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New Trust statement on club finances

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claretparrot
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« Reply #280 on: July 07, 2021, 14:26:35 pm »

I agree with all that except I believe the Trust has evidence of the transactions.
I did know all of this prior to the release.
Some people have been going over the top with accusations, which in a vacuum of information from the club was always going to happen.
I have no further comments.

I think the point is KT and DB have according to the Trust broken even and still are pleading poverty, you don’t need to be a rocket scientist to know that will pîss important people off.

IMO the club needs to clear this up once and for all and put it to bed.
Let’s have a good deal of KT, DB, the club and council, FFS put the egos down get around a table and bash out a deal. I always find a meeting with no chairs gets to a satisfactory conclusion quicker.


Fair enough, and I agree that assuming the club/owners could have seen this coming (seems reasonable) they could have headed it all off with a bit more transparency. That's not to say they had to but could have been to everyone's benefit in the long run.

If you don't mind me saying though, after all the grandstanding from yourself and others about 'when the truth comes out'... 'the truth' was a bit of a let down.
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« Reply #281 on: July 07, 2021, 14:37:57 pm »


If you don't mind me saying though, after all the grandstanding from yourself and others about 'when the truth comes out'... 'the truth' was a bit of a let down.

What, owners may or may not have made some money from a share transaction they were entitled to make in a deal that fell through?  Grin
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« Reply #282 on: July 07, 2021, 14:54:17 pm »

What, owners may or may not have made some money from a share transaction they were entitled to make in a deal that fell through?  Grin
No one does a deal where the other party is able to walk off with 6.75 million for doing sod all, no one. There are a shed load of checks and balances put in by the lawyers, everyone knows that. Why would the owners of 5U Sport expose themselves like that. Now some are claiming it has happened twice in 2 years or so at Sixfields by pure incompetence alone. Sorry I might end up with egg on my face but I’m not having any of it.
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« Reply #283 on: July 07, 2021, 14:56:36 pm »

No one does a deal where the other party is able to walk off with 6.75 million for doing sod all, no one. There are a shed load of checks and balances put in by the lawyers, everyone knows that. Why would the owners of 5U Sport expose themselves like that. Now some are claiming it has happened twice in 2 years or so at Sixfields by pure incompetence alone. Sorry I might end up with egg on my face but I’m not having any of it.

Having tried to express the same opinion diplomatically, I feel this version sounds better  Grin
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« Reply #284 on: July 07, 2021, 15:00:59 pm »

No one does a deal where the other party is able to walk off with 6.75 million for doing sod all, no one. There are a shed load of checks and balances put in by the lawyers, everyone knows that. Why would the owners of 5U Sport expose themselves like that. Now some are claiming it has happened twice in 2 years or so at Sixfields by pure incompetence alone. Sorry I might end up with egg on my face but I’m not having any of it.

Manny is... Shocked
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« Reply #285 on: July 07, 2021, 15:14:02 pm »

So is someone suggesting our two owners have made £16m disappear from different avenues?
I might put that quid on the table myself as that place sounds like an absolute gold mine.  Grin
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« Reply #286 on: July 07, 2021, 15:21:02 pm »

Having tried to express the same opinion diplomatically, I feel this version sounds better  Grin
Honestly, without p1ss1ng everyone off by being Billy Big B0ll0cks businesman again I’ll give you an example. We have just signed a contract to exclusively supply a large multinational with goods and services for the next 2 years. That effing contract went backwards and forwards between the lawyers like a table tennis ball. Not happy with that wording, you’re exposed there, you have no redress if X, Y or Z happens, we’re still not happy with clauses 2, 5 and 1099b Two and a half months of mostly bu11s*** and fine print, it drove me insane. I wouldn’t mind but we get that crap every time. Meanwhile over at Sixfields the council hand over 10 million without a by your leave or thank you, to be drawn down when you want for what you want, no problem happy days. Then 5U Sport rock up and it’s hand over 6.75 million and by the way if the deal falls through we keep the lot and you fcuk off back to China with you scorched fingers covered in Savlon. Fcuk off, where are NTFC finding these imbeciles? Call me a stubborn fool but I remain somewhat sceptical and incredulous about the whole lot.
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« Reply #287 on: July 07, 2021, 15:30:39 pm »

No one does a deal where the other party is able to walk off with 6.75 million for doing sod all, no one. There are a shed load of checks and balances put in by the lawyers, everyone knows that. Why would the owners of 5U Sport expose themselves like that. Now some are claiming it has happened twice in 2 years or so at Sixfields by pure incompetence alone. Sorry I might end up with egg on my face but I’m not having any of it.

