Do you think he will help us out financially when we are in the sh1t when we go down ?
If he doesn't and we don't get back up at the first attempt we are fooooked.

Needed more from him when he was here and he didn’t then, so can’t see why he would if we got relegated!

I think it's fair to say that the majority of fans backed SD over MG before the takeover.
You reap what you sow.
Personally I would be chuffed to bits if he came back as chairman

He’s put us in a bit of a predicament in that we have underinvested in the squad for years to ensure a profit was made. Millions in the bank isn’t the way forward in football. Good investment in all areas is far more important to grow the business.

Iloveyoubrady wrote: ↑

Sat Dec 04, 2021 9:46 pm

He’s put us in a bit of a predicament in that we have underinvested in the squad for years to ensure a profit was made. Millions in the bank isn’t the way forward in football. Good investment in all areas is far more important to grow the business.

If he hadn't put that capital away could ALK have bought the club?

I will always be grateful for the job he and the other former directors did during a brilliant era under their tenure.

The sh1t we are in now is solely down to neglecting the strengthening of the first team in multiple recent transfer windows.

fanzone wrote: ↑

Sat Dec 04, 2021 10:27 pm

The sh1t we are in now is solely down to neglecting the strengthening of the first team in multiple recent transfer windows.

I'll go along with that totally.


Initially had the club at heart, I have no doubt, but eventually we were right
royally shafted for personal gain I'm afraid.

CHEWBACCA wrote: ↑

Sat Dec 04, 2021 9:36 pm

Do you think he will help us out financially when we are in the sh1t when we go down ?

Haha.

No.

Got out while the going was good. Fair play to him.

boatshed bill wrote: ↑

Sat Dec 04, 2021 9:45 pm

I think it's fair to say that the majority of fans backed SD over MG before the takeover.
You reap what you sow.
Personally I would be chuffed to bits if he came back as chairman

Oh dear

Iloveyoubrady wrote: ↑

Sat Dec 04, 2021 9:46 pm

He’s put us in a bit of a predicament in that we have underinvested in the squad for years to ensure a profit was made. Millions in the bank isn’t the way forward in football. Good investment in all areas is far more important to grow the business.

Has he though?

Invested 180m in 5 seasons. How much more are we really expecting him to invest?

With a wage bill as high as we have where was the extra money going to come from

Newcastleclaret93 wrote: ↑

Sat Dec 04, 2021 10:45 pm

Has he though?

Invested 180m in 5 seasons. How much more are we really expecting him to invest?

With a wage bill as high as we have where was the extra money going to come from

Old argument but maybe some of the £80m in the bank that he paid himself as part of the transaction?

Agreed to the leveraged buyout and certainly is not out of pocket.

I preferred Barry Kilby to be honest, although the jury is still out on Flood

NewClaret wrote: ↑

Sat Dec 04, 2021 10:50 pm

Old argument but maybe some of the £80m in the bank that pace paid him as part of the transaction?

I fixed that sentence for you.

NewClaret wrote: ↑

Sat Dec 04, 2021 10:50 pm

Old argument but maybe some of the £80m in the bank that he paid himself as part of the transaction?

He didn't pay himself anything as part of the transaction.

GodIsADeeJay81 wrote: ↑

Sat Dec 04, 2021 10:55 pm

He didn't pay himself anything as part of the transaction.

One way or another, he allowed the clubs funds to be used to buy his shares.

Club goes back to him if we go down, doesn’t it?

Doubt he’s particularly keen but I’m sure he has some sort of plan for that eventuality.

Newcastleclaret93 wrote: ↑

Sat Dec 04, 2021 10:45 pm

Has he though?

Invested 180m in 5 seasons. How much more are we really expecting him to invest?

With a wage bill as high as we have where was the extra money going to come from

We made solid profits for years, I didn’t expect to just be signing dale stephens in the 2020 summer window, which was when we should have been rebuilding by signing a winger, a centre midfielder, a Nathan Collins. We could then have sold Tarks for good money last summer for good money, would have another wide option, another midfielder.

daveisaclaret wrote: ↑

Sat Dec 04, 2021 11:10 pm

Club goes back to him if we go down, doesn’t it?

Doubt he’s particularly keen but I’m sure he has some sort of plan for that eventuality.

I thought that was only if ALK couldn't make the payments owed to him?

