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[QUOTE=Ghost of Plague;243495]If the product was worth the price we'd have a bidding war.
When people continually walk away and more importantly never actually even exist you need to point the finger squarely at the people asking too much for their half chewed bag of dicks of a club.
The use of ‘bag of dicks’ was outstanding in the Ghost’s post
I bet the member wishes he was still around to take ownership over such a great post.Quote:
Originally Posted by Ghost of Plague
If he had those the club would be financially viable. He could afford to buy the club himself twice over.Quote:
Originally Posted by The Dunster
Why is no other media running with this, something smells
I may have missed it but it’s odd there’s no Herald article covering it.Quote:
Originally Posted by My2BobsWorth
Thinking this all day....something strange.Quote:
Originally Posted by evolution
Will talk to Membah and Plague on Parler to get the real goss.
part ofQuote:
Originally Posted by mic22
Quote:
JETS chief executive Lawrie McKinna has reopened talks with two potential buyers and insists the embattled club has the player and financial resources to thrive in the A-League.
With the Jets' season opener against the Mariners less than three weeks away, the ownership issues are no closer to being resolved after a group fronted by prominent player agent Buddy Farah withdrew from negotiations this week.
The investors had been in a period of exclusive negotiations and the transfer of the club from Martin Lee to the new group was expected to be finalised by Monday - opening the way for the Jets to sign a new coach and recruit players.
"We have reopened talks with two potential buyers who were engaged before," Mckinna said. "It's not all doom and gloom. The club will be in the competition next season. Negotiations were well down the track before the other guys went into the exclusivity period.
"It will take time but a lot of the stuff has already been done. They were on the radar before we went into exclusivity. We have zoom conferences with FFA at the beginning of next week. I am pushing hard with that because the other consortium pulled out at late notice."
Honestly, we really need to get this parasite out of our club quickly if we want to have any chance of surviving. I'm all for enjoying the shit show that is and always has been the Newcastle Jerks, but he's taking it too far now.Quote:
Originally Posted by Negative Police
We really better start hoping the other clubs love our shenanigans enough to warrant buying the licence back from Mr Lee, cause we are in huge debts and the FFA/other teams can't just keep the club going without paying most of those debts first.
Problem would be solved if the license was stripped.
No money for over year? If this was a local consortium they'd be long gone.
This I agree with. New buyer pays out debt. License is theirsQuote:
Originally Posted by Jetmaster
If they strip the licence we'd need to find somewhere else to play. Cause they owe $4 million or something to the stadium. There's no way they let a new Jets owner play out of their stadium without the debt paid.Quote:
Originally Posted by Jetmaster
Wasn’t the no money for 12 months clarified to mean that he made a big lump sum payment to cover the seasons spending.
I’m no lawyer but I feel like any failure to pay wages would result in warnings and eventual stripping of licence. We’ve all heard the “we’ve got no money coming in” line, but as long as he’s paying those wages and the bare minimum, he’s under no obligation to spend more right?
Idk. I feel like everything’s not adding up.
Lee sells to a buyer.
Lee hangs on, and funds the season with bare minimum and nobody can do anything about it.
Lee can’t make payments and the league takes over the licence and funds/funds a buyer
Lee can’t make payments and we fold.
Is there any other option here?
All the wages are up to date same with super as of a few weeks ago as the club saidQuote:
Originally Posted by Bremsstrahlung
Fox money pays wages so that bit is fine.
Friendly with roar is live now
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I can think of a few good reasons why you would not show buyers your financial records, so I'll just sit and wait and hope that they know what they're doin
I don't think any potential buyer who would have amassed enough money in there professional life to acquire a Football team who would not be diligent enough to insist upon viewing them.Quote:
Originally Posted by My2BobsWorth
Just how dumb ass of a buyer are you waiting for ?.
1-1.
We're so good at drawing we should start art classes...
My understanding is, the financial records are there for viewing for legit buyers who can produce their own financial records, which have to show that they are not the dodgy brothers, you seem to be willing to let anyone inQuote:
Originally Posted by 380
A period of exclusivity was entered into, I would say somebody thought they were legit enough eh ?.
Nah, Lawrie did nothing wrong, as he always has, and is trying to save us from being purchased by an owner who will run out of funds in a few years and slowly stop paying the bills until we begin to crumble.....Quote:
Originally Posted by 380
Again....
Lorry has never sold us to anyone shorty
I just find it bizarre anybody could or would suggest the club held back available information , We don't have that luxury.Quote:
Originally Posted by Frodo
When you learn how to read posts properly, i'll reply back to you with my usual brilliance and perfection. Until then, good day to you sir/madam.Quote:
Originally Posted by My2BobsWorth
We probably haven't had anyone doing the books for the last few years knowing this place, or they let the person in charge go and didn't ask them where everything was kept?Quote:
Originally Posted by 380
Your understanding is wrong.Quote:
Originally Posted by My2BobsWorth
And that's ok.
But you're wrong.
The FFA (or new commission) is the only body with any interest in where the money is coming from. The basic courtesy of providing financials is step one of many in doing a deal. If the Jets didn't produce them (which is a disputed claim to be fair....although the bloke disputing it is full of shit in my opinion), anyway if the Jets gave them over and the deal folded then that's business. If the agreement was that the Jets produce them and they haven't, well that's just the Jets isnt it.
Understand though, its not completely rare that businesses get brought and sold where audited financials aren't required. This is usually where businesses are very young or have very valuable IP (in the eyes of the seller). But in pretty much all of these transactions any ongoing contracts, debt and disputes remain with the seller. If youre taking on debt with a going concern you get audited financials.
