Dick Knight betting scam on front page of Argus...........

[The Auditor]

Different from a MAJORITY shareholder, which the club doesn't have - and hopefully never will have again. The last incumbent to occupy that role was William Ernest Archer.

I suspect 'major' can be a very flexible adjective.

.....What if Knight & Griffiths combined are the majority...

 

[johnny jigsaw]

In a statement to The Argus, Mr Knight said: "I was invited by Albion director Kevin Griffiths to be the non-executive chairman of a new venture called Sporting Options when it was established in 2002.

"My role was advisory, to act as a figurehead and to advise on the launch of the new company.

"I took no part in the running of the company and never expected or received any payment for my role. I had no involvement in the company and have since resigned as non-executive chairman.

For me, the $64000 question is what prompted him to resign?

 

[Ernest]

For some on NSC in their eyes Dick Knight and the board can do now wrong and even if any wrong doing is proved against Dick Knight will try and excuse him.

 

[The Large One]

Well, Worzel, sorry, Ernest, can you prove to us what he has done wrong?

 

[London Irish]

.....What if Knight & Griffiths combined are the majority...

SO WHAT if they are? Do you honestly think they are even on speaking terms at the moment after the situation that Griffths has put Dick in?

 

[Pavilionaire]

So far the whole Falmer thing to us fans has been all about getting planning permission. However, it's time to start talking about the money situation as well.

To date, the club have managed to deflect talk about funding, saying that they can't discuss it before a decision has been made so as not to prejudice the investors etc.

The way the club have spun things they make it seem that the funding for Falmer is, for want of better expression, in the bag...

Yet after this latest fiasco, and hot on the heels of the appearance of the begging bowl a few weeks ago, I couldn't honestly say I'm confident that we could raise the £50-odd million for the ground while Griffiths is still a significant shareholder and Knight remains tight-lipped about the Sporting Options fiasco.

 

[The Large One]

So far the whole Falmer thing to us fans has been all about getting planning permission. However, it's time to start talking about the money situation as well.

You can try if you want - but you know that you won't get an answer until Prescott says YES. There's enought pressure on the current investors to put their hands in their pockets again. Imagine if the names of the Falmer backers were made public - how much pressure would be brought to bear on them? They'd disappear into the ether faster than... something very fast.

The point is Pav, no-one except the characters in question knows.

Dick Knight may not be in a position to say anything. On top of his statement yesterday, maybe there is nothing to add. It is possible he genuinely doesn't know what has happened, therefore how can he add to his statement?

However, if HYPOTHETICALLY, something naughty was going on at Sporting Options, if DK made a statement, it could drop someone else in it. Similarly, keeping mum arouses suspicion. Damned if he speaks, damned if he doesn't.

How could this affect the funding? Any lenders that are going to put money into this project, they are going to expect every penny to be accounted for. That was always going to be the case. Does anyone think that the club does not talk to financial bodies on a regular basis - even if just to keep them up to speed with developments? I suspect your point is that; will backers have confidence in Dick Knight to deliver?

My point is - what has Dick Knight done to change anyone's minds?

 

[Ernest]

Well, Worzel, sorry, Ernest, can you prove to us what he has done wrong?

When someone has to resort to cheap jibes then you know they are getting uncomfortable and haven't got a proper answer.
BTW have YOU looked in the mirror lately as you might get a shock

As for your question NOBODY has accused Knight of anything yet and I'll let the Fraud Squad unravel what has happened and let them be the ones that make any if at all accusations.

 

[The Large One]

I'm the Worzel Gummidge that never made it out into the field - not effective enough. Anyway, an answer to what?

Who said anything about the Fraud Squad? Have they been called in?

 

[Ernest]

An answer to what?

Who said anything about the Fraud Squad? Have they been called yet?

Well I'd imagine that many of the punters who have lost money might want to see them involved .

