Consortium

[Daggertilidie]

We write with reference to your letter to Presidents, Life Members and Full Members dated 17 June 2016. In that letter, you notified Members of a Proposal for a local businessman to invest into the club. We have no objection, in principle, to any proposal which safeguards the future of the club, but feel that Members should have a choice.



We have, therefore, assembled a consortium of individuals with a long association with the Club prepared to invest £200,000 subject to contract, into the share capital of a new company to be formed to acquire the assets and undertaking of the football club from Dagenham & Redbridge FC Limited. For the avoidance of doubt, this includes the assignment of the existing lease on the ground, or a new lease, to the new company. The payment for this would be satisfied by an issue of shares in the new company.

Following this and the investment of £200,000, we suggest that the investors would own 51 per cent of the new company and the current members, through the existing company would own 49 per cent.



The members of the consortium are David Ward, John East, Brian East, John Goodwin, Lee Goodwin. David Ward, John East and Brian East are well known to you as the Club’s Vice-Chairman for 20 years and Joint Presidents for 17 years respectively. The Goodwins are successful local businessmen. John is a full member of the Club and his son Lee played for the Club over many years in the Ryman League, The Conference and the Football League. If the Members accept our proposal, Lee will follow in the footsteps of our former and long standing chairman, Dave Andrews, in making the transition from the pitch to the boardroom.



We believe that this substantial injection of funds will allow the Club to trade through the 2016-17 season while we ascertain the future funding requirements and identify other like-minded investors, to create a long term solution.



The members of the consortium have a long history with the Club and are true supporters. The wellbeing of the Club is our only reason for offering to make this investment. We intend to help the Club to regain its former culture and unite the Club in a common goal. We request you to allow us to present our investment and vision for the Club at the informal meeting to be held on 6 or 7 July since, as stated above, we believe it is important that Members have a choice.

If the Members support our proposal, we will immediately place the Sums pledged into an escrow bank account as evidence of funds and goodwill. We would expect any other investor making a pledge to do likewise for the full amount of the pledge.



We trust that you will inform the Members of this proposal; we should add that we do not consider the contents of this letter to be confidential and reserve the right to publish it.



Yours faithfully,

[Daggertilidie]

Fans of Dagenham I urge you to consider this consortium .club at heart

[Diggerthedog]

Pitching like dragons den love it.

[Auntie Merge]

I always loved John and Brian East and Lee and John Goodwin.
I love them all a little bit more today.

[lupins]

Considering both parties wish to have control of the club I would think members ought to have a more open mind about the merits of both which are still to be made clear
Just a thought

[SUSSEX DAGGER]

250k a year don't sound an awful lot to me . Certainly not to sell your soul over.

Anybody know if this consortium would accept donations from fans to help them match this sum

[Alan]

Suggestion was that they had pledges from others, but no request for funds in the interview Gerry Hanning gave.

To me, if Mr Tamplin wants to put in 250k a year, put it in, but you get only 16% each time you pay, you don't get 80% up front with complete control of the club and hand back 16% for each missed annual payment.

Can I suggest that we all become members so we can weigh the options and vote. I emailed the club yesterday for information on joining and urge everyone to do likewise.

[ARNU]

Whats all the fuss about ?

We need money or Im sure we'll go to the wall in the next few years anyway.
Someone/Some group want to put money in.

Sounds like a plan at least.

I blame the EU LOL!

I know you are fishing, but you can't half be a dick head sometimes.

Well I'm not fishing but I forgive you for thinking so. I take it your best answer is verbal abuse which is out of character for you as you do normally take time to explain yourself. I expect better from you Mike as I didn't have you down as one of the quite clearly brainless dry lunches that normally have a pop. Can't see what the fuss is about. It's been shit for a good few years,the ground and facilities are tired the board have run out of ideas and we need new direction and leadership. This is a risky investment for anyone as the chances of turning a profit are at best none.

[rebeldagger]

Quite an interesting listen.

Lee Goodwin on BBC London radio.

https://audioboom.com/boos/4746785-icym ... s-fronting

[IanC]

Wow great interview gooders,at feckin last we can get some passion back in that boardroom.
Sounds like it's up to the members then,total no brainier has far as I'm concerned,if this don't go through then people should hang their heads in shame.Simple message then,vote for lee,s consortium get it done and let's move on,the other bloke can do one.Get our pride and our daggers back!

