Can The Club Volunteer An Answer

[Frigby Daser]

go on,someone type it up.

[Power to people]

Well it actually looks as though the questions asked in that editorial might just have done the trick and provoked today's bonkers statement. Along with the earlier Nick Martin article of course.

Hallelujah! The bullet hole in the STFC corporate shoe is well and truly smoking.

I'd agree actually, sad that this was not posted tomorrow on our annual Statement Friday

[Ardiles]

Cut & paste from the Adver forum...

The Club is disappointed to read Councillor Martin's negative comments in the Swindon Advertiser recently.
Just two weeks ago representatives of the Club met with officials from the Council's Finance Department to discuss the position with the CVA. At that meeting the Club clearly outlined the CVA Supervisor's rights and obligations to vary the schedule of payments.
It should be remembered that when the CVA was agreed 5 years ago, the Board of STFC and St Modwen committed £3.5m without which the Club would have ceased to exist.To assist the Club re-structure its debts, by supporting the CVA, the creditors generously voted away their rights to full payment. Swindon Borough Council was one of those creditors.
Under the terms of the CVA creditors are entitled to a distribution of around £98,000. The CVA document also scheduled a payment of £900,000 from the Club this summer. However, this assumed that a successful redevelopment of The County Ground during this time period would have generated sufficient funds to settle the final CVA instalment.
Despite the strenuous efforts by the Club, the redevelopment of The County Ground has not progressed as hoped. Swindon Borough Council must realise that they have a major influence on this and must surely recognise the effect this has on the Club's finances and therefore its resultant ability to make the final payment as originally scheduled.
When the current Board assumed responsibility for the Club in 2002, finances were in a perilous state and for the last 5 years the Wills family and their management team have continued to support for the Club financially, without which it is unlikely the Club would have survived today.
Swindon Borough Council must have a degree of empathy with the Club's position having been, in the past, categorised as a 'Failing Authority' and for sometime were in 'Intensive Care'. Thankfully under the guidance of Rod Bluh and Gavin Jones are the Borough are now on the road to financial recovery.
Recently there have been several positive meetings with the Council and Club along with its development partners St Modwen. The objective of these meetings has been to establish a framework and a mutually beneficial way forward for the Club's future development. Given the cordial and constructive nature of those discussions the Club are confused by Councillor Martin comments.
Last year, members of Swindon Borough Council were invited to Reading FC to see first hand the impact the development of a football stadium had on both the town and the Club.
The Board of STFC recognise that co-operation with the Borough Council is paramount and that the Club and the Council must work together to integrate the development of a football stadium and other sports facilities with the Council'soverall regeneration vision for Swindon.
Councillor Martin's comments are not helpful in this regard but the Club remains confident that under Rod Bluh's leadership, the Council will work with the Club to resolve any differences that may exist and produce a satisfactory solution to The County Ground redevelopment.

[Frigby Daser]

Cut & paste from the Adver forum...

The Club is disappointed to read Councillor Martin's negative comments in the Swindon Advertiser recently.
Just two weeks ago representatives of the Club met with officials from the Council's Finance Department to discuss the position with the CVA. At that meeting the Club clearly outlined the CVA Supervisor's rights and obligations to vary the schedule of payments.
It should be remembered that when the CVA was agreed 5 years ago, the Board of STFC and St Modwen committed £3.5m without which the Club would have ceased to exist.To assist the Club re-structure its debts, by supporting the CVA, the creditors generously voted away their rights to full payment. Swindon Borough Council was one of those creditors.
Under the terms of the CVA creditors are entitled to a distribution of around £98,000. The CVA document also scheduled a payment of £900,000 from the Club this summer. However, this assumed that a successful redevelopment of The County Ground during this time period would have generated sufficient funds to settle the final CVA instalment.
Despite the strenuous efforts by the Club, the redevelopment of The County Ground has not progressed as hoped. Swindon Borough Council must realise that they have a major influence on this and must surely recognise the effect this has on the Club's finances and therefore its resultant ability to make the final payment as originally scheduled.
When the current Board assumed responsibility for the Club in 2002, finances were in a perilous state and for the last 5 years the Wills family and their management team have continued to support for the Club financially, without which it is unlikely the Club would have survived today.
Swindon Borough Council must have a degree of empathy with the Club's position having been, in the past, categorised as a 'Failing Authority' and for sometime were in 'Intensive Care'. Thankfully under the guidance of Rod Bluh and Gavin Jones are the Borough are now on the road to financial recovery.
Recently there have been several positive meetings with the Council and Club along with its development partners St Modwen. The objective of these meetings has been to establish a framework and a mutually beneficial way forward for the Club's future development. Given the cordial and constructive nature of those discussions the Club are confused by Councillor Martin comments.
Last year, members of Swindon Borough Council were invited to Reading FC to see first hand the impact the development of a football stadium had on both the town and the Club.
The Board of STFC recognise that co-operation with the Borough Council is paramount and that the Club and the Council must work together to integrate the development of a football stadium and other sports facilities with the Council'soverall regeneration vision for Swindon.
Councillor Martin's comments are not helpful in this regard but the Club remains confident that under Rod Bluh's leadership, the Council will work with the Club to resolve any differences that may exist and produce a satisfactory solution to The County Ground redevelopment.

