| Today's bury thread on 12:34 - Jun 24 with 3015 views | R11BFC |
| Today's bury thread on 11:07 - Jun 24 by TTNYear |
Another point R11.
How does, say a minion like myself apply for a loan with this cash4assets outfit?
Shall I try their website? Nope not there.
Shall I ring up? No number.
The power of thought and if I wish hard enough they might ring me up.
It's just more subterfuge and oddness. And yes I don't know what's going on behind the scenes, and neither do you. But all this balls about no AGM and no forums is alarming and gives time for tongues to wag. If I was Day and my intentions were honourable, then the fans would be the first I'd keep on side. The same fans he wants through the doors in greater numbers. What's he do? Say 'f' all and close your message board. Ok a little sweeping but you know what I'm saying.
Its all pointing to ending in tears in my honest opinion. I won't lose much sleep (not in a vicious way), but you could lose your club. The ones saying 'Well what could we do?' could be ruing those words in five years time. [Post edited 24 Jun 2014 11:08]
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Agreed...that's why i and others are worried.
You've misunderstood my 'what's going on being the scenes' comment though. I'm not talking about what Bury FC's Board are doing behind the scenes, i'm talking about what concerned fans are doing behind the scenes. |  |
| For God loved the world so much, that He gave His only Son, so that everyone who believes in Him, may not die, but have eternal life. John 3:16 |
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| Today's bury thread on 12:35 - Jun 24 with 3012 views | R11BFC |
| Today's bury thread on 11:18 - Jun 24 by Scunnydale |
It's a tricky situation. People will always enjoy seeing their rival clubs suffer, it's part of football. However, most people won't enjoy seeing their rivals go out of business, certainly not clubs like ourselves.
I'd suggest that, over the past few years, Bury and Rochdale have - through gate receipts and TV money - given each other a decent amount of cash. That's something neither of us can sniff at. I know that, barring cup matches and the friendly, we won't meet this coming season, but I still wouldn't like Bury to go under as I'm sure it won't be too long until we're playing each other again.
I'm no financial genius, but some of the stuff coming out worries even me. As TTN says, the silence regarding the AGM and forums is frightening. If they have nothing to hide, why are they hiding?
As rivals, we'll always want each other to struggle and may take some pleasure in the times when things aren't going too well for the other team, but I for one sure as hell still want you around to mock! |
Great post. | |
| For God loved the world so much, that He gave His only Son, so that everyone who believes in Him, may not die, but have eternal life. John 3:16 |
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| Today's bury thread on 12:44 - Jun 24 with 2986 views | TTNYear |
| Today's bury thread on 12:34 - Jun 24 by R11BFC |
Agreed...that's why i and others are worried.
You've misunderstood my 'what's going on being the scenes' comment though. I'm not talking about what Bury FC's Board are doing behind the scenes, i'm talking about what concerned fans are doing behind the scenes. |
Ah... Well in needs looking into. |  |
| Anti-cliquism is the last refuge of the messageboard scoundrel - Copyright Dorset Dale productions |
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| Today's bury thread on 13:02 - Jun 24 with 2938 views | 100notout |
So they're strapped for cash and they want / need a new pitch. It costs around £150k so they plump for a loan of £200k.
Nobody will give them a loan so they approach an offshore registered company (no idea who owns it, no public information available) who in May provides them with a loan of £200k on which interest is charged at 7.5% p.m. and is fully repayable in 1 month or by monthly repayments of £5k.
One month on they can't repay the money and they need some more cash so they add another £250k to the loan - now £450k repayable in full 1 month or £5k p.m. at 7.5% interest p.m.
What happens in July?????????????
Perhaps they can use the FL monies to repay it.
What happens when they need more money?????????
Now it might be that Cash4Assets Ltd is just a funding vehicle for this rich benefactor. It might be that the benefactor rolls up the interest and adds it to the outstanding never to be repaid debt rather than insisting they pay it when its due. It might be that he has the best interests of the club at heart and has deep pockets and is taking a long term view and is happy for the club to hemorrhage cash in the short to medium term.
Or it might be that ultimately it doesn't matter because they will just appoint a receiver and realise their security.
Not looking good. R11 et al are right to be worried. |  |
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| Today's bury thread on 17:48 - Jun 24 with 2706 views | aleanddale |
| Today's bury thread on 09:47 - Jun 24 by R11BFC |
If we are being shafted - which we could well be. You seem to take a great deal of pleasure out of it. Why...just out of interest? |
Ow do R11.
