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B-road
New Owners
01 October, 2018 09:50

 
Ronster
Re: New Owners
Drahm for England (IP Logged)
01 October, 2018 09:52
Interesting. Good to see a former Prem player involved in Dave Seymour.

No doubt there will be some opinions on Mr McCrory on here...

 
GrubberKk
Re: New Owners
GrubberKk (IP Logged)
01 October, 2018 09:56
I say this as a Hereford (United) FC supporter. McCrory was sniffing about the club before it went bust. He allegedly introduced convicted criminal Tommy Agombar to then owner. And we all know how that went.

He's been sniffing around football clubs for years. Was at Swindon - you can read up on that...

(
[www.herefordtimes.com]

[www.herefordtimes.com] )

The line I'd be very wary of is "They have plans to further develop the Sixways site to generate additional income".

THat may work out for the club, but, as I say, I'd be wary of what they mean.

Anyway, good luck. Here's a bit more about them Pope at least...


[www.brookspope.com]



Edited 1 time(s). Last edit at 01/10/2018 10:01 by GrubberKk.

 
Blue&GoldWarrior
Re: New Owners
Blue&GoldWarrior (IP Logged)
01 October, 2018 09:58
Really interested in a couple of points there.

1. David Seymour - Interesting to see a former player involved, especially on that didn't play for us. Often heard people saying we don't have people who know rugby involved at the top. Can't say that anymore. Does that also mean we can go back to chanting 'You've got a Pineapple on your head' to him (Sm100)

2. "The new owners are committed to keeping the Club at Sixways and investing above a certain threshold into the rugby budget" No move away and more money on players. Be interested to see if we have any midseason arrivals now!

3."They have plans to further develop the Sixways site to generate additional income" Very interested to see what they have planned. I think we will see a hotel on site with a new north stand!

All sounds very positive but doesn't it always!

 
MESSAGES->author
Re: New Owners
West Brom Warrior (IP Logged)
01 October, 2018 10:01
Welcome and good luck to the new owners

 
usa warrior
Re: New Owners
usa warrior (IP Logged)
01 October, 2018 10:07
BGW, yes it does sound positive and addresses some of the worries that have been voiced on here and on other platforms.

Just pleased it's done with tbh.

The development that I'd heard about before, and possibly alluded to, was/is a hotel and a chain had already been identified.

 
Patgadd
Re: New Owners
Patgadd (IP Logged)
01 October, 2018 10:07
More on Errol Pope from Company Check:
The combined cash at bank value for all businesses where ERROL holds a current appointment equals £0, a combined total current assets value of £0 with a total current liabilities of £0 and a total current net worth of £0

Yes I know, it means nothing; I just thought it was funny.

 
neiljk
Re: New Owners
neiljk (IP Logged)
01 October, 2018 10:13
No worries addressed for me. On quick scan of the internet nothing found that suggests these guys have significant track record, access to funding or interest in rugby. Perhaps the more diligent internet hunters will find more.

We shall see I guess as we learn more about the actual plans and see the new owners in action.

 
yellow450
Re: New Owners
Yeller (IP Logged)
01 October, 2018 10:17
It was good while it lasted, adios..

 
MESSAGES->author
Re: New Owners
Abberley (IP Logged)
01 October, 2018 10:28
Quote:
Drahm for England
Interesting. Good to see a former Prem player involved in Dave Seymour.

Will he be bringing his coffee expertise to Sixways?

[www.couchgrindcoffee.com]

(and will he have to relinquish his role as official ambassador for Sale?)

 
ROLLO on tour
Re: New Owners
ROLLO (IP Logged)
01 October, 2018 10:40
Welcome the news lets give it a chance, at least the uncertainty is now settled.

 
MESSAGES->author
Re: New Owners
Faithful_City (IP Logged)
01 October, 2018 10:41
Extract from their website

Quote:

Mr Errol Pope
Chief Executive Officer - CEO
errol@brookspope.com

Errol Pope boasts an entire working life in the financial sector: residential and commercial finance. The corporation board benefits enormously from his commercial finance connections world-wide. To compliment such experience is his expertise in the domain of banking instruments, Letter of Credits, Bank Guarantees, Standby Letter of credits Ė within which he too, avowals his vast knowledge in such operations.

Ms Gail Brooks
Chief Financial Officer - CFO
gail@brookspope.com

Gail Brooks, a lawyer and educator of over two decades, and has significant experience in both disciplines: education and law. Her legal knowledge has led her practice in various areas of law: education, property, immigration, family, employment, amongst others. In addition and concomitantly she has successfully co-ordinated and represented in many private matters of real estate and the acquisition thereof, with her expertise rapidly advancing into investments and trading.

Ms Lesley Heron
Property Management Consultant - PMC
lesley@brookspope.com

Lesley Heron, has been in property development for encrouching two decades. Her specialities lie in both the residential and commercial properties. Previously, she has advanced the corporate world with her lonjevity in project management of exceeding ten years. She has now taken on the role as Property Management Consultant where her wealth of skills married with her bounteous expertise in this area will indubitably prove greatly advantageous to the objectives we so pride ourselves in at Brooks Pope & Co.


I am sorry but that all reads badly, immature with several "big" unnecessary meaningless words, a lot of "I love me"

It reads like a lot of Bovine Excreta.

Would you do business with this company? Does it sound like they have multi-millions to spend on a loss making Rugby Club.

Reads like we have been sold down the river.

