| Dale Trust Meeting With WSH LLC on 12:22 - Mar 14 with 2915 views | TalkingSutty |
| Dale Trust Meeting With WSH LLC on 12:04 - Mar 14 by 49thseason |
It sounds like WSH is a management company and that each club they are invested in is placed in a separate company with possibly different investors. This would be sensible if there were a) an intention at some point to sell the club or b) to insulate other clubs under management from the repercussions of a club ultimately going out of business despite the new investment.
To be pragmatic, the club has to be sold, there is no real alternative that we are aware of. Repeated claims about the Board and particularly the Chairman make zero difference to the situation and are probably a distraction. There is no point in the blame game, it will change nothing now or in the future. Whoever buys the club will call the shots and will decide what is important and what isnt. Whatever people want to say will make zero difference to the outcome.
For me, the encouraging bit is that WHS come with enthusiasm and can-do attitude, they clearly have financial connections and the pool of sports investors is far bigger in the US than anywhere else in the world. By spreading the financial burden, they also mitigate the dangers of a single investor. They also admit that they are in for a minimum of 5 years to turn around the club's fortunes and start making money on their investment.
At this moment, (to pinch a Jimism), we are out of options and up against a very tight deadline with one foot in the crematorium. Close the deal, worry about the long term next season or the season after, everything else is irrelevant... |
Why close the deal with WSH if there are other investors who have come forward also? |  | |  |
| Dale Trust Meeting With WSH LLC on 12:22 - Mar 14 with 2913 views | Rehsad |
Reading the Trust Statement and seeing how WHS are operating at Maastricht then one potential way forwards is for them to take a medium sized stake (24%?) today. This would get the funds in place to keep the club functioning whilst they then put together the remaining part of the deal. I suspect that this might be how they entered Maastricht in the first place. The statement raises many questions - and most may well have answers, but we have been told very clearly that time is not on our side. Taking a smaller stake now would be a massive gesture and commitment - which I think is what we need at this point in time. |  | | |
| Dale Trust Meeting With WSH LLC on 12:35 - Mar 14 with 2803 views | Dale2017 |
I keep seeing posts regarding comments SG made at the EGM. Could someone confirm what was said for those were not in attendance to help provide some context? | | | |
| Dale Trust Meeting With WSH LLC on 12:36 - Mar 14 with 2792 views | sxdale |
Why should they take a smaller stake? Out of the goodness of their Christian hearts? All potential investors know our financial situation and basically have us by the balls. | | | |
| Dale Trust Meeting With WSH LLC on 12:38 - Mar 14 with 2784 views | 49thseason |
| Dale Trust Meeting With WSH LLC on 12:22 - Mar 14 by TalkingSutty |
Why close the deal with WSH if there are other investors who have come forward also? |
Because they are already in the business and have an idea what needs to be done, and we only have 2 weeks to live.
Stop dreaming that a perfect solution will appear, it wont, its too late. If the Board has decided these are the people they can work with, then let them get on with it, even then it will be touch and go... |  | | |
| Dale Trust Meeting With WSH LLC on 12:42 - Mar 14 with 2756 views | Brierls |
| Dale Trust Meeting With WSH LLC on 12:22 - Mar 14 by Rehsad |
Reading the Trust Statement and seeing how WHS are operating at Maastricht then one potential way forwards is for them to take a medium sized stake (24%?) today. This would get the funds in place to keep the club functioning whilst they then put together the remaining part of the deal. I suspect that this might be how they entered Maastricht in the first place. The statement raises many questions - and most may well have answers, but we have been told very clearly that time is not on our side. Taking a smaller stake now would be a massive gesture and commitment - which I think is what we need at this point in time. |
Better still, just chuck us £2 million to tide us over. No share transaction required. That would be a massive gesture and just what we need at this point in time. |  | | |
| Dale Trust Meeting With WSH LLC on 12:42 - Mar 14 with 2755 views | rochedale |
| Dale Trust Meeting With WSH LLC on 12:35 - Mar 14 by Dale2017 |
I keep seeing posts regarding comments SG made at the EGM. Could someone confirm what was said for those were not in attendance to help provide some context? |
He said…
“If you vote no, be prepared to have the courage of your convictions and stand up in front of the national press to explain why.”
