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25% => The Boardroom => Topic started by: jayohaitchenn on Wednesday, August 3, 2016, 16:27:50



Title: Lee Power siphoning off funds
Post by: jayohaitchenn on Wednesday, August 3, 2016, 16:27:50
http://www.totalswindon.com/sport/exclusive-martin-ling-speaks-to-total-sport-about-stfc-exit/#.V6IbCzW8ySM

Quote
"Lee Power was absolutely first class, even to the level where I worked for Lee for two months but Lee paid me till the end of June this year. 

"After I had left and told him the decision, I didn't expect nothing more than that, I'd done my two months and had been paid for the two months, Lee came down to London met up with me and told me of his decision. I was flabbergasted because it doesn't often happen in football.

"I will always hold him in massively high regard for that gesture of generosity and human kindness. He saw what I was going through and he knew I didn't want to leave. By him making that decision that puts him in such high esteem, for me," Ling added.

Lee Power paid Ling up till June this year. Bloody asset stripper!


Title: Re: Lee Power siphoning off funds
Post by: JayBox325 on Wednesday, August 3, 2016, 16:30:28
http://www.totalswindon.com/sport/exclusive-martin-ling-speaks-to-total-sport-about-stfc-exit/#.V6IbCzW8ySM

Lee Power paid Ling up till June this year. Bloody asset stripper!

Today could be quite a day. If Quagmire's 'signings' are true and it turns out he's paid Lingy up until June this year... fair play to the bloke.

 :clap:


Title: Re: Lee Power siphoning off funds
Post by: sonicyouth on Wednesday, August 3, 2016, 16:31:08
What an absolute prick!


Title: Re: Lee Power siphoning off funds
Post by: Flashheart on Wednesday, August 3, 2016, 16:33:14
Using club finds to pay non-staff members? Fucking asset stripper.


Title: Re: Lee Power siphoning off funds
Post by: theakston2k on Wednesday, August 3, 2016, 16:36:38
I remember some claiming Ling quit because of Power, amazing how the reality seems very different to a lot of the constant negativity.....


Title: Re: Lee Power siphoning off funds
Post by: Ells on Wednesday, August 3, 2016, 16:37:39
Yeah, but what about the fees for Duncan Shearer?


Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Wednesday, August 3, 2016, 16:46:43
Wont somebody think of the Adver?


Title: Re: Lee Power siphoning off funds
Post by: suttonred on Wednesday, August 3, 2016, 17:14:30
Fair play to Power, that will have taken a lot of worry off Lingy's hands whilst he got better.


Title: Re: Lee Power siphoning off funds
Post by: Kinky Tom on Wednesday, August 3, 2016, 17:22:23
So Ling is commentating on BBC London for the QPR game, would be nice if we can give him some sort of reception.


Title: Re: Lee Power siphoning off funds
Post by: Bob's Orange on Wednesday, August 3, 2016, 17:36:07
So Ling is commentating on BBC London for the QPR game, would be nice if we can give him some sort of reception.

Won't BBC London be providing that?


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Wednesday, August 3, 2016, 17:37:09
http://www.totalswindon.com/sport/exclusive-martin-ling-speaks-to-total-sport-about-stfc-exit/#.V6IbCzW8ySM

Lee Power paid Ling up till June this year. Bloody asset stripper!

That's not asset stripping....money laundering maybe.


Title: Re: Lee Power siphoning off funds
Post by: Kinky Tom on Wednesday, August 3, 2016, 17:40:02
Won't BBC London be providing that?

Wonderful


Title: Re: Lee Power siphoning off funds
Post by: FreddySTFC! on Wednesday, August 3, 2016, 18:09:39
http://www.totalswindon.com/sport/exclusive-martin-ling-speaks-to-total-sport-about-stfc-exit/#.V6IbCzW8ySM

Lee Power paid Ling up till June this year. Bloody asset stripper!
What a fucking waste of money. That could have been used for players wages. & people wonder why we're in the shit?


Title: Re: Lee Power siphoning off funds
Post by: Batch on Wednesday, August 3, 2016, 18:18:38
zzz. Yes its good to read Power has some decency in him. Fair play.

But this is about Ling, who I confess was 'out of sight, out of mind'. Just goes to show that removing the trigger (STFC) wasn't a quick fix for him. Good luck to him, good that he's remaining in football at some capacity too.


Title: Re: Lee Power siphoning off funds
Post by: leftside on Wednesday, August 3, 2016, 19:33:28
Ling should be made to fill the training ground sink hole!


Title: Re: Lee Power siphoning off funds
Post by: jayohaitchenn on Wednesday, August 3, 2016, 20:04:31
Ling should be made to fill the training ground sink hole!

With his tears


Title: Re: Lee Power siphoning off funds
Post by: lambourn red on Sunday, October 30, 2016, 10:40:03
http://www.swindonadvertiser.co.uk/sport/14831800.Is_Lee_Power_set_to_invest_in_Irish_club_/

Apologes if someone has already mentioned this I could not see any mentions. Not quite sure why he wants to get involved in another club when he has much to fix at his current one .


Title: Re: Lee Power siphoning off funds
Post by: The Grim Reaper on Sunday, October 30, 2016, 11:05:39
Maybe he's had enough here hopefully. Personally I think he's just using the income from this club to fund his purchase of another. Not good.


Title: Re: Lee Power siphoning off funds
Post by: ronnie21 on Sunday, October 30, 2016, 11:09:14
Maybe he's had enough here hopefully
Hope you are wrong as it would be extremely bad news for our club, unless he has a buyer lined up!


Title: Re: Lee Power siphoning off funds
Post by: Flashheart on Sunday, October 30, 2016, 11:28:13
I want him to stay on, make his model work and get us into the championship.


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Sunday, October 30, 2016, 11:30:05
 I think we need to hold fire on this, until we get something a bit more concrete.


Title: Re: Lee Power siphoning off funds
Post by: REDBUCK on Sunday, October 30, 2016, 11:34:06
Why would anyone do that Reg?, Power is evil don't forget


Title: Re: Lee Power siphoning off funds
Post by: sonicyouth on Sunday, October 30, 2016, 11:35:09
It is literally unheard of for someone to own more than one sporting business at any time.

Oh.

Wait.


Title: Re: Lee Power siphoning off funds
Post by: Bob's Orange on Sunday, October 30, 2016, 11:40:03
'Fans' are singing about wanting Power out.

Maybe he's going to fuck off and give them their wishes. Only then will we see where the club goes without him, where is the queue of people to buy us?

I watched Blackburn v Wolves last night, both have wealthy owners and yet Blackburn fans want them out. Wealthy foreign owners does not equal success all the time, for every Bournemouth there is a Blackburn. I think we need to be very careful what we wish for.


Title: Re: Lee Power siphoning off funds
Post by: THE FLASH on Sunday, October 30, 2016, 12:04:17
'Fans' are singing about wanting Power out.

Maybe he's going to fuck off and give them their wishes. Only then will we see where the club goes without him, where is the queue of people to buy us?

I watched Blackburn v Wolves last night, both have wealthy owners and yet Blackburn fans want them out. Wealthy foreign owners does not equal success all the time, for every Bournemouth there is a Blackburn. I think we need to be very careful what we wish for.

As soon as he laid his stall out I was all meh.

The new Crewe....I thought. But not overly pissed off... Lucky to get promotion but shouldnt struggle too much.

Trouble is...the model is now failing...and so is the team....

Knives are out.

I can't see Power changing the model...so takeover is the only light.

But you are right...where is the queue waiting to take us over!?

It's all dark...


Title: Re: Lee Power siphoning off funds
Post by: chalkies_shorts on Sunday, October 30, 2016, 12:39:43
Fuck knows what this means if anything. The vast majority of fans don't have a fucking clue whether to trust power or not and the majority of those don't give a fuck either. Im on the fence. Whilst my natural inclination is to distrust he could have cashed in even more with fods beeks and kasim. When things are going shit on the pitch he's got to expect he will come under greater scrutiny and this will fuel the fire.


Title: Re: Lee Power siphoning off funds
Post by: Whits on Sunday, October 30, 2016, 12:43:06
Finally we have a feeder club!!


Title: Re: Lee Power siphoning off funds
Post by: Flashheart on Sunday, October 30, 2016, 12:53:55
If Power did sell, and to an owner that really is all the things that Power's accused of being, Power will be blamed for that as well.


Title: Re: Lee Power siphoning off funds
Post by: FreddySTFC! on Sunday, October 30, 2016, 12:56:13
If Power did sell, and to an owner that really is all the things that Power's accused of being, Power will be blamed for that as well.
I don't see a major issue with that. He needed to have an exit strategy under the guidelines of the farce that is the fit & proper persons test! It was my only gripe with Black - the fact that his exit strategy sucked!!


Title: Re: Lee Power siphoning off funds
Post by: Outletred on Sunday, October 30, 2016, 14:36:25
Problem is Power does not even have to file full accounts so we don't know.

Biggest issue is with transparency- there is no one else involved on the board to hold him to any sort of account- he has openly said that he is not interested in any other sort of outside investment coming in- if someone was out there then why is this?

You only have to look at his past business dealings to know his track record.

Someone needs to scrutinise pur financial position properly using our gate and other revenue against projected outgoings. If we are breaking even as stated then this would go for us in any sale.

Would hope the trust are into this-10 years ago they would've been all over it


Title: Re: Lee Power siphoning off funds
Post by: theakston2k on Sunday, October 30, 2016, 16:10:09
Problem is Power does not even have to file full accounts so we don't know.

Biggest issue is with transparency- there is no one else involved on the board to hold him to any sort of account- he has openly said that he is not interested in any other sort of outside investment coming in- if someone was out there then why is this?

You only have to look at his past business dealings to know his track record.

Someone needs to scrutinise pur financial position properly using our gate and other revenue against projected outgoings. If we are breaking even as stated then this would go for us in any sale.

Would hope the trust are into this-10 years ago they would've been all over it
It was Fitton and co who put us in the position of not needing the full accounts by the way, they did a share issue that basically elimated people's shareholding of the club.
Your full of all the moaning and accusations so why don't you do the work and go to the effort yourself? That's the problem with the majority of people making the accusations, you all moan and say stuff on social media but leave it to others to actually do the work! If things are as obvious as you make out you should have no problem gathering information.


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Sunday, October 30, 2016, 16:24:17
It was Fitton and co who put us in the position of not needing the full accounts by the way, they did a share issue that basically elimated people's shareholding of the club.
Your full of all the moaning and accusations so why don't you do the work and go to the effort yourself? That's the problem with the majority of people making the accusations, you all moan and say stuff on social media but leave it to others to actually do the work! If things are as obvious as you make out you should have no problem gathering information.

You're right that Power is just the end of the line, which started in the 80's, whereby the club has increasingly distanced itself from the fan base.  He's just finished the job.  We now have the situation whereby most of the players are effectively playing for themselves, their agents and the owner, rather than the fans of the club. 

You could argue that it was ever thus, players are just mercenaries, owners just in it for themselves, agents....parasites. 

But it's a bit like the old Rantner admission that his jewellery shops sold cheap tat, once the cat is out of the bag your business is fucked.

I think many Town fans now realise that what they watch as something that is meant to represent their pride and passion in the club and its history.....just isn't. 



Title: Re: Lee Power siphoning off funds
Post by: Batch on Sunday, October 30, 2016, 16:25:20
Not sure how you'd go about investigating the clubs finances in the current circumstances to be honest. Its a bit of a worry about who is owed what and under what terms. Or it would be if he left anyway.

The truth will out eventually, good or bad. Always does.


Title: Re: Lee Power siphoning off funds
Post by: theakston2k on Sunday, October 30, 2016, 16:33:49
Not sure how you'd go about investigating the clubs finances in the current circumstances to be honest. Its a bit of a worry about who is owed what and under what terms. Or it would be if he left anyway.

The truth will out eventually, good or bad. Always does.
I'm just tired of the same old shit and accusations being made by the same people with no evidence to back it up. They post what they are accusing as 'fact' so where's the evidence to back it up?

We've had 2 or 3 years of these accusations now but nothing has come to light that has even remotely supported the claims. If you think something really is shady then get off your arse and do something, instead they all expect others to do something such as the Trust and moan about them when they don't. It was the same under Diamandis, it was a lot more clear cut then with lots of people moaning but the majority did nothing and didn't even join protests. Apathy reigns supreme at Town!


Title: Re: Lee Power siphoning off funds
Post by: ronnie21 on Sunday, October 30, 2016, 16:56:37
I'm just tired of the same old shit and accusations being made by the same people with no evidence to back it up. They post what they are accusing as 'fact' so where's the evidence to back it up?

We've had 2 or 3 years of these accusations now but nothing has come to light that has even remotely supported the claims. If you think something really is shady then get off your arse and do something, instead they all expect others to do something such as the Trust and moan about them when they don't. It was the same under Diamandis, it was a lot more clear cut then with lots of people moaning but the majority did nothing and didn't even join protests. Apathy reigns supreme at Town!
Good post!


Title: Re: Lee Power siphoning off funds
Post by: suttonred on Sunday, October 30, 2016, 17:01:46
I'm just tired of the same old shit and accusations being made by the same people with no evidence to back it up. They post what they are accusing as 'fact' so where's the evidence to back it up?

We've had 2 or 3 years of these accusations now but nothing has come to light that has even remotely supported the claims. If you think something really is shady then get off your arse and do something, instead they all expect others to do something such as the Trust and moan about them when they don't. It was the same under Diamandis, it was a lot more clear cut then with lots of people moaning but the majority did nothing and didn't even join protests. Apathy reigns supreme at Town!

Exactly This is why i get angsty with these one line posters who spout the same old shit. Yeah I know it's not rosy, but boy have we some fuck witted fans/posters/trolls, who can't see past their own usually ill founded accusations. I'd cut their fingers off so they couldn't type tbh. Be worth a few months picking up soap bars.


Title: Re: Lee Power siphoning off funds
Post by: corner on Sunday, October 30, 2016, 17:30:00
Exactly This is why i get angsty with these one line posters who spout the same old shit. Yeah I know it's not rosy, but boy have we some fuck witted fans/posters/trolls, who can't see past their own usually ill founded accusations. I'd cut their fingers off so they couldn't type tbh. Be worth a few months picking up soap bars.
Twitter is full of Middle aged keyboard warriors, it's really starting to piss me off, as you said we all know things arnt great atm, but please show me a better option, I want power to prove the doubters wrong!!!
 coyr stfc
 


Title: Re: Lee Power siphoning off funds
Post by: theakston2k on Sunday, October 30, 2016, 17:34:05
Twitter is full of Middle aged keyboard warriors, it's really starting to piss me off, as you said we all know things arnt great atm, but please show me a better option, I want power to prove the doubters wrong!!!
 coyr stfc
 
And then to top it off their only comeback is to label you a 'happy clapper' the moment you ask for any evidence.


Title: Re: Lee Power siphoning off funds
Post by: Outletred on Sunday, October 30, 2016, 17:47:44
Anything at the moment is very difficult to prove anyway due to the lack of transparency. When was the last time an AGM was held or anything scrutinised? The only person who's has really challenged him was Craig on the last Power hour in April- he has not done one since.

Like him or not Power has done himself no favours whatsoever with the fan base, media the list goes on. The whole fiasco with the Rovers game summed up his PR skills.

If he does end up taking on another club serious questions must be asked- he should focus on us first and sorting out the current mess.

What will it take for you lot to wake up.





Title: Re: Lee Power siphoning off funds
Post by: Flashheart on Sunday, October 30, 2016, 18:02:04
What will it take for you lot to wake up.


This kind of comment sums a lot of it up.

How the flying fuck do get such an attitude when you even admit yourself you can't provide evidence for your ramblings? Not much of a thinker, are you Bart?


Title: Re: Lee Power siphoning off funds
Post by: pauld on Sunday, October 30, 2016, 18:31:02
What will it take for you lot to wake up.
1) reasoned argument
2) Some facts to back up your assertions
FWIW, I share some of your misgivings and am quite wary of Power, but stuff like this isn't going to win anyone over is it?


Title: Re: Lee Power siphoning off funds
Post by: Posh Red on Sunday, October 30, 2016, 18:41:16
Apart from the ramblings of a lost soul, Williams made a comment yesterday after the game about the budget when he joined the club by saying it was that of a team in the middle of the championship.

Assuming that was correct it's hardly surprising that we are weaker (squad wise) now than we were then.

I keep hearing that Power is taking money out of the club, followed by the complaints that we wasted money on Norris (which to be fair looks true at the moment). Add to that the fact that we bought Vigs and Goddard as well as signing Sendles-White, Murray & Delefounso.

Have to say I'm wary of Power's motives but there doesn't appear to be anything that suggests he's getting rich from owning the club


Title: Re: Lee Power siphoning off funds
Post by: theakston2k on Sunday, October 30, 2016, 18:52:50
Anything at the moment is very difficult to prove anyway due to the lack of transparency. When was the last time an AGM was held or anything scrutinised? The only person who's has really challenged him was Craig on the last Power hour in April- he has not done one since.

Like him or not Power has done himself no favours whatsoever with the fan base, media the list goes on. The whole fiasco with the Rovers game summed up his PR skills.

If he does end up taking on another club serious questions must be asked- he should focus on us first and sorting out the current mess.

What will it take for you lot to wake up.




Any evidence of what you are saying? No? Same old same old. When you've got off your arse and found some evidence I might listen to you.


Title: Re: Lee Power siphoning off funds
Post by: Batch on Sunday, October 30, 2016, 18:59:55
Have to say I'm wary of Power's motives but there doesn't appear to be anything that suggests he's getting rich from owning the club

Its one of the things you can never prove one way or another. He could have lent us £3M,at 25% and is paying only the interest back, nice earner. He could easily not have. Which I guess comes to the point of speculation and accusations being pointless.
---
With regards to your first point, I thought we were at break even at 2014. I guess revenues may have fallen now, but that's what he said in 2014. That being the case its not surprising people are a little surprised at the perceived cost reductions.

    http://totalswindonsport.com/2014/11/latest-news-246/

But as you point out, we have invested so it may very well just be a perceived cost reduction. Though personally  I find it hard to believe we've paid anywhere near £150K for Norris and £400K for Vigs as a flat fee, more likely appearance/performance clauses will take it up to that. Just an opinion like.


Title: Re: Lee Power siphoning off funds
Post by: Sippo on Sunday, October 30, 2016, 19:00:01
I really don't understand how people think power is the bad guy. I genuinely don't.

People claiming he bought shit players on purpose. Seriously. He saved the club, and cleared the debt. He has a model that he works off, which currently isn't working, but it has done in the past. Williams was a poor decision, but What other managers are out there currently?

I am a bit miffed by it all to be perfectly honest. It's all a bit meh to me.


