Outcome of the EGM 4 days early!

1. Land sale agreed
2. No comments from Riddler and board regarding finances due to 'not having up to date accounts at the meeting to refer to however will be told about how the club are healthier than we've ever been.
3. Vote of no confidence in the Riddler not taken due to item not being on the agenda or some other technicality.
4. Shareholders told of on going talks with 'investors'.
5. HMRC debt to be settled with landsale and Chelsea money.


Care to add anymore? We can revisit the thread at 1pm wednesday to compare.....

1. Land sale agreed
2. No comments from Riddler and board regarding finances due to 'not having up to date accounts at the meeting to refer to however will be told about how the club are healthier than we've ever been.
3. Vote of no confidence in the Riddler not taken due to item not being on the agenda or some other technicality. I REALLY HOPE NOT
4. Shareholders told of on going talks with 'investors'.
5. HMRC debt to be settled with landsale and Chelsea money.


Care to add anymore? We can revisit the thread at 1pm wednesday to compare.....

I rekon u won't b far off with that, so demo at boro it will b and storm the boardroom..

I honestly can't see any other outcome than more bullshit.

The club is a joke, everyone is laughing at us. I've lost total faith in MY club due to these jokers who hold the power and that includes Jones.

The best part of a home game is the few beers and grub that I have in Potters Bar and that is very sad.

it almost brings me to tears whay thet are doing to OUR CLUB

my 5yr old was with me today in canton end and he was signing his heart out love him,

yet he has no idea with his young mind what is happening at OUR CLUB

I want OUR CLUB to be here for him in 20 years time & beyond and not with 2k crowds in the basement divs

it seems to go on & on & on while we all stand and observe OUR CLUB being raped

1. Land sale agreed
2. No comments from Riddler and board regarding finances due to 'not having up to date accounts at the meeting to refer to however will be told about how the club are healthier than we've ever been.
3. Vote of no confidence in the Riddler not taken due to item not being on the agenda or some other technicality.
4. Shareholders told of on going talks with 'investors'.
5. HMRC debt to be settled with landsale and Chelsea money.


Care to add anymore? We can revisit the thread at 1pm Wednesday to compare.....

One thing I will agree on and that is the fact that it is very difficult for the fans when the club is run by major shareholders who hold 99% of the aces, so we do what we can to get some accountability for the fans...it is not easy and some fans will give up or just walk away and stop supporting the club altogether.

There is something that everyone on here should realise...although some probably already do.

We owe another £1.6 million to the tax man...plus half a million a month for November, December, January and February (£2 million)...plus March, April, May and June (another 2 million)

That is £1.6 million to stop the winding up order in March and then £4 million by July 1st( the day we allowed to sell players)

We also have wages on March 10...approx £600,000 if you forget about the Tax and National insurance
April 10...approx £600,000 if you forget about the Tax and National insurance
May 10...approx £600,000 if you forget about the Tax and National insurance
June 10...approx £600,000 if you forget about the Tax and National insurance


Then there is the £700,000 for the catering company....

£500,000 to Langston’s

Plus countless other bills we are not yet aware of or have actual facts on..e.g...Bus companies, Vale building, Cardiff Blues ticket money and shop money

Approx £8 million required just to get us to the Transfer window... and that still leaves the huge debts owing to Langston’s, PMG and the other directors.



These are the facts that we are going into the meeting with...we need answers to the above...how does the club intend to get through to the end of this season and why have they built up this situation...why are they still apparently supporting Peter Ridsdale when it is clear to everyone that he is the CEO and therefore accountable.

That is what baffles me more than anything else....the other major shareholders must know all of the above YET THEY DON'T SACK HIM.....WHY?

Some one said it would cost a million to lay him off due to his contract...surely he has not fulfilled the terms of his contract because of the total financial mismanagement he has been in charge of...therefore he can be sacked for incompetence...let him take us to a tribunal...

It is time a forensic accountant went through the last 4 years at our club...

As for the EGM it is just the start in my opinion...something at least the fans can use to try to get answers...what else can we do?

Well that is something we all need to think about if Wednesday is unsuccessful.

Last edited by corky on Sun Feb 21, 2010 1:39 am, edited 1 time in total.

Corky,

That is some scary reading, I honestly can't see a way out. We have to sell sell sell and drop the wage bill dramatically just to survive by the looks of it.

I fully support the Trusts efforts to get answers, I just wish the EGM was forced and not called by the club as I expect the riddler to run the meeting and spin more lies and dodge all the questions that need answering.

Would have been great for Sam Hammam to be there asking questions, I'm sure he could make the riddler sqwirm!

