Investment

[RiG]

These interviews are just a collection of business buzzwords that mean utterly nothing.

[+Gringo]

Well, having read that interview, I can only conclude that this fella is in cuckoo land. We will see. 

[+DoofersDad]

The club Board and CEO will have had access to far more detail than has been released publicly.  One would assume they would not have agreed a deal unless there was clear evidence that everything stacked up.  They would have to utterly incompetent to to hand majority control of the club to some unknown individual unless they had this evidence. 

Ah!  I see the problem!

[+Hiro]

That interview is a very convoluted way to say that he has no actual cash.

[+snorbens_caleyman]

"That will be “not just for the people of Inverness to enjoy but also for people who come and visit and give people a reason to come and visit Inverness” so as to “bring people into the environment and let people fall in love with football”.

Well you won't get them to fall in love with it if they are playing to Ferguson's tactics

 

“The other side is our background is in entertainment, leisure and sport. We have a phenomenal amount of expertise in building these types of eco-systems."

FFS, does no one think of asking him to name a few examples???

 

There are so many fine words in what he says, without the faintest piece of evidence to suggest that any of it is true.   I suppose he's attracted to the Longman because it's also full of garbage.

File alongside Johnson's 40 new hospitals 

[Scotty]

51 minutes ago, DoofersDad said:

The club Board and CEO will have had access to far more detail than has been released publicly.  One would assume they would not have agreed a deal unless there was clear evidence that everything stacked up.  They would have to utterly incompetent to to hand majority control of the club to some unknown individual unless they had this evidence. 

Ah!  I see the problem!

This !

[big cherly]

3 hours ago, DoofersDad said:

More from the Courier interview,

 

One of the big questions that people have asked is how the deal will benefit the club: What will the new investors bring to the table? The answer on the face of it is a hugely ambitious plan to redevelop the land around Caledonian Stadium.

Taking as a cue the Tottenham Hotspur Stadium - among others - the ground and the area around it will be brought under total club control for the first time, allowing for a major redevelopment that could impact more than just the club.

Looking at the economic context of the green freeport as well as burgeoning tourism in the region, Seven7 Ventures’ Ketan Makwana wants to create “a hotbed for events, activities, entertainment and leisure”.

That will be “not just for the people of Inverness to enjoy but also for people who come and visit and give people a reason to come and visit Inverness” so as to “bring people into the environment and let people fall in love with football”.

Attractive as that ambition is, one thing lays behind it according to Mr Makwana: “The club, as I have said, is paramount - it is the first thing.

“But the irony of this is that the club is actually situated in the centre of land that sits around it and for the last 18 years that land has been separated from the club.

“Well, we are about to make history because we are going to put that land back under the club’s ownership and that is the first line of rehabilitation to stabilisation and what goes on that land will have a financial impact and reward to the club that can be reinvested back in.

“The other side is our background is in entertainment, leisure and sport. We have a phenomenal amount of expertise in building these types of eco-systems.

“So if you look at a lot of the football clubs in the UK right now some of the bigger clubs are now transitioning to have leisure and entertainment attached to sports - it is becoming a common theme.

“The reason they are doing that is because it creates a multi-purpose use of the space which also allows for tourism: sports tourism and leisure tourism.

“So what we are trying to do is build the area around the stadium to become a hotbed for events, activities, entertainment and leisure, not just for the people of Inverness to enjoy but also for people who come and visit and give people a reason to come and visit Inverness.

“Bring people into the environment and let people fall in love with football - that is the way we want to build this, it allows us to produce multiple revenue streams that then allows us to reinvest that into the club, reinvigorate it and be able to put the right amount of money into the right place.

“Furthermore, it future proofs the club so if one line of income happens to fall or fail you have still got another three or four, which allows the businesses to continue while we remedy the one that has failed.”

 

It sounds great on the surface, but this rather attractive vision begs so many questions.  There is nothing that anyone has found out about Makwana and his companies that suggests he is remotely capable of financing and delivering on such a vision.  What land is he talking about?  How can he be sure he  can acquire the surrounding land?  Exactly what developments is he planning?  How do his plans fit in with the requirements of the green freeport zone if, as he implies, some of the development would be on freeport zone land around the stadium?  And where is the money coming from?  This vision will cost vastly more than any assets we know of which he may have liquidated.

He may, of course, be acting as a front man for someone who wishes to remain anonymous at this point.  It could also be so much BS.

I don't think there is much any of us can do just now but wait and watch with our fingers crossed.

Exactly DD, 

“I’m putting my money where my mouth is”.  No he is not!! On what we’ve seen, he does not come close to be able to financing much. The money (as is mostly always with chancers like this fellow) is someone else or some groups Money. These people are happy to wheel and deal because the risk is with the funders - not there own risk. 

