| "We want Evans Out"... 07:05 - Mar 4 with 32311 views | IPS_wich |
Genuinely curious - what's to stop Evans winding us up as a going concern?
There seems to have been a number of indications over the years that he has tried to sell the club but hasn't found anyone interested.
What's to stop him in May, after 2-3 months of growing protests and vitriol aimed at him (because sadly I'm resigned to a mid-table finish), just thinking f**k it, I'm sick of subsidising this nonsense, the fans don't want me, so I'm out...and just putting us into receivership, selling Playford Road and cashing out??
Not that this should temper our protest, but just thinking about the consequences of a sustained campaign of "Evans out" |  | | |  |
| (No subject) on 08:43 - Mar 4 with 6803 views | PrideOfTheEast |
| (No subject) on 07:37 - Mar 4 by Oxford_Blue |
No - the minority shareholders have unfair prejudice rights and could seek to prevent any such decision by Evans. Don’t forget Evans owns 87.5% of the club but the PLC owns the rest. |
There’s nothing that prevents him from discontinuing to fund it, which would essentially have the same effect.
Find a genuine buyer with good intentions (and of course pot loads of money) and he’ll walk away. | | | |
| (No subject) on 08:47 - Mar 4 with 6790 views | artsbossbeard |
| (No subject) on 08:43 - Mar 4 by PrideOfTheEast |
There’s nothing that prevents him from discontinuing to fund it, which would essentially have the same effect.
Find a genuine buyer with good intentions (and of course pot loads of money) and he’ll walk away. |
I've just popped down to the club shop and ME's being chased around the practice pitch by a load of Saudi investors all waving large cheques at him.
He's having to shout "FORM AN ORDERLY QUEUE!!" whilst fighting them off with a sh1tty stick.
Note: This isn't a dig at your post, it's a general dig. [Post edited 4 Mar 2020 8:49]
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| Please note: prior to hitting the post button, I've double checked for anything that could be construed as "Anti Semitic" and to the best of my knowledge it isn't. Anything deemed to be of a Xenophobic nature is therefore purely accidental or down to your own misconstruing. | | Poll: | Raining in IP8 - shall I get the washing in? |
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| ITFC plc shareholders on 08:47 - Mar 4 with 6789 views | PrideOfTheEast |
| ITFC plc shareholders on 08:43 - Mar 4 by IPS_wich |
But I don't get the sense that his business is built upon publicity - we've seen plenty of articles over the years that his business is a global ticketing and conference business. Is winding up a fading third tier* English soccer team living off glory years 40 years in the past really going to impact his ability to sell tickets to the Olympics** or World Cup - or inhibit his ability to fill a conference in Houston??
*that hurt to write
**I'm assuming he's reasonably exposed to tickets at the Olympics - one would imagine that his business will take a hit if they get cancelled due to the Coronavirus. |
More concerning I expect is that his conference and events business will likely taking a massive hit at the moment (conferences are being cancelled all left, right and centre) - and that’s the one that makes the money.
Tickets is all but done I understand. | | | |
| ITFC plc shareholders on 08:50 - Mar 4 with 6777 views | Oxford_Blue |
| ITFC plc shareholders on 08:43 - Mar 4 by IPS_wich |
But I don't get the sense that his business is built upon publicity - we've seen plenty of articles over the years that his business is a global ticketing and conference business. Is winding up a fading third tier* English soccer team living off glory years 40 years in the past really going to impact his ability to sell tickets to the Olympics** or World Cup - or inhibit his ability to fill a conference in Houston??
*that hurt to write
**I'm assuming he's reasonably exposed to tickets at the Olympics - one would imagine that his business will take a hit if they get cancelled due to the Coronavirus. |
Yes. The club has a name that is known and if it went bust it would be like derby or forest going bust. It would be major news and Evans would be vilified.
