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25% => The Boardroom => Topic started by: STFC_Gazzza on Thursday, August 9, 2007, 08:14:03

Title: Current Board to remain, CVA Paid Within A week?
Post by: STFC_Gazzza on Thursday, August 9, 2007, 08:14:03

From the Adver

Quote

SWINDON Town's £900,000 debts should be paid in full within the next few days after the club administrator gave the clearest indication yet new investment is on the verge of being finalised.

Town non-executive director Bob Holt has confirmed he expects the deal to be done by Friday and predicted "brighter times ahead" with significant money being invested.
While unsure as to the exact details of the investment, Holt revealed he expected the agreement to be some sort of power share with the new consortium expected to be the major shareholders.

With the Company Voluntary Arrangement (CVA) bill still hanging over their heads, more than a month past the deadline, fears were growing of potential league punishment, but administrator Andrew Andronikou insists there is light at the end of the tunnel.
Andronikou has revealed creditors have voted in favour of a meeting to discuss extending the CVA deadline, but is hopeful it won't be necessary with a deal almost done with new investors.
He believes the CVA could be paid within the week, which would negate the need for any further creditors meeting.

He said: "The votes are all in and the creditors were strongly in favour of holding a meeting to discuss the best way forward.
"I have to decide over the next few days whether we will have to hold one now though because it looks as though things at the club will be resolved next week."

Holt, speaking from his sailing boat in Ireland, said: "The deal is as imminent as these things can be. The new consortium want to be in charge by the start of the season.

"It is better to spend a bit more time now to make sure the relationship lasts in the future.

"We have to ensure both parties are happy with the deal.
"It has been very frustrating for both parties. Both parties have signed the deal and it is just a case of releasing the deal now."

The Swindon Advertiser exclusively revealed almost five weeks ago that foreign investors were set to plough millions of pounds into the County Ground to save the club from financial ruin.

It was hoped funds from a new consortium would clear the CVA, pay off remaining debts and provide a substantial transfer kitty.
While negotiations have been continuing, fans have been growing increasingly frustrated at the lack of activity and the problem of the CVA but, with a deal almost finalised, Andronikou is hopeful the club can start a new era.

While details of the new investors are still unknown, the consortium will have a Portuguese influence, although it remains unclear whether the deal will be a full takeover or merely a substantial investment.

The news comes a day after disgruntled investor Bill Power served the club with a writ for £1.2million he believes he is owed.
6:52pm Wednesday 8th August 2007

Title: Current Board to remain, CVA Paid Within A week?
Post by: magicroundabout on Thursday, August 9, 2007, 08:39:58

whilst i'm a bit excited as to the new investment i'm quite a bit dissapointed that, that fat greasy cunt will still be here.

Title: Current Board to remain, CVA Paid Within A week?
Post by: STFC_Gazzza on Thursday, August 9, 2007, 08:42:32

hopefully details will become available today, if not tomorrow!

Title: Current Board to remain, CVA Paid Within A week?
Post by: magicroundabout on Thursday, August 9, 2007, 08:45:40

oooooh statement Friday :D

Title: Current Board to remain, CVA Paid Within A week?
Post by: Simon Pieman on Thursday, August 9, 2007, 08:52:09

Speaking from his boat. Hmmm, you must be really up to speed with all this Bob :-))(

I doubt we'll know who holds what shares until the stuff gets submitted to Companies House and we all know that it can still be open debate and conflicting information - for instance the fact that Holt said Bill Power owned 33% of the club when it was actually a combined total of 23% of the Holding Co with Phil Emmel - and this has even been disputed.

Title: Current Board to remain, CVA Paid Within A week?
Post by: Iffy's Onion Bhaji on Thursday, August 9, 2007, 09:37:31

Hmmm that doesn't sound to good in my book. So the CVA will be paid. Great but that sounds very much like Diamond Mike and SSW will be staying at the very least. Not impressed if that is the case.

Title: Current Board to remain, CVA Paid Within A week?
Post by: pauld on Thursday, August 9, 2007, 09:42:59

This is no more substantial than the stuff Andronikou came out with in May when he was saying there was no need to worry about the CVA because he was confident it would be paid due to new investment well before the June 30th deadline; around the same time Bob Holt was claiming they'd be making an announcement on the new investors "within a week" and he's been saying pretty much the same ever since "next 24 hours", "end of the week", "start of next week" etc etc.

