I have mentioned the same regarding share gifting but nothing has ever been confirmed so I've assumed it never happened - a pertinent question for the forthcoming meeting.NearlyDead wrote:My recollection was that the £300k (mentioned earlier here) was the debt in terms of director's loans owed to Les and so was repayable either by the trust or by any other party intending to buy the club.
And my recollection was that Les was to gift his shares (which was a separate item to the loans) to the trust and a schedule agreed to repay Les's director's loan over x years.
And my recollection was that HG and MS also said that they would gift their shares at some point. What I cannot recollect was whether any of this gifting of shares was ever accomplished, though I think in the case of Les's shares it was. Perhaps someone with a more perfect memory or certain knowledge can answer that.
As toI'm afraid that's par for the course in a football director's life. Whether a director has put in their own money or not is immaterial, they still get criticised and slagged off.But as I said they put their own money into it
Just to be critised and slagged off
For someone to say that the incumbent directors thought £300k too high a price, when Les's actual expenditure must have far exceeded that and ultimately secured an annual Football League payment of nearly double that must have greatly increased the book value of the club, but then still stay silent about it all?
And what about this debt? Assuming it refers to the bank overdrafts that most organisations use to service operational debt. Seem to forget that pre-Trust the club was effectively subsidised by Les's money buffer, so they ultimately oversaw the debt as well.