He also said…
“If you vote no, there’ll be no game Saturday.” |  |
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| Dale Trust Meeting With WSH LLC on 12:44 - Mar 14 with 2737 views | BigKindo |
Would you sell your car to a stranger who says sign this bit of paper, hand over the keys and I'll call back tomorrow with the money? |  | | |
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| Dale Trust Meeting With WSH LLC on 13:09 - Mar 14 with 2570 views | Rehsad |
| Dale Trust Meeting With WSH LLC on 12:36 - Mar 14 by sxdale |
Why should they take a smaller stake? Out of the goodness of their Christian hearts? All potential investors know our financial situation and basically have us by the balls. |
Because that is exactly what they did at Maastricht - with man obvious long term plan of taking 90+%.If it works there then why shouldn't it work here.
To be clear -I'm talking about a smaller stake as part of a longer term plan. I'm very concerned that if no actor puts cash in very soon then there will be nothing to take a stake in.
Yes, it's a business risk - but it's a small stake at a rock bottom share price - a share price that is obviouslty attracting attention. | | | |
| Dale Trust Meeting With WSH LLC on 13:16 - Mar 14 with 2535 views | Dale85 |
So let me get this straight
Our chairman has introduced broker 1 ( aka Alan partridge )
Who has introduced broker 2 ( Scott dyer) who is looking at potential investors ready to do Due diligence
Albeit waiting for some paperwork from our chairman
This is obsurd!!!!
In the mean time we have blocked TFC LLC who have been to the games , worked with the trust and don’t involve any brokers .
The world has gone mad |  | | |
| Dale Trust Meeting With WSH LLC on 13:23 - Mar 14 with 2491 views | 442Dale |
| Dale Trust Meeting With WSH LLC on 12:38 - Mar 14 by 49thseason |
Because they are already in the business and have an idea what needs to be done, and we only have 2 weeks to live.
Stop dreaming that a perfect solution will appear, it wont, its too late. If the Board has decided these are the people they can work with, then let them get on with it, even then it will be touch and go... |
Where has it been confirmed beyond any doubt that “we only have 2 weeks to live”?
And if that is a fact, why are the National League allowing us to continue to play games when we may not finish the season?
It’s as it’s always been, doing the right thing for RAFC, everyone should focus on that.
Edit:
One final question for you 49thSeason, do you believe that the club should explore the second bid by TFC, especially in light of the detail they have already provided? [Post edited 14 Mar 13:24]
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| Dale Trust Meeting With WSH LLC on 13:25 - Mar 14 with 2470 views | KenBoon |
| Dale Trust Meeting With WSH LLC on 13:16 - Mar 14 by Dale85 |
So let me get this straight
Our chairman has introduced broker 1 ( aka Alan partridge )
Who has introduced broker 2 ( Scott dyer) who is looking at potential investors ready to do Due diligence
Albeit waiting for some paperwork from our chairman
This is obsurd!!!!
In the mean time we have blocked TFC LLC who have been to the games , worked with the trust and don’t involve any brokers .
The world has gone mad |
No that is wrong. It has been confirmed that Dyer wasn't introduced by the earlier broker.
Out of interest, why does TFC going to games make them a better option?
Yes the world has gone mad. |  | | |
| Dale Trust Meeting With WSH LLC on 13:31 - Mar 14 with 2419 views | RobPHolmes |
“management at Rochdale as a business is yet to be determined, but the need for continuity is paramount in terms of personnel. It is recognised that additional personnel are required in order to relieve current workloads and attempt to grow revenue.”
