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Q&A with Carl Reader
- Thread starter Napster
- Start date
- Status
brigg blue
Newbie⭐
Apologies if this comes across as negative but I'd hate for the club to go from bad to worse.
I can't find any filings for seventy7 ventures at companies House except for the incorporation in 2021, why should we believe you have the funds to support the club financially?
I can't find any filings for seventy7 ventures at companies House except for the incorporation in 2021, why should we believe you have the funds to support the club financially?
Mr Browns Ghost
Youth Team
It would Need to go some got that to happen
Carl
Striker
Great question.
Seventy7 Ventures is similar to most other VC's etc in that it is effectively a brokerage for investment, and yes it is a new company.
The investment has been secured from a Monaco based pension fund - at this stage of the negotiations (or more accurately lack of) I'm not prepared to disclose exactly which one, but can assure you that they have had the tyres kicked by us insofar as the scope of investment, the split between club and development, and also the budget for sustaining the club going forwards.
As we've all seen, a project like this is beyond the reach of most individuals, and I'd be lying if I tried to pretend that I was fronting the money myself. But, we've got institutional funders who are in it for the long term.
Carl
Striker
My off the cuff response would be because I've seen it in the news since I was a teenager and it hasn't happened yet - but more accurately I'd claim there's not enough money going into the football club to sustain it.
As for developments, personally no however the team at Seventy7 are involved in some major projects in East London. We wouldn't have got the funding lined up if we didn't know what to do with it :-)
rigsby
Life President⭐🦐
When you was a teenager Sainsburys we’re going to fund the project….. I’m sure they had the funds.
Hi Carl, why now? I appreciate buying a football club isn’t something that happens overnight but as you’ve alluded to already and as we all know, the troubles this club has faced with its current owner in charge has gone on for many years. Why suddenly act now? And by the way, for what it’s worth.. I as I’m sure everybody else would welcome change and from the little you’ve said so far, it sounds positive.
dbailey3
Bootman
As a 25 year old, my whole supporting life has been overshadowed by finance woes, new stadium BS, relegations etc. Id love to just support a club that isnt so constantly drowning in problems and can thrive. Therefore Ill spare you the obvious scrutiny of “where are the funds?” My question is where do you see the club (should you take over) in 5, 10 and 20 years? That’s both on the pitch and commercially. How will you make the club something the city can be proud of (which by the way I think a lot of us are but find it hard to show sometimes with the current state it’s in).
LeedsSUFC
First XI
When you say acquire the development of FF, is this just the stadium, or is is the housing development as well?
If it is the housing development, do any plans change with planning permission? What happens with Roots Hall?
How would the new ownership work in line with Stan/TL? Do they want involvement in the day to day, or are they here purely for financial reasons?
If it is the housing development, do any plans change with planning permission? What happens with Roots Hall?
How would the new ownership work in line with Stan/TL? Do they want involvement in the day to day, or are they here purely for financial reasons?
What would you role be if successful?
Shrimper Brownie
4th Generation Shrimper ⭐
Hi Carl, this all sounds very positive, but at the end of the day of the day if it is not your money, it is not your risk. It sounds like you're going to be a 'front-man' if you like, for the real investors.
It is great that you are a Blues fan, but the investors are not. Outside investors are looking for a profit, and not much else, and anything concerning pension funds is always a controversial topic - we all remember Robert Maxwell...
It is great that you are a Blues fan, but the investors are not. Outside investors are looking for a profit, and not much else, and anything concerning pension funds is always a controversial topic - we all remember Robert Maxwell...
Spaceman Spiff
Spiff sets his ray gun to ‘liquefy’ ⭐🦐
To be fair that was completely different. Maxwell defrauded the Mirror Group pension fund - they were not at fault. Also, pension funds own much of the corporate world, and the profits on those investments (the dividends that some commentators love to hate) pay the pensions of most of us.
Having said that, you’re quite right that a pension fund is unlikely to become a ‘fan’ of the club and keep throwing good money after bad when poor signings / team management throw the skids under the club finances.
The Original Tribal Chief
OTC ⭐⭐🦐
Medway Blue
Trust chairman/glutton for punishment ⭐🦐
Why are you addressing him as if he's not here? Direct your question at him, he's posted further up!
Because he's tried the private method and keeps getting ignored/fobbed off. It's as much to rat out Martin's propaganda as anything else. He's had numerous credible approaches over the years yet still has most fans on puppet strings with his propaganda that there is no credible alternative to him.
Holy Joe
Manager⭐⭐🦐
Perhaps we can allow only Carl to answer the questions - it'll get very confusing if other people are putting words in his mouth on here.
Holy Joe
Manager⭐⭐🦐
Originally posted Q's in another thread - cut and pasted them in here as realized this was the correct place - didn't bother rewording the questions
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