Updated Statement From Andrew Casson

[Lancaster Branch]

we will have to wait and see.

Bingo! Pointless speculating, really. Let’s just see what happens.

[BoltonBlue]

http://www.barrowafc.com/club-statement ... 0S-sGKZWn4

Well at least that clears things up & everyone fully understands the situation now.

[Hitthebar22]

Steve this is not quite that simple.

I understand at the moment the Casson's own the shares not the other directors. Being a director doesn't mean you are also a shareholder.

they can't simply pass them on as such.

They have to be sold albeit they can be gifted or sold at a knock down price to someone.

I suspect he will value the club less his loan account then sell for that figure and write off the loan but at the moment we don't know.

I also suspect that the new people coming on board will pay whatever the price is for those shares and then effectively own the club between them.

we will have to wait and see.

Sure, the detail might not be simple in the short term, but I repeat that the cash cow has vanished!

[Dalton Bluebird]

The Mail and BBC Radio Cumbria have stated that Paul Hornby is the new owner, which he clearly isn’t.

Which they got from the opening misleading bit of yesterday 1st statement

"After careful consideration, it is time for me to end my ownership of Barrow AFC. The plan was for this to take a bit more time, but when Paul Hornby stepped up to take over, I knew it was right"

Which was quickly followed up by a statement from Paul Hornby
“To correct some erroneous reporting you may have seen, I will be acting as a steward in an interim Chairman role, not taking over as sole owner.”

[olbarrafancumbak]

Wow..a hell of a lot going on behind the scenes and of course it does raise eyebrows and deep concern BUT rather than speculate and speak utter dross, let's wait till Friday before we all start panicking!!
For now, as fans and supporters we should just do what we do best and carry on supporting.
Mistakes have been made, lessons will be learnt and Paul Hornby will have seen enough to understand the real mechanics of the club and what is needed to successfully carry the ship forward with whoever else gets involved. He is obviously passionate about the club, he obviously cares and I'm bloody sure he will not just let any Tom [SwearFilter] or Harry get involved!
Talk and rumours can be as damaging as starting a fire, it can spread and be more harmful and is an unwanted thing to happen right now.
Bite your tongue, sit on your hands and be patient till we know the facts

[Colin Appleton]

So in layman's terms does this mean the Casson's will sell their share of the club for I'm presuming around six hundred thousand pounds. If memory serves me correct that was how much Holker Street was worth when they took the club over.The £600,000 will then go back into the club to help finance the rest of this season and all of next . So a consortium will not only get a saleable asset, Holker Street but also a non league club which is effectively paid for, for the next one and a half seasons. At the end of that time the consortium could sell the ground and get all their money back. I'm not of course suggesting they would but they could. if you're a local businessman with a bit of spare cash I'd say it's not a bad project to get involved with. You're buying a debt free club which is funded for the next eighteen months and the assets are worth exactly what you've invested. Obviously Andrew Casson will be annoyed about Paul Hornby being described as the new owner because he's worried it will put off any potential new investors.

[barrowfan]

I think that is a disgraceful statement.

The fact is that Casson put out a statement on the club website at 9.00 am yesterday saying he is no longer the owner and inferring that Paul Hornby plus others was.

Paul Hornby then put at a statement at 12.00 noon basically saying the first statement is not factually correct and he is not the owner.

The press reported what was in the public domain which is their job. To say they twisted it is an insult.

If the Cassons had put out a factually correct statement in the first place there would be no misunderstanding!

The whole thing stinks!

[mulholland]

Honourable Secretary of North Korean Football next stop for this lad.

[Bingo]

The accounts of last year had a called up share capital of 3.1 million pounds.. What does this mean

[barrowfan]

The accounts of last year had a called up share capital of 3.1 million pounds.. What does this mean

I think Paul Hornby might know but a Google came up with this: https://www.accountingtools.com/article ... pital.html

[blumooncrab]

In this case it means that the shareholder paid £3.1million
in exchange for 3.1million shares
Shareholder is P Casson
The money has gone in as equity which means that it is not repayable. P Casson is basically giving up his investment- he’s leaving the shares with the club , according to the published statements

[blumooncrab]

Obviously the money has been spent by the club , which was as intended- the accounts show cash in the bank st year end was £17k

[blumooncrab]

Paul Casson could have put the £3m in as debt - which is what most owners do - debt of course is repayable when called in . The fact that he put it in as equity demonstrates his commitment and good intentions- good on you Paul -

[ttnmus]

Can't fault the bloke could quite easily of put it down as a loan.he tried to push the club on obviously it never worked out but the club would of gone under if he hadn't of come in

[Bluebirdstwo]

Can't fault the bloke could quite easily of put it down as a loan.he tried to push the club on obviously it never worked out but the club would of gone under if he hadn't of come in

Spot on .