JP

 
Abmatt
Re: New Owners
Abmatt (IP Logged)
01 October, 2018 10:42
Well Iím glad this has been put to bed. Hopefully it will have a positive effect on performance on the pitch.

Only time will tell if it is for the better or not.

In the meantime good luck to the new owners.

 
TRIXTA
Re: New Owners
TRIXTA (IP Logged)
01 October, 2018 10:52
I suspect that Pope is just leading the consortium and not investing himself. He is a specialist in property finance and perhaps it is the others who are putting the money into the club. I don't know this of course but it's the way I read it.

 
AJWarriors
Re: New Owners
AJWarriors (IP Logged)
01 October, 2018 10:55
Hopefully this will now settle the club and players minds a little to the uncertainty of our future. Also itís pretty good timing especially with contract renewal negotiations starting around this time of year. If itís true what they say about the improved rugby budget,then we can possibly keep our better players paying them well financially,while recruiting some very good players too.

 
B-road
Re: New Owners
01 October, 2018 10:55
It is what it is.

Not a lot, actually absolutely nothing, to be gained by being negative.

 
MESSAGES->author
Re: New Owners
Powick Eastander (IP Logged)
01 October, 2018 10:57
Quote:
AJWarriors
Hopefully this will now settle the club and players minds a little to the uncertainty of our future. Also itís pretty good timing especially with contract renewal negotiations starting around this time of year. If itís true what they say about the improved rugby budget,then we can possibly keep our better players paying them well financially,while recruiting some very good players too.

All within the salary cap of course (Sm100)



http://v4admin.sportnetwork.net/upload/130/130_0_1418121803.jpg Warriors Rugby Supporters Club http://v4admin.sportnetwork.net/upload/130/130_0_1418121803.jpg

 
MESSAGES->author
Re: New Owners
Faithful_City (IP Logged)
01 October, 2018 10:58
Well there is absolutely nothing to be positive about.

Prediction

in 10 years time Sixways will be a residential and commercial development site

I can wait

JP

 
AJWarriors
Re: New Owners
AJWarriors (IP Logged)
01 October, 2018 11:03
Quote:
Powick Eastander
Quote:
AJWarriors
Hopefully this will now settle the club and players minds a little to the uncertainty of our future. Also itís pretty good timing especially with contract renewal negotiations starting around this time of year. If itís true what they say about the improved rugby budget,then we can possibly keep our better players paying them well financially,while recruiting some very good players too.

All within the salary cap of course (Sm100)

Of course PE ha ha :-)

 
TRIXTA
Re: New Owners
TRIXTA (IP Logged)
01 October, 2018 11:10
Quote:
TRIXTA
I suspect that Pope is just leading the consortium and not investing himself. He is a specialist in property finance and perhaps it is the others who are putting the money into the club. I don't know this of course but it's the way I read it.

Whoops - just read the BBC H& W website where it says Pope is the primary funder.

 
neiljk
Re: New Owners
neiljk (IP Logged)
01 October, 2018 11:11
Unless Iím missing it, it doesnít say an increase in the rugby budget, it says investing above a certain threshold which could mean anything.

 
AJWarriors
Re: New Owners
AJWarriors (IP Logged)
01 October, 2018 11:13
I just took it as investing in the team,which we need and at this moment in time is probably the most important thing.

 
usa warrior
Re: New Owners
usa warrior (IP Logged)
01 October, 2018 11:15
We were told previusly that part of the deal was a minimum level of squad investment. I took it to mean the same as AJ, but it does need fleshing out.

I'm hoping we hear from them soon.

 
MESSAGES->author
Re: New Owners
Faithful_City (IP Logged)
01 October, 2018 11:16
Mr Errol Pope some background to the companies he has been a director of

http://www.sixwaysrugby.co.uk/Stats/2018-19/Images/ErrolPope.jpg


Where is he going to get the asking price from (£27million) and then "donate" £5million a year at least to prop us up.

maybe they haven't paid the asking price but have promised to pay a portion of the value uplift when the land gets developed?

JP

 
A38
Re: New Owners
A38 (IP Logged)
01 October, 2018 11:23
Perhaps it would be best not to make any assumptions based on the (limited) information so far and simply await developments.

 
neiljk
Re: New Owners
neiljk (IP Logged)
01 October, 2018 11:29
I agree, we shouldnít make any assumptions either negative or positive until we know more.

However we should look at anything put out critically and sceptically.

 
WorcesterSauce
Re: New Owners
WorcesterSauce (IP Logged)
01 October, 2018 11:29
There's very little out there at the moment and who knows how this will play out. What this has shown is that there are many on here that buy PR guff and are either deliberately unwilling to read experiences of fans of other clubs or naive. I have a good mate from uni who is a Swindon Town fan. I haven't spoken to him today but I did a few months ago when a certain name was being spoke about. He was less than complimentary about said person. You can all probably guess who "said person" is.

 
Sheldon
Re: New Owners
Sheldon (IP Logged)
01 October, 2018 11:38
I guess we should trust the club and Bill Bolsover who have spent a long time to get the right buyer

The phrase investing above a certain threshold in itself is meaningless but consistent with the type of language used on the Brookspoke website. It may be fine or even quite encouraging.

If we see two SA props and a second row turning up in the next couple of weeks then I think we can be positive. I doubt they can run the risk of relegation in their first year.

Normally a statement from the new owners and board structure would be forthcoming.

 
Sheldon
Re: New Owners
Sheldon (IP Logged)
01 October, 2018 11:44
[scottpriestnall.wordpress.com]

Maybe some clues as to the type of developments. Looks interesting!