Obviouly we need to work harder to get 5% of the shareholders on board and we really wanted to force our own EGM...Lets see what happens Wednesday and if we are not happy we will go back to plan A and get the 5% we require to force another EGM with our own agenda...

Thanks for your input Dayo...appreciated.

I would like to know at which meeting, who proposed it, who seconded it and what was the overall majority which sanctioned the decision not to pay the HMRC taxes each month. I presume they have taken the money out of the players wages and not paid the taxman. When is this ever a good policy. Which month was this decision made, it is incompetence to the extreme, I presume a collective incompetence.

[quote="city_85"]1. Land sale agreed
2. No comments from Riddler and board regarding finances due to 'not having up to date accounts at the meeting to refer to however will be told about how the club are healthier than we've ever been.
3. Vote of no confidence in the Riddler not taken due to item not being on the agenda or some other technicality.
4. Shareholders told of on going talks with 'investors'.
5. HMRC debt to be settled with landsale and Chelsea money.



An egm is just that, a chance for shareholders to bring up whatever questions they like, it does not have to be on the agenda

1. Land sale agreed
2. No comments from Riddler and board regarding finances due to 'not having up to date accounts at the meeting to refer to however will be told about how the club are healthier than we've ever been.
3. Vote of no confidence in the Riddler not taken due to item not being on the agenda or some other technicality.
4. Shareholders told of on going talks with 'investors'.
5. HMRC debt to be settled with landsale and Chelsea money.


Care to add anymore? We can revisit the thread at 1pm Wednesday to compare.....

One thing I will agree on and that is the fact that it is very difficult for the fans when the club is run by major shareholders who hold 99% of the aces, so we do what we can to get some accountability for the fans...it is not easy and some fans will give up or just walk away and stop supporting the club altogether.

There is something that everyone on here should realise...although some probably already do.

We owe another £1.6 million to the tax man...plus half a million a month for November, December, January and February (£2 million)...plus March, April, May and June (another 2 million)

That is £1.6 million to stop the winding up order in March and then £4 million by July 1st( the day we allowed to sell players)

We also have wages on March 10...approx £600,000 if you forget about the Tax and National insurance
April 10...approx £600,000 if you forget about the Tax and National insurance
May 10...approx £600,000 if you forget about the Tax and National insurance
June 10...approx £600,000 if you forget about the Tax and National insurance


Then there is the £700,000 for the catering company....

£500,000 to Langston’s

Plus countless other bills we are not yet aware of or have actual facts on..e.g...Bus companies, Vale building, Cardiff Blues ticket money and shop money

Approx £8 million required just to get us to the Transfer window... and that still leaves the huge debts owing to Langston’s, PMG and the other directors.



These are the facts that we are going into the meeting with...we need answers to the above...how does the club intend to get through to the end of this season and why have they built up this situation...why are they still apparently supporting Peter Ridsdale when it is clear to everyone that he is the CEO and therefore accountable.

That is what baffles me more than anything else....the other major shareholders must know all of the above YET THEY DON'T SACK HIM.....WHY?

Some one said it would cost a million to lay him off due to his contract...surely he has not fulfilled the terms of his contract because of the total financial mismanagement he has been in charge of...therefore he can be sacked for incompetence...let him take us to a tribunal...

It is time a forensic accountant went through the last 4 years at our club...

As for the EGM it is just the start in my opinion...something at least the fans can use to try to get answers...what else can we do?

Well that is something we all need to think about if Wednesday is unsuccessful.

Corky, are you certain that we havent paid November, December, January etc...

If the iR do a deal on old debts they normally INSIST that the current payments are kept up to date, or they end up back to square 1.
I thought that was where the ST mony went.

I will have to find out for sure Tim...but even if we have done, we still have the monthly wages to pay until July.

This current tax bill was for before November...there is a possibility ofcourse that since then we have paid the due £500,000 plus tax every month.We will find out one day I would imagine.

1. Land sale agreed
2. No comments from Riddler and board regarding finances due to 'not having up to date accounts at the meeting to refer to however will be told about how the club are healthier than we've ever been.
3. Vote of no confidence in the Riddler not taken due to item not being on the agenda or some other technicality.
4. Shareholders told of on going talks with 'investors'.
5. HMRC debt to be settled with landsale and Chelsea money.


Care to add anymore? We can revisit the thread at 1pm Wednesday to compare.....

One thing I will agree on and that is the fact that it is very difficult for the fans when the club is run by major shareholders who hold 99% of the aces, so we do what we can to get some accountability for the fans...it is not easy and some fans will give up or just walk away and stop supporting the club altogether.

