Thetownend.com

well done mr power, panic at stfc.

Care to elaborate?

Just a little?

Hey!? you can't say that just as i'm on my way to work

???????? court action over £1.2m is my guess

Perhaps the threat of legal action has actually happened?

The Adver has reported the club have been served with a 1.2 M Writ Not online yet but quote from the club is

"We have received some correspondence from Bill Power's lawyers and it is in the hands of our lawyers. There is not a lot else we can say at the moment"

Ta Gazza. It's what the club wanted though isn't it? "If you are so sure see you in court" IIRC.

given that the club wanted Power to agree it was for shares in the NDA, it must be doubtful that they have any other hard proof?

the intrigue deepens

Blooming hell! Nice way to start the day!  :D I don't see what the problem for the club is though. If they have then money now they can pay it surely?

....unless they have bought some more envelopes and stamps and costed them under 'Administration Expenses'......

 :shock:

I think the purchase price offered by the 'mystery investor' may have just dropped by £1.2 million.

I'm not sure how well informed/correctly informed these new investors are of the situation with Bill tbh.  

Hopefully they and the club were expecting this!

Well they've been pissing about for long enough!

I would think they've had time to find out most of what's gone on at the club.

Added to the fact that BP's 1.2 million loan/shares, has been bandied about on all the forums and the local media......

The club now has a 'get-out' for the investment failing due to that "Nasty Mr Power"

I guess you'll have to look elsewhere for investment guys - now where could that lead us ?...

I expect a scathing statement, along the lines of 'jeopardising the club's existence, ruining finely balanced negotiations, blah, blah, blah

Yes but theres a difference between forums/media speculation and what really goes on.

Who are these investors going to believe?  The crock of shite on the internet or what STFC are telling them? (Probably also a crock of shite but they arent to know that yet are they!)

This is all begining to hurt my head.

I long for the day when we can just concentrate on supporting a football team instead of watching the unnecessary soap opera that seems to be ongoing at the CG.

They've had 5 weeks of "due diligence". If they haven't turned up this nugget, there's really no hope.

It's on the adver site now.

Happy days :?

Give that fat bastard another burger to distract him. I'm bored of reading about this...

I'm going to use the Herthab method of dealing with this.

Everything is going to be ok.  The new owners would clearly have thought about this prospect and would have had £1.2m extra in the kitty just incase.  This will not infringe on our impending purchase of the Benfica 1st team.

Sorry, I know it sounds a bit sarcastic but I think I'm slipping into a state of delirium

Don't read it then?

Well the timing of this is almost a masterstroke by BP. He is basically saying "If you have the money then pay up" Maybe the takeover has been completed and BP is chancing his arm to get his money or maybe it's the last throw of the dice from the FC.

Confused? You won't be after this week's episode of...


http://www.citypaper.net/images/articles/2006/10/26/cultureshock-2.jpg

Town hit with £1.2m writ from Power
Exclusive By Andy Cryer
 

 

SWINDON Town have been hit with a threat of court action after being issued a writ for £1.2million by disgruntled investor Bill Power.

The County Ground outfit have been given until the end of the week to respond with Power, pictured right, at the end of his tether after months of accusations and counter-allegations.

Power's bid to takeover the club, along with the fans consortium, seems dead in the water with Town on the verge of sealing a major investment with a mystery foreign consortium.

But the former QPR chairman is insistent a £1.2million loan' be repaid in full and is prepared to take the case to court.

Town have always stated they believe Power's money was part of a share issue and, with neither party likely to give way, a courtroom battle seems the inevitable outcome.

A Town spokesman said: "We have received some correspondence from Bill Power's lawyers and it is in the hands of our lawyers. There is not a lot else we can say at the moment."

With a £900,000 unpaid Company Voluntary Arrangement hanging over their heads, with the initial payment deadline passed, Town are waiting to hear whether creditors have voted in favour of possibly extending the CVA.

The vote was closed on Monday and an announcement is expected soon from the administrators as to whether a meeting will be called to discuss the extension.

With Conference outfit Crawley the latest to be hit with a points deduction, after failing to meet their CVA, Town will be hoping the promise of some major new investment will win them more time.

It is thought the Portuguese-led consortium are moving closer to finalising the deal at the County Ground, although the club are still keeping the exact details close to their chest.

