| Rochdale AFC becomes mortgage free!!! on 14:24 - Jun 7 with 9257 views | MoonyDale |
How dya like them apples Bottomley you T**T... |  |
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| Rochdale AFC becomes mortgage free!!! on 14:25 - Jun 7 with 9253 views | DaleFan7 |
I thought we were going under with loads of debt and no income  |  | | |
| Rochdale AFC becomes mortgage free!!! on 14:25 - Jun 7 with 9254 views | boromat |
Great news  | |
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| Rochdale AFC becomes mortgage free!!! on 14:28 - Jun 7 with 9236 views | DaleiLama |
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| Rochdale AFC becomes mortgage free!!! on 14:31 - Jun 7 with 9222 views | HullDale |
Unbelievable news. A huge thank you to the new board who have made this possible in less than 12 months.
75% is a huge number for anybody to reach to ever take ANY money out against the stadium as security.
The best news to come out of the club since the 28th June.
UTDNFS! |  | | |
| Rochdale AFC becomes mortgage free!!! on 14:33 - Jun 7 with 9219 views | RAFCBLUE |
| Rochdale AFC becomes mortgage free!!! on 14:25 - Jun 7 by DaleFan7 |
I thought we were going under with loads of debt and no income |
I think we learned very early on not to believe anything you read from Captain Sabotage.
https://www.manchestereveningnews.co.uk/news/greater-manchester-news/businessman
This was the MEN's article on 12 August 21, just before the EFL opened an investigation into what went on:
"Responding, Mr Curran's statement said the MP had either been 'misinformed' or 'not made aware' of the current financial position of Rochdale AFC.
He went on: "The club is certainly not a 'cash cow, far from it. It's got no money and without significant investment, the club will run out of money before the end of the year.
"The board has already confirmed it has no intention or means of putting in the funds required to sustain the club for the foreseeable future. (These include) a substantial outstanding loan (which) is secured against the stadium; HMRC payments are in arrears, and players have been sold below market value."
Let's review the truth vs things we know happened:
Humphrys sold to Wigan - now in the Championship
Rathbone sold to Rotherham - now in the Championship
Beesley sold to Blackpool - now in the Championship
Morley sold to Bolton - might play in the Championship
Mortgage repaid
It's almost like during 2021 a pack of lies were created to make us grateful for an unwanted hostile takeover attempt and a lesser club might have believed it. |  |
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| Rochdale AFC becomes mortgage free!!! on 14:52 - Jun 7 with 9133 views | Danny1907 |
Thank you to the current board for your work - what amazing news.
Seems like we're not going under with lots of debt nor are we a non-league team.
Bottomley, you're a c**t and I hope you're crying again with your cronies.
Up The Dale Not For Sale! | | | |
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| Rochdale AFC becomes mortgage free!!! on 14:56 - Jun 7 with 9104 views | electricblue |
That is great news to read.
Well done to the board for what they have achieved in 12months....
The future looks even brighter for the Dale.... |  |
| My all time favourite Dale player Mr Lyndon Symmonds |
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| Rochdale AFC becomes mortgage free!!! on 15:00 - Jun 7 with 9084 views | RAFCBLUE |
| Rochdale AFC becomes mortgage free!!! on 14:56 - Jun 7 by electricblue |
That is great news to read.
Well done to the board for what they have achieved in 12months....
The future looks even brighter for the Dale.... |
Hopefully the news we are mortgage free might encourage a few more to renew their season tickets, especially in a year where there is no Premier League for 2 months.
"The annual cost savings achieved by being mortgage free are being redeployed into our first-team playing squad.”
Where does the money go? Directly into the club and the team.
No overpaid CEO's here! | |
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| Rochdale AFC becomes mortgage free!!! on 15:06 - Jun 7 with 9072 views | judd |
Amazing foresight by Graham Morris.
