robsterwood Posted June 10 Report Share Posted June 10 That will be a no then. Does not get close to how an agreement should look to us fans. I wil be voting no. Quote Link to comment Share on other sites More sharing options...
FirParkCornerExile Posted June 10 Report Share Posted June 10 I really want to see what the WS are offering. Quote Link to comment Share on other sites More sharing options...
robsterwood Posted June 10 Report Share Posted June 10 Are we sure that offer wasn't for The Rex chip shop? 😕 Quote Link to comment Share on other sites More sharing options...
steelboy Posted June 10 Report Share Posted June 10 4 minutes ago, FirParkCornerExile said: I really want to see what the WS are offering. The Well Society don't have to offer anything. They will just keep running the club and trying to increase cash flow. Quote Link to comment Share on other sites More sharing options...
Cameron_Mcd Posted June 10 Report Share Posted June 10 @steelboy Quote Link to comment Share on other sites More sharing options...
StAndrew7 Posted June 10 Report Share Posted June 10 Absolutely feeling the sentiment of all. Get this offer thrown into the fucking sea where it belongs. Quote Link to comment Share on other sites More sharing options...
GawnUpBy? Posted June 10 Report Share Posted June 10 Just now, StAndrew7 said: Absolutely feeling the sentiment of all. Get this offer thrown into the fucking sea where it belongs. And hopefully the offer takes McMahon & Dickie with it. Quote Link to comment Share on other sites More sharing options...
smeddum07 Posted June 10 Report Share Posted June 10 3 minutes ago, steelboy said: The Well Society don't have to offer anything. They will just keep running the club and trying to increase cash flow. But they have shown zero actual ability to increase cash flow and as the statement says relegation would be curtains for the club and without Kettlewell we would have gone down this year. Invested in well society since the start and get pretty much nothing back. This is serious money coming into the club (haven’t heard of any other offers) while keeping the assets defended. dont want to hear anyone complaining about signings or us just spinning our wheels if this is rejected. 2 Quote Link to comment Share on other sites More sharing options...
Yoshi-1991 Posted June 10 Report Share Posted June 10 50 minutes ago, FirParkCornerExile said: I'm sorry but raffles, tombola's and WS quiz nights don't do it for me as our fund raising opportunities. If they have something thats better I'll happily reject. If they dont I'll consider the investment offer. As long as the assets of the club are protected (ie, the ground) I'm open to be convinced. Far too sensible for this place. 1 Quote Link to comment Share on other sites More sharing options...
StAndrew7 Posted June 10 Report Share Posted June 10 3 minutes ago, GawnUpBy? said: And hopefully the offer takes McMahon & Dickie with it. The Outgoing Chairman will be gone. If this fails (as it should, imho) then I imagine several others will have no choice but to resign. Quote Link to comment Share on other sites More sharing options...
texanwellfan Posted June 10 Report Share Posted June 10 2 minutes ago, smeddum07 said: But they have shown zero actual ability to increase cash flow and as the statement says relegation would be curtains for the club and without Kettlewell we would have gone down this year. Invested in well society since the start and get pretty much nothing back. This is serious money coming into the club (haven’t heard of any other offers) while keeping the assets defended. dont want to hear anyone complaining about signings or us just spinning our wheels if this is rejected. I don’t consider 2 million over 6 years as serious money but maybe that’s just me. 3 Quote Link to comment Share on other sites More sharing options...
StirlingDosser Posted June 10 Report Share Posted June 10 I understand the apprehension but the reality of the Well Society is summed up here. Today's details have not come out the blur yet here they are once again asking the fans to trust them to come up with an alternative AFTER they vote against the only offer on the table. For me it's all a tale of too little too late from the WS...the organisation have done absolutely nothing of note since taking the majority shareholding and are now all talk when that position is put up for debate. I would back this if I had a vote for the simple reason it diversifies the ownership and this is more income than the club is likely to get from the society. The clubs assets aren't touchable which will therefore of impacted the value whilst also giving some security. It may not be the big money but certainly it's bringing in some investment and some expertise. 3 Quote Link to comment Share on other sites More sharing options...
FirParkCornerExile Posted June 10 Report Share Posted June 10 9 minutes ago, texanwellfan said: I don’t consider 2 million over 6 years as serious money but maybe that’s just me. Well yes that is correct but that's only the money to acquire the club. The expectation is their business model will generate far more cash than we currently generate. Whether that happens or not who knows, but the £2 million is the purchase price not the expected cash generation, and that's the problem. Neither the Well Society or Investment team can tell us what they will generate. If the new investors could generate serious money it could be worth it. However that cannot be guaranteed. The WS are unlikely to come up with anything that generates serious money or they'd have done it before now surely. Some fans will be happy at that as they see it as no risk plodding along. You pay your money you takes your choice. 1 Quote Link to comment Share on other sites More sharing options...
bobbybingo Posted June 10 Report Share Posted June 10 4 minutes ago, StirlingDosser said: It may not be the big money but certainly it's bringing in some investment and some expertise. What expertise in running a football club is it bringing in? Quote Link to comment Share on other sites More sharing options...
wellfan Posted June 10 Report Share Posted June 10 3 minutes ago, StirlingDosser said: I understand the apprehension but the reality of the Well Society is summed up here. Today's details have not come out the blur yet here they are once again asking the fans to trust them to come up with an alternative AFTER they vote against the only offer on the table. For me it's all a tale of too little too late from the WS...the organisation have done absolutely nothing of note since taking the majority shareholding and are now all talk when that position is put up for debate. I would back this if I had a vote for the simple reason it diversifies the ownership and this is more income than the club is likely to get from the society. The clubs assets aren't touchable which will therefore of impacted the value whilst also giving some security. It may not be the big money but certainly it's bringing in some investment and some expertise. This view is fair enough, but I don't think selling the majority ownership of the Club (or diversifying the ownership, as you put it) for less than the value of Lennon Miller, for example, is anywhere close to being acceptable. Just because the Well Society has been shite for a while doesn't mean the Club should be sold to the lowest bidder. I'm also all for diversifying the ownership, but that would only be if a transformative offer is on the table, which it is not. Quote Link to comment Share on other sites More sharing options...