First up I dont want any bURY fan to lose there club. I have said many times but for the grace of god we could be only half a step behind you.
As others have more elequently put it is the hundreds of bURY fans - and i know plenty who have a very different mindset to ourselves.
The lauding I receive from shaker aquantance at the moment in the face of what looks very odd at best a little humility would not go amiss.
so yep i admit i would enjoy a few bruised knees being dished out to our main rival* if it pegged back that misplaced arrogance a place or two.
Or Mr Day is a genius....... and we have all got it massively wrong.
*yes our main rival is you ( in my eyes ) and not Premiership sleeping giant Burnley. | | | |
| Today's bury thread on 17:53 - Jun 24 with 2695 views | R11BFC |
We are looking into it TTN...that's the point i'm trying to make! [Post edited 24 Jun 2014 18:05]
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| For God loved the world so much, that He gave His only Son, so that everyone who believes in Him, may not die, but have eternal life. John 3:16 |
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| Today's bury thread on 19:08 - Jun 24 with 2594 views | BigDaveMyCock |
| Today's bury thread on 13:02 - Jun 24 by 100notout |
So they're strapped for cash and they want / need a new pitch. It costs around £150k so they plump for a loan of £200k.
Nobody will give them a loan so they approach an offshore registered company (no idea who owns it, no public information available) who in May provides them with a loan of £200k on which interest is charged at 7.5% p.m. and is fully repayable in 1 month or by monthly repayments of £5k.
One month on they can't repay the money and they need some more cash so they add another £250k to the loan - now £450k repayable in full 1 month or £5k p.m. at 7.5% interest p.m.
What happens in July?????????????
Perhaps they can use the FL monies to repay it.
What happens when they need more money?????????
Now it might be that Cash4Assets Ltd is just a funding vehicle for this rich benefactor. It might be that the benefactor rolls up the interest and adds it to the outstanding never to be repaid debt rather than insisting they pay it when its due. It might be that he has the best interests of the club at heart and has deep pockets and is taking a long term view and is happy for the club to hemorrhage cash in the short to medium term.
Or it might be that ultimately it doesn't matter because they will just appoint a receiver and realise their security.
Not looking good. R11 et al are right to be worried. |
Cash4Assets are registered in the UK. However, they are registered as a dormant company. They were created in 2007 so it would be strange if it was a funding vehicle. Your last point could very well be on the money (certainly no pun intended). | |
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| Today's bury thread on 19:30 - Jun 24 with 2575 views | BigDaveMyCock |
| Today's bury thread on 09:41 - Jun 24 by R11BFC |
Not sure what you mean tbh.
But the truth is, you dont know what we're doing behind the scenes.
Lender has been noted and as you say, considered exceptionally strange.
Anything else? [Post edited 24 Jun 2014 9:43]
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Not sure what I mean?
There's a dormant company that appears to be made up of someone who is in exactly the same business as your Chairman. This company, with no history or presence as a lender (it's fookin dormant), suddenly spurns into life and makes a loan, secured on your club's stadium, for £200,000 at an astronomical interest rate. It's ridiculously amateurish website is also suddenly nowhere to be seen. You're also spending like it's going out of fashion!! THESE ARE THE PEOPLE WHO WILL GET YOUR STADIUM IF YOU DEFAULT ON THIS VERY DEFAULTABLE LOAN.
You suggest that you're already 'on to it'. The loan maybe. The above, oh no you were not.
You seemed to be obsessed with our apparent pleasure at this. With all due respect it's beyond that. For crying out loud you (collectively), as TTN has rightly pointed out, need to be doing an awful lot more. | |
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| Today's bury thread on 19:36 - Jun 24 with 2568 views | 100notout |
| Today's bury thread on 19:30 - Jun 24 by BigDaveMyCock |
Not sure what I mean?
There's a dormant company that appears to be made up of someone who is in exactly the same business as your Chairman. This company, with no history or presence as a lender (it's fookin dormant), suddenly spurns into life and makes a loan, secured on your club's stadium, for £200,000 at an astronomical interest rate. It's ridiculously amateurish website is also suddenly nowhere to be seen. You're also spending like it's going out of fashion!! THESE ARE THE PEOPLE WHO WILL GET YOUR STADIUM IF YOU DEFAULT ON THIS VERY DEFAULTABLE LOAN.
You suggest that you're already 'on to it'. The loan maybe. The above, oh no you were not.