Where the funds come from we know most likely is Jersey. So a dead end in just where and how this money was generated. As I mentioned in another posting the money could be coming from Russian interests or rich UK dubious individuals that hold offshore accounts. I’ll use Huw Edward’s as an example. - The fact is we just don’t know how clean or not any funds forthcoming are. It may not be an issue to a lot of fans but for me it’s an uncomfortable position to be in.

I see a lot of talk about lots of plans for building and entertainment that is to be on land that will be brought (?) back into the club ownership. RIGHT!

1) I understand all the profits from the new buildings and operations goes to S7V. What if any money goes to the football side? Rental of the land?  

2) I envisage the Highland Council will be contributing (our council taxes) as part of ‘the deal’ as some form of other to the development. Ditto Scottish Enterprise (again our tax money). So S7V get us to fund part of his scheme and profits. 

3) Once the land is back in the ‘clubs’ ownership ie S7V just what guarantees is there this land is not sold on at great profit for S7V to fly the kite in 3-5 years. 
 

I could flag up the relationship between the Board, SG and Ferguson but it’s all too ‘trust -us’ for me. 
 

Count your fingers if you shake Mr Makwana’s hand!! 

Edited August 2 by big cherly

[Achfary]

2 hours ago, DoofersDad said:

“Well, we are about to make history because we are going to put that land back under the club’s ownership and that is the first line of rehabilitation to stabilisation and what goes on that land will have a financial impact and reward to the club that can be reinvested back in.

Is this the realisation of Highland Council's 2006 Longman Core Development Brief for Longman Bay? It referred to it in 2019 CGF report, which means it has some stamina as a plan.  

If Highland Council are backing this, it could happen... 

[dougiedanger]

The club will die, only now this guy and his pals will make a killing from it.

[ClickbaitProponent]

8 minutes ago, dougiedanger said:

The club will die, only now this guy and his pals will make a killing from it.

It would seem that way. Anything, and I mean anything, that has involved Gardiner should be treated as complete BS. The man is a self-serving fraud. 

[CELTIC1CALEY3]

Just now, Achfary said:

Is this the realisation of Highland Council's 2006 Longman Core Development Brief for Longman Bay? It referred to it in 2019 CGF report, which means it has some stamina as a plan.  

If Highland Council are backing this, it could happen... 

Highland Council officials may have had some contact with him but for any major development decision reports would need to go through various committees to the full Council. The next THC full meeting is on 19th September 2024.  If Makwana thinks he can complete everything by 31st August 2024 if it involves any level of complexity.....

You can also take it THC will involve expensive consultants and many experienced officials to analyse proposals.  Even Makwana cannot emerge out of nowhere to be preferred bidder on a massive development.

[IBM]

I wonder if Ketan Makwana is providing money to purchase new strips for the team tomorrow rather than using last seasons kit 

[+Fraz]

2 hours ago, IBM said:

I wonder if Ketan Makwana is providing money to purchase new strips for the team tomorrow rather than using last seasons kit 

Have the new home strips arrived? They were supposed to be sent to pre ordered folk by the 3rd week in July. Seems they have shelved the new away one after saying it was coming soon. Apprentice Boys away for another season then?

Edited August 2 by Fraz

[IBM]

1 minute ago, Fraz said:

Have the new home strips arrived? They were supposed to be sent to pre ordered folk by the 3rd week in July. Seems they have shelved the new away one after saying it was coming soon. Apprentice Boys away for another season then?

Not sure what the situation is but heard that they are unlikely to be wearing the new strip tomorrow.

[+DoofersDad]

Maybe they were delivered to Kelty?

[Yngwie]

46 minutes ago, Fraz said:

Have the new home strips arrived? They were supposed to be sent to pre ordered folk by the 3rd week in July. Seems they have shelved the new away one after saying it was coming soon.

Perhaps because there is no point launching a new strip and buying stock when the fans are boycotting purchases of merchandise? Or is it because the supplier won’t ship them because they are (understandably) concerned about getting paid, and we don’t have the funds to pay upfront?

Edited August 2 by Yngwie

[+Fraz]

15 minutes ago, Yngwie said:

Perhaps because there is no point launching a new strip and buying stock when the fans are boycotting purchases of merchandise? Or is it because the supplier won’t ship them because they are (understandably) concerned about getting paid, and we don’t have the funds to pay upfront?

Who knows, not like the club will ever say. Surely they either have to honour the preordered strips or refund? At the very least any half way competent management would at least keep the paying customers apprised? 

[RednBlackComeback]

Perhaps Gardiner forgot to order them?

