A Statement from The Board

[RedRedWine]

I will not be renewing my season ticket next year on this basis whilst a sale remains unconcluded, regardless of whatever league we are in.

I hope you are in the minority, as this will only harm the club and make zero difference to Bond Group. We need fans putting money in to the club now, more than ever.

It is not a decision I have taken lightly - I will never stop supporting the club and will continue to turn up to home games this season, but there needs to be a timetable for a sale to be concluded IMO. As I explained - the reason why I feel Jason believes he can piss around, and seemingly not even entertain credible bids as per the boards update, is because we are largely self-sufficient as a club with regular home gates above 4,000 and a small playing budget. Yes, continue to support the ongoing running costs this year - but should that cease being the case in the future, potentially with a clear indication that people/supporters will not indefinitely accept this current situation beyond the current campaign, then it might hasten his exit and increase his willingness to entertain offers that are not from a self-proclaimed soft drinks tycoon.

Without supporters this club is largely worthless, regardless of what the balance sheet says. Bond Group need the club to continue being relatively well supported to maximise their sale price. I think this is a very different situation from when we were up for sale previously, where we were struggling on and off the field and Peter McGuigan was looking to sell to any conman going to cut his losses - we are told that there are parties that actually want to buy the club in its current form and develop it further; which is what we all want. The only person standing in the way of that is the current owner.

[fulwoodshrimp]

I think shrimpsontoast offers good advice if the owner didn't have previous. What worries fans is this is the man who destroyed Worcester Rugby Club and who could easily destroy our club. He seems to have an inflated valuation of our club and doesn't seem to realise the club will be worth very little if we continue to slide and go down into the National League. What people like myself want to do is make sure people throughout football know we are in the hands of a man with no real commitment to the shrimps, someone focused solely on what money he can make out of the club and someone with a worrying reputation in his dealings with another professional club. DA has clearly left because of the continuing uncertainty and lack of support from the owner and there must be a real concern that some of the loan players will be recalled to their parent clubs as they are no longer being coached by DA.

[Catte]

I read with interest the statement.

Alarming final paragraph. I have read most of the posts on here and as my club went through the toxic owner phase for what it is worth make some points.

1. Unlikely that stamping your feet and waving of fists will gain much ground. The positive is it stops the story going away.
2. MP's help if you can get them on board as I suspect your owners move in circles where MP's also move.
3. The drinks magnet has queried your pitch massively over valuing the club and put off suitable buyers.
4. The Eden project will bring money, and these mugs have their eye on this, not sure of the angle but they will have one.
5. Doing nothing rarely works, I suspect the BoD have some ideas you need to get on board with them.

Good luck.

[black morse]

How about sending some of the boys round to have a quiet word in Jason's shell like ear?

[Keith]

2. MP's help if you can get them on board as I suspect your owners move in circles where MP's also move.

Hmm, not sure about that. They've both been banned from being directors of any company and one of them stuck off from their professional body. I think MP's circles would see them as very toxic and avoid like the plague, even if the porn brokers would wish to move in those circles.

3. The drinks magnet has queried your pitch massively over valuing the club and put off suitable buyers.

100%, I think this is a huge part of the problem.

5. Doing nothing rarely works, I suspect the BoD have some ideas you need to get on board with them.

That's what I'm hoping too. If the time ever came when the Board resigned en-mass or Bond sacked them and installed a puppet regime, then we'd really be in the poo.

[al1]

It would be good if the local press or Radio Lancs could get in touch with Bond group and ask for a response to the statement!

[Catte]

On being struck off and banned as board of Directors our toxic boy ran his restaurant with members of the EFL happy to frequent after he did what he did at Liverpool, Southampton and was still doing to us, one even had their retirement do there.

Normal human beings would push them off with a barge pole, what we have to realise these people are only interested in "can you make money for me" if so "how long before it goes pear shaped and can I be in and out during that period". They will mix in some circles and they will not shy away from money and power this is where if you can embarrass them it will hurt them.

BoD have to keep this in the public eye, they have to shame them where they eat their meals and do their deals, this is where MP's and local money can help.

[marky No.1]

[They've both been banned from being directors of any company and one of them stuck off from their professional body..

Although Jason has resigned from a long list of Boards and Companies that are dissolved or no longer, he is still an active director of quite a few companies according to the register:

Mayfair Finance
Bond Group Investments
Bond Group Sports
Bond Group Sixways
Sixways Property
Sixways Medical
Sixways Stadium
Worcester Sport
WRFC Players
WRFC Trading
MaxGM Holdings
Mojolie
Oxygeni
88 Club

More pies than the Berlin Wall

Meanwhile Colin Goldring is also director of:

Sixways Stadium (in receivership)
Sixways Property (strike off process)
Sixways Medical (strike off discontinued)

Oh and he was appointed Director of Simplify EV earlier this year

[Keith]

[They've both been banned from being directors of any company and one of them stuck off from their professional body..

