Exiled Bull considers an advert:
Debt-Paying Mug wanted
Over the last few months, the current stewards of Hereford United have spoke regularly of “investors”. This is surely a misnomer. Investors expect a return on their monies but the Bulls have no assets, only mounting debts. They don’t own the ground, the ever-rotating group called the players have probably no transfer value whatsoever. The local authority is making increasingly hostile noises to take possession of their community asset , HMRC are sharpening their studs and every week outgoings are outstripping income. What is really required is a wealthy mug to pay debts.
Just how does anyone sell this investment?
“Oh its a wonderful opportunity. No, OK there isn’t much income, no the ground is rented and yes, there are debts. Yes, its true most customers are boycotting and a FA Charge too but everything is OK really. The quality of our young players is outstanding and I’m sure they’ll move clear of the relegation zone any day now.
Over the last few months, the current stewards of Hereford United have spoke regularly of “investors”. This is surely a misnomer. Investors expect a return on their monies but the Bulls have no assets, only mounting debts. They don’t own the ground, the ever-rotating group called the players have probably no transfer value whatsoever. The local authority is making increasingly hostile noises to take possession of their community asset , HMRC are sharpening their studs and every week outgoings are outstripping income. What is really required is a wealthy mug to pay debts.
Just how does anyone sell this investment?
“Oh its a wonderful opportunity. No, OK there isn’t much income, no the ground is rented and yes, there are debts. Yes, its true most customers are boycotting and a FA Charge too but everything is OK really. The quality of our young players is outstanding and I’m sure they’ll move clear of the relegation zone any day now.
No, no shirt sponsors or a club shop yet but you can help with that. Think about the value of the land. Its not important we don’t own it yet. We can soon sort that out. I don’t worry about the covenant or that its an Asset of Community Value.
Yes, the Chairman has a criminal record, and yes so has the former owner and our accountant is a technical bankrupt but we’re trustworthy people and hey, laws today are so draconian and OTT. We just need £1.5 million to pay this debt and I’m afraid it does have to be this month. Can we shake on that? My word is my bond.”