Aside of the fact that on the face of it there doesn’t appear to be a coherent business plan, my experience of working for blue chip companies, and running my own business would suggest to me that continuity is key when something works and is successful. In my opinion continuity is the last thing needed here !?! | | | |
| Dale Trust Meeting With WSH LLC on 13:41 - Mar 14 with 2358 views | TalkingSutty |
| Dale Trust Meeting With WSH LLC on 13:31 - Mar 14 by RobPHolmes |
“management at Rochdale as a business is yet to be determined, but the need for continuity is paramount in terms of personnel. It is recognised that additional personnel are required in order to relieve current workloads and attempt to grow revenue.”
Aside of the fact that on the face of it there doesn’t appear to be a coherent business plan, my experience of working for blue chip companies, and running my own business would suggest to me that continuity is key when something works and is successful. In my opinion continuity is the last thing needed here !?! |
Just needs 'Alan Partridge' to step into the boardroom to fill the bingo card. The club can't progress with Gauge as Chairman, he's took us to the brink of liquidation and threatened to call off last Saturdays game unless shareholders voted a certain way at the EGM. Blackmailing shareholders just prior to voting. | | | |
| Dale Trust Meeting With WSH LLC on 13:42 - Mar 14 with 2353 views | 49thseason |
| Dale Trust Meeting With WSH LLC on 13:23 - Mar 14 by 442Dale |
Where has it been confirmed beyond any doubt that “we only have 2 weeks to live”?
And if that is a fact, why are the National League allowing us to continue to play games when we may not finish the season?
It’s as it’s always been, doing the right thing for RAFC, everyone should focus on that.
Edit:
One final question for you 49thSeason, do you believe that the club should explore the second bid by TFC, especially in light of the detail they have already provided? [Post edited 14 Mar 13:24]
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The Board told us there is no more cash coming into the club unless its sold. And that the BoD will have to put it into liquidation at the end of the month as otherwise they will be trading illegally. Its not legal to allow a conpany to continue trading when the directors know they cannot pay the bills.
The only reason we are not yet in liquidation now is because because people we owe money to agreed not to foreclose on us pending a take over as made possible at the EGM by the issuance,of shares.
They have had over 100 enquiries, we know nothing about the other 98 so that the board, up against a hard deadline, has to choose between A or B. If they have good reasons to choose A, so be it, its not a beauty contest, irs about who can come up with the money the fastest and see the club through in the longer term. There simply isnt the time to do mountains of due diligence with other bidders , WSH got there first they have some experience and presumeably have proof of funds and can put cash as soon as they get sign off... do the deal! There simply isnt time to spend trying to choose one from another..its shit or bust time, crap or get off the pan. [Post edited 14 Mar 13:49]
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| Dale Trust Meeting With WSH LLC on 13:44 - Mar 14 with 2333 views | 442Dale |
| Dale Trust Meeting With WSH LLC on 13:42 - Mar 14 by 49thseason |
The Board told us there is no more cash coming into the club unless its sold. And that the BoD will have to put it into liquidation at the end of the month as otherwise they will be trading illegally. Its not legal to allow a conpany to continue trading when the directors know they cannot pay the bills.
The only reason we are not yet in liquidation now is because because people we owe money to agreed not to foreclose on us pending a take over as made possible at the EGM by the issuance,of shares.
They have had over 100 enquiries, we know nothing about the other 98 so that the board, up against a hard deadline, has to choose between A or B. If they have good reasons to choose A, so be it, its not a beauty contest, irs about who can come up with the money the fastest and see the club through in the longer term. There simply isnt the time to do mountains of due diligence with other bidders , WSH got there first they have some experience and presumeably have proof of funds and can put cash as soon as they get sign off... do the deal! There simply isnt time to spend trying to choose one from another..its shit or bust time, crap or get off the pan. [Post edited 14 Mar 13:49]
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And the question about the National League remains…
“so be it”
Another example of why we are, where we are. | |
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| Dale Trust Meeting With WSH LLC on 13:52 - Mar 14 with 2294 views | Rodingdale |
| Dale Trust Meeting With WSH LLC on 12:42 - Mar 14 by rochedale |
He said…
“If you vote no, be prepared to have the courage of your convictions and stand up in front of the national press to explain why.”
