After his initial speech, John Armstrong-Holmes then opened up the floor for questions, which are covered in Part Two of our review of the night's events.
Q - What's in it for Munto?
A - The first question of the night was a simple one, and was answered by chairman John-Armstrong Holmes. He simply said that there was "very little" in it for Munto, particularly financially, and said that Keith Harris, chairman of investment bank Seymour Pierce had commented that he had "no idea" how Notts County had attracted such investment. JAH said that the club's unique history and being the world's oldest gave it a unique selling point which attracted the investors, and said that there was an opportunity to build from the start with a club with great potential and no significant debts. He said that the kudos that would be gained by taking a club such as Notts County to the top would be very attractive to the Middle Eastern investors, and outlined the seriousness of their plans by saying that they had plans to reach the Premiership, and had even calculated how much it would cost to build the Magpies into a Champion's League side.
Q - Will the other 40% of shares be gifted, as the Trust are proposing to?
A - JAH confirmed that John Mounteney had agreed to gift his shares to the club, as the long standing director had confirmed two weeks ago. He said that gifting the shares to Munto would mean the fans would be "demonstrating how much the investment is wanted". He also confirmed that what happened to the other three shareholders' shares was a matter between themselves and Munto.
Q - Can you give us a clue as to how much investment is involved?
A - JAH simply said "no", before going on to say that the initial investment is a "seven figure sum". At which point the man asking the question began shouting at Armstrong-Holmes, but he was quickly shouted down by the crowd.
Q - What is the source of the funds?
A - JAH said that he could not reveal the indentities of those behind the bid, stating that they wished to remain confidential and private. He said that he had spoken to a "Middle Eastern family", and when meeting them said they were honourable and that he would respect their privacy. He confirmed that Peter Trembling will be taking over as the club's chief executive and Peter Willett, who has contacts in the region, has become a director of the club. He confirmed that the serious investors in the consortium are not those heading the bid, and that once the deal is done Armstrong-Holmes plans to step down as chairman, stating that he believes he has done all he can for the club. He said that when/if the deal goes through, Munto will release a statement outlining their intentions for the club in greater detail.
Q - What kind of investment is available for next season's playing staff?
A - JAH confirmed that Ian McParland has been working for weeks on bringing players into the club, and negotiations are ongoing with a number of targets, and he hopes to have them in as soon as possible, before the squad fly to Austria for pre-season training on July 14th. He also said that he had received confirmation of the club's new training ground earlier today.
Q - Why are Munto seeking a 100% shareholding? Could the trust's shares be sold and the money put aside for the future?
A - Armstrong-Holmes said that he could understand why Munto want 100% control, due to the interference he has had to deal with from members of CAN, such as the man asking the question. He said that it was all fans who saved the club, not the trust, and said that the club needed to be run loke a football club again, rather than a "social experiment", and said he was sick of "ideologists who think they know best". He said that without change and investment the club has no future, and that this was a matter for all fans, not just those in the Trust.
Q - Can we become a richer club than Forest?
A - We already are, they're £40,000,000 in debt!
Q - Can you give assurances that the club's future at Meadow Lane is secure?
A - The Haydn Green estate has a least from Dec 2003, which runs for 150 years, with the club having a sub-lease for the same period, JAH said that the club were lucky due to the comparatively tiny amount of rent they pay for Meadow Lane. He said that Munto cannot sell Meadow Lane, and that the investment has nothing to do with any property deal.
Q - Will the loan from Haydn Green be paid back?
A - JAH said that no money exchanged hands, and Haydn Green "facilitated" the purchase of shares by the Supporters' Trust. He confirmed that Munto will honour any obligation to the Haydn Green Estate.
Q - Will we have a reserve team next season?
A - Next season the club hope to play regular reserve games involving the 14 scholars and members of the youth team, as well as fringe players and those returning from injury, but not in a league. It is expected that by the following season the club will re-enter into a reserve league.
Q - Will the rugby club continue to play at Meadow Lane
A - Nottingham RFC will play their games at Meadow Lane next season as an agreement is already in place, after that is it in the hands of Munto.
Q - Roy Parker's thoughts on the takeover?
A - Roy Parker said that the club do not have an overdraft, and that when Southampton went bankrupt they owed us £120,000, this was received when the club threatened to take legal action against the Football League. Parker praised the loyal, hard working people within the club, and said that the proposed investment is the biggest deal he has ever been involved with. He said that he had spent six years attempting to attract investment to the club and raise money, and that Haydn Green was a "miracle". He confirmed that Munto plan to invest on the buildings, infrastructure and facilities, and joked that the manager might even be able to buy a striker.
