Tony Wrathall set to return to Plymouth Argyle's board of directors

Iggy wrote:

Flat_Track_Bully wrote:

Very worrying. One things that springs to mind is what is in this for Wrathall? He apparently lost a packet the first time round, and he must know that his re-introduction to the board room ain't going to go down well, so why is he getting involved? The 'deal' from his point of view doesn't seem that great, he's putting in (apparently) at least 100k, and only getting 5% of the club. If the club are that desperate for 100k, what terms is this deal being done under? It would strike me that the terms must be very favourable to Wrathall, otherwise why on earth would he be getting involved? That in turn suggests that the club are in deep financial trouble.

Also as we are coming into March, doesn't the financial year end in April? Could it be that we desperately need some cash before year end.

Our old friends the inland revenue?

Yep might go with that one - cashflow desperation? Bye Bye mini stand - find an old Leitch designed stand makeover referb spcialist quick!!

It really is a brilliant coup by Brent, to have totally neutered the Dogs of War voices of Jones, Webb and Newell insofar as they will never hear a bad word said against that nice man and his lovely family.

Brent is utterly ruthless and his handling of them so far has been quite masterly and brilliant.

Tring's analogy of Jamboys being bought off with silly hats and titles is perfect.

Thinking about this, I reckon that the club may actually not necessarily be in Dire Straits in terms of finance. I think it may be that Brent has reached a point whereby he simply doesn't want to loan the club any more to keep it ticking over. Therefore he'd rather that someone else - ANYONE else, put some money in to the club for a small stake.

If there were a small number of people ready to throw £100k at Argyle for a 5% stake, this lessens the liability as far as Brent is concerned, should it all go tits up again.

One thing I'd like to know is if these goons on the Board aren't backing the club with Wonga, WTF else to they bring to the party because there's been no sight or sound of anything tangible in terms of their specific expertise.

True cynic alert.

The AFT have made representations to PCC about the leasehold transfer and buyback clause.
What better way to ensure they realise the importance of the deal to the future of the club and play ball than a "cashflow crisis".

JB has just pocketed £900K from his £1 investment in the Pavillions, so it's a bit hard to believe he really needs outside investment.

Czarcasm wrote:

Thinking about this, I reckon that the club may actually not necessarily be in Dire Straits in terms of finance. I think it may be that Brent has reached a point whereby he simply doesn't want to loan the club any more to keep it ticking over. Therefore he'd rather that someone else - ANYONE else, put some money in to the club for a small stake.

If there were a small number of people ready to throw £100k at Argyle for a 5% stake, this lessens the liability as far as Brent is concerned, should it all go tits up again.

One thing I'd like to know is if these goons on the Board aren't backing the club with Wonga, WTF else to they bring to the party because there's been no sight or sound of anything tangible in terms of their specific expertise.

Can't say that I share your optimism on the financial front Czar - reports suggesting Wrathall was the ONLY person willing to chip-in must be close to the truth. Brent has already kicked in a £2m loan, the club is still loss-making and there is a whopping £2m-£3m admin bubble payment not very far around the corner. But it's OK coz Nool and the gang have looked him in the eyes. Frankly, I'm struggling to see any light at the end of the tunnel.

Damon.Lenszner wrote:

Starnes did mention that JB had loaned the club between £1.6 and £2 million.

LOL. Anyone else note the irony in that the actual amount could differ by some 400K? Surely the club know almost to the actual pound? Transparency, yeah....

...and the figure is finally released at a Senior Greens meeting despite being requested numerous times by the PASB and AFT.

Can you say snubbed?

PR disaster.

Brent 'saved' Argyle, but we came out of admin shackled in debt, and he is not going to pay off that debt himself, he has loaned, not given, not invested, not spent a SINGLE penny on the club he owns but believe me, he will MAKE money out of HIS club.

Firstly I haven't read all this thread yet but I've picked up on the fact that posters are comparing TW paying for a 5% stake in the club with the Trust being offered 20% for £400,000. Just to remind everyone that the £400,000 wasn't for 20% of the shares in the club, it was for loan notes which could have possibly been changed into shares at a later date. JB explained to us that our ( the Trust's) money would be better protected in this way. One of the things that would have happened is the value of the Trust's £400K would have diminished as the value of the club increased, ( taking it for granted that it did) So where as the £400K was 20% of £2M, within possibly quite a short time the club could be valued at £4M and the Trust's £400K becomes 10%.

It's quite possible that the club is seen to be on a more stable footing and the value has gone up. Some young players might increase the value. Much more importantly the stadium having planning permission will definitely have increased the value. So in my view some of the figures being bandied around are highly likely to be totally wrong and misleading.

Saying that I'm sure we would all like to know what TW has paid but I don't suppose we will be told because it will be classed as "commercially sensitive".

PatDunne wrote:

Brent 'saved' Argyle, but we came out of admin shackled in debt, and he is not going to pay off that debt himself, he has loaned, not given, not invested, not spent a SINGLE penny on the club he owns but believe me, he will MAKE money out of HIS club.

