Ex Shelton Seagull
New member
Just found this post from a Cambridge United supporter. Looks like they are royally screwed. Wonder why Archer didn't think of doing this little scam with us.
This time last year we came close to closure when we had a large debt to pay {thanks a lot to ITV Digital here} and despite the raising of 100k by our fans at short notice and the sale of our star centre forward Dave Kitson to Reading for a pittance {about a 150k up front with a few add ons, now look at him bang them in} we took out another yearly loan to make up the difference. At this stage you would have thought a plan would have been put into place and cost cutting measures taken so that we wouldn't have found ourselves in such a desperate situation again, but you guessed it Xmas is coming, the banks/lenders want their cash and the cupboards are bare.
Faced with the prospect of administration, a 10-point deduction and the inevitable relegation our board have done the noblest of deeds and voted with their more than 50% majority to sell the ground to one of the board members {a Mr John Howard} and his recently set up development company for £2million, with the promise we can be tenants for the next 50 years at a rent of 200k a year. So the wonderful Mr Howard whilst 'saving' the club he claims to love now has a piece of property previously valued at £4million {although if we go bust and they can then use it for other purposes this will rise}, a 10% return on his investment every year and if want to buy the property back in the first 5 years it will cost £2.7million in total {after that we'll have to match other offers}.
We are still losing £10k a week, now have a large rent to pay and have less than £500k left from the sale now that we have cleared all our debts and paid off the mortgage. Despite a series of cost cutting measure about to {finally} take place it looks very likely this money will be swallowed up within a year or two {let alone us obtaining the money to buy the land back from our director and carry out the redevelopment our chairman claims will be our saviour} and this time we'll have no assets to borrow against so we'll be well and truly finished.
Due to years of mismanagement {we've wasted a 7 figure sum we received for Trevor Benjamin not that long ago} the prospect of administration and collapse looks inevitable. Short of a {possibly} morally corrupt Russian billionaire pumping some cash in there is very little I see can be done to avoid this, but I would just like to highlight/shame the inept board of CUFC and the actions of John 'Win Win' Howard as he has appointed himself the white knight saviour of Cambridge United when it would appear to most that he is filling his pockets from this dying club before the last rites are finally performed.
Seeing as how NSC is the home of "do-gooders" I just thought i'd bring peoples attention to another club sailing up shit creek.
This time last year we came close to closure when we had a large debt to pay {thanks a lot to ITV Digital here} and despite the raising of 100k by our fans at short notice and the sale of our star centre forward Dave Kitson to Reading for a pittance {about a 150k up front with a few add ons, now look at him bang them in} we took out another yearly loan to make up the difference. At this stage you would have thought a plan would have been put into place and cost cutting measures taken so that we wouldn't have found ourselves in such a desperate situation again, but you guessed it Xmas is coming, the banks/lenders want their cash and the cupboards are bare.
Faced with the prospect of administration, a 10-point deduction and the inevitable relegation our board have done the noblest of deeds and voted with their more than 50% majority to sell the ground to one of the board members {a Mr John Howard} and his recently set up development company for £2million, with the promise we can be tenants for the next 50 years at a rent of 200k a year. So the wonderful Mr Howard whilst 'saving' the club he claims to love now has a piece of property previously valued at £4million {although if we go bust and they can then use it for other purposes this will rise}, a 10% return on his investment every year and if want to buy the property back in the first 5 years it will cost £2.7million in total {after that we'll have to match other offers}.
We are still losing £10k a week, now have a large rent to pay and have less than £500k left from the sale now that we have cleared all our debts and paid off the mortgage. Despite a series of cost cutting measure about to {finally} take place it looks very likely this money will be swallowed up within a year or two {let alone us obtaining the money to buy the land back from our director and carry out the redevelopment our chairman claims will be our saviour} and this time we'll have no assets to borrow against so we'll be well and truly finished.
Due to years of mismanagement {we've wasted a 7 figure sum we received for Trevor Benjamin not that long ago} the prospect of administration and collapse looks inevitable. Short of a {possibly} morally corrupt Russian billionaire pumping some cash in there is very little I see can be done to avoid this, but I would just like to highlight/shame the inept board of CUFC and the actions of John 'Win Win' Howard as he has appointed himself the white knight saviour of Cambridge United when it would appear to most that he is filling his pockets from this dying club before the last rites are finally performed.
Seeing as how NSC is the home of "do-gooders" I just thought i'd bring peoples attention to another club sailing up shit creek.
