DA-go Par Adonis Posted November 22, 2012 Share Posted November 22, 2012 (edited) I'm guessing the rumour is that there is a plan to liquidate DAFC, leave EEP without a tenant and then sell it. I'm sceptical, There's a huge amount of debt secured against EEP, plus interest and tax payable upon disposal according to the accounts. He'd likely have to shift it for £15m to clear all of that and he'd be writing off the £8m he's owed by DAFC in the process (which he's unlikely to ever see mind you). If someone's telling me he has a £25m deal lined up with a developer or supermarket, the source is impeccable and the council are happy to grant permission for EEP to be bulldozed, then fair enough. Edited November 22, 2012 by DA-go Par Adonis 0 Quote Link to comment Share on other sites More sharing options...
DAFC Posted November 22, 2012 Share Posted November 22, 2012 I keep coming across the same website, it seems that from what I can tell Masterton was one of the key players in changing the culture of BOS into HBOS etc. He mentored Cummings and the BOS Corporate group. From what I can tell this group was a high risk part of the Bank and encouraged property development. This group was investigated by the police as part of their operation hornet investigation. On the same website Dominic Keane the former Director of Livingston said that he was duped into investing money into GM's stadia group as he felt that he was misled as he felt that it was not a private business venture and was backed by BOS rather than stadia group. I think Keane should have checked before handing over the money but I am also concerned at these articles, this isn't some tinfoil hat wearing loon it's a well respected author and journalist who has his researched for BBC programs and many broadsheet Newspapers. http://www.ianfraser.org/ I do not share the same opinions of this website but think that it is very interesting reading. 0 Quote Link to comment Share on other sites More sharing options...
funky_nomad Posted November 22, 2012 Share Posted November 22, 2012 Been away from P&B for a while, and I know I might regret it, but a PM on the issue would be welcome... 0 Quote Link to comment Share on other sites More sharing options...
The Chef Posted November 22, 2012 Share Posted November 22, 2012 Can I get a PM too please. Dreading reading it mind you. 0 Quote Link to comment Share on other sites More sharing options...
phantoms-livi-lass Posted November 22, 2012 Share Posted November 22, 2012 When & why did GM sell the stadium from DAFC.Ltd to one of his other companies EEP & now he is renting it? I can't find any articles online & I'm baffled by the sale, there must have been uproar from the support at the time. 0 Quote Link to comment Share on other sites More sharing options...
Raith Against The Machine Posted November 22, 2012 Share Posted November 22, 2012 When & why did GM sell the stadium from DAFC.Ltd to one of his other companies EEP & now he is renting it? I can't find any articles online & I'm baffled by the sale, there must have been uproar from the support at the time. It sounds like GM started his company (The Stadia Group? Something like that) with the idea of taking ownership of a lot of grounds in Scotland and then using expertise to generate extra income and reduce costs by routing them all through his company, with most of this money going to the clubs and some coming back to him as profit. On the face of it, it's actually not a horrible idea. Convincing clubs to part with their own grounds is a massive ask though, and I imagine you'd need at least four or five grounds on board before you started to see benefits across the board. Of course, it helps to get the ball rolling if you happen to be majority shareholder of a club that owns its own stadium... 0 Quote Link to comment Share on other sites More sharing options...
phantoms-livi-lass Posted November 22, 2012 Share Posted November 22, 2012 It sounds like GM started his company (The Stadia Group? Something like that) with the idea of taking ownership of a lot of grounds in Scotland and then using expertise to generate extra income and reduce costs by routing them all through his company, with most of this money going to the clubs and some coming back to him as profit. On the face of it, it's actually not a horrible idea. Convincing clubs to part with their own grounds is a massive ask though, and I imagine you'd need at least four or five grounds on board before you started to see benefits across the board. Of course, it helps to get the ball rolling if you happen to be majority shareholder of a club that owns its own stadium... It was Stadia Group, although there were a lot of subsidiary companies connected to it, they were planning to build hotels, flats etc around the football grounds. East End Park is now owned by EEP which is also his company, I didn't have a clue what the benefit was. 0 Quote Link to comment Share on other sites More sharing options...
