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Thingie

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« Reply #15 on: Tuesday, May 19, 2020, 20:35:00 »

typical Town, promoted tomorrow, bust Thursday?
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« Reply #16 on: Tuesday, May 19, 2020, 20:46:42 »

***fingers in ears***

Championeessss
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theakston2k

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« Reply #17 on: Tuesday, May 19, 2020, 20:48:27 »

Seems to be a lot of arguing about who owns the club and therefore gets a say in any sale. The Standing one seems to say that he doesn’t own 50% of the club, it is actually Gareth Barry & he will get 50% from any sale.  The other one is the ongoing argument between Clem and Power.

The Matt Ritchie sell on is the the elephant in the room as he was sold by Black was he not?
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tans
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« Reply #18 on: Tuesday, May 19, 2020, 20:49:54 »

They are on about sell on fee received when he was sold to Newcastle  i think.

I didnt think we had one to be honest
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« Reply #19 on: Tuesday, May 19, 2020, 20:50:15 »

I think they mean a sell on from a subsequent sale?

Was there such as sell on? If not then something doesn't add up. 
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theakston2k

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« Reply #20 on: Tuesday, May 19, 2020, 20:52:25 »

They are on about sell on fee received when he was sold to Bournemouth i think.

I didnt think we had one to be honest
What I mean is it was Patey/Black that sold Ritchie so Standing/Barry/Power negotiating a sell on seems odd.
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JBZ

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« Reply #21 on: Tuesday, May 19, 2020, 20:54:47 »

The reports concern applications for interim relief and cross undertakings to cover LP's loss if the substantive claim fails.

In the Standing matter, some doubt was cast on LP's position on the club's financial position and the risk of administration-

"I also have my doubts about Mr Power's evidence that if the deal with Able falls through the Club would be likely to have to go into administration because of his inability to fund its ongoing losses. His evidence stated that the Club would "require in the region of £700,000 to £750,000 between May 2020 and August 2020 in order to continue operating" and that he was unable to provide this. He said that this is exacerbated further by the present pandemic and the loss of the rest of the home game receipts for this season.
However, there is no evidential support for these figures and it is mere assertion by Mr Power. No up-to-date accounts or any financial information for the Club have been provided. It seems to me that it would be much more likely that either a sale of the Club to another purchaser would be pursued or that the money would be found to fund the ongoing losses than for the Club to go into some form of insolvency. Mr Standing has always said that, if he had been provided with full current financial information in relation to the Club, then he would resume funding his half share of the Club's working capital requirements. He has also said that he does not accept that Mr Power is himself unable to fund these. It would not be in either of their interests to allow the Club to go into administration and I do not consider that Mr Power has proved that this is a likely outcome from the loss of the sale to Able."
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RobertT

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« Reply #22 on: Tuesday, May 19, 2020, 20:58:26 »

What I mean is it was Patey/Black that sold Ritchie so Standing/Barry/Power negotiating a sell on seems odd.

The Club sold the player, and as such were entitled to the sell on.  It seem all parties confirmed a sell on was triggered and received by the club.  Power has claimed he agrees Barry is owed 50% of that but he is holding it against the 2m owed to Black when they sell the club.  Standing is claiming it's him and not Barry, Barry just shoved him some money to pay for all this.

Clem is claiming 15% of the Shares and is worried Power is selling without his knowledge.

Power is claiming to Clem there isn;t an offer, and to Standing that there is an offer but his mate Barry is due the money not Standing.

Clear as mud.

Looks likely Power has a financial problem somewhere and is muddying the ownership grounds to get some relief via the asset he has in the club.  It's not at all clear if the bid for the club is real or not!
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RobertT

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« Reply #23 on: Tuesday, May 19, 2020, 21:01:37 »

Oh, and Power thinks Barry is due 50% of any increase in value from the original investment.  Standing says he is the person and he in fact owns 50% of the Holding Co.

It's entirely possible, given they both agree it was a verbal agreement between mates, and an Agent, nor footballer, can invest, that Power may win the way they classify that investment.  The rest looks like Power is running fast on quick sand, legally speaking.

The plus side, Standing (probably using Barry's bank account) seems willing to prop the club up even if Power implodes.
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Richie Wellen-Dowd

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« Reply #24 on: Tuesday, May 19, 2020, 21:02:02 »

Seems to be a lot of arguing about who owns the club and therefore gets a say in any sale. The Standing one seems to say that he doesn’t own 50% of the club, it is actually Gareth Barry & he will get 50% from any sale.  The other one is the ongoing argument between Clem and Power.


Power seems to have lied to Standing about money from the Ritchie sell on.
Not told Standing about Axis, then lied about the money they invested.
Not told Axis about the agreement with Standing or Barry.
Tried to keep both parties out of any sale of the club(so he can push it through or skew it in his favour presumably.

He doesn't seem to be disputing much of it. Whether he had a legal obligation to inform Standing of sale discussions, I don't know.

I think they mean a sell on from a subsequent sale?

Was there such as sell on? If not then something doesn't add up.  


It was definitely thought at the time that there was no sell on, which is why it seemed such an incredibly terrible deal. I think we can see now that there was one.
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« Reply #25 on: Tuesday, May 19, 2020, 21:08:35 »

It all strikes me as more a case of power struggles (no pun intended) than an immediate threat to the club itself.
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JBZ

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« Reply #26 on: Tuesday, May 19, 2020, 21:11:07 »

But what about the prospect that the club could fall into the hands of our friends from across the pond?
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JoeMezz

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« Reply #27 on: Tuesday, May 19, 2020, 21:17:20 »

Harry Redknapp was in talks with a League 1 / 2 club recently to buy them...
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suttonred

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« Reply #28 on: Tuesday, May 19, 2020, 21:27:14 »

It all strikes me as more a case of power struggles (no pun intended) than an immediate threat to the club itself.

Small pie too many fingers
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« Reply #29 on: Tuesday, May 19, 2020, 21:28:41 »

But what about the prospect that the club could fall into the hands of our friends from across the pond?

We know nothing about them do we?

Or even if they exist.
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