Darlo Uncovered

Posted: **Wed Feb 26, 2020 9:20 am**

David Johnston has purchased a minority stake in the club.

https://darlingtonfc.co.uk/news/officia ... lington-fc

Posted: **Wed Feb 26, 2020 9:27 am**

Good news for the club as it means he is committed to the future of the club. Personally I would be happy to see him bring some more investors on board as well to strengthen the financial position.

Posted: **Wed Feb 26, 2020 9:50 am**

That’s great news sounds like he’s here for the long haul.

Posted: **Wed Feb 26, 2020 9:56 am**

Great news and all shareholders hopefully on Friday can view the direction we are heading BM or sporting village.

Posted: **Wed Feb 26, 2020 10:05 am**

More than happy to see DJ committing for the long haul, he is a great asset to the club. Not too worried about dilution of SG ownership so long as the SG retains control of the club.

But certainly raises additional questions with regards to our finances, this is a conversion of existing debt into shares not an injection of fresh capital. What has this money been used for? It's not a bad thing but just needs to be explained in the context of our financial performance, what period does this relate to? Why it was needed? and what it has been spent on?

Posted: **Wed Feb 26, 2020 10:08 am**

This is terrific news, DJ is as important to the future of the club as AA. Hopefully this will lead to further investment from other investors.

Posted: **Wed Feb 26, 2020 10:45 am**

JE93 wrote: ↑
Wed Feb 26, 2020 10:05 am
More than happy to see DJ committing for the long haul, he is a great asset to the club. Not too worried about dilution of SG ownership so long as the SG retains control of the club.

But certainly raises additional questions with regards to our finances, this is a conversion of existing debt into shares not an injection of fresh capital. What has this money been used for? It's not a bad thing but just needs to be explained in the context of our financial performance, what period does this relate to? Why it was needed? and what it has been spent on?

The AGM will only cover accounts to end of June 19 but with the cup run money hopefully finances are showing a marked improvement than last few years, so hoping for an interesting and positive AGM.

Posted: **Wed Feb 26, 2020 10:54 am**

eddie-rowles wrote:Great news and all shareholders hopefully on Friday can view the direction we are heading BM or sporting village.

There won’t be any announcements or confirmation of the direction of travel on Friday. Discussions are at a delicate stage but continual progress is being made.

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Posted: **Wed Feb 26, 2020 11:04 am**

Good news - it wipes off 50k from the debt sheet (although I do hope it was longer term debt rather than more recent loans), but more importantly it hopefully secures DJ's involvement for a good while yet.

Posted: **Wed Feb 26, 2020 12:10 pm**

Good news. Whatever debt his investment is wiping out, it means we move forward with a cleaner slate than we otherwise would have and in Johnston we seem to have a very shrewd operator at the helm.

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Posted: **Wed Feb 26, 2020 12:40 pm**

Great news. Regarding David, does anyone in the know know if he's done his 'shadowing' of the commercial side at Walsall yet?

Posted: **Wed Feb 26, 2020 1:05 pm**

The Golden Hairclip wrote: ↑
Wed Feb 26, 2020 10:54 am

eddie-rowles wrote:Great news and all shareholders hopefully on Friday can view the direction we are heading BM or sporting village.
There won’t be any announcements or confirmation of the direction of travel on Friday. Discussions are at a delicate stage but continual progress is being made.

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been at a delicate stage for best part of a year doesn't have to be minuted just an update to shareholders

Posted: **Wed Feb 26, 2020 1:11 pm**

eddie-rowles wrote:
The Golden Hairclip wrote: ↑
Wed Feb 26, 2020 10:54 am

eddie-rowles wrote:Great news and all shareholders hopefully on Friday can view the direction we are heading BM or sporting village.
There won’t be any announcements or confirmation of the direction of travel on Friday. Discussions are at a delicate stage but continual progress is being made.