You seemed to be obsessed with our apparent pleasure at this. With all due respect it's beyond that. For crying out loud you (collectively), as TTN has rightly pointed out, need to be doing an awful lot more. |
They are BDMC - they're looking into it. ................................. like you do when you see a big hole | |
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| Today's bury thread on 20:10 - Jun 24 with 2524 views | BigDaveMyCock |
| Today's bury thread on 19:36 - Jun 24 by 100notout |
They are BDMC - they're looking into it. ................................. like you do when you see a big hole |
You've sent me right back to an older woman I pulled at Bojangles once. [Post edited 24 Jun 2014 22:00]
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| Today's bury thread on 21:43 - Jun 24 with 2446 views | pnc4eva1 |
The problem of strange loans with Gigg being used as security does bring back a point that I made several months ago. Mr Day has made his money from University student developments. Bury college is trying to gain University status with Bolton University. Gigg Lane is close to Bury College (University).
Now I may be putting 2 and 2 together to get 5 but a dormant company lends money at a Wonga style rate and the ground is used as security................ |  |
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| Today's bury thread on 01:22 - Jun 25 with 2352 views | R11BFC |
| Today's bury thread on 18:34 - Jun 24 by aleanddale |
 x x
I actually wouldnt mind the revenue and the rivalry if both in the same divison.
As before some Humility goes a long way..
and i agree R11 - we are all ( lower league ) football fans. |
Agreed.
Plenty of humble bURY fans btw. | |
| For God loved the world so much, that He gave His only Son, so that everyone who believes in Him, may not die, but have eternal life. John 3:16 |
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| Today's bury thread on 01:36 - Jun 25 with 2346 views | R11BFC |
| Today's bury thread on 19:30 - Jun 24 by BigDaveMyCock |
Not sure what I mean?
There's a dormant company that appears to be made up of someone who is in exactly the same business as your Chairman. This company, with no history or presence as a lender (it's fookin dormant), suddenly spurns into life and makes a loan, secured on your club's stadium, for £200,000 at an astronomical interest rate. It's ridiculously amateurish website is also suddenly nowhere to be seen. You're also spending like it's going out of fashion!! THESE ARE THE PEOPLE WHO WILL GET YOUR STADIUM IF YOU DEFAULT ON THIS VERY DEFAULTABLE LOAN.
You suggest that you're already 'on to it'. The loan maybe. The above, oh no you were not.
You seemed to be obsessed with our apparent pleasure at this. With all due respect it's beyond that. For crying out loud you (collectively), as TTN has rightly pointed out, need to be doing an awful lot more. |
Yeah...not sure what you meant, as you said, "...nobody has noted the lender..."
Whereas we had 3 weeks ago...as i say, keep up! Re paragraph 2..."oh yes we were!" Let's face it, you're guessing and i know.
We're splitting hairs though - i agree with you.
Do more? We're already spending 100s of hours on it and some of us have got jobs and families!
Anyway, it's half one and i've gotta be up in an hour checking some company charges.  | |
| For God loved the world so much, that He gave His only Son, so that everyone who believes in Him, may not die, but have eternal life. John 3:16 |
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| Today's bury thread on 08:56 - Jun 25 with 2239 views | DeadSquirrel |
| Today's bury thread on 21:43 - Jun 24 by pnc4eva1 |
The problem of strange loans with Gigg being used as security does bring back a point that I made several months ago. Mr Day has made his money from University student developments. Bury college is trying to gain University status with Bolton University. Gigg Lane is close to Bury College (University).
Now I may be putting 2 and 2 together to get 5 but a dormant company lends money at a Wonga style rate and the ground is used as security................ |
This is an obvious assumption.
I believe you first made the point in June 2013.
There is a major opportunity for a developer within the town and it is believed that Days company or more likely his associated partner company are already project managing building works being carried out upon the new campus'.
This would put his company and its partners in pole position to project lead the planned £30/35 Million investments in local university campus along with being in pole position to manage the lettings side of the halls of residence etc.
On the other hand, They could lose that opportunity by being seen to fail at managing the towns main nationally known asset. | | | |
| Today's bury thread on 10:23 - Jun 25 with 2186 views | shaker75 |
| Today's bury thread on 23:01 - Jun 23 by KenBoon |
Their website is down, however if you hit the Wayback Machine you can see their website from when it was live.
https://web.archive.org/web/20130630221643/ http://cash4assets.co.uk/
Edit: You'll need to copy and paste the entire link because the forum has kindly split it into two (when its one)
Look like a standard high-interest rate lender but with a business niche.
