Lee Power siphoning off funds

[horlock07]

Power owns the land. He paid £1,300,000.

So obviously he should not expect to recoup any of that investment, that's how it works isn't it?

[Batch]

Kassam built a three sided stadium and through that process is making some money by screwing the club for money, despite also selling the club, Power bought a club with no assets, no real estate and no prospect of either, I suspect he is unlikely to achieve his objective, if that is his sole objective?

Exactly. Some seem to think that he will screw us on the training ground when/if he leaves. The club won't HAVE to train there will they so won't be screwed on that surely.It's how much he charges us while in charge we need to look at.

well, they might have to train there (or at least pay), depends on whatever contract he leaves us with.

[Batch]

Power owns the land. He paid £1,300,000.

So obviously he should not expect to recoup any of that investment, that's how it works isn't it?

 obviously he should. As DRS says, the only concern is how much he charges us. There is clearly a potential for a conflict of interest, DSM style.

With luck he sticks with peppercorn rent, makes a mint on the rest of the land and everyone is happy. I'd settle for market rates!

[garethgillman]

So obviously he should not expect to recoup any of that investment, that's how it works isn't it?


 obviously he should. As DRS says, the only concern is how much he charges us. There is clearly a potential for a conflict of interest, DSM style.

With luck he sticks with peppercorn rent, makes a mint on the rest of the land and everyone is happy. I'd settle for market rates!

The proof is in the pudding as they say, but we will never know what is being paid but he is on radio saying it will be peppercorn rate, from what I can work out he is using the rest of the land for his own interests so that's where he will make the money from, the club will likely be paying for the fit out of the land for it's use so realistically the club got free land which they rent cheaply as Power can then use the rest of the land for what he wants (horse stables and housing are widely tipped).

[The Artist Formerly Known as Audrey]

He wont get much from stables unless he's just indulging a passion.

Housing would be mega-bucks if could get permission on the green belt between Highworth/Lechlade. Unlikely in the short term - if at all.

[garethgillman]

He wont get much from stables unless he's just indulging a passion.

Housing would be mega-bucks if could get permission on the green belt between Highworth/Lechlade. Unlikely in the short term - if at all.

He has horses of his own so would be somewhere to keep them / train them I bet, unlikely to be sold for money

[The Artist Formerly Known as Audrey]

Got a few donkeys at the club, too!

[Tails]

He wont get much from stables unless he's just indulging a passion.

Housing would be mega-bucks if could get permission on the green belt between Highworth/Lechlade. Unlikely in the short term - if at all.

A lot of money to be made from stables....

[ronnie21]

He has horses of his own so would be somewhere to keep them / train them I bet, unlikely to be sold for money

PMSL  No facilities for gallops there, wouldn't be big enough for training facilities even without the footy pitches!  Possibly somewhere for him to keep retired or holidaying horses.  More than likely to become a livery yard or something along those lines.

[Mother Brown]

PMSL  No facilities for gallops there, wouldn't be big enough for training facilities even without the footy pitches!  Possibly somewhere for him to keep retired or holidaying horses.  More than likely to become a livery yard or something along those lines.

A bit like The High Chaparral then.

[ron dodgers]

He has horses of his own so would be somewhere to keep them / train them I bet, unlikely to be sold for money

has he? where are they based?

[ronnie21]

has he? where are they based?

He does own at least one racehorse, it did win recently!!  Obviously stabled at his trainer's premises.  I am sure I read somewhere he also has property in the Faringdon area!

[horlock07]

He does own at least one racehorse, it did win recently!!  Obviously stabled at his trainer's premises.  I am sure I read somewhere he also has property in the Faringdon area!

He is the sole director of Power Bloodstock Ltd which operates in association with racehorse ownership, accounts do not have any details of how many horses are involved?

[Reg Smeeton]

He does own at least one racehorse, it did win recently!!  Obviously stabled at his trainer's premises.  I am sure I read somewhere he also has property in the Faringdon area!

I've never managed to figure out how Power makes his money. 

Historically, you knew how chairmen/owners/directors earned their crust, even before the wonders of the internet age.  So, Wilf Castle, loaves and lardies; Eric Lane, chops and chitterlings; Piggy Williams, farmer; Dick Mattick, teacher and porn star;

Brian Hillier, Calne based unisex hairdressing salon; Willie Carson, jockey and annoying little shit; Bob Holt, old colonial fixer, handy v Mau Mau.

SSW, married into money;  Andrew Black, Betfair; Callum Rice, Bourne Supremacy and did the cruises.

But Power 

[Saxondale]

Lee Power - Investments.  Symptom of the modern age, if you have money you can make money.  You don't need to produce anything or have any talent just put the money in the right places. 

Mind you who knows if he has any money.  According to the internet he had no money but has made by selling all our players and stealing the massive amount of money STFC produce.