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Swindon Town FC => The Boardroom => Topic started by: The Artist Formerly Known as Audrey on Thursday, July 18, 2019, 05:29:15



Title: Morfuni investing heavily in STFC
Post by: The Artist Formerly Known as Audrey on Thursday, July 18, 2019, 05:29:15
Power sharing?

https://www.swindonadvertiser.co.uk/sport/17778315.swindon-town-non-executive-vice-chairman-clem-morfuni-keen-seal-purchase-15-per-cent-stake-club/


Title: Re: Morfuni investing heavily in STFC
Post by: Bogus Dave on Thursday, July 18, 2019, 05:40:20
Thatís a good pun, that.

Positive news again, assuming no hiccups


Title: Re: Morfuni investing heavily in STFC
Post by: The Artist Formerly Known as Audrey on Thursday, July 18, 2019, 05:56:13
When I saw that pic, I thought it was Paolo.


Title: Re: Morfuni investing heavily in STFC
Post by: suttonred on Thursday, July 18, 2019, 06:15:14
Good news on the face of it. Certainly will have done his due diligence with being on the scene for a couple of years, so one would assume he wouldn't be interested if we looked like a dead duck.


Title: Re: Morfuni investing heavily in STFC
Post by: The Artist Formerly Known as Audrey on Thursday, July 18, 2019, 06:22:35
I suppose many fans will jump on the Ď£700,000 for playersí comment.

Anyway, any warm and fuzzy feeling will soon be tempered by Reg.


Title: Re: Morfuni investing heavily in STFC
Post by: Costanza on Thursday, July 18, 2019, 06:27:50
Anyway, any warm and fuzzy feeling will soon be tempered by Reg.

...and previous experiences!


Title: Re: Morfuni investing heavily in STFC
Post by: suttonred on Thursday, July 18, 2019, 06:28:20
I suppose many fans will jump on the Ď£700,000 for playersí comment.

Anyway, any warm and fuzzy feeling will soon be tempered by Reg.

2 and 2 together and all that. The funding is probably why RW is waiting on a couple of strikers and not jumping in.


Title: Re: Morfuni investing heavily in STFC
Post by: suttonred on Thursday, July 18, 2019, 06:29:31
...and previous experiences!

Yeah that was my first thought, but he hasn't just turned up in a rented merc with a mini fridge in the boot...


Title: Re: Morfuni investing heavily in STFC
Post by: The Artist Formerly Known as Audrey on Thursday, July 18, 2019, 06:32:30
Especially when you look at 2 of our near neighbours - Rovers and Piss Stains - owned by supposed rich men who either havenít actually got a pot to piss in or are tighter than a nunís chuff.


Title: Re: Morfuni investing heavily in STFC
Post by: Costanza on Thursday, July 18, 2019, 06:33:49
Yeah that was my first thought, but he hasn't just turned up in a rented merc with a mini fridge in the boot...

I agree. He's been on the scene for a while, he's put his company on the shirts and he's had some interaction with fans.

All the good signs.


Title: Morfuni investing heavily in STFC
Post by: Batch on Thursday, July 18, 2019, 06:35:17
I met him once, seemed a genuinly nice guy.

obviously you can't tell anything about anyone based on 30 minutes. Better than coming across as a twat though


Title: Re: Morfuni investing heavily in STFC
Post by: The Artist Formerly Known as Audrey on Thursday, July 18, 2019, 06:50:17
Wasnít one of his initial gambits about opening a pathway for young Aussie players to get into English football?


Title: Re: Morfuni investing heavily in STFC
Post by: Frigby Daser on Thursday, July 18, 2019, 06:56:57
Thereís some detail in there. 1. The club wonít comment - why not? It suggests Clem has spoken out of turn without their agreement. Why has he felt the need to talk about this before the club was prepared to if they are as joined up as he suggests? 2. He claims to have invested in return for a 15% share. He claims to have invested? Or claims to have agreed that the investment was in return for a share? Why isnít that certain? Heís either got a bought shares or he hasnít. Has Power not learned? Iíve got Jed-ja-vu. And why does he want a 15% share in a loss making business with no dividend? Protection of his investment so thereís a return in the event of a future sale? Who knows. Weíve seen this all before. I also thought it was Paolo at first glance making a return as youth team coach.


Title: Re: Morfuni investing heavily in STFC
Post by: Batch on Thursday, July 18, 2019, 07:05:42
I'd normally age with you and and extra cynicism!

in this case I'd say wait and see. let's hope this isn't a bill power type stitch up from Power II.


Title: Re: Morfuni investing heavily in STFC
Post by: Peter Venkman on Thursday, July 18, 2019, 07:22:30
Beginnings of Powers exit strategy.


Title: Re: Morfuni investing heavily in STFC
Post by: Legends-Lounge on Thursday, July 18, 2019, 07:34:35
Beginnings of Powers exit strategy.

My thoughts too. Iíd go further to suggest it will be in increments. Promoted to League 1 extra % promoted to championship extra % then a full buyout, just my musings. Then there is the trust element to factor in regarding their/our share of the stadium and subsequent development costs. Still all citing stuff and adds to the theatre of being a town fan.


Title: Re: Morfuni investing heavily in STFC
Post by: pauld on Thursday, July 18, 2019, 07:50:30
Thereís some detail in there. 1. The club wonít comment - why not? It suggests Clem has spoken out of turn without their agreement. Why has he felt the need to talk about this before the club was prepared to if they are as joined up as he suggests? 2. He claims to have invested in return for a 15% share. He claims to have invested? Or claims to have agreed that the investment was in return for a share? Why isnít that certain?
That worries me too, the whole piece reads like he's staking a claim in public to something that's under dispute. The digs at Power about fan engagement are odd as well, looks like he's pitching for backing from fans. I hope I'm wrong and it's just the article is pitched a bit oddly. Wouldn't be the first time from the Adver.


Title: Re: Morfuni investing heavily in STFC
Post by: Flashheart on Thursday, July 18, 2019, 07:55:55
It was mentioned about a week ago or so ago by one of the adver journos that they were sitting on something. My guess is that this is it.


