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New Trust statement on club finances

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GrangeParkCobbler
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« Reply #400 on: July 17, 2021, 17:28:55 pm »

It's all those uncertainties though isn't it? He could equally have finished the stand as soon as he arrived and still be waiting for permission from the council to do the surrounding redevelopment, he'd just be much deeper in the hole while trying to do it.

Some people are in cloud cuckoo land. I'd love to know if they'd spùnk their own money so freely and so frivolously!

I thought the stand, the boxes and the conferencing/banqueting rooms etc would be a little goldmine....we could have had 6 years of "24-7" operations by now.......
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« Reply #401 on: July 17, 2021, 17:42:57 pm »

It's all those uncertainties though isn't it? He could equally have finished the stand as soon as he arrived and still be waiting for permission from the council to do the surrounding redevelopment, he'd just be much deeper in the hole while trying to do it.

Some people are in cloud cuckoo land. I'd love to know if they'd spùnk their own money so freely and so frivolously!

Yes but maybe most of the speculation on here is just that, maybe. Nobody knows what might have happened or actually what will happen. Probably not a lot, maybe.
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« Reply #402 on: July 17, 2021, 18:21:37 pm »

I thought the stand, the boxes and the conferencing/banqueting rooms etc would be a little goldmine....we could have had 6 years of "24-7" operations by now.......

They will help, but I suspect the ROI on the build will be over many years!
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« Reply #403 on: July 17, 2021, 19:43:39 pm »

But did he though?

I remember him saying that they had that money after they come in. But are you sure it was a qualifying criteria to get ownership?

I assume this is a wind up quote, you know damn well it was the reason he got the club for a £1 with NBC wiping off the £10m

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« Reply #404 on: July 17, 2021, 19:51:41 pm »

It's all those uncertainties though isn't it? He could equally have finished the stand as soon as he arrived and still be waiting for permission from the council to do the surrounding redevelopment, he'd just be much deeper in the hole while trying to do it.

Some people are in cloud cuckoo land. I'd love to know if they'd spùnk their own money so freely and so frivolously!

AGAIN, part of the deal to control the club was as he said he would finish the East Stand and had £4m ring fenced. You have to also remember that there was a lot of heat around NBC at the time and the East stand needed to be finished. It wasn't a case of i will do it in 8 years time, also KT said they expected to be here about 5 years.

To grow businesses you have to invest, most of the time you pay up front and hope you earn a return. Nobody forced KT to be involved, he said he would do one thing and didn't bother. He received £6.7m for the club and retained ownership and STILL didn't want to invest that money into the club (although they did put in some after bring in some players as they thought the Chinese would be in charge and picking up the bill)
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« Reply #405 on: July 17, 2021, 20:03:25 pm »

AGAIN, part of the deal to control the club was as he said he would finish the East Stand and had £4m ring fencedWith no time line.. You have to also remember that there was a lot of heat around NBC at the time and the East stand needed to be finished. It wasn't a case of i will do it in 8 years time, also KT said they expected to be here about 5 years. Maybe we should be thankful that they are here longer then that

To grow businesses you have to invest, most of the time you pay up front and hope you earn a return. Nobody forced KT to be involved, he said he would do one thing and didn't bother. He received £6.7m for the clubwhere do you get this from? This is just a trust insinuation and retained ownership and STILL didn't want to invest that money into the club (although they did put in some after bring in some players as they thought the Chinese would be in charge and picking up the bill)Fúck me the blinkered view of some people astounds me

« Last Edit: July 17, 2021, 20:06:51 pm by singcobb » Report Spam   Logged
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« Reply #406 on: July 17, 2021, 20:04:38 pm »

But it wouldn't be 6m it would be 10m, or do you think that the 4m ringfenced money would be a gift?

No I am saying that if we were £6m in debt and that included a developed East stand then fine.

You really think the club should be £6m in debt?  Perhaps it is that badly run that we have to pay players, managers and coaches a fortune to even come here

So if you were an agent, what reason would you want your player to come to NTFC? Because I know I wouldn't. The only possible reason is that he would be overpaid and we are centrally located so commuting might be easier. Dont think they would care to much that we had a good away following and had potential to do much better.

