ian1964 10,457 Posted April 1, 2012 Share Posted April 1, 2012 Don't if it is any good but I've just sent them an email asking if they are considering liquidating Rangers and pleading with them not to. Feel free to email them if you think it would make any difference?. jon@club9sports.com Managing partner http://www.club9sports.com/Contact_Us.html 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,059 Posted April 1, 2012 Share Posted April 1, 2012 Should have asked for a copy of their latest accounts to see if there's any substance to them. 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,457 Posted April 1, 2012 Author Share Posted April 1, 2012 Should have asked for a copy of their latest accounts to see if there's any substance to them. HA!,I even said on the email I don't expect a reply mate. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,059 Posted April 1, 2012 Share Posted April 1, 2012 There seems to be a Whytesque touch surrounding Club9 In terms of Club 9, some interesting reading here: Hard to find any examples of deals that they (or their "affiliates" Tobacco Road Capitalists, Prometheus Capital and Dornoch) have actually done. However, Tobacco Road does list 5 deals on its website. Turns out 4 are just companies that Jon Pritchett used to work for so not ACTUALLY deals. The one proper "deal" - you know, money in, investors etc, was Total Sports Entertainment, which they list as an "achievement" went bust in 2004 owing millions and losing shareholders a small fortune which led to lawsuits in 2004 accusing Jon Pritchett (partner in Club9 and potential future owner) and a gentleman named Bill Miller of breach of contract, wrongful conversion of company monies, mismanagement, breach of fiduciary duty and fraud - not saying they DID these things, but there were lawsuits. Interesting linky no.1 - http://charlotte.bizjournals.com/charlotte/stories/2004/03/01/daily36.html last month "Club 9 Sports" was touting a deal to take an Ice Hockey team to San Diego (deal never actually happened) and the supposed "money man" - remember C9S has no money of their own - was a guy named Bill Miller who in the 4 years since declaring TRAC/TSE bankrupt had apparently moved to Tennessee and become a "towing tycoon". Interesting linky no.2 - http://www3.signonsandiego.com/news/2010/mar/09/no-home-for-hockey-sullivan/ Made me worry that this Bill Miller (bankrupt/accused crook/towing tycoon) might be involved in our deal. After all Club 9 has no money of their own - they are just a special purpose vehicle set up purely to do a deal with Sheffield Wednesday apparently - so they must have backers. I just hope Bill Miller is not one of them - if anyone would care to ease our fears, because these Club 9 blokes seem hard to get comfortable with and they certainly have not always had a successful track record, if indeed they have a record at all other than this one failed company-that-never-was. Their advisor Joe Kosich heads up Dornoch Advisors which he claims is a merchant banking and advisory firm with offices located in Chicago, Birmingham, U.K., Milwaukee, Beverly Hills and Orlando, FL and headquartered in the Village of Pinehurst, NC. yet by his own admission in a post of Owlstalk there are only 2 staff and one office plus an "affiliate" in Chicago My aunt's old shop in Attercliffe used to do more turnover than them. http://russellblackandassociates.com/Downloads/DornichCapital.pdf Lee Strafford himself says that Club 9 has never done a deal because they are an "SPV (Special Purpose Vehicle) set up to invest in Wednesday" - on OT yesterday - and yet how confused must they have been about their Special Purpose if they were trying to buy an ice hockey team in California at the same time. Lee did say that their predecessor firms, Tobacco Road and Prometheus Capital, have long histories in what he called the small-med cap markets (he means mid-cap). Except http://www.tobaccoroadcapital.com/Experience.html states 5 deals - Scheer Sports, French/Vaughan and General Sports Venue were companies where Pritchett worked, not "deals" - this would be like my baby brother starting a bank and claiming to have Barclays, Coca-Cola, Tescos and Marks and Spencer's as "engagements" just because he's worked for them all. Prometheus Capital is no more help, there is no record on any file or database of them having completed a deal since 1992 when, under a different name, John Prutch bought a door maker. So a Walter Mitty who is bigging up his company (actually all 3), one failed racing business that never actually held a race, and maybe a door maker 18 years ago - hardly fills me with confidence. Can we find real investment? Not sure, and frankly unless this latest fiasco turns around quickly - not sure I want it any more. Last