The only concrete thing in the whole piece is that Andronikou's trying to use the potential of new investment as an excuse to wriggle out of holding a creditors' meeting. The rest of it's just the usual "confident that", "very soon", "nearly done", ifs, buts and maybes they've been spouting since May.

Title: Current Board to remain, CVA Paid Within A week?
Post by: STFC_Gazzza on Thursday, August 9, 2007, 09:51:12

regardless what happens people will complain, Swindon Town fans are NEVER happy.

Title: Current Board to remain, CVA Paid Within A week?
Post by: pauld on Thursday, August 9, 2007, 09:54:21

Quote from: "STFC_Gazzza"

regardless what happens people will complain, Swindon Town fans are NEVER happy.

Well, yes, when nothing happens, we're fobbed off when we and the local media ask some very serious questions about what's going on, the whole future of the club is in doubt and all we get fed is lies and bullshit, then yes people will complain. :roll:

Title: Current Board to remain, CVA Paid Within A week?
Post by: Fred Elliot on Thursday, August 9, 2007, 09:55:01

Quote from: "STFC_Gazzza"

regardless what happens people will complain, Swindon Town fans are NEVER happy.

and can you fucking blame us ???

Title: Current Board to remain, CVA Paid Within A week?
Post by: Iffy's Onion Bhaji on Thursday, August 9, 2007, 09:57:04

Quote from: "STFC_Gazzza"

regardless what happens people will complain, Swindon Town fans are NEVER happy.

What do you expect Gaz mate? It's hardly a great situation is it? We are all fed up of it now and most of us are sick of being lied to by the board. Why should we be happy?

Title: Current Board to remain, CVA Paid Within A week?
Post by: genf_stfc on Thursday, August 9, 2007, 09:59:45

Quote from: "pauld"

The only concrete thing in the whole piece is that Andronikou's trying to use the potential of new investment as an excuse to wriggle out of holding a creditors' meeting. The rest of it's just the usual "confident that", "very soon", "nearly done", ifs, buts and maybes they've been spouting since May.

a cynic would also say its a way of getting a creditor's meeting cancelled to buy more time, since i presume it would require at least another 2 weeks notice to organise another one, should all this turn out to be crap.. thats a cynic, you understand, not me

Title: Current Board to remain, CVA Paid Within A week?
Post by: pauld on Thursday, August 9, 2007, 09:59:49

Quote from: "Fred Elliot"

Quote from: "STFC_Gazzza"

regardless what happens people will complain, Swindon Town fans are NEVER happy.

and can you fucking blame us ???

Apparently so - sit down, shut up, swallow the bullshit, don't ask any questions, just see the feel-good headlines. And BELIEVE! I've seen American televangelists with more credibility.

Title: Current Board to remain, CVA Paid Within A week?
Post by: STFC_Gazzza on Thursday, August 9, 2007, 09:59:50

I'm not saying about being happy with the current board I am saying being happy with new investment etc, I'm talking in the pre-tense that something DOES happen in the next couple of days. People still will not be happy although if the current board are still involved then I guess that is understandable? How about Bill P try and work with the new investors? :D

Title: Current Board to remain, CVA Paid Within A week?
Post by: pauld on Thursday, August 9, 2007, 10:04:38

Quote from: "STFC_Gazzza"

How about Bill P try and work with the new investors? :D

Gosh, we'd never thought of that and Bill and Phil have made absolutely no effort to get in contact with the new investors over the past several months, to be as usual completely stonewalled. If only we'd thought of that. :roll:

Title: Current Board to remain, CVA Paid Within A week?
Post by: Iffy's Onion Bhaji on Thursday, August 9, 2007, 10:05:02

Quote from: "STFC_Gazzza"

Yes it is. You say that BP will try and work with the investors but it sound very much like SSW and MD will still be around and i have to say that will be very unlikely if this is the case. Don't hold your breath on a deal being sorted by tomorrow either Gaz. We have heard it all before.