Oh, I'm not saying that's what happened, I'm just saying that seems to be the extent of the "scandal" if it did!
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« Reply #288 on: July 07, 2021, 15:43:45 pm »

Oh, I'm not saying that's what happened, I'm just saying that seems to be the extent of the "scandal" if it did!
If you had I have to say I would question your judgement and ask you to consider your position? 😉
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« Reply #289 on: July 07, 2021, 15:48:04 pm »

No one does a deal where the other party is able to walk off with 6.75 million for doing sod all, no one. There are a shed load of checks and balances put in by the lawyers, everyone knows that. Why would the owners of 5U Sport expose themselves like that. Now some are claiming it has happened twice in 2 years or so at Sixfields by pure incompetence alone. Sorry I might end up with egg on my face but I’m not having any of it.
Exactly. And the implication is that 5USPORT have paid out 6.75m, lost every penny and put it down to a bad day at the office is absurd. There is no way that KT is anywhere close to be 6.75m better off for a failed deal. With the costs of lawyers, especially when dealing internationally, I would be amazed if they made any profit from it at all. Especially when factoring in time spent on the phone etc
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« Reply #290 on: July 07, 2021, 16:01:25 pm »

I can’t really disagree with any of that apart from its all aimed at the Trust, surely the exact same questions should be asked of the club?
I’m all for balance but at the moment everything is against the Trust, quite rightly we should have transparency from them BUT the same goes for the club and I’m not seeing that……

Mate, we are on a thread called "New Trust Statement on Club Finances".

I'm digging below the surface of what the Trust are saying into the detail to be better informed and maybe help some others to be as well.  Frankly I had to read the Trust statement 3 times to even get my head round what was being said and even now I'm not quite sure what they are accusing the owners of having done...if anything at all?  That in itself is a problem and even now I see people including yourself posting incorrect versions of what the trust actually said.

As I said before people including myself need to be taken on a journey.  If KT is another DC tell me why and prove it.  Don't come to me in two years time saying I told you so which is what some people seem to be setting themselves up to do.
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« Reply #291 on: July 07, 2021, 16:04:20 pm »

Oh and by the way I've had a reply an hour ago literally from the "NTFC Trust"....

Thank you for your email. We will respond asap after our next board meeting which is on 14 July.

Best wishes,

NTFC Trust 
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« Reply #292 on: July 07, 2021, 16:18:55 pm »

Having tried to express the same opinion diplomatically, I feel this version sounds better  Grin

I'm so glad I'm not the only one that is coming to these conclusions - I suspect no one contributing to this thread really knows the P&L details on the Chinese deal - of course it suits a certain agenda to paint KT & DB as money grabbing individuals but as now echoed by several the likelihood of the Chinese just giving up on £6 million just liker that is somewhat slim & in the very very unlikely scenario that it is the case KT & DB would still barely have covered their existing loans - frankly its all becoming a non story fanned by people with agendas  of unknown objectives.
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« Reply #293 on: July 07, 2021, 16:50:06 pm »

Having tried to express the same opinion diplomatically, I feel this version sounds better  Grin

 Grin
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« Reply #294 on: July 07, 2021, 16:52:04 pm »

If 5USPORT had so much money they could walk away from £6.7 million without blinking then I’m gutted they couldn’t stay.
In other news I saw the MK lost £63k a week in their last year of accounts.
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« Reply #295 on: July 07, 2021, 17:11:10 pm »

If that situation arises would you seriously  wish to have anyone connected to the Trust board involved?

