Lee Power

[horlock07]

I wasn't going to post this, but it's in the public domain.

this is a trust board member. I have no idea how close they are to the bleeding edge

but this suggests share transfer needs doing after EFL

https://twitter.com/socialPolly/status/1414935882545651714?s=19

like I say, it's not official Trust communication.

As I have noted before it makes perfect sense for the EFL issue to be bottomed first, otherwise Clem is giving Power £200k+ for something that he doesn't actually know whether the FL will allow him to own/run. I would hope that the paperwork for the share transfer is done awaiting Clems signature on FL approval, equally if I were Clem's lawyers in light of the court's conclusions I would be pushing for Power to get them signed in this lull period so its all ready to go.

any reason to think it won't be approved? I guess you can't share that but I thought I'd ask

Its way beyond my area of expertise, but I would hope that as Clemm has already passed the F&PP to be a Director then it should not be much more of an issue than proving he has funds to run going forward?

I suppose the only elephant in the room are the on-going charges against Power/Standing and whether the FL want to make sure very carefully that they don't prejudice anything going forward.

[MangoRed]

There's some confusion over whether it's the EFL or the shares we're waiting for.

It would be nice if somebody in the know clarifies.

Power hasn’t transferred the shares over yet… that’s where we need him to play ball, I think. I think it would also show on companies house that’s he’s resigned from the holding companies.

[JanAirplaneMan]

Hi All
Yes Alex on twitter is a board member of the Trust, as I am. As I said yesterday the latest is that the EFL full approval is imminent and very close (Lawyers confirmed). Once that is done the Share transfer from Power to Clem can then occur. This cant and wont occur until Clem has this approval from the EFL. Clem then transfers funds for the shares and power issues them to clem. Then companies house get updated to the change of ownership. Then Clem is good to go. They are going as quickly as they can, working around the clock to make this happen asap.

[Batch]

thanks for the update Jan. That clarifies everything

[Tails]

Hi All
Yes Alex on twitter is a board member of the Trust, as I am. As I said yesterday the latest is that the EFL full approval is imminent and very close (Lawyers confirmed). Once that is done the Share transfer from Power to Clem can then occur. This cant and wont occur until Clem has this approval from the EFL. Clem then transfers funds for the shares and power issues them to clem. Then companies house get updated to the change of ownership. Then Clem is good to go. They are going as quickly as they can, working around the clock to make this happen asap.

Thanks for the update. Hopefully we see something resolved shortly.

[Flashheart]

That is a lot clearer now, thanks.

[Sippo]

These things take time, understandably. Don't think it's a matter of either party slowing things down.

[Jimmy HaveHave]

Anyone remember how bad things were at Bolton a few seasons ago with just over 3 weeks to the start of the new season.

[MangoRed]

Anyone remember how bad things were at Bolton a few seasons ago with just over 3 weeks to the start of the new season.

Yeah. They was shocking. Signed players in the bargain bucket at the end that nobody wanted and went down very convincingly……

[Jimmy HaveHave]

We can't be far away as a compairable😀

[Pookemon]

Yeah. They was shocking. Signed players in the bargain bucket at the end that nobody wanted and went down very convincingly……

Their takeover didn't go through till the 28th August so hopefully we will be well ahead of that.   
They also had a 12 point deduction, so had a huge mountain to climb.   No points deduction and another 6 weeks puts us well ahead of them, if miles behind everyone else

I can't see us being the only financially sick club at the mo - wouldn't be surprised if another basket case or 2 appear over the course of the season.

[Benzel]

Anyone remember how bad things were at Bolton a few seasons ago with just over 3 weeks to the start of the new season.

Their sale didn't go through til the end of August by which point they were on negative points and cancelled a fixture against Doncaster without notice and fielded a team with an average age of 19

Sent from my CLT-L09

[Jimmy HaveHave]

Cheers, hopefully we're nowhere near that stage yet!

[horlock07]

fielded a team with an average age of 19

Managed by Paul Hardcastle?

[Benzel]

Managed by Paul Hardcastle?

Sorry, I'm only in my 30s so I don't understand this reference 😋

Edit - OK that song is a banger

Sent from my CLT-L09