Title: Current Board to remain, CVA Paid Within A week?
Post by: STFC_Gazzza on Thursday, August 9, 2007, 10:06:38

Quote from: "pauld"

Quote from: "STFC_Gazzza"

How about Bill P try and work with the new investors? :D

Very funny, I didn't know that they had tried to make contact. I know eveyone has tried to find out what the hell is going on.

Ok in that sense then. To be happy with the new investors etc then, what would make fans happy? Obviously Who they are, money, stadium, CVA etc... but what would make people believe they are here to do good?

Title: Current Board to remain, CVA Paid Within A week?
Post by: Fred Elliot on Thursday, August 9, 2007, 10:08:42

But Gaz...........we dont know what level of investment it is, nor the conditions surrounding it.

We dont know who the investors are

We dont know what their intentions are

We dont know what the redevelopment plans are for continued financial stability through non football revenues

We dont know what the board will be

We dont know what influence the investors will have over the playing side of the club.

That's an awaful lot of fucking "dont know's" to find out before I can say Im happy mate

Title: Current Board to remain, CVA Paid Within A week?
Post by: STFC_Gazzza on Thursday, August 9, 2007, 10:10:46

Quote from: "Fred Elliot"

Well that answers my question! I just want everything to be sorted like all of us. Monday night was what football was all about, if only every game was like that again!

Title: Current Board to remain, CVA Paid Within A week?
Post by: Reg Smeeton on Thursday, August 9, 2007, 10:12:17

Quote from: "STFC_Gazzza"

regardless what happens people will complain, Swindon Town fans are NEVER happy.

Come on Barbie*....Let's go party

We've got the prospect of Diamond Mike and Bowden being in charge of J17 and some shady Portugeezers being in charge of the playing side.

Happy fucking days.

* thats's Klaus Barbie

Title: Current Board to remain, CVA Paid Within A week?
Post by: Ardiles on Thursday, August 9, 2007, 10:16:00

Quote from: "STFC_Gazzza"

I'm not saying about being happy with the current board I am saying being happy with new investment etc, I'm talking in the pre-tense that something DOES happen in the next couple of days. People still will not be happy although if the current board are still involved then I guess that is understandable? How about Bill P try and work with the new investors? :D

Good grief! Come on, Gary...think about it. People are not happy because we're being kept in the dark. By the time we hear of this takeover/investment/agent agreement (take your pick, we don't know either) it will be a fait accompli.

How can you be 'happy' with something you don't know the details of? Unless your horizons are so limited that you can't see past the result of the game on Saturday, how can you be so sure that this deal will not send us down the wrong path?

This deal may well turn out to be good for the club - but I have my doubts. (If the deal is such great news, why the media block out from the board and the 'new investor'? If it's going to be warmly welcomed by the fans, wouldn't you want to let them know about it?)

We're just going to have to wait and see. Everyone should consider their own position when the facts are known, and not before.

Title: Current Board to remain, CVA Paid Within A week?
Post by: Simon Pieman on Thursday, August 9, 2007, 10:43:37

I think what my post was trying to say is that some people will (justifiably?) moan until factual evidence exists of the nature of this investment. Given what happened with Bill Power's investment that could take a very long time.

I think I'll probably have a moan if the deal is muddy. If it looks good on paper then fir enough I probably won't whinge too much, but until the facts are substantiated to a level there will always be a part of me that won't be quite happy with the deal, mainly because keeping the facts from us is the current board's game and I would like that changed.

I'm not going to moan about the investors themselves at this stage, simply because it's the board that have been playing the games in the media.

Title: Current Board to remain, CVA Paid Within A week?
Post by: Phil_S on Thursday, August 9, 2007, 11:01:57

IMHO It would be a good deal if it ticked the following boxes:
Current board, to go & the General Manager too.
Cut ALL ties with Dunwoody. (Not announcements to that effect, but actions that are totally different)
As soon as possible, get wider STFC coverage on the local radio (GWR or BBC)
Linda Birrell to be offered her job back.
New regime to be transparent open & honest with fans, local residents, council, media etc
Fans consultation (MEANINGFUL) at the VERY least, but preferably a representative on the board.
CVA Paid in full plus other debts including Bill P.
A WORKABLE stadium redevlopment IN Swindon.
The means to progress the club both financially & on the pitch.