Also, that option isn’t necessary if he can afford to lose six million a year or is able to sell. | | | |
| (No subject) on 09:02 - Mar 4 with 6748 views | TractorWood |
| (No subject) on 07:37 - Mar 4 by Oxford_Blue |
No - the minority shareholders have unfair prejudice rights and could seek to prevent any such decision by Evans. Don’t forget Evans owns 87.5% of the club but the PLC owns the rest. |
On what grounds? The business would be insolvent and demonstrably loss making with no evidence to suggest this can be chaged. As the controling party, in substance, he can do what he wants.
I haven't forgotten, it's just immaterial to the situation beyond lip service to governance. |  |
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| "We want Evans Out"... on 09:03 - Mar 4 with 6747 views | NotSure |
| "We want Evans Out"... on 08:15 - Mar 4 by Oxford_Blue |
Agree. He’s prepared to spend £6m a year to avoid this.
Also he would become a vilified figure (far more than now) and face terrible publicity about failure for destroying an old club connected with ramsey and Robson etc. |
I do hate the word "spend" £6m.
Remember some of this deficit is created by Dividends and Amortisation of player values.
He's not moving money from one bank account to another.
I'm thinking he'll get more and more desperate to sell and it will be out of the frying pan and into the fire. |  | | |
| "We want Evans Out"... on 09:08 - Mar 4 with 6737 views | londontractorboy57 |
I agree and if i was Evans i would walk then the Numbskulls really would rue being careful for what they wished for. | | | |
| (No subject) on 09:14 - Mar 4 with 6717 views | Swansea_Blue |
| "We want Evans Out"... on 09:03 - Mar 4 by NotSure |
I do hate the word "spend" £6m.
Remember some of this deficit is created by Dividends and Amortisation of player values.
He's not moving money from one bank account to another.
I'm thinking he'll get more and more desperate to sell and it will be out of the frying pan and into the fire. |
The accounts show he's been putting in several £millions a year in actual cash. It looks to me like he is literally moving money from one bank account to another (from Marcus Evans (IOM) Holdings to the Club).
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| "We want Evans Out"... on 09:23 - Mar 4 with 6700 views | Oxford_Blue |
| "We want Evans Out"... on 09:03 - Mar 4 by NotSure |
I do hate the word "spend" £6m.
Remember some of this deficit is created by Dividends and Amortisation of player values.
He's not moving money from one bank account to another.
I'm thinking he'll get more and more desperate to sell and it will be out of the frying pan and into the fire. |
It’s a cash injection and the accounts show what the operating losses are. The wage bill is more than the turnover. | | | |
| ITFC plc shareholders on 09:29 - Mar 4 with 6684 views | IPS_wich |
| ITFC plc shareholders on 08:50 - Mar 4 by Oxford_Blue |
Yes. The club has a name that is known and if it went bust it would be like derby or forest going bust. It would be major news and Evans would be vilified.
Also, that option isn’t necessary if he can afford to lose six million a year or is able to sell. |
I’m not one to often overtly disagree or criticise a fellow fan, but I think that’s quite delusional. I live in Australia where there is a sizeable obsession with English ‘soccer’. 9 out of 10 people who ask who I support have never heard of Ipswich. I expect it’s the same in most countries outside Europe so I doubt Evans is remotely worried about any reputational impact of winding up ITFC. | | | |
| (No subject) on 09:33 - Mar 4 with 6671 views | monytowbray |
| (No subject) on 08:47 - Mar 4 by artsbossbeard |
I've just popped down to the club shop and ME's being chased around the practice pitch by a load of Saudi investors all waving large cheques at him.
He's having to shout "FORM AN ORDERLY QUEUE!!" whilst fighting them off with a sh1tty stick.
