Lee Power

[Only Me]

Well lets see how the next few days unfold. I've followed the club 42 years and am a miserable fucker at the best of times - maybe the 2 are connected. Sometimes I come across a bit stronger than I mean but beer and passion are a heady mix.
I really want to believe you Steve, I really want to believe Jed. Saying that I really want to believe Power. Hopefully in the coming weeks I'll have sufficient information to make an informed judgement rather than a gut feel. At the moment I feel the club is very vulnerable and that makes me very wary of everyone, if not a little scared.  
Its great that you're on here and I respect that.

Well, instead of trying to knock the comments on here, wait for the outcome then comment on the facts.

Hopefully that will reduce your stress levels a bit. Otherwise carry on as you are and stress yourself out on anything you remotely disagree with (which is likely to be this comment)

[stfc2012]

Fully expecting SM to bottle it today. He has his chance and he's said he's going on record. But I can feel a U-Turn coming.

[Ticker45]

Being even older than chalkies-shorts, I have witnessed real ups and downs of the various people in "charge" of the Town and
this present little fiasco does not bode well.

I do not ever expect to be told the whole truth of the current situation but would appreciate it if it were sorted one way or another quickly as another drawn out saga is not in anyone's interest.

 

[Arriba]

This type of thing is the norm for STFC now isn't it. Got to be honest and say i've hardly batted an eyelid at this new issue dragging STFC through the mud and this is my first comment on it.
Nothing surprises me anymore where we are concerned. Jed and co looked a ropey outfit from the start imo but it's hard not to like the guy.
 I'm pretty sure if it was the fans in charge there would still be problems in the boardroom too,only the'd have no contacts or money either. We've got lucky with getting talented kids from Spurs,without that I'm sure we'd be fucked on the pitch as well as the shite going on off it.

[tans]

Fredis back i see

An attempt at some clarity. A brief resume of the facts is necessary, not least so that fans know who they need to support in all this, however unpalatable that may seem. When Billy Liar bought the club for £1, together with Martin King who because of his disqualified director status remains in the background, but is still 50/50 with Billy, they managed to stump up the £1 themselves. The club had substantial cash in the bank , having just taken in the season ticket money, but substantial ongoing liabilities in the months ahead, based on the budget of the previous Board which Black was no longer prepared to fund.
 
Billy, King and sidekick Murrall immediately helped themselves to some of the lovely cash (innitogether some might say), to the tune of nearly £200k. They then seek outside investment for the club, up steps Greg Hall, who becomes a director, but when he discovers the lies Billy has told him, he decides not to invest. Enter Lee Power, who steps into the investor role and is persuaded to pay off Hall for his troubles and a further £150k to Billy and King for an equity stake. As the club continues to need funds over the following months, Power puts more cash in.
 
Fast forward to about a month ago. Power is concerned about the continued cash outflows, grabs control of the bank account and is horrified at payments made without his knowledge, not least to Billy's account in Malta. Murrall is asked in no uncertain terms to leave. Power, furious at the lies Billy has told him, tries to get control of the club. Problem is, despite investing in the club, Power has not secured the proper paperwork to reflect what he believes is his true stake in the club. His latest investment , he believes, triggers an option to take control of a majority holding, but, from a legal standpoint, does it ?
 
Meanwhile Billy, probably realizing the game is nearly up, renews attempts initiated a few months earlier to flog the club. A third party is mandated to sell it and is currently hawking it around, Billy and King only wanting £1M each for their share !!
 
There are only two answers to the poll the Adver ran on Friday and sadly, one of them ("neither") is not realistic. Fans may have preconceived ideas about Power, but at least he has been putting money into our club not sucking it out. Billy has done the complete opposite whilst maintaining an almost admirable bravado. Not surprisingly, the Club has suffered in the interim, as debts pile up. Legal writs for payments not made are in danger of sinking it and trade creditors, with key people like pitch and kit suppliers at the forefront, are at horrific levels. To gain our support, Power should be upfront about these issues, fans respect honesty. He also needs to put someone in daily charge that he can trust and who is credible - if he can only be in the country 90 days then he needs a proper chief exec.

Let's be clear, Power's plans may be painful to witness, as the budget is slashed to pre Sturrock levels. Wes and others will leave in Jan. But we may still have a club to support - the alternative is unthinkable.

[jayohaitchenn]

Who the fuck is Billy Liar?

[Peter Venkman]

Fredis back i see

Yes she is.

[Arriba]

Who the fuck is Billy Liar?

I'm guessing Jed

[kerry red]

TBH that all sounds entirely feasible.

It is probably the domesday scenario some people feared at the outset.

As for Jed et al wanting £1m each for their shares - the business is only worth what the books show.

[sonicyouth]

Did we ever figure out who fredi is?

[Peter Venkman]

Did we ever figure out who fredi is?

We didn't. but Jed knows who she is apparently.

[Flashheart]

TBH that all sounds entirely feasible.

It is probably the domesday scenario some people feared at the outset.

As for Jed et al wanting £1m each for their shares - the business is only worth what the books show.

Well it would, wouldn't it? Anybody with half a brain would know to devise a story that would sound feasible otherwise what would be the point.

Whether or not there's an ounce of truth in it remains to seen.

[Peter Venkman]

Well it would, wouldn't it? Anybody with half a brain would know to devise a story that would sound feasible otherwise what would be the point.

Whether or not there's an ounce of truth in it remains to seen.

Exactly my thoughts too.

[Batch]

I'm guessing Jed

me too. Nickname used to avoid liable..

[jayohaitchenn]

Fredi had numerous chances to put up or shut up and she has done neither. Not interested.