Now the club is debt free.......

Richinns · Post by **Richinns** » 12 Mar 2015, 11:52

It seems some of the remaining board members might now want a bit of it!

(Bottom paragraph):
http://www.torquayheraldexpress.co.uk/T ... z3UAgWZIZU
"United are talking to at least one group of potential buyers, while some of the club's remaining seven directors could get together to make a bid and the fledgling Torquay United Supporters' Trust have also made a place on the board one of their main future aims.

kevgull · Post by **kevgull** » 12 Mar 2015, 12:08

Richinns wrote:It seems some of the remaining board members might now want a bit of it!

(Bottom paragraph):
http://www.torquayheraldexpress.co.uk/T ... z3UAgWZIZU
"United are talking to at least one group of potential buyers, while some of the club's remaining seven directors could get together to make a bid

Vultures!

Sunnysideup · Post by **Sunnysideup** » 12 Mar 2015, 14:21

Jaw dropping indeed....

Post by **Southampton Gull** » 12 Mar 2015, 14:57

Can't help but find that distinctly disgusting. I would hope that Thea's advisors tell them where to put their bid as if they have the money to buy the club from her one has to ask why they couldn't put their hands in their pockets recently when it was needed.

Richinns · Post by **Richinns** » 12 Mar 2015, 15:28

Southampton Gull wrote:Can't help but find that distinctly disgusting. I would hope that Thea's advisors tell them where to put their bid as if they have the money to buy the club from her one has to ask why they couldn't put their hands in their pockets recently when it was needed.

Exactly my thoughts. Such poor form. I would not want them to lead us forward as to date these guys have done little more than pick up a free season ticket whilst seeing Thea's money slowly drain away without any inclination to help out.

Post by **Scott Brehaut** » 12 Mar 2015, 15:35

Southampton Gull wrote:Can't help but find that distinctly disgusting. I would hope that Thea's advisors tell them where to put their bid as if they have the money to buy the club from her one has to ask why they couldn't put their hands in their pockets recently when it was needed.

Probably got this wrong, but I thought that all those on the Board currently HAD put money into the club (albeit, nowhere near the amounts that Thaea has), and that those that left didn't/couldn't, which is why they went.

tomogull · Post by **tomogull** » 12 Mar 2015, 16:53

Scott Brehaut wrote: Probably got this wrong, but I thought that all those on the Board currently HAD put money into the club (albeit, nowhere near the amounts that Thaea has), and that those that left didn't/couldn't, which is why they went.

I don't know the ins and outs about who has, or who has not, invested money in the club. What I do know is that Thea had said she felt isolated (i.e. lack of support from her fellow directors), hence her decision to ask for help from Kelvin Thomas who seems to be a good guy, despite my initial suspicions. It leaves a nasty taste that these 'Magnificent ??' Seven (or as Kevgull says - vultures) could step in with a bid after Thea has left the club debt free so I very much agree with SG on this one.

Post by **Colorado Gull** » 12 Mar 2015, 16:59

So Thea has been funding our club, all by herself, baring in mind she isn't a business woman and has said that she will leave the club debt free and now seven of our directors are thinking about coming together and making a bid!? Who the hell do you think you are? If you really cared about the club, you would have helped when we (and Thea) needed it. Disgusting.

Post by **Scott Brehaut** » 12 Mar 2015, 17:00

Don't get me wrong, I don't want any of them swooping in and getting the club for nothing due to Thaea wiping away the debt - a clean slate is needed - but I wanted to check if they had put their hands into the pockets or not.

Sunnysideup · Post by **Sunnysideup** » 12 Mar 2015, 17:37

Scott Brehaut wrote:Don't get me wrong, I don't want any of them swooping in and getting the club for nothing due to Thaea wiping away the debt - a clean slate is needed - but I wanted to check if they had put their hands into the pockets or not.

I'm sure [s]someone[/s] SG will be along soon to identify who has and hasnt =D

Does strikethrough not work anymore Mods?

BayGull · Post by **BayGull** » 12 Mar 2015, 17:53

Scott Brehaut wrote:Don't get me wrong, I don't want any of them swooping in and getting the club for nothing due to Thaea wiping away the debt - a clean slate is needed - but I wanted to check if they had put their hands into the pockets or not.