Note: This isn't a dig at your post, it's a general dig. [Post edited 4 Mar 2020 8:49]
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I’m glad our entire fan base isn’t as glass half full as you. Some of the comments and ideas may be a bit tinpot and short sighted but you seem happy to sit on the conveyer belt as it edges to the incinerator. |  |
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| (No subject) on 09:38 - Mar 4 with 6660 views | artsbossbeard |
| (No subject) on 09:33 - Mar 4 by monytowbray |
I’m glad our entire fan base isn’t as glass half full as you. Some of the comments and ideas may be a bit tinpot and short sighted but you seem happy to sit on the conveyer belt as it edges to the incinerator. |
I'm glass half full because I understand that there's not a queue of potential buyers just waiting on ME to say "go on then, it's yours"?
Ok. | |
| Please note: prior to hitting the post button, I've double checked for anything that could be construed as "Anti Semitic" and to the best of my knowledge it isn't. Anything deemed to be of a Xenophobic nature is therefore purely accidental or down to your own misconstruing. | | Poll: | Raining in IP8 - shall I get the washing in? |
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| (No subject) on 09:40 - Mar 4 with 6653 views | noggin |
| (No subject) on 09:38 - Mar 4 by artsbossbeard |
I'm glass half full because I understand that there's not a queue of potential buyers just waiting on ME to say "go on then, it's yours"?
Ok. |
There might be, at the right price. |  |
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| (No subject) on 09:41 - Mar 4 with 6647 views | artsbossbeard |
| (No subject) on 09:40 - Mar 4 by noggin |
There might be, at the right price. |
I can afford to pay Garbutt's wages for about 3 days - shame I've just had to pay for my holiday, really.
Anyone else in? | |
| Please note: prior to hitting the post button, I've double checked for anything that could be construed as "Anti Semitic" and to the best of my knowledge it isn't. Anything deemed to be of a Xenophobic nature is therefore purely accidental or down to your own misconstruing. | | Poll: | Raining in IP8 - shall I get the washing in? |
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| "We want Evans Out"... on 09:42 - Mar 4 with 6641 views | WarkTheWarkITFC |
Do you really think that the businessman Marcus Evans is going to run the club into oblivion and massively damage his reputation as a spiteful child that destroyed a historic club and outraged the whole of football?
His other option is to sell the club for £1 and allow someone else to come in and fund it to the tune of £2m or so a year, which they can easily do by cutting us down to a mid-table League One budget over the next few years, in the hope they can get us back up in a division teams like Wycombe and Fleetwood have a chance of escaping.
Why on earth would Evans destroy the club? Imagine the damage it would actually do to him, not to mention the Town fans who would genuinely threaten to harm the man (I am sure some would take it too far). | |
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| (No subject) on 09:42 - Mar 4 with 6639 views | monytowbray |
| (No subject) on 09:38 - Mar 4 by artsbossbeard |
I'm glass half full because I understand that there's not a queue of potential buyers just waiting on ME to say "go on then, it's yours"?
Ok. |
Evans needs to put it up as an attractive prospect to get them. And he has the power to do so. He’s choosing not to.
If you put an item you want shot of on eBay and the price is too high so no one bids you tweak your starting bid. In this case however Evans is saying no one wants to buy the item but he's not even uploaded the listing.
Say you have a car you can no longer afford as the running costs are too much. Do you stick it on Autotrader and whack a FOR SALE sign in the window? Or do you just keep driving it around in the hope someone randomly offers to buy it from you on the off chance?
This really isn't rocket science. Hell, it's not even that complex in business terms as far as making a decision goes. "This investment is losing me money so I'm going to stop investing in it and sell it to someone else who may be able to turn it around." Sensible people with capitol do it all the time. [Post edited 4 Mar 2020 9:49]
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| (No subject) on 09:47 - Mar 4 with 6616 views | artsbossbeard |
| (No subject) on 09:42 - Mar 4 by monytowbray |
Evans needs to put it up as an attractive prospect to get them. And he has the power to do so. He’s choosing not to.
If you put an item you want shot of on eBay and the price is too high so no one bids you tweak your starting bid. In this case however Evans is saying no one wants to buy the item but he's not even uploaded the listing.