 
Zulu Warrior
Re: New Owners
Zulu Warrior (IP Logged)
01 October, 2018 11:46
Quite difficult to tell after reviewing Brooks, Pope & Co at Companies House. There is no history shown of Mr Pope or fellow directors with other companies so it is difficult to view track record. David Seymour is not listed as a director of Brooks, Pope & Co. However the press release does not state the company name so this is presumably a new start up, as yet not listed at Co House. I think best to assume the old board has done its due diligence using professional advisors and are confident that the new owners are the right ones for the clubís future.

 
neiljk
Re: New Owners
neiljk (IP Logged)
01 October, 2018 11:49
There is record, you just need to look a little harder.

Right now Iíd be keeping an open mind but assuming nothing.

 
MESSAGES->author
Re: New Owners
Faithful_City (IP Logged)
01 October, 2018 12:06
Accounts

Registered office address
The Lansdowne Building, No 2 Lansdowne Road, Croydon, Surrey, CR9 2ER 

Company status - Active
Company type - Private limited Company
Incorporated on - 1 May 2015

Accounts
Next accounts made up to  31 May 2018 
due by 28 February 2019

Last accounts made up to 31 May 2017
Confirmation statement

Next statement date  9 September 2018 
due by 23 September 2018

Last statement dated 9 September 2017
Nature of business (SIC)
ē	64929 - Other credit granting not elsewhere


Current officers

3 officers / 0 resignations

BROOKS, Gail
Correspondence address
The Lansdowne Building, No 2 Lansdowne Road, Croydon, Surrey, CR9 2ER 
Role ACTIVE
Secretary
Appointed on
1 May 2015

HERON, Lesley
Correspondence address
The Lansdowne Building, No 2 Lansdowne Road, Croydon, Surrey, CR9 2ER 
Role ACTIVE - Director
Date of birth - April 1970
Appointed on - 20 January 2017
Nationality - British
Country of residence - England

Occupation - Director
POPE, Errol
Correspondence address
41 Redstone Hill, Redhill, Surrey, United Kingdom, RH1 4BG 
Role ACTIVE - Director
Date of birth - February 1967
Appointed on - 1 May 2015
Nationality - British
Country of residence - United Kingdom
Occupation - Investment

Incorporated 2015 and can now take over a Premiership Rugby Club with assets of £27million and running at an annual loss of over £5million???

This company has been setup just for this purpose it has very few assets AND they have brought in an ex rugby player who owns a coffee shop with no business experience and not rugby management experience.

They're avin a larf

JP



Edited 1 time(s). Last edit at 01/10/2018 12:10 by Faithful_City.

 
MESSAGES->author
Re: New Owners
Faithful_City (IP Logged)
01 October, 2018 12:08
http://www.sixwaysrugby.co.uk/Stats/2018-19/Images/AccountsPope.jpg


JP

 
MESSAGES->author
Re: New Owners
Abberley (IP Logged)
01 October, 2018 12:14
Quote:
Faithful_City
Extract from their website
Quote:
Lesley Heron, has been in property development for encrouching two decades.

Every day's a School Day on this message board winking smiley

Quote:
Definition: encrouched

crouched in a certain position/area/location

[www.urbandictionary.com]


 
MESSAGES->author
Re: New Owners
Faithful_City (IP Logged)
01 October, 2018 12:16
This is a direct copy of what's on their website.

Shows exactly what we now have running our club

JP

 
MESSAGES->author
Re: New Owners
Faithful_City (IP Logged)
01 October, 2018 12:23
More Company Info

Who are Broga? a Mutual company run by one of their directors

JP

 
MESSAGES->author
Re: New Owners
Faithful_City (IP Logged)
01 October, 2018 12:25
Broga Companies Info

At least 5 years old and rune by the husband of one of the directors go Brooks Pope

JP

 
MESSAGES->author
Re: New Owners
Faithful_City (IP Logged)
01 October, 2018 12:29
Who are Brogo(UK) Ltd

They are a property development business based in Croydon, oh yes where Errol Pope lives

Borga(UK) Limited

and guess what they are based in the same building as Brooks Pope & Co

Brooks Pope & Co

AND our club stadium and land are not going to be developed, somebody is really taking the p1ss

JP



Edited 1 time(s). Last edit at 01/10/2018 12:34 by Faithful_City.

 
TRIXTA
Re: New Owners
TRIXTA (IP Logged)
01 October, 2018 12:31
I am not a specialist in matters like this but looking at the backgrounds of the consortium (particularly the rather amateur website of the company owned by Mr Pope), they appear to be individuals who specialise in raising finance for projects rather than having the monies to invest themselves. Could this be a situation where Mr Pope has arranged borrowing to carry out the purchase/future investment by using the assets of the club as security? It wouldn't be the first time it has happened in sport - didn't the Glazers acquire Man Utd through similar methods? Like others, I am completely in the dark as to what is going to happen and I hope that mine and others' suspicions are unfounded and the intentions of the new owners are honourable. As others have said, Bill Bolsover and the other members of the Board are no fools and I would like to think that they can be trusted to act in the best interests of the club and their supporters, as I am sure they have.

 
neiljk
Re: New Owners
neiljk (IP Logged)
01 October, 2018 12:43
Tbf Glazer had a net worth of over 4 billion dollars. Not really a comparison worth making.

Broga look small time if you look at their website. Photos of some, albeit nicely, finished bathrooms...

Perhaps weíll hear from the new owners shortly.

