Return to Website

Away From The Numbers

All good things come to an end. Or so they say. AFTN has been around since 1989, first as a fanzine and then making the jump to a website and forum in 2003. We've been through the many ups and down at East Fife in those 12 years but policing the forum has become a giant pain in the ass in recent years. As such, we made the decision not to renew it when it expired.

The forum is no more and will remain as a locked archive until it is eventually deleted by the host. We're looking in to try to save some of the content as an archive.

This is not the end of AFTN though. The site will continue and will be revamped and return in its full glory for the start of the 2016/17 season. Maybe even sooner. There will be a comment sections and possibly even a new, registered forum. Check our Twitter (@aftnwebsite) for all the latest info and we'll also post in on the EFFC memories Facebook page.

Until then, have a last browse here, thanks for all your support over the years, and 'Mon the Fife.

GoF

 

East Fife
This Forum is Locked
Author
Comment
EFSS Buyout Update

This is a copy of the newsletter emailed to supporters. We'll also be distributing it at the next home game on Saturday.
If you'd like the next update emailed to you please send your full name and email address to member@buyeastfife.org.

Campaign update

Newsletter No 2 September 18 2014

Response from Fans' Meeting
We've had a great response from the meeting and over 100 people have pledged their support. We would encourage everyone to spread the word by using our Twitter account @buyeastfife and Facebook page.

What's Been Happening
We have appointed Begbies Traynor to act as our financial advisers and they have been getting the process moving.
We have formally written to the majority shareholders expressing our wish to make an offer for the club and requesting access to all relevant financial information. They are also helping with drawing up our business plan and financial forecasts showing how the club would be be run. This will take us some time to compile but we are confident we can put together plans which will keep the club financially secure. As part of this we are having the club's land valued.
We have also been in contact with an adviser to the majority shareholders to ensure they are kept in the picture while the formal processes are being dealt with.
We have spoken with a number of supporters who have indicated they are willing to become Founder Members by donating at least a four figure sum and we're delighted to say that almost £20,000 has been promised in this way.
We have also been in contact with Square Knot who have agreed to contact all those who had previously pledged to the club shop to see if they would redirect their pledge to support our Buyout campaign. An astonishing 44 out of 49 replies indicated they would do so. Once we have created a written agreement with the majority shareholders the pledgers will be contacted again by Square Knot and asked to re-commit.
We have also met on three occasions with the board of EFFC to see if we can all work together rather than have competing bids. So far we have not yet reached agreement but communication remains open as we would certainly want to have the benefit of their experience.

What Next?
Once the due diligence has been carried out we will review our bid.
We will then consult with you to confirm that there is still support for our bid and that our financial proposals still hold up.
Assuming they do, we will present our formal bid to buy the club and then we will take ownership.
A new board will then take over.

What Can I Do?
We will succeed if we have the ongoing support of people, not just financially but in other ways. The best thing to happen is that you offer to help with the running of the club using whatever skills you have and whatever time commitment you can manage.

You can tell us what you're willing to do by emailing member@buyeastfife.org

Thanks you again for your support.
East Fife Supporters Society Working Group

Re: EFSS Buyout Update

Eugene Clarke
This is a copy of the newsletter emailed to supporters. We'll also be distributing it at the next home game on Saturday.
If you'd like the next update emailed to you please send your full name and email address to member@buyeastfife.org.

Campaign update

Newsletter No 2 September 18 2014

Response from Fans' Meeting
We've had a great response from the meeting and over 100 people have pledged their support. We would encourage everyone to spread the word by using our Twitter account @buyeastfife and Facebook page.

What's Been Happening
We have appointed Begbies Traynor to act as our financial advisers and they have been getting the process moving.
We have formally written to the majority shareholders expressing our wish to make an offer for the club and requesting access to all relevant financial information. They are also helping with drawing up our business plan and financial forecasts showing how the club would be be run. This will take us some time to compile but we are confident we can put together plans which will keep the club financially secure. As part of this we are having the club's land valued.
We have also been in contact with an adviser to the majority shareholders to ensure they are kept in the picture while the formal processes are being dealt with.
We have spoken with a number of supporters who have indicated they are willing to become Founder Members by donating at least a four figure sum and we're delighted to say that almost £20,000 has been promised in this way.
We have also been in contact with Square Knot who have agreed to contact all those who had previously pledged to the club shop to see if they would redirect their pledge to support our Buyout campaign. An astonishing 44 out of 49 replies indicated they would do so. Once we have created a written agreement with the majority shareholders the pledgers will be contacted again by Square Knot and asked to re-commit.
We have also met on three occasions with the board of EFFC to see if we can all work together rather than have competing bids. So far we have not yet reached agreement but communication remains open as we would certainly want to have the benefit of their experience.