Say you have a car you can no longer afford as the running costs are too much. Do you stick it on Autotrader and whack a FOR SALE sign in the window? Or do you just keep driving it around in the hope someone randomly offers to buy it from you on the off chance?
This really isn't rocket science. Hell, it's not even that complex in business terms as far as making a decision goes. "This investment is losing me money so I'm going to stop investing in it and sell it to someone else who may be able to turn it around." Sensible people with capitol do it all the time. [Post edited 4 Mar 2020 9:49]
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"So, once you've paid me, it's £6m a season to stand still, £8m allows you to potentially stay within FFP rules with no real chance of seeing a profit until, well, never actually. Please sign here, Mr Venky" | |
| Please note: prior to hitting the post button, I've double checked for anything that could be construed as "Anti Semitic" and to the best of my knowledge it isn't. Anything deemed to be of a Xenophobic nature is therefore purely accidental or down to your own misconstruing. | | Poll: | Raining in IP8 - shall I get the washing in? |
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| (No subject) on 09:51 - Mar 4 with 6595 views | monytowbray |
| (No subject) on 09:47 - Mar 4 by artsbossbeard |
"So, once you've paid me, it's £6m a season to stand still, £8m allows you to potentially stay within FFP rules with no real chance of seeing a profit until, well, never actually. Please sign here, Mr Venky" |
He wouldn't get paid much, it's an exercise of offloading it for long term financial benefit rather than a quick profit at this point. | |
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| ITFC plc shareholders on 09:52 - Mar 4 with 6591 views | Oxford_Blue |
| ITFC plc shareholders on 09:29 - Mar 4 by IPS_wich |
I’m not one to often overtly disagree or criticise a fellow fan, but I think that’s quite delusional. I live in Australia where there is a sizeable obsession with English ‘soccer’. 9 out of 10 people who ask who I support have never heard of Ipswich. I expect it’s the same in most countries outside Europe so I doubt Evans is remotely worried about any reputational impact of winding up ITFC. |
I was talking about his businesses and profile in the UK where he is based and his reputation.
It will be a stigma - and he will face personal abuse etc.
It’s not going to happen. | | | |
| (No subject) on 09:53 - Mar 4 with 6585 views | WarkTheWarkITFC |
| (No subject) on 09:47 - Mar 4 by artsbossbeard |
"So, once you've paid me, it's £6m a season to stand still, £8m allows you to potentially stay within FFP rules with no real chance of seeing a profit until, well, never actually. Please sign here, Mr Venky" |
It's not £6m to stand still though is it.
Fleetwood's wage budget is about £4m a year less than ours. They are above us.
Wycombe's is £3m below us. They are above us.
Coventry's is about £2m below us. They are miles above us.
Only Sunderland have a wage bill near ours. So that means there are 7 teams spending less than us and doing better.
A new owner would likely have to drop us from being a top budget to a top 10 budget, potentially only having to find £2m a year instead of £6m and IF they got the right manager and squad, we would only need 5,000 fans extra on the gate at as little £20 a ticket to make all that money back (which may well be achievable if we were riding high as we've dropped from 20,000 to 15,000 this season).
They'll run at a loss but they are not going to be paying people £10k a week like some of the squad will be close to now.
We should be able to 'stand still' in 9th with the 9th biggest budget and that is about £4.5m less than we spend now!
That's 3/4 of what Evans is having to put in. [Post edited 4 Mar 2020 9:57]
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| (No subject) on 09:54 - Mar 4 with 6583 views | footers |
| (No subject) on 09:42 - Mar 4 by monytowbray |
Evans needs to put it up as an attractive prospect to get them. And he has the power to do so. He’s choosing not to.
If you put an item you want shot of on eBay and the price is too high so no one bids you tweak your starting bid. In this case however Evans is saying no one wants to buy the item but he's not even uploaded the listing.