Title: Lee Power siphoning off funds
Post by: Batch on Sunday, October 30, 2016, 19:02:03
Quote
He saved the club, and cleared the debt.
Hold on a minute, he put money in and paid off creditors (good), but that doesn't mean the club is debt free.


Title: Re: Lee Power siphoning off funds
Post by: magicroundaboutred on Sunday, October 30, 2016, 19:05:25
You say Power has cleared debt, have you proof of that.


Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Sunday, October 30, 2016, 19:11:46
Its one of the things you can never prove one way or another. He could have lent us £3M,at 25% and is paying only the interest back, nice earner. He could easily not have. Which I guess comes to the point of speculation and accusations being pointless.
---
With regards to your first point, I thought we were at break even at 2014. I guess revenues may have fallen now, but that's what he said in 2014. That being the case its not surprising people are a little surprised at the perceived cost reductions.

    http://totalswindonsport.com/2014/11/latest-news-246/

But as you point out, we have invested so it may very well just be a perceived cost reduction. Though personally  I find it hard to believe we've paid anywhere near £150K for Norris and £400K for Vigs as a flat fee, more likely appearance/performance clauses will take it up to that. Just an opinion like.
If we signed Norris with a performance clause, perhaps Gillingham owe us money!

As regards Power, my personal gripe is that his stewardship has eroded my interest in my club. I used to be an avid home/away fan - now I can hardly be arsed to go to home games. Maybe it's an age thing.

Strangely, what would rekindle my passion is if we did go tits up and had to start over.


Title: Re: Lee Power siphoning off funds
Post by: Sippo on Sunday, October 30, 2016, 19:25:11
Hold on a minute, he put money in and paid off creditors (good), but that doesn't mean the club is debt free.

Ok. He put a lot of money in when we were in dire circumstances.


Title: Re: Lee Power siphoning off funds
Post by: Posh Red on Sunday, October 30, 2016, 19:27:21
Strangely, what would rekindle my passion is if we did go tits up and had to start over.

I'm not sure that we would, much of our fanbase seems too passive to get off their arses to start a new club


Title: Re: Lee Power siphoning off funds
Post by: corner on Sunday, October 30, 2016, 19:41:15
I'm not sure that we would, much of our fanbase seems too passive to get off their arses to start a new club
Yes, I feel most of the population of swindon has the can't be bothered not my problem can't aff it attitude


Title: Re: Lee Power siphoning off funds
Post by: Sippo on Sunday, October 30, 2016, 19:42:36
The dwindling figures on here show that stfc is the least of most interests. A lot have lost the passion way before power took over.


Title: Re: Lee Power siphoning off funds
Post by: suttonred on Sunday, October 30, 2016, 19:50:33
You say Power has cleared debt, have you proof of that.

You got proof he hasn't? All i can say is we haven't been dragged into court, turned up on TV, or multiple stories across the web every other week for at least 18 months. That hasn't happened for 15 years bar Blacks dalliance, so someone has sorted stuff out. Wonder who that could be?


Title: Re: Lee Power siphoning off funds
Post by: magicroundaboutred on Sunday, October 30, 2016, 19:57:17
Then show us the accounts.


Title: Re: Lee Power siphoning off funds
Post by: suttonred on Sunday, October 30, 2016, 20:00:13
Then show us the accounts.

I can't i don't have them. Do you? Maybe you have, if you are that confident. I look forward to you posting them.


Title: Re: Lee Power siphoning off funds
Post by: Ells on Sunday, October 30, 2016, 20:01:18
Ironically I don't recall many clamouring to see the accounts when Black was here.


Title: Re: Lee Power siphoning off funds
Post by: suttonred on Sunday, October 30, 2016, 20:02:43
Ironically I don't recall many clamouring to see the accounts when Black was here.

Yep none of them will phone in when Power is on either. You'd think they'd be clamouring to ask him direct. But no, they randomly ask people on forums.


Title: Re: Lee Power siphoning off funds
Post by: chalkies_shorts on Sunday, October 30, 2016, 20:06:25
Ironically I don't recall many clamouring to see the accounts when Black was here.

The problem is nor did black for quite a while


Title: Re: Lee Power siphoning off funds
Post by: magicroundaboutred on Sunday, October 30, 2016, 20:06:42
It a 2 way argument in  which neither of us can prove without accounts.


Title: Re: Lee Power siphoning off funds
Post by: Ells on Sunday, October 30, 2016, 20:15:07
It a 2 way argument in  which neither of us can prove without accounts.

I don't see why there should be a burden of proof on something NOT happening. Particularly when said event is libellous.


Title: Re: Lee Power siphoning off funds
Post by: magicroundaboutred on Sunday, October 30, 2016, 20:19:18
Is it libellous to see published accounts as to what debt we have, i think not.


Title: Re: Lee Power siphoning off funds
Post by: Ells on Sunday, October 30, 2016, 20:30:09
No but you can't accuse people of theft with no proof, which is essentially what most of these accusations are.


Title: Re: Lee Power siphoning off funds
Post by: magicroundaboutred on Sunday, October 30, 2016, 20:36:28
No one is disputing he saved the club, people just want more transparency.


Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Sunday, October 30, 2016, 20:44:11
If Power wants to pocket every penny that comes into the club he can - it's not theft.

It's called being a cunt, a  chancer, a loathsome spotted reptile. When a club is shit on the pitch it's usually the manager who gets the grief.

But because Power is so closely involved with recruitment and how we play he gets grief as well.

It's what fans do - no matter what club it is.


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Sunday, October 30, 2016, 20:50:50
 What people want is to see something decent on the pitch....at the moment we're subjected to too many performances which would be barely acceptable at non league level.  Now we know we've had injuries, but it wasn't a whole lot better before they happened.

Power as hands on owner is always going to get it in the neck, as he's seen as responsible for the playing product.


Title: Re: Lee Power siphoning off funds
Post by: ronnie21 on Sunday, October 30, 2016, 21:16:06
Yep none of them will phone in when Power is on either. You'd think they'd be clamouring to ask him direct. But no, they randomly ask people on forums.
I have tried to ask a couple of questions on phone-ins, but when asked what I wanted to say they tell me they have run out of time to ask questions!!  Censorship - or Hodgetts scared of his own shadow again!


Title: Re: Lee Power siphoning off funds
Post by: suttonred on Sunday, October 30, 2016, 21:21:26
I have tried to ask a couple of questions on phone-ins, but when asked what I wanted to say they tell me they have run out of time to ask questions!!  Censorship - or Hodgetts scared of his own shadow again!

I think to be fair he said he's fed up with answering the same question time and time again, a bit like me being grouchy when new posters keep asking the same things over and over again. But he will get them again and again. Maybe he needs to bury the hatchet with the press, put out his statement for all to see, and that's that. Unfortunately as we know there is a fly in the ointment with that solution, so until something changes it's going to be a continual loop.


Title: Re: Lee Power siphoning off funds
Post by: random_five on Sunday, October 30, 2016, 21:45:11
He's openly admitted that he's only here to make money out of our club.

How is that in any way acceptable to one single Swindon Town fan?



Title: Re: Lee Power siphoning off funds
Post by: Kinky Tom on Sunday, October 30, 2016, 21:50:53
How is that in any way acceptable to one single Swindon Town fan?

Is that a serious question?


Title: Re: Lee Power siphoning off funds
Post by: Kinky Tom on Sunday, October 30, 2016, 21:52:12
Would you buy a local village pub and invest into it with no desire to make any money?


Title: Re:
Post by: Oaksey Moonraker on Sunday, October 30, 2016, 22:01:57
I read the Waterford story as one for football reasons.

Either he has had enough at Swindon and is looking for an out. If so he is going to be looking for a buyer to cover the £2m owing to Black and any outstanding loans LP has put in. About £4m from the phone ins but they may have been repaid from the Luongo, Gladwin and Byrne deals. A novel idea for football clubs to repay loans from owners!.

Or LP sees Waterford to complement his Swindon Project. Maybe he will ship a few of our kids to have a season or two in Irish football to get experience in competitive football but in an environment where he has control over where they play rather than random loan deals. He may also look to move any Irish talent in the opposite direction and get them playing in the Football League and sell on for a decent fee. Could see Seamus Brady involved along the way.

Personally, I think Power is a ultimately a football man but as with a lot of people in football there is ego involved. He doesn't see why he should be transparent, thinks his recruitment and style is the way to go and doesn't believe in PR if you get the product on the pitch right.

It's gone awry this season and needs to be sorted out by the transfer window. I will be lively when he comes asking for season ticket money in the spring.



Sent from my HTC One M9


Title: Re: Lee Power siphoning off funds
Post by: random_five on Sunday, October 30, 2016, 22:07:15
Corrupt FIFA officials - Only involved with football to make money : Scum, no ethics, getting away with it, hate them, got to make changes for the good of the game, come on people..

Player agents - Only involved with football to make money : Got to stop this, ruining lower league clubs, nasty people, leeches, don't care about the game, something has to be done..

Sky Sports - Only involved with football to make money : Ruining our game, don't care about the fans as long as they make money, evil corporate selfish wankers, got to make a stand for the good of the game..

Lee Power - Only involved with football to make money : No worries, I'm fine with that. It's like buying a pub, yeah?


Title: Re: Lee Power siphoning off funds
Post by: Kinky Tom on Sunday, October 30, 2016, 22:12:09
You know very well what I mean, no matter who owns a pub it really belongs to the village and people love it and support it, much like a football club.  Nobody begrudges a pub owner making money.


Title: Re: Lee Power siphoning off funds
Post by: Batch on Sunday, October 30, 2016, 22:17:27
I don't think many would begrudge Power making money. So long as it's not an abuse of his position (in that he's being fair and competitive with his loans).


Title: Re: Lee Power siphoning off funds
Post by: random_five on Sunday, October 30, 2016, 22:21:58
No I don't know very well what you mean.

This is football. It's our football club. Not a fucking village pub.

Lee Power has no links to Swindon whatsoever. He does not care about the club. He doesn't care about the fans (other than lamenting the fact that since he appointed a giant fucking baby as manager there aren't enough of us, which effects his income) He doesn't care about the community. He doesn't care about the local paper that has served the club for 100 years. He doesn't care about the ground. He doesn't care about our history. He doesn't care about beating our rivals. He doesn't care about us arguing with our own fans about all of this shit. He doesn't care about fucking anything to do with this club other than the cash.

He dangled the sustainability carrot because he knew we'd all buy it. It's utter fucking bollocks.


Title: Re: Lee Power siphoning off funds
Post by: suttonred on Sunday, October 30, 2016, 22:23:25
Corrupt FIFA officials - Only involved with football to make money : Scum, no ethics, getting away with it, hate them, got to make changes for the good of the game, come on people..

Player agents - Only involved with football to make money : Got to stop this, ruining lower league clubs, nasty people, leeches, don't care about the game, something has to be done..

Sky Sports - Only involved with football to make money : Ruining our game, don't care about the fans as long as they make money, evil corporate selfish wankers, got to make a stand for the good of the game..

Lee Power - Only involved with football to make money : No worries, I'm fine with that. It's like buying a pub, yeah?


 I cant work out your point really, or even if you are being serious. The first three are not a football problem they are a human greed problem. The 4th. Um, are you a volunteer in your day job? If not, then are you bleeding your company dry, or doing your day job for renumeration?


Title: Re: Lee Power siphoning off funds
Post by: newmarket red on Sunday, October 30, 2016, 22:25:07
Im putting the champagne  on ice to i hear good news.  :tumbleweed:


Title: Re: Lee Power siphoning off funds
Post by: pauld on Sunday, October 30, 2016, 22:25:49
If Power wants to pocket every penny that comes into the club he can - it's not theft.
Yes it would be actually. Just because you are the major shareholder in a company (or even the outright 100% owner) doesn't mean you can take out whatever you like. The company still has obligations and liabilities - such as tax, VAT, suppliers, and to other shareholders if there are any - that have to be met. A director or owner taking everything out without meeting those obligations would be theft.


Title: Re: Lee Power siphoning off funds
Post by: suttonred on Sunday, October 30, 2016, 22:28:20
Im putting the champagne  on ice to i hear good news.  :tumbleweed:

10 words, well done. Unfortunately not in comprehensible English. If you have something to add, then add it. If not, stop.


Title: Re: Lee Power siphoning off funds
Post by: random_five on Sunday, October 30, 2016, 22:29:47
I cant work out your point really, or even if you are being serious. The first three are not a football problem they are a human greed problem. The 4th. Um, are you a volunteer in your day job? If not, then are you bleeding your company dry, or doing your day job for renumeration?

When someone makes a salient point that you can't deal with, it's always nice to wheel out the old "if you are being serious" line in a vein attempt to counter the argument.

Reality is, every corrupt cunt at FIFA who took the piss.. yes, that was their job.. Player agents?.. yes, that is their day job.. Sky sports.. Guess what, that's their job.

Lee Power - Human greed? Damn fucking right it is.


Title: Re: Lee Power siphoning off funds
Post by: Kinky Tom on Sunday, October 30, 2016, 22:31:46
So you wouldn't have a problem with him making money if he came and washed your socks and could tell you who scored all our goals at Wembley?

There is absolutely nothing wrong with him wanting to make some money, obviously things are bad for us at the moment but nothing you listed would be a problem if the model was currently working, much like most dickhead fans wouldn't care if somebody came in and got several dodgy loans secured against the club a la Bury so long as we were 'showing ambition'


Title: Re: Lee Power siphoning off funds
Post by: suttonred on Sunday, October 30, 2016, 22:32:29
You mention vein. I bet the one in your temple is throbbing.


Title: Re: Lee Power siphoning off funds
Post by: pauld on Sunday, October 30, 2016, 22:33:41
10 words, well done. Unfortunately not in comprehensible English. If you have something to add, then add it. If not, stop.
Be fair it was pretty clear what he meant


Title: Re: Lee Power siphoning off funds
Post by: suttonred on Sunday, October 30, 2016, 22:34:54
Be fair it was pretty clear what he meant
I'm not getting it then. Has he heard something? I'm really not sure what it means.


Title: Re: Lee Power siphoning off funds
Post by: random_five on Sunday, October 30, 2016, 22:35:42
You mention vein. I bet the one in your temple is throbbing.

Yes, I meant vain, of course.

Ergo you win.

Carry on Lee, Sutton Red is happy with you raping us.


Title: Re: Lee Power siphoning off funds
Post by: suttonred on Sunday, October 30, 2016, 22:37:53
Yes, I meant vain, of course.

Ergo you win.

Carry on Lee, Sutton Red is happy with you raping us.

Of course.. do some research, do some reading back. You wont of course, as your opinion is what matters, you have all the answers it seems.


Title: Re: Lee Power siphoning off funds
Post by: random_five on Sunday, October 30, 2016, 22:39:15

things are bad for us at the moment

Finally we agree on something.


Title: Re: Lee Power siphoning off funds
Post by: Kinky Tom on Sunday, October 30, 2016, 22:44:16
Finally we agree on something.

Not one person has said anything otherwise re. our current performance, it's plain to see we've been crap recently.  Many of us hope that with the first choice players that have been out recently will improve us.  A good run of form in this shit league would change things drastically.


Title: Re: Lee Power siphoning off funds
Post by: Ells on Sunday, October 30, 2016, 22:47:01
Corrupt FIFA officials - Only involved with football to make money : Scum, no ethics, getting away with it, hate them, got to make changes for the good of the game, come on people..

Player agents - Only involved with football to make money : Got to stop this, ruining lower league clubs, nasty people, leeches, don't care about the game, something has to be done..

Sky Sports - Only involved with football to make money : Ruining our game, don't care about the fans as long as they make money, evil corporate selfish wankers, got to make a stand for the good of the game..

Lee Power - Only involved with football to make money : No worries, I'm fine with that. It's like buying a pub, yeah?


It might be egregious but it's the way football works. If you want an owner who is in it purely for the love then you're going to be waiting for a very long time I fear.


Title: Re: Lee Power siphoning off funds
Post by: random_five on Sunday, October 30, 2016, 22:48:12
It might be egregious but it's the way football works. If you want an owner who is in it purely for the love then you're going to be waiting for a very long time I fear.

Where did I say that?


Title: Re: Lee Power siphoning off funds
Post by: Ells on Sunday, October 30, 2016, 23:00:47
Where did I say that?

What's the alternative to being in it for the money? And as a secondary question, how common do you think that is in football?


Title: Re: Lee Power siphoning off funds
Post by: random_five on Sunday, October 30, 2016, 23:20:11
What's the alternative to being in it for the money? And as a secondary question, how common do you think that is in football?

We have ended up with a greedy, incompetent, bloated chancer who insists on a model that makes him some cash but dooms the football club to failure.. and he openly admits that's fine, as long as he makes his money and retreats to his tax haven and persists with a fucking toddler for a manager.

But you're OK with that.



Title: Re: Lee Power siphoning off funds
Post by: johnritsons toupe on Sunday, October 30, 2016, 23:20:53
Reg will remember an ex STFC chairman by the name of Ray Hardman. This was back in the 1990's.

Hardman was the first Chairman of the club ever to pay himself a wage. Previous to him, everyone had done the job as an extra to their duties as an investor / director.

Back then, Directors of the clubs board used to stump up £100,00 or so to get a seat in the boardroom. That's how the likes of Peter Godwin, Cliff Puffit and Mike Spearman got involved.

Hardman claiming wages for doing a job that all before him had done on a voluntary basis was anathema at the time.

As far as I can tell, Power is the first person to openly get paid for running the club in the position of Chairman since Mr Hardman was in town.

For those of you that are wary of supporters running the club, as in the Trust model, let me ask a question; Why does is it OK for someone like Power to extract huge sums of player profits and to trouser the cash for himself, yet it's somehow not acceptable for supporters to run the show and to reinvest those same profits for the good of the club that we all support?

I agree with the comment about the trust of 10 years ago would have been all over Power by now. They were motivated by the presence of a toxic regime in Diamandis, Bob Holt, Mark Devlin, Mark Sulivan and Sandra Gray and they were proved right. They were villified in the extreme for their stance at the time and there were many naysayers such as the supporters club who were quick to spout off in the press in defence of the board, but the trust stood their ground and brought about change when Fitton came in.

A decade down the line, don't make the mistake of thinking that the trust are stupid or that they are just sitting on their hands.


Title: Re: Lee Power siphoning off funds
Post by: Ells on Sunday, October 30, 2016, 23:27:26
We have ended up with a greedy, incompetent, bloated chancer who insists on a model that makes him some cash but dooms the football club to failure.. and he openly admits that's fine, as long as he makes his money and retreats to his tax haven and persists with a fucking toddler for a manager.

But you're OK with that.



You didn't answer my question at all and just ranted. There are no facts in what you said whatsoever.