Title: Re: Morfuni investing heavily in STFC
Post by: Nemo on Thursday, July 18, 2019, 08:02:18
Quote from: Clem Morfuni
ďThatís where I come in. Despite the distance, Iím always there to chat to supporters over the phone.

Paging Costanza


Title: Re: Morfuni investing heavily in STFC
Post by: Panda Paws on Thursday, July 18, 2019, 08:03:57
No coincidence his initial investment of £1.1m is exactly 50% of the purchase price of the CG...


Title: Re: Morfuni investing heavily in STFC
Post by: Reg Smeeton on Thursday, July 18, 2019, 08:13:31
I suppose many fans will jump on the Ď£700,000 for playersí comment.

Anyway, any warm and fuzzy feeling will soon be tempered by Reg.

We kind of knew most of this anyway, apart from the bit about making things more formal with a share certificate. 

Here as Frigby and PaulD have pointed out, we could be seeing a problem, with Power cutting up rough.

Hopefully not the case.

That the likes of Batch thinks that Clem seems a straight arrow, is reassuring.


Title: Re: Morfuni investing heavily in STFC
Post by: REDBUCK on Thursday, July 18, 2019, 08:30:18
Well I suppose there had to be something to upset the so far smooth pre season.


Title: Re: Morfuni investing heavily in STFC
Post by: The Artist Formerly Known as Audrey on Thursday, July 18, 2019, 08:41:23
Yeah. Nothing worse than someone investing in our club.


Title: Re: Morfuni investing heavily in STFC
Post by: Batch on Thursday, July 18, 2019, 08:43:34
That the likes of Batch thinks that Clem seems a straight arrow, is reassuring.

To be fair I only met him briefly once. He just made a good first impression, I'm told that impression was also made (over a longer period) to the fans group I was with (GW Reds).


Title: Re: Morfuni investing heavily in STFC
Post by: Flashheart on Thursday, July 18, 2019, 08:44:27
Yeah. Nothing worse than someone investing in our club.

Really thrown a spanner in the works.


Title: Re: Morfuni investing heavily in STFC
Post by: The Artist Formerly Known as Audrey on Thursday, July 18, 2019, 08:46:52
I bet the fucker is going to use some of that money in a decent striker, too.

How very dare he!


Title: Re: Morfuni investing heavily in STFC
Post by: Reg Smeeton on Thursday, July 18, 2019, 08:47:42
To be fair I only met him briefly once. He just made a good first impression, I'm told that impression was also made (over a longer period) to the fans group I was with (GW Reds).

Personally I've always gone on first impressions as being fairly reliable.... don't worry, if Morfuni turns into Diamond Mike II, I won't hold it against you.  :)


Title: Re: Morfuni investing heavily in STFC
Post by: Flashheart on Thursday, July 18, 2019, 08:47:51
Morfuni out.


Title: Re: Morfuni investing heavily in STFC
Post by: Batch on Thursday, July 18, 2019, 08:51:14
Personally I've always gone on first impressions as being fairly reliable.... don't worry, if Morfuni turns into Diamond Mike II, I won't hold it against you.  :)

Maybe he IS Diamond Mike. In a Paolo (sic) mask. And he would have got away with it too if it wasn't for us meddling (near) OAPs.


Title: Re: Morfuni investing heavily in STFC
Post by: Peter Venkman on Thursday, July 18, 2019, 09:03:30
Yeah. Nothing worse than someone investing in our club.
:D exactly, I wouldn't say this will disrupt anything, quite the opposite.


Title: Re: Morfuni investing heavily in STFC
Post by: Ardiles on Thursday, July 18, 2019, 09:13:07
We need something like this.  Off the pitch, things have been moribund for some time.  We need a shake up.  Let's roll the dice.

Worryingly, 'moribund' is almost an anagram of Morfuni - but I'll let that go.


Title: Re: Morfuni investing heavily in STFC
Post by: Reg Smeeton on Thursday, July 18, 2019, 09:18:09
We need something like this.  Off the pitch, things have been moribund for some time.  We need a shake up.  Let's roll the dice.

Worryingly, 'moribund' is almost an anagram of Morfuni - but I'll let that go.

It is however an anagram of uniform....


Title: Re: Morfuni investing heavily in STFC
Post by: Nemo on Thursday, July 18, 2019, 09:18:53
Clem Morfuni is an actual anagram of 'Confirm Mule' or 'Corn Life Mum', if you'd prefer?


Title: Re: Morfuni investing heavily in STFC
Post by: pauld on Thursday, July 18, 2019, 09:39:34
:D exactly, I wouldn't say this will disrupt anything, quite the opposite.
Of course the investment won't. But if this is the opening shots in another boardroom power struggle, that might not be quite such good news. I'm not suggesting that is the case, but the way the story is framed makes me uneasy. Hopefully, that's just PDSD (Post-Diamandis Stress Disorder)


Title: Re: Morfuni investing heavily in STFC
Post by: wheretherealredsare on Thursday, July 18, 2019, 09:42:58
Clem Morfuni is an actual anagram of 'Confirm Mule' or 'Corn Life Mum', if you'd prefer?

And not far from "more funding"


Title: Re: Morfuni investing heavily in STFC
Post by: Peter Venkman on Thursday, July 18, 2019, 09:53:22
Of course the investment won't. But if this is the opening shots in another boardroom power struggle, that might not be quite such good news. I'm not suggesting that is the case, but the way the story is framed makes me uneasy. Hopefully, that's just PDSD (Post-Diamandis Stress Disorder)
I understand that we don't know but just for once can we look at the positives?

Not aimed at you, but at this stage I am looking at any financial investment as being good for the team on the pitch, which is what matters most.

Another anagram which could be relevant is mm flouncier.

or nomm lucifer.



Title: Re: Morfuni investing heavily in STFC
Post by: pauld on Thursday, July 18, 2019, 09:58:03
I understand that we don't know but just for once can we look at the positives?
Yup! As PP says, not a coincidence that he has put in (or claims to have) £1.1m, the club's share of the ground purchase cost and is proposing to put in the same sum again. Hopefully this is a sign of things moving on the ground purchase


Title: Re: Morfuni investing heavily in STFC
Post by: horlock07 on Thursday, July 18, 2019, 10:05:36
I understand that we don't know but just for once can we look at the positives?