I don't believe that the new investors would tick many of the above at all, but would be happy to wear sackcloth & ashes if I am proved wrong.

Title: Current Board to remain, CVA Paid Within A week?
Post by: land_of_bo on Thursday, August 9, 2007, 12:01:51

Quote from: "Phil_S"

That's a whole lotta wishful thinking there my friend.

PS - how exactly would one wear ashes? Surely they'd get blown away?

Title: Current Board to remain, CVA Paid Within A week?
Post by: chalkies_shorts on Thursday, August 9, 2007, 12:30:45

So basically, we're going to have Spanish / Portuguese players playing for STFC by J17 with the ground / land will owned Kassam style by Diamond Mike et all.
Seems to me the future is more bollox than you can shake a stick at.

Title: Current Board to remain, CVA Paid Within A week?
Post by: herthab on Thursday, August 9, 2007, 13:02:24

Yeah, it would be great to have fan representation on the board, but how many of the 92 league clubs have such a set up?

If the investment pays of the debt we currently have, we'll be in a better position than we currently are. FACT.

I too would like all the things on phil s' wish list to hapen, but, as a mere supporter, not someone pumping millions into the club, I'll have to let them run the club as they see fit. If it's not the way I want I could wear orange, protest, or send a nasty email or two, but that's about it.

The first thing that needs to be done is the clearing of debt.

Title: Current Board to remain, CVA Paid Within A week?
Post by: Colin Todd on Thursday, August 9, 2007, 13:09:08

Agreed Hertha. To be honest if half of Phil S list gets achieved I would be pretty happy on the basis thats its a whole lot fucking better than what we have have now and have had for the last 5 years. Not perfect, but an improvement.

You have to take the positives from these things because all the moaning in the world is not going to change it.

Title: Current Board to remain, CVA Paid Within A week?
Post by: Power to people on Thursday, August 9, 2007, 13:21:02

Ooooh Gary is back to reasure me everything will be rosy, he does have his ear to the boardroom you know.

If this board told us everything would be ok we have money coming Gary would be totally happy and will probaby have to run to the loo's to do something about it.

Wake up Gary - smell the coffee, stop being the boards lapdog and let them do their own dirty work

Title: Current Board to remain, CVA Paid Within A week?
Post by: herthab on Thursday, August 9, 2007, 13:22:50

Quote from: "Power to people"

Yeah!

And you can continue to be pessimistic, negative and cynical :D

Each to his own....................

Title: Current Board to remain, CVA Paid Within A week?
Post by: Phil_S on Thursday, August 9, 2007, 13:32:51

Quote from: "land_of_bo"

Quote from: "Phil_S"

That's a whole lotta wishful thinking there my friend.

PS - how exactly would one wear ashes? Surely they'd get blown away?

Wishful thinking ? Well yes as it stands now, yes. We'd be lucky to get one of the above from the proposed new takeover/ investment. That's the CVA paid, & THE OTHER DEBTS WOULD BE A BONUS. The point is I believe that the fans consortium ticked ALL of the boxes.
And to be honest that is why I am so anti. I don't think any other senario would give us so much.

Title: Current Board to remain, CVA Paid Within A week?
Post by: Colin Todd on Thursday, August 9, 2007, 13:55:10

but the FC isnt going to happen is it Phil? Therefore you little choice but to sit back and see what happens, at least for the time being

Title: Current Board to remain, CVA Paid Within A week?
Post by: Phil_S on Thursday, August 9, 2007, 14:53:35

I agree it doesn't look like it, but those who ARE in the know, say that the FC are still around & haven't given up.
I am still hanging on to this, hoping against hope that the new investors will either talk to the FC, or will pull out, forcing the board to play ball.
I know, it's a long shot, but it's all I've got.
FFS, I'm so down about it at present anyone would think my life depended upon it. The only match I've been to pre- season was the legends, cos I didn't think that the board would take that money !
For me, D day will be the first home match of the season. Can I still support the only club I have followed for the last 35+ years with the current bunch in charge. ? I don't know at present, but would give them some credit if they went prior to this so that I don't have to tear myself apart.

