| Mr Day and his borrowing on 19:51 - Nov 12 with 3036 views | judd |
| Mr Day and his borrowing on 19:49 - Nov 12 by Pale_Dale |
Here you go. No doubt a few on here will be gutted.
Statement from the board of directors with regards to newspaper article
The Board of Bury FC feel it very inappropriate that news stories have been released about its business that has in effect painted a totally inaccurate position of the Club.
The Club has been forced to explain itself on matters that they felt were private to the Club and not a public point of interest or indeed concern. Hence no public comments.
At all times, the Board has put the Club priorities first and will always carry on to do so.
The “loan” that has created all the issues has not been guaranteed by the Club and/or any associated costs paid for by the Club. This is a fact as there is separate private agreements in place between the funders representatives and Mr Day.
Mr Day has personally guaranteed the interest as this forms part of an agreement between the parties involved.
The Club needs third party income at all times to survive and after initial meetings with the Football League the Board determined that the Club can create third party income by carrying out NON FOOTBALL related transactions. This is key to the Club moving forward.
The “loan” was part of a property transaction that allowed BFC to earn revenue streams over a period of 6 months secured on another asset. The deal has completed and in turn the “loan” will be repaid at no cost to BFC PLUS the Club will earn a significant sum over the next 18 months.
In any business you must justify a legal transaction to warrant earned income and as such at times some calculated risk needs to take place.
At no time has any funds been used for players — despite the fact we have been offered player finance in the past, it has always been declined.
The Club will always try to conduct its business in a private and professional manner as in many instances the NON FOOTBALL income will be generated by creating new partnerships and allow the Club to eventually develop new facilities and as such increase its independent revenue streams.
The “loan” will be repaid within the next few weeks.
We want to assure any concerned fan that the Club is not spiralling into debt and only acting as an investor to create income that in turn will makes the Club self sufficient.
The Board know that changes can be unnerving at times, but historically the Club has gone close to receivership every 4/5 years and that is something we are determined will not happen again.
At times, due to very strict privacy agreements or wanting to be ahead of the game we do not think its appropriate to publicize some of the activities as that could stop the investment strategy from maximizing its potential.
We want to apologize for any concern this may have caused, BUT at the same time ask that support is given to allow time for such investments to show dividend.
The Board
Read more at http://www.buryfc.co.uk/news/article/statement-press-story-re-finance-2080774.as [Post edited 12 Nov 2014 19:51]
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Oh, right.
Cheers Pail. |  |
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| Mr Day and his borrowing on 19:57 - Nov 12 with 3011 views | DomDale |
Highlights how lucky we are. Similar clubs in many senses yet I don't remember our lot going cap in hand to the football world. |  |
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| Mr Day and his borrowing on 20:00 - Nov 12 with 2982 views | KenBoon |
"The Board" need to switch their Spell Checker from English (United States) to English (United Kingdom). |  | | |
| Mr Day and his borrowing on 20:01 - Nov 12 with 2974 views | BigDaveMyCock |
What an extraordinary statement.
It's out in the open and they're sh!tting themselves. |  |
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| Mr Day and his borrowing on 20:07 - Nov 12 with 2938 views | TVOS1907 |
| Mr Day and his borrowing on 19:49 - Nov 12 by Pale_Dale |
Here you go. No doubt a few on here will be gutted.
Statement from the board of directors with regards to newspaper article
The Board of Bury FC feel it very inappropriate that news stories have been released about its business that has in effect painted a totally inaccurate position of the Club.
The Club has been forced to explain itself on matters that they felt were private to the Club and not a public point of interest or indeed concern. Hence no public comments.
At all times, the Board has put the Club priorities first and will always carry on to do so.
The “loan” that has created all the issues has not been guaranteed by the Club and/or any associated costs paid for by the Club. This is a fact as there is separate private agreements in place between the funders representatives and Mr Day.
Mr Day has personally guaranteed the interest as this forms part of an agreement between the parties involved.
The Club needs third party income at all times to survive and after initial meetings with the Football League the Board determined that the Club can create third party income by carrying out NON FOOTBALL related transactions. This is key to the Club moving forward.
The “loan” was part of a property transaction that allowed BFC to earn revenue streams over a period of 6 months secured on another asset. The deal has completed and in turn the “loan” will be repaid at no cost to BFC PLUS the Club will earn a significant sum over the next 18 months.