There is something that everyone on here should realise...although some probably already do.

We owe another £1.6 million to the tax man...plus half a million a month for November, December, January and February (£2 million)...plus March, April, May and June (another 2 million)

That is £1.6 million to stop the winding up order in March and then £4 million by July 1st( the day we allowed to sell players)

We also have wages on March 10...approx £600,000 if you forget about the Tax and National insurance
April 10...approx £600,000 if you forget about the Tax and National insurance
May 10...approx £600,000 if you forget about the Tax and National insurance
June 10...approx £600,000 if you forget about the Tax and National insurance


Then there is the £700,000 for the catering company....

£500,000 to Langston’s

Plus countless other bills we are not yet aware of or have actual facts on..e.g...Bus companies, Vale building, Cardiff Blues ticket money and shop money

Approx £8 million required just to get us to the Transfer window... and that still leaves the huge debts owing to Langston’s, PMG and the other directors.



These are the facts that we are going into the meeting with...we need answers to the above...how does the club intend to get through to the end of this season and why have they built up this situation...why are they still apparently supporting Peter Ridsdale when it is clear to everyone that he is the CEO and therefore accountable.

That is what baffles me more than anything else....the other major shareholders must know all of the above YET THEY DON'T SACK HIM.....WHY?

Some one said it would cost a million to lay him off due to his contract...surely he has not fulfilled the terms of his contract because of the total financial mismanagement he has been in charge of...therefore he can be sacked for incompetence...let him take us to a tribunal...

It is time a forensic accountant went through the last 4 years at our club...

As for the EGM it is just the start in my opinion...something at least the fans can use to try to get answers...what else can we do?

Well that is something we all need to think about if Wednesday is unsuccessful.

i cant see a way out of this

I will have to find out for sure Tim...but even if we have done, we still have the monthly wages to pay until July.

This current tax bill was for before November...there is a possibility ofcourse that since then we have paid the due £500,000 plus tax every month.We will find out one day I would imagine.

Yeah, paying the wages and other bills for the next 5 months is going to be a nightmare irrespective of any additional tax arrears. Wouldnt be suprised to see the club lend against next years TV money come May, and season tickets for 2011/12 on sale in october.

If the malaysians dont come in I think we'll see a raft of players sold in the summer, and for a lot less than what we expect.

1. Land sale agreed
2. No comments from Riddler and board regarding finances due to 'not having up to date accounts at the meeting to refer to however will be told about how the club are healthier than we've ever been.
3. Vote of no confidence in the Riddler not taken due to item not being on the agenda or some other technicality.
4. Shareholders told of on going talks with 'investors'.
5. HMRC debt to be settled with landsale and Chelsea money.


Care to add anymore? We can revisit the thread at 1pm Wednesday to compare.....

One thing I will agree on and that is the fact that it is very difficult for the fans when the club is run by major shareholders who hold 99% of the aces, so we do what we can to get some accountability for the fans...it is not easy and some fans will give up or just walk away and stop supporting the club altogether.

There is something that everyone on here should realise...although some probably already do.

We owe another £1.6 million to the tax man...plus half a million a month for November, December, January and February (£2 million)...plus March, April, May and June (another 2 million)

That is £1.6 million to stop the winding up order in March and then £4 million by July 1st( the day we allowed to sell players)

We also have wages on March 10...approx £600,000 if you forget about the Tax and National insurance
April 10...approx £600,000 if you forget about the Tax and National insurance
May 10...approx £600,000 if you forget about the Tax and National insurance
June 10...approx £600,000 if you forget about the Tax and National insurance


Then there is the £700,000 for the catering company....

£500,000 to Langston’s

Plus countless other bills we are not yet aware of or have actual facts on..e.g...Bus companies, Vale building, Cardiff Blues ticket money and shop money

Approx £8 million required just to get us to the Transfer window... and that still leaves the huge debts owing to Langston’s, PMG and the other directors.



These are the facts that we are going into the meeting with...we need answers to the above...how does the club intend to get through to the end of this season and why have they built up this situation...why are they still apparently supporting Peter Ridsdale when it is clear to everyone that he is the CEO and therefore accountable.

That is what baffles me more than anything else....the other major shareholders must know all of the above YET THEY DON'T SACK HIM.....WHY?

Some one said it would cost a million to lay him off due to his contract...surely he has not fulfilled the terms of his contract because of the total financial mismanagement he has been in charge of...therefore he can be sacked for incompetence...let him take us to a tribunal...

It is time a forensic accountant went through the last 4 years at our club...

