New Owners

[Plainmoor78]

Am I the only one worried/bricking it/concerned/panicking that this saga is dragging on and on?
The Club must surely make a statement of some kind sooner rather than later.

You are far from the only one concerned. But Gullscorers link to the herald express article of 24th may is the closest any of us will get to a statement. Dave Philips can hardly be surprised about any anxiety among the support when earlier this year he said he expected a deal to be done before the end of the season. My fears are that this will fall through and we would have just wasted valuable time that could have been used to find an alternative option.

[PhilGull]

You are far from the only one concerned. But Gullscorers link to the herald express article of 24th may is the closest any of us will get to a statement. Dave Philips can hardly be surprised about any anxiety among the support when earlier this year he said he expected a deal to be done before the end of the season. My fears are that this will fall through and we would have just wasted valuable time that could have been used to find an alternative option.

Baring in mind we have apparently already sold more season tickets than last year I would guess that although you may not be alone you are in a small minority.
Just calm down!

[tomogull]

Thought about this over the last couple of days and today went to the ground and brought a season ticket for next year. Why?

I've come to the decision based on KN is trying to get a good squad together now, he cant wait for GI to sort their act out, funds he has available only aids that. £200 is very good value for a ST, Nicho wants players nailed down and be ready to go, i think we are nearly at 650 sold too.

I've also succumbed today for similar reasons as TUST-Rob, but mainly the S.T. Bargain Price.

As for Philgull's post, just because more season tickets have been sold than last year, it doesn't mean that it's a minority who are very concerned about what is happening, or what is not happening, at Plainmoor. Fans I speak to have serious doubts about G.I's priorities. It's fairly obvious that their main interest is a new multi-purpose money-generating ground which isn't a bad thing, but permission has to be granted by Torbay Council after due notice of the application and as someone rightly posted earlier, planning permission hasn't even been applied for yet, or if it has, it hasn't been advertised. All we're getting from David 'Mr Mainwaring' Phillips is 'Don't Panic' and nothing at all from the Gaming International people.

[markw]

I purchased my ST today, As I want KN to have the funds to build the team he wants , and it is very good value for money , they said they have now sold nearly 800

[lexusguy]

On OS - Early bird offer extended until Friday 3rd June

[PhilGull]

Just read this on the BBC

The last part is where it gets interesting...

"Finally, there may be some in the lower leagues who may have another, totally legal motive for owning a club.

Pete Hackleton, tax partner at Saffery Champness, explains: "What can be quite popular is if you have a profitable company which is already paying tax in the UK or anywhere else on its profits and you were to buy a football club which is making losses, then the profitable company can sponsor the football club.

"You could be the main shirt sponsor, stand sponsor or whatever else. Let's say the profitable company pays £1m a year for that privilege. The profitable company has an extra £1m for expenditure, so effectively it saves tax on that £1m, and the football club has an extra £1m of income, which, because it has other losses, probably doesn't have to pay tax.

"But the other way for the owners is quite often if they've got a profitable company, they will acquire the football club underneath that company. Then what you can do is, when the football club makes a loss, you can surrender those losses to the profitable company.

"If that company is making £5m a year of profit, it would have £1m of tax to pay in the UK. But if the company is making a £5m profit and a football club underneath it making a £5m loss, you can just offset the two. Overall there's no profit and no tax to pay.""

It certainly makes sense, especially when we don't currently have any major sponsors...

[Richinns]

Just read this on the BBC

The last part is where it gets interesting...

"Finally, there may be some in the lower leagues who may have another, totally legal motive for owning a club.

Pete Hackleton, tax partner at Saffery Champness, explains: "What can be quite popular is if you have a profitable company which is already paying tax in the UK or anywhere else on its profits and you were to buy a football club which is making losses, then the profitable company can sponsor the football club.

"You could be the main shirt sponsor, stand sponsor or whatever else. Let's say the profitable company pays £1m a year for that privilege. The profitable company has an extra £1m for expenditure, so effectively it saves tax on that £1m, and the football club has an extra £1m of income, which, because it has other losses, probably doesn't have to pay tax.

"But the other way for the owners is quite often if they've got a profitable company, they will acquire the football club underneath that company. Then what you can do is, when the football club makes a loss, you can surrender those losses to the profitable company.

"If that company is making £5m a year of profit, it would have £1m of tax to pay in the UK. But if the company is making a £5m profit and a football club underneath it making a £5m loss, you can just offset the two. Overall there's no profit and no tax to pay.""

It certainly makes sense, especially when we don't currently have any major sponsors...

Good work Phil

I was very puzzled by the lack of seeking a shirt sponsor. This could explain it.

[Gulliball]

I am sure that we are looking for a shirt sponsor, as well as a ground sponsor, it's just proving difficult. We'll probably have to take the best offer soon as the shirts will need to go on sale.

[Richinns]

Really? I have seen many tweets/stories from the club seeking a stadium sponsor but not one regarding a shirt sponsor?

I may be wrong (and these have all passed me by) or it maybe they are looking for a sponsor outside of the public eye but it seems to me that Phil might be onto something here.

[Gulliball]

There was a story in the Herald last week and Nicholson has publically said that any sponsorship money he raises goes straight to his budget, so we're trying to raise as much as we can. Anything else would make no sense at all.

The tax pairings is a general avoidance loophole and is in a general article for the BBC. Trying to link that to our new owners before they even take over is a bit of a stretch.

[PhilGull]

I'm not suggesting it is the definitive reason for anything, just that it might be an explanation for why a company and people with no association with the club or area may be interested in buying besides asset stripping as some posters here seem to be worried they are...

[SteveDeckchair]

The reason we are attractive to GI is not because we are loss making.

Offsetting losses within a group of companies is standard practice in business but ultimately there needs to be a reason for owning the loss making company (club). In our case, that reason will be building the stadium and potential redevelopment of Plainmoor.

[Richinns]

There was a story in the Herald last week and Nicholson has publically said that any sponsorship money he raises goes straight to his budget, so we're trying to raise as much as we can. Anything else would make no sense at all.

The tax pairings is a general avoidance loophole and is in a general article for the BBC. Trying to link that to our new owners before they even take over is a bit of a stretch.

There was but this read to me that alternative (smaller) sponsorship opportunities other than the big ones of shirt, stadium and shorts sponsors.

TUFC have publically asked for stadium sponsorship interest, are running a raffle for sponsors of the shorts but as far as I am aware have never (publically) announced the opportunity for a shirt sponsor. This has to be the biggest priority (especially with a new home shirt due) which is why I have been puzzled at the lack of communication about it.

[PhilGull]

There was but this read to me that alternative (smaller) sponsorship opportunities other than the big ones of shirt, stadium and shorts sponsors.

TUFC have publically asked for stadium sponsorship interest, are running a raffle for sponsors of the shorts but as far as I am aware have never (publically) announced the opportunity for a shirt sponsor. This has to be the biggest priority (especially with a new home shirt due) which is why I have been puzzled at the lack of communication about it.

Well then I guess MB Insolvency are still in position.

[Gulliball]

Rich, if you go to the official site and click on the sponsorship article, and click through to the link in that article, all the available sponsorships are on that page.

Stadium naming is £25k + VAT, shirt sponsor is £20k + VAT. The full list is there, including training ground and back of shirt, plus others.

These are big sums of money, figures that would make a big hole (or big increase if we sell more than budgeted) in the budget. Not selling £20 000+ of revenue just to pay less tax would make no sense and potentially ruin our budget.