Player Budget

rightwing

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OTR have long indicated that they would be amenable to selling the building to the Club or Trust at the balance sheet valuation .Surely this doesn't need to be connected to acquiring OTR itself? Then OTR could be dissolved after the sale of the building?
 

John William

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There was a lot of discussion when I was on the TB about buying out the individual shares in OTR, the Trust could not do this as the reversion was only to the Club. IIRC the Club had (has?) the right to buy shares "at par", but there was great uncertainty at the time over what this meant. Subsequently Steve Perryman and Julian Tagg sold their interest to the Club and from reading the Companies House website it seems there are now only two of the original 8 owners, plus Taggy who I assume is there to represent the Club's interest.
 

ExmouthMart

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9C15D32B-BD04-45BF-990B-06AEFB1AB312.jpeg Again why is this carrying on still and for what reason?! Were all the people listed involved right at the beginning or have joined since?! Mr Tagg has been quoted as saying they don’t make a penny from it and as other people have said it was set up during a period of great uncertainty for the club but that was a long time a go. Things have changed but not some things obviously……. I saw this sort of set up referred to somewhere as like ‘an old boys club’ or something like that.
If I was being cynical you could quite easily question the motives of this. You don’t gain any financial reward like a dividend and can’t sell your shares. There aren’t any but if you had a little company that owned a little plot of land bang in the middle of a much larger plot of land that in certain circumstances might become available to sell to say a building company…….
I don’t understand why The Trust as the majority owner have not instructed the football club board who act as their subsidiary to run the club to sort this out. Everything is supposed to be clear and transparent but this doesn’t seem to be, unless someone knows differently. A company registered at St.James Park for the benefit of the football club but not technically controlled by the clubs owners.
 

Grecian in Guzz

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View attachment 9286 Again why is this carrying on still and for what reason?! Were all the people listed involved right at the beginning or have joined since?! Mr Tagg has been quoted as saying they don’t make a penny from it and as other people have said it was set up during a period of great uncertainty for the club but that was a long time a go. Things have changed but not some things obviously……. I saw this sort of set up referred to somewhere as like ‘an old boys club’ or something like that.
If I was being cynical you could quite easily question the motives of this. You don’t gain any financial reward like a dividend and can’t sell your shares. There aren’t any but if you had a little company that owned a little plot of land bang in the middle of a much larger plot of land that in certain circumstances might become available to sell to say a building company…….
I don’t understand why The Trust as the majority owner have not instructed the football club board who act as their subsidiary to run the club to sort this out. Everything is supposed to be clear and transparent but this doesn’t seem to be, unless someone knows differently. A company registered at St.James Park for the benefit of the football club but not technically controlled by the clubs owners.
Sounds like a question to ask at Trust AGM ?
 

Colesman Ballz

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View attachment 9286 Again why is this carrying on still and for what reason?! Were all the people listed involved right at the beginning or have joined since?! Mr Tagg has been quoted as saying they don’t make a penny from it and as other people have said it was set up during a period of great uncertainty for the club but that was a long time a go. Things have changed but not some things obviously……. I saw this sort of set up referred to somewhere as like ‘an old boys club’ or something like that.
If I was being cynical you could quite easily question the motives of this. You don’t gain any financial reward like a dividend and can’t sell your shares. There aren’t any but if you had a little company that owned a little plot of land bang in the middle of a much larger plot of land that in certain circumstances might become available to sell to say a building company…….
I don’t understand why The Trust as the majority owner have not instructed the football club board who act as their subsidiary to run the club to sort this out. Everything is supposed to be clear and transparent but this doesn’t seem to be, unless someone knows differently. A company registered at St.James Park for the benefit of the football club but not technically controlled by the clubs owners.
As you have had explained, it is an on going process. In the meantime it is not going to be sold to any developer, firstly as the way it is set up precludes this and secondly with the Club now part owning it becomes Impossible. It isn't an urgent matter. There may well be other reasons delaying matters as well. For example one of the investors was Ivor who having passed away recently it could well be that his estate has yet to be settled ? There is nothing to be concerned about happening or not happening here as far as I am aware of.
 