Title: Re: Lee Power siphoning off funds
Post by: Kinky Tom on Sunday, October 30, 2016, 23:43:16
For those of you that are wary of supporters running the club, as in the Trust model, let me ask a question; Why does is it OK for someone like Power to extract huge sums of player profits and to trouser the cash for himself, yet it's somehow not acceptable for supporters to run the show and to reinvest those same profits for the good of the club that we all support?

And where would a fan owned club get the money that Power spent on the players that have been sold on in the first place?

We're not Barcelona, we don't have millions of fans world wide to pay big transfer fees.



Title: Re: Lee Power siphoning off funds
Post by: RobertT on Sunday, October 30, 2016, 23:58:13
Now, I might be going nuts but weren't some abbreviated accounts produced recently?  Showed a decent financial loss and pretty much confirmed most of the numbers people had rumored around debts etc.  It also showed progress from a previous higher loss, and would have covered up until May 2015 I think.
Essentially it backed up the claims of investing around £4m to cover running costs initially, and then the transfer money would have come in post these accounts to begin paying down the loans.  It is highly unlikely all the debt has been paid back as yet, so Power will still have some loans owed by the football club and I would imagine some of our annual running costs now include paying him back.
In relation to previous owners/directors - Hardman was vilified for running the club close to break even (accounts at the time show we probably even made a profit or two) because it meant selling players like Shearer/Kerslake (and other directors in the years leading up to 93/94).  That regime got us to the Premier League, so we should know better than to expect any Board to get a clear run!
The 2007 saga was as a result of Diamandis, not anyone else.  Nobody could ever argue that Wills' family didn't put money into the club and keep losing it.  The issue here was a self interest causing a combination of personal greed and reckless incompetence.  They were, in combination, putting the very existence of the club at risk and steadfastly refusing to give it up, until the squeeze came on.  Whether Power is good or bad for the club, he is not creating a model right now that immediately puts at that risk.  I also think he'd be very willing to sell-up if someone paid him off - so essentially, this time around we are in a put up or shut scenario.  I am surprised that the Trust hasn't been more pro-active in looking to grease another investor or raise funds themselves directly towards that aim, publicly.  They wouldn't need that to be at odds with Power, they can easily keep him happy by saying it is a long term goal with a plan to get him his cash.


Title: Re: Lee Power siphoning off funds
Post by: johnritsons toupe on Monday, October 31, 2016, 00:16:46
And where would a fan owned club get the money that Power spent on the players that have been sold on in the first place?

We're not Barcelona, we don't have millions of fans world wide to pay big transfer fees.

I don't have all the answers Tom, but how can we be sure if, or what, Power paid for any of the players he sold on and pocketed the money for?

I understand that people are wary of change, but I think most of us know Power isn't the long term solution that the club needs.

If we're to believe anything he's said, one thing he's achieved in the time he's been here is to get the books balanced and the club paying it's own way on the turnover it generates, so he's not all bad.

On that basis, the prospects for the future if it were to be run by an amalgamation of the trust and business people based in the town would be excellent as any sold player profits would purely enhance the business, not an individuals bank balance.

Also, the PR and bad feeling around the town couldn't get much worse, ditto the quality of the football and poor results, so I can't see much of an argument against Power leaving and handing the club over to the trust.

If they took over they may well make mistakes, but at least they'd be mistakes made with the right intentions and they'd be completely accountable to the rest of us and be open to scrutiny, which would be better than the closed shop and profit drain that we currently have.

Can someone please give me a credible counter argument?


Title: Re: Lee Power siphoning off funds
Post by: RobertT on Monday, October 31, 2016, 01:36:05
The price tag?  Unlike the last time in 2005-2007, the club has a stable balance sheet, so he is unlikely to just let the business go, and he'll still have his own debts to pay, plus a secured debt from Black of at least £2m on the sale of the club.


Title: Re: Lee Power siphoning off funds
Post by: Panda Paws on Monday, October 31, 2016, 09:25:50
No I don't know very well what you mean.

This is football. It's our football club. Not a fucking village pub.

Lee Power has no links to Swindon whatsoever. He does not care about the club. He doesn't care about the fans (other than lamenting the fact that since he appointed a giant fucking baby as manager there aren't enough of us, which effects his income) He doesn't care about the community. He doesn't care about the local paper that has served the club for 100 years. He doesn't care about the ground. He doesn't care about our history. He doesn't care about beating our rivals. He doesn't care about us arguing with our own fans about all of this shit. He doesn't care about fucking anything to do with this club other than the cash.

He dangled the sustainability carrot because he knew we'd all buy it. It's utter fucking bollocks.


Two small points here - It's not out club, and hasn't been for a long time before Power rocked up.

Also, the local paper? Owned by Gannett. American, revenue of c. $2.9billion. Not printed in Swindon. Not subbed in Swindon. And a pile of shite. If I was in charge of the club I'd tell them to piss off too (and give access to a community rag/website of some sort).

The rest I sort of think is true, but true of most owners in the FL.


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Monday, October 31, 2016, 09:28:26
 Historically as JRT pointed out Directors would stump up some cash to get on the Board.....Carson as he never tired of telling us paid 400K, to become Chairman.

 The Directors would then secure a bank loan against their own assets, as the club had none, once the small property portfolio had been sold off.  When the bank manager came calling, the gaffer got on the phone to sell someone, to keep them at bay....which is why the March deadline was feared, you could pretty much guarantee a sale to cover summer costs.

 However the turn of the century crash, which saw us in admin and selling the lawnmower etc, meant banking facilities were lost, and the club having to turn to owners/directors for loans to keep running.  SSW, through Lady Wills was forthcoming in that department, as was Andrew Black. They both accepted eventually that they'd have to write off money, even though I'm sure they'd have preferred to be recompensed for their outlays.

Power has said he wants to make money from his guarantees, and we must assume he's paid himself back something from the outgoing transfer fees, in much the same way as that money would have paid off the banks in the past. In the past, a sale of a Don Rogers for 150K, would see a few bob of it invested in a Tommy Jenkins as a replacement, in the same way as a JAF would see some invested back in a Lord Lucan.   So Power, is seemingly not doing too much different....he's invested in a Luke Norris to replace Ajose....and punted on Vigs.

There's also the training ground thing to consider.  :hmmm:

Power because of his history, persona and modus operandi was always going to get it, once the football side went tits up....it was ever thus.


Title: Re: Lee Power siphoning off funds
Post by: Flashheart on Monday, October 31, 2016, 09:32:43
I'm actually quite please he told the adver to fuck off. It's a disgraceful rag, not far behind the likes of the Sun and the Daily Mail. Full of sensationalist headlines and unethical reporting to help sell papers, and the STFC coverage is only a small part of it.

They don't serve STFC or the town, they serve themselves. Fuck them.


Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Monday, October 31, 2016, 09:40:02
The last line of Reg's post about Power's history is what worries most - CR8 morphing into CR8(UK) but not before siphoning off the contracts and then folding the original company along with 'funds' disappearing into Welpdale Assets.

Then the Great Northern Hotel in Peterborough left a nasty taste - plus 13 of his 19 companies being folded.

It's this history that makes it uneasy when thinking he wont leave STFC in a similar way.


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Monday, October 31, 2016, 09:42:40
I don't have all the answers Tom, but how can we be sure if, or what, Power paid for any of the players he sold on and pocketed the money for?


That runs both ways though doesn't it, do we know of what fees were received, what sell on fees had to be settled, equally is there evidence that he has pocketed the money or has it just been used to repay loans or wider debts?


I understand that people are wary of change, but I think most of us know Power isn't the long term solution that the club needs.

If we're to believe anything he's said, one thing he's achieved in the time he's been here is to get the books balanced and the club paying it's own way on the turnover it generates, so he's not all bad.


Quite possibly so, but he is the only show in town at the moment unless someone wants to find £6m to buy him out, even if he had shown any inclination of selling?


On that basis, the prospects for the future if it were to be run by an amalgamation of the trust and business people based in the town would be excellent as any sold player profits would purely enhance the business, not an individuals bank balance.


Couple of things here, I have plenty of time for the Trust but have they ever shown that they have enough financial backing or expertise to run the club, there are examples where fan ownership has gone wonderfully but also where it has gone dreadfully? I am sure if there were all these business people willing to net involved we would have heard from them by now, as per my earlier comment there is the small matter of c.£6m to find and also working capital to actually run the club (again no disrespect to the Trust but the Help Raise the Roof initiative has now raised around c.£11k in 2? years, just shows how hard it is to raise funds), especially as possibly finding decent players for peanuts would get even harder without the contacts in the game Power has?


Also, the PR and bad feeling around the town couldn't get much worse, ditto the quality of the football and poor results, so I can't see much of an argument against Power leaving and handing the club over to the trust.


The PR is crap, but is it really the be all and end all or just a handy stick?

Whilst the club has very few assets, can you really see or expect Power 'handing it over' without at the very least getting all the cash he has put in back, plus there is the spectre of Andrew Black still hovering in the distance, as I have said time and time again Swindon is a club with very few assets but a hell of a lot of liabilities, I cannot see Trust board members wanting to take on those liabilities without a fair few safety nets in place.


If they took over they may well make mistakes, but at least they'd be mistakes made with the right intentions and they'd be completely accountable to the rest of us and be open to scrutiny, which would be better than the closed shop and profit drain that we currently have.

Can someone please give me a credible counter argument?

Repeat my point above, what 'fan' would want to take over the liabilities and be 'accountable' to the other fans who have shown themselves unwilling to ever accept hard truths, I can just imagine the fun and game on here if the money got short or a player was sold and not all the return spent on other players, it would be as bad as the non-evidenced stuff that goes around now 'profit drain' for instance what does that actually mean.

Closed shop, if you want a closed shop try Chelsea where, I believe, Abromovich has never spoken to the fans (not sure they have ever even heard his voice), but they are doing well and thus the fans are happy, as I suspect many of the most vociferous here would be also if we weren't rubbish. The problem we have at the moment is we have a crap team, I remain unconvinced that a group of fans and provincial businessmen will alleviate that fundamental issue?


Can someone please give me a credible counter argument?

Credible, probably no more than your original points, I would more say realistic and pragmatic.

Having lived through the Diamandis financial wilderness, the Fitton New Labour Era, the Black financial meltdown, the McCrory Tin Pot Years, the Di Canio Pissing what we don't have up the wall era, and the present Power trying to balance the ship and then stagnating era I really don't have any preference who owns the club as long as they run it as a sustainable business and don't destroy it (feel free to draw your own conclusions where each of the former periods stand in that matrix). No urge for Power to stay, but as he is the only credible show in town at the moment there is little we can do.

I would love to buy the club, plough £100m in to transfers and the same again to the ground, but that's just not credible, but is as credible as many of the arguments being presented on here at the moment.  


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Monday, October 31, 2016, 09:46:53
Two small points here - It's not out club, and hasn't been for a long time before Power rocked up.

Also, the local paper? Owned by Gannett. American, revenue of c. $2.9billion. Not printed in Swindon. Not subbed in Swindon. And a pile of shite. If I was in charge of the club I'd tell them to piss off too (and give access to a community rag/website of some sort).

The rest I sort of think is true, but true of most owners in the FL.

Fans need to think of it as "our" club, if that link is broken, which is increasingly the case today....then you're fucked.

You can get away with it at the top end, where they consider themselves global brands and buying a shirt means you belong to the tribe in Botswana or similar.

At our level though, it's the only thing which keeps the clubs going.  This is Power's biggest mistake....if the garden isn't tended to, then it runs wild.


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Monday, October 31, 2016, 09:49:13
Historically as JRT pointed out Directors would stump up some cash to get on the Board.....Carson as he never tired of telling us paid 400K, to become Chairman.

 The Directors would then secure a bank loan against their own assets, as the club had none, once the small property portfolio had been sold off.  When the bank manager came calling, the gaffer got on the phone to sell someone, to keep them at bay....which is why the March deadline was feared, you could pretty much guarantee a sale to cover summer costs.

 However the turn of the century crash, which saw us in admin and selling the lawnmower etc, meant banking facilities were lost, and the club having to turn to owners/directors for loans to keep running.  SSW, through Lady Wills was forthcoming in that department, as was Andrew Black. They both accepted eventually that they'd have to write off money, even though I'm sure they'd have preferred to be recompensed for their outlays.

Power has said he wants to make money from his guarantees, and we must assume he's paid himself back something from the outgoing transfer fees, in much the same way as that money would have paid off the banks in the past. In the past, a sale of a Don Rogers for 150K, would see a few bob of it invested in a Tommy Jenkins as a replacement, in the same way as a JAF would see some invested back in a Lord Lucan.   So Power, is seemingly not doing too much different....he's invested in a Luke Norris to replace Ajose....and punted on Vigs.

There's also the training ground thing to consider.  :hmmm:

Power because of his history, persona and modus operandi was always going to get it, once the football side went tits up....it was ever thus.

Exactly, Power is essentially acting as the clubs banker as the banks will not offer credit facilities to such businesses, it would have been interested to see how the club could have performed with SSW's money but being advised by someone who was credible.

Sadly most ships have sailed with regards to the club, opportunities have been missed and we are where we are, nothing against fan control (its worth a go) but just cannot see a credible manner in which it can be achieved, the chance could have been when Black left, but whilst they could have bought the club for a quid, they would have also got pages of liabilities and had to find the millions Power has put into the place?


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Monday, October 31, 2016, 09:50:51
Fans need to think of it as "our" club, if that link is broken, which is increasingly the case today....then you're fucked.

You can get away with it at the top end, where they consider themselves global brands and buying a shirt means you belong to the tribe in Botswana or similar.

At our level though, it's the only thing which keeps the clubs going.  This is Power's biggest mistake....if the garden isn't tended to, then it runs wild.

If the garden believes the bollocks spouted by an embittered local rag just as they may have to work to get their stories and will believe any negative story it reads on social media without question I think the gardens pretty fucked anyway?


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Monday, October 31, 2016, 09:53:12
The last line of Reg's post about Power's history is what worries most - CR8 morphing into CR8(UK) but not before siphoning off the contracts and then folding the original company along with 'funds' disappearing into Welpdale Assets.

Then the Great Northern Hotel in Peterborough left a nasty taste - plus 13 of his 19 companies being folded.

It's this history that makes it uneasy when thinking he wont leave STFC in a similar way.

Where is this from, not doubting you just interested in his business history.


Title: Re: Lee Power siphoning off funds
Post by: Tails on Monday, October 31, 2016, 09:55:23
The Trust don't have the know how or the money to run the club and we don't get enough fans through the gates to sustain ourselves. Whilst I appreciate the work they do, unless one of them is storing millions in a bank somewhere, it's not going to work.

If the Trust were in charge, the people currently shouting for the Trust (well.. 'fans') to be in charge will be the first to moan that we're doing everything on the cheap and that we're showing no ambition (due to the aforementioned lack of funds).

You're just gonna have to sit back and wait for a Town fan who is a billionaire and doesn't mind losing millions every year keeping the fans happy. And you'll still complain about something.

And don't take this as me being a Power fan. It's me being a realist. To sustain ourselves in the third tier (without serious investment) is probably the best we can hope for. I don't see Power as the villain many make him out to be, his lack of ambition frustrates me granted, but I prefer this to not knowing if we'd have a club next week.


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Monday, October 31, 2016, 10:00:14
The Trust don't have the know how or the money to run the club and we don't get enough fans through the gates to sustain ourselves. Whilst I appreciate the work they do, unless one of them is storing millions in a bank somewhere, it's not going to work.

If the Trust were in charge, the people currently shouting for the Trust (well.. 'fans') to be in charge will be the first to moan that we're doing everything on the cheap and that we're showing no ambition (due to the aforementioned lack of funds).

You're just gonna have to sit back and wait for a Town fan who is a billionaire and doesn't mind losing millions every year keeping the fans happy. And you'll still complain about something.

And don't take this as me being a Power fan. It's me being a realist. To sustain ourselves in the third tier (without serious investment) is probably the best we can hope for. I don't see Power as the villain many make him out to be, his lack of ambition frustrates me granted, but I prefer this to not knowing if we'd have a club next week.

What he said!


Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Monday, October 31, 2016, 10:01:31
Where is this from, not doubting you just interested in his business history.
http://www.peterboroughtoday.co.uk/news/environment/great-northern-hotel-staff-lose-jobs-as-company-goes-under-1-134866

http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/8488199/Premier-League-football-teams-lose-millions-on-printers-collapse.html


Title: Re: Lee Power siphoning off funds
Post by: chalkies_shorts on Monday, October 31, 2016, 10:05:57
If we won a few games and put in some decent performances all this would go away. The fans would leave happy and not give a shit about ownership etc. Personally I couldn't give a shit who owns the club. I don't give a shit if they make money out of it - within reason. All I want is a club that competes and is in no danger if going out of business. At the moment we're not competing as the coaching appears to relate to the individual players rather than the team. As for going out of business, we seem to be far away from that. We're not hearing about creditors taking us to court etc. As for the Advertised they can go fuck themselves bunch of scummers. As for PR it is bad but it's a little like brexit. If everyone talks it down then it  creates its own PR. So, for me, the number 1 worry is getting a team in the pitch not a collection of coach able and saleable individuals.


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Monday, October 31, 2016, 10:06:58
Just for the record the abbreviated accounts up to 31/05/15 lodged earlier this year (they are on CH website but I don't think I can link to them or attach the PDF) show a shareholders deficit of £6,534,586 to May 2015, up from to May 2014 £6,445,594.

Also notes that Swindon Town Football Club Ltd (Directors Mr L Power and Ms S Shah) is controlled by Seebeck 87 Ltd (Jeds old vehicle), directors Mr L Power and Mr S Anderson, which is in turn controlled by Swinton Reds 20 Ltd, directors Mr L Power and Mr S Crouch.


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Monday, October 31, 2016, 10:16:35
http://www.peterboroughtoday.co.uk/news/environment/great-northern-hotel-staff-lose-jobs-as-company-goes-under-1-134866


That's shitty, but it was 7 years ago slap bang in the middle of the recession, plus did Power actually have anything to do with Renelson Investments SA who bought the place, not in any way making excuses but some context would be useful.


http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/8488199/Premier-League-football-teams-lose-millions-on-printers-collapse.html

Again some context would be handy as Companies House suggests that Power resigned as a director of that company in 2009? Again its no excuse but just because someone has had a messy business history does not make them a crook, may just get into business with the wrong un's or be inept?


Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Monday, October 31, 2016, 10:31:35
Agreed. But it's hardly stretching your imagination that he may well leave us in the shit, too.


Title: Re: Lee Power siphoning off funds
Post by: suttonred on Monday, October 31, 2016, 10:39:24
Jesus H, is the whole topic going to go round the houses again? Most of you are like my wife, worrying about everything that probably wont happen, and getting herself into a state. The time to worry would be if there was something tangible to worry about. There isn't. Something may or may not go south in the future, I don't know. I'm sure not going to fret until I have something to focus any attention on.


