Pop Tart you seem like a person in the know: The highlighted £ 4 million plus debt is I presume the loan from the council to purchase the ground and the Covid loan, these need repaying and will be incurring interest. They are short term loans, perhaps typically I am guessing to be repaid over a five year period. Then we are told of trading losses that will need to be covered. Over the last few years the trading losses have been covered by director loans. So cash will be needed urgently to repay the loans and cover the trading losses. This idea that the ground is now worth £ 15 million does not generate cash. Firstly who has valued it at that figure, why stop at 15 million why not say its worth 100 million. I cant see a bank lending money against the ground as firstly according to Companies House the council already has two charges on the ground, secondly would the directors / owners want to risk the ground again, thirdly in all honesty can you see a company valuing the ground on behalf of a bank at any more than any buyer would be prepared to buy the club for which is no where near £ 15 million. The debts need paying, cash is required. So what the club needs is a successful person to buy it, again looking on companies house you can see the last posted accounts of our proposed buyer show a turn over of £ 92 million, an operating profit of £ 25.64 million which after tax showed a net profit of £ 20.44 million. That's one successful and wealthy company. That would be plenty of due diligence for me !!!!

I was at the meeting and don't draw the same conclusions you.

The asset, bought with the loan, is an earning asset. That's what pays for the loan.

Clearly, everybody gets that an influx of money is beneficial if we want to move forward, but that's not the same as being needed to pay the bills.

No one doubts that he has money.....or actually his business has money but he isn't actually he owner if you read those accounts.

But that money is also there to invest in the kitchen business.

Who's to say its going to be spent on Trinity or that he knows what to spend the money on?



That is what due diligence process is there to find out.



Note: my only credit of being in the know, is that I was at the Shareholder meeting.

If he wants to guarantee his continuing involvement he can take over the club, but it is pretty obvious he lacks the finances to do so. He could which happens quite often negotiate with a new owner to stay in situ for a period after the takeover.

The problem is we have one motivated seller plus a club in need of a motivated buyer with the finances necessary and one who wants to stay in place. We cannot go on the way we are because with or without relegation the club has been starved of cash for many years.

I am sorry but at the end of the day the club’s survival is bigger than any one individual. I would point out he is not the majority shareholder so I suppose he could be out voted by the others because it will come to this at some point, hopefully soon.

That's not true.

No one who 'wants' to stay in place at all.



All shareholders have said multiple times they will sell their shares for nothing and not call in their loan.



It is other people who are saying Minards should stay and he has said he would,maybe, in some capacity, if Ellis wanted him to.

If it is some supporters who think he should stay then fine because it would not be in their gift to do so. I guess time will tell if they get their wish.

Just out of a matter of interest…

If Matt Ellis decides he wants a clean slate and bring a fresh team in(which could be a good thing) who do you think would be a good fit for the positions…?

I think Matt Ellis could run rings around everyone on this forum in business matters, his track record proved that. Therefore I would be happy with anyone he decides to bring in.

AS for John Minards, the guy has done his shift for the club and like Micheal Carter he should move on.

You could say the same about Glover, Ted, Pearman and the rest. All were better businessmen than me but all left the club in dire straits.



Being able to run your own business is not the same as running a rugby club.

Just to be clear. No IF.

Anyone at the meeting will tell you how it is.

Stockholm Syndrome ?

Just reporting what was said. If you want to believe the world is flat you are free to do so.