As for the EGM it is just the start in my opinion...something at least the fans can use to try to get answers...what else can we do?

Well that is something we all need to think about if Wednesday is unsuccessful.

And on top of that paul 10,000 season tickets out of next seasons budget have been paid for spent and none of it on tax.
Ridsdale has blatantly lied about the golden ticket scheme for bringing players in.
he would have known all along the financial position of the club prior to that offer and never at any stage did he say that it was dependant on outside investment and players sales to use the season ticket money for bringing new players in.
I feel if the vote of confidence is called for on wednesday and the board back ridsdale the club comes closer to administration and then possibly liquidation.
i totally agree with your figures and believed ridsdale was gambling on selling matthews, ledley and ross and getting an investor on board just to get us to the summer.
The ben steele fiasco is a sign of how desperate he was to get money in as a simple search through any credit agency would have exposed ben steele's limited finances.
we could go on all night paul but even my optomism is being pushed to the limit now

Why do we owe Vale building when it was Laing o Rourke who were the main contractors? Surely if we owed money for construction it would be to Laing?

Why do we owe Vale building when it was Laing o Rourke who were the main contractors? Surely if we owed money for construction it would be to Laing?

I think he means we owe the Vale rent for using the facilities.

CCFC don't own the Vale training centre. They lease it.

Why do we owe Vale building when it was Laing o Rourke who were the main contractors? Surely if we owed money for construction it would be to Laing?

vale did the internal fit out works within the stadium as laing's only built the stadium to a basic standard

Why do we owe Vale building when it was Laing o Rourke who were the main contractors? Surely if we owed money for construction it would be to Laing?

vale did the internal fit out works within the stadium as laing's only built the stadium to a basic standard

i think they are owed around £500,000 not sure what the total contract was but since the summer pr has been lying to them about monies coming

Why do we owe Vale building when it was Laing o Rourke who were the main contractors? Surely if we owed money for construction it would be to Laing?

vale did the internal fit out works within the stadium as laing's only built the stadium to a basic standard

also steve, retention on tthe original contract will be due 12 months after origunal ''practical completion'' of approx 5 % of full construction cost approx 2 million i would say, vince alm can confirm but normally 5 %

work it out for yourselves we are up shitcreek without a paddle

Why do we owe Vale building when it was Laing o Rourke who were the main contractors? Surely if we owed money for construction it would be to Laing?

vale did the internal fit out works within the stadium as laing's only built the stadium to a basic standard

i think they are owed around £500,000 not sure what the total contract was but since the summer pr has been lying to them about monies coming

I take it thats the 7m he's talking about for overspend on fitting out the building. i cant get my head around that as surely the cost of fit out was known very early on!! Its doing my head in now need to stop thinking about it!

vale did the internal fit out works within the stadium as laing's only built the stadium to a basic standard[/quote]

i think they are owed around £500,000 not sure what the total contract was but since the summer pr has been lying to them about monies coming[/quote]

I take it thats the 7m he's talking about for overspend on fitting out the building. i cant get my head around that as surely the cost of fit out was known very early on!! Its doing my head in now need to stop thinking about it![/quote]

pr said that the fitout will cost 5 million from day one of project so how can it go 7 million over budget that means it cost 12 million for the fit out as i can see theres no gold plated taps in the bogs!

Why do we owe Vale building when it was Laing o Rourke who were the main contractors? Surely if we owed money for construction it would be to Laing?

vale did the internal fit out works within the stadium as laing's only built the stadium to a basic standard

also steve, retention on tthe original contract will be due 12 months after origunal ''practical completion'' of approx 5 % of full construction cost approx 2 million i would say, vince alm can confirm but normally 5 %

work it out for yourselves we are up shitcreek without a paddle

Practical completion would have been certified by now but the retention would be due com June time! 5% of 60m not good! Could be just 2.5% left thou! Still at least 2.5m!!!

vale did the internal fit out works within the stadium as laing's only built the stadium to a basic standard

i think they are owed around £500,000 not sure what the total contract was but since the summer pr has been lying to them about monies coming[/quote]

I take it thats the 7m he's talking about for overspend on fitting out the building. i cant get my head around that as surely the cost of fit out was known very early on!! Its doing my head in now need to stop thinking about it![/quote]

pr said that the fitout will cost 5 million from day one of project so how can it go 7 million over budget that means it cost 12 million for the fit out as i can see theres no gold plated taps in the bogs![/quote]


Personally I think he's talking bollox.

i'm pretty certain since62 said the TOTAL spend was £7m as against a budget of £4m .

judging by what PR said in the meeting with the Trust a year or so ago their budget was in fact £5m and they were expecting an overspend - one of the items cited was undersoil heating and PR was moaning about the eggers not wanting to pay their share. They were also hoping that the catering contracts/bar contracts would cover a good chunk of it. But a £7m overspend is, I'm sure just Ridsdale spouting bollox again. To blame it for our problems is just shit.