He also said…
“If you vote no, there’ll be no game Saturday.” |
On reflection- the second threat was a risky one given the way we’ve been playing. | | | |
| Dale Trust Meeting With WSH LLC on 14:15 - Mar 14 with 2176 views | BigKindo |
| Dale Trust Meeting With WSH LLC on 12:42 - Mar 14 by rochedale |
He said…
“If you vote no, be prepared to have the courage of your convictions and stand up in front of the national press to explain why.”
He also said…
“If you vote no, there’ll be no game Saturday.” |
I would appreciate it if whomsoever reads this message board from the Club passes on my feelings to Simon Gauge. Thank you.
Staggering comments. Stupid, ludicrous comments! This is not the way for a minority shareholder and creditor of a Limited Company to behave. Simon Gauge it is not your place to make such comments without repercussions. If these statements are correct by so-doing you have alienated several hundred Dale supporters and shareholders and probably lost their total support and faith in the future. Did you make those statements? If you carry on in that vein it will no doubt reflect in season ticket sales neat season if we are still in business, a business which your actions could perhaps destroy.
Whatever your intentions, if such statements were uttered, Simon Gauge you should publicly apologise to the individuals you directly addressed and to all of us who support our Club, not your Club, and which now appears to be your personal fiefdom. Mr. Gauge I'm holding my breath albeit in pious hope. I have supported the Dale since 1949, through thick and thin, and have witnessed and personally known many who helped the Club through thick and thin without benefit to themselves or families. Your loan to the Club in a time of need was appreciated but it shouldn't grant you the opportunity to make the alleged statements, as reported in this thread, and to which I am adding comment. Your actions have now alienated not only me but apparently many others and I think that your next best first course of action is to publicly apologise.
I am now beginning to fear for your competence as a Company Director. Please could you confirm that all the decisions you are announcing are done with the majority support of your fellow Directors and that such actions are correctly minuted by the Company Secretary. It does appear that you are solely at the tiller steering the ship towards the rocks without accepting the input from the lifeboat crew. Please could you confirm if this correct. I am sure that you are aware of the consequences of non-compliance with Company Law. Should this not be the case then it could also reflect upon the expected competence of the other Board Members and jeopardise their positions.
Was it with full backing of the Directors that you announced the sale of our Club, and that if new monies were not forthcoming you would liquidate the Club. Surely as a Director you knew the financial constraints some months ago, not 4 weeks ago. That to me suggests you wanted to make it a fait accompli by putting the shareholders and supporters into panic mode. Surely you are aware as a Director of the Club (a Limited Company) that if the Club has been trading insolvently for some that you committed an offence under current Company Law. The decision to liquidate is not solely your decision. To liquidate the Company could have left you under investigation.
I infrequently post on the message board but your actions are causing distrust among the supporters and no doubt shareholders who it seems under your master plan are about to lose their voting rites.
I as a (retired) long standing successful Company Director can now see that you have backed yourself into a corner and rather than accept you may be getting it wrong, even perhaps not accepting best advice from others. I think that the only solution to the problems of your own making are to immediately resign or at least allow the Board to have a vote of no confidence. Your legal responsibility is to all shareholders not just yourself.
Not even you are bigger than Rochdale AFC. | | | |
| Dale Trust Meeting With WSH LLC on 14:23 - Mar 14 with 2134 views | 49thseason |
| Dale Trust Meeting With WSH LLC on 13:44 - Mar 14 by 442Dale |
And the question about the National League remains…
“so be it”
Another example of why we are, where we are. |
What question? If the club gets a cash influx there is no problem, if it goes into liquidation there is no problem to be solved. The NL may want proof that the club can continue for another season, putting in a couple of million quid should fix that question, they will have bigger problems to deal with than Rochdale if the cash is in the bank.
