Author Topic: Four directors resign. (Read 30902 times)

hoolahoop · « **Reply #30 on** January 25, 2012, 03:25:33 pm by hoolahoop »

Quote from: \"albie\" post=215249

The key point is not that they are standing down from the BoD, but if they wish to retrieve monies loaned to DRFC, or to sell the shares they currently own.

If they sell their shares, then JR is left as chairman with a minority holding, and whoever buys in can take overall control of DRFC (Patienceform).

Of course, no-one may be interested in buying into a company operating at a loss, so the position may be unchanged, with DW and TB retaining an interest via their shares, but not acting as directors alongside JR.

I suspect this has been in the pipeline for a while, but I am happy to be corrected if anyone knows different.

The majority of clubs run at a loss Albie but that doesn't usually stop someone putting their money into the club . In football terms we aren't talking 'major' investment here to sustain this club

« **Reply #30 on:** January 25, 2012, 03:25:33 pm »

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jonnydog · « **Reply #31 on** January 25, 2012, 03:27:53 pm by jonnydog »

[attachment=977]fatladysings.jpg[/attachment]

vaya · « **Reply #32 on** January 25, 2012, 03:28:48 pm by vaya »

I've had worse.

Chris Black come back · « **Reply #33 on** January 25, 2012, 03:30:29 pm by Chris Black come back »

Given that Bramall has already made clear he was not putting any more investment into the club and JR has intimated that we are no longer going to be running at a loss (which required Director investment to bridge the gap) then I don't think this development really moves matters on much.

We still have to start cutting our cloth accordingly and not living in a fantasy world where a 'good' result was seen as budgeting from a £3m LOSS each season which required passing the begging bowl round the Directors.

We get 9k crowds, TV money and sponsorship. This is now our budget. We have to live with this.

The_Rooky · « **Reply #34 on** January 25, 2012, 03:32:47 pm by The_Rooky »

I think the word 'disappointing' doesn't even come close to how JR must be feeling.

Whether or not you agree that the sacking of SOD was the right thing to do (which has and continues to be a 'hot topic'), it does seem that JR's hand was somewhat forced by some of the other Directors - in particular TB (although I'm sure we'll never know the full details).

Having (reluctantly?) gone along with the wishes of the other Directors and installed DS as SODs replacement, this must be difficult for JR to take. I wonder if 'shafted' better describes how JR's feeling right now?

I don't think this is going to help heal the rift that's appeared between supporters since SODs departure. But, I could be wrong - it might be something that brings everyone together to try and avoid relegation.

As a club, we're just going through the mill a bit at the moment.

Rovin Reporter · « **Reply #35 on** January 25, 2012, 03:41:33 pm by Rovin Reporter »

It seems like J/R has had arse kicked big style, he was made to get rid of SO'D and adapt to a new manager and McKay set up , it sounds like maybe J/R was asked to go himself and refused , so they have gone instead. This leave questions ,like \"What percentage of the clubs shares is in their control\"? .. under 50% i would assume ,\" will they still keep there voting rights if they are share holders\"? and can they block any new share holding by new investors, He has J/R has said prior that the club needed more investment.. why did he say this if Bramall was in a position to help ? Very sad this is for sure.. and relegation will cause the club to go go into administration if J/R is the only share holder putting funds into the club. As for Arabs then we are not in the ball park where they are investing WE ARE TOO SMALL A CLUB

Sheepskin Stu · « **Reply #36 on** January 25, 2012, 03:42:30 pm by Sheepskin Stu »

Didn't that Dingle fan predict this ages ago?

I'm f**king staggered by this. Will we ever know the truth?

DonnyRTID · « **Reply #37 on** January 25, 2012, 03:43:21 pm by DonnyRTID »

Gutted!
JR talking about it on Football Heaven tonight.

Sheepskin Stu · « **Reply #38 on** January 25, 2012, 03:46:26 pm by Sheepskin Stu »

Quote from: \"Chris\" post=215259

Quote from: \"Filo\" post=215240
Maybe some of the critics on here should take a long hard look at themselves!

Stupid comment. Utterly stupid.

If they can't handle criticism for very controversial decisions then good riddance to them.

I couldn't agree more Chris. If debate is to be surpressed then you might as well close the forum.

Have a think about it Dave.

Fulham Rover · « **Reply #39 on** January 25, 2012, 03:48:14 pm by Fulham Rover »

Step up to the plate Mr McKay .....your football club needs you!!

Willie McKay for next chairman anyone?!?

