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25% => The Boardroom => Topic started by: Flashheart on Tuesday, April 16, 2013, 19:18:07



Title: Lee Power
Post by: Flashheart on Tuesday, April 16, 2013, 19:18:07
Quote
SPORT: @BBCWiltshire understands #Swindon Town have another new owner. The deal involves former footballer Lee Power. #stfc

Anybody?


Title: Re: Lee Power
Post by: Flashheart on Tuesday, April 16, 2013, 19:22:23
Quote
Sam Morshead ‏@SamMorshead_SA 51s
Reports that #stfc have new owner seem a little confused. The Adver understands Lee Power will be added to the board and contribute funds...


Title: Re: Lee Power
Post by: bathford on Tuesday, April 16, 2013, 19:23:39
BBC saying he is at the game tonight.


Title: Re: Lee Power
Post by: kerry red on Tuesday, April 16, 2013, 19:27:44
Ex-footballer part of a consortium that tried to take over, surprise surprise, Luton.

Into sports publishing.

Was Chairman of Cambridge Utd - left in a huff to take over Rushden and Diamonds (did well there, then).

Seems another jobs for the boys merchant joining the STFC gravy train

All aboard!!!


Title: Re: Lee Power
Post by: bathford on Tuesday, April 16, 2013, 19:28:35
Looks like he has been involved with companies that have gone bust in the past!


Title: Re: Lee Power
Post by: Bob's Orange on Tuesday, April 16, 2013, 19:28:47
Power worked as a football agent, before joining forces with Lenny Drake and setting up the sports publishing company CRE8.
In May 2003, Power was part of a consortium aiming to take over Luton Town. The proposed move was not well received by Luton fans, particularly as it involved sacking the popular manager Joe Kinnear.
He subsequently joined the board at Cambridge United and took over as chairman of the Conference National side in August 2006. In September 2006 he acted as caretaker manager following the dismissal of Cambridge manager Rob Newman and his assistant Tony Spearing.
On the 22 January 2008, on the same night that Cambridge United beat Droylsdon 5–0, Power resigned as chairman of the club, citing personal differences with fellow board members as the chief reason.[1] In April 2008, Power joined the board of Cambridge's Conference rivals Rushden and Diamonds.[2]
Power is also a racehorse owner.[3]
[edit]


Title: Re: Lee Power
Post by: Flashheart on Tuesday, April 16, 2013, 19:32:20
Sam Morshead ‏@SamMorshead_SA 42s
McCrory told the Adver: "He’s definitely not a new owner, he’s contributing towards club and going to be huge part of club going forward."


Title: Re: Lee Power
Post by: SuggWillSugg MBE on Tuesday, April 16, 2013, 19:35:39
Club confirm:

"Swindon Town Football Club can confirm Lee Power is an investor in the club and the 40-year old is at The County Ground tonight #STFC"


Title: Re: Lee Power
Post by: Samdy Gray on Tuesday, April 16, 2013, 19:36:16
First proper confirmation of any investor since Jed & Co took over.


Title: Re: Lee Power
Post by: Bob's Orange on Tuesday, April 16, 2013, 19:37:16
Hmmm. Benefit of doubt but can't help but have a glance at where Luton Town are now in football terms.


Title: Re: Lee Power
Post by: Flashheart on Tuesday, April 16, 2013, 19:37:48
How much wonga does he have?


Title: Re: Lee Power
Post by: kerry red on Tuesday, April 16, 2013, 19:38:55
Hmmm. Benefit of doubt but can't help but have a glance at where Luton Town are now in football terms.

And Cambridge and Rusden/Diamonds.

Ju-ju


Title: Re: Lee Power
Post by: Flashheart on Tuesday, April 16, 2013, 19:39:03
Hmmm. Benefit of doubt but can't help but have a glance at where Luton Town are now in football terms.

Considering he never was actually with Luton, I don't see how that would be relevant.


Title: Re: Lee Power
Post by: theakston2k on Tuesday, April 16, 2013, 19:43:30
http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/8488199/Premier-League-football-teams-lose-millions-on-printers-collapse.html


Title: Re: Lee Power
Post by: sonicyouth on Tuesday, April 16, 2013, 19:46:27
So how does this fit in with them selling up?


Title: Re: Lee Power
Post by: Honkytonk on Tuesday, April 16, 2013, 19:48:07
So how does this fit in with them selling up?

Smoke and Mirrors. He's stuck a fiver in the till and been labelled an owner.


Title: Re: Lee Power
Post by: Flashheart on Tuesday, April 16, 2013, 19:48:18
So how does this fit in with them selling up?

Perhaps that rumour could have been a misunderstanding? Although if this fella becomes the biggest stake holder it could be considered a takeover in a sense.


Title: Re: Lee Power
Post by: kerry red on Tuesday, April 16, 2013, 19:48:44
Swindon Town Football Club

A home for shysters.

Jesus, and I thought things couldn't get much worse we get landed with another fucker


Title: Re: Lee Power
Post by: sonicyouth on Tuesday, April 16, 2013, 19:53:43
Perhaps that rumour could have been a misunderstanding? Although if this fella becomes the biggest stake holder it could be considered a takeover in a sense.
Sam's tweets suggest he will be taking on the football side of things, so that could be interpreted as such.

Nice of the board to tell us these things themselves though, that's the second addition to the board of directors that hasn't even been acknowledged let alone announced by the incumbents.


Title: Re: Lee Power
Post by: Flashheart on Tuesday, April 16, 2013, 19:55:03
Sam's tweets suggest he will be taking on the football side of things, so that could be interpreted as such.

Nice of the board to tell us these things themselves though, that's the second addition to the board of directors that hasn't even been acknowledged let alone announced by the incumbents.

Still waiting to hear from the carbon credits chappy.


Title: Re: Lee Power
Post by: SuggWillSugg MBE on Tuesday, April 16, 2013, 19:55:27
Sam's tweets suggest he will be taking on the football side of things, so that could be interpreted as such.

Nice of the board to tell us these things themselves though, that's the second addition to the board of directors that hasn't even been acknowledged let alone announced by the incumbents.

Sam tweeted that he thought the board/ club wanted to wait for next week before announcing anything just BBC Wilts jumped the gun...

That's the way I read it anyways.


Title: Re: Lee Power
Post by: DV Canio on Tuesday, April 16, 2013, 19:55:35
Any relation to Bill?


Title: Re: Lee Power
Post by: sonicyouth on Tuesday, April 16, 2013, 19:56:13
Still waiting to hear from the carbon credits chappy.
Not to mention Hooper.

The whole thing is starting to worry me more and more if I'm honest


Title: Re: Lee Power
Post by: Honkytonk on Tuesday, April 16, 2013, 19:56:38
Sam's tweets suggest he will be taking on the football side of things, so that could be interpreted as such.

Nice of the board to tell us these things themselves though, that's the second addition to the board of directors that hasn't even been acknowledged let alone announced by the incumbents.

Was said on BBC wilts pre-match that it came from Jed. Perhaps he has decided to deal with BBC Wilts first, then tell the club PR people.


Title: Re: Lee Power
Post by: sonicyouth on Tuesday, April 16, 2013, 19:59:15
Was said on BBC wilts pre-match that it came from Jed. Perhaps he has decided to deal with BBC Wilts first, then tell the club PR people.
Fair enough but I won't be holding my breath for a statement on the OS :)

Anyway, isn't there an old Wiltshire proverb warning against men behind failed printing companies?


Title: Re: Lee Power
Post by: Stegenfreud on Tuesday, April 16, 2013, 20:16:48
 http://www.sportsjournalists.co.uk/other-bodies/football-writers/celtic-and-rangers-ask-fans-for-power-cut-over-magazines/

Interesting read....


Title: Re: Lee Power
Post by: guy66 on Tuesday, April 16, 2013, 20:47:39
Looks like a shark..got a bad gut feeling


Title: Re: Lee Power
Post by: Peter Gibbons on Tuesday, April 16, 2013, 20:52:46
Looks like a shark..got a bad gut feeling

Have you considered pepto-bismol?


Title: Re: Lee Power
Post by: Honkytonk on Tuesday, April 16, 2013, 20:53:44
http://www.youtube.com/watch?v=_FkI69t9eIY


Title: Re: Lee Power
Post by: red sheldon on Tuesday, April 16, 2013, 21:13:45
things going from bad to worse in the boardroom


Title: Re: Lee Power
Post by: manc_red on Tuesday, April 16, 2013, 21:20:43
http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/8488199/Premier-League-football-teams-lose-millions-on-printers-collapse.html

 :suicide:


Title: Re: Lee Power
Post by: Peter Gibbons on Tuesday, April 16, 2013, 21:24:28
http://www.london-gazette.co.uk/place-notice/corp-insolvency-winding-up-court/petitions-companies/Lee-Power (http://sharp-end-training.co.uk/wp-content/uploads/2011/01/Del_Boy_646078a.jpg)

 :cry:


Title: Re: Lee Power
Post by: Reg Smeeton on Tuesday, April 16, 2013, 22:22:16
 Well this is a bit left field, even by our standards.  Reminiscent of Dunwoody Sports Marketing. Looks like Duke's thing isn't happening then... :(

 


Title: Re: Lee Power
Post by: Batch on Tuesday, April 16, 2013, 22:27:04
Hmmm.
Well this is a bit left field, even by our standards.  Reminiscent of Dunwoody Sports Marketing. 

First thing I thought too. :(


Title: Re: Lee Power
Post by: RobertT on Tuesday, April 16, 2013, 22:33:16
Is this the ex-Norwich striker?  if so, he was great in Championship Manager 3, pre dating the name change and year dating systems.  Worked wonders in a front 3 in the good old 3313 formation.


Title: Re: Lee Power
Post by: Reg Smeeton on Tuesday, April 16, 2013, 22:39:06
Is this the ex-Norwich striker?  if so, he was great in Championship Manager 3, pre dating the name change and year dating systems.  Worked wonders in a front 3 in the good old 3313 formation.

That's him....I did wonder if he'd been involved with Cambridge, when they appointed firstly, Claude Le Roy and then Herve Renard as managers....2 fellas usually seen as bosses of impecunious Francophone African Nations sides.

It's just about possible..in which case could show some promise as a football progressive.


Title: Re: Lee Power
Post by: tans on Tuesday, April 16, 2013, 22:46:34
Was said on BBC wilts pre-match that it came from Jed. Perhaps he has decided to deal with BBC Wilts first, then tell the club PR people.

Get the feeling BBC Wilts arent very popular after the Johnson fiasco


Title: Re: Lee Power
Post by: BruceChatwin on Tuesday, April 16, 2013, 22:48:10
Seems as if Jed is mates with every dodgy character in the business, and they're all being offered a place on our board.

I dread to think how bad the histories of the benefactors who want to remain secret are based on the histories of those who are willing to be named.


Title: Re: Lee Power
Post by: tans on Tuesday, April 16, 2013, 22:53:00
At least we havent had a 30 point deduction or expulsion from the league as we were threatened with then eh


Title: Re: Lee Power
Post by: Reg Smeeton on Tuesday, April 16, 2013, 22:53:02
Seems as if Jed is mates with every dodgy character in the business, and they're all being offered a place on our board.

I dread to think how bad the histories of the benefactors who want to remain secret are based on the histories of those who are willing to be named.

I suppose given our history...there's a certain inevitabilty, that we'd end up with a bunch of chancers.


Title: Re: Lee Power
Post by: theakston2k on Tuesday, April 16, 2013, 23:00:13
At least we havent had a 30 point deduction or expulsion from the league as we were threatened with then eh
Where has that come from?


Title: Re: Lee Power
Post by: woolster on Tuesday, April 16, 2013, 23:02:05
At least we havent had a 30 point deduction or expulsion from the league as we were threatened with then eh
is this related to Bristol city :toocool:


Title: Re: Lee Power
Post by: Fred Elliot on Tuesday, April 16, 2013, 23:07:38
things going from bad to worse in the boardroom

Really

Care to elaborate ?


Title: Re: Lee Power
Post by: red sheldon on Tuesday, April 16, 2013, 23:25:01
Really

Care to elaborate ?

Well it appears that we've gone from a pub landlord, to somebody who's company went bust owing large amounts of cash.  In my view that is going from bad to worse


Title: Re: Lee Power
Post by: Spud on Wednesday, April 17, 2013, 00:20:52
And to think that I threw away my Orange hat. :(


Title: Re: Lee Power
Post by: Batch on Wednesday, April 17, 2013, 07:07:17
http://www.thisisswindontownfc.co.uk/news/10359173.Town_s_net_financial_Power_boost/

Quote
“Lee Power is a friend of mine and one of the investors who was in the background. A few of them pulled away due to the Paolo Di Canio incidents and a few other concerns they had around the club[/u],” he told the Advertiser.

“I said right from the beginning we had investors coming through. I’ve asked Lee to come out of the parapets, so to say, and stick his head up and stand beside us and go forward

This quote worries me..Somebody tell me I'm reading too much into it, we have other investors and that Jed isn't making it up as he goes along.


Title: Re: Lee Power
Post by: tans on Wednesday, April 17, 2013, 07:19:49
Where has that come from?

Thats what the FL said if we went into admin a 3rd time. Mcrory told us.


Title: Re: Lee Power
Post by: ghanimah on Wednesday, April 17, 2013, 07:30:08
http://www.thisisswindontownfc.co.uk/news/10359173.Town_s_net_financial_Power_boost/

This quote worries me..Somebody tell me I'm reading too much into it, we have other investors and that Jed isn't making it up as he goes along.

Put it this way, I wouldn't be inclined to buy any plane tickets off Mr McCoy


Title: Re: Lee Power
Post by: Sippo on Wednesday, April 17, 2013, 08:04:08
So Mr Power didn't want to get involved with the club because of Di Canio who was doing so well in the league....hmm.

Once again something just doesn't add up.


Title: Re: Lee Power
Post by: random_five on Wednesday, April 17, 2013, 08:30:39
Roooaaarr...


Title: Re: Lee Power
Post by: Benzel on Wednesday, April 17, 2013, 08:30:48
Sounds more like didnt want to get involved when there was a risk of legal action..


Title: Re: Lee Power
Post by: Nomoreheroes on Wednesday, April 17, 2013, 08:38:02
Sounds more like didnt want to get involved when there was a risk of legal action..
I wouldn't have thought legal action bothered him much . From the kinks posted, it sounds as if he has had lots of experience of legal action being taken against him and at least 13 of his companies.


Title: Re: Lee Power
Post by: Family at War on Wednesday, April 17, 2013, 08:38:55
still is a risk of legal action. PDC is still suing us.


Title: Re: Lee Power
Post by: kerry red on Wednesday, April 17, 2013, 08:43:27
So, have I got this right.

Jed and associated cronies take over the club and somehow pass the fit and proper persons bollocks.

Then, when happily in charge they can then invite any old lag with dodgy business background onto the board who doesn't have to also pass said test.

How anyone (fans) can be happy at the people who are now residing in the boardroom is beyond me.

With the new fella's history of failed businesses where the money disappears and leaves creditors with fuck all, does anyone really think the same will not happen at STFC sometime in the future


Title: Re: Re: Re: Lee Power
Post by: Batch on Wednesday, April 17, 2013, 09:05:13
still is a risk of legal action. PDC is still suing us.
seen this mentioned a couple of times. was this stated on the radio yesterday?


Title: Re: Lee Power
Post by: Flashheart on Wednesday, April 17, 2013, 09:10:01
So Mr Power didn't want to get involved with the club because of Di Canio who was doing so well in the league....hmm.

Once again something just doesn't add up.

Think you got the wrong end of the stick there. Come to think of it, I think you got the wrong stick entirely.


Title: Re: Lee Power
Post by: Bob's Orange on Wednesday, April 17, 2013, 09:13:07
still is a risk of legal action. PDC is still suing us.

Why doesn't he take his stupid fucking green hat and his stupid fucking jacket and his stupid fucking sun glasses and his stupid fucking smug face and fuck off.

He's got his big job at a big Premiership club, where the cameras are going to love him, and the Sunderland people are going to love him and he'll be getting media exposure that he will feel he deserves.

What does the silly fanny need to sue us for? Move on you stupid tit.


Title: Re: Lee Power
Post by: bobby barnes jink on Wednesday, April 17, 2013, 09:21:11
I wouldn't have thought legal action bothered him much . From the kinks posted, it sounds as if he has had lots of experience of legal action being taken against him and at least 13 of his companies.

Great idea.

http://www.youtube.com/watch?v=eEep67akIn4


Title: Re: Lee Power
Post by: tans on Wednesday, April 17, 2013, 09:22:16
seen this mentioned a couple of times. was this stated on the radio yesterday?

Mcrory told us.

Spencer is still trying too.


Title: Re: Lee Power
Post by: tans on Wednesday, April 17, 2013, 09:24:03
So, have I got this right.

Jed and associated cronies take over the club and somehow pass the fit and proper persons bollocks.

Then, when happily in charge they can then invite any old lag with dodgy business background onto the board who doesn't have to also pass said test.

How anyone (fans) can be happy at the people who are now residing in the boardroom is beyond me.

With the new fella's history of failed businesses where the money disappears and leaves creditors with fuck all, does anyone really think the same will not happen at STFC sometime in the future

Of course, not having a club at all is a much better scenario.

I will see what they do in the close season before judging them.


Title: Re: Lee Power
Post by: Sippo on Wednesday, April 17, 2013, 09:24:49
It doesn't make sense for PDC to sue us. Its never been confirmed or denied. He surely will have his mind on sunderland now.


Title: Re: Lee Power
Post by: tans on Wednesday, April 17, 2013, 09:25:39
His contract was so watertight allegedly, it covered everything and anything


Title: Re: Lee Power
Post by: Flashheart on Wednesday, April 17, 2013, 09:26:55
It doesn't make sense for PDC to sue us. Its never been confirmed or denied. He surely will have his mind on sunderland now.

So McCrory was lying to Tans than?


Title: Re: Lee Power
Post by: Sippo on Wednesday, April 17, 2013, 09:28:33
We all know what Tans is like...


Title: Re: Lee Power
Post by: thepeoplesgame on Wednesday, April 17, 2013, 09:32:04
So McCrory was lying to Tans than?

For what it's worth I don't doubt that an agreement has yet to be reached between Di Canio, Spencer and the board, and that the threat of legal action is therefore still hanging over the club.

However, is the idea of a football club chairman lying to supporters really so unbelievable? It happens every day up and down the land, and has certainly happened here many, many times.


Title: Re: Lee Power
Post by: Flashheart on Wednesday, April 17, 2013, 09:34:56

However, is the idea of a football club chairman lying to supporters really so unbelievable? It happens every day up and down the land, and has certainly happened here many, many times.

No, it isn't and I am under no impression that we should take their word for everything.

What I do find hard to believe however is that anybody would make up quite serious allegations that could easily be exposed in a moment by the other party.



Title: Re: Lee Power
Post by: london_red on Wednesday, April 17, 2013, 09:59:26
Why doesn't he take his stupid fucking green hat and his stupid fucking jacket and his stupid fucking sun glasses and his stupid fucking smug face and fuck off.

 :clap:


Title: Re: Lee Power
Post by: Reg Smeeton on Wednesday, April 17, 2013, 10:01:02
 So have I got this right...the Board is currently...Jed, Murrall, Hooper, Rice, Power...then the Holding Company Board has Hall and King?

 Or when Jed says that some didn't fancy it because of issues around the club....have some of these sloped off unnoticed.


Title: Re: Lee Power
Post by: sonicyouth on Wednesday, April 17, 2013, 10:06:19
So have I got this right...the Board is currently...Jed, Murrall, Hooper, Rice, Power...then the Holding Company Board has Hall and King?

 Or when Jed says that some didn't fancy it because of issues around the club....have some of these sloped off unnoticed.
Don't think King is officially involved anywhere but is acting as a consultant or advisor (shudder) to Jed.



Title: Re: Lee Power
Post by: Reg Smeeton on Wednesday, April 17, 2013, 10:09:03
Don't think King is officially involved anywhere but is acting as a consultant or advisor (shudder) to Jed.

I see...hopefully got to be better than Diamandis' Grima Wormtongue  to SSW's Theoden King.


Title: Re: Lee Power
Post by: sonicyouth on Wednesday, April 17, 2013, 10:12:34
I see...hopefully got to be better than Diamandis' Grima Wormtongue  to SSW's Theoden King.
We've even got our own individual with a failed printing business.


Title: Re: Lee Power
Post by: Bob's Orange on Wednesday, April 17, 2013, 10:14:29
Next season our programmes will be printed on single sheets of A4, and will be flogged for £4.


Title: Re: Lee Power
Post by: Reg Smeeton on Wednesday, April 17, 2013, 10:20:41
We've even got our own individual with a failed printing business.

We can soon look forward to one of those terrible sack cloth shirts, that were apparently made by dgi, whoever they are/were.

I've got one with Sabin on the back  :) 


Title: Re: Lee Power
Post by: BruceChatwin on Wednesday, April 17, 2013, 10:21:03
So McCrory was lying to Tans than?

If Jed did say that about PDC still suing, surely it contradicts what he was also saying about Power being one of the investors in the background who was pulling away due to the 'Paolo Di Canio incident' but who's now willing to come forward?

Surely there's a pretty clear implication in that adver article that Powers coming forward was predicated on the threat of Di Canio suing passing?




Title: Re: Lee Power
Post by: Flashheart on Wednesday, April 17, 2013, 10:28:36
If Jed did say that about PDC still suing, surely it contradicts what he was also saying about Power being one of the investors in the background who was pulling away due to the 'Paolo Di Canio incident' but who's now willing to come forward?


Don't think he said anything about Power pulling away.

Quote
“Lee Power is a friend of mine and one of the investors who was in the background. A few of them pulled away due to the Paolo Di Canio incidents and a few other concerns they had around the club[/u],” he told the Advertiser.

Can't see the contradiction myself.


Title: Re: Lee Power
Post by: Bob's Orange on Wednesday, April 17, 2013, 10:31:28
Dare I suggest some sort of board statement now might be a good idea, rather than the current chinese whispers that we seem to be having?

Perhaps he can't say too much about the PDC issue for legal reasons but it would be nice to have clarification.


Title: Re: Lee Power
Post by: Bob's Orange on Wednesday, April 17, 2013, 10:32:00
Although in saying that, last time we had one, they got ripped to bits because of this 1957 debt thing, so perhaps they are wary?


Title: Re: Lee Power
Post by: Arriba on Wednesday, April 17, 2013, 10:36:06
Dodgy as fuck


Title: Re: Lee Power
Post by: LucienSanchez on Wednesday, April 17, 2013, 10:48:01
There doesn't seem to be one credible, successful, reliable businessman amongst the lot of them, and they just keep adding to their number. I don't like the sound of all this.


Title: Re: Lee Power
Post by: Flashheart on Wednesday, April 17, 2013, 10:54:53
There doesn't seem to be one credible, successful, reliable businessman amongst the lot of them, and they just keep adding to their number.

I wish I could disagree!


Title: Re: Lee Power
Post by: TheMajorSTFC on Wednesday, April 17, 2013, 10:56:34
There doesn't seem to be one credible, successful, reliable businessman amongst the lot of them, and they just keep adding to their number. I don't like the sound of all this.

Agree, to say I'm worried would be an understatement!


Title: Re: Lee Power
Post by: Reg Smeeton on Wednesday, April 17, 2013, 11:01:46
There doesn't seem to be one credible, successful, reliable businessman amongst the lot of them, and they just keep adding to their number. I don't like the sound of all this.

Think you need to understand the psychology of the businessman/chancer.

Think for them, the important thing is to have numerous deals going on...most of them will fail, but some might succeed. The laws are stacked up in your favour, so you can generally avoid personal liability, when it goes tits up.

Always on the edge when it comes to paying tax and respecting employment laws. 

Think the reason why SSW, used Diamandis, was because he realised that football was a murky world, and you needed somebody versed in the dark arts to operate in it. Jed is hinting that Power will be this man for us...the previous regime eventually used Spencer.


Title: Re: Lee Power
Post by: BruceChatwin on Wednesday, April 17, 2013, 11:05:45
Don't think he said anything about Power pulling away.

Can't see the contradiction myself.

You don't think there's an implication there in Jed trailing those two sentences one after the other: naming Power as one of the background investors, then saying some of the background investors were pulling away due to concerns about Di Canio but Power was now willing to come forward?

Considering the context in which he has finally come forward (soon after Di Canio takes the Sunderland job), and with what we've been told about the embargo saga supposedly stalling on the concerns of some background investors about putting money in with the threat of Di Canio suing hanging over the club?

Maybe I am just reading too much into it. But if he and his entourage do want to sue I don't understand what's taking them so long.


Title: Re: Lee Power
Post by: ghanimah on Wednesday, April 17, 2013, 11:09:12
Sam:

Quote
Seen bit of confusion regarding Lee Power this morning - he's not yet passed fit and proper person's test and is not yet on the board

https://twitter.com/SamMorshead_SA/status/324464270807015424


Title: Re: Lee Power
Post by: Reg Smeeton on Wednesday, April 17, 2013, 11:46:49
[url width=800 height=519]http://i5.photobucket.com/albums/y154/Reg__Smeeton/power_zpsacaa3a53.jpg[/url]

Not sure this is what we had in mind on that sunny spring day 6 years ago.


Title: Re: Lee Power
Post by: kerry red on Wednesday, April 17, 2013, 12:27:03
Of course, not having a club at all is a much better scenario.

I will see what they do in the close season before judging them.

The problem with the 'wait and see' scenario is it will probably be too late by then we would have been sucked dry.

I realise there is fuck all any of us can do anyway - apart from prepare for it


Title: Re: Lee Power
Post by: DV Canio on Wednesday, April 17, 2013, 12:51:55
Perhaps he can't say too much about the PDC issue for legal reasons but it would be nice to have clarification.

He can allegedly spill it all to tans in the pub though?



Title: Re: Lee Power
Post by: Flashheart on Wednesday, April 17, 2013, 13:26:16
Quote
@aeg1955 original board members all currently remain. Believe Hall is no longer associated with club

 :hmmm:


Title: Re: Lee Power
Post by: TheDukeOfBanbury on Wednesday, April 17, 2013, 13:36:10
Well this is a bit left field, even by our standards.  Reminiscent of Dunwoody Sports Marketing. Looks like Duke's thing isn't happening then... :(

 

Hoping this is not the takeover / selling "bit" referred to. Not exactly mind blowing or reasons to be confident, quite the opposite.
Try and get more.......(w'kend).


Title: Re: Lee Power
Post by: Reg Smeeton on Wednesday, April 17, 2013, 13:38:42
Hoping this is not the takeover / selling "bit" referred to. Not exactly mind blowing or reasons to be confident, quite the opposite.
Try and get more.......(w'kend).

Good man...we need to be as vigilant as possible.


Title: Re: Lee Power
Post by: Samdy Gray on Wednesday, April 17, 2013, 13:41:23
Juddie mentioned on Twitter yesterday that he knows Mr Power quite well.


Title: Re: Lee Power
Post by: Bewster on Wednesday, April 17, 2013, 13:44:44
Hoping this is not the takeover / selling "bit" referred to. Not exactly mind blowing or reasons to be confident, quite the opposite.
Try and get more.......(w'kend).

Can you change your screen name to "secret squirel" ?


Title: Re: Lee Power
Post by: Red Frog on Wednesday, April 17, 2013, 13:47:33
I wish I could disagree!

It must be killing you.  ;)


Title: Re: Lee Power
Post by: mrverve on Wednesday, April 17, 2013, 14:27:59
Jed has to go a long long way to convince me.

I don't trust this current board at all.


Title: Re: Lee Power
Post by: Crispy on Wednesday, April 17, 2013, 14:37:44
Every single member of the board are fucking wrong'uns... how we've fallen.. the club was almost perfect not along ago at all.. Paolo, Fitton, Watkins.. The list goes on!


Title: Re: Lee Power
Post by: RobertT on Wednesday, April 17, 2013, 15:06:57
Jed has to go a long long way to convince me.

I don't trust this current board at all.

Ray Hardman was vilified in the early 90's, he was in charge when we got promoted to the top table.  External competence and wealth need not equal success, and a lack of both does not equal Diamandis.


Title: Re: Lee Power
Post by: Reg Smeeton on Wednesday, April 17, 2013, 15:07:40
I wish I could disagree!

So, if you've come over to the darkside Flashheart, doesn't leave a lot of Board apologists. All of which begs the question, what is to be done about it?


Title: Re: Lee Power
Post by: Flashheart on Wednesday, April 17, 2013, 15:12:18
So, if you've come over to the darkside Flashheart, doesn't leave a lot of Board apologists. All of which begs the question, what is to be done about it?

No Reginald.

While they may well appear to be a shifty looking bunch that does not necessarily mean they have ill intentions. It does not mean we should buy into all the conspiracy theories and unfounded rumour either, at least not until we have something of substance.


Title: Re: Lee Power
Post by: horlock07 on Wednesday, April 17, 2013, 15:25:24
No Reginald.

While they may well appear to be a shifty looking bunch that does not necessarily mean they have ill intentions. It does not mean we should buy into all the conspiracy theories and unfounded rumour either, at least not until we have something of substance.

I agree entirely, there is so much anti-board stuff flying around that is without substance but has become fact that I am tired of it all.

I am still waiting for someone to explain how the new board are planning to fleece us of millions when as it stands the club doesn't earn enough revenue to actually pay its bills each month, doesn't own the ground and has a playing squad where the majority of value are out of contract come the summer?

Now I am no businessman myself, but the only way I could attach ineptitude to them so far is the fact that if they were planning asset stripping and making millions they could have chosen a considerably more attractive proposition than Swindon Town Football Club.


Title: Re: Lee Power
Post by: Flashheart on Wednesday, April 17, 2013, 15:28:19
I agree entirely, there is so much anti-board stuff flying around that is without substance but has become fact that I am tired of it all.

I am still waiting for someone to explain how the new board are planning to fleece us of millions when as it stands the club doesn't earn enough revenue to actually pay its bills each month, doesn't own the ground and has a playing squad where the majority of value are out of contract come the summer?

Now I am no businessman myself, but the only way I could attach ineptitude to them so far is the fact that if they were planning asset stripping and making millions they could have chosen a considerably more attractive proposition than Swindon Town Football Club.

If they are planning on fleecing the club, they are either geniuses with a cunning master plan or a bunch of complete fucking idiots.


Title: Re: Lee Power
Post by: LucienSanchez on Wednesday, April 17, 2013, 15:33:44
I suppose (and I'm not suggesting this is the case) that they could just pocket all incomes, like gate receipts, prize money, TV money, transfer fees, season tickets, then disappear leaving us in administration? That's the only way I can see them milking any money whatsoever out of the club (in the guise of wages and bonuses), but I have no idea if, or even how, that could be possible. Football clubs don't generally make profit, so it's the only scam I can come up with!


Title: Re: Lee Power
Post by: Reg Smeeton on Wednesday, April 17, 2013, 15:34:32
If they are planning on fleecing the club, they are either geniuses with a cunning master plan or a bunch of complete fucking idiots.

Ineptitude is just as dangerous as malign intentions....I don't think SSW had a master plan to screw the club over.


Title: Re: Lee Power
Post by: sonicyouth on Wednesday, April 17, 2013, 15:38:44
Surely the first thing is to find out who exactly the mystery investors are, if they're still around or if they've been scared off and to obtain clarification of the role of Power, whether King is still lurking and why he is involved but not named officially and what happened with Gregory Hall.

Beyond that I'd settle for something vaguely resembling a long term plan from the board beyond holding concerts.


Title: Re: Lee Power
Post by: Reg Smeeton on Wednesday, April 17, 2013, 15:39:16
I suppose (and I'm not suggesting this is the case) that they could just pocket all incomes, like gate receipts, prize money, TV money, transfer fees, season tickets, then disappear leaving us in administration? That's the only way I can see them milking any money whatsoever out of the club (in the guise of wages and bonuses), but I have no idea if, or even how, that could be possible. Football clubs don't generally make profit, so it's the only scam I can come up with!

Don't forget the gig money...


Title: Re: Lee Power
Post by: thepeoplesgame on Wednesday, April 17, 2013, 15:40:06
I am still waiting for someone to explain how the new board are planning to fleece us of millions when as it stands the club doesn't earn enough revenue to actually pay its bills each month

Unless, of course, you don't worry about paying bills…

But you're right, it's all conjecture at this point (although from the links in this thread, it is clear that not paying bills is a route at least one of these gentlemen has gone down before, and it's a route that has almost fucked this club before, so it seems to me those are grounds for legitimate concern).


Title: Re: Lee Power
Post by: horlock07 on Wednesday, April 17, 2013, 15:46:23
I suppose (and I'm not suggesting this is the case) that they could just pocket all incomes, like gate receipts, prize money, TV money, transfer fees, season tickets, then disappear leaving us in administration? That's the only way I can see them milking any money whatsoever out of the club (in the guise of wages and bonuses), but I have no idea if, or even how, that could be possible. Football clubs don't generally make profit, so it's the only scam I can come up with!

Wasn't this the whole point of the infamous bond that they had to place with the FA before it was all agreed, so they could not do this??

I am in no way a board apologist, but equally I would like facts before I light the flaming torch. A lot of the links to Luton do worry, but equally in at least one case didn't he (cant remember which one of the merry band it was) actually bail precisely because the dodgy stuff was happening?


Title: Re: Lee Power
Post by: jayohaitchenn on Wednesday, April 17, 2013, 15:47:13
[url width=350 height=310]http://24.media.tumblr.com/a24c9bab104ad6b4fe6bff522a01ea02/tumblr_ml8d7xlsT21qiip6uo1_400.gif[/url]


Title: Re: Lee Power
Post by: LucienSanchez on Wednesday, April 17, 2013, 15:48:35
Wasn't this the whole point of the infamous bond that they had to place with the FA before it was all agreed, so they could not do this??

Yeah, probably... i was just musing aloud with regards to what the motivations could be, as I get the impression that they're dodgy, but have no idea what they hope to get out of it!


Title: Re: Lee Power
Post by: sonicyouth on Wednesday, April 17, 2013, 15:51:19
Yeah, probably... i was just musing aloud with regards to what the motivations could be, as I get the impression that they're dodgy, but have no idea what they hope to get out of it!
I'm thinking they saw an opportunity to pick up a football club in a good position, bide their time for a bit without spending much and sell it on at a profit.


Title: Re: Lee Power
Post by: Flashheart on Wednesday, April 17, 2013, 15:55:09
I'm thinking they saw an opportunity to pick up a football club in a good position, bide their time for a bit without spending much and sell it on at a profit.

I wouldn't be too averse to that provided they looked after it in the meantime. If that is their plan, it would be in their best interests to look after it as well.


Title: Re: Lee Power
Post by: BruceChatwin on Wednesday, April 17, 2013, 16:02:43
Ironic that our most useful asset here seems to be our lamentable lack of assets.


Title: Re: Lee Power
Post by: horlock07 on Wednesday, April 17, 2013, 16:04:46
Yeah, probably... i was just musing aloud with regards to what the motivations could be, as I get the impression that they're dodgy, but have no idea what they hope to get out of it!

Perhaps building an evil lair under the pitch?

We shall see, they have not really done a great deal yet to judge either way


Title: Re: Lee Power
Post by: horlock07 on Wednesday, April 17, 2013, 16:06:01
I wouldn't be too averse to that provided they looked after it in the meantime. If that is their plan, it would be in their best interests to look after it as well.

This, although as I have suggested before I would expect that Black has put some form of covenant on the sale that means he gets a share if they do sell at a profit within a certain period.


Title: Re: Lee Power
Post by: Flashheart on Wednesday, April 17, 2013, 16:06:05
Ironic that our most useful asset here seems to be our lamentable lack of assets.

Indeed.

They could be planning on doing a Kassam/Ricoh on us, but that would surely come at great financial risk to them?


Title: Re: Lee Power
Post by: Power to people on Wednesday, April 17, 2013, 17:00:54
What I do not understand if PDC & Spencer are still wanting to take the club through the courts why Jed & Co have not said anything about this publically only in the pub to Tans, is there a reason he wont speak publically about it.

But surely also with PDC taking over at sunderland if this made it into the press that he was suing his old club then it wouldnt go down well


Title: Re: Lee Power
Post by: horlock07 on Wednesday, April 17, 2013, 17:02:50
Indeed.

They could be planning on doing a Kassam/Ricoh on us, but that would surely come at great financial risk to them?

Cannot see how they can do that as I can't see them getting their mitts on the ground freehold, there is always the possibility that they could pull the wool over the Councils eyes with some sort of deal but if the Council have got any sense they can control sub-leasing etc via covenants.


Title: Re: Lee Power
Post by: Bob's Orange on Wednesday, April 17, 2013, 17:04:46
Mcrory told us.

Spencer is still trying too.

We should sue Spencer for assisting in bringin in 76 players through a revolving door whilst paying him a pretty penny to bring in and release the vast majority of them.

Useless half-witted buffoon.


Title: Re: Lee Power
Post by: horlock07 on Wednesday, April 17, 2013, 17:09:11
What I do not understand if PDC & Spencer are still wanting to take the club through the courts why Jed & Co have not said anything about this publically only in the pub to Tans, is there a reason he wont speak publically about it.

But surely also with PDC taking over at sunderland if this made it into the press that he was suing his old club then it wouldnt go down well

Comment down the juicer is somewhat lower key than a public pronouncement I suppose?

I am surprised that it didn't make the mainsteam when they were trawling for muck to fling (incidentally it has bought home to me how much the saying about todays news is tomorrows chip paper rings true, two games in and nothing more said!) but we shall see. I was looking back at some stuff earlier and forgotten that Paolo was essentially making announcements about the cub and board in November time which I would suggest were in breach the other way (for instance the suggestion that Brookhouse was standing down which he just dropped in to an interview).

Anyway if Spencer gets the same control there he got here he won't have time to sue he will be spending his new wealth.


Title: Re: Lee Power
Post by: oldtownred on Wednesday, April 17, 2013, 17:25:16
Wasn't there a comment in the recent Daily Mail article from PDC's lawyer, referring to the fact that STFC are considering a counter claim against Sunderland for compensation and it can be settled amicably and Sunderland are now his priority?


Title: Re: Lee Power
Post by: ghanimah on Wednesday, April 17, 2013, 17:31:33
Wasn't there a comment in the recent Daily Mail article from PDC's lawyer, referring to the fact that STFC are considering a counter claim against Sunderland for compensation and it can be settled amicably and Sunderland are now his priority?


Here towards the end

http://www.dailymail.co.uk/sport/football/article-2305127/Dont-fall-Paolo-Di-Canio-youll-end-Bomb-Squad-theres-way-there.html


Title: Re: Lee Power
Post by: Flashheart on Wednesday, April 17, 2013, 17:38:48
Mel Goldberg?

PDC has a Jewish lawyer?


Title: Re: Lee Power
Post by: Honkytonk on Wednesday, April 17, 2013, 18:28:52
Mel Goldberg?

