Jason has done it again

[Hodgie1978]

Pressure was ramping up on Jason and all he does is a simple interview to the media and everything cools down again.
It's nearly 900 days we've been up for sale which is unacceptable. It's clear now that Kuljeet Singh Momi cannot pass whats required so let's move on.
Also the fans were promised certain things at the forum.
Have they forgotten?

[al1]

Yes we have been fed more 'bull',promised regular updates,more media stuff,more from the new CEO or whatever he is! We fall for it every time!

[Billy bodger]

Nothing happening, nothing to say!!!
It’s just groundhog day after groundhog day, Momi still not passed the EFL Test, Jason fooling everyone, the updates not forthcoming. I expect the 1000 day anniversary is a distinct possibility since we were put up for sale to pass.

I just wish the EFL would grow some and appoint someone to oversee the sale of the Club, Morecambe FC’s reputation has taken a massive hit due to the ownership problems. The decline of the Club all comes from the poor ownership.

Do the EFL believe what these people tell them? Because again and again they are fed a sob story and we end up another 100 days passing and still nothing moves. Is it any wonder people think it all a SHAM!!

[black morse]

Nothing happening, nothing to say!!!
It’s just groundhog day after groundhog day, Momi still not passed the EFL Test, Jason fooling everyone, the updates not forthcoming. I expect the 1000 day anniversary is a distinct possibility since we were put up for sale to pass.

I just wish the EFL would grow some and appoint someone to oversee the sale of the Club, Morecambe FC’s reputation has taken a massive hit due to the ownership problems. The decline of the Club all comes from the poor ownership.

Do the EFL believe what these people tell them? Because again and again they are fed a sob story and we end up another 100 days passing and still nothing moves. Is it any wonder people think it all a SHAM!!

It's been said before but the EFL cannot do as you suggest. Their constitution will not allow it.

[Billy bodger]

A Club owner can lose a Club if the Club enters financial Distress and is forced into administration, leading to the potential sale of the Club to a new owner.
OR
Governing Bodes like the FA can investigate and can potentially disqualify an Owner if the have been found to seriously breach the regulations, including financial misconduct, criminal offences or in breach of ownership rules.
OR
They are found to be unfit to run the Club by the Governing Bodies, which could force them to sell their shares.

The third part has never been used!!

What would constitute an owner being judged ‘unfit to run a Club’, I don’t know! I don’t think the EFL know, but it is strange it’s in the rules!!

[Hodgie1978]

That's the problem. Jason knows exactly what to do to keep the club running on as little money as he can.

[vvm]

Forgot we had a new general manager, has he given a single update (or done anything) since starting?

[fulwoodshrimp]

With relegation likely no one is going to try and buy the club currently. If there is anyone interested they will wait until we are relegated and the club will be worth significantly less to buy. I also think if we are relegated we are unlikely to return to the EFL unless someone invests heavily in the club. The whole story is a sad one and Whittingham has shown himself to be a liar and a hopeless businessman.

[Catte]

Not looked but has anyone else about Jason's history where the money came from. If he inherited and is frittering it away by ruining sporting clubs or has he earned it as a business man?

Depending on which can mean two or more different mind sets, if inherited and not denting the family coin then its a hobby one that has turned sour but as a hobby he is just letting it trundle along and if he makes some money in a sale well so be it. If it is harming the family coin he may get some internal heat to move it on, suspect after the cup run and how he is not funding it then not so much heat.

If it is a business is he offsetting the losses for tax breaks in his other businesses?

Something is off and the new kid on the block like the old kid on the block is not passing the EFL checks or is not assisting the EFL in their processes.

It would take something drastic for the EFL to remove a current owner as being not fit, they always err on the side of caution with the "well he is keeping it ticking over" attitude.
If relegated the club is much easier to fund and 1000 days may be the day he takes it off the market. Just saying.

[captain sparkle]

With relegation likely no one is going to try and buy the club currently. If there is anyone interested they will wait until we are relegated and the club will be worth significantly less to buy. I also think if we are relegated we are unlikely to return to the EFL unless someone invests heavily in the club. The whole story is a sad one and Whittingham has shown himself to be a liar and a hopeless businessman.

Deja Vu!

[redrobo]

I think we all agree (including our excellent BoDs) that the whole situation is a complete and utter mess.

BUT I'm not sure what we expect our BoDs to do about it. They are completely powerless in this farce and will remain so until the current owner agrees a deal with whoever that the EFL can agree with.

