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Author Topic: Fitton Interview from the WDP - 7/12  (Read 4757 times)
Mister Lorenzo
Dirk Diggler

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« on: Friday, December 7, 2007, 08:15:00 »

Apologies if this has already been posted but how long can these crooked ***** get away with it?Huh??


Businessman Andrew Fitton has not ruled out reviving a bid to take control at Swindon Town - but admits the chances look slim after a proposed takeover deal collapsed yesterday.

Wiltshire-based Fitton and his consortium withdrew their offer amid a stalemate over ownership of lucrative County Ground development rights.

The rights, which would yield significant profits from any future property deal, are owned by a seperate holding company. Fitton wanted them returned to the club as part of his transaction. He abandoned the bid after a phone call made it clear the issue was unlikely to be resolved quickly.



Fitton said: "I had warned the people at the club that these things have a lifespan. I am angry and exasperated with these people because they are messing with other people's lives. Our consortium is one of high-level business individuals with a lot of money involved and they have other things to do with their time."

Fitton claims the current owners agreed to transfer the development rights back to the club when the deal was hammered out in principle. But that transaction failed to materialise.

"The only way they could get it back on now would be to come and apologise to us and do everything they agreed to at the outset," said Fitton. "They were happy to do the deal but said they couldn't give us the development rights straightaway. They asked us to trust them and said that they would sort the problem out later. We couldn't take that chance - and that was the real key issue.

"We expect people to do what they say they are going to and if they don't then we don't want anything to do with them."

Swindon were last night exploring other options, with the threat of a winding-up order hanging over the club.
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wokinghamred

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« Reply #1 on: Friday, December 7, 2007, 08:21:18 »

Quote from: "Mister Lorenzo"
Apologies if this has already been posted but how long can these crooked ***** get away with it?Huh??


Businessman Andrew Fitton has not ruled out reviving a bid to take control at Swindon Town - but admits the chances look slim after a proposed takeover deal collapsed yesterday.

Wiltshire-based Fitton and his consortium withdrew their offer amid a stalemate over ownership of lucrative County Ground development rights.

The rights, which would yield significant profits from any future property deal, are owned by a seperate holding company. Fitton wanted them returned to the club as part of his transaction. He abandoned the bid after a phone call made it clear the issue was unlikely to be resolved quickly.



Fitton said: "I had warned the people at the club that these things have a lifespan. I am angry and exasperated with these people because they are messing with other people's lives. Our consortium is one of high-level business individuals with a lot of money involved and they have other things to do with their time."

Fitton claims the current owners agreed to transfer the development rights back to the club when the deal was hammered out in principle. But that transaction failed to materialise.

"The only way they could get it back on now would be to come and apologise to us and do everything they agreed to at the outset," said Fitton. "They were happy to do the deal but said they couldn't give us the development rights straightaway. They asked us to trust them and said that they would sort the problem out later. We couldn't take that chance - and that was the real key issue.

"We expect people to do what they say they are going to and if they don't then we don't want anything to do with them."

Swindon were last night exploring other options, with the threat of a winding-up order hanging over the club.



"They asked us to trust them"

What a fucking joke. Trust the least trustworthy person in Berkshire!
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land_of_bo

« Reply #2 on: Friday, December 7, 2007, 08:26:36 »

http://www.bbc.co.uk/comedy/fastshow/characters/images/chris_jackson.jpg

I'm a little bit wooo, a little bit weee.....I'm a geezer
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lambourn red

« Reply #3 on: Friday, December 7, 2007, 08:36:45 »

"They asked us to trust them and said that they would sort the problem out later"

That's like asking a convicted paedophile to babysit, If I was Fitton I would make these Bastards beg for a reprieve.
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Spencer_White

« Reply #4 on: Friday, December 7, 2007, 08:43:49 »

Im glad he didnt fall for it.

The club is an utter disgrace.
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Luci

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« Reply #5 on: Friday, December 7, 2007, 08:54:37 »

Quote
I had warned the people at the club that these things have a lifespan. I am angry and exasperated with these people because they are messing with other people's lives. Our consortium is one of high-level business individuals with a lot of money involved and they have other things to do with their time."


Like this bit.
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kaufman

« Reply #6 on: Friday, December 7, 2007, 09:16:44 »

ok i'm clutching like i've never clutched at straws before but just maybe fitton has done this to make them realise he wont be fucked about and they will come back to him and take his original offer.

see quote below


"The only way they could get it back on now would be to come and apologise to us and do everything they agreed to at the outset," said Fitton. "They were happy to do the deal but said they couldn't give us the development rights straightaway. They asked us to trust them and said that they would sort the problem out later. We couldn't take that chance - and that was the real key issue"
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Batch
Not a Batch

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« Reply #7 on: Friday, December 7, 2007, 09:19:56 »

I don't think so.

If they do what he requests, then he'll talk. But I don't think he is trying to force the hand,  I don't think this is a hollow threat. I think he will walk away.
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kaufman

« Reply #8 on: Friday, December 7, 2007, 09:23:53 »

not a hollow threat as yes i do agree he will and lets face it as it stands has walked away. but maybe he did this as it was the only way he can get them to do as he says and shift it towards the deal he wants.
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Sussex

« Reply #9 on: Friday, December 7, 2007, 09:26:38 »

Plan B it is then.

Oh.
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lambourn red

« Reply #10 on: Friday, December 7, 2007, 09:28:10 »

It is down to us a as fans now to force these cunts to sell to Fitton, we need to make their personal lives hell.
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Tails

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« Reply #11 on: Friday, December 7, 2007, 09:28:52 »

Quote from: "lambourn red"
It is down to us a as fans now to force these cunts to sell to Fitton, we need to make their personal lives hell.


I 100% agree.
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le god cuervo

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« Reply #12 on: Friday, December 7, 2007, 09:35:00 »

I still don't see how they can charge for the development rights?! they don't own the fucking ground! and there are no plans!  :wall:

how can they charge money for something that doesn't exist!
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Panda Paws

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« Reply #13 on: Friday, December 7, 2007, 09:52:07 »

Quote from: "le god cuervo"
I still don't see how they can charge for the development rights?! they don't own the fucking ground! and there are no plans!  :wall:

how can they charge money for something that doesn't exist!


They sold the development rights to the Shaw Park Development holding company which is part owned by Wills/Diamandis/St Modwen. They basically hold the rights to any future ground redevelopment, apparently. The reason they can't sort this out is that they owe £2.5million to St Modwen who won't release their proportion of the rights until they get their cash back - which is fair enough.

I don't know this, but I'm guessing that MD/SSW are also trying to hold on to their share in the hope of recouping their losses - so if Fitton bought the club but not the development rights he'd end up running the club, building a new ground, then sending off a proportion of the profits to MD/SSW/St Mod afterwards.

The first bit fact, second bit guesswork.
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RobertT

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« Reply #14 on: Friday, December 7, 2007, 09:52:28 »

Quote from: "le god cuervo"
I still don't see how they can charge for the development rights?! they don't own the fucking ground! and there are no plans!  :wall:

how can they charge money for something that doesn't exist!


The idea seems to be that the Football Club business has sold on any future profits from any development associated with it.  This is not specific to the County Ground, but refers to any development associated with STFC.  Presumably it is a "potential" future asset that you cvould trade liek this because Football clubs have been well known as Trojan horses to get developments granted.
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