 
Humps for 1 Mile
Re: New Owners
Humps for 1 Mile (IP Logged)
01 October, 2018 12:46
The deal is done.

Bill Bolsover and Cecil know far more about this sort of thing than me.

I trust their judgment.

The ownership uncertainty is now over.

Let us hope for a successful future.

Good luck to the new owners and welcome to Worcester Warriors.

 
Eco Warrior
Re: New Owners
Eco Warrior (IP Logged)
01 October, 2018 12:50
Reading the blurb about Brooks Pope and Co. the first paragraph contains at least two "schoolboy" grammatical errors.

ie compliment where it should be complement and letter of credits where letters of credit is the preferred (and correct) way.

After that I got bored and not a little disheartened that the can't even get the basics right.



Edited 1 time(s). Last edit at 01/10/2018 12:51 by Eco Warrior.

 
Sheldon
Re: New Owners
Sheldon (IP Logged)
01 October, 2018 13:11
It may be a false assumption that the individuals businesses are involved in the deal at all. They may have raised finance through an entirely separate vehicle. Websites are merely that . We don't really have anything to go on except the board took some time to come up with the deal and they will have checked information and security that we know nothing about.

 
MESSAGES->author
Re: New Owners
Faithful_City (IP Logged)
01 October, 2018 13:16
But if they canít even put a professional website together what does that tell us about their attention to detail.

 
B-road
Re: New Owners
01 October, 2018 13:21
Quote:
Faithful_City
But if they canít even put a professional website together what does that tell us about their attention to detail.

Nothing

 
Day tripper
Re: New Owners
Day tripper (IP Logged)
01 October, 2018 13:30
It was my understanding that one of the main sticking points on this sale was the fact that the land was not included in the sale only the ground and facilities. If the land has been retained by sixways holdings then it is good news as these newbies wont be able to sell it for housing as previous concerns have suggested.

 
MESSAGES->author
Re: New Owners
Faithful_City (IP Logged)
01 October, 2018 13:34
In your eyes, not in mine it tells me a great deal

JP

 
neiljk
Re: New Owners
neiljk (IP Logged)
01 October, 2018 13:44
I donít really care about the website. More pertinent is the lack of publicly available information on Errol Pope and the businesses we are assuming to be associated with him are pretty small scale.

The information issued so far is pretty scant and not very informative. We donít know what has been sold, what has been retained and what the plans of the new consortium are.

 
MESSAGES->author
Re: New Owners
TeflonTed (IP Logged)
01 October, 2018 13:55
Several quick thoughts:-

Downsides.....
The Brooks Pope website is indeed very worrying......never mind grammatical errors, before assessing errors one needs to be sure of which language is in use, this is barely English at all. Concerns me that Mr Pope would put his name to this, not that itís Brooks Pope taking us over anyway.

Mr Popeís address for correspondence, on public record as 41 Redstone Hill RH14BG, looks a little underwhelming for someone able to fund £mís.

Upsides......
Bill Bolsover and Cecil Duckworth are honourable, thoroughly experienced and successful businessmen, decent human beings.

It beggars belief that McCrory et al are such a bunch of shysters as some seem to think, and have managed to fool Bill and Cecil.

Wait and see mode is activated.

Meanwhile, I look forward with ENORMOUS anticipation to a ST holders evening with Jed & Co, should be first rate entertainment.

 
MESSAGES->author
Re: New Owners
knightstemplar (IP Logged)
01 October, 2018 13:59
I think more information is needed here to make a judgement.

New Owners of what?! P Shares? Land? Leases?

 
ROLLO on tour
Re: New Owners
ROLLO (IP Logged)
01 October, 2018 14:00
JP we have known each other some time, can I suggest that for the time being we see what transpires and not shoot for the hip.It get the impression that it may be a disappointment to some if this is actually success. Do we have no faith in Cecil and Bill ? Dave Allen still attends most games I do not think he would sell us short.

 
MESSAGES->author
Re: New Owners
Jim H (IP Logged)
01 October, 2018 14:01
From a Bristol supporters perspective I hope this works out for you. But, the new owners dont come across as Craig/Lansdown types, i.e a history of supporting the club or area and ton of money to spend.

McCrory has a long history across football clubs (Bristol Rover, Swindon, Hereford, Torquay amoug others) and there seems little good about him. Indeed it's not that easy to look into as Google have removed a load of links due to requests.

Faithful City, it would be worth looking to see if there's a Tommy Agombar link in this new set up.

Fingers crossed for you that just as it goes on the field it doesn't go all Malcolm Pearce on you.

 
Ronster
Re: New Owners
Drahm for England (IP Logged)
01 October, 2018 14:02
I second Ted's response. Cecil's a canny chap. They surely won't have been able to pull the wool over his eyes!

 
GrubberKk
Re: New Owners
GrubberKk (IP Logged)
01 October, 2018 14:02
Quote:
TeflonTed
Several
.

Mr Popeís address for correspondence, on public record as 41 Redstone Hill RH14BG, looks a little underwhelming for someone able to fund £mís.

.

There are various similarities above with what happened at Hereford (could easily be coincidence, so not saying anything) - however this little comment is exactly what happened several times during the dark days. The ownership changed hands several times, and each time the address of the new owner was relayed to a completely obscure address, usually in London (although one was in Lancashire at one time if I remember correctly).

Turns out, the offices weren't there at all. Be interesting to search that address - could very well be several companies registered to the same address - like a holding address. That was the case with Hereford.

