position of darlo uncovered

princes town · Post by **princes town** » Thu May 03, 2012 2:22 pm

"It is understood Darlington Uncovered fans forum has said the money it raised would be reinvested.
Darlington FC Supporters Club has also pledged to reinvest its cash" echo

Is this defo true? Sorry if it has been covered elsewhere? Regardless, I would support this and would hope the trust do too.

super_les_mcjannet · Post by **super_les_mcjannet** » Thu May 03, 2012 2:26 pm

princes town wrote:"It is understood Darlington Uncovered fans forum has said the money it raised would be reinvested.
Darlington FC Supporters Club has also pledged to reinvest its cash" echo

Is this defo true? Sorry if it has been covered elsewhere? Regardless, I would support this and would hope the trust do too.

Who? Sorry you said the Trust - forgot they existed. Meeting on Monday 14th May don't forget all.

princes town · Post by **princes town** » Thu May 03, 2012 2:30 pm

super_les_mcjannet wrote:
princes town wrote:"It is understood Darlington Uncovered fans forum has said the money it raised would be reinvested.
Darlington FC Supporters Club has also pledged to reinvest its cash" echo

Is this defo true? Sorry if it has been covered elsewhere? Regardless, I would support this and would hope the trust do too.
Who? Sorry you said the Trust - forgot they existed. Meeting on Monday 14th May don't forget all.

Absolutely right - monday 14th.

Post by **uncovered** » Thu May 03, 2012 2:47 pm

apologies for not making this public but it has been a hectic few days for me, away from darlo.

I spoke at length with Craig Mckenna yesterday afternoon and we discussed the situation we are in. Craig explained that the money invested into Crowdcube would be returned to investors and a new pitch raised, all the things that were mentioned on BBC Tees last night.

But for 1883 to go forward at all and try and save Darlington Football Club under its current form it will need some capital. They will not be using the money invested through crowdcube as it isn't morally right and that is going to be returned, and they could not take it for granted that people will re-invest. With DUFF raising a significant amount 1883 wanted to know if we would reinvest our shares into the new model.

I felt that we have really no option but to re-invest for the following reasons.

1: The purpose of DUFF was to try and save Darlington Football Club, that possibility is still there, albeit it not a favourably option to many, including myself. But the opportunity could still be there.

2: If the money was returned to myself I would really have no way of returning the funds to everybody who chipped in. It would be impossible, so best we plod on.

3: In these fast moving situations we do not really have time to vote on these options, by the time we voted the club could have folded, so I made the decision there and then. Discussion have taken place previously regarding DUFF and I think people were aware of the situation and gave their backing to whatever decision I made, and I thank everybody for that.

To finalise, the decision to re-invest the DUFF fund was taken because that money was raised to save Darlington Football Club, and that is what 1883 are trying to still do.

cheers

Spyman · Post by **Spyman** » Thu May 03, 2012 2:50 pm

Scott, can you confirm how much of the £20k raised by the DUFF was used for share purchases? I know a fair bit was given to players and put towards keeping the club afloat originally, so it would be good to know how much of a dent the remainder makes on the £100k target.

charlie · Post by **charlie** » Thu May 03, 2012 2:51 pm

Spot on Scott

jazzydfc · Post by **jazzydfc** » Thu May 03, 2012 2:51 pm

Scott -

Spyman · Post by **Spyman** » Thu May 03, 2012 2:54 pm

p.s. anyone who disagrees with Scott's decision to back this with money donated is, in the words of the strangely absent Darlo Cockney, not a true supporter.

Post by **uncovered** » Thu May 03, 2012 2:56 pm

Spyman wrote:Scott, can you confirm how much of the £20k raised by the DUFF was used for share purchases? I know a fair bit was given to players and put towards keeping the club afloat originally, so it would be good to know how much of a dent the remainder makes on the £100k target.

i don't know the exact amount, I will have a look at my spreadsheet once get home. It isn't a massive amount as you quite rightly stated we gave around £13k to the players. it may be £7k or £8k.

charlie · Post by **charlie** » Thu May 03, 2012 2:57 pm

Its a start Scott

Spyman · Post by **Spyman** » Thu May 03, 2012 3:00 pm

uncovered wrote:
Spyman wrote:Scott, can you confirm how much of the £20k raised by the DUFF was used for share purchases? I know a fair bit was given to players and put towards keeping the club afloat originally, so it would be good to know how much of a dent the remainder makes on the £100k target.
i don't know the exact amount, I will have a look at my spreadsheet once get home. It isn't a massive amount as you quite rightly stated we gave around £13k to the players. it may be £7k or £8k.

That's still a pretty decent chunk of the amount needed.

Fibonacci0112358 · Post by **Fibonacci0112358** » Thu May 03, 2012 3:05 pm

Supporters club are also said to be re-investing, and maybe The Echo.

darlotoon · Post by **darlotoon** » Thu May 03, 2012 3:05 pm

attend the Trust meeting this is vitally important !!

quakersam · Post by **quakersam** » Thu May 03, 2012 3:06 pm

Well done Scott. Quick decision needed to be made and I'm sure everybody will back you all the way

princes town · Post by **princes town** » Thu May 03, 2012 3:10 pm

just to confirm I only raised this lazy thread because it was stated in the Echo and i hadn't heard about this. I am grateful for this clarification by scott.

Post by **uncovered** » Thu May 03, 2012 5:54 pm

just checked, total re-invested is £8000 including the Uncovered FC shares.

total overall raised by DUFF, including money given to the club to keep it going, paying of 1883 solicitors fees etc comes to £22,600

princes town · Post by **princes town** » Thu May 03, 2012 5:56 pm

Good start

Markodarlo · Post by **Markodarlo** » Thu May 03, 2012 7:17 pm

Scott you have totally made the wrong decision here. Just because the funds were raised to "Save Darlington Fc" didn't mean that was what you were actually supposed to do with it.

For example.......... Look at the Trust!

You should have sat on it and waited to try and gain full control of the club one day.

God sake have you never heard of a ring fence!

wellindarlo · Post by **wellindarlo** » Thu May 03, 2012 7:22 pm

Markodarlo wrote:Scott you have totally made the wrong decision here. Just because the funds were raised to "Save Darlington Fc" didn't mean that was what you were actually supposed to do with it.

For example.......... Look at the Trust!

You should have sat on it and waited to try and gain full control of the club one day.

God sake have you never heard of a ring fence!

Thats it, I'm resigning from this board and not logging in again.

Edit: well done Scott

leedscol · Post by **leedscol** » Thu May 03, 2012 7:37 pm

My full support Scott

Darlo Uncovered