Not aimed at you, but at this stage I am looking at any financial investment as being good for the team on the pitch, which is what matters most.

Another anagram which could be relevant is mm flouncier.

or nomm lucifer.



I don't read too much into the fact that club are not commenting, they don't comment on anything most of the time (which everyone has moaned about for years) so its basically following form.

Watch things develop over the next few days I reckon.


Title: Re: Morfuni investing heavily in STFC
Post by: The Artist Formerly Known as Audrey on Thursday, July 18, 2019, 10:06:34
Are these sums mentioned in the article money he has already put in or money he will put in - especially the £700,000 for players and staff?

I canít imagine we have £700,000 sloshing around somewhere just waiting for the right player to pop up.


Title: Re: Morfuni investing heavily in STFC
Post by: horlock07 on Thursday, July 18, 2019, 10:14:40
Had a quick look on CH and nothing shows up, however this is really a wall of shame...

https://beta.companieshouse.gov.uk/company/00053100/officers

I didn't know that Sangita had gone?


Title: Re: Morfuni investing heavily in STFC
Post by: Peter Venkman on Thursday, July 18, 2019, 10:17:17
Had a quick look on CH and nothing shows up, however this is really a wall of shame...

https://beta.companieshouse.gov.uk/company/00053100/officers

I didn't know that Sangita had gone?
I am pretty sure it was announced quite a while back that she had left her post at the club, well over a year ago I think.

EDIT. here.

https://www.swindontownfc.co.uk/news/2017/july/sangita-shah-departs-town/


Title: Re: Morfuni investing heavily in STFC
Post by: pauld on Thursday, July 18, 2019, 10:36:57
Are these sums mentioned in the article money he has already put in or money he will put in - especially the £700,000 for players and staff?

I canít imagine we have £700,000 sloshing around somewhere just waiting for the right player to pop up.
So the article says he has put in £1.1m for a 15% stake in the club. Plus a further £500k "invested in sponsorship and financial support to address the clubís operating losses". That's what's gone in so far. Still to come is a further £1.1m to enable the CG purchase plus £700k for players. I worry that these are carrots being dangled with an implied threat of withdrawal if his 15% isn't confirmed.


Title: Re: Morfuni investing heavily in STFC
Post by: Samdy Gray on Thursday, July 18, 2019, 10:44:20
The question is, who's valuing the club at over £7 million?!


Title: Re: Morfuni investing heavily in STFC
Post by: pauld on Thursday, July 18, 2019, 10:50:07
The question is, who's valuing the club at over £7 million?!
Morfuni is, at least. Maybe that's why he's gone public with a "claim" to have taken a 15% stake, perhaps there is a dispute about the valuation. i.e. not so much as Bill Power-style dispute as to the nature of the investment (loan vs shareholding) as to how much that would buy him. If he values the club at £7m and Power sees it as £11m, then that would be 10% v 15%. Or maybe it's just Morfuni sharing the good news of further largesse to come


Title: Re: Morfuni investing heavily in STFC
Post by: Panda Paws on Thursday, July 18, 2019, 10:50:55
The question is, who's valuing the club at over £7 million?!

Morfuni and Power are - if he's paid what is reported and is getting what is reported.


Title: Re: Morfuni investing heavily in STFC
Post by: RobertT on Thursday, July 18, 2019, 12:08:17
The Training Ground had made a material impact on the Balance Sheet in the tiny accounts that are filed and the rights to buy the freehold to a site where the club owns the structures may well be enough of a carrot to get to a 7m valuation.


Title: Re: Morfuni investing heavily in STFC
Post by: horlock07 on Thursday, July 18, 2019, 12:18:05
Whats going on with the training ground etc.

I note that three applications went in back end of last year for 1) formalising the training facility, 2) an equestrian facility (I assume for Powers racing operation) and 3) 18 houses where the lodges previously had consent. Masterplan is here https://pa1.swindon.gov.uk/publicaccess/files/F45B5A0C0435380CD1BF749E07732866/pdf/S_18_1782-OVERALL_SITE_MASTER_PLAN-701792.pdf

A quick look online suggests that there is nothing on the file since about March?


Title: Re: Morfuni investing heavily in STFC
Post by: RobertT on Thursday, July 18, 2019, 12:26:28
Just read the article and I have to say I take the positives from it.  The fact he mentioned going through the EFL's pointless test would suggest it is pretty formal and not just him trying to pressure Power over some bad deal.  That infers Power is OK as it has had to go through the formal channels before approval.  Seems likely we are a staging post for his company, which seems fine to me if we get the benefits from that deal of a redeveloped stadium to use in marketing slicks.


Title: Re: Morfuni investing heavily in STFC
Post by: pauld on Thursday, July 18, 2019, 12:34:25
Just read the article and I have to say I take the positives from it.  The fact he mentioned going through the EFL's pointless test would suggest it is pretty formal and not just him trying to pressure Power over some bad deal.  That infers Power is OK as it has had to go through the formal channels before approval.
That's a really good shout, hadn't thought of that! That's quite cheered me up!


Title: Re: Morfuni investing heavily in STFC
Post by: Flashheart on Thursday, July 18, 2019, 12:36:15
Whats going on with the training ground etc.

I note that three applications went in back end of last year for 1) formalising the training facility, 2) an equestrian facility (I assume for Powers racing operation) and 3) 18 houses where the lodges previously had consent. Masterplan is here https://pa1.swindon.gov.uk/publicaccess/files/F45B5A0C0435380CD1BF749E07732866/pdf/S_18_1782-OVERALL_SITE_MASTER_PLAN-701792.pdf

A quick look online suggests that there is nothing on the file since about March?

The last thing I remember was that they have some thingamydoo presenting the plans to the local community.


Title: Re: Morfuni investing heavily in STFC
Post by: horlock07 on Thursday, July 18, 2019, 13:22:38
The last thing I remember was that they have some thingamydoo presenting the plans to the local community.

Not that successfully as Highworth TC have objected to all three applications.