Title: Re: Lee Power siphoning off funds
Post by: Batch on Monday, October 31, 2016, 10:41:17
yeah, I thought power walked  away before the printers went tits up.

if it's any consolation to the angsty younger contributes, the "power out" type chants and the shit performances have always gone hand in hand.

20 odd years ago when I started to watch "sack the board" and "get your checkbook out" were commonplace in times of shitness.

to be honest I think fans have mellowed in recent years, in some ways at least. what's different now is you get 24/7 access to talk bollocks to everyone in a forum, rather than pub + 90 minutes moaning to the people around you.
--------


Title: Re: Lee Power siphoning off funds
Post by: Sippo on Monday, October 31, 2016, 10:44:21
Jesus H, is the whole topic going to go round the houses again?

Or round and round the garden, like a teddy bear...


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Monday, October 31, 2016, 10:44:49
Jesus H, is the whole topic going to go round the houses again? Most of you are like my wife, worrying about everything that probably wont happen, and getting herself into a state. The time to worry would be if there was something tangible to worry about. There isn't. Something may or may not go south in the future, I don't know. I'm sure not going to fret until I have something to focus any attention on.

The incipent humiliation on national TV, is what is agitating most folks atm.  The BBC were alway going to get their revenge for this....

https://www.youtube.com/watch?v=rwU9pHTEhA8


Title: Re: Lee Power siphoning off funds
Post by: suttonred on Monday, October 31, 2016, 11:39:50
Is it my imagination? Or did Leroy own up to doing that?


Title: Re: Lee Power siphoning off funds
Post by: Batch on Monday, October 31, 2016, 12:15:19
I don't know if he owned up or not, but one of them did tell me it was Maltesers not stones. How did they know? How?

Guilty.


Title: Re: Lee Power siphoning off funds
Post by: Barry Scott on Monday, October 31, 2016, 13:58:16
It amuses me how people ask to see the accounts. I'd wager 90% wouldn't want to read them, 9% wouldn't know how to read them, and of the remaining 1% that could read them, 99% of them would either be liars or unable to give anything that reinforced the detractors negative view points so they'd  therefore be worthless.

I'd further wager, you could attach the accounts, then completely without foundation, or fact, mention that there's a black hole and how £4m has been removed for "operating costs" or however you'd word that on accounts, say it using a few convincing long words and it'd be fact in a few hours and the Facebook page would implode with foaming mong-anger.


Title: Re: Lee Power siphoning off funds
Post by: Barry Scott on Monday, October 31, 2016, 14:03:21
I don't think there's any amount of interaction, or transparency, unless it involved a bottomless pit of Russian money, that would appease our fans.

I think it was futurama and the professor was discussing evolution with some religionists, and no matter how much evidence he provided it was never enough. Our fans (likely all fans) are like that when things aren't going in their favour.


Title: Re: Lee Power siphoning off funds
Post by: Batch on Monday, October 31, 2016, 14:27:48
If the accounts were published I'd let the tefs resident accountants tell me what they mean!

I'm sure they'd be able to tell whether the business was running at break even, and whether long term liabilities/loans are increasing and why.

I'd imagine that's add informed as most of us would get.


Title: Re: Lee Power siphoning off funds
Post by: Flashheart on Monday, October 31, 2016, 15:07:20
If Power did release the accounts, and they showed that everything is above board, he'd just be accused of fiddling the books.


Title: Re: Lee Power siphoning off funds
Post by: RobertT on Monday, October 31, 2016, 15:07:56
2014-2015 (last year for accounts, next ones were due in May, might not have been published yet).

Net Loss of £89k for the full year, put down to reduction in Operating costs, of which, players wages were down from £5.5m to £1.5-£1.7m (that is a claim from Power, but two years previous we did submit a loss of £2.9m!).

Net Assets of -£6.5m - meaning our creditors are much more than our assets.
£4.9m of Liabilities are Long Term Loans.  This had stabilized in the financial year, so was largely the same as the year before, which support the reduced wages line Power used, meaning he'd not introduced extra loans to any large extent in the year (he may have loaned more money, but would have had to pay some back to keep in balance).

£2.9m owed to trade creditors, still a hefty number that one.

This was all prior to Luongo, Gladwin and Byrne moving on.
Without any change in revenue, the evidence here would suggest we'd be running at a loss this season unless we'd covered that loss in the trading year with the proceeds of player sales (FL rules preventing us from spending more without earning more).  It should though mean it is less likely that Power would have loaned the club any new funds, so the 2016 accounts will be worth a look (even the small amount that does get published).

Interestingly you can see the big fall in debt once Power took the business on (it was £14.8m, the drop being the write off by Black), we've added at least £2m in new debt since that handover, and given Black's security is supposedly £2m only, then you'd see Power covering another £2.5m)


Title: Re: Lee Power siphoning off funds
Post by: Barry Scott on Monday, October 31, 2016, 15:08:35
I am semi-trolling, and I'm sure we'll all listen to Si Pie, but like FH said, I don't think any clarity in accounts will settle many for long.


Title: Re: Lee Power siphoning off funds
Post by: otanswell on Monday, October 31, 2016, 15:12:31
Bring back Jed and Diamond Mike I say


Sent from my iPhone


Title: Re: Lee Power siphoning off funds
Post by: Batch on Monday, October 31, 2016, 15:21:20
Quote from: Flashheart
If Power did release the accounts, and they showed that everything is above board, he'd just be accused of fiddling the books.
haha, that's probably true (that he'd be accused). ok definitely true.


Title: Re: Lee Power siphoning off funds
Post by: FreddySTFC! on Monday, October 31, 2016, 15:54:57
If the Trust, or any other reputable group/consortium ever did take control of the club I'd be fairly confident that Black would write off the £2m he's owed upon sale of the club. This is based on nothing more than a hunch of course. 


Title: Re: Lee Power siphoning off funds
Post by: FreddySTFC! on Monday, October 31, 2016, 15:56:10
Does anybody on here know of any progress with the Nigel Eady money?


Title: Re: Lee Power siphoning off funds
Post by: corner on Monday, October 31, 2016, 16:36:22
Does anybody on here know of any progress with the Nigel Eady money?
I would assume it's being used for the training ground


Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Monday, October 31, 2016, 16:48:32
Not been used at all yet. The training ground is entirely Power's doing. It was mooted he didn't want any outside involvement in the purchase - much the same as he doesn't want any outside investment in the club.

I think Eady's solicitors have power of attorney on how the money is used but God knows what criteria would pass their scrutiny. Maybe the roof on the Bank?


Title: Re: Lee Power siphoning off funds
Post by: corner on Monday, October 31, 2016, 16:51:50
Not been used at all yet. The training ground is entirely Power's doing. It was mooted he didn't want any outside involvement in the purchase - much the same as he doesn't want any outside investment in the club.

I think Eady's solicitors have power of attorney on how the money is used but God knows what criteria would pass their scrutiny. Maybe the roof on the Bank?
I thought it had to be used for the youth development


Title: Re: Lee Power siphoning off funds
Post by: Simon Pieman on Monday, October 31, 2016, 17:00:14
I split it with Lee Power but I can explain it away with accounting nonsense  :)


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Monday, October 31, 2016, 17:06:05
Not been used at all yet. The training ground is entirely Power's doing. It was mooted he didn't want any outside involvement in the purchase - much the same as he doesn't want any outside investment in the club.

I think Eady's solicitors have power of attorney on how the money is used but God knows what criteria would pass their scrutiny. Maybe the roof on the Bank?

Not sure how spending any money on the ground would be a good use of the money as in the present arrangement it would essentially be aiding the Council who actually own the asset?


Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Monday, October 31, 2016, 17:14:00
Out of interest, who funded the Arkells and the DRS when they got built?


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Monday, October 31, 2016, 17:15:32
Out of interest, who funded the Arkells and the DRS when they got built?

Arkells.....SBC.  DRS government grants post Bradford/Hillsborough.  TE fans subscription.


Title: Re: Lee Power siphoning off funds
Post by: RobertT on Monday, October 31, 2016, 17:17:19
Out of interest, who funded the Arkells and the DRS when they got built?

Reg will love this one!
Ultimately, the Council covered the North Stand, which is how we find ourselves tenants these days.
The Shrivvy Rd stand was nearly 100% funded by a Football Trust grant - money was being dished out from the Govt. at the time to push through all seater stadia.  From memory, it was something like £1m out of the total bill of £1.2m ish.


Title: Re: Lee Power siphoning off funds
Post by: RobertT on Monday, October 31, 2016, 17:17:35
Damn, was expecting a much bigger response from Reg.


Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Monday, October 31, 2016, 17:20:58
But am I right in thinking the club are responsible for the upkeep of the infrastructure?

In a usual tenant/landlord arrangement the landlord is responsible.


Title: Re: Lee Power siphoning off funds
Post by: PetsWinPrizes on Monday, October 31, 2016, 17:25:51

The Shrivvy Rd stand was nearly 100% funded by a Football Trust grant - money was being dished out from the Govt. at the time to push through all seater stadia.  From memory, it was something like £1m out of the total bill of £1.2m ish.

Pretty sure Intel made up the shortfall so it didn't cost the club a penny.

The annoying thing is, such was the unique availability of funding at the time, it would have been the perfect time to do the Bank too, as was the original plan. Sadly it wasn't to be..


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Monday, October 31, 2016, 17:28:08
Reg will love this one!
Ultimately, the Council covered the North Stand, which is how we find ourselves tenants these days.
The Shrivvy Rd stand was nearly 100% funded by a Football Trust grant - money was being dished out from the Govt. at the time to push through all seater stadia.  From memory, it was something like £1m out of the total bill of £1.2m ish.

Did we not get into some financial strife with the building of the North Stand, or have I imagined reading that - did the Council have to bale us out?


Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Monday, October 31, 2016, 17:28:21
It's the Town End that wants levelling. It's embarrassing.


Title: Re: Lee Power siphoning off funds
Post by: Tails on Monday, October 31, 2016, 17:28:36
Didn't building the Arkells Stand nearly cripple us financially?


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Monday, October 31, 2016, 17:29:33
But am I right in thinking the club are responsible for the upkeep of the infrastructure?

In a usual tenant/landlord arrangement the landlord is responsible.

Domestic possibly, commercial property is an entirely different kettle of fish where the tenant normally responsible for maintaining and returning the property, hence why dilapidations is such big business.


Title: Re: Lee Power siphoning off funds
Post by: PetsWinPrizes on Monday, October 31, 2016, 17:30:35
The Trust don't have the know how or the money to run the club and we don't get enough fans through the gates to sustain ourselves. Whilst I appreciate the work they do, unless one of them is storing millions in a bank somewhere, it's not going to work.


While that is certainly true if the Trust was running the whole operation with no other income other than Power currently gets, it's possible that the Club would be much more appealing to investment from big business in the Town if it was a transparent and community owned asset.

No guarantees of course, and there is the fact that the Trust wouldn't come with the football expertise of Power to consider.


Title: Re: Lee Power siphoning off funds
Post by: garethgillman on Monday, October 31, 2016, 17:31:17
But am I right in thinking the club are responsible for the upkeep of the infrastructure?

In a usual tenant/landlord arrangement the landlord is responsible.

Yep, go back about 2 years ago the council were taking the club to court for non payment of rent because Power wanted to negotiate the rent and upkeep fees as it's costing a pretty penny to keep the ground in a usable condition.

http://www.bbc.co.uk/news/uk-england-wiltshire-30586435

On the accounts, in 2014 our cash was £30k, in 2015 was £780k......... no one on the facebook group has been able to come up with a good excuse how Power was robbing the club when they had so much cash sat in the account.

The 2015-16 accounts are going to be key, they will show the luongo / gladwin / byrne money, then we can make a really good guess at what state the club is in as there will be a sharp increase in funds, did Power take a lot out? Will answer some questions which get asked 24/7.


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Monday, October 31, 2016, 17:31:30
Pretty sure Intel made up the shortfall so it didn't cost the club a penny.

The annoying thing is, such was the unique availability of funding at the time, it would have been the perfect time to do the Bank too, as was the original plan. Sadly it wasn't to be..

TBF, the DRS wasn't wholly government funded, there had to be a small element from the club or other source which is why the SB plan was shelved.

Ray Hardman always claimed he saved money by drawing the plans himself, which apparently was his trade.


Title: Re: Lee Power siphoning off funds
Post by: PetsWinPrizes on Monday, October 31, 2016, 17:32:58
Also worth noting that Andrew Black waved his £2 million sell on clause, when the club was transferred from Jed to Power. It's likely that he may be willing to consider doing so again were the Club to pass into the Trusts hands, rather than private investors.


Title: Re: Lee Power siphoning off funds
Post by: RobertT on Monday, October 31, 2016, 17:33:33
Pretty sure the Council owns the physical asset of the NS and the club the rest.  The other stands have at various times been  used as security for various loans.
I'm leaving the NS financial issues to Reg, he does a good job on that one, but yes, it crippled the club and has exposed us to the situation we find ourselves in now.
The issue on repairs cropped up recently with Power and the council.


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Monday, October 31, 2016, 17:34:16
TBF, the DRS wasn't wholly government funded, there had to be a small element from the club or other source whci is why the SB plan was shelved.

Ray Hardman always claimed he saved moneyy by drawing the plans himself, which apparently was his trade.

It shows how much things get skewed over time, I always assumed that the SBN scheme never got planning due to residents amenity concerns?


Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Monday, October 31, 2016, 17:34:32
Apparently, Uncle Firoz charges the Pox £500,000pa rent on the triangle.

What do we pay the council for our plush digs?


Title: Re: Lee Power siphoning off funds
Post by: garethgillman on Monday, October 31, 2016, 17:35:13
While that is certainly true if the Trust was running the whole operation with no other income other than Power currently gets, it's possible that the Club would be much more appealing to investment from big business in the Town if it was a transparent and community owned asset.

No guarantees of course, and there is the fact that the Trust wouldn't come with the football expertise of Power to consider.

realistically to buy the club would be around the £10m including the training ground, paying off Lee and Black plus funds for players and to pass the fit and proper test. How many people would have that cash to spend on a L1 club? Most only get bought when they are cheap as chips.

Motherwell just did a deal with their owner, they will pay them back over 3 years from player sales, but you have to have assets and even just paying Power back, £4m is a lot to make from player sales in 3 years unless you find a really good gem in the wild.

I can't see it happening, maybe Lee will once he has made his investment back? who knows but at the moment, it would take a lot to get take over the club.


Title: Re: Lee Power siphoning off funds
Post by: garethgillman on Monday, October 31, 2016, 17:36:32
Apparently, Uncle Firoz charges the Pox £500,000pa rent on the triangle.

What do we pay the council for our plush digs?

reportedly somewhere between £150 and £300k, going on news reports and from someone on the Trust board.


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Monday, October 31, 2016, 17:36:35
Also worth noting that Andrew Black waved his £2 million sell on clause, when the club was transferred from Jed to Power. It's likely that he may be willing to consider doing so again were the Club to pass into the Trusts hands, rather than private investors.

Isn't the cash repayable to Black should ground redevelopment ever occur, something that will have to happen sometime even if the Trust were to take charge, generations of owners have discovered that a club that only makes money c.25 days a year will struggle in the modern game.


Title: Re: Lee Power siphoning off funds
Post by: Tails on Monday, October 31, 2016, 17:36:43
While that is certainly true if the Trust was running the whole operation with no other income other than Power currently gets, it's possible that the Club would be much more appealing to investment from big business in the Town if it was a transparent and community owned asset.

No guarantees of course, and there is the fact that the Trust wouldn't come with the football expertise of Power to consider.

Perhaps, but there's no guarantee and if someone is investing I'm guessing they wouldn't just give us money to splash on whatever. If the Trust could work as a consortium with someone who has a bit of financial clout and knowledge (any wealthy former players out there?!) then it could be feasible. I remember the Trust in it's old guise was on pretty good terms with Bill Power (correct me if I'm wrong pauld) when the idea of a potential fan takeover was mooted before Fitton took over.


Title: Re: Lee Power siphoning off funds
Post by: RobertT on Monday, October 31, 2016, 17:36:49
TBF, the DRS wasn't wholly government funded, there had to be a small element from the club or other source whci is why the SB plan was shelved.

Ray Hardman always claimed he saved moneyy by drawing the plans himself, which apparently was his trade.

The South Stand was a modular design that had previously been used at Meadow Lane.  The idea was that it could have some resale value should we ever decided to change it again and would also be easy to modify in the future.


Title: Re: Lee Power siphoning off funds
Post by: RobertT on Monday, October 31, 2016, 17:38:51
It shows how much things get skewed over time, I always assumed that the SBN scheme never got planning due to residents amenity concerns?

A couple of residents did raise objections, but the plans were never put through formal planning I don't think.  The club owned the first house, so that wasn't an issue, it was the next two along.  I spoke to the first privately owned house, he was very against it on the grounds it would infringe on the sun coming into his garden - often gotten around.  There were issues raised about noise, which would have likely been overcome as well.


Title: Re: Lee Power siphoning off funds
Post by: garethgillman on Monday, October 31, 2016, 17:42:03
A couple of residents did raise objections, but the plans were never put through formal planning I don't think.  The club owned the first house, so that wasn't an issue, it was the next two along.  I spoke to the first privately owned house, he was very against it on the grounds it would infringe on the sun coming into his garden - often gotten around.  There were issues raised about noise, which would have likely been overcome as well.

The only way to do it would be to switch the angle of the ground but would be very expensive, realistically our ground will never see any more investment, and the council won't ever let us leave so will be stuck in it for a long time, that's down to the council owning the ground the stadia is on, the council have to use the space for sports and if we leave the ground, they have a massive white elephant in town. Been plenty of plans over the years but due to plenty of issues none have ever come to fruition and unless the club leaves the swindon borough, I can't see us ever getting a new stadia.


Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Monday, October 31, 2016, 17:42:17
realistically to buy the club would be around the £10m including the training ground, paying off Lee and Black plus funds for players and to pass the fit and proper test. How many people would have that cash to spend on a L1 club? Most only get bought when they are cheap as chips.

Motherwell just did a deal with their owner, they will pay them back over 3 years from player sales, but you have to have assets and even just paying Power back, £4m is a lot to make from player sales in 3 years unless you find a really good gem in the wild.

I can't see it happening, maybe Lee will once he has made his investment back? who knows but at the moment, it would take a lot to get take over the club.
Don't think the training ground would be part of any club sale. Power has stated it would remain rented to the club with him as landlord.



Title: Re: Lee Power siphoning off funds
Post by: RobertT on Monday, October 31, 2016, 17:42:43
Apparently, Uncle Firoz charges the Pox £500,000pa rent on the triangle.

