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Author Topic: Lee Power  (Read 526217 times)
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« Reply #3795 on: Wednesday, August 4, 2021, 07:19:48 »

What was the overall debt when he took over?
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« Reply #3796 on: Wednesday, August 4, 2021, 07:39:45 »

What was the overall debt when he took over?

I always thought other than the resale debentures that there wasn’t any debt, however, like pretty much all things related to Swindon Town FC and the TEF, there is bound to be contrary opinion and possibly a different story.
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« Reply #3797 on: Wednesday, August 4, 2021, 07:42:07 »

The fact that Black effectively left the club debt free is what attracted the shysters - Jed followed by Power.
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« Reply #3798 on: Wednesday, August 4, 2021, 08:21:52 »

I always thought other than the resale debentures that there wasn’t any debt, however, like pretty much all things related to Swindon Town FC and the TEF, there is bound to be contrary opinion and possibly a different story.
You're forgetting the debt that dated back to the 1950s I think... Wink
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« Reply #3799 on: Wednesday, August 4, 2021, 10:43:04 »

The fact that Black effectively left the club debt free is what attracted the shysters - Jed followed by Power.

Black left the club with debt, but only debt to himself. Not sure how much it was though.
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« Reply #3800 on: Wednesday, August 4, 2021, 10:47:43 »

Black left the club with debt, but only debt to himself. Not sure how much it was though.
Have a feeling it was ~£2mn to be paid upon future sale, but may be wrong
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« Reply #3801 on: Wednesday, August 4, 2021, 12:42:34 »

Just shy of 2m was stated on the 2020 Accounts, the terms of which were publicly disclosed as being payable on sale of the business.  Power managed to get Black to hold off on that when he wrestled control from Jed and team, so it would now be due - Power also stated he had purchased this debt from Black himself.
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« Reply #3802 on: Wednesday, August 4, 2021, 12:47:56 »

Every time i see this thread at the top I just want to add "is a Cunt", but not in TEF greeting sort of way
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« Reply #3803 on: Wednesday, August 4, 2021, 12:48:12 »

I think we need to take a deep breath and step back from all of this.

Let the Standing vs Power case resolve itself and let the new owner and his people sort out the issues behind closed doors. We, as fans, need to be focusing on the football and the new season about to start.

The best bit about that is that the club is still in business and we'll b e fielding a team in L2. Lets hope the players can make us proud this year.
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« Reply #3804 on: Wednesday, August 4, 2021, 12:54:33 »

Every time i see this thread at the top I just want to add "is a Cunt", but not in TEF greeting sort of way
Far too polite.
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« Reply #3805 on: Wednesday, August 4, 2021, 12:55:09 »

I assume that Clem hasn't paid any debt to Power I assumed that is what CEO alluded to when he said Clem had a good bunch of lawyers looking at the debt so they didn't pay anything they don't need to.

I really hope they find something that means Power does not get anywhere near what he claims to be owned, although assume either way Standing may have a claim on some of the money anyway.
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« Reply #3806 on: Wednesday, August 4, 2021, 12:57:28 »

I assume that Clem hasn't paid any debt to Power I assumed that is what CEO alluded to when he said Clem had a good bunch of lawyers looking at the debt so they didn't pay anything they don't need to.

I really hope they find something that means Power does not get anywhere near what he claims to be owned, although assume either way Standing may have a claim on some of the money anyway.
Hope he gets absolutely nothing, but bet in the meantime he's already shafting someone else.
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« Reply #3807 on: Wednesday, August 4, 2021, 13:20:05 »

What if, as the "owner" of the debenture which requires payment on the sale of the club from the proceeds of that sale it transpired that Power now owes himself GBP2 million? That would be karma Smiley
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« Reply #3808 on: Thursday, August 5, 2021, 11:12:49 »

Looks like Taylor Curran's lovely father is showing how much of a nasty bit of work he is.

https://www.daletrust.co.uk/2021/08/trust-contact-efl-over-comments/

The positive thing is that Supporters Trusts now appear to be getting more and more involved with takeovers, the running of clubs and these characters are hopefully going to be weeded out of the game.
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« Reply #3809 on: Thursday, August 5, 2021, 12:26:49 »

Looks like Taylor Curran's lovely father is showing how much of a nasty bit of work he is.

https://www.daletrust.co.uk/2021/08/trust-contact-efl-over-comments/

The positive thing is that Supporters Trusts now appear to be getting more and more involved with takeovers, the running of clubs and these characters are hopefully going to be weeded out of the game.

Looks like their trust are being quite smart, sounds like Curran et all are trying to take over there via the backdoor, hopefully it can be stopped though.
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