Lee Power siphoning off funds

[horlock07]

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?

[horlock07]

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.

[Tails]

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.

[horlock07]

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!

[The Artist Formerly Known as Audrey]

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

[chalkies_shorts]

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.

[horlock07]

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.

[horlock07]

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?

[The Artist Formerly Known as Audrey]

Agreed. But it's hardly stretching your imagination that he may well leave us in the shit, too.

[suttonred]

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.

[Batch]

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.
--------

[Sippo]

Jesus H, is the whole topic going to go round the houses again?

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

[Reg Smeeton]

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....

[suttonred]

Is it my imagination? Or did Leroy own up to doing that?

[Batch]

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.