Beachbum Posted November 22, 2012 Share Posted November 22, 2012 It was Stadia Group, although there were a lot of subsidiary companies connected to it, they were planning to build hotels, flats etc around the football grounds. East End Park is now owned by EEP which is also his company, I didn't have a clue what the benefit was. It was sold to reduce their debt. 0 Quote Link to comment Share on other sites More sharing options...
dunfermline loyal Posted November 22, 2012 Share Posted November 22, 2012 can I have the PM please? 0 Quote Link to comment Share on other sites More sharing options...
Fife Saint Posted November 22, 2012 Share Posted November 22, 2012 Grim stuff on those accounts. Dreadful management regardless of the business nature. 0 Quote Link to comment Share on other sites More sharing options...
dafcburty Posted November 22, 2012 Share Posted November 22, 2012 http://dafc.info/forum/read.php?f=1&i=1222954&t=1222954 Included in this week's matchday programme, an interview with Gavin Masterton revealing what he has done for the club, what the current situation is and the steps being taken to resolve these issues. 0 Quote Link to comment Share on other sites More sharing options...
Islay Posted November 22, 2012 Share Posted November 22, 2012 revealing what he has done for the club I'll summarise it for him: brought us to the brink of ruin! 0 Quote Link to comment Share on other sites More sharing options...
GordieBoy80 Posted November 22, 2012 Share Posted November 22, 2012 (edited) http://dafc.info/for...22954&t=1222954 Included in this week's matchday programme, an interview with Gavin Masterton revealing what he has done for the club, what the current situation is and the steps being taken to resolve these issues. I wonder what bullshit we'll be told to shut up and take now. Translation for dafc.net Gavin Masterton is wonderful and we will swallow whatever he says. Edited November 22, 2012 by GordieBoy80 0 Quote Link to comment Share on other sites More sharing options...
Parscelona Posted November 22, 2012 Author Share Posted November 22, 2012 http://dafc.info/forum/read.php?f=1&i=1222954&t=1222954 Included in this week's matchday programme, an interview with Gavin Masterton revealing what he has done for the club Incredible, absolutely incredible. 0 Quote Link to comment Share on other sites More sharing options...
Raith Against The Machine Posted November 22, 2012 Share Posted November 22, 2012 "The club's fine, and we're definitely not desperate for cash. Just give me £2 and I'll explain the whole situation..." 0 Quote Link to comment Share on other sites More sharing options...
dafcburty Posted November 22, 2012 Share Posted November 22, 2012 Just for the record - I'm only passing on the message from .net and not saying GM has done anything for the club, or what he says is true or the full truth! 0 Quote Link to comment Share on other sites More sharing options...
dafcburty Posted November 22, 2012 Share Posted November 22, 2012 "The club's fine, and we're definitely not desperate for cash. Just give me £2 and I'll explain the whole situation..." £3 actually 0 Quote Link to comment Share on other sites More sharing options...
Beachbum Posted November 22, 2012 Share Posted November 22, 2012 http://dafc.info/for...22954&t=1222954 Included in this week's matchday programme, an interview with Gavin Masterton revealing what he has done for the club, what the current situation is and the steps being taken to resolve these issues. You can bet that that thread won't be pulled, unlike the one that appeared this afternoon for all of 5 minutes claiming that the electricity would have been shut off if payment wasn't made by 3.00pm. Enter Purvisman to save the day. Allegedly. Maybe Brian's been at the keyboard all that time pressing delete on any thread that hinted at the aforementioned. 0 Quote Link to comment Share on other sites More sharing options...
GordieBoy80 Posted November 22, 2012 Share Posted November 22, 2012 You can bet that that thread won't be pulled, unlike the one that appeared this afternoon for all of 5 minutes claiming that the electricity would have been shut off if payment wasn't made by 3.00pm. Enter Purvisman to save the day. Allegedly. Maybe Brian's been at the keyboard all that time pressing delete on any thread that hinted at the aforementioned. Of course it won't be pulled, the person who put it up is another admin puppet. 0 Quote Link to comment Share on other sites More sharing options...
Poet of the Macabre Posted November 22, 2012 Share Posted November 22, 2012 That is grade A propaganda from GM. Fair play to the guy, I'd be keen to buy a programme now. 0 Quote Link to comment Share on other sites More sharing options...
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