Fans' forum review part one

Last updated : 25 June 2009 By Jacob Daniel
It was an eventful night at Meadow Lane, as John Armstrong-Holmes sought to answer questions from supporters with regards to the proposed takeover by Munto Finance Ltd. Important questions were answered, although some information remains a mystery due to confidentiality agreements and the investors' wish for privacy, however it was a very interesting night for all Notts fans in attendance. There was also a special announcement, which is sure to please and excite all Magpies fans. NCM rounds up all the night's events below.

Introduction

Sitting at the top table:-
John Armstrong-Holmes (Chairman)
Roy Parker (Vice-Chairman)
Glenn Rolley (Trust Chairman)

The night started with John-Armstrong Holmes re-iterated the information that had already been made aware to supporters, and giving out background information about the takeover. He confirmed that the club have obtained proof of funds from Munto, and described the amount of money that was to be invested as "substantial", although confidentiality agreements meant he couldn't put a figure on the amount that is set to be pumped into the club. He also described the proposal as the "most historic opportunity in the club's history".

Armstrong-Holmes described the club as a "shambles" when he took over, and said that he was "ashamed" by the state the club had gotten itself into, and thanked both the fans and benefactors such as Haydn Green for their efforts in saving the club, he denounced mistakes such as the closer of the club's centre of excellence, and said that it was income from former youth products that had helped the club post a net loss of just £1,392 in June 2008.

He also admitted that the local consortium that had been rumoured to be interested in the club was used as a "smokescreen" to divert peoples' attention away from the Middle Eastern investment while discussions were ongoing. He said that the club's rich history and unique selling point of being the world's oldest football club had helped sell the club to Munto. It was made clear that the investors wish to remain confidential and private, but he confirmed that he and Roy Parker had flown out to the Middle East and met the family behind the bid, and described them as "honourable" and "genuine". He also hit out at the group "Care About Notts", describing their attempts to remove him as chairman as a "malicious and vile campaign" and that could have "scuppered" the investment.

He confirmed that when meeting the investors, he was impressed by their proposals and plans to invest "a lot" of money into the club. On May 31st the duo flew back from the Middle East with a "fantastic" deal sorted out. He said that Munto plan to invest in the club's infrastructure, facilities and staff as well as the playing side of things, but that they also understand that results on the pitch are important, he also denied reports in the local media that there were plans to build a hotel and casino on Meadow Lane. It was made clear that the group's intentions are to have the club in the Championship within four years, in time for it's 150th year, in the 2012/13 season. It was also confirmed that the club have a bank guarantee meaning that they are guaranteed a seven figure sum.

Armstrong-Holmes then moved on to talk about Haydn Green, who he called the club's "greatest benefactor". The issue of the lease on Meadow Lane was covered, with it being confirmed that the Haydn Green Estate hold the head lease on Meadow Lane, which is in place for 150 years, with the club sub-leasing it for the same time period. He confirmed that the group behind the investment were "honourable", and said that anything that is due to the Haydn Green Estate will be paid in full, he also said that he is due to meet with the Haydn Green Estate to discuss the plans tomorrow.

At this point, the floor was opened up for questions, which will be covered in Part Two of NCM's review.