PDC has a Jewish lawyer?

Oy vey.


Title: Re: Lee Power
Post by: fatbasher on Wednesday, April 17, 2013, 19:42:54
What I do not understand if PDC & Spencer are still wanting to take the club through the courts why Jed & Co have not said anything about this publically only in the pub to Tans, is there a reason he wont speak publically about it.

But surely also with PDC taking over at sunderland if this made it into the press that he was suing his old club then it wouldnt go down well

It has been suggested that while Bodin is taking the club to an employment tribunal citing/naming Di Canio, Di Canio cannot persue the club himself.

No legal eagle myself but I'm sure there are others more qualified than myself to confirm/deny that supposition.


Title: Re: Lee Power
Post by: Batch on Wednesday, April 17, 2013, 23:46:06
Sam Morshead ‏@SamMorshead_SA

Jed McCrory tells the Advertiser that Lee Power is set to put £1.5million into Swindon Town in an "equity partnership" #stfc


Title: Re: Lee Power
Post by: Reg Smeeton on Wednesday, April 17, 2013, 23:52:05
Sam Morshead ‏@SamMorshead_SA

Jed McCrory tells the Advertiser that Lee Power is set to put £1.5million into Swindon Town in an "equity partnership" #stfc

Does an "equity partnership" mean we give it straight back to him?


Title: Re: Lee Power
Post by: Batch on Thursday, April 18, 2013, 00:02:34
"Is set to" means he hasn't actually put money in yet. And what the fuck was the Gregory Hall thing all about.

Trying to stay positive, but its all becoming very, very concerning right now.


Title: Re: Lee Power
Post by: snoop on Thursday, April 18, 2013, 03:54:06
Well this is a bit left field, even by our standards.  Reminiscent of Dunwoody Sports Marketing. Looks like Duke's thing isn't happening then... :(

 

Speaking of Dunwoody, it seems Power and Dunwoody are good pals

http://www.thefreelibrary.com/Football%3A+Power+and+the+glory+is+winner+for+Dunwoody.-a079100096 (http://www.thefreelibrary.com/Football%3A+Power+and+the+glory+is+winner+for+Dunwoody.-a079100096)

I think this is my first post on here. AKA mug? on the Adver site.


Title: Re: Lee Power
Post by: snoop on Thursday, April 18, 2013, 04:10:36
Also still seems to be involved with the GG's and publishing, at least in Feb 2012

http://www.sportspromedia.com/notes_and_insights/racing_plus_to_relaunch_ahead_of_its_kempton_race/ (http://www.sportspromedia.com/notes_and_insights/racing_plus_to_relaunch_ahead_of_its_kempton_race/)


Title: Re: Lee Power
Post by: suttonred on Thursday, April 18, 2013, 06:58:23
People need to stop making up their own facts and give them all a chance. Looks like there will be a trust/fans forum. So I for one will wait and see for a bit before lighting the stakes.


Title: Re: Lee Power
Post by: tans on Thursday, April 18, 2013, 07:28:31
People need to stop making up their own facts and give them all a chance. Looks like there will be a trust/fans forum. So I for one will wait and see for a bit before lighting the stakes.

What the cockney said.


Title: Re: Lee Power
Post by: Batch on Thursday, April 18, 2013, 07:32:00
Speaking of Dunwoody, it seems Power and Dunwoody are good pals

I don't think Dunwoody himself had anything (more) to do with Dunwoody Sports marketing by the time it rode into Town. In fact, I think Dunwoody tried legal action to get his name removed from it all.

http://www.questia.com/library/1G1-86175246/dunwoody-saddled-with-name-problem-sports-agenda


Title: Re: Lee Power
Post by: london_red on Thursday, April 18, 2013, 07:32:55
Quote from: Jed McCrory
He’s committed to underwrite a percentage of the ongoing costs which are currently substantial - the previous running costs which are still running.

Whether the budget gets rejigged in the summer or not, this (should?) alleviate some concerns that they are all penniless and using the ST money to cover football expenses and leave us in the shit...


Title: Re: Lee Power
Post by: Red Frog on Thursday, April 18, 2013, 09:55:37
Quote from: Jed McCrory
Quote
He’s committed to underwrite a percentage of the ongoing costs which are currently substantial - the previous running costs which are still running.

So what are these previous running costs which are due to come down? Is it good that we'll be reducing our running costs?


Title: Re: Lee Power
Post by: ronnie21 on Thursday, April 18, 2013, 09:56:15
Does an "equity partnership" mean we give it straight back to him?
If it's a partnership in the true sense, it should mean 50%.  So, is he's putting in 50% equity it means that the current board have put in £1.5 million.  This then means that Power will "own" 50% of the club, which leaves the other four with 12.5% each or however their equity was dibbed up.  He would only need another 1% to become the owner.  Somehow I doubt this to be true, whatever their past they would protect themselves better than that!!


Title: Re: Lee Power
Post by: ronnie21 on Thursday, April 18, 2013, 09:57:41
Quote from: Jed McCrory
So what are these previous running costs which are due to come down? Is it good that we'll be reducing our running costs?
Presumably it was the high cost of the wage packets of the Italian mob and Spencer.  There is no way that KMac and Cooper are on anything like waht PDC was on without adding all his entourage!


Title: Re: Lee Power
Post by: thepeoplesgame on Thursday, April 18, 2013, 09:58:06
Sorry for the repeat post, but I thought it was worth putting in here too:

As reported in the Adver, representatives of the Supporters Trust - as well as the Supporters Club - should be meeting Jed next week.

As I understand it this meeting won't be open to all, but if people have questions they'd like to see asked, they should tweet @TrustSTFC or visit www.truststfc.com and use the 'contact us' tab to drop the Trust a line.

The Trust believes in fan representation and wants to speak for as many Town fans as possible. I'd also encourage people to join (it's only a fiver) as the more fans the Trust represents, the stronger and louder its voice.


Title: Re: Lee Power
Post by: Red Frog on Thursday, April 18, 2013, 09:59:48
Presumably it was the high cost of the wage packets of the Italian mob and Spencer.  There is no way that KMac and Cooper are on anything like waht PDC was on without adding all his entourage!

Then why would they still be ongoing?


Title: Re: Lee Power
Post by: london_red on Thursday, April 18, 2013, 10:25:54
So what are these previous running costs which are due to come down? Is it good that we'll be reducing our running costs?

To be fair he doesn't say anything about costs coming down, that is my speculation. We know however that the club was spending more on wages etc that it was taking in, which Black and then the Ritchie sale was covering. These costs haven't gone away and will for now be met by Power. Unless I'm missing something that is what McCrory has said.


Title: Re: Lee Power
Post by: ronnie21 on Thursday, April 18, 2013, 11:26:32
Then why would they still be ongoing?
Ongoing or short term?  I have no idea but if it is not the previous managment's costs it can only mean that we are going to see a big turn-round in players wages this summer - and a first team primarily made up of youth team players and loanees next season.


Title: Re: Lee Power
Post by: Flashheart on Thursday, April 18, 2013, 11:28:34
Ongoing or short term?  I have no idea but if it is not the previous managment's costs it can only mean that we are going to see a big turn-round in players wages this summer - and a first team primarily made up of youth team players and loanees next season.

Nowhere has anything of the sort been suggested. Asides from unfounded rumour and speculation.


Title: Re: Lee Power
Post by: Reg Smeeton on Thursday, April 18, 2013, 11:40:56
Nowhere has anything of the sort been suggested. Asides from unfounded rumour and speculation.

Doesn't really need to be stated...the whole course that the club has been running since the turn of the year tells us that spending will be coming down.  The only question is by how much....the main cost is wages, assuming that the deals to pay up the likes of Risser, Cibocchi et al have all been settled, so it's axiomatic that you look to natural wastage. Which means players out of contract mostly having to leave, to be replaced by something cheper.


Title: Re: Lee Power
Post by: RobertT on Thursday, April 18, 2013, 11:43:22
Doesn't really need to be stated...the whole course that the club has been running since the turn of the year tells us that spending will be coming down.  The only question is by how much....the main cost is wages, assuming that the deals to pay up the likes of Risser, Cibocchi et al have all been settled, so it's axiomatic that you look to natural wastage. Which means players out of contract mostly having to leave, to be replaced by something cheper.
Or, you no longer budget tp pay PDC and Spencer a combined total of probably over 7 figures a year.


Title: Re: Lee Power
Post by: Reg Smeeton on Thursday, April 18, 2013, 11:48:09
Or, you no longer budget tp pay PDC and Spencer a combined total of probably over 7 figures a year.

Every little helps...but it would be interesting to know what remuneation the magnificent 7 are receiving, for services rendered.


Title: Re: Lee Power
Post by: Flashheart on Thursday, April 18, 2013, 11:52:52
Doesn't really need to be stated...the whole course that the club has been running since the turn of the year tells us that spending will be coming down.  The only question is by how much....the main cost is wages, assuming that the deals to pay up the likes of Risser, Cibocchi et al have all been settled, so it's axiomatic that you look to natural wastage. Which means players out of contract mostly having to leave, to be replaced by something cheper.

If the budget is coming down. Why does it mean that 'it could only mean' a team full of youths and loans?


Title: Re: Lee Power
Post by: Bukkake Regiment on Thursday, April 18, 2013, 11:55:18
He's just fishing.


Title: Re: Lee Power
Post by: Reg Smeeton on Thursday, April 18, 2013, 12:04:52
If the budget is coming down. Why does it mean that 'it could only mean' a team full of youths and loans?


It doesn't (that's Ronnie's take)...we'll have certain obligations, which have to be met, like TAH and Lee Cox, who hopefully will be fit to play, but the general tendency will be towards cost cutting where possible.


Title: Re: Lee Power
Post by: Flashheart on Thursday, April 18, 2013, 12:11:21
It doesn't (that's Ronnie's take)...we'll have certain obligations, which have to be met, like TAH and Lee Cox, who hopefully will be fit to play, but the general tendency will be towards cost cutting where possible.

Well furry muff.

It makes sense to cut down on wastage. Some can be very over dramatic about it all though.


Title: Re: Lee Power
Post by: Red Frog on Thursday, April 18, 2013, 12:11:25
Well the way Jed expressed it clearly seemed to indicate current running costs were higher than he wanted.

Quote
He’s committed to underwrite a percentage of the ongoing costs which are currently substantial - the previous running costs which are still running.

Given that I assume we've lost the salary costs of Ritchie and Dux's mafia, and most or all of Benson and Cox's salaries, and replaced any cost associated with Bostock, Hollands etc with two kids, then I'm not sure how much more he's expecting to cut running costs.

Maybe he meant a continuing provision for legal costs associated with the previous regime, but that's not what he said.


Title: Re: Lee Power
Post by: kerry red on Thursday, April 18, 2013, 12:20:46
Nobody could have been happy with PdC's player wastage rate (except Spencer, of course), so there is nothing wrong with looking to cutting costs/waste.

Whoever is right about what direction the club is going under this new regime it will become apparent soon enough.

The quality and/or number of incoming transfers and the sort of players already on the books who will be shown the door/sold off will be the true test.


Title: Re: Lee Power
Post by: horlock07 on Thursday, April 18, 2013, 12:46:01

 but the general tendency will be towards cost cutting where possible.

Has this actually been stated anywhere?

And should we not be looking at cost cutting as the club is (and has been for god knows how long) failing to wash its face in terms of sustainability? There are a number of ways to potentially do this, reduce ground rent for instance, but to immediately say as fact that it means a team of youth teamers does seem to be scare mongering a little.


Title: Re: Lee Power
Post by: Flashheart on Thursday, April 18, 2013, 12:53:50
Has this actually been stated anywhere?


No, it hasn't.

If anything it's been said that the money available and the budget will remain the same. Jed has said something along the lines of being more realistic in spending (can't find the quote now). That could be open to interpretation, but it has not been said that costs will be cut.


Title: Re: Lee Power
Post by: wiggy on Thursday, April 18, 2013, 12:55:36
I would imagine our biggest cost over the last couple of seasons has been paying off contracts for failed signings, so hopefully next season we will immediately have less of a drain on resources.

I see KMac as a "project" type manager, who needs to be able to build a young team over a couple of seasons. As others have said, Walsall show that you can assemble a competetive team from free signings, loans and youngsters in the lower leagues.



Title: Re: Lee Power
Post by: horlock07 on Thursday, April 18, 2013, 13:03:32
I would imagine our biggest cost over the last couple of seasons has been paying off contracts for failed signings, so hopefully next season we will immediately have less of a drain on resources.


And paying the Agent who made those signings an Agent's fee?

What with that and the management salaries that would be a great saving, whilst I accept that PdC's salaries etc have disappeared what about Spencer, wasn't he on some sort of retainer so unless he resigned that with PdC (why should he) I imagine we have got to pay until it ends or pay some form of severence fee - that quite possibly is why the costs are still too high for now as suggestd by Jedders? - I have no evidnce to support this, but then again thats seems to be the norm with the new lot!


Title: Re: Lee Power
Post by: Reg Smeeton on Thursday, April 18, 2013, 13:40:07
Has this actually been stated anywhere?

And should we not be looking at cost cutting as the club is (and has been for god knows how long) failing to wash its face in terms of sustainability? There are a number of ways to potentially do this, reduce ground rent for instance, but to immediately say as fact that it means a team of youth teamers does seem to be scare mongering a little.

I don't think it needs to be...you don't have to sell your main asset to a competitor, to get you through to the end of the season, to know the current situation is unsustainable...at no point have I said a team full of youth, we still have a nucleus of players contracted for next season, who won't attract other clubs....this will form the nucleus of the side, and then some loans and youth players, pretty much as it is at the moment, but a bit extra.


Title: Re: Lee Power
Post by: WR5 on Thursday, April 18, 2013, 14:13:42
5
 T


Title: Re: Lee Power
Post by: ron dodgers on Thursday, April 18, 2013, 16:44:31
Every little helps...but it would be interesting to know what remuneation the magnificent 7 are receiving, for services rendered.
what would you consider to be an excessive salary?


Title: Re: Lee Power
Post by: Reg Smeeton on Thursday, April 18, 2013, 17:18:42
what would you consider to be an excessive salary?

Anything...outside of some expenses.


Title: Re: Lee Power
Post by: sonicyouth on Thursday, April 18, 2013, 18:57:35
5
 T
good point, well made.


Title: Re: Lee Power
Post by: Peter Gibbons on Thursday, April 18, 2013, 19:11:24
5
 T

Wrong thread >>>>>>>>>> http://thetownend.com/index.php?topic=51289.0


Title: Re: Lee Power
Post by: WR5 on Thursday, April 18, 2013, 19:20:46
For fuck sake I need to stop putting my phone in my pocket without looking the keypad


Title: Re: Lee Power
Post by: JJ876 on Thursday, April 18, 2013, 21:15:58
I'm thinking they saw an opportunity to pick up a football club in a good position, bide their time for a bit without spending much and sell it on at a profit.

I agree I suspect this is the plan. Opportunities to buy a football club for next to nothing at the top of a professional league near the end of a season don't come around very often, Andrew Black's desire for a quick sale helped them achieve this.

On the subject of Lee Power Cre8 Publishing (and it's predecessor Cre8 UK) have upset a lot of football clubs. Apologies if this link had already been posted.

http://www.thedrum.com/news/2011/05/03/cre8-publishing-liquidation-leaving-creditors-including-arsenal-old-firm-owed-more


Title: Re: Lee Power
Post by: Ginginho on Thursday, April 18, 2013, 21:39:16
Wrong thread >>>>>>>>>> http://thetownend.com/index.php?topic=51289.0

:D


Title: Re: Lee Power
Post by: horlock07 on Friday, April 19, 2013, 07:50:54
Anything...outside of some expenses.

So to confirm the clubs owners should pump money into the club and take nothing out, and the executives should work gratis, which means most likely that they are going to have other jobs to feed their families and thus spend little time on the club.

This paranoia that they are fleecing this cash cow of STFC which cost Black £10+m in 4 years baffles me.


Title: Re: Lee Power
Post by: Batch on Friday, April 19, 2013, 09:16:14
This paranoia that they are fleecing this cash cow of STFC which cost Black £10+m in 4 years baffles me.

Presumably you didn't live through the Donnegan/Bletchley era then. They ran a closed shop and were spending without investing. This is probably nothing like that (I hope so!), but once bitten twice as shy.

FWIW : My biggest paranoid thought isn't that they are purposely taking the club to the cleaners. Its that they don't have the cash to keep us from getting into another mess.

In any case I'd hope a meeting between the supporters groups and the board would let Jed set out his stall and give people a better understanding of things - a positive step!


Title: Re: Lee Power
Post by: Reg Smeeton on Friday, April 19, 2013, 10:44:32
So to confirm the clubs owners should pump money into the club and take nothing out, and the executives should work gratis, which means most likely that they are going to have other jobs to feed their families and thus spend little time on the club.

This paranoia that they are fleecing this cash cow of STFC which cost Black £10+m in 4 years baffles me.

I'm a shareholder in STFC, only a few hundred, but if the company made a profit, then I might expect a dividend. Similarly for a major shareholder.  The club should employ a clerk...to do the  bean counting etc. 

Ron Morse did it for years quite successfully without too much fuss.  If, the bean counter happens to be a Board member than so be it...he'll need to be paid. However, I would prefer it if the job was opened up to a proper process of recruitment...rather than being a job for your mates...

There's some interesting stuff recently come out about the eye watering sums, that Directors and CEO's pay themseves in te greed league...so for example Niall Quinn took 2.4 mill from PdC's mob in 2011/12.

I don't suppose this sort of largesse will have escaped the notice of our lot...who probably think it entirely right for them to get their snouts in the albeit much smaller trough.


Title: Re: Lee Power
Post by: Flashheart on Friday, April 19, 2013, 11:06:25
The only feasible scam I can think of is that they could borrow against the club and spend that money for themselves. I really don't think that plan would work for long though as they'd soon have a load of orange hatted town fans asking what the fuck is going on.


Title: Re: Lee Power
Post by: kerry red on Friday, April 19, 2013, 11:41:23
I'm a shareholder in STFC, only a few hundred, but if the company made a profit, then I might expect a dividend. Similarly for a major shareholder.  The club should employ a clerk...to do the  bean counting etc. 

Ron Morse did it for years quite successfully without too much fuss.  If, the bean counter happens to be a Board member than so be it...he'll need to be paid. However, I would prefer it if the job was opened up to a proper process of recruitment...rather than being a job for your mates...

There's some interesting stuff recently come out about the eye watering sums, that Directors and CEO's pay themseves in te greed league...so for example Niall Quinn took 2.4 mill from PdC's mob in 2011/12.

I don't suppose this sort of largesse will have escaped the notice of our lot...who probably think it entirely right for them to get their snouts in the albeit much smaller trough.


So, essentially, you think it matters not who owns the club - human nature will decree their first instinct is to turn a personal profit whether it fucks the club or not.

I don't doubt for a minute that every owner in our history (and any club for that matter) is looking after number one first.

We need a (wealthy) benign dictator


Title: Re: Lee Power
Post by: Reg Smeeton on Friday, April 19, 2013, 11:52:45
So, essentially, you think it matters not who owns the club - human nature will decree their first instinct is to turn a personal profit whether it fucks the club or not.

I don't doubt for a minute that every owner in our history (and any club for that matter) is looking after number one first.

We need a (wealthy) benign dictator

For most of our history, we didn't have an owner, but shareholders, based on the Rochdale Co-Op system. It was until the height of the Thatcherite 80's that the rules were changed, to allow wealthy individuals to put money into the club. The hope being of course, that they would be benign. What lessons from history tell us, is that it ain't necessarily so.



Title: Re: Lee Power
Post by: thepeoplesgame on Friday, April 19, 2013, 11:55:26
The only feasible scam I can think of is that they could borrow against the club and spend that money for themselves. I really don't think that plan would work for long though as they'd soon have a load of orange hatted town fans asking what the fuck is going on.

But if you've pocketed a few quid in the meantime, driven around in a nice car for a bit and had some fun being involved in a Football League club along the way maybe you don't care…

As always, that's pure conjecture, but none of the people who have traceable business histories have a history of long-term business success and could be viewed as being from the make what you can and then wind it up school.

This is why the board needs to be so much more open with the supporters. Hopefully that starts next week…


Title: Re: Lee Power
Post by: horlock07 on Friday, April 19, 2013, 12:35:43
Presumably you didn't live through the Donnegan/Bletchley era then. They ran a closed shop and were spending without investing. This is probably nothing like that (I hope so!), but once bitten twice as shy.

FWIW : My biggest paranoid thought isn't that they are purposely taking the club to the cleaners. Its that they don't have the cash to keep us from getting into another mess.

In any case I'd hope a meeting between the supporters groups and the board would let Jed set out his stall and give people a better understanding of things - a positive step!

No I have lived through the misery of Donegan, Brady, Diamandis etc

I suppose the point I am making is that they have lodged a bond of £1.2m with the FA if (or as many on here think when) it goes tits up. Therefore if they fleece us they will lose this, so the first £1.2m of any scam will essentially be their own money, combine that with our lack of assets, insufficient revenue etc I just don't see where this money is going to come from.

I may be wrong and this is based on sheer speculation on my part, but as I have said before if they are scamming they are either bsuiness geniuses or very misguided.


Title: Re: Lee Power
Post by: horlock07 on Friday, April 19, 2013, 12:37:52
But if you've pocketed a few quid in the meantime, driven around in a nice car for a bit and had some fun being involved in a Football League club along the way maybe you don't care…

As always, that's pure conjecture, but none of the people who have traceable business histories have a history of long-term business success and could be viewed as being from the make what you can and then wind it up school.

This is why the board needs to be so much more open with the supporters. Hopefully that starts next week…

But what assets can they borrow against, we own next to nowt and don't have revenue streams that cover bills even now, unless they engage in some clever borrowing with Wonga I just don't see it happening.


Title: Re: Lee Power
Post by: Batch on Friday, April 19, 2013, 12:45:11
Well we don't actually know where the 1.2M came from, or what it costs. Based on what I have read it seems it was going to be Greogory Hall, but he left so now its either Power or someone else. The bond could have been Powers money, could have been Jed's, or a loan or even bridged from ST money while investment was sought.  Who knows

But the important thing is I think we need to keep an open mind about Jed & co, but that keeping an eye on things is merely prudent.

I didn't feel this way when Fitton and Co took over. Could be because of the relief then from not going down the shitter, but they came in, spelled it out clearly then did what they said. I've not been to impressed by how its gone so far under the new board, though that is clearly only personal opinion.

And FWIW my expectation is not that they keep on going where Black left off. That's wishful thinking. Just that we don't deviate back to the brink of self destruction while maintaining league status.


Title: Re: Lee Power
Post by: thepeoplesgame on Friday, April 19, 2013, 12:57:17
But what assets can they borrow against, we own next to nowt and don't have revenue streams that cover bills even now, unless they engage in some clever borrowing with Wonga I just don't see it happening.

But you don't have to cover the bills if you're not worried about keeping the business going. We've just had well over a million quid come into the club in season ticket sales, so no need to borrow to make money.

I really am not saying this is what is happening, but just because there is no money to be made from Swindon Town FC if it is run honestly, does not mean there is no money to be made from Swindon Town FC full stop.

Some open answers from Mr McCrory next week could do a lot to sooth any such concerns, let's hope he takes the chance.


Title: Re: Lee Power
Post by: dalumpimunki on Friday, April 19, 2013, 13:35:13
I think my concerns with the current board are similar to a few others expressed within this and other treads already, and can be summarised in one word - competence.

The business track record of the board members collectively and individually is hardly sparkling, and any hope that the "shadowy money men" might be bigger guns with more about them has had the legs kicked from underneath it if Lee Power is one of them. His business history makes the rest of them look Bransonesque in comparison. I'm not massively comfortable that my club looks like it's going to be funded at least in part with money extracted from the creditors of one or more of the 13 failed business this fellah has left in his wake.

However, I'll say again, doubts about how competent and effective they might be, an whether they have the resources required to make the level of investment required to really grow the club are one thing, and accusations that they're a bunch of fraudsters out to gut the club and do a runner are another, and I wash people would stop hinting at the latter.

I keep reading forum posts about "paying themselves fat consultancy fees" with nothing to back them up. Other posts suggest that the board are collecting income but not paying bills to build up a cashbox to pay themselves wages and fees, again seemingly plucked out of someone's arse.

All such suggestions basically amount to the same thing, that a group of slightly wide, but perfectly law abiding, as far as I can tell, business people, have entered into a criminal conspiracy to purchase STFC and effectively run it as some sort of "long firm" con. Using the club to collect income which they leech out whilst making purchases on credit, staving off paying bills etc. until the whole thing collapses.

One little point. The long firm con relies on a couple of things:
- A firm with a good reputation that suppliers will give credit to and cut some slack to if bills are a bit overdue
- Nobody noticing the con as it runs

If you were a conman, do you think a football club with a history of financial irregularity, one HMRC investigation, a couple of fraud cases, a court case over ownership, two periods of administration, a recent threatened third administration, annual losses of over £1m, no tangible assets, and a fan base that having been caught out by the Brady/ Doneghan period, and been fucked over by pretty much every board since, now spends its time poring over the track records of anyone that thinks of getting involved with the club, would look like an attractive proposition for that sort of game?

Having touched on the Brady / Doneghan era, it's worth pointing out that not even the chancers that ran the club then came here with the intention of leeching off the club. Those people were more interested in property development, and the clubs role was pretty much as their key to unlock the front garden site.  When Brady worked out it wasn't happening and walked Doneghan took the chance to hang about and see if he could revive it and play at being football club chairman at the same time.

To my mind what we've got in the boardroom now aren't crooks or conmen, they're just not very effective, slightly small time business men, who liked the game and fancied having a go with a bigger club. My hope is that they get lucky, we get promoted via the play-offs and, as a Championship club, we attract someone with a bit more about them, in all senses to take over, or take a prominent role in the clubs affairs.

Fingers crossed.


Title: Re: Lee Power
Post by: Iffy's Onion Bhaji on Friday, April 19, 2013, 15:32:49
I personally feel that the board think they can run the club without having to put their own money in. However if they are to achieve this then the wage bill will have to be reduced dramatically from it's current level. With that in mind we would struggle next season whatever league we are in.

I like the idea of being sustainable without someone else's investment but the business background of this lot does worry me. I'm also concerned that cutting the wage bill isn't going to be easy given that we have plenty of players half way through 2 year deals who aren't exactly going to be earning small wages. They will need to find an investor willing to cover that shortfall or sell.

Judging by the recent Adver article i'm still not convinced Jed has enough investment on board or lined up. I think he has a plan for the club but that plan relies very heavily on who is willing to jump on board and support it.

So basically my thoughts are that in the long run this lot might not be a bad thing but the issue is we might not get to the long run as the short run is going to need a lot of investment to ensure the club keeps going.


Title: Re: Lee Power
Post by: mrverve on Friday, April 19, 2013, 16:10:17
I just hope if the board do cut the playing budget and spend relatively low figures on fees and wages from next season they then also slash the ticket prices and food etc.

Sustainability works both ways.



Title: Re: Lee Power
Post by: Flashheart on Friday, April 19, 2013, 16:14:28
I just hope if the board do cut the playing budget and spend relatively low figures on fees and wages from next season they then also slash the ticket prices and food etc.

Sustainability works both ways.


Not quite sure it works like that!



Title: Re: Lee Power
Post by: RobertT on Friday, April 19, 2013, 16:15:32
Not really, for the past 3 or 4 years an individual has been subsidising the cost of your season ticket.  Sustainability = spending no more than you receive.  I'd actuall expect there to be a bit of an adjustment both ways over the next year if we stay in this league - a bit less on players a bit more on season ticket prices.


Title: Re: Lee Power
Post by: fatbasher on Friday, April 19, 2013, 16:16:18
I personally feel that the board think they can run the club without having to put their own money in. However if they are to achieve this then the wage bill will have to be reduced dramatically from it's current level. With that in mind we would struggle next season whatever league we are in.

I like the idea of being sustainable without someone else's investment but the business background of this lot does worry me. I'm also concerned that cutting the wage bill isn't going to be easy given that we have plenty of players half way through 2 year deals who aren't exactly going to be earning small wages. They will need to find an investor willing to cover that shortfall or sell.

Judging by the recent Adver article i'm still not convinced Jed has enough investment on board or lined up. I think he has a plan for the club but that plan relies very heavily on who is willing to jump on board and support it.

So basically my thoughts are that in the long run this lot might not be a bad thing but the issue is we might not get to the long run as the short run is going to need a lot of investment to ensure the club keeps going.

Your first paragraph echoes what I feel. I have this 'orrible feeling that relegation beckons next season irrespective of what division we end up in. God I'd love to be sssooooooo wrong but that is how I feel.


Title: Re: Lee Power
Post by: ahounsell on Friday, April 19, 2013, 16:18:58
You have to be very naive to think the only way to make money out of the club is if it turns a profit.

The club has been making big losses for years but lots of people have made money during that period. Players, managers and agents for a start. Mike Diamandis didnt do too badly for himself either!

Not saying the new owners are seeking to line their own pockets as I have no reason to believe this is the case. No harm in keeping a close eye on things though.


Title: Re: Lee Power
Post by: Wonder Strike on Friday, April 19, 2013, 16:37:38
The whole thing is getting silly.  Power will probably just vanish like those other dudes.  Then some other random dude's name will leak and repeat all over.


Title: Re: Lee Power
Post by: RobertT on Friday, April 19, 2013, 17:19:20
The whole thing is getting silly.  Power will probably just vanish like those other dudes.  Then some other random dude's name will leak and repeat all over.

Bill & Ted?


Title: Re: Lee Power
Post by: Flashheart on Friday, April 19, 2013, 17:25:45
Excellent!


Title: Re: Lee Power
Post by: steveg on Friday, April 19, 2013, 18:57:34
I would like to see Stratton Bank utilised more next season ie £10/3 a ticket for those not fussed with soft condititions.Who knows 10k everyweek which should be the norm in my mind.


Title: Re: Lee Power
Post by: chalkies_shorts on Friday, April 19, 2013, 19:12:06
You have to be very naive to think the only way to make money out of the club is if it turns a profit.

The club has been making big losses for years but lots of people have made money during that period. Players, managers and agents for a start. Mike Diamandis didnt do too badly for himself either!

Not saying the new owners are seeking to line their own pockets as I have no reason to believe this is the case. No harm in keeping a close eye on things though.
This is my view but I suspect this lot are a bunch of shysters. no real evidence just based on hunches.


Title: Re: Lee Power
Post by: Flashheart on Friday, April 19, 2013, 19:23:14
Nobody is being naive in the slightest because we are trying to dig away at possibilities of how they may be trying to fleece us.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, April 13, 2021, 15:31:08
Resurrected this on the news that Power had joined STFC. People’s opinions at the time.


Title: Re: Lee Power
Post by: horlock07 on Tuesday, April 13, 2021, 15:55:50
Thanks, the conclusions I am drawing are

a) I actually spoke some sense back then;
b) I posted a hell of a lot less before I started working from home;
c) Sadly I think it just reinforces that for one reason  or another we have seen the last of Reg, he would be loving the present situation!


Title: Re: Lee Power
Post by: michael on Tuesday, April 13, 2021, 17:10:33
IF we were to get relegated this season, I make it 4 out of the 9 seasons with Lee Power as owner that we'd have spent in Division 4, and that is more heavily weighted to the back end of his time here. A downwards trend.

His ownership has been a ruddy disaster hasn't it


Title: Re: Lee Power
Post by: Costanza on Tuesday, April 13, 2021, 17:41:36
IF we were to get relegated this season, I make it 4 out of the 9 seasons with Lee Power as owner that we'd have spent in Division 4, and that is more heavily weighted to the back end of his time here. A downwards trend.

His ownership has been a ruddy disaster hasn't it

The lows have been, in Swindon terms, pretty ruddy low but there was early promise.

2013-14: Good - Should have done better
2014-15: Great - Unfortunate final couple of months
2015-16: Average
2016-17: Awful
2017-18: Bad - Stuck in L2
2018-19: Bad - Stuck in L2
2019-20: Great - Promoted
2020-21: The worst


Title: Re: Lee Power
Post by: RedRag on Thursday, April 15, 2021, 14:16:20
Thanks, the conclusions I am drawing are

a) I actually spoke some sense back then;
b) I posted a hell of a lot less before I started working from home;
c) Sadly I think it just reinforces that for one reason  or another we have seen the last of Reg, he would be loving the present situation!
He would indeed.  

We had not a care in the world as we used to mock his predictions of Conference football.



Title: Re: Lee Power
Post by: Robinz on Friday, April 16, 2021, 02:07:04
Bloody hell.............. Surely the FA / FL must see STFC has been played like a fiddle and realise enough is enough.

Good honest hard working football supporting people are openly being screwed over by opportunists who are vetted by the governing bodies of FA/ FL as fit and proper people. 

Surely we must hold the FA /FL responsible for their actions and claim against these organisations for not supplying "Fit for purpose" service to the Swindon community.

COYMRs :badmood:     


Title: Re: Lee Power
Post by: bathford on Friday, April 16, 2021, 11:20:59
I don't know if this has been posted on another thread, if so apologises.

On Twitter National Self Build & Renovation Centre have publicly withdrawn their financial support for the club siting
the way in which the club is being run on and off the field.

OK, it maybe no great financial loss, but it is the principal and the fact that they are prepared to do this publicly.

ً Retweeted
NSBRC
@NSBRC
·
15h
It is with genuine disappointment that we confirm we will not be renewing our sponsorship of #STFC next season. We have expressed our concerns around the lack of vision, communication and transparency. We encourage fans to follow
@TrustSTFC
 and
@STFCSupClub
 This is our club. 🔴
NSBRC


Title: Re: Lee Power
Post by: Ticker45 on Friday, April 16, 2021, 20:33:11
Not sure where to put this taradiddle but here goes.

Just back from pub and had an odd conversation with a communal drinker (no STFC affiliations at all) who had this to regale us with.

Apparently a colleague/friend/workmate was asked to get out to Beversbrook today and paid £200 just in case there was a problem with fans turning up to cause problems. Whether there were any problems the communal drinker did not know.

He also said that same c/f/w/ attended the Rochdale game but was not allowed entry as not being on the official list but was paid £100 to "look after" a Rolls Royce. This Rolls owner often comes up from London on a regular basis and has a Reg. Number on one car of PIG 1 and another of PIG 2, and is rumoured to be putting money into the club for a player in the team.

This could of course could be the 80% bollocks of the forum, but the communal drinker has no real idea what is happening to STFC, has no real interest, and I do not think it is bulls*t, but then again. 

 


Title: Re: Lee Power
Post by: TheDukeOfBanbury on Friday, April 16, 2021, 20:42:13
Not sure where to put this taradiddle but here goes.

Just back from pub and had an odd conversation with a communal drinker (no STFC affiliations at all) who had this to regale us with.

Apparently a colleague/friend/workmate was asked to get out to Beversbrook today and paid £200 just in case there was a problem with fans turning up to cause problems. Whether there were any problems the communal drinker did not know.

He also said that same c/f/w/ attended the Rochdale game but was not allowed entry as not being on the official list but was paid £100 to "look after" a Rolls Royce. This Rolls owner often comes up from London on a regular basis and has a Reg. Number on one car of PIG 1 and another of PIG 2, and is rumoured to be putting money into the club for a player in the team.

This could of course could be the 80% bollocks of the forum, but the communal drinker has no real idea what is happening to STFC, has no real interest, and I do not think it is bulls*t, but then again. 

 

The same vehicle that turned up at Fleetwood and the same people inside.


Title: Re: Lee Power
Post by: otanswell on Saturday, April 17, 2021, 00:04:31
Got to be Curran’s old man surely ?


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Saturday, April 17, 2021, 06:20:43
So what happens if/when Power gets banned from football by the FA? Will that automatically force him out immediately from the club?


Title: Re: Lee Power
Post by: TheDukeOfBanbury on Saturday, April 17, 2021, 08:16:31
Got to be Curran’s old man surely ?

Yep.


Title: Re: Lee Power
Post by: TheDukeOfBanbury on Saturday, April 17, 2021, 08:18:16
So what happens if/when Power gets banned from football by the FA? Will that automatically force him out immediately from the club?

It’s the collateral damage that could already have been made.
I hope he gets his comeuppance for sure.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Saturday, April 17, 2021, 08:25:22
I still can’t see what the attraction is for the Yanks. A lower league club, fractured and pissed off fan base, in need of an input of cash to be competitive.


Title: Re: Lee Power
Post by: Batch on Saturday, April 17, 2021, 08:28:25
Quote from: The Artist Formerly Known as Audrey
I still can’t see what the attraction is for the Yanks. A lower league club, fractured and pissed off fan base, in need of an input of cash to be competitive.

Playing devils advocate, that could be levied at any potential owner.


Title: Re: Lee Power
Post by: JBZ on Saturday, April 17, 2021, 08:39:53
American ownership might be a good thing.  They could bring some
much needed fresh ideas.  I imagine that there might be some push back when proposals come to light regarding a name change.  Swindon Soccer Robins might not go down too well.


Title: Re: Lee Power
Post by: Batch on Saturday, April 17, 2021, 08:43:01
And if there any harm in moving the franchise to Newquay?


Title: Re: Lee Power
Post by: Ginginho on Saturday, April 17, 2021, 08:44:57
Yep.

From what I have found, a guy called Andy Curran?


Title: Re: Lee Power
Post by: Flashheart on Saturday, April 17, 2021, 10:07:26
Playing devils advocate, that could be levied at any potential owner.

Quite.

It's not necessarily that they are interested in STFC per see. It might be that they want to get involved with English football and STFC is a current opportunity to do so. Or it might be something more sinister. We'll just have to wait and see (if they even buy the club).


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Saturday, April 17, 2021, 10:18:22
But the fact they are willing to facilitate Power’s shenanigans is a NO from me.


Title: Re: Lee Power
Post by: DV Canio on Saturday, April 17, 2021, 10:23:15
Got to be Curran’s old man surely ?

Either that or it’s Phineas I. Godwinn.


Title: Re: Lee Power
Post by: Peter Venkman on Saturday, April 17, 2021, 10:44:36
He also said that same c/f/w/ attended the Rochdale game but was not allowed entry as not being on the official list but was paid £100 to "look after" a Rolls Royce. This Rolls owner often comes up from London on a regular basis and has a Reg. Number on one car of PIG 1 and another of PIG 2,
The number plate is PLG1 and its a Mercedes Benz AMG 220.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Saturday, April 17, 2021, 10:53:08
Premier League Giants


Title: Re: Lee Power
Post by: Batch on Saturday, April 17, 2021, 11:23:10
Quote
The number plate is PLG1 and its a Mercedes Benz AMG 220.