The seller (Lee) just wants his cheque. He would give zero ****s where it comes from.
Maybe a CEO who knows he may well be unemployed as soon as the sale goes through might try to delay the process.Quote:
Originally Posted by 380
Which if that were fact says more about the individuals than the actual process doesn't it.Quote:
Originally Posted by skullboy
I am tipping that the interested party in the first couple of months of this year at $8mil was in fact Gerry Ryan. Twice knocked back in fact if the article is to be believed.
How much do we think Ledman is involved with this? For all we know they might be being right ***** and just knocking things back at a whim with Lawrie the bug on the windshield trying to explain. You would think though he would quit and blow the whistle at some stage if that was the case.
Today’s Herald
NEWCASTLE Jets CEO Lawrie McKinna has assured long-suffering fans "we'll get through it" as the search continues for a new owner to keep the club afloat.
Chinese businessman Martin Lee, who has bankrolled the Jets since June, 2016, has spent the past two years trying to offload the franchise that has drained an estimated $15 million from his coffers.
Negotiations with a number of interested parties have broken down, leaving the Jets facing a crisis that has evoked a sense of deja vu among their supporters.
With less than three weeks before the season kick-off, the Jets have a stopgap coach, an incomplete roster, liabilities that are reportedly in the millions, and an owner who McKinna revealed in October has "not given us one penny, for more than a year".
It hardly augurs well for the season ahead, but McKinna was optimistic the Novocastrian faithful would not abandon their team in its hour of need.
"It's not ideal, but we'll get through it," McKinna said.
Everyone at the club is still working hard to make sure we put the best possible team on the pitch, in the circumstances.
"Times like these are when you need the support."
Times like these are when you need the support.
LAWRIE McKINNA
The Scotsman pointed to the club he has followed all his life, Rangers FC, as an example oif what fanpower can achieve.
"If you remember, about eight or nine years ago, Rangers were relegated from the [Scottish] Premier League to the fourth division [after they were declared insolvent]," he said.
"The first home game they had in the fourth division, they had 48,000 fans turn up. The fans stuck by the club."
Newcastle had about 10,400 members last season, which was severely disrupted by coronavirus restrictions.
McKinna expected all A-League clubs were likely to be a "wee bit down" on last season's numbers but felt Newcastle's early schedule would be a drawcard.
They open their campaign against derby rivals Central Coast in Gosford on December 31, a game that Jets members can attend for free.
Round two will be a grudge match between Newcastle and Western Sydney Wanderers - the team who recently poached Jets coach Carl Robinson. In addition, the Jets play Wellington Phonix in a trial match at McDonald Jones Stadium on Saturday that is a members-only event.
"We've already had 600 responses, whereas in previous seasons we might have had 400 or 500," McKinna said.
"So that's encouraging. If you're looking for a good Christmas present, sign up for a membership. If you get one this week, you can get in to the Wellington game."
Football Federation Australia officials, who have been trying to broker a deal on Lee's behalf, said on Monday they were still "in discussions with a number of prospective buyers".
If they are unable to find a suitable replacement, it has been reported that the Australian Professional Football Clubs Association - the body representing A-League clubs' owners - will consider providing the Jets with a financial safety net.
It is understood the plan would be to support Newcastle for up to 12 months, while continuing to search for a long-term solution.
In their statement on Monday, FFA said they were "hoping to have a new owner for the Newcastle Jets very soon".
But they also explained that a "thorough due diligence process" would be required.
"The end objective is to bring stability and future sustainability to the Jets, who are a very important part of the A-League competition with a proud history and a tremendous fan base," FFA said.
I know it’s just all for the media but, seriously, I doubt there are too many regions they could expand to and have the same level of support Newcastle Jets do.
Look at Wanderers, packed out stadiums, acl, few bad seasons and their number are low.
Meanwhile, we’ve had one successful season in the last what 10 years? Still getting 10,000 (last year) members.
So FFA are correct when they refer to the tremendous fan base.
As an aside, if we are still millions in debt to the stadium peeps, why do they keep letting us use it?
Was wondering this point myself just the other day and was trying to draw some similarities between what happened to Force India in F1 now known as Racing Point.Quote:
Originally Posted by Bremsstrahlung
If creditors called in the debt that could not be paid surely that set of circumstances would trigger the FFA or FA whatstherename to remove Lee and then seek a new buyer for the total sum of the debt only.
Nobody from the Jets turned up to the Launch in Sydney.
That wasnt a launch.
But run by fox, as a launch.
And referred to by Kruse as a launch.
But it wasn’t a launch.
My humble apologies Mr Frodo, I think I was drunk, as usualQuote:
Originally Posted by Frodo
We are talking about a football club not a pie shop.Quote:
Originally Posted by Ghost of Plague
It's not the first payment they will be checking, this is ongoing
You say I'm wrong but you have no idea what the hell is going on
Just like the rest of us, I'm only speculating
So, theoretically, could a new owner come in, pay the debts owed and a smaller than usual licence fee (because the other clubs just want us off their hands) and pick us up?
Thank you for registering your interest in a post from ghost of plague.Quote:
Originally Posted by My2BobsWorth
I will leave all pie related discussion to you, as i can only assume you have the experience and knowledge over me there.
As far as the other stuff is concerned thats cool too. I wish you all the best when selling your next business, be it pie, or non pie related.
Good day.