Personally, the warning lights have come on with the above purely because of the one name involved and who he is associated with. Could very well be the distrust built up inside me and many others at the time Hereford United was owned by the fraudsters and eventually wound up.


EDIT - link to building here - doesn't mean anything either way - [www.rent-offices.com]



Edited 1 time(s). Last edit at 01/10/2018 14:06 by GrubberKk.

 
MESSAGES->author
Re: New Owners
Abberley (IP Logged)
01 October, 2018 14:17
Quote:
ROLLO
Dave Allen still attends most games

Interesting, as I thought I had read (probably on here - so possibly wrong!) that Dave Allen lived in Switzerland?
I had assumed (again, possibly incorrectly) that he would be 'non-resident' for tax purposes, which would have made regular attendance tricky?

 
MESSAGES->author
Re: New Owners
TeflonTed (IP Logged)
01 October, 2018 14:18
Grubber, 41 Redstone Hill certainly doesnít look like an accommodation address. Itís a decent detached house, probably well clear of half a million quid in Surrey, but not what Iíd expect for someone allegedly able to fund £mís.

 
GrubberKk
Re: New Owners
GrubberKk (IP Logged)
01 October, 2018 14:19
Apologies, I was referring to the company address.

 
MESSAGES->author
Re: New Owners
TeflonTed (IP Logged)
01 October, 2018 14:22
Quote:
GrubberKk
Apologies, I was referring to the company address.

Yes, no worries, the Lansdowne Building looks decent enough as well.

 
Sheldon
Re: New Owners
Sheldon (IP Logged)
01 October, 2018 14:41
I heard Dave Allen flies in and out for games . Given there are less than 20 he should be able to retain his non resident status

 
Zulu Warrior
Re: New Owners
Zulu Warrior (IP Logged)
01 October, 2018 14:46
According to Zoopla 41 Redstone Hill was sold in March 2018 and is valued at £1,042,000. It may or may not be Mr. Popeís residence. There are plenty of ways of raising finance, as long as you have credible directors and a decent business plan. I suspect all will work out well, but time will tell.

 
MESSAGES->author
Re: New Owners
Abberley (IP Logged)
01 October, 2018 15:07
Quote:
TeflonTed
Quote:
GrubberKk
Apologies, I was referring to the company address.
Yes, no worries, the Lansdowne Building looks decent enough as well.

According to the website, they have new offices with an upmarket W1 postcode.

 
Teme Dream
Re: New Owners
Teme Dream (IP Logged)
01 October, 2018 15:14
Does anyone know a link between the four amigos?
Seems to me that a few business men have got together with a view to making money for themselves and have recruited AN Other ex-rugby player in an attempt to keep the fans happy.

I will be pleasantly surprised if Bolsover, MacKay and Duckworth are still on the board in 12 months time.

 
Patgadd
Re: New Owners
Patgadd (IP Logged)
01 October, 2018 15:15
Quote:
Sheldon
I heard Dave Allen flies in and out for games . Given there are less than 20 he should be able to retain his non resident status

David Allen used to fly in for games even before he invested any money. I can't speak for this season, but last season Greg was in regular attendance at home games, and came down to speak to me a couple of times after I'd posted stuff on here.

 
MESSAGES->author
Re: New Owners
TeflonTed (IP Logged)
01 October, 2018 15:19
Quote:
Patgadd
Quote:
Sheldon
I heard Dave Allen flies in and out for games . Given there are less than 20 he should be able to retain his non resident status

David Allen used to fly in for games even before he invested any money. I can't speak for this season, but last season Greg was in regular attendance at home games, and came down to speak to me a couple of times after I'd posted stuff on here.

Presume he was navigating by trouser colour?

 
MESSAGES->author
Re: New Owners
Faithful_City (IP Logged)
01 October, 2018 15:21
The 4th member of the consortium fills me with even less optimism

Scott Priestnall

Guess when he became an investment advisor - 2015 after many jobs in the bar and leisure business. Mind you he has worked in the football business.

JP

 
usa warrior
Re: New Owners
usa warrior (IP Logged)
01 October, 2018 15:24
Isn't professional rugby the entertainment/leisure business? Maybe he can sort the bars out?

 
MESSAGES->author
Re: New Owners
TeflonTed (IP Logged)
01 October, 2018 15:28
No explanation as to where the money is actually coming from......have I missed it somewhere?

Details....details.....

Oh, and on that subject, whoís minding the offie results page? The Cavís game v Sale Jets remains scoreless, although the match report is there if you click through.

Details.....details......

 
usa warrior
Re: New Owners
usa warrior (IP Logged)
01 October, 2018 15:29
Not missed it, just that Pope is the consortium leader. Nothing beyond that currently.

 
MESSAGES->author
Re: New Owners
West Brom Warrior (IP Logged)
01 October, 2018 15:39
Quote:
Faithful_City

and guess what they are based in the same building as Brooks Pope & Co


It is an excellent way to avoid paying business rates, I have 4 companies in my office of which 3 I set up to avoid business rates I have a desk and a phone which is there office (Ps the phone is not plugged in as it does not have to be). The 3 companies have a turnover of £1 a year each. It saves a significant amount of money each year which I am able to invest in my apprenticeship scheme instead.

 
Brummagem Bertie
Re: New Owners
Brummagem Bertie (IP Logged)
01 October, 2018 15:41
I hate to disabuse those putting their trust in Cecil and Bill but the sale could have very little to do with them.

