Coley Parry, LO director, & Vitesse

[PKM]

Not the sort of thing you want an investor and director of Leyton Orient to be associated with.
I think we need a statement from Nigel on this. Ok, doesn’t directly impinge on us, but there are important questions here on the due diligence that should be done to be an investor in Leyton Orient, especially given our very recent past.

https://nltimes.nl/2024/04/03/vitesse-f ... les-report

[Hoover Attack]

‘But Parry has collateral on the transfer fee and can claim part of that sum.’

Nice.

[OyinbO]

‘But Parry has collateral on the transfer fee and can claim part of that sum.’

Nice.

"Pay me or the Football Club dies"

We've been here before. Alongside Nigel.

[Proposition Joe]

https://www.dutchnews.nl/2024/02/dutch- ... to-appeal/

Mr Parry's dealings with Vitesse might not affect us directly but it's a bit of a red flag that the Dutch FA, when rejecting the takeover, are essentially questioning whether The Common Group actually has the money he says they have.

Also, how can you be a director of one club while owning another? Thought that wasn't allowed? Or is that only relevant when we fulfil our destiny and draw them in the Europa League?

[Proposition Joe]

Also interesting to see that, while we endured our set piece shitshow earlier this season, Common Group's other club in Belgium are absolutely bossing the free kicks and corners - gotta be some info to share:

https://totalfootballanalysis.com/set-p ... is-tactics

[Proposition Joe]

https://www.dutchnews.nl/2024/02/dutch- ... to-appeal/

Mr Parry's dealings with Vitesse might not affect us directly but it's a bit of a red flag that the Dutch FA, when rejecting the takeover, are essentially questioning whether The Common Group actually has the money he says they have.

Also, how can you be a director of one club while owning another? Thought that wasn't allowed? Or is that only relevant when we fulfil our destiny and draw them in the Europa League?

Ah, see this is already covered by OyinbO on another thread.

[aylesburyos]

Dodgy Russians & Abramovich still involved. Shame on them & Chelski

[OyinbO]

Dodgy Russians & Abramovich still involved. Shame on them & Chelski

Can't really blame then for this, I'm afraid.

[LittleMate]

I don't see the problem here. Parry has borrowed a club thats losing bundles, a sum of money as an advance on transfer receipts. As a result he probably has a charge on those funds because if the takeover fails he's a few quid down with very little way of getting his dough back. That the Dutch FA don't like his takeover proposals is a separate matter.

His investment in our club is not a large one and although a director he has no day to day control at the club; his investment groups business elsewhere is none of our concern and certainly does not merit a statement from Nigel. if we got one it would state its got nothing to do with us.

[PKM]

Re

‘his investment groups business elsewhere is none of our concern’

I beg to differ, it certainly is our concern . Should we have been concerned, or interested, or aware of Bechetti and his family’s business dealings?
No different with Parry, absolutely we should be concerned.
Otherwise might as well not bother with any due diligence at all.
You would think O’s fans at least would be aware of these issues.

[Hoover Attack]

I don't see the problem here. Parry has borrowed a club thats losing bundles, a sum of money as an advance on transfer receipts. As a result he probably has a charge on those funds because if the takeover fails he's a few quid down with very little way of getting his dough back. That the Dutch FA don't like his takeover proposals is a separate matter.

His investment in our club is not a large one and although a director he has no day to day control at the club; his investment groups business elsewhere is none of our concern and certainly does not merit a statement from Nigel. if we got one it would state its got nothing to do with us.

Good to see the lessons of 2014 - 2017 have been firmly forgotten.

[LittleMate]

Hoover, he has no day to day influence over our club and he has done nothing wrong anywhere. He's being a lot smarter than 777 group are with Everton. They have loaned c. £100 million unsecured - so if the PL reject the bid then only god knows what will happen there. All Parry is done is give them an advance on the transfer instalments - and he wants his dough back when Stoke make the payments.

[OyinbO]

I don't see the problem here. Parry has borrowed a club thats losing bundles, a sum of money as an advance on transfer receipts. As a result he probably has a charge on those funds because if the takeover fails he's a few quid down with very little way of getting his dough back. That the Dutch FA don't like his takeover proposals is a separate matter.