Say you have a car you can no longer afford as the running costs are too much. Do you stick it on Autotrader and whack a FOR SALE sign in the window? Or do you just keep driving it around in the hope someone randomly offers to buy it from you on the off chance?
This really isn't rocket science. Hell, it's not even that complex in business terms as far as making a decision goes. "This investment is losing me money so I'm going to stop investing in it and sell it to someone else who may be able to turn it around." Sensible people with capitol do it all the time. [Post edited 4 Mar 2020 9:49]
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Selling a car or something on eBay is dramatically different to company purchases, especially loss-making ones.
You have no idea what Evans has or hasn't discussed with potential buyers. |  |
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| (No subject) on 09:56 - Mar 4 with 6566 views | artsbossbeard |
| (No subject) on 09:53 - Mar 4 by WarkTheWarkITFC |
It's not £6m to stand still though is it.
Fleetwood's wage budget is about £4m a year less than ours. They are above us.
Wycombe's is £3m below us. They are above us.
Coventry's is about £2m below us. They are miles above us.
Only Sunderland have a wage bill near ours. So that means there are 7 teams spending less than us and doing better.
A new owner would likely have to drop us from being a top budget to a top 10 budget, potentially only having to find £2m a year instead of £6m and IF they got the right manager and squad, we would only need 5,000 fans extra on the gate at as little £20 a ticket to make all that money back (which may well be achievable if we were riding high as we've dropped from 20,000 to 15,000 this season).
They'll run at a loss but they are not going to be paying people £10k a week like some of the squad will be close to now.
We should be able to 'stand still' in 9th with the 9th biggest budget and that is about £4.5m less than we spend now!
That's 3/4 of what Evans is having to put in. [Post edited 4 Mar 2020 9:57]
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So, we're better off with an owner who "get us" but will invest less per annum?
I've read that correctly, yes? | |
| Please note: prior to hitting the post button, I've double checked for anything that could be construed as "Anti Semitic" and to the best of my knowledge it isn't. Anything deemed to be of a Xenophobic nature is therefore purely accidental or down to your own misconstruing. | | Poll: | Raining in IP8 - shall I get the washing in? |
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| (No subject) on 09:56 - Mar 4 with 6564 views | monytowbray |
| (No subject) on 09:54 - Mar 4 by footers |
Selling a car or something on eBay is dramatically different to company purchases, especially loss-making ones.
You have no idea what Evans has or hasn't discussed with potential buyers. |
Well perhaps he should tell us.
Although the paperwork isn't a walk in the park the decision is not a complex one for him to sell if he accepted the short term loss (which is probably better than losing another £25m over the next 5 years to invest in another venture that may profit). | |
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| (No subject) on 10:02 - Mar 4 with 6531 views | footers |
| (No subject) on 09:56 - Mar 4 by monytowbray |
Well perhaps he should tell us.
Although the paperwork isn't a walk in the park the decision is not a complex one for him to sell if he accepted the short term loss (which is probably better than losing another £25m over the next 5 years to invest in another venture that may profit). |
Why would he do that? There's a reason people don't openly discuss business deals of that nature. In fact, it would probably make it harder for him to sell up if he did.
The decision isn't a complex one, you're right- problem is, you still need a buyer. I'm sure ME understands that if he sold the business for a small loss he wouldn't have to keep losing millions a year on us. Not sure why fans think he doesn't know this and needs it pointing out. | |
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| "We want Evans Out"... on 10:05 - Mar 4 with 6522 views | sotd78 |
More likely is that Evans will say sod this and just withdraw all financial support. He would simply go back to being virtually incognito. If he was vitriolic he'd sell the training ground and wind up the academy etc.
We'd then have to operate within the budget we have from income only.
That'd put us towards Division 2 probably.
The fun would really start if a breakaway fan base decided to start a new club - shades of AFC Wimbledon. We could play in Colchester probably since that's a community stadium.
Imagine that? |  |
| Blue shirts/white shorts - sotd78 |
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