Thats the statement, not the Adver editorial you simpleton. I think people in debt should be shot at dawn.

[Ardiles]

Arse.

[Iffy's Onion Bhaji]

they have had it. just sell up now FFS!

[flammableBen]

Can the Club Volunteer An Answer

What have you got planned for Saturday June 30?

A trip to the Millennium Stadium to see Swindon Robins' Leigh Adams compete in speedway's British Grand Prix perhaps?

Or maybe you're thinking of parking in front of the television to watch the middle Saturday of Wimbledon?

If you're a supporter of Swindon Town however, that date is likely to be circled in your diary for a very different reason.

That's the date when a final payment of £900,000 is due, fulfilling the club's obligations under the terms of the Company Voluntary Agreement (CVA) agreed five years ago. Or is it?

Now according to CVA supervisor Andrew Andronikou, who states he has the power to "extend and vary" the deadline as he sees fit.

Which came as news to one of Town's biggest creditors, Swindon Borough Council, who, it seems, are still expecting their payment to be made within the nine days remaining and have had no discussion to the contrary with Andronikou.

As the possible consequences of failure to meet this deadline are an application to have the club wound up, many town fans are, rightly, more than a little worried.

Yet the silence from the club itself about this seemingly precarious situation is deafening.

The Advertiser has repeatedly asked Town officials about the status of the CVA deadline and issues surrounding it.

The stock answer has been that, as the administrator, Mr Andronikou is in the position to know about exactly when and how Town have to meet their obligations.

True enough, but surely not a satisfactory riposte when one of the major creditors insists quite bluntly that they are expecting their money on time, contrary to Mr Andronikou's summary of the position.

Now it could be that those of us not lucky enough to be in the know are panicking unnecessarily.

It could be that this much-heralded 'mystery investor is on the brink of stumping up the cash needed to rid the club of this albatross around its neck.

It could be that Town have this situation under control and have a plan by which to manage or service this ongoing debt anyway. It could be.

But the dearth of information or updates out of SN1 is hardly reassuring.

Where is the reassurance from the club that this financial millstone will be lifted and that Town are not facing a doomsday scenario in a week's time?

Where are the plans from the club hierarchy to explain how they intend to ensure the rosier future for town over the next few years that the supporters crave?

The final demise of Scarborough in the High Court yesterday after 128 years is a stark reminder that no football club, especially one with considerable financial problems, has a divine right existence.

Surely at the very least, fans deserve better than the odd bland statement or lengthy periods of silence.

I typed it so there are probably some mistakes.

[TalkTalk]

Thanks Ben. Good work.

Just an apostrophe missing I think.

[sonic youth]

cheers ben. disappointed you didn't modify it though

[flammableBen]

I thought about it but people seemed to genuinely want to read it.

Where's the missing apostrophe?

[ghanimah]

It could be that this much-heralded 'mystery investor is on the brink of stumping up the cash needed to rid the club of this albatross around its neck.

There's one there, though it doesn't matter as much as missing cash  

[Sussex]

Thanks Ben

[Roddy_Radiation]

Is the Adver's new questioning approach down to the change in staff or actually to do with what happened with Radio Swindon? Now we all know that RS were quite happy to allow the fans to have their say and this must have rankled with the board big time, the decision to give the contract to Brunel FM without even offering it to RS seemed to be the boards attempt to shut this off and if there is one thing that every journalist hates it is somebody attempting to censor the press.

[millom red]

Is the Adver's new questioning approach down to the change in staff or actually to do with what happened with Radio Swindon? Now we all know that RS were quite happy to allow the fans to have their say and this must have rankled with the board big time, the decision to give the contract to Brunel FM without even offering it to RS seemed to be the boards attempt to shut this off and if there is one thing that every journalist hates it is somebody attempting to censor the press.

 :goodpost:
Nail..Head..Hit.....Good shout Roddy.