Takeover 50/50 ?

[nickbrod]

Is it April 1st again??[/quote]

Could well be

Both have bought properties down here apparently so a source tells me.[/quote]

That 'source'...wouldn't be vodka, would it?[/quote]
That would be 'sauce' surely?

[Fonda]

Of cauce

[A Realist]

This is complete balderdash and bears no relation to reality in the slightest.

They were not in any danger of not starting the season. The issue they had was cash flow. They had not sold a player for a couple years and have had crap cup performances in the last few years, therefore there was no reserve income. They always knew they were going to get cash (season ticket sales etc) but did not have it at that point. At almost every other (lower league) club in the country the owner subs this during the summer months, or the bank overdraft will be used. The first is not an option for exeter, and whether the second is viable depends on their deal with the bank. A PFA loan is so low interest as to almost be free, so was a sensible option for them to take at the time. The fact it was a PFA loan means it was a public affair, rather than, say, Thea getting her cheque book out AGAIN. Believe me, we probably needed MORE of a sub last summer than Exeter to get through.

And as for being "exceptionally lucky" with the Grimes sale, this completely misses the point. It most definitely was not "lucky" . Exeter, since their fans took over, have decided to divert large (Very large) amounts of money into their youth setup compared to their turnover. They have decided to INVEST, speculating on a return the same as any other investor. The return on their investment is players into the first team, cutting playing budget costs, and the occasional player sale. They have consistently achieved this, with loads of the first team squad being ex youth teamers. They have also achieved regular sales, people like George Friend, Moxey, Grimes. The other option is to spend this money elsewhere, in which case they wouldn't have had a cash flow problem and wouldn't have had to borrow.

And their fan ownership has been far from successful? Conference play off final losers,conference play off final winners, promotion to league 1, had a go at the playoffs this year against a backdrop of long term injuries on much less money than a lot of teams around them. They have achieved all that while having a vibrant youth system, being community facing, living within their means and not going into debt.

I would take that for us all day long.

They are or were not living within their means hence why they had to go to the league for money to keep going. Here's a story from the beginning of the season just gone showing that they owed.

http://www.google.com/url?sa=t&rct=j&q= ... GU&cad=rja

I also know that their youth system is good but it is also incredibly rare that any team will pay the kind of money they got for Grimes for a lower league player. To me, that was very lucky. Probably a once in a lifetime. Even though they may move some other players on, I highly doubt they will get that sort of money again.

[hector]

It is all very well decrying the admirable efforts of Exeter City's Trust but what the naysayers fail to seem to recognise is that there may not be an alternative for Torquay, than the TUST.

Where is this white knight riding in by June 2nd?

At least if it did go wrong, those who joined the TUST can at least think they did their bit, and at least they tried, whilst those seemingly wise souls who mock it and criticise and continue doing so...

[Behind-the-Gulls]

Wrexham's Trust managed to ensure their club made a small profit last year and their club really was a basket-case before the supporters took over.
They started off with the club in far worse situation then we are now but have turned things round through sheer hard work;and without the need for a deep-pocketed benefactor.

[Fonda]

Apathy reigns at Plainmoor, what a surprise. We can all bemoan our misfortune, indeed I believe it's in the DNA of those born in the Bay Area to do so. In reality, the only thing those with TUFC in their heart can do which *may* have a positive effect is to join TUST. If the very people that should care the most aren't prepared to try and help themselves, what right do we have to expect an outsider to come in and it for us? Shamefully, I haven't yet joined TUST myself, but intend to do so today. One of the things Potential investors in the club will be looking at is the strength of the support. A strong TUST is vital.

[Richinns]

Apathy reigns at Plainmoor, what a surprise. We can all bemoan our misfortune, indeed I believe it's in the DNA of those born in the Bay. In reality, the only thing those with TUFC in their heRt can do which *may* have a positive effect is to join TUST. If people aren't prepared to try and help themselves, what right do we have expect an outsider to come in and it for us. Shamefully, I haven't yet joined TUST myself, but intend to do so today. One of the things anybody looking to invest in the in will be looking at the strength of the support.

Too true - perhaps those who agree should advertise the TUST and their own membership number in their signatures?

[Dave]

Completely agree with the above posts. I think if Exeter hadn't become a fan/trust owned club they would have ceased to exist a long time ago, yes they've had troubled times since and got out of it with a cup tie and the Grimes sale, but you make your own luck.

It's true there is no white knight, yes the club may be talking to potential new owners, but the fact they're still inviting others to the table should tell everyone of us a story all of it's own, Thea may have left some money to see us through next season, but after that who knows, the club still has a medium and long term future to secure.

The club had an average gate of 2,000 last season, if everyone of those joined the TUST, the TUST could secure the future of our club if the need arose, join the TUST today, takes less than 5 minutes and £2 month.

[Southampton Gull]

Apathy reigns at Plainmoor, what a surprise. We can all bemoan our misfortune, indeed I believe it's in the DNA of those born in the Bay Area to do so. In reality, the only thing those with TUFC in their heart can do which *may* have a positive effect is to join TUST. If the very people that should care the most aren't prepared to try and help themselves, what right do we have to expect an outsider to come in and it for us? Shamefully, I haven't yet joined TUST myself, but intend to do so today. One of the things Potential investors in the club will be looking at is the strength of the support. A strong TUST is vital.

That's a fair assessment as is the one by Hector.

I for one wasn't mocking how Exeter go about things, as much as I dislike the Club as rivals I do have a lot of friends who support them. Because of that I'm well aware of the work the Trust there undertake. I have a dislike of bodies like a Trust or a union for my own reasons, but I do respect the choice of others to disagree with my views. If it got to a situation where I felt joining TUST was the only way to help save my club then I'd be happy to join and also pay the money they would have gained if I'd joined earlier. For now though I prefer to wait and see how things transpire.

[happytorq]

Too true - perhaps those who agree should advertise the TUST and their own membership number in their signatures?

good idea.

[PlainmoorRoar]

thea hands over her 80% of shares,

http://www.torquayheraldexpress.co.uk/T ... story.html

[chunkygull]

Sounds like the remaining directors have likely got exactly what they wanted all along. If she has given her shares to the plonkers that are left on the board then thats the end of us pretty soon then. R I P TUFC!

[divingbboy]

I hope I'm not putting too much of a negative slant on things, but if the club has effectively been taken over by the same people who have been running it to date, what's going to change? Something needs to, because the club isn't currently sustainable, but the lack of fresh investment is disappointing. I hope they're planning on making some serious changes designed to substantially increase the gate and get revenue flowing inwards.

[Mattpuma]

Without new ideas, impetus and cash I fail to see how the directors who failed WITH Mrs Bristows money will turn the club around WITHOUT it.
I really hope someone new can come in as otherwise I fear the same mistakes will be repeated.

[Dave_Pougher]

I too am struggling with this, although I do appreciate Thea had little choice left.

Who exactly are the remaining directors and who owns what? Is it proportional to the amount of money they individually put in? If so then fair enough. However if the "directors" include people who haven't put any cash in but have wormed their way in to a position, such as let's for arguments sake say chairman, now hold those shares then I'm afraid my worst, long held fears are slowly horribly becoming relaity.