Eunan O'Kane

[Tokyo Calling]

Well done Jack Wilshere!! they turned down 600k last week so would guess 800k to 1m

could have been nothing if he hadn't signed a contract with a release a few years back and could have been nothing if he had waited out his contract

glass half full! as another poster said earlier, could turn out ot be a life saving amount.....

[Jerry]

The talk on twitter and such seems to be that the fee is somewhere around the £1 million pound mark so not as big as we might have hoped but that is the kind of money that could see maybe 2 or 3 new players for nicho!

No new players I'm afraid. Nicho won't see any of this money.

Thea Bristow reportedly takes half of any transfer income and the rest will probably have to go towards paying off GI and Pete Masters.

[happytorq]

Thea Bristow reportedly takes half of any transfer income and the rest will probably have to go towards paying off GI and Pete Masters.

Would be nice if we were able to see the exact number that are owed, really. Ok, Thea Bristow supported the club and is surely entitled to some measure of repayment, but does anybody know what the figure is? Is it a case of 50% of transfer fee income for X years, or is there a £ amount that we're hoping to pay back?

And the GI/Pete Masters thing is like a sword of damocles hanging over our heads; would be nice to know what that amount is and where we'd stand if we weren't able to repay it by whatever deadline there is.

[Jerry]

I see Ryan Bowman moved to Motherwell yesterday for an undisclosed fee. Did we have a sell on clause on his transfer?

[Bomber]

I see Ryan Bowman moved to Motherwell yesterday for an undisclosed fee. Did we have a sell on clause on his transfer?

Possibly. http://www.torquayheraldexpress.co.uk/t ... story.html

[PaulR]

http://www.bbc.co.uk/sport/football/37248643

[MellowYellow]

No surprise there! Maybe our Chairman will inform us it is being used to bolster the profit and lost account. If there is silence then no doubt it means we are paying back GI, for all the goodwill they provided for the benefit of Town's community, then their is lineing the pockets of the Directors with a few quid and of course there is Thea, although I don't begrudge her a slice of the cake. Thought the very least a few bob could have been set aside for a 'players away travel fund.

[Plainmoor78]

No surprise there! Maybe our Chairman will inform us it is being used to bolster the profit and lost account. If there is silence then no doubt it means we are paying back GI, for all the goodwill they provided for the benefit of Town's community, then their is lineing the pockets of the Directors with a few quid and of course there is Thea, although I don't begrudge her a slice of the cake. Thought the very least a few bob could have been set aside for a 'players away travel fund.

Are you criticising the board for repaying the GI loan? If that loan isn't repaid by January we are in serious trouble. One rumour I have heard is that if the loan isn't repaid GI will take the club over for free. Even if that is a false rumour they could apply for a winding up order. Some people do not seem to appreciate the very real danger we are in, fer Christ sake probably shouldn't have expressed himself the way he did but I can understand his frustration.

[Gullscorer]

Exactly how much did GI loan to the club?

[Plainmoor78]

The value of O'Kane's transfer deal rests on appearances and Leeds finishing position so it could be almost a year before the club find out how much they will get. The loan from GI has variously been been reported to be between £50,000 and £70,000 plus interest (it should be noted that unscrupulous business men have made profits from loss making football clubs in the past by lending them money at above market level interest rates). Thea Bristow made a £200,000 interest free loan to the club with no fixed repayment date. One would assume she will continue to receive a cut of transfer dealings until the 200 grand has been repayed.
And don't forget the money the club lost on the yellowfest debacle, around £35,000 I believe.

[Kernowgull]

The value of O'Kane's transfer deal rests on appearances and Leeds finishing position so it could be almost a year before the club find out how much they will get. The loan from GI has variously been been reported to be between £50,000 and £70,000 plus interest (it should be noted that unscrupulous business men have made profits from loss making football clubs in the past by lending them money at above market level interest rates). Thea Bristow made a £200,000 interest free loan to the club with no fixed repayment date. One would assume she will continue to receive a cut of transfer dealings until the 200 grand has been repayed.
And don't forget the money the club lost on the yellowfest debacle, around £35,000 I believe.

Surely with the MacDonald sale, this Eunan money (even if what you say is correct, we must have received a little bit up front), the WBA and Plymouth Friendly money, and potentially a couple of k for Bowman, even if all that is split with Thea, that must be enough to pay off GI and save any further interest payments? And whilst we might have made a loss on Yellowfest, wouldn't that loss have been paid up front, instead of monies owed after the event?

So surely the day to day running costs should be taken care of by normal revenue streams, the above mentioned incomes will have not been in the budget, and should take care of most of the debts, barring Thea, which is alledgedly interest free and not time bound, so until we sell another player, shouldn't that be sorted?

[jimhart]

We should be informed of the base fee agreed now and should receive our share of that shortly. (£)

[MellowYellow]

Are you criticising the board for repaying the GI loan? If that loan isn't repaid by January we are in serious trouble. One rumour I have heard is that if the loan isn't repaid GI will take the club over for free. Even if that is a false rumour they could apply for a winding up order. Some people do not seem to appreciate the very real danger we are in, fer Christ sake probably shouldn't have expressed himself the way he did but I can understand his frustration.

The Chairman and the Board are not beyond reproach, and yes I am very critical of the GI deal. Were the Board so blind that they could not see that this development company had absolutely no interest in the club other than the purchase of the freehold of Plainmoor. To me it was plain arrogance to take a unilateral route on a deal when all others within the community were wary. Lessons should have been learnt and yes I do question whether this loan deal was done in the best interest of the club or whether it was just the Board's 'greed factor' kicking in for a quick exit with profit ( I don't condone them for that) . So if we have sold the family silver and GI get the club for free then good luck to them, that's just good business in my books. As for the Chairman and the Board well history should have been the indicator of what these development companies are about and lessons should have been learnt. Take Hereford Utd whose ground was central to their financial troubles, with the owners of the club handing the leases over to a development company from whom they had borrowed money to enable debts to be settled. Plans for a new 7,500 seater stadium were drawn up later to become redevelop of the current ground to include leisure facilities, however this was not supported by Herefordshire Council. The rest of the story is history.

I will, of course, continue to support the Chairman and the Board, but that is not to say I cannot be critical of them. Was there any other options other than the GI deal. Yes of course there were, just as there is more than one way of peeling an orange.

[Dave]

In a previous post you pretty much accused the board of lining their own pockets, what makes you believe this to be the case ? evidence ?

You tell us there were other options, other than G.I, who were they ? name them ? evidence ?

Just out of interest.

[torq2u]

Did we have a sell-on, sell-on sell-on clause in Jamie Ward's contract , by any chance? He has left Forest for Burton!!!