Court Case

[Jimmy HaveHave]

No, and nor should he.  He chooses to be "sole owner" and the situation (covid notwithstanding) is of his own making.

Yep totally agree he's brought all on himself and if he gets desperate maybe he could ask his mate Tim for some help

[Flashheart]

He's bought it all upon himself, except for the global pandemic which is the reason the club suddenly has next to zero income and is causing a real threat to the very existence of clubs all over the country.

Don't get me wrong. I'm not defending power and I'll be glad to see the back of him (depending on who replaces him), but people seem to be very eager to overlook the rather extreme circumstances that have us in this position.

[Batch]

Whether I actually believe his story of the minted Yanks waiting in the wings, is another matter.

Who knows with Power. Still think he's a 'sell his own granny' type, which certainly keeps the lights on, but does have a tendency to catch up with you.

if Clem or a.n.other wanted to buy the club, the length of the court case and mystery Americans is a way to drive the price up/flush people out.

hard to see anyone wanting to buy just now, though a distressed asset can be a bargain

[JBZ]

I suspect that a div 3/div 4 club like STFC is likely to attract a certain 'type' of purchaser.  Any supporters waiting for someone of particular substance are likely to be disappointed.

[horlock07]

Who knows with Power. Still think he's a 'sell his own granny' type,

Standing will be wanting 50% of the proceeds of that as well!

[Crackity Jones]

He's bought it all upon himself, except for the global pandemic which is the reason the club suddenly has next to zero income and is causing a real threat to the very existence of clubs all over the country.

Don't get me wrong. I'm not defending power and I'll be glad to see the back of him (depending on who replaces him), but people seem to be very eager to overlook the rather extreme circumstances that have us in this position.

which is why I said "covid notwithstanding" in my post. The legal issues around ownership surfaced as soon as Power  wanted out.  They became public in the May 2020 court cases and would have been going on long before that.

[Flashheart]

I think it's easy to see how a rich investor would look at the club and see the potential in getting us to the Championship (or, perhaps more pertinently, the financial rewards that will come with it).

Whether we do get that type, or the other type, remains to be seen.

[JBZ]

The standing and axis cases were issued in 2019 I think. The claim number will confirm. The 'dispute' will have started before the claims were issued.

[horlock07]

I suspect that a div 3/div 4 club like STFC is likely to attract a certain 'type' of purchaser.  Any supporters waiting for someone of particular substance is likely to be disappointed.

I've never really understood why we have been able to attract purchasers in the past, we own nothing of any value (I know some argue the DRS but that's basically scrap metal prices), in the past we potentially had the income from on sales like Bogle, Ritchie etc, but I am not aware of any of those still knocking about, the good will has basically gone.

As noted previously Power has done well keeping plates spinning for so long and would possible have got his payday if COVID hadn't struck, instead chickens have come home to roost, he has no cash left, people want their cash back, his dealings are all over the public domain via the courts, he cannot sell anything without others say so.

He can cough and splutter as much as he likes but as it stands he potentially owns 35% of sod all and there is a queue in front of him of people who will have first dibs at the pot, if the sale is £7.5m (not a chance that I can see!) Standing wants about £5m back in lieu of loans etc, if Power only has 35% of the shares as suspected that gives him about £900k, hardly worth the ballache, much easier ways to make money. Standing/Clem should offer him 1m to sod off and shut the door.

[Tails]

Do we think 'the Americans' really exist? Frustrating that we potentially could have been sold after promotion but essentially ruined by Powers inability to do things properly.... if it's true...

[JBZ]

Every supporter of a struggling lower league club will say that it has the potential to get to the second tier etc.  Plainly, there is a divergence of opinion between the supporters of STFC and those in the market for a club.

[Flashheart]

Do we think 'the Americans' really exist?

I think so.

[JBZ]

Do we think 'the Americans' really exist? Frustrating that we potentially could have been sold after promotion but essentially ruined by Powers inability to do things properly.... if it's true...

In the Standing litigation, some doubt was cast on this.

The entity may exist but there were questions around the offer itself.

[Bob's Orange]

In the Standing litigation, some doubt was cast on this.

The entity may exist but there were questions around the offer itself.

wasn't the proof of the offer flaky as hell? Some badly crafted document which looked like it had been created by some children playing around with Word?

[horlock07]

The standing and axis cases were issued in 2019 I think. The claim number will confirm. The 'dispute' will have started before the claims were issued.

All kicked off summer/Autumn 2019, firstly due to shenanigans over the Ritchie sell on clause and then  the sale of shares to Clem and finally all the Able stuff which seems to have been the straw which broke the camels back. The injunction was 22nd November 2019 (see Para 20 in below, the 2020 date must be a typo).

https://www.casemine.com/judgement/uk/5ec564d82c94e079ae125566