BUYDARLO

[uncovered]

BUYDARLO share initiative which will give Darlington Football Club back to the community where she belongs.

http://www.darlofc.co.uk/news.php?NewsID=817

[TinShedDarloFan]

Does this £70,000 include any of the money that the trust holds

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[Quakerz]

I wouldn't have thought so.

Ideally they need to come on board with their money.

[BUSHEAD]

If it doesn't I'd be suprised, because where has £70k come from ?
The trusts 40k must form some of that.

[Quakerz]

The DFCRG have had some good donations according to their tweets of the last couple of weeks, the SC had raised another 10 grand or so, MUFTI Day raised 10 grand, DUFF put another 4 grand in, and so on.

[Robbie Painter]

Its also come from private individuals & businesses.

The Trust money isn't part of it.

[wembley 2011]

The Trust's money is NOT included. The £70k has been raised through bucket collections, auctions, DUFF, individual donations, the Save Darlo fundraising , etc. If the Trust were to get on board the coffers should be well over £100k. And let's not forget £50k was handed over in mid January.

[Rocky Dennis]

Just about to say if the trust put in their remaining 40k we have 110k, 140k left to potentially get us out of admin. This could be achieved fairly quickly with some concentrated fundraising.

[BUSHEAD]

"some good donations" - some bloody brilliant donations if they've put in thousands.

Dare I ask then, Hodgie1 or superlidds - why haven't the trust spent the money on shares, or has no one asked them yet ?

[Quakerz]

The Trust seemingly had an alternative proposal with a view to bidding for the club, but obviously DFC1883 has been deemed the best way forward at this time.

It is now up to the Trust to decide if they want "in" - their money was raised for the continuance of Darlo, we are now BUYING it.

Should the fundraising fail they will get their money back and therefore there is no risk to that money. It truly is a no brainer.

The Trust will no doubt want something for that money, at the very least an elected Trust member to be placed as a trustee of DFC 1883. I have no problem with that. We now need to band together, the total required is a HUGE ask.

[TinShedDarloFan]

Add to the fact the trust keep going on about community club being something there interested in, they get on board and £110,000 is certainly a promising start

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[Robbie Painter]

The Trust have more like 50k than 40k I believe.

As Quakerz says - its a no brainer for them to be involved.

[TinShedDarloFan]

The £40,000 comes from the trust putting £10,000 in last month when we went bust

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[BUSHEAD]

Didn't they put in 10k on D-Day though Robbie. Im assuming that leaves 40k

Tsdf just beat me to it

[uncovered]

the trust have been invited all along to join this scheme but to be fair to them they did prefer the SD led route. Every respect for all the people involved in the trust, they give up their own time to help the organisation run, so no criticism from me.

but as has been already mentioned, it's a no brainer from my point of view. We can get £100k worth of shares for £50k and if the target isn't reached we get our money back. 1883 has exclusivity on purchasing the club so there is no reason to try and get the club another way. Hopefully we will hear some news over the next few days and all of this trust business can be put to bed forever and we as a united club can push forward all together.

[A kick in the Jacobs]

I have to say that the policies and processes proposed are absolutely bang on.

A very big well done to all those involved in producing this.

Now, the real hard part . . .

[Jamm]

Hopefully, having just rejoined the Trust, they will get on board with this and buy up loads of shares. But weren't they helping to fund the youth team with the interest on the £50,000 from years ago? In which case that source of funding will be needed more than ever as we lose the Football League youth team funding after this season. So in my opinion they (or "we" now I'm a member!) should buy £20-30,000 worth of shares and keep money back for the youth team.

[Robbie Painter]

The £40,000 comes from the trust putting £10,000 in last month when we went bust

Sent from my GT-I9100

Yep, I know that but I'm led to believe they now have funds around 50k after handing over the 10k last month.

Don't forget they will have had new monies coming in over the last couple of months through annual & life memberships plus donations direct to the Trust.

[super_les_mcjannet]

Yep they have had my £5 in the last couple of weeks and many others have joined so that should of topped it back up

[lo36789]

wonder who the ex player or manager could be...

[collett_for_england]

I knowing that they're there to make sure nothing goes crazy with the running of the club but what power does the board of trustees have? Can they veto decisions by the board and stuff?

[Quakerz]

Oooh, Kevan Smith?

[mobi]

Slightly confused. So if the Trust put in 50K and we reach 250K this will be used to buy the club out of administration? If we then fail to raise the 500K needed to run the club and go bust, how do the trust get their 50K back?

[Quakerz]

The 250k to bring us out of administration would not be used until we have a significant proportion of the other funds.

Also if the necessary 250k is raised to take us out of admin and we go pop, then it was still "job done" as far as the money goes - it was used to buy the club.

If we fail to even get out of administration the money will never be spent so therefore returned.

[Darlofan97]

So I'm guessing that the £70,000 will be used to buy a 7% share into Darlington 1883 Ltd under the name Darlo Uncovered?

[Hilly]

So I'm guessing that the £70,000 will be used to buy a 7% share into Darlington 1883 Ltd under the name Darlo Uncovered?

The 70k is not just Darlo Uncovered's.

The 70k is made up of various groups e.g. Dafts, Darlo Tykes, Darlo Uncovered, Supporters Club etc...

[Darlofan97]

So I'm guessing that the £70,000 will be used to buy a 7% share into Darlington 1883 Ltd under the name Darlo Uncovered?

The 70k is not just Darlo Uncovered's.

The 70k is made up of various groups e.g. Dafts, Darlo Tykes, Darlo Uncovered, Supporters Club etc...

Any clue on what name it would be under?

[mikkyx]

I would guess each part of the £70k will be under whichever group contributed it. So there's a £4k(?) share as Darlo Uncovered, £Xk for the Tykes, £Xk for DAFTS etc., £500 as Harvey Madden's company up to the starting total of £70k

[Darlofan97]

I would guess each part of the £70k will be under whichever group contributed it. So there's a £4k(?) share as Darlo Uncovered, £Xk for the Tykes, £Xk for DAFTS etc., £500 as Harvey Madden's company up to the starting total of £70k

OK, thanks Mikky.

[mobi]

The 250k to bring us out of administration would not be used until we have a significant proportion of the other funds.

Also if the necessary 250k is raised to take us out of admin and we go pop, then it was still "job done" as far as the money goes - it was used to buy the club.

If we fail to even get out of administration the money will never be spent so therefore returned.

OK, so coming out of administration means raising far more than 250K?