Question for MUST insiders - Phoenix Fund

Sir A1ex

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One for Ralphie, and anybody else close to the inner machinations of MUST...

Any idea what the current plans are for the Phoenix Fund, if the Red Knight's bid goes ahead? Will it be involved, and so converted into shares? If so would thist be part of the 25% "Fans stake"?

Or will it end up not being relevant, given it's size in relation to the numbers being thrown about for a buy-out?
 
I can't answer for sure, but I suspect it's been earmarked to be converted into shares in the club (part of the 25%) should the takeover be successful. That said, the amount is only 100th of what will probably be needed in the end.
 
I got an email from MUST. I hardly understood the questions.
 
ralphie88 said:
I suspect it's been earmarked to be converted into shares in the club (part of the 25%)
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Do you have any more details on how that's going to work?

The only way I can envisage "the 25% fan ownership for ever" working out is if that 25% is converted into non-dividend-paying equity which is the property of members in a model along the lines of the Spanish "Socio" set-up. If it is converted into any kind of normal shares, then the long-temr security is nmo more guaranteed than it was under the PLC.

But if it is done the way I've suggested,then taht is really compatible with teh Phoenix Fund cash going into it. The cash would just be disappearing into a black hole in effect, with no accountability for who has put in how much.
It could be converted into an equivalent long-term membership (eg if membership is £100 per year and you've got £500 in there you get 5 years membership), but I'm nto sure that works out - there must be a few people with enough in there to end up with hundreds of years of membership!
 
Still very early stages Aidan for confirmed details. The idea is that the whole ownership structure will be one that keeps the club in the hands of the fans for perpetuity. That includes the 75%, not just the 25%.
 
ralphie88 said:
Still very early stages Aidan for confirmed details. The idea is that the whole ownership structure will be one that keeps the club in the hands of the fans for perpetuity. That includes the 75%, not just the 25%.
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Yeah, fair enough. Will be intrigued to see how it works out.

Must admit, times being what they are, I could quite do with some of that cash... I'll be leaving it in for now, but if there ended up being a deal where the Red Knights etc got in anyway, and we ended up with shares, I'd have to think about selling some of mine... to an approriate party, of course!:nervous:
 
Ralphie, what's your position in MUST?

I notice that any kind of question regarding MUST has a beginning line of This one's for Ralphie and Impy. Are you guys up in the chain? or you guys are just members who are on the email list?
 
As far as I know Ralphie's just a member like anybody else, but he attends pretty much all the meetings, and so knows what's going on pretty well, and probably talks to those who hold positions within MUST.

Impy cleans the toilets and is a Glazer apologist at heart.:smirk:
 
Sultan said:
I got an email from MUST. I hardly understood the questions.
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a bit too specific leaving little room for individual circumstances and not allowing accurate answers

still, I suppose they answer the questions that they want answering
 
Denis' cuff said:
a bit too specific leaving little room for individual circumstances and not allowing accurate answers
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I've already put this to Ralphie, it wasn't a clever peace of research at all

I don't think the results of a survey so loaded and contrived will be particularly useful myself

But in fairness, it's the first thing I've seen MUST do poorly since the bond prospectus was issued

Mr Drasdo has become a virtual constant presence on my TV screen :D
 
as much as i would love to put my hard earned cash into this, i just find the details very very sketchy.....
 
Theres no such thing as MUST, its all a front by the glazers whom invested heavily on the green and gold scarf making industry.
 
thebelfastboy said:
as much as i would love to put my hard earned cash into this, i just find the details very very sketchy.....
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It's not really about putting your xash in at the moment, thanks all the same (presuming you're not a multi-millionaire considering a serious investment!). The Phoenix fund has always been there as a "war chest", ready to go if an opportunity arose. Those who wanted to help with such a fund generally already have, and those looking for less "sketchy" investment probably shouldn't bother.
 
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