What Next?
Once the due diligence has been carried out we will review our bid.
We will then consult with you to confirm that there is still support for our bid and that our financial proposals still hold up.
Assuming they do, we will present our formal bid to buy the club and then we will take ownership.
A new board will then take over.

What Can I Do?
We will succeed if we have the ongoing support of people, not just financially but in other ways. The best thing to happen is that you offer to help with the running of the club using whatever skills you have and whatever time commitment you can manage.

You can tell us what you're willing to do by emailing member@buyeastfife.org

Thanks you again for your support.
East Fife Supporters Society Working Group

Eugene, £20,000 seems to be a lot initially, but where is the other £380,000 coming from? Are any of the Steering Group in a position to raise a substantial amount to buy out the major shareholder? I would hope anyone who is capable of forming a group to buyout the major shareholders would have substantial funds themselves otherwise we will be in the same position as the old pensioners who are running the club at the moment. If this group is going to take over the club I would have thought that they would be successful in their own right or we could be back where we started from.

Re: EFSS Buyout Update

????
Eugene Clarke
This is a copy of the newsletter emailed to supporters. We'll also be distributing it at the next home game on Saturday.
If you'd like the next update emailed to you please send your full name and email address to member@buyeastfife.org.

Campaign update

Newsletter No 2 September 18 2014

Response from Fans' Meeting
We've had a great response from the meeting and over 100 people have pledged their support. We would encourage everyone to spread the word by using our Twitter account @buyeastfife and Facebook page.

What's Been Happening
We have appointed Begbies Traynor to act as our financial advisers and they have been getting the process moving.
We have formally written to the majority shareholders expressing our wish to make an offer for the club and requesting access to all relevant financial information. They are also helping with drawing up our business plan and financial forecasts showing how the club would be be run. This will take us some time to compile but we are confident we can put together plans which will keep the club financially secure. As part of this we are having the club's land valued.
We have also been in contact with an adviser to the majority shareholders to ensure they are kept in the picture while the formal processes are being dealt with.
We have spoken with a number of supporters who have indicated they are willing to become Founder Members by donating at least a four figure sum and we're delighted to say that almost £20,000 has been promised in this way.
We have also been in contact with Square Knot who have agreed to contact all those who had previously pledged to the club shop to see if they would redirect their pledge to support our Buyout campaign. An astonishing 44 out of 49 replies indicated they would do so. Once we have created a written agreement with the majority shareholders the pledgers will be contacted again by Square Knot and asked to re-commit.
We have also met on three occasions with the board of EFFC to see if we can all work together rather than have competing bids. So far we have not yet reached agreement but communication remains open as we would certainly want to have the benefit of their experience.

What Next?
Once the due diligence has been carried out we will review our bid.
We will then consult with you to confirm that there is still support for our bid and that our financial proposals still hold up.
Assuming they do, we will present our formal bid to buy the club and then we will take ownership.
A new board will then take over.

What Can I Do?
We will succeed if we have the ongoing support of people, not just financially but in other ways. The best thing to happen is that you offer to help with the running of the club using whatever skills you have and whatever time commitment you can manage.

You can tell us what you're willing to do by emailing member@buyeastfife.org

Thanks you again for your support.
East Fife Supporters Society Working Group

Eugene, £20,000 seems to be a lot initially, but where is the other £380,000 coming from? Are any of the Steering Group in a position to raise a substantial amount to buy out the major shareholder? I would hope anyone who is capable of forming a group to buyout the major shareholders would have substantial funds themselves otherwise we will be in the same position as the old pensioners who are running the club at the moment. If this group is going to take over the club I would have thought that they would be successful in their own right or we could be back where we started from.


The worth of the Twigg/Johnston shares will be what EFSS decides is a fair price based on many factors including the Stadium, land etc but most importantly the financial state of the club, hence the appointment of BTG to do the forensic accounting check.

Re: EFSS Buyout Update

BU002
????
Eugene Clarke
This is a copy of the newsletter emailed to supporters. We'll also be distributing it at the next home game on Saturday.
If you'd like the next update emailed to you please send your full name and email address to member@buyeastfife.org.