Aaah, that's why the MOT history site  couldn't find it (yes its taxed and insured  :) )

Can't find PLG2 though


Title: Re: Lee Power
Post by: Peter Venkman on Saturday, April 17, 2021, 11:31:01
Aaah, that's why the MOT history site  couldn't find it (yes its taxed and insured  :) )

Can't find PLG2 though
Yeah there is no PLG2 or PIG1 or PIG2


Title: Re: Lee Power
Post by: Formerly Drummer Boy on Saturday, April 17, 2021, 12:15:32
I still can’t see what the attraction is for the Yanks. A lower league club, fractured and pissed off fan base, in need of an input of cash to be competitive.

Are you kidding? The opportunity is huge for this club. With the right investment and restoring faith back into the local community, this club could be a top League 1 team pushing into mid-table Championship aspiration.

Renovate the County Ground, opportunity to develop into the beating heart of the Swindon business community with functional facilities offering, facilities to host exhibitions and conferences with a bar/ pub with decent food that locals willcome outside of match days to eat and drink. It's not like there are actually many decent places to go eat or drink in Swindon these days!? Accompany all of that with a hotel and local gym on-site... Really develop the commercial offerings of the club.. Bring the fans back, focus on developing that match day experience..

The opportunity and attraction to grow Swindon Town, rich with history, it's a sleepy tall person waiting to be awoken. We might not be Premier League but Championship is easily obtainable, consolidate, grow the youth development and set a new vision from there. It's not like in the north where you've got 4 or 5 big clubs within walking distance to each other.


Title: Re: Lee Power
Post by: Jimmy Quinn on Saturday, April 17, 2021, 12:21:27
I totally agree the potential is huge if we could only get the right owners to take us forward. The population of Swindon is nearing 225,000 with lots of new families that have moved here and last seasons 13,500 sell out against Exeter on a cold January day after Xmas is proof of what we could get on a regular basis plus more if we had first class facilities.


Title: Re: Lee Power
Post by: jayohaitchenn on Saturday, April 17, 2021, 12:46:50
Championship is easily obtainable

I'll have what he's having


Title: Re: Lee Power
Post by: JBZ on Saturday, April 17, 2021, 12:48:54
I'll have what he's having

I though that but I didn't want to get pelters for suggesting that STFC might not be one of the other 40 or so self proclaimed 'sleeping giants'.


Title: Re: Lee Power
Post by: Dexter Morgan on Saturday, April 17, 2021, 12:49:04
Of course the potential is huge at Swindon, but what makes anyone think that ABLE would even consider  the club in its plans? they are literally JUST a property developer, they are not interested in the football side of things at all they will buy the club, buy the ground with an inflated value to the council with no involvement of the trust.

And then buy out the debenture that is in place for a fee of about £1m (I think was quoted), liquidate the club in so the club cannot continue in the football league or any league, they get kicked out like Bury and they have an area ready to be developed with no football club to interfere with thing and Power gets his little bit extra when this all goes through.

Yeah loads to be excited about!


Title: Re: Lee Power
Post by: Flashheart on Saturday, April 17, 2021, 13:10:59
I though that but I didn't want to get pelters for suggesting that STFC might not be one of the other 40 or so self proclaimed 'sleeping giants'.

That's a strawman. I don't think I've ever seen anybody say that once.


Title: Re: Lee Power
Post by: Flashheart on Saturday, April 17, 2021, 13:11:48
Of course the potential is huge at Swindon, but what makes anyone think that ABLE would even consider  the club in its plans?

You've already answered your own question.


Title: Re: Lee Power
Post by: Dexter Morgan on Saturday, April 17, 2021, 13:21:38
You've already answered your own question.
They are 100% not interested in football potential or fanbase potential they are only interested in the potential sale value of the land and ground


Title: Re: Lee Power
Post by: Legends-Lounge on Saturday, April 17, 2021, 13:22:50
I'll have what he's having

That is unfair. Today it is way out of reach. In a few seasons with the right backing and stewardship very obtainable. Lest you forget we got to the PL. ok that ended badly but it is still possible.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Saturday, April 17, 2021, 13:27:20
They are 100% not interested in football potential or fanbase potential they are only interested in the potential sale value of the land and ground
Why would you think the council would renege on their decision to offer 50% to the Trust?

Personally, I’d love it if someone popped up from nowhere with £1m and progressed the CG purchase with the Trust.


Title: Re: Lee Power
Post by: Flashheart on Saturday, April 17, 2021, 13:28:08
I don't exactly trust able either - but a few people already seem to be coming up with their own 'facts'


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Saturday, April 17, 2021, 13:31:43
It’s easy to see why. They are already tainted by being Power’s favoured exit strategy ergo they’re just as dodgy.


Title: Re: Lee Power
Post by: Flashheart on Saturday, April 17, 2021, 13:32:43
I completely get the mistrust, but still...



Title: Re: Lee Power
Post by: RedRag on Saturday, April 17, 2021, 13:46:48
Able or Clem, I don't see the attraction of investing in STFC itself.  

New ground ideas with spin off activities etc sounds great.  But who would benefit from such spin offs?  The buyers and developers of course.  No way would this ever truly benefit STFC unless the investor was also a philanthropist with some connection to the local area.  In exchange for financing the economic running of a lower league club, the investor seeks a return from property development (eg multi-putpose training pitches, the main ground) and transfer activity profits.  

Nothing is easy.  We'd love a Lansdown or a Madjeski.  Clem might do for us but expect more bumbling at best.  Good enough for me if STFC is well run but with our "potential" we offer sufficient advantages to be a respected L1 club rather than a L1/L2 yoyo club - or worse.


Title: Re: Lee Power
Post by: Peter Venkman on Saturday, April 17, 2021, 15:11:10
Able or Clem, I don't see the attraction of investing in STFC itself.   
This for me too.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Saturday, April 17, 2021, 16:21:18
Very few buy a football club for anything other than vanity or the chance to make a quick buck.

A fair few on here always disputed his on earth Power could make anything out of us. Well, we know now.


Title: Re: Lee Power
Post by: bamboonoclue on Saturday, April 17, 2021, 16:48:31
PLG1

Power
Lee
Geneva

??


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Saturday, April 17, 2021, 16:55:13
PLG - Promoting Lolly Gathering


Title: Re: Lee Power
Post by: The Grim Reaper on Saturday, April 17, 2021, 16:55:49
Hate the term sleeping giant. Only have to look at Bristol City who often get the same label. City spent £45M on stadium redevelopment and many millions more chasing the dream, yet sit midway in The Championship. A reality check may be in order, we can all dream big but as a club it feels every season we fall further down the pyramid on and off the pitch.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Saturday, April 17, 2021, 16:57:17
Last season was great. The fact it was in L2 makes not a bit of difference


Title: Re: Lee Power
Post by: Peter Venkman on Saturday, April 17, 2021, 17:04:41
Sleeping giants=napping midget.


Title: Re: Lee Power
Post by: Private Fraser on Monday, April 19, 2021, 17:53:08
Update on court proceedings from Adver guy. So far so good:

https://twitter.com/adver_tseaward/status/1384185654490243076?s=21


Title: Re: Lee Power
Post by: pauld on Monday, April 19, 2021, 18:13:14
Very few buy a football club for anything other than vanity or the chance to make a quick buck.

A fair few on here always disputed his on earth Power could make anything out of us. Well, we know now.
Much like the people who claimed McCrory and Co couldn't be asset strippers because "we haven't got any assets". They still found a way.


Title: Re: Lee Power
Post by: Jimmy Quinn on Monday, April 19, 2021, 18:32:45





It won't be long before these two are sniffing around😀


Title: Re: Lee Power
Post by: RedRag on Monday, April 19, 2021, 18:50:00
Update on court proceedings from Adver guy. So far so good:

https://twitter.com/adver_tseaward/status/1384185654490243076?s=21

"Judge says Town is a car heading for wall with CM/MS and LP with hands on opposite side of steering wheel"

We're in the back seat. :crash:


Title: Re: Lee Power
Post by: RobertT on Monday, April 19, 2021, 18:51:04
"Judge says Town is a car heading for wall with CM/MS and LP with hands on opposite side of steering wheel"

We're in the back seat. :crash:

Nope, we are on the front bumper like a 1990's Red Nose.


Title: Re: Lee Power
Post by: bathford on Monday, April 19, 2021, 19:04:07
Did you know that a swop of his initials give you Pee Lower.


Title: Re: Lee Power
Post by: bamboonoclue on Monday, April 19, 2021, 19:39:51
Nope, we are on the front bumper like a 1990's Red Nose.

And if you look at Lee Power for long enough, he looks like he's morphing into 1990s legendary Kids TV car "BRUM". Which had an episode called "Runaway Ball" IIRC :eek:



Title: Re: Lee Power
Post by: donkey on Monday, April 19, 2021, 19:48:17
And if you look at Lee Power for long enough, he looks like he's morphing into 1990s legendary Kids TV car "BRUM". Which had an episode called "Runaway Ball" IIRC :eek:



How that didn't have a Birmingham accent is beyond me.


Title: Re: Lee Power
Post by: welshred on Monday, April 19, 2021, 19:53:58
So I guess we’ll see how serious Clem really is. Assuming he stumps up the money provided to keep us afloat and meets whatever pathetic demands Power puts in place.

Let’s hope he really wants it, is really serious, and is a little bit minted.


Title: Re: Lee Power
Post by: bamboonoclue on Monday, April 19, 2021, 19:55:02
How that didn't have a Birmingham accent is beyond me.

Indeed the bloody fraud. Probably tried to make out it was from Worcester and was privately educated or something  :D

Which is also why it might turn out that both "BRUM" and the current owner of STFC in situ, probably have much more in common :)


Title: Re: Lee Power
Post by: Red Frog on Monday, April 19, 2021, 20:36:29
Did you know that a swop of his initials give you Pee Lower.

 :clap: My kind of post. How did we not see this before?


Title: Re: Lee Power
Post by: JanAirplaneMan on Monday, April 19, 2021, 21:38:13
The summary of todays court case from the Trust
https://truststfc.tv/court-hearing-update-power-v-standing-axis-football-investment/


Title: Re: Lee Power
Post by: tans on Tuesday, April 20, 2021, 14:03:39
‘ What we do know is that Able paid #STFC a £100k non-refundable deposit for their interest, which Mr Power's legal team claimed went into the running costs of the Club.

The Judge was a bit unsure as to why this had happened.’

Just gets weirder!


Title: Re: Lee Power
Post by: horlock07 on Tuesday, April 20, 2021, 14:10:58
‘ What we do know is that Able paid #STFC a £100k non-refundable deposit for their interest, which Mr Power's legal team claimed went into the running costs of the Club.

The Judge was a bit unsure as to why this had happened.’

Just gets weirder!

I assume that any sale of Able will be dependent on them passing the necessary FL tests etc, which is going to bring things out the woodwork possibly, he suggests hopefully.


Title: Re: Lee Power
Post by: singingiiiffy on Tuesday, April 20, 2021, 15:50:19
rumours that power will be at the ground tonight. interesting


Title: Re: Lee Power
Post by: Jimmy Quinn on Tuesday, April 20, 2021, 15:54:51
Hopefully it's just one last nostalgic look before he f***s off


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, April 20, 2021, 16:02:51
rumours that power will be at the ground tonight. interesting
Hence the ‘heavies’ already parading around the ground.


Title: Re: Lee Power
Post by: Quagmire on Tuesday, April 20, 2021, 16:07:18
Is there actually a protest arranged tonight?


Title: Re: Lee Power
Post by: horlock07 on Tuesday, April 20, 2021, 16:11:06
Is there actually a protest arranged tonight?

I fucking hope so.


Title: Re: Lee Power
Post by: Power to people on Tuesday, April 20, 2021, 16:19:21
rumours that power will be at the ground tonight. interesting

He'd be mad if he turned up surely

I'd love to hear 1 last radio interview with him though, it would probably be comical


Title: Re: Lee Power
Post by: Shrivvy Road on Tuesday, April 20, 2021, 16:29:51
It will not matter. Fans can't get anywhere close to the stadium with fencing and security down there. Will not bean exaggeration to say the closest will,be the CG garden


Title: Re: Lee Power
Post by: Matchworn Shirts on Tuesday, April 20, 2021, 16:31:03
rumours that power will be at the ground tonight. interesting

Are we able to buy programmes from tonights' match? Asking for a friend


Title: Re: Lee Power
Post by: tans on Tuesday, April 20, 2021, 16:31:39
He'd be mad if he turned up surely

I'd love to hear 1 last radio interview with him though, it would probably be comical

Hes at every game anyway.

This wont bother him, if anything, he’s likely to be dancing through the crowd with his entourage giving all the protesters the finger!


Title: Re: Lee Power
Post by: tans on Tuesday, April 20, 2021, 16:34:01
Or shout out the boardroom with a megaphone :Ride On Fatbury's Lovestick:


Title: Re: Lee Power
Post by: Peter Venkman on Tuesday, April 20, 2021, 17:07:10
It will not matter. Fans can't get anywhere close to the stadium with fencing and security down there. Will not bean exaggeration to say the closest will,be the CG garden
Indeed, the security today is very strong with nobody allowed anywhere near the stadium, they have been there since 1pm.


Title: Re: Lee Power
Post by: Legends-Lounge on Tuesday, April 20, 2021, 17:13:50
Hence the ‘heavies’ already parading around the ground.

Have they been told they may have to wait for their financial dues?


Title: Re: Lee Power
Post by: MangoRed on Sunday, April 25, 2021, 19:26:37
another banner outside the county ground


Title: Re: Lee Power
Post by: Panda Paws on Tuesday, April 27, 2021, 19:50:09
National coverage today.

https://www.joe.co.uk/amp/sport/swindon-town-fans-on-the-brink-271083?__twitter_impression=true

Please take a second to like, retweet, amplify in anyway possible.


Title: Re: Lee Power
Post by: singingiiiffy on Tuesday, April 27, 2021, 20:07:32
National coverage today.

https://www.joe.co.uk/amp/sport/swindon-town-fans-on-the-brink-271083?__twitter_impression=true

Please take a second to like, retweet, amplify in anyway possible.

based on the trust twitter post within the article it seems like the trust is asking the fans to speak up and show discontent for the owner. Why haven't they raised their voice and rallied the fans properly. Instead of asking for bedsheet photos they should be asking for numbers to show up for true coverage and effect.

a bed sheet in the tower centre or a rallying cry for a 3/4 figure protest. 


Title: Re: Lee Power
Post by: Panda Paws on Tuesday, April 27, 2021, 20:17:44
based on the trust twitter post within the article it seems like the trust is asking the fans to speak up and show discontent for the owner. Why haven't they raised their voice and rallied the fans properly. Instead of asking for bedsheet photos they should be asking for numbers to show up for true coverage and effect.

a bed sheet in the tower centre or a rallying cry for a 3/4 figure protest. 

All fair comments but right now, with covid restrictions still in place, and the fact that any direct action could lead to minor disturbances, the Trust aren't currently in position to formally organize protests this weekend.

That said, as individuals, if fans mobilize they're entitled to protest in which ever way they see fit.


Title: Re: Lee Power
Post by: bamboonoclue on Tuesday, April 27, 2021, 22:59:15

That said, as individuals, if fans mobilize they're entitled to protest in which ever way they see fit.

And then potentally getting arrested. Leaving the Trust free of culpability or responsibility...  :hmmm:

It seems the fans really need an official voice, more than ever right now, not one that is going to hide behind them.

I understand the difficulties RE: covid but they have an opportunity to win a good bunch of fans backing here with a very good publicity stunt. The drone idea and/a tennis ball machine/launcher are both good ideas that the Trust could arrange with little organisation. Maybe all the tennis balls should just say "Power Out" on them. Or the drone, carrying 1879 Red & White balloons (admittedly I haven't tested this payload) with "Power Out" on them to then be dropped into the stadia on match day.

Or even hire the "Trump" blimp, and get a huge print out of Lausanne Lee's face tied to it, whilst wearing a huge "Power Out" Tee.

Come on, there's tons of stuff that could be done that don't need plaquards and pitchforks. Get creative. Make the cunt look stupid to some degree. Humiliation is better than tanked up/beered up rage/anger any day  :pint:


Title: Re: Lee Power
Post by: Panda Paws on Wednesday, April 28, 2021, 08:10:27
I'm really not sure how you can take umbrage at me saying people have the right to protest in any way they see fit. A grossly unfair accusation that we're in some way hiding behind fans rather than working endlessly as a group of volunteers to represent them.

If fans were at games this would be very different but the current climate and the sheer workload that the Trust is dealing with right now, added to the information we have, led us to a unanimous decision that trying to organize a Trust-backed protest this week wasn't the best option. 

Its fine to disagree with that, but please do so respectfully and don't use your weird issue with me to offend the others on the Trust board who are doing a phenomenal job in their spare time.


Title: Re: Lee Power
Post by: Shrivvy Road on Wednesday, April 28, 2021, 08:13:03
I'm really not sure how you can take umbrage at me saying people have the right to protest in any way they see fit. A grossly unfair accusation that we're in some way hiding behind fans rather than working endlessly as a group of volunteers to represent them.

If fans were at games this would be very different but the current climate and the sheer workload that the Trust is dealing with right now, added to the information we have, led us to a unanimous decision that trying to organize a Trust-backed protest this week.

Its fine to disagree with that, but please do so with respect and don't use your weird issue with me to offend the others on the Trust board who are doing a phenomenal job in their spare time.
Spot on

Not shocked to see another late night weird post on here


Title: Re: Re: Lee Power
Post by: Batch on Wednesday, April 28, 2021, 08:20:38

Its fine to disagree with that, but please do so with respect and don't use your weird issue with me to offend the others on the Trust board who are doing a phenomenal job in their spare time.

I don't think the weird issue is just with you.

Keep up the good work


Title: Re: Lee Power
Post by: singingiiiffy on Wednesday, April 28, 2021, 08:31:45
And then potentally getting arrested. Leaving the Trust free of culpability or responsibility...  :hmmm:

It seems the fans really need an official voice, more than ever right now, not one that is going to hide behind them.

I understand the difficulties RE: covid but they have an opportunity to win a good bunch of fans backing here with a very good publicity stunt. The drone idea and/a tennis ball machine/launcher are both good ideas that the Trust could arrange with little organisation. Maybe all the tennis balls should just say "Power Out" on them. Or the drone, carrying 1879 Red & White balloons (admittedly I haven't tested this payload) with "Power Out" on them to then be dropped into the stadia on match day.

Or even hire the "Trump" blimp, and get a huge print out of Lausanne Lee's face tied to it, whilst wearing a huge "Power Out" Tee.

Come on, there's tons of stuff that could be done that don't need plaquards and pitchforks. Get creative. Make the cunt look stupid to some degree. Humiliation is better than tanked up/beered up rage/anger any day  :pint:

both the tennis balls and drone idea would be illegal and the individuals could face charges. As said I'm very much up for something if organised correctly but obviously the trust wouldn't be able to support illegal acts.

I would say that being a few days before the last game that nothing can be done anyway and power would have safely made it through the season.

I genuinely think that if this was a first time event at another club the rising would have been greater. the fact that this happens to us so often there's a more of an acceptance


Title: Re: Lee Power
Post by: pauld on Wednesday, April 28, 2021, 09:42:33
both the tennis balls and drone idea would be illegal and the individuals could face charges.
Really? Under what law?


Title: Re: Lee Power
Post by: Bob's Orange on Wednesday, April 28, 2021, 09:58:52
Trust membership is up to 1,000. now. Hat's off to them for the movement. Starting to make Power's mocking of it previously look a little foolish.


Title: Re: Lee Power
Post by: Flashheart on Wednesday, April 28, 2021, 10:01:37
I tried to sign up but couldn't - because PayPal can be a bit of an idiot at times.

I know I've been critical of the trust in the past, but this lot seem capable and active.


Title: Re: Lee Power
Post by: 4D on Wednesday, April 28, 2021, 10:03:58
Trust in the trust   :)


Title: Re: Lee Power
Post by: horlock07 on Wednesday, April 28, 2021, 10:21:36
National coverage today.

https://www.joe.co.uk/amp/sport/swindon-town-fans-on-the-brink-271083?__twitter_impression=true

Please take a second to like, retweet, amplify in anyway possible.

Good piece, but eh?

'There is a frustration, Pierce says, that the club appear to be haemorrhaging money, in spite of crowds being unable to attend games.'

As an aside how did this story emerge did the Trust approach them or vice versa, I suppose my point is that Sports Joe is a bit niche, and no disrespect to the Trust but why isn't this sort of thing being reported in the Advertiser and/or the BBC?

Did I miss it, wasn't there talk of a story being published in The Athletic?


Title: Re: Lee Power
Post by: singingiiiffy on Wednesday, April 28, 2021, 10:44:09
Really? Under what law?

Drones- fly within 50 metres of people and/or property that are not under the direct control of the drone user;

Tennis balls- although sounds stupid (especially after an attempt last week) we all know how football fans are treated different and if the ball hit someone on its way over it could be assault or come under public order order act. It would be a far fetched charge but wouldn't be something for the trust to recommend.


Title: Re: Lee Power
Post by: Jimmy Quinn on Wednesday, April 28, 2021, 10:46:06
Hundreds of power out balloons if you could get the wind in the right direction😀


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, April 28, 2021, 11:06:39
We all know which way the wind is blowing from the CG - and it don’t smell too good


Title: Re: Lee Power
Post by: Batch on Wednesday, April 28, 2021, 11:17:53
Hundreds of power out balloons if you could get the wind in the right direction😀
#
99 Red ones


Title: Re: Lee Power
Post by: 4D on Wednesday, April 28, 2021, 11:18:34
Fart spray? Or Flash  :)


Title: Re: Lee Power
Post by: Panda Paws on Wednesday, April 28, 2021, 11:20:18
Good piece, but eh?

'There is a frustration, Pierce says, that the club appear to be haemorrhaging money, in spite of crowds being unable to attend games.'

As an aside how did this story emerge did the Trust approach them or vice versa, I suppose my point is that Sports Joe is a bit niche, and no disrespect to the Trust but why isn't this sort of thing being reported in the Advertiser and/or the BBC?

Did I miss it, wasn't there talk of a story being published in The Athletic?

As the man quoted, that's a slightly strange line from the journo, and jarred when I read it too. Ultimately the point is that we are not any more impacted by the pandemic than any other L1 club, yet here we are.

Re how the article came about... It's a joint effort from everyone at the Trust, and wider, to connect with as many journos as possible. We think there is a piece in the works from The Athletic but the Super League sort of blew up. It's always hard to get national press coverage in what is a tiny issue outside SN1. We've just got to keep trying, and JOE are a great start (perhaps not niche for those, ahem, younger than you or I).



Title: Re: Lee Power
Post by: Jimmy Quinn on Wednesday, April 28, 2021, 11:57:49
#
99 Red ones

 :pint: :pint:


Title: Re: Lee Power
Post by: bamboonoclue on Wednesday, April 28, 2021, 15:57:26
Drones- fly within 50 metres of people and/or property that are not under the direct control of the drone user;

You're correct if a camera is recording data. Basically look where it states anything regarding drones that aren't recording data...it doesn't. Which opens up a number of routes. Always look at what isn't written, rather than what is. This means drones without a camera/not recording or just a GPS tracker are exempt from this as long as the drone is within 500m of the operator. But also certain weighted drones (minus payload) are exempt from much of what is covered in Rule 166&167.

Further because it's not an invasion of privacy or surveillance as isn't recording "personal data" (filming). There's plenty of ways to get around it though because you can take still images of anyone in public in the UK and it's not an illegal act.  Being a photographer this is something I'm generally aware of and usually keep up to date on. The "rules" around drones are still emerging properly - and there are very many different drones, so sometimes the rules can get conflicted/overlapped etc. for some, causing confusion.

~~~

Seems Panda Paws has overreacted or got some form of complex and made my response all about him. I've always been mostly tongue in cheek with you (mostly down to the Panda and Bamboo reference) apart from when you're being a cunt (this is the TEF after all). And I'm the one with the insecurity on here?! Fucking hell mate. Get over yourself.

I was making suggestions that the Trust could easily pull a publicity stunt to add more humiliating pressure on Power, and gave examples of some ideas they could do. Get that fucking Trump blimp ordered.

Whoever said "...another late night post"....it was posted at 11pm you fucking moron. Talk about a relevant bandwagon  :Ride On Fatbury's Lovestick: If some of you lads are going to give me shit, I'll give it back as good as I get.

Does Mr. Chips still post on here btw?


Title: Re: Lee Power
Post by: bamboonoclue on Wednesday, April 28, 2021, 16:03:50
#
99 Red ones

Believe it or not, I nearly added on "with 99 Red Balloons" playing as it approached the stadia.

And Batch, I take "weird issues" with people who jump on the bandwagon to bash me here. That's all. It's like they will always try and seek out the bad parts rather than any good. Well that's with them I guess. Maybe their life would be more full if they focused on some of the good. Following the Town I guess does these negative things.

But you're talking to the TEFs most insecure man here so please, don't take my advice.

Off for a pint. I might post again on here at the ungodly hour of something like 10:59pm or maybe really go nuts and post at 11:09pm. How nawty!

:pint:


Title: Re: Lee Power
Post by: Panda Paws on Wednesday, April 28, 2021, 16:07:42
You're correct if a camera is recording data. Basically look where it states anything regarding drones that aren't recording data...it doesn't. Which opens up a number of routes. Always look at what isn't written, rather than what is. This means drones without a camera/not recording or just a GPS tracker are exempt from this as long as the drone is within 500m of the operator. But also certain weighted drones (minus payload) are exempt from much of what is covered in Rule 166&167.

Further because it's not an invasion of privacy or surveillance as isn't recording "personal data" (filming). There's plenty of ways to get around it though because you can take still images of anyone in public in the UK and it's not an illegal act.  Being a photographer this is something I'm generally aware of and usually keep up to date on. The "rules" around drones are still emerging properly - and there are very many different drones, so sometimes the rules can get conflicted/overlapped etc. for some, causing confusion.

~~~

Seems Panda Paws has overreacted or got some form of complex and made my response all about him. I've always been mostly tongue in cheek with you (mostly down to the Panda and Bamboo reference) apart from when you're being a cunt (this is the TEF after all). And I'm the one with the insecurity on here?! Fucking hell mate. Get over yourself.

I was making suggestions that the Trust could easily pull a publicity stunt to add more humiliating pressure on Power, and gave examples of some ideas they could do. Get that fucking Trump blimp ordered.

Whoever said "...another late night post"....it was posted at 11pm you fucking moron. Talk about a relevant bandwagon  :Ride On Fatbury's Lovestick: If some of you lads are going to give me shit, I'll give it back as good as I get.

Does Mr. Chips still post on here btw?

OK mate, you crack on.

It's fair to say most people can see who's being reasonable and who's not, but I'm always going to defend those on the Trust that do a lot more than you or I to try and save our club.


Title: Re: Lee Power
Post by: Tails on Wednesday, April 28, 2021, 16:08:25
Completely baffled by whatever it is that just happened....


Title: Re: Lee Power
Post by: Quagmire on Wednesday, April 28, 2021, 16:17:10
Completely baffled by whatever it is that just happened....

Bamboo happened, again.


Title: Re: Lee Power
Post by: 4D on Wednesday, April 28, 2021, 16:18:21
Completely baffled by whatever it is that just happened....

I'm not, I don't read the posts  :)


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, April 28, 2021, 16:28:22
Hopefully back on track here. I presume some knowledgable chap on here will know.

Does Clem as a minority shareholder have any say in Power selling to Able for £1? As it would, obviously, be hugely detrimental to him does he get any protection from Power’s antics.

And, are Able willing to buy the club other than for Power’s Pound and/or out of Admin? What’s happened to their offer of £7.5m which was in the Letter Power said didn’t exist.


Title: Re: Lee Power
Post by: horlock07 on Wednesday, April 28, 2021, 16:40:44
Completely baffled by whatever it is that just happened....

Seems to be some sort of passive aggressive Face Off....


Title: Re: Lee Power
Post by: Power to people on Wednesday, April 28, 2021, 16:46:23
Hopefully back on track here. I presume some knowledgable chap on here will know.

Does Clem as a minority shareholder have any say in Power selling to Able for £1? As it would, obviously, be hugely detrimental to him does he get any protection from Power’s antics.

And, are Able willing to buy the club other than for Power’s Pound and/or out of Admin? What’s happened to their offer of £7.5m which was in the Letter Power said didn’t exist.

I assume it's buy the club for £1 but put in £7.5m to pay off the debts, that way surely both Clem & Standing lose out on anything for their shareholding.

Until we know how much debt the club are in surely its not quite clear what powers game is.


Title: Re: Lee Power
Post by: horlock07 on Wednesday, April 28, 2021, 16:50:56
Hopefully back on track here. I presume some knowledgable chap on here will know.

Does Clem as a minority shareholder have any say in Power selling to Able for £1? As it would, obviously, be hugely detrimental to him does he get any protection from Power’s antics.

And, are Able willing to buy the club other than for Power’s Pound and/or out of Admin? What’s happened to their offer of £7.5m which was in the Letter Power said didn’t exist.

I cannot comment in great deal but its way beyond my area of expertise but simply I don't think Clem will have much of a say as he will be greatly outvoted, unless of course Standing can prove his ownership (and this is what I don't understand Powers game is as he has accepted that Barry owns 50% so what is the difference) and come over to the bright side as under that system Power will only control 42.5% or possibly 35% so in either case Standing and Clem could out vote.

On the Admin issue however I can comment in more detail as my then employer went into admin about 9 years back and was pre-packed to the old directors, albeit for bit more than a quid. Coincidentally I was clearing a load of emails the other night and came across the final report the Administrators had to complete and send to creditors which basically justified the process they had followed. In that they had to state and show that they had marketed the business and sought offers on the open market for it (including releasing accounts and financial statements to any interested parties (subject to them signing a NDA obviously) to allow them to form a judgement as to whether it was worth making a bid), in this case as the company had been royally fucked up the only offer received was from the old directors, but this process had to be laid out in writing, including the marketing process followed and the final price paid.

I assume this would have to be similar and thus I don't see how any Administrator can ignore a bid for even say £100 over one for a £1 let alone £7 odd million. Also worth emphasising that the Administrator is supposed to be acting in the interests of the Creditors, but to flip it all on its head if Power is the main Creditor and the deals usually only need x% of creditors to accept Power can basically vote to benefit himself in the long run and fuck the other creditors!


Title: Re: Lee Power
Post by: bamboonoclue on Wednesday, April 28, 2021, 17:07:42
Bamboo happened, again.

Here he is. Bandwagon Quaggy ffs  ::)


Title: Re: Lee Power
Post by: bamboonoclue on Wednesday, April 28, 2021, 17:16:23

It's fair to say most people can see who's being reasonable and who's not, but I'm always going to defend those on the Trust that do a lot more than you or I to try and save our club.


Ok pal.

Ahh see you're twisting it. The Trust has my full support. I was highlighting an issue in isolation (I will save writing it again), which as adults we should be more than capable of doing so. That doesn't mean I throw out all of the good work of the Trust just because there's an area that I feel they could be doing better in. Constructive criticism, I'm sure you've heard of it.

I was being totally reasonable until you decided to interpret the post as some kind of vendetta against you. Nope, that could never be you - that's my good mate FH  :soapy tit wank:

Just because the Trust may be doing some good things, that doesn't mean they can't do more and be even better...surely? That isn't an attack on the Trust as explained above.

I think the bottom line for most of us here and where we'll all likely agree is that the sooner Lausanne Lee has fucked off, the better Town can start to turn the corner and look toward something more positive.


Title: Re: Lee Power
Post by: bamboonoclue on Wednesday, April 28, 2021, 17:17:08
Seems to be some sort of passive aggressive Face Off....

You'll never see one of those in Ice Hockey  ;)


Title: Re: Lee Power
Post by: Nemo on Wednesday, April 28, 2021, 17:19:39
Do you ever wonder why your posts get misinterpreted so often Bamboo? I don't think you're a bad guy but your unwillingness to back down when you've clearly said something you don't really mean makes you look like one more often than not. It's fine to say something daft and apologise, God knows we've all done it  but constantly going on the attack and making it out like people are targeting you does you no credit.


Title: Re: Lee Power
Post by: bamboonoclue on Wednesday, April 28, 2021, 17:27:56
Do you ever wonder why your posts get misinterpreted so often Bamboo? I don't think you're a bad guy but your unwillingness to back down when you've clearly said something you don't really mean makes you look like one more often than not. It's fine to say something daft and apologise, God knows we've all done it  but constantly going on the attack and making it out like people are targeting you does you no credit.

Oh at times genuinely yes, I will realise this and know I have. But nearly every time fella? Come on, that's just people responding to the account name rather than the content and it happens. Regardless of what is written. So of course I will defend it. I could write "you're all genuinely really lovely people" and someone would respond in a negative way. Sometimes, there just isn't any point in posting at all because I know this will happen. The louder voices get heard. Those that tend to agree but know they may get shouted down won't post because of said louder voices. Maybe I speak for some of those silent people (at times).

Anyway, I'm quite conscious of the fact this thread could become sidetracked and I genuinely don't want that. I want it to be a discussion at least loosely linked around Lee Power (as the thread suggests). All I was bloody suggesting was ways the Trust could possibly do more and someone took great offence to it.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, April 28, 2021, 17:29:58
I cannot comment in great deal but its way beyond my area of expertise but simply I don't think Clem will have much of a say as he will be greatly outvoted, unless of course Standing can prove his ownership (and this is what I don't understand Powers game is as he has accepted that Barry owns 50% so what is the difference) and come over to the bright side as under that system Power will only control 42.5% or possibly 35% so in either case Standing and Clem could out vote.

On the Admin issue however I can comment in more detail as my then employer went into admin about 9 years back and was pre-packed to the old directors, albeit for bit more than a quid. Coincidentally I was clearing a load of emails the other night and came across the final report the Administrators had to complete and send to creditors which basically justified the process they had followed. In that they had to state and show that they had marketed the business and sought offers on the open market for it (including releasing accounts and financial statements to any interested parties (subject to them signing a NDA obviously) to allow them to form a judgement as to whether it was worth making a bid), in this case as the company had been royally fucked up the only offer received was from the old directors, but this process had to be laid out in writing, including the marketing process followed and the final price paid.

I assume this would have to be similar and thus I don't see how any Administrator can ignore a bid for even say £100 over one for a £1 let alone £7 odd million. Also worth emphasising that the Administrator is supposed to be acting in the interests of the Creditors, but to flip it all on its head if Power is the main Creditor and the deals usually only need x% of creditors to accept Power can basically vote to benefit himself in the long run and fuck the other creditors!
I did a quick google on the subject of minority shareholders and found this. God knows what it means but I hope it means can’t do something that is detrimental to other shareholders.

https://www.jacksonlees.co.uk/protection-minority-shareholders


Title: Re: Lee Power
Post by: Flashheart on Wednesday, April 28, 2021, 17:43:39
Somebody a few pages back gave the names in a case where the judge decided who a company was sold to - to prevent minor shareholders from being ripped off. So, a court can do so and there is a precedence.

It makes a lot of sense that Power (or any director) should not be allowed to make decisions that cause his shareholders to lose out just so he benefits himself.


Title: Re: Lee Power
Post by: singingiiiffy on Wednesday, April 28, 2021, 17:48:58
Hopefully back on track here. I presume some knowledgable chap on here will know.

Does Clem as a minority shareholder have any say in Power selling to Able for £1? As it would, obviously, be hugely detrimental to him does he get any protection from Power’s antics.

And, are Able willing to buy the club other than for Power’s Pound and/or out of Admin? What’s happened to their offer of £7.5m which was in the Letter Power said didn’t exist.

one would hope that if power did sell for £1 that Clem would get his rightful 15p. All in coppers or 2 silvers would show how petty or not power is.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, April 28, 2021, 18:13:06
Somebody a few pages back gave the names in a case where the judge decided who a company was sold to - to prevent minor shareholders from being ripped off. So, a court can do so and there is a precedence.

It makes a lot of sense that Power (or any director) should not be allowed to make decisions that cause his shareholders to lose out just so he benefits himself.
Thing is, I can see Power hanging on until there is no option but to put the club in admin. There are legalities about trading if not solvent. Just how long will Clem or whoever be willing to fund the club until something gets sorted.


Title: Re: Lee Power
Post by: Flashheart on Wednesday, April 28, 2021, 18:19:40
Thing is, I can see Power hanging on until there is no option but to put the club in admin.

Considering Power has already told the court he wants to put the club into admin, or sell to able, I would not be surprised if that decision can be taken out of his hands.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, April 28, 2021, 18:22:17
I hope so, but he seems an obdurate twat. If others are picking up the tab for running costs there’s not much pressure on him to sort things.

Hopefully, the court can and will force his hand.


Title: Re: Lee Power
Post by: pauld on Thursday, April 29, 2021, 10:15:20
one would hope that if power did sell for £1 that Clem would get his rightful 15p.
:D


Title: Re: Lee Power
Post by: Robinz on Thursday, April 29, 2021, 12:12:46
Interesting comments about the rights of a minority shareholder........

In a previous life I was founding member and Director of a then small software IT company with a 49% shareholding. The company grew to having offices in Auckland Sydney and agencies in Asia and London. As with many fledging companies the fun started and trust honesty and initial ideals went out the window. After a melt down at Board room level legal representatives arrived and that was the beginning of the end for me.
As a then 20% shareholder of a multi Million dollar company I was advised the rights of a minority shareholder is basically f#ck all.
These comments were proven 100% correct.
Yes, you can fight and wriggle as much as you like however, experience has shown just recover as much as you can from a bad situation and move on.
Tricksters like our one will pull everything and everyone down to their level and they don't care who and what they destroy in the process.
 :badmood: :bye:   
       


Title: Re: Lee Power
Post by: bamboonoclue on Thursday, April 29, 2021, 13:20:37
Out of interest RNZ, how did you go from being a 49% Shareholder (I take it just two of you) to a 20% Shareholder? I am assuming you did cash in/sold 29% of your share at some point or am I looking at that with hopeful eyes?


Title: Re: Lee Power
Post by: RobertT on Thursday, April 29, 2021, 14:32:29
Probably the same way Black managed it here, by diluting the minority shareholding.  For the all the positive comments they get, they pretty much stitched up every fan of Swindon who had ever purchased shares in the club.


Title: Re: Lee Power
Post by: Legends-Lounge on Thursday, April 29, 2021, 14:36:08
Probably the same way Black managed it here, by diluting the minority shareholding.  For the all the positive comments they get, they pretty much stitched up every fan of Swindon who had ever purchased shares in the club.

Including me.


Title: Re: Lee Power
Post by: jevs on Thursday, April 29, 2021, 14:37:38
Considering Power has already told the court he wants to put the club into admin, or sell to able, I would not be surprised if that decision can be taken out of his hands.

