New beginnings - 25% Truth, 80% Bollocks

[BenTheRed]

The question I ask is what's in it for them..

Hart /  Kiely - The supplied some sort of service to the club and presumably got paid and i've no issue with that (scouting/moneyball and coaching)

The Austin involvement I don't understand.. what's in it for him? It's not just ego thing is it?  Does he get a car, expenses, and get paid a day rate for services rendered each time he's a match day guest or at the club day to day?  Or does he have skin in the game, money invested somewhere..

[horlock07]

Chris Kiely Racing has one set of micro accounts registered at CH - just him and Mrs. Nothing brilliant there.

Its a pretty small set up.

[Bob's Orange]

Its a pretty small set up.

Is he racing falabellas?

[horlock07]

Is he racing falabellas?

I had to google to see what a falabellas was, now if you had said Shetland Ponies.... 

[The Artist Formerly Known as Audrey]

Its a pretty small set up.

Think he’s been quite successful as an owner. Had one of the best horses in training a couple of years ago. Maybe he made some serious cash there.

https://www.skysports.com/racing/news/12040/12348693/chris-kiely-savouring-the-moment-with-july-cup-hope-rohaan

[Bob's Orange]

I had to google to see what a falabellas was, now if you had said Shetland Ponies.... 

I initially was going to, but wanted to make people on here do a bit of work/research!

[horlock07]

Think he’s been quite successful as an owner. Had one of the best horses in training a couple of years ago. Maybe he made some serious cash there.

https://www.skysports.com/racing/news/12040/12348693/chris-kiely-savouring-the-moment-with-july-cup-hope-rohaan

Rohaan did Ok, although Kiely sold part of him mid career and then they got rid of him 12 months back so no idea how much he made off that, I think in winnings he turned about £200Kish (albeit some with others) which is not to be sniffed at but doesn't explain where a few mils were available in his back pocket to loan to Clem?

[The Artist Formerly Known as Audrey]

I think the bit where he said he’d bought 15-20 horses previously without much success. That doesn’t come cheap - buying them and keeping them in training

[RobertT]

Rohaan did Ok, although Kiely sold part of him mid career and then they got rid of him 12 months back so no idea how much he made off that, I think in winnings he turned about £200Kish (albeit some with others) which is not to be sniffed at but doesn't explain where a few mils were available in his back pocket to loan to Clem?

About a month after the Debenture was paid off, that MPS Data company re-org'd some shares.

Which means nothing, because I can't even see how Chris is linked to that company, but I raise that as showing why the deal that was struck is the important bit, and the bit that is at best opaque right now, and an answer we most likely won't get unless a paper trail appears in time.

[RobertT]

Someone mentioned it being a good thing the Accounts were being prepared - I think that may have actually referenced the fact Seebeck 87 Ltd were overdue and an active action to strike the company off had been filed in August.  Think someone said Clem was bringing them up to date - it's just a funnel through company I believe, nothing will be learned from producing them.

[horlock07]

Someone mentioned it being a good thing the Accounts were being prepared - I think that may have actually referenced the fact Seebeck 87 Ltd were overdue and an active action to strike the company off had been filed in August.  Think someone said Clem was bringing them up to date - it's just a funnel through company I believe, nothing will be learned from producing them.

I've been surprised/amused that the proposal to strike off Seebeck has not been met with greater strife and conspiracy.

I had assumed that as Seebeck was Jed's vehicle to buy the club things may have been reorganised internally and it may have just been being allowed to die a natural death, possibly in relation to the debentures being settled as they were created at the same time, I don't think its accounts have ever shown anything of note anyway?

[RobertT]

Yep, Seebeck was Jed and Swinton was Power, the latter wholly owns the former.  Pointless really, not sure why nobody has tidied them up unless they serve some sort of useful legal distancing.

Accounts for both companies reveal very little, although the share movements provide some insight.

The Debentures were against Swindon Town Football Club Ltd, so still none the wiser why Seebeck is retained.  I would say they completely forgot about it, but they did adjust the Memorandum and Articles of Association for Seebeck around the time  the accounts were due.

[horlock07]

Yep, Seebeck was Jed and Swinton was Power, the latter wholly owns the former.  Pointless really, not sure why nobody has tidied them up unless they serve some sort of useful legal distancing.

Accounts for both companies reveal very little, although the share movements provide some insight.

The Debentures were against Swindon Town Football Club Ltd, so still none the wiser why Seebeck is retained.  I would say they completely forgot about it, but they did adjust the Memorandum and Articles of Association for Seebeck around the time  the accounts were due.

Its always rather bewildered me why Clem seem to use differing accounting firms to do the accounts for each of these companies, but that's a small thing, on that basis one basically dormant company being overlooked is pretty meh really.

[Batch]

I thought Seebeck was the actual vehicle that held the FC's shares.
Swinton own Seebck, therefore the club

Seebeck accounts will show nothing, probably £10 in the bank or something. Normal.

But the implications of Seebeck going pop through strikeoff without tidying the structure properly are ? As in IDK.

Also no idea if legally it offers protection against anything above. Just don't have the knowledge, or time to look at such things.

Anyway, Clem has signed off the Seebeck accounts and it was 'an oversight'. So hopefully all academic anyway.

[joeydubya]

Think Morfuni hinted but here it is:

https://www.swindonadvertiser.co.uk/sport/23788046.swindon-town-faces-possible-fine-efl-investigate-various-matters/