So basically one fan group who claim they are the only true religion and speak on behalf of ALL fans are arguing with another group who claim that actually it’s they who are the only true religion with the right to speak, while the vast majority of fans aren’t in either group and couldn’t give a toss? Splitters!
Anyway, on the question of which self-righteous body who thinks they speak on my behalf has actually done anything - which of them attempted to get a bigger voice by buying shares so they could go to club AGMs (although much good that has been!), got the council to list stadium as a community asset so it couldn’t be sold behind closed doors (although the owner has never given any indication that he was ever likely to do so), and also been badgering the council to take over ownership of the stadium (presumably so that they can charge us a market rent instead) - and which of them hasn’t but is obviously the better body to make the world a better place?
Many people have joined them to try and bring about change. They all end up leaving. Just accept the Trust is finished as a group representing fans and serves only for themselves and Sierra Leone.
Question asked on whether the Club was still in debt to Jeff Bonser following the takeover:
SG confirmed Jeff Bonser is no longer owed any money, all loans have been replaced. SG does state that there are still debts owed to other Directors.
I may be thick but what does all loans have been ‘replaced’? It doesn’t say repaid. I remember at the meet the chairman’s meeting a similar phrase being used which made me wonder if we owe Leigh Pomlett instead. I’m sorry if it is clear to some.
The inference from that wording is that LP has taken over the debt to JB. The accounts, when published, should give us the answer although it could be that JB has written them off or part written them off…we can only wait and see.
I doubt very much indeed that Bonser has written any loans off. After saving the club when it was on its knees, and saving it again and again since, why should he?
We just don’t know do we? You may be right but I would guess that the price for the freehold was the determining factor in the sale.The accounts should tell us the answer.
We already owed LP before this - he made a loan to the club when he first joined the board way back in 2010 (Leigh Pomlett joins Walsall board).
In his press interview he was quite careful to say that the club does have debt but that debt lies with the directors. What I took that to mean is that they (mainly Bonser but others too) have been plugging any gaps with personal loans so we don’t owe any 3rd parties but do need to pay back these loans at some point (unless they are forgiven by the person who made them - which might not always be possible for legal/tax reasons, as well as financial common sense ones, not just because they aren’t a “good egg” willing to take a hit).
If Bonser won’t/can’t write off the loans he’s made and is still owed for, then the club would have to pay him back what he put in, which (unless we suddenly have a cashflow surplus) would more than likely be by way of another loan from LP and/or other directors.
According to the last set of accounts, the club also has a bank overdraft that was personally guaranteed by Bonser (so if the club defaulted on paying it back he’d have had to pay it back himself). I would presume that either this has been paid off (by way of another director loan) or someone else has put themselves up as guarantor?
It was pretty much a Bonser requirement that directors made a loan to the club. One of his idiosyncrasies - he liked the board to have skin in the game.