Apologies if someone has linked this before, but this reads that it could be. God knows how long proceedings could drag on for though;

https://helix-law.co.uk/business-law/shareholder-and-partnership-disputes/?keyword=unfair%20prejudice%20minority%20shareholder&gclid=Cj0KCQjwsqmEBhDiARIsANV8H3aJuILgsicE9FGyXqcD1vp5sd9qS9fpsivokdjw5n70vhB2X27zclwaAgT5EALw_wcB


Title: Re: Lee Power
Post by: Legends-Lounge on Thursday, April 29, 2021, 14:45:28
Out of interest RNZ, how did you go from being a 49% Shareholder (I take it just two of you) to a 20% Shareholder? I am assuming you did cash in/sold 29% of your share at some point or am I looking at that with hopeful eyes?

It sounds to me that as the company grew more capitol was required. Either you borrow it, finance it yourself (keeping the share cap the same) or you issue more shares for the Capitol invested thus diluting the original share cap.


Title: Re: Lee Power
Post by: Pookemon on Friday, April 30, 2021, 00:57:19
Hopefully back on track here. I presume some knowledgable chap on here will know.

Does Clem as a minority shareholder have any say in Power selling to Able for £1? As it would, obviously, be hugely detrimental to him does he get any protection from Power’s antics.

And, are Able willing to buy the club other than for Power’s Pound and/or out of Admin? What’s happened to their offer of £7.5m which was in the Letter Power said didn’t exist.

In the UK, the companies act includes the concept of "Unfair prejudice" which protects the rights of the minority shareholder.   It stops them being screwed in this manner.

CM has offered to buy Power out and take on all creditors in full so the judge will find in favour of him if Power is only willing to offer him 15p!

This is not a concept in NZ or Oz so would not have saved Robinz


Title: Re: Lee Power
Post by: tans on Friday, April 30, 2021, 08:15:44
So its d-day where LP has to give Morfuni documents.

Do we reckon he will or not?


Title: Re: Lee Power
Post by: swindonmaniac on Friday, April 30, 2021, 08:22:47
So its d-day where LP has to give Morfuni documents.

Do we reckon he will or not?
Anyone know What are the likely consequences if he doesn't comply ?.


Title: Re: Lee Power
Post by: Flashheart on Friday, April 30, 2021, 08:34:51
Anyone know What are the likely consequences if he doesn't comply ?.

At the very least, it would surely mean the judge refuses to lift the injunction?


Title: Re: Lee Power
Post by: Legends-Lounge on Friday, April 30, 2021, 08:52:23
At the very least, it would surely mean the judge refuses to lift the injunction?

Contempt of court.


Title: Re: Lee Power
Post by: 4D on Friday, April 30, 2021, 08:56:16
.
https://youtu.be/z_tVlMprhKM


Title: Re: Lee Power
Post by: Crackity Jones on Friday, April 30, 2021, 09:47:50
So its d-day where LP has to give Morfuni documents.

Do we reckon he will or not?
I don't think it's in his interests not to comply.  I imagine he will leave it to 23:59:59 to press send.


Title: Re: Lee Power
Post by: JBZ on Friday, April 30, 2021, 10:07:18
Court orders typically refer to a deadline of 4 pm on a particular day


Title: Re: Lee Power
Post by: Robinz on Friday, April 30, 2021, 10:54:00

Businesses tend to either expand or retrench and for these reasons this creates a feeding ground for moneymen. These sharks rip the guts out of nearly all businesses they get involved with.

That said, what goes around nearly always comes around.

The problems that STFC are experiencing today were started many years ago and possibly the last chance for real stability and success was when Bill Power and Mark Devlin left the club after the Saturday when they crashed their helicopter.

Another chance was when Andrew Fitton seemed a dream come true and with Andrew Blacks investments we were back in the saddle until PDC just pushed every boundry. Great experience but a car crash waiting to happen.

Andrew Black must take lots of responsibility for the present situation and in my opinion is / was the problem as he encouraged the Sharks to take over and rip the guts out of Swindon Town Football Club after he supposedly sold the club for just 1.00 pound   

I just hope all ends well for the club and especially the many thousands of true STFC supporters like me who live locally and around the world. Stay well

 


Title: Re: Lee Power
Post by: Legends-Lounge on Friday, April 30, 2021, 11:15:42
Clearly there is money to be made out of our club, after all we seem to have had a succession of questionable owners in recent years whose words of ‘five year’ plans etc have ended up dying in the embers of another funeral pyre at SN1. I suppose though a number of you will disagree with what I am about to write but it is a forum after all and we’ll not all agree on everything.

My worry is that clearly we have been owned and stewarded by people on the make one way or another and until we do have considerate and wealthy owners ready to invest in as I said the other day both infrastructure and playing staff to get to at least a sustainable championship level (how much that will cost and how long that will take is open to conjecture) we’ll suffer regular bouts of Groundhog Day owner events.

As well meaning as Clem comes across, he is clearly looking at ground development. In other words to make a Buck or five, or millions, who knows? Which brings me to the current situation with Clem, Standing and Barry, again they’re all in it for wonga and lots of it. So for me if it goes tits up spectacularly I’ve only lost a club which has bought me much happiness and much sadness, they will have lost a fuck load of money, which they may or may not be able to afford, well tough shit.

I can always go and support Supermarine and still have live football to follow, they cannot replace their lost money. Not the same I know, but for me a good substitute and when I hand my money over the turnstile at Supermarine I at least know the club is not run by a bunch of crooks on the make. What’s more, it would be a fantastic journey to see Supermarine do a FGR or Salford on modest means and not ‘buy’ league status like the aforementioned appear to have. For the record, I do not want STFC to fold and end up disappearing from the record books going forward but I am getting fed up of lining the pockets of financial chancers.


Title: Re: Lee Power
Post by: chalkies shorts on Friday, April 30, 2021, 11:30:15
Clearly there is money to be made out of our club, after all we seem to have had a succession of questionable owners in recent years whose words of ‘five year’ plans etc have ended up dying in the embers of another funeral pyre at SN1. I suppose though a number of you will disagree with what I am about to write but it is a forum after all and we’ll not all agree on everything.

My worry is that clearly we have been owned and stewarded by people on the make one way or another and until we do have considerate and wealthy owners ready to invest in as I said the other day both infrastructure and playing staff to get to at least a sustainable championship level (how much that will cost and how long that will take is open to conjecture) we’ll suffer regular bouts of Groundhog Day owner events.

As well meaning as Clem comes across, he is clearly looking at ground development. In other words to make a Buck or five, or millions, who knows? Which brings me to the current situation with Clem, Standing and Barry, again they’re all in it for wonga and lots of it. So for me if it goes tits up spectacularly I’ve only lost a club which has bought me much happiness and much sadness, they will have lost a fuck load of money, which they may or may not be able to afford, well tough shit.

I can always go and support Supermarine and still have live football to follow, they cannot replace their lost money. Not the same I know, but for me a good substitute and when I hand my money over the turnstile at Supermarine I at least know the club is not run by a bunch of crooks on the make. What’s more, it would be a fantastic journey to see Supermarine do a FGR or Salford on modest means and not ‘buy’ league status like the aforementioned appear to have. For the record, I do not want STFC to fold and end up disappearing from the record books going forward but I am getting fed up of lining the pockets of financial chancers.
Supermarine are a great little club with a chairman who is very visible and approachable and actually very likeable.
I think they will achieve promotion within the next 3 seasons to the one under conference. I'm not sure they have the clout to go further with stfc around. But what they have done over the last few years is sustainable. It's incremental growth.


Title: Re: Lee Power
Post by: Pookemon on Friday, April 30, 2021, 11:47:05
Clearly there is money to be made out of our club, after all we seem to have had a succession of questionable owners in recent years whose words of ‘five year’ plans etc have ended up dying in the embers of another funeral pyre at SN1. I suppose though a number of you will disagree with what I am about to write but it is a forum after all and we’ll not all agree on everything.

My worry is that clearly we have been owned and stewarded by people on the make one way or another and until we do have considerate and wealthy owners ready to invest in as I said the other day both infrastructure and playing staff to get to at least a sustainable championship level (how much that will cost and how long that will take is open to conjecture) we’ll suffer regular bouts of Groundhog Day owner events.

As well meaning as Clem comes across, he is clearly looking at ground development. In other words to make a Buck or five, or millions, who knows? Which brings me to the current situation with Clem, Standing and Barry, again they’re all in it for wonga and lots of it. So for me if it goes tits up spectacularly I’ve only lost a club which has bought me much happiness and much sadness, they will have lost a fuck load of money, which they may or may not be able to afford, well tough shit.

I can always go and support Supermarine and still have live football to follow, they cannot replace their lost money. Not the same I know, but for me a good substitute and when I hand my money over the turnstile at Supermarine I at least know the club is not run by a bunch of crooks on the make. What’s more, it would be a fantastic journey to see Supermarine do a FGR or Salford on modest means and not ‘buy’ league status like the aforementioned appear to have. For the record, I do not want STFC to fold and end up disappearing from the record books going forward but I am getting fed up of lining the pockets of financial chancers.

If the structure of the investment is sound and for the benefit of both the club and the individual then I've no problem with an individual making money on the back of the success of the club.

The ground does need a wedge throwing at it, the town end is over 100 years old ffs.  The problem has been that the council won't develop it and no leaseholder would ever spend millions increasing the value for the freeholder so the shared ownership option seems to make sense.   Ground development can then happen and value of club will increase as will revenue (if done correctly).

By the trust owning 50% it's hard to see how anyone can make a quick buck on the ground.   However my understanding is that Clem wants Axis to build it (therefore receiving the construction income) which means he's not really financing the build so gaining asset value without incurring additional investment.   

It seems a sensible use of the resources available to him, so long as the terms are at a commercial rate of course.


Title: Re: Lee Power
Post by: Frigby Daser on Friday, April 30, 2021, 14:05:59
You say that there must be money to make. I’m not so sure. We all know that football beneath the PL is a very difficult business. Even more so when you can’t drive non matchday revenue from your ground. Even more so again when that ground is 25 years past when it should have been redeveloped, means that just to get on an even level with the rest of the pack, we have to redevelop our ground.

I’ve thought for some time that the dirty secret of lower league football is that less reputable owners “buy” a club, and finance it through loan facility A, which may be secured against their own assets, and then put in place loan B, where they loan a similar amount to the football club. The interest and other terms of loan B will be far more favourable to the owner than loan A. This allows people like Lee Power to take on a club with very little risk. At the same time, the profit generating aspects of the club - such as player sales - do not go to the club, but to Power. So they take the upside, limit risk with the potential downside, make sure they win and the club never can.


Title: Re: Lee Power
Post by: Ginginho on Friday, April 30, 2021, 15:34:17
Would the future training ground development (incl stables, houses, etc) be included in any club sale or is that a separate entity?


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Friday, April 30, 2021, 15:41:49
I doubt the land + planning permission will be part of any club sale. That’s the juicy but for Power. The training ground sounds mythical to me - an attempt at keeping the fans on board until all these skeletons came falling out. I don’t believe for a minute what Power said about a peppercorn rent that the club would pay - he would have screwed us just as Kassam has screwed the piss stains over the rent they pay him for the triangle.

Maybe he’d sell that portion of land supposedly set aside for the training ground separately to whoever ends up buying the club.

Tbh, I just want him gone, accept whatever shit comes our way and start again.


Title: Re: Lee Power
Post by: swindonmaniac on Friday, April 30, 2021, 15:45:13


Tbh, I just want him gone, accept whatever shit comes our way and start again.
Can't come soon enough. COYR COYR


Title: Re: Lee Power
Post by: Legends-Lounge on Friday, April 30, 2021, 18:59:22
Would the future training ground development (incl stables, houses, etc) be included in any club sale or is that a separate entity?

I’ve posed this question before on a couple of occasions. I cannot see there being a deal without some reference to the training ground. The club has NIL/NO value at all and massive liabilities. Why would Able buy it for a £1? I can only think of three reasons, 1) the training ground is involved (though not necessarily implicated in the deal on paper) 2) there could be some sort of kickback to power for Able to take on the club and it’s liabilities and thus sidelining Standing and Morfuni off the creditors list if and when the club goes into admin. 3) honest Lee is acting in everyone’s interests and taking one for the team himself while acknowledging his own short comings.


Title: Re: Lee Power
Post by: flammableBen on Friday, April 30, 2021, 19:02:10
2


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Friday, April 30, 2021, 19:26:55
There is no training ground, though. There’s just Power’s golf course that happens to have a bit of land Power waffled about building one on. Even Power couldn’t have committed the club to leasing a non existent training ground. If that is what he wants - to extract copious amounts of rent - he’ll have to build it first.


Title: Re: Lee Power
Post by: Legends-Lounge on Friday, April 30, 2021, 22:24:44
There is no training ground, though. There’s just Power’s golf course that happens to have a bit of land Power waffled about building one on. Even Power couldn’t have committed the club to leasing a non existent training ground. If that is what he wants - to extract copious amounts of rent - he’ll have to build it first.

You are correct, there is no training ground and you and everyone else knows there fucking isn’t going to be one either. That’s where the money is though isn’t it, not in the training ground but the houses that will eventually go on the ghost training ground.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Saturday, May 1, 2021, 04:00:28
Well, yes. But I don’t see what Power owning some land for a housing development/stables has anything to do with STFC. He probably bought the golf course with money generated by the club but that’s about it. I think it’s a complete red herring and is not a factor in him selling the club, who owns the club or all the other bollocks surrounding it.


Title: Re: Lee Power
Post by: china red on Saturday, May 1, 2021, 05:49:07
Wha happened to the Nigel Eady money?


Title: Re: Lee Power
Post by: TheDukeOfBanbury on Saturday, May 1, 2021, 07:16:36
Well, yes. But I don’t see what Power owning some land for a housing development/stables has anything to do with STFC. He probably bought the golf course with money generated by the club but that’s about it. I think it’s a complete red herring and is not a factor in him selling the club, who owns the club or all the other bollocks surrounding it.

Sadly you are correct.
Notwithstanding Power also pays himself a sizeable salary from the club.


Title: Re: Lee Power
Post by: TheDukeOfBanbury on Saturday, May 1, 2021, 07:17:13
Wha happened to the Nigel Eady money?

All safe and ring fenced despite the parasite wanted to get to it.


Title: Re: Lee Power
Post by: ron dodgers on Saturday, May 1, 2021, 11:35:01
Roooooarrr payed himself 10k a month, Christ  (or his banker) knows how much Lee Power pays himself?


Title: Re: Lee Power
Post by: Legends-Lounge on Saturday, May 1, 2021, 12:51:09
All safe and ring fenced despite the parasite wanted to get to it.

What a surprise, not.


Title: Re: Lee Power
Post by: Legends-Lounge on Saturday, May 1, 2021, 12:56:37
There is no training ground, though. There’s just Power’s golf course that happens to have a bit of land Power waffled about building one on. Even Power couldn’t have committed the club to leasing a non existent training ground. If that is what he wants - to extract copious amounts of rent - he’ll have to build it first.

There is no training ground, though. And there won’t ever be one while he hangs around. There’s just Power’s golf course that happens to have a bit of land Power waffled about building one on. Even Power couldn’t have committed the club to leasing a non existent training ground. If that is what he wants - to extract copious amounts of rent - he’ll have to build it first. Which he won’t. The only thing going on there is housing, which in my mind is why Able have appeared on the scene like a fairy godmother (well for Power anyway) but in reality is a Trojan Horse for the rest of us.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Saturday, May 1, 2021, 13:19:03
May be I’m being a bit thick, but I still don’t see what the golf course has to do with the club at all. Power owns it. If Able want it they can do so without having to buy STFC.

Btw, the company name that Able are purporting to use in connection with buying the club doesn’t exist anywhere. It’s not listed nor does Dr Google recognise it.


Title: Re: Lee Power
Post by: Legends-Lounge on Saturday, May 1, 2021, 14:35:40
May be I’m being a bit thick, but I still don’t see what the golf course has to do with the club at all. Power owns it. If Able want it they can do so without having to buy STFC.

Btw, the company name that Able are purporting to use in connection with buying the club doesn’t exist anywhere. It’s not listed nor does Dr Google recognise it.

I doubt you’re anymore or less thicker than anyone on here. Your points are as valid as mine or anyone else’s. You know none of us has a clue what’s really going on behind the scenes and we’re all second guessing and adding two plus two and getting the square route of fuck all. My point really is although you and maybe others are happy dismiss any notion of the Highworth site being in anyway linked to the club sale, you cannot rule it out or in 100% can you? You know as well as everyone else that he is capable of anything.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Saturday, May 1, 2021, 14:59:20
It’s just that I don’t see how the golf course affects anything to do with the club.


Title: Re: Lee Power
Post by: DV Canio on Saturday, May 1, 2021, 15:11:27
It’s just that I don’t see how the golf course affects anything to do with the club.

I assume people think his plan was to lease the land to the club under the pretence that it was going to eventually be our training ground but he’d never actually build a training ground citing numerous excuses.

Works (I think) whilst Power is in Power but doesn’t work once he’s no longer in charge.


Title: Re: Lee Power
Post by: Jimmy Quinn on Saturday, May 1, 2021, 17:16:14
What If he's here for next season as there are no guarantees that he will sell up


Title: Re: Lee Power
Post by: Ardiles on Saturday, May 1, 2021, 17:39:12
All safe and ring fenced despite the parasite wanted to get to it.

I'd assumed that had been spent a long time ago.  Good to know.  Trustees doing their job well.


Title: Re: Lee Power
Post by: Legends-Lounge on Saturday, May 1, 2021, 17:42:25
What If he's here for next season as there are no guarantees that he will sell up

Still be no training ground. 😁


Title: Re: Lee Power
Post by: tans on Saturday, May 1, 2021, 17:49:03
I'd assumed that had been spent a long time ago.  Good to know.  Trustees doing their job well.

I thought it was used for the FITC on the CG Extension?


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Saturday, May 1, 2021, 17:56:15
Wonder when we’ll hear something about either

The FA charges
Club Sale
Club ownership
New manager
Someone being banged up


Title: Re: Lee Power
Post by: Cowley38 on Saturday, May 1, 2021, 18:05:31
Wonder when we’ll hear something about either

The FA charges
Club Sale
Club ownership
New manager
Someone being banged up

Soon


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Saturday, May 1, 2021, 18:05:50
Define ‘soon’


Title: Re: Lee Power
Post by: Berniman on Saturday, May 1, 2021, 18:17:52
I thought it was used for the FITC on the CG Extension?

Some of it, not all.  Some of the funding for that came from the Premier League and Lottery etc.


Title: Re: Lee Power
Post by: tans on Saturday, May 1, 2021, 18:24:45
Makes sense, cheers Berni


Title: Re: Lee Power
Post by: Legends-Lounge on Saturday, May 1, 2021, 18:42:52
Some of it, not all.  Some of the funding for that came from the Premier League and Lottery etc.

Sound.


Title: Re: Lee Power
Post by: Peter Venkman on Saturday, May 1, 2021, 18:48:43
Some of it, not all.  Some of the funding for that came from the Premier League and Lottery etc.

https://www.swindonadvertiser.co.uk/news/17434050.nigel-eady-trust-donation-helps-get-swindon-town-charity-facility-plans-moving/

https://www.swindonadvertiser.co.uk/sport/16272370.nigel-eady-legacy-not-funding-swindon-town-training-base/


Title: Re: Lee Power
Post by: wheretherealredsare on Saturday, May 1, 2021, 18:49:01

Any idea which one or ones?
Soon


Title: Re: Lee Power
Post by: Frigby Daser on Saturday, May 1, 2021, 19:01:52
If Cowley knows enough to say we’ll know something soon, could you give a “thumbs up soon”, or a “hide, and don’t come out all summer” soon, just to save us checking on here constantly in the blind hope that we’re being bought by someone honest....


Title: Re: Lee Power
Post by: Cowley38 on Saturday, May 1, 2021, 19:20:49
If Cowley knows enough to say we’ll know something soon, could you give a “thumbs up soon”, or a “hide, and don’t come out all summer” soon, just to save us checking on here constantly in the blind hope that we’re being bought by someone honest....

 :beers:


Title: Re: Lee Power
Post by: Cowley38 on Saturday, May 1, 2021, 19:41:48
If Cowley knows enough to say we’ll know something soon, could you give a “thumbs up soon”, or a “hide, and don’t come out all summer” soon, just to save us checking on here constantly in the blind hope that we’re being bought by someone honest....

Skeletons will tumble out of the closet....


Title: Re: Lee Power
Post by: Frigby Daser on Saturday, May 1, 2021, 19:50:52
I really hope you are right!


Title: Re: Lee Power
Post by: TheDukeOfBanbury on Saturday, May 1, 2021, 20:19:12
Wonder when we’ll hear something about either

The FA charges
Club Sale
Club ownership
New manager
Someone being banged up

Mid May and we should know what is likely going to happen.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Saturday, May 1, 2021, 20:27:01
Skeletons will tumble out of the closet....


Title: Re: Lee Power
Post by: Batch on Saturday, May 1, 2021, 20:35:03
skeletons - I'd imagine clem is currently scrutinising the books that I totally believe Power will have provided without issue on time


Title: Re: Lee Power
Post by: pauld on Saturday, May 1, 2021, 20:46:19
Skeletons will tumble out of the closet....
Gay skeletons?


Title: Re: Lee Power
Post by: Cowley38 on Saturday, May 1, 2021, 20:47:37
Gay skeletons?

Nothing would surprise me with Power


Title: Re: Lee Power
Post by: 4D on Saturday, May 1, 2021, 20:55:53
Gay skeletons?

Bonophobe.


Title: Re: Lee Power
Post by: Crackity Jones on Saturday, May 1, 2021, 21:00:18
 :hmmm:
Bonophobe.
:hmmm:I what have U2 got to do with this ?


Title: Re: Lee Power
Post by: pauld on Sunday, May 2, 2021, 15:22:28
Bonophobe.
:D


Title: Re: Lee Power
Post by: bamboonoclue on Sunday, May 2, 2021, 19:06:49
I know you're trying to be humerus 4D but for once it isn't on my radius, what you're ulna bout...


No arm done, I suppose!













*Don't worry, I put the coat back on before I even contemplated writing that!


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, May 3, 2021, 13:31:26
So, all things being equal - Power has gone, we’ve got a middling to top end budgie and a new manager.

How many points deducted could we overcome and stay in L2?

I reckon 10-12.


Title: Re: Lee Power
Post by: Nemo on Monday, May 3, 2021, 14:07:28
So, all things being equal - Power has gone, we’ve got a middling to top end budgie and a new manager.

How many points deducted could we overcome and stay in L2?

I reckon 10-12.

2018-19 under Brown/Wellens we finished 23 points above the drop
2017-18 under Flitcroft/Brown 22 points above

Two down means you have to be really quite bad to go down. Not that I don't think we could manage it in the right circumstances.


Title: Re: Lee Power
Post by: Jimmy Quinn on Monday, May 3, 2021, 14:12:47
Still achieving 55-58/9 points could prove difficult


Title: Re: Lee Power
Post by: Flashheart on Monday, May 3, 2021, 14:15:41
Last season, we finished 12 points ahead of 8th. A margin that would probably have been wider if the season had finished.

Why assume not going down should be the aim? And we don't even know if we will be deducted any points at all, so we're jumping the gun a bit here.


Title: Re: Lee Power
Post by: Quagmire on Tuesday, May 4, 2021, 09:11:43
So the information Power was required to give Clem, has indeed been shared.


Title: Re: Lee Power
Post by: tans on Tuesday, May 4, 2021, 09:26:15
So the information Power was required to give Clem, has indeed been shared.

At which point Clem looks at it and thinks ‘fuck this’


Title: Re: Lee Power
Post by: horlock07 on Tuesday, May 4, 2021, 09:56:14
So the information Power was required to give Clem, has indeed been shared.

Been leaked on Twitter as well....

(https://media.istockphoto.com/photos/scrawled-on-the-back-of-an-envelope-picture-id172965461?s=612x612)


Title: Lee Power
Post by: Batch on Tuesday, May 4, 2021, 10:20:48
Quote
So the information Power was required to give Clem, has indeed been shared.
That's good. Is this in the public domain or is it grapevine stuff?

edit: https://twitter.com/TrustSTFC/status/1389478789982347266?s=19


Title: Re: Lee Power
Post by: horlock07 on Tuesday, May 4, 2021, 10:34:50
You say that there must be money to make. I’m not so sure. We all know that football beneath the PL is a very difficult business.

As I have noted many times whilst there might be money to be made out of lower league football clubs, there are a damn sight easier ways of making money, without the risk or associated public scrutiny, still don't get the appeal.

I doubt the land + planning permission will be part of any club sale. That’s the juicy but for Power. The training ground sounds mythical to me - an attempt at keeping the fans on board until all these skeletons came falling out. I don’t believe for a minute what Power said about a peppercorn rent that the club would pay - he would have screwed us just as Kassam has screwed the piss stains over the rent they pay him for the triangle.

Maybe he’d sell that portion of land supposedly set aside for the training ground separately to whoever ends up buying the club.

Tbh, I just want him gone, accept whatever shit comes our way and start again.

In playing a longer game the training ground land could be worth a hell of a lot more than it is now with a little bit of investment to make it 'the training ground'. To me the Houses site is the short term return, the training ground is a longer term investment and the stables are Powers plaything funded by the other elements.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, May 4, 2021, 10:37:28
But if a club sale is imminent, surely Power can’t commit the club to renting some mythical training ground of him that is, at this moment, just a field.


Title: Re: Lee Power
Post by: horlock07 on Tuesday, May 4, 2021, 10:38:48
But if a club sale is imminent, surely Power can’t commit the club to renting some mythical training ground of him that is, at this moment, just a field.

Its not that, with a bit of nous and some careful strategy he could uplift the value hugely through playing the planning system cleverly.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, May 4, 2021, 10:40:40
I’ll have to leave that to those with knowledge of said system. It’s beyond my ken.


Title: Re: Lee Power
Post by: Bob's Orange on Tuesday, May 4, 2021, 10:40:44
As I have noted many times whilst there might be money to be made out of lower league football clubs, there are a damn sight easier ways of making money, without the risk or associated public scrutiny, still don't get the appeal.


Surely, realistically, the easiest way to actually make any money from a football club is via the main asset which is the ground. i.e selling it to a supermarket or similar for redevelopment. Obviously LP can't do this but as you say, the 'training ground' appears to be his money maker.


Title: Re: Lee Power
Post by: horlock07 on Tuesday, May 4, 2021, 10:44:27
Surely, realistically, the easiest way to actually make any money from a football club is via the main asset which is the ground. i.e selling it to a supermarket or similar for redevelopment. Obviously LP can't do this but as you say, the 'training ground' appears to be his money maker.

TBH I was being more generic than that, but to use Swindon as an example, in theory it appears that Power/Standing or whoever is into the club by about £5-7.5m, yes he might have made some cash back by player sales etc but in terms of assets his investment has left him with the square root of very little tangible, there are many ways that you could invest that sort of cash (commercial property for one) and have a steady income stream plus an asset available.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, May 4, 2021, 10:49:11
Surely, realistically, the easiest way to actually make any money from a football club is via the main asset which is the ground. i.e selling it to a supermarket or similar for redevelopment. Obviously LP can't do this but as you say, the 'training ground' appears to be his money maker.
I still don’t get the training ground issue. If Power is gone within the month (Praise de Lord!), the golf course is his to do with as he chooses. He can build the most fantastic training ground if he wishes, but there surely is no commitment upon the club to rent it off him.

I’d imagine Clem would rather eat his own spleen than to have any sort of connection with Power.


Title: Re: Lee Power
Post by: horlock07 on Tuesday, May 4, 2021, 10:59:03
I still don’t get the training ground issue. If Power is gone within the month (Praise de Lord!), the golf course is his to do with as he chooses. He can build the most fantastic training ground if he wishes, but there surely is no commitment upon the club to rent it off him.

I’d imagine Clem would rather eat his own spleen than to have any sort of connection with Power.

Am I imagining it, or didn't the Trust suggest that Standing (an other) also have cash tied up in the training ground site. I am sure that when the planning application was first submitted they completed Certificate A suggesting that the applicant (STFC) owned the land, this was later amended and a second certificate served stating L Power was the owner.

Power really needs to get a training ground built (with our without a tenant) for minimal cost to unlock a load of cash.


Title: Re: Lee Power
Post by: pauld on Tuesday, May 4, 2021, 11:57:52
I still don’t get the training ground issue. If Power is gone within the month (Praise de Lord!), the golf course is his to do with as he chooses. He can build the most fantastic training ground if he wishes, but there surely is no commitment upon the club to rent it off him.
Or not bother with a training ground at all and just sell the whole lot to a developer to build houses on. Which is where the money is


Title: Re: Lee Power
Post by: horlock07 on Tuesday, May 4, 2021, 12:02:28
Or not bother with a training ground at all and just sell the whole lot to a developer to build houses on. Which is where the money is

Not necessarily....


Title: Re: Lee Power
Post by: Bogus Dave on Tuesday, May 4, 2021, 12:05:45
Maybe power wants to put the training ground/land usage in as a condition of sale which able are happy with (hence lower bid) and axis aren’t. I don’t know, thinking out loud


Title: Re: Lee Power
Post by: Legends-Lounge on Tuesday, May 4, 2021, 13:24:19
Maybe power wants to put the training ground/land usage in as a condition of sale which able are happy with (hence lower bid) and axis aren’t. I don’t know, thinking out loud

That’s where I’m coming from, if Axis are for real. Or a stalking/Trojan horse.


Title: Re: Lee Power
Post by: Batch on Tuesday, May 4, 2021, 13:42:23
Quote from: Legends-Lounge
That’s where I’m coming from, if Axis are for real. Or a stalking/Trojan horse.

Able?


Title: Re: Lee Power
Post by: RobertT on Tuesday, May 4, 2021, 13:46:32
Just guessing, but I imagine that having a loss making business that someone else is funding opaquely comes in handy in avoiding further taxes, which he has a penchant for.


Title: Re: Lee Power
Post by: 4D on Tuesday, May 4, 2021, 14:41:01
Able?

Stable?


Title: Re: Lee Power
Post by: Matchworn Shirts on Tuesday, May 4, 2021, 15:04:51
UnAble


Title: Re: Lee Power
Post by: Legends-Lounge on Tuesday, May 4, 2021, 15:19:59
Able?

Yes, of course Able, my bad.


Title: Re: Lee Power
Post by: Nemo on Wednesday, May 5, 2021, 10:29:25
https://www.bbc.co.uk/sport/football/56988691

I see there is no league we can't finish bottom of!


Title: Re: Lee Power
Post by: horlock07 on Wednesday, May 5, 2021, 11:19:06
https://www.bbc.co.uk/sport/football/56988691

I see there is no league we can't finish bottom of!

Amusingly that's only for 2019-20 so before things got really shit!


Title: Re: Lee Power
Post by: Red Frog on Wednesday, May 5, 2021, 11:30:01
Amusingly that's only for 2019-20 so before things got really shit!

Also a bit harsh when Wellens was encouraging community outreach stuff (I'm so glad Reg - RIP - isn't here to jump on this) and we had a new social media guy who was doing good work. We were really worse than every team in L2? Below Macclesfield who I imagine stopped engaging completely after they went bust? Kinell, it's like losing a boxing match against a corpse.


Title: Re: Lee Power
Post by: Nemo on Wednesday, May 5, 2021, 12:01:14
https://fanengagement.net/fan-engagement-index/

Digging into the detail, Town scored 0 for dialogue and transparency, 10 for governance. Each category is scored out of 80 on various criteria. It looks like one guy's passion project, so it's quite possible that things were just missed occasionally.

I actually don't think Town should have 0 for dialogue, because there are basic things like "having a Twitter account" that should score. Obviously things like structured dialogue with fan's groups are gone now, but I think there was at least some over the proposed CG purchase.

Transparency seems like the fairest 0 - no fan forums, minutes of board meetings etc.


Title: Re: Lee Power
Post by: horlock07 on Wednesday, May 5, 2021, 12:19:35
Oh to have this level of transparency (25% fan owned)... Their accounts run to 40 plus pages each year! https://find-and-update.company-information.service.gov.uk/company/00175280/filing-history

https://cumbriacrack.com/2021/05/05/carlisle-united-financial-results-2020-21-figures-show-impact-of-coronavirus/


Title: Re: Lee Power
Post by: horlock07 on Wednesday, May 5, 2021, 15:26:00
Looking at pictures on Twitter there seems to be some quite extensive work being done on the pitch, so someone must be paying for that!


Title: Re: Lee Power
Post by: ronnie21 on Wednesday, May 5, 2021, 15:38:35
Looking at pictures on Twitter there seems to be some quite extensive work being done on the pitch, so someone must be paying for that!
Must be contractors brought in or is our groundsman now out?


Title: Re: Lee Power
Post by: Power to people on Wednesday, May 5, 2021, 15:43:12
Looking at pictures on Twitter there seems to be some quite extensive work being done on the pitch, so someone must be paying for that!

Getting things on credit, depends what actually needs to be bought though, it may just be re-seeded which Marcus does every year so may have a job lot of seeds in the shed, and may have borrowed the rotavator.

But equally, I'm sure the groundsman (the one we have on loan) has a budget, he wouldn't have been brought into not do anything with the pitch.

Wasn't there work or investigation that needed to be done on the drainage of the pitch though ?


Title: Re: Lee Power
Post by: horlock07 on Wednesday, May 5, 2021, 15:49:10
Getting things on credit, depends what actually needs to be bought though, it may just be re-seeded which Marcus does every year so may have a job lot of seeds in the shed, and may have borrowed the rotavator.

But equally, I'm sure the groundsman (the one we have on loan) has a budget, he wouldn't have been brought into not do anything with the pitch.

Wasn't there work or investigation that needed to be done on the drainage of the pitch though ?

I cannot see anyone extending credit to a company where the owner has public stated they are skint.

https://twitter.com/EcosolTurfcare/status/1389931877688094723?s=20


Title: Re: Lee Power
Post by: horlock07 on Thursday, May 6, 2021, 09:27:26
Could this be a reason why Power is so keen to sell to Able for £1 rather than Clem for £7.5m?

https://www.swindonadvertiser.co.uk/news/18463345.swindon-towns-lee-power-taken-court-club-sale/

Court documents show share sale agreement was signed in June 2018, with Morfuni’s company Axis agreeing to pay £1.1m in return for 15 per cent of the shares in Swinton and 15 per cent in Seebeck.

The cash was paid by the end of December 2018. Under the terms of their agreement Power should have sent his new business partner documents confirming the shares had been transferred and Axis registered as a “member” on the companies’ paperwork. That is yet to happen.

In early 2019, Power flagged a problem. The court heard he told Morfuni he was worried he could face a substantial capital gains tax bill on the sale of the Swinton shares. He asked for the “consideration” in the share agreement to be revised from £1.1m to £1. Axis’ lawyers drafted a revised share agreement and another contract for a £1.1m loan between Axis and Swindon Town.


Title: Re: Lee Power
Post by: Costanza on Thursday, May 6, 2021, 13:16:15
Judge Thompsell mentioned during the last court hearing that he could see why Power wanted to sell for £1 as Michael Standing would only be entitled to 50p. It was definitely said but my brain was already frazzled by that point.


Title: Re: Lee Power
Post by: jevs on Thursday, May 6, 2021, 14:01:46
Judge Thompsell mentioned during the last court hearing that he could see why Power wanted to sell for £1 as Michael Standing would only be entitled to 50p. It was definitely said but my brain was already frazzled by that point.

At what point will we reliably discover if Able are real, independent investors or just a complex corporate structure designed to return some profit to Power at a later date? Personally I find it hard to find them plausible at this point.

This has probably been covered and I've missed it, but what does Morfuni's (?) £7.5 million offer actually cover? Is the debenture to Black and land in Highworth included in that sum, or is it purely that high a figure just for Power's (& presumably Standing's share?)


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Thursday, May 6, 2021, 14:09:14
The £7.5mwas actually Able’s Supposed bid - according to the letter that never was.

Clem has said he has offered in excess of that figure. The Highworth golf course has nothing to do with the club sale.

I do find it difficult to see what anyone actually gets for £7.5m though.

If the club is sold for £7.5m it would see Power and Standing getting £3.185m each - if Standing does, indeed, own half of Power’s share.


Title: Re: Lee Power
Post by: horlock07 on Thursday, May 6, 2021, 14:16:56
At what point will we reliably discover if Able are real, independent investors or just a complex corporate structure designed to return some profit to Power at a later date? Personally I find it hard to find them plausible at this point.

This has probably been covered and I've missed it, but what does Morfuni's (?) £7.5 million offer actually cover? Is the debenture to Black and land in Highworth included in that sum, or is it purely that high a figure just for Power's (& presumably Standing's share?)

Doesn't Power now hold the debenture that Black formerly had, this being after telling Standing that he paid it off with the Richie money which he didn't, despite asking Standing for more cash to cover it.


Title: Re: Lee Power
Post by: Flashheart on Thursday, May 6, 2021, 14:19:36
Judge Thompsell mentioned during the last court hearing that he could see why Power wanted to sell for £1 as Michael Standing would only be entitled to 50p. It was definitely said but my brain was already frazzled by that point.

But, then, Power would also only get 50p. As opposed to more than 3.5 million if he accepted clem's bid and split it with Standing.

Unless there's a load of other debt we're not being told about, but would that value of that debt necessarily be affected by how much the club is sold for. My brain is also a bit frazzled.


Title: Re: Lee Power
Post by: Berniman on Thursday, May 6, 2021, 14:38:59
But, then, Power would also only get 50p. As opposed to more than 3.5 million if he accepted clem's bid and split it with Standing.

Unless there's a load of other debt we're not being told about, but would that value of that debt necessarily be affected by how much the club is sold for. My brain is also a bit frazzled.

He would get 50p plus any debts owed to him.  As he is (reportedly) the clubs largest debtor, any money that he "loaned" to the club (which was probably proceeds of player sales) would be due back to him.

That's how I see it - but I am no business matermind


Title: Re: Lee Power
Post by: Quagmire on Thursday, May 6, 2021, 14:41:02
Power has also bought Blacks £2m debt, for less than £2m. But he of course would be owed that in full from any future sale.
He knows what he’s doing.


Title: Re: Lee Power
Post by: jevs on Thursday, May 6, 2021, 14:41:59
The £7.5mwas actually Able’s Supposed bid - according to the letter that never was.

Clem has said he has offered in excess of that figure. The Highworth golf course has nothing to do with the club sale.

I do find it difficult to see what anyone actually gets for £7.5m though.

If the club is sold for £7.5m it would see Power and Standing getting £3.185m each - if Standing does, indeed, own half of Power’s share.

OK, thanks. The £7.5m ish figure I suppose roughly corresponds with £1.1m for 15%, Morfuni could end up Bill Power for a new generation. As you say the figure doesn't relate to the tangible assets, turnover or any normal metric excepting all us idiots goodwill.

Maybe Morfuni should have offered to pay in CGT free gold, that goes down well in Switzerland I understand.

