Dan Rice acquires 10% of nothing. Football club ownership has little to do with supporters, so not really worth worrying about.
Lomtadze will do what he likes.
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Good news for me…Rice will make us great again!!
Is Adams Park being turned into a paddy field then?
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Best joke of the day.
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This will be like lighting the blue touchpaper to the usual suspects on here.
Hysteria,chinese whispers, and doomsday predictions incoming …
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Agreed with this, the more incentive Rice has to do a good job the better
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Wait until Dan Rice acquires 10% of the Gasroom
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The Doomsday Clock is now set at 85 seconds to midnight!
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And that direction is DOWN!
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Well that news certainly got the usual Dan Rice haters active again.
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Suspect it is reasonably common practice to reward senior executives with a percentage holding or share deal within the business, as opposed to giving them a dividend payout or large pay increase.
No money changes hands at the time and I’m assuming in this case, ML does not have to pay a lot of dividends out, as this would mean the Trust and Rice get 10% and ML gets 80%.
I can never forgive Rice for his first 12 months in role, Bloomfield treatment etc. It is not water under the bridge on a personal level. This is my position, it will likely never change and I am not trying to bring up old discussions.
However, the Academy seems to be doing well. Some of the ticketing initiatives and clothing sales/promotions have worked well.
He seems to be trying to repair some of his mistakes in terms of recruitment of first team staff and players, (from his first 12-15 months), in his 2nd year with us.
There is no silver bullet in football and there will always be wrong decisions, as well as right ones. If DR can continue to learn then hopefully with a vested interest in the club now, it will be more ups than downs.
Only time will tell. My only real concern is if he gets a lot wrong moving forwards, I assume if ML wished to have a change of direction, he’d need to buy him out. Which may prove difficult/expensive. Perhaps, we kick that can down the road.
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Why would Lommy need to buy him out. In practice, Rice’s 10% is as meaningless as the Trust’s 10%.
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Upside - it might incentivise Dan Rice to help the club become sustainable / reach a profit as that way he’ll get more value from his shares and possibly an annual derivative pay out. To make any kind of profit we’re going to need to start getting the academy into the first team, so Rice will hopefully put pressure on Duff to play them - and if he won’t, sack him and bring someone in who will.
The downside is that if Rice hasn’t learned from early mistakes and keeps making wrong decisions, he’ll be harder to sack as CEO. But the signs from last season are that he has. So that’s all good then.
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It can be a fairly standard business agreement to get shares as part of payment.
There could have been a simple renumeration agreement that if he hits certain KPI’s he’ll be paid in shares.
He doesn’t need to be able to afford to buy them
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Can only assume that this arrangement would help circumvent financial rules in some way (not sure how) because it makes little sense otherwise.
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Should playing academy players be an ideological imperative, no matter whether it’s the right decision in any given situation?
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Not an imperative, sure, but certainly quite useful given the amount of money we’ve spent on building an academy alongside the owner’s public statements that it’s a priority for him and central to the club’s business model.
Good point, lower wages would help SCMP
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Steady, any criticism of the trust normally gets some proper bahooky twitching.
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Something to do with if you have someone involved whose name is a foodstuff, you get to write off certain spends?