Thetownend.com

Must be good news

http://www.swindontownfc.co.uk/page/NewsDetail/0,,10341~2847460,00.html

They've certainly not been shy to get out the cheque book and long may it continue. We'd be right up shit street if they didn't

The fact they have committed another £2M is good, but the fact they are looking for further investors always rings slight panic.

How I'd read it is that the current level of investment isn't sustainable. Which if correct isn't a surprise but is a slight long term concern.

Equally what it could mean is they simply need more cash to sustain championship football if it is ever achieved.

Or one of the current investors is pulling out sometime soonish.

Or, or...

Actually I don't have a clue. Only that it could be good or bad :)

Think this is a possibility. Wouldn't be one of the people that actively involved in the day-to-day running of the club though and so shouldn't be a cause of great concern as long as his investment is then covered by the other board members or an outside source.

They said from day one they'd be looking at further investment as time goes by, particularly for stadium investment.

Stop your panicking, it's all part of the plan.

Perhaps arbib is jacking it in.
We hear more of backhouse , never heard much of him until recently

As the club as a whole grows so must the investment/investors.  Not many clubs gain promotion without extra investment and I guess it's when sides fail to deliver after a couple of seasons that investors start to question where their cash is going.

Not sure I like the fact that they've made the amount public, would prefer this to have been kept quiet.  Once clubs know we have some additional cash to splash, inflation kicks in and it's likely that we'll end up paying over the odds. 

Yep, they'll want a million for constable now.

Who incidentally was back page news in the local rag today. It was supposed to be big news as well.

All it was, was Gene Wilder put his arm round him and told him he was the main man :D

I think the default position with stuff like this is to panic....there seems to be a fair bit of spin happening at the moment. Let's hope our scepticism proves groundless ( maybe I should have phrasd that differently)

I read it as they wanted more investors for the redevelopment.

Thats exactly what it says. They've pumped in the extra 2 mill to get promotion.

This is so we can pay Harry Kewell's wages. ;)

Well I never thought I'd live to see the day when the words 'Swindon Town' and '£2million pound investment' were used in the same sentence. Now that I have, I'm absolutely fucked if I'm going to put a negative spin on it.

Happy days  :beers: :clap:

Yeah somewhere a wormhole opened up and we're in a reverse reality. I'll wake up in the morning be 6 foot 2 and sober.

Seems like they're really going for it.

The money has already been spent

So is this the Board plugging the gap in the finances caused by last season?

Yes presumably this is the money that persuaded PDC the vision is good and to bring in our 7 new players?

I took it that the extra £2m was for paolo to enhance the squad, rather than to nip down to fast plant and Jewsons to place orders for next spring to start work on the new town end stand.

That said, in some ways you'd have thought that they would keep the fact that they have this amount of player budget tucked under the mattress to spend when needed, that or the extra money was for both player budget and ground redevelopment.

I'm sticking with the playing budget. The reason being is that they NEED us to get into the championship to justify and support the cost of the higher division. Let's be honest with each other here. We go up again and I really think we will looking at the division, especially now that Pompey have been deducted 10 points before a ball is kicked in anger. We are are going need every seat of every game covered with someone's arse. At 15k capacity we will be up against clubs with 20, 30 and 40k capacities and fan bases that will cover every seat with an arse in their grounds.

Let us not be negative though, as when the new consortium took over you'd all give your right arm to be where we are now. I just hope we get the extra crowds in through the door this time next season when we are in the championship.

Last thought though, I wonder if Fitton is the one who is bailing out? Assuming anyone is as I seem to remember seeing and or hearing that when he stepped down that he was looking to wind down his involvement in more than an admin way.

Help me understand something...

If this 2 mil is coming from sources already within the club (the board), which appears to be the case, why the need for this 'injection'. Why not just set a budget and underwrite it (if that's the right term?) at the end of the season?

It sounds a lot more complicated because doesn't it mention "capital restructuring" ? Presumably that means new shares?

Well I have no idea, but perhaps a specific board member is inputting more in return for equity from one or more of the others. 

Its all guesswork isn't it. My brain certainly rebels when positive things happen, it can't accept it.

Ground Redevelopment and reinvestment news?

Luke McCormick's getting a two year contract isn't he ;)

My ST 5 quid card fee is being put to good use!

If it's the playing budget they may have to disclose it anyway to get round the wage cap if it's a donation? So may as well use a statement to make if official as they have to disclose it anyway?

Stabbing in the dark to be honest.

That would make sense (I think)

Maybe one of them is sticking their hand deeper in their pocket and wants a bigger share of the goodies in return?

Has anyone had the shareholder letter today? If so, could someone explain if the whole sub-division of the shares means you need to pay more into the club to attend the AGM and vote in future? or does it litteraly mean my £100 is now worth £1 and that is all?

Maybe it's just precautionary......

Get the wonga now just incase the investor(s) die/go bankrupt/change their mind, leaving the club/holding company with a large bill to pay?

Anyone remember a couple of games before the end of the season there was an obituary of a chap that lived in the wantage area? Not your standard 3 lines either, it was a whole page spread.

 Rumour has it he was minted and left everything to the club.

He was minted yes, has he left it to the club??

It's nothing more than a notice to shareholders re: the calling of the meeting.