It's hard to see how Power 'wins' the court cases - he seems to agree that either Standing or Barry own/are owed half and has handed over Morfuni's share but it seems to me that he still holds all the cards while he still runs the clubs finances and I have no clue who is feeling more pain with the court case


Title: Re: Lee Power
Post by: Panda Paws on Thursday, May 6, 2021, 14:44:37
Power has also bought Blacks £2m debt, for less than £2m. But he of course would be owed that in full from any future sale.
He knows what he’s doing.

Especially if he didn't front the cash...


Title: Re: Lee Power
Post by: jevs on Thursday, May 6, 2021, 15:04:53
Especially if he didn't front the cash...

Would the debenture have been cancelled had the club been taken into admin?


Title: Re: Lee Power
Post by: Legends-Lounge on Thursday, May 6, 2021, 15:39:54
Power has also bought Blacks £2m debt, for less than £2m. But he of course would be owed that in full from any future sale.
He knows what he’s doing.

“He knows what he’s doing.” Of that you can be sure. I’d cover that by adding so do Standing, Clem, their Barristers and the judge. I don’t believe Power is fooling anyone further up the greasy pole.


Title: Re: Lee Power
Post by: horlock07 on Thursday, May 6, 2021, 15:48:38
“He knows what he’s doing.” Of that you can be sure. I’d cover that by adding so do Standing, Clem, their Barristers and the judge. I don’t believe Power is fooling anyone further up the greasy pole.


I think he was 'being' clever until a) he got Clem involved as he has proven a rather belligerent investor unlike the back of envelope spit in palm ones we seem to have had previously and b) covid struck which fucked it all up.

What I see now is someone desperately trying to keep plates spinning whilst trying to rip the radiators off the walls.



Title: Re: Lee Power
Post by: Legends-Lounge on Thursday, May 6, 2021, 16:06:05
I think he was 'being' clever until a) he got Clem involved as he has proven a rather belligerent investor unlike the back of envelope spit in palm ones we seem to have had previously and b) covid struck which fucked it all up.

What I see now is someone desperately trying to keep plates spinning whilst trying to rip the radiators off the walls.



Very much my thoughts.


Title: Re: Lee Power
Post by: tans on Thursday, May 6, 2021, 17:02:44
Especially if he didn't front the cash...

Are you suggesting someone else has paid it?


Title: Re: Lee Power
Post by: RobertT on Thursday, May 6, 2021, 19:00:41
Best guess, Standing paid most of the Operating costs.  A sale for a quid but with the debts being honoured possibly provides Power what he needs to avoid a CGT bill but also protection of the income for the debts.  Standing then has to get in line to sue him for any money he thinks he channeled in.  That's Powers best exit.

Having a co-owner creates a problem - they can decide against that sale and go for one that gets more money upfront and probably go through the Courts to get a decision.


Title: Re: Lee Power
Post by: Panda Paws on Thursday, May 6, 2021, 19:11:51
Are you suggesting someone else has paid it?

No. I'm not suggesting anything.

But if you can buy a £2m debenture for £200k of someone else's money, say, and finance that by promising said someone £400k of the £2m... it's a pretty good deal.


Title: Re: Lee Power
Post by: tans on Thursday, May 6, 2021, 19:16:00
No. I'm not suggesting anything.

But if you can buy a £2m debenture for £200k of someone else's money, say, and finance that by promising said someone £400k of the £2m... it's a pretty good deal.

Makes sense, i thought the full stops at the end of your post meant you knew something. My bad


Title: Re: Lee Power
Post by: Legends-Lounge on Thursday, May 6, 2021, 19:40:28
Maybe the net is closing.


Title: Re: Lee Power
Post by: theakston2k on Thursday, May 6, 2021, 23:53:41
Wherever the money is coming from at least they are doing a proper renovation of the pitch and sorting out the drainage issues.

https://twitter.com/ecosolturfcare/status/1390287193596473345?s=21


Title: Re: Lee Power
Post by: singingiiiffy on Friday, May 7, 2021, 07:55:56
Wherever the money is coming from at least they are doing a proper renovation of the pitch and sorting out the drainage issues.

https://twitter.com/ecosolturfcare/status/1390287193596473345?s=21

that bloody lee power has even stripped us of the county ground turf. power out


Title: Re: Lee Power
Post by: Legends-Lounge on Friday, May 7, 2021, 08:15:44
that bloody lee power has even stripped us of the county ground turf. power out

Good one, excellent to start the day.


Title: Re: Lee Power
Post by: Power to people on Friday, May 7, 2021, 16:22:27
Assuming next weeks court case is to decide the ownership issue, lets hope this has given Clem enough time to analyse the accounts and come up with a suitable offer, this hasn't given him long though, under 2 weeks, although I believe he told the court he believed he would only need about a week.

Lets hope there isn't one last card for Power to play.


Title: Lee Power
Post by: Batch on Friday, May 7, 2021, 18:08:47
there's doubt on whether there is a case next week from what I read on Twitter

this thread

https://twitter.com/MrBraindown/status/1390310731686494210?s=19


Title: Re: Lee Power
Post by: TheDukeOfBanbury on Friday, May 7, 2021, 19:14:09
Assuming next weeks court case is to decide the ownership issue, lets hope this has given Clem enough time to analyse the accounts and come up with a suitable offer, this hasn't given him long though, under 2 weeks, although I believe he told the court he believed he would only need about a week.

Lets hope there isn't one last card for Power to play.


Week after next.


Title: Re: Lee Power
Post by: swindonmaniac on Saturday, May 8, 2021, 17:48:56
He'll find something to delay proceedings in order to continue milking this club for every last penny.


Title: Re: Lee Power
Post by: Legends-Lounge on Saturday, May 8, 2021, 17:58:59
He'll find something to delay proceedings in order to continue milking this club for every last penny.

I think the cow is barren now, no milk left I should think.


Title: Re: Lee Power
Post by: pauld on Saturday, May 8, 2021, 19:05:23
I think the cow is barren now, no milk left I should think.
Payne, Twine, Odimayo, season ticket sales (if he dares). Always something left to squeeze out


Title: Re: Lee Power
Post by: Legends-Lounge on Saturday, May 8, 2021, 19:19:15
Payne, Twine, Odimayo, season ticket sales (if he dares). Always something left to squeeze out

Let’s see how that pans out.


Title: Re: Lee Power
Post by: Tails on Sunday, May 9, 2021, 12:51:30
Not sure if this is the right place to put this but a friend of mine put in a dispute with Natwest about his season ticket money and, after a few weeks, they've refunded him in full and given STFC 45 days to respond.

Might be worth a go for any of you wanting refunds.


Title: Re: Lee Power
Post by: Power to people on Monday, May 10, 2021, 15:35:05
Week after next.

I thought it came from the Trust it was this week


Title: Re: Lee Power
Post by: theakston2k on Monday, May 10, 2021, 15:45:36
Not sure if this is the right place to put this but a friend of mine put in a dispute with Natwest about his season ticket money and, after a few weeks, they've refunded him in full and given STFC 45 days to respond.

Might be worth a go for any of you wanting refunds.
Will probably go down this route in the next couple of weeks if we hear nothing, always pay for my season ticket on a credit card exactly for this reason. Not exactly much of a moral argument currently not to get money back from the club....


Title: Re: Lee Power
Post by: horlock07 on Tuesday, May 11, 2021, 16:36:08
Steve Anderson no longer a Director of STFC Ltd* as of today. (well actually as of 1st May, but Companies House only updated by way of Notice filed today).

So Power now sole director.

* Remains Director of Seebeck and Swinton for now it appears, albeit its taken them 10 days to update the STFC records so who knows.


Title: Re: Lee Power
Post by: Batch on Tuesday, May 11, 2021, 16:41:39
interesting


Title: Re: Lee Power
Post by: The Grim Reaper on Tuesday, May 11, 2021, 18:05:20
The start of a transition of Power to new owners maybe?


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, May 11, 2021, 18:21:26
You know the media outlets have pre-prepared tributes ready for the death of a Royal, I wonder what Power’s farewell will be like.

Here’s mine.

https://underclassuk.bandcamp.com/track/fuck-right-off-you-cunt


Title: Re: Lee Power
Post by: swindonmaniac on Wednesday, May 12, 2021, 10:58:37
You know the media outlets have pre-prepared tributes ready for the death of a Royal, I wonder what Power’s farewell will be like.

Here’s mine.

https://underclassuk.bandcamp.com/track/fuck-right-off-you-cunt
And mine.  :clap: :clap: :clap:    :cunty::cunty:    :ty: :ty:


Title: Re: Lee Power
Post by: Posh Red on Wednesday, May 12, 2021, 12:56:39
Has he gone yet?

When is the next instalment of court proceedings due?


Title: Re: Lee Power
Post by: Bob's Orange on Wednesday, May 12, 2021, 13:00:04
Has he gone yet?

When is the next instalment of court proceedings due?

Think its next week at some stage.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, May 12, 2021, 13:05:16
I’m all Powered out with the shenanigans. What’s the next court appearance supposed to address?


Title: Re: Lee Power
Post by: 4D on Wednesday, May 12, 2021, 13:46:02
I’m all Powered out with the shenanigans. What’s the next court appearance supposed to address?

How things have gone downhill faster than you on an electric bike?  :)


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, May 12, 2021, 14:14:39
That fast!


Title: Re: Lee Power
Post by: tans on Wednesday, May 12, 2021, 14:17:52
Steve Anderson sfill CEO according to the adver

The ex marketing lady was going off on one last night on facebook about him, ‘biggest twat ive ever been around in my life’ was mentioned


Title: Re: Lee Power
Post by: Riddick on Wednesday, May 12, 2021, 14:26:55
Having had some involvement with those that worked for him that seems to be a constant theme.

So he is no longer Director for personal reasons, but is still CEO. Um what? Surely the CEO bit is the job. Sounds like crap to me.


Title: Re: Lee Power
Post by: Batch on Wednesday, May 12, 2021, 14:43:08
"So he is no longer Director for personal reasons, "

Sale of club coming or doesn't want to get done for possiby trading while insolvent*

* which I beleive is what the judge said we were


Title: Re: Lee Power
Post by: horlock07 on Wednesday, May 12, 2021, 15:06:00
Sale of club coming or doesn't want to get done for possiby trading while insolvent*

* which I beleive is what the judge said we were

But that was the same judge who ruled we couldn't be put into admin, so not sure how the club can be clobbered on that count.

I note the Adver broke this about 24 hours after I did on here, perhaps I will get a fee.....


Title: Re: Lee Power
Post by: Power to people on Wednesday, May 12, 2021, 16:33:16
But that was the same judge who ruled we couldn't be put into admin, so not sure how the club can be clobbered on that count.

I note the Adver broke this about 24 hours after I did on here, perhaps I will get a fee.....

Better, still offer to write their articles as they seem to get most story's from TEF or FB anyway these days, sadly they don't have time to do their own investigations


Title: Re: Lee Power
Post by: Matchworn Shirts on Wednesday, May 12, 2021, 17:20:11
Give Tans the 'transfer rumours' section


Title: Re: Lee Power
Post by: Cowley38 on Wednesday, May 12, 2021, 18:28:04
Next week........

 :beers:


Title: Re: Lee Power
Post by: The Grim Reaper on Wednesday, May 12, 2021, 18:58:36
Next week........

 :beers:

Hopefully something positive will happen next week too, however my gut feeling is Power has no interest in selling to Clem and will make this as difficult as possible. Power has made it clear he only wants to sell to Able. Either way I hope it’s sorted way before the new season starts as we could really do with playing staff, coaching staff, office staff and so on.


Title: Re: Lee Power
Post by: Legends-Lounge on Wednesday, May 12, 2021, 19:05:07
Hopefully something positive will happen next week too, however my gut feeling is Power has no interest in selling to Clem and will make this as difficult as possible. Power has made it clear he only wants to sell to Able. Either way I hope it’s sorted way before the new season starts as we could really do with playing staff, coaching staff, office staff and so on.

I think the emoji might be a give away.


Title: Re: Lee Power
Post by: Bob's Orange on Wednesday, May 12, 2021, 19:11:42
Next week........

 :beers:

Pubs opening?


Title: Re: Lee Power
Post by: Legends-Lounge on Wednesday, May 12, 2021, 19:37:06
Pubs opening?

Why yes, top of the class. Surprised it took so long.


Title: Re: Lee Power
Post by: Bob's Orange on Wednesday, May 12, 2021, 20:23:17
Why yes, top of the class. Surprised it took so long.

Surprised what took so long? The pubs opening?


Title: Re: Lee Power
Post by: TheDukeOfBanbury on Wednesday, May 12, 2021, 21:31:00
Think its next week at some stage.

Monday.


Title: Re: Lee Power
Post by: Legends-Lounge on Wednesday, May 12, 2021, 22:20:42
Surprised what took so long? The pubs opening?

No, you working it out 😉


Title: Re: Lee Power
Post by: Frigby Daser on Thursday, May 13, 2021, 08:33:12
So what are the potential outcomes from Monday? I’ve not followed the court proceedings closely enough.


Title: Re: Lee Power
Post by: Flashheart on Thursday, May 13, 2021, 08:39:12
So what are the potential outcomes from Monday? I’ve not followed the court proceedings closely enough.

In my layman observation:

The judge might lift the injunction on the sale, which would presumably go to ABEL unless the judge says otherwise.
It seems a judge can say Power has to sell to Axis (there is precedence); whether he does remains to be seen.

Another option is that nothing's decided and we end up waiting for yet another court appearance.


Title: Re: Lee Power
Post by: Pookemon on Thursday, May 13, 2021, 09:39:47
In my layman observation:

The judge might lift the injunction on the sale, which would presumably go to ABEL unless the judge says otherwise.
It seems a judge can say Power has to sell to Axis (there is precedence); whether he does remains to be seen.

Another option is that nothing's decided and we end up waiting for yet another court appearance.

Exactly this - things may or may not get resolved.   

I suspect the following - but new spanners could be thrown!
Assuming the books have been opened to fully Axis, it then depends if Axis are ready and willing to make a formal offer for the club. 
 - If ready then judge will consider it (may need a bit of time to do this) and ask LP Power to provide reason as to why he won't accept it.   Probably the preferred option assuming Clem's intentions are mostly genuine (I'm trying to be positive!).
 - If not ready then we will see another hearing.
 - If not willing then there are a whole host of options - Abel, admin, Standing counter bid, time to find alternative, etc - could get messy and is probably the worst option due to the increased uncertainty.



Title: Re: Lee Power
Post by: The Grim Reaper on Thursday, May 13, 2021, 12:34:26
I’m sure Power wants out as much as we all want him out. On what basis can the judge force Power to sell to Axis if the Axis offer is equal or no better than the Abel one?


Title: Re: Lee Power
Post by: Crackity Jones on Thursday, May 13, 2021, 12:43:51
Didn't the judge say that the deal had to be in the best interests of STFC and not Lee Power and if that didn't appear  to be the case then he would decide


Title: Re: Lee Power
Post by: pauld on Thursday, May 13, 2021, 12:48:24
I’m sure Power wants out as much as we all want him out. On what basis can the judge force Power to sell to Axis if the Axis offer is equal or no better than the Abel one?
Previous cases around this area have focused on whether one option over another would unduly damage one or more of the shareholders' interests


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Thursday, May 13, 2021, 12:51:47
He can’t sell to Abel for £1 as it would adversely effect both Clem and Standing. If he sells to Able for a relatively reasonable amount then that would have to be divided as per the shareholding.

This is why he wants the injunction lifted so he can put the club into admin. He would become a preferential creditor through Seebeck and Swinton Reds and get more than he would otherwise from a straightforward sale.

I presume we are not (yet) trading insolvently as that is illegal and the judge would have made a different decision a couple of weeks ago.

Think I’ve got that right.


Title: Re: Lee Power
Post by: Flashheart on Thursday, May 13, 2021, 13:12:31
The judge said we are insolvent.

He used the words 'ridiculously insolvent', or something along the lines.


Title: Lee Power
Post by: Batch on Thursday, May 13, 2021, 13:14:14
https://www.swindonadvertiser.co.uk/news/19244300.swindon-town-ownership-wrangle-back-high-court


Thornley described the club as “hopelessly insolvent” and said a court order placing the club into administration could be appropriate if a sale could not take place quickly.


Title: Re: Lee Power
Post by: Flashheart on Thursday, May 13, 2021, 13:22:05
https://www.swindonadvertiser.co.uk/news/19244300.swindon-town-ownership-wrangle-back-high-court


Thornley described the club as “hopelessly insolvent” and said a court order placing the club into administration could be appropriate if a sale could not take place quickly.

You'd hope that won't be a problem if Clem has the money ready to go. (or if Abel's offer is deemed acceptable).


Title: Re: Lee Power
Post by: horlock07 on Thursday, May 13, 2021, 13:29:25
He can’t sell to Abel for £1 as it would adversely effect both Clem and Standing. If he sells to Able for a relatively reasonable amount then that would have to be divided as per the shareholding.

This is why he wants the injunction lifted so he can put the club into admin. He would become a preferential creditor through Seebeck and Swinton Reds and get more than he would otherwise from a straightforward sale.

I presume we are not (yet) trading insolvently as that is illegal and the judge would have made a different decision a couple of weeks ago.

Think I’ve got that right.

There is also the Capital Gains Tax issue which led to things all kicking off with Clem....


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Thursday, May 13, 2021, 13:38:47
Can’t say I know the ins and outs of CGT. Does he mean on the £1.1m he got from Clem?


Title: Lee Power
Post by: Batch on Thursday, May 13, 2021, 13:39:36
You'd hope that won't be a problem if Clem has the money ready to go. (or if Abel's offer is deemed acceptable).

You'd hope not, assuming he still wants to bid after seeing the books


Title: Re: Lee Power
Post by: Power to people on Thursday, May 13, 2021, 14:01:58
So assuming Clem's Axis offer is accepted, it could still take a couple of weeks for things to go through as surely proof of funds need to be shown, contracts need to be drawn up agreed and signed.

New CEO appointed

FA / FL need to approve sale & new ownership structure

New manager needs to be appointed as well as backroom team so he can decide on retained list and decide on some sort of pre-season

Nobody knows if there is still a fitness coach, what the lease is for beaversbrook for training facilities

FL loan(s) needs to be paid back to enable us to sign any new players

Assume also a restructuring of the youth setup with the sad passing of Alan Mac will need to be done

If Able's bid is accepted then this will take longer as they are not cleared by FA / FL

Then there is the matter of how the sale funds are split between Power & Standing (assume judge will order for funds to be placed with a solicitor until court case is over)

I just cant see Power making this easy, just waiting for something else to crop up

And what bearing will this have on the FA charges against Power / Standing / Stfc



Title: Re: Lee Power
Post by: Crackity Jones on Thursday, May 13, 2021, 14:31:49
I don't know why but I don't think it's going to be as straightforward as a sale to Axis or Able (if they exist) or a.n.other. Maybe I am just naturally pessimistic and paranoid. That's what supporting this club does to you


Title: Re: Lee Power
Post by: Munichred on Thursday, May 13, 2021, 14:40:23
Exactly this - things may or may not get resolved.  

I suspect the following - but new spanners could be thrown!
Assuming the books have been opened to fully Axis, it then depends if Axis are ready and willing to make a formal offer for the club.  
 



I see what you did there.  Maybe the other interested party is ready and willing...


Title: Re: Lee Power
Post by: Red Frog on Thursday, May 13, 2021, 14:53:35
I don't know if this has been mentioned on here, but I was speculating last night whether the Fowler thing could possibly involve him investing, or being part of a bid to buy Power out, what with his interest in property.


Title: Re: Lee Power
Post by: chalkies shorts on Thursday, May 13, 2021, 15:31:31
As we're virtually starting from scratch next season, I think we need an experienced head alongside a manager / coach maybe a director of football (not that cunt Sherwood) so as the manager can concentrate on the playing side. An inexperienced manager in their first role would really have their work cut out picking up all the different strands. Whats Paul Trollope doing nowadays.


Title: Re: Lee Power
Post by: Panda Paws on Thursday, May 13, 2021, 15:56:36
As we're virtually starting from scratch next season, I think we need an experienced head alongside a manager / coach maybe a director of football (not that cunt Sherwood) so as the manager can concentrate on the playing side. An inexperienced manager in their first role would really have their work cut out picking up all the different strands. Whats Paul Trollope doing nowadays.

I think if we're well-funded post takeover, you're dead right. A head of football operations alongside a proper EFL CEO and proper commercial director would be way more important for the long term than any managerial appointment.


Title: Re: Lee Power
Post by: horlock07 on Thursday, May 13, 2021, 16:20:06
I don't know if this has been mentioned on here, but I was speculating last night whether the Fowler thing could possibly involve him investing, or being part of a bid to buy Power out, what with his interest in property.

I am pretty sure his interest in property is small scale (in size not volume) rather beyond a football ground. I recall ages ago it was noted he owned a hell of a lot of residential property in the north west.


Title: Re: Lee Power
Post by: tj2002 on Thursday, May 13, 2021, 16:26:01
I am pretty sure his interest in property is small scale (in size not volume) rather beyond a football ground. I recall ages ago it was noted he owned a hell of a lot of residential property in the north west.

Hence the song, "We all live in a Robbie Fowler house" to the tune of Yellow Submarine sung by the scousers back in the day


Title: Re: Lee Power
Post by: flammableBen on Thursday, May 13, 2021, 16:30:53
There’s been references to Robbie Fowler to being a bit socialist, but apparently he’s a fucking landlord?


Title: Re: Lee Power
Post by: bamboonoclue on Thursday, May 13, 2021, 16:49:24
Interesting that all the (F)EINs for Able have invalid IDs - not even one is valid, adding further questioning of either their operations or more importantly their transparency in regards to taxation. It might be nothing...  :hmmm:

WILLIAM KERAVUORI - AC MERGER, INC. (Massachusetts (US) 28 Feb 2019-)
WILLIAM KERAVUORI - ABLE COMPANY, CORP. (Massachusetts (US) 28 Feb 2019-)
WILLIAM KERAVUORI - ABLE COMPANY LLC (Massachusetts (US) 23 May 2019-)
WILLIAM KERAVUORI - AC WIDETT DEVELOPER, LLC (Massach'tts (US) 14 Feb 2020-)
WILLIAM KERAVUORI - ABLE MANAGEMENT LLC (Massachusetts (US) 14 Feb 2020-)
WILLIAM KERAVUORI - ABLE COMPANY HOLDINGS LLC (Massach'tts (US) 14 May 2020-)
WILLIAM KERAVUORI - AC ACQUISITIONS LLC (Massachusetts (US) 1 Jul 2020-)

I'm sure there's a few more but these are all the active ones I could find and to me the above actions appear very red flag ish. Seemingly when the Able interest was coming about/possibly being set up (we found out in Oct 2019) in the space of just 16 months, 7 (seven) ABLE/AC companies were set up... :eek:

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

In other news I notice a certain Mr L M P has signed over significant control (75%+ shares) of one of his largest operations (Power Geneva LTD) to his son Jack just last month (6th April, added 21st).

Now just why would he transfer over one of his larger assets/operations? Wasn't there talk that he could '...incur a substantial CGT bill...' in another area of his business practices?! Looks like he's remedied some of that already with a nice bit of Hold Over Relief of shares to JP. Well it certainly looks like that has happened anyway.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Thursday, May 13, 2021, 17:02:16
He did the same at Waterford. Jack Power is now the General Manager.

The specific Able business named in the last court proceedings, Able Company Swindon LLC aka Able Sports Wiltshire LLC has zero information about their existence.


Title: Re: Lee Power
Post by: horlock07 on Thursday, May 13, 2021, 17:04:29
I'm sure there's a few more but these are all the active ones I could find and to me the above actions appear very red flag ish. Seemingly when the Able interest was coming about/possibly being set up (we found out in Oct 2019) in the space of just 16 months, 7 (seven) ABLE/AC companies were set up... :eek:


TBH I wouldn't read too much into it, if they are in property development its entirely par for the course to divide projects etc up into various shell companies so x doesn't bring y down if it fails.


Title: Re: Lee Power
Post by: bamboonoclue on Thursday, May 13, 2021, 19:18:42

The specific Able business named in the last court proceedings, Able Company Swindon LLC aka Able Sports Wiltshire LLC has zero information about their existence.

Yeah they were the first two I looked at and officially zero joy on those  :hmmm:

Referring the others as Horlock says...

TBH I wouldn't read too much into it, if they are in property development its entirely par for the course to divide projects etc up into various shell companies so x doesn't bring y down if it fails.

That does of course make sense, thanks. In some ways my query was more the timeframe and how it sits with their supposed involvement with Mr Power. Setting up several entities in preparation to take over STFC? Especially with the names (I know they mean nothing largely) "merger" and "acquisitions" , the latter being the most recent one too.

I get what you're saying though but the invalid FEIN/EIN on all of them seems a bit odd. Maybe that means very little too but I expected at least one to come through as my understanding is that it's a requirement for businesses to have one for taxation purposes. Does this mean all these companies whilst active are just dormant possibly? Essentially awaiting to be used if needed or if not, subsequently dissolved?


Title: Re: Lee Power
Post by: Legends-Lounge on Thursday, May 13, 2021, 20:17:47
Yeah they were the first two I looked at and officially zero joy on those  :hmmm:

Referring the others as Horlock says...

That does of course make sense, thanks. In some ways my query was more the timeframe and how it sits with their supposed involvement with Mr Power. Setting up several entities in preparation to take over STFC? Especially with the names (I know they mean nothing largely) "merger" and "acquisitions" , the latter being the most recent one too.

I get what you're saying though but the invalid FEIN/EIN on all of them seems a bit odd. Maybe that means very little too but I expected at least one to come through as my understanding is that it's a requirement for businesses to have one for taxation purposes. Does this mean all these companies whilst active are just dormant possibly? Essentially awaiting to be used if needed or if not, subsequently dissolved?


Used to divvy up the ill gotten gains when the ink has dried on all the paperwork.


Title: Re: Lee Power
Post by: ron dodgers on Thursday, May 13, 2021, 22:01:51
are they all companies in Massachusetts?
Maybe all the lights went out?


Title: Re: Lee Power
Post by: bamboonoclue on Thursday, May 13, 2021, 22:47:53
are they all companies in Massachusetts?
Maybe all the lights went out?

It was reported there was a rather large and sluggish Power out(age).


Title: Re: Lee Power
Post by: Bob's Orange on Friday, May 14, 2021, 09:02:18
are they all companies in Massachusetts?
Maybe all the lights went out?

I sense you have more than a feeling about that one?


Title: Re: Lee Power
Post by: Benzel on Friday, May 14, 2021, 10:34:01
Heard Marc Bircham on Talksport yesterday talking about becoming new Waterford boss and seems to be under the impression he'll be getting good backing this season. Not sure if that's just PR or if he's fallen for Power's bs.

Sent from my CLT-L09


Title: Re: Lee Power
Post by: Wobbly Bob on Friday, May 14, 2021, 10:56:43
Waterford bottom after 10 games.

I'm guessing that their fans aren't happy with the owner.


Title: Re: Lee Power
Post by: Leggett on Friday, May 14, 2021, 11:18:02
Waterford bottom after 10 games.

I'm guessing that their fans aren't happy with the owner.

The hate Power possibly more than we do.


Title: Re: Lee Power
Post by: Flashheart on Friday, May 14, 2021, 11:20:18
A friend of mine lives just outside Waterford.

Apparently, a delivery guy spotted her STFC shirt and they got talking. It seems going by that chat that Power is really not a popular chappy.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Friday, May 14, 2021, 11:51:59
The hate Power possibly more than we do.
I doubt that. He’s one of their own! Plenty of Power family live in Waterford.


Title: Re: Lee Power
Post by: Legends-Lounge on Friday, May 14, 2021, 12:04:43
A friend of mine lives just outside Waterford.

Apparently, a delivery guy spotted her STFC shirt and they got talking. It seems going by that chat that Power is really not a popular chappy.

Brave lady.


Title: Re: Lee Power
Post by: TheDukeOfBanbury on Friday, May 14, 2021, 12:26:41
So assuming Clem's Axis offer is accepted, it could still take a couple of weeks for things to go through as surely proof of funds need to be shown, contracts need to be drawn up agreed and signed.

New CEO appointed

FA / FL need to approve sale & new ownership structure

New manager needs to be appointed as well as backroom team so he can decide on retained list and decide on some sort of pre-season

Nobody knows if there is still a fitness coach, what the lease is for beaversbrook for training facilities

FL loan(s) needs to be paid back to enable us to sign any new players

Assume also a restructuring of the youth setup with the sad passing of Alan Mac will need to be done

If Able's bid is accepted then this will take longer as they are not cleared by FA / FL

Then there is the matter of how the sale funds are split between Power & Standing (assume judge will order for funds to be placed with a solicitor until court case is over)

I just cant see Power making this easy, just waiting for something else to crop up

And what bearing will this have on the FA charges against Power / Standing / Stfc



Maybe proof of funds have already been presented ;)


Title: Re: Lee Power
Post by: hefty toe on Friday, May 14, 2021, 18:56:52
If Clem takes over I wonder whether Fowler might have an ownership stake. Forgot that he is reportedly worth c.£40m.


Title: Re: Lee Power
Post by: Panda Paws on Friday, May 14, 2021, 20:09:02
There is nothing to suggest any link between Clem and Fowler. Power is still calling the shots as far as anyone knows.


Title: Re: Lee Power
Post by: The Grim Reaper on Friday, May 14, 2021, 22:17:38
There is nothing to suggest any link between Clem and Fowler. Power is still calling the shots as far as anyone knows.

Agreed. Although I’m led to believe that all club running costs are being met by Clem and Standing at present. Hopefully Monday possibly Tuesday we get the news we’ve all been waiting for, a certain someone is playing hardball apparently so may end up being a court decision.


Title: Re: Lee Power
Post by: Jimmy Quinn on Friday, May 14, 2021, 22:36:10
How do you know as all we hear are possible maybes from various posters


Title: Re: Lee Power
Post by: tans on Saturday, May 15, 2021, 00:46:16
Anyone know how to get a link to watch proceedings?


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Saturday, May 15, 2021, 06:48:43
This



Title: Re: Lee Power
Post by: ThreeDrawsMentality on Saturday, May 15, 2021, 07:06:20
After the fiasco earlier this year I hope to god they've finally worked out how to mute people  :D


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Saturday, May 15, 2021, 07:09:18
I just hope whatever the outcome it’s definitive.


Title: Re: Lee Power
Post by: Nomoreheroes on Saturday, May 15, 2021, 08:15:37
After the fiasco earlier this year I hope to god they've finally worked out how to mute people  :D
On a serious point, I hope that noone interrupts it and has it delayed yet further. It needs to be resolved - but only one way!


Title: Re: Lee Power
Post by: ThreeDrawsMentality on Saturday, May 15, 2021, 08:25:54
On a serious point, I hope that noone interrupts it and has it delayed yet further. It needs to be resolved - but only one way!
Same here! Just want it to go as smooth as possible.


Title: Re: Lee Power
Post by: TheDukeOfBanbury on Saturday, May 15, 2021, 08:55:05
I just hope whatever the outcome it’s definitive.

That is the biggest fear, the other is whether the alternatives have positive intent and are better than the current owner. Can’t be any worse on this account and time for a change and a risk.

Down to the Court but feeling a little more positive.


Title: Re: Lee Power
Post by: Jimmy Quinn on Saturday, May 15, 2021, 09:20:14
It needs to happen soon as there's players to sign and a team to build😀


Title: Re: Lee Power
Post by: Batch on Saturday, May 15, 2021, 10:53:39
Quote from: tans
Anyone know how to get a link to watch proceedings?

can you pass it on if you find one


Title: Re: Lee Power
Post by: JBZ on Saturday, May 15, 2021, 11:09:36
I see that there is a directions hearing on Monday morning. If this is indeed a directions hearing, it's unlikely that the issues will be finally determined then.  Anyone ITK may be able (no pun) to add some gloss to this.


Title: Re: Lee Power
Post by: Legends-Lounge on Saturday, May 15, 2021, 11:18:08
Wait for a certain Cowley38 I have a feeling he may be able to cast his rune stones down to foretell of significant events.


Title: Re: Lee Power
Post by: Batch on Saturday, May 15, 2021, 11:24:55
Quote from: JBZ
I see that there is a directions hearing on Monday morning. If this is indeed a directions hearing, it's unlikely that the issues will be finally determined then.  .

so what is the normal outcome of a directive hearing?


Title: Re: Lee Power
Post by: JBZ on Saturday, May 15, 2021, 11:36:09
so what is the normal outcome of a directive hearing?

Directions hearings involve the court saying the parties have to do X, y and z before there is a trial or final hearing. This may have been called a directions hearing on Monday's list but is something else.  I don't think I saw a time estimate which would help shed some light on this.

I have seen the various posts on the forum etc which indicate that LP has applied to vary the injunction which prevents him from reducing his shareholding etc before Standing's trial is heard is a number of months' time. Also, I understand that LP had to disclose certain information/documents to Standing and/or third parties. 

Not being ITK, I don't know whether the judge is going to determine the application on Monday or whether they will order that other hoops have to be jumped through before he can do so.



Title: Re: Lee Power
Post by: Batch on Saturday, May 15, 2021, 12:27:52
thanks


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Saturday, May 15, 2021, 12:33:25
So, if you’ve got MS Teams can you log into the hearing?


Title: Re: Lee Power
Post by: Flashheart on Saturday, May 15, 2021, 13:33:33
Something on my mind about admin...

In order for admin to be accepted, the club would have to be able to demonstrate it cannot pay its debts. But would a valid (assuming it is valid) takeover bid mean the club can indeed pay it's debts?


Title: Lee Power
Post by: Batch on Saturday, May 15, 2021, 13:36:55
Quote
Something on my mind about admin...

In order for admin to be accepted, the club would have to be able to demonstrate it cannot pay its debts. But would a valid (assuming it is valid) takeover bid mean the club can indeed pay it's debts?
I thought there were rules stating just that - a viable takeover offer meant a company could not be put in administration in preference.

buggered if I can find where I read that

But I bet it gets messier than that. e.g. if the debts are massive administration may be the only route to get a sale and keep us going


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Saturday, May 15, 2021, 13:43:56
The position Derby are in. 3 failed takeover bids. Debts of £60m. Why would any new owner take that on when admin would wipe them out - at least, non football creditor debts.

Wigan got put in Admin this season when viable as a business, didn’t get docked points because of that.

Actually, not sure of that last bit. All got fuzzy with what went on.


Title: Re: Lee Power
Post by: singingiiiffy on Saturday, May 15, 2021, 14:40:41
If Clem takes over I wonder whether Fowler might have an ownership stake. Forgot that he is reportedly worth c.£40m.

wonder where he would rank in the richest manager stakes!


Title: Re: Lee Power
Post by: Pookemon on Saturday, May 15, 2021, 15:57:48
In order for admin to be accepted, the club would have to be able to demonstrate it cannot pay its debts. But would a valid (assuming it is valid) takeover bid mean the club can indeed pay it's debts?

It's not in Power's, Standing's or Morfuni's interest for the club to go into admin, as they are almost certainly, by far and away the main creditors, so I can't see it happening.

Admin would usually happen prior to a takeover to clear the deck for a new owner.   


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Sunday, May 16, 2021, 14:23:43
Are the FA likely to be waiting to see the outcome of the court case before revealing their sanctions? If the court case drags on, what happens if the FA decide to ban Power whilst he’s still owner?


Title: Re: Lee Power
Post by: pauld on Sunday, May 16, 2021, 14:34:27
The position Derby are in. 3 failed takeover bids. Debts of £60m. Why would any new owner take that on when admin would wipe them out - at least, non football creditor debts.

Wigan got put in Admin this season when viable as a business, didn’t get docked points because of that.

Actually, not sure of that last bit. All got fuzzy with what went on.
You're right to not be sure, they went into administration last season and were docked points last season which is why they went down despite a remarkable run of form at the end of the season

https://www.bbc.co.uk/sport/football/53649840.amp


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Sunday, May 16, 2021, 16:54:18
so what is the normal outcome of a directive hearing?
‘It will provide key dates by which you and the defendant must complete certain tasks by. These directions will be set out by a judge in a court order and will provide details of all the steps that the judge believes are necessary to progress your case to trial.’

Didn’t the judge at the previous hearing tell them to sort it by middle of May?


Title: Re: Lee Power
Post by: Legends-Lounge on Monday, May 17, 2021, 07:39:29
Well this week could be very interesting. Keep your eyes and ears pealed and your devices tuned in.


Title: Re: Lee Power
Post by: Shrivvy Road on Monday, May 17, 2021, 07:54:01
Sorry if i missed it but did anyone have a link for the case today?


Title: Re: Lee Power
Post by: Batch on Monday, May 17, 2021, 08:37:48
Sorry if i missed it but did anyone have a link for the case today?

^^ what he said ^^^


Title: Re: Lee Power
Post by: kaufman on Monday, May 17, 2021, 08:39:17
https://truststfc.tv/ownership-court-case-a-statement-from-the-board-of-truststfc/

The Trust are asking fans not to sign into meeting.


Title: Re: Lee Power
Post by: JanAirplaneMan on Monday, May 17, 2021, 08:40:40
Sorry if i missed it but did anyone have a link for the case today?
Hi there, the Trust will be attending the event today and will update fans post the case and also on the Supporter Club Monday night panel at 7pm on Facebook too.. Please see article here: https://truststfc.tv/ownership-court-case-a-statement-from-the-board-of-truststfc/
We are trying to encourage fans not to attend the event as unfortunately in the past disruptions and many fans attending have caused issues and it is likely if this occurs again then the case will be halted and re-arranged and none of us want that as we need a conclusion asap.


Title: Re: Lee Power
Post by: jayohaitchenn on Monday, May 17, 2021, 08:41:38
https://truststfc.tv/ownership-court-case-a-statement-from-the-board-of-truststfc/

The Trust are asking fans not to sign into meeting.


What's the fucking point in that? Those that would attend and behave properly now likely won't and all the prats will jut ignore the advice.


Title: Re: Lee Power
Post by: Batch on Monday, May 17, 2021, 08:57:29
What's the fucking point in that? Those that would attend and behave properly now likely won't and all the prats will jut ignore the advice.

I guess Town fans are most likely to fall foul of the  bit about 'not discussing online it until its concluded'

That said, we're not children.


Title: Re: Lee Power
Post by: Costanza on Monday, May 17, 2021, 08:58:44
That said, we're not children.

Some of us are 6ft5.


Title: Re: Lee Power
Post by: Batch on Monday, May 17, 2021, 09:00:43
Some of us are 6ft5.

Exactly:)


Title: Re: Lee Power
Post by: Bob's Orange on Monday, May 17, 2021, 09:09:47
I guess Town fans are most likely to fall foul of the  bit about 'not discussing online it until its concluded'

That said, we're not children.

Unfortunately, a reasonable number of football supporters seem to act like they are children most of the time.


Title: Re: Lee Power
Post by: Bob's Orange on Monday, May 17, 2021, 09:10:37
What time is the hearing and will there be a NMH style reporting on it here (the secret place), is that allowed?