 

[BUTTERBALL]

Knight has nothing to do with the day to day running of Sporting Options and cannot be implicated as he was a non-executive and I'm not too sure if he was even a shareholder.

 

[Tom Hark Preston Park]

Is Ernest TRYING to get NSC closed down?

It's all in the public domain now, Sussex police are on the case, would have thought that the standard of debate on this matter can only sink swiftly into libel territory. Only takes one poster pissed up after closing time - or a NIMBY shit-stirrer. Maybe time to close the thread? Or are the mods watching it like a hawk?

 

[The Large One]

Well I'd imagine that many of the punters who have lost money might want to see them involved .

Well, why do you want me to give an answer then?

 

[The Large One]

Wise words, cool heads, Tom. I'll stop there.

 

[Ernest]

Yes no point running around in circles answering hypothetical questions and if there is indeed anything to be uncovered it will be.

 

[Lord Bracknell]

Yet after this latest fiasco, and hot on the heels of the appearance of the begging bowl a few weeks ago, I couldn't honestly say I'm confident that we could raise the £50-odd million for the ground while Griffiths is still a significant shareholder and Knight remains tight-lipped about the Sporting Options fiasco.

What planning permission delivers to the Albion is the opportunity to trade successfully for the next hundred years by selling tickets for football matches.

What that means is that investors can weigh up whether to chip in to cover the cost of building the stadium in the certain knowledge that they will get their money back, with interest.

It's no different from a normal mortgage. When I had no job, I couldn't get any sort of long-term loan, even though I thought I would be successful, given that I had studied hard and got a degree. Without the job, how could the potential lender be certain that I'd repay the debt?

Once I got a secure job, I had no problem persuading the building society to stump up the cash to let me buy a house (even though the cost of the house was many times what I had in the bank). We signed a long-term agreement that gave me a home and the building society a return on their investment.

That's the Albion's position with the stadium. Are we a good bet for a loan? Do we qualify for grants from the economic development agencies? What about grants from sports development funds? What about investment in the business? Will the Council be a worthwhile and effective partner?

As things stand (and as proved by the Business Plan that has been independently vetted), we can look forward to a rosy future and the funds will roll in.

I'm more than happy that the likely investors will be the major financial institutions. If we were wholly dependent on apparently rich businessmen (like Griffiths?), I'd have cause to be worried. They may have a role in funding the day to day running of a club and throwing money at players, but the core money behind the business (even if it's loan finance) needs to be more stable.

One thing is certain, though. The people who run the Club need to be trusted by the financial institutions. Nothing that has come to light in the last few days causes me to question that. But, whether DK likes it or not, there may be some who will start asking awkward questions. He will need to have answers.

 

[Beach Hut]

Thread closed then

 

[SussexHoop]

Knight has nothing to do with the day to day running of Sporting Options and cannot be implicated as he was a non-executive and I'm not too sure if he was even a shareholder.

Sorry but I don't think the fact that he was a non-executive director means he cannot be implicated in any wrongdoing.

 

[Lord Bracknell]

Is Ernest TRYING to get NSC closed down?

It's all in the public domain now, Sussex police are on the case, would have thought that the standard of debate on this matter can only sink swiftly into libel territory. Only takes one poster pissed up after closing time - or a NIMBY shit-stirrer. Maybe time to close the thread? Or are the mods watching it like a hawk?

Not only watching it, Tom. But contributing to it.



This, in my opinion, is a debate that we can't avoid having.

 

[London Irish]

But, whether DK likes it or not, there may be some who will start asking awkward questions. He will need to have answers.

Indeed so. The administrators of Sporting Options and anyone they may, or may not, choose to call in.

But I don't believe it is appropriate or fair for Albion fans to be asking potentially prejudicial questions (to other parties!) that Dick Knight is no position to answer with a free hand.

As things stand, there has been no allegations made against Dick Knight's conduct and until there is, questions like the future funding arrangements for the Falmer stadium simply do not arise.