Title: Re: Morfuni investing heavily in STFC
Post by: Flashheart on Thursday, July 18, 2019, 13:55:16
Oh dear


Title: Re: Morfuni investing heavily in STFC
Post by: theakston2k on Thursday, July 18, 2019, 13:59:38
Not that successfully as Highworth TC have objected to all three applications.
They are probably just trying to get the club to throw in more community facilities to appease their objections.


Title: Re: Morfuni investing heavily in STFC
Post by: horlock07 on Thursday, July 18, 2019, 14:26:14
           
They are probably just trying to get the club to throw in more community facilities to appease their objections.

They ain't happy, text lifted from letter below as I cannot link to it on the web (the poor formatting is not mine)...

'S/18/1783/SASM Ė Erection of 18no.dwellings with associated access, parking, garaging, open
 space, landscaping and pumping station.  Twelve Oaks Golf Club, Lechlade Road, Highworth.
Councillors recommended refusal:

This application site is located outside the rural settlement boundary of the town and contravenes both the Swindon Local Plan and the Highworth Neighbourhood Plan (HNP). The HNP was written and adopted specifically to protect Highworthís integrity as a Hilltop Settlement.

Neither the Swindon Local Plan, not the HNP, supports new build open market housing in the countryside.
From the drawings and plans supporting the application it is obvious that the development would be highly visible from the road giving the impression of an extension of the town and supplanting its boundary further in the direction of Lechlade, in contravention of the communityís aspiration to preserve Highworth as a hilltop town.

The non-provision of affordable housing on this site goes against NPPF paragraph 64 which states that applications should include provision of at least 10% of homes to be affordable home ownership dwellings.

This site is well outside the Highworth settlement boundary, being situated in an isolated part of the countryside on the extremely busy A361 route from Highworth through to Lechlade, a notoriously busy and dangerous road. The site does not benefit from access on foot except from an unmade and unlit public footpath through to the Blackworth Industrial Estate. The closest accessible bus stops are on Roundhills Mead which by the applicantís estimate is over one half mile away from the siteís entry onto the A361. Even should a proposed new footway/cycleway be provided within the application, as recommended by the transport assessment be an improvement, distances to the bus stop are beyond those that would encourage bus use.
Similarly, the walking distance to the nearest primary school of 1800 metres and shop, now closed, are beyond the recommended distances. This is in conflict with the Local Plan Policy DE1ís principles of accessibility and connectivity, which are also amplified in the Swindon Residential Design Guide.

This application is linked to two other applications, and is, in fact, an enabling application to help financially support application S/18/1781. Taking these applications together, and the three together as one site, there
is potentially a huge increase in the volume of vehicular traffic leaving and entering the site from one entrance. This particular application with 18 executive style houses will have, at least, 2 cars per household. The Equestrian Training Facility will generate an increase in lorry and car traffic, whilst the Football Training Centre, Headquarters and Academy has built into it parking for 96 cars and the inevitable daily traffic of support vehicles. This will put enormous pressure onto what is an already busy and dangerous route, especially from the one entrance and egress point.

In terms of benefit to the Highworth community, this application brings little, or no benefit, which would justify the breaching of the Swindon Local Plan, nor the HNP.         
 
If the planning officer is minded to pass this application, Councillors would insist that it is called in to the        Planning Committee and Highworth Town Councillors will attend.

             
S/18/1782/SASM Ė Erection of Equestrian Training Facility comprising a courtyard barn accommodating 20 no. stables and ancillary rooms, including stable hand accommodation, an American barn comprising 50no.loose horse boxes and a hay store, all weather gallop, horse walker, lunge pit and paddocks, vehicular parking, waste storage, landscaping and drainage. Twelve Oaks Golf Club, Lechlade Road, Highworth. Councillors recommend refusal:

             There are concerns that this application will have a huge impact on the landscape in this area. The
             provision of accommodation within the application is of concern, as is the size and ambition of the whole
             concept. The impact of all these buildings, both in size and in height, will alter the landscape
             disproportionally. It is surprising that there does not appear to be an impact assessment by the Landscape
             Officers regarding this application.

There are concerns about the ecological impact that this application will have on the area. Other applications in this part of the town, particularly in relation to its countryside location, have demanded ecological assessments and stipulated conditions with regard to the displacement and loss of habitat with regard to local wildlife.

                There are strong concerns regarding lorry and car traffic that this application will generate. This application
             is linked to two other applications. Taking these applications together, and the three together as one site,
             there is potentially a huge increase in the volume of vehicular traffic leaving and entering the site from one   
             entrance. This particular application, an Equestrian Training Facility, will generate an increase in lorry and
             car traffic, whilst the Football Training Centre, Headquarters and Academy has built into it parking for 96 
             cars and the inevitable daily traffic of support vehicles. The application for 18 executive style houses will
             generate, at least 2 vehicles per household. This will put enormous pressure onto what is an already busy             
             and dangerous route, especially from the one entrance and egress point.

         3.            
In terms of benefit to the Highworth community, this application brings little, or no benefit, which would justify the breaching of the Swindon Local Plan, nor the HNP.         

   Councillors believe there are archaeological remains going back to the stone age that require consideration.

   If the planning officer is minded to pass this application, Councillors would insist that it is called in to the              Planning Committee and Highworth Town Councillors will attend.

            d. S/18/1781/SASM Ė Erection of Football Training Centre and Headquarters building including changing       
            rooms, treatment rooms, gymnasium, conference rooms, study rooms, kitchen, toilet facilities and office               
            accommodation; re-grading of ground levels and laying out of grass football pitches, installation of drainage,
            construction of all-weather pitch facility with floodlighting, ancillary car parking areas, associated highways,
            drainage (including pumping station) and landscaping and construction of single storey groundsmanís 
            equipment store building.  Twelve Oaks, Lechlade Road, Highworth. Councillors recommend refusal:

Councillors considered this with regard to its benefit or deficit to the community.  Football is a big part of Highworth with two successful junior and senior clubs who are currently, together with Swindon Borough Council and the Wiltshire football association, as part of the Playing Pitch Strategy, are trying to gain funding to build an artificial pitch within Highworth that would be solely for use by the community, clubs and schools.  If this application is granted the Wiltshire football association has stated it would not fund a second pitch within the town.  Attempts have been made by both Highworth Town Council and the football clubs to to get a commitment from the developer to allow Highworth grass roots football access to the facilities contained in the application. However, all attempts at communication have been unsuccessful and there is a strong belief that easily affordable access will not be available once the facility has been built.  The facility will be privately owned and therefore the community use would not be a priority.