Whoever brokered the sale of almost 50% of issued shares last July must have known of the existence of the Morris amendment to articles? |  |
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| Rochdale AFC becomes mortgage free!!! on 15:15 - Jun 7 with 9035 views | judd |
| Rochdale AFC becomes mortgage free!!! on 14:33 - Jun 7 by RAFCBLUE |
I think we learned very early on not to believe anything you read from Captain Sabotage.
https://www.manchestereveningnews.co.uk/news/greater-manchester-news/businessman
This was the MEN's article on 12 August 21, just before the EFL opened an investigation into what went on:
"Responding, Mr Curran's statement said the MP had either been 'misinformed' or 'not made aware' of the current financial position of Rochdale AFC.
He went on: "The club is certainly not a 'cash cow, far from it. It's got no money and without significant investment, the club will run out of money before the end of the year.
"The board has already confirmed it has no intention or means of putting in the funds required to sustain the club for the foreseeable future. (These include) a substantial outstanding loan (which) is secured against the stadium; HMRC payments are in arrears, and players have been sold below market value."
Let's review the truth vs things we know happened:
Humphrys sold to Wigan - now in the Championship
Rathbone sold to Rotherham - now in the Championship
Beesley sold to Blackpool - now in the Championship
Morley sold to Bolton - might play in the Championship
Mortgage repaid
It's almost like during 2021 a pack of lies were created to make us grateful for an unwanted hostile takeover attempt and a lesser club might have believed it. |
You can add the share issue from last autumn | |
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| Rochdale AFC becomes mortgage free!!! on 15:39 - Jun 7 with 8937 views | kel |
Truly superb news and a huge well done to the current board and the overcoat men. We ALL owe you a huge deal of gratitude and should all place our trust in you to do what is right for this tremendous football club. |  | | |
| Rochdale AFC becomes mortgage free!!! on 16:09 - Jun 7 with 8800 views | 49thseason |
| Rochdale AFC becomes mortgage free!!! on 15:39 - Jun 7 by kel |
Truly superb news and a huge well done to the current board and the overcoat men. We ALL owe you a huge deal of gratitude and should all place our trust in you to do what is right for this tremendous football club. |
Hi Kel, I just realised that your avatar is Lawry's seasoned salt, as used at Lawry's Restaurants in Los Angeles, they specialise in Beef Rib and delicious it is too. I was lucky enough to go there in about 1996 having been recommended by the doorman at my hotel which was just across the road from the House of Blues where I saw The Band and a jam session with a couple of remaining members of the Allman Brothers band. And all on expenses! Happy days! Thanks for the memories
https://www.lawrysonline.com/lawrys-the-prime-rib-beverly-hills/
[Post edited 7 Jun 2022 16:13]
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| Rochdale AFC becomes mortgage free!!! on 16:25 - Jun 7 with 8742 views | dawlishdale |
| Rochdale AFC becomes mortgage free!!! on 15:06 - Jun 7 by judd |
Amazing foresight by Graham Morris.
Whoever brokered the sale of almost 50% of issued shares last July must have known of the existence of the Morris amendment to articles? |
So basically, anyone who tried to buy 51% of the shares last year would still not be able to use the ground as an asset to borrow money against?
How utterly ridiculous must Roger feel now. Bet he didn't have the first clue about this.
And how worried he must be now...knowing that he sold MH a pup that they couldn't use !!
Oh Roger... you've done it again haven't you !! Another in a (very) long list of business blunders. Time to hang your hopeless career up and cry into the sunset. | | | |
| Rochdale AFC becomes mortgage free!!! on 16:33 - Jun 7 with 8716 views | SuddenLad |
| Rochdale AFC becomes mortgage free!!! on 16:25 - Jun 7 by dawlishdale |
So basically, anyone who tried to buy 51% of the shares last year would still not be able to use the ground as an asset to borrow money against?
How utterly ridiculous must Roger feel now. Bet he didn't have the first clue about this.
And how worried he must be now...knowing that he sold MH a pup that they couldn't use !!
Oh Roger... you've done it again haven't you !! Another in a (very) long list of business blunders. Time to hang your hopeless career up and cry into the sunset. |
The foresight of Graham Morris all those years ago, was the trump card. It's laughable that a CEO didn't know the facts in relation to his employers' company.
The little nugget was sat there for anyone to see, if only they did their job properly and looked at the minutae. The devil is always in the detail.