Q - What's in it for Munto?
A - The first question of the night was a simple one, and was answered by chairman John-Armstrong Holmes. He simply said that there was "very little" in it for Munto, particularly financially, and said that Keith Harris, chairman of investment bank Seymour Pierce had commented that he had "no idea" how Notts County had attracted such investment. JAH said that the club's unique history and being the world's oldest gave it a unique selling point which attracted the investors, and said that there was an opportunity to build from the start with a club with great potential and no significant debts. He said that the kudos that would be gained by taking a club such as Notts County to the top would be very attractive to the Middle Eastern investors, and outlined the seriousness of their plans by saying that they had plans to reach the Premiership, and had even calculated how much it would cost to build the Magpies into a Champion's League side.
Q - Will the other 40% of shares be gifted, as the Trust are proposing to?
A - JAH confirmed that John Mounteney had agreed to gift his shares to the club, as the long standing director had confirmed two weeks ago. He said that gifting the shares to Munto would mean the fans would be "demonstrating how much the investment is wanted". He also confirmed that what happened to the other three shareholders' shares was a matter between themselves and Munto.
Q - Can you give us a clue as to how much investment is involved?
A - JAH simply said "no", before going on to say that the initial investment is a "seven figure sum". At which point the man asking the question began shouting at Armstrong-Holmes, but he was quickly shouted down by the crowd.
Q - What is the source of the funds?
A - JAH said that he could not reveal the indentities of those behind the bid, stating that they wished to remain confidential and private. He said that he had spoken to a "Middle Eastern family", and when meeting them said they were honourable and that he would respect their privacy. He confirmed that Peter Trembling will be taking over as the club's chief executive and Peter Willett, who has contacts in the region, has become a director of the club. He confirmed that the serious investors in the consortium are not those heading the bid, and that once the deal is done Armstrong-Holmes plans to step down as chairman, stating that he believes he has done all he can for the club. He said that when/if the deal goes through, Munto will release a statement outlining their intentions for the club in greater detail.
Q - What kind of investment is available for next season's playing staff?
A - JAH confirmed that Ian McParland has been working for weeks on bringing players into the club, and negotiations are ongoing with a number of targets, and he hopes to have them in as soon as possible, before the squad fly to Austria for pre-season training on July 14th. He also said that he had received confirmation of the club's new training ground earlier today.
Q - Why are Munto seeking a 100% shareholding? Could the trust's shares be sold and the money put aside for the future?
A - Armstrong-Holmes said that he could understand why Munto want 100% control, due to the interference he has had to deal with from members of CAN, such as the man asking the question. He said that it was all fans who saved the club, not the trust, and said that the club needed to be run loke a football club again, rather than a "social experiment", and said he was sick of "ideologists who think they know best". He said that without change and investment the club has no future, and that this was a matter for all fans, not just those in the Trust.
Q - Can we become a richer club than Forest?
A - We already are, they're £40,000,000 in debt!
Q - Can you give assurances that the club's future at Meadow Lane is secure?
A - The Haydn Green estate has a least from Dec 2003, which runs for 150 years, with the club having a sub-lease for the same period, JAH said that the club were lucky due to the comparatively tiny amount of rent they pay for Meadow Lane. He said that Munto cannot sell Meadow Lane, and that the investment has nothing to do with any property deal.
Q - Will the loan from Haydn Green be paid back?
A - JAH said that no money exchanged hands, and Haydn Green "facilitated" the purchase of shares by the Supporters' Trust. He confirmed that Munto will honour any obligation to the Haydn Green Estate.
Q - Will we have a reserve team next season?
A - Next season the club hope to play regular reserve games involving the 14 scholars and members of the youth team, as well as fringe players and those returning from injury, but not in a league. It is expected that by the following season the club will re-enter into a reserve league.
Q - Will the rugby club continue to play at Meadow Lane
A - Nottingham RFC will play their games at Meadow Lane next season as an agreement is already in place, after that is it in the hands of Munto.
Q - Roy Parker's thoughts on the takeover?
A - Roy Parker said that the club do not have an overdraft, and that when Southampton went bankrupt they owed us £120,000, this was received when the club threatened to take legal action against the Football League. Parker praised the loyal, hard working people within the club, and said that the proposed investment is the biggest deal he has ever been involved with. He said that he had spent six years attempting to attract investment to the club and raise money, and that Haydn Green was a "miracle". He confirmed that Munto plan to invest on the buildings, infrastructure and facilities, and joked that the manager might even be able to buy a striker.
At this point, there was an interval in proceedings before more questions were asked, these will be covered in part three of NCM's fans' forum review.