posted 3 minutes ago
I think it is fairly well documented that Nigel had intended to not only honour the contracts he had already set up (hence the £23m) but also write-off the £76 million. whether or not he every translated this into a contract or a will or any other binding document is up in the air. If he did then, if the family decide to sell, the buyer gets a club with no debts other than the accumulating weekly deficit. If not, no one is going to buy it.
i also think it is possible the family might wash their hands of it all together and simply liquidate the business. this would be the ultimate disaster for the club: in effect, the end of NFFC.
the fact is though that in inspite of the shoddy treatment Nigel Doughty received at the hands of a handful of Forest fans, he still loved the club and we have to hope that his family will reflect this in the decisions they make as to the club's future. Whatever happens, it's certainly going to be the most precarious period in the club's history.Oh, one other worry: MArthur is in pretty well sole charge now. I hope Frank is strong enough to keep him in check.
Uncertain future
posted on 6/2/12
comment by VidalBaboon (U12787) posted 1 hour, 49 minutes ago
I'm going to have you removed from these boards diddly unless you provide us with factual documentation backing up your claims
You've got till the end of the day
_________________________________
You better take Mcwoanz, Time Vampire, Toronto Tree, TEG... In fact you better take the rest of the Forest contingent if you're banning people for providing information without facts.
FACT
posted on 6/2/12
Grff alot of things were said by those that run our club neither sang from the same hymn sheet.
today on bbc news said the loan was to be repaid by 2014 sky also say the same, make of it what you will but im more inclined to believe the latter.
posted on 6/2/12
Yak, all but the initial £11m that was used to buy the club was taken out in loans which obviously have a repayment date on them...2014.
ND clearly stated that he wouldn't want his money back, which means that the loans taken out would be paid back by himself and not NFFC money.
I'm not sure why you choose to believe either BBC or Sky over the man himself. Strange.
posted on 6/2/12
What ever he said will not be legally binding on his executor. He must have left a will, if there is a will I would expect that his affairs in the club will be included.
We will have to wait and see. Perhaps Mrs Doughty also has a passion for football who knows?
posted on 6/2/12
Worst case scenario, SOME of the £75m will be repaid by flogging whoever you can in the summer...the rest will be written off (there is nothing else to sell off/loan against)
The more pressing concern for NFFC should be the £250k deficit per week. How you cover this lord only knows, it's very unlkely to come from the Doughty Estate isn't it.
posted on 6/2/12
Nigel will have had his affairs in order,I very much doubt that he would leave his wife with the unnecessary stress and worry of sorting out his buisness affairs. I would not be suprised to see a close friend or maybe even his buisness partner take control of the club until they can find a suitable buyer.
posted on 6/2/12
Dearie me gruff How naive are you? Doughty's words mean diddly right now, pretty much like they did during most of his reign with his broken promises etc etc
And i'd strongly recommend you don't hang onto them as if its some kind of gospel truth or shining light in determining the future of the club.
If this is what you mean by "well documented" you may have a nasty shock in the coming months when all becomes clear
posted on 6/2/12
owd vidal
posted on 6/2/12
Yak
let's not plss around here, its a sad sad situation, but were up to our eyes in it. Make no mistake. If ND has cleared the loans legally binding then good on him, let's not forget its years of financial mismanagement that's got us in deep in the first place.
posted on 6/2/12
baboon, I'm not sure how repeating what ND stated back in October can be classed as naive.
We can all have a go at second guessing what ND's family will do with the club but until I see or hear differently there isn't much point in doubting ND's integrity. What's the alternative? Paranoia.
For the record, you'll find that it wasn't myself that referred to "well documented" information.