If the above is true then, sadly, I suspect ALK will sell off our assets to keep hold of the club for a while, but might eventually have to concede defeat after a few years. At which point I'd be glad to have MG back I think.

daveisaclaret wrote: ↑

Sat Dec 04, 2021 11:10 pm

Club goes back to him if we go down, doesn’t it?

Doubt he’s particularly keen but I’m sure he has some sort of plan for that eventuality.

Nope.
He takes back control of the club if he isn't paid.
Relegation doesn't mean he doesn't get paid, because none of us know the terms of the deal.

Iloveyoubrady wrote: ↑

Sat Dec 04, 2021 11:12 pm

We made solid profits for years, I didn’t expect to just be signing dale stephens in the 2020 summer window, which was when we should have been rebuilding by signing a winger, a centre midfielder, a Nathan Collins. We could then have sold Tarks for good money last summer for good money, would have another wide option, another midfielder.

You mean the summer window when we were in the middle of lockdown and had no idea of the financial implications. We still do not know the extent at which we lost money that year. I suspect we will be considerably in the red from it.

NewClaret wrote: ↑

Sat Dec 04, 2021 11:01 pm

One way or another, he allowed the clubs funds to be used to buy his shares.

That's different to him paying himself though, also if he'd agreed to sell the club, Garlick isn't "allowing" anything, the new owners are doing what they want, he doesn't get a say

Newcastleclaret93 wrote: ↑

Sat Dec 04, 2021 10:55 pm

I fixed that sentence for you.

OK, in that case where did Pace get the money from ?

Let's not play with pedantry please.

Iloveyoubrady wrote: ↑

Sat Dec 04, 2021 11:12 pm

We made solid profits for years, I didn’t expect to just be signing dale stephens in the 2020 summer window, which was when we should have been rebuilding by signing a winger, a centre midfielder, a Nathan Collins. We could then have sold Tarks for good money last summer for good money, would have another wide option, another midfielder.

Drop in matchday revenue, TV income rebates, retail revenue etc all due to Covid.
We didn't even know if last season would go ahead at the time.

We can keep going over this for as long as some of you keep ignoring all the contributing factors for last year's summer trsnsfer window being poor/different to normal.

Funkydrummer wrote: ↑

Sat Dec 04, 2021 11:16 pm

OK, in that case where did Pace get the money from ?

Let's not play with pedantry please.

Pace took the money from the club and used it as part of the deal to pay of Garlick. He also put at least 60m quids worth of debt on club to purchase it. So in theory Pace has taken 140m out of the club but that never seems to get mentioned

Can’t imagine Mike Garlick would have anything to do with running Burnley FC ever again, regardless of the terms of his agreement with ALK.

Funkydrummer wrote: ↑

Sat Dec 04, 2021 11:16 pm

OK, in that case where did Pace get the money from ?

Let's not play with pedantry please.

If people are going to continue to make false/libellous statements about Garlick then we are right to point this out.

ALK have paid for the club, the how and why they've done it certain ways is yet to be fully revealed.

GodIsADeeJay81 wrote: ↑

Sat Dec 04, 2021 11:13 pm

Nope.
He takes back control of the club if he isn't paid.
Relegation doesn't mean he doesn't get paid, because none of us know the terms of the deal.

And it will be a very big surprise if the moment ALK/Pace start actually putting their own money on the table is the moment when the Premier League money disappears. Would be a bit naive to think the contract isn’t the way it is for a very good reason.

BurnleyFC wrote: ↑

Sat Dec 04, 2021 11:18 pm

Can’t imagine Mike Garlick would have anything to do with running Burnley FC ever again, regardless of the terms of his agreement with ALK.

Can’t blame him after his family were getting death threats

GodIsADeeJay81 wrote: ↑

Sat Dec 04, 2021 11:15 pm

That's different to him paying himself though, also if he'd agreed to sell the club, Garlick isn't "allowing" anything, the new owners are doing what they want, he doesn't get a say

From what we know, Garlick agreed to a deal structure that allowed the clubs funds to be given to him to buy his shares.

As the major shareholder before the takeover, the only person that could agree the deal structure was him.

NewClaret wrote: ↑

Sat Dec 04, 2021 11:28 pm

From what we know, Garlick agreed to a deal structure that allowed the clubs funds to be given to him to buy his shares.