I wouldn't recommend my player here as (in no particular order)

1. The management / owners are not here and live 3000+ miles away
2. The ground is small and only 3.5 sides.
3. The club doesn't have it's own training facilities and train in public
4. The hospitality area is embarrassing and no corporate boxes
5. The club / owners have financial scandal in its past and rumours of one now
6. The club does not recognised it's own Supporters Trust
7. The club has a poor history in selling players
8. The club has possibly signed the highest number of players in the league over the last 12 years
9. The club has employed one of the highest number of managers in the last 12 years.
10, The owners have no plans and no ambitions for the football club and are embroiled in a land deal with the local council

I could go on but you get the idea.
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« Reply #407 on: July 17, 2021, 20:08:39 pm »



The £6.7m is NOT a Trust insinuation, it is fact, they do have evidence. Also the story was first reported by a National journalist

OK I have a blinkered view you think, why not but YOUR view then, go on just for once, someone tell me why KT / DB deserved to own and run our football club

If you were a football agent, why would you want your player at NTFC?
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« Reply #408 on: July 17, 2021, 20:14:45 pm »

No I am saying that if we were £6m in debt and that included a developed East stand then fine.

You really think the club should be £6m in debt?  Perhaps it is that badly run that we have to pay players, managers and coaches a fortune to even come here

So if you were an agent, what reason would you want your player to come to NTFC? Because I know I wouldn't. The only possible reason is that he would be overpaid and we are centrally located so commuting might be easier. Dont think they would care to much that we had a good away following and had potential to do much better.

I wouldn't recommend my player here as (in no particular order)

1. The management / owners are not here and live 3000+ miles awayI don't give a shít where they live
2. The ground is small and only 3.5 sides.And we still can't fill that
3. The club doesn't have it's own training facilities and train in publicwho gives a shít
4. The hospitality area is embarrassing and no corporate boxessee above
5. The club / owners have financial scandal in its past and rumours of one nowbe very careful where you go from here
6. The club does not recognised it's own Supporters TrustI would not trust them to go and get me a puzza from Dominos without them changing the toppings to suit their taste.
7. The club has a poor history in selling playersWell fúck my tall hat, blame that on the managers not the owners
8. The club has possibly signed the highest number of players in the league over the last 12 yearsThis shows that the owners are prepared to spend money when required
9. The club has employed one of the highest number of managers in the last 12 years.See above
10, The owners have no plans and no ambitions for the football club and are embroiled in a land deal with the local councilAnd you know this how?

I could go on but you get the idea.
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« Reply #409 on: July 17, 2021, 20:18:18 pm »

Here is the Daily Mail report:

https://www.dailymail.co.uk/sport/football/article-4742848/Northampton-Town-new-Chinese-investment.html

Also read between the lines and ask why was the deal done off-shore?  Also why would the Chinese pay over £6m for a club (and club only) that the owners acquired just 2 years before for £1 and £166k VAT bill to pay? Also how would a business turning over less than £1m, with 4 employees, have £6m to invest in a small football club not worth investing in (according to KT)

It's in black and white, Singcobb is that proof enough for you, sorry KT / DB would give me access to their bank accounts and business dealings to confirm this.

Also KT is very quick (and his staff) to issue PR statements regarding the rights and wrongs etc, yet has never once issued a statement denying this or that the money was paid back.
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« Reply #410 on: July 17, 2021, 20:22:08 pm »

10, The owners have no plans and no ambitions for the football club and are embroiled in a land deal with the local councilAnd you know this how?

OK you explain our owners plans and ambitions for the football club........

Please believe me I want our owners to have a plan, to develop our club, to build on the community, to have some success on the pitch that isn't a flash in the pan etc etc etc but again after a cheap promotion we are back in League 2 and already mid table in the eyes of the bookies.

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« Reply #411 on: July 17, 2021, 20:23:47 pm »

 The club does not recognised it's own Supporters TrustI would not trust them to go and get me a puzza from Dominos without them changing the toppings to suit their taste.

I wouldn't trust our owner to even order the pizza although you might say, yeah he has but he didn't say what year it would be delivered
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« Reply #412 on: July 17, 2021, 20:28:26 pm »

The ground is small and only 3.5 sides.And we still can't fill that

and whose fault do you think that is?  we have a population of 236000 the biggest in League 2 without another side in the immediate area and we can't fill the smallest ground in the League of any club established over 50 years

Ask yourself, sure you have friends, family etc who no longer go to watch NTFC, why is that, what is their reason they don't go back?

IF we were top of The Championship, how many of them would be going?