1. He was happy to take his bonus despite this massive and IMHO, if true ridiculous and irresponsible overspend.
2. Many of these people havent been paid anyway.
3. I'm sure its basically just not true anyway.

1. Land sale agreed
2. No comments from Riddler and board regarding finances due to 'not having up to date accounts at the meeting to refer to however will be told about how the club are healthier than we've ever been.
3. Vote of no confidence in the Riddler not taken due to item not being on the agenda or some other technicality.
4. Shareholders told of on going talks with 'investors'.
5. HMRC debt to be settled with landsale and Chelsea money.


Care to add anymore? We can revisit the thread at 1pm Wednesday to compare.....

One thing I will agree on and that is the fact that it is very difficult for the fans when the club is run by major shareholders who hold 99% of the aces, so we do what we can to get some accountability for the fans...it is not easy and some fans will give up or just walk away and stop supporting the club altogether.

There is something that everyone on here should realise...although some probably already do.

We owe another £1.6 million to the tax man...plus half a million a month for November, December, January and February (£2 million)...plus March, April, May and June (another 2 million)

That is £1.6 million to stop the winding up order in March and then £4 million by July 1st( the day we allowed to sell players)

We also have wages on March 10...approx £600,000 if you forget about the Tax and National insurance
April 10...approx £600,000 if you forget about the Tax and National insurance
May 10...approx £600,000 if you forget about the Tax and National insurance
June 10...approx £600,000 if you forget about the Tax and National insurance


Then there is the £700,000 for the catering company....

£500,000 to Langston’s

Plus countless other bills we are not yet aware of or have actual facts on..e.g...Bus companies, Vale building, Cardiff Blues ticket money and shop money

Approx £8 million required just to get us to the Transfer window... and that still leaves the huge debts owing to Langston’s, PMG and the other directors.



These are the facts that we are going into the meeting with...we need answers to the above...how does the club intend to get through to the end of this season and why have they built up this situation...why are they still apparently supporting Peter Ridsdale when it is clear to everyone that he is the CEO and therefore accountable.

That is what baffles me more than anything else....the other major shareholders must know all of the above YET THEY DON'T SACK HIM.....WHY?

Some one said it would cost a million to lay him off due to his contract...surely he has not fulfilled the terms of his contract because of the total financial mismanagement he has been in charge of...therefore he can be sacked for incompetence...let him take us to a tribunal...

It is time a forensic accountant went through the last 4 years at our club...

As for the EGM it is just the start in my opinion...something at least the fans can use to try to get answers...what else can we do?

Well that is something we all need to think about if Wednesday is unsuccessful.

For anyone who cant be bothered to read a long post (lazy shits) I have cut it down for you:

WERE FUCKED

Why do we owe Vale building when it was Laing o Rourke who were the main contractors? Surely if we owed money for construction it would be to Laing?

vale builders of taffs well did all the internal building work and the bill is reported to be 500k
clive will be the next one given some shares for his work carried out

Obviouly we need to work harder to get 5% of the shareholders on board and we really wanted to force our own EGM...Lets see what happens Wednesday and if we are not happy we will go back to plan A and get the 5% we require to force another EGM with our own agenda...

Thanks for your input Dayo...appreciated.

say again corks ...... fully on your side though mate

Corky, are you certain that we havent paid November, December, January etc...

If the iR do a deal on old debts they normally INSIST that the current payments are kept up to date, or they end up back to square 1.
I thought that was where the ST mony went.

That is a good point and we shouldn't assume that tax is owing from November December and January as in all likelihood the advanced season ticket money took care of those months because the HMRC wouldn't allow it any other way.

I think Corky's breakdown is easier explained by a £1.2m P/M wage bill which will include wages taxes and NI contributions.

That translates to £6m between now and May.

As of the begining of Feb the tax bill was around the 4 million mark.

1. Land sale agreed
2. No comments from Riddler and board regarding finances due to 'not having up to date accounts at the meeting to refer to however will be told about how the club are healthier than we've ever been.
3. Vote of no confidence in the Riddler not taken due to item not being on the agenda or some other technicality.
4. Shareholders told of on going talks with 'investors'.
5. HMRC debt to be settled with landsale and Chelsea money.

not far off pal
Care to add anymore? We can revisit the thread at 1pm wednesday to compare.....