The whole set of incompetent buffoons have become a laughing stock.
CoCo the clown would have made a better job of it.
Three cheers for Graham Morris. He's the real saviour in all this. |  |
| “It is easier to fool people, than to convince them that they have been fooled†|
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| Rochdale AFC becomes mortgage free!!! on 16:34 - Jun 7 with 8705 views | kel |
| Rochdale AFC becomes mortgage free!!! on 16:09 - Jun 7 by 49thseason |
Hi Kel, I just realised that your avatar is Lawry's seasoned salt, as used at Lawry's Restaurants in Los Angeles, they specialise in Beef Rib and delicious it is too. I was lucky enough to go there in about 1996 having been recommended by the doorman at my hotel which was just across the road from the House of Blues where I saw The Band and a jam session with a couple of remaining members of the Allman Brothers band. And all on expenses! Happy days! Thanks for the memories
https://www.lawrysonline.com/lawrys-the-prime-rib-beverly-hills/
[Post edited 7 Jun 2022 16:13]
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Ha, no worries. It’s actually a response to the poison Hornets dwarf calling me a “seasoned keyboard warrior” and that’s the best I could find at the time. If you like your seasoned gear then I highly recommend Carolina reaper salt by world famous hot sauce. It blows my head off unless I have it in very small quantities but it’s bloody lovely along with his sauces.
https://worldfamoushotsauce.co.uk/ | | | |
| Rochdale AFC becomes mortgage free!!! on 16:39 - Jun 7 with 8690 views | judd |
| Rochdale AFC becomes mortgage free!!! on 16:25 - Jun 7 by dawlishdale |
So basically, anyone who tried to buy 51% of the shares last year would still not be able to use the ground as an asset to borrow money against?
How utterly ridiculous must Roger feel now. Bet he didn't have the first clue about this.
And how worried he must be now...knowing that he sold MH a pup that they couldn't use !!
Oh Roger... you've done it again haven't you !! Another in a (very) long list of business blunders. Time to hang your hopeless career up and cry into the sunset. |
Not since 1987 could the ground be used to raise money against without at least 75% shareholder approval.
That amendment to the articles has been in place for THIRTY FIVE years.
I wonder what else in the articles has been overlooked? | |
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| Rochdale AFC becomes mortgage free!!! on 17:01 - Jun 7 with 8608 views | DaleiLama |
| Rochdale AFC becomes mortgage free!!! on 16:39 - Jun 7 by judd |
Not since 1987 could the ground be used to raise money against without at least 75% shareholder approval.
That amendment to the articles has been in place for THIRTY FIVE years.
I wonder what else in the articles has been overlooked? |
Blimey - that's a long time. Longer even than the dodger has been claiming to be a die hard fan? And when he had the keys to the kingdom, he was still too inept to manage to feather his own nest. If I was him I'd be taking the long way home from now on. Taking short cuts down dark alleys might be very detrimental to his health bearing in mind who's money was ploughed into an "investment" that was never going to pay a single divi. In the home town of the co-op too! The delicious irony. | |
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| Rochdale AFC becomes mortgage free!!! on 17:08 - Jun 7 with 8578 views | TalkingSutty |
| Rochdale AFC becomes mortgage free!!! on 16:25 - Jun 7 by dawlishdale |
So basically, anyone who tried to buy 51% of the shares last year would still not be able to use the ground as an asset to borrow money against?
How utterly ridiculous must Roger feel now. Bet he didn't have the first clue about this.
And how worried he must be now...knowing that he sold MH a pup that they couldn't use !!