[Achfary]

13 hours ago, CELTIC1CALEY3 said:

Highland Council officials may have had some contact with him but for any major development decision reports would need to go through various committees to the full Council. The next THC full meeting is on 19th September 2024.  If Makwana thinks he can complete everything by 31st August 2024 if it involves any level of complexity.....

You can also take it THC will involve expensive consultants and many experienced officials to analyse proposals.  Even Makwana cannot emerge out of nowhere to be preferred bidder on a massive development.

I agree, though someone must have pitched the idea of land having potential to Ketan, given his Courier monologue?

'The Price of Football' podcast covered this on Thursday, calling S7V 'technically insolvent'.  They said the Factortech [et al] link was a mortgage, which is odd, they said, given S7V was technically insolvent. They also state the money put into ICT's bank was £30,000 (but said there could be other money being paid to shareholders). This thirty grand could just be a sweetener/running costs and separate from monies to ownership. 

On ICT side, normally, section 175 & 177 of Companies Act 2006, would require directors of ICT to be transparent (i.e., on declarations of interest in a transaction/conflict of interest), but it applies individually, and if the other directors are aware/have authorised, then there's a loophole there.

Highland Council of course have to go through internal processes, and a few external ones, but they do have a lot of control and delegated powers, including ones they can choose to use that they haven't in the past. 

--It could be as simple as the current board want to get other people in (S7V) who don't look before they leap, before administration kicks in, so they can be disassociated with all the fall out/hassle/scrutiny and/or be a creditor when it does.

--It could also be the case that some have, over the last several months, been busy working out how the fruits of the land could be ripened, to hastening ill a prey.

It is the lack of noise among shareholders that is concerning.  Charles has already listed the large shareholdings, and except for Savage, there's been no comment or movement.

The custodians and decision makers are now Thomas Panos as Chairman, Scot Gardiner as CEO, and soon a 'technically insolvent' Seventy7Ventures, while the large shareholders (except for one) just walk on by.  

[CELTIC1CALEY3]

 

5 hours ago, Achfary said:

I agree, though someone must have pitched the idea of land having potential to Ketan, given his Courier monologue?

Given that all discussions appear to have been carried out remotely (until his first ever visit to Inverness on 13th July 2024) - unless Directors met him in London - it would be easy to get carried away on use of land under ICT's control.  His vision in the video goes off the radar.  I wonder what David Sutherland or George Fraser think?

[RiG]

There's a section on us around 10:45. More red flags than a Ferrari F1 victory is the phrase used to describe this proposed takeover. Sigh... 

 

[+snorbens_caleyman]

9 minutes ago, RiG said:

More red flags than a Ferrari F1 victory is the phrase used to describe this proposed takeover. Sigh...

Makwana has two main things that he can do to allay concerns:

1) Publicly state some idea of how much money there is to invest in the club, and where it's coming from.  He must have a business plan, so he must know. Yes I know that there are NDAs and confidential loans, but he surely must have given the Board some idea?  A ballpark figure with assurance that it is rooted in reality would be helpful.

2) Publicly provide some examples of other successful developments that he has fronted.  Not "been involved in", not "did some consultancy on", but "fronted" - where he has been the main man in making things happen.

Until he does both of these, we are entitled to treat him, and the Board, with nothing but sceptism.  And that's putting it politely!

[Jack Waddington]

18 hours ago, Fraz said:

Have the new home strips arrived? They were supposed to be sent to pre ordered folk by the 3rd week in July. Seems they have shelved the new away one after saying it was coming soon. Apprentice Boys away for another season then?

Don't shoot the messanger but from what I've heard, they're being held hostage in a shipping container down south cos the genius that is Scot Gardiner hasn't paid for them...

[forthefanssubstack]

On 8/1/2024 at 6:42 PM, Huisdean said:

That's the spirit eh, don't support your team when they really need you. Ownership of the club, board  membership will be sorted out one way or another but do many of our "fans" actually want the club to survive. Will you be one of the fans watching from the bridge again?.

I really do wonder if many fans care whether we survive or not but as long as "they" win the argument and get the board and CEO out, club fail to find a new owner thst they like, they will be happy as they have won.

You misunderstood me.

I meant that I had asked Makwana if he planned to show up today and he said no.

So, when the previous poster asked if he was going to show up, that's what my post was in reference to, not myself.

[forthefanssubstack]

On 8/1/2024 at 9:49 PM, CELTIC1CALEY3 said:

At least the Courier managed to get him talking but maybe he loves his own voice. Legal contracts do take a lot of time to finalise so 31 August 2024 may be optimistic. There seem many key issues to tie up.

Everything still seems too good to be true.

Whenever I get him talking, he shuts down the conversation as soon as it gets on to any remotely pressing question.