Donnybax · « **Reply #40 on** January 25, 2012, 03:48:49 pm by Donnybax »

hmmmm that will be interseting JR on football heaven tonight. Hopefully somebody else is lined up or else things do not look bright...

Sheepskin Stu · « **Reply #41 on** January 25, 2012, 03:49:47 pm by Sheepskin Stu »

Quote from: \"Fulham Rover\" post=215276

Step up to the plate Mr McKay .....your football club needs you!!

Willie McKay for next chairman anyone?!?

Trolling at its finest.

donnyroversfc · « **Reply #42 on** January 25, 2012, 03:51:50 pm by donnyroversfc »

John Ryan is still at the club, thats the main thing. Whilever we still have him, we still have a club!

Wokingviking · « **Reply #43 on** January 25, 2012, 04:09:51 pm by Wokingviking »

Quote from: \"albie\" post=215249

If they sell their shares, then JR is left as chairman with a minority holding, and whoever buys in can take overall control of DRFC (Patienceform).

John would get first opportunity to buy their shares (assuming standard pre-emption rights in the Articles) but he would have to match the price they want otherwise another party can acquire the shares.

WBDRFC · « **Reply #44 on** January 25, 2012, 04:11:46 pm by WBDRFC »

Quote from: \"Rovin Reporter\" post=215269

It seems like J/R has had arse kicked big style, he was made to get rid of SO'D and adapt to a new manager and McKay set up , it sounds like maybe J/R was asked to go himself and refused , so they have gone instead. This leave questions ,like \"What percentage of the clubs shares is in their control\"? .. under 50% i would assume ,\" will they still keep there voting rights if they are share holders\"? and can they block any new share holding by new investors, He has J/R has said prior that the club needed more investment.. why did he say this if Bramall was in a position to help ? Very sad this is for sure.. and relegation will cause the club to go go into administration if J/R is the only share holder putting funds into the club. As for Arabs then we are not in the ball park where they are investing WE ARE TOO SMALL A CLUB

Brammall and Watson own about 65% between them. They still have that, and still remain shareholders. As shareholders they will still have the same voting rights as they had before . Being a director doesn't give you preferential treatment in that regard at an AGM/EGM. However, they probably won't be participating in board meetings anymore.

Just because they are no longer directors does not necessarily mean anything has changed on the funding side. Anybody can invest in the club by way of a loan or donation if they want, so we could still be in the same financial position as before (Billy Sharp offer, funding gap provided by Watson etc). Granted that things could change, but we can only guess in that regard, and I don't see any reason for panic or scaremongering until we know more from JR.

With respect to the naming rights, Brammall and Watson have nothing to do with that - they sold their interest in Keepmoat plc in 2007, so they have no say on the matter.

Sheepskin Stu · « **Reply #45 on** January 25, 2012, 04:12:27 pm by Sheepskin Stu »

Quote from: \"Wokingviking\" post=215286

Quote from: \"albie\" post=215249

If they sell their shares, then JR is left as chairman with a minority holding, and whoever buys in can take overall control of DRFC (Patienceform).

John would get first opportunity to buy their shares (assuming standard pre-emption rights in the Articles) but he would have to match the price they want otherwise another party can acquire the shares.

Now is the time to get real supporters on the board.

paddymacca · « **Reply #46 on** January 25, 2012, 04:42:07 pm by paddymacca »

Really don't know what to make of this or what it means for the club. Shocked.

On another matter, Billy Sharp

Reading manager has refused to rule out a move for him. I know it seems unlikely but after todays news, who knows what impact this could have on keeping players here.

As i understood it, was it not Dick Watson who was putting his cash towards a new contract for Billy? I take it the new contract offer has been shelved.

Who knows, hopefully JR will enlighten us on football heaven at 6.

Wellred · « **Reply #47 on** January 25, 2012, 05:23:42 pm by Wellred »

Well there has been some rubbish posted on this forum over recent weeks but today some posters really have risen to the heights of stupidity with their comments. No I don't include you in that Dave.

hoolahoop · « **Reply #48 on** January 25, 2012, 05:26:45 pm by hoolahoop »

Quote from: \"Wellred\" post=215302

Well there has been some rubbish posted on this forum over recent weeks but today some posters really have risen to the heights of stupidity with their comments. No I don't include you in that Dave.

Are you going to enlighten us to what exactly you are alluding to ?

The Red Baron · « **Reply #49 on** January 25, 2012, 05:26:54 pm by The Red Baron »

It can't be good news and JR's reaction on DROS suggests he hasn't got others lined up to replace them.

