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Author Topic: Court Case  (Read 17450 times)
ron dodgers

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« Reply #375 on: Sunday, February 7, 2021, 17:01:03 »

I got one,it's very nice
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JBZ
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Gotta love those who think they are ITK




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« Reply #376 on: Sunday, February 7, 2021, 17:12:25 »

LP thanks you for your support
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bamboonoclue

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I'm no longer pretending to be ITK... I am ITK!




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« Reply #377 on: Sunday, February 7, 2021, 23:59:57 »

perhaps your confusion lies with the inability to separate legal and emotional ownership.

I am pretty sure no fan thinks they own the club, with the possible exception of Football Phil

Spot on Batcherino. Some appear to lack on the empathetic attachment most would have towards "their" club. Like Flashheart stated the other day, we stand by "our" club even when she is riding the roughest of waves because we know it will get better eventually and when it does, hell it will be awesome.
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JBZ
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« Reply #378 on: Monday, February 8, 2021, 00:35:53 »

Or they just understand how stuff works and look at things in a rational way.
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Red flash clouds choking out the morning sky
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bamboonoclue

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« Reply #379 on: Monday, February 8, 2021, 03:01:01 »

People that have severe emotional detachment or shallow emotional experiences tend to have psychopathic tendencies.
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wheretherealredsare
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« Reply #380 on: Monday, February 8, 2021, 09:13:22 »

People that have severe emotional detachment or shallow emotional experiences tend to have psychopathic tendencies.

The same applies to extreme attachment and deep experiences, I believe.
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horlock07

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« Reply #381 on: Monday, February 8, 2021, 10:41:34 »

85% or 35% depending on the court case.

Just to step back a bit, didn't Power admit that the takeover was in conjunction with AN Other with Power holding shares in Trust for AN Other, isn't his argument that AN Other is Barry rather than standing, countered by Barry saying that yes he did provide funding but only as a loan to his mate Standing, and if the court found that he and not Standing had the interest in the club he would assign it to Standing for £1.
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Batch
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« Reply #382 on: Monday, February 8, 2021, 11:03:42 »

Quote
"In the other case, Michael Standing is claiming to be a 50% beneficial owner of Swindon Town following a verbal
agreement with Lee Power and a circa £3.8m investment. Lee Power submitted a defence in this case and suggested
that the c£3.8m provided to him by Standing was actually a loan from a footballer, Gareth Barry, and that Standing
(Gareth Barry’s football agent) is not a 50% owner of Swindon Town."

https://www.google.com/url?sa=t&source=web&rct=j&url=https://truststfc.tv/wp-content/uploads/2020/05/SwindonTownReview.pdf&ved=2ahUKEwj0wZ2_kdruAhVLQkEAHaluBckQFjAAegQIARAB&usg=AOvVaw06vP41bUnMbMhZpkeMFz0R


that's the understanding I had too at the time
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The Artist Formerly Known as Audrey

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« Reply #383 on: Monday, February 8, 2021, 11:07:20 »

I still don’t get it. Whether Standing or Barry provided the £3.8m were there no terms set out about what that £3.8m was buying them?

A verbal agreement on nearly £4m? It beggars belief.
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Legends-Lounge

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Non PC straight talking tory Brexit voter on this




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« Reply #384 on: Monday, February 8, 2021, 11:14:20 »

I still don’t get it. Whether Standing or Barry provided the £3.8m were there no terms set out about what that £3.8m was buying them?

A verbal agreement on nearly £4m? It beggars belief.

You’re not the only one scratching their heads at this ‘arrangement’. The problem now for power is he’s going to find it increasingly difficult to leverage any money from any individual and nigh on impossible from an accredited financial institution. No assets or collateral means you’re pretty well fucked. It’s not as if he can put his 50% of the CG freehold up is it.
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The Artist Formerly Known as Audrey

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« Reply #385 on: Monday, February 8, 2021, 11:20:14 »

He doesn’t want any money from anyone to help the club out.

He wants money from somebody to take the club off his hands without giving 50% of it to Standing.

It’s all too apparent he’s given up worrying about things on the pitch. It’s crazy. The longer it goes on the club becomes worth less and less.

It’ll get to the point where even sharing the proceeds of any sale with Standing now is worth more than 100% of it in a year or so’s time.