No but they did a reasonable job....eventually on the Cardoza situation - even I parted with money? On the other hand we have to have a backstop if things go sour. If the Trust love's the Club then they might be the right vehicle to help. Not all the Trust Board are insincere in their appreciation of NTFC... can they?
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« Reply #296 on: July 07, 2021, 17:34:28 pm »

I'm so glad I'm not the only one that is coming to these conclusions - I suspect no one contributing to this thread really knows the P&L details on the Chinese deal - of course it suits a certain agenda to paint KT & DB as money grabbing individuals but as now echoed by several the likelihood of the Chinese just giving up on £6 million just liker that is somewhat slim & in the very very unlikely scenario that it is the case KT & DB would still barely have covered their existing loans - frankly its all becoming a non story fanned by people with agendas  of unknown objectives.

Do you know anything about 5USPORT or where their money came from in the first instance?
I don't.
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« Reply #297 on: July 07, 2021, 17:55:20 pm »

Mate, we are on a thread called "New Trust Statement on Club Finances".

I'm digging below the surface of what the Trust are saying into the detail to be better informed and maybe help some others to be as well.  Frankly I had to read the Trust statement 3 times to even get my head round what was being said and even now I'm not quite sure what they are accusing the owners of having done...if anything at all?  That in itself is a problem and even now I see people including yourself posting incorrect versions of what the trust actually said.

As I said before people including myself need to be taken on a journey.  If KT is another DC tell me why and prove it.  Don't come to me in two years time saying I told you so which is what some people seem to be setting themselves up to do.
I'm not sure they are accusing the owners of anything? They have outlined for all those transactions they feel are relevant to the situation moving forwards so people like you can draw their own conclusions. Why are they mercilessly criticised for doing so? They havent commented on their own statement beyond that so far as I can tell. They have also withdrawn their support for the 'deal'.
Im not sure of the election process for Trust board members (even though I'm a member, but I dont blame the Trust for that I blame my own apathy, I could easily find out if I needed to) but i know they are there to represent their members in the same way my MP represents me in parliament. For those that have an issue with this then they can exercise options including leaving the Trust if they are existing members, standing for election to the board to affect policy change from within or voting members of the board off the board.
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« Reply #298 on: July 07, 2021, 18:59:13 pm »

Do you know anything about 5USPORT or where their money came from in the first instance?
I don't.
Around the time of the proposed investment, the Chinese government changed some local controls on overseas sports investments, as 5USport were not a big player, its likely that they had to get the money back to the PRC. I think Singcob mentioned something about this previously.
The rich in China are using many ways to get money out of the country in various ways, thus the cap by the Commies.
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« Reply #299 on: July 07, 2021, 19:03:49 pm »

I'm not sure they are accusing the owners of anything? They have outlined for all those transactions they feel are relevant to the situation moving forwards so people like you can draw their own conclusions. Why are they mercilessly criticised for doing so? They havent commented on their own statement beyond that so far as I can tell. They have also withdrawn their support for the 'deal'.
Im not sure of the election process for Trust board members (even though I'm a member, but I dont blame the Trust for that I blame my own apathy, I could easily find out if I needed to) but i know they are there to represent their members in the same way my MP represents me in parliament. For those that have an issue with this then they can exercise options including leaving the Trust if they are existing members, standing for election to the board to affect policy change from within or voting members of the board off the board.
They outlined the process in the questions I put to them elsewhere on the forum CJ. There is no vehicle for voting people off the board as such as far as I can tell. To become a member of the board you need to be proposed and seconded I think and that’s it? It’s all very above board and respectable, but you can’t get away from the fact that during my joining the Trust I had about 4 communications including delivery of my membership card. In the years that have followed I have not received a direct unsolicited communication despite providing my contact details etc. As a result I have never had the opportunity to endorse any candidates etc. At the moment the Trust share that distinction in my life with North Korea. Bit unkind but it does annoy me, especially when you read the new mission statement whilst considering this fact.
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