PMG Leisure/Youth Facilities

[George Dawes]

basically if it's on our(Christies trust) land, they can knock that stupid block down, the money that cost you could instead have had a complete undercover stand with what that thing cost, fancy building it inside the ground itself, they could have built it in the corner near the car park .and had the CCTV to where it's going now.



again should be asking what exactly does the trust own regarding like for like land per square meter, I've got a gut feeling on this.

[mrpotatohead]

Given that all this, the block, the pitches etc, are not owned by the club, are we to assume none of the land was bought with rhw sainsburys money?.....and none of it was built with the sainsburys money?....if thats the case....well.......

[P/T Indie]

Confirmed that the administrators have changed the locks at the community block and pitches today. The CCTV has been moved to allow matches to be played. At this stage there's no news on what will happen to the Academy, Development Squad, Morecambe FC Community Sports and other activities. Urgent questions and answers needed from the club.

Yet the club will still say nothing my fear is the only time they will make an announcement will be when it's all over and we have either gone into administration and we are in much trouble it's to late to do anything.

Thanks goodness there is people like posh trying to find out what he can and pass thile info on otherwise we really would be in the dark.

[Morecambe Shrimp]

Well last nights development centre training was cancelled due to " unforeseen circumstances " so this sheds some light on the situation. Hopefully something can be worked out to allow these facilities to be put back into use again as the longer it goes on it's another revenue stream being cut off!!!

[Gnasher]

The administrator is looking to recoup whatever money they can. I assume they expect the club to pay for the use of their property. Is that the problem?

[KenH]

Given that all this, the block, the pitches etc, are not owned by the club, are we to assume none of the land was bought with rhw sainsburys money?.....and none of it was built with the sainsburys money?....if thats the case....well.......

From memory, there was a dividend "in specie" paid out of the MFC Limited which I think was noted in the accounts as being land. An "in specie" dividend is where assets are paid out as dividend instead of cash. I can't remember the exact wording, but I took it to mean that this was the land/buildings transferred to PMG Leisure. So, if that's the case, yes, it was ultimately paid for by the Sainsbury money (along with paying back PMGs' loans at that time), and then transferred out of MFC and into PMG Leisure.

Edit, yes found it now - page 15 of the 2011 year end accounts explained as a demerger due to LCC requirements

https://s3-eu-west-1.amazonaws.com/docu ... %2BLxAU%3D

[Wild Bill]

Time for another statement MFC me tinks!

It sounds very bad. Lets hope for the best deal possible being done with the administrators; namely the facility gets kept as it is, sold off to a business to run and matchday practicalities aren't effected.

The Christie Trust (if it still even exists?) will at best protect the pitch, so I reckon this plot of land is probably lost.

[P/T Indie]

The question I still have is why was PMG Leisure set up in the first place still seems very odd and rather complicated.

[mrpotatohead]

It was all done to safeguard the ''future of MFC'', it was ''neccessary at the time'', there was an, '''unexpected recession making steel expensive'' etc. etc. take your pick of the excuses, the whole thing stinks.

[fulwoodshrimp]

I believe there is a scandal that will emerge in the next few months involving the club, PMG Enterprises, Diego and the people who financed him- I only hope when the truth emerges we still have a football club to support. I believe we are not being told the true story of events and wonder why not. Diego is being portrayed as the villain in all this but I am beginning to wonder if he is the fall guy- someone put up to fail, take the hit for substantial losses and then disappear out of the reach of the law and any awkward questions. I am unsure who he is the fall guy for and wouldn't want to speculate on this! We need the truth and we need much more information from the club. This is no time to hide behind the feeble excuse of not being able to speak when legal matters are ongoing. If we are not careful the club will go into administration whilst maintaining silence!

[George Dawes]

we would have been best when moving building a decent completely finished stadium to suit everybody, with little overheads etc.

THAT doesn't make money on non match days cos it's like we don't see any of it, and where losing more money than ever

[KenH]

The question I still have is why was PMG Leisure set up in the first place still seems very odd and rather complicated.

