5 Years ago today - the AGM

[Prestwich_Blue]

It was what turned out to be City's last AGM as a quoted company. Was anyone else there?

Let's set the scene: We were skint, with the SWP money going mainly to cover losses and give us some working capital. John Wardle wasn't lending any more money to the club and there was serious concern about how much longer we could keep going.

Pearce was manager and we had 20 points from 16 games and were in mid-table. We'd just drawn 0-0 at home to Watford and were about to go to the Swamp and lose 3-0. The only bright spot to come was the three wins on the bounce over the Xmas/New Year period, including the last goals we were to score at home that season. Only three consecutive away wins at Boro, Newcastle & Fulham were to keep us up.

That morning the club announced that they were in talks that may lead to investment in the club. This was a pack of lies which was a desperate attempt to stop Sky (who had 10% of the shares) selling their shareholding to a group of fans. In fact it was done in such haste when they discovered Sky's plans that they didn't inform the Stock Exchange, who suspended the shares until they received a proper explanation and a formal statement.

The other two big shareholders (Franny Lee & Mark Boler) weren't happy with the way the club was being run and there were other significant shareholders who felt the same way and wanted to see some additions/changes to the board, including getting David Bernstein back on it. The usual questions were asked about the finances but Mackintosh stonewalled as usual. He kept telling us our £60m debt was manageable when it was plain that it wasn't.

My god, how things have changed.

 

[uweuweuwe]

Those were the days, why doesn't roberto have a childs toy on the bench to give us luck.

 

[The Pink Panther]

How much were we up for sale for?

I know you've said in the past that there was a group of supporters trying to organise a buy. Was it really possible?

It would have set a fantastic precedent in the Premier League and it may have changed the way club's are owned in this country forever.

 

[C17Y CJ]

Was that the AGM when they went on and on about a big increase in Corporate activity and someone asked 'If we're so good at corporate hospitality, why are we having the AGM in a tent!!'

Was very funny.

 

[fbloke]

If you want to know what it was like just look at Everton now, remove the manager and replace him with the aforementioned stuffed toy and hey presto, Manchester City five years ago.

 

[Didsbury Dave]

Regular conversation in the pub about that time :

"We're in trouble. We could end up going down. If not this season then next"
Everyone takes worried sip of beer, Brief silence descends.

"What we need is some billionaire to buy us".
Everyone laughs ironically.

"Yeah, imagine. Buy all the best players and all that. Knock those red cunts off their perch for good"
More laughter

"Imagine that scotch prick's face? City come to Old Trafford and fucking humiliate them!"
Louder laughter

"Win the league and that. Can you imagine if City won the league? What it would feel like?"
Lots of "Yeah" and "Jesus". Everyone drifts into their imaginations for a second.

"Won't happen though, will it?"
"Course it fucking won't, we'll always be shit"
Rueful Laughter as conversation moves on.

 

[Tbilisi]

It was what turned out to be City's last AGM as a quoted company. Was anyone else there?

Let's set the scene: We were skint, with the SWP money going mainly to cover losses and give us some working capital. John Wardle wasn't lending any more money to the club and there was serious concern about how much longer we could keep going.

Pearce was manager and we had 20 points from 16 games and were in mid-table. We'd just drawn 0-0 at home to Watford and were about to go to the Swamp and lose 3-0. The only bright spot to come was the three wins on the bounce over the Xmas/New Year period, including the last goals we were to score at home that season. Only three consecutive away wins at Boro, Newcastle & Fulham were to keep us up.

That morning the club announced that they were in talks that may lead to investment in the club. This was a pack of lies which was a desperate attempt to stop Sky (who had 10% of the shares) selling their shareholding to a group of fans. In fact it was done in such haste when they discovered Sky's plans that they didn't inform the Stock Exchange, who suspended the shares until they received a proper explanation and a formal statement.