It’s all brinkmanship now. Who’ll blink first.
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The Artist Formerly Known as Audrey

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« Reply #386 on: Monday, February 8, 2021, 11:23:02 »

Anyone read yesterday’s article on Power/Swindon in Times

https://footballeconomyv2.blogspot.com/2021/02/problems-at-swindon-part-94.html
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Peter Venkman
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« Reply #387 on: Monday, February 8, 2021, 11:27:07 »

Anyone read yesterday’s article on Power/Swindon in Times

https://footballeconomyv2.blogspot.com/2021/02/problems-at-swindon-part-94.html
No but thanks for the link, will have a recce.

https://www.thetimes.co.uk/article/messy-swindon-case-makes-you-wonder-about-motivation-of-those-running-clubs-in-lower-tiers-6pz7wzb7w

Thats the column but I am not a subscriber.
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Panda Paws
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« Reply #388 on: Monday, February 8, 2021, 11:29:02 »

I don't normally like pasting content from behind paywalls but a) this is important b) fuck NewsUK and c) I don't pay for my access.
-----
Swindon Town took a counterintuitive approach to their battle against relegation by selling their best player, the winger Diallang Jaiyesimi, to Charlton Athletic for an “undisclosed sum”. As you might imagine, supporters were not best pleased. Swindon sit in the relegation berths having played more games than the teams above and below them. Under manager John Sheridan they have experienced the least successful run in their history.

They are owned by the former upper-level journeyman player and agent, Lee Power, who informed the fans that their club were on the brink of financial ruin and that he was “surprised we got this far”.

That Power is the owner is a matter of dispute: another journeyman and agent, Michael Standing, insists that 50 per cent of the club’s shares are in his trust. This issue is being played out in the High Court right now, amid scenes you do not always associate with such an august and sober institution. Last week, 140 Swindon fans took the opportunity to dial in to the proceedings via Zoom, or similar — and indeed to participate in a vigorous manner.

Some contented themselves with displaying pornographic images to the court, while others blew raspberries, screamed, or imitated the accent of one of the barristers, which was Scottish.

After one lengthy and erudite peroration from a lawyer a fan could be heard to shout out: “Suck my d***”. You might expect that the High Court officials would have learned how to use the mute button, or just blank the screen.


One barrister informed the judge that the whole procedure had been a “circus” and that perhaps they might reconsider the advisability of allowing half of the Swindon Town South Stand direct access to important matters of law. The judge was seen to nod, wearily.

Lewisham-born Power has kind of owned the club for the best part of eight years and I think it is fair to say that the fans neither trust nor like him terribly much, despite the fact that under his stewardship Swindon were promoted last season from League Two. They have doubts about his veracity when it comes to money, not least his statement that Swindon were on the brink of bankruptcy.

Last year, Power made an out-of-court settlement with an Australia-based businessman Clem Morfuni, who owned 15 per cent of the club. This removed an injunction preventing Power from flogging Swindon without the say-so of Morfuni, which perhaps might give you an indication of where Power’s intentions lie.

Power, who is of Irish descent, also bought ailing Waterford FC in Ireland and had been exploring buying up a football club in Montenegro. I am naive when it comes to financial matters, I admit, but I cannot see why any businessman would buy a lower division football club unless he was either a) so rich the perpetual losses didn’t even touch the sides or b) was altruistic to the point of insanity. I am not convinced that Power falls into either category. Maybe someone can elucidate. It’s not as if Power has much real estate to hawk around from his Swindon acquisition. It is a mystery to me.

Town are helped in their battle against relegation by the parlous state of the clubs around them. Frankly, it is a miracle more have not gone bust this season (and indeed a credit to the Football League). Burton Albion look marooned already and poor Wigan Athletic, denuded last summer of anyone who had even the slenderest notion of how to kick a ball, may well go with them. The rest is a battle between perhaps six clubs.

Meanwhile, the top of the division is not panning out quite as many expected. Charlton, for example, were buoyed by a new owner who promised European football within eight years, and new players were duly brought in. Given their recent results, though, it is remarkable that they are still in the play-off places (having played several more games than the teams around them). Maybe they’ll have to wait an extra year for their inevitable participation in the Champions League.

The other comatose sleeping semi-giants, Ipswich Town, are dangling helplessly in mid-table, although Paul Lambert’s almost unintelligible post-match comments are still worth tuning in for. Nor are Sunderland having it all their own way, back in seventh.

It has long been said that the third tier is the most difficult from which to escape upwards. This was especially true, of course, in the good old days when only two went up and four went down. But it is still true today, especially of the bigger clubs.

Droit de seigneur accounts for nowt when it’s a wet cold night away to Accrington Stanley (currently eighth, since you ask: a club well run on a shoestring).
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Peter Venkman
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« Reply #389 on: Monday, February 8, 2021, 12:27:58 »

Nice to see Pompey fans have a bit of sympathy for us.

http://thepompeychimes.net/forum/viewtopic.php?f=2&t=78995

Our beloved red neighbours down the M4 far less so.

https://www.otib.co.uk/index.php?/topic/210808-trouble-up-the-m4/
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It’s not whether you get knocked down, it’s whether you get up.

We may encounter many defeats but we must not be defeated.
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