We are where we are for a simple reason, we are spending more than,our income month in month out and have been doing for years. It was inevitable that the money would run out. It has . There is no one prepared to lend us any, there is no plan to make more money that doesnt involve spending... we appointed the Directors to do what has to be done, if they now believe WSH are in the best place to help the company then " so be it". .. do the deal and move on....what will be will be, its a toss of a coin now, unless of course you have a quick £100k+ to drop in the bank to get us through to next month,.. I know I don't. | | | |
| Dale Trust Meeting With WSH LLC on 14:32 - Mar 14 with 2078 views | D_Alien |
| Dale Trust Meeting With WSH LLC on 14:23 - Mar 14 by 49thseason |
What question? If the club gets a cash influx there is no problem, if it goes into liquidation there is no problem to be solved. The NL may want proof that the club can continue for another season, putting in a couple of million quid should fix that question, they will have bigger problems to deal with than Rochdale if the cash is in the bank.
We are where we are for a simple reason, we are spending more than,our income month in month out and have been doing for years. It was inevitable that the money would run out. It has . There is no one prepared to lend us any, there is no plan to make more money that doesnt involve spending... we appointed the Directors to do what has to be done, if they now believe WSH are in the best place to help the company then " so be it". .. do the deal and move on....what will be will be, its a toss of a coin now, unless of course you have a quick £100k+ to drop in the bank to get us through to next month,.. I know I don't. |
I've said it before, but i'm amazed that you don't, given your 'obvious' insights into how businesses should be run |  |
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| Dale Trust Meeting With WSH LLC on 14:37 - Mar 14 with 2043 views | borodale |
Lots of waffle and no substance. Very cloak and dagger. Only conclusion is they would be looking to leverage the purchase price and spending on the ground. Without transparency it really looks like Bottomley2 and Morton house with a mask on. | | | |
| Dale Trust Meeting With WSH LLC on 14:39 - Mar 14 with 2015 views | ramsdale |
"If a sale were to go through, then the ownership company would be revealed. It will not be WSH LLC."
Cloak and dagger once again with a decision favoured by SG.
This may be normal procedure for takeovers, I'm not sure, but with the amount of shady dealings we've seen over the past 5 years it's not out of order to suggest that we need to know who is coming into our club.
Everything seems genuine and the proposal all pretty much makes sense, but I'm sick to death of having to second-guess every statement or comment due to a sheer lack of transparency. Maybe that's just football now. | | | |
| Dale Trust Meeting With WSH LLC on 14:45 - Mar 14 with 1980 views | BigKindo |
| Dale Trust Meeting With WSH LLC on 14:39 - Mar 14 by ramsdale |
"If a sale were to go through, then the ownership company would be revealed. It will not be WSH LLC."
Cloak and dagger once again with a decision favoured by SG.
This may be normal procedure for takeovers, I'm not sure, but with the amount of shady dealings we've seen over the past 5 years it's not out of order to suggest that we need to know who is coming into our club.
Everything seems genuine and the proposal all pretty much makes sense, but I'm sick to death of having to second-guess every statement or comment due to a sheer lack of transparency. Maybe that's just football now. |
It would appear that it is just not the state of Denmark where something may be rotten. | | | |
| Dale Trust Meeting With WSH LLC on 15:33 - Mar 14 with 1831 views | dingdangblue |
| Dale Trust Meeting With WSH LLC on 12:13 - Mar 14 by rochedale |
At least they’re Christians 🙄 |
Is Terry part of the consortium? |  |
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| Dale Trust Meeting With WSH LLC on 16:21 - Mar 14 with 1685 views | SuddenLad |
| Dale Trust Meeting With WSH LLC on 15:33 - Mar 14 by dingdangblue |
Is Terry part of the consortium? |
Terry Waite (and see) ? |  |
| “It is easier to fool people, than to convince them that they have been fooled†|
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