the headlines would have you believe.

But I don't agree with that.

Hallet's £4.1m plus the 965K is quite clearly distinct from the equity conversion.

With getting on for £3m used to pay off Brent and others, I have only read of £1m roughly available for refurb.
However, the deal has in turn allowed them to create new old fashioned equity that might be able to fund/leverage something, especially when allied to a new revaluation of the property. Quite different to the loans that were owed to Brent. The 30 year £4m "mortgage" at an "expected" 3% ( I doubt that will hold ) will roughly replace the rent previously paid. Expect the interest rate to go through the Devonport roof at some stage.
Smoke and mirrored is about right, and typical finance speak. I prefer good old fashioned magic myself, but there's precious little of that at Home Park.

sufferedsince 68 wrote:

Pafcintheplace wrote:

The unveiling of new nano stand plans, head sycophants De-Loser and brown nose Newell will be creaming themselves

Suprisingly they love it, fully supportive.

They would do as not one of them has an original thought between them are easy to manipulate. Brent has been doing it for years. No doubt both will again claim to speak for all fans even though most disagree and just agree with whatever shit is spouted by brent like a dentist in the corner of the away end for an example.

Freathy wrote:

Thankfully none of this 'redevelopment' will ever happen.

BRENT AND HALLET OUT NOW

Hallet as well! bugger he's the one with some dosh

beesrus wrote:

With getting on for £3m used to pay off Brent and others, I have only read of £1m roughly available for refurb.
However, the deal has in turn allowed them to create new old fashioned equity that might be able to fund/leverage something, especially when allied to a new revaluation of the property. Quite different to the loans that were owed to Brent. The 30 year £4m "mortgage" at an "expected" 3% ( I doubt that will hold ) will roughly replace the rent previously paid. Expect the interest rate to go through the Devonport roof at some stage.
Smoke and mirrored is about right, and typical finance speak. I prefer good old fashioned magic myself, but there's precious little of that at Home Park.

This is a misunderstanding of the transaction. The existing loans to Brent et al have been wiped out by the new shares and conversion to equity. The £4.1m loan by Hallet is new cash, as is the additional 965K by cash purchase of new shares. There is now £5m in cash on the balance sheet. Whether or not it gets spent for the outlined purpose remains to be seen but it is undeniably there

Oh how the sychophantic arselickers are loving this, I'm sure there'll be a new sticky foamy white tributary to the River Tamar before the day is out, a storm surge of the porcine variety from Plympton direction breaking the windows of the wet wok.

Don't be fooled by the blank canvass bullshit, you don't borrow £4million without have a vision of what this stand will look like, and what it will contain.
No mention of capacity of course, that can wait once they ensure the fans consultants board has been finalised. Fill it with thick, dentist craving, cap doffing Yes Men like the mincing unsteady Eddy, the Pooper Scooper, James(on) and the like. They'll be so happy with their re-newed 'status' and self importance, a half arsed third rate low capacity clusterfuck will get waved through no problem.
In fact anything looking too ambitious will be firmly rejected, such is the strength of the 'not for the loikes of us' self sabotaging, cap doffing, inbred nature of the local populace.

The butchering of the grand old lady awaits, buckle up guys, a lip quivering value engineered crumbling shitbox stand awaits.

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Sick buckets at the ready, the arse-licking has begun.

beesrus wrote:

With getting on for £3m used to pay off Brent and others, I have only read of £1m roughly available for refurb.
However, the deal has in turn allowed them to create new old fashioned equity that might be able to fund/leverage something, especially when allied to a new revaluation of the property. Quite different to the loans that were owed to Brent. The 30 year £4m "mortgage" at an "expected" 3% ( I doubt that will hold ) will roughly replace the rent previously paid. Expect the interest rate to go through the Devonport roof at some stage.
Smoke and mirrored is about right, and typical finance speak. I prefer good old fashioned magic myself, but there's precious little of that at Home Park.

How i read it once there payed off it aint even a million i make it £965,000 but as you say more smoke & mirrors
But i would prefer to say its bollox bollox & even more bolloxs

Hugh Watt wrote:

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Sick buckets at the ready, the arse-licking has begun.

The fat pig ain't stupid is he? he can sense the lay of the land is changing at the Theatre of Schemes, needs to butter up the new guy.

He's always been an arselicker. I wonder what treats Hallett will throw his way? James who?