What do we pay the council for our plush digs?

We pay an annual rent based on Turnover - so if we get more Revenue we pay more rent.  Therefore it varies from year to year, at least that was the case on the lease as it was a few years ago,  The sums of about £150k a year is a good average I think.  It's not huge, but the lease was short term meaning the club was tied into a position of not having any reason to invest in it's assets, and not having much luck with utilizing the ground in different ways with little support from the Council.


Title: Re: Lee Power siphoning off funds
Post by: garethgillman on Monday, October 31, 2016, 17:43:40
Perhaps, but there's no guarantee and if someone is investing I'm guessing they wouldn't just give us money to splash on whatever. If the Trust could work as a consortium with someone who has a bit of financial clout and knowledge (any wealthy former players out there?!) then it could be feasible. I remember the Trust in it's old guise was on pretty good terms with Bill Power (correct me if I'm wrong pauld) when the idea of a potential fan takeover was mooted before Fitton took over.

If there was, they would have come forward when we were in the shitter, a basically free club....... but supposedly only 2 people came forward, and the main one died (not sure how true?) hence we got left with Jed.


Title: Re: Lee Power siphoning off funds
Post by: RobertT on Monday, October 31, 2016, 17:44:03
Oddly enough the council had no problems getting a loan to buy a £15m car park - should have just asked them to build a Monaco style one a new ground.


Title: Re: Lee Power siphoning off funds
Post by: garethgillman on Monday, October 31, 2016, 17:45:02
Don't think the training ground would be part of any club sale. Power has stated it would remain rented to the club with him as landlord.

from what he said on the radio interview, if he was to sell the club it would be sold to the new owner in a "bundle" with the club (so it's a club asset) but until then he will rent it to the club for a "Peppercorn rate".


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Monday, October 31, 2016, 17:45:19
Pretty sure the Council owns the physical asset of the NS and the club the rest.  The other stands have at various times been  used as security for various loans.
I'm leaving the NS financial issues to Reg, he does a good job on that one, but yes, it crippled the club and has exposed us to the situation we find ourselves in now.
The issue on repairs cropped up recently with Power and the council.

The problems of the payments for the Arkells were quite short term and settled by the club getting rid of the squash court and allowing SBC to set up The Alamo, which became a changing facility for the running track and other community use.


Title: Re: Lee Power siphoning off funds
Post by: RobertT on Monday, October 31, 2016, 17:47:40
If there was, they would have come forward when we were in the shitter, a basically free club....... but supposedly only 2 people came forward, and the main one died (not sure how true?) hence we got left with Jed.

The issue at the time of sale was the fact that we were not liquid - expenses were so high that anyone buying the club needed to immediately be able to fund it.  Black may have wiped out debt, but he was essentially passing on a business that would need to be liquidated quite soon after sale without new access to funds.  SSW with Diamandis may have been far dodgier, but they'd run the footballing side down in the meantime, so anyone buying was faced with a different prospect.  They wanted money to pay back their investment but left a club stripped down (aside from Bill Powers investment for a year) that you needed less initial working capital.


Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Monday, October 31, 2016, 17:49:11
from what he said on the radio interview, if he was to sell the club it would be sold to the new owner in a "bundle" with the club (so it's a club asset) but until then he will rent it to the club for a "Peppercorn rate".
So, the golf course has been split into 2 legal entities - the training ground and the rest. I presume Power has something in mind for 'the rest'.


Title: Re: Lee Power siphoning off funds
Post by: RobertT on Monday, October 31, 2016, 17:51:10
The club has a long term lease at a low rent.  The club wouldn't get ownership in any sale, and he's got some plans with the rest of the land for himself.


Title: Re: Lee Power siphoning off funds
Post by: garethgillman on Monday, October 31, 2016, 17:52:17
So, the golf course has been split into 2 legal entities - the training ground and the rest. I presume Power has something in mind for 'the rest'.

Supposedly housing and stables, as he has interests in horses (and magazines) so yes, the land would be split up, Power uses what he wants and the club get their share which they rent from Power.


Title: Re: Lee Power siphoning off funds
Post by: garethgillman on Monday, October 31, 2016, 17:54:56
The issue at the time of sale was the fact that we were not liquid - expenses were so high that anyone buying the club needed to immediately be able to fund it.  Black may have wiped out debt, but he was essentially passing on a business that would need to be liquidated quite soon after sale without new access to funds.  SSW with Diamandis may have been far dodgier, but they'd run the footballing side down in the meantime, so anyone buying was faced with a different prospect.  They wanted money to pay back their investment but left a club stripped down (aside from Bill Powers investment for a year) that you needed less initial working capital.

I know that but if Power saw how he could turn it around, anyone with an STFC interest would have as well, but they wouldn't have the connections he does. The usual facebook lot keep saying put up for sale and someone will come forward, but every other time we have gone up for sale, there hasn't ever been big interest.....


Title: Re: Lee Power siphoning off funds
Post by: garethgillman on Monday, October 31, 2016, 17:56:28
The club has a long term lease at a low rent.  The club wouldn't get ownership in any sale, and he's got some plans with the rest of the land for himself.

I am going off what was said on his radio interview when he announced the training ground, his words were "peppercorn rate" and "sold to the new owner"....

Unless he has the intention of raising the rent once the club is sold, I can't see why he would want to keep hold of it?


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Monday, October 31, 2016, 19:17:33
I know that but if Power saw how he could turn it around, anyone with an STFC interest would have as well, but they wouldn't have the connections he does. The usual facebook lot keep saying put up for sale and someone will come forward, but every other time we have gone up for sale, there hasn't ever been big interest.....

It also needed cold hard cash which is why Power was drafted in, Jed had neither pot nor piss to put in it, and when mixed with debts and the scale of contracts handed out in the Di Canio era it was always going to need someone to take a punt (something I have a small grudging thank you to Jed for doing as the alternative was administration and possible oblivion! I also admire Jed for his efforts to get Roooooaaaarrrr greater use in the English language!).

Finding a STFC fan with the money needed to move the club forward (and the thickness of skin to put up with the dog abuse which comes with it) seems ever more distant.


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Monday, October 31, 2016, 19:18:57
I am going off what was said on his radio interview when he announced the training ground, his words were "peppercorn rate" and "sold to the new owner"....

Unless he has the intention of raising the rent once the club is sold, I can't see why he would want to keep hold of it?

 I suspect that the 'community' element of the clubs training ground may be something of a sweetener (in planning terms 'public benefit') to smooth the progress of his other aspirations.


Title: Re: Lee Power siphoning off funds
Post by: RobertT on Monday, October 31, 2016, 19:25:29
and I think he meant ensuring that the entitlement to the lease is transferred with the club, not that he'd give up freehold.


Title: Re: Lee Power siphoning off funds
Post by: theakston2k on Monday, October 31, 2016, 19:50:23
It also needed cold hard cash which is why Power was drafted in, Jed had neither pot nor piss to put in it, and when mixed with debts and the scale of contracts handed out in the Di Canio era it was always going to need someone to take a punt (something I have a small grudging thank you to Jed for doing as the alternative was administration and possible oblivion! I also admire Jed for his efforts to get Roooooaaaarrrr greater use in the English language!).

Finding a STFC fan with the money needed to move the club forward (and the thickness of skin to put up with the dog abuse which comes with it) seems ever more distant.
If I ever had the money I wouldn't even entertain the thought of buying the club, not worth the hassle and all the abuse you would get during a poor season. You couldn't have any real hands on role as you would make decisions from the heart rather than the head which when dealing with business is a recipe for disaster.
An absolute thankless task and I'd probably end up reading social media and banning people out of spite!


Title: Re: Lee Power siphoning off funds
Post by: chalkies_shorts on Monday, October 31, 2016, 20:13:59
If you had the money you'd be better off buying the Scum. Every bit of abuse would be music to my ears.


Title: Re: Lee Power siphoning off funds
Post by: Ells on Monday, October 31, 2016, 22:31:47
If you had the money you'd be better off buying the Scum. Every bit of abuse would be music to my ears.

I just started thinking about this. If you deliberately bought a club like that and tried your hardest to be deliberately incompetent and fuckwitted, do you think you could actually be any worse than Jed?

I don't think you could  :hmmm:


Title: Re: Lee Power siphoning off funds
Post by: axs on Monday, October 31, 2016, 22:38:50
I can't see us ever getting a new stadia.

We only need one. A stadium.


Title: Re: Lee Power siphoning off funds
Post by: JoeMezz on Monday, October 31, 2016, 22:44:00
I just started thinking about this. If you deliberately bought a club like that and tried your hardest to be deliberately incompetent and fuckwitted, do you think you could actually be any worse than Jed?

I don't think you could  :hmmm:

ROOOAAARRR


Title: Re: Lee Power siphoning off funds
Post by: Berniman on Tuesday, November 1, 2016, 10:52:22
I know that but if Power saw how he could turn it around, anyone with an STFC interest would have as well, but they wouldn't have the connections he does. The usual facebook lot keep saying put up for sale and someone will come forward, but every other time we have gone up for sale, there hasn't ever been big interest.....

I have seen your posts on the FB page..  Word of advice, don't bother.  If you have any other opinion other than Power out, Power is a crook, Power is bleeding the club dry then you will just be told to fuck off and play with your playstation..

They don't seem to get the fact that at this present time, Power out means the end of STFC, unless there is a rich investor that we are unaware of..

As much as I don't trust Power one bit, they are too dense to realise what they are actually asking for...  which is STFC probably into administration and then liquidation..


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Tuesday, November 1, 2016, 11:24:23
I have seen your posts on the FB page..  Word of advice, don't bother.  If you have any other opinion other than Power out, Power is a crook, Power is bleeding the club dry then you will just be told to fuck off and play with your playstation..

They don't seem to get the fact that at this present time, Power out means the end of STFC, unless there is a rich investor that we are unaware of..

As much as I don't trust Power one bit, they are too dense to realise what they are actually asking for...  which is STFC probably into administration and then liquidation..

Yeah but at least by their twisted logic they could say 'I told you so'!


Title: Re: Lee Power siphoning off funds
Post by: Arriba on Tuesday, November 1, 2016, 13:01:24
If power walked out it wouldn't mean the end. When was the time a league club ceased to be?
someone else would just take over. Worst case scenario is building again from scratch. Would that be such a disaster?


Title: Re: Lee Power siphoning off funds
Post by: Don Rogers Sock on Tuesday, November 1, 2016, 13:02:55
If power walked out it wouldn't mean the end. When was the time a league club ceased to be?
someone else would just take over. Worst case scenario is building again from scratch. Would that be such a disaster?

Would defeat the object though wouldn't it.


Title: Re: Lee Power siphoning off funds
Post by: Batch on Tuesday, November 1, 2016, 13:08:46
Worst case scenario is building again from scratch. Would that be such a disaster?

Yup, for me anyway. Not interested in years of non-league Wimbledon style recovery under those circumstances. may as well pop off to Supermarine.


Title: Re: Lee Power siphoning off funds
Post by: Flashheart on Tuesday, November 1, 2016, 13:12:05
What would starting from scratch actually achieve?


Title: Re: Lee Power siphoning off funds
Post by: Arriba on Tuesday, November 1, 2016, 13:18:02
Would defeat the object though wouldn't it.

I don't think it will happen. Just the worst thing that could.

Yup, for me anyway. Not interested in years of non-league Wimbledon style recovery under those circumstances. may as well pop off to Supermarine.

I dont think you have to worry about that.


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Tuesday, November 1, 2016, 13:18:05
If power walked out it wouldn't mean the end. When was the time a league club ceased to be?
someone else would just take over. Worst case scenario is building again from scratch. Would that be such a disaster?


There's been a few like Scarborough, Rushden and Diamonds, Darlington, who've effectively disappeared. They then reform at a suitable non league level. Locally both Trowbridge Town and Salisbury have got up to Conference level, to crash and burn.

I'm not sure the will exists any longer amongst the fan base....it's the logical product of the complete erosion of the historic bond between fans and club.

Given that Supermarine are a viable option, it may make more sense for those with a passion for starting again down the pyramid....to put their time and effort in to them.


Title: Re: Lee Power siphoning off funds
Post by: Panda Paws on Tuesday, November 1, 2016, 13:26:14


Given that Supermarine are a viable option, it may make more sense for those with a passion for starting again down the pyramid....to put their time and effort in to them.

Yeah but then they wouldn't have got their Swindon back....


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Tuesday, November 1, 2016, 13:27:07
What would starting from scratch actually achieve?

Means we could have these circular arguments about different people that the fan base can confirm without doubt are fleecing our club and supporters??


Title: Re: Lee Power siphoning off funds
Post by: Arriba on Tuesday, November 1, 2016, 13:28:39
There's been a few like Scarborough, Rushden and Diamonds, Darlington, who've effectively disappeared. They then reform at a suitable non league level. Locally both Trowbridge Town and Salisbury have got up to Conference level, to crash and burn.

I'm not sure the will exists any longer amongst the fan base....it's the logical product of the complete erosion of the historic bond between fans and club.

Given that Supermarine are a viable option, it may make more sense for those with a passion for starting again down the pyramid....to put their time and effort in to them.
Not if they're Swindon town supporters it isn't.
The club would rebuild with a healthy fan base for sure. We'd lose some,but likewise would get others back.


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Tuesday, November 1, 2016, 14:06:42
Not if they're Swindon town supporters it isn't.
The club would rebuild with a healthy fan base for sure. We'd lose some,but likewise would get others back.

I know you don't go any longer Arriba, and haven't for a while, think you might be shocked at the level of disconnect if you did.


Title: Re: Lee Power siphoning off funds
Post by: Arriba on Tuesday, November 1, 2016, 14:22:51
I know you don't go any longer Arriba, and haven't for a while, think you might be shocked at the level of disconnect if you did.
Yeah, ive not been to a game this season and cant see that changing. I cant blame Power or Williams for it either.
I hear how shit it is though. I can see from the highlights( cough) how awful the side is and the clear frailties.


Title: Re: Lee Power siphoning off funds
Post by: chalkies_shorts on Tuesday, November 1, 2016, 14:30:44
Yeah, ive not been to a game this season and cant see that changing. I cant blame Power or Williams for it either.
I hear how shit it is though. I can see from the highlights( cough) how awful the side is and the clear frailties.

That's part of the disconnect. Everyone can see what needs improving on the pitch but fuck all is done. First you get angry, then you shake your head, then you shrug your shoulders, then you walk away. I'm still shrugging my shoulders but it's fucking tough sitting through the total predictable turgid boring shit when we attack let alone the total fuck ups and lack of anything resembling organisation or giving a fuck when we laughably try and keep the ball out of net


Title: Re: Lee Power siphoning off funds
Post by: garethgillman on Tuesday, November 1, 2016, 14:41:23
I have seen your posts on the FB page..  Word of advice, don't bother.  If you have any other opinion other than Power out, Power is a crook, Power is bleeding the club dry then you will just be told to fuck off and play with your playstation..

They don't seem to get the fact that at this present time, Power out means the end of STFC, unless there is a rich investor that we are unaware of..

As much as I don't trust Power one bit, they are too dense to realise what they are actually asking for...  which is STFC probably into administration and then liquidation..

Yep, you can't have any opinion except that Power is a crook even when there is NO evidence he has done anything wrong and if he was that bad, an ex-employee would have come forward over the years and ratted him out to companies house so he can't be a director of a company.

I prefer to give someone the benefit of the doubt, the UK law system is innocent until proven guilty but I can see their views as his history isn't great when you look at it, but when you look at it in more detail, it all adds up / is clearer.

Hey ho, it's all fun banter most of the time :)


Title: Re: Lee Power siphoning off funds
Post by: Arriba on Tuesday, November 1, 2016, 14:41:34
That's part of the disconnect. Everyone can see what needs improving on the pitch but fuck all is done. First you get angry, then you shake your head, then you shrug your shoulders, then you walk away. I'm still shrugging my shoulders but it's fucking tough sitting through the total predictable turgid boring shit when we attack let alone the total fuck ups and lack of anything resembling organisation or giving a fuck when we laughably try and keep the ball out of net

Won't change until the owner does. Even then people wouldnt be happy for one reason or another.


Title: Re: Lee Power siphoning off funds
Post by: garethgillman on Tuesday, November 1, 2016, 14:44:14
If power walked out it wouldn't mean the end. When was the time a league club ceased to be?
someone else would just take over. Worst case scenario is building again from scratch. Would that be such a disaster?


How would the club be able to get a team together?
How would they be able to pay the rent on the ground when we are in national league or lower?
How would the staff who run the club get new jobs?

Unless there is a mystery fan owner with £10m burning holes in their bank account, we have no other option apart from Power, who else would want to run a L1 club which has no assets, a stadium which is falling apart and a team which is thread bare because it's been cut to the bone?


Title: Re: Lee Power siphoning off funds
Post by: Arriba on Tuesday, November 1, 2016, 14:55:26
How would the club be able to get a team together?
How would they be able to pay the rent on the ground when we are in national league or lower?
How would the staff who run the club get new jobs?

Unless there is a mystery fan owner with £10m burning holes in their bank account, we have no other option apart from Power, who else would want to run a L1 club which has no assets, a stadium which is falling apart and a team which is thread bare because it's been cut to the bone?

History tells us someone would take over if Power wanted out.
He's just the latest in a long line of em.


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Tuesday, November 1, 2016, 14:55:52
How would the club be able to get a team together?
How would they be able to pay the rent on the ground when we are in national league or lower?
How would the staff who run the club get new jobs?

Unless there is a mystery fan owner with £10m burning holes in their bank account, we have no other option apart from Power, who else would want to run a L1 club which has no assets, a stadium which is falling apart and a team which is thread bare because it's been cut to the bone?

I think a lot of people are now assuming, that it will be Power who'll take us into non league.....much the same way as Kassam did with Oxford, and so it will be Power who needs to address those issues.  Kassam wanted to make money, Power wants to make money.


Title: Re: Lee Power siphoning off funds
Post by: Tails on Tuesday, November 1, 2016, 15:06:35
Everyone wants to make money.


Title: Re: Lee Power siphoning off funds
Post by: ChalkyWhiteIsGod on Tuesday, November 1, 2016, 15:06:44
History tells us someone would take over if Power wanted out.
He's just the latest in a long line of em.

This.


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Tuesday, November 1, 2016, 15:39:46
I think a lot of people are now assuming, that it will be Power who'll take us into non league.....much the same way as Kassam did with Oxford, and so it will be Power who needs to address those issues.  Kassam wanted to make money, Power wants to make money.

Kassam built a three sided stadium and through that process is making some money by screwing the club for money, despite also selling the club, Power bought a club with no assets, no real estate and no prospect of either, I suspect he is unlikely to achieve his objective, if that is his sole objective?