In any business you must justify a legal transaction to warrant earned income and as such at times some calculated risk needs to take place.
At no time has any funds been used for players — despite the fact we have been offered player finance in the past, it has always been declined.
The Club will always try to conduct its business in a private and professional manner as in many instances the NON FOOTBALL income will be generated by creating new partnerships and allow the Club to eventually develop new facilities and as such increase its independent revenue streams.
The “loan” will be repaid within the next few weeks.
We want to assure any concerned fan that the Club is not spiralling into debt and only acting as an investor to create income that in turn will makes the Club self sufficient.
The Board know that changes can be unnerving at times, but historically the Club has gone close to receivership every 4/5 years and that is something we are determined will not happen again.
At times, due to very strict privacy agreements or wanting to be ahead of the game we do not think its appropriate to publicize some of the activities as that could stop the investment strategy from maximizing its potential.
We want to apologize for any concern this may have caused, BUT at the same time ask that support is given to allow time for such investments to show dividend.
The Board
Read more at http://www.buryfc.co.uk/news/article/statement-press-story-re-finance-2080774.as [Post edited 12 Nov 2014 19:51]
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Publicize!
Apologize!
Go figure. |  |
| When I was your age, I used to enjoy the odd game of tennis. Or was it golf? |
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| Mr Day and his borrowing on 20:08 - Nov 12 with 2928 views | robbowood |
| Mr Day and his borrowing on 19:49 - Nov 12 by Pale_Dale |
Here you go. No doubt a few on here will be gutted.
Statement from the board of directors with regards to newspaper article
The Board of Bury FC feel it very inappropriate that news stories have been released about its business that has in effect painted a totally inaccurate position of the Club.
The Club has been forced to explain itself on matters that they felt were private to the Club and not a public point of interest or indeed concern. Hence no public comments.
At all times, the Board has put the Club priorities first and will always carry on to do so.
The “loan” that has created all the issues has not been guaranteed by the Club and/or any associated costs paid for by the Club. This is a fact as there is separate private agreements in place between the funders representatives and Mr Day.
Mr Day has personally guaranteed the interest as this forms part of an agreement between the parties involved.
The Club needs third party income at all times to survive and after initial meetings with the Football League the Board determined that the Club can create third party income by carrying out NON FOOTBALL related transactions. This is key to the Club moving forward.
The “loan” was part of a property transaction that allowed BFC to earn revenue streams over a period of 6 months secured on another asset. The deal has completed and in turn the “loan” will be repaid at no cost to BFC PLUS the Club will earn a significant sum over the next 18 months.
In any business you must justify a legal transaction to warrant earned income and as such at times some calculated risk needs to take place.
At no time has any funds been used for players — despite the fact we have been offered player finance in the past, it has always been declined.
The Club will always try to conduct its business in a private and professional manner as in many instances the NON FOOTBALL income will be generated by creating new partnerships and allow the Club to eventually develop new facilities and as such increase its independent revenue streams.
The “loan” will be repaid within the next few weeks.
We want to assure any concerned fan that the Club is not spiralling into debt and only acting as an investor to create income that in turn will makes the Club self sufficient.
The Board know that changes can be unnerving at times, but historically the Club has gone close to receivership every 4/5 years and that is something we are determined will not happen again.
At times, due to very strict privacy agreements or wanting to be ahead of the game we do not think its appropriate to publicize some of the activities as that could stop the investment strategy from maximizing its potential.
We want to apologize for any concern this may have caused, BUT at the same time ask that support is given to allow time for such investments to show dividend.
The Board
Read more at http://www.buryfc.co.uk/news/article/statement-press-story-re-finance-2080774.as [Post edited 12 Nov 2014 19:51]
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"In any business you must justify a legal transaction to warrant earned income and as such at times some calculated risk needs to take place."
"We want to assure any concerned fan that the Club is not spiralling into debt and only acting as an investor to create income that in turn will makes the Club self sufficient."
"We want to apologize for any concern this may have caused, BUT at the same time ask that support is given to allow time for such investments to show dividend. "
nothing to worry about then in any shape or form and it's great to hear BFC are not spiralling into debt | | | |
| Mr Day and his borrowing on 20:08 - Nov 12 with 2921 views | PDIDDY |
| Mr Day and his borrowing on 20:01 - Nov 12 by BigDaveMyCock |
What an extraordinary statement.
