New beginnings - 25% Truth, 80% Bollocks

[Nemo]

What doesn't tally for me is that it certainly seems Clem doesn't have the cash the run the club, the costs are being cut, and that we owe more and more people money, yet he's seemly not interested in selling the club or getting additional investment.

This is the really thorny bit. He's clearly not interested in running the club, and doesn't seem to be interested in disposing of it either. That's the commonality with the fella at Reading, which obviously is a much more advanced situation.

Hopefully coming weeks will make things clearer.

[Batch]

I’d heard we were trying to get out of the contract, but would be the most Swindon thing if puma said fuck it, and we end up with nobody

Slazenger UP TO 80% OFF specials

[Frigby Daser]

This is the really thorny bit. He's clearly not interested in running the club, and doesn't seem to be interested in disposing of it either. That's the commonality with the fella at Reading, which obviously is a much more advanced situation.

Hopefully coming weeks will make things clearer.

Exactly, and it’s this that fuels the suggestion that there is shady stuff going on, that gives Morfuni and co a reason to hang onto the club. Each day they own it, any fee they get for it drops. The longer he holds onto it, the lower the chance that someone is prepared to buy it. And every day he owns it, the club corrodes, and we lose ground on the many, many clubs with more competent and caring owners.

[Batch]

Lets pretend something dodgy is going on. And nobody has any evidence of that - that's factual not for effect.

Do they have to make money on a business to do it. e.g. money laundering, sacrifice profit in the accounts for the "clean"?

Now I bloody hope that this is a theoretical question!

[Berniman]

Its been widely reported, and Sam Morsehead mentions it in his most recent Ink article, that there have been multiple approaches by other parties interested in the club. Given that is the case, how can Clem liquidating STFC be remotely beneficial for him financially?

What doesn't tally for me is that it certainly seems Clem doesn't have the cash the run the club, the costs are being cut, and that we owe more and more people money, yet he's seemly not interested in selling the club or getting additional investment.

Agree completely, and if Clem didn't have a history of liquidating other businesses I would concur..  but given that this is not his first rodeo with this type of action with his former businesses, it can't not at least hold a finger over the alarm button.

As has been stated before, people do make money out of liquidatiing businesses, not that i am anywhere near smart enough (or dishonest enough) to understand how.

[The Artist Formerly Known as Audrey]

Well, Philip Green made money out of liquidating BHS.

And who was his solicitor in that deal? Bit too close to home.

[ron dodgers]

all the debt letters are not everywhere, they are all in the bin

[Hyabb17]

@mattstfc69 on twitter:

The club is fucked.
Club food for players has been pulled
Travel expenses pulled
Arkells ready to pull the plug
No kit sponsor
No kit manufacturer yet
Security not paid

This is from a former player who works in the club
#STFC

This appears to have been deleted.

[Nemo]

Well, Philip Green made money out of liquidating BHS.

And who was his solicitor in that deal? Bit too close to home.

Well yes, but he has since won a Trust Hero award.

More pertinently, BHS had some assets to strip!

[ChalkyWhiteIsGod]

I would imagine there are clauses they can pull the plug if we dont pay them AGAIN

'Legacy issues' are Clems legacy now.

[ChalkyWhiteIsGod]

Its been widely reported, and Sam Morsehead mentions it in his most recent Ink article, that there have been multiple approaches by other parties interested in the club. Given that is the case, how can Clem liquidating STFC be remotely beneficial for him financially?

What doesn't tally for me is that it certainly seems Clem doesn't have the cash the run the club, the costs are being cut, and that we owe more and more people money, yet he's seemly not interested in selling the club or getting additional investment.

I very much doubt the money put in his his money. Its probably MTK cocaine money being washed who are then getting their strength and conditioning fees back.

Still either way, I doubt he'd want to liquidate and must think he can get a better offer if he's holding out for more.

[ChalkyWhiteIsGod]

This is the really thorny bit. He's clearly not interested in running the club, and doesn't seem to be interested in disposing of it either. That's the commonality with the fella at Reading, which obviously is a much more advanced situation.

Hopefully coming weeks will make things clearer.

Probably not allowed to if the disorganised crime gang are getting their cut of revenue. They need settling up if he was to sell and probably can't afford to or they simply don't want the scheme to finish.

Especially as people with links to Hart are already being investigated for money laundering in boxing.

[ChalkyWhiteIsGod]

Lets pretend something dodgy is going on. And nobody has any evidence of that - that's factual not for effect.

Do they have to make money on a business to do it. e.g. money laundering, sacrifice profit in the accounts for the "clean"?

Now I bloody hope that this is a theoretical question!

I mean ideally the business would make money, but its not essential for it to work.

[RobertT]

There are ways to make money without making a profit, some not so clean.  There is also the ground, which is now an asset with a partial freehold and long term lease.  Even just getting a planning permission could increase that as well.

Clem has shown he is more than OK with putting a business into liquidation and hiding from creditors - we have his word for it and some numbers in the accounts that it is "his" money.  However, we can already see the short term debt increasing rapidly, so a lot of the funding gap is being met by paying late or not at all.  We already have another creditor suggesting he moved money around to avoid paying them.

[theakston2k]

‪I’d say based on evidence at hand and the complete lack of communication from the club and Morfuni which includes next to no promotion of season tickets then it’s more likely true than not.

I wouldn’t be surprised if the whole future of the club is dependent on selling a few of the youngsters to maintain any kind of cash flow over the summer.