Coley Parry, LO director, & Vitesse

[Rubex Kube]

But what if they haven’t got the funds, as seems to be the case???

What if they have? Unless you are bank manager of those Individuals how would you know

You have been reading this thread, right?

Yes

[Orient Punxx]

This rather detracts when in comes to finding additional shareholders. If I had a few mill to invest this issue would certainly be a flag in my due diligence.

[LittleMate]

No risk at all until he uses his Orient shares as collateral to buy other clubs.

Well they are paid for so what is the issue. I doubt if anyone would accept Orient shares as collateral. Anyone sensible would ask for a bank guarantee

Which he obviously doesn’t have, hence what’s going on at other clubs. Is he free to sell his stake at Orient to whoever he wants? A quick google shows shares can be used to secure a loan. Still no risk to you?

It is absolutely insane how many Orient fans are turning a blind eye to all this. Nigel needs to to release a statement explaining why Orient aren’t at risk.

I'm equally amazed by fans (me included) who just expect owners to catch the bill then moan when they go bust doing it. If I won the Euromillions I'd never buy a football club. Orient would have me worrying about how little I had left within a decade. David Whelan & John Madejski both sunk eight figure sums into their clubs without really leaving them better off.

As for Nigel needing to make a statement......those that wanted one probably would be sceptical about what he said anyway.

[BiggsyMalone]

Well they are paid for so what is the issue. I doubt if anyone would accept Orient shares as collateral. Anyone sensible would ask for a bank guarantee

Which he obviously doesn’t have, hence what’s going on at other clubs. Is he free to sell his stake at Orient to whoever he wants? A quick google shows shares can be used to secure a loan. Still no risk to you?

It is absolutely insane how many Orient fans are turning a blind eye to all this. Nigel needs to to release a statement explaining why Orient aren’t at risk.

I'm equally amazed by fans (me included) who just expect owners to catch the bill then moan when they go bust doing it. If I won the Euromillions I'd never buy a football club. Orient would have me worrying about how little I had left within a decade. David Whelan & John Madejski both sunk eight figure sums into their clubs without really leaving them better off.

As for Nigel needing to make a statement......those that wanted one probably would be sceptical about what he said anyway.

We’re not talking about that. We’re talking about a significant shareholder who can’t prove to the Dutch and Belgian FAs where his money is coming from. He is able to use that shareholding to leverage a loan. If you can’t see why that is an issue for Orient, then I don’t know what to say. You nearly lost this club less than 10 years ago, you’re potentially blindly allowing it to happen again if you don’t ask questions.

Nigel bangs on about transparency, that’s why he should be transparent now.

Wigan won the FA cup and got into europe. Dave Whelan is a really poor example.

[Proposition Joe]

Is Whelan a poor example? His intentions were clearly good, but similar to Portsmouth during the Redknapp years, yes they got into Europe but their finances were in no way viable once a benefactor couldn't or wouldn't carry on pouring money down the drain and they almost completely tanked afterwards (appreciate Wigan had a very dodgy owner in between but their books were terrible beforehand).

[Lifelongfan]

Complete overreacrtion, Orient shares paid for. Not the major shareholder.

[BiggsyMalone]

Complete overreacrtion, Orient shares paid for. Not the major shareholder.

What part of using shares to secure a loan not being off the cards are you not understanding?

[BiggsyMalone]

Is Whelan a poor example? His intentions were clearly good, but similar to Portsmouth during the Redknapp years, yes they got into Europe but their finances were in no way viable once a benefactor couldn't or wouldn't carry on pouring money down the drain and they almost completely tanked afterwards (appreciate Wigan had a very dodgy owner in between but their books were terrible beforehand).

They were unlucky. Their relegation coincided with the global financial crash and the downfall of JJB/DW. Wigan is a rugby league town and always struggled with crowds but Whelan gave them 8 years in the Premier League and an FA Cup.

Portsmouth is a good example but you could look at Bournemouth on the other hand who have pumped money in and done things properly.

[Hoover Attack]

I'm equally amazed by fans (me included) who just expect owners to catch the bill then moan when they go bust doing it.

No one made parry buy shares in Orient. He’s done it of his own free will as part of his football empire building plan.

But having done so, he’s on the hook for any future losses. (just as he benefits from any future profits/gains).

