Loyalfoot wrote:How did I know you'd pop in.......sad

So thats 3 comments now.
Keep it going

Stan A. Einstein wrote:

Kairdiff Exile wrote:The club, to be spent in the club's interests.

The club is a separate legal identity. So legally you are right. However if you read commentary on the case of Fosse v Harbottle the question becomes one of 'peeping behind the veil'. In other words Newport AFC Limited as I believe we are still called are a legal fiction to allow for limited liability. Not to allow semantics to disguise ownership.

So who owns the club?

Wasn't there a vote held at a meeting some while ago, in the Bisley Suite, in which club shareholders were given a different coloured (pink I think) piece of paper to hold up to vote, on the motion to change the legal name of the football club, to include the word County formally, although the word had been re-introduced some decade or so earlier? That motion, IIRC, was carried. So as far as I understood it, we are NO LONGER Newport AFC Ltd, but formally some other name including the word 'County'?...
Or, as with just about every clear memory I have, the reality differs what what I remember?
Does nobody else recall the vote on the name change, where only a limited number of fans were allowed to vote?...

Think it was over the Riverside. Not the initial meeting but later.
I still do not understand why only a few attendees could vote with this special slip.
Even Gavin was scratching his head and promised to explain at end of the meeting but it all got side tracked as time was running on.

Frank Nouble 3 wrote:Think it was over the Riverside. Not the initial meeting but later.
I still do not understand why only a few attendees could vote with this special slip.
Even Gavin was scratching his head and promised to explain at end of the meeting but it all got side tracked as time was running on.

I thought it was the Bisley, but I may be mistaken. I wonder whether any written records of dates & venues of all meetings exist.

To answer the original question, I personally view the money as belonging to The Club.
The Club belongs to The Trust, acquired with donated monies from Supporters, with limited possibility of refund with small interest, subject to limitations.
The Trust belongs to its paid-up list of members at any given time.

Stan A. Einstein wrote:Let's for once stay on topic. One simple question answers only to the question and if you are not concerned simply ignore.

Newport County football club have assets. The £2,000,000 or so from recent Cup runs.

To whom do you believe the money belongs?

Add a few more pence to that , the West Ham game has been scheduled to be shown on Sky sports.

Stan A. Einstein wrote:Let's for once stay on topic. One simple question answers only to the question and if you are not concerned simply ignore.

Newport County football club have assets. The £2,000,000 or so from recent Cup runs.

To whom do you believe the money belongs?

The assets you refer to may have been paid into a separate account but still form part of the day to day running of the football club - lets compare it to having a current account and a deposit account with the same bank. The money would have been placed into a deposit account so that it is separate to funds used for day to day running of the club and potentially earning some interest. The deposit account will have been raided to improve training facilities at Spytty, perhaps to increase this years budget and other expenditure that hadn't been taken into account when initial financial plans for season 2019/20 were made.

It should be pointed out that you are incorrect in giving a cumulative total from two seasons of cup runs and calling them assets because those "assets" were used to cover the losses made in previous seasons. I'm no accountant but my understanding of "assets" is that it would either be property or items of machinery (or "plant") of value. I think you probably know this is the meaning of that word and you are deliberately using it incorrectly to fit your narrative.

On the subject of whom "owns" the club the answer is simple - collectively the people who bought shares in the club from Mr Scadding a few years ago. Individually we have little power. Logically if you paid £300 at the time and all the shares in the club were being sold then you'd own less than a thousandth of the club (the sum needing to be raised having been around £300,000). But wasn't it only Mr Scadding' shares being sold at the time which dilutes the value of the influence your money bought at the time.

If you are truly unhappy with the way the club is being run and you wish for greater transparency and accountability then I would suggest you find a significant number of other people who have invested money in the club and agree with your displeasure and petition the club with your collective grievances. I would think 5% of the total raised at the time would be the lower end of "significant"...

wattsville_boy wrote:

Stan A. Einstein wrote:Let's for once stay on topic. One simple question answers only to the question and if you are not concerned simply ignore.