Throughthelaces Posted June 10 Report Share Posted June 10 I’ll vote for it for the simple reason I love the club and want a competitive team on the field. I’m also unhappy with how directionless the club has been since burrows left and how long our search for a CEO took. If I’m honest I’d be surprised if the well society are voted out but I do want it to be a close enough vote they maybe start getting serious and making changes to our footballing operations for the better. 1 Quote Link to comment Share on other sites More sharing options...
wellgirl Posted June 10 Report Share Posted June 10 17 minutes ago, smeddum07 said: But they have shown zero actual ability to increase cash flow and as the statement says relegation would be curtains for the club and without Kettlewell we would have gone down this year. Invested in well society since the start and get pretty much nothing back. This is serious money coming into the club (haven’t heard of any other offers) while keeping the assets defended. dont want to hear anyone complaining about signings or us just spinning our wheels if this is rejected. Well yeah. People can vote as they please but if the well society are saying no to this - then do they have their own proposal? Sure it was said a couple of months ago they were working on one. Folk need to vote as they see fit. I haven't looked at the statement yet but I'm not going to be voting yes or no based on what the well society think or be influenced over what folks on social media think. Quote Link to comment Share on other sites More sharing options...
FirParkCornerExile Posted June 10 Report Share Posted June 10 Just now, wellgirl said: Well yeah. People can vote as they please but if the well society are saying no to this - then do they have their own proposal? Sure it was said a couple of months ago they were working on one. Folk need to vote as they see fit. I haven't looked at the statement yet but I'm not going to be voting yes or no based on what the well society think or what folks elsewhere think. A reasonable response. Quote Link to comment Share on other sites More sharing options...
Kmcalpin Posted June 10 Author Report Share Posted June 10 1 hour ago, steelman1991 said: Whats' equally worrying is that 3 of the WS Board actually voted to accept this pile of shit. Having skimmed through Jim McMahon's statement and the Well Society email, I'm equally baffled by both, for different reasons. I raised the issue of potential conflict of interest some time ago, but no one bar a couple of posters (and they know who they are) seemed to think it an issue. Quote Link to comment Share on other sites More sharing options...
wellfan Posted June 10 Report Share Posted June 10 People aren't trying to influence others here. Those who have taken the time, or had the time, to read and consider the details of both the Club's press release on the proposals and the Well Society's response are expressing their informed opinions. Vote as you like, but at your (the Club's) peril. 1 Quote Link to comment Share on other sites More sharing options...
wellup83 Posted June 10 Report Share Posted June 10 We have to look beyond the money here. The Barmacks are and were never going to be a sugerdaddy to the club, bankrolling us with millions of pounds year in year out. What this is is an opportunity to open new avenues to selling the club home and abroad with the purpose of generating new fans and investment in a safe and sustainable way. The Barmacks have the knowledge and platforms to do just that. With the welfare and assets of the club protected and safeguarded I don't see what we've got to lose. 1 Quote Link to comment Share on other sites More sharing options...
StAndrew7 Posted June 10 Report Share Posted June 10 Having calmed down a bit after my initial outrage with this offer, there are a few things that initially stick out for me: Barmack has said he's already been approached by a TV channel about a docu-series based on the club; great! Let's do that and prove that the business model/ideas that he has works and then start to talk again, but without McMahon at the top. The fact the WS are being put in the position of potentially draining their cash reserves (the very reserves the Chairman said were needed every year to guarantee the operations of the club) to support buyback of shares in 2 years time (as well as continue to add to the club at £100k/year), should, in my eyes, be a big red flag. As should EB immediately receiving 3 seats and chairmanship with the casting vote of the Executive Board after taking 8% of the shares for £300k. It's pure folly. Quote Link to comment Share on other sites More sharing options...
GawnUpBy? Posted June 10 Report Share Posted June 10 13 minutes ago, Throughthelaces said: I’ll vote for it for the simple reason I love the club and want a competitive team on the field. I’m also unhappy with how directionless the club has been since burrows left and how long our search for a CEO took. If I’m honest I’d be surprised if the well society are voted out but I do want it to be a close enough vote they maybe start getting serious and making changes to our footballing operations for the better. Do you reckon we’re going to turn into prime Barcelona after Barmacks initial 300k? Wake up. The club has been directionless because of one man. Jim McMahon. I was going to say he single-handedly held the club back for years, but his cronies Feely & Dickie have had a say in things too. Quote Link to comment Share on other sites More sharing options...
Kmcalpin Posted June 10 Author Report Share Posted June 10 10 minutes ago, wellgirl said: People can vote as they please but if the well society are saying no to this - then do they have their own proposal? Sure it was said a couple of months ago they were working on one. Folk need to vote as they see fit. I haven't looked at the statement yet but I'm not going to be voting yes or no based on what the well society think or be influenced over what folks on social media think. 100% agree. Rather naively, I assumed that both proposals would be made available at the same time. Quote Link to comment Share on other sites More sharing options...
robsterwood Posted June 10 Report Share Posted June 10 Is there a counter offer from Well society to Barmacks? 1 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.