   The previous owner altered the landscape by using commercial waste. The applicants have not demonstrated  that adequate research and testing has been carried out and sufficient studies have taken place. Councillors believe that proper research and testing require to be carried out with regards to this application and are not convinced that the ground is suitable for the activities proposed.

Although part of the buildings suggested incorporates the original house on the property, the extension to the existing building and other proposed building, together with the indicated large fencing are not in keeping with the landscape both in height and size, if this application is agreed it will significantly alter the landscape in this area.

In terms of benefit to the Highworth community, this application brings little, or no benefit, which would justify  the breaching of the Swindon Local Plan, nor the HNP.         

If the planning officer is minded to pass this application, Councillors would insist that it is called in to the     Planning Committee and Highworth Town Councillors will attend.'



Title: Re: Morfuni investing heavily in STFC
Post by: The Artist Formerly Known as Audrey on Thursday, July 18, 2019, 14:31:58
I can sort of understand the worry about increased traffic but, surely, there must have been a steady stream when it was a golf course.

I reckon the main obstacle is the housing and associated families/children. Maybe retirement homes would be better.


Title: Re: Morfuni investing heavily in STFC
Post by: horlock07 on Thursday, July 18, 2019, 14:52:24
I can sort of understand the worry about increased traffic but, surely, there must have been a steady stream when it was a golf course.

I reckon the main obstacle is the housing and associated families/children. Maybe retirement homes would be better.

I really cannot comment in detail as I haven't set foot in Highworth for probably 35 years and even when I did as a kid it was only to stop at the chippy on the way home from the Dentist and Railway Museum in Swindon.

However in Highways terms the applicant will no doubt have submitted a highways report that suggests that the effect will be within capacity and safe (I cannot be bothered to look).


Title: Re: Morfuni investing heavily in STFC
Post by: horlock07 on Friday, July 19, 2019, 10:29:52
Perhaps we can build a creche?

https://www.bbc.co.uk/sport/football/49003836


Title: Re: Morfuni investing heavily in STFC
Post by: Power to people on Wednesday, July 24, 2019, 12:21:13
I like his last comment in the article:

hatís where I come in. Despite the distance, Iím always there to chat to supporters over the phone.

ďYou can ask me anything and Iíll do my best to help, I want the feedback, I want to know what people think.Ē

So I propose Paul D to have a conversation to allay our fears


Title: Re: Morfuni investing heavily in STFC
Post by: DV Canio on Wednesday, July 24, 2019, 12:23:49
I like his last comment in the article:

hatís where I come in. Despite the distance, Iím always there to chat to supporters over the phone.

ďYou can ask me anything and Iíll do my best to help, I want the feedback, I want to know what people think.Ē

So I propose Paul D to have a conversation to allay our fears

Good shout.

As long as Mr. D asks about Philcam


Title: Re: Morfuni investing heavily in STFC
Post by: horlock07 on Wednesday, July 24, 2019, 12:59:36
Good shout.

As long as Mr. D asks about Philcam

And cheese.

Interested to know how supporters are supposed to get the guys number to give him a call, can you just call the main switchboard and ask to be put through.

Davis, get on it!


Title: Re: Morfuni investing heavily in STFC
Post by: pauld on Wednesday, July 24, 2019, 13:02:45
Good shout.

As long as Mr. D asks about Philcam
:D Batch is our designated Morfuni liaison, they're bessies


Title: Re: Morfuni investing heavily in STFC
Post by: tans on Wednesday, August 14, 2019, 15:49:33
On another note Stephen crouch resigned as a director of Swinton Reds today. Not sure what that means, if anything


Title: Re: Morfuni investing heavily in STFC
Post by: Nomoreheroes on Wednesday, August 14, 2019, 16:00:45
On another note Stephen crouch resigned as a director of Swinton Reds today. Not sure what that means, if anything
Get the Adver to find out.


Title: Re: Morfuni investing heavily in STFC
Post by: phelpsieboy on Wednesday, August 14, 2019, 16:18:01
Get the Adver to find out.
Shaun Reynolds did say the other day that Clem is currently back in the country.


Title: Re: Morfuni investing heavily in STFC
Post by: Costanza on Wednesday, August 14, 2019, 16:31:03
Clem was in SN1 on Saturday.


Title: Re: Morfuni investing heavily in STFC
Post by: pauld on Wednesday, August 14, 2019, 17:04:22
Get the Adver to find out.
Get Batch to find out!


Title: Re: Morfuni investing heavily in STFC
Post by: Flashheart on Wednesday, August 14, 2019, 17:06:22
Get on it Batch, you are bessies after all.


Title: Re: Morfuni investing heavily in STFC
Post by: Batch on Wednesday, August 14, 2019, 17:38:59
I met him once for 30 minutes.

naturally he's on speed dial :)

(I'll post if I hear, but if imagine there's several on here with better HP than me)


Title: Re: Morfuni investing heavily in STFC
Post by: Reg Smeeton on Wednesday, August 14, 2019, 17:46:28
On another note Stephen crouch resigned as a director of Swinton Reds today. Not sure what that means, if anything

Now there's a name.... he was mentioned yonks ago, as a fella who had some serious wonga, but then it went quiet.  Out of Brighton had co founded an accountancy firm, which had done well.

Did he ever get involved  :hmmm:


Title: Re: Morfuni investing heavily in STFC
Post by: horlock07 on Thursday, August 15, 2019, 08:46:17
Now there's a name.... he was mentioned yonks ago, as a fella who had some serious wonga, but then it went quiet.  Out of Brighton had co founded an accountancy firm, which had done well.