Title: Lee Power
Post by: Batch on Monday, May 17, 2021, 09:19:25
Quote
What time is the hearing and will there be a NMH style reporting on it here (the secret place), is that allowed?
I think the best report will be the Official Supporters Club  "monday night panel" with some of the trust committe - on facebook at 7pm. Plus whatever the Trust releases online too.

Quote
TOMORROW EVENING

Monday Night Panel Special!

Following tomorrows court case Vic Morgan will be joined by @TrustSTFC Committee members Alex Pollock, James Spencer and Stuart Woollard to discuss the days events and what it may mean for #STFC.

🕖19:00 👉www.facebook.com/STFCSupClub


Title: Re: Lee Power
Post by: Bob's Orange on Monday, May 17, 2021, 09:27:05
I think the best report will be the Official Supporters Club  "monday night panel" with some of the trust committe - on facebook at 7pm. Plus whatever the Trust releases online too.


Thanks - but the hearing is much earlier that that isn't it?


Title: Re: Lee Power
Post by: Batch on Monday, May 17, 2021, 09:29:17
it starts at 10:30.

when it finishes is anyone's guess. I suppose they have a set time to conclude by adjurn?

 Anyone?

I hope the adver will be on it quickly enough, in sure the trust may be too


Title: Re: Lee Power
Post by: tans on Monday, May 17, 2021, 09:35:35
I doubt it will be sorted today unless all parties have kissed and made up


Title: Re: Lee Power
Post by: Nemo on Monday, May 17, 2021, 09:35:54
What's the fucking point in that? Those that would attend and behave properly now likely won't and all the prats will jut ignore the advice.

I think the unspoken main point is "if you do ask for a link, do it quietly and don't post in on Twitter for anyone to click on ffs"


Title: Re: Lee Power
Post by: Panda Paws on Monday, May 17, 2021, 09:36:43
Thanks - but the hearing is much earlier that that isn't it?

You can't report until it's concluded.


Title: Re: Lee Power
Post by: Bob's Orange on Monday, May 17, 2021, 09:40:43
You can't report until it's concluded.

So basically the NMH style updates on a forum, or twitter etc are forbidden?


Title: Re: Lee Power
Post by: Panda Paws on Monday, May 17, 2021, 09:42:16
So basically the NMH style updates on a forum, or twitter etc are forbidden?

That's my understanding, but I may be wrong.


Title: Re: Lee Power
Post by: Flashheart on Monday, May 17, 2021, 09:46:41
A bit off to ask people not to watch. Seems they've missed the point.

Ah, well. I think I'll be too buy to watch regardless.


Title: Re: Lee Power
Post by: Bob's Orange on Monday, May 17, 2021, 09:48:36
That's my understanding, but I may be wrong.

No worries, looks that way from the Trust wording, just wanted to be completely sure, as I have a quiet morning at work and would quite like to watch. Can you get Teams on your phone for nada or is it something you have to pay for?


Title: Re: Lee Power
Post by: Batch on Monday, May 17, 2021, 09:52:28
it's free, but I think it starts at 10 (not 10:30, so may be too late to register).

living myself for forgetting to do so


Title: Re: Lee Power
Post by: Bob's Orange on Monday, May 17, 2021, 09:56:04
Was there a link? Probably missed it now anyway.


Title: Re: Lee Power
Post by: Batch on Monday, May 17, 2021, 09:56:56
Quote from: Bob's Orange
Was there a link? Probably missed it now anyway.

you needed to register via email for it


Title: Re: Lee Power
Post by: Bob's Orange on Monday, May 17, 2021, 09:59:54
you needed to register via email for it

Ah ok - show's how 'on the ball' I am!!

Cheers. Will just wait and see I guess.


Title: Re: Lee Power
Post by: JBZ on Monday, May 17, 2021, 10:08:14
Some of the analysis provided by the trust has been somewhat lightweight. I will be interested to read the latest offerings.


Title: Re: Lee Power
Post by: Robinz on Monday, May 17, 2021, 11:49:31

The word insolvency is being thrown around a lot and is making me a bit uneasy. Seems as if the court may intervene to force a sale if it needs too

Where have your heard "insolvency" from here it has been mentioned that either Able or the Aussie builder will be purchasing ?


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, May 17, 2021, 11:51:26
There’s a court hearing going on right now


Title: Re: Lee Power
Post by: Shrivvy Road on Monday, May 17, 2021, 11:51:32
The word insolvency is being thrown around a lot and is making me a bit uneasy. Seems as if the court may intervene to force a sale if it needs too

Where have your heard "insolvency" from here it has been mentioned that either Able or the Aussie builder will be purchasing ?
Are you listening to the court case


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, May 17, 2021, 11:52:50
Getting the feeling it’s goung to go one way or the other today.

Hang on to your orange hats.


Title: Re: Lee Power
Post by: Robinz on Monday, May 17, 2021, 11:53:44
No... Where am I able to hear this


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, May 17, 2021, 11:54:09
Too late now


Title: Re: Lee Power
Post by: Robinz on Monday, May 17, 2021, 11:55:45
Has anyone any news ?


Title: Re: Lee Power
Post by: Tails on Monday, May 17, 2021, 11:57:05
It was pointed out it may not be smart to do that. A lot of it is going over my head anyway!


Title: Re: Lee Power
Post by: Peter Venkman on Monday, May 17, 2021, 11:59:46
Its very interesting proceedings so far, but as stated nothing can be reported until it is over.


Title: Re: Lee Power
Post by: china red on Monday, May 17, 2021, 12:00:30
In a positive sense?


Title: Re: Lee Power
Post by: Robinz on Monday, May 17, 2021, 12:00:44
Is Morfuni / Standing showing serious interest in taking their offer if any  further ?


Title: Re: Lee Power
Post by: horlock07 on Monday, May 17, 2021, 12:01:58
Isn't this what the Lounge is for....


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, May 17, 2021, 12:03:02
Under the heading ‘Tea and biscuits’


Title: Re: Lee Power
Post by: Robinz on Monday, May 17, 2021, 12:03:40
Its 11.05pm Monday night here
Why am I still waiting up like a 15 year old teenager


Title: Re: Lee Power
Post by: Bob's Orange on Monday, May 17, 2021, 12:04:25
I think it's probably best to keep information to a very minimum until after the hearing. No point in negatively affecting proceedings, even if its with innocuous innocent chat.


Title: Re: Lee Power
Post by: theakston2k on Monday, May 17, 2021, 12:04:46
Is Morfuni / Standing showing serious interest in taking their offer if any  further ?
You realise nothing can be said until the hearing has concluded right?!


Title: Re: Lee Power
Post by: Tails on Monday, May 17, 2021, 12:06:49
I would go to bed mate. You won't hear anything for a while


Title: Re: Lee Power
Post by: Robinz on Monday, May 17, 2021, 12:06:58
No
Was not aware of this situation


Title: Re: Lee Power
Post by: Legends-Lounge on Monday, May 17, 2021, 12:08:01
Isn't this what the Lounge is for....

You can leave me out of this thank you very much 😁


Title: Re: Lee Power
Post by: Robinz on Monday, May 17, 2021, 12:08:29
Thanks for advice and good luck and good night to all


Title: Re: Lee Power
Post by: horlock07 on Monday, May 17, 2021, 12:09:16
On a slight tangent, I wonder why journo's can live tweet murder trials yet not this?


Title: Re: Lee Power
Post by: Flashheart on Monday, May 17, 2021, 12:11:37
On a slight tangent, I wonder why journo's can live tweet murder trials yet not this?

It doesn't make sense. I reckon somebody has misunderstood something somewhere.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, May 17, 2021, 12:12:32
Why not just ban any method of listening in.


Title: Re: Lee Power
Post by: horlock07 on Monday, May 17, 2021, 12:13:27
It doesn't make sense. I reckon somebody has misunderstood something somewhere.


My only thought is possibly something to do with commercial confidentiality albeit its not like the club is a PLC....


Title: Re: Lee Power
Post by: Nemo on Monday, May 17, 2021, 12:15:40
I wonder if it's more that you can report facts from a trial, but nobody involved (rightly) trusts a bunch of Town fans not to editorialise and say e.g. "Party X says they're above board, the lying bastards" which then is contempt?

Court reporting is a fairly specialised profession, after all.


Title: Re: Lee Power
Post by: Flashheart on Monday, May 17, 2021, 12:17:52
Maybe our resident legal expert can enlighten us...


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, May 17, 2021, 12:19:03
Maybe our resident legal expert can enlighten us...
‘We’re all doomed’

‘Hello non league’


Title: Re: Lee Power
Post by: Robinz on Monday, May 17, 2021, 12:19:24
What if they are all a set of lying barstards... is that not telling the truth  :)

Finally good night and take care


Title: Re: Lee Power
Post by: horlock07 on Monday, May 17, 2021, 12:22:51
One question which perhaps those listening can answer is whether it looks like any sort of substantive conclusion is likely to be reached today, my understanding is that a Directions Hearing is mainly a procedural thing to report progress and not really the place where anything will be settled?


Title: Re: Lee Power
Post by: Bob's Orange on Monday, May 17, 2021, 12:23:35
Maybe our resident legal expert can enlighten us...

He's/she's almost certainly too busy giving helpful consumer advice at the moment, something along the lines of 'you should probably cut off the skin and remove the stalk before eating' when someone asks where the cheapest place to buy pinapples are.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, May 17, 2021, 12:24:37
One question which perhaps those listening can answer is whether it looks like any sort of substantive conclusion is likely to be reached today, my understanding is that a Directions Hearing is mainly a procedural thing to report progress and not really the place where anything will be settled?
Didn’t the previous hearing tell the parties to sort it out by now


Title: Re: Lee Power
Post by: JBZ on Monday, May 17, 2021, 12:32:16
Maybe our resident legal expert can enlighten us...

He or she may reply separately.  I think you need the permission of the court as a member of the public to report by text/Twitter. The press etc don't have to seek permission.


Title: Re: Lee Power
Post by: JBZ on Monday, May 17, 2021, 12:42:30
One question which perhaps those listening can answer is whether it looks like any sort of substantive conclusion is likely to be reached today, my understanding is that a Directions Hearing is mainly a procedural thing to report progress and not really the place where anything will be settled?

Yeah, I commented on that above.  No doubt the trust will enlighten us.


Title: Re: Lee Power
Post by: Power to people on Monday, May 17, 2021, 12:50:52
When your constantly refreshing twitter / TEF instead of concentrating on work....priorities


Title: Re: Lee Power
Post by: Peter Venkman on Monday, May 17, 2021, 13:03:49
One question which perhaps those listening can answer is whether it looks like any sort of substantive conclusion is likely to be reached today, my understanding is that a Directions Hearing is mainly a procedural thing to report progress and not really the place where anything will be settled?
Without saying too much, it is not going to be sorted one way or the other today for certain.


Title: Re: Lee Power
Post by: horlock07 on Monday, May 17, 2021, 13:15:11
Without saying too much, it is not going to be sorted one way or the other today for certain.

I suspected as much, thus why I was taking suggestions that there would be good news this week with a massive pinch of salt.

We shall see......


Title: Re: Lee Power
Post by: bamboonoclue on Monday, May 17, 2021, 13:19:28

That said, we're not children.

Correct. We "...are grown men!!"

Tommy Wrong squealing, sometime during a post match slating - after his boss bottled another interview.


Title: Re: Lee Power
Post by: JBZ on Monday, May 17, 2021, 14:40:02
The trust could have managed expectations by explaining that today wasn't going to see a seismic shift in the STFC universe.


Title: Re: Lee Power
Post by: Panda Paws on Monday, May 17, 2021, 14:47:07
The trust could have managed expectations by explaining that today wasn't going to see a seismic shift in the STFC universe.

I've not seen suggestions beyond individual fans on social media that it was going to be?


Title: Re: Lee Power
Post by: Peter Venkman on Monday, May 17, 2021, 14:54:37
And brings a close to the case for today.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, May 17, 2021, 14:56:39
And brings a close to the case for today.
Any timescale set for the next and, hopefully, final hearing?


Title: Lee Power
Post by: Batch on Monday, May 17, 2021, 14:57:18
without the a resolution fans were hoping for.

just my take:


I'm fact, in summary it's kicked the can/moved the process  on but we are still in limbo

June 15th pencilled in for next hearing.
Trying to expedite to September for full trial.

Unless Power sells to Axis/Able with  Axis permission. Or on 15th  Powers legal convinces the judge the wording of the terms of sales of shares to Clem shouldn't prevent Power from selling unilaterally


Title: Re: Lee Power
Post by: Flashheart on Monday, May 17, 2021, 14:58:57
Any timescale set for the next and, hopefully, final hearing?

The next hearing - 14th/15th June.

Final hearing - September.

Although the judge did make it quite clear at the end that power could choose to sell to AXIS in the meantime if he doesn't want to keep on funding the club for another 3 months.


Title: Re: Lee Power
Post by: ThreeDrawsMentality on Monday, May 17, 2021, 15:01:06
The next hearing - 14th/15th June.

Final hearing - September.

Although the judge did make it quite clear at the end that power could choose to sell to AXIS in the meantime if he doesn't want to keep on funding the club for another 3 months.
And there was an off hand comment from the judge earlier in the morning that if Power felt confident of winning September's full trial, he could get Able to fund the club until the outcome of the trial allowed them to buy the club in full. Which makes me wonder if that's why Power is all of a sudden happy to keep funding the club till full trial completes...


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, May 17, 2021, 15:06:06
What a ginormous crock of shit. Maybe the FA conclusion will kick Power out so he has to sell.


Title: Re: Lee Power
Post by: tans on Monday, May 17, 2021, 15:06:35
Hows he funding it? He literally said he couldnt afford to?

Just stop fucking around and sell the fucking club ffs


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, May 17, 2021, 15:09:03
I thought the previous judge told Clem/Standing to fund the club. Has this one told Power to fund it?

What if no fucker wants to fund it? How can we stumble along until September with no manager, no recruitment, no owner?


Title: Re: Lee Power
Post by: ThreeDrawsMentality on Monday, May 17, 2021, 15:13:18
If my vague understanding is right...Power is allowed to sell between now and full trial under pre emption rights, but I'm not sure what sale possibilities that brings though other than a sale to Axis.


Title: Re: Lee Power
Post by: tans on Monday, May 17, 2021, 15:14:19
I thought the previous judge told Clem/Standing to fund the club. Has this one told Power to fund it?

What if no fucker wants to fund it? How can we stumble along until September with no manager, no recruitment, no owner?

Power wanted them to stump up 600k a month now didnt he?


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, May 17, 2021, 15:14:55
So, what’s the June hearing going to solve that this one hasn’t - and the one previous to that.


Title: Re: Lee Power
Post by: stfcjack on Monday, May 17, 2021, 15:16:41
Ffs with this seemingly not looking like it’s going to be resolved anytime soon I really fear for next season now.


Title: Re: Lee Power
Post by: JoeMezz on Monday, May 17, 2021, 15:17:15
Absolute disaster for next season (and beyond). We are absolutely fucked


Title: Re: Lee Power
Post by: Tails on Monday, May 17, 2021, 15:21:09
What a ginormous crock of shit. Maybe the FA conclusion will kick Power out so he has to sell.

Even then he'd be allowed to appeal. Would probably make the current situation worse to be honest.


Title: Re: Lee Power
Post by: Nemo on Monday, May 17, 2021, 15:22:51
I do understand that the courts have plenty on and that legal stuff takes time, but the timeline of the court and the timeline of operating a football club appear to be fundamentally incompatible here. Who funds the club is one thing, but who makes decisions that will affect the club in the medium to long term is surely an even larger one?


Title: Re: Lee Power
Post by: Tails on Monday, May 17, 2021, 15:25:07
I do understand that the courts have plenty on and that legal stuff takes time, but the timeline of the court and the timeline of operating a football club appear to be fundamentally incompatible here. Who funds the club is one thing, but who makes decisions that will affect the club in the medium to long term is surely an even larger one?

I didn't fully grasp who is actually funding the club. Until he sells though Power is still in charge so any management / player choices will be his I suppose.


Title: Re: Lee Power
Post by: theakston2k on Monday, May 17, 2021, 15:25:16
I do understand that the courts have plenty on and that legal stuff takes time, but the timeline of the court and the timeline of operating a football club appear to be fundamentally incompatible here. Who funds the club is one thing, but who makes decisions that will affect the club in the medium to long term is surely an even larger one?
Being a football club is irrelevant to the courts though, this a bog standard business case to them.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, May 17, 2021, 15:26:10
So, if Clem/Standing say bollocks to continue funding the club but don’t give up on the ownership wrangle, and Power says he can’t fund it, Admin seems the only answer - just what Power wants.


Title: Re: Lee Power
Post by: stfcjack on Monday, May 17, 2021, 15:26:34
I’m so fucked off


Title: Re: Lee Power
Post by: Nemo on Monday, May 17, 2021, 15:28:25
Being a football club is irrelevant to the courts though, this a bog standard business case to them.

Sure, but in an ownership dispute you'd expect some kind of limitations on the actions that the party running the business could take whilst awaiting trial which would affect the future value of the business? Even if we were a furniture shop, you'd hope the current owner would be expected not to commit the firm to a 100-year lease for a building we'll call at random Taylor Curran House before the trial concluded?

Eh, I'm going to try and tune out of all this for a while. It's not good for anyone, there's shit all we can do about it (with the possible and limited exception of the Trust). Roll on the Euros.


Title: Re: Lee Power
Post by: Batch on Monday, May 17, 2021, 15:33:02
Quote from: The Artist Formerly Known as Audrey
So, what’s the June hearing going to solve that this one hasn’t - and the one previous to that.

it gives an opportunity to force a sale if power is putting the club on course for ruin.

I don't think that's likely

it will set full trial date.

he gave a list of 5 or 6 things but I didn't write them down properly... sorry


Title: Re: Lee Power
Post by: horlock07 on Monday, May 17, 2021, 15:36:50
it gives an opportunity to force a sale if power is putting the club on course for ruin.

I don't think that's likely

it will set full trial date.

he gave a list of 5 or 6 things but I didn't write them down properly... sorry

I assume it will just be another directions hearing so an update on any progress made plus to set out what needs to be provided/exchanged before the full hearing. I know its no use to us but this is actually going quite quickly for our creaking and grossly underfunded courts.

Sadly things have been allowed to get to the stage where people thought there would be an outcome today, its got time to run yet.

For those who sat through it, did it appear any progress was actually being made between the parties in terms of sorting it between themselves?


Title: Lee Power
Post by: Batch on Monday, May 17, 2021, 15:41:00
nope. I missed a fair amount but didn't detect a resolution was coming

I think powers brief basically said he didn't trust Clem when staying the reasons he wouldn't sell.

the judge said it was 'less than convincing'. Not that it madea difference.


Title: Re: Lee Power
Post by: Tails on Monday, May 17, 2021, 15:48:16
Being a football club is irrelevant to the courts though, this a bog standard business case to them.

I don't think that's strictly true given that in a 'standard' business case the trial wouldn't be for another year. It was mentioned several times how the club is a community asset and how any form of insolvency is not ideal at all for anyone.


Title: Re: Lee Power
Post by: JBZ on Monday, May 17, 2021, 15:49:33
I've not seen suggestions beyond individual fans on social media that it was going to be?


Looking at the posts on this thread, many were under the impression that today was akin to d-day.


Title: Re: Lee Power
Post by: Costanza on Monday, May 17, 2021, 15:50:49
I am no expert but having sat through the last two of these sessions, I would say that Judge Thompsell is slowly but surely edging towards forcing Power to sell to Axis.

However, in terms of the football side of things, we could really feel the impact of the legal timeframes even if the trial started in September 2021 instead of June 2022 and if Axis come out of this victorious.

Enjoy the distraction of pints inside of pubs, Euro 2020+1 and cricket.


Title: Re: Lee Power
Post by: Tails on Monday, May 17, 2021, 15:51:18
So, if Clem/Standing say bollocks to continue funding the club but don’t give up on the ownership wrangle, and Power says he can’t fund it, Admin seems the only answer - just what Power wants.

Well there's an injunction out to prevent that so I would say no. It was pretty clear that Standing / Morfuni and their representatives + the judge dude (his official term) were of the opinion that administration doesn't work for anyone. Not that it's off the table, but it's being discussed very much as a last ditch thing.

Come September the court may have the power to force a sale to Axis.


Title: Re: Lee Power
Post by: Bogus Dave on Monday, May 17, 2021, 15:51:48
Today and now the day in June are just fancy legal catch ups aren’t they??

What you’d call a ‘keep in touch’ in a office parlance


Title: Re: Lee Power
Post by: stfcjack on Monday, May 17, 2021, 15:52:31
Does anyone know why the Eady trust could be giving up to £3m to Axis in the event of a sale?


Title: Re: Lee Power
Post by: Costanza on Monday, May 17, 2021, 15:58:27
Today and now the day in June are just fancy legal catch ups aren’t they??

What you’d call a ‘keep in touch’ in a office parlance

In the hope that parties resovle their issues and get a sale done beforehand.

I do think this particular hearing was 'mis-sold' to the fans somewhat perhaps that was in terms of a best case scenario. It was very clear within minutes of the hearing starting today that there wouldn't be a definitive decision today.


Title: Re: Lee Power
Post by: Flashheart on Monday, May 17, 2021, 15:59:58
So, if Clem/Standing say bollocks to continue funding the club but don’t give up on the ownership wrangle, and Power says he can’t fund it, Admin seems the only answer - just what Power wants.

You keep on saying this, but the judge himself today said:

A) He does not want to allow admin

B) He might choose to force a sale

This is the actual judge saying it - the person who decides what actually happens.

Admin might be AN answer, but it is FAR from being the only answer.


Title: Re: Lee Power
Post by: tans on Monday, May 17, 2021, 16:25:13
Does anyone know why the Eady trust could be giving up to £3m to Axis in the event of a sale?

I thought it was said there is money ringfenced for the club, but the Eady trust wont let the club have any of it whilst Power is still in charge


Title: Re: Lee Power
Post by: Bob's Orange on Monday, May 17, 2021, 16:41:07
I am no expert but having sat through the last two of these sessions, I would say that Judge Thompsell is slowly but surely edging towards forcing Power to sell to Axis.

However, in terms of the football side of things, we could really feel the impact of the legal timeframes even if the trial started in September 2021 instead of June 2022 and if Axis come out of this victorious.

Enjoy the distraction of pints inside of pubs, Euro 2020+1 and cricket.

I was fully with you until cricket!


Title: Re: Lee Power
Post by: Bob's Orange on Monday, May 17, 2021, 16:42:09
Today and now the day in June are just fancy legal catch ups aren’t they??

What you’d call a ‘keep in touch’ in a office parlance

not 'touching base'


Title: Re: Lee Power
Post by: horlock07 on Monday, May 17, 2021, 16:44:45
not 'touching base'

I just hope that by June we are not touching cloth.


Title: Re: Lee Power
Post by: pauld on Monday, May 17, 2021, 16:44:56
You keep on saying this, but the judge himself today said:

A) He does not want to allow admin

B) He might choose to force a sale

This is the actual judge saying it - the person who decides what actually happens.

Admin might be AN answer, but it is FAR from being the only answer.
Currently it's not even AN answer because there is still an injunction in place which expressly prohibits it, unless that was lifted today. Tom Seaward's update seems to imply it wasn't.


Title: Re: Lee Power
Post by: Bob's Orange on Monday, May 17, 2021, 16:46:38
I just hope that by June we are not touching cloth.

Or that we are able to cut out cloth accordingly.


Title: Re: Lee Power
Post by: Flashheart on Monday, May 17, 2021, 16:47:46
Currently it's not even AN answer because there is still an injunction in place which expressly prohibits it, unless that was lifted today. Tom Seaward's update seems to imply it wasn't.

It's still a potential outcome.

But that's beside the point. The point is that Audrey seems adamant that what's possibly the least likely outcome is the only one to be considered. 


Title: Re: Lee Power
Post by: pauld on Monday, May 17, 2021, 16:54:07
It's still a potential outcome.

But that's beside the point. The point is that Audrey seems adamant that what's possibly the least likely outcome is the only one to be considered. 
Yes. And FWIW, Tom Seaward has now published his write-up which confirms that the injunction against admin remains in place

"Orders banning Mr Power from placing the club into administration remain in force. "

https://www.swindonadvertiser.co.uk/news/19308963.no-conclusion-swindon-town-ownership-dispute-latest-court-hearing/



Title: Re: Lee Power
Post by: 4D on Monday, May 17, 2021, 17:03:40
not 'touching base'

Touching cloth?


Title: Re: Lee Power
Post by: hefty toe on Monday, May 17, 2021, 17:28:18
Guess Cowley was full of shit then.


Title: Re: Lee Power
Post by: ibelieveinmrreeves on Monday, May 17, 2021, 17:33:01
Shocker.


Title: Re: Lee Power
Post by: Cowley38 on Monday, May 17, 2021, 17:33:30
Guess Cowley was full of shit then.

 :zzz:


Title: Re: Lee Power
Post by: Bob's Orange on Monday, May 17, 2021, 17:42:38
:zzz:

He was just excited about the pubs opening I thought?


Title: Re: Lee Power
Post by: Frigby Daser on Monday, May 17, 2021, 18:05:27
So to sum up:

Best case scenario - something makes Power budge and sell before the next hearing to Axis.

Most likely scenario - this gets drawn out. We can’t recruit a manager (and if we do, Lee Power does it), we can’t recruit any good players, as they can’t guarantee getting paid (and have no manager or coaches), so we start the season with Power in charge, and a mixture of youth team players and those that haven’t managed to find another club over the summer. To say next season looks a struggle is an understatement.

Worst case scenario - Morfuni is either exposed as a chancer, or is good but loses interest. We get stuck with Power, who lets the rot continue and..... Aldershot, Bury, Macclesfield. The hopes of our club hinge of the whim of a man with a plumbing business on the other side of the world who nobody knows.


Title: Re: Lee Power
Post by: Red Frog on Monday, May 17, 2021, 18:13:13
The likely hit on sponsorship and season ticket sales, assuming the club ever gets round to offering them, and hence on next year's budget might help Power concentrate on the interest in selling before the court case. And since he can't sell to Able without the agreement of Morfuni and Standing, perhaps he'll be brought to his senses.

Or not.


Title: Re: Re: Lee Power
Post by: horlock07 on Monday, May 17, 2021, 18:18:56
:zzz:
So is there still good news coming this week then?


Title: Re: Lee Power
Post by: Boy About Town on Monday, May 17, 2021, 18:19:39
So to sum up:

Best case scenario - something makes Power budge and sell before the next hearing to Axis.

Most likely scenario - this gets drawn out. We can’t recruit a manager (and if we do, Lee Power does it), we can’t recruit any good players, as they can’t guarantee getting paid (and have no manager or coaches), so we start the season with Power in charge, and a mixture of youth team players and those that haven’t managed to find another club over the summer. To say next season looks a struggle is an understatement.

Worst case scenario - Morfuni is either exposed as a chancer, or is good but loses interest. We get stuck with Power, who lets the rot continue and..... Aldershot, Bury, Macclesfield. The hopes of our club hinge of the whim of a man with a plumbing business on the other side of the world who nobody knows.

I wonder how some of the worlds most passionate of Ultras would encourage Power to sell?  :sherlock:


Title: Re: Lee Power
Post by: Crackity Jones on Monday, May 17, 2021, 18:39:13
What I don't understand is how you can publicly state that you don't want to / or can't afford to continue to fund the club while it's in league 1 and then u turn after you have relegated the club and pissed off the entire fan base.  If power is still in charge next season, who is he expecting through the turnstiles?


Title: Re: Lee Power
Post by: Batch on Monday, May 17, 2021, 18:56:07
Quote from: Crackity Jones
What I don't understand is how you can publicly state that you don't want to / or can't afford to continue to fund the club while it's in league 1 and then u turn after you have relegated the club and pissed off the entire fan base.  If power is still in charge next season, who is he expecting through the turnstiles?


I think it's like poker betting, he's so far in  now he's gone all in and hoping for the best.


Title: Re: Lee Power
Post by: Legends-Lounge on Monday, May 17, 2021, 20:05:53
What I don't understand is how you can publicly state that you don't want to / or can't afford to continue to fund the club while it's in league 1 and then u turn after you have relegated the club and pissed off the entire fan base.  If power is still in charge next season, who is he expecting through the turnstiles?


If power is still in charge next season, who is he expecting through the turnstiles?

Yes pretty much this. Something I have alluded to myself. Which also leads onto Able. I doubt very much the trust would wish to enter into a partnership with them to purchase the ground and besides IIRC the council won’t sell to anyone without the trust having a 50% stake in the purchase. So the comment applies to them as well. After all are you going to invest any cash into the club owned by a company rubber stamped by Power? No, me neither. I firmly believe Able is a Trojan/Stalking Horse being used as a crowbar against Standing/Clem/Axis. The noose is getting tighter and as some said earlier (Batch) it is a game of poker now.


Title: Re: Lee Power
Post by: tans on Monday, May 17, 2021, 21:10:14
If our fearless leader says he can fund the club, why did he go to the EfL for a loan?

More horseshit.


Title: Re: Lee Power
Post by: TheDukeOfBanbury on Monday, May 17, 2021, 21:53:13

If power is still in charge next season, who is he expecting through the turnstiles?

Yes pretty much this. Something I have alluded to myself. Which also leads onto Able. I doubt very much the trust would wish to enter into a partnership with them to purchase the ground and besides IIRC the council won’t sell to anyone without the trust having a 50% stake in the purchase. So the comment applies to them as well. After all are you going to invest any cash into the club owned by a company rubber stamped by Power? No, me neither. I firmly believe Able is a Trojan/Stalking Horse being used as a crowbar against Standing/Clem/Axis. The noose is getting tighter and as some said earlier it is a game of poker now.

Power being the silent partner behind Able and openly touting this within football circles.
Supporters can do their bit by holding out. I do believe he won’t last much longer now,


Title: Re: Lee Power
Post by: Legends-Lounge on Monday, May 17, 2021, 21:59:32
Power being the silent partner behind Able and openly touting this within football circles.
Supporters can do their bit by holding out. I do believe he won’t last much longer now,

If what you say is accurate, then who is he trying to entice/kid in footballing circles to invest in his latest scheme?


Title: Re: Lee Power
Post by: JBZ on Monday, May 17, 2021, 22:09:29
Interesting to hear that the trial of Standing's claim has been 'brought forward'.  I queried this in earlier posts.


Title: Re: Lee Power
Post by: Legends-Lounge on Monday, May 17, 2021, 22:10:58
If our fearless leader says he can fund the club, why did he go to the EfL for a loan?

More horseshit.

Oh he can fund the club, just not with his money.


Title: Re: Lee Power
Post by: Nomoreheroes on Monday, May 17, 2021, 22:16:09
Interesting to hear that the trial of Standing's claim has been 'brought forward'.  I queried this in earlier posts.
Brought forward to when? I missed that.


Title: Re: Lee Power
Post by: ThreeDrawsMentality on Monday, May 17, 2021, 22:17:28
Power being the silent partner behind Able and openly touting this within football circles.
Supporters can do their bit by holding out. I do believe he won’t last much longer now,
Don't deny that this is true and it would explain why he's so keen to sell to them and them only, but seems such a weird partnership! A widebody race horse owner and Boston real estate magnates. Makes you wonder whats in it for Power to sell to Able...



Title: Re: Lee Power
Post by: JBZ on Monday, May 17, 2021, 22:21:21
Brought forward to when? I missed that.

The trust website says, amongst other things:-

"This hearing will also set an earlier timetable in motion for the Lee Power v Michael Standing trial, which brings forward from a date later in 2022 to an expedited one in late Summer this year."


Title: Re: Lee Power
Post by: JBZ on Monday, May 17, 2021, 22:29:53
Gotta love the Loathed Strangers podcast sniggering at the managerial candidates bandied about online (all of which have been suggested on the TEF at various points in time).


Title: Re: Lee Power
Post by: Crackity Jones on Monday, May 17, 2021, 22:33:54
Power being the silent partner behind Able and openly touting this within football circles.
Supporters can do their bit by holding out. I do believe he won’t last much longer now,
I'm out now until he's gone. Might start going to watch my local non-league side until that day; protests notwithstanding


Title: Lee Power
Post by: Batch on Monday, May 17, 2021, 22:46:11
Quote
Brought forward to when? I missed that.
full trial was set June 2022.

the judge recognised that the club wouldn'tb survive that long and agreed to try and bring it forward to September.

there are no guarantees it will be. Or that the  it'll be the same judge (though he'll try)


Title: Re: Lee Power
Post by: Costanza on Monday, May 17, 2021, 22:57:48
Gotta love the Loathed Strangers podcast sniggering at the managerial candidates bandied about online (all of which have been suggested on the TEF at various points in time).

Thanks for listening.


Title: Re: Lee Power
Post by: JBZ on Monday, May 17, 2021, 23:25:33
Thanks for listening.

No problem.  I don't often listen to the non-player interview episodes. 


Title: Re: Lee Power
Post by: stfcjack on Monday, May 17, 2021, 23:55:43
Proper, organised protest may be required in the not so distant future.


Title: Re: Lee Power
Post by: Nomoreheroes on Tuesday, May 18, 2021, 06:19:34
Thank you
Quote from: JBZ, Batch


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, May 18, 2021, 07:43:26
i still don’t understand why the can is being kicked down the road again. If they haven’t agreed by now another month isn’t going to change anything. Good to hear, though, that the judge can, and will, enforce a club sale. I presume, though, that that could only be to Axis.

Power’s statements are very contradictory from one hearing to the other. How on earth did Power/Standing think this would ever end amicably.


Title: Re: Lee Power
Post by: Batch on Tuesday, May 18, 2021, 08:42:34
i still don’t understand why the can is being kicked down the road again. If they haven’t agreed by now another month isn’t going to change anything.

It is moving forward. We needed this to be here 3 months ago though. I guess there is a framework to procedure and that's what is being followed. Even though we know Power won't sell to Axis, he has to be given the oppertunity for manouver to either do that or to fund the club to trial*. Etc.


At least the judge understands the urgency, though it may be too late footballing wise. I hope we get him for the main trial.

* As stated in trial, the 300K Clem and Standing put up has not been used yet - we funded via the EFL loan. I guess now we have released all out players the running costs will drop (July?) . So I guess its possible power could fund the club more easily and bring in el cheapo replacements. God help us.


Title: Re: Lee Power
Post by: Briggany on Tuesday, May 18, 2021, 09:30:53
I think the overly concerning thing is that Power has asked for the Standing/Clem funding to be doubled to 600k.... yet he said he can fund the club itself.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, May 18, 2021, 09:31:02
Yet Power says he wants Clem/Standing to finance another £600,000 this month. God knows what for if it’s true he hasn’t touched the previous £300,000.

Is it possible he stays as Chairman but funded by Able?


Title: Re: Lee Power
Post by: horlock07 on Tuesday, May 18, 2021, 09:34:03
Yet Power says he wants Clem/Standing to finance another £600,000 this month. God knows what for if it’s true he hasn’t touched the previous £300,000.

Is it possible he stays as Chairman but funded by Able?

Able can choose who they bloody well like as Chairman once its their toy (possible sanction from the FA/FL permitting).


Title: Re: Lee Power
Post by: horlock07 on Tuesday, May 18, 2021, 09:38:43
It was interesting to see the FA getting involved and seeking access to documents,at least suggests they are moving forward and there is little point doing things twice.

Read the Trust summary which was useful apart from this bit;

Axis have formalised their bid to purchase the Club, but Mr Power’s attorney outlined reasons as to why it wasn’t satisfactory to her client

Setting aside that we are not in the States  ;) :D, it would be useful to hear the reasons?



Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, May 18, 2021, 09:40:12
I really meant without actually selling to Able. Some kind of ‘arrangement’. Or is there a FA rule preventing outside investment - apart from players or agents?

Yesterday was the first time it was mooted that Power maybe wanted to carry on.


Title: Re: Lee Power
Post by: Costanza on Tuesday, May 18, 2021, 09:43:21
Yesterday was the first time it was mooted that Power maybe wanted to carry on.

This was a big moment during the hearing and was easy for Mr. West to use it to the advantage of Axis.

It simply highlighted yet again that Lee Power does not want to sell STFC to Morfuni.


Title: Re: Lee Power
Post by: JBZ on Tuesday, May 18, 2021, 10:02:22
It was interesting to see the FA getting involved and seeking access to documents,at least suggests they are moving forward and there is little point doing things twice.

Read the Trust summary which was useful apart from this bit;

Axis have formalised their bid to purchase the Club, but Mr Power’s attorney outlined reasons as to why it wasn’t satisfactory to her client

Setting aside that we are not in the States  ;) :D, it would be useful to hear the reasons?



The trust could do with someone who can provide/communicate a thorough analysis of the proceedings.


Title: Re: Lee Power
Post by: Flashheart on Tuesday, May 18, 2021, 10:08:20
It was interesting to see the FA getting involved and seeking access to documents,at least suggests they are moving forward and there is little point doing things twice.

Read the Trust summary which was useful apart from this bit;

Axis have formalised their bid to purchase the Club, but Mr Power’s attorney outlined reasons as to why it wasn’t satisfactory to her client

Setting aside that we are not in the States  ;) :D, it would be useful to hear the reasons?



I don't think the reasons were repeated during the session, but the judge did say they were not convincing.


Title: Re: Lee Power
Post by: Panda Paws on Tuesday, May 18, 2021, 10:11:58
The trust could do with someone who can provide/communicate a thorough analysis of the proceedings.

Ping us an email if you have value to add.


Title: Re: Lee Power
Post by: Flashheart on Tuesday, May 18, 2021, 10:17:32
Yet Power says he wants Clem/Standing to finance another £600,000 this month. God knows what for if it’s true he hasn’t touched the previous £300,000.


This bit fried my brain also. Surely he doesn't get to say he can run it AND request that other people pay for it. I must have missed something because I don't see how he (Power) could get away with it otherwise.


Title: Re: Lee Power
Post by: horlock07 on Tuesday, May 18, 2021, 10:26:18
I don't think the reasons were repeated during the session, but the judge did say they were not convincing.

This bit fried my brain also. Surely he doesn't get to say he can run it AND request that other people pay for it. I must have missed something because I don't see how he (Power) could get away with it otherwise.

I think what we are seeing here is a bloke scrabbling around to try and get his own way (or at least least damaging outcome (financially/legally)) whilst a rope slowly tightens, lots of hens coming home to roost and only real hope is to muddy the waters so much that other side decide its not worth their while to keep up stacking up the legals and agree to settle in some manner.

I remain pretty convinced that Standing/Axis are pretty darn sure they are going to win and get the majority of their legals paid as whilst I didn't see yesterday, previous events and reports seemed to suggest there was quite a gap in the quality of case (And presentation) between the two sides.