I don't think anyone will get the club for nothing mate!

Thea will doubtless be acting on the advice of her financial advisers .. it is unlikely she will just wipe £3million off the slate, more likely it will be turned into shares and divided into club assets - which will leave her still having ownership of other things at the club.

Leaving the club debt free does not mean she has written a £3million cheque and walked away with nothing!

As for the other directors - they should be ashamed if they think they will get the club for nothing ... being debt free today is like a Windows update .. it only lasts for a matter of hours!!

hector · Post by **hector** » 12 Mar 2015, 22:57

People shouldn't read, into this 'debt-free' misnomer, anything especially positive. Why is the club in so much debt to Thea? Because it couldn't function if it wasn't. Yet that support still only sees us as a mediocre non-league team. If Thea is putting in a reported 2k a week, that is merely to supplement essential running costs.

It may be that Thea has reset the clock to zero but as soon as it starts ticking again, simply to maintain what we are now, we would need Thea's 2k p/w. It won't be long before that debt builds up again but this time with no one to bail us out. So to avoid that need to rely on a benefactor, deep cuts are required. Don't think for one minute things are about to get easier and better. They are more likely to get much worse.

Rjc70 · Post by **Rjc70** » 13 Mar 2015, 01:45

Scott Brehaut wrote:Don't get me wrong, I don't want any of them swooping in and getting the club for nothing due to Thaea wiping away the debt - a clean slate is needed - but I wanted to check if they had put their hands into the pockets or not.

All the information is in past accounts. I've seen them published on another forum, but fairly sure all have put a fair chunk in, with the exception of Bill Phillips, who is a volunteer.

I'm not sure the four most recent departing Directors departed for the reasons I've read on here. Think there may have been more to it than 'unable/unwilling to put additional sums in.' Like most, I am a massive fan of the generosity and decency shown by the Bristow family to TUFC. I
don't mind saying that I have not been a big fan of Thea Bristow's chairmanship, as it has coincided with decline. I don't think she has been a big fan of it either, reading her statement. It's clearly not what she set out to do in the first place.

The possible truly debt free position is again something to be grateful for, albeit there is a massive cash void that needs filling and for the sake of the Club, I really don't mind at all if existing Directors or a viable alternative are able to now fill it. It's all we can wish for in our position, really. It would be nice if the fans' TUST were able to meaningfully add each year to the soon to diminish pot, but that depends largely on people now joining. And in good numbers. If any were considering doing so before Thea's announcement and hadn't got around to it, then I really hope the next step is now taken to aid in some small part the Club's continued existence at a decent level.

I quite like the idea of filling Bristow's Bench for the last match. Recognising her and Paul Bristow's financial contribution is a decent thing to do. And they were and have been nothing but decent when it comes to our Club.

taxilady · Post by **taxilady** » 13 Mar 2015, 08:37

agreed Rjc70. If any of you listen to the Herald podcast, they were saying yesterday that Paul Bristow's dream had been to take TUFC to League One; so Thea's disappointment with the current situation must be the same as ours ( even if she has had to preside over a regime that many hold responsible for said situation).
Can't see anything against joining TUST myself. We moan about the Board, so let's get a seat on it if we can ! It's £ 2 a month to join, or £ 24 for the year; & there's a lottery at £ 5 a month, with a guaranteed first prize of at least £ 250.

PlainmoorRoar · Post by **PlainmoorRoar** » 13 Mar 2015, 09:13

I'm sorry but those existing members do not deserve any place on any new board, what right do they have?

They had a chance to help a lady who so generously has put in £3m into the football club. They are the ones who are meant to have some 'business acumen' and should have been there to guide the investment to the best sources.

Have they done this? Clearly not.

For Thea to say that she is 'lonely' in her role shows the contempt the other board members have for her, and when its got tough they clearly haven't provided any financial assistance ( even small amounts ). The need for her to ask Kelvin Thomas to help her is all the proof that is needed!

For the situation to now have an affect on her health is unnacceptbal and she is making the correct decision,

Shame on those other board members,

There's one only Thea Bristow.

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