It's out in the open and they're sh!tting themselves. |
Haha, it's been out in the open for months, as you know. Next |  |
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| Mr Day and his borrowing on 20:09 - Nov 12 with 2919 views | BigDaveMyCock |
"The “loan” was part of a property transaction that allowed BFC to earn revenue streams over a period of 6 months secured on another asset. The deal has completed and in turn the “loan” will be repaid at no cost to BFC PLUS the Club will earn a significant sum over the next 18 months.
In any business you must justify a legal transaction to warrant earned income and as such at times some calculated risk needs to take place."
What absolute utter, utter dross that has been compiled in absolute desperation. | |
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| Mr Day and his borrowing on 20:14 - Nov 12 with 2879 views | 442Dale |
| Mr Day and his borrowing on 20:09 - Nov 12 by BigDaveMyCock |
"The “loan” was part of a property transaction that allowed BFC to earn revenue streams over a period of 6 months secured on another asset. The deal has completed and in turn the “loan” will be repaid at no cost to BFC PLUS the Club will earn a significant sum over the next 18 months.
In any business you must justify a legal transaction to warrant earned income and as such at times some calculated risk needs to take place."
What absolute utter, utter dross that has been compiled in absolute desperation. |
Could someone explain that in a simple way using an example to illustrate what they're trying to say? |  |
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| Mr Day and his borrowing on 20:16 - Nov 12 with 2852 views | DomDale |
| Mr Day and his borrowing on 20:14 - Nov 12 by 442Dale |
Could someone explain that in a simple way using an example to illustrate what they're trying to say? |
"Don't worry, it's alright. We're not trying to shaft you. Honest." | |
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| Mr Day and his borrowing on 20:17 - Nov 12 with 2849 views | SuddenLad |
| Mr Day and his borrowing on 20:14 - Nov 12 by 442Dale |
Could someone explain that in a simple way using an example to illustrate what they're trying to say? |
Smoke and mirrors. And for my next trick........ |  |
| “It is easier to fool people, than to convince them that they have been fooled†|
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| Mr Day and his borrowing on 20:17 - Nov 12 with 2842 views | mightydale |
| Mr Day and his borrowing on 20:08 - Nov 12 by PDIDDY |
Haha, it's been out in the open for months, as you know. Next |
so how is the loan gonna be paid in next few weeks??? you could always ask East z East |  |
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| Mr Day and his borrowing on 20:17 - Nov 12 with 2834 views | ColDale |
| Mr Day and his borrowing on 20:08 - Nov 12 by PDIDDY |
Haha, it's been out in the open for months, as you know. Next |
Out in the open for months, and not one word said when the Bury fans (eventually) grew concerned. A newspaper repeats fans' concerns (by David Conn who apparently had found everything above board), and there's an "answer" within a couple of hours. The Conn statement carries more facts that the BFC statement. But it will please the Milesy's and the Ryan's of this world. |  | | |
| Mr Day and his borrowing on 20:18 - Nov 12 with 2828 views | KenBoon |
The statement is best read in the voice of Officer Barbrady from South Park.
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| Mr Day and his borrowing on 20:20 - Nov 12 with 2815 views | 100notout |
"The Club has been forced to explain itself on matters that they felt were private to the Club and not a public point of interest"
Unbelievable.
When you sign a charge over the ground it is registered at Companies House along with details of the loan taken out - so guess what it ain't private its publicly available information!
"The deal has completed and in turn the “loan” will be repaid at no cost to BFC PLUS the Club will earn a significant sum over the next 18 months." - ok we'll see
#smokeandmirrors | |
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| Mr Day and his borrowing on 20:23 - Nov 12 with 2715 views | DomDale |
| Mr Day and his borrowing on 20:14 - Nov 12 by 442Dale |
Could someone explain that in a simple way using an example to illustrate what they're trying to say? |
"Don't worry, it's alright. We're not trying to shaft you. Honest." | |
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| Mr Day and his borrowing on 20:24 - Nov 12 with 2709 views | batman |
| Mr Day and his borrowing on 20:14 - Nov 12 by 442Dale |
Could someone explain that in a simple way using an example to illustrate what they're trying to say? |
It could be that they used Gigg as security to borrow money to, let's say,
Allow someone (Mr A,B, C or even D) to purchase an old mill for example to convert into
Student flats.
Once the conversion is completed another Co (controlled my Mr DA) can then
Purchase the 'flats' providing a return to the investor BFC and the interest they
Receive is a proportion of the rental income.