Campaign update

Newsletter No 2 September 18 2014

Response from Fans' Meeting
We've had a great response from the meeting and over 100 people have pledged their support. We would encourage everyone to spread the word by using our Twitter account @buyeastfife and Facebook page.

What's Been Happening
We have appointed Begbies Traynor to act as our financial advisers and they have been getting the process moving.
We have formally written to the majority shareholders expressing our wish to make an offer for the club and requesting access to all relevant financial information. They are also helping with drawing up our business plan and financial forecasts showing how the club would be be run. This will take us some time to compile but we are confident we can put together plans which will keep the club financially secure. As part of this we are having the club's land valued.
We have also been in contact with an adviser to the majority shareholders to ensure they are kept in the picture while the formal processes are being dealt with.
We have spoken with a number of supporters who have indicated they are willing to become Founder Members by donating at least a four figure sum and we're delighted to say that almost £20,000 has been promised in this way.
We have also been in contact with Square Knot who have agreed to contact all those who had previously pledged to the club shop to see if they would redirect their pledge to support our Buyout campaign. An astonishing 44 out of 49 replies indicated they would do so. Once we have created a written agreement with the majority shareholders the pledgers will be contacted again by Square Knot and asked to re-commit.
We have also met on three occasions with the board of EFFC to see if we can all work together rather than have competing bids. So far we have not yet reached agreement but communication remains open as we would certainly want to have the benefit of their experience.

What Next?
Once the due diligence has been carried out we will review our bid.
We will then consult with you to confirm that there is still support for our bid and that our financial proposals still hold up.
Assuming they do, we will present our formal bid to buy the club and then we will take ownership.
A new board will then take over.

What Can I Do?
We will succeed if we have the ongoing support of people, not just financially but in other ways. The best thing to happen is that you offer to help with the running of the club using whatever skills you have and whatever time commitment you can manage.

You can tell us what you're willing to do by emailing member@buyeastfife.org

Thanks you again for your support.
East Fife Supporters Society Working Group

Eugene, £20,000 seems to be a lot initially, but where is the other £380,000 coming from? Are any of the Steering Group in a position to raise a substantial amount to buy out the major shareholder? I would hope anyone who is capable of forming a group to buyout the major shareholders would have substantial funds themselves otherwise we will be in the same position as the old pensioners who are running the club at the moment. If this group is going to take over the club I would have thought that they would be successful in their own right or we could be back where we started from.


The worth of the Twigg/Johnston shares will be what EFSS decides is a fair price based on many factors including the Stadium, land etc but most importantly the financial state of the club, hence the appointment of BTG to do the forensic accounting check.

I think you are being a bit naïve thinking we are in a position of strength. from what I have heard they want 400K for the majority shareholding. It will not matter how deep in the mire the club is, they will want 400K. The major shareholders will not give a toss how much in debt the club is, you can offer what you want, and if you get only 20K up front they might not accept that. It will then take 15 years at a 2K a month (that's 100 people pledging £20 a month, every month for the next 15 years) I hope a big sugar daddy is found, otherwise as much as I would like a community club, this is just a pipe dream. All said and done all we have are pledges, not real money.

Re: EFSS Buyout Update

A product is only worth wht someone is willing to pay for it. You may want to sell your house for £400k but if it's in an absolute mess and not worth a fraction of that then you will not get £400k. Think about it.

Re: EFSS Buyout Update

Is there a time frame in mind?

Re: EFSS Buyout Update

Presumably as soon as due diligence checks are done by BTG and the worth of the club is known then the next step can be taken. I would like to think that in around a month the fans will have been notified as to how much we need to raise. Dependant of course on Twigg/Johnston's response to an initial offer.

Re: EFSS Buyout Update

Because the situation is complex we are not putting any time specific target for any part of the process.

As was said above, communication is continuing both with the club directors, with the representatives of the majority shareholders and of course with our own professional financial and legal advisers.

When we have specific news to impart we will do so.

Re: EFSS Buyout Update

The publicity shy Alan Duthie has no profile picture in buyeastfife.org

Come on Donald Sutherland surely you can compete with the rest of the bunch!

Re: EFSS Buyout Update

I see that Paul Goodwin is no longer in his post with supporter's direct. Say's he's not done with football though...