Title: Current Board to remain, CVA Paid Within A week?
Post by: Bushey Boy on Thursday, August 9, 2007, 14:57:39

Quote from: "Phil_S"

Phil I thought you were about 18, sorry chap!

Title: Current Board to remain, CVA Paid Within A week?
Post by: red macca on Thursday, August 9, 2007, 15:03:09

Im happy the cva is being paid.

Im happy the club is still alive.

Im happy sturrock may have funds.

Im not happy the current board are still here.

Im not happy we had to find out from the adver that power had issued us with a writ.

Title: Current Board to remain, CVA Paid Within A week?
Post by: sonic youth on Thursday, August 9, 2007, 15:19:52

a nod is as good as a wink to a blind horse

Title: Current Board to remain, CVA Paid Within A week?
Post by: STFC_Gazzza on Thursday, August 9, 2007, 16:40:07

Quote from: "Phil_S"

Don't give up supporting your club, Fred Elliott, Macca etc last seson and still are no doubt against the current board but that did not stop them supporting their club. Bill Power, The new investors, the current board are not the club, THE FANS ARE.

Title: Current Board to remain, CVA Paid Within A week?
Post by: Fred Elliot on Thursday, August 9, 2007, 16:45:21

I WILL NEVER EVER EVER STOP SUPPORTING THE TEAM

Title: Current Board to remain, CVA Paid Within A week?
Post by: Arriba on Thursday, August 9, 2007, 16:46:35

aint you fucked off on holiday yet? :wink:

Title: Current Board to remain, CVA Paid Within A week?
Post by: Fred Elliot on Thursday, August 9, 2007, 16:47:46

Was just doing Jenna's packing only to be told that I am incompetent and get away from her suitcase

:?

Title: Current Board to remain, CVA Paid Within A week?
Post by: STFC_Gazzza on Thursday, August 9, 2007, 16:49:45

Quote from: "Fred Elliot"

I WILL NEVER EVER EVER STOP SUPPORTING THE TEAM

I know mate, despite differences of opinion at times last season at the end of it all we are on the same side and everyone who was in the CGH after the Walsall match saw how much EVERYONE cares about this club.

Title: Current Board to remain, CVA Paid Within A week?
Post by: Reg Smeeton on Thursday, August 9, 2007, 16:51:33

Quote from: "STFC_Gazzza"

Quote from: "Phil_S"

People come in and out of supporting for a variety of reasons.....I know I've seen loads lapse down the years .....very often its those who appear to be most passionate, as often thats a replacement for something lacking ....like a bird, or a life.

If by some chance they find what they truly seek, that's them gone.

Might evn happen to you Gazza.

Title: Current Board to remain, CVA Paid Within A week?
Post by: mexico red on Thursday, August 9, 2007, 19:13:06

im off, i ve found child prostitution.

Title: Current Board to remain, CVA Paid Within A week?
Post by: Reg Smeeton on Thursday, August 9, 2007, 19:17:12

Quote from: "mexico red"

im off, i ve found child prostitution.

Is Chris Langham a personal friend?

Title: Current Board to remain, CVA Paid Within A week?
Post by: mexico red on Thursday, August 9, 2007, 19:30:50

never met him i dont do pics.

Title: Current Board to remain, CVA Paid Within A week?
Post by: Simon Pieman on Thursday, August 9, 2007, 20:27:56

Quote from: "STFC_Gazzza"

Quote from: "Fred Elliot"

I WILL NEVER EVER EVER STOP SUPPORTING THE TEAM

Was that the part where everyone was bumming each other in the toilets? That was fun!

Title: Current Board to remain, CVA Paid Within A week?
Post by: Phil_S on Friday, August 10, 2007, 09:39:03

Today, I am a bit more positive, & will be there as usual, but ready to voice my concerns & join any protests

I am happy that the CVA may be paid. (It would have been with the FC).
I am happy the club are in Div ! (only a division lower than we were then)
I am not happy we have a previously disqualified director still running our club.
I am not happy that some portugese guys are looking to make a bunch of money out of our club
I am not happy that the board at STFC are even less open, transparent & honest than they were 12 months ago.
I am not happy that the people who run our club, hate the clubs supporters.