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Chairman Q&A

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Terryfenwickatemyhamster
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« on: June 26, 2015, 12:41:38 pm »

I have received a message from the club today outlining how difficult they realise the current situation is for supporters. With this in mind, DC wishes to hold a Q&A session like we have had on here before. He has agreed to answer any sensible question the best he can.

Could all supporters post their questions below. Please be sensible and avoid repetition. Do not try to dress the same questions up in different ways. The deadline is next Wednesday and DC will endeavour to get his answers back on here within a few days.


In the meantime, until such time as the answers are posted, and while we go through this process the club has respectfully asked that posters refrain from posting rumour, conjecture and accusation.

Questions on this thread only.
« Last Edit: June 26, 2015, 12:58:00 pm by Deepcut Cobbler » Report Spam   Logged

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« Reply #1 on: June 26, 2015, 13:34:08 pm »

When does Mr Cardoza anticipate completion of East Stand in full; will the East Stand be ready seating wise for start of season.

What will be the capacity of the East Stand.

Can Mr Cardoza give an update on the loan status please?

regards Everbrite

Tel ; I leave it to your discretion which of these queries you will submit to Mr Cardoza.
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« Reply #2 on: June 26, 2015, 13:52:28 pm »

1. When will the precise identities of the Indian consortium be made public?
2. Can you guarantee that CW's playing budget will not be cut for the forthcoming season?
 
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« Reply #3 on: June 26, 2015, 14:04:37 pm »

Are NTFC in danger of going into administration if the takeover does not go through?

Do you intend on still supporting the team after the takeover by going to games as a fan or will your relationship with the club be ended?
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« Reply #4 on: June 26, 2015, 14:08:50 pm »

Are you able to outline the situation with regards to the ability of the club to sign players at this moment in time (i.e. before any new owners are formally in place)?  Does the Heads of Terms agreement include provision/clarity regarding this?

Up to reasonable (expressed?) limits are we able to sign players, pay transfer fees etc. as normal or is there an expectation that expenditure on such items should effectively freeze until a takeover is complete?  

If by the time this question is received we've gone on to sign the 3-4 players Chris Wilder has previously mentioned his desire to add to the squad then feel free to ignore this!

 
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« Reply #5 on: June 26, 2015, 14:32:56 pm »

Are Buckinghams owed any money?

Is the full £12m loan available to utilise on the redevelopment, with none having been lost due to legal fees, 1st land going into administration or any other reason? The 1st Land statement of affairs dated 26th Mar 2015 would suggest that the entry into administration of 1st land has resulted in money being lost.

What is the 'joint venture fee' in the 1st Land statement of affairs dated 26th Mar 2015?

Why were the council not informed of the proposed takeover until the day the news reached the public domain?

Can you assure supporters that there is no conflict of interest given the commonality of directors who are/have been involved in the County Group, NTFC and 1st Land?

Why were 1st Land selected as the development partner for Sixfields given they appear to have no history or expertise in stadium development?

Regardless of the proposed takeover, does the club have a final specification for the stadium redevelopment?

When will new seats be installed in the West/South Stand to match those in the North?
« Last Edit: June 26, 2015, 14:34:38 pm by clarkeysntfc » Report Spam   Logged
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« Reply #6 on: June 26, 2015, 14:47:27 pm »

Of the ₤12m NBC enabling loan.

How much has been paid to who and for what?

To date, how much has the east stand actually cost and what is the expected final cost?

Will you sell as quickly as possible?
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« Reply #7 on: June 26, 2015, 14:50:47 pm »

Have you ever answered a question with a truthful and honest response?

How have you made such a c0ck up of the redevelopment?

Do you know what you are doing?

How has your house extension worked out?

How do you expect a football stand to be built without a design?

I am familiar with JCT Suite Design and Build Contracts but have never stumbled across the Build and Design version, where can this be located?

Where is the council’s £12 million loan?

If nothing can be released into the public domain why are partaking in a Q&A session? 
« Last Edit: June 26, 2015, 14:52:19 pm by MK_Cobbler » Report Spam   Logged
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« Reply #8 on: June 26, 2015, 15:15:30 pm »

If the Indian consortium takes control of the club will they want their own man in charge, or will they stick with and give their full backing to Chris Wilder ?
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« Reply #9 on: June 26, 2015, 15:48:47 pm »

We have also made a cash bid for Southend's Luke Prosser (another small detail which doesn't quite fit into the apocalyptic narrative that many on here are so gleefully buying into.)

Fair enough...DC did say it was "business as usual" whilst the deal went through.

As an aside there are fresh "reporting procedures" which the Football League have to be made aware of when there is a 30% or higher change in ownership of a FL Club. Failure to report, or failure of the FL to ratify could lead to a transfer embargo being placed on the club until certain conditions have been met.
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« Reply #10 on: June 26, 2015, 15:54:04 pm »

Is Markus Grossman involved in any way with the Indian consortium???
Why didn't you announce a fellow director / sponsor leaving the club Huh?
If you have heads of terms signed this has been going on for months why have you only just told the council???
How much of the loan is remaining???
How much has the stand cost???
« Last Edit: June 26, 2015, 19:18:51 pm by Manwork04 » Report Spam   Logged

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« Reply #11 on: June 26, 2015, 16:56:58 pm »

After years of working to get into a position to reach your final goal, I.e redevelop the ground and surrounding area, why sell now when most of the leg work had been done?