We've been told several times by BB himself that Greg was making the decisions. For all we know Bill and Cecil could be very worried about the motives and experience of the new owners but there have been several hints that if Greg decides something he's not the sort to listen to anyone counselling caution.

Bill and Cecil could be very concerned by the sale and have agreed to stay involved so they can keep an eye on things and step in with their consortium if it all goes fruit shaped. (I'm not going to say what kind of fruit in case it kicks off a whole other debate! ;-) )



Whatever you do, do it safely!

 
ROLLO on tour
Re: New Owners
ROLLO (IP Logged)
01 October, 2018 15:42
Dave Allen lives in the home counties near to my sister, they use the same chauffeur company. He attends most matches and is I am told a very nice down to earth man.

 
MESSAGES->author
Re: New Owners
Faithful_City (IP Logged)
01 October, 2018 15:49
A little more digging has found another company set up by two of this group

MeCrory and the 4th member Scott Priestnall

Quote:

Southwick Group Limited is an active company incorporated on 29 June 2017 with the registered office located in Orpington, Greater London. Southwick Group Limited has been running for 1 year 3 months. There are currently 3 active directors and 0 active secretaries according to the latest confirmation statement submitted on 28th June 2018.

Directors:
Mr Russell Martin, Mr Gerard Mccrory & Mr Scott Martin Priestnall

This business was only setup 15months ago


Quote:
Mustual companies

Southwick 1973 Limited
Mr Russell Martin, Mr Gerard Mccrory and Mr Scott Martin Priestnall are mutual people
ACTIVE

CV Trading Ltd
Mr Scott Martin Priestnall is a mutual person.
ACTIVE

Yumchaa Soho Limited
Mr Scott Martin Priestnall is a mutual person.
ACTIVE

Camden No.9 Ltd
Mr Scott Martin Priestnall is a mutual person.
ACTIVE

Sport And Leisure Finance Ltd
Mr Gerard Mccrory is a mutual person.
ACTIVE

F4B Holdings Limited
Mr Russell Martin is a mutual person.
ACTIVE

F4B Commercial Limited
Mr Russell Martin is a mutual person.
ACTIVE

SLF Holdings Ltd
Mr Gerard Mccr

With all these business's how are this crew are going to run and turn round a loss making "PREMIERSHIP" rugby club.

You're avin a larf

The likely Lads sound more like this lot.

JP



Edited 1 time(s). Last edit at 01/10/2018 15:54 by Faithful_City.

 
MESSAGES->author
Re: New Owners
West Brom Warrior (IP Logged)
01 October, 2018 15:57
JP you know people set up a business before they take over the club? Its not going to hold many assets before hand? Why would they stick £30 million in the bank saying well hopefully one day we will take over Worcester Warriors so best have it there in case someone does some digging on the internet about us.

I am highly amused that people think that 4 people could pull the wool over Premiership Rugby who have to approve the takeover, the current board, banks and financial institutions who will be lending them money or securing assets against debts etc. all to take over a loss making rugby club. As for the idea that Cecil and Bill maybe staying on to keep an eye on them neither of them would have a seconds thought but to walk away from the club if they had even half a doubt about those involved in the takeover.

 
MESSAGES->author
Re: New Owners
Faithful_City (IP Logged)
01 October, 2018 16:00
Rollo just because they are successful businessmen does not mean they can't be hoodwinked by some very clever professional entrepreneurs. It has happened to much bigger people than Cecil and Bolsover.

A judge has given his judgement on the honesty of Mr McCrory are you saying he is wrong and that Hereford FC and Swindon FC are also wrong and he actually is a misunderstood saviour.

I don't need to give him any time, but he does need to show he really is going to look after OUR rugby club.

When is that move to Birmingham organised?

JP

 
MESSAGES->author
Re: New Owners
Faithful_City (IP Logged)
01 October, 2018 16:05
I didn't make any comment about how much money they had in their accounts or myriad of companies.

I just feel they are chancers and have spied an opportunity to make a great deal of money in the mid-future.

Invest money for a couple of seasons let the club then slowly die. Worcester grows even bigger and demand for residential and commercial land grows so does the value.

I have no faith whatsoever that this is going to turn out well for OUR club.

JP

 
Freypal
Re: New Owners
Freypal (IP Logged)
01 October, 2018 16:09
Basically no one knows. As has been discussed in detail, there are easier and cheaper ways to obtain development land. On the other hand there are plenty of worrying stories at previous clubs.

I await a statement from the new consortium as to their reasons and motives. I also have to assume that the relevant institutions and experts have done their due diligence on the sale. We cannot make assumptions about the availability of funding from the internet as we don't know the detail of the deal.

Interesting times. Hopefully it is the start of a sustainable future.

 
MESSAGES->author
Re: New Owners
Faithful_City (IP Logged)
01 October, 2018 16:17
The consortium has to prove to the rugby world they are in this for the long haul and they can provide a secure employment for players. If they donít do that players will not take chances with their careers and livelihood.

Recruiting the best players will be impossible as will retaining our young stars.

Actions speak louder than words so letís see.

JP

 
Mr Sheens
Re: New Owners
Mr Sheens (IP Logged)
01 October, 2018 16:26
Oh my oh my this stinks of BHS. Current owner wanted rid quick and dressed up spiv chancers as assured investors. Going a little further back Iíve had flashbacks to the MG Rover rescue by the Towers Shower. Again, BMW just wanted shot. Weíre toast.



Edited 2 time(s). Last edit at 01/10/2018 16:33 by Mr Sheens.

