New beginnings - 25% Truth, 80% Bollocks

[Batch]

That won't work in the long run as the club will only ever be worth X amount.

I assume he'd saying he'd take a % of the profit on the sales of players (not unusual for football).

[Bob's Orange]

Unlike me, you've got a point.

haha, well played that man

[DiV]

His claim has always been that the loans have been interest free. Whether that's ture or not remains to be seen.

Maybe interest free whilst he’s the owner of the club. Would that still stand up if the club was sold?
Loaning your own business money interest free makes sense. It doesn’t when it’s someone else’s business.

Also, let’s say the club owe Clem 2m and he tries to sell the club but the potential new owners don’t have a spare 2m to pay Clem back - I’m sure Clem could/would  negotiate terms where he’s repaid little & often rather than a one off hit but there needs to be something in it for him, like interest (and/or a % of future transfer fees) or something linked to future earnings from a redeveloped CG.

[Robinz]

If a new owner needs to rely on the existing owner to leave money in the club... surely we would not want that new owner.
Any one who would make a purchase would want to get these chancers out of the business as soon as possible
Not letting them soil it further.
I think this is the big worry... who the hell would buy STFC?
Bit like sticking pins in your eyes and paying for the experience.

[Bob's Orange]

If a new owner needs to rely on the existing owner to leave money in the club... surely we would not want that new owner.
Any one who would make a purchase would want to get these chancers out of the business as soon as possible
Not letting them soil it further.
I think this is the big worry... who the hell would buy STFC?
Bit like sticking pins in your eyes and paying for the experience.

I keep seeing this question and look around the lower leagues and see the clubs that have changed ownership recently. Walsall, Gillingham, Carlisle are three that immediately spring to mind. With no disrespect to those clubs but you have to think we are a better long term bet than those 3 clubs. Of course the skeletons in the closet and the financial history of the club and the current web of ownership makes a takeover probably much more difficult than other clubs. There has been interest in the club from various parties, I know absolutely no details but there have been and continues to be interest. If you take away the absolute shit within the club we are an exciting prospect, of that I have no doubt.

[DiV]

…and the Trust should be getting these interest parties as out in the open as they possibly can.
Fans are much more likely to be united in wanting a change of ownership if they have an alternative to hitch their wagon to, so to speak.

[Robinz]

Bob...
As you say there is to much baggage associated with STFC.
For example, would you bet your house on who actually owns the club currently.

[DiV]

If a new owner needs to rely on the existing owner to leave money in the club... surely we would not want that new owner.
Any one who would make a purchase would want to get these chancers out of the business as soon as possible
Not letting them soil it further.
I think this is the big worry... who the hell would buy STFC?
Bit like sticking pins in your eyes and paying for the experience.

Probably over simplifying it or talking complete bollocks but liken it to buying a house.

Most of can’t afford to buy houses outright but we still buy them. Well in essence the mortgage provider buys them and we pay them back. Why would they want to buy a house for someone who has to rely on them to keep money in?

…because ultimately paying them back little and often + interest is quite beneficial to them & for us we can spread the cost of said house over a number of years. Borrowing then paying back 200k (and interest) over 30 years is a lot easier than finding 200k upfront

Assuming our next owners aren’t Billionaires with money to burn - why would they not consider offering Clem a repayment plan rather than spending 2m on one hit.

[Bob's Orange]

…and the Trust should be getting these interest parties as out in the open as they possibly can.
Fans are much more likely to be united in wanting a change of ownership if they have an alternative to hitch their wagon to, so to speak.

Absolutely. You've mentioned this before and I 100% agree. The Trust need to get out of Morfuni's bed and realise that we are 3 years into his tenure and we've gone absolutely backwards. To be fair there was a sliding doors moment when Garner and Chorley left and you have to wonder what might have happened had both (Chorley more than Garner to be fair) not left. But they did, and what has happened since then has seen us slowly going backwards and given what we are doing with transfers that doesn't look like changing soon.

Perhaps (and maybe I have rose tinted glasses on still) the Trust are working with people and it's why they are deathly silent when it comes to answering questions. I do think now is the time that we do begin to see a different route forward. Unfortunately the Trust have lost a lot of goodwill and so maybe are reticent to get behind an alternative.

[Bob's Orange]

Bob...
As you say there is to much baggage associated with STFC.
For example, would you bet your house on who actually owns the club currently.

I'm a 50p on an accumulator every now and then type guy so no

But seriously, yes the ownership seems to be quite an issue to untangle.

[The Million Pound Man]

I don’t know the answer to this so asking again- if Black and Arbib did sell their debentures to Power, would the sale need to be registered with Companies House?

If not, how would they know when to mark as Satisfied?


https://gbhlaw.co.uk/2022/10/06/gbh-law-help-swindon-town-fc-settle-outstanding-debts/


Club press release states it was Andrew Blacks debenture
https://www.swindontownfc.co.uk/news/2022/october/town-take-huge-step-towards-financial-security/

[Berniman]

I might be making this up but I think that it was mentioned in the bullshit junket last week that it was Curran that called in the debentures, not Power.  I think it might have been in Sam's interview, either that or Hawes.

[STFC_Manc]

I keep seeing this question and look around the lower leagues and see the clubs that have changed ownership recently. Walsall, Gillingham, Carlisle are three that immediately spring to mind. With no disrespect to those clubs but you have to think we are a better long term bet than those 3 clubs. Of course the skeletons in the closet and the financial history of the club and the current web of ownership makes a takeover probably much more difficult than other clubs. There has been interest in the club from various parties, I know absolutely no details but there have been and continues to be interest. If you take away the absolute shit within the club we are an exciting prospect, of that I have no doubt.

The difference in two of the three (I believe) is that Carlisle and Gills were actually put up for sale? Not sure about Walsall.

STFC are not for sale (actively apparently) and Clem will want to see a return, I don't think the people selling those two clubs got an great return?

[The Million Pound Man]

I might be making this up but I think that it was mentioned in the bullshit junket last week that it was Curran that called in the debentures, not Power.  I think it might have been in Sam's interview, either that or Hawes.

Thanks, i missed that. In any case i would of thought there should be some sort of paper trail?

https://www.theinsolvencyexperts.co.uk/blog/pros-and-cons-of-company-debentures/

You and the lender sign a debenture. This will detail the specifics of the loan, such as:

The amount
The term length
The interest amount
The fact that the loan is secured against your business’ original premises.


There has to be pre-defined terms? LP/AC/ any other wide boy cant just roll up with a shotgun one day and say pay up now or else?

[Berniman]

Thanks, i missed that. In any case i would of thought there should be some sort of paper trail?

https://www.theinsolvencyexperts.co.uk/blog/pros-and-cons-of-company-debentures/

You and the lender sign a debenture. This will detail the specifics of the loan, such as:

The amount
The term length
The interest amount
The fact that the loan is secured against your business’ original premises.


There has to be pre-defined terms? LP/AC/ any other wide boy cant just roll up with a shotgun one day and say pay up now or else?

Well according to Clemente, he had 3 days to find the money or go into liquidation, so he did what he did to benefit us fans..  You're Welcome..