Newport County football club have assets. The £2,000,000 or so from recent Cup runs.

To whom do you believe the money belongs?

The assets you refer to may have been paid into a separate account but still form part of the day to day running of the football club - lets compare it to having a current account and a deposit account with the same bank. The money would have been placed into a deposit account so that it is separate to funds used for day to day running of the club and potentially earning some interest. The deposit account will have been raided to improve training facilities at Spytty, perhaps to increase this years budget and other expenditure that hadn't been taken into account when initial financial plans for season 2019/20 were made.

It should be pointed out that you are incorrect in giving a cumulative total from two seasons of cup runs and calling them assets because those "assets" were used to cover the losses made in previous seasons. I'm no accountant but my understanding of "assets" is that it would either be property or items of machinery (or "plant") of value. I think you probably know this is the meaning of that word and you are deliberately using it incorrectly to fit your narrative.

On the subject of whom "owns" the club the answer is simple - collectively the people who bought shares in the club from Mr Scadding a few years ago. Individually we have little power. Logically if you paid £300 at the time and all the shares in the club were being sold then you'd own less than a thousandth of the club (the sum needing to be raised having been around £300,000). But wasn't it only Mr Scadding' shares being sold at the time which dilutes the value of the influence your money bought at the time.

If you are truly unhappy with the way the club is being run and you wish for greater transparency and accountability then I would suggest you find a significant number of other people who have invested money in the club and agree with your displeasure and petition the club with your collective grievances. I would think 5% of the total raised at the time would be the lower end of "significant"...

Thank you for your long reply.

However all I want is a very simple answer to a very simple question. Why are you answering other questions which have not been asked?

Coxy wrote:I very much doubt we made that sum as a profit. Also that would have been a gross figure with much expenditure to come from it. I doubt the club have even a spare 50k floating around. The club earned the money so it is theirs to spend as they feel best.

Why are you answering a question I haven't asked?

whoareya wrote:Unless you are referring to the very few shareholders of the club, the rest of us bought Community Shares, effectively raising capital to allow the Trust to "save the club'. Community shares don't go up in value, offer dividends or executive voting rights. The subsequent revenue generated annually is generated by the club, for the club and theoretically for the interest of the club shareholders. You are able to cash in Community shares, but they can reduce in value if the respective business is loss making.

No I'm asking you who do you think owns the club. Why can't you answer it?

newgroundrodney wrote:To answer the original question, I personally view the money as belonging to The Club.
The Club belongs to The Trust, acquired with donated monies from Supporters, with limited possibility of refund with small interest, subject to limitations.
The Trust belongs to its paid-up list of members at any given time.

Thank you Gary. At last someone who actually answers the question.

newgroundrodney wrote:To answer the original question, I personally view the money as belonging to The Club.
The Club belongs to The Trust, acquired with donated monies from Supporters, with limited possibility of refund with small interest, subject to limitations.
The Trust belongs to its paid-up list of members at any given time.

Thank you Gary. The first and thus far only person to answer the question.

I truly don't know.
I thought it was everybody who bought £50 shares but clearly not the case.
Maybe its people in the background who never get mentioned certainly not our current board
Now 70 have tried but failed to find an answer which is understandable to myself..

Frank Nouble 3 wrote:I truly don't know.
I thought it was everybody who bought £50 shares but clearly not the case.
Maybe its people in the background who never get mentioned certainly not our current board
Now 70 have tried but failed to find an answer which is understandable to myself..

Hi Frank ,

Would you mind emailing the club for me and asking how many supporters bought £50 shares or more. Then I can cross reference with the amount of people that regularly complain on here to ascertain the real level of disquiet regarding our football club. That way we can give some context to the disquiet rather than reading that you speak to loads that are not happy.
The kit is growing on me by the way, yellow shorts and all.

Ps
Next time you take your mate to a game , introduce him to a director in the marquee.

Serious question-what is the point of this question?-serious question.