The other two big shareholders (Franny Lee & Mark Boler) weren't happy with the way the club was being run and there were other significant shareholders who felt the same way and wanted to see some additions/changes to the board, including getting David Bernstein back on it. The usual questions were asked about the finances but Mackintosh stonewalled as usual. He kept telling us our £60m debt was manageable when it was plain that it wasn't.

My god, how things have changed.

Not as good as the one in the mid 90s.Things were gettng a little tasty when a fire alarm went off.Always remember thinking it could only be City where I could be stood outside next to Frank Clark waiting to go back in.The AGM promptly finished when we went back in as the place was needed for some actors who had booked it.Happy Days!

 

[Prestwich_Blue]

How much were we up for sale for?

I know you've said in the past that there was a group of supporters trying to organise a buy. Was it really possible?

It would have set a fantastic precedent in the Premier League and it may have changed the way club's are owned in this country forever.

Let me say that I wouldn't swap where we are now for anything and it wouldn't have been full supporter ownership of the club, certainly not in the short-term. We'd arranged to buy Sky's shares and were confident of enough support from shareholders we'd canvassed that we could have controlled a majority or near majority of the shares. The price we would have paid for Sky's shares was between £1.5 and £2m iirc, valuing the club at less than £20m (Shinawatra paid just over £21m).

The plan was to get another 2 or 3 people on the board, of whom Bernstein would have been one plus there was someone else who was keen. However there was no magic bullet to solve our financial issues at the time but we couldn't understand how clubs with a little more revenue or even less, could be doing better than us financially.

 

[clp1000]

I was at the AGM when Joe Royle replied to a fan/shareholder with "well go and support Stockport or Bury then" ... he very quickly backtracked.

The highlight was when an elderly fan had his turn to "ask a question" and he started shouting his opinions before he was handed the microphone, nobody could hear him. When he finally got it, he carried on shouting but he pointed the Mic at the top table so still nobody heard what he had to say - hilarious.

 

[Soulboy]

The AGM was always one of the great days out of the season.

Usually held in December, the pre-Christmas piss up was legendary. We always filled out the Britons Protection before doing a pub crawl for the rest of the night.

We might have been poor, but we were fucking happy!

Possibly the one thing I miss most from the bad old days...<br /><br />-- Thu Dec 08, 2011 12:35 pm --<br /><br />

It was what turned out to be City's last AGM as a quoted company. Was anyone else there?

Let's set the scene: We were skint, with the SWP money going mainly to cover losses and give us some working capital. John Wardle wasn't lending any more money to the club and there was serious concern about how much longer we could keep going.

Pearce was manager and we had 20 points from 16 games and were in mid-table. We'd just drawn 0-0 at home to Watford and were about to go to the Swamp and lose 3-0. The only bright spot to come was the three wins on the bounce over the Xmas/New Year period, including the last goals we were to score at home that season. Only three consecutive away wins at Boro, Newcastle & Fulham were to keep us up.

That morning the club announced that they were in talks that may lead to investment in the club. This was a pack of lies which was a desperate attempt to stop Sky (who had 10% of the shares) selling their shareholding to a group of fans. In fact it was done in such haste when they discovered Sky's plans that they didn't inform the Stock Exchange, who suspended the shares until they received a proper explanation and a formal statement.

The other two big shareholders (Franny Lee & Mark Boler) weren't happy with the way the club was being run and there were other significant shareholders who felt the same way and wanted to see some additions/changes to the board, including getting David Bernstein back on it. The usual questions were asked about the finances but Mackintosh stonewalled as usual. He kept telling us our £60m debt was manageable when it was plain that it wasn't.

My god, how things have changed.

Not as good as the one in the mid 90s.Things were gettng a little tasty when a fire alarm went off.Always remember thinking it could only be City where I could be stood outside next to Frank Clark waiting to go back in.The AGM promptly finished when we went back in as the place was needed for some actors who had booked it.Happy Days!

Wasn't actors, it was supposedly the orchestra had to rehearse!

Nobody believed a word of it.

The fire alarm was allegedly initiated by a former well-known Manchester "character" who was regularly involved in radio phone-ins...