Taken from our NU-Mad message board, Jonny says: "most of my concerns remain".
The scheme will allow for investment from private investors, pension funds and companies.
JR: Why would someone invest more than the minimum? Why invest/risk at least £25k of your pension? Especially when you have no more control than someone who invested £1500.
The investment in NUFC will aim to return annual interest of 2% on funds invested. A total of £200m would cost the club £4m per year (against a current annual interest cost of £3.9m).
This would provide significant working capital for player transfers and football related business.
JR: Claiming investments will get a 2% return ---------- well firstly that rules out anyone investing for the returns - you can get higher 100% guaranteed return from a simple bank account.
2% return - from a football club? Already in financial hardship? -- FFS issued dividends when he should of.
What if they bought the club and we didnt get promoted? Or were promoted and then relegated? It wouldnt be a 2% return it would be a loss.
The day to day management of the club will be carried out by suitably qualified professionals, on appropriate contracts, supported by a number of non-executive directors appointed by the Trust
JR: Not by the fans/investors? not even by the democratically elected president? but by thed TRUST ----- hmmmmmmmmmm.
The Football Club board composition will be a President, Chief Executive Officer, Finance Director, Legal Director, Commercial Director, with the President elected and accountable for the performance of the football team during his or her tenure.
It will also consist of 6 members directly elected through the Supporters Trust. The Football Club will be responsible for all football and commercial matters of NUFC.
6 members directly elected THROUGH THE TRUST plus 5 other members APPOINTED BY THE TRUST.
Members will be able to vote and stand for election, with a view to taking a position on the Trust board, which will be responsible for appointing supporters' representatives to the Board of Newcastle United Football Club.
My my the TRUST is gaining in power.
So the fans get to elect a president - THE TRUST appoint everyone else to the board.
If this works its not the president who has control its the TRUST BOARD - which is a big concern.
Never mind the figures - they are optimistic in the extreme.
Unless they could raise enough in the next few months it might be too late - if we get promoted the asking price will virtually double - no fecking chance!
! will be interested to see what their 'business plan' consists of.
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