Title: Re: Lee Power siphoning off funds
Post by: Don Rogers Sock on Tuesday, November 1, 2016, 15:52:17
Kassam built a three sided stadium and through that process is making some money by screwing the club for money, despite also selling the club, Power bought a club with no assets, no real estate and no prospect of either, I suspect he is unlikely to achieve his objective, if that is his sole objective?
Exactly. Some seem to think that he will screw us on the training ground when/if he leaves. The club won't HAVE to train there will they so won't be screwed on that surely.It's how much he charges us while in charge we need to look at.


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Tuesday, November 1, 2016, 15:55:06
Kassam built a three sided stadium and through that process is making some money by screwing the club for money, despite also selling the club, Power bought a club with no assets, no real estate and no prospect of either, I suspect he is unlikely to achieve his objective, if that is his sole objective?

Strictly speaking Kassam finished building the 3 sided ground that a previous regime had begun then abandoned. Such was the level of gratitude shown by the people of Oxford, for saving the club, he was given an honorary degree.

Power is no Kassam, we know his model is to produce players and then sell on, here is the present disconnect, the model has broken down, we're left with an inadequate squad for Div 3, and nothing to sell.

I don't suppose it escaped Power's notice that Oxford got decent bucks for Roofe, after 1 season in Div 4, and a sizeable fee for the Irish kid who came through their youths, despite him playing his early years in the non league.  In other words, no real incentive to try and stay in Div 3 when Div 4 fits the model just as well.


Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Tuesday, November 1, 2016, 15:59:23
He must be making/has made money owning STFC otherwise he wouldn't be here. He's hardly the altruistic type.

He has got the golf course out of it. If we are, as Power says, running sustainably and he adjusts the budget according to incomings anything over and above what is needed to cover costs is money in his pocket.

He has lent the club money which will attract interest at a rate unknown. He may well take a % out of any player sales.

He's the owner and can structure his financials to suit.


Title: Re: Lee Power siphoning off funds
Post by: Don Rogers Sock on Tuesday, November 1, 2016, 16:02:49
He must be making/has made money owning STFC otherwise he wouldn't be here. He's hardly the altruistic type.

He has got the golf course out of it. If we are, as Power says, running sustainably and he adjusts the budget according to incomings anything over and above what is needed to cover costs is money in his pocket.

He has lent the club money which will attract interest at a rate unknown. He may well take a % out of any player sales.

He's the owner and can structure his financials to suit.
This is what confuses me. Who bought the Land, Power or the club.


Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Tuesday, November 1, 2016, 16:05:08
Power bought the golf course. Whether that was from funds from player sales, who knows.

The club gets a (rented) training ground. Power is both tenant and landlord.


Title: Re: Lee Power siphoning off funds
Post by: RobertT on Tuesday, November 1, 2016, 16:22:38


and nothing to sell.


Well, that's not true is it, even you are engaged on a discussion about the inevitable sale of our keeper.  Thompson is probably worth a few quid and Goddard may be with some more games under his belt at this level.

You are right on one thing, league level doesn't break the model - he's bringing in younger players, so even if one in ten is the success rate, they have value.  Bringing in older players at this level means zero resale value even if they are good, generally speaking.  So we can be bad as a team and still have some assets to realize under this model.


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Tuesday, November 1, 2016, 16:27:48
Power bought the golf course. Whether that was from funds from player sales, who knows.

The club gets a (rented) training ground. Power is both tenant and landlord.

Which is very common in business. As I have said before on the Planning Application Swindon Town FC are the applicant and they have completed the certificate that states they are the owners of the land, although there is nothing to stop it being moved into another Power controlled company, for instance Seebeck or Swinton Reds or perhaps another vehicle, for instance RACING AHEAD WEEKEND LIMITED which is also registered at the County Ground?

If he is to be believed Power is charging the club a peppercorn for the training ground rent so he isn't going to make cash that way, as I touched upon before I wonder whether this is the first attractive part of a wider scheme to develop the site for racing purpose, playing on the community angle of the club - perhaps that's where the money is to be made?


Title: Re: Lee Power siphoning off funds
Post by: Samdy Gray on Tuesday, November 1, 2016, 16:31:37
Power owns the land. He paid £1,300,000.


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Tuesday, November 1, 2016, 16:32:25
Well, that's not true is it, even you are engaged on a discussion about the inevitable sale of our keeper.  Thompson is probably worth a few quid and Goddard may be with some more games under his belt at this level.

You are right on one thing, league level doesn't break the model - he's bringing in younger players, so even if one in ten is the success rate, they have value.  Bringing in older players at this level means zero resale value even if they are good, generally speaking.  So we can be bad as a team and still have some assets to realize under this model.

My point about the keeper was that as a rule they don't fetch much in the market....Nathan is out of contract in the summer so will leave for free.

Goddard has a lot to do.....he's supposed to provide goals from midfield, he may make it, but not there yet.


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Tuesday, November 1, 2016, 16:33:56
Power owns the land. He paid £1,300,000.

So obviously he should not expect to recoup any of that investment, that's how it works isn't it?


Title: Re: Lee Power siphoning off funds
Post by: Batch on Tuesday, November 1, 2016, 16:57:10
Quote from: Don Rogers Sock
Quote
Kassam built a three sided stadium and through that process is making some money by screwing the club for money, despite also selling the club, Power bought a club with no assets, no real estate and no prospect of either, I suspect he is unlikely to achieve his objective, if that is his sole objective?
Exactly. Some seem to think that he will screw us on the training ground when/if he leaves. The club won't HAVE to train there will they so won't be screwed on that surely.It's how much he charges us while in charge we need to look at.


well, they might have to train there (or at least pay), depends on whatever contract he leaves us with.


Title: Re: Lee Power siphoning off funds
Post by: Batch on Tuesday, November 1, 2016, 17:00:37
Quote from: horlock07
Quote
Power owns the land. He paid £1,300,000.
So obviously he should not expect to recoup any of that investment, that's how it works isn't it?


 obviously he should. As DRS says, the only concern is how much he charges us. There is clearly a potential for a conflict of interest, DSM style.

With luck he sticks with peppercorn rent, makes a mint on the rest of the land and everyone is happy. I'd settle for market rates!


Title: Re: Lee Power siphoning off funds
Post by: garethgillman on Tuesday, November 1, 2016, 17:05:10
So obviously he should not expect to recoup any of that investment, that's how it works isn't it?


 obviously he should. As DRS says, the only concern is how much he charges us. There is clearly a potential for a conflict of interest, DSM style.

With luck he sticks with peppercorn rent, makes a mint on the rest of the land and everyone is happy. I'd settle for market rates!

The proof is in the pudding as they say, but we will never know what is being paid but he is on radio saying it will be peppercorn rate, from what I can work out he is using the rest of the land for his own interests so that's where he will make the money from, the club will likely be paying for the fit out of the land for it's use so realistically the club got free land which they rent cheaply as Power can then use the rest of the land for what he wants (horse stables and housing are widely tipped).


Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Tuesday, November 1, 2016, 17:19:08
He wont get much from stables unless he's just indulging a passion.

Housing would be mega-bucks if could get permission on the green belt between Highworth/Lechlade. Unlikely in the short term - if at all.


Title: Re: Lee Power siphoning off funds
Post by: garethgillman on Tuesday, November 1, 2016, 17:20:39
He wont get much from stables unless he's just indulging a passion.

Housing would be mega-bucks if could get permission on the green belt between Highworth/Lechlade. Unlikely in the short term - if at all.

He has horses of his own so would be somewhere to keep them / train them I bet, unlikely to be sold for money


Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Tuesday, November 1, 2016, 17:23:19
Got a few donkeys at the club, too!


Title: Re: Lee Power siphoning off funds
Post by: Tails on Tuesday, November 1, 2016, 20:14:35
He wont get much from stables unless he's just indulging a passion.

Housing would be mega-bucks if could get permission on the green belt between Highworth/Lechlade. Unlikely in the short term - if at all.

A lot of money to be made from stables....


Title: Re: Lee Power siphoning off funds
Post by: ronnie21 on Tuesday, November 1, 2016, 20:23:51
He has horses of his own so would be somewhere to keep them / train them I bet, unlikely to be sold for money
PMSL  No facilities for gallops there, wouldn't be big enough for training facilities even without the footy pitches!  Possibly somewhere for him to keep retired or holidaying horses.  More than likely to become a livery yard or something along those lines.


Title: Re: Lee Power siphoning off funds
Post by: Mother Brown on Tuesday, November 1, 2016, 21:24:29
PMSL  No facilities for gallops there, wouldn't be big enough for training facilities even without the footy pitches!  Possibly somewhere for him to keep retired or holidaying horses.  More than likely to become a livery yard or something along those lines.
A bit like The High Chaparral then.


Title: Re: Lee Power siphoning off funds
Post by: ron dodgers on Wednesday, November 2, 2016, 01:27:38
He has horses of his own so would be somewhere to keep them / train them I bet, unlikely to be sold for money
has he? where are they based?


Title: Re: Lee Power siphoning off funds
Post by: ronnie21 on Wednesday, November 2, 2016, 08:45:38
has he? where are they based?
He does own at least one racehorse, it did win recently!!  Obviously stabled at his trainer's premises.  I am sure I read somewhere he also has property in the Faringdon area!


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Wednesday, November 2, 2016, 09:14:22
He does own at least one racehorse, it did win recently!!  Obviously stabled at his trainer's premises.  I am sure I read somewhere he also has property in the Faringdon area!

He is the sole director of Power Bloodstock Ltd which operates in association with racehorse ownership, accounts do not have any details of how many horses are involved?


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Wednesday, November 2, 2016, 09:23:50
He does own at least one racehorse, it did win recently!!  Obviously stabled at his trainer's premises.  I am sure I read somewhere he also has property in the Faringdon area!

I've never managed to figure out how Power makes his money. 

Historically, you knew how chairmen/owners/directors earned their crust, even before the wonders of the internet age.  So, Wilf Castle, loaves and lardies; Eric Lane, chops and chitterlings; Piggy Williams, farmer; Dick Mattick, teacher and porn star;

Brian Hillier, Calne based unisex hairdressing salon; Willie Carson, jockey and annoying little shit; Bob Holt, old colonial fixer, handy v Mau Mau.

SSW, married into money;  Andrew Black, Betfair; Callum Rice, Bourne Supremacy and did the cruises.

But Power  :hmmm:


Title: Re: Lee Power siphoning off funds
Post by: Saxondale on Wednesday, November 2, 2016, 09:32:44
Lee Power - Investments.  Symptom of the modern age, if you have money you can make money.  You don't need to produce anything or have any talent just put the money in the right places. 

Mind you who knows if he has any money.  According to the internet he had no money but has made by selling all our players and stealing the massive amount of money STFC produce.


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Wednesday, November 2, 2016, 09:43:53
I've never managed to figure out how Power makes his money. 

Historically, you knew how chairmen/owners/directors earned their crust, even before the wonders of the internet age.  So, Wilf Castle, loaves and lardies; Eric Lane, chops and chitterlings; Piggy Williams, farmer; Dick Mattick, teacher and porn star;

Brian Hillier, Calne based unisex hairdressing salon; Willie Carson, jockey and annoying little shit; Bob Holt, old colonial fixer, handy v Mau Mau.

SSW, married into money;  Andrew Black, Betfair; Callum Rice, Bourne Supremacy and did the cruises.

But Power  :hmmm:

Woah... back up a little bit.... Dick Mattick, teacher and porn star????


Title: Re: Lee Power siphoning off funds
Post by: Sippo on Wednesday, November 2, 2016, 09:46:46
Power is a cockney geezer who is pwoper nawty...


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Wednesday, November 2, 2016, 09:47:55
Lee Power - Investments.  Symptom of the modern age, if you have money you can make money.  You don't need to produce anything or have any talent just put the money in the right places. 

Like  Panama, The Cayman Islands, Bahamas etc much loved of leading Tories. Also dodgy film investment vehicles, much loved of STFC's local MP, Robert Buckland....

http://www.thesundaytimes.co.uk/sto/news/uk_news/National/article1516677.ece?shareToken=7dce6c941e3af81d49a201a58a2a1d60

I guess Power is a Switzerland man.....football and The Gnomes of Zurich seem to go together like Blatter and Platini.


Title: Re: Lee Power siphoning off funds
Post by: ronnie21 on Wednesday, November 2, 2016, 09:57:28
Money can come from unexpected sources, I know somebody who 30 years ago ran his own one-man band cleaning company and didn't have two pence to rub along with - in fact he got a reputation for rubber cheques!!  Ten years ago an elderly relative died and he inherited 10 properties in North London - now they have his and hers range rovers, expanded the business greatly and managed to persuade the National Trust to sell him two tumble down farm cottages and 10 acres of land!!  He now lives in a superb house set in 10 acres of land in deepest Somerset!!  He'll tell you his biggest achievement was persuading the NT to sell those cottages and land, even if he did have to convert them as to their specifications!


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Wednesday, November 2, 2016, 10:12:17
Power is a cockney geezer who is pwoper nawty...

Isn't he Irish?


Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Wednesday, November 2, 2016, 10:19:19
I've never managed to figure out how Power makes his money. 

Historically, you knew how chairmen/owners/directors earned their crust, even before the wonders of the internet age.  So, Wilf Castle, loaves and lardies; Eric Lane, chops and chitterlings; Piggy Williams, farmer; Dick Mattick, teacher and porn star;

Brian Hillier, Calne based unisex hairdressing salon; Willie Carson, jockey and annoying little shit; Bob Holt, old colonial fixer, handy v Mau Mau.

SSW, married into money;  Andrew Black, Betfair; Callum Rice, Bourne Supremacy and did the cruises.

But Power  :hmmm:
Don't forget he is big muckers with Charlie Richardson - the odd bank job here, jewel heist there. It all adds up.


Title: Re: Lee Power siphoning off funds
Post by: Sippo on Wednesday, November 2, 2016, 10:21:50
Isn't he Irish?

See that's what he wants you to think...

He's an evil evil man.


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Wednesday, November 2, 2016, 10:47:22
Woah... back up a little bit.... Dick Mattick, teacher and porn star????

Well it's a great name for a porn star.....bit like Teresa May.


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Wednesday, November 2, 2016, 10:51:46
Don't forget he is big muckers with Charlie Richardson - the odd bank job here, jewel heist there. It all adds up.

Didn't Charlie Richardson die about 5 years back?


Title: Re: Lee Power siphoning off funds
Post by: Peter Venkman on Wednesday, November 2, 2016, 11:11:11
Didn't Charlie Richardson die about 5 years back?
I think he means Eddie Richardson.


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Wednesday, November 2, 2016, 11:46:46
I think he means Eddie Richardson.

Or possibly James Richardson?


Title: Re: Lee Power siphoning off funds
Post by: Sippo on Wednesday, November 2, 2016, 11:49:40
Kieran?


Title: Re: Lee Power siphoning off funds
Post by: Peter Venkman on Wednesday, November 2, 2016, 11:55:12
Or possibly James Richardson?
Eddie Richardson was the "gangster" seen with Lee Power at the Millwall game.

http://www.dailymail.co.uk/sport/football/article-3285132/Riddle-Clive-Oliver-s-County-FA-exit-Jose-Mourinho-persists-dodgy-ground.html


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Wednesday, November 2, 2016, 12:34:49
Eddie Richardson was the "gangster" seen with Lee Power at the Millwall game.

http://www.dailymail.co.uk/sport/football/article-3285132/Riddle-Clive-Oliver-s-County-FA-exit-Jose-Mourinho-persists-dodgy-ground.html

Ooooh, don't link to the Mail on here, you will be in trouble for doing it!


Title: Re: Lee Power siphoning off funds
Post by: lambourn red on Wednesday, November 2, 2016, 12:38:50
has he? where are they based?

He quite often frequents Lambourn he used to have some horses at a yard in Lambourn but I think it went bust not too sure what happened, he is still friends with the landlord of the George in Lambourn and that is where you will find him now and again.


Title: Re: Lee Power siphoning off funds
Post by: Power to people on Wednesday, November 2, 2016, 12:39:59
Waterford are making announcements tomorrow, Power cant be talking to anyone as usually he seems to allow the radio to get in on the scoop of anything that is going on, although he hasn't done his 'Power hour' since they allowed on the caller that gave him stick so maybe they are not as best buddies anymore.

Let's hope things get put to bed and if he is involved then there are announcements this end of how he intends to run both clubs and divide his time. Although they could just as well announce they have been taken over by a consortium and not name any names.


Title: Re: Lee Power siphoning off funds
Post by: bathford on Wednesday, November 2, 2016, 12:44:59
I came past the Highworth training ground a few weeks ago and there was a white horse box with 'Power' on it parked up in the Car Park.


Title: Re: Lee Power siphoning off funds
Post by: bathford on Wednesday, November 2, 2016, 12:46:23
It has been mentioned before that maybe the Irish club would be a feeder club for us. Are we sure it isn't the other way around?


Title: Re: Lee Power siphoning off funds
Post by: leftside on Wednesday, November 2, 2016, 12:52:28
Money can come from unexpected sources, I know somebody who 30 years ago ran his own one-man band cleaning company and didn't have two pence to rub along with - in fact he got a reputation for rubber cheques!!  Ten years ago an elderly relative died and he inherited 10 properties in North London - now they have his and hers range rovers, expanded the business greatly and managed to persuade the National Trust to sell him two tumble down farm cottages and 10 acres of land!!  He now lives in a superb house set in 10 acres of land in deepest Somerset!!  He'll tell you his biggest achievement was persuading the NT to sell those cottages and land, even if he did have to convert them as to their specifications!
You mean he polished cymbols and kazoos and the like...?


Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Wednesday, November 2, 2016, 12:55:30
You mean he polished cymbols and kazoos and the like...?
Pmsl! Nice one!


Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Wednesday, November 2, 2016, 13:01:54
I came past the Highworth training ground a few weeks ago and there was a white horse box with 'Power' on it parked up in the Car Park.
(http://i1372.photobucket.com/albums/ag351/rickrose1204/Mobile%20Uploads/hqdefault_zpscbvmvecf.jpg) (http://s1372.photobucket.com/user/rickrose1204/media/Mobile%20Uploads/hqdefault_zpscbvmvecf.jpg.html)


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Wednesday, November 2, 2016, 13:21:27
(http://i1372.photobucket.com/albums/ag351/rickrose1204/Mobile%20Uploads/hqdefault_zpscbvmvecf.jpg) (http://s1372.photobucket.com/user/rickrose1204/media/Mobile%20Uploads/hqdefault_zpscbvmvecf.jpg.html)

He races Shetland Ponies?


