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Club Statement Raises More Questions Than Answers

Club Statement Raises More Questions Than Answers

Nottingham Forest Chief Executive Officer Mark Arthur, has confirmed through an official club statement, that the financial future of the club is secure until the beginning of the 2012/13 season and that talks are taking place to find new owners for the club.

Following the death of former owner Nigel Doughty in February, talks have been taking place with his estate to discuss the way forward for the club. Mark Arthur said. 'The new arrangements will cover the period up to the start of the 2012/13 season while discussions take place with potential purchasers. Discussions are taking place with several parties who have expressed an interest in acquiring the Club.'

The 'new arrangements' are in stark contrast to what was said by new Chairman Frank Clark in an interview he gave to Vital Forest, shortly after his appointment in November 2011. Frank Clark told us. 'Nigel has pledged to honour existing contracts for the next two and a half years, as well as financing the day to day running of the club in that time.'

The comments made by Mark Arthur yesterday, do not make clear whether Nigel Doughty's financial pledge will be honoured after the start of the 2012/13 season, or whether that financial security will be withdrawn. It also makes no mention of the £75.6m invested into the club by way of loans from Nigel Doughty, or whether that money has to be repaid, or recouped through any potential sale of the club. It all makes for an uncertain future for NFFC and its supporters.

The good news is that there does appear to be interest in buying the club and from more than one party. In the meantime and whilst talks continue, we can only hope we manage to retain our Championship status and that new fit and proper owners are found soon.

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Writer:guinless
Date:Saturday March 10 2012
Time: 9:10AM

Comments

0
I thought that it was a more clear cut statement than that. It says that support will be given until the beginning of the 2012-13 season so therein lies the timescale. ND could have given verbal assurances to Clarke but in the event of ND's untimely death all that will count is the view of whoever has the controlling interest over the estate. I think it is bad news in that it looks to me as if support will be withdrawn at that time. They have also left hanging in the air the question of whether the loan payments will have to be repaid or not. It all points to the fact that we need new owners pretty sharpish in my view as my gut feeling is it will all unravel in a bad way for the club if new owners are not found.
nvl
11/03/2012 13:41:00
0
I agree with nvl that we can only go by what is in the actual document - Clarke could indeed have been told by the late ND that there was more coming but that’s just words - legal papers are what count. But how the editor of this site can seek any comfort in the fact that Martha says 'Discussions are taking place with several parties who have expressed an interest in acquiring the Club.' Because that could mean anything - I could be in discussion with the club over my five quid offer - it means nothing and is the normal BS rhetoric that we have come to expect from the clubs PR machine over the last few years to appease fickle fans Remember when Clarke took the job last year he said at the press conference 'anybody who wants to buy a football club at the moment must be crackers' And he is supposed to be the bloke helping to sell it There is trouble ahead
essexman
12/03/2012 10:01:00
0
I disagree.It all seems fine to me.This is post ND.It will be a new era.ND's estate are hopefully altruistic.However even if not it makes compelling business sense to run the club as a lean succesful business until sale and this is what we need.They will need to keep some value in the club-business is business and it realistically the club will only sell for what it is worth not what it owes on paper.What we need to be alive to is potential owners being fit and proper persons-we do not want gangsters or spivs or G. Bvy types-we need to avoid a Pompey Plymouth or Rangers.We need to be ready to be vocal and more should a smiling vulture take a fancy to having a dump by the Trent.
gedling52
12/03/2012 21:15:00
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