[Auntie Merge]

Daggers fans. Such a positive interview with Lee Goodwin. It gives you hope.
My prediction is Lee Goodwin (Brian & John East etc) consortium 6 Man with nine insolvent companies behind him 0.

[Mike the Dagger]

Whats all the fuss about ?

We need money or Im sure we'll go to the wall in the next few years anyway.
Someone/Some group want to put money in.

Sounds like a plan at least.

I blame the EU LOL!

I know you are fishing, but you can't half be a dick head sometimes.

Well I'm not fishing but I forgive you for thinking so. I take it your best answer is verbal abuse which is out of character for you as you do normally take time to explain yourself. I expect better from you Mike as I didn't have you down as one of the quite clearly brainless dry lunches that normally have a pop. Can't see what the fuss is about. It's been shit for a good few years,the ground and facilities are tired the board have run out of ideas and we need new direction and leadership. This is a risky investment for anyone as the chances of turning a profit are at best none.

Ok, so here is the long explanation of why you are being a dick head.

You may well be right that the club needs investment, but where that comes from if it comes is really important. If you don't believe that then look at what has become of the various basket case clubs that have gone down this route before us where a rich individual has come in bought a club and within a number of years has run it into the ground to the point it either dies or has to start over as an AFC. It's a pretty long list, with several examples right on our own doorstep.

This guy appears to all intents a classic loadsamoney with cash to flash. He wants 80% of the club for £1.25m over five years which is actually not going to change much, and one of his key demands is that his kids U14 team plays at the ground on a Sunday morning. He has a string of liquidated companies in his wake left to go bust owing fortunes, while he managed to find £7m for his wedding reportedly.

It is neither a serious investment nor is it a project that is really close to his heart. Somewhere down the line he will be looking to sell it or pull out and we won't be a Members Club any more, we will be the next guy''s plaything, or scrapping round having bucket collections to try to get our club back.

Meanwhile you are saying "Whats all the fuss about?"

Get it?

[Auntie Merge]

I always loved John and Brian East and Lee and John Goodwin.
I love them all a little bit more today.

I forgot about Dave Ward.
From the interview with Dave Andrews on the original Daggers Fans Website http://www.daggersfc.freeuk.com/faninfo ... /forum.htm

Q Is it true the club have received some money back from the Trevor Dicks case ?

DA Mr Dicks was found guilty in 1996 of fraud, forgery and false accounting from the trustee accounts and received three years imprisonment on each charge to run concurrently. Our Vice Chairman, David Ward, put up the money to pay a Barrister to try to obtain the property of Mr Dicks knowing that if we didn't obtain it, he would lose his money. After nearly two years we have finally received his house as a final settlement. Following the sale of the property, we have repaid the outstanding mortgage and costs and have been able to bank a sum of money. This Club owes Mr Ward a big thank you for time and effort he has spent in getting this money returned to the club.

This always makes me love Dave Ward. To have a man like him with the men named above, I feel the club will be in very safe hands. These are the people we need holding 51% of the shares. #VOTEGOODWIN

[ARNU]

To MIKE

Im not sure why asking what the fuss was about makes me a dickhead.Your explanation was good enough without the abuse.Having read your answer id say yes,due diligence should be exhausted before signing any deal with anyone.That id have thought was basic common sense anyway.

[Mike the Dagger]

To MIKE

Im not sure why asking what the fuss was about makes me a dickhead.Your explanation was good enough without the abuse.Having read your answer id say yes,due diligence should be exhausted before signing any deal with anyone.That id have thought was basic common sense anyway.

It comes down to my first assumption, that you were fishing, when this clearly is a very important issue. If that was wrong, apologies for calling you a dickhead.

It seems you were just ill informed when on previous experience I had assumed you knew everything about everything ;)

Due diliigence in this case seems to have identified that he is good for the money. It has not identified his reasons for wanting to invest, or his future plans for the club once he takes a controlling interest, apparently for the grand sum of £20k ish a month for 60 months, or if it has, that is yet to be shared with the fans and full members. These are pretty key don't you think?