The fact £2million is mentioned is nothing more than the board being entirely transparent, just as they did with the last rights issue.

Do we have any other minted fans that could meet with a *cough* accident? *cough*

That was a rumour i heard. Found it very odd he had a full page spread, and there was a comment from watkins that made my head tick after i read it

Do we have to guess or are you just going to tell us?

Sorry to be pedantic but technically that should be an "an" before cough, not an "a" because coughing isn't speech, so it would pass over to the next word. I appreciate your feedback.  :toocool:

Ill have to dig the programme out, its in my garage and its pissing down with rain. Ill have a look tomorrpw

Shove it up your Jap's eye

I believe the name was Nigel Eady that was linked to the story that I got told. Apparently a very nice chap by all accounts. I got told that a stand was going to be named after him due to the amount of money he left the club. I did not know whether to believe the story or not. Sounds like others have heard the same as me.

?  

http://www.thehanneys.org.uk/hanney-news/nigel-eady.aspx

Was a member of the supporters club as well.

http://www.swindontownsupportersclub.com/25.html (Scroll down)

If there is a God Mr. Eady, may he rest your soul.

This is what i heard.

Haha my dad won in 09/10

Fucker never told me!

2 million...is that it???  :D ....great news though!!!

Might be oxfords chairman pumping the money into us.

He's just quit :D

How the fook.do they do it?!
 
http://yellowsforum.proboards.com/index.cgi?board=fldiscussion&action=display&thread=10179

yellows? more like green amirite

I love their optimistic "It's all going to end in tears!" approach.

I suppose it's all they've got?

It must be hard for them to accept that we are better then them.  :D

We arent though are we, they beat us twice remember ;)

Oh shit of course I'd forgotten about that, what with winning the title and our cup run and our trip to wembley.  :D

It just gives you a warm glowing feeling and smile on your face when the only hope the pox have is that we might go bust, the big point they are missing is who the money is coming from and what level of debt is there to the HMRC because they normally are the things that take clubs under. Borrowing from banks and other large organizations versus a small group of Individual investors and keeping on top of HMRC payments. As long as the vast majority of any debt is owned by the investors they are hardly going to throw the club into admin and pay themselves back 10p in the pound but I guess it gives the yellow filth something to cling onto as they dissolve back into 4th division obscurity  :smugfu:

Edited for you  ;)

Be honest here, guys.

Who on here can say they have never entertained the possibility of our current 'project' going tits up in the future?

As for our yellow friends - they seem to like wearing hair shirts and hoping to be a sustainable basement club.

And they're struggling to be that!

Luvverly jubbly

Heres the quote Flasheart. The obituary is a whole page spread, and goes into his life etc, but this quote got me...


Your normal run of the mill fan wouldnt get that kind of coverage, i dont think even Iris did when she passed away?

No mainly for the reasons I mentioned earlier the money invested is from individuals any return on investment will be from the improved CG so as long they keep paying the HMRC bills they are only going to hurt themselves if they go into admin. The same could be said about any of the clubs what if Roman pulls out of Chelsea, the arabs out of Man City the list goes on at least our guys are trying to make us a self sufficient established Championship team if anything the apathy of Swindon/Wiltshire residents is the biggest risk to the whole project if they don't come then everything will be scaled back.

Have you seen the latest comments on there?

Didcotox obviously knows much more about us than all of us put together....

Thats about right the 3 million. The first XI all were on 6k a week.

the rest were paid in burgers and curry.

To be fair I could see our wage bill being 3 million. If we had a squad of 16 that is roughly around £3500 per week on average per player.

The wage bill is the whole club is it not and I thought that 3 million spend included paying off Wilson and Hart. Last season must have been close to breaking even with Promotion, bigger attendances and a Wembley trip we will have to wait and see the when the figures are released.

I think the filth should be worrying about their own greenhouse before slinging rocks at ours  :clap:

http://yellowsforum.proboards.com/index.cgi?board=oufcmanagement&action=display&thread=10184 :girlgiggle:

In fairness, there are some pretty sensible posts on there...

http://yellowsforum.proboards.com/index.cgi?board=fldiscussion&action=display&thread=10179

for anyone who's not read it.

Haha theres a golden one on there now.

Disgusting club apparently.

Pretty much the same on the Creepy forum too, some wierd and ironic comments considering their "hidden investment" of last season and the previous one.

And some pretty dense ones to even it all out

It's laughable.

'Mysterious money men'...all named in the annual FourFourTwo rich list.

Despite relegation,our turnover would've gone up due to the match day ticket price rise, some decent cup runs for a change including a day out at Wembley. Didn't Nick Watkins say before the start of the last season the wage bill was reduced by £500k. I know a few more players were signed but I believe the wage bill was in credit compared to the previous season.

Also, sides forget that we never spent the money we got from Burnley for Austin, circa £1m.

And I believe there is a rule on capital investment, in ground/players.

And for us to be accused by Creepy, who seem to blantantly lie about their crowds towards the end of the season...well, pot, kettle, black.

All in all...fuck them.

I think an Oxford fan within one of those links was right when they said that none of them would be discussing it if the news didn't involve Swindon Town.

Town's Board are backing the club they own and it seems to be confusing the hell out of supporters who don't like Swindon.