Re: Consortium bidding for Wrexham
 

[QUOTE=Todd Sweeney;2229390]Indeed. Bryn Law was asked about this on Twitter. He essentially said that this group is unwilling to agree to the terms that the members voted for in order to talk to the club.[/QUOTE]

What sign a NDA and put a £5k bind in place for reasonable costs. What a joke! They must have been really wealthy serious investors then. Lol

Re: Consortium bidding for Wrexham
 

[QUOTE=Red_Jackoisback;2229398]What sign a NDA and put a £5k bind in place for reasonable costs. What a joke! They must have been really wealthy serious investors then. Lol[/QUOTE]

They've been advised by their legal team not to sign any such agreement's, Bryn Law says they're genuine.

Re: Consortium bidding for Wrexham
 

[QUOTE=GiggityGiggityGiggityGoo;2229486]They've been advised by their legal team not to sign any such agreement's, Bryn Law says they're genuine.[/QUOTE]

Hard to see what would frighten a potential serious investor if this is the conditionality

Re: Consortium bidding for Wrexham
 

[QUOTE=Red_Jackoisback;2229398]What sign a NDA and put a £5k bind in place for reasonable costs. What a joke! They must have been really wealthy serious investors then. Lol[/QUOTE]

It's 50k

[QUOTE=Hightown Brymbo Red;2229493]It's 50k[/QUOTE]

What? Its a 50k bill just to enter negotiations???

5k I understand for out of pocket expenses
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Re: Consortium bidding for Wrexham
 

[QUOTE=krux;2229495]What? Its a 50k bill just to enter negotiations???

5k I understand for out of pocket expenses
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Sure that Lindsey Jones brought a resolution forward last Summer...Just to make it difficult

[QUOTE=Hightown Brymbo Red;2229493]It's 50k[/QUOTE]

It’s 5k, and the resolution was brought by the trust, resolution f

http://wst.org.uk/www3/index.php/component/k2/item/5333-wst-agm-election-and-resolution-results
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Re: Consortium bidding for Wrexham
 

[QUOTE=krux;2229495]What? Its a 50k bill just to enter negotiations???

5k I understand for out of pocket expenses
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Would not be surprised at £50k as it means the WST would never have to consider an offer so would never have to inform the members of anything.

If it’s £5k and refundable then fair enough but even to charge anything for initial talks is a farce and shows they hope never have to consider a genuine offer. Can someone confirm this as this has made me question my membership more than anything I’v heard in the last few weeks and least that’s not been bad enough.

Re: Consortium bidding for Wrexham
 

Please tell me the Steve Morgan one is bollocks. He could get us to the premier league ffs

[QUOTE=standman;2229506]Would not be surprised at £50k as it means the WST would never have to consider an offer so would never have to inform the members of anything.

If it’s £5k and refundable then fair enough but even to charge anything for initial talks is a farce and shows they hope never have to consider a genuine offer. Can someone confirm this as this has made me question my membership more than anything I’v heard in the last few weeks and least that’s not been bad enough.[/QUOTE]

See the link in my post directly above yours! It’s £5k, WST members voted it through, only 2 people voted against it!
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Re: Consortium bidding for Wrexham
 

[QUOTE=Hightown Brymbo Red;2229497]Sure that Lindsey Jones brought a resolution forward last Summer...Just to make it difficult[/QUOTE]

If it is 'difficult' to pass the five grand bar then the bar has done the job surely?

I have posted before about the disengagement of fans, but it is all here in black and white and probably in various inboxes and doormats historically [url=http://wst.org.uk/www3/index.php/component/k2/item/5333-wst-agm-election-and-resolution-results]WST AGM ELECTION AND RESOLUTION RESULTS[/url]

Lack of engagement is how we have kept the dragon and rockin robin is fritzl'ed away somewhere waiting to fly free to promotion :D

Re: Consortium bidding for Wrexham
 

This is the procedure set-out in the resolution:

[QUOTE]1 Approach to Society Board

2 Signing of a Non-Disclosure Agreement (NDA)

3 Initial Meeting with investor(s) - [I][The initial meeting objective is to generate the understanding of the investor(s) intentions & proposal including funding model & vehicle(s) to do it][/I]

4 Trust Board Review the investment proposal

5 Covering expenditure of the Society and its representatives - [I][At this point to ensure that any investment approach is genuine, the Society Board is to require a deposit of [B]£5,000[/B] from the investor(s)][/I]

6 Follow up meeting with investor(s) - [I][Note: steps 4 and 6 may be an iterative process until the Society Board is satisfied that it understands the intention of the investor(s) and their funding model][/I]

7 Proof of funding & Business Plan

8 Society Board Decision

9 Disclosure of names of investors to membership (if investment vehicle is a company then it will be all the shareholders in any chain of companies)

10 Heads of Terms Agreed

11 Due Diligence at investors cost

12 Society Board to call an extraordinary general meeting (EGM)

13 EGM with presentation by investor(s) & Society Board

14 Enact decision of EGM[/QUOTE]

So does this mean the WST board can talk to any potential investors before the £5k is due, as long as they sign the NDA?

