New Board Revealed

[wheretherealredsare]

What does Dionisio do on Mondays to Saturdays then ...

"... the envolvement of this company of Portuguese agents Dionísio and Sundays I castrate."

 :shock:

[ghanimah]

Re: Talk Talk

The more I read about the new takeover then the more it rings enough bells to make a campanologist orgasmic.

It’s not good news that the owners are deciding to remain anonymous (makes me think they are registered offshore somewhere like the Cayman islands, where directors are not legally required to declare their identity) and from the Trust’s meeting with Jim Little et al I can’t see how the proposed business plan (without ground redevelopment) is going to make back the significant sums that have to be ‘invested’ to clear our debts.

This is the kind of situation that UEFA are concerned about, where significant sums by undisclosed sources are being invested in football clubs, and whilst I’m not suggesting the prospect of money laundering, the situation regarding the new investment, as I currently understand it, appears to make us very vulnerable indeed.

[Dazzza]

What does Dionisio do on Mondays to Saturdays then ...

"... the envolvement of this company of Portuguese agents Dionísio and Sundays I castrate."

 :shock:

 

I think I posted this in another thread but it’s all familiar territory for QPR.  They ousted a registered Italian FIFA agent and mate of Palidini hiding behind one of their Monaco based holding companies.  He later resigned as an agent and now sits on the board of QPR holdings.

I’ve not managed to find anything official relating to agents involved in football clubs but it’s an obvious no go.

[Lumps]

OK here goes...........

Best Holdings doesn't seem to have any kind of web presence. I'm sure we've all looked and they don't feature in any of the places you'd expect to find them, no listing on the Business Week site or anything like that.

That probably indicates that it's a recently created company, and as a holding company it looks likely that it was created specifically as a front for this investment / "buyout".

Perhaps we shouldn't get too carried away by the Portugese incorporation of the company. People have assumed that this means a Portugese investor but it's as likely that the company's been formed there to take advantage of the tax benefits that are offered to "pure" holding companies (SGPS "Sociedade Gestora de Participações Sociais") based there.

As for Stuart Little........... Well we know his background is in Private Equity -(Arkega Group), and that recently he's been working at Cork City playing some sort of trouble shooter role sorting out all the administrative functions. But I'm fairly sure the Cork City investment was a private one for him rather than through Arkega, as it isn't listed on their website and the web talk is that in leaving there he's now "rolling his investment up" into Arkega. So I guess he's been hand picked by the holding company to come in to front this thing. Either that or he has some investment in the holding comany himself.

So where does that leave us?

Well we've got a club owned by a front company, chaired by a front man, and still run by the same bunch of clowns who've run it into the ground for the last 5 years.

Last month we were furious with these people and were determined to get rid of them. This month.........................  Well at least the CVA might get paid.

This is going to go one of two ways for me:

1. This holding company represents genuine new money, new investors who may or may not include Mr Little, but have put him in there to sort things out as at Cork City. He'll start a root and branch review of operations and pretty soon the P45's will start getting issued

2. The holding company is the answer to the question of where all the sodding money coming into the club has gone over the last year. SSW and the others around him have been reclaiming all their loans and debentures and have parcelled it up into an investment fund to put through this new holding company, neatly taking the Wills family out of the firing line in the ongoing row with the fans. In this case Mr Little is either a hired mouthpiece or a partner. Either way sooner or later I'd expect him to get hacked off with the incompetence of the current regime and tell them to stuff it.

We'll see soon enough won't we.

In the mean time, one question, how exactly does a mystery front company pass the FA's fit and proper persons test?

[Luci]

That is VERY good post.

[genf_stfc]

What does Dionisio do on Mondays to Saturdays then ...

"... the envolvement of this company of Portuguese agents Dionísio and Sundays I castrate."

 :shock:

we've all got to have hobbies !

[TalkTalk]

What does Dionisio do on Mondays to Saturdays then ...

"... the envolvement of this company of Portuguese agents Dionísio and Sundays I castrate."

 :shock:

Ha ha yeah, I thought that was quite good.

Scary that "Castro" in Portuguse translates to "castrate" in English.

The Castration Brothers?  :shock:

[lebowski]

castrate castro?

i love all the hysterics and dramatics on this thread, keep it up boys and girls  

[ghanimah]

In the mean time, one question, how exactly does a mystery front company pass the FA's fit and proper persons test?

Very good question and also one that applies to Thaksin Shinawatra of Man City. However it appears that this criteria doesn't seem to be enforced regarding Football Clubs.

[redbullzeye]

OK here goes...........

2. The holding company is the answer to the question of where all the sodding money coming into the club has gone over the last year. SSW and the others around him have been reclaiming all their loans and debentures and have parcelled it up into an investment fund to put through this new holding company, neatly taking the Wills family out of the firing line in the ongoing row with the fans. In this case Mr Little is either a hired mouthpiece or a partner. Either way sooner or later I'd expect him to get hacked off with the incompetence of the current regime and tell them to stuff it.

As I understand it, with a CVA ongoing, this action would be tantamount to fraud as first dibs should go to the creditors.  Can any experts comment?

[The_Plagiarist]

Isn't Lady wills the major creditor though?

[Fred Elliot]

As I understand it, with a CVA ongoing, this action would be tantamount to fraud as first dibs should go to the creditors.  Can any experts comment?

Nail Head Hit

[figgis]

maybe they had the money to pay the cva all along and the investment via the holding co is no more than a smokescreen and there is no investment just same crap different wraping paper.

[wheretherealredsare]

OK here goes...........

2. The holding company is the answer to the question of where all the sodding money coming into the club has gone over the last year. SSW and the others around him have been reclaiming all their loans and debentures and have parcelled it up into an investment fund to put through this new holding company, neatly taking the Wills family out of the firing line in the ongoing row with the fans. In this case Mr Little is either a hired mouthpiece or a partner. Either way sooner or later I'd expect him to get hacked off with the incompetence of the current regime and tell them to stuff it.

As I understand it, with a CVA ongoing, this action would be tantamount to fraud as first dibs should go to the creditors.  Can any experts comment?

And in effect the club has bought itself in part at least with monies raised from transfers, a concert, ticket sales etc to the benefit of the then board. This could also explain why they may not have been too fussed about some of the things they uncovered i.e. knew about already. Also if they were waiting for money from season ticket sales, transfer instalments, shirt sales in fact any income to squeeze the last drop from the club, this is why the takeover was dragged out for so long. Remember bank account shortfalls, chasing sponsorships.

[Simon Pieman]

Anyone reckon dearest Jim isn't interested in a stadium development because the current lot have said they'll sort out that side of things?

Maybe they were impressed with the plans in Mr Whippy's head!


On a slightly more serious note, I was surprised at this news. Especially as it appeared Jim Little may have been bringing his own 'team' in.