Salford

[dixienormous]

Originally Posted by Phils-an-alki

Who said it would be without due diligence?

What he said was do you really believe he would invite a bunch of shysters to get involved with a club he loves and supports, which he clearly does. Why would he?
For starters it would make him look like a fool.

Now I haven't always agreed with him in the past but there is no doubt he's a fan, that cannot be questioned. When people like him who could potentially help the club are treated with such distrust its a clear sign that some fans are still overly paranoid and stuck in the past, which could be a detriment to the club.
Some people are so convinced that the current set up is the only way (flies in the face of the football failure we've endured) that its preventing progress.

Time to move on and stop comparing our situation now to where we have been because its totally different now.

This is the problem. If proper fans like Bryn are treated in such a way what hope have we got of change? I wonder if this was a reason why Don, Bryn and Barry had enough?

[moynkeepthefaith]

Originally Posted by dixienormous

This is the problem. If proper fans like Bryn are treated in such a way what hope have we got of change? I wonder if this was a reason why Don, Bryn and Barry had enough?

Not sure what the definition of a 'proper fan' is in your opinion ? But ,again, I do not see what it has to do with anything when relating to the potential investment in our club ?

Anyway all that I personally have tried several times to state is that I agree with a bond as a starting point which does not suggest for one second that Bryn Law is a not trustworthy or that the group he 'represents' (whatever that means) are a bunch of 'shysters' .

[Quay Red]

Originally Posted by dixienormous

This is the problem. If proper fans like Bryn are treated in such a way what hope have we got of change? I wonder if this was a reason why Don, Bryn and Barry had enough?

The Gate Approval Process

1 Approach to Society Board

2 Signing of a Non-Disclosure Agreement (NDA)

• All members of any consortium must be disclosed and sign NDA prior to any discussions taking place

• Society board to formulate investor NDA which will include a significant ‘Material Loss’ Clause

3 Initial Meeting with investor(s)

• If applicable the Society Board may nominate specialist individuals or a delegation of the Society Board to represent its interests in any stage of talks with potential investor(s)

• The initial meeting objective is to generate the understanding of the investor(s) intentions & proposal including funding model & vehicle(s) to do it

• The Society Board representatives will prepare a feedback report for the Society Board

4 Trust Board Review the investment proposal

• Review and clarification of understanding of intention

• Identify points of further clarification

5 Covering expenditure of the Society and its representatives

• At this point to ensure that any investment approach is genuine, the Society Board is to require a deposit of £5,000 from the investor(s) -the amount subject to rpi inflation as of June each year as published by the Office for National Statistics - into a nominated client account to cover reasonable expenses incurred by the society or its representatives

6 Follow up meeting with investor(s)

• Follow up points of clarification with investor(s)

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

7 Proof of funding & Business Plan

• Submission of Business plan by investor(s)

• Proof of funding required

8 Society Board Decision

• Decision to proceed further with gate approval process Yes/No

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)

• EGM costs to be covered by investor(s)

• EGM would include:

• a chronology of events produced by the Society Board

• A risk analysis by Society Board and/or professional advisors

• A Society Board recommendation to accept or reject the offer Yes/No

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

14 Enact decision of EGM”

See 1.
Nothing to stop anyone approaching the WST board informally.

[Phils-an-alki]

If true what Haruki says then no one will get past step 2.

[moynkeepthefaith]

Originally Posted by Phils-an-alki

If true what Haruki says then no one will get past step 2.

I have signed a number of NDA's in my career and they have always been one-sided to benefit the seller.

While mutual NDA's are perfectly legal and acceptable in my experience they are less prevalent.

[Todd Sweeney]

Originally Posted by moynkeepthefaith

I have signed a number of NDA's in my career and they have always been one-sided to benefit the seller.

While mutual NDA's are perfectly legal and acceptable in my experience they are less prevalent.

Agreed. In my job much of the work we are bidding for is covered by NDAs, and they are always completely in favour of the tenderer.

[chalky]

co-owner Gary Neville Quote

It was a simple economic argument from day one.

“If you want to get out of the National League a budget of £700,000 or £800,000 won’t get you out and it will cost you two or three times as much to get out the longer you are down there.

[Birdy]

The board will never sell they can't let go of the past and love their ego trips as board members.

[pagl]

Originally Posted by Birdy

The board will never sell they can't let go of the past and love their ego trips as board members.

I dont think its quite as cut and dried as that even though there is an element of the truth in there.

At some point the WST board will have to pass it down to a new generation and that will not guarantee people with other motives.

I also think were totally undermanned and individual committees need more people. It does seem the WST board are comfortable with a non growth/strategy position and the football board happy with the ego trip.