Title: Re: Lee Power siphoning off funds
Post by: Tails on Wednesday, November 2, 2016, 13:32:52
It has been mentioned before that maybe the Irish club would be a feeder club for us. Are we sure it isn't the other way around?

BANTER


Title: Re: Lee Power siphoning off funds
Post by: ChalkyWhiteIsGod on Wednesday, November 2, 2016, 13:53:20
I've never managed to figure out how Power makes his money. 

Historically, you knew how chairmen/owners/directors earned their crust, even before the wonders of the internet age.  So, Wilf Castle, loaves and lardies; Eric Lane, chops and chitterlings; Piggy Williams, farmer; Dick Mattick, teacher and porn star;

Brian Hillier, Calne based unisex hairdressing salon; Willie Carson, jockey and annoying little shit; Bob Holt, old colonial fixer, handy v Mau Mau.

SSW, married into money;  Andrew Black, Betfair; Callum Rice, Bourne Supremacy and did the cruises.

But Power  :hmmm:

 :clap: :Ride On Fatbury's Lovestick:


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Wednesday, November 2, 2016, 14:50:55
All this talk of former owners/directors reminds me....

Sir William Patey made it into Private Eye last week due to the activities of HSBC in Saudi Arabia, Patey has at on the board of HSBC Middle East since 2012 and prior to that was Ambassador to Riyadh who signed off a lucrative communications contract complete with commissions passing through HSBC, apparently its a small world?


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Wednesday, November 2, 2016, 14:58:36
I've never managed to figure out how Power makes his money. 

Historically, you knew how chairmen/owners/directors earned their crust, even before the wonders of the internet age.  So, Wilf Castle, loaves and lardies; Eric Lane, chops and chitterlings; Piggy Williams, farmer; Dick Mattick, teacher and porn star;

Brian Hillier, Calne based unisex hairdressing salon; Willie Carson, jockey and annoying little shit; Bob Holt, old colonial fixer, handy v Mau Mau.

SSW, married into money;  Andrew Black, Betfair; Callum Rice, Bourne Supremacy and did the cruises.

But Power  :hmmm:

I could not remember the history of Wills cash, but recalled it had been discussed on here before. A quick search threw up this http://thetownend.com/index.php?topic=16261.0

Sadly of lot of the posts seem to reflect the thoughts of certain fans today.


Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Wednesday, November 2, 2016, 16:23:17
Waterford are making announcements tomorrow, Power cant be talking to anyone as usually he seems to allow the radio to get in on the scoop of anything that is going on, although he hasn't done his 'Power hour' since they allowed on the caller that gave him stick so maybe they are not as best buddies anymore.

Let's hope things get put to bed and if he is involved then there are announcements this end of how he intends to run both clubs and divide his time. Although they could just as well announce they have been taken over by a consortium and not name any names.
He's definitely involved

http://www.thesun.ie/irishsol/homepage/sport/7255692/Foreign-consortium-hoping-to-complete-a-takeover-of-Waterford-United-tomorrow.html


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Wednesday, November 2, 2016, 16:50:55
He's definitely involved

http://www.thesun.ie/irishsol/homepage/sport/7255692/Foreign-consortium-hoping-to-complete-a-takeover-of-Waterford-United-tomorrow.html

Shit, I never knew he retired from playing due to Meningitis, thought it was just footballing injuries?


Title: Re: Lee Power siphoning off funds
Post by: corner on Wednesday, November 2, 2016, 16:55:58
Shit, I never knew he retired from playing due to Meningitis, thought it was just footballing injuries?
Never mind that, 44!!!


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Wednesday, November 2, 2016, 17:00:22
Never mind that, 44!!!

I wonder whether the two are linked?


Title: Re: Lee Power siphoning off funds
Post by: corner on Wednesday, November 2, 2016, 17:11:44
Do you mind if I pm you horlock?


Title: Re: Lee Power siphoning off funds
Post by: Don Rogers Sock on Wednesday, November 2, 2016, 17:12:29
No dick pics


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Wednesday, November 2, 2016, 17:13:21
Do you mind if I pm you horlock?

Feel free, but don't expect any manner of insight etc I know nothing about a great deal.


Title: Re: Lee Power siphoning off funds
Post by: Peter Venkman on Wednesday, November 2, 2016, 17:14:21
No dick pics
Spoilsport.

here my dick pic.

(http://static1.businessinsider.com/image/56d75be06e97c621048bb0b5-480/donald-trump.jpg)


Title: Re: Lee Power siphoning off funds
Post by: corner on Wednesday, November 2, 2016, 17:16:32
 :D


Title: Re: Lee Power siphoning off funds
Post by: Tails on Wednesday, November 2, 2016, 17:29:39
No dick pics

You've changed your tune


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Wednesday, November 2, 2016, 17:55:44
From the pictures in the PM I can confirm that Corner has a lovely dick....  :D

Got your PM, will reply in the morning as had enough today!


Title: Re: Lee Power siphoning off funds
Post by: corner on Wednesday, November 2, 2016, 17:57:41
From the pictures in the PM I can confirm that Corner has a lovely dick....  :D

Got your PM, will reply in the morning as had enough today!
Thanks mate much appreciated  :gay:


Title: Re: Lee Power siphoning off funds
Post by: Ells on Wednesday, November 2, 2016, 19:24:34
Can someone forward me these pictures please


Title: Re: Lee Power siphoning off funds
Post by: Posh Red on Wednesday, November 2, 2016, 20:21:44
Can someone forward me these pictures please

Watch it, or you'll be getting special pics from Talk Talk


Title: Re: Lee Power siphoning off funds
Post by: Mother Brown on Wednesday, November 2, 2016, 21:23:37
Or possibly James Richardson?
Frecin Sandy Richardson more like.


Title: Re: Lee Power siphoning off funds
Post by: Ells on Wednesday, November 2, 2016, 23:34:40
Watch it, or you'll be getting special pics from Talk Talk

I can't have sex for 2 weeks, it'll have to do.




*even for me that joke is disgusting


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Thursday, November 3, 2016, 00:42:32
Frecin Sandy Richardson more like.

A Crossroads reference? 

I think more of Brian Richardson, who was a not very good wing half signed by Danny Williams, he didn't get them all right, nevertheless, Brian did play the first match at The Manor. Then Paul Richardson, who I believe was part of Ken Beamish's coaching set up, but ended up playing a bit. Paul I recall went on to coach Fairford Town, never sure why.

Both were crap, but would easily get into our current line up due to experience.


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Thursday, November 3, 2016, 09:26:30
Can someone forward me these pictures please

This was the image received, I think something got lost in translation.....

(https://www.rspb.org.uk/Images/malla_tcm9-17012.jpg?width=530&crop=(404,652,1684,1372))

Edit - I had to edit it as I had to refer back to the fuckwits guide to posting images again!  :-[


Title: Re: Lee Power siphoning off funds
Post by: Flashheart on Thursday, November 3, 2016, 09:29:58
Can someone forward me these pictures please

I would send some of mine, but I'm not sure the TEF's server has the bandwidth.


Title: Re: Lee Power siphoning off funds
Post by: Don Rogers Sock on Thursday, November 3, 2016, 10:17:01
I would send some of mine, but I'm not sure the TEF's server has the bandwidth.
I received it mate it is working fine.. I wouldn't of worried


Title: Re: Lee Power siphoning off funds
Post by: Flashheart on Thursday, November 3, 2016, 10:54:19
Cheers Dean x


Title: Re: Lee Power siphoning off funds
Post by: Private Fraser on Thursday, November 3, 2016, 12:25:33
Waterford are making announcements tomorrow, Power cant be talking to anyone as usually he seems to allow the radio to get in on the scoop of anything that is going on, although he hasn't done his 'Power hour' since they allowed on the caller that gave him stick so maybe they are not as best buddies anymore.

Let's hope things get put to bed and if he is involved then there are announcements this end of how he intends to run both clubs and divide his time. Although they could just as well announce they have been taken over by a consortium and not name any names.

20 Minutes ago on Waterford´s Twitter:

"Waterford United Football Club can confirm that negotiations are taking place with a overseas individual regarding a takeover of the club."

Followed by:

"As negotiations are ongoing the club will be making no further comment at this point."






Title: Re: Lee Power siphoning off funds
Post by: Batch on Thursday, November 3, 2016, 13:29:57
a overseas individual, a.


Title: Re: Lee Power siphoning off funds
Post by: garethgillman on Thursday, November 3, 2016, 13:37:34
Am I petty for noticing the big spelling mistake?

"a overseas" should be "an overseas"....

Until Power comes out and explains what his intentions are for his role in the club then we will be left in limbo, it could be that he is being brought in as the face of the club and the other investors are putting the money up and doing all the leg work or that he is going to run both side by side, as realistically he doesn't have much input into Swindon as he leaves the majority of the work to the staff (Steve Anderson etc).

Who knows what is going to happen but as usual the Facebook group has gone into meltdown .......


Title: Re: Lee Power siphoning off funds
Post by: pauld on Thursday, November 3, 2016, 13:39:50
Until Power comes out and explains what his intentions are for his role in the club then we will be left in limbo, it could be that he is being brought in as the face of the club and the other investors are putting the money up and doing all the leg work
Well, he's not exactly shown himself to be very keen on being "a face" here has he? Not saying he's SSW-style shy, but public face isn't really his style. More "my way or the highway"


Title: Re: Lee Power siphoning off funds
Post by: Flashheart on Thursday, November 3, 2016, 13:41:57

Who knows what is going to happen but as usual the Facebook group has gone into meltdown .......

It's always in meltdown. It's perpetually molten.


Title: Re: Lee Power siphoning off funds
Post by: pauld on Thursday, November 3, 2016, 13:47:36
It's always in meltdown. It's perpetually molten.
Like the earth's core?


Title: Re: Lee Power siphoning off funds
Post by: Flashheart on Thursday, November 3, 2016, 13:49:14
Like the earth's core?

Exactly like the Earth's core. Molten and dense, very very dense.


Title: Re: Lee Power siphoning off funds
Post by: garethgillman on Thursday, November 3, 2016, 13:49:20
Well, he's not exactly shown himself to be very keen on being "a face" here has he? Not saying he's SSW-style shy, but public face isn't really his style. More "my way or the highway"

That's true and that's one of the things that annoys me about him, says our attendances willl impact on the budgets but then does very little PR for the club, it's getting better don't get me wrong (the club are way more active on social media lately since ASD took over) but they could be doing a lot more, if the club were more public, some of the "haters" would get on board with him more, think he needs a Jeremy Wray character who gets the fans behind the club, Black was a big recluse like Power but fans were behind the club as JW was really active.


Title: Re: Lee Power siphoning off funds
Post by: garethgillman on Thursday, November 3, 2016, 13:50:23
It's always in meltdown. It's perpetually molten.

I think it's boredom and the majority just repeat what a very small minority say...... it can be quite entertaining to read their bullshit stories though


Title: Re: Lee Power siphoning off funds
Post by: Batch on Thursday, November 3, 2016, 14:06:14
I wouldn't call power a recluse. more a ruthless bar steward.

I can't bring myself to sign up to the fb group to see what's happening today


Title: Re: Lee Power siphoning off funds
Post by: Flashheart on Thursday, November 3, 2016, 14:09:58
think he needs a Jeremy Wray character who gets the fans behind the club,

I think Wray's main skill was saying yes to PDC.


Title: Re: Lee Power siphoning off funds
Post by: garethgillman on Thursday, November 3, 2016, 14:13:32
I think Wray's main skill was saying yes to PDC.

That's true, was some good times though, Paolo definitely was entertaining.

We need someone like JW to speak to the fans imho BUT the small minority will still say that "he only says what Power tells him"..... read the Swindon Adver article this morning about Luke saying we need some changes in January, the usual comments of "why don't you fuck off" are common ....


Title: Re: Lee Power siphoning off funds
Post by: suttonred on Thursday, November 3, 2016, 14:29:51
I wouldn't call power a recluse. more a ruthless bar steward.

I can't bring myself to sign up to the fb group to see what's happening today

Just imagine the adver board banished the thick ones somewhere....


Title: Re: Lee Power siphoning off funds
Post by: RobertT on Thursday, November 3, 2016, 14:36:43
At least half the population are below average intelligence.


Title: Re: Lee Power siphoning off funds
Post by: pauld on Thursday, November 3, 2016, 14:37:55
At least half the population are below average intelligence.
Now you're just being mean


Title: Re: Lee Power siphoning off funds
Post by: jayohaitchenn on Thursday, November 3, 2016, 14:43:40
The Earth's core is solid.


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Thursday, November 3, 2016, 14:50:44
At least half the population are below average intelligence.

That is 200% incorrect!


Title: Re: Lee Power siphoning off funds
Post by: Flashheart on Thursday, November 3, 2016, 14:50:59
The Earth's core is solid.

That doesn't work as well though.


Title: Re: Lee Power siphoning off funds
Post by: RobertT on Thursday, November 3, 2016, 14:53:24
Now you're just being mean

Well, taking your pun, it's not even mean.  Probably well over half are below that, so it's worse.


Title: Re: Lee Power siphoning off funds
Post by: pauld on Thursday, November 3, 2016, 15:18:33
Well, taking your pun, it's not even mean.  Probably well over half are below that, so it's worse.
In fairness, it wasn't really designed to stand up to scrutiny :)


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Thursday, November 3, 2016, 15:20:43
Like the earth's core?

(https://upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Moulton_@_the_MoMA.jpg/275px-Moulton_@_the_MoMA.jpg)

 :bike:


Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Thursday, November 3, 2016, 15:37:08
Does anyone really give a flying one if he buys Waterford United?

He needs to be 'crystal' clear on the matter.


Title: Re: Lee Power siphoning off funds
Post by: ChalkyWhiteIsGod on Thursday, November 3, 2016, 15:42:09
That's true, was some good times though, Paolo definitely was entertaining.

That is was. It's also the reason we were left with Jed and then in turn Power and are in this position now. Worth it?


Title: Re: Lee Power siphoning off funds
Post by: Flashheart on Thursday, November 3, 2016, 15:43:04
Does anyone really give a flying one if he buys Waterford United?


Not me. Couldn't give a monkeys.


Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Thursday, November 3, 2016, 15:47:40
That is was. It's also the reason we were left with Jed and then in turn Power and are in this position now. Worth it?
Yes


Title: Re: Lee Power siphoning off funds
Post by: corner on Thursday, November 3, 2016, 16:03:35
Does anyone really give a flying one if he buys Waterford United?

He needs to be 'crystal' clear on the matter.
I'm more interested in it rather than bothered,


Title: Re: Lee Power siphoning off funds
Post by: Red Frog on Thursday, November 3, 2016, 16:27:55
I think it's boredom and the majority just repeat what a very small minority say...... it can be quite entertaining to read their bullshit stories though

A belated, if untraditional, welcome to the TEF. You always seemed a bit of a square peg in their round hole. I don't know how you stay on there. Whenever I venture back, I always have to unfollow it just to keep my blood pressure down. Like modern elections, a lot of brainless sheep are led to believe a load of baseless lies by few ignorant loudmouth bullies.


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Thursday, November 3, 2016, 16:31:10
Does anyone really give a flying one if he buys Waterford United?

He needs to be 'crystal' clear on the matter.

Yes. Power is making a pig's ear of running STFC atm, so needs to give it his full attention.


Title: Re: Lee Power siphoning off funds
Post by: Don Rogers Sock on Thursday, November 3, 2016, 17:03:56
Yes. Power is making a pig's ear of running STFC atm, so needs to give it his full attention.
Agree with Reg here a bit. It just opens up the door to more finger pointing,not that he gives a fuck.


Title: Re: Lee Power siphoning off funds
Post by: pauld on Thursday, November 3, 2016, 17:28:58
Yes. Power is making a pig's ear of running STFC atm, so needs to give it his full attention.
Conversely, if he's made that much of a pig's ear of running it, maybe we'd be better off if he gave it less attention?


Title: Re: Lee Power siphoning off funds
Post by: garethgillman on Thursday, November 3, 2016, 20:40:54
That is was. It's also the reason we were left with Jed and then in turn Power and are in this position now. Worth it?

Personally no but was fun at the time but we didn't expect Black to throw it in, Paolo to do a runner. It was fun times and some of my best games were while Paolo was manager (Wigan in the fa cup being one) but as I said a lot of times on the Facebook group, we are now paying for the last 30 years of mismanagement of the club, when an owner has to put in £4m to get the club out of the hole then something was really bad.

The football needs to improve but realistically we are in the best shape club wise than we have for many many years.


Title: Re: Lee Power siphoning off funds
Post by: garethgillman on Thursday, November 3, 2016, 20:42:51
A belated, if untraditional, welcome to the TEF. You always seemed a bit of a square peg in their round hole. I don't know how you stay on there. Whenever I venture back, I always have to unfollow it just to keep my blood pressure down. Like modern elections, a lot of brainless sheep are led to believe a load of baseless lies by few ignorant loudmouth bullies.

Thanks. Someone has to be the words of wisdom around a lot of idiots soapy tit wank....... if the football was better the fans wouldn't give a shit about who runs the club, I can see where Power wants us to be but at the moment it's not working, we need more experience but they cost money which we either don't have or he doesn't want to spend on such players


Title: Re: Lee Power siphoning off funds
Post by: Flashheart on Thursday, November 3, 2016, 20:54:50
Fuck off you cunt.


Title: Re: Lee Power siphoning off funds
Post by: garethgillman on Thursday, November 3, 2016, 21:15:29
Fuck off you cunt.

 ::) :D


Title: Re: Lee Power siphoning off funds
Post by: lambourn red on Wednesday, November 9, 2016, 22:00:30
Swindon Town have called a press conference for 1.30pm tomorrow to make a 'significant announcement'. @AdverSport have been invited #stfc

Just to add fuel a guy I know in the racing world said there  was going to be some good news at Swindon soon that was a couple of weeks ago but he would not elaborate any further


Title: Re: Lee Power siphoning off funds
Post by: suttonred on Wednesday, November 9, 2016, 22:04:18
Ooh. Suddenly a long lunch is  going to be shorter for me.


Title: Re: Lee Power siphoning off funds
Post by: Batch on Wednesday, November 9, 2016, 22:06:11
Friday statement. they're always good, right.....?


Title: Re: Lee Power siphoning off funds
Post by: JoeMezz on Wednesday, November 9, 2016, 22:11:03
Red Bull Swindon?


Title: Re: Lee Power siphoning off funds
Post by: Batch on Wednesday, November 9, 2016, 22:12:37
shit, it's Thursday tomorrow. it feels like it should be Friday.


Title: Re: Lee Power siphoning off funds
Post by: suttonred on Wednesday, November 9, 2016, 22:13:45
Swindon Town have called a press conference for 1.30pm tomorrow to make a 'significant announcement'. @AdverSport have been invited #stfc

Just to add fuel a guy I know in the racing world said there  was going to be some good news at Swindon soon that was a couple of weeks ago but he would not elaborate any further

What are we thinking then?

