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whitty1969 wrote: ↑Mon Jan 18, 2021 5:46 pm

Wintergreen wrote: ↑Mon Jan 18, 2021 5:37 pm

Did Spirit take a picture? Asking for a friend.

Well played Mark - you helped create a bit of history at the club.
Good luck for the future.

There is a picture . The 2 lads in the skip are that ugly the skip looks good
Maybe Ian can post it but bet he doesn't....

It’s a video, and I’ve mislaid it, or burnt it, or buried it. It’s gone.

I believe I’m mentally scarred by that.

spirit of 1990 wrote: ↑Mon Jan 18, 2021 5:55 pm

whitty1969 wrote: ↑Mon Jan 18, 2021 5:46 pm

There is a picture . The 2 lads in the skip are that ugly the skip looks good
Maybe Ian can post it but bet he doesn't....

It’s a video, and I’ve mislaid it, or burnt it, or buried it. It’s gone.

I believe I’m mentally scarred by that.

Haha. That old chestnut....

whitty1969 wrote: ↑Mon Jan 18, 2021 5:58 pm

spirit of 1990 wrote: ↑Mon Jan 18, 2021 5:55 pm

It’s a video, and I’ve mislaid it, or burnt it, or buried it. It’s gone.

I believe I’m mentally scarred by that.

Haha. That old chestnut....

Which naked fella in the skip only has one old chestnut, asking for a friend

Echo everyone’s sentiments on Ebbo & his legacy is cemented forever in our history as 1 of the few guys who made us all believe again, chased down that impossible dream & made history, Let’s romp up the table now.

Thank you Mr Hetherington for your time,energy,enthusiasm,money and most important the hope that you gave us fans that our club could be renovated and refreshed and would have a secure future.Hope you better soon and look forward to seeing you Back in the “posh” seats”in front of me when this mad world gets back to normal.

saltcellar wrote: ↑Mon Jan 18, 2021 1:49 pm

Alley_Cat wrote: ↑Mon Jan 18, 2021 12:13 pm So the club are looking for a new director/10% stake, what is 10% of the club worth?

I would imagine the same as the 10% the trust pay.

Do you have the ability to answer the question?

I would echo so many of the comments above . . . thank you very much, Mark. I knew him just a little from his connections with junior football some years back and he always struck me as a thoroughly genuine individual. I wasn't aware of the health issue alluded to in some of the posts above but, whatever it is, my best wishes for a full recovery.

Smashing lad, really easy to get on with. The amount of work he did unfortunately won't be noticed by many but to his credit he put a good shift in. Glad to say he's looking much better now and much more mobile, hope he enjoys watching the football which he helped bring us

Owners such as Mark deserve huge credit for where we currently are, taken from the trust newsletter
“It will also mean that, all together, the owners will have injected over £2million into the Club in about three years.”

Alley_Cat wrote: ↑Tue Jan 19, 2021 10:20 am

saltcellar wrote: ↑Mon Jan 18, 2021 1:49 pm

I would imagine the same as the 10% the trust pay.

Do you have the ability to answer the question?

Perhaps, but you do anyway by reading the Trust financial report - a 10% owner will have put £135000 in so far with the expectation of a further £70000 or more to come in the current financial year and more to commit beyond that.

Mark Hetherington deserves our thanks for stepping forward and his commitment of money, time and expertise as a director. I wish him the very best.

Hadrian wrote: ↑Tue Jan 19, 2021 1:13 pm

Alley_Cat wrote: ↑Tue Jan 19, 2021 10:20 am
Do you have the ability to answer the question?

Perhaps, but you do anyway by reading the Trust financial report - a 10% owner will have put £135000 in so far with the expectation of a further £70000 or more to come in the current financial year and more to commit beyond that.

Mark Hetherington deserves our thanks for stepping forward and his commitment of money, time and expertise as a director. I wish him the very best.

Not referring to Mark in particular but would someone leaving the board normally have their investment returned?

Could well influence someone making a decision to come on board - sorry about the pun!

bluessupporter wrote: ↑Tue Jan 19, 2021 3:13 pm

Hadrian wrote: ↑Tue Jan 19, 2021 1:13 pm
Perhaps, but you do anyway by reading the Trust financial report - a 10% owner will have put £135000 in so far with the expectation of a further £70000 or more to come in the current financial year and more to commit beyond that.

Mark Hetherington deserves our thanks for stepping forward and his commitment of money, time and expertise as a director. I wish him the very best.