If I put my hands over my ears, close my eyes and shout la-la-la-la over-and-over again, maybe ... just maybe all this behind-the-scenes trouble will go away.

 :|

Surely though this is just the course of events unfolding that were stated in the press/on the OS a few weeks ago.

The new investors would therefore be aware of the possibility of court action long ago. So I doubt it will be a shock to them or change their position.

Have we seen any proof of an actual take over.....we have only purchased ONE player in the closed season. We are told of a few tan skinned fellows with sunglasses on...(could be greek) that they are here to audit a bankrupt football club with little or no assets....Seton Wills and his merry men have been caught out.
Long live Bill Power and I hope he will support Swindon Athletic FC   :cry:

We can only hope....

twat. long live Bil Power, people need to get over his attempted investment, its gone, wrongly or rightly its gone, he's now attempted to place us in more financial uncertainty (again wrongly or rightly) so if you want him to suceed how can you support stfc, as we'll be in huge trouble?

You've done it now Flash.

Put your tin hat on :D

Thats a bit out of order surely.  If you had put in 1.2 mill would you just be happy leaving it and not getting it back?  I think not.  Hes just doing what any normal person would do.

everytime you make an attempt to comment on these events, you're so far wide of the mark that it's offensive to those who have put hard work into the fan's consortium.

please get a clue before trying to comment and refrain from hurling insults when you don't know what you're talking about. i have no problem with people making constructive criticism or disagreeing with the intentions of bill power but every single time you chuck your oar in without the faintest idea or vaguest grasp on the circumstance(s).

i cant believe people are so willing to trust a man to takeover their club and run it, when he a business man isnt entirely sure whether he gave a loan or bought shares in the club? 1.2million you would surely know?

(hat on)

I've not got a clue, but what I don't understand is this:

If it was for shares (As the club state, but Bill refutes) why don't the new investors just buy his shares?

Or am I just being incredibly dim?

he knows.

the club don't.

i don't quite see how BP wanting to get involved, proving his money is where his mouth is by turning up with a million quid, offering to pay a fair price to take over the club, offering to have a fans rep on the board, before being ignored, marginalised and then robbed by the board makes BP the bad guy in this.

For Flash,

he seems pretty sure what he did, hence the writ.  I tend not to sue people unless I'm fairly sure what I'm suing for.

By your rationale, we are also entrusting the club to a bunch of people who equally can't understand business then, and we are also entrusting them to sell that business.  Doesn't bode well does it.

ps, I base my "trust" in Bill power on information plus having had the chance to meet and chat with all sides.

Because Diamandis says so.

Lucky you.

Most of us have to trawl through loads of bullshit on forums before we  can make an (Un)educated guess as to what the fuck's going on :?

But the information was always there from the relevant party to keep us aware on what was going on................

It would need to be a private deal between Bill and the new guys if that was the case, nothing to do with the club.  Would also be a pointless thing for a new investor to do if they were getting sufficient shares from the other parties already.  The amount of shares the club now claim POwer and Emmell own comes in just under 24% I think, which conveniently makes it a small enough holding that he can't block things such as new share issues, change to company rules etc.  Originally Bob Holt said in public it was 33% or 30% depending on the day he was quoted.

Look here FlashGordon.
Bill Power injected 1.2million pounds to a club that was fucked...needing to pay off King and a CVA payment, now over due . He and Mark Devlin helped turn around "our" football club and what have they got in return....a kick in the guts and fuck all money back. My view is, that they have been done over and if that means Swindon Town needs to close down and start again under a completely  new management and club name so be it..
I would enjoy see Seton Will loose everything he has "loaned"the club. He and his cuntfaced Board have taken the club to new depths...
I am fully behind Power and his actions...shame it was not a couple of months prior.

 :cry:

Either the club or BP have 'forgotten' they have signed over some share documentation. Given my favourite board members excellent skills at such things it wouldn't surprise me in the least if the monies were a loan.

As for the writ - excellent new in my opinion, in the respect that hopefully we'll find out where everything stands. Perhaps it may inspire the new 'investors' to reveal who they are? <doesn't hold breath>

If the deal really is underway/days away they would have had to factor this in, I guess we'll find out if some people are telling porkies.