Grecian in Guzz

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As you have had explained, it is an on going process. In the meantime it is not going to be sold to any developer, firstly as the way it is set up precludes this and secondly with the Club now part owning it becomes Impossible. It isn't an urgent matter. There may well be other reasons delaying matters as well. For example one of the investors was Ivor who having passed away recently it could well be that his estate has yet to be settled ? There is nothing to be concerned about happening or not happening here as far as I am aware of.
Please can I put in a plea for improving the "real Fan" experience in the FECRACE and outside Fan Zone - better ventilation, more service points & somewhere to put you pint down whilst you eat your Kenniford Farm or Chunk offering ?
UTC
 

Colesman Ballz

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Please can I put in a plea for improving the "real Fan" experience in the FECRACE and outside Fan Zone - better ventilation, more service points & somewhere to put you pint down whilst you eat your Kenniford Farm or Chunk offering ?
UTC
I'd second that, but it's nowt to do with me these days ! You can always raise the point by contacting the Trust or speaking to them at their stand on match days !
Personally I would also like to see a canvas canopy that could be hoisted over Red Square on wet match days.
 

SaintJames

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As you have had explained, it is an on going process. In the meantime it is not going to be sold to any developer, firstly as the way it is set up precludes this and secondly with the Club now part owning it becomes Impossible. It isn't an urgent matter. There may well be other reasons delaying matters as well. For example one of the investors was Ivor who having passed away recently it could well be that his estate has yet to be settled ? There is nothing to be concerned about happening or not happening here as far as I am aware of.
Sometimes there isn't a conspiracy round every corner but the issue of Ivor's estate not having concluded probate is a highly plausible response. I do believe the question of OTR to be pertinant but not time pressing whereas the club's utility bills going up threefold most certainly is much more pressing. The increase in utility bills coupled with the increases the club has inevitably faced in cost increases are real time actual concerns that somewhat dwarf the increase in the training ground costs. I would estimate the increases in costs could be in excess of £200,000 compared to what was in the budget. I suspect this is why the playing budget has also been impacted
 

ExmouthMart

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Sometimes there isn't a conspiracy round every corner but the issue of Ivor's estate not having concluded probate is a highly plausible response. I do believe the question of OTR to be pertinant but not time pressing whereas the club's utility bills going up threefold most certainly is much more pressing. The increase in utility bills coupled with the increases the club has inevitably faced in cost increases are real time actual concerns that somewhat dwarf the increase in the training ground costs. I would estimate the increases in costs could be in excess of £200,000 compared to what was in the budget. I suspect this is why the playing budget has also been impacted
I am not saying there is a conspiracy. How could there when it involves people at the core of the club. It is pertinent to ask why rent is being paid to a company that was set up many years ago to protect the club when no one knew what the future held. This company is registered at St.James Park and regardless of how you dress it up is independent of the ‘owners’. It doesn’t matter that they can’t sell it or profit from it. I fail to understand what it’s purpose is or why it still exists. The original loans can be returned and ownership reverts to the club isn’t that how it works?! Mr Tagg and Mr Perryman had their loans retuned, so why can’t the others? Mr Tagg stated no one makes a penny from it. Surely it wasn’t purchased all those years ago as an investment, I believe it was done with the clubs future foremost in peoples minds, anything else would be something completely different.
As has been said Ivor Doble passed recently so his estate being sorted might be a factor but that still doesn’t explain why OTR has been running all these years and how it’s another cost to the club that might not be necessary if it was resolved and there shouldn’t be any difficulties with that either as everyone should have the club as their priority and nothing else.
 

grecian-near-hell

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I am not saying there is a conspiracy. How could there when it involves people at the core of the club. It is pertinent to ask why rent is being paid to a company that was set up many years ago to protect the club when no one knew what the future held. This company is registered at St.James Park and regardless of how you dress it up is independent of the ‘owners’. It doesn’t matter that they can’t sell it or profit from it. I fail to understand what it’s purpose is or why it still exists. The original loans can be returned and ownership reverts to the club isn’t that how it works?! Mr Tagg and Mr Perryman had their loans retuned, so why can’t the others? Mr Tagg stated no one makes a penny from it. Surely it wasn’t purchased all those years ago as an investment, I believe it was done with the clubs future foremost in peoples minds, anything else would be something completely different.
As has been said Ivor Doble passed recently so his estate being sorted might be a factor but that still doesn’t explain why OTR has been running all these years and how it’s another cost to the club that might not be necessary if it was resolved and there shouldn’t be any difficulties with that either as everyone should have the club as their priority and nothing else.
Ask the Trust!
 
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