Not referring to Mark in particular but would someone leaving the board normally have their investment returned?

Could well influence someone making a decision to come on board - sorry about the pun!

Presume it’s the same as the play your part, contribute for the love of the club. Imagine if we’d had to return the few million that Casson had pumped in?

Bombadel wrote: ↑Tue Jan 19, 2021 3:31 pm

bluessupporter wrote: ↑Tue Jan 19, 2021 3:13 pm

Not referring to Mark in particular but would someone leaving the board normally have their investment returned?

Could well influence someone making a decision to come on board - sorry about the pun!

Presume it’s the same as the play your part, contribute for the love of the club. Imagine if we’d had to return the few million that Casson had pumped in?

I suspect it depends on the value of the club, on what the market thinks is a fair price for this stake. Casson left the club in a mess financially and was probably not in a position to sustain the losses during a search for a buyer. In any event, I doubt it would have covered much beyond the value of the land.

For MH the situation is totally different. The club has value. The ground has been upgraded, the league we are in has some good revenue opportunities and the players are on contracts which offer value if they were to be sold.

I doubt MH will get the full amount back but I would be shocked if the stake wasn't worth somewhere in the region of £150,000, putting the value of the club in the region of £1.5 mil. (obviously this is complete guesswork and I have no idea but I wouldn't be surprised).

Alley_Cat wrote: ↑Mon Jan 18, 2021 12:13 pm So the club are looking for a new director/10% stake, what is 10% of the club worth?

I don't know the ins and outs of Marks position, although he has resigned as a Director he is still an owner of the club unless he walks away from that as well.

Or until his share of the club is bought?

bigmac95 wrote: ↑Tue Jan 19, 2021 3:51 pm

Bombadel wrote: ↑Tue Jan 19, 2021 3:31 pm

Presume it’s the same as the play your part, contribute for the love of the club. Imagine if we’d had to return the few million that Casson had pumped in?

I suspect it depends on the value of the club, on what the market thinks is a fair price for this stake. Casson left the club in a mess financially and was probably not in a position to sustain the losses during a search for a buyer. In any event, I doubt it would have covered much beyond the value of the land.

For MH the situation is totally different. The club has value. The ground has been upgraded, the league we are in has some good revenue opportunities and the players are on contracts which offer value if they were to be sold.

I doubt MH will get the full amount back but I would be shocked if the stake wasn't worth somewhere in the region of £150,000, putting the value of the club in the region of £1.5 mil. (obviously this is complete guesswork and I have no idea but I wouldn't be surprised).

I dont know the ins and out of the specifics of the situation but I very much doubt the shares have any real value.

My outsiders view is that the owners have bought shares and each year there has been a loss. To cover this loss new shares have been issued in proportion to the existing shareholders to maintain their equity stake. Each year there is a loss they have agreed to contribute their % of the loss and purchase more shares to that value.

Therefore the underlying value of the company hasn't really increased (yes the ground has been improved but I would question whether it has really 'added value' as a lot of it was to maintain some things that had deteriorated over the years and others were costs for grading purposes that had to be done -) - Also the only way an value is obtained from the ground would be to sell it which I suspect would only happen if a new one was being built and therefore any proceeds would presumably be rolled into the cost of a new one not be available for any owner to get the funds out.

The other main thing about value is that you are in effect 'buying' an obligation to spend more money as you would be required to fund your % of future losses - and whilst the idea of a club running at breakeven sounds simple there are probably 90% of lower league clubs who have not managed to achieve this consistently. You are therefore not buying an asset as much as taking over responsibility for a future liability.

From a buyers perspective would you pay £150000 for some shares from one person and then immediately pay another £75k to cover the losses of the company and then also at best be committed to another £35k next year.

Casson put a lot of money into the club and converted it all to shares which the current owners then took over for nothing, but they did take on the responsibility to fund future losses. I woudl expect that any of the current owners would end up in a similar position as if you had £225k to spend woudl you rather pay £150k to someone and only put £75k into the club or would you rather keep the £225k all to use for the future costs of the club.

I suspect the idea of football club owners 'investing' is a bit of a misnomer - they are funding the club not investing it as I cant think of many lower league clubs where someone has ploughed loads into a club and then sold it and recovered all or even any of their money (except for some dodgy attempts at land grabs which is certainly not the case in this situation)

I wish Mark well but I would suspect he is looking more to offload a liability rather than expecting anyone to pay back what he put in (but I may be wrong)