YesHoover Attack wrote: ↑Wed Apr 24, 2024 9:43 pmYou have been reading this thread, right?Rubex Kube wrote: ↑Wed Apr 24, 2024 9:36 pmWhat if they have? Unless you are bank manager of those Individuals how would you knowHoover Attack wrote: ↑Wed Apr 24, 2024 5:55 pm
But what if they haven’t got the funds, as seems to be the case???
Coley Parry, LO director, & Vitesse
Moderator: Long slender neck
-
- Fresh Alias
- Posts: 174
- Joined: Thu Mar 14, 2024 3:49 pm
- Has thanked: 94 times
- Been thanked: 39 times
Re: Coley Parry, LO director, & Vitesse
-
- Tiresome troll
- Posts: 1847
- Joined: Thu Apr 11, 2019 10:30 pm
- Has thanked: 1608 times
- Been thanked: 359 times
Re: Coley Parry, LO director, & Vitesse
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.
-
- Bored office worker
- Posts: 2922
- Joined: Thu Apr 11, 2019 9:03 pm
- Has thanked: 1466 times
- Been thanked: 840 times
Re: Coley Parry, LO director, & Vitesse
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.BiggsyMalone wrote: ↑Wed Apr 24, 2024 6:53 pmWhich 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?Lifelongfan wrote: ↑Wed Apr 24, 2024 2:02 pmWell 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 guaranteeBiggsyMalone wrote: ↑Wed Apr 24, 2024 1:41 pm
No risk at all until he uses his Orient shares as collateral to buy other clubs.
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.
As for Nigel needing to make a statement......those that wanted one probably would be sceptical about what he said anyway.
-
- Regular
- Posts: 4092
- Joined: Wed May 01, 2019 4:12 pm
- Has thanked: 787 times
- Been thanked: 874 times
Re: Coley Parry, LO director, & Vitesse
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.LittleMate wrote: ↑Wed Apr 24, 2024 10:20 pmI'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.BiggsyMalone wrote: ↑Wed Apr 24, 2024 6:53 pmWhich 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?Lifelongfan wrote: ↑Wed Apr 24, 2024 2:02 pm
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
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.
As for Nigel needing to make a statement......those that wanted one probably would be sceptical about what he said anyway.
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.
-
- Regular
- Posts: 3732
- Joined: Thu Apr 11, 2019 8:48 pm
- Has thanked: 1539 times
- Been thanked: 1359 times
Re: Coley Parry, LO director, & Vitesse
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).
-
- Fresh Alias
- Posts: 615
- Joined: Sun Feb 28, 2021 2:23 pm
- Has thanked: 6 times
- Been thanked: 158 times
Re: Coley Parry, LO director, & Vitesse
Complete overreacrtion, Orient shares paid for. Not the major shareholder.
-
- Regular
- Posts: 4092
- Joined: Wed May 01, 2019 4:12 pm
- Has thanked: 787 times
- Been thanked: 874 times
Re: Coley Parry, LO director, & Vitesse
What part of using shares to secure a loan not being off the cards are you not understanding?Lifelongfan wrote: ↑Thu Apr 25, 2024 12:31 am Complete overreacrtion, Orient shares paid for. Not the major shareholder.
-
- Regular
- Posts: 4092
- Joined: Wed May 01, 2019 4:12 pm
- Has thanked: 787 times
- Been thanked: 874 times
Re: Coley Parry, LO director, & Vitesse
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.Proposition Joe wrote: ↑Thu Apr 25, 2024 12:05 am 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).
Portsmouth is a good example but you could look at Bournemouth on the other hand who have pumped money in and done things properly.
-
- Bored office worker
- Posts: 2617
- Joined: Thu Nov 16, 2023 10:41 am
- Has thanked: 310 times
- Been thanked: 703 times
Re: Coley Parry, LO director, & Vitesse
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.LittleMate wrote: ↑Wed Apr 24, 2024 10:20 pm I'm equally amazed by fans (me included) who just expect owners to catch the bill then moan when they go bust doing it.
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
- MB Legend
- Posts: 11339
- Joined: Thu Apr 11, 2019 2:12 pm
- Has thanked: 858 times
- Been thanked: 2573 times
Re: Coley Parry, LO director, & Vitesse
Hmm. Isn't this lack of knowledge the issue.Rubex Kube wrote: ↑Wed Apr 24, 2024 9:30 pmI'm not a shareholder, I don't know what money they haveMax B Gold wrote: ↑Wed Apr 24, 2024 4:28 pmAt what point can the losses no longer be funded? Are we close yet?
-
- Fresh Alias
- Posts: 174
- Joined: Thu Mar 14, 2024 3:49 pm
- Has thanked: 94 times
- Been thanked: 39 times
Re: Coley Parry, LO director, & Vitesse
You asked " are we close yet"? So yes you have a lack of knowledge on the issueMax B Gold wrote: ↑Thu Apr 25, 2024 12:49 pmHmm. Isn't this lack of knowledge the issue.Rubex Kube wrote: ↑Wed Apr 24, 2024 9:30 pmI'm not a shareholder, I don't know what money they haveMax B Gold wrote: ↑Wed Apr 24, 2024 4:28 pm
At what point can the losses no longer be funded? Are we close yet?
- Max B Gold
- MB Legend
- Posts: 11339
- Joined: Thu Apr 11, 2019 2:12 pm
- Has thanked: 858 times
- Been thanked: 2573 times
Re: Coley Parry, LO director, & Vitesse
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 wrote: ↑Thu Apr 25, 2024 12:52 pmYou asked " are we close yet"? So yes you have a lack of knowledge on the issueMax B Gold wrote: ↑Thu Apr 25, 2024 12:49 pmHmm. Isn't this lack of knowledge the issue.Rubex Kube wrote: ↑Wed Apr 24, 2024 9:30 pm
I'm not a shareholder, I don't know what money they have
-
- Fresh Alias
- Posts: 174
- Joined: Thu Mar 14, 2024 3:49 pm
- Has thanked: 94 times
- Been thanked: 39 times
Re: Coley Parry, LO director, & Vitesse
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?Max B Gold wrote: ↑Thu Apr 25, 2024 12:56 pmEh? 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 wrote: ↑Thu Apr 25, 2024 12:52 pmYou asked " are we close yet"? So yes you have a lack of knowledge on the issue