Did he ever get involved  :hmmm:

With hindsight I suspect he mainly just provided the accountancy services to set up and manage the company, which since incorporation seems to be a dormant company acting as Agent for Power with only Power holding shares in it, I note that earlier this year 99 additional shares were created taking Powers holding as sole shareholder from 1 to 100 shares, no idea why that was done but I am not an accountant. 


Title: Re: Morfuni investing heavily in STFC
Post by: Flashheart on Thursday, August 15, 2019, 08:55:36
I note that earlier this year 99 additional shares were created taking Powers holding as sole shareholder from 1 to 100 shares, no idea why that was done but I am not an accountant. 

To sell some, perhaps?


Title: Re: Morfuni investing heavily in STFC
Post by: horlock07 on Thursday, August 15, 2019, 08:59:55
To sell some, perhaps?

Would be a possibility I s'pose, and possibly then reneging would be the spur for the Crouch departure (complete conjecture on my part!)

What is the ultimate hierarchy of ownership, is it

Swinton Reds own Seebeck 87 who own STFC Ltd?


Title: Re: Morfuni investing heavily in STFC
Post by: Red Frog on Thursday, August 15, 2019, 10:00:33
Would be a possibility I s'pose, and possibly then reneging would be the spur for the Crouch departure (complete conjecture on my part!)

What is the ultimate hierarchy of ownership, is it

Swinton Reds own Seebeck 87 who own STFC Ltd?

When I was in town at the weekend, I was told that Morfuni had started investing on the understanding that he would take a shareholding, but that Power wasn't prepared to relinquish any shares and that both Morfuni's further investment, and plans for the joint ground purchase with the Trust, were currently in abeyance. Power apparently doesn't want other shareholders, only a full sale at, one assumes, a profit, which will be hard to achieve unless and until we move up at least one division.

So, possibly deadlock on all fronts for the time being.


Title: Re: Morfuni investing heavily in STFC
Post by: stfcjack on Thursday, August 15, 2019, 10:11:53
When I was in town at the weekend, I was told that Morfuni had started investing on the understanding that he would take a shareholding, but that Power wasn't prepared to relinquish any shares and that both Morfuni's further investment, and plans for the joint ground purchase with the Trust, were currently in abeyance. Power apparently doesn't want other shareholders, only a full sale at, one assumes, a profit, which will be hard to achieve unless and until we move up at least one division.

So, possibly deadlock on all fronts for the time being.

That worries me slightly


Title: Re: Morfuni investing heavily in STFC
Post by: horlock07 on Thursday, August 15, 2019, 10:44:07
When I was in town at the weekend, I was told that Morfuni had started investing on the understanding that he would take a shareholding, but that Power wasn't prepared to relinquish any shares and that both Morfuni's further investment, and plans for the joint ground purchase with the Trust, were currently in abeyance. Power apparently doesn't want other shareholders, only a full sale at, one assumes, a profit, which will be hard to achieve unless and until we move up at least one division.

So, possibly deadlock on all fronts for the time being.

It sounds plausible, what never ceases to amaze me (And it seems to happen at clubs all over the country) is people prepared to invest cash without getting any form of written assurance for their investment, all sounding rather like what happened when Power invested worryingly.


Title: Re: Morfuni investing heavily in STFC
Post by: Batch on Thursday, August 15, 2019, 11:12:33
There we go then.

Swindon Reds (holding co):
85 shares L Power
15 shares Axis Football Investments Ltd


Title: Re: Morfuni investing heavily in STFC
Post by: suttonred on Thursday, August 15, 2019, 11:14:39
Dont know much about finance stuff, but does that mean 100k per share?


Title: Re: Morfuni investing heavily in STFC
Post by: horlock07 on Thursday, August 15, 2019, 11:17:54
Dont know much about finance stuff, but does that mean 100k per share?

Theoretically its 15 £1 shares for the purpsoes of the company?

THis might or might not work

https://s3.eu-west-2.amazonaws.com/document-api-images-live.ch.gov.uk/docs/YaYvi3dnBnDxqMohVOV2fI-_3iEi8dYNCdDbXCCshp0/application-pdf?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Content-Sha256=UNSIGNED-PAYLOAD&X-Amz-Credential=ASIAWRGBDBV3IA3OOJOK%2F20190815%2Feu-west-2%2Fs3%2Faws4_request&X-Amz-Date=20190815T111337Z&X-Amz-Expires=60&X-Amz-Security-Token=AgoJb3JpZ2luX2VjEI7%2F%2F%2F%2F%2F%2F%2F%2F%2F%2FwEaCWV1LXdlc3QtMiJHMEUCIQDOdO93ZUCkLg7au%2F%2FS7zDI%2Fpmo%2BlJMpbvdJcEyKRANdQIgJPBx04Ze%2FRniU0FZEDKchwrfH8JnBqd0ABiaez8Cd8Yq2gMIJxACGgw0NDkyMjkwMzI4MjIiDOd9GShFMZvzGRUbwSq3A5OIE%2FN3fzCL4BXmBOct3z4P3mO8mnEbvppg%2FisQAMDpZfU54MoVTWgDuqknj3fVfz4fEPJrMR56fnx7%2BbKQk8elQr%2FVQArcCefDZuenJwU6hMrHl%2B7Hydr3EKfII0o7khljRD3EB1Nqwi58KGLT%2F2BCVBsdszNx6Tcn4buE6LR2jLrOzgKqna6T4WhKAtbRjXtbedayQKN%2BqyArcbmst%2BPXfE%2FyI0FORc6ZxchF%2FTBV3Lg%2F%2FyyFGmclKOB775CMmnx7HUNu4f8DaUg1kEHM4Y2qMsobsdzku8cPd5JEnmchQRimreAJfWaoCwirNJN1fLnPEGeqg5eFqhQQaCymuhct3cfwJ4NDw1a4vuw%2FSAtL%2BpRKudKCK%2FWhXUrpTeCE3op6Z14JH%2FsQPTjRE%2BX0v3VK6gAvfq5YvOyqEkEb6E3kc0HzX%2BX%2FE12D2e2UlTG6fsEtXT01QVKD71fZuD%2Bp3mu19b3f%2F71dd3z1FTpCSfcoaELuBmvsNizhADEhYPMijQpU%2FJhcCyNs9YUNA2t9XcoQTfx9%2FpQEEkx6frRwRGtgzSj3%2BW04gzQ66vtGJqQXiItIw7%2BSxPkwlefT6gU6tAG7YkzS9noki1%2Fs%2BaRu77puPhshOC5s4FYrZUsdkcikiWgG8EF%2FmSm8nOPe02QlMMW%2FR2ubt27eOtjRPvObUxCcprwxhL6uZgLUyhqqizpvxs0P70nfebClLbySedEC9jF94OTQ%2Fn2auW1GrQ870KKfd21q3G9gDO0luuPBx7wJlh1hVSiwUXQ8rVb3zx%2BisInn5tp4BFFfnXCcwnUc509D8vzEjEXURqjEcbq3wNS8b2v3TeQ%3D&X-Amz-SignedHeaders=host&X-Amz-Signature=fe6bc173a03a1e93861009cd071b36614ec62243c7ed0550777167b583cb09a8


