rosythpar Posted January 11, 2022 Report Share Posted January 11, 2022 https://dafc.co.uk/story.php?ID=13558&s=09 Quote Link to comment Share on other sites More sharing options...
Tartan Army Par Posted January 11, 2022 Report Share Posted January 11, 2022 (edited) The word loan will probably scare a few, but it looks like the investors will end up owners after 5 years regardless. I don't think they want to take over the mess we are currently in and will take up the majority share holding when times are better on and off the pitch. Edited January 11, 2022 by Tartan Army Par Quote Link to comment Share on other sites More sharing options...
Digs Posted January 11, 2022 Report Share Posted January 11, 2022 27 minutes ago, Tartan Army Par said: The word loan will probably scare a few, but it looks like the investors will end up owners after 5 years regardless. I don't think they want to take over the mess we are currently in and will take up the majority share holding when times are better on and off the pitch. No, this has been the plan for a long time and was exactly what was explained at the meeting with the fans, it's just more than was initially agreed. This is more likely to do with the fact no-ones knows when the circumstances around travel/the pandemic etc wikll change that will allow them to take over fully on their own on a day to day basis. The loan terms are pretty clear there too, there is no interest and it's unsecured meaning they can't call on us to liquidate assets to pay it back. 4 Quote Link to comment Share on other sites More sharing options...
rosythpar Posted January 11, 2022 Author Report Share Posted January 11, 2022 Yeah this was mentioned at the supporters meeting but glad that it has been cleared up,some supporters thought that Fussball GMBH had a majority share in the club. 1 Quote Link to comment Share on other sites More sharing options...
The Roy Barry Fan Club Posted January 11, 2022 Report Share Posted January 11, 2022 (edited) What this tells us is that GmbH have completed their investment in Dunfermline Athletic by putting in a considerable sum in cash (and a wee bit more than was contemplated in the summer). They will convert the loan note, which is interest free and unsecured, into new equity when Covid restrictions calm down. In the meanwhile they continue to have three seats on the Board. More particularly it should also be clear that they didn't like what happened to Ross McArthur in the autumn, but have decided to stick with the Pars. That is to their great credit. Quite a lot of work done in the last few months to secure this. Now we need to focus on the football team. The training ground will take care of itself and will be for the long term benefit of the Club. Edited January 11, 2022 by The Roy Barry Fan Club 9 Quote Link to comment Share on other sites More sharing options...
Tartan Army Par Posted January 11, 2022 Report Share Posted January 11, 2022 Wonder if the wee bit of extra cash is for first team affairs. Quote Link to comment Share on other sites More sharing options...
Yorkie Posted January 11, 2022 Report Share Posted January 11, 2022 As loans go they dont go much better than interest free and unsecured ! Quote Link to comment Share on other sites More sharing options...
Piracy Posted January 11, 2022 Report Share Posted January 11, 2022 10 minutes ago, The Roy Barry Fan Club said: More particularly it should also be clear that they didn't like what happened to Ross McArthur in the autumn, but have decided to stick with the Pars. That is to their great credit. Quite a lot of work done in the last few months to secure this. The vast majority of Pars fans obviously did not like what happened to Ross. I think that was shown by the condemnation and support for Ross on social media. Yes it's great that these 4 gentlemen have decided to stick with the Pars, but I have underlying concerns about their levels of commitment longer term. I have my doubts that they're as committed as initially were when it was annpunced. Reality has come along like an out of control steam train with Covid-19 and travel restrictions, Brexit hampering potential recruitment, the repugnant situation with Ross, the reported concern and dismay at over exuberant Pars fans in the main stand, potential complexities at Board level relating directly to the poor Managerial appointments and the subsequent abysmal team situation on the park. It's alright for us Pars fans who's almost unconditional love for the club keep us coming back. These guys don't have that, they're going to have to learn to love this club. Learn to accept the lunacy of Scottish fitbaw and its overtly emotional fans. With Ross not being here soon, who are they going to rely on to lift this club and by their own admittance professionalise it?, who in our current board set-up has the leadership skills that Ross McArthur has to drive us forward, frankly I can't see that unique person being there right now. I think GmbH just might well be of that opinion too. I'm sorry if this appears negative, but it's my honest opinion. Of course a couple of wins on the park will change things for us all, but we need people to dig deep and somehow find the resolve to get us to f*ck out of this current situation. 2 Quote Link to comment Share on other sites More sharing options...
parsforlife Posted January 11, 2022 Report Share Posted January 11, 2022 40 minutes ago, rosythpar said: Yeah this was mentioned at the supporters meeting but glad that it has been cleared up,some supporters thought that Fussball GMBH had a majority share in the club. I mean the club did announce this. I do question why they would do so when it was not the case. The conditions of the loan are not a concern. What is a concern is this continued state of limbo. 1 Quote Link to comment Share on other sites More sharing options...