To go on and on about the problems and so called lack of communication from ALL parties is in my mind a complete waste of time.

What can the Board say that hasn't already been said numerous time over the past months If there is no positive news than the usual somewhat negative, why waste time and energy when running our club is a full time headache to those responsible for managing it and the finances as best they can.

I simply do not see point in any spokesperson from our club uttering the same words that we have heard time and time again. They can only communicate in my opinion when there is something positive to say.

Jason is playing mind games with everybody connected to our club. BoDs and fans alike.

And as for the interest from an associate of his......that like all the other proposals will fall short of EFL approval......although I continue to live in hope.

One pressing issue that does need action is the state of our pitch. Since the departure of the previous groundsman the condition has deteriorated due in part to the recent weather and will not improve over the coming months which will not help us in our battle for survival in the remaining home games.

This just the type of owner we need.....
https://www.newsandstar.co.uk/news/2493 ... t-2m-club/

[Keith]

...where the money came from. If he inherited and is frittering it away by ruining sporting clubs or has he earned it as a business man?

As far as we can tell, neither. It would appear that he borrowed it all. The strong suspicion being, he borrowed at one interest rate, then made loans to the club at a higher interest rate, thus making money no matter what happens. This has been suggested for quite a long time that this is the only scenario that makes sense, but it has never been officially confirmed or denied. Getting relegated makes no difference to him, as long as the club can make repayments. The other suspicion is, the loans are added to the asking price, so the club is becoming more expensive to buy, not less.

[black morse]

...where the money came from. If he inherited and is frittering it away by ruining sporting clubs or has he earned it as a business man?

As far as we can tell, neither. It would appear that he borrowed it all. The strong suspicion being, he borrowed at one interest rate, then made loans to the club at a higher interest rate, thus making money no matter what happens. This has been suggested for quite a long time that this is the only scenario that makes sense, but it has never been officially confirmed or denied. Getting relegated makes no difference to him, as long as the club can make repayments. The other suspicion is, the loans are added to the asking price, so the club is becoming more expensive to buy, not less.

This is the only one that makes any sense to me. Although Jason appears to have supplied the January transfer money he did so at what price? Any loans given to him must be at high interest by now. Perhaps that was why the money arrived towards the end of the transfer window.

if he is adding to the money given to the sale price each time he'll never sell us.

[redrobo]

No doubt we will never know but I wonder how much Jason and Co have actually put into our club in addition to the initial purchase price. If as we suspect he is loaning any monies himself the interest the club possibly pay on his loan to us far outweighs the cost of his repayments to his finances.If that is the case then why should he have any conscence about being hated by one and all.

s

[Keith]

...if he is adding to the money given to the sale price each time he'll never sell us.

It looks that way.

[vvm]

One pressing issue that does need action is the state of our pitch. Since the departure of the previous groundsman the condition has deteriorated due in part to the recent weather and will not improve over the coming months which will not help us in our battle for survival in the remaining home games.

By the time we play Accrington on Saturday, they'll have had a full 2 weeks to improve the condition of the pitch. I really hope they've made some progress too as I can't see it holding up to 3 home games in the space of 1 week if it looks as bad as it did against Fleetwood.

[Hodgie1978]

So I reckon that the sale would include paying money back to
1- Jason
2- Colin
3- Sarbjot
4- Kuljeet Singh Momi

I know Sarbjot + Momi paid money through Shares but come on let's not kid ourselves u think they'd walk away from that cash

[al1]

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

[KenH]

Abdul will also be owed money as he put a lot in too!

All the losses have to be financed somehow. The money to cover the losses has to come from somewhere after PMG sold off as much of the land that he could to finance the early year losses after the move the Westgate.

[deadorred70]

The more i hear the more i fear the worst.

[Wild Bill]

It's an absolute mess. Jason sounds like a bit of a fool, who's now backed into a corner financially.

The real concern for us though is who really is Momi, where's his money coming from and why hasn't he passed the EFL test?

As others have said, I can't see a good outcome for us.

[Redalert1970]

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

Pure speculation

[KenH]

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

Pure speculation

Well he clearly hasn't passed them given the length of time since he made his submissions!

[Redalert1970]

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

[black morse]

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

Pure speculation

It may be speculation but the EFL are very aware of our difficulties and would have approved the sale by now if Momi had passed their test. To be honest I'm not sure I want him to pass the test now. If he was the upright, honest owner we need it would all be done and dusted by now.

Keep being optimistic Redalert but be prepared to be very let down in the end.