The Hotel End
April 22, 2018, 18:57:02 pm
Welcome, Guest. Please login or register.
Did you miss your activation email?

Login with username, password and session length
News:
 
  Home Help Search Arcade Gallery Links Staff List Calendar Login Register  

Trust update on East Stand and departure of 5USport

Pages: [1]   Go Down
  Print  
Author Topic: Trust update on East Stand and departure of 5USport  (Read 71 times)
FezNTFC
Moderator
*****
Offline Offline

Posts: 1191


View Profile
« on: April 15, 2018, 16:26:37 pm »

Have been asked to post the following:

STATEMENT BY NORTHAMPTON TOWN SUPPORTERS' TRUST - APRIL 15

The Trust wishes to update Cobblers supporters on some of the work it has been doing behind the scenes in what has been a busy few weeks.

We appreciate that fans are keen for an update on the East Stand development, following the passing of the end of March deadline which Northampton Borough Council gave the Trust as a reasonable date for these lease issues to have been completed.

It was the Trust which pushed for this date to be made public in the hope that it would spark the required action. Needless to say, we are incredibly disappointed that this deadline has not been met, and will be seeking further clarification from Northampton Borough Council immediately as to why there have been further delays.

In the last month, the Trust has held meetings with both the council and the football club, and we are at the stage now where we are being told conflicting information as to who needs to take the next step to conclude these matters.

It is our intention therefore to invite both the council and the football club to a meeting where the Trust can hopefully mediate discussions and work out a way forward that will then reach a satisfactory conclusion for both the town and the football clubís supporters.

Fans are quite rightly fed up with the constant delays, and action is needed now. Therefore, we hope both the council and the club accept our invitations, which will be extended shortly.

Focusing now away from the redevelopment, fans will no doubt have seen the changes that have been made to the ownership structure of the football club - resulting in the departure of 5USport.

Following the announcement last June that 5USport had acquired a controlling interest in the club's parent company Northampton Town Ventures Ltd (NTVL), the Trust initiated its own due diligence on 5USport. 

This included checks with credit agencies, a major Chinese bank, counterparty due diligence services and other data providers in mainland China. Our checks showed no violations of the Chinese criminal or civil code, but revealed little about 5USportís finances. 

The Trust's concerns primarily related to the lack of information that was publicly available on this front, notably any profit and loss accounts and balance sheet statements to underpin confidence in 5USportís ability to support the club financially. 

This was compounded by growing unease at the late submission of the NTVL Confirmation Statement, which indicated that the company had not in fact been sold to 5USport, combined with the disclosure at Companies House of a short term loan made to the club in January by David Bower and Kelvin Thomas.

As a meeting had already been scheduled with Kelvin Thomas and other senior staff for March 29, and with the loan seemingly not having been repaid, the Trust put the question of club ownership and finances at the top of its agenda.   

This was largely negated after we were informed at the very outset of the meeting that Mr Thomas and David Bower had re-acquired the shares owned by 5USport.

Moving forward the Trust is, as always, willing to assist the club in any way it can - be it on the issues of investment in the club or the redevelopment of Sixfields.

We are keen to help all parties be as transparent as possible in regards to the development plans and how this will benefit both the town and the long-term future of the football club.

We feel this could certainly be helped if the Trust were to regain its place on the board of the football club. We are keen to discuss this issue also with both the council and the club - given that involvement of the supportersí trust was a stipulation of the memorandum of understanding agreed between the council and Mr Thomas that exonerated the football club of any liability in respect of the £10.25m loan.

As always, our goal is to secure whatever is best for the football club and its supporters, and we sincerely hope that we will be allowed to do this with the co-operation of both the council and the football club.

If supporters wish to get in touch with the Trust regarding anything covered in this statement, or indeed anything you feel hasnít been covered, we will be happy to hear from you. Please email ntfc_trust@outlook.com
Report Spam   Logged

Social Buttons

Oversees
Sr. Member
****
Offline Offline

Posts: 405


View Profile
« Reply #1 on: April 15, 2018, 17:33:11 pm »

Thank you.

That is a clear position statement, and the Trust are clearly doing all that they are able to do.

The issues lay beyond the Trust's remit.

Any instant solutions require a benefactor with a few million quid to burn.

Else, a general appeal: have any of the vocal critics on here sold their cow for a few magic beans that they can donate?
Report Spam   Logged
Oversees
Sr. Member
****
Offline Offline

Posts: 405


View Profile
« Reply #2 on: April 15, 2018, 22:27:14 pm »

Bump ...... for all you self-important debaters
Report Spam   Logged
Oversees
Sr. Member
****
Offline Offline

Posts: 405


View Profile
« Reply #3 on: April 15, 2018, 22:31:27 pm »

oooooopssss...... I answered a few other posts in between......  BUMP
Report Spam   Logged
Oversees
Sr. Member
****
Offline Offline

Posts: 405


View Profile
« Reply #4 on: April 15, 2018, 22:42:05 pm »

Bump
Report Spam   Logged
Oversees
Sr. Member
****
Offline Offline

Posts: 405


View Profile
« Reply #5 on: April 16, 2018, 00:38:32 am »

Bump
Report Spam   Logged
Pages: [1]   Go Up
  Print  
 
Jump to:  

Powered by EzPortal
Parental guidance is urged as this messageboard may not be suitable for all persons especially those under the age of 16 as the forums may contain words, phrases and expressions not considered appropriate for a younger audience so please express caution. If any posts in the forums offend you, please let us know and we will look at them and if we agree with your complaint, we will remove them. You are personally responsible and potentially liable for the contents of your posting and may be sued should your posting contain content of a defamatory or other illegal nature. Every message posted leaves a traceable IP number. We check the forums at various times of the day and remove offending posts. Other supporters are welcome but abusive or silly posts will be removed and the offenders potentially barred from future access to the site. We advise that you never reveal any personal information about yourself or anyone else (for example: telephone number, home address or email address), and please do not include postal addresses of any kind. This messageboard is not endorsed or in any way affiliated with Northampton Town FC. All postings on this board become copyright of The Hotel End & may not be reproduced without the permission of the board administrator. By signing up to this message board you agree to this. The Hotel End cannot be held liable for the actions or postings of its members. The Hotel End reserve the right to edit, delete, move or close any thread for any reason. The Hotel End may disclose user information to government authorities at their discretion or when required by law. The Hotel End may also disclose user information when The Hotel End has reason to believe that someone is causing injury to or interference with its rights or property, other The Hotel End users, or anyone else that could be harmed by such activities. By registering for The Hotel End, you agree to indemnify The Hotel End its representatives, and agents, and hold them harmless from any and all claims (including claims for legal fees) which may arise from your participation on the The Hotel End. You also agree that The Hotel End is not responsible for the materials posted by users of The Hotel End. In addition, you grant The Hotel End and its affiliates, worldwide, royalty-free perpetual, irrevocable, non-exclusive right and license to use, reproduce, modify, adapt, publish, translate, create derivative works from, distribute, perform and display any message or content posted on The Hotel End and/or e-mail sent by you to The Hotel End (in whole or in part). The Hotel End reserves the right to make the rules up as it goes along. Thank you - The Hotel End I love Quidco
Bookmark this site! | Upgrade This Forum
SMFServer.com - Create your own Forum

Powered by SMF | SMF © 2016, Simple Machines