Oh Roger... you've done it again haven't you !! Another in a (very) long list of business blunders. Time to hang your hopeless career up and cry into the sunset. |
It’s not just Bottomley though, it’s also Rawlinson and Kilpatrick. As a collective they have served as long standing Director, Chairman and CEO, it seems inconceivable that not one of them was aware of the 75% threshold. Bottomley was very quick to lecture the Trust when it came to the ins and outs of the EGM and the processes that they needed to adhere to so he must have been aware of the articles of association and any amendments and so must the former Chairman. As was suggested last year, it seems that there is only one person who stands to lose a large sum of money in all of this and it’s not going to be those who did the selling. It’s time for them to do the right thing,unravel the sale of their shares and return the money to Mr Curran, if they had a conscience that’s the course of action they would now take. [Post edited 7 Jun 2022 17:18]
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| Rochdale AFC becomes mortgage free!!! on 17:09 - Jun 7 with 8567 views | wozzrafc |
We need to make sure we explain this article fully during the up coming mitigation. We wouldn’t want anyone thinking otherwise!!! | | | |
| Rochdale AFC becomes mortgage free!!! on 17:28 - Jun 7 with 8489 views | Yorkshire_Dale |
| Rochdale AFC becomes mortgage free!!! on 15:15 - Jun 7 by judd |
You can add the share issue from last autumn |
Talking of which, when might us guys that missed the sale be able to buy into Club shares?
There must be a tidal wave of optimism around right now and fans willing to invest. | | | |
| Rochdale AFC becomes mortgage free!!! on 17:31 - Jun 7 with 8482 views | boromat |
| Rochdale AFC becomes mortgage free!!! on 16:39 - Jun 7 by judd |
Not since 1987 could the ground be used to raise money against without at least 75% shareholder approval.
That amendment to the articles has been in place for THIRTY FIVE years.
I wonder what else in the articles has been overlooked? |
The timing of this news and the inclusion of a reminder about the clause is brilliant.
How much are those Morton Shares worth?  | |
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| Rochdale AFC becomes mortgage free!!! on 17:38 - Jun 7 with 8462 views | judd |
| Rochdale AFC becomes mortgage free!!! on 17:31 - Jun 7 by boromat |
The timing of this news and the inclusion of a reminder about the clause is brilliant.
How much are those Morton Shares worth? |
They are worth what somebody is prepared to pay for them.
I saw some maths recently somewhere that an erudite poster reasonably argued that based on capitalisation, with Manu shares being sold at $13, then a Rochdale share is worth 12 pence. | |
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| Rochdale AFC becomes mortgage free!!! on 19:09 - Jun 7 with 8210 views | RAFCBLUE |
| Rochdale AFC becomes mortgage free!!! on 17:38 - Jun 7 by judd |
They are worth what somebody is prepared to pay for them.
I saw some maths recently somewhere that an erudite poster reasonably argued that based on capitalisation, with Manu shares being sold at $13, then a Rochdale share is worth 12 pence. |
There's a much easier way to do that calculation judd.
The last filed accounts are at 31 May 2021 - the day before the 1 June 2021 EGM which removed Bottomley and BEFORE the new Chairman and directors and the unwanted hostile takeover.
Audited net assets were £1,501,843.
Of those audited net assets, the ground made up £1,561,205. There's a really helpful note the accounts that shows you that number and its there in the public domain.
Now, that ground - as we have found out today - can't be sold, transferred, mortgaged, charged, flogged, asset stripped, divested or given away without 75% of shareholders agreeing. That makes that asset of £1.5m worthless as you can't actually get £1.5m for it.
On 31 May 2021, the day before the EGM, there were 502,957 shares in existence.
The value of the club without the ground was A MINUS DEFICIT of £59,362 (£1,501,843 less £1,561,205) or a DEFICIT of 11p per share.
So 1 x Dale shares on 31st May 2021, with an asset that can't be sold, was worth MINUS 11p per share.
Bottomley tried to sell them, on 1 June 2021 for £6 a share with a long presentation that involved Reading FC, Doncaster Rovers FC and Fleetwood Town.
Captain Sabotage then apparently convinced someone to pay over £1m (as stated in the Manchester Evening News) without any reference to these facts.
I guess you had to know that was filed at Companies House - which either Bottomely did and didn't let on OR he didn't know and allowed someone to blindly pile in, not realising what a fools errand they were on.
God bless Graham Morris and the wider board at the time under the late David Kilpatrick.
By my reckoning that's the 5th or 6th time they've saved the club in their lifetime and they're all pensioners! [Post edited 7 Jun 2022 19:12]
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