MrMushroom

But could they afford to buy the shares? It would mean stumping up a heck of a lot of cash. The MYFC Society can only give their assets to another charitable institution, so they would have to sell the shares. I could then be the case that, if the MYFC Society decides to dissolve itself, that cash is then transferred to the Fleet Trust making it extremely well off. Cash strapped club and rich supporters trust - interesting scenario!

Hey, not all of us in the Main Road stand are old moaning bast

Originally Posted By: Bitch It's probably been explained a million times before but, what does MYFC actually 'own' Are they able to just pull out of this experiment? If so, or even if not - what happens to funds they do have left if the experiment is deemed unworkable? Do they go to the Ebbsfleet Utd Trust? I'm not a member of MYFC, but having read their legal documents as published on their site it is clear that: MYFC has 2 main parts. The MYFC Operator is a limited company and owns and runs the website on behalf of the MYFC Society. The MYFC Society is an Industrial and Provident Society (IPS) governed by its rules of association. It owns 70 - 75% of the shares of EUFC. MYFC members are members of the IPS. An IPS is non-profit making. According to its Rules, if the IPS is dissolved all assets remaining at the time of dissolution must be transferred to another non-profit making organisation with similar aims. The Fleet Trust would be one such option. Assets would include any money left over and also the shares. Alternatively, the shares could be sold and the money transferred. The members cannot get anything, nor can the Operator. The members get to vote on where the assets go. As for pulling out of the experiment, there are two organisations to consider. The Operator can pull out if the membership drops below 15,000 - and it is now below 15,000. If the Operator pulls out that would leave the MYFC IPS with the members and the shares. They would then have to decide whether to carry on (and how to do that!) or whether to also pull out by either selling the shares and starting up again elsewhere, or by dissolving the IPS.

Originally Posted By: loosely How long was that supposed

Unlikely, that would make him responsible for all the debts. MYFC IPS rules say their shares have to go to another non-profit organisation with similar aims. So if he wants to gain control it would be more likely he would set up another IPS which he controls and transfer the shares to that.

Originally Posted By: Claudius One has to wonder just what kind of cutbacks that will make up for the imminent cash shortage. It will be interesting to see what actions the club plans. What kind of cutbacks? - the cutbacks that would have been put in place one year ago if MYFC had not turned up. MYFC are not the problem here. There was never sufficient local support to fund a full-time team. That is the problem. If MYFC had been run professionally it could have bridged the funding gap. It wasn't and so it won't. But that does not mean that EUFC or MYFC are dead in the water, just that they will change and adapt to their new circumstances.

George is very committed and a hard worker. He came up through our PASE setup and has had quite a few first team games. He is pretty good but just not quite up to conference national standard yet. On a good day he gets there, though.

Hi South Banker.

Originally Posted By: Claudius One thing IS for sure in all beats of life.You need to blame anyone..you have to start at the top with the people in power. Anything else,anything less will always miss the target. Claudius, I am astounded and very, very worried. For once, I actually find myself agreeing with you.

Originally Posted By: billy nick If the operator dosn't get 15,000 renewals (which looks likely) he can terminate his contract and just walk away. No refunds will be given and everyone will lose their money, anyone want to argue that plain fact away? That is not quite the full picture. Yes, the operator can walk away. But the MYFC IPS will still own the shares in the club, independently of the operator. At that point it is up to the MYFC members who have re-joined to decide the way forward for the Society and the club. They will still be the majority shareholder. That will be the real test of the mettle and ingenuity of the members and the real test of their commitment to the club.

On the FA website they say they have deliberately selected an all new team.

Originally Posted By: britman I've been reading this thread for a long time now. At one point, I was interested in becoming a MyFC member. Thinking it would be pretty cool. But all I read on here was how the "so called" original Ebbsfleet fans, slagging off about the MyFC fans, and now this have gone onto censorship on the Official Forum. There is a lot of confusion for the average fan on here about Ebbsfleet, and I for one, will not part with $70 a year for this. As one of the "so called" original Ebbsfleet fans I would say that I have no objection to MYFC members posting on here - many long-standing Ebbsfleet fans are also members of MYFC. The objections some of us had was to disgruntled MYFC members writing their complaints against MYFC on this forum. We wanted to discuss Ebbsfleet, not the shortcomings of MYFC. There are a number of MYFC members who believe they did not get what they were promised from MYFC (and with good cause). However, if you have read a selection of threads on here you should by now have an understanding on what MYFC does and does not offer and can join with your eyes open. So if you do go ahead and join, you will at least know what you are getting for your money. Personally, I am not a member of MYFC, but then I live near enough to Northfleet to get to games when work permits. As you live in the US you may well find the services that MYFC offers, such as the videos of the games, to be useful. If all you want to do is support the team, watch the games and discuss the games with other fans, then by all means join MYFC - it will enable you to do that. You can also take part in some of the promotions MYFC put on. But do not expect to 'own the club and pick the team' - to go in on that basis will leave you disappointed. On the other hand, you could always listen to the matches on the Radio Kent internet feed (but often not the cup matches) and discuss them with the other fans on the official forum. For an overseas fan this is probably not as satisfying as being a part of MYFC. Chas does an excellent job with his commentary, but seeing the game adds that extra dimension.

Originally Posted By: chancer what job is safe during this credit crunch High court judges - whoever heard of one of them being made redundant.