As the major shareholder before the takeover, the only person that could agree the deal structure was him.

Are you not confusing payment structure with deal structure? That’s completely different. Why would Garlick have any say at all on where Pace is finding the funds from?

Newcastleclaret93 wrote: ↑

Sat Dec 04, 2021 10:45 pm

Has he though?

Invested 180m in 5 seasons. How much more are we really expecting him to invest?

With a wage bill as high as we have where was the extra money going to come from

He didn't invest it. It was the TV money.
All he did was invest the minimum amount of the TV money he thought he could get away with, stashed a load away, on the basis of "Need a new stand/rainy day" and then used it to wholly line his own pocket!

IanMcL wrote: ↑

Sat Dec 04, 2021 11:35 pm

He didn't invest it. It was the TV money.
All he did was invest the minimum amount of the TV money he thought he could get away with, stashed a load away, on the basis of "Need a new stand/rainy day" and then used it to wholly line his own pocket!

The club was ran within its means financially.
That meant we had money in the bank in the event of a rainy, relegation or, as it turned out, a global pandemic that severely affected the club's revenue.

The wage bill has increased annually and accounted for the majority of the club's out goings.
We've also got a nice shiny training ground, tier 1 academy, proper disabled supporters section and all the other things that have had to be done to the ground and infrastructure over the years.

The club was actually able to get rid of its overdraft facility at the bank because it wasn't used.

If we'd gone down, we weren't going to be the next Rovers etc because our wage bill to turnover was in very good shape.

Now despite all of that, Garlick is now labelled as a greedy sod purely intent on lining his own pocket during his tenure in charge....

GodIsADeeJay81 wrote: ↑

Sat Dec 04, 2021 11:51 pm

The club was ran within its means financially.
That meant we had money in the bank in the event of a rainy, relegation or, as it turned out, a global pandemic that severely affected the club's revenue.

The wage bill has increased annually and accounted for the majority of the club's out goings.
We've also got a nice shiny training ground, tier 1 academy, proper disabled supporters section and all the other things that have had to be done to the ground and infrastructure over the years.

The club was actually able to get rid of its overdraft facility at the bank because it wasn't used.

If we'd gone down, we weren't going to be the next Rovers etc because our wage bill to turnover was in very good shape.

Now despite all of that, Garlick is now labelled as a greedy sod purely intent on lining his own pocket during his tenure in charge....

I think the truth of the matter is slap bang in the middle of both sides of the argument, to be honest.

IanMcL wrote: ↑

Sat Dec 04, 2021 11:35 pm

He didn't invest it. It was the TV money.
All he did was invest the minimum amount of the TV money he thought he could get away with, stashed a load away, on the basis of "Need a new stand/rainy day" and then used it to wholly line his own pocket!

Spot on. One thing Garlick is is a very shrewd businessman and very shrewd businessman only think of one thing...themselves. They have the ability to lose any moral conscience on their business deals.
He has got out whilst seriously under investing the squad for several seasons. Hoarding the money which is then used by ALK to buy the club and he walks off with it.
That serious under investment then comes back to bite ALK with relegation and not him and if it goes wrong financially (which is a good possibility)he can walk back in looking like a saviour. It absolutely stinks. Despite all this some of our fans think the sun shines out of his backside. I genuinely despair sometimes.

It's been done to death.

1. Mike Garlick is a Burnley FC company director. He was part fo the board that sanctioned the sale to ALK, he was part of the board that agreed to pay BFC's money ALK and to guarantee ALK's loan, he still is part fo the board.

2. Mike Garlick knew exactly where his money was coming from before he signed the deal to sell his shares.

Every step of the deal for Burnley FC's money to go to ALK and thence to Mike Garlick was supported by Mike Garlick. Whether we all think that was a good thing or not, is a moot point. The point is that he knew what was going on and he was in favour of it. When he was majority shareholder and the club has umpty millions in the bank, he made a fully aware and conscious decision, in his fiduciary duty as company director that the best thing for Burnley FC was to pass a vast fortune to ALK and for ALK to pass it on to Mike Garlick. That is fact.

Iloveyoubrady wrote: ↑

Sat Dec 04, 2021 9:46 pm

He’s put us in a bit of a predicament in that we have underinvested in the squad for years to ensure a profit was made. Millions in the bank isn’t the way forward in football. Good investment in all areas is far more important to grow the business.

