Updated Statement From Andrew Casson

[sambino]

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

[sambino]

Does this mean the Casson and giving the Club over to Paul H and other directors ?

[boyliegladbach]

Misread it

[Lowtower]

“Once again, rather than focus on the content of statements put out by the club, local media have decided to twist them into a preferred narrative "

This sort of statement is bound to get the local media onside.

[DaveP]

Typical Andrew, this statement is totally obtuse and muddies the water even further.

Will Paul Casson write off his loans to the Company

What money is in the club at the moment?

Simple questions which need simple answers. Yes there will be more info on Friday but why wasn't a simple statement made to clarify this.

Usual smoke and mirrors instead of straightforward statements

[Kieran]

A farcical statement typical of AC's involvement with the club.

It neither serves any purpose at all or tells us anything useful.

[HenneysKnee]

So he’s put out a statement to clarify things and ended up clarifying nothing, I don’t think any other companies will be fighting each other to get him on board as MD somehow

[Backofthenet]

Which local media is he referring to? I've just had a quick scan of the articles on the mail website and cannot see anything that is twisted....

[Lowtower]

So I read that

We are starting from scratch , zero balance, zero debts.

Whatever we need to survive this season is going to come from shares sold to the non existent (at the moment) new owners/board.

The local press (and probably the forum) are at fault for trying to work out from 2 original statements (one of which had to be changed) what was going on and reporting/discussing that.

We now have another aggressive statement saying that the media aren't helping by reporting about what was released by the club, which will lead to more discussions and reporting.

Pauls on holiday.

[Lowtower]

" I will be stepping down as managing director of the club following Saturday’s game."

Every cloud....................

[Dalton Bluebird]

Which local media is he referring to? I've just had a quick scan of the articles on the mail website and cannot see anything that is twisted....

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

[barrowaberdeen]

The shares in the company, and all of its assets, including the ground, will remain with the club and its directors.

As far as I understand it, this means the Cassons are walking away on Monday with no further involvement or expectation of return, except them advancing a small final investment in running costs.

The rest of it I would ignore as a petulant parting shot at the local media. It makes no difference to the next steps.

[Hitthebar22]

The shares in the company, and all of its assets, including the ground, will remain with the club and its directors.

As far as I understand it, this means the Cassons are walking away on Monday with no further involvement or expectation of return, except them advancing a small final investment in running costs.

The rest of it I would ignore as a petulant parting shot at the local media. It makes no difference to the next steps.

Totally agree. It simply means the financial plug is being pulled and the Barrow cash cow will vanish.

[DaveP]

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.

[boyliegladbach]

Which local media is he referring to? I've just had a quick scan of the articles on the mail website and cannot see anything that is twisted....

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"