The Board, consultancy fees, Mercs and how to identify a duck

[ChalkyWhiteIsGod]

Black's tweets are actually fairly open to interpretation. The simple fact is no one knows for sure. But looking through tweets and old articles I still don't think Black took this out, it was simply a case that he wasn't putting any more in to cover costs.

[Flashheart]

I don't really see why it's relevant either who funded the club during that period, it's of more concern who is actually running the club at the present moment.

Just trying to question the notion that the new board came in and had no losses to cover because they had the money from the Matt Ritchie transfer at their disposal.

[Flashheart]

Anyway, it was just a thought bought about by the idea that the trust could have taken over for a quid. That would only have been possible if there was no need to cover losses, at least until the budget could be reduced.

[Flashheart]

On another note, I stumbled across this while digging about:

Swindon inserted sell-on and promotion clauses into the winger’s contract at Dean Court, although the finer details remain unclear.

http://www.swindonadvertiser.co.uk/news/10200710.Why_we_had_to_sell_Ritchie/

[ChalkyWhiteIsGod]

Even with the pending Flint Sale and season ticket Sales I think there's enough to bridge the gap until the budget comes down in the "If the trust took over" scenario.

I stand by that we missed a golden opportunity for the fans to own debt free Swindon Town Football Club.

[ChalkyWhiteIsGod]

To add to that, even then you have the option of selling investment. If the fans owned 100% of STFC there would be a chance to sell 49% of shares in STFC to investors in future, to help with further investment whilst still maintaining control the the club.

It's a chance we may never get again.

[DRS]

To add to that, even then you have the option of selling investment. If the fans owned 100% of STFC there would be a chance to sell 49% of shares in STFC to investors in future, to help with further investment whilst still maintaining control the the club.

It's a chance we may never get again.

So what are you going to do about that

[sonicyouth]

To put it into perspective, the Trust can't afford to issue membership cards, seem incapable of communicating effectively with members and hold open meetings where matters discussed are not to be divulged publicly.

I'd love to see STFC owned by fans, via the Trust or any other body, but there is no way in hell they're in a position to run the club at present. We're all to blame for resting on our laurels whilst the Fitton/Wray sun shone brightly...

[Batch]

I agree Sonic (and RobT), I think the Trust could take over at some point, but not immediately or even in the short term. I am not sure it would be the best option anyway without investors also on board, and I say that as a supporter of the Trust and the whole necessity of having one.

The Ritchie sale was surely solely to keep the club going regardless of how you interpret it - Black/old board thinking it needed doing as no sale was coming, or Black selling to give the new board more time. Either way I can't see it being a personal money making exercise.

[TungstenCarbide]

We probably have missed the one real opportunity the Trust has had to have bought the club outright.

I desperately want to believe in Jed and his band of geeeeeezers but if something smells this fishy for this long you'd normally either chuck it in the bin or send it to the clinic. I am almost still inclined to give Lee Mack/Jed the benefit of the doubt and see what new faces sign this summer; if it is just unproven kids then we do need to panic about the motives/backing of our new owners.

In the long term I'd be happy with being league 2 dross and fan owned rather than feel this unsettled about the club I love. Prove me wrong fatman...

[Flashheart]

The Ritchie sale was surely solely to keep the club going regardless of how you interpret it - Black/old board thinking it needed doing as no sale was coming, or Black selling to give the new board more time. Either way I can't see it being a personal money making exercise.

I wasn't suggesting it was a money making exercise.

I just can't imagine the likelihood of picking up a business for a quid, it's assets and a fat wad of cash to pay the bills for a while.

[ChalkyWhiteIsGod]

So what are you going to do about that

Go back in time, join the trust and suggest contacting Andrew Black about taking over for a quid? I really don't know anything can be done.

[Flashheart]

Go back in time, join the trust and suggest contacting Andrew Black about taking over for a quid? I really don't know anything can be done.

Do you think the FL would approve the takeover?

[Samdy Gray]

I wasn't suggesting it was a money making exercise.

I just can't imagine the likelihood of picking up a business for a quid, it's assets and a fat wad of cash to pay the bills for a while.

It was a joint decision wasn't it?

Black sanctioned the sale because it prevented him from having to chuck in another £500,000 in January.

[cheltred69]

I can't see we'll ever know the full details of the sale, but I must admit the Flasheart version isn't one that had crossed my mind.
I assumed that Black agreed to write off all of the club's debts to him and then to sell the club and all of its assets at the time of agreement. He wasn't prepared to loan or gift the club anything more but nor was he looking to liquidate any of the assets so he could away with proceeds. If the sale had completed before the end of Jan then Jedco would have had Ritchie, so it seems reasonable to assume that when the sale of the club actually completed they had access to whatever was remaining from proceeds of that asset sale.

Also, when was it said that Jed has loaned anything to the club? I must have missed this.