Can anyone explain to me please...

[skyecat]

As I understand it:
Lemos started G50 Holdings and 99 Sports (or whatever they were called).
Shortly after, the 1 share, worth 100% which was Diego's, was then changed into 99 shares to Burnard and 1 share to Lemos.
G50 Holdings "bought" in one way or another, Morecambe Football Club.
Diego Lemos was seen at the club for 2 or 3 matches and he brought with him / employed / contracted, use whatever word fits best, Abdul.

Abdul leaves the chairman and director's positions but is still on the scene to help, advise, fund, whatever.

BUT, the bit I would like some clarification on is, as far as The Bay radio have reported, "We have been informed by representatives of G50 Holdings that Abdulrahman Al-Hashemi has agreed to sell his interest in G50 Holdings Ltd" - what amount of shares does he have in G50, when did he get them and who did he buy them off if Diego had 1 share and Burnard had 99?

[Christies Child]

No doubt about it..it's a 100% white out......

[fulwoodshrimp]

I have been saying for some time now. We are not getting the true story of the sale of the club but what is clear is PMG messed up in handing over his share certificates without being fully paid. I understand Abdul came up with dosh when Diego didn't. How this makes him the owner I don't understand.

[P/T Indie]

This is probably why there is no news from the EFL on signing the new ownership off because they are probably confused as us.

Also Diego has now complicated things further with his injuction threat.

[mrpotatohead]

''Abdul coming up with the dosh'' answers the question, and any others, regarding this whole mess, lets not make any bones about it, the whole reason we are now relying on Joseph Cala to have some kind of 'epiphany'', cease the habits of a lifetime, and devote his time and money (if he has any) to maintain or improve MFC, is because PMG, sold us out, he was solely instrumental by way of rightly or wrongly just ''seeing the green'' , it was technically his property to sell and wether or not the club survives will be his doing.

[Christies Child]

After the millions that PMcG put into our club he's perfectly entitled to sell the club to get some back. Give him some credit after all he has openly said that he's no intention of seeking it all back and is more than happy for the vast majority to be written off.

PMcG is guilty of being too trusting of Lamos and the club is paying the cost of that. He knows more than anyone that he was foolish and naive but this constant character assination and claims that he's purposefully sold us down the river is totally uncalled for.

If some think PMcG is no longer fit to be Chairman...then just bloody wait till Cala gets his hand on things, especially come the day that he wants out which he will sooner than later despite all the fancy talk from him at the moment. He doesn't give a s*** for the club and will walk away as soon as the going gets tough leaving a pile of debt but no doubt a few extra dollars in his account.

I simply don't trust him......

[Shrimpy]

will walk away as soon as the going gets tough leaving a pile of debt but no doubt a few extra dollars in his account.

I simply don't trust him......

Are you talking about Cala or PMG?

[Gone_Shrimping]

Peter made a big mistake leaving the sale of the club until he was powerless to control its destiny.

He said it was "virtually debt free" which it quite clearly wasn't and he wasn't even including PMG Leisure in that statement.

I remember at one of the fans forums he made a statement that football clubs shouldn't make profits ! Well its certainly better for your club to make a profit than a £700k loss.

The accounts to May 2016 are due to be filed by 28th February but that deadline may be missed again with all that's going on.

[Seasider9601]

Can anyone explain to me please....

If Lemos and Lamos are the same person, or different people ??!!

I can't keep up with all this.....!!!!!

[marky No.1]

Which one wears the coat of many colours?

[halfwayprawn]

Joseph

[marky No.1]

Joseph

Hope Mary is not involved

[Seasider9601]

Joseph

Hope Mary is not involved

[Sakhalin Shrimp]

Which one wears the coat of many colours?

Predominantly Lemon?

[John L]

Joseph

Hope Mary is not involved

...aye, for Joseph's sake!

[skyecat]

So, as the Visitor reported today, Cala "says he purchased G50’s controlling stake in the club on “Thursday or Friday”, openly telling me how much he agreed to pay for it, a six-figure sum."

So, If G50 holdings was purely set up to purchase the club and has no other business interests - and as admitted by Directors of the club, the ownership of the club is with G50 Holdings.