His investment in our club is not a large one and although a director he has no day to day control at the club; his investment groups business elsewhere is none of our concern and certainly does not merit a statement from Nigel. if we got one it would state its got nothing to do with us.

The Dutch FA not liking his takeover is very much not a separate matter, given the reason for them rejecting it is that they found no evidence he had the money to see it through. Which makes his hardass approach to asset stripping the club while they sink to relegation a bit questionable, no?

His investment in Orient is considerable btw: he has a larger holding than Kent Teague.

[Proposition Joe]

Man who invests in our club pulled up by another country's FA because they don't think he has the money he says he has, "la la la, nothing to do with us ".

[Long slender neck]

I don't see the problem here. Parry has borrowed a club thats losing bundles, a sum of money as an advance on transfer receipts. As a result he probably has a charge on those funds because if the takeover fails he's a few quid down with very little way of getting his dough back. That the Dutch FA don't like his takeover proposals is a separate matter.

His investment in our club is not a large one and although a director he has no day to day control at the club; his investment groups business elsewhere is none of our concern and certainly does not merit a statement from Nigel. if we got one it would state its got nothing to do with us.

The Dutch FA not liking his takeover is very much not a separate matter, given the reason for them rejecting it is that they found no evidence he had the money to see it through. Which makes his hardass approach to asset stripping the club while they sink to relegation a bit questionable, no?

His investment in Orient is considerable btw: he has a larger holding than Kent Teague.

Thought KT was the principal investor? I took this to mean one with largest share.

[OyinbO]

I don't see the problem here. Parry has borrowed a club thats losing bundles, a sum of money as an advance on transfer receipts. As a result he probably has a charge on those funds because if the takeover fails he's a few quid down with very little way of getting his dough back. That the Dutch FA don't like his takeover proposals is a separate matter.

His investment in our club is not a large one and although a director he has no day to day control at the club; his investment groups business elsewhere is none of our concern and certainly does not merit a statement from Nigel. if we got one it would state its got nothing to do with us.

The Dutch FA not liking his takeover is very much not a separate matter, given the reason for them rejecting it is that they found no evidence he had the money to see it through. Which makes his hardass approach to asset stripping the club while they sink to relegation a bit questionable, no?

His investment in Orient is considerable btw: he has a larger holding than Kent Teague.

Thought KT was the principal investor? I took this to mean one with largest share.

That was his title until summer 2021

[PKM]

Common Sport, presumably Parry, own 3.2m shares.
Kent Teague, who I believe is LOFC 1881 on companies house, owns 1.5m

There’s 17.3m shares
Nigel owns c 46% at last accounting date
Parry 18.5%
Teague 8.7%.

It’s all there on Companies House under Eagle Investments 2017 Ltd

Note that Leyton Orient FC is a subsidiary of Eagle Investments.

[PKM]

Ps, Eagle own 90.4% of LOFC

[aylesburyos]

Common Sport, presumably Parry, own 3.2m shares.
Kent Teague, who I believe is LOFC 1881 on companies house, owns 1.5m

There’s 17.3m shares
Nigel owns c 46% at last accounting date
Parry 18.5%
Teague 8.7%.

It’s all there on Companies House under Eagle Investments 2017 Ltd

Note that Leyton Orient FC is a subsidiary of Eagle Investments.

Didn't KT write off some cash in order to get Coley Parry & others on board

[LittleMate]

I don't see the problem here. Parry has borrowed a club thats losing bundles, a sum of money as an advance on transfer receipts. As a result he probably has a charge on those funds because if the takeover fails he's a few quid down with very little way of getting his dough back. That the Dutch FA don't like his takeover proposals is a separate matter.

His investment in our club is not a large one and although a director he has no day to day control at the club; his investment groups business elsewhere is none of our concern and certainly does not merit a statement from Nigel. if we got one it would state its got nothing to do with us.

The Dutch FA not liking his takeover is very much not a separate matter, given the reason for them rejecting it is that they found no evidence he had the money to see it through. Which makes his hardass approach to asset stripping the club while they sink to relegation a bit questionable, no?

His investment in Orient is considerable btw: he has a larger holding than Kent Teague.

Please explain how Parry is asset stripping Vitesse. I will explain what I believe to have happened first - so it gives you a chance to shoot it down.