How far did this alleged consortium get? Did they not want to sign the NDA?

Also it says steps 4 - 6 can be iterative.. does that mean the WST can require further deposits?

Re: Consortium bidding for Wrexham
 

Sorry it says steps 4 and 6, not 4 to 6, so that answers my last question.

Re: Consortium bidding for Wrexham
 

I don't want outside investment and I'll vote against it for two reasons.

1. Firstly we're doing fine without it, there are lots of posters blaming the board for the 1st team manager issue. I am looking further than that. We've recovered from rotten ownership and are on the way back. Profit making club, squad getting better, competing in the playoffs.

2. Secondly its not just about who comes in to invest. Its about who comes after that. Who do you trust more to care for the club? Your sons and daughters and grandchildren after you've gone, or a succession of rich benevolent private investors?


Pipe off consortium we're doing fine.

Re: Consortium bidding for Wrexham
 

[QUOTE=standman;2229506]Would not be surprised at £50k as it means the WST would never have to consider an offer so would never have to inform the members of anything.

If it’s £5k and refundable then fair enough but even to charge anything for initial talks is a farce and shows they hope never have to consider a genuine offer. Can someone confirm this as this has made me question my membership more than anything I’v heard in the last few weeks and least that’s not been bad enough.[/QUOTE]

I'm sure Lindsey posted on facebook this week it was his proposal and it is indeed 50k.

Re: Consortium bidding for Wrexham
 

Would signing an NDA be an issue for genuine investors? I can see the benefits of such an agreement to both sides. As a potential investor I'd be keen to keep any plans under wraps until finalised and from the Club perspective, we've already seen how much trouble rumours can cause.

Re: Consortium bidding for Wrexham
 

If an NDA was signed who broke it? Or is that for the LeakGate thread?!

Re: Consortium bidding for Wrexham
 

[QUOTE=sparky;2229522]I'm sure Lindsey posted on facebook this week it was his proposal and it is indeed 50k.[/QUOTE]

It's 5,000 GBP!. It's there in black & white in ABd's post.

Re: Consortium bidding for Wrexham
 

[QUOTE=Rob;2229524]If an NDA was signed who broke it? Or is that for the LeakGate thread?![/QUOTE]

LeakGate. As is mentioned in another post the parties were advised not to pay the 5000 GBP and not to sign an NDA...So instead they've probably helped cause this furore now.

Re: Consortium bidding for Wrexham
 

[QUOTE=International;2229525]It's 5,000 GBP!. It's there in black & white in ABd's post.[/QUOTE]

My bad then. I need go and stalk Lindsey's posts as I'm sure he wrote 50k! Apologies in advance.

Re: Consortium bidding for Wrexham
 

[QUOTE=International;2229528]LeakGate. As is mentioned in another post the parties were advised not to pay the 5000 GBP and not to sign an NDA...So instead they've probably helped cause this furore now.[/QUOTE]

It would be interesting to track the first mention of a consortium over the last 72 hrs as it might indicate if there is a commercial leak internally , or if the person is connected to the 'stooges' as someone else called the prospective bidders.

Re: Consortium bidding for Wrexham
 

[QUOTE=dixienormous;2229511]Please tell me the Steve Morgan one is bollocks. He could get us to the premier league ffs[/QUOTE]

He has no interest in Wrexham fc whatsoever, his ex wife is a fan I’m told but I’m sure she’s not interested either.

Re: Consortium bidding for Wrexham
 

-[QUOTE=Congy Red;2229521]I don't want outside investment and I'll vote against it for two reasons.

1. [B][/B]Firstly we're doing fine without it, [B][/B]there are lots of posters blaming the board for the 1st team manager issue. I am looking further than that. We've recovered from rotten ownership and are on the way back. Profit making club, [B][/B]squad getting better, [B][/B]competing in the playoffs.

2. Secondly its not just about who comes in to invest. Its about who comes after that. Who do you trust more to care for the club? Your sons and daughters and grandchildren after you've gone, or a succession of rich benevolent private investors?


Pipe off consortium [B][/B]we're doing fine[B][/B].[/QUOTE]

Have you been watching games during the last five years?

