Jason has done it again

[Redalert1970]

I'm not taking sides etc but if I would rather this be sorted out correctly going forward so we don't end up in the same mess time after time after time

[black morse]

I'm not taking sides etc but if I would rather this be sorted out correctly going forward so we don't end up in the same mess time after time after time

So would we all but life as a Morecambe fan is not like that anymore. We have been assured that we have enough money to see us through to the end of the season but will we then have to release everyone again and start from scratch......this time outside league football.....and possibly without Derek?

[Keith]

He was asked to supply more paperwork

The EFL have 71 other clubs to deal with it's not all about us I'm afraid

Wigan's sale took about a week. Their purchaser was motivated and above board. They supplied the EFL with all the documentation that was required. We're months in to Momi's supposedly trying to buy us, but still the EFL require more paperwork? This has nothing to do with EFL 'being busy', that was more smoke and mirrors from Whittingham during his interview.

[Wild Bill]

Who says Mr Momi as failed any EFL tests ???

Pure speculation

Nobody is saying he's failed. The question though is why is it taking so long?

Jason's latest line is that Momi is trying to untangle himself from Johal.

Jason also let slip that he's had two offers accepted. One failed the EFL tests and the other never submitted. It isn't clear who these were but we never had any announcements on these at the time.

I can't see any legitimate money behind Momi.

[vvm]

I do get it from his side to an extent. You put your house on the market for say 200k, somebody offers something like 250k and you probably become totally fixated on getting that offer over the line that you ignore any others even if they're still sensible. The problem then is that the potential buyer then can't get accepted for a mortgage so no matter how much you want to sell to them, it isn't possible.

The confidentiality agreement or whatever clause that supposedly prevented Jason from speaking to other potential buyers was completely ridiculous. In fact I'm not even sure it existed, is there any rule that prevents multiple parties from taking the fit and proper test simultaneously? Instead of letting these pretend bids drag on for months he could at least get the ball rolling on other bids. That way they'd be in a position to swoop in when Momi ultimately fails the test.

[black morse]

Also PMG is owed money as well,I have forgotten how much,its been going on so long!

It doesn't seem that long ago that we were being told that the club was debt free so how can we owe money to PMG?

[Billy bodger]

Anybody got a crystal ball? Where will Jason be next year?

[Hodgie1978]

How anyone can get it from Jason's side of view is beyond me.
The greedy bastard turned down an offer north of 3 million.

[redrobo]

How anyone can get it from Jason's side of view is beyond me.
The greedy bastard turned down an offer north of 3 million.

Fact, speculation or pure fiction....take ya pick..

[Brian Sheldon]

Valentine present for someone?

Screenshot_20250215-082948.png (186.47 KiB) Viewed 2761 times

[Billy bodger]

According to companies house there are 5570832 shares @ £1, so does that make the Club worth £5,570,832? It seems a genuine question after 75,000 shares were allotted on 14th Feb (including bonus shares??).

How do you find out who they were allotted too and how many were bonus shares there where?

Another Genuine question, is it all tied into the money from Chelsea coming through?

[Hodgie1978]

I think it will be in may when the financial statement is due.

[Keith]

According to companies house there are 5570832 shares @ £1, so does that make the Club worth £5,570,832? It seems a genuine question after 75,000 shares were allotted on 14th Feb (including bonus shares??).

Yes, no, sort of, probably not...

If you bought 5,000 shares, for £5,000 but then needed to get some money back, so offered me the shares, I might only offer you £2,500 for them. Your shares are now only worth 50p each, so the club is then only worth £2,785,416. If nobody wants to buy them at all, the shares are worth zero. Almost half the shares in the club are close to worthless in many respects. At face value, only the 51%+ that Whittingham owns are really worth anything.

[KenH]

It doesn't seem that long ago that we were being told that the club was debt free so how can we owe money to PMG?

Per the accounts, it's a "guarantee" to PMG basically if he doesn't get money for his shares "sold" initially to G50 holdings, so not officially a debt/loan. So it's a contingent liability so becomes payable by the club if the "loan" between present and past owners isn't paid. The guarantee was transferred from PMG to G50 as per the latest accounts, but still potentially payable to "someone".

I can only assume its part of the money due for PMG selling his shares to Diego in the first place and Diego presumably sold those same shares to Jason/Bond, but PMG never actually received full money at that time, and maybe still hasn't.

So, not technically a loan/debt, but still payable to "someone" presumably as part of a future share sale, so ultimately something else to add to a new owner to finance to get hold of the club.

[KenH]

According to companies house there are 5570832 shares @ £1, so does that make the Club worth £5,570,832? It seems a genuine question after 75,000 shares were allotted on 14th Feb (including bonus shares??).

How do you find out who they were allotted too and how many were bonus shares there where?

Another Genuine question, is it all tied into the money from Chelsea coming through?

Every few years, there's a full list of shareholders filed with Co House available from their website. Quite illuminating how people such as Abdul's company still hold a fair amount of shares. We know no more than that, i.e. no public information about what shareholder agreements/guarantees etc are in force between the shareholders or between shareholders/company, other than what has to be declared in the accounts (PMGs guarantee). It would be surprising if there wasn't a shareholders agreement/guarantee in place whereby Sohal and Abdul don't have to be bought out by a potential new shareholder in case of a sale - they weren't going to pump in so much money with no guarantee of getting it back somehow.

[Brian Sheldon]

Newco 2017 have posted micro accounts, they are still owed over £800K.

[Hodgie1978]

Who owes him?
The club or Bond Group?

[marky No.1]

Murky waters
https://www.lancasterguardian.co.uk/spo ... -fc-831081