Title: Re: Morfuni investing heavily in STFC
Post by: The Artist Formerly Known as Audrey on Thursday, August 15, 2019, 11:19:22
I know nothing about such things but I lifted this from OTIB in reference to BRovers trying to plan for a new stadium. If it is, indeed, bollocks, I apologise.

Bristol Rovers 1883 - Holding Co

Memeorial Stdium Company - Ground owner

Bristol Rovers FC - Football club

 

Which is the same structure that we have; all shares are owned in the holding co which in turn owns the club and ground separately.

 

This could be interpreted as tidying the group structure with the total assets of all three dormant companies being just £200; though there are far better ways to go about it than failing to file accounts and being struck off.

 

However...

These companies are just what you set up when you are undertaking a major develpment project, I guess they were in place for the UWE, so that it is in a separate company so that if everything goes wrong then only that company goes and not the group (assuming no parent company guarantees).  There is nothing shady in this; it's standard practice for development projects.


Title: Re: Morfuni investing heavily in STFC
Post by: horlock07 on Thursday, August 15, 2019, 11:21:00
Just for completeness Axis Football Investments Ltd has 1 shareholder and 1 director, both being Clemente Giovanni Bruno, Morfuni


Title: Re: Morfuni investing heavily in STFC
Post by: JanAirplaneMan on Thursday, August 15, 2019, 11:47:26
Clem now owns 15% good news


Title: Re: Morfuni investing heavily in STFC
Post by: theakston2k on Thursday, August 15, 2019, 11:58:29
That worries me slightly
You didn't need to worry for long, clearly another rumour made up about Power. Good news.


Title: Re: Morfuni investing heavily in STFC
Post by: Red Frog on Thursday, August 15, 2019, 12:01:44
Clem now owns 15% good news

Interesting. Let's see what happens next.


Title: Re: Morfuni investing heavily in STFC
Post by: Flashheart on Thursday, August 15, 2019, 12:04:17
I can't imagine there's that much of a Power struggle if he's got the shares?


Title: Re: Morfuni investing heavily in STFC
Post by: stfcjack on Thursday, August 15, 2019, 12:21:49
You didn't need to worry for long, clearly another rumour made up about Power. Good news.

Exactly, good news on the face of it! Onwards and upwards.


Title: Re: Morfuni investing heavily in STFC
Post by: derbystfc on Thursday, August 15, 2019, 12:31:32
Has it actually been confirmed? via director holdings etc?? Sorry If I have missed that bit


Title: Re: Morfuni investing heavily in STFC
Post by: horlock07 on Thursday, August 15, 2019, 13:12:00
Has it actually been confirmed? via director holdings etc?? Sorry If I have missed that bit

Comapnies House now shows Clem (or a company of his more accurately) owning 15% of the shares In Swinton Reds, the overall holding company (I think!)


Title: Re: Morfuni investing heavily in STFC
Post by: theakston2k on Thursday, August 15, 2019, 13:14:06
This has really got the Facebook group going, worst than Area 51 conspiracy stories today.


Title: Re: Morfuni investing heavily in STFC
Post by: derbystfc on Thursday, August 15, 2019, 13:27:14
Comapnies House now shows Clem (or a company of his more accurately) owning 15% of the shares In Swinton Reds, the overall holding company (I think!)

Nice one, thanks


Title: Re: Morfuni investing heavily in STFC
Post by: horlock07 on Thursday, August 15, 2019, 13:33:01
One thing, just happening to have a look at the who's who on the website https://www.swindontownfc.co.uk/club/whos-who/ ;

Honorary President: Mike Spearman

Chairman: Lee Power

Directors: Lee Power

Non-Executive Vice Chairman: Clem Morfuni 

Non-Executive Directors: Veljko Jovanovic, Roger Terrell, Zavier Austin, Ben Gristwood.

Does anyone have any idea who the non-exec Directors actually are or their involvement?


Title: Re: Morfuni investing heavily in STFC
Post by: Nemo on Thursday, August 15, 2019, 13:38:25
https://www.swindonadvertiser.co.uk/sport/13585526.town-appoint-three-new-non-executive-directors/

Article from back when three of them were appointed, Power's men. Ben Gristwood, not sure.


Title: Re: Morfuni investing heavily in STFC
Post by: Trashbat? on Thursday, August 15, 2019, 13:39:15
This has really got the Facebook group going, worst than Area 51 conspiracy stories today.

Oh god, what is there problem with it?

Let me guess...Clem is a reptile who feeds on the souls of football fans?!


Title: Re: Morfuni investing heavily in STFC
Post by: theakston2k on Thursday, August 15, 2019, 13:42:43
Oh god, what is there problem with it?

Let me guess...Clem is a reptile who feeds on the souls of football fans?!
Apparently it was a loan that Power couldn't pay back and they fell out blah blah blah.


Title: Re: Morfuni investing heavily in STFC
Post by: Batch on Thursday, August 15, 2019, 13:43:42
I've not heard that other than on the FB site


Title: Re: Morfuni investing heavily in STFC
Post by: theakston2k on Thursday, August 15, 2019, 13:47:40
I've not heard that other than on the FB site
Letís be honest thatís because itís a made up attention seeking story. Same guy claimed we deliberately lost the play-off final FFS.