What is your biggest regret over the past 18 months?

Should this takeover signify exciting times ahead for NTFC and its supporters?
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« Reply #12 on: June 26, 2015, 17:42:55 pm »

We have been here before with DC and his cherry picking of Q&As.  But with my cynical radar full on here goes:

1  You have a lot to explain and the best thing you can do is make a full and complete statement of why the redevelopment is in such a mess and state your responsibility for the mess.

2. You can start with explaining to us supporters the business reason for awarding the contract valued in the region of £10/11 million to 1st Land Ltd, a company with no history, one share shareholder, a share capital of £100 and one director who happens to be the same person, a Howard Grossman. 

3. Did you and your father make this decision alone or with full consultation with your co-directors including the Trust representative?

4.What is Grossman's background and what are his qualifications?  What was the arrangement between you and your father as regards the £2.6 million "loan" or "joint venture fee"? Were you seeking personal profit in this specific arrangement?  If not please explain with complete transparency what this is all about.  Why was the so-called fee not in the name of NTFC?

5. Is the cost of the redevelopment being inflated to cover such "fees"?

6. What exactly is the role/function of County Developments Ltd in the redevelopment?

7. Is County just a vehicle for earning fees from the project to the detriment of the club?

8. Who are the club's professional advisers on the redevelopment - viz. lawyers. architects, consulting engineers?  All are normal appointments to protect the the client (i.e. NTFC) in such a sizeable project.

9. With all of these disclosures do you consider yourself to be a fit and proper person to own a Football league club?  Do you have the background and experience to be considered competent?

10. Why did Mr Jackson resign as a director bearing in mind he is also an investor in the club and why were we not informed via the website?

Footnote: answer all of the above or none. Over to you.
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Terryfenwickatemyhamster
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« Reply #13 on: June 26, 2015, 18:08:05 pm »

I have removed a few comments from this thread. Please don't take this personal. This thread is for questions only.
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« Reply #14 on: June 26, 2015, 18:33:57 pm »

Are the new owners more interested in redevelopment of Sixfields and the surrounding areas than the football team?

Will Chris Wilder's job be at risk? Will they back him financially?

For how long have you been in takeover talks with the Indian Consortium?

You said in a Cobblers Player interview that you would remain at the club in a different role, not as chairman, whilst the club is in a transition period, do you plan to stay at the club once the transition period is over?


Thank you for your efforts at Northampton Town and I wish you all the very best in the future.
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« Reply #15 on: June 26, 2015, 19:58:49 pm »

My question to DC would be regarding the consortium - Do they have any previous experience with sporting clubs ?

Mr Hamster - Is this Q&A session purely for the takeover ? ; Will DC be able to deflect questions about the redevelopment and money situation ?

I think if DC is expected to comment on figures he should be told that there are questions about this and where this information has been gleaned.  I wouldn't want him to use the get out that he doesn't have the figures to hand or not know how First Land choose to describe the payments made to other parties.
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« Reply #16 on: June 26, 2015, 20:00:14 pm »

Can you tell fans exactly how you and your father made your fortune and exactly what your backgrounds in business are as it looks on the surface that you have never run a successful business before?

Would you like to apologise to the fans of NTFC for the current situation?

Do you plan to take any holidays to South America in the near future?
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« Reply #17 on: June 26, 2015, 20:58:08 pm »

Who are Marcus and Howard Grossman?
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Terryfenwickatemyhamster
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« Reply #18 on: June 26, 2015, 23:30:38 pm »

Either I don't get the concept of a Q & A thread or some of our posters don't. Either way I'm going to lock it and let the other Mods decide what to do... If they choose not to open it I'll submit what we've got.

After all.. I'm on holiday.  Grin Grin

« Last Edit: June 26, 2015, 23:32:40 pm by Terryfenwickatemyhamster » Report Spam   Logged
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« Reply #19 on: June 28, 2015, 22:58:47 pm »

These question are from Jolly Cobbler..


Hi, Nigel. I see you've now locked the Chairman's Q & A, but I wondered if you could add the following questions:

1. Can you confirm the widely touted rumour that the new stand was built incorrectly, and that this is a primary reason for any lack of additional seating? (I have it from a colleague who regularly subs for Buckinghams that this is the case, so I'll be interested in hearing DC's take on things.)

2. Is the mismanagement of the build (referred to in Q.1) a primary reason for the fracturing of the relationship with 1st Land.

3. Are the 'Indian Consortium' actually India based, or are they UK based but of Asian descent?

4. Do you intend taking legal action against David Palethorpe, with regards the accusations posted on his blog? If not, why not?

Regards!
David
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