Re: Consortium bidding for Wrexham
 

[QUOTE=sparky;2229529]My bad then. I need go and stalk Lindsey's posts as I'm sure he wrote 50k! Apologies in advance.[/QUOTE]

He did.

[QUOTE=dixienormous;2229551]-

Have you been watching games during the last five years?[/QUOTE]


He likes a family circus with a big top that's rotting and will cost mega money to replace it.
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Re: Consortium bidding for Wrexham
 

Mystery bidder and a mole - two convenient bogeymen.
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Re: Consortium bidding for Wrexham
 

[QUOTE=Hightown Brymbo Red;2229497]Sure that Lindsey Jones brought a resolution forward last Summer...Just to make it difficult[/QUOTE]

Think its to sort out the wheat from the chaff, makes them jump through a few hoops but if they are genuine not too much hardship.

Re: Consortium bidding for Wrexham
 

NDA's are commonplace in business and I can understand why a club in Wrexham's position would require a deposit of £5k to open negotiation. I would have thought that the £5k would be returned if negotiations broke down at any point.

I'm aware of a negotiation currently taking place for a contract for £9m per year (NOT WREXHAM) that requires an NDA but no down payment to open negotiation.

Each to their own!

Re: Consortium bidding for Wrexham
 

[QUOTE=fezbob;2229566]Mystery bidder and a mole - two convenient bogeymen.
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If you look hard enough, you can see the bidder from the A483;)

[QUOTE=Ddraigoch;2229577]If you look hard enough, you can see the bidder from the A483;)[/QUOTE]

Is this the claim that Moneypenny were involved? Struggle to see it myself.
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Re: Consortium bidding for Wrexham
 

[QUOTE=fezbob;2229583]Is this the claim that Moneypenny were involved? Struggle to see it myself.
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What’s this story then?

Re: Consortium bidding for Wrexham
 

"Maybe there's some truth in the rumour of a consortium lining up to takeover, with a Yorkshire based front man who has been very supportive of the Hughes appointment on twitter."

I think this is he first reference to the takeover rumour above. It was posted at 2pm on Wednesday 6th February. Any ideas on this mystery Yorkshire based front man?

Re: Consortium bidding for Wrexham
 

Who or what is/are Moneypenny?

Re: Consortium bidding for Wrexham
 

[QUOTE=Redrobinman;2229593]Who or what is/are Moneypenny?[/QUOTE]

A call handling company with large premises up past the tax office. A good employer by all accounts.

Re: Consortium bidding for Wrexham
 

[QUOTE=fezbob;2229583]Is this the claim that Moneypenny were involved? Struggle to see it myself.
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Moneypenny ? Begins with an ‘M’ . Sounds too much like Moss for me.

Re: Consortium bidding for Wrexham
 

[QUOTE=Teifi Red;2229591]"Maybe there's some truth in the rumour of a consortium lining up to takeover, with a Yorkshire based front man who has been very supportive of the Hughes appointment on twitter."

I think this is he first reference to the takeover rumour above. It was posted at 2pm on Wednesday 6th February. Any ideas on this mystery Yorkshire based front man?[/QUOTE]

Bryn Law lives in Leeds (or did?).

Re: Consortium bidding for Wrexham
 

[QUOTE=Fozastuta;2229598]Bryn Law lives in Leeds (or did?).[/QUOTE]

The way Bryn Law spoke about this consortium led me to believe he'd instigated the contact and provided them with info about the Club but that was all. He distanced himself from being part of this consortium. Maybe wires have been crossed by the person who first mentioned the takeover bid.

Re: Consortium bidding for Wrexham
 

[QUOTE=Congy Red;2229521]I don't want outside investment and I'll vote against it for two reasons.

1. Firstly we're doing fine without it, there are lots of posters blaming the board for the 1st team manager issue. I am looking further than that. We've recovered from rotten ownership and are on the way back. Profit making club, squad getting better, competing in the playoffs.

2. Secondly its not just about who comes in to invest. Its about who comes after that. Who do you trust more to care for the club? Your sons and daughters and grandchildren after you've gone, or a succession of rich benevolent private investors?


Pipe off consortium we're doing fine.[/QUOTE]

Stop talking sense...:)

I think the key thing is short termism. We aren't far away we just need a little patience. We have come along way.

Re: Consortium bidding for Wrexham
 

[QUOTE=Redrobinman;2229593]Who or what is/are Moneypenny?[/QUOTE]

Mark (on the club board) is finance director of moneypenny for those that don’t know. Large successful growing company based on wrexham.

Re: Consortium bidding for Wrexham
 

[QUOTE=Fozastuta;2229598]Bryn Law lives in Leeds (or did?).[/QUOTE]

I work in Leeds, but I’ve heard nothing. Can’t be true.