RobertT
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« Reply #4320 on: Monday, July 24, 2023, 15:20:19 » |
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Axis is made up of lots of companies. This sort of thing happens all the time in the business world. The account that posted this on twitter gets enormous pleasure out of watching people melt down and squabble.
There are indeed a multitude of reasons a business may go into Liquidation, some of which are about getting the business restructured. This one does look odd as it is the main Sydney business from which they all grew, plus the UK one was recently petitioned with a winding-up order (public domain). |
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Mooneyraker
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Beware Aussies in bucket hats bearing gifts
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« Reply #4321 on: Monday, July 24, 2023, 15:36:02 » |
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Joy of joys. Easy to look at this and our lack of signings and make 2 + 2 = 5 but it doesn't feel great...  |
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The Artist Formerly Known as Audrey
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Posts: 19398
?Absolute Calamity!?
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« Reply #4322 on: Monday, July 24, 2023, 15:37:50 » |
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So. Has Clem moved circa £7m out of his plumbing businesses into the ‘safe haven’ of STFC and then closed them down?
Bit like what Power wanted to do, but in reverse.
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Mooneyraker
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Beware Aussies in bucket hats bearing gifts
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« Reply #4323 on: Monday, July 24, 2023, 15:38:48 » |
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Trust seeking clarification on the matter
Don't worry, they did extensive due diligence on Clem. In the words of 'Zav', he's "the messiah." |
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« Last Edit: Monday, July 24, 2023, 15:43:13 by Mooneyraker »
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RobertT
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« Reply #4324 on: Monday, July 24, 2023, 15:39:00 » |
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The club was already in a position of having to fund itself - that much was made clear recently in the AB minutes and points discussed by Rob Angus. While this would be bad news, if it is indeed a financial issues rather the restructure issue, it shouldn't cause an immediate impact. It would though reinforce that we are running on what we earn from here on in.
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fuzzy
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A Bastard apparently
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« Reply #4325 on: Monday, July 24, 2023, 15:41:54 » |
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It would though reinforce that we are running on what we earn from here on in.
I know I'm being naive but, that is exactly how it should be. |
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RobertT
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« Reply #4326 on: Monday, July 24, 2023, 15:43:19 » |
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So. Has Clem moved circa £7m out of his plumbing businesses into the ‘safe haven’ of STFC and then closed them down?
Bit like what Power wanted to do, but in reverse.
1.6m came directly from an Axis company - Axis Football Investments Ltd, a UK registered company seemingly set-up solely for the purpose of diverting funds to the football club. That business had financial relationships with Axis Services Group Ltd, the UK arm of Axis. The rest came from personal funds, which you'd presume include any dividends he paid himself from prior profits from Axis. |
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RobertT
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« Reply #4327 on: Monday, July 24, 2023, 15:44:21 » |
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I know I'm being naive but, that is exactly how it should be.
It is not how the majority of the clubs operate, that much is for sure. |
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ChalkyWhiteIsGod
TOLD YOU SO
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« Reply #4328 on: Monday, July 24, 2023, 15:45:01 » |
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Cowley be having a field day with this soon, I'm sure.
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JanAirplaneMan
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« Reply #4329 on: Monday, July 24, 2023, 16:25:02 » |
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Nemo
Shit Bacon
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« Reply #4330 on: Monday, July 24, 2023, 16:25:49 » |
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Well that was prompt.
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stfcjack
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The Swindon lot don't seem to respect you
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« Reply #4331 on: Monday, July 24, 2023, 16:27:15 » |
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Fair play to them
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Hyabb17
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« Reply #4332 on: Monday, July 24, 2023, 16:28:43 » |
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Although I commend the club for the quick statement i would also say that they would hardly admit an issue could be in the pipeline. Just playing devils advocate really. |
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« Last Edit: Monday, July 24, 2023, 16:32:07 by Hyabb17 »
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Batch
Not a Batch
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« Reply #4333 on: Monday, July 24, 2023, 16:29:48 » |
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at least it was quick and concise.
can't see what else they can do
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DMC
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« Reply #4334 on: Monday, July 24, 2023, 16:32:41 » |
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Although I commend the club for the quick statement i would also say that they would hardly admit an issue could be in the pipeline. Just playing devils advocate really.
Good point. Cunts are lying then |
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