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Dean

Gott in Himmel!

Posts: 3,037 Member Since: 09/09/2007

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Mar 20 09 8:46 AM

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Have been bought by a property developer.


http://www.chesterchronicle.co.uk/chester-city-fc/chester-city-fc-news/2009/03/19/chester-city-fc-stephen-vaughan-finds-buyer-for-club-59067-23186711/
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GazBlades

Posts: 1,961 Member Since:05/08/2006

#1 [url]

Mar 20 09 9:08 AM

Copied from another place......



Yep, it's a guy called Gary Metcalfe. A business associate of Vaughan's. Metcalfe's directorships past and present are thus:

UK RECOVERY NO.4 ( LIMITED 06657855 Director Active - Newly Incorporated 28/07/2008
UK RECOVERY NO.4 (A) LIMITED 06657842 Director Active - Newly Incorporated 28/07/2008
CHESHIRE PROPERTY (CRANAGE) 2 LIMITED 06609744 Director Active - Newly Incorporated 11/06/2008
CHESHIRE PROPERTY (CRANAGE) 1 LIMITED 06609737 Director Active - Newly Incorporated 11/06/2008
PROPERTY FIRST GENERAL PARTNER NO.4 LIMITED 06521575 Director Active - Newly Incorporated 03/03/2008
WEIGHTCO 2007 ( LIMITED 06377327 Director Active - Newly Incorporated 09/05/2008
WEIGHTCO 2007 (7) LIMITED 06376668 Director Active - Newly Incorporated 09/05/2008
JSPM PROPERTIES LIMITED 05650874 Director Non trading 20/09/2006
CPM PROPERTIES LIMITED 05644030 Director Non trading 12/07/2006
PROPERTY MANAGEMENT AND AQUISITIONS LTD 05644006 Director In Liquidation 06/12/2005
PROPERTY MANAGEMENT AND AQUISITIONS LTD 05644006 Company Secretary In Liquidation 06/12/2005
LIVERPOOL SPONSORING GROUP LIMITED 05376866 Director Company not trading 02/03/2005
BASE INTERIOR DESIGNS LIMITED 05047819 Director Financial Statements too old 28/01/2006
SPORTS MANAGEMENT CONSORTIUM LIMITED 04344864 Director Company is dissolved 13/05/2004
BLUE PROPERTIES & INVESTMENTS LIMITED 04101337 Director In Receivership / Administration 13/05/2004
INVEST-PROP.COM. LIMITED 03955477 Director Company is dissolved 13/05/2004
BLUE PROPERTY DEVELOPMENTS LIMITED 03952877 Director Company is dissolved 13/05/2004

Of those companies still trading, they've all got credit ratings of between 20 and 32. As you'll know 30 is considered high risk . Chester's current credit rating is 1 .

As at May 2007, CCFC owed £615,000 in bank loans and non bank liabilities of £4,578,008 . Any new owner will have to take on these debts and I can't see how a guy in businesses listed about is going to take on debts of at least £5m (it's probably even higher). There's something fishy about it all but I'm sure it will come out. Probably next Thursday .

Either way, I don't believe for one minute that Chester will be taken over in full.

image

Give this man two years and a damn testimonial!!!!

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impnut

More than a Demi-God

Posts: 1,619 Member Since:07/08/2006

#2 [url]

Mar 20 09 12:43 PM

A property developer, what a surprise.

Buy cheap in the recession sell for housing or retail when the market improves.

Looks as if they will be moving grounds then. Unless of course he, or his funders, want the asset value of the ground to bolster the overall value of his property holding.

Never, never, never let a private individual or company gain ownership of the ground.

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