1) New investors

2) New manager

3) We're buying the ground?

4) New board members?

5) Something else?


Title: Re: Lee Power siphoning off funds
Post by: JoeMezz on Wednesday, November 9, 2016, 22:18:05
Expecting good news, don't know if that's just hopeful or not.

Going for new investor/owner and Power to leave..


Title: Re: Lee Power siphoning off funds
Post by: suttonred on Wednesday, November 9, 2016, 22:27:26
Expecting good news, don't know if that's just hopeful or not.

Going for new investor/owner and Power to leave..

Tut tut


Title: Re: Lee Power siphoning off funds
Post by: Batch on Wednesday, November 9, 2016, 22:31:56
What are we thinking then?

1) New investors

2) New manager

3) We're buying the ground?

4) New board members?

5) Something else?

Kind of ruled out a Zamora type signing or change of manager simply because the Adver are invited.

Timing with the Power link to the Irish club is a bit suspect, could easily be coincidence but...hmm. Perhaps he's flogged us to Harry Agombar in exchange for some Busted tickets.


Title: Re: Lee Power siphoning off funds
Post by: chalkies_shorts on Wednesday, November 9, 2016, 22:55:18
Swindon Town have called a press conference for 1.30pm tomorrow to make a 'significant announcement'. @AdverSport have been invited #stfc

Just to add fuel a guy I know in the racing world said there  was going to be some good news at Swindon soon that was a couple of weeks ago but he would not elaborate any further
Wee Willy is coming back.


Title: Re: Lee Power siphoning off funds
Post by: pauld on Thursday, November 10, 2016, 09:28:01
Wee Willy is coming back.
He said "good news"


Title: Re: Lee Power siphoning off funds
Post by: Power to people on Thursday, November 10, 2016, 10:32:07
Would he announce a tie up between stfc & Waterford to the nationals ?


Title: Re: Lee Power siphoning off funds
Post by: suttonred on Saturday, November 12, 2016, 20:40:06
A salutatory tale, and Orient didn't even ask for it..

https://www.theguardian.com/football/2016/nov/11/leyton-orient-francesco-becchetti-owner-fans


Title: Re: Re: Lee Power siphoning off funds
Post by: bigbobjoylove on Saturday, November 12, 2016, 22:06:05
A salutatory tale, and Orient didn't even ask for it..

https://www.theguardian.com/football/2016/nov/11/leyton-orient-francesco-becchetti-owner-fans
Poor Orient. Interesting to read about Darius Henderson getting £9000 a week and his agent getting £150,000. Didn't his move to Town get called off back in the day due to an agent fee?

Sent from my MotoG3


Title: Re: Lee Power siphoning off funds
Post by: Panda Paws on Saturday, November 12, 2016, 23:51:07
The 150k was actually Hendersons signing fee. His agent got 46k.


Title: Re: Lee Power siphoning off funds
Post by: suttonred on Sunday, November 13, 2016, 00:25:28
Still mental for a club that size, and lots of our fans would see no issue with us doing that. You can guarantee when their chairman leaves/ forced out, there will be massive debts, we probably got lucky with rented mercs and a dodgy catering deal.


Title: Re: Lee Power siphoning off funds
Post by: Peter Venkman on Sunday, November 13, 2016, 18:57:54
Still mental for a club that size, and lots of our fans would see no issue with us doing that. You can guarantee when their chairman leaves/ forced out, there will be massive debts, we probably got lucky with rented mercs and a dodgy catering deal.
It does indeed show the grass is not always greener with new owners even when they "splash the cash"

An interesting post on the Charlton forum after yesterdays game....

Quote
Jensenwasclass
1:05PM
Probably been mentioned before, Swindon part owner/director Lee Powers.
(We had him on loan. Played in the first game back at the Valley.
He gets Tim Sherwood!
Katrien Meire gets Slade, says it all.
Can't you take over Charlton Lee?


Title: Re:
Post by: bigbobjoylove on Sunday, November 13, 2016, 19:11:48
Slade has a pretty good record in our league though doesn't he? Certainty needs time to fine tune the team the way he wants it.

Sent from my MotoG3


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Sunday, November 13, 2016, 19:37:11
It does indeed show the grass is not always greener with new owners even when they "splash the cash"

An interesting post on the Charlton forum after yesterdays game....


Charlton's decline coincided with their fans falling out with finishing mid tableish in the Prem under Curbishley from about 2000-06. He'd been there a long time, getting them up, yo-yoing and then keeping them up.

A classic case of the grass not being greener


Title: Re: Lee Power siphoning off funds
Post by: Panda Paws on Monday, November 14, 2016, 16:13:38
Waterford ownership confirmed


Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Monday, November 14, 2016, 16:33:14
Is Billy Crystal involved?


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Monday, November 14, 2016, 16:39:59
Is Billy Crystal involved?

Sylvia Kristel  :hmmm:


Title: Re: Lee Power siphoning off funds
Post by: bathford on Monday, November 14, 2016, 16:42:52
Waterford ownership confirmed

So is this where we will be shipping our unwanted players to in Jan?


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Monday, November 14, 2016, 16:47:17
So is this where we will be shipping our unwanted players to in Jan?

I've an Irish mate, who tells me the likes of Waterford play in front of 300 or so.  It's more likely Power is trying to be a poor man's Pozzo, and Waterford and other LoI players will come this way.


Title: Re: Lee Power siphoning off funds
Post by: garethgillman on Monday, November 14, 2016, 16:55:28
I've an Irish mate, who tells me the likes of Waterford play in front of 300 or so.  It's more likely Power is trying to be a poor man's Pozzo, and Waterford and other LoI players will come this way.

could be a couple of reasons why he got involved?

1) has a family connection to the area and saw they were struggling

2) thinks he can do an STFC and turn them around financially (won't take much investment either)

3) thinks they have a good talent base which he can use for STFC or just as him being the agent of the players

4) He thinks he has done what he can at STFC (hence getting Sherwood in) and wants something else to occupy himself

5) Has intentions of Man City, Pozzi's (Watford) and Duvual (Charlton) of running and owning multiple clubs


Title: Re: Lee Power siphoning off funds
Post by: Bob's Orange on Monday, November 14, 2016, 16:58:54
could be a couple of reasons why he got involved?

1) has a family connection to the area and saw they were struggling

2) thinks he can do an STFC and turn them around financially (won't take much investment either)

3) thinks they have a good talent base which he can use for STFC or just as him being the agent of the players

4) He thinks he has done what he can at STFC (hence getting Sherwood in) and wants something else to occupy himself

5) Has intentions of Man City, Pozzi's (Watford) and Duvual (Charlton) of running and owning multiple clubs

His grandparents are from Waterford so for sure its a factor.

Perhaps he has seen what Dundalk has achieved and figured that it wouldn't be beyond the realms of possibilty that Waterford could do something similar given a bit of backing.

I'm sure we'll also be seeing some Irish talent coming over in the foreseeable.


Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Monday, November 14, 2016, 17:03:33
This would be a good start

(http://i1372.photobucket.com/albums/ag351/rickrose1204/Mobile%20Uploads/ad8_zpsfx2i0a6j.jpg) (http://s1372.photobucket.com/user/rickrose1204/media/Mobile%20Uploads/ad8_zpsfx2i0a6j.jpg.html)


Title: Re: Lee Power siphoning off funds
Post by: garethgillman on Monday, November 14, 2016, 17:09:04
His grandparents are from Waterford so for sure its a factor.

Perhaps he has seen what Dundalk has achieved and figured that it wouldn't be beyond the realms of possibilty that Waterford could do something similar given a bit of backing.

I'm sure we'll also be seeing some Irish talent coming over in the foreseeable.

all are possible, just gotta wait and see what happens eh


Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Monday, November 14, 2016, 17:29:35
Couple of snippets of interest - they've fallen for Red Bull, too.

http://www.irishtimes.com/sport/soccer/national-league/swindon-town-chairman-completes-deal-to-take-over-at-waterford-united-1.2867673


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Monday, November 14, 2016, 19:40:03

5) Has intentions of Man City, Pozzi's (Watford) and Duvual (Charlton) of running and owning multiple clubs

Waterford is an anagram of er... Watford.


Title: Re: Lee Power siphoning off funds
Post by: Batch on Monday, November 14, 2016, 20:35:42
Quote from: Reg Smeeton
Quote
So is this where we will be shipping our unwanted players to in Jan?
I've an Irish mate, who tells me the likes of Waterford play in front of 300 or so.  It's more likely Power is trying to be a poor man's Pozzo, and Waterford and other LoI players will come this way.

bloody hell, he's gone full Jed


Title: Re:
Post by: Hoboken on Monday, November 14, 2016, 20:48:34
Slade has a pretty good record in our league though doesn't he? Certainty needs time to fine tune the team the way he wants it.

Sent from my MotoG3

He didn't get it.... Fired today...


Title: Re: Lee Power siphoning off funds
Post by: garethgillman on Monday, November 14, 2016, 20:48:43
radio interview on the takeover - http://www.wlrfm.com/shows/19-on-the-ball-saturday/4355-waterford-uniteds-new-owner-lee-power-speaks-directly-to-wlr-about-the-clubs-takeover.html


Title: Re: Lee Power siphoning off funds
Post by: suttonred on Monday, November 14, 2016, 22:20:12
Think this might be a nice tie up if it is that. We've got some good youngsters that would benefit both sides going over there to play regularly. Still get the feeling there is more to come on this though. Not a massive red bull network, maybe a rola cola type one though..


Title: Re: Lee Power siphoning off funds
Post by: suttonred on Monday, November 14, 2016, 23:01:25
Just looking at their fb and twitter, nice little ground. No bets for where our pre season tour will be. Think I may have to tie up a visit to the outlaws over there.


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Tuesday, November 15, 2016, 09:29:55
Just looking at their fb and twitter, nice little ground. No bets for where our pre season tour will be. Think I may have to tie up a visit to the outlaws over there.

I've cycled through Waterford on the way to Rosslare. Around the coast from Killarney - Kenmare - Bantry - Skibbereen - Cork - Youghal. Lovely place, look out for Reginald's Tower.


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Tuesday, November 15, 2016, 09:36:08
I've cycled through Waterford on the way to Rosslare. Around the coast from Killarney - Kenmare - Bantry - Skibbereen - Cork - Youghal. Lovely place, look out for Reginald's Tower.

I bet you say that to all the ladies.....


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Tuesday, November 15, 2016, 09:42:13
I bet you say that to all the ladies.....

 :)  my days of the caveman approach are sadly gone. Subtlety is called for now.


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Tuesday, November 15, 2016, 10:12:45
Its beautiful down in County Kerry though, have spent a fair bit of time near Killorglin as a mates parents owned a house right on the coast, some very good new years eves spent in the local bar!


Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Tuesday, November 15, 2016, 10:22:11
Still got my house in Kerry, not far from Tralee. Helluva hike to Waterford though.

It's great down by the harbour when all the tall ships are in. Hello sailor!


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Tuesday, November 15, 2016, 10:24:17
Still got my house in Kerry, not far from Tralee. Helluva hike to Waterford though.

It's great down by the harbour when all the tall ships are in. Hello sailor!

I'm sure I cycled it in a day.  Long time ago now mind, so memory could be playing tricks.


Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Tuesday, November 15, 2016, 10:26:41
It's about a 3 hour drive, Reg.  I used to race my dogs occasionally at Cork which was the best part of 2 hours from Tralee and Waterford is another hour from there. It's an hour closer from Killarney, mind.

Sure you were cycling?


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Tuesday, November 15, 2016, 10:34:47
It's about a 3 hour drive, Reg.  I used to race my dogs occasionally at Cork which was the best part of 2 hours from Tralee and Waterford is another hour from there. It's an hour closer from Killarney, mind.

Sure you were cycling?

Yep. The pain and associated  :pint: may have dulled my memory, so an doing it in 2 days rather than one is entirely possible.


Title: Re: Lee Power siphoning off funds
Post by: Bob's Orange on Tuesday, November 15, 2016, 11:34:52
It's about a 3 hour drive, Reg.  I used to race my dogs occasionally at Cork which was the best part of 2 hours from Tralee and Waterford is another hour from there. It's an hour closer from Killarney, mind.

Sure you were cycling?

That's probably because the roads are so bad in Ireland. If you are stuck behind a lorry/horsebox you are stuffed! There are only about 4 dual carriageways in the whole of the place!


Title: Re: Lee Power siphoning off funds
Post by: Bumpkin on Tuesday, November 15, 2016, 12:14:49
Owning Waterford United... could... could be financially more beneficial to Power than Swindon.

The fact that Dundalk, who 5 years ago, were very close to closing down, have earned 7 million (and counting) in Uefa prize money this season (currently second in their Europa League group) suggests this venture could provide a quicker return with a smaller investment.

Waterford's fan base has dwindled, but is is a big sporting area, dominated by GAA, their county hurling team is in the top four in the country.


Title: Re: Lee Power siphoning off funds
Post by: A Gent Orange on Tuesday, November 15, 2016, 13:32:59
radio interview on the takeover - http://www.wlrfm.com/shows/19-on-the-ball-saturday/4355-waterford-uniteds-new-owner-lee-power-speaks-directly-to-wlr-about-the-clubs-takeover.html
Thanks for that. Clearly thinks he can do something there although saying he'd been looking for a club in ireland for a while undermines the emotional side of the story a bit.


Title: Re: Lee Power siphoning off funds
Post by: horlock07 on Tuesday, November 15, 2016, 13:50:28
Thanks for that. Clearly thinks he can do something there although saying he'd been looking for a club in ireland for a while undermines the emotional side of the story a bit.

Once again it seems to be a club with few assets, explains why they can be picked up cheap but again lessons the opportunity for asset stripping? (apparently!)


Title: Re: Lee Power siphoning off funds
Post by: Costanza on Wednesday, November 16, 2016, 15:42:21
Power now linked to a club in Montenegro.

This'll be the shittest pre-season competition ever. 


Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Wednesday, November 16, 2016, 16:14:05
Wouldn't mind a few Balkan players here. Technically very skilful, with a nasty streak. We'll be like Watford soon - stuffed full of players from the other clubs in the portfolio.

Power definitely has a plan - it just depends if we will be the beneficiary or not.


Title: Re: Lee Power siphoning off funds
Post by: Reg Smeeton on Wednesday, November 16, 2016, 16:24:35
Wouldn't mind a few Balkan players here. Technically very skilful, with a nasty streak. We'll be like Watford soon - stuffed full of players from the other clubs in the portfolio.

Power definitely has a plan - it just depends if we will be the beneficiary or not.

We've never had any Balkan players, as far as I can remember but yes.  The women are tidy too, but like the footballers a bit crazy, as well as technically very good, with a nasty streak. Fit also.


Title: Re: Lee Power siphoning off funds
Post by: garethgillman on Wednesday, November 16, 2016, 16:53:25
I don't know what to make of him being interested in another club but the Pozzo family seem to do quite well running a couple of teams...... but it's all down to the management team who you have around you and it seems Waterford have the right team there (just no money) and we have a decent management team (Steve Anderson etc) so his input into the club will be minimal now Sherwood has taken over as director of football.

I can see the benefits of an owner having a few interests but only time will tell if any money spent on them clubs could have been better spent here, but from reports the 2 new clubs aren't going to be needing a lot of funds.

January will be the tell tale sign, will there be funds available for Sherwood to make some changes.


Title: Re: Lee Power siphoning off funds
Post by: pauld on Thursday, November 17, 2016, 08:41:23
I don't know what to make of him being interested in another club but the Pozzo family seem to do quite well running a couple of teams
Apart from the fraudulent financial documents bit ....


Title: Re: Lee Power siphoning off funds
Post by: Batch on Thursday, November 17, 2016, 08:46:03
Apart from the fraudulent financial documents bit ....

To be fair they did quite well out of that.


Title: Re: Lee Power siphoning off funds
Post by: Whits on Thursday, November 17, 2016, 08:55:16
Power now linked to a club in Montenegro.

This'll be the shittest pre-season competition ever.  
up there with the Ibiza cup, still glad we took that trophy!


Title: Re: Lee Power siphoning off funds
Post by: Christy on Thursday, November 17, 2016, 22:14:56

Waterford's fan base has dwindled, but is is a big sporting area, dominated by GAA, their county hurling team is in the top four in the country.

Interesting to hear in the various interviews of Waterford's excellent youth set up and potential...as it's not something I've previously noticed.  There's no shortage of Liverpool and Man United fans though, so you never know, football could rediscover some of its past popularity.

Meanwhile whilst the golf courses are fantastic, Gaelic football and rugby are the real poor relations - and certainly in comparison to the rich horses and dogs heritage.  As a matter of course, there aren't too many other places I've seen a statue of a greyhound. 

However, this is traditional and passionate hurling territory where the kids on the streets and the beaches most likely have hurleys and sliothars - and the county has had an agonising 50 year plus wait to win an All Ireland, with more hard luck stories than you could throw a stick at.

Reg would love it, especially leading the TEF massive from Reginalds Tower to the ground for pre-season friendly.


Title: Re: Lee Power siphoning off funds
Post by: Power to people on Wednesday, November 23, 2016, 12:48:48
May have been mentioned before but I cant be bothered to read back -

Interesting listening to Powers chat with their equivalent of Shaun H

Power talks about how he's been looking for a club in ireland for a while
praised the facilities at Waterford and mentioned how they was better than some championship clubs
believes there is huge potential for the club
Will be putting in investment as the coming season will be about getting promotion out of league 1
Looking to build up the academy over the next few years
talks about youth football
Looking to appoint DOF, Manager etc in next few weeks

It will be interesting to keep an eye on developments there, I know he has silent partners but where will all the money come from for the investment in them and the investment needed at stfc in January.....



Title: Re: Lee Power siphoning off funds
Post by: The Artist Formerly Known as Audrey on Wednesday, November 23, 2016, 16:59:35
A Waterford fan's take on things

'Haven’t figured out yet if Lee Power is incredibly stupid or incredibly smart.

Loads of potential for Waterford who should rightfully be a top tier club, with decent crowds (by LOI standards) and challenging for honours/ European football every now and then. However, even at that a LOI club is a money pit unless you strike gold like Dundalk – long shot.

I presume he sees synergies with the Swindon operation. Attract the best young talent from the region with the promise of loan move chances in League 1 (hopefully Championship from his point of view) if you produce in the LOI. If he uncovers a handful of players through that route he can sell them on for ~€1m rather than them leaving a LOI club for a fraction of that or for free. No doubt Waterford will also have an influx of loanees from Swindon’s youths/ reserves/ margins of first team squad/ returning injured players to bring them to a level where European football is a possibility also.'