Title: Re: Lee Power
Post by: Batch on Tuesday, May 18, 2021, 10:29:45
This bit fried my brain also. Surely he doesn't get to say he can run it AND request that other people pay for it. I must have missed something because I don't see how he (Power) could get away with it otherwise.

I'd understand it if there was a genuine desire to sell to Axis, and this bridged the negotiations.

This just seems like a way to divert cash from Clem's pocket.
==========================
I don't want to renew my STs as things stand. But if Power does fund the club, will this mean that the shortfall will end up being owed to him anyway? Its a tough one.


Title: Re: Lee Power
Post by: Batch on Tuesday, May 18, 2021, 10:31:09
I didn't see yesterday, previous events and reports seemed to suggest there was quite a gap in the quality of case (And presentation) between the two sides.

From what I saw Power's representative was very competent, but you can't polish a turd.


Title: Re: Lee Power
Post by: Flashheart on Tuesday, May 18, 2021, 10:35:01
From what I saw Power's representative was very competent, but you can't polish a turd.

Reasonably fit as well...


Title: Re: Lee Power
Post by: horlock07 on Tuesday, May 18, 2021, 10:42:30
From what I saw Power's representative was very competent, but you can't polish a turd.

That's kind of what I mean, I know from experience of Planning Inquiries often when a side know they have a very strong case and the other side have acted unreasonably they will fling cash at the case as they know the loser will foot the bill.

I remember once the Council turned down a planning application (against Officer recommendation) and the appellant used a top planning QC from that London (this was in West Cumbria we never normally saw things like that) and flew in a poultry expert from France as he knew they had a very strong case. Council ended up getting clobbered for £30k+ (a lot for a council).


Title: Re: Lee Power
Post by: Batch on Tuesday, May 18, 2021, 10:44:08
Reasonably fit as well...

Yeah. I said that.

JJ said she was grumpy looking.


Title: Re: Lee Power
Post by: JBZ on Tuesday, May 18, 2021, 10:48:23
That's kind of what I mean, I know from experience of Planning Inquiries often when a side know they have a very strong case and the other side have acted unreasonably they will fling cash at the case as they know the loser will foot the bill.

I remember once the Council turned down a planning application (against Officer recommendation) and the appellant used a top planning QC from that London (this was in West Cumbria we never normally saw things like that) and flew in a poultry expert from France as he knew they had a very strong case. Council ended up getting clobbered for £30k+ (a lot for a council).

There is some gloss to add. Multi track cases are subject to costs budgets (a costs budgeting order was made earlier this year I seem to recall).  Essentially, the loser will pay the other side's budgeted costs, unless there is a good reason to depart from the budget.

With the recent goings on, I suspect there have been applications to vary the budgets.  However, the variations will have to be agreed/approved.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, May 18, 2021, 10:55:03
Does anyone actually know what it is about Axis that Power doesn’t trust? Seems a bit rich coming from a serial liar.


Title: Re: Lee Power
Post by: Flashheart on Tuesday, May 18, 2021, 10:56:11
Does anyone actually know what it is about Axis that Power doesn’t trust?

I think that's probably just BS - an excuse to sell to ABLE instead.


Title: Lee Power
Post by: Batch on Tuesday, May 18, 2021, 11:02:08
If this goes to trial and Power loses
  - Does he have the right to appeal
  - who has control of the company in the mean time?

-----
The judge was unimpressed by Powers reason for refusing to sell to Axis. in fact in the summary he called them "less than convincing'"


Title: Re: Lee Power
Post by: horlock07 on Tuesday, May 18, 2021, 11:06:03
Does anyone actually know what it is about Axis that Power doesn’t trust? Seems a bit rich coming from a serial liar.

Thing is the legal system and a judge deals in facts, they are going to place little (if any) weight upon an argument of subjective 'doesn't trust' especially as from recollection we have now had three different presiding Officers basically stating they feel LP is a bullshitter (in legalese).


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, May 18, 2021, 11:07:58
The other thing I’ve probably misconstrued. Was it correct that Clem/Standing offered £250,000 to Power for the club?


Title: Re: Lee Power
Post by: JBZ on Tuesday, May 18, 2021, 11:08:06
If this goes to trial and Power loses
  - Does he have the right to appeal
  - who has control of the company in the mean time?

-----
The judge was unimpressed by Powers reason for refusing to sell to Axis. in fact in the summary he called them "less than convincing'"

A party could appeal.  You need permission from the trial judge.  If that is refused you can make a separate application for permission.   You won't get permission to appeal just because you are unhappy with the result. There's a bit more to it.


Title: Re: Lee Power
Post by: horlock07 on Tuesday, May 18, 2021, 11:12:39
A party could appeal.  You need permission from the trial judge.  If that is refused you can make a separate application for permission.   You won't get permission to appeal just because you are unhappy with the result. There's a bit more to it.

As its beyond my area, is it like planning insofar as you can appeal if you think there has been an error in law, but not if you just don't like the conclusion?


Title: Re: Lee Power
Post by: Peter Venkman on Tuesday, May 18, 2021, 11:49:36
Yeah. I said that.

JJ said she was grumpy looking.
One did not suggest she wasn't attractive just that she looked a lot like grumpy cat during the case.


Title: Re: Lee Power
Post by: TheDukeOfBanbury on Tuesday, May 18, 2021, 11:54:02
Yet Power says he wants Clem/Standing to finance another £600,000 this month. God knows what for if it’s true he hasn’t touched the previous £300,000.

Is it possible he stays as Chairman but funded by Able?

Furloughing current players providing some cover.


Title: Re: Lee Power
Post by: Robinz on Tuesday, May 18, 2021, 12:16:13
Really can't see a game plan except Power is holding the cards where he seems to want the club to fail and the possibly to go up in smoke.

In the short term The longer this mess continues the more difficult it will be in getting a suitable manager and building a team to survive in league 2. Non league football would be a disaster for Swindon.

Mid term Is Power wanting to try and buy the County Ground which he could sell later on. Surely the Council won't sell unless the Trust is involved ?

Or has Power already taken part payment from Able for the club ? Similar to his previous arrangements with Standing and Morfuni.

From here I suggest he has already sold the club to Able or he is in fact Able ???

Please help and access me here ?

   

   
 


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, May 18, 2021, 12:32:48
He is legally prevented from selling the club unless it’s to Axis and without the permission of Axis/Standing.

It’s all brinkmanship now. Who will blink first.

Oi. Stop throwing sand in Power’s eyes!


Title: Re: Lee Power
Post by: Robinz on Tuesday, May 18, 2021, 12:50:35
Cheers for your views

With the FA issues pending as well as

How do you feel this situation will end ? 


Title: Re: Lee Power
Post by: Peter Venkman on Tuesday, May 18, 2021, 12:55:44
Cheers for your views

With the FA issues pending as well as

How do you feel this situation will end ? 

I have a feeling that the FA charge will hang around for months if not years to come, they don't do anything quickly it seems.

Also I think a lot will depend on if Power still legally owns/part owns the club after the court case has been finalised, which could possibly be October if there is no resolution on 17th June as the EFL/FA have asked for reports of yesterday case so they can study it in more detail.

Just a feeling but I don't think the FA charge will come to a head for a fair while yet.


Title: Re: Lee Power
Post by: Shrivvy Road on Tuesday, May 18, 2021, 13:23:47
Do any of yopu know if appearance fees play into salary caps at all. I know a few years ago they didn't, did that change?


Title: Re: Lee Power
Post by: Peter Venkman on Tuesday, May 18, 2021, 13:30:54
Do any of yopu know if appearance fees play into salary caps at all. I know a few years ago they didn't, did that change?

https://www.portsmouth.co.uk/sport/football/portsmouth-fc/efl-salary-cap-explained-how-portsmouth-might-be-impacted-wage-limits-squad-numbers-and-transfer-fees-2913567

Quote
All bonuses except for promotion will be included in the salary cap.

It means clubs aren’t able to find a loophole in the rules by topping up wages via lucrative add-ons for the likes of appearances, goals and clean sheets.

Signing-on fees and relocation fees are also to be part of the limit.


Title: Re: Lee Power
Post by: Bob's Orange on Tuesday, May 18, 2021, 13:46:18
Have they sacked off the salary cap now or is it still enforced?


Title: Re: Lee Power
Post by: JBZ on Tuesday, May 18, 2021, 13:46:25
As its beyond my area, is it like planning insofar as you can appeal if you think there has been an error in law, but not if you just don't like the conclusion?

Generally speaking, the original decision has to be wrong (judge got the law wrong or didn't exercise their discretion properly) or there was some form of procedural irregularity/cock up.  Being on the losing side and thinking you should have won isn't sufficient.


Title: Re: Lee Power
Post by: Peter Venkman on Tuesday, May 18, 2021, 13:48:02
Have they sacked off the salary cap now or is it still enforced?
AFAIK its been binned.


Title: Re: Lee Power
Post by: Batch on Tuesday, May 18, 2021, 14:14:24
Quote from: JBZ
Generally speaking, the original decision has to be wrong (judge got the law wrong or didn't exercise their discretion properly) or there was some form of procedural irregularity/cock up.  Being on the losing side and thinking you should have won isn't sufficient.

cheers.

assuming it did get that far, does Power still control the club through until the appeal ?


Title: Re: Lee Power
Post by: RobertT on Tuesday, May 18, 2021, 15:44:57
I noticed the judge eased a previous injunction - stated Power could sell subject to pre-emption rights - is that basically saying Standing can make a bid and not have to get approval from Axis?  It goes on to enable Axis to make a bid in private with Power that can be accepted as well I think.  Basically suggests Morfuni and Standing are both in agreement either can have it, I assume Standing not being interested really and has some sort of agreement around his share with Morfuni in place already.


Title: Re: Lee Power
Post by: Shrivvy Road on Tuesday, May 18, 2021, 15:47:14
I noticed the judge eased a previous injunction - stated Power could sell subject to pre-emption rights - is that basically saying Standing can make a bid and not have to get approval from Axis?  It goes on to enable Axis to make a bid in private with Power that can be accepted as well I think.  Basically suggests Morfuni and Standing are both in agreement either can have it, I assume Standing not being interested really and has some sort of agreement around his share with Morfuni in place already.
These are the things i would love to know. Despite public court cases are we any of the wiser really?


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, May 18, 2021, 15:47:48
Never thought of it like that. I presume Power has a bee in his bonnet with both Clem and Standing individually so I can’t see him selling to either unless forced.

Standing just wants his money back.


Title: Re: Lee Power
Post by: horlock07 on Tuesday, May 18, 2021, 15:53:14
Never thought of it like that. I presume Power has a bee in his bonnet with both Clem and Standing individually so I can’t see him selling to either unless forced.

Standing just wants his money back.

Isn't Powers claim that Barry owns the shares in Trust (I don't think he has ever denied that someone gave him the cash, the contentious issue is whether its Standing or Barry), could Standing/Axis just club together and work through Barry anyway, especially as there is no conflict now as Barry has retired?


Title: Re: Lee Power
Post by: RobertT on Tuesday, May 18, 2021, 15:54:52
Which was I was noodling on that bit as standing out a bit.  It looks like the judge has seen an obvious path that could be taken and sort of adding guard rails to Power - you can get out of this if you want to and it doesn't have to be Admin (which is still prevented by injunction).  The fact Power's reason for not selling seems to entirely be a Trust issue is not going to fly, it needs to be a financial issue.

Standings claim complicates the issue a little, but it does look to me like the judge is trying to nudge Power to exit now if he really wants to or risk losing control of the business through a later Court Case.

For Power to still be pushing means there has to be something in that Abe deal for him - either more money personally or a way out without recriminations (not suggesting there any ethical issues to find, but it would be a good reason not to sell to someone you've been fighting with).


Title: Re: Lee Power
Post by: RobertT on Tuesday, May 18, 2021, 15:55:40
Isn't Powers claim that Barry owns the shares in Trust (I don't think he has ever denied that someone gave him the cash, the contentious issue is whether its Standing or Barry), could Standing/Axis just club together and work through Barry anyway, especially as there is no conflict now as Barry has retired?

Wasn't there also dispute over it being a profit sharing venture vs. ownership as well?


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, May 18, 2021, 15:57:29
Still don’t understand what difference it makes to Power whether the money came from Standing or Barry. He’s admitted to breaking the FA rules either way. You’d have thought if the money was Barry’s he’d be the one in court - not Standing.


Title: Re: Lee Power
Post by: singingiiiffy on Tuesday, May 18, 2021, 19:31:19
im sure this has been covered many times before so apologies. Isn't the standing case the more urgent. If standing/barry owns 50% and clem 15% that leaves power with 35%. Can't they just get rid of power? im under the assumption that my simplistic view can't be done.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, May 18, 2021, 19:32:45
Can’t get rid of him, but he’ll have no say over club matters.


Title: Re: Lee Power
Post by: Peter Venkman on Wednesday, May 19, 2021, 10:49:51
im sure this has been covered many times before so apologies. Isn't the standing case the more urgent. If standing/barry owns 50% and clem 15% that leaves power with 35%. Can't they just get rid of power? im under the assumption that my simplistic view can't be done.
I was wondering this but apparently Standing doesn't own 50% of the club he owns 50% of the holding company according to Power, Clem owns 15% of the club so that leaves Power with 85% still.

The judge said Clem paid £250k for his 15% share and that he has proven funds of £4m in a bank account is available to buy the club, which is what Power values the club at. Power said he himself has solely funded the club since August 2019 and Clem says that his cash injection, or a large portion of it seems to be unaccounted for.

Powers solicitor said that Clems bid is actually lower than Able's bid (said to be £250k) which is why he hasn't accepted it.

Power also suggested that because Clem recently had part of his company wound up that he is "not a fit and proper owner" and that Power has the club and its fans best interests at heart!

The judge did not seem to trust what Power or his solicitor were suggesting as the truth, I don't know if that is normal "judge speak" but he kept constantly questioning Powers solicitor who made several mistakes in what she presented which he picked up on instantly and the judge seemed to doubt what he was being told constantly.


Title: Re: Lee Power
Post by: Batch on Wednesday, May 19, 2021, 10:53:23
good job you were making notes, as I thought the judge said Axis bid was 250k and and undertaking to pay creditors, and ables was similar but slightly different.


Title: Re: Lee Power
Post by: Peter Venkman on Wednesday, May 19, 2021, 11:00:16
good job you were making notes, as I thought the judge said Axis bid was 250k and and undertaking to pay creditors, and ables was similar but slightly different.
Both bids were said to be around £200k to £250k mark but the structure of Ables bid was considered more acceptable to the Axis bid structure, which Power said represented an overall lower value.


Title: Re: Lee Power
Post by: Batch on Wednesday, May 19, 2021, 11:01:42
ah right.

it was the 250k for the 15% but i missed as I thought it was £1m


Title: Re: Lee Power
Post by: Peter Venkman on Wednesday, May 19, 2021, 11:07:56
ah right.

it was the 250k for the 15% but i missed as I thought it was £1m
If it is then the judge didn't mention that figure during the couple of hours I listened, thats not to say thats not the figure though as it may have been mentioned prior to my logging in.


Title: Re: Lee Power
Post by: horlock07 on Wednesday, May 19, 2021, 11:22:49
I was wondering this but apparently Standing doesn't own 50% of the club he owns 50% of the holding company according to Power, Clem owns 15% of the club so that leaves Power with 85% still.


WRT to Standing doesn't the holding company own the club to all intents and purposes anyway, just strikes me of someone trying to bullshit.

WRT to Clem, if he only owns 15% of the club why is he not a director of a bit of the company he apparently part owns, yet is a director of both holding companies (Seebeck and Swinton Reds)

The judge said Clem paid £250k for his 15% share and that he has proven funds of £4m in a bank account is available to buy the club, which is what Power values the club at.

So the club is only worth £4.25m now, could make it attractive to more people compared with the £7m+ previously banded about. I assume there still remains the issue as to whether Clems injection was a loan re the CGT issue.

Power said he himself has solely funded the club since August 2019 and Clem says that his cash injection, or a large portion of it seems to be unaccounted for.

Its very murky innit.

Powers solicitor said that Clems bid is actually lower than Able's bid (said to be £250k) which is why he hasn't accepted it.

Power also suggested that because Clem recently had part of his company wound up that he is "not a fit and proper owner" and that Power has the club and its fans best interests at heart!


£250k seems a comparatively small amount to be apart, especially as they are all racking up legals at an alarming rate.

As for the Fit and Proper argument I assume Crea8 etc etc were mentioned, oh and plus the FA charge!

The judge did not seem to trust what Power or his solicitor were suggesting as the truth, I don't know if that is normal "judge speak" but he kept constantly questioning Powers solicitor who made several mistakes in what she presented which he picked up on instantly and the judge seemed to doubt what he was being told constantly.

Judges don't tend to accuse counsel of lying but will tease stuff out, TBH I imagine the Briefs brief was scrawled on the back of an envelope and as the above suggests is changed by the minute so she is probably doing the best she can!


Title: Re: Lee Power
Post by: Flashheart on Wednesday, May 19, 2021, 11:27:03
I was wondering this but apparently Standing doesn't own 50% of the club he owns 50% of the holding company

Doesn't that basically amount to the same thing? He'd have a 50% stake in ALL the holding company's holdings - including the club? I know the same would not work in reverse, but somebody please help me out with the (relevant) distinction here.


Title: Re: Lee Power
Post by: Peter Venkman on Wednesday, May 19, 2021, 11:40:55
WRT to Standing doesn't the holding company own the club to all intents and purposes anyway, just strikes me of someone trying to bullshit.
This is pretty much how I think it is seen by all.

Quote
Its very murky innit.
Possibly the biggest understatement ever with things concerning STFC mate!

Quote
£250k seems a comparatively small amount to be apart, especially as they are all racking up legals at an alarming rate.

As for the Fit and Proper argument I assume Crea8 etc etc were mentioned, oh and plus the FA charge!
That is the "in the pocket" value of each bid with Axis and Able both handling and absorbing the existing club debts in the deal, Abel suggesting some of the debts are more pressing than the other debts which seemed to upset Powers council, but yes it seems quite small to me too. Crea8 was not mentioned as far as I remember, but irony upon irony from Power there.

Quote
Judges don't tend to accuse counsel of lying but will tease stuff out, TBH I imagine the Briefs brief was scrawled on the back of an envelope and as the above suggests is changed by the minute so she is probably doing the best she can!
She did contradict herself a lot and when questioned she said "she didn't know" after hurredly checking her notes. She did seem ill prepared for a lot of the questions, which TBH were posed in the previous court hearing too.

Doesn't that basically amount to the same thing? He'd have a 50% stake in ALL the holding company's holdings - including the club? I know the same would not work in reverse, but somebody please help me out with the (relevant) distinction here.
TBH mate I don't know how the holding company/s stand with regards to the club ownership itself as with Coventry the holding company went bust but the club itself didn't, are Swinton a majority share holder or are they a total sole owner of the club?


Title: Re: Lee Power
Post by: horlock07 on Wednesday, May 19, 2021, 11:58:23
TBH mate I don't know how the holding company/s stand with regards to the club ownership itself as with Coventry the holding company went bust but the club itself didn't, are Swinton a majority share holder or are they a total sole owner of the club?


My interpretation has always been STFC Ltd is 100% owned by Seebeck (Jeds vehicle) which in turn is 100% owned by Swinton (Powers SPV)


Title: Re: Lee Power
Post by: Peter Venkman on Wednesday, May 19, 2021, 12:21:19
My interpretation has always been STFC Ltd is 100% owned by Seebeck (Jeds vehicle) which in turn is 100% owned by Swinton (Powers SPV)
So then if Standing owns 50% of Swinton reds but has no share in Seebek then he has no claim to owning 50% of the club or are they not mutually exclusive?

Which company do Axis own 15% of?

Does this matter?

I am sure its done to protect the clubs existance but it seems fucking long winded way of doing things of which I am still not 100% certain who ACTUALLY owns what and why shares are issued by each company?


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, May 19, 2021, 12:31:59
So what did Clem’s £1.1m actually buy?

It’s got to 15% of the club otherwise why would he hand over money. But, if so, why is Clem not listed as a director?

Surely, with Clem’s close links to the Trust he could explain in detail what he does actually own.

So the £250,000 is for Power’s arse pocket with whoever picking up the debts.

On that basis, why doesn’t the Trust - maybe via Eady - offer Power £500,000 to fuck off  then hand the club over to Clem.


Title: Lee Power
Post by: Batch on Wednesday, May 19, 2021, 12:42:13
He's a minority shareholder with no power.

It is only within Power's gift to appoint him as a director


Title: Re: Lee Power
Post by: horlock07 on Wednesday, May 19, 2021, 12:53:46
So then if Standing owns 50% of Swinton reds but has no share in Seebek then he has no claim to owning 50% of the club or are they not mutually exclusive?

Which company do Axis own 15% of?

Does this matter?

I am sure its done to protect the clubs existance but it seems fucking long winded way of doing things of which I am still not 100% certain who ACTUALLY owns what and why shares are issued by each company?

Right, as its lunchtime I've had a look on Companies House.

As of a return made in January 2016 it suggests the shareholding of STFC Ltd is broadly 99.8% owned by Seebeck 87 Ltd with the remaining being 'other'... (FWIW there appear to be 311,376,908 shares in the company - 308,188,451 Ordinary and 3,188,457 deferred).

Taking a step up the chain a Confirmation Statement in April 2017 suggests that there are 100 shares in Seebeck 87 Ltd, whilst there is no breakdown of shareholding it is confirmed that Swinton Reds 20 Ltd is a PSC which means they own over 75% of the shares.

Finally Swinton Reds 20 Ltd a Confirmation Statement in August 2019 suggests that there are 100 shares, 85 owned by Mr L Power and 15 by Axis Football Investments Ltd (AFIL).

And for completeness AFIL has a single share, owned by Clem!

Right I'm off to go and get out more.....  ;)


Title: Re: Lee Power
Post by: horlock07 on Wednesday, May 19, 2021, 12:59:04
So what did Clem’s £1.1m actually buy?


And considering he paid £1.1m apparently, what was the other £850k for and where has it gone?


Title: Re: Lee Power
Post by: Peter Venkman on Wednesday, May 19, 2021, 12:59:10
Thanks for the insight :)


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, May 19, 2021, 13:01:56
So, if Seebeck is for all intents and purposes the club, Power owns it entirely. So why does he have to get legal permission to sell something he owns 100% of? I was under the impression that the whole shebang hinged on Clem owning 15% of the club and Standing claiming to own 50% of Power’s 85%. He’s actually claiming he owns 50% of the entire club.

Clem owns 15% of Swinton Reds - whatever they actually are.

I’m totally confused!


Title: Re: Lee Power
Post by: horlock07 on Wednesday, May 19, 2021, 13:12:45
So, if Seebeck is for all intents and purposes the club, Power owns it entirely. So why does he have to get legal permission to sell something he owns 100% of? I was under the impression that the whole shebang hinged on Clem owning 15% of the club and Standing claiming to own 50% of Power’s 85%. He’s actually claiming he owns 50% of the entire club.

Clem owns 15% of Swinton Reds - whatever they actually are.

I’m totally confused!

Its just a stream of holding companies basically STFC is the asset which is owned by Seebeck albeit Seebeck is an asset ultimately owned by Swinton.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, May 19, 2021, 13:23:11
I presume when Swinton Reds was set up the ignorant twat thought he was actually spelling Swindon.

If that’s the case, it explains a lot.


Title: Lee Power
Post by: Batch on Wednesday, May 19, 2021, 13:32:22
Swinton is Manchester isn't it? Assumed he had some link up there, but now you mention it. ...


Title: Re: Lee Power
Post by: RobertT on Wednesday, May 19, 2021, 13:33:58
Clem originally paid 1.1m for Shares, which was later adjusted to a lower amount so that Power could avoid Capital Gains Tax.  The remainder should be listed as a loan somewhere - people mentioning it was missing may well be because the accounts are a year in arrears and it hasn't been reflected as such yet.  However, it may also be used by Power to show different relative values of the offers for now if Clem is including his investment to date, but Able are showing the need to pay that off/account for it.  Certainly seems Power is playing for every loophole/timing benefit he can try and achieve.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Thursday, May 20, 2021, 06:31:26
So, Clem has offered Power £250,000 and to take on the debts. He says this is not as good as Able’s offer. Yet he has said he would happily sell the club to Able for £1.

Wtf?


Title: Re: Lee Power
Post by: Samdy Gray on Thursday, May 20, 2021, 08:40:30
Maybe Able are offering to clear the debt in one go, so cash in Power's pocket, whereas Axis aren't?


Title: Re: Lee Power
Post by: Briggany on Thursday, May 20, 2021, 08:52:31
From what the Trust gathered from the court hearing is that Able have preferential terms and get time to pay of the debts within the first 2 years.

Axis have to pay it all of straight away, which I assume they are willing to do if they are still putting in a bid.


Title: Re: Lee Power
Post by: Peter Venkman on Thursday, May 20, 2021, 09:48:35
Maybe Able are offering to clear the debt in one go, so cash in Power's pocket, whereas Axis aren't?
The judge was told by Powers solicitors that this is the case, Able and Axis are treating some debts as non priority or not considered part of the clubs debt differently which could explain why one bid is valued less than the other bid even though they are of an "on paper" similar amount, one will obviously leave Power with a bigger shortfall that he himself will have to pay back and not the club.

Or thats how it sounded when the judge asked her but she was so vague at times that even he was frustrated by her apparent lack of facts on this.


Title: Re: Lee Power
Post by: horlock07 on Thursday, May 20, 2021, 10:03:54
Next week........

 :beers:

What day are we expecting this to happen this week?


Title: Re: Lee Power
Post by: swindonmaniac on Sunday, May 30, 2021, 17:27:55
Well done Blackpool, just shows what 'fan power'  can  achieve,  starve Power out. Oystons paid the price, let's hope Power goes the same way.


Title: Re: Lee Power
Post by: Jimmy Quinn on Sunday, May 30, 2021, 17:39:02
Just to think at the start of the season Blackpool were seen as rivals now we're two divisions apart😀


Title: Re: Lee Power
Post by: Crispy on Sunday, May 30, 2021, 19:19:29
Just to think at the start of the season Blackpool were seen as rivals now we're two divisions apart😀

By who? Preston?  :no:


Title: Re: Lee Power
Post by: JBZ on Sunday, May 30, 2021, 19:22:00
I think some on this forum thought that Blackpool would struggle and that their manager was pretty clueless.


Title: Re: Lee Power
Post by: Jimmy Quinn on Sunday, May 30, 2021, 19:24:51
By who? Preston?  :no:

Back track to last summer through the archives


Title: Re: Lee Power
Post by: Crispy on Sunday, May 30, 2021, 19:30:56
I think some on this forum thought that Blackpool would struggle and that their manager was pretty clueless.

Maybe so, but Rivals...?

Back track to last summer through the archives

There is little need, they were never seen as rivals.

Anyway, as to not derail the thread any further... Bollocks to Power.


Title: Re: Lee Power
Post by: Jimmy Quinn on Sunday, May 30, 2021, 20:15:02
Agreed but at the time there was a lot going on between the two separate forums once they stated sniffing around out playres


Title: Re: Lee Power
Post by: Nomoreheroes on Sunday, May 30, 2021, 20:25:28
Looking at Blackpool......What could have been!


Title: Re: Lee Power
Post by: Jimmy Quinn on Sunday, May 30, 2021, 20:29:40
They've had a few rough years so it's hard to begrudge their success today


Title: Re: Lee Power
Post by: swindonmaniac on Sunday, May 30, 2021, 22:07:50
I think some on this forum thought that Blackpool would struggle and that their manager was pretty clueless.
You mean pretty much like us ?.   :D :D


Title: Re: Lee Power
Post by: Jimmy Quinn on Sunday, May 30, 2021, 22:12:49
After the 3 or 4 games they were struggling and we were top of the league then the rest is history....


Title: Re: Lee Power
Post by: DV Canio on Monday, May 31, 2021, 06:36:26
I think some on this forum thought that Blackpool would struggle and that their manager was pretty clueless.

...and that Jerry Yates was over rated and not worth spending money on...


Title: Re: Lee Power
Post by: Costanza on Monday, May 31, 2021, 08:02:49
I had Blackpool down as overrated at the start of the season. They started poorly (apart from beating Swindon), appointed Colin Calderwood as assistant head coach and the rest is history...!

As for Jerry Yates: Town's lack of funds, impetus to ensure he was a Town player for 2020-21 is a Gordon Greer moment.


Title: Re: Lee Power
Post by: DV Canio on Monday, May 31, 2021, 08:40:56
I had Blackpool down as overrated at the start of the season. They started poorly (apart from beating Swindon), appointed Colin Calderwood as assistant head coach and the rest is history...!

As for Jerry Yates: Town's lack of funds, impetus to ensure he was a Town player for 2020-21 is a Gordon Greer moment.

Definitely not a Greer moment. That was pure stupidity on our part for various reasons (as was Paynter going on a free)

Yates signing / not signing was impacted by fund & a pandemic.

The missed opportunity (imo) was the previous January when we got him back on loan and signed Doyle till the end of the season. We definitely sacrificed anything long term for short term gain.

It was the wrong decision. Yates would have been perfectly capable of seeing us over the line in the Central Doyle role with Hope / DJ / Whoever out wide.

I mean chances are if we had signed him the previous season we’d have flogged him to Blackpool this January for 50k and a donkey ride but you know...


Title: Re: Lee Power
Post by: Ardiles on Monday, May 31, 2021, 08:41:11
It is a bit galling to find an ex-player as a club legend at another club so soon after leaving us.  If only we had stable ownership.


Title: Re: Lee Power
Post by: Costanza on Monday, May 31, 2021, 09:19:09
Definitely not a Greer moment. That was pure stupidity on our part for various reasons (as was Paynter going on a free)

I was just teasing... Sorry.


Title: Re: Lee Power
Post by: DV Canio on Monday, May 31, 2021, 09:26:00
I was just teasing... Sorry.

You will be.


Title: Re: Lee Power
Post by: Peter Venkman on Monday, May 31, 2021, 10:37:31
I had Blackpool down as overrated at the start of the season. They started poorly (apart from beating Swindon), appointed Colin Calderwood as assistant head coach and the rest is history...!

As for Jerry Yates: Town's lack of funds, impetus to ensure he was a Town player for 2020-21 is a Gordon Greer moment.
This.

Blackpool spent the most of any club in the close season in L1 so of course they were going to be in the top handful and as for their manager it could have gone either way, after 10 games the Blackpool fans were calling for his head.

Yates was never a realistic signing for us despite what many pie in the sky fans thought back then, I still think hes an average/decent L1 striker if played right, 7 of his 21 goals this season have come from penalties IIRC.

As for JBZ there is nothing like gloating is there?  getting 1 play off winner right, even a stopped clock is right twice a day. Maybe go away from the pre season favourites and dabble in taking a risk, Blackpool were 2/1 favourites pre season at one point, hardly a massive coup in suggesting they would do well with a massive budget and a £2m pre season budget for transfers.


Title: Re: Lee Power
Post by: Flashheart on Monday, May 31, 2021, 10:44:02
I don't think I recall a single person saying Blackpool would struggle. Methinks JBZ is likely straw-manning (again).

I know I questioned why so many people had them doing as one of the favourites despite having an untried manager in charge, and I'd take the same approach again.


Title: Re: Lee Power
Post by: Peter Venkman on Monday, May 31, 2021, 10:52:12
I don't think I recall a single person saying Blackpool would struggle. Methinks JBZ is likely straw-manning (again).

I know I questioned why so many people had them doing as one of the favourites despite having an untried manager in charge, and I'd take the same approach again.
I am sure nobody said they would definately struggle just that we HOPED they would struggle, something that was happening early season.

After 7 games they were 2nd bottom with 1 win, after 10 games they had 2 wins and their fans calling for Critchleys dismissal, of which there was a lot of gloating on here definately, but he signed Ellis Sims in January and that gave then a big boost.

Fair play to Critchley in getting through the early season crisis, and fair play to Yates for carrying on his form for us the season before, hes a hard worker with pace and mostly decent control, but not entirely convinced in his quality in front of goal, he still gets the ball mixed up between his feet but he has come on really well and fair play to him.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, May 31, 2021, 12:21:25
If anyone should be pissed about Jerry Yates it would be Rovrum.


Title: Re: Lee Power
Post by: Peter Venkman on Monday, May 31, 2021, 12:22:38
If anyone should be pissed about Jerry Yates it would be Rovrum.
Unless they have a large sell on clause, which I understand they do.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, May 31, 2021, 12:26:39
Ah, not so bad then.


Title: Re: Lee Power
Post by: Quagmire on Monday, May 31, 2021, 17:53:21
I see Paul Jewell has been wheeled out for a BBC Wilts interview.


Title: Re: Lee Power
Post by: Jimmy Quinn on Monday, May 31, 2021, 17:55:38
Why would he want to put himself through that isn't Lee available as they do have Zoom in Switzerland😀


Title: Re: Lee Power
Post by: Nomoreheroes on Monday, May 31, 2021, 17:59:44
I see Paul Jewell has been wheeled out for a BBC Wilts interview.
When?

Edit: Found it now:



Title: Re: Lee Power
Post by: stfcjack on Monday, May 31, 2021, 18:03:18
11th biggest budget in the league last season according to Jewell! He’s got to be having us on there surely.


Title: Re: Lee Power
Post by: JBZ on Monday, May 31, 2021, 18:06:44
Is this on now?


Title: Re: Lee Power
Post by: Jimmy Quinn on Monday, May 31, 2021, 18:15:14
Very vague with the details!
No it's not on now Ive just put the radio on and checked


Title: Re: Lee Power
Post by: Quagmire on Monday, May 31, 2021, 18:21:30
When?

Today… it’s on BBC sounds.


Title: Re: Lee Power
Post by: Berniman on Monday, May 31, 2021, 18:23:18
BBC have released a talk of the town episode on Sounds


Title: Re: Lee Power
Post by: Jimmy Quinn on Monday, May 31, 2021, 18:27:23
As Mcgreal named his backroom staff yet?


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, May 31, 2021, 18:27:57
Sheridan, Malpas and Luke Warm


Title: Re: Lee Power
Post by: Jimmy Quinn on Monday, May 31, 2021, 18:29:26
What about Kovar as goalkeeping coach


Title: Re: Lee Power
Post by: Nomoreheroes on Monday, May 31, 2021, 18:32:52
Jewell:
- McGreal: Colchester beat us twice in year we got promoted. Thought he did well there
- Thinks he's hungry and has determination to prove some people wrong
- Fowler and Tisdale? It wasnt a quick appointment. Spoke with a number of candidates. Its a vital appointment
- McGeal was keen and hungry. Alot of the candidates were impressed with what we had to stay, but McGreal had the edge. Is moving from his home in Ipswich.
- Player Recruitment: Last year we got it wrong. Jewell said he had health issues and couldnt get as involved as he wanted to last year. That shouldnt be the case this year
- Remembered talking to Wellens last year and said that the year after promotion is often the hardest as you sometime let your heart rule your head (ie Keep players who did well last time)
- Last year we were lacking pace and strength, which we need next year
- Lost 40 goals through Doyle and Yates and then couldn't keep the ball out of the net
- Lacked energy, power and pace to compete.
- We all have to take blame and learn from our mistakes
- Those who got us promoted served us well. We went up a level, but didnt go up a level with our signing
- Year before last our loan players were our best players. Maybe we were a bit blase in the summer. That's why we wanted to prepare early this summer
- Our budget was competitive last year. We were right up to the salary cap. We were 11th biggest last year
- It not always about the amount, it is how you use it
- We underachieved. Recruitment and player signings
- I smelled a rat early on. We had too many similar types of players. Small. We were too easily got at
- Not going to buy 6ft 7in players all over the pitch and boot it in the air
- We were seen as a soft and easy touch. We need to get away from that
- Is recruitment affected by taking hardship fund money? Will that hamper our ability to sign players and a squad? Its not about numbers in the squad its about quality in the squad. We need to replace quality
- McGreal had ideas as to who he wants to sign. He has good knowledge of the level.
- We need to use the loan market well. Year before last year we used the market well. We need to use our contacts.
- Last year it didnt work out. We took players without really doing our homework on them as we were up against the 8 ball. We couldnt get the forward we really wanted as he went somewhere else. (We thought we were going to get him)
- Rather than having our eggs in one basket we need to have options.
- We lost out in our number 1 targets all over the pitch. Either they went somewhere else or their club wouldnt let them go
- L1 and L2 there are very few transfer fees these days. In L2 I'd be surprised if anyone pays a big fee for a player
- Tyler Smith: They (Sheridan) were trying to send him back as they wanted to bring in another striker. Sheff wouldnt take him. Then he got injured. He came, scored a few goals, but it was difficult for him in a struggling team, and he was the victim of changes (Sheridan and co) wanted to make. But that boy will score goals.
- Matt Smith? Sheridan didnt want him to play week in and week out. Arsenal were very good, they didn't state that he had to play every game, but they saw opportunity for him to go to Charlton near the top of the Div so they recalled him
- Sheridan wobble? Sheridan phoned Jewell at home after Gills game. Told him to sleep on it. Sheridan then changed his mind.
- Sheridan was a terrific footballer, had a terrible time off the field with his parents dying, and wasnt dealt a good hand. He was given a poor team to manage. We got what we deserved as the recruitment wasn't right
- We want to put a team out there that will make us proud
- Lessons have to be learned! Not going to say everything will be rosy. We have a young keen manager. The club has had enough bad press. We are trying to turn it around to give the fans something to smile about in the future
- The potential for Swindon in exciting for a lot of people.
- With the manager we now have, he is a breath of fresh air. Thinks supporters will really like him
- Twine, Odimayo and Parsons? We made Twine a good offer. Think he needs another season playing week in and week out. Financially he might do better, but that might not be best for him. There is a lot of interest in him.
- Odimayo: We were going to bring him in and loan him to a Conference club. But he came in and did really well. We want to sign him and develop him further. But dont want to be forced to play him every week
- Clean slate for the manager: All he will get from Jewell is support. Jewell is just a sounding board, not bringing in people for McGreal. He will help McGreal when times are tough.
- Been on the phone far too long to Hodgetts. Really needs to talk to agents and players as the clock really is ticking!


Title: Re: Lee Power
Post by: Batch on Monday, May 31, 2021, 18:42:19
yeah, a pretty pointless interview other than the claim of 11th biggest budget in the league.

Not sure I blame BBC Wilts, they can only ask Sooty and Power for comment.

 Though at the same time they (the beeb) have hardly been proactive on the big issues


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, May 31, 2021, 18:49:34
Seems an awful lot of blather trying to cover up what the real problems were/are.

If we did have the 11th best budget then it shows up even more the pathetic recruitment of players and the inexplicable appointment and non-sacking of Sheridan.


Title: Re: Lee Power
Post by: Jimmy Quinn on Monday, May 31, 2021, 18:50:32
Strange that Jewell could smell a rat early on and even stranger that Sheriden didn't want to play our best performing player every game


Title: Re: Lee Power
Post by: Flashheart on Monday, May 31, 2021, 19:03:36
To be honest, I would not be surprised if we did have the 11th best budget. I remember people wondering in January just who was funding the transfers.