That page also links to Assetcash (Facebook, Website and Twitter). [Post edited 23 Jun 2014 23:05]
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The website isn't down. The owner of the domain cash4assets.co.uk is Peter Currie and he resigned from the company on March 21st and took the website off air on March 27th. Perfectly normal behaviour. However I'm not saying the rest of this is normal | | | |
| Today's bury thread on 12:36 - Jun 25 with 2112 views | ColDale |
I would be very surprised if housing was the intentions for Gigg Lane, certainly not directly through Stewart Day.
Had someone acquired Spotland for housing, with no replacement stadium forthcoming, I'd have imagined the building of those house who be full of issues, from legal threats to out and out sabotage on the building work. And I don't think Bury fans would act in any other way.
But a loan of £200,000 at 7.5% interest per month is a guaranteed way of taking money out of a football club. There's no need to even allocate a salary for yourself if the interest payments alone were £15,000 for the first month. On an income level higher than their's (which it will be undoubtedly next season), we would never be able to afford to repay such a loan. Someone could just claim monthly payment after monthly payment until there's nothing left to take, and in which point, you inherit the ground. You could argue it's against Bury's interest to pay back a single penny if they're never going to be able to pay it off.
Given the mysterious nature of Cash4Assets, I do hope all possible links are being investigated. |  | | |
| Today's bury thread on 15:07 - Jun 25 with 2016 views | Daley_Lama |
If I owned a load of properties that i rented out then I reckon I would be liable for a lot of Capital Gains Tax
If I wanted to avoid having to pay that to the treasury, I would want to reduce my net gains to zero, therefore pay no tax
I could do this by owning a separate company and making losses in that company which equated to the tax liability.
Nobody likes to lose money however so I would like to lose money in a way that benefitted me. I could take a big loan out for example and pay high monthly interest rates to a company that is off shore, or has a benefactor who is sympathetic to the cause.
This is definitely not the case at Bury and any allegations of such practice would be wrong. They have a solid directorship that includes a director who is a lawyer speciailising in legal property law and there is no doubt in my mind that this is a short term loan to get the pitch sorted. |  |
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| Today's bury thread on 15:27 - Jun 25 with 2000 views | robshaker |
| Today's bury thread on 10:18 - Jun 24 by R17ALE |
I know your question wasn't directed at me, but I'll put my 2 pennorth in.
On-line, bury fans have created something of a niche for themselves with an attitude of "we know best".
I could give you scores of examples but, most recently there were some on here 12 months ago saying we were diving in too soon signing the likes of Hogan and Lund, whilst Blackwell was being pragmatic in biding his time. Seriously, I'm not making that up.
When Day took over, on the very same day, I got a text from one of your lot. It simply said, "tonight we bathe in gold".
Now, us Daleys are a battle hardened, weather beaten set of fans, who have a natural instinct not to immediately believe all that is placed in front of us - eg the PPP Arf scheme a few years ago.
So when a neighbouring club (whose fans think they know best) are faced with the bizarre events that your club have been presented with, it is very interesting to watch and observe. I don't know aleanddale, but I think you may have mistook his rabid interest as a sort of guilty pleasure - a guilty pleasure many perverse in, a naughty secret even.
Our MP is going to write a book on it! |
razz ol son the bathe in gold text I sent to every faily in my phone and was not meant to be serious its a line from a film (300)..
isn't there council documents going back over 100 yrs stating the pitch/site at Gigg Lane can only ever be used for football/sports and this prevents any such venture for anything else unless you think they will build flats round the pitch after knocking down the stands!!
off course its all b0ll0ks the rumours as per usual no way would they do so much work to the pitch if the plan was to play at Salford Stadium.
Bury FC's Heritage is paramount.
makes me laugh when I hear/read a fail fan commenting things like 'if we were in the same division' etc when your barely out of the one you spent 80 odd consecutive years in (bar 2010/12)!!! but have your fun suppose you've earnt it...
Bury FC
Since 1885
( I can smell another anniversary next year) | | | |
| Today's bury thread on 15:31 - Jun 25 with 1990 views | Daley_Lama |
Roberto
If you wanted to rack up big losses to offset big gains in another part of your business portfolio to avoid paying tax, then you have to spend that money on something to generate the loss.
Sofas aren't that expensive really.
Looking forward to year 2 of the year 5 project? | |
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| Today's bury thread on 15:51 - Jun 25 with 1958 views | robshaker |
| Today's bury thread on 15:31 - Jun 25 by Daley_Lama |
Roberto
If you wanted to rack up big losses to offset big gains in another part of your business portfolio to avoid paying tax, then you have to spend that money on something to generate the loss.
