Views from the Sieve

From my understanding those in charge have completely buried their head in the sand and we will not have a club next season as it currently stands.

RIP Daggers

so what now? We will just see the season (already over as far as play off hopes are concerned) fizzle out. Way short of funds needed to continue at this level anyway and resigned to any hope of getting a new investor. A deeply saddening reality but as daggers we must always try to keep faith.

The silence from the club is deafening. I have heard that we will be unable to pay the wages in May and there's still June too. I guess there is no way to raise the kind of money required (I'm guessing around 70-80k per month) so we really are in desperate need of new owners. And who knows at this stage who they might be.

This is a "real world" situation. All the nostalgia and undying love for the club goes out the window. Has anyone even got a calculator?

11-1300 fans probably a quarter of which pay concession prices does not provide enough income to keep the club afloat. Staff managers players stewards police and the taxman all want paying and there's other costs too numerous to mention yet we still have calls for cheaper tickets. People have put their own money into try and help but get slated on here left right and centre. Who's going to want to buy the club with debts and no chance of ever making anyone a profit and a truly ungrateful section of its own fan base? Maybe those with all these great ideas say 2o people,should take out a£100k mortgage each , club together and piss it into the wind like they expect any potential investors to do.

That's the problem basically. I'm Just the messenger here. Any investor must be prepared to lose everything.

This^

What players are out of contract at the end of this season will there be enough to make any dent in wage bill?

Look i admit i am not very converse with such matters but something has struck me as pretty obviuous.

Tonight for arguement sake either me or another Dagger check our lotto numbers and discover we have won the jackpit.

I contact the Club and am told that i can buy the Club via buying the shares of thosr who currently own them.

After due diligence i discover that the books show that if those who currently own the shares do not put any further money into the Club it will be bust in a matter of months.

Why would i then pay for shares off of these People which wiill be utterly worthless the moment an administator/liquidator walked in
because they refused to put anymore money in.

When this happens all the administrator will be interested in is paying off the creditors and may even accept as little as a fraction of every piund owed. I.e the Portsmouth Scenario. By waiting they would also have fulll control

No new potential owner is going to pay anymore then he has to, i certainly wouldnt as after paying off current sharehiolders i would
Still need to fund a squad that is currently depleted..

Sorry if i have got anything wrong here but as i see it tbis Club will be available at a fraction of the price shortly if the current board allow it to go to the wall.

Thoughts Arnu

Those who want some return on shares normally bail out for as much as they can get. So if your shareholdings value is plummeting it dosent make sense to hold on to them if they may well soon be worthless. Get what you can and run.

I suppose the club goes into admin, then someone else with some cash comes along, does a deal for the ground and physical assets opens a new company and starts over without any of the debt . Enter stage left Glenn Tamplin

Aldershot went into administration in 2013 see below, as Arnu said if Dagenham are in danger of this any buyer would wait and taker over club cheaper then.

Administration and return to Conference
In the summer 2012, a major shareholder suffered a major stroke, debilitating him and creating a financial insecurity that would prove dangerous come the following year. In May 2013, Aldershot Town announced that they were in financial difficulties,[17] with players' wages going unpaid.[18] The Chief Executive, Andrew Mills, announced his resignation saying that there was no evidence that the major shareholder Kris Machala had the ability to fund the club.[19] Director Tony Knights admitted that the club has been "haemorrhaging money".[18] On 2 May 2013, just five days after their relegation from the Football League, Aldershot Town officially entered administration.[1] The club fell with debts of over £1 million.[20]

On 1 August 2013, Aldershot Town confirmed the takeover of the club by a consortium led by former chairman Shahid Azeem. In conjunction, the club announced the agreement of a lucrative deal with Chelsea to host a significant number of matches played by the Chelsea Academy and Reserves over the next two years.[21]

Looking around the internet for the rules on administration seems if a club goes into it before end of season 10 points deducted this year not next.

It was made quite clear at the fans forum that for us, administration wasnt an option, since we have no assets as such.

It would be straight liquidation.

What's to stop me coming along after liquidation and take over the rent of the ground , form a new club and starting up Arnu Daggers United ? I would have no debt and as long as I keep Dagenham in the clubs name I guess I'd have a fan base. I'd imagine they'd drop us down a few leagues.

dagger4eva wrote: ↑Sun Apr 08, 2018 8:36 am It was made quite clear at the fans forum that for us, administration wasnt an option, since we have no assets as such.

It would be straight liquidation.

Yep. We don’t own the ground so It would be liquidation. The grounds owned by the council who have a lot of need to build more houses so the hole club could disappear.

Hop along Glynn Hopkin wont sell many cars in Romford if he lets us go bust. We’re everyones favourite 2nd club. Could end up like Liverpool and the Sun.

I think you're over estimating the good people of Dagenham. The other thread on here established hardly any of us live in Dagenham and our attendances suggest the town of Dagenham couldn't give a shit about the club. It'd be sad to see the club dissapear but the reality is there are other local clubs that might nick our following and of course a handful would never watch football ever again in their anger but again the reality is life would go on. I reckon the future is looking bleak but it's not an impossible situation.

3 Points I agree with, we have no assets and the council would love to build house or flats on our ground, it is prime building land near the station.
There is no consortiums or anyone in the pipeline to invest, why would they want to? Fan base low, no ground, and never ending paying out.
Lets drop down a few leagues and start again. Maybe AFC Dagenham.