Reading between the lines, those comments from Jewell seem a tad critical of Wellens to me.


Title: Re: Lee Power
Post by: tans on Monday, May 31, 2021, 19:08:26
I thought that also


Title: Re: Lee Power
Post by: DV Canio on Monday, May 31, 2021, 20:26:05
...but...Wellens had no money!


I mean Jewell is obviously still here and of course he’s going to put on the best spin possible for himself but to me that reads almost like. I did all the transfers the first year when they were good - then I was ill and couldn’t get involved and Wellens signed all the shit.



Title: Re: Lee Power
Post by: Costanza on Monday, May 31, 2021, 20:32:32
Jewell essentially blamed everybody but himself and then suggested that he wasn't fully aware of squad based finances... The Director of Football.


Title: Re: Lee Power
Post by: Jimmy Quinn on Monday, May 31, 2021, 20:36:00
What exactly his Jewells role as director of football as he's not supposed to be on the payroll so it would be hard to put the blame on him if he only helps out when the transfer window is open


Title: Re: Lee Power
Post by: Costanza on Monday, May 31, 2021, 20:37:47
The guy is going on BBC Wiltshire and talking about the past season, the squad and the future.

He knows.


Title: Re: Lee Power
Post by: Jimmy Quinn on Monday, May 31, 2021, 20:38:50
Any idea when he's on BBC Wilts?


Title: Re: Lee Power
Post by: Nomoreheroes on Monday, May 31, 2021, 20:47:42
To be honest, I would not be surprised if we did have the 11th best budget. I remember people wondering in January just who was funding the transfers.

Reading between the lines, those comments from Jewell seem a tad critical of Wellens to me.
Indeed! I thought the interview was very interesting. I'm not going to write it all out again, but for me the key points were:

- Jewell accepted that there were a lot of mistakes made last year and everyone had to take some responsibility. But, at the same time he said he wasn't able to get as involved as he would have liked with recruitment last year due to illness, but that shouldn't be an issue this year
- McGreal will choose the players he wants. Jewell will give him his opinion and use his contacts where he can.
- Jewell seemingly blamed Wellens for keeping faith with some players that weren't up to L1 (The CBs and Grant?)
- Jewell also blamed Wellens for poor loan signings that weren't properly researched (Kovar? Stevens? Maybe the others too)
- Jewell again seemingly blamed Wellens for being lazy insomuch as only pursuing his number one targets in each position and not having a back up plan when the players either decided to go elsewhere (Woolery, Anderson, Yates and Doyle?) or the club wouldn't let them go (Benda?)
- Felt sorry for Sheridan, who was dealt a terrible hand both on the pitch (terrible side to manage) and off it (losing both parents within weeks)


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, May 31, 2021, 20:53:28
Ah, the ‘blame the bloke who has gone’ defence.

There’s only one person responsible for last season and that’s the moron who appointed Sheridan and didn’t sack him when it was obvious to all he was nowhere near up to the task.


Title: Re: Lee Power
Post by: tans on Monday, May 31, 2021, 21:28:14
So basically none of last season was Jewells fault whatsoever even though he has the position of DOF


Title: Re: Lee Power
Post by: Jimmy Quinn on Monday, May 31, 2021, 21:32:29
Doesn't the manager have the final say on what players are bought the DOF is effectively the mediator between club and agents


Title: Re: Lee Power
Post by: Bogus Dave on Monday, May 31, 2021, 21:58:40
No, in most modern clubs the director of football leads on recruitment. The ‘manager’ (an out of date term, head coach is more accurate) has a say but his job is primarily to make the bunch of players he has work

It means the whole squad doesn’t fall apart when you have to get a new manager, and you have an ongoing consistency on the football side of things


Title: Lee Power
Post by: Batch on Monday, May 31, 2021, 22:03:55
Quote
, and you have an ongoing consistency on the football side of things
let's hope not.

to be fair to Jewell, he did mention he has health issues that prevented him from doing the job properly.

that's said "it wasn't me" from a regime point of view doesn't stand. Sheridan was hopeless and no action was taken.


Title: Re: Lee Power
Post by: Bogus Dave on Monday, May 31, 2021, 22:08:41
Yeah, Jewell appears to be a bit of a token gesture as a dof. Luckily power doesn’t have a history of handing out cushty jobs and contracts to mates so you can’t speculate at any foul play in his appointment


Title: Re: Lee Power
Post by: Jimmy Quinn on Monday, May 31, 2021, 22:10:02
No, in most modern clubs the director of football leads on recruitment. The ‘manager’ (an out of date term, head coach is more accurate) has a say but his job is primarily to make the bunch of players he has work

It means the whole squad doesn’t fall apart when you have to get a new manager, and you have an ongoing consistency on the football side of things

That would be some responsibility on Jewell if we're to believe he's only helping his buddy out rsyhrt than being employed by the club


Title: Re: Lee Power
Post by: Flashheart on Monday, May 31, 2021, 22:17:59
We don't know exactly what Jewell's role is. Just because 'most' clubs might do it a certain way it doesn't mean all are.

That's not to say I'm trying to make excuses for Jewell, I don't trust any of them, but...


Title: Re: Lee Power
Post by: Jimmy Quinn on Monday, May 31, 2021, 22:23:31
You've just hit the nail on the head Jewells role is not fully understood just the way Power likes to do his business


Title: Lee Power
Post by: Batch on Monday, May 31, 2021, 22:41:39
However, he can't blame Wellens for the utter cock up that was the January window (Masterson aside)


Title: Re: Lee Power
Post by: tans on Monday, May 31, 2021, 22:42:14
Yeah, Jewell appears to be a bit of a token gesture as a dof. Luckily power doesn’t have a history of handing out cushty jobs and contracts to mates so you can’t speculate at any foul play in his appointment

:D


Title: Re: Lee Power
Post by: Nomoreheroes on Monday, May 31, 2021, 23:29:52
Jewell said he is there to provide advice and support to the manager. He has experience to impart upon the manager, if the manager wishes to take it. He is there to support the manager and not manage the manager or force the manager to have players he doesn't want.

He said that there was collective responsibility and that he had to take some of the blame himself. He wasn't able to do more last year due to ill health, but he and the rest of the team need to learn from the mistakes of last year.

So, he admitted that he was partially responsible, but there were mitigating circumstances on his front.


Title: Re: Lee Power
Post by: Jimmy Quinn on Monday, May 31, 2021, 23:34:27
At least he admitted he was partly responsible unlike Sherwood when he didn't even tell Williams what players he was signing


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 1, 2021, 04:28:12
Back to the budget. There was a salary cap last season that applied to all clubs so how can there be a ‘pecking order’?


Title: Re: Lee Power
Post by: Crackity Jones on Tuesday, June 1, 2021, 07:06:57
What a load of bollocks from Jewell and a typically passive interview from Hodgetts

 11th most competitive budget? If that was the case, how did we lose on all our top targets and miss out on new contracts to existing players we wanted to keep. Woolery eventually chose Tranmere over us after weeks of faffing for example To a man, all replacements were worse than the outgoing players.  

We were hardly adrift in January - some decent signings and a manager change and we could have been alright.  Why was Sheridan given the freedom to lose week in, week out.  He should have been sacked long before he chose to walk.

Sorry Jewell, but the actions of last season don't support your claims. It's a shame that Hodgetts won't ask the difficult questions.


Title: Re: Lee Power
Post by: DV Canio on Tuesday, June 1, 2021, 07:25:42
11th highest budget is all relative though.

Like 90% of that could have been take up by last years players, leaving us very little spare budget to work with. I’d imagine Baudry and Fryers we’re earning decent money here but offered nothing on the pitch. We’d had to in theory waste budget replacing players that were still here being paid, several times over in defence!!

Nit surprised Woolery left, Wellens was never all in on him and wasn’t he offered reduced terms anyway?

Regardless of what our actual budget was - the signings were gash. There is no way our budget was they second worst in the league but that doesn’t fit the ‘its all Powers fault, Wellens was helpless narrative’

I can understand people not wanting to full blame Wellens but can’t get my head around those who want to complete absolve him of any blame.


Title: Re: Lee Power
Post by: Pookemon on Tuesday, June 1, 2021, 07:27:11
I've no doubt that the budget was competitive.  The squad was huge, didn't we have 7 first team centre backs and half a dozen wingers at the start of the season?  Brett, Brett, Brett, Brett Pitman, Brett Pitman would have been on a decent wad, as would DJ, could be half a mil between those 2.

Other teams just spent better and didn't end up with a hopelessly unbalanced squad and the worst goalkeeper in the football league.

Sheridan then added the icing on the cake.   He would have put an average squad on a downward trajectory, but we had a poor one full of sicknotes.

Sunderland, Blackpool etc would have been over the cap having signed players before cap came into force.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 1, 2021, 07:49:02
I’m sure some of the players who left would have stayed if offered better terms - Woolery, Isgrove, Keshi. That’s assuming the club wanted to keep them, of course. Doyle was always going to be a non starter.

It’s the jettisoning of the Smith trio that baffled me. I know Jonny wasn’t everyone’s cup of tea but he was better than whoever it was that replaced him. Ditto Matt and the refusal to play Tyler.

The keeper situation was just ridiculous and the panic recruiting of Grounds, that young lad from Norwich and Freeman was just plain weird.


Title: Re: Lee Power
Post by: TheDukeOfBanbury on Tuesday, June 1, 2021, 08:25:42
As if he knows we had the 11th biggest budget.
Absolutely shite, a few players that we signed were also offered reduced terms thus difficult to understand why we didn’t compete.
Will be happy when he is no longer part of this pantomime however until the parasite has nothing to do with the club nothing changes.


Title: Re: Lee Power
Post by: Shrivvy Road on Tuesday, June 1, 2021, 08:26:02
11th highest budget is all relative though.

Like 90% of that could have been take up by last years players, leaving us very little spare budget to work with. I’d imagine Baudry and Fryers we’re earning decent money here but offered nothing on the pitch. We’d had to in theory waste budget replacing players that were still here being paid, several times over in defence!!

Nit surprised Woolery left, Wellens was never all in on him and wasn’t he offered reduced terms anyway?

Regardless of what our actual budget was - the signings were gash. There is no way our budget was they second worst in the league but that doesn’t fit the ‘its all Powers fault, Wellens was helpless narrative’

I can understand people not wanting to full blame Wellens but can’t get my head around those who want to complete absolve him of any blame.
To be fair DV i am not seeing much of that now


Title: Re: Lee Power
Post by: TheDukeOfBanbury on Tuesday, June 1, 2021, 09:18:11
I’m sure some of the players who left would have stayed if offered better terms - Woolery, Isgrove, Keshi. That’s assuming the club wanted to keep them, of course. Doyle was always going to be a non starter.

It’s the jettisoning of the Smith trio that baffled me. I know Jonny wasn’t everyone’s cup of tea but he was better than whoever it was that replaced him. Ditto Matt and the refusal to play Tyler.

The keeper situation was just ridiculous and the panic recruiting of Grounds, that young lad from Norwich and Freeman was just plain weird.

Freeman was sold for a fee.
DJ went for a decent amount as well.


Title: Re: Lee Power
Post by: ThreeDrawsMentality on Tuesday, June 1, 2021, 09:33:51
Even if the budget was competitive by any stretch (which I don't believe for one second was 11th), the point which really grates me is why would we even sanction a competitive budget when we were constantly on the brink, had to sell players and seek money from the EFL hardship fund. Just reckless financial management. Everything these charlatans say just keeps contradicting one another.


Title: Re: Lee Power
Post by: THE FLASH on Tuesday, June 1, 2021, 09:42:15
What a load of bollocks from Jewell and a typically passive interview from Hodgetts

 11th most competitive budget? If that was the case, how did we lose on all our top targets and miss out on new contracts to existing players we wanted to keep. Woolery eventually chose Tranmere over us after weeks of faffing for example To a man, all replacements were worse than the outgoing players. 

We were hardly adrift in January - some decent signings and a manager change and we could have been alright.  Why was Sheridan given the freedom to lose week in, week out.  He should have been sacked long before he chose to walk.

Sorry Jewell, but the actions of last season don't support your claims. It's a shame that Hodgetts won't ask the difficult questions.

This!!!

Despite Wellens making errors (thats nailed on), the mad fact is, that we still had hope to get out of the mess if Sheridactyl had been given the bullet and a few players brought in in January....we even had a slight glimmer if the useless turd had gone after the Gills debacle.

Thats down to Power and Jewell, end of.

NB - Hodgetts questioning is about as aggressive as Jimmy Young when he had a Tory on (for those old enough to remember).


Title: Re: Lee Power
Post by: Nomoreheroes on Tuesday, June 1, 2021, 09:45:02
Even if the budget was competitive by any stretch (which I don't believe for one second was 11th), the point which really grates me is why would we even sanction a competitive budget when we were constantly on the brink, had to sell players and seek money from the EFL hardship fund. Just reckless financial management. Everything these charlatans say just keeps contradicting one another.
Jewell said that he doesn't deal with the finances. He said that was done by those above him. He just made the point that if you have a budget you have to use it wisely. There is no room for sentiment and you have to replace players with other players of at least the same standard. We didn't do that.

As for the hardship fund - Speculating here, but if its an interest free loan with no hidden fees (and I obviously don't know the specific details) then surely you can make money from it? Although interest rates aren't that high, if you have £600k someone elses money and invest it wisely, you can make money for yourself, that you otherwise wouldn't.


Title: Re: Lee Power
Post by: DV Canio on Tuesday, June 1, 2021, 09:50:57
To be fair DV i am not seeing much of that now

Not now he’s Doncaster manager but the Wellens debate was in full flow when he was linked with a return.

A lot of people in this thread whilst not directly linking it to Wellens are calling bullshit on Jewell’s budget claim (which is very might well be) but he’s going to have more insight than fans who post on the internet


Title: Re: Lee Power
Post by: Jimmy Quinn on Tuesday, June 1, 2021, 10:05:30
Reference whether the budget is as stipulated You have to say it's a very precise number he's quoting and not seemingly plucked out of thin air so who are we to disagree with what he's saying.


Title: Re: Lee Power
Post by: Peter Venkman on Tuesday, June 1, 2021, 10:10:14
Back to the budget. There was a salary cap last season that applied to all clubs so how can there be a ‘pecking order’?
There was a salary cap in place, but not all clubs could even get near that cap, Accrington, Rochdale, and others, also several teams, Ipswich, Sunderland, Blackpool all blatantly ignored the cap which was why it was scrapped in January.


Title: Re: Lee Power
Post by: Nomoreheroes on Tuesday, June 1, 2021, 10:12:57
This!!!

Despite Wellens making errors (thats nailed on), the mad fact is, that we still had hope to get out of the mess if Sheridactyl had been given the bullet and a few players brought in in January....we even had a slight glimmer if the useless turd had gone after the Gills debacle.

Thats down to Power and Jewell, end of.

NB - Hodgetts questioning is about as aggressive as Jimmy Young when he had a Tory on (for those old enough to remember).
Hodgetts did an ok interview. He asked a couple of pressing questions - About Sheridan and T Smith. I don't think you have to have a Piers Morgan confrontational interview to get answers. You just have to listen to the responses and read between the lines.

In this one it was that Jewell put our relegation down to the fact that the club's summer recruitment was flawed. We kept players that we should have offloaded and didn't have a plan B if we couldn't get our primary targets. We panicked and signed players without knowing whether they were any good. Furthermore, we ended up with a poor, lightweight and unbalanced squad and a farcical goalkeeping situation. Sheridan did his best in difficult personal circumstances. Looking ahead, the club is trying to learn from its mistakes. It wants to move quickly to rebuild. McGreal has good knowledge of players at this level and the opportunity to build from the ground up. We need the squad to have strength, speed and energy. It's up to McGreal, but sounded unlikely that any of those released will be asked back.

Quite how much of that is spin is up for debate. Bottom line is a clear out, a fresh start, and a rebuild. Hopefully with a manager who will bring players and a style of play that will excite the fans. 


Title: Re: Lee Power
Post by: 4D on Tuesday, June 1, 2021, 10:28:29
Do we have scouts?


Title: Re: Lee Power
Post by: Jimmy Quinn on Tuesday, June 1, 2021, 10:29:11
Do we have backroom staff😀


Title: Re: Lee Power
Post by: Crackity Jones on Tuesday, June 1, 2021, 10:36:36
Well, the spin from our DoF is it was all Wellens fault. He had the financial backing from the chairman and signed poor players to replace those that chose to go elsewhere. Stupidly, according to Jewell, he wanted to rely on the nucleus of the side that were league 2 champions.  The spin is also that Sheridan did as well as he could in difficult circumstances on and off the pitch (the latter is certainly true).

He wants us to believe that the club has moved on and won't make the same mistakes again. Once again the chairman will give the manager the financial backing he needs to build a competitive squad.  Again, none of this is Powers fault and we were never really on the brink.

I wonder why we are getting this spin now and not last season?




Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 1, 2021, 11:16:31
Unsurprisingly, there is no sign of the annual accounts - which are due to be published now. Presume that comes with some kind of penalty.


Title: Re: Lee Power
Post by: Robinz on Tuesday, June 1, 2021, 11:21:59
Last season must have been the biggest set up for relegation since Adam was a boy.

Wellen's was wanting success and not given the resources.

Sheridan came in after moving from a Waterford and then moving from Wigan to get security at Swindon    :Ride On Fatbury's Lovestick:

Jewell admits Sheridan was given a hospital pass with the team Sheridan inherited  :clap:

Sheridan not sacked after the worst run of results in STFC history and didn't exit until Relegation is secured  :(

In all this time Power was trying to devalue and bankrupt the Club.

Power, Jewell just get out of the club now.

    


Title: Re: Lee Power
Post by: Batch on Tuesday, June 1, 2021, 11:22:10
what's the due date? I assume there is a delay from submission->appearing online


Title: Re: Lee Power
Post by: Robinz on Tuesday, June 1, 2021, 11:38:02
Surely the FA or FL must be able to see what has happened here

Fit for purpose owner and executives running the club into the ground.  :badmood:

Would be interested to know if there were betting syndicates making serious money on STFC's relegation.

It could only happen to STFC  :crash:     


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 1, 2021, 11:51:11
what's the due date? I assume there is a delay from submission->appearing online
31 May. Previous accounts, also falling due on he same date, have been published in February.


Title: Re: Lee Power
Post by: horlock07 on Tuesday, June 1, 2021, 11:58:27
31 May. Previous accounts, also falling due on he same date, have been published in February.

I suspect they won't be released until the next court date has been and gone....


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 1, 2021, 12:04:11
I suspect they won't be released until the next court date has been and gone....
HMRC hot on his tail

https://m.youtube.com/watch?v=BipoR8iITfU


Title: Re: Lee Power
Post by: Robinz on Tuesday, June 1, 2021, 12:16:43
Rumour or fact ?


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 1, 2021, 12:17:53
Rumour or fact ?
What?


Title: Re: Lee Power
Post by: Shrivvy Road on Tuesday, June 1, 2021, 15:03:37
Not now he’s Doncaster manager but the Wellens debate was in full flow when he was linked with a return.

A lot of people in this thread whilst not directly linking it to Wellens are calling bullshit on Jewell’s budget claim (which is very might well be) but he’s going to have more insight than fans who post on the internet
Lee Power and Wellens  said the opposite though so fuck knows


Title: Re: Lee Power
Post by: Panda Paws on Tuesday, June 1, 2021, 15:04:43
A lot of people in this thread whilst not directly linking it to Wellens are calling bullshit on Jewell’s budget claim (which is very might well be) but he’s going to have more insight than fans who post on the internet

He's also got a lot more reason to bullshit. If only someone asked him some proper questions.


Title: Re: Lee Power
Post by: Jimmy Quinn on Tuesday, June 1, 2021, 15:10:53
By him stating the 11th biggest budget you would have to assume he's right in what's he's saying as he could easily have said we had a budget in the top half of the league and left it at that


Title: Re: Lee Power
Post by: RobertT on Tuesday, June 1, 2021, 17:16:09
We were above (just) the relegation zone with two games in had when Wellens left - won 3 and lost 5.  A few games later and we were close to mid table having made up those games in hand, won 5, drew 1 and lost 8, carrying on similar form of sorts.  We were running at more than a point a game, enough to keep us up, and with a few more months to work with that original squad and a January window to come, I think Wellens would have done enough to keep us up.  He takes some blame on the recruitment side, that is for sure, but he didn't fuck up the Smith situations, he didn't flog DJ and he didn't take us from 16 points after 14 games to 30 more points in the next 32 games.

Ultimate blame is at Power's doorstep for the situation he has engineered.  Jewell can take some blame - even if it's not being as involved as he should have been (I imagine he was still heavily involved).  Wellens gets blame for not changing recruitment approach given the unique circumstances of the season.  Sheridan can take a shit load for just being shit and not walking, regardless of his personal situation.   Players can take some blame as well.  See, everyone gets some.


Title: Re: Lee Power
Post by: Jimmy Quinn on Tuesday, June 1, 2021, 17:49:43
The only ones missing any blame is us posters....maybe we should take some😀


Title: Re: Lee Power
Post by: TheDukeOfBanbury on Tuesday, June 1, 2021, 23:10:01
I've no doubt that the budget was competitive.  The squad was huge, didn't we have 7 first team centre backs and half a dozen wingers at the start of the season?  Brett, Brett, Brett, Brett Brett, Brett, Brett, Brett Pitman, Brett Pitman, Brett Brett, Brett, Brett, Brett Pitman, Brett Pitman would have been on a decent wad, as would DJ, could be half a mil between those 2.

Other teams just spent better and didn't end up with a hopelessly unbalanced squad and the worst goalkeeper in the football league.

Sheridan then added the icing on the cake.   He would have put an average squad on a downward trajectory, but we had a poor one full of sicknotes.

Sunderland, Blackpool etc would have been over the cap having signed players before cap came into force.

Probably pissed with some of the team selections.
Mind you watching that garbage last season and the lies from the owner is enough to turn anyone to drink.
2 more weeks and another Court Room appearance.
Meanwhile back at the circus the season ticket campaign is well under way with the only tried and tested formula from the club - silence.


Title: Re: Lee Power
Post by: otanswell on Wednesday, June 2, 2021, 01:32:04
And no word on refunds, no doubt it’s been spent on stone island and hookers


Title: Re: Lee Power
Post by: Red Frog on Wednesday, June 2, 2021, 06:54:14
And no sponsors rewards for two seasons now. Way to inspire loyalty.


Title: Re: Lee Power
Post by: Batch on Wednesday, June 2, 2021, 08:23:01
Quote from: Red Frog
And no sponsors rewards for two seasons now. Way to inspire loyalty.

yup. shambles.

Sooty Anderson is fucking useless


Title: Re: Lee Power
Post by: 4D on Wednesday, June 2, 2021, 08:34:25
yup. shambles.

Sooty Anderson is fucking useless

Who?  ??? Sweeps mate?


Title: Re: Lee Power
Post by: Exiled Bob on Wednesday, June 2, 2021, 09:30:38
We were above (just) the relegation zone with two games in had when Wellens left - won 3 and lost 5.  A few games later and we were close to mid table having made up those games in hand, won 5, drew 1 and lost 8, carrying on similar form of sorts.  We were running at more than a point a game, enough to keep us up, and with a few more months to work with that original squad and a January window to come, I think Wellens would have done enough to keep us up.  He takes some blame on the recruitment side, that is for sure, but he didn't fuck up the Smith situations, he didn't flog DJ and he didn't take us from 16 points after 14 games to 30 more points in the next 32 games.

Ultimate blame is at Power's doorstep for the situation he has engineered.  Jewell can take some blame - even if it's not being as involved as he should have been (I imagine he was still heavily involved).  Wellens gets blame for not changing recruitment approach given the unique circumstances of the season.  Sheridan can take a shit load for just being shit and not walking, regardless of his personal situation.   Players can take some blame as well.  See, everyone gets some.
Not disputing any of that, except the DJ bit. He had a transfer clause in his contract that he could leave if the amount was met, which it obviously was. Having clauses like that is the only way many clubs at our level are able to sign certain players with potential. 




Title: Re: Lee Power
Post by: Batch on Wednesday, June 2, 2021, 09:46:47
which one of you is @LeeMichaelPower on Twitter?

You're too coherent ;)


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, June 2, 2021, 10:36:51
Unsurprisingly, there is no sign of the annual accounts - which are due to be published now. Presume that comes with some kind of penalty.
Gellaw 458, the company that owns Pride Park, were also due to publish their accounts by 31 March.

They haven’t and have had notice of being wound up.



Title: Re: Lee Power
Post by: Flashheart on Wednesday, June 2, 2021, 10:49:19
Maybe the accounts have been published - to the appropriate authorities and just not to us plebs.  (I'm only guessing that that's even possible).

Perhaps somebody with the necessary wherewithal can take a look?


Title: Re: Lee Power
Post by: horlock07 on Wednesday, June 2, 2021, 11:08:11
Maybe the accounts have been published - to the appropriate authorities and just not to us plebs.  (I'm only guessing that that's even possible).

Perhaps somebody with the necessary wherewithal can take a look?

It often takes a while for stuff to be uploaded onto the CH website after receipt?


Title: Re: Lee Power
Post by: horlock07 on Wednesday, June 2, 2021, 11:10:34
Gellaw 458, the company that owns Pride Park, were also due to publish their accounts by 31 March.

They haven’t and have had notice of being wound up.



So we will maybe see same come end July.....


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, June 2, 2021, 11:14:24
Certainly not given much time after they are due that’s for sure.


Title: Re: Lee Power
Post by: Pookemon on Wednesday, June 2, 2021, 11:20:08
Gellaw 458, the company that owns Pride Park, were also due to publish their accounts by 31 March.

They haven’t and have had notice of being wound up.


You've misinterpreted there.  This is a dormant company in the process of being struck off and is perfectly normal.
You don't have to file accounts in this situation.

It doesn't look like it ever owned Pride Park Gellaw 101 did but sold it in 2017.

You don't get wound up for filing accounts a couple of months late.  That's only a £375 fine



Title: Re: Lee Power
Post by: Pookemon on Wednesday, June 2, 2021, 11:25:58
Maybe the accounts have been published - to the appropriate authorities and just not to us plebs.  (I'm only guessing that that's even possible).

Perhaps somebody with the necessary wherewithal can take a look?

The accounts for the club are 3 months late, almost certainly because of the ownership dispute, as accounts for Seebeck have been filed.   That's a £750 fine and a court summons for the directors in 4-5 months or so.  As long as they are filed before then no action will be taken apart from angry letters.


Title: Re: Lee Power
Post by: wokinghamred on Wednesday, June 2, 2021, 13:09:33
It often takes a while for stuff to be uploaded onto the CH website after receipt?

Currently taking about 10 days.


Title: Re: Lee Power
Post by: Flashheart on Wednesday, June 2, 2021, 21:02:56
Clem's online now with Vic Morgan (Swindon Town Supporter's Club on FB)


Title: Re: Lee Power
Post by: Nomoreheroes on Wednesday, June 2, 2021, 22:02:13
Clem's online now with Vic Morgan (Swindon Town Supporter's Club on FB)
Had a listen rather than watch that awful England game. I didn't see or hear anything new. Again, I'm not sure of the motivation. However, there did seem to be a lot of other people listening.


Title: Re: Re: Lee Power
Post by: Benzel on Thursday, June 3, 2021, 18:23:02
Had a listen rather than watch that awful England game. I didn't see or hear anything new. Again, I'm not sure of the motivation. However, there did seem to be a lot of other people listening.
Yeah I didn't check it out because I figured it'd be treading over old ground but I did think it'll probably reach a, shall we say, different generation of Town fan?

Sent from my CLT-L09


Title: Re: Lee Power
Post by: Quagmire on Friday, June 4, 2021, 08:04:04
https://www.swindonadvertiser.co.uk/news/19347374.questions-4m-missing-swindon-town-directors-account/


Title: Re: Lee Power
Post by: stfcjack on Friday, June 4, 2021, 08:05:01
Just GTFO now Mr Power


Title: Re: Lee Power
Post by: stfcjack on Friday, June 4, 2021, 08:05:28
I feel it’s going to be non stop revelations over the next coming months


Title: Re: Lee Power
Post by: Legends-Lounge on Friday, June 4, 2021, 08:17:55
I feel it’s going to be non stop revelations over the next coming months

There is a tin can at the CG. On the label it says ‘Financial, devious & skullduggery worms’ atop this can is a very sharp can opener. As each day goes by the ratchet on the can opener turns just a little bit more. You all know where this is going. There will be a number of vested and interested parties looking very, very closely as those worms start to spill out soon. Some of those parties have lawful powers you don’t want to fuck with and cannot be palmed off with in court with fancy Dan lawyers or barristers. Of course, for balance there could be nothing amiss at all and everything that may be amiss is just a misunderstanding...


Title: Re: Lee Power
Post by: Costanza on Friday, June 4, 2021, 08:36:05
https://www.swindonadvertiser.co.uk/news/19347374.questions-4m-missing-swindon-town-directors-account/

It's not new information. It's staggered from the court stuff as per the modern Newsquest approach to local journalism.

Even the reporter on the article, Tom Seaward, left the Adver a week ago (I think).


Title: Re: Lee Power
Post by: Peter Venkman on Friday, June 4, 2021, 08:41:22
I feel it’s going to be non stop revelations over the next coming months
From what I have heard from several people at the club and around the club this is just the tip of the iceberg.

I have a feeling that these are all part of why Power has not sold the club yet.

(https://media2.giphy.com/media/eToYFbOtxtTUc/giphy.gif)


Title: Re: Lee Power
Post by: Crispy on Friday, June 4, 2021, 08:46:34
And no word on refunds, no doubt it’s been spent on stone island and hookers

An ode to DMR


Title: Re: Lee Power
Post by: Legends-Lounge on Friday, June 4, 2021, 08:48:40
https://www.google.com/search?q=scooby+doo+characters&client=safari&channel=ipad_bm&sxsrf=ALeKk00SbH2DTWc3mKyTZ-ssqgM9UBorZQ:1622793044633&tbm=isch&source=iu&ictx=1&fir=x9n6inYDbhQkRM%252Cd_kVqc06Ugz8ZM%252C_&vet=1&usg=AI4_-kQDCHf5PVyBtXarSTdx6D01UtgtQg&sa=X&ved=2ahUKEwi5jOCXv_3wAhVKDGMBHTInCcsQ_h16BAgyEAE&biw=1269&bih=903&dpr=2#imgrc=x9n6inYDbhQkRM

These guys are on there way as we speak.


Title: Re: Lee Power
Post by: Nomoreheroes on Friday, June 4, 2021, 09:01:46
Pesky kids!

Difficult to work out what is new and what is old. Also difficult to fathom whether we are inching towards regime change or not.

Also, difficult to know whether every club has its own 'can of worms' and if so whether its a similar shape and size to ours or not.



Title: Re: Lee Power
Post by: Benzel on Friday, June 4, 2021, 09:03:55
https://twitter.com/WaterfordFCie/status/1400724214613676032?s=19

Sent from my CLT-L09


Title: Re: Lee Power
Post by: Peter Venkman on Friday, June 4, 2021, 09:08:56
I was just going to post that Waterford announced Lee Power has sold the club.

An interesting turn of events.


Title: Re: Lee Power
Post by: Bob's Orange on Friday, June 4, 2021, 09:14:45
I was just going to post that Waterford announced Lee Power has sold the club.

An interesting turn of events.

 ::) :hmmm:

As LL posted, its like an extended episode of Scooby Doo!


Title: Re: Lee Power
Post by: Matchworn Shirts on Friday, June 4, 2021, 09:20:11
Saving his money for us


Title: Re: Lee Power
Post by: Batch on Friday, June 4, 2021, 09:20:13
using it to "fund" our misery?


Title: Re: Lee Power
Post by: Frigby Daser on Friday, June 4, 2021, 09:26:31
How long until the buyer is named as Able....


Title: Re: Lee Power
Post by: Nomoreheroes on Friday, June 4, 2021, 09:26:43
Who has he sold Waterford to?

Is it a consortium that he is part of? Is it Able?


Title: Re: Lee Power
Post by: Flashheart on Friday, June 4, 2021, 09:30:05
For those too lazy to click on a link:

Quote
I am confirming that Waterford FC have sold 100% of its shares to R & S Holding Ltd who are a UK-based company headed up by Richard Forrest. Earlier in the year, Richard purchased 33% of the football club and the remaining shareholding was agreed over the weekend.

I would like to thank all the staff, supporters, and businesses of Waterford that have supported me and the football club throughout my time.

I would also like to think that I have left the club in a much better place than when I purchased it in 2016 when we were in the first division, attracting crowds of 200 and close to going out of business. After a lot of hard work and substantial investment, we managed to get the team back to the Premier League and also qualify for Europe, only for that to be taken away from us.

Ever since that decision was made by UEFA it has left a bitter taste in my mouth and it was difficult for things to stay the same. However, yet again last year it came down to the final game where a victory would have seen us back in Europe but it was not meant to be.

I have managed to steer the club through COVID and cover the substantial losses that came with that and felt that now is the right time for me to move over and let someone else take the club forward.

Me and my family will always continue to support and help the club in any way we can.

Once a Blue always a Blue

Lee Power


Title: Re: Lee Power
Post by: horlock07 on Friday, June 4, 2021, 09:36:08
For those too lazy to click on a link:


From an admittedly cursory look, Companies House have no record of that company!


Title: Re: Lee Power
Post by: Peter Venkman on Friday, June 4, 2021, 09:38:40
So Lee Power says he loves Waterford FC and still sells them, he has never even remotely suggested he loves Swindon Town FC and still owns them. I am guessing he can't make money out of Waterford like he can Swindon.

I wonder where this leaves Seamus Brady now?

From an admittedly cursory look, Companies House have no record of that company!
I imagine its 1 shareholder.....Mr Lee Power, makes great financial sense to sell a club with debts back to yourself, oh wait a minute I have heard this sort of thing somewhere else....


Title: Re: Lee Power
Post by: Bob's Orange on Friday, June 4, 2021, 09:39:50
From an admittedly cursory look, Companies House have no record of that company!

You are right. There was a company of that name dissolved in 2019 however.


Title: Re: Lee Power
Post by: Nomoreheroes on Friday, June 4, 2021, 09:40:47
Dude! I'm not lazy. I just didn't see the link at the bottom of the Tweet! I assumed that the minimal wording of the Tweet itself was all that there was.

But, thank you.


Title: Re: Lee Power
Post by: Shrivvy Road on Friday, June 4, 2021, 09:41:04
How much do we reckon some team in Ireland is valued at


Title: Re: Lee Power
Post by: horlock07 on Friday, June 4, 2021, 09:42:27
So Lee Power says he loves Waterford FC and still sells them, he has never even remotely suggested he loves Swindon Town FC and still owns them. I am guessing he can't make money out of Waterford like he can Swindon.

I wonder where this leaves Seamus Brady now?

Alternatively he hasn't tied himself in the knots he has at Swindon at Waterford and thus its a much easier asset to liquidate....


Title: Re: Lee Power
Post by: NotHarryAgombar on Friday, June 4, 2021, 09:43:00
The only possible ways to make any money from Waterford are
1. qualify for the Europa League or Champions League qualifying rounds - they did a couple of years ago but were disqualified for off field issues if I remember accurately
2. Profits on player sales -less likely

My initial thought was Able - not named in the statement of course.


Title: Re: Lee Power
Post by: 4D on Friday, June 4, 2021, 09:44:45
I went to school with a Richard Forrest  :)


Title: Re: Lee Power
Post by: horlock07 on Friday, June 4, 2021, 09:45:40
You are right. There was a company of that name dissolved in 2019 however.

There are actually 4 companies of that name, albeit 3 have been dissolved, none of which have any directors matching the name given in the press release!


Title: Re: Lee Power
Post by: Peter Venkman on Friday, June 4, 2021, 09:51:27
How much do we reckon some team in Ireland is valued at
They don't own their own ground, thats owned by the council, similar to us so he has no assets there, any assets would be players/staff so I doubt it would be any more than a couple of hundred grand TBH.

That is unless he has racked up debts there in the same way he has at Swindon which would mean any deal would pay off the debts much like the Able deal and leave a little on top for Power to take away.

Waterford have been struggling financially during lockdown and that was the main reason behind Sheedy and Newell leaving due to very very late payment of wages apparently.



Title: Re: Lee Power
Post by: horlock07 on Friday, June 4, 2021, 09:54:44
They don't own their own ground, thats owned by the council, similar to us so he has no assets there, any assets would be players/staff so I doubt it would be any more than a couple of hundred grand TBH.

That is unless he has racked up debts there in the same way he has at Swindon which would mean any deal would pay off the debts much like the Able deal and leave a little on top for Power to take away.

Waterford have been struggling financially during lockdown and that was the main reason behind Sheedy and Newell leaving due to very very late payment of wages apparently.



Whilst Alan Reynolds (the manager under whom they were successful) left due to a lack of communication and commitment from the owner, combined with the above it all sounds very familiar!


Title: Re: Lee Power
Post by: Peter Venkman on Friday, June 4, 2021, 09:58:35
Whilst Alan Reynolds (the manager under whom they were successful) left due to a lack of communication and commitment from the owner, combined with the above it all sounds very familiar!
It does, a leopard cant change its spots....


Title: Re: Lee Power
Post by: Jimmy Quinn on Friday, June 4, 2021, 10:00:33
It begs the question why Power would want so many headaches in his life


Title: Re: Lee Power
Post by: horlock07 on Friday, June 4, 2021, 10:02:15
When I was googling to try and find out anything about that company this popped up....

Does anyone honestly believe that Power was ever worth £45m and if so where did he get that kind of money from?

https://www.mirror.co.uk/sport/football/news/richest-football-league-clubs-based-13285535


Title: Re: Lee Power
Post by: wokinghamred on Friday, June 4, 2021, 10:03:06
There are actually 4 companies of that name, albeit 3 have been dissolved, none of which have any directors matching the name given in the press release!

There is a company called R & S Forrest Holdings Limited, based in Essex, owned by a Richard Forrest and his wife. Could be them. £6m turnover, small profits.


Title: Re: Lee Power
Post by: Peter Venkman on Friday, June 4, 2021, 10:04:05
It begs the question why Power would want so many headaches in his life
Because he is an entrepreneur! fingers and pies etc


Title: Re: Lee Power
Post by: Jimmy Quinn on Friday, June 4, 2021, 10:04:34
Horses and property maybe plus does anyone know what business he had in the US as he was always flying to New York pre Covid


Title: Re: Lee Power
Post by: 4D on Friday, June 4, 2021, 10:04:59
There is a company called R & S Forrest Holdings Limited, based in Essex, owned by a Richard Forrest and his wife. Could be them. £6m turnover, small profits.

Yep


Title: Re: Lee Power
Post by: wