Pages: 1 2 [3] 4 5 6 ... 51   Go Down
Print
Author Topic: Court cases  (Read 154154 times)
Lash_sumthin

Offline Offline

Posts: 466





Ignore
« Reply #30 on: Tuesday, May 19, 2020, 20:33:12 »

All pretty shady

(1) Mr Standing says that there was an oral agreement on or around 20 March 2013 between him and Mr Power whereby they would purchase the Club on a 50/50 basis on these terms:
(e) Mr Standing's beneficial interest in the Club would be kept confidential.

(2) Mr Power says that there was a meeting in March 2013 at Mr Barry's house attended by him and Mr Standing. At that meeting, Mr Power says he reached an oral agreement with Mr Barry in the following terms:
(b) Mr Barry would not own any shares in the Club whether directly or indirectly but he would be entitled to 50% of the profits arising from any increase in value of the Club, including 50% of net profits arising from sales of certain players.

Even though the terms are similar the crucial term that is not is in relation to whether the investor, whether that is Mr Standing or Mr Barry, owns beneficially 50% of the shares in Swinton. The reason why there had to be confidentiality about the beneficial interest, if there was one, or the fact of Mr Standing's or Mr Barry's involvement, was because of the Football Association's rules concerning the ownership of football clubs. Mr Standing has an interest in a company called First Touch Professional Management Ltd (FTPM) which is involved in the football agency business. Its main client is Mr Barry. The FA's regulations are now contained in the FA Regulations on Working with Intermediaries and they prohibit football intermediaries/agents from owning or having interests in football clubs. Mr Barry remains as a professional footballer, currently playing for West Bromwich Albion FC, and he too was unable to hold shares in any football club.

Logged
JBZ
Not as likeable as Reg was, a fencesitting WUM

Offline Offline

Posts: 3264


Allegedly, not a Swindon Town supporter




Ignore
« Reply #31 on: Tuesday, May 19, 2020, 20:39:10 »

We know nothing about them do we?

Or even if they exist.

LP says that there is an offer from one or more entities. If he says it they must exist surely?

There is usually a healthy level of mistrust when our American friends express an interest in a 'sahker' franchise, regardless of what we may or may not know.
Logged

Nothing to see here
theakston2k

Offline Offline

Posts: 5301




Ignore
« Reply #32 on: Tuesday, May 19, 2020, 20:54:44 »

All pretty shady

(1) Mr Standing says that there was an oral agreement on or around 20 March 2013 between him and Mr Power whereby they would purchase the Club on a 50/50 basis on these terms:
(e) Mr Standing's beneficial interest in the Club would be kept confidential.

(2) Mr Power says that there was a meeting in March 2013 at Mr Barry's house attended by him and Mr Standing. At that meeting, Mr Power says he reached an oral agreement with Mr Barry in the following terms:
(b) Mr Barry would not own any shares in the Club whether directly or indirectly but he would be entitled to 50% of the profits arising from any increase in value of the Club, including 50% of net profits arising from sales of certain players.

Even though the terms are similar the crucial term that is not is in relation to whether the investor, whether that is Mr Standing or Mr Barry, owns beneficially 50% of the shares in Swinton. The reason why there had to be confidentiality about the beneficial interest, if there was one, or the fact of Mr Standing's or Mr Barry's involvement, was because of the Football Association's rules concerning the ownership of football clubs. Mr Standing has an interest in a company called First Touch Professional Management Ltd (FTPM) which is involved in the football agency business. Its main client is Mr Barry. The FA's regulations are now contained in the FA Regulations on Working with Intermediaries and they prohibit football intermediaries/agents from owning or having interests in football clubs. Mr Barry remains as a professional footballer, currently playing for West Bromwich Albion FC, and he too was unable to hold shares in any football club.


Most immediate concern is are we in breach of FA ownership laws and therefore in the shit?
Logged
REDBUCK

« Reply #33 on: Tuesday, May 19, 2020, 20:59:49 »

Points deduction incoming
Logged
Panda Paws

« Reply #34 on: Tuesday, May 19, 2020, 21:13:19 »

Very early for any conclusion but my instinct is that Power’s not a fool and there’s too much money here for it not have been legalled beforehand.
Logged
theakston2k

Offline Offline

Posts: 5301




Ignore
« Reply #35 on: Tuesday, May 19, 2020, 21:20:45 »

Noticing that all the trolls are saying this shows they were right and they knew this all along.... despite never having said anything other than about the Clem fall out.
Logged
Flashheart

« Reply #36 on: Tuesday, May 19, 2020, 21:22:16 »

Noticing that all the trolls are saying this shows they were right and they knew this all along.... despite never having said anything other than about the Clem fall out.

I bet a lot of them are delighted.
Logged
Cheltred

Offline Offline

Posts: 180




Ignore
« Reply #37 on: Tuesday, May 19, 2020, 21:23:31 »

Very early for any conclusion but my instinct is that Power’s not a fool and there’s too much money here for it not have been legalled beforehand.
Well it does seem that whatever his faults he's not a fool
Logged
JoeMezz

Offline Offline

Posts: 2666





Ignore
« Reply #38 on: Tuesday, May 19, 2020, 21:24:48 »

From what I've read seems like the club itself is quite well protected, in terms of Power using club to pay for his debts. Power wants to sell but Standing/Barry (who own 50% of the club) want to view finances of the club before they agree to a sell. Power not willing to let them do this so we have a stand off.
Logged
Legends-Lounge

Offline Offline

Posts: 8153

Non PC straight talking tory Brexit voter on this




Ignore
« Reply #39 on: Tuesday, May 19, 2020, 21:27:18 »

Wonder what the trust have to say?
Logged
Ardiles

Offline Offline

Posts: 11528


Stirlingshire Reds




Ignore
« Reply #40 on: Tuesday, May 19, 2020, 21:32:31 »

Wonder what the trust have to say?

'Oh fuck.'  Or something similar, I'd imagine.  Just like the rest of us.
Logged
SuggWillSugg MBE

Offline Offline

Posts: 2938





Ignore
« Reply #41 on: Tuesday, May 19, 2020, 21:32:38 »

I bet a lot of them are delighted.

Saw my first 'Power Out' in a while earlier. It was like welcoming back an old friend.
Logged

Batch
Not a Batch

Offline Offline

Posts: 55163





Ignore
« Reply #42 on: Tuesday, May 19, 2020, 21:45:36 »

it also means .. no... it...
the Adver...

were
..

right


https://www.swindonadvertiser.co.uk/sport/17973711.documents-show-able-company-swindon-llcs-interest-purchasing-swindon-town-club-continues-deny-approach-made/
Logged
Costanza

Offline Offline

Posts: 10643





Ignore
« Reply #43 on: Tuesday, May 19, 2020, 21:47:22 »

....and the Adver Sports Desk alumni from that time are lapping it up accordingly.
Logged
Quagmire

Offline Offline

Posts: 4598





Ignore
« Reply #44 on: Tuesday, May 19, 2020, 22:02:17 »

I deleted my Twitter and Facebook accounts yesterday - seems like I timed it to perfection.
Logged
Pages: 1 2 [3] 4 5 6 ... 51   Go Up
Print
Jump to: