EXETER V ARGYLE Match Thread

Sir Francis Drake wrote:

Just think... If the club published proper accounts there'd be no suspicion regarding such things at all.

Just an observation.

ive been saying that for a while now but brent wont do that.
The only way we will find out where the pennys have been going/gone is if we go tits up again / back in admin iam afraid

Is there a possibility that Brent could split the ground/club and put the club back in admin with all the bad debt less the assets? It seems to have been his business model with the hotels, taking several in admin keeping the profitable ones and flogging off the bad ones in the chain.

No he only has to sell the club plus debts for a nominal amount say a £1 to a "friend" let's sat Wrathall?? All arranged neatly bit like a pre packaged admin??

argyl3 wrote:

No he only has to sell the club plus debts for a nominal amount say a £1 to a "friend" let's sat Wrathall?? All arranged neatly bit like a pre packaged admin??

Well, I don't think any of the previous should have been let back into the boardroom at all, let alone be chairman. But one thing is certain. With Wrathall putting in 800K, that elbows out any possibility whatsoever in the future of a GT, Nool and Biggles nightmare train set franchise being given the keys for £1 with child restraints attached.
Brent initially was foolish enough to think a chairman would run it for him and take the flack for his budgets. That ain't how the Ridsdales of this world work, or football in general for that matter.

Im not sure he's in any hurry to sell.

argyle dad put JB's loans to the club at £3.5M. Setting his own "commercial rate" interest repayments could provide him a nice income. A new owner would surely expose / question this

Would really like to know how austerity Argyle have racked up these debts and the £800k to PCC.

As happens very often these days, the entity was in effect bought with it's own money it would appear. So, mainly the loans come from the first two years of losses that were unavoidable at admin exit and factored in at the outset, until he said no more underwriting of his own. I actually don't blame him for that particular decision, given no one else was putting their hand in their pocket. But then, he wanted to be in total control. Wrahall had to move in, when Nool's mate, Nikkkkkkkkkkkkkkkyboy  was found short in more ways than one, rendering the next budget unviable I would imagine.

The whole idea of the administration was to render an obvious going concern viable while it paid off it's football and financial debts over many many years, less of course, the usual victims. A real debt colony, unlike some clubs who have exited from admin. Not a good deal for the club and fans at all.
One thing is certain, he will be making sure he has recompence for his underwriting and expenses in revenue terms.
What makes me laugh is the plethora of his companies he has registered at Home Park. Doesn't he have another home or office to go to ? Maybe he's got a flat above the shop, or PL2 is some sort of offshore tax haven. That in itself doesn't ring a good note.

green_genie wrote:

Im not sure he's in any hurry to sell.

argyle dad put JB's loans to the club at £3.5M. Setting his own "commercial rate" interest repayments could provide him a nice income. A new owner would surely expose / question this

Would really like to know how austerity Argyle have racked up these debts and the £800k to PCC.

Remember it's Akkeron that owns Argyle, ultimately. I'd be surprised if losses in other areas of Brent's 'empire' weren't being cross-subsidised by monies generated at Argyle

Lord Biro wrote:

argyl3 wrote:

No he only has to sell the club plus debts for a nominal amount say a £1 to a "friend" let's sat Wrathall?? All arranged neatly bit like a pre packaged admin??

With Wrathall putting in 800K

Where did that figure come from? The last set of guesses was 500K.

I obviously don't know the exact amount. Few people do, given Argyle's secrecy. But it was a hefty sum ranging between the two figures. The context remains the same though.

Rickler wrote:

Lord Biro wrote:

argyl3 wrote:

No he only has to sell the club plus debts for a nominal amount say a £1 to a "friend" let's sat Wrathall?? All arranged neatly bit like a pre packaged admin??

With Wrathall putting in 800K

Where did that figure come from?  The last set of guesses was 500K.

Both guesstimates are too high imo. Wrathalls investment bought him a 5% stake. The true value of the club at the time was in the region of two million but Green Jim would've no doubt valued it at an over inflated four million. Even if Wrathall bought in at the higher estimation the cost to him would've only been in the region of 200k. An indication perhaps of how cash poor/desperate the owner was/is.

Well... So far we have a difference of 600K.

Peanuts.

all can be written off quite easily... its just a case of shunting money between business units.....

I think it was nearer the higher end, but talking actual Argyle figures is about as accurate and meaningful as George Osborne waffling about deficits and GDP percentages that are often picked from a hat depending on the political weather.
The point was Wrathall was asked to deposit funds not long after Nikkkkkkkkboy fell three from home, no doubt rendering the budget short. It was was interesting that he put money in  officially as a stake holder rather than Brent's mates already on the board, who, correct me if I'm wrong, aren't shareholders in any meaningful sense. They appear to be there more for their, don't laugh, expertise, although it must have left them in a hurry when concocting Plan A. I wonder what expenses they pick up, thinking about it. Or are they philanthropists like Jimmy ? I'm thinking of doing a 12 month stint as a board member of BT. I've got some time to fill, and volunteering is all the rage.

Lord Biro wrote:

I think it was nearer the higher end

Why do you think that? Where did you get your info from?

PS. Don't go SFD on me...

Have trawled back through some of the stuff   , and it would appear Les is nearer the mark with the lower end. Gawd knows where I got the 800k figure from, it can't be the sun.  Laziness on my part probably, but as said previously, the context is the same. His presence, while objectionable, does have it's up side.
Figures these days have gone interplanetary since QE became fashionable. Trillions might as well be 4 shillings and sixpence to the normal person. It's all blather. What really matters are the human relationships, confidences, and who holds court in the arena concerned.

Lord Biro wrote:

Have trawled back through some of the stuff   , and it would appear Les is nearer the mark with the lower end. Gawd knows where I got the 800k figure from, it can't be the sun.  Laziness on my part probably, but as said previously, the context is the same. His presence, while objectionable, does have it's up side.

Kudos for taking the time and effort to clear that up.