The real concern will be if they want loans repaid etc. If that's the case we could be in deep s**t very soon.

hoolahoop · « **Reply #50 on** January 25, 2012, 05:29:40 pm by hoolahoop »

Quote from: \"The Red Baron\" post=215305

It can't be good news and JR's reaction on DROS suggests he hasn't got others lined up to replace them.

The real concern will be if they want loans repaid etc. If that's the case we could be in deep s**t very soon.

Just a thought , could this be tactical taking the 'money men' out of the equation prior to any completion re. KM lease ?

Wellred · « **Reply #51 on** January 25, 2012, 05:33:23 pm by Wellred »

Quote from: \"hoolahoop\" post=215304

Quote from: \"Wellred\" post=215302
Well there has been some rubbish posted on this forum over recent weeks but today some posters really have risen to the heights of stupidity with their comments. No I don't include you in that Dave.

Are you going to enlighten us to what exactly you are alluding to ?

If the cap fits.

The Red Baron · « **Reply #52 on** January 25, 2012, 05:33:57 pm by The Red Baron »

Quote from: \"hoolahoop\" post=215306

Quote from: \"The Red Baron\" post=215305
It can't be good news and JR's reaction on DROS suggests he hasn't got others lined up to replace them.

The real concern will be if they want loans repaid etc. If that's the case we could be in deep s**t very soon.

Just a thought , could this be tactical taking the 'money men' out of the equation prior to any completion re. KM lease ?

I had heard a whisper that things might be moving forward on the lease soon. However, I think your supposition may well be clutching at straws, Hoola!

madmick50 · « **Reply #53 on** January 25, 2012, 05:34:42 pm by madmick50 »

Would have been nice if the statement had given a bit of an explanation as to why they've all suddenly resigned.

pubteam · « **Reply #54 on** January 25, 2012, 05:47:36 pm by pubteam »

Well realistically, if JR is the only money man on the board, we probably won't be able to sustain Championship football. I don't think I would begrudge that, because if we can't do it, we can't do it. After all JR has done for the club, I think it's only fair he gets a bit of leeway here, and maybe stabilising and accepting that we need to balance things out again (maybe in the division below) won't be the worst thing in the world.

Sheepskin Stu · « **Reply #55 on** January 25, 2012, 05:51:09 pm by Sheepskin Stu »

Quote from: \"pubteam\" post=215317

Well realistically, if JR is the only money man on the board, we probably won't be able to sustain Championship football. I don't think I would begrudge that, because if we can't do it, we can't do it. After all JR has done for the club, I think it's only fair he gets a bit of leeway here, and maybe stabilising and accepting that we need to balance things out again won't be the worst thing in the world.

That post is far too sensible. Any chance of some ignorant, knee jerk reaction instead?

Rich_The_Conisbrough_Rover

Quote from: \"Chris\" post=215227

DRFC Official Site

What does this mean for the future?

That were in serious shit i'm afraid, i reckon were 99.9% relegation bound now, definitely without a shaddow of doubt something has happened behind the scenes what we don' know about. RTID

hoolahoop · « **Reply #57 on** January 25, 2012, 06:04:21 pm by hoolahoop »

Quote from: \"Wellred\" post=215310

Quote from: \"hoolahoop\" post=215304
Quote from: \"Wellred\" post=215302
Well there has been some rubbish posted on this forum over recent weeks but today some posters really have risen to the heights of stupidity with their comments. No I don't include you in that Dave.

Are you going to enlighten us to what exactly you are alluding to ?

If the cap fits.

Most enlightening Wellred.

FuzzyDuck · « **Reply #58 on** January 25, 2012, 06:09:40 pm by FuzzyDuck »

Quote from: \"The Red Baron\" post=215305

It can't be good news and JR's reaction on DROS suggests he hasn't got others lined up to replace them.

The real concern will be if they want loans repaid etc. If that's the case we could be in deep s**t very soon.

As I've understood, there are no loans. The club made extra share issues and the investors bought them up.

If Bramall and Watson want to sell, they need a buyer who will meet their price before they can. It's worrying that control of the club could now be wrested from JR.

Nothing stops them from continuing to invest so no sense in panicking about Billy's wages or Diouf's deal just yet.

I have an idea about what's happened that makes sense at the mo but I'll try to listen to Football Heaven tonight before I make a fool of myself

RoversAlias · « **Reply #59 on** January 25, 2012, 06:10:18 pm by RoversAlias »

Made about as much sense as Wellred usually does.

Be nice to get some more details on what JR/the club plan to do next, rather than us all just saying it's a disaster right away.

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Author Topic: Four directors resign. (Read 30902 times)

Rovin Reporter

pubteam