 
MESSAGES->author
Re: New Owners
knightstemplar (IP Logged)
01 October, 2018 16:41
McCory will be running the Club on a weekly basis

[www.worcesternews.co.uk]

 
Brummagem Bertie
Re: New Owners
Brummagem Bertie (IP Logged)
01 October, 2018 16:50
Quote:
West Brom Warrior
JP you know people set up a business before they take over the club? Its not going to hold many assets before hand? Why would they stick £30 million in the bank saying well hopefully one day we will take over Worcester Warriors so best have it there in case someone does some digging on the internet about us.
I am highly amused that people think that 4 people could pull the wool over Premiership Rugby who have to approve the takeover, the current board, banks and financial institutions who will be lending them money or securing assets against debts etc. all to take over a loss making rugby club. As for the idea that Cecil and Bill maybe staying on to keep an eye on them neither of them would have a seconds thought but to walk away from the club if they had even half a doubt about those involved in the takeover.

Plenty of rugby clubs, big businesses, vastly more experienced businessmen, financial advisors, accountants, banks, regulatory bodies, etc. have had the wool pulled over their eyes by chancers in the past, as Mr Sheens has pointed out. I'm highly amused that someone thinks that Warriors are so different that it's impossible that it might happen to us.

As for the suggestion that Cecil and Bill would simply walk away from the all the money, time, blydi hard work, passion and emotion that they have invested in the club over decades, rather than stick around to keep an eye on the shop, my mind is well and truly boggled.



Whatever you do, do it safely!

 
neiljk
Re: New Owners
neiljk (IP Logged)
01 October, 2018 17:12
I donít think Bill and Cecil get a say, not in any meaningful sense as they arenít the owners.

The implication of the article is that the details behind the sale of the club are opaque and itís not really clear where the funds have been secured from and how. There has been no statement from the new owners, Iím sure there will be in due course, but it is a little odd.

Time will tell, but I donít have a warm fuzzy feeling. For me the uncertainty is just starting.

 
yellow450
Re: New Owners
Yeller (IP Logged)
01 October, 2018 17:16
Quote:
knightstemplar
McCory will be running the Club on a weekly basis
[www.worcesternews.co.uk]


The comments made by Bill Bolsover here are embarrassing and suggest that the sale was a get out at any cost move by the current incumbents. I don't know about due diligence, it reads like he has no idea what is going on, which could explain why this bunch has got its hands on the club.

 
neiljk
Re: New Owners
neiljk (IP Logged)
01 October, 2018 17:19
[www.bbc.co.uk]

Read this very carefully.

Bolsover believes Pope is the main source of funding.

 
MESSAGES->author
Re: New Owners
knightstemplar (IP Logged)
01 October, 2018 17:27
"But Bolsover revealed Alcester-based McCrory would be running the club."

Bolsover continued: ďJed said he doesnít know a lot about rugby but he likes what they can do with what is happening in Worcester."


What is happening in Worcester?!

 
Freypal
Re: New Owners
Freypal (IP Logged)
01 October, 2018 17:31
Sigh. Having read that article my hope for the best is already fading. Doesn't read well at all.

 
MESSAGES->author
Re: New Owners
Faithful_City (IP Logged)
01 October, 2018 17:45
Quote:

"Errol has known Jed a long time. I believe he is the main up front funder, with Jed alongside him. But Jed will very much be the driving force.


ďI believeĒ, I effing ďbelieveĒ what a bl00dy shambles.

JP

 
HerefordBridges
Re: New Owners
HerefordBridges (IP Logged)
01 October, 2018 17:49
As a Hereford United Fan, all I can say is this is not a positive outcome. Hope that theyíve done due diligence unlike Herefordís previous chairman.

 
Old Col
Re: New Owners
Old Col (IP Logged)
01 October, 2018 17:50
So--there was no one else in the frame ,not ever .Taken over by 3 absentees and someone who doesn't know the game with a proud record of managing a soccer club for a little while . A very little while .Looks good ,doesn't it ?

 
Superted1
Re: New Owners
Superted1 (IP Logged)
01 October, 2018 18:00
Edward Griffiths not suitable but this consortium is, I have a bad really bad feeling about this.

 
MESSAGES->author
Re: New Owners
Faithful_City (IP Logged)
01 October, 2018 18:10
Cecil, BB and the rest of the board will have had little to do with this apart from maybe making sure they are there to try and save the club.

As BB told us on several occasions ďit does not matter what we and the board say because Greg Allen makes dictatorial/ownership descions, it will be his descission.Ē

JP

 
neiljk
Re: New Owners
neiljk (IP Logged)
01 October, 2018 18:10
Given at Swindon the wage bill was slashed in half I guess weíll probably see quite quickly what the intent is with next yearís squad. Retentions and signings will be the test in the short term.

To support a club like Worcester a strong funding source is required with a willingness to invest long term.

So the big question for me is what is the true source of the funding.

 
Rinkadink
Re: New Owners
Rinkadink (IP Logged)
01 October, 2018 18:13
Quote:
Superted1
Edward Griffiths not suitable but this consortium is, I have a bad really bad feeling about this.

That's the crazy thing to me; they may have put in a lower bid than your previous owners had wanted but would expect some movement from both sides to reach the desired outcome which probably would have been Wuss' best bet.

I am a little concerned for you guys, I don't see where the money is coming from? With that said I hope these fears are proven to be unwarranted and you get the progress you deserve so we at Bris can compete with you at the top of the prem/Europe rather than elsewhere as it has in the past.

 
centrethere
Re: New Owners
centrethere (IP Logged)
01 October, 2018 18:15
Totally underwhelmed by the press release and Bolsover comments to BBC sport.

