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Author Topic: The Club Charged By The FA  (Read 84265 times)
JBZ
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« Reply #660 on: Saturday, April 17, 2021, 10:09:27 »

I think it is fair to say that the intricacies can sometimes elude the average (or 'normal' to adopt the term oft used on this forum) supporter. 
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The Artist Formerly Known as Audrey

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« Reply #661 on: Saturday, April 17, 2021, 10:28:01 »

Why would Andrew Black sell his £2m debenture to Power for way less than its value?
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« Reply #662 on: Saturday, April 17, 2021, 10:31:25 »

Why would Andrew Black sell his £2m debenture to Power for way less than its value?

Some money better than none if it opens a sale up?
Tax loss?
Wants clean break on books?
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Formerly Drummer Boy

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« Reply #663 on: Saturday, April 17, 2021, 11:28:17 »

Why would Andrew Black sell his £2m debenture to Power for way less than its value?

It's pretty common business transaction to sell debt for less than it's worth. The higher the risk profile in being unable to get the money back, the less it's worth. Black may have wanted some extra liquidity for whatever business ventures he's currently involved with to get through COVID?

A prime example of this is like DFS offering interest-free finance deals but all they are doing is selling you a sofa in credit but then selling that debt onto a third party to repay. DFS charge the 3rd party provider 85% cost of the sofa, DFS get 85% of the sale value in immediate cash and the third party make 15% out of the repayments.

Mind you, it's that sort of shit that led to the global financial crisis 
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Flashheart

« Reply #664 on: Saturday, April 17, 2021, 11:40:08 »

The 1 quid in itself does not bother me in the slightest - I get it. It's that Power would take the quid over Clem's 15 million that makes me uneasy.

I know the American's are supposedly paying off the debt (so it's actually a lot more than 1 quid), and Power ends up making some spondoolies himself, but how much debt must there be for ABEL's offer if it is preferable to Clem's? Or maybe there's something Power is trying to hide from certain people?
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The Artist Formerly Known as Audrey

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« Reply #665 on: Saturday, April 17, 2021, 11:44:50 »

FH.

Where have you got £15m from. All previous reports were £7.5m.
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Cowley38

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« Reply #666 on: Saturday, April 17, 2021, 11:47:18 »

The 1 quid in itself does not bother me in the slightest - I get it. It's that Power would take the quid over Clem's 15 million that makes me uneasy.

I know the American's are supposedly paying off the debt (so it's actually a lot more than 1 quid), and Power ends up making some spondoolies himself, but how much debt must there be for ABEL's offer if it is preferable to Clem's? Or maybe there's something Power is trying to hide from certain people?

Power hiding something?

Surely not?

Power wants to sell and get out if dodge ASAP,  soon as possible because he's aware of those skeletons that are going to come tumbling out of the closet......

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Flashheart

« Reply #667 on: Saturday, April 17, 2021, 12:10:00 »

FH.

Where have you got £15m from.

I don't remember. There's a chance my subconscious made it up without telling me.
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Legends-Lounge

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« Reply #668 on: Saturday, April 17, 2021, 12:19:26 »

Accept my apologies in advance if what I’m about to say has already been mentioned and dissected to death.

Power is not going to let the club go into admin, bankruptcy, insolvent or whatever is the case. It came to me earlier this morning when I was trying to explain to an acquaintance what is happening or my take on it if you will.

Power is going to sell the training ground, with STFC bolted onto it for a nominal £1. We ALL know there is no value in the club because there are no tangible assets either the freehold or players. The mullah is in the training ground. There will be NO training facility for anyone to play on what so ever. Now there is planning for a small number of houses on that site where do you think the next step is going to be? Yes, full development in the near future, this is of course Horlocks field of expertise. This is why the three amigos are desperate to stop the sale of the club to ABLE. There are clearly grubby hands, shady characters and a pallet of brown envelopes waiting to be filled with £, $, € SwFr.

That way he does not have to pay up anyone he owes money to. He really is a devious individual.
« Last Edit: Saturday, April 17, 2021, 12:24:42 by Legends-Lounge » Logged
The Artist Formerly Known as Audrey

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« Reply #669 on: Saturday, April 17, 2021, 12:30:18 »

Surely a training facility would have to be built before any sort of leasing of it can occur.

