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Another thing that you can bet your bottom dollar on , this new share issue will have been already discussed with existing institutional investors who will get a discount to market price , plus they will 100% take up their allocations as they wont want to dilute their holdings , infact long term this could be benificial for them

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Some fair points and some hopeful steps but nothing very tangible. Not really a surprise I suppose.

 

I know we've wasted shitloads of money, I was hoping to find out how and by whom.

 

I need to re-read the ST payment farrago because something isn't right about that.

 

Anyone remember that blueprint that a fan drew up about a year/18 months ago? Other than the bits blaming everyone else for our problems (previous boards, King, the fans) it reads rather like that - positive but vague.

 

The overall impression is that some people could do a decent job on the board, but that one or two really do need to be sent packing to restore confidence in the company as a whole.

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It's going to take a while to go through this properly but the mismanagement of the club over the last 2 years is now clear.

 

Unfortunately, as much as the review contains many obvious and unsurprising comments, it lacks the detail required to see if the positive initiatives detailed within it can be realised.

 

Passing the buck to previous regimes and fans simply isn't acceptable.

 

Albeit they are telling us what we already know, the positive thing is that they, too, seem to be aware of the nature and extent of the problem and are public in their acknowledgement. It's a start.

 

Essentially, the first part comes down to an acknowledgement that the club needs money (which we know), claims that things are heading in the right direction (which we can't know and have to take their word for) and a request for further funding from the fans (i.e they want us to trust them with our money, despite us not yet having seen one single reason to do so).

There is no acknowledgement of the deepset and widespread distrust of the board among fans, far less any plan to counter this.

 

 

In short the message is:

 

"Ok guys, things were screwed up big time and pockets were filled with loot, but that was the Old Board, honest guys, but things are steady now and heading in the right direction, trust us on this, smooth sailing and happy days ahead filledwith sunshine and laughter, but there's just the small matter of cash, which, by the way, we need youse to give us and yes we know that the previous board pissed 95% of the money you gave them up against a wall but this time it will be different, honest, trust us, would we lie to you? Oh, by the way, if you give us the money, we'll have the championship back home in no time at all, so we will, and not only that we'll be back in Europe and have tons and tons of scouts and youths and medics and a shiny new stadium and all sorts of goodness - just could you give us the money? Again. Please."

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