Title: Re: Morfuni investing heavily in STFC
Post by: Flashheart on Thursday, August 15, 2019, 13:50:38
Letís be honest thatís because itís a made up attention seeking story. Same guy claimed we deliberately lost the play-off final FFS.

And quite a few believed him.


Title: Re: Morfuni investing heavily in STFC
Post by: Quagmire on Thursday, August 15, 2019, 13:55:04
Itís like the interview Clem done the other week never happened.


Title: Re: Morfuni investing heavily in STFC
Post by: horlock07 on Thursday, August 15, 2019, 14:00:28
https://www.swindonadvertiser.co.uk/sport/13585526.town-appoint-three-new-non-executive-directors/

Article from back when three of them were appointed, Power's men. Ben Gristwood, not sure.

Ta.

A quick look at companies house suggests that the other guy has the same correspondence address as Power so again I assume a friend.


Title: Re: Morfuni investing heavily in STFC
Post by: Flashheart on Thursday, August 15, 2019, 18:04:35
Quote
Morfuni also claims to be prepared to invest an additional £1.1m to help fund the purchase of the freehold to the County Ground from Swindon Borough Council, alongside a further £700,000 share investment to help purchase new players and grow the clubís background team.

Does that mean that he will be buying more shares on top of the 15%


Title: Re: Morfuni investing heavily in STFC
Post by: JanAirplaneMan on Thursday, August 15, 2019, 18:23:23
Clem needs to be a shareholder in order to be deemed serious about the CG regeneration so needs to actually be a director and own shares. Simple as that.


Title: Re: Morfuni investing heavily in STFC
Post by: Legends-Lounge on Thursday, August 15, 2019, 18:29:12
Does that mean that he will be buying more shares on top of the 15%

None of us know how much Wonga Power or Morph have. That said my few shillings are on Powers pot not being big enough to hols as much piss in as Morphs. Hence why Morph is prepared allegedly to Ďinvestí £1.1m and another £750k. It is not coincidental that the £1.1m is exactly half the stadium cost with the trust fronting the rest. I feel Powers pot is full with the training ground development, thatís where his money is going to be made plus anything from the sales of the club because the ground is obviously separate. Morphs real interest is the ground which is also coincidently his business expertise. Of course I could be wwwaaaaayyyyyy out but hey itís a talking point.


Title: Re: Morfuni investing heavily in STFC
Post by: suttonred on Thursday, August 15, 2019, 18:31:40
That would make a lot of sense from what little we know. Whatever's happening my topknot isnt tingling like a few previous boardroom shifts we've experienced.


Title: Re: Morfuni investing heavily in STFC
Post by: Flashheart on Thursday, August 15, 2019, 18:55:42
I reckon that Power is trying to hold on for a share of a larger profit when selling after promotion (if it happens), but Morfuni will gradually chip away at his shareholding as Power needs funds.


Title: Re: Morfuni investing heavily in STFC
Post by: bamboonoshop on Thursday, August 15, 2019, 19:05:28
I'm from Uncle.

Anagram of Clem Morfuni. Question is will Power be prepared to 'say Uncle' when he wants some more cash flow?

I also bizarrely have visions of Clem on wrecking ball, taking the first swing into the County Ground, ala Jim'll Paint It style.

No I haven't had my pills yet!


Title: Re: Morfuni investing heavily in STFC
Post by: Batch on Thursday, August 15, 2019, 19:25:45
Quote from: Flashheart
I reckon that Power is trying to hold on for a share of a larger profit when selling after promotion (if it happens), but Morfuni will gradually chip away at his shareholding as Power needs funds.

me too


Title: Re: Morfuni investing heavily in STFC
Post by: bamboonoshop on Thursday, August 15, 2019, 19:28:23
me too

#MeToo  :soapy tit wank:


Title: Re: Morfuni investing heavily in STFC
Post by: ronnie21 on Thursday, August 15, 2019, 19:32:30
https://www.swindonadvertiser.co.uk/sport/13585526.town-appoint-three-new-non-executive-directors/

Article from back when three of them were appointed, Power's men. Ben Gristwood, not sure.
This was printed in the programme for last Saturday


Title: Re: Morfuni investing heavily in STFC
Post by: Simon Pieman on Thursday, August 15, 2019, 23:18:03
This was printed in the programme for last Saturday

The Axis Powers


Title: Re: Morfuni investing heavily in STFC
Post by: bamboonoshop on Friday, August 16, 2019, 02:12:30
The Axis Powers

The Axis Power County Ground....doesn't sound too bad?  :hmmm:


Title: Re: Morfuni investing heavily in STFC
Post by: Legends-Lounge on Friday, August 16, 2019, 05:30:58
The Axis Power County Ground....doesn't sound too bad?  :hmmm:

Not sure the Adolf Hitler Stand, Benito Mussolini Stand and the Michinomiya Hirohito Stand would go down to well to be honest.


Title: Re: Morfuni investing heavily in STFC
Post by: bathford on Friday, August 16, 2019, 16:29:56
Not sure the Adolf Hitler Stand, Benito Mussolini Stand and the Michinomiya Hirohito Stand would go down to well to be honest.

Oh I don't know.. Some of our supporters (FB mainly) are so thick, they wouldn't have a clue who any of them were! In fact, they'd probably tell you that as he have the DR Stand, when did the others play for us!


Title: Re: Morfuni investing heavily in STFC
Post by: Legends-Lounge on Friday, August 16, 2019, 17:54:51
Oh I don't know.. Some of our supporters (FB mainly) are so thick, they wouldn't have a clue who any of them were! In fact, they'd probably tell you that as he have the DR Stand, when did the others play for us!

Could balance that with the Allies Stratton Bank I suppose?


Title: Re: Morfuni investing heavily in STFC
Post by: hobodan on Tuesday, August 20, 2019, 21:35:45
Not sure the Adolf Hitler Stand, Benito Mussolini Stand and the Michinomiya Hirohito Stand would go down to well to be honest.

I donít know, itís not the worst suggestion.