New beginnings - 25% Truth, 80% Bollocks

[Hyabb17]

Interesting

That was picked up as well. Still some fabrication of the truth.

[RobertT]

Oh - Clem's last statement (not the Angus one, the one with Clem's name on it) said that most of the money had been relaid with only a small shareholding remaining. That seems tough to square with these answers.

There does seem to be a slight Johnsonian tendency to say whatever will make the current problem go away regardless of the long term effect creeping in.

I mean, quite frankly (and before someone jumps, this is not keeping me up at night or depressing me), a couple of the responses given mean one of two things - either Clem is an incompetent fuckwit when it comes to buying a business, or he's feeding complete Bullshit.  Even a basic bit of googling could have given him more then he seemed able to achieve in terms of Due Diligence for example, and he was a fucking shareholder!!

Sorry, it's clear it's not about Fans having their club back and that the Trust are seen as useful idiots to try and keep happy because that pesky Eady Trust tied them together.

Ultimately, that may make no difference - we've not been a fan owned club and we've had some shady fuckers running the joint for as long as I can remember.

[ChalkyWhiteIsGod]

I find this bit quite reassuring

“ An example of this is Friday’s agreement to allow a representative from the Trust Board to review the financial records and accounts of the Club, something which goes above that previously agreed and probably unheard of at other Clubs. ”

So long as it isn’t watered down access.

This.

I just can't shake the feeling we're being shaken down for 'consultation fees' or the likes if we're supposedly losing money still as cost cutting measures are clearly aplenty, yet the gates are good, the ticket prices are high and the club shop is always fucking sold out of everything.

[Quagmire]

Interesting

What am I missing here as I can’t work out what the point is?

[Hyabb17]

What am I missing here as I can’t work out what the point is?

Said a month ago that the money for the shares was almost paid back, tonight this appears not to be the case.

[RobertT]

What am I missing here as I can’t work out what the point is?

Clem said he had got most of the shares back and repaid most of the loan in his follow up grovel statement when exposed as a liar and sending Rob Angus out to hang.  His response now is that he hasn't got any shares back and hadn't repaid most of the debt and doesn't see it as a priority to do so.

[Quagmire]

Ahh, thanks chaps - long day.

[Mooneyraker]

I mean, quite frankly (and before someone jumps, this is not keeping me up at night or depressing me), a couple of the responses given mean one of two things - either Clem is an incompetent fuckwit when it comes to buying a business, or he's feeding complete Bullshit.  Even a basic bit of googling could have given him more then he seemed able to achieve in terms of Due Diligence for example, and he was a fucking shareholder!!

Sorry, it's clear it's not about Fans having their club back and that the Trust are seen as useful idiots to try and keep happy because that pesky Eady Trust tied them together.

Ultimately, that may make no difference - we've not been a fan owned club and we've had some shady fuckers running the joint for as long as I can remember.

This is where the "Standing's frontman" argument comes to the fore IMO.

No one could be this all over the place unless there was obfuscation at play, could they?!

[skiptotheLouMacari]

I'm lost.
Does Michael Standing have money?
If down the line he becomes the owner is it an issue?

[ChalkyWhiteIsGod]

The only way we're looking between half a mill and a mill a year is it if its in consultant fees to a list of Britains most wanted.

I'm really fucked off with all this particularly given how well we're doing on the pitch.

[Mooneyraker]

Can someone who understands this stuff explain how you can buy £2.95m of debentures for £1m and then call the full amount in at zero notice?

[The Artist Formerly Known as Audrey]

Tbh, I can’t make my mind up what’s the worst scenario.

Clem is just incompetent - but even that isn’t reassuring for the long term health of the club

Or

There is someone ‘standing’ in the shadows pulling the strings - until, at least, the court case is sorted.

Why can’t we, just for once, be fucking normal.

[RobertT]

It seriously should not be this hard to keep a story together - as a way of trying to garner some sort of sympathy, I presume, he's brought up the debt when buying the club.  I haven't looked right now, but even the shitty accounts produced by Power would have shown a basket case of a business with a significant amount of debt owed to someone.  The Debenture amounts were on public record, and even existed in those very same Accounts I believe.  I'm still not entirely sure we should jump to the conclusion it was Power who owned the Debentures either - it's opaque, in so far as they provide a subtle hint it was him, but they were registered to the original Debenture Holders as far as I can see by way of official records on Companies House.  I mean, it could be Power, but just fucking say so then, we all hate him, so what possible harm could it do, unless it's BS.

As I said, I'm not losing sleep over this - my life goes on, STFC goes on.  It just seems clear to me we are getting a bunch of fluff, so better to just accept that is how it will be.  The Eady Trust has at least ensured nobody can really fuck with the Ground, the only real asset the club has any rights to.

[RobertT]

I'm lost.
Does Michael Standing have money?
If down the line he becomes the owner is it an issue?

He has some, but he's also in business with Barry - their family links in the business world seem quite entrenched.  I think Standing's wife was a Director of a company that seemed to act solely for the purpose of managing Louie Barry's finances for example.

[Mooneyraker]

I'm lost.
Does Michael Standing have money?
If down the line he becomes the owner is it an issue?

Standing/Barry weren't allowed to be owners of a football club under FA rules. Whilst Standing is now 'no longer involved' in his agency, presumably he'd need to stay in the shadows as to avoid the FA saying he was an STFC shareholder all along...
It's dragged on so fucking long, most of us can barely keep up now. But yes, the orthodoxy does seem to be "Standing bad." Should that still be the case?