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KBH and the £30K

By Filipo21/1 08:11Sun Jan 21 08:11:11 2024

Views: 3461

On last night’s call I thought it would be helpful for a KBH spokesman to set the record straight on the boards line about their proposed investment.

I have heard it on more than one occassion from the board that although the KBH were offering £30k investment, they wanted this back in 3 years.

This was confirmed as being completely untrue. What is more concerning is why the board think this, did they not read the documents? Did they not understand the terms and conditions? This was a genuine offer of investment from a group of die hard Ks fans and this is how they were treated.

The outcome of this of course is the club’s current situation. The’ve turned away investment to help the club progress along with the hours the KBH members were willing to put in to help the club.

Make your own mind up

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Re: KBH and the £30K

By ollie21/1 12:41Sun Jan 21 12:41:26 2024In response to KBH and the £30KTop of thread

Views: 2389

Hi Shaun, thanks for your involvement in sorting last night and clarifying this position. For further clarity, our commitment at the time of the offer was this per year for up to 5 seasons, I.e. £150k.
This was a ballpark figure based on our expectations of the shortfall and to stop what we think (based on published accounts) is the drain on the AFCW money. The reason it didn't proceed further to a more precise figure/commitment (which likely would have been more) is because despite signing NDAs, no view of accounts was forthcoming. Yes we were prepared to invest in K's, but not blindly when you're talking about such sums of money.
Whether or not that offer still exists - the honest answer is I don't know. We're still friends/in contact with each other as a collective, but the way we were treated over this stung some more than others and has certainly driven some to have less of a desire to help, especially if that help is just prolonging the death of the club rather than driving positive change.

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Re: KBH and the £30K

By JM21/1 13:57Sun Jan 21 13:57:28 2024In response to Re: KBH and the £30KTop of thread

Views: 1610

Just to add to this, had the board communicated to us at the time that this was a stumbling block, we could have immediately clarified our intentions and resolved the issue.

Instead they chose not to explain their objection, and just grumbled about it to other fans months later.

I'm not sure they've ever directly expressed this to us at all, in fact.

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Re: KBH and the £30K

By MC21/1 13:00Sun Jan 21 13:00:11 2024In response to Re: KBH and the £30KTop of thread

Views: 1652

As a more general response, it just seemed like the board didn't really take the offer seriously / didn't sit down and consider it / are happy just to plod along as they are.

So it doesn't strike me as a surprise that a key detail has apparently been misrepresented. It's yet another one for the 'are they deliberately lying or are they just incompetent' and I personally still give them the benefit of the doubt and go for the latter. Others' views may vary.

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Re: KBH and the £30K

By jon tolley21/1 13:10Sun Jan 21 13:10:18 2024In response to Re: KBH and the £30KTop of thread

Views: 1615

Agree. I think it’s incompetence
But I’d rather a devious person delivering than an idiot ruining my club

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Re: KBH and the £30K

By DaveK (Haver of thoughts)21/1 13:00Sun Jan 21 13:00:03 2024In response to Re: KBH and the £30KTop of thread

Views: 1601

despite signing NDAs, no view of accounts was forthcoming.

I'm not a businessman but that's mad isn't it? Like that's why you sign an NDA surely, to have sight of things you can't disclose?

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Re: KBH and the £30K

By Count Scarlioni21/1 08:51Sun Jan 21 08:51:08 2024In response to KBH and the £30KTop of thread

Views: 1714

Unfortunately the shareholders are not obliged to take any offer and there may have been commercial reasons. Personally I think one reason was that KBH did not represent the fans as a whole a Supporters Trust may be a preferable approach.

Be that as it may, I think it was a pity as an investment could have improved the playing side. We are in a pitiful position but I was encouraged that Simon Lane showed the interest and passion to join the discussion yesterday. We should offer Simon our support, he deserves it. None of us want to get relegated. There is still a chance. He clearly felt protests would not help the team. Frankly I would be surprised if the owners of the club are not fully aware already of the discontent of fans. They have allowed a gulf to develop and that can only be improved by constructive communication. To be entirely fair communication has somewhat improved since the supporters club made changes. Rex got some quite interesting answers and published them last night.

Otherwise looking at what the directors said in their reply, they say they are talking to some clubs for a new groundshare - so we can probably assume they are well aware that Mitcham has not worked out - and they say discussions are going on with two parties about building a ground on their land. Of course we are told these discussions are confidential which is understandable. I would be asking for their timeline.

I wonder what these clubs are - apparently Hampton can no longer groundshare so it might be Imber Court or Molesey?

To my mind this is probably about as good as we could realistically expect in this awful position. Of course it would be good to know if the club has talked about the athletics ground. I found some commentary which suggested the council thought that facility was busily used so I assumed that was one reason for it not being taken forward albeit a place which has a football pitch on it is a fairly obvious choice - and on that point why not Kingsmeadow? I guess that goes to the view of the management of Chelsea and how much money they would want if they want to offer it at all,

Would a change of ownership improve the chances of these matters turning out to the fan’s satisfaction? Maybe, the fans would be happier for sure.

Changing the situation would I think require a supporters trust to buy out the existing shareholders. One of the reasons why KBH could not work with the existing board is the strong dislike the parties have for one another. If a supporters trust were to put forward a bid - accepting that first work must be done to determine a realistic value and one would say at first blush Ks does not seem like a valuable proposition presently - it would have to be financed and probably the directors loans repaid which seem to be around 100,000 pounds.

Therefore I can see a supporters trust being a way forward for sure - but it needs to be financed and very well financed to make it a viable proposition to take control of Ks.

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Re: KBH and the £30K

By jon tolley21/1 09:33Sun Jan 21 09:33:57 2024In response to Re: KBH and the £30KTop of thread

Views: 1692

excellent post

my immediate response is that we’re treating last year like this year like next year. the club was not as terminal when KBH offers cam in. when we get relegated and playing possibly somewhere even worse it’ll be harder still. at some point it is beyond saving. Not yet. But relatively soon

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