Serious question

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Stan A. Einstein

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Serious question

Postby Stan A. Einstein » August 15th, 2019, 1:04 pm

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?
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Kairdiff Exile

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Re: Serious question

Postby Kairdiff Exile » August 15th, 2019, 1:05 pm

The club, to be spent in the club's interests.
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njbh86

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Re: Serious question

Postby njbh86 » August 15th, 2019, 1:07 pm

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


^
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Stan A. Einstein

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Re: Serious question

Postby Stan A. Einstein » August 15th, 2019, 1:10 pm

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?
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njbh86

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Re: Serious question

Postby njbh86 » August 15th, 2019, 1:14 pm

Makes no odds to me. The money is the club's. If you bought a share, you get the benefits that come with that share, but an elected board runs the club in the club's interests and is empowered to make the decisions BY the shareholders.

*shrug* This is going to turn into another very tedious thread that will boil my p*ss, I can tell, so I'll probably leave it here.
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Kairdiff Exile

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Re: Serious question

Postby Kairdiff Exile » August 15th, 2019, 1:19 pm

Sorry, I thought you were asking for people's opinions on where the money should sit and how it should be spent. If so, I stick to my answer above. Sure, there are Trust members and shareholders, but I don't see our ownership model as being one in which either group could expect anything by way of dividends.

I broadly trust the Board to spend that money wisely. As I've argued before, anyone who doesn't like the way the club is run is very welcome to put themselves forward for election. Last time, we had five nominees for five vacancies, so anyone who thought they could do a better job and stuck their head above the parapet would have had good odds of securing a place on the Trust Board, and to then argue that their ideas should be considered by the Club Board*.

* For clarity, I don't think there should be two separate boards - if you're elected by Trust members, I think you should have a direct say in how the club in run. But that's the constitution we have, at least for the moment.
Last edited by Kairdiff Exile on August 15th, 2019, 2:21 pm, edited 1 time in total.
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rncfc

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Re: Serious question

Postby rncfc » August 15th, 2019, 1:20 pm

It belongs to the club. Aren't you supposed to be a legal expert? Go and do some reading.
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Stan A. Einstein

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Re: Serious question

Postby Stan A. Einstein » August 15th, 2019, 1:37 pm

rncfc wrote:It belongs to the club. Aren't you supposed to be a legal expert? Go and do some reading.


I know a little law. I think it is fair to say that if you had any knowledge whatsoever you would perhaps not have written such a staggeringly stupid reply. To be clear I don't say you are stupid just that your reply most certainly is.

Again though, a really simple question but nobody prepared to answer the question.
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Coxy

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Re: Serious question

Postby Coxy » August 15th, 2019, 1:45 pm

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.
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Loyalfoot

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Re: Serious question

Postby Loyalfoot » August 15th, 2019, 2:05 pm

Why oh why do you have to start off another thread that will get out of control.
You must enjoy all this crap you keep posting on here.
I just hope people ignore your nonsense going forward.
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whoareya

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Re: Serious question

Postby whoareya » August 15th, 2019, 2:13 pm

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.
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Re: Serious question

Postby whoareya » August 15th, 2019, 2:17 pm

Loyalfoot wrote:Why oh why do you have to start off another thread that will get out of control.
You must enjoy all this crap you keep posting on here.
I just hope people ignore your nonsense going forward.


You are right, and I've fallen for it again.

If you deny a fire it's oxygen, it will extinguish itself.

By starting yet another thread, the fire is desperately seeking to keep burning.
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Loyalfoot

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Re: Serious question

Postby Loyalfoot » August 15th, 2019, 2:18 pm

Boycott his threads is the best solution for someone who has no respect for the board that is running our club.
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Frank Nouble 3

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Re: Serious question

Postby Frank Nouble 3 » August 15th, 2019, 2:29 pm

Loyalfoot wrote:Boycott his threads is the best solution for someone who has no respect for the board that is running our club.

So why have you commented twice already then. :roll:
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Re: Serious question

Postby Loyalfoot » August 15th, 2019, 2:31 pm

How did I know you'd pop in.......sad
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