Sent from my iPhone using Tapatalk
been at a delicate stage for best part of a year doesn't have to be minuted just an update to shareholders

An update will be provided but it won’t contain new information. It’s important to align expectations. The Club acknowledges that the situation has been “delicate” for a while but I do expect matters to accelerate over the next few months, sadly not before Friday.

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Posted: **Wed Feb 26, 2020 2:32 pm**

The Golden Hairclip wrote: ↑
Wed Feb 26, 2020 1:11 pm

eddie-rowles wrote:
The Golden Hairclip wrote: ↑
Wed Feb 26, 2020 10:54 am

eddie-rowles wrote:Great news and all shareholders hopefully on Friday can view the direction we are heading BM or sporting village.
There won’t be any announcements or confirmation of the direction of travel on Friday. Discussions are at a delicate stage but continual progress is being made.

Sent from my iPhone using Tapatalk
been at a delicate stage for best part of a year doesn't have to be minuted just an update to shareholders
An update will be provided but it won’t contain new information. It’s important to align expectations. The Club acknowledges that the situation has been “delicate” for a while but I do expect matters to accelerate over the next few months, sadly not before Friday.

Sent from my iPhone using Tapatalk

thankyou for the update much appreciated

Posted: **Wed Feb 26, 2020 3:17 pm**

Just a bit concerned that DJ has loaned £50k to the club at some time in the past. Has this been spent and on what? How many others have made loans and are any still outstanding?
I appreciate he has turned his two loans into shares but is thus announcement something to be concerned about long-time? Genuine question

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Posted: **Wed Feb 26, 2020 3:18 pm**

QuakerPete wrote: ↑
Wed Feb 26, 2020 3:17 pm
Just a bit concerned that DJ has loaned £50k to the club at some time in the past. Has this been spent and on what? How many others have made loans and are any still outstanding?
I appreciate he has turned his two loans into shares but is thus announcement something to be concerned about long-time? Genuine question

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Would expect AGM to answer

Posted: **Wed Feb 26, 2020 6:03 pm**

QuakerPete wrote: ↑
Wed Feb 26, 2020 3:17 pm
Just a bit concerned that DJ has loaned £50k to the club at some time in the past. Has this been spent and on what? How many others have made loans and are any still outstanding?
I appreciate he has turned his two loans into shares but is thus announcement something to be concerned about long-time? Genuine question

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Whilst aware that DJ had loaned the club cash along with others, I believe we had worked at paying a large amount of tihs off.

Personally can't say I am happy or unhappy at DJ buying shares in the club, I guess it's a good thing if it removed debt but I did think we were trying to move away from this.

Hopefully it's because DJ wanted to rather than felt the club desperately needed it, for me I don't want volunteer/small payment board members to feel they need to invest in the club due to any issues - it should "wash its own face" so to speak.

Posted: **Wed Feb 26, 2020 6:19 pm**

Yes, moving forward we've got to try to move into a situation where we aren't looking at significant operating losses on the year like we did last year and the year before. I'm sure this is being addressed and hopefully the unwinding of the 500 club will help our finances to some extent.

Posted: **Wed Feb 26, 2020 6:22 pm**

Les, it's probably because he wants to. Back in early 18 at a Netcafé he said he wanted to invest in the club at a later date and that was 2 years ago.

Posted: **Wed Feb 26, 2020 6:26 pm**

Vodka_Vic wrote: ↑
Wed Feb 26, 2020 6:22 pm
Les, it's probably because he wants to. Back in early 18 at a Netcafé he said he wanted to invest in the club at a later date and that was 2 years ago.

Whilst I am really happy if he wants to throw his hard earned cash into a black hole/lovely local football club like the rest of us fools then fair enough.

However I hope he hasn't felt any pressure to do this. I would rather raise the cash if required than think a director felt the pressure to throw his own money in, and eventually feel that he doesn't want to be part of the club anymore due to any personal financial pressure.

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