Vitesse are in the sh*t because of their Ukranian owner; cash is tight. They sell a player to Stoke and agree a payment plan. Its the best they can do but they still have cashflow difficulties. Parry steps in as a potential investor, subject to clearance. He advances them a sum of money that is agreed to be repaid as the instalments from Stoke are received. Stoke are paying and Parry is getting his money - but Vitesse continue to be in the sh*t. Vitesse are going to try and renegotiate the deal they made with Parry. At what point has Parry asset stripped?

As a separate question, does Parry have any history of asset stripping any other sporting entities?

And here's a final one. How can Parry potentially asset strip us when we lose £50k a week and have sweet fa in assets?

[Proposition Joe]

Stoke signed that player in the January transfer window this year. Parry's attempted takeover was at the end of 2022. The above seems a highly misleading summary. Are you Coley Parry?

[LittleMate]

Stoke signed that player in the January transfer window this year. Parry's attempted takeover was at the end of 2022. The above seems a highly misleading summary. Are you Coley Parry?

I've been called many things but not him! Would not mind being a pound behind him though!!

[Max B Gold]

I don't see the problem here. Parry has borrowed a club thats losing bundles, a sum of money as an advance on transfer receipts. As a result he probably has a charge on those funds because if the takeover fails he's a few quid down with very little way of getting his dough back. That the Dutch FA don't like his takeover proposals is a separate matter.

His investment in our club is not a large one and although a director he has no day to day control at the club; his investment groups business elsewhere is none of our concern and certainly does not merit a statement from Nigel. if we got one it would state its got nothing to do with us.

The Dutch FA not liking his takeover is very much not a separate matter, given the reason for them rejecting it is that they found no evidence he had the money to see it through. Which makes his hardass approach to asset stripping the club while they sink to relegation a bit questionable, no?

His investment in Orient is considerable btw: he has a larger holding than Kent Teague.

Please explain how Parry is asset stripping Vitesse. I will explain what I believe to have happened first - so it gives you a chance to shoot it down.

Vitesse are in the sh*t because of their Ukranian owner; cash is tight. They sell a player to Stoke and agree a payment plan. Its the best they can do but they still have cashflow difficulties. Parry steps in as a potential investor, subject to clearance. He advances them a sum of money that is agreed to be repaid as the instalments from Stoke are received. Stoke are paying and Parry is getting his money - but Vitesse continue to be in the sh*t. Vitesse are going to try and renegotiate the deal they made with Parry. At what point has Parry asset stripped?

As a separate question, does Parry have any history of asset stripping any other sporting entities?

And here's a final one. How can Parry potentially asset strip us when we lose £50k a week and have sweet fa in assets?

We don't know what the club gave Parry in return for the loan nor the other terms attached to the acquisition. If the club are trying to renegotiate it suggests the terms may not have been very favourable.

I read that one of the reasons the deal is being held up by the KNVB is because there is no identifiable "Proof of Funds" and it has not been possible to identify how much funding will flow in to the club.

If he has the money why not just show them and the deal gets approved.

[Hoover Attack]

I've been called many things but not him! Would not mind being a pound behind him though!!

No idea how much he's worth, nor where his funds have come from...?

[PKM]

Talk of asset stripping misses the mark by a long way.
The Dutch footballing authorities are not convinced this guy has the money.
Parry is an 18.5% shareholder of Eagle Investments, which, in turn, owns 90% of Leyton Orient.
The accounts of Leyton Orient are passed as a going concern as the losses are funded by Eagle.
Unless they have a different arrangement, then the directors of Eagle will be expected to fund Leyton Orient in proportion to their shareholding. So Parry will be expected to fund his share of the losses and provide funds as per the agreed budget.
Let’s hope this guy has the funds, as otherwise that’s an 18% shortfall that the other directors will have to make up, or else the budget will have to be cut.
There are several questions arising from Parry’s Dutch ‘adventures’
Was suitable DD done? Is Parry a suitable investor for our club?
Is Parry able to fund his 18%+ share?
What are Parry’s longer term aims wrt LO
More generally, what do these investors get out of Leyton Orient, apart from their share of losses! How does Nigel attract these people, I would be interested to know what the narrative is. Are they all benevolent benefactors, as I’m sure Nigel is, or have promises or forecasts been made to get their investment?
These are all very legitimate questions for all Leyton Orient fans, especially given our recent history.
I