Press Conference called for midday

Innocent Egbunike wrote:

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

That's sort of what I meant, although I did miss the extra £1m given in cash. Didn't see that. But Brent wouldn't have agreed to "morphing" his loans into more vulnerable equity without the cash being injected.

Pafcintheplace wrote:

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.

Speaking of inbred, status craving arselickers, any comment from the President Chris Plebb?

I bet that toothy grinned cnut can't wait to sidle up to mr n mrs hallet on his next visit to the Theatre of Schemes.
Don't forget your ski mask mrs h to protect against the spittle!

Pafcintheplace wrote:

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?

Bumlicking of the highest order by the why there talking about peoples wifes someone better warn life long si about the plebby the wife snatcher

Can Si drive?

RegGreen wrote:

Pafcintheplace wrote:

Hugh Watt wrote:

[You must be registered and logged in to see this image.]

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?

Bumlicking of the highest order by the why there talking about peoples wifes someone better warn life long si about the plebby the wife snatcher

Pack her off to Myrtle Beach quicksmart, Plebby's on the prowl

Another Bumlicking masterclass from Knobber and Greenman.

Pafcintheplace wrote:

RegGreen wrote:

Pafcintheplace wrote:

Hugh Watt wrote:

[You must be registered and logged in to see this image.]

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?

Bumlicking of the highest order by the why there talking about peoples wifes someone better warn life long si about the plebby the wife snatcher

Pack her off to Myrtle Beach quicksmart, Plebby's on the prowl

Double quick smart with the plymouth pouncer about

Amongst all the lurve for Ma and Pa Hallet, and St Jimmy, has anbody asked about the squad and why Adams is forced to bring in utter dross on short term contracts when the club is suposedly trying to get promoted?

Les Miserable wrote:

Can Si drive?

 geddon les

sufferedsince 68 wrote:

Amongst all the lurve for Ma and Pa Hallet, and St Jimmy, has anbody asked about the squad and why Adams is forced to bring in utter dross on short term contracts when the club is suposedly trying to get promoted?

Well said suffers

RegGreen wrote:

sufferedsince 68 wrote:

Amongst all the lurve for Ma and Pa Hallet, and St Jimmy, has anbody asked about the squad and why Adams is forced to bring in utter dross on short term contracts when the club is suposedly trying to get promoted?

Well said suffers

Absolutely. These people have got the dog shit 'team' they thoroughly deserve. But then again they're more than happy to languish forever more in the fourth division getting dicked by Barnet.

I'm done with this shit club.

Hugh Watt wrote:

[You must be registered and logged in to see this image.]

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

embarrassing

Back to the footie donny 3 pompey 1, argo 4pts below donny and 6 pts ahead of fourth placed pompey with game in hand.
Still a long way to beginning of May.
The impending mini stand may get even smaller if the 4th division obscurity continues.

I guess this is Mortgage [You must be registered and logged in to see this link.] secured against the value of the freehold.

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.

Innocent Egbunike wrote:

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

Thank you Innocent for transforming a complicated bunch of numbers into a simple statement that even I can understand.
I think that no matter where the money came from most posters on here would have found something to moan at. I accept that, at present, fans are being cautious because of past failings but this plan does seem to have legs. Why would a very successful investor need to lend £4 million to fill his own pocket or pension bucket. No reason at all. I see an Argyle fan who has the ability to help his club in a similar fashion that I or others would if we had won £50 million on the lottery.

Some years back I was going to have a house built to my specifications, which hadn't been formally produced at that stage, and the builder gave me a rough price. He also added that whether I wanted 4 or 5 bedrooms the price would not go up by more than about 10% So having no actual plans for the grandstand doesn't massively matter. The club want consultation which I'm certain will happen. I actually think that building around the present grandstand, if that is the plan, is a good option as it keeps a traditional stadium look.

At least reading through the thread didn't take long because most posts are about people on pasoti and not about the new grandstand. Weird! Almost like stalking. 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.

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?

Brent said: "We are looking at increasing the ground capacity from about 16,400 to around 20,000 and then having the ability to go further at an affordable cost."

Confirmed it is a even smaller stand.
Read more at [You must be registered and logged in to see this link.]

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

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?

You've conveniently not factored in generating greater income.

The conference/banquet/Bar/whatever(Gym?) facilities, and the capacity for an occasional bigger crowd should be able to pull in more than 100K a year.

Hallett is an investment manager. By definition he invests for the benefit of shareholders.

'An invitation has been issued for supporters to submit their resumes to join a working group to consult with the club on plans for both facilities, which Argyle will own and receive 100 per cent of the revenues.' Reading between the lines..................'volunteers' are required, with planning/building expertise. You know you want to pitch in and show what a great fan you are ! Your club will receive 100% of the revenues..........................and I will own your club. Call me an old cynic but............................

But... But, I like you.

However Tringy... The fans having a say is a good thing. As long as they are listened to, of course.

Well.. Let me amend that. As long as 'the fans vision' is the same as mine, and it's listened to!

Hallett and the rest of the board, keep on rattling on about increasing the fanbase/ the community club vibe.

Increasing the fanbase and janners falling over themselves to 'volunteer' [please forward to us your resumes] might have some mileage in the arse licking sector but attracting a bigger, regular fanbase is only achieved by wow factor developments and ultimately, serious wealth in the boardroom to attract, retain and add to playing staff capable of reaching the PL.Only a few seasons of the real big guns coming to town will grow a fanbase, as at every club in the past with the same lack of history.

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.

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?