thought - remember that movie "Boiler Room" where the guys from JT Marlin go in to town and the guys from JP Morgan are there and he says "hear your a con shop on Long Island, even changed your name to make it sound like ours". There are 2 Dornoch Capital Advisors - Joe's little one man band in North Carolina USA and a large energy financing firm in BC, Canada There is a Tobacco Road Capital (large Private Equity group in Durham NC) and then there is Tobacco Road CapitalISTS run by Jon Pritchett with no actual address just a mobile phone number on their website that rings off. There is a $1billion sized hedge fund called Prometheus Capital in Russia, and then there is Prometheus Capital Partners based out of a temp. office space in Chicago run by John Prutch. I have asked elsewhere for an example of one completed deal and been ignored. I have asked if anyone has actually established there is money here and same thing - attacks on me but no answers to the questions, which are really quite simple. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,290 Posted April 1, 2012 Share Posted April 1, 2012 Maybe this should be send to the administrators and the Rangers staff? 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,059 Posted April 1, 2012 Share Posted April 1, 2012 The bottom two links don't work, the sites seem to have disappeared in much the same way the Liberty Capital website did when people started taking an interest in it. 0 Quote Link to post Share on other sites More sharing options...
craig 5,199 Posted April 1, 2012 Share Posted April 1, 2012 I dont trust these guys at all. From what we have seen my faith would be placed first in Brian Kennedy and then the BK's - the others dont instill any confidence in me that they a) understand what liquidating RFC means to US the fans abd b) it smacks of opportunism to come in, liquidate and walk away with the assets of the club. If Brian KeNnedy is out, my money would now be on the BK's- they know that the fans dont want liquidation. I still would prefer Brian Kennedy though. 0 Quote Link to post Share on other sites More sharing options...
Darthter 542 Posted April 1, 2012 Share Posted April 1, 2012 I dont trust these guys at all. From what we have seen my faith would be placed first in Brian Kennedy and then the BK's - the others dont instill any confidence in me that they a) understand what liquidating RFC means to US the fans abd b) it smacks of opportunism to come in, liquidate and walk away with the assets of the club. If Brian KeNnedy is out, my money would now be on the BK's- they know that the fans dont want liquidation. I still would prefer Brian Kennedy though. I would tend to agree. While I'm not convinced about the ins & outs of the BK's bid, they at least have the best interests of the club in mind. However, I will keep an open mind due to the fact that we know absolutely nothing about the other bids. 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted April 1, 2012 Share Posted April 1, 2012 Sheffield Wed. gave them short shrift. If they are not good enough for them, I don't want them at Rangers. 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted April 1, 2012 Share Posted April 1, 2012 From FF The Jon Pritchett mentioned in the following piece is the CEO of Club9 sports Four shareholders have filed a lawsuit against former executives of Team Sports Entertainment Inc., which failed to create a stock-car racing league that would compete with NASCAR. That effort, Huntersville-based Team Racing Auto Circuit, was abandoned in August. Its first season was supposed to begin this spring. The suit alleges breach of contract, wrongful conversion of company monies, mismanagement, breach of fiduciary duty and fraud. Named in the suit are William Miller, former chief executive of Team Sports, and Jon Pritchett, former president. In an Aug. 14 filing with the Securities and Exchange Commission, the public company reported a cumulative loss of nearly $7 million since its creation in 2001. In a press release about the suit, shareholder Edward Garland says, "The company and its directors thought they were getting an experienced CEO capable of completing the company's team auto racing concept. Instead it got a man full of greed who wanted control of the company for himself." The suit, filed in Fulton County, Ga., Superior Court, pins Team Sports shareholder losses of more than $50 million on the former managers. Miller left TRAC in August 2002 and Pritchett departed soon after. Company officials were unavailable for comment. Team Sports Entertainment is a sports and entertainment-marketing company based in Huntersville 0 Quote Link to post Share on other sites More sharing options...
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