Sofas aren't that expensive really.
Looking forward to year 2 of the year 5 project? |
certainly am son..
furthermore before I go I may as well mention summert ive thought for years now, I have never known or heard of another clubs support delve so deep into there rivals dealings i.e the way you dig deep into ours.
don't really have a problem with it cant see other Bury fans having a problem with it as your free agents to dig as much as you want as long as its legal but personally I would just concentrate on my own club, obviously anyone would take an interest in things you hear about your rivals etc but if I was a fail fan I would want to know who agreed to the filming in your ground of that banned hoolie, im sure your gonna say CH5 conned the club as to what the filming was about etc so if so what are they doing about it then? i.e seeking damages from CH5?? and don't say we must have left the gate open!!
wasn't good for your town that but I suppose to quote Grandad from Bread.. 'once the goose is dead you may as well eat it'
[Post edited 25 Jun 2014 15:53]
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| Today's bury thread on 16:25 - Jun 25 with 1915 views | MoonyDale |
| Today's bury thread on 15:27 - Jun 25 by robshaker |
razz ol son the bathe in gold text I sent to every faily in my phone and was not meant to be serious its a line from a film (300)..
isn't there council documents going back over 100 yrs stating the pitch/site at Gigg Lane can only ever be used for football/sports and this prevents any such venture for anything else unless you think they will build flats round the pitch after knocking down the stands!!
off course its all b0ll0ks the rumours as per usual no way would they do so much work to the pitch if the plan was to play at Salford Stadium.
Bury FC's Heritage is paramount.
makes me laugh when I hear/read a fail fan commenting things like 'if we were in the same division' etc when your barely out of the one you spent 80 odd consecutive years in (bar 2010/12)!!! but have your fun suppose you've earnt it...
Bury FC
Since 1885
( I can smell another anniversary next year) |
Rob these covenants placed on land are not worth the paper they are printed on, just look across from our ground to Denehurst Park, oh I mean cemetery ...... |  |
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| Today's bury thread on 16:28 - Jun 25 with 1910 views | D_Alien |
| Today's bury thread on 15:51 - Jun 25 by robshaker |
certainly am son..
furthermore before I go I may as well mention summert ive thought for years now, I have never known or heard of another clubs support delve so deep into there rivals dealings i.e the way you dig deep into ours.
don't really have a problem with it cant see other Bury fans having a problem with it as your free agents to dig as much as you want as long as its legal but personally I would just concentrate on my own club, obviously anyone would take an interest in things you hear about your rivals etc but if I was a fail fan I would want to know who agreed to the filming in your ground of that banned hoolie, im sure your gonna say CH5 conned the club as to what the filming was about etc so if so what are they doing about it then? i.e seeking damages from CH5?? and don't say we must have left the gate open!!
wasn't good for your town that but I suppose to quote Grandad from Bread.. 'once the goose is dead you may as well eat it'
[Post edited 25 Jun 2014 15:53]
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#robshaken |  |
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| Today's bury thread on 16:30 - Jun 25 with 1905 views | 442Dale |
| Today's bury thread on 15:51 - Jun 25 by robshaker |
certainly am son..
furthermore before I go I may as well mention summert ive thought for years now, I have never known or heard of another clubs support delve so deep into there rivals dealings i.e the way you dig deep into ours.
don't really have a problem with it cant see other Bury fans having a problem with it as your free agents to dig as much as you want as long as its legal but personally I would just concentrate on my own club, obviously anyone would take an interest in things you hear about your rivals etc but if I was a fail fan I would want to know who agreed to the filming in your ground of that banned hoolie, im sure your gonna say CH5 conned the club as to what the filming was about etc so if so what are they doing about it then? i.e seeking damages from CH5?? and don't say we must have left the gate open!!
wasn't good for your town that but I suppose to quote Grandad from Bread.. 'once the goose is dead you may as well eat it'
[Post edited 25 Jun 2014 15:53]
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Here you go Rob:
http://www.rochdaleafc.co.uk/news/article/statement-regarding-channel-5-programm
In the days leading up to that article there were posts on here asking what had happened and supporters had contacted the club both through the Trust and directly. The club then responded, as they should do. Just how many examples can you give of Bury responding to recent enquiries and concerns from fans? Oh, and as officials are looking into how they gained entry into the ground, you can rest assured that we'll ask again into what happened if nothing further comes back. |  |
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