G50 Holdings own the club.
G50 Holdings has money - (Cala paid a 6 figure sum only last week)
Morecambe FC owe creditors and staff's wages
I refer back to "G50 Holdings are the owners and have a 6 figure sum"

Irrespective of who has controlling share in personal name - it's been verified by existing board members that G50 own the club etc...I keep going round in circles, but as Shrimper said in another thread, who can we go to for answers and ideas of ways forward?

[mrpotatohead]

A six figure sum, by its definition , is between 100,000 and 999,999 pounds, a wide ranging figure, and even the maximum amount being very cheap, A million quid tops for something PMG built using the fruits of our towns legacy from JB Christie, I know I am being over simplistic here, but thats what we have come to is it?

[Gone_Shrimping]

A six figure sum, by its definition , is between 100,000 and 999,999 pounds, a wide ranging figure, and even the maximum amount being very cheap, A million quid tops for something PMG built using the fruits of our towns legacy from JB Christie, I know I am being over simplistic here, but thats what we have come to is it?

Very sad but true. That price reflects the liabilities that have to be taken over as part of the deal.

[KenH]

A six figure sum, by its definition , is between 100,000 and 999,999 pounds, a wide ranging figure, and even the maximum amount being very cheap, A million quid tops for something PMG built using the fruits of our towns legacy from JB Christie, I know I am being over simplistic here, but thats what we have come to is it?

Yes, a lot of the £8/£10 million from Sainsburys has gone due to the losses made over the last few years and paying for the stadium to be built. The "club's" value depends on what the stadium is worth to someone. For building land, probably around a million. The stadium itself will be worth a lot less than it cost to build simply because few people will want it - simple economics - the trust couldn't pay much to buy the stadium for MFC, there are few other local sporting clubs who'd want the stadium - maybe Vale of Lune Rugby Club if they needed a bigger/better ground? Maybe someone would buy just the function rooms to run functions and leave the pitch/stands unused - but again, worth very little for that kind of use. So, yes, the millions received have gone and won't be recovered.

[P/T Indie]

That's an idea if we had to start again and couldn't afford to run the Globe ground share with Vale of Lune at the Globe, you could even put down a proper 4G pitch (not a half baked effort that we have at the moment) and also rent it out through the week instead of the current 3G pitches.

I know Widness Rugby league have a 4G pitch and in the lower leagues more and more teams are thinking of them of a way of making money.

and that way we wouldn't need under soil heating

[Gone_Shrimping]

That's an idea if we had to start again and couldn't afford to run the Globe ground share with Vale of Lune at the Globe, you could even put down a proper 4G pitch (not a half baked effort that we have at the moment) and also rent it out through the week instead of the current 3G pitches.

I know Widness Rugby league have a 4G pitch and in the lower leagues more and more teams are thinking of them of a way of making money.

and that way we wouldn't need under soil heating

I doubt if Vale of Lune have sufficient followers to make it viable.

American football with the Morecambe Bay Storm playing at The Globe may be a possibility.

[Keith]

This is why I was asking about the trust a while ago. I was under the impression that the sale of Christie Park land, as agreed by the trust, was ALL being spent on a new asset for the club/trust. The old 'club' was built upon trust land and it had no value whatsoever. In fact, it had negative value as it needed to be demolished & cleared.

Now, I'm beginning to worry that the trust held one piece of high value land and swapped it for a similar sized (perhaps even less) land that was of low value.

Where did the balance go? If the balance went in to the buildings, then fine, as long as they also belong to the trust. That would mean, if we needed to start again in the North West Counties (or whatever) we would at least have a ground & pitch to play on. In fact, with much lower playing costs, the income from functions in the Wright & Lord would easily cover the cost of the football club on the pitch.

But if we simply own a little bit of land, then somewhere along the line we've been asset stripped.

That's what I'd like to be explained.

[Christies Child]

....ah but Keith, the messiah named Cala says we don't need a hospitality function as pure football will pay the way...

Utter and complete bollocks Joseph....

[marky No.1]

If our new owner comes in, the hospitality will be 'exterminated', Keith

[Keith]

https://audioboom.com/posts/5564010-pro ... lobe-arena

10 minutes 30 seconds "the first thing you do is own the land"