Although Jason has resigned from a long list of Boards and Companies that are dissolved or no longer, he is still an active director of quite a few companies according to the register:

Hmm, looks like it was a 12 month ban, from November of last year. Does that mean they could sack the Board, and then take it over themselves as directors? That really would f*** things up!

https://www.bbc.co.uk/sport/rugby-union/63300042

[marky No.1]

Jason owes millions, I’ve heard 6M to tax man, well he’s just putting that on his valuation of the Club, making it an unattractive proposition for anyone wanting to buy a club. Not going to be sold any time soon as a result, those who have shown an interest are not going to pay what he is asking, again
I’ve heard 20M. Totally Unrealistic if that is right.

....and where do you get that info from....

IF you are correct and he's put a value of £20m on OUR club then no wonder any sale has not progressed.

As Keith has posted, here is the £6M quote

Worcester Warriors: Ex-owners Jason Whittingham & Colin Goldring disqualified from being directors - https://www.bbc.co.uk/sport/rugby-union/63300042

[KenH]

Looks like the £6m tax is for the Rugby club and will probably be unpaid VAT and unpaid PAYE/NIC on wages. HMRC take a very dim view on VAT and PAYE debts because it's not tax on profits, it's tax that the company has taken off it's customers/employees that belongs to HMRC and should never have been used by the company for anything else - basically stealing the taxman's money. HMRC can go after the directors for that if they want to pursue it and ultimately bankrupt the directors.

[black morse]

Looks like the £6m tax is for the Rugby club and will probably be unpaid VAT and unpaid PAYE/NIC on wages. HMRC take a very dim view on VAT and PAYE debts because it's not tax on profits, it's tax that the company has taken off it's customers/employees that belongs to HMRC and should never have been used by the company for anything else - basically stealing the taxman's money. HMRC can go after the directors for that if they want to pursue it and ultimately bankrupt the directors.

If they bankrupt the owners presumably the club goes down as well?

[shrimpsontoast]

Don’t know exactly how bankruptcy works, but I would have thought that a receiver would take control of the bankrupt’s assets (so that would include any shares owned by the bankrupt) and try to sell them with a view to passing on the proceeds to the creditors of the bankrupt…

[Keith]

If they bankrupt the owners presumably the club goes down as well?

No, I think the opposite. The Receiver would try to sell the assets for as much as possible, to repay the creditors. If at this point, a 'local consortium' or 'potential buyer' returns with a realistic offer, then the Receiver may accept it.

Potential buyer offers Bond Group £2.5 million
Bond Group rejects it, saying they want £7.5 million
Potential buyer withdraws, saying there is no point in even trying to negotiate, as they are too far away in valuations.
HMRC have a £6 million bill. They raise £4.5 from other assets sold.
Potential buyer offers the Receiver £1.5 million.
Receiver has raised enough to cover the primary debt and accepts the offer.

[marky No.1]

Administrators charge hundreds of ££££ per hour with maybe a dozen people working on it, the administrators bill at Worcester is currently up to about £2M , quite a chunk of the assets.

PMG 's gym and training pitches suffered similarly

[Tubshrimp]

Can Jason, as owner, sack the board?

In short, yes.

However, that really would be hari kari as he'd have to replace them with people who would want ridiculous things like a salary and the usual decent employer stuff.

We are in perilous danger of the board quitting in my humble opinion as they'll get to the point where they've had enough. It's the only thing keeping it going to the level it currently is at is there incredible professionalism

[Tubshrimp]

What on earth is Whittingham playing at? He clearly wants to make a killing from selling the club but his absurd valuation is putting off serious interest and attracting nonsense offers like he received from Johal.His business acumen is awful- he destroyed Worcester Rugby Club and if he continues to neglect the shrimps he will destroy us. Is now the time for protests? A March from the Mazuma to the town hall to deliver a letter to the m.p. would be a start. We cannot let Whittingham destroy our club. WHITTINGHAM OUT!

Absolutely right - and as he has been saying for months, we should have done this ages ago. We need to organise this a a collective. Any ideas about how to do so?

"Someone should do something, but definitely not me!"

No one is stopping you Roger.

I won't be joining it, for a number of reasons.

1. David Morris is as likely to be an MP as I am of winning the euromillions.
2. He's never been to a game in his life as far as I can see.
3. If he should get involved.
"You need to sell the club Bond Group"
"I'm trying, I had this lovely man called Sarbjot Johal, he has 9million quid in this limited company - look!"
"Ok, carry on"
4. What Bond Group are doing is entirely legal, there's nothing he can do
5. and most importantly, Nelson Mandela, The Pope, Carlos Mendez Gomes, Mother Theresa and the King could tell him to and it wouldn't change one thing.

What we need, and what we have always needed, is any interested party to contact the Trust and be public so there is an alternative to get behind rather than "Why hasn't he sold it to the same people who bought Carlisle"

Anger and passion is fantastic, but it needs to be directed at the right time, and to be ready to get behind the right person, at the right time.

What would be even worse than a man who doesn't care and isn't putting a penny in, is someone even worse than that like a Lemos.