No risk to (DA) in case planning etc isn't granted or the arse falls out of student
Rents
Made that all up but is plausible . | | | |
| Mr Day and his borrowing on 20:25 - Nov 12 with 2702 views | rochdale1987 |
What a load of tosh that Bury statement is! Looks like it's been complied by an 11 year old in a few minutes who's googled "big words" to help.
A reputable journalist like Conn who has proven and predicted financial foul play and liquidations, or a panicking bunch of crooks down the road, I know who I believe! | | | |
| Mr Day and his borrowing on 20:25 - Nov 12 with 2693 views | judd |
| Mr Day and his borrowing on 20:20 - Nov 12 by 100notout |
"The Club has been forced to explain itself on matters that they felt were private to the Club and not a public point of interest"
Unbelievable.
When you sign a charge over the ground it is registered at Companies House along with details of the loan taken out - so guess what it ain't private its publicly available information!
"The deal has completed and in turn the “loan” will be repaid at no cost to BFC PLUS the Club will earn a significant sum over the next 18 months." - ok we'll see
#smokeandmirrors |
Surely this was all aired at the fans forum? | |
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| Mr Day and his borrowing on 20:28 - Nov 12 with 2673 views | BigDaveMyCock |
| Mr Day and his borrowing on 20:14 - Nov 12 by 442Dale |
Could someone explain that in a simple way using an example to illustrate what they're trying to say? |
It's a 'they're on to us' statement and they've gone into damage limitation mode.
They are stating that the loan money has not been used for the club. Rather, for some other source. They're claiming that it is for a property transaction. However, they've not been 100% on that stating that Bury have not guaranteed the loan - it's secured on Gigg ffs.
So, they've admitted the loan monies are not for the club. This, however, causes as many problems as admitting it is for the running of the club. To counter this they've come up with some utter shite about the club earning revenue from this (third party) property deal and the club needing this third party income.
It reeks of panic. [Post edited 12 Nov 2014 21:03]
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| Mr Day and his borrowing on 20:29 - Nov 12 with 2655 views | PDIDDY |
| Mr Day and his borrowing on 20:25 - Nov 12 by judd |
Surely this was all aired at the fans forum? |
Mr day said jan 29th the finances would be discussed..#obsessed | |
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| Mr Day and his borrowing on 20:30 - Nov 12 with 2643 views | Pale_Dale |
| Mr Day and his borrowing on 20:24 - Nov 12 by batman |
It could be that they used Gigg as security to borrow money to, let's say,
Allow someone (Mr A,B, C or even D) to purchase an old mill for example to convert into
Student flats.
Once the conversion is completed another Co (controlled my Mr DA) can then
Purchase the 'flats' providing a return to the investor BFC and the interest they
Receive is a proportion of the rental income.
No risk to (DA) in case planning etc isn't granted or the arse falls out of student
Rents
Made that all up but is plausible . |
Plausible isn't allowed on here when discussing BFC but I would like to congratulate you on a good post. You will note that nobody on here has commented on your theory because it doesn't suit. [Post edited 12 Nov 2014 21:11]
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| Mr Day and his borrowing on 20:30 - Nov 12 with 2638 views | stomper |
Diddy and pops are the type of fan stewie wants. Some of the bury fans aren't as thick though. Diddy has been bought prostitute style with his hospitality he feels the need to keep telling us about.
Sap. | | | |
| Mr Day and his borrowing on 20:32 - Nov 12 with 2621 views | judd |
| Mr Day and his borrowing on 20:29 - Nov 12 by PDIDDY |
Mr day said jan 29th the finances would be discussed..#obsessed |
Fingers crossed no doubt. #Repossessed | |
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| Mr Day and his borrowing on 20:34 - Nov 12 with 2600 views | PDIDDY |
| Mr Day and his borrowing on 20:24 - Nov 12 by batman |
It could be that they used Gigg as security to borrow money to, let's say,
Allow someone (Mr A,B, C or even D) to purchase an old mill for example to convert into
Student flats.
Once the conversion is completed another Co (controlled my Mr DA) can then
Purchase the 'flats' providing a return to the investor BFC and the interest they
Receive is a proportion of the rental income.
No risk to (DA) in case planning etc isn't granted or the arse falls out of student
Rents
Made that all up but is plausible . |
I was told s day was getting a 3 million pound payment a few weeks back, so you may well have hit the nail on the head | |
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