Ripe for a take over?

If the surrounding land was attractive to developers why has no-one ever showed any interest? Also the ground is not new any more and must be due for refurbishment.
 
fmttmadmin said:
indeedido - I know this sounds weird but Steve Gibson spoke to me this week and this was a part of what he had to say - he wanted to let you know that this is not a correct assessment by you - he tells you to look at Gibson O'Neil holding company to see the correct picture.
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Class that Sir Steve reads this board
 
BoroMart said:
I don't think anyone is saying a change is imminent, I wouldn't expect him to get us up and look to sell, personally I think it's 10+ years away, but it 100% will one day change ownership from Gibson to someone else.
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This precisely.

Gibson is no idiot and wouldn't have got where he was today without the ability to plan business long term. Whilst him stepping back or down is likely still some way off, it's guaranteed he will have considered options for the club for when he's no longer in his position, it's what anyone does with a business, but even more so when their love of it is so personally rooted, since childhood.

He'll doubtless know all of what was discussed and will act out on the option that is best for the club flourishing in future years, including when he is gone, like anyone does with a sizeable fortune when leaving a will?

Again though this is years away yet I imagine.
 
To be fair, it doesn't take much digging and confirming what Gibson said on previous comments back that the whole picture is better than many think it is. To quote accounts published under "The Gibson O'Neill Company Limited" showed a huge profit even during some difficult times. Turning over £320,029,000 in 2022, £213,353,000 in 2021 with the group including Bulkhaul, Rockliffe Hall, MFC having group assets of £159,028,000. £167,590,000 back in 2021. Worth noting that in the accounts its mentioned numerous times that the club will strive for progression and promotion to the Premier League and investing in the football team. Gibson is not immune to criticism but which business man do you know or see not make decisions and get some right and some wrong. He would never put the club in a position like that and will continue to make decisions that will divide a fan base but everyone has to admit the last 5-6 months has been spot on!
 
fmttmadmin said:
indeedido - I know this sounds weird but Steve Gibson spoke to me this week and this was a part of what he had to say - he wanted to let you know that this is not a correct assessment by you - he tells you to look at Gibson O'Neil holding company to see the correct picture.
Click to expand...
I think both you and Steve know that I am able to access and understand the Gibson O'Neill company accounts, together with those of Bulkhaul, MFC and Rockliffe Hall.
I have never said that Gibson O'Neill is a financial basket case - far from it.
Rockliffe Hall and MFC operating companies are however both problematic.
Bulkhaul is a wonderfully successful business.
It enables the rest of the group to function.
It is a strong turnover, high margin, hugely impressive business.
It enables the Parent Group funding which keeps MFC operating as a Going Concern.

I have never said GON is a financial basket case or unsaleable.
But MFC currently is, unless the Parent releases the club from the debt/converts that debt into equity. OR it transforms into an established PL club again.
My consistent line has been whether anybody likes it or not, we are stuck with each other; fans, club and owner.
We can not survive at all without the financial underpinning from Group.
GON can not sell something that nobody would buy in this league where it makes losses and has huge debt and a huge nett shareholder deficit.
It could sell if it was PL, no longer losing money, seeing revenues in a different stratosphere and a squad/intangible asset value soaring.

My criticisms have been about how he has gone about achieving that since 2009.
I've also been very complimentary about him pre 2006 - and for his decisions and approach in the last five months. Not just his decision masking, but his approach to opening up and releasing information (e.g. SC renewal process)
I'd like him to get his loans back, I'd like him to eventually get somebody to pay him at least the equity he has injected in order to gain control of the club he clearly holds so dear. But not as much as I want our club to be successful.

To say the FC has no debt is simply not true, not just technically.
If Bulkhaul falters, things can change. If Steve changes priorities, things can change; if Bulkhaul's line of finance is hit, things can change.
There are lots of things that can happen that would change MFC's position within a different GON.
The Football Club loses a lot of money, the cumulation of that leaves it technically insolvent, in massive debt to an owner that nobody can challenge or replace. On the crest of this 5 month wave, all appears well, but it is remarkably fragile.
The club has massive protection from Bulkhaul /Group, but is in itself incredibly dependent and weak. That is indisputable.
 
I think Steve Gibson will only sell when we are back in the Premier League - not because he couldn't get a buyer if we weren't but because he'd want to go out on a high. If we manage to re-establish ourselves at the kind of status we enjoyed 20 years back - mid-table team with a sporting chance of a cup trophy - I'd think he'd consider that a job well done. No easy task, natch, but I can't see him giving up before we've had a few more rolls of the dice.
 
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