I take it you’re suggesting a Kassam kind of arrangement - build a shitty ground and tie the club into renting it for an extortionate amount.
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Frigby Daser

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« Reply #670 on: Saturday, April 17, 2021, 12:48:06 »

Accept my apologies in advance if what I’m about to say has already been mentioned and dissected to death.

Power is not going to let the club go into admin, bankruptcy, insolvent or whatever is the case. It came to me earlier this morning when I was trying to explain to an acquaintance what is happening or my take on it if you will.

Power is going to sell the training ground, with STFC bolted onto it for a nominal £1. We ALL know there is no value in the club because there are no tangible assets either the freehold or players. The mullah is in the training ground. There will be NO training facility for anyone to play on what so ever. Now there is planning for a small number of houses on that site where do you think the next step is going to be? Yes, full development in the near future, this is of course Horlocks field of expertise. This is why the three amigos are desperate to stop the sale of the club to ABLE. There are clearly grubby hands, shady characters and a pallet of brown envelopes waiting to be filled with £, $, € SwFr.

That way he does not have to pay up anyone he owes money to. He really is a devious individual.

Quite a few assumptions in there.

There’s also a few assumptions flying around that Morfuni is a knight in shining armour. He has a small construction company based in Australia, and through nothing more than small scale sponsorship, professes an undying love for the club and its fans, and says that he has no interest in *any* other club. I’m pretty wary about that. I’d be more encouraged if he wanted involvement in football generally. What is it about Swindon to someone who hadn’t come across the club before c. 2016? People seem to be very probing about ABLE’s interests, but happy to accept Morfuni’s FanEngagement101 script.

I’ll remain cautious but hopeful about Morfuni, and open about anyone else when there are no facts known. There are good reasons investors do not make themselves known - not least the fact a pending investment in a notoriously dangerous market (lower league football) could affect the value of any other investments it has.

I accept that Morfuni has offered fan representation on the board, which is a big positive *if* representation means something in substance. A non-exec director or fan rep can be seen and not heard, have zero practical influence on decision making and can be dismissed quickly. Hopefully the Trust have more assurances as to their prospective role from Morfuni than simply “being in the room” because there are many questions still unanswered. This is not a binary discussion.
« Last Edit: Saturday, April 17, 2021, 12:51:24 by Frigby Daser » Logged
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« Reply #671 on: Saturday, April 17, 2021, 12:53:27 »

All that's fair enough.

I don't know if Morfuni has other backers, but based on his company profile I doubt he's rich enough to go solo.

Able, know even less about them.
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Legends-Lounge

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« Reply #672 on: Saturday, April 17, 2021, 12:59:02 »

Quite a few assumptions in there.

There’s also a few assumptions flying around that Morfuni is a knight in shining armour. He has a small construction company based in Australia, and through nothing more than small scale sponsorship, professes an undying love for the club and its fans, and says that he has no interest in *any* other club. I’m pretty wary about that. I’d be more encouraged if he wanted involvement in football generally. What is it about Swindon to someone who hadn’t come across the club before c. 2016? People seem to be very probing about ABLE’s interests, but happy to accept Morfuni’s FanEngagement101 script.

I’ll remain cautious but hopeful about Morfuni, and open about anyone else when there are no facts known. There are good reasons investors do not make themselves known - not least the fact a pending investment in a notoriously dangerous market (lower league football) could affect the value of any other investments it has.

I accept that Morfuni has offered fan representation on the board, which is a big positive *if* representation means something in substance. A non-exec director or fan rep can be seen and not heard, have zero practical influence on decision making and can be dismissed quickly. Hopefully the Trust have more assurances as to their prospective role from Morfuni than simply “being in the room” because there are many questions still unanswered. This is not a binary discussion.

Easy tiger. Until anyone has anything concrete ALL comments are an assumption. You’ve only parroted what is in the public domain, thanks for that. My comments are mine alone an May or may not bare fruit So to speak. Anticipating  your hypothesis with excitement.
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Cowley38

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« Reply #673 on: Saturday, April 17, 2021, 13:06:53 »

All that's fair enough.

I don't know if Morfuni has other backers, but based on his company profile I doubt he's rich enough to go solo.

Able, know even less about them.

Morfuni has a very wealthy backer , hence why the plans he set out were very ambitious
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JBZ
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« Reply #674 on: Saturday, April 17, 2021, 13:10:11 »

Morfuni has a very wealthy backer , hence why the plans he set out were very ambitious

Interesting and perhaps not as transparent as suggested
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