Where are the 7000 who went to MK?  Why do they not go every game? 
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« Reply #413 on: July 17, 2021, 20:33:51 pm »

Alright, we get it Random, the Trust can do no wrong, the club can do no right. You can stop now.
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« Reply #414 on: July 17, 2021, 20:42:39 pm »

I have been very critical of the Trust in the past.

Why not post some evidence where the Trust are wrong or that I have KT all wrong and he is great for NTFC  because no one ever does
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« Reply #415 on: July 17, 2021, 20:45:21 pm »

The ground is small and only 3.5 sides.And we still can't fill that

and whose fault do you think that is?  we have a population of 236000 the biggest in League 2 without another side in the immediate area and we can't fill the smallest ground in the League of any club established over 50 years

Ask yourself, sure you have friends, family etc who no longer go to watch NTFC, why is that, what is their reason they don't go back?

IF we were top of The Championship, how many of them would be going?

Where are the 7000 who went to MK?  Why do they not go every game? 
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« Reply #416 on: July 17, 2021, 20:59:30 pm »

I have been very critical of the Trust in the past.

Why not post some evidence where the Trust are wrong or that I have KT all wrong and he is great for NTFC  because no one ever does

Why not email the EFL, and give them the full heads up, reports etc..they are trying to crack down on rouge owners now.
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« Reply #417 on: July 17, 2021, 21:07:00 pm »



100 years. Not disagreeing with most of anything else you’ve posted though, just highlighting it’s even more embarrassing for us, even though there are many who don’t see it. Yes I’m happy to still have a league club to support and yes would still support us on the Racecourse etc etc, although we’d be in the Town league and I doubt if any former league club has actually fallen that far. We’ve had several chances to better ourselves over the years but be it the council or numerous allegedly rogue owners, we are still in the same/worse position we’ve ever been......for over 100 years.
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« Reply #418 on: July 17, 2021, 22:24:57 pm »

We are still left with the assumption that an organisation paid over 6 million into an off shore account on the instructions of a UK based company to gain a majority share holding. Got nothing and walked away without a single legal challenge or application when it would be a piece of cake to do so once demonstrated the funds transfer took place. Additionally the funds would be an asset of the club that they would be legally obliged to declare irrespective of the location of those funds. In the event it wasn’t declared and 5U Sport made a legal challenge, the transaction would be revealed and the owners are in the position of explaining potential evasion to the HMRC. That’s what the suggestion is, is it? People are free to make up their own minds obviously but which is more likely, the above or the money never got paid in the first place?

I should point out again that in the event the money was paid and the owners took it as a personal payment they would be liable for the personal tax liability in their country of residence. Had they have took the money as a payback on their shareholders loans their would be no tax at all. The top rate of tax in the US is just under 40% and the UAE is just over 50%. So assume if this was the case they would have copped for about just over half so they ended up with about 3.5million less legal and bank fees etc. Again if it was paid off against the loan they would have got the lot.

Put the 2 together and ask yourself which is the most likely assuming everything is legal and above board. Again unless someone is going to go on the record and state it wasn’t?

By the way if it is the latter scenario then they haven’t ended up with over 6 million clearing the debt so the conspiracy theorists need to redo their sums.
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« Reply #419 on: July 17, 2021, 22:27:28 pm »

We are still left with the assumption that an organisation paid over 6 million into an off shore account on the instructions of a UK based company to gain a majority share holding. Got nothing and walked away without a single legal challenge or application when it would be a piece of cake to do so once demonstrated the funds transfer took place. Additionally the funds would be an asset of the club that they would be legally obliged to declare irrespective of the location of those funds. In the event it wasn’t declared and 5U Sport made a legal challenge, the transaction would be revealed and the owners are in the position of explaining potential evasion to the HMRC. That’s what the suggestion is, is it? People are free to make up their own minds obviously but which is more likely, the above or the money never got paid in the first place?

I should point out again that in the event the money was paid and the owners took it as a personal payment they would be liable for the personal tax liability in their country of residence. Had they have took the money as a payback on their shareholders loans their would be no tax at all. The top rate of tax in the US is just under 40% and the UAE is just over 50%. So assume if this was the case they would have copped for about just over half so they ended up with about 3.5million less legal and bank fees etc. Again if it was paid off against the loan they would have got the lot.

Put the 2 together and ask yourself which is the most likely assuming everything is legal and above board. Again unless someone is going to go on the record and state it wasn’t?
There was a legal challenge.
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