'As a Board we believe the new owners have inherited a Club with huge potential both on the pitch and commercially. We would like to thank Livingstone Partners for their hard work over the last year to facilitate the Clubís sale. ďWe would also like to thank Sixways Holdings Limited and Cecil Duckworth, who will remain as President, for their past investment and support.Ē [edited]

and to bbc

"I'm not prepared to discuss the amount. I don't think that's right. But the assets of this club are very large. It was important that enough money was put in not just to buy the assets, but to see the club go forward into the future.

'If ...we had no other offers...have had to do to keep this club going. ...We just wanted to make sure there was a backstop. [very edited]

and statement - 'Warriors, who bought the freehold on the 50-acre Sixways site back from the old Worcester Rugby Club, were valued a year ago at £26.7m when they first put the club on the market'.

All this to me sounds so like no choice, and the Jed McCrory group like a dog with a bone, who eventually offered a fire sale price and got it, simply as no other viable option.

On the positive side and hoping that McCrory and co. have more business acumen these days, that they may be able to balance the books (see the comparative figures of all the other premiership clubs 2016/17 which was posted recently).

But apart from using the 4?5?G pitch more what has been said so far. Jacksh*t. Surely a new owner / consortium would put out a positive statement concurrently?

Hotel complex off the M5 is a long term idea to say the least and will no doubt involve heavy debt. - this has to be a massive gamble with the club's perilous state in any event.

So in summary - 'bought on the cheap 'cause no other offer' and the viability of the club extremely likely to go from bad to worse'

 
FlipFlop
Re: New Owners
FlipFlop (IP Logged)
01 October, 2018 18:29
Well McCrory may not be the figurehead, but heís in there which given past publically available articles about him and Ďassociatesí in previous ventures is not a positive for me. I stated if he got near the club I would move away, which I now plan to do.

I watch from afar and drop out from commenting on here as unless I see the on field I canít comment on the good, bad or the ugly.

For those keeping with it, hope it goes better than I expect it to and your support is merited.

For the record, I donít plan to go to climb above a success bus in Cov or Glaws, so no hypocritical sneers please.

 
centrethere
Re: New Owners
centrethere (IP Logged)
01 October, 2018 18:36
more in WN

'Latest available accounts show Warriors lost an eyewatering £8.1million for the 2016-17 season due in part to spiralling wages. Had it not been for shareholders writing off loans totalling more than £20million, losses for the previous season would have come to £6.6million with the club having shipped £5.5million in the year before that.'

Really think this is lazy journalism and think this is fake news. Have the shareholders really just given away £20m?

From memory didn't the £26m not include the shareholding debt/value, with some of that more than likely bought by the new group? Doubt we will ever know exactly, but 50p in the pound anyone?

 
WorcesterSauce
Re: New Owners
WorcesterSauce (IP Logged)
01 October, 2018 18:45
Quote:
FlipFlop
Well McCrory may not be the figurehead, but heís in there which given past publically available articles about him and Ďassociatesí in previous ventures is not a positive for me. I stated if he got near the club I would move away, which I now plan to do.
I watch from afar and drop out from commenting on here as unless I see the on field I canít comment on the good, bad or the ugly.

For those keeping with it, hope it goes better than I expect it to and your support is merited.

For the record, I donít plan to go to climb above a success bus in Cov or Glaws, so no hypocritical sneers please.

Fair enough. A lot of respect for this. I've got my season ticket for this season so i'll go and then reassess at the end of the season. Before it was a no brainer and not even a question that entered my head a- i'd renew.

 
A38
Re: New Owners
A38 (IP Logged)
01 October, 2018 18:46
I very much doubt that we shall ever know the exact details of the deal. They will be confidential between the two parties. We are not in plc territory;nor are supporters, even long standing STHs, shareholders.

But that said we are very much "emotional shareholders" and it is inevitable, only natural that we should take a close interest in exactly who is to run the club in the future.

However could I just advise caution? Conclusions can be jumped to. Perhaps we should all wait and see what actually happens?



Edited 1 time(s). Last edit at 01/10/2018 18:49 by A38.

 
Brummagem Bertie
Re: New Owners
Brummagem Bertie (IP Logged)
01 October, 2018 19:03
centrethere, the writing off of the £20m to leave the club "debt free" for its sale, is a matter of record and written in the filed accounts. If the loss last year was not written off then it will probably have been reflected in the sale price, whatever that was.

It's not unknown, however, for owners to write off debt/loans on a sale: when Sarries co-owner was bought out by Nigel Wray earlier this year he reportedly waved goodbye to £25m.



Whatever you do, do it safely!

 
ROLLO on tour
Re: New Owners
ROLLO (IP Logged)
01 October, 2018 19:26
As A38 has said let us wait and see. There has been a of emotional, and frankly unbalanced twaddle talked on this thread.
Actions will speak louder than words and that is what I will judge matters on.
I have every wish for this to be a success; as I have posted earlier I think that there are those who will be disappointed if is is anything other than an unmitigated disaster.

 
centrethere
Re: New Owners
centrethere (IP Logged)
01 October, 2018 19:30
Yes, but is it not reflected in the sale price from which the shareholders can take their cut?

(And I seem to remember adding up the figures including a certain amount of debt which came to around £26m - but then again I know nothing and sometimes get it wrong)

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