That's out of order (IMHO) SSW may be culpable in the pantomime that is currently being played out at the CG, but he has also saved the club in the past.

   Quite agree....the phoney war has gone on long enough....hopefully this will bring about the possibility of draining the pus from the suppurating boil that is currently STFC.

How could you even think such a thing??????? :jaw1:

Herthab...

He has sat back and allowed Bill Power to inject 1.2 mill into the club. A year ago after an airplane accident did not contact Power in hospital and then sit on the side lines while "his" board try and diddle Power out of his money.
Wills you are a disgrace.....a gutless wonder who can fuck off....  :fu:

for the masses http://www.dictionary.net/suppurating

Be interesting to see the Trust's stance on the latest news. Perhaps it is just a force of the hand now. I am not going to make any personal comment as I don't know facts like most people however I think either way we will be able to concentrate on football again very shortly.

Is there such a thing as a non-suppurating boil ?

I just did a Google image search on suppurating :chunder:

Sorry, I did respect the Will family, but that respect has now evaporated. They have as you say been culpable.
James Wills, sneers at the fans,  & apparently supports another team.
They said that if they were given their money back they would give the club to the TRUST, the bluff was called, & they wouldn't even sit down & discuss it.
They on several occasions threatened us with walking away, but then refused too.
They've inherited their millions, & in my opinion only see STFC as "Their club" (Toy).
IF as they say they love STFC, why wouldn't they talk to a consortium backed by over 90% of the fans.
IF as they say they love the club, why allow it to be dragged through this crap.
If as they say, they love STFC, why have they sanctioned a deal that has lowered the media profile of the club at a stroke (Brunel Coverage)
I could go on. I'm sorry, but the Wills are the major shreholders.. as such they gave this board the power to run our club into the ground. (And don't forget they also gave Donegan & Blatchley the same power too)

I'm not refuting any of that, as I don't know the facts, only what's been said.

What I do know is that he  has saved the club before and, at that time, was hailed as a saviour.

As to him fucking off, I think he should! What I was disagreeing with was your desire he loses everything.

Bill Power will always be thought highly of by many many Swindon fans. It's fortunate for him that he never got control of the club, as he would eventually be subject to criticism and abuse and people would choose to forget the good things he did, instead focusing all their bile on the negative........

 :goodpost:

  Probably not, although a lanced boil may cease to suppurate and still be defined as a boil.

  Was there such a thing as Roger Boli?

Basil?

 Basile.....Pretentious? Moi

Thre was a Roger Boli - played for Walsall i think

    We had Roger on trail one pre season, just that I can't recall much about it due to not being around.

    We didn't sign him, he went to Walsall and did quite well for a season or two.

http://www.om4ever.com/Joueurs/BoliRangers.jpg
:D

didnt he score one past Manchester United in the FA cup to...

I think the timing of Bill's Move is telling us something here. He's had weeks to consider his approach and strategy so why now?
We know that the Investor/takeover final agreement is probably imminent and that the CVA situation is boiling up nicely.

So what if the Investors were taking a view on the payments to Bill and the CVA? They may have thought they could delay the CVA final payment and pay it out of increased revenue if they created a successful team and season ( or selling talent). They could have thought they could do some sort of a deal with Bill. If the CVA situation is now not going the Board's way and Bill is aware of this what better time for him to drop this into the mix?

The Investors could then see a nearly immediate 2Mill+ hit which would surely take money from the playing budget and perhaps persuade them that the game's not worth the effort.
If they pull out, in jumps Bill with his Saviour's Plan. Bill may consider that this may not work but he has probably judged that striking now may give him the best advantage he can get.

It could of course be that he just wants to make his point to the Investors before it's all signed and sealed... Speculation...speculation..

A good move by Bill, can't blame him the way he's been treated. At least in Court the Truth should come out, for a change.

When this complete bullshit "mystery investor" ruse is finally revealed to be complete bullshit, it'll be a straight choice for Diamandis;
Sell to the FC, or "take the club down with you"

I'm sure I've heard that before somewhere...

does everyone think this investor is rubbish then? maybe im just to naive to believe it is

I believe that there's a mystery investor.

As to who and why....................................


It's a mystery.

There obviously is an investor. Obviously.