DeclanG Posted January 11, 2022 Report Share Posted January 11, 2022 To me, this is really the best case scenario. I don't think that many of us would have been surprised if they'd taken their ball and gone home after what happened with McArthur. I'm not surprised that they don't think it's the best time for them to take over fully since they can't actually be here that often and that's something that they've consistently said was key to their ownership. This shows that they are committed to the club going forward, regardless of what happened and it stops any delay to the academy or training facilities whilst allowing them to delay taking actual control until they feel like they can do a good job themselves, otherwise they risk damaging their own standing within the fanbase. Right now, I think a lot of fans feel like they're going to be the saviours that fix our board and the nonsense that's gone on for the past few years when they take control and them taking over during one of our worst periods would start them off on the worst possible footing, when they can't physically be here often. I have zero doubts that they're paying less £ per share now with the increase of shares from 75% to 80% even with the increased investment but it's more than a fair trade-off if it allows us to get going now. It's going to be continued short-term pain for a while, even if it means we land back down in League One but we have to have a long-term attitude to this (because it's the only way to swallow the sh*t medicine). 4 Quote Link to comment Share on other sites More sharing options...
The Roy Barry Fan Club Posted January 11, 2022 Report Share Posted January 11, 2022 The deal was announced in July but it had conditions to be fulfilled before the cash investment was made. This is not unusual in any corporate deal. The cash and a bit more is now in. The reasons for the re-structure are given in the statement. Ross is still around until the end of the season and more particularly will be parallel running with the new CEO David Cook who joins in a couple of weeks. Certainly in terms of Piracy's understandable concerns, David Cook and Thomas Meggle will be key players going forward. I don't think we need to get too hung up on existing personalities. We are in a time of transition and it may be that new people as yet unknown will arrive in the Boardroom. The GmbH is very much committed: you don't commit the sort of money that they have otherwise. Certainly they will need good local people around them, and in that I entirely agree with Piracy. 8 Quote Link to comment Share on other sites More sharing options...
Piracy Posted January 11, 2022 Report Share Posted January 11, 2022 23 minutes ago, The Roy Barry Fan Club said: The deal was announced in July but it had conditions to be fulfilled before the cash investment was made. This is not unusual in any corporate deal. The cash and a bit more is now in. The reasons for the re-structure are given in the statement. Ross is still around until the end of the season and more particularly will be parallel running with the new CEO David Cook who joins in a couple of weeks. Certainly in terms of Piracy's understandable concerns, David Cook and Thomas Meggle will be key players going forward. I don't think we need to get too hung up on existing personalities. We are in a time of transition and it may be that new people as yet unknown will arrive in the Boardroom. The GmbH is very much committed: you don't commit the sort of money that they have otherwise. Certainly they will need good local people around them, and in that I entirely agree with Piracy. Personally not too hung up on personalities, just concerned that we somehow manage to enhance the current Board with the right people who'll bring a much needed freshness to help us go forward, successfully. No question the current board members have done a huge amount for the club, but it was going stale just before the GmbH announcement with an admitted reluctance to make up any further financial shortfall, also that the community club we had envisaged wasn't a feasible concept I had fully welcomed the GmbH gents arrival and I'm grateful for their financial commitment because without it we'd be flecked. I know they're successful in their individual lives, quality people, but the feedback on them reconsidering their position after a few unsavoury situations had me wondering if they had the stomach for the fight. The fight they'll need to have in them to ride out these situations and overcome stuff they're going to come across in our game. We're used to it, I just hope they too get used to it without it knocking their focus out of sight when another distraction comes along because in the end when it does come right, they'll then see why its all been worthwhile. 3 Quote Link to comment Share on other sites More sharing options...
Number Eleven Posted January 11, 2022 Report Share Posted January 11, 2022 (edited) The CLN structure means that ownership stays as it is for now without the club having to pay any more, due to 0 interest. If the investors don’t convert the loan note into shares when the 5 years is the club can, so the loan doesn’t have to be repaid in cash. It’s understandable that the investors may have been put off, if even half of what was reported as happening to Ross McArthur is true. So the fact they have maintained the investment is good in terms of the funding of the training facility. What is so sad is that while off field plans are progressing on the field are ambition is now to maintain our place in the Championship. Edited January 11, 2022 by Number Eleven 2 Quote Link to comment Share on other sites More sharing options...
Secure Par Posted January 11, 2022 Report Share Posted January 11, 2022 So in terms of the loan that means it can be converted into shares In the Germans favour within 5 years. If not the club need to Find the equivalent amount to turn into shares to maintain control. So the investors dont take over and the club get a loan that is interest free with no timescale to pay back… I’m saying right now there is another agenda with these German guys and we will be in free fall next season. No chance there will be an investment in the squad etc. Quote Link to comment Share on other sites More sharing options...
rosythpar Posted January 11, 2022 Author Report Share Posted January 11, 2022 43 minutes ago, Secure Par said: So in terms of the loan that means it can be converted into shares In the Germans favour within 5 years. If not the club need to Find the equivalent amount to turn into shares to maintain control. So the investors dont take over and the club get a loan that is interest free with no timescale to pay back… I’m saying right now there is another agenda with these German guys and we will be in free fall next season. No chance there will be an investment in the squad etc. When they first got involved Ross did say that the playing budget would be staying the same and not to expect an influx of big signings. Fussball GMBH did make extra funds available for Yogi to bring in an extra three players in this month and can bring in more by offloading some. They have invested large amounts in to the club already, the 30% shares they have is believed to be around about the half million pound mark and putting around about one million pounds in to the new training grounds,plus more money invested in to the club eg the new floodlights. We have every right to be suspicious though after what happened under Masterton and Yorkston. 2 Quote Link to comment Share on other sites More sharing options...
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