Zackly,

a clever man who will not own the club until it IS in profit.

Re-building the club on OP's money, some of my effin Council tax too.

We fans are still paying off the debt, do not delude yourselves that we are not.

Romeo has posted an ill thought out message with very mixed metaphors, still hanging on in there for his goodies but back to trying to be the peoples warrior again, no wonder it has been all quiet in New Brent Towers with no good news given out for ages.

Labour Union man and Tory ex-Banker bff's, you couldn't make it up!

All the Presidents Men wrote:

PatDunne wrote:

Brent 'saved' Argyle, but we came out of admin shackled in debt, and he is not going to pay off that debt himself, he has loaned, not given, not invested, not spent a SINGLE penny on the club he owns but believe me, he will MAKE money out of HIS club.

Zackly,

a clever man who will not own the club until it IS in profit.

Re-building the club on OP's money, some of my effin Council tax too.

We fans are still paying off the debt, do not delude yourselves that we are not.

Romeo has posted an ill thought out message with very mixed metaphors, still hanging on in there for his goodies but back to trying to be the peoples warrior again, no wonder it has been all quiet in New Brent Towers with no good news given out for ages.

Labour Union man and Tory ex-Banker bff's, you couldn't make it up!

and thats exactly why most of us boycott

Mrrapson wrote:

Why does everything get turned to Newell and Webb? Ffs chaps this is about a former board member nothing else.

If all you care about is how Chris or Ian react then you need help.

Why are you defending them as usual, are you still still their ATD minder, i won't say bitch.

of course, on a lighter note, this could all be a rous to get jock posting again    

Thankfully Jock has had a rant (or 3) on Facebook

Just come back from holiday to read about Wrathall rejoining the Board.

Absolutely disgusted,all the unpaid staff have been pissed on, Brent has revealed his true colours.

I think anyone who goes to Home Park while Brent, Wrathall & Co are there should be ashamed of themselves.

Total boycott is the only way to remove the despicable people from Home Park.

Hitch wrote:

Czarcasm wrote:

Thinking about this, I reckon that the club may actually not necessarily be in Dire Straits in terms of finance. I think it may be that Brent has reached a point whereby he simply doesn't want to loan the club any more to keep it ticking over. Therefore he'd rather that someone else - ANYONE else, put some money in to the club for a small stake.

If there were a small number of people ready to throw £100k at Argyle for a 5% stake, this lessens the liability as far as Brent is concerned, should it all go tits up again.

One thing I'd like to know is if these goons on the Board aren't backing the club with Wonga, WTF else to they bring to the party because there's been no sight or sound of anything tangible in terms of their specific expertise.

Can't say that I share your optimism on the financial front Czar - reports suggesting Wrathall was the ONLY person willing to chip-in must be close to the truth. Brent has already kicked in a £2m loan, the club is still loss-making and there is a whopping £2m-£3m admin bubble payment not very far around the corner. But it's OK coz Nool and the gang have looked him in the eyes. Frankly, I'm struggling to see any light at the end of the tunnel.

I wouldn't call it an optimist view Hitch.   

I just think that maybe Brent has reached the point where he personally has had enough. I'd love to think that there was a Consortium out there of relatively wealthy fans like Wrathall or even nikkk that would be able to make him an offer to hasten his increasingly obvious exit strategy. If that were the case and the Clusterfuck development was shelved, then for me that'd be like birthday, Christmas and Steak & Blowjob Day all rolled in to one!  

I am absolutely amazed at todays news. Wrathall back at PAFC is wrong, so wrong on so many levels and commented on much better than me.

My feeling is he may be a true supporter, green through and through and all that, but if he is, then he would have had a thought about the suffering of the staff that resulted in the admin that followed the reckless actions of the club board that he was part of.

As for the post by Chris Webb. If he was to resign from his position at the club over this then it will go a little way to putting right the damage he has done to the AFT, the club and the fanbase.

All I can say is I think it is a very bad decision to allow Wrathall back.

very slightly off topic and i know it makes me sound as thick as i am but..... if Argyle are making a loss where does the money to make the admin bubble payment come from?

Richard Blight wrote:

Firstly I haven't read all this thread yet but I've picked up on the fact that posters are comparing TW paying for a 5% stake in the club with the Trust being offered 20% for £400,000. Just to remind everyone that the £400,000 wasn't for 20% of the shares in the club, it was for loan notes which could have possibly been changed into shares at a later date. JB explained to us that our ( the Trust's) money would be better protected in this way. One of the things that would have happened is the value of the Trust's £400K would have diminished as the value of the club increased, ( taking it for granted that it did) So where as the £400K was 20% of £2M, within possibly quite a short time the club could be valued at £4M and the Trust's £400K becomes 10%.

Hi Rich - that sounds an accurate record of the offer to me. And of part of the advice we had from SD.

