Green for Go!

Green for Go!

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6Dec

PLYMOUTH Argyle Football Club Limited (‘PAFC’) and the Green Taverners (‘GTs’) are pleased to announce that they have reached agreement in principle on how they will work together going forward.

- PAFC will grant the GTs a license/lease to operate the marquee known as the Pyramid. This facility will be improved by the GTs.

- the GTs will pay a license fee/rent to PAFC for utilising the Pyramid marquee. This will be calculated as a percentage of turnover and will be set on arms-length commercial terms.

- PAFC has agreed to apply the income received from the license/lease to accelerate payments to staff as set out in this statement until all such payments have been fully met.

- the GTs expect to generate surplus income in excess of the rental payments. It plans to use [the majority] of this surplus to make loans to PAFC in order to further accelerate payments to staff. The loans will bear no interest and will have the same repayment dates as the dates on which the Club would have made payments to staff i.e. PAFC will be in no better or worse position as a consequence of these loans.

- the allocation of payments to staff will be determined by a Committee comprising PAFC management and the GTs.

- the GTs propose to utilise any surplus income not used for acceleration of staff payments and repayments of loans from PAFC to support PAFC community-related projects.

James Brent said: “On Monday night, Argyle’s employees justifiably won the Herald’s Award for Outstanding Contribution to Sport in recognition of their selfless support of the club.

“Argyle remains grateful for the continuing support provided by the GTs for both our staff and club.”

Green Taverner Mark Russell said: “Green Taverners are delighted to continue the support they have given to Argyle over the last few months and look forward to a long relationship with Argyle.

“Green Taverners set out to help the community including youth, ladies, disabled team, and local community projects related to the badge of Argyle and remain committed to doing this for years to come.”

“Administration has changed the focus of the GT’s to help the staff of Argyle, we remain committed to helping Argyle with the repayment of the staff wages in terms of accelerated payments.

“Green Taverners will no longer be asking for donations and will be providing a service like the FanFest where £5 gets you a beer, food and live entertainment, which is great value.

“We look forward to working with the fans of Argyle to accelerate payments to the staff.”

Can't see much wrong with that.

The Pyramid continues as fund-raiser HQ, the profits go to pay off the staff etc.

Not much different to what would happen to the money raised in the Pyramid if the club ran it except the club won't have to. The Pyramid is now effectively an open-to-all Far Post Club.

Sounds good.

Seems like an excellent idea to me, well done the GT's and the club!

3 points for me

1........ "The Green Taverners will no longer be asking for donations, but will be providing a service".
That is excellent news, and takes away much of my 'charitable' concerns.... they are not a charity. Well done.

2....... They are renting the Pyramid and using it as they see fit. I have to say that is also a good idea. While not my scene, they obviously have hit a note with quite a few fans, and we all know there was a need for something pre match ..... some people are easily pleased

3 ..... Still a bit concerned with what amounts to an interest free loan to a multi millionaire, obviously some people have no shame, but then, that's how they get rich. However, If people who make use of the Green Taverner services are well aware of this fact, then there is little more to be said. I guess it all depends how other organisations advertise their 'fund raising' when some of those proceeds will find their way through the Taverners to an interest free loan to a very rich man.

I can't help but say I'm disappointed with James Brent with this interest free loan thing .... I expected better from the man... he could have offered interest, as it appears his PAFC books will benefit somewhat from these loans. But by and large, the Green Taverners have handled this awkward episode reasonably well, and some could take heed of their approach that tries not to antagonise.

On first glance, that looks very good. It gives the GTs a more solid footing, it helps the club and it helps the staff. Impressed.

Questions:
who owns the marquee?
in any future redevelopment of the stand, will the marquee be relocated?
if, eventually it finds a home as a dedicated area within the new stand, will there be any change in the agreement?
what percentage will the club take both now and in future once the staff have been fully paid off?


But, to repeat, I'm impressed.

I get the impression this was hashed together recently-or why not just tell us when the questions arose? Apart from that it sits well with me. The GTs have found a way to justify their continued existence, and in a good way I think too. Will any of the surplus, when Brent pays the loans back, find it's way to the Trust (who still have an £8k hole in their books)?

Well this seems the best and just way to do this and well done to the GT's, Mind you i think i did mention the best way they could do this on the accelerated payments thread Seriously it seems fair but remember we are here to keep an eye on making sure its stays as this.

I think we need to remember, James Brent, despite how he's been portrayedly mugged, is not a football or Argyle fan, he's a businessman and here's here to do business.

I have no bones about that at all, he's here to make money and the bonus of that is that we still have our club and that Brent was willing to save it when no other was because he had the opinion that the Westcountry needed a decent sized club. (No disrespect to our Exeter friends)

That I believe is the harsh reality of the situation and it's pretty much what Brent said at the start of all this.

If the club is to stand on its own two feet (for the life of me I can't see how!) we will be needing many more groups such as the GT's.

However, you never know, overtime Brent may develop a genuine love for the club and decide to have it as a financial losing hobby, stranger things have happened!


What's the tax situation for the GT's?

All good and proper, well done. The old cynic in me thinks things may well have plodded along in the old ad hoc way had not Penz kicked over the wasp's nest.

Charlie Wood wrote:

All good and proper, well done. The old cynic in me thinks things may well have plodded along in the old ad hoc way had not Penz kicked over the wasp's nest.

In one!

Good work Pirate.

A pass and a parking space for the pirate is what I say....

Scum always floats to the top!

Just bought tickets to the Hereford fanfest. I will be going in my real name.

and me!

Renaldo

GOB wrote:

and me!

Renaldo

Does this mean we are glory hunters?

Bloody right mate, see my avatar?----------------------------------------------------
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Frank Bullitt wrote:

Just bought tickets to the Hereford fanfest. I will be going in my real name.

See you there!

Chris Webb wrote:

Frank Bullitt wrote:

Just bought tickets to the Hereford fanfest. I will be going in my real name.

See you there!

I look forward to it Chris. I shall wear something green so you know its me.

Frank Bullitt wrote:

Chris Webb wrote:

Frank Bullitt wrote:

Just bought tickets to the Hereford fanfest. I will be going in my real name.

See you there!

I look forward to it Chris. I shall wear something green so you know its me.

I will be the bloke sat down asleep in the corner.

This is indeed a positive thing and I hope that it is very successful.

I have two questions though...

Do the accelerated staff payments include the amounts owed to players (timescale could be quite long)?

Do the Taverners, once paid back, intend to make an "appropriate" donation to the Trust?

Moist_Von_Lipwig wrote:

This is indeed a positive thing and I hope that it is very successful.

I have two questions though...

Do the accelerated staff payments include the amounts owed to players (timescale could be quite long)?

Do the Taverners, once paid back, intend to make an "appropriate" donation to the Trust?

Youuum asssskin tooooo many questions moist bloke .