[Max B Gold]

They fund the losses again

At what point can the losses no longer be funded? Are we close yet?

I'm not a shareholder, I don't know what money they have

Hmm. Isn't this lack of knowledge the issue.

[Rubex Kube]

At what point can the losses no longer be funded? Are we close yet?

I'm not a shareholder, I don't know what money they have

Hmm. Isn't this lack of knowledge the issue.

You asked " are we close yet"? So yes you have a lack of knowledge on the issue

[Max B Gold]

I'm not a shareholder, I don't know what money they have

Hmm. Isn't this lack of knowledge the issue.

You asked " are we close yet"? So yes you have a lack of knowledge on the issue

Eh? You just said we don't now how much money the shareholders have. We do know about Parry, though, and looking at his failures to stump up abroad, the answer appears to be not much.

[Rubex Kube]

Hmm. Isn't this lack of knowledge the issue.

You asked " are we close yet"? So yes you have a lack of knowledge on the issue

Eh? You just said we don't now how much money the shareholders have. We do know about Parry, though, and looking at his failures to stump up abroad, the answer appears to be not much.

You know how much money Parry has? Good for you, Is he our only shareholder & do you know how much money they have got,or when they can cover losses till like you asked?

[OyinbO]

Mr Parry playing a role not unlike that played by Mad Frank in summer 2017 - "pay me off or the Club gets it" - knowing that the bloke who wants to buy and save the Club is a genuine fan: https://www.nytimes.com/athletic/558919 ... ng-future/

(the money that Parry put in was mostly through high-interest loans, which he now wants to be repaid. And it is this debt which threatens the Club's existence)

[BiggsyMalone]

Mr Parry playing a role not unlike that played by Mad Frank in summer 2017 - "pay me off or the Club gets it" - knowing that the bloke who wants to buy and save the Club is a genuine fan: https://www.nytimes.com/athletic/558919 ... ng-future/

(the money that Parry put in was mostly through high-interest loans, which he now wants to be repaid. And it is this debt which threatens the Club's existence)

And a sizable number of Orient fans think he’s invested in Orient as a passion project.

[Hoover Attack]

Mr Parry playing a role not unlike that played by Mad Frank in summer 2017 - "pay me off or the Club gets it" - knowing that the bloke who wants to buy and save the Club is a genuine fan: https://www.nytimes.com/athletic/558919 ... ng-future/

(the money that Parry put in was mostly through high-interest loans, which he now wants to be repaid. And it is this debt which threatens the Club's existence)

It's ok, we've been told there's nothing for us to worry our little heads about. Move along.

[Currywurst and Chips]

Good lucky to Coley

Hopefully he gets a fair price for Vitesse then has more money to spend on us

[Lifelongfan]

Good luck Coley. You can then invest more in the O's

[OyinbO]

He is not selling the Club. He does not own it. He is trying to recoup some of the money he put in during his dismally failed takeover attempt that has brought the Club to the edge of extinction. It is not clear where the money he put in came from.

If none of this concerns you, or you think this is good news for Orient, then there’s a wealthy waste management entrepreneur living in Mayfair that you might want to apologise to.

[Hoover Attack]

Is he still living in that old pub up West?

[OyinbO]

Is he still living in that old pub up West?

No, I think he sold that. But he's still got a gaff in the area.

I see Vitesse are pretty pleased to have finally got rid of Parry

A five minutes to midnight deal was agreed last night between their new owner (a Vitesse fan who lives overseas - their equivalent of Nigel Travis) and Parry.

"

[PKM]

Very disappointing that one of our directors is associated with this
In fact, given our recent history it’s shameful and embarrassing
Hope it works out for Vitesse

https://www.thesun.co.uk/sport/28896977 ... uptcy/amp/

[Hoover Attack]

Good luck to them.

I 'm just thankful journalism is at such a low, no-one has made the link between this and our club.

[Proposition Joe]

Genuinely mad that the briefest of Google searches is beyond most 'journos' these days, especially since half their output is just lifted straight off the internet or social media.

[OyinbO]

Over the years (including recently) Orient has been able to get away with a lot more by being small enough to fly under the radar of most professional journalists. Most of the coverage is run by well-meaning amateurs who depend on access to the Club for their own profile, and so daren't offer any kind of challenge.