New beginnings - 25% Truth, 80% Bollocks

[STFC_Manc]

I guess it might be new to some. Who can tell. Its all in the public domain if that's what you mean.

I mean it's been widely reported, to say he was originally 'sitting on this until the 2nd Feb' is a stretch.

[RobertT]

These are weird times.

I know Jason Lane - I sent to school with him.  Guess what, fun fact people - he was in the school team and good friends with Andy Minturn, our lads Dad.  In this same team was a certain Wayne Hatswell.  Another fun fact - another of their friends and team mates was/is the Head of Youth Development at Chelsea and has been for years (at least involved in that set-up), Jimmy Fraser (not suggesting anything by the way, he is a good bloke I am advised).

Anyway, the Liquidation Jason was referencing is the Australian one from last year I believe.  The one where Clem offloaded the business to someone internal just before it needed to file for liquidation, going on to claim it was nothing to do with him, after first having a spokesperson suggest just restructuring.  Similar to the UK one, although he still owned that one at the time of liquidation and owing 1m to creditors - the interesting part of that one was the scale of the money "owed" to the Australian company.  I reckon he has some decent lawyers who know how to avoid stuff, which is why the bleeting about EFL advice never rang true.

[Bogus Dave]

I’m fairly certain 80% of what Jason posted yesterdat was already stuff put out by the adver in the summer

I’m fairly certain he’ll have had to pay for that information, because the Australian companies house isn’t free like ours.

And his able takes in the summer were laughable

[ChalkyWhiteIsGod]

Clem seems a lot like Power in the sense that he's been involved with a lot of failed companies that end up in the shit but they come out smelling of roses.

And we're the mutual company of them.

[Tails]

Clem seems a lot like Power in the sense that he's been involved with a lot of failed companies that end up in the shit but they come out smelling of roses.

And we're the mutual company of them.

And appears to have really sketchy "friends".

[Wobbly Bob]

I think that Power had a much worse record when it came to failed business ventures.

Someone would need to pay up to see how the main Axis business is doing in Australia while unravelling the structure at the same time.

I suspect that Clem is sitting on a personal bigger pile than Power ever was, but as we know Power was adept at "investing" other people's money.

[RobertT]

I think that Power had a much worse record when it came to failed business ventures.

Someone would need to pay up to see how the main Axis business is doing in Australia while unravelling the structure at the same time.

I suspect that Clem is sitting on a personal bigger pile than Power ever was, but as we know Power was adept at "investing" other people's money.

The fact that Clem let slip his businesses are under pressure (he mentioned his Australian business needed time and effort due to the strain of Covid on the business and the general economy, which for a BS expert is code for in trouble I think), means he may well not have much of his own money.  His business can supply cash, but he may be in a position of needing to determine if that goes to STFC or pays his plumbing creditors.

[Riddick]

If we were to be generous to Clem, the world has been a bit of a mess the last 5 years and a lot of businesses will have been hit by the pandemic, general economy down turns etc. Its possible he and his business was in a better state when he was trying to acquire the club, and that the last 3 years have been more challenging. Clem doesn't have the individual wealth remember, he uses his business to fun the club.

It may or may not be true, but it sounds kinda reasonable to me.

It doesn't explain a lot of how the club is being run, but possible gives a sense of why some Axis companies have had issues.

[The Artist Formerly Known as Audrey]

I think that Power had a much worse record when it came to failed business ventures.

Someone would need to pay up to see how the main Axis business is doing in Australia while unravelling the structure at the same time.

I suspect that Clem is sitting on a personal bigger pile than Power ever was, but as we know Power was adept at "investing" other people's money.

17 bankruptcies before he took control. Never lost a penny.

[RobertT]

If we were to be generous to Clem, the world has been a bit of a mess the last 5 years and a lot of businesses will have been hit by the pandemic, general economy down turns etc. Its possible he and his business was in a better state when he was trying to acquire the club, and that the last 3 years have been more challenging. Clem doesn't have the individual wealth remember, he uses his business to fun the club.

It may or may not be true, but it sounds kinda reasonable to me.

It doesn't explain a lot of how the club is being run, but possible gives a sense of why some Axis companies have had issues.

I agree.

The evidence we have suggests a business that was trying to stretch itself out across the globe and become a bigger player.  The actual organisation in the UK never seemed to be that big - he owed most money to his own business, suggesting it never really took off beyond the literal getting off the ground and a few contracts (Wembley shopping area and Spurs bogs I think).

No doubt, as the liquidation events are showing, the business is feeling the pinch and contracting.

None of that has a huge impact on STFC - he should still be able to run a club on 7m-8m in revenue at this level, but it certainly takes away his gaze and limits him to the "sustainability" approach.  The way he runs STFC suggests someone used to doing back street deals, not a big business player.  On the one hand, that doesn't tally with the fact he did grow Axis, but that could be my lack of knowledge of the industry (maybe his sort of people get business done without the usual smarts I am used to) or he could have had decent consultants helping him.

[RobertT]

17 bankruptcies before he took control. Never lost a penny.

And some less than stellar football club dabbles before us.

It was clear he was a gambler, the horse racing is obviously a part of that.  He thought he could use his footballers insider knowledge and contacts to wheel and deal with other peoples money and make a tidy profit.  The risk with gambling is it doesn't always pay off, and you keep craving the next big hit.  I really wonder what would have happened without Covid - would he have managed to recycle his Halcyon period of Ajose, Luongo, Gladwin etc. or would he have ended up digging a bigger and bigger grave like the Chelsea deal (and kids we got), sort of like Clem is doing now?

Trouble is, we were stuck in the middle, and the people funding the bets ran out of patience, and probably money.

[The Artist Formerly Known as Audrey]

Got to give him his due. He was a canny fucker. Used other people’s money to run the club.

That Abramovich ‘deal’ was eyebrow raising in the extreme. Wonder what else may be in the woodwork - still.

[joeydubya]

And some less than stellar football club dabbles before us.

It was clear he was a gambler, the horse racing is obviously a part of that.  He thought he could use his footballers insider knowledge and contacts to wheel and deal with other peoples money and make a tidy profit.  The risk with gambling is it doesn't always pay off, and you keep craving the next big hit.  I really wonder what would have happened without Covid - would he have managed to recycle his Halcyon period of Ajose, Luongo, Gladwin etc. or would he have ended up digging a bigger and bigger grave like the Chelsea deal (and kids we got), sort of like Clem is doing now?

Trouble is, we were stuck in the middle, and the people funding the bets ran out of patience, and probably money.

Like all gamblers, there was a point where he could have comfortably cashed out, made a small profit, and gone again - Waterford or wherever. But the magpie eyes and the greed meant he ran out of road. Think that could be where we are now.

[Family at War]

How many are of the same opinion as me? We are bouncing from chancer to chancer and won't see any ground improvements in my lifetime!

70 now and been waiting 30 years! Might as well get money due to each person and let them do some good with it. Nearly everybody in this club is in it for their own gain.

[Robinz]

One question still remains unanswered which i dont clearly understand ..
When is the Standing / Power court case and presumably its a civil action and can someone give a brief overview of what this about and how it now effects STFC ?