Nice correlation between him stopping strong squad investment at the same time as certain parts of the fan base began questioning why we weren’t spending hundreds of millions each window.

Those who question the strong cash reserves that we had forget that this was one of the main reasons we were took over/ worth being taken over.

Pennies beginning to drop more regularly, at last.

It's all ok though...didn't he buy a handful of fans a drink once or twice?

GodIsADeeJay81 wrote: ↑

Sat Dec 04, 2021 11:51 pm

The club was ran within its means financially.
That meant we had money in the bank in the event of a rainy, relegation or, as it turned out, a global pandemic that severely affected the club's revenue.

The wage bill has increased annually and accounted for the majority of the club's out goings.
We've also got a nice shiny training ground, tier 1 academy, proper disabled supporters section and all the other things that have had to be done to the ground and infrastructure over the years.

The club was actually able to get rid of its overdraft facility at the bank because it wasn't used.

If we'd gone down, we weren't going to be the next Rovers etc because our wage bill to turnover was in very good shape.

Now despite all of that, Garlick is now labelled as a greedy sod purely intent on lining his own pocket during his tenure in charge....

Your last sentence finally got it right.
All the money in the club account appears to have been included in the sale price, which all went to the directors, leaving them very, very rich and the club totally best and wholly dependent on Prem TV money, which is under threat.

Director who decided who, when, how much?
Majority shareholder.

CHEWBACCA wrote: ↑

Sat Dec 04, 2021 9:36 pm

Do you think he will help us out financially when we are in the sh1t when we go down ?
If he doesn't and we don't get back up at the first attempt we are fooooked.

LOL

What's in it for him?

THEWELLERNUT70 wrote: ↑

Sun Dec 05, 2021 12:56 am

LOL

What's in it for him?

He picks the club back up at a reduced price because we are no longer in the Prem and struggling financially (with ALK having defaulted due to lack of tv money)
So he is back to square one owning the club with a tidy sum/profit in his back pocket. Now does anyone really think any of the money he would re-invest into the squad? We would be back to penny pinching days and midtable mediocrity in the Championship. If we are lucky!

Or am i being a little too cynical?

Somethingfishy wrote: ↑

Sun Dec 05, 2021 1:32 am

He picks the club back up at a reduced price because we are no longer in the Prem and struggling financially (with ALK having defaulted due to lack of tv money)
So he is back to square one owning the club with a tidy sum/profit in his back pocket. Now does anyone really think any of the money he would re-invest into the squad? We would be back to penny pinching days and midtable mediocrity in the Championship. If we are lucky!

Or am i being a little too cynical?

But if they have "defaulted" he wouldn't be getting the money would he. So the "tidy sum/profit in his back pocket" wouldn't be as tidy would it.

Do we think Dyche would stick around if Garlic returned? I can't see it.

Fretters wrote: ↑

Sun Dec 05, 2021 8:09 am

Do we think Dyche would stick around if Garlic returned? I can't see it.

I don’t imagine that will be a problem for much longer.

As Pace said on his interview the other day. It’s his job to make sure the club is not relegated

Newcastleclaret93 wrote: ↑

Sun Dec 05, 2021 8:14 am

I don’t imagine that will be a problem for much longer.

As Pace said on his interview the other day. It’s his job to make sure the club is not relegated

Are you suggesting Dyche might be potted? I really can't see that.

Fretters wrote: ↑

Sun Dec 05, 2021 8:20 am

Are you suggesting Dyche might be potted? I really can't see that.

I think the board will be discussing it. If we are in no better of a position by January I think that will be the time

Newcastleclaret93 wrote: ↑

Sat Dec 04, 2021 11:19 pm

Can’t blame him after his family were getting death threats

What? Give us evidence this happened.

Newcastleclaret93 wrote: ↑

Sun Dec 05, 2021 8:26 am

I think the board will be discussing it. If we are in no better of a position by January I think that will be the time

Bloody hope not. There's no guarantee that a new manager would save us and we'd have lost the man who led us to 2nd and 1st in our last two Championship seasons.

Steve-Harpers-perm wrote: ↑

Sun Dec 05, 2021 8:39 am

What? Give us evidence this happened.

It was all over Twitter at the time. Nearly all of the posts have been deleted now. It’s why his family members have deleted there accounts