Creating more passion behind "sell the club" is great, but it needs to be TO THE RIGHT PEOPLE. All banging on about it is doing is enhancing Mr Johals 9million quid of (very much alledged) debt or similar.

[Tubshrimp]

I will not be renewing my season ticket next year on this basis whilst a sale remains unconcluded, regardless of whatever league we are in.

I hope you are in the minority, as this will only harm the club and make zero difference to Bond Group. We need fans putting money in to the club now, more than ever.

It is not a decision I have taken lightly - I will never stop supporting the club and will continue to turn up to home games this season, but there needs to be a timetable for a sale to be concluded IMO. As I explained - the reason why I feel Jason believes he can piss around, and seemingly not even entertain credible bids as per the boards update, is because we are largely self-sufficient as a club with regular home gates above 4,000 and a small playing budget. Yes, continue to support the ongoing running costs this year - but should that cease being the case in the future, potentially with a clear indication that people/supporters will not indefinitely accept this current situation beyond the current campaign, then it might hasten his exit and increase his willingness to entertain offers that are not from a self-proclaimed soft drinks tycoon.

Without supporters this club is largely worthless, regardless of what the balance sheet says. Bond Group need the club to continue being relatively well supported to maximise their sale price. I think this is a very different situation from when we were up for sale previously, where we were struggling on and off the field and Peter McGuigan was looking to sell to any conman going to cut his losses - we are told that there are parties that actually want to buy the club in its current form and develop it further; which is what we all want. The only person standing in the way of that is the current owner.

Can always rely on Stu for sanity! We are certainly not self sufficent. From previous statements Bond Group have agreed to fund a loss this year. No idea to what level, but there has to be a concern that this isn't going to happen.

Bond Group cannot take a single penny out without the boards approval, so you'll know when he tries as I assume that is the final straw for everyone so they'll resign. The club needs every penny it can lay its hands on.

[KenH]

We are in perilous danger of the board quitting in my humble opinion as they'll get to the point where they've had enough. It's the only thing keeping it going to the level it currently is at is there incredible professionalism

Another aspect is that they can, under company law, become personally liable for wrongful and/or fraudulent trading if they enter contracts etc that they know (or suspect) can't be honoured. That's probably why they initially didn't renew any contracts in May. Under company law, they simply couldn't until and unless the owners stumped up money to cover the costs/losses. Directors are required by law to run the company "properly" and face the consequences if they don't. We're incredibly lucky that our directors are so professional that they clearly understand the ramifications of their office and will to carry on without payment, and in the meantime, doing their utmost to secure the future of the club, avoid bankruptcy, etc. They've done an incredibly job under extreme circumstances for many years, basically ever since the move to Westgate as finances in particular have been in a perilous state ever since.

[Bare bum]

We are in perilous danger of the board quitting in my humble opinion as they'll get to the point where they've had enough. It's the only thing keeping it going to the level it currently is at is there incredible professionalism

Another aspect is that they can, under company law, become personally liable for wrongful and/or fraudulent trading if they enter contracts etc that they know (or suspect) can't be honoured. That's probably why they initially didn't renew any contracts in May. Under company law, they simply couldn't until and unless the owners stumped up money to cover the costs/losses. Directors are required by law to run the company "properly" and face the consequences if they don't. We're incredibly lucky that our directors are so professional that they clearly understand the ramifications of their office and will to carry on without payment, and in the meantime, doing their utmost to secure the future of the club, avoid bankruptcy, etc. They've done an incredibly job under extreme circumstances for many years, basically ever since the move to Westgate as finances in particular have been in a perilous state ever since.

Maybe any expression by the fans tomorroow should be in the form of expressing appreciation and solidarity with and to the board of directors?

I'm sure they're all feeling rather down and anxious at the moment. They probably could do with knowing we support them?

Maybe a minute's applause and general noise and support on the 15th minute - (15 representing the number of months the club has remained for sale)?

[cragbankshrimp]

Great shout Bare bum. I'm sure they would appreciate it. I think they must be getting fed up with all the criticism that is going in their direction at the moment.

[shrimp in cyprus]

BareBum.......that is totally brilliant.

Showing support for the Board is so much more positive than all the "other stuff'. The Board really need to know how much we appreciate all that they are doing for the club.

[Billy bodger]

I’ve had a long think on things and nothings going to change, we can support the board as fans, so the clap on 15 mins is a good idea and I hope it’s taken up. On the valuation of the club, who the heck knows, I certainly don’t especially after being burnt, for quoting the reported 20M valuation quoted in the press. I just hope as I have said it does not affect Jed, his staff and his players. The club will have to limp on, buyers are not seeing a great buy in Morecambe, not because it can’t be, but because of the valuation put on the club by the major shareholder. Just worrying times.

[Phil Anderer]

The value of any asset/product etc. is what someone's prepared to pay for it. If there are no prospective buyers the asking price is too high - simples!

[Billy bodger]

Was that Sarbjot back sat in the stands just in front of the boxes?