I heard, albeit 2nd hand from someone at the SG meeting, that Wrathall is investing £400k. What %age that might be, no idea. The Herald may be off the mark on the 5%.

Tim

From the BBC web-site.

been away working all week , so just read this
I would say i am speechless but that would be a lie.
Nothing surprises me about that circus anymore.

Tim Chown wrote:

Richard Blight wrote:

Firstly I haven't read all this thread yet but I've picked up on the fact that posters are comparing TW paying for a 5% stake in the club with the Trust being offered 20% for £400,000. Just to remind everyone that the £400,000 wasn't for 20% of the shares in the club, it was for loan notes which could have possibly been changed into shares at a later date. JB explained to us that our ( the Trust's) money would be better protected in this way. One of the things that would have happened is the value of the Trust's £400K would have diminished as the value of the club increased, ( taking it for granted that it did) So where as the £400K was 20% of £2M, within possibly quite a short time the club could be valued at £4M and the Trust's £400K becomes 10%.

Hi Rich - that sounds an accurate record of the offer to me. And of part of the advice we had from SD.

I heard, albeit 2nd hand from someone at the SG meeting, that Wrathall is investing £400k. What %age that might be, no idea. The Herald may be off the mark on the 5%.

Tim

Tim,

that would suggest that the current value is £8M. I've seen somewhere tonight figures of £4.5M mentioned. Somewhere above the £4.5M might be believable but £8M? It's difficult to see that. There's also the fact that the club now has NO land with it anymore, which will bring down the potential value. BUT there's the fact the owners may be able to buy the ground back off the council relatively cheaply. Obviously you chaps are looking into that. All in all a lot of questions particularly concerning the current levels of debt? Are there cash flow problems? Also brings to mind the thought that many people have, that the attendances are not as high as the official figures say. The spectre of reduced playing budgets looms on the horizon next season as well.

Good luck Saturday with your PASB meeting. Personally I think you should turn up state your displeasure at current events and all resign on the spot.

Rich.

green_genie wrote:

True cynic alert.

The AFT have made representations to PCC about the leasehold transfer and buyback clause.
What better way to ensure they realise the importance of the deal to the future of the club and play ball than a "cashflow crisis".

JB has just pocketed £900K from his £1 investment in the Pavillions, so it's a bit hard to believe he really needs outside investment.

That's money he wants nowhere near the toxic football industry. Now he has got planning permission, Brent will sell up to Wrathall and his consortium. That's my prediction - Brent is making his exit.

ejh wrote:

green_genie wrote:

True cynic alert.

The AFT have made representations to PCC about the leasehold transfer and buyback clause.
What better way to ensure they realise the importance of the deal to the future of the club and play ball than a "cashflow crisis".

JB has just pocketed £900K from his £1 investment in the Pavillions, so it's a bit hard to believe he really needs outside investment.

That's money he wants nowhere near the toxic football industry. Now he has got planning permission, Brent will sell up to Wrathall and his consortium. That's my prediction - Brent is making his exit.

Very likely but it's the timing that get's me. The new lease needs pushing through with PCC along with the outstanding thorny details of the Planning Application, where Graham Clark tells us there are issues not yet in public domain.

Richard Blight wrote:

Tim Chown wrote:

Richard Blight wrote:

Firstly I haven't read all this thread yet but I've picked up on the fact that posters are comparing TW paying for a 5% stake in the club with the Trust being offered 20% for £400,000. Just to remind everyone that the £400,000 wasn't for 20% of the shares in the club, it was for loan notes which could have possibly been changed into shares at a later date. JB explained to us that our ( the Trust's) money would be better protected in this way. One of the things that would have happened is the value of the Trust's £400K would have diminished as the value of the club increased, ( taking it for granted that it did) So where as the £400K was 20% of £2M, within possibly quite a short time the club could be valued at £4M and the Trust's £400K becomes 10%.

Hi Rich - that sounds an accurate record of the offer to me. And of part of the advice we had from SD.

I heard, albeit 2nd hand from someone at the SG meeting, that Wrathall is investing £400k. What %age that might be, no idea. The Herald may be off the mark on the 5%.

Tim

Tim,

that would suggest that the current value is £8M. I've seen somewhere tonight figures of £4.5M mentioned. Somewhere above the £4.5M might be believable but £8M? It's difficult to see that. There's also the fact that the club now has NO land with it anymore, which will bring down the potential value. BUT there's the fact the owners may be able to buy the ground back off the council relatively cheaply. Obviously you chaps are looking into that. All in all a lot of questions particularly concerning the current levels of debt? Are there cash flow problems? Also brings to mind the thought that many people have, that the attendances are not as high as the official figures say. The spectre of reduced playing budgets looms on the horizon next season as well.

Good luck Saturday with your PASB meeting. Personally I think you should turn up state your displeasure at current events and all resign on the spot.

Rich.

That would require balls and integrity.

The smoking gun with Wrathall is his involvement with Todd and Stapleton in the HPPL company set up by Todd. He knew exactly what was going on.