Possible scenario: LCC and or the Christie Trust required the club to provide community facilities as part of their agreement to the move. PMG knew that the community side would never make money and only agreed to it to secure the agreement to the sale of Christie Park. PMG took out maximum bank loan(s) possible secured against the land/buildings so it used up as little as possible of the Sainsbury money. Then he "de-merged" it all into a separate company (PMG Leisure). Over the years, it was kept solvent by MFC paying money into it, maybe by renting the facilities. Now that MFC's finances are so bad, it can't afford to keep bank-rolling a loss making "nice to have" and as a result, PMG Leisure has defaulted on its bank loan repayments and the bank has put it into administration. So, basically, PMG hived off the loss-making and non-essential bit of The Globe so that it could be sacrificed if things turned bad (which they have). So, the requirement to provide community facilities was complied with at the time, but now it can be cast aside legitimately without being a further drain on the club.

[Gnasher]

Security building feet away from the touchline, non-essential?

[Phil Anderer]

I'm trying to stick with Sunny's motto (Dev Patel, Best Exotic Marigold Hotel):

"Everything will be alright in the end, and if everything is not alright, then it is not yet the end."

[Gnasher]

At this stage, I would like to see a statement from the Trustees of the land confirming the land in trust and how it is protected from any administrators. This should not come from the club.

[Christies Child]

A lot of people seem to know exactly what has /is going on. I doubt that they actually know the real truth and use Svs as a means of putting their own theories into the melting pot which only confuses the issue even further.

A club statement would be welcomed but I doubt anything will emerge until all is sorted in fear of increasing what amounts to, in my opinion pure speculation.

[Gone_Shrimping]

Here is the club statement on 5 January regarding PMG Leisure Limited :-

http://www.morecambefc.com/news/article ... 02326.aspx

[Gnasher]

A lot of people seem to know exactly what has /is going on. I doubt that they actually know the real truth and use Svs as a means of putting their own theories into the melting pot which only confuses the issue even further.

A club statement would be welcomed but I doubt anything will emerge until all is sorted in fear of increasing what amounts to, in my opinion pure speculation.

Nothing like a good theory with a few to make it look like a question

[George Dawes]

At this stage, I would like to see a statement from the Trustees of the land confirming the land in trust and how it is protected from any administrators. This should not come from the club.

2nd that.

[Posh]

A lot of people seem to know exactly what has /is going on. I doubt that they actually know the real truth and use Svs as a means of putting their own theories into the melting pot which only confuses the issue even further.

A club statement would be welcomed but I doubt anything will emerge until all is sorted in fear of increasing what amounts to, in my opinion pure speculation.

IMG_6177.GIF (7.05 KiB) Viewed 1050 times

The CC world view.

A Director earlier this week told a group of us that PMG Leisure was profitable and would continue trading. It is pretty clear that no one is really in control of the current situation or has the questions or answers. Those who do something won't have failed only those who do nothing.

[mrpotatohead]

Neil, is your obsession with PMG reciprocated ,or are you his stalker

[Christies Child]

So what has happened between the club statement of January 5 and now....

Are some actually suggesting that the club lied....and if so to what purpose

It's noticeable that some posters who haven't been heard of for months suddenly reappear. Begs the question is their sudden interest more of a personal vendetta against an individual or individuals....

[Gnasher]

Err, the administrators have blocked access to the areas that statement says we have access to

Have you not realised that

[Gnasher]

It's noticeable that some posters who haven't been heard of for months suddenly reappear. Begs the question is their sudden interest more of a personal vendetta against an individual or individuals...

I guess that'll be me then. No personal vendetta although I do have opinions, good and bad, of various officials. However, when the club I have known for 56 years is in its biggest pile of shit ever, I am entitled to an opinion as much as anyone else.

Being away from things for a little while does give a more objective view. I see things for what they are, I'm not biased towards anyone. Can you say that Neil

[Christies Child]

Believe it or not, I do respect the opinions of others but i just find it coincidental that some former posters suddenly reappear when times are crap. That's not to suggest that what they post may or may not be true as (in my opinion) I doubt that anybody really knows what the truth is and it is quite possible that the statements of truth of what has / is going on could be months if not years away.

One thing I'm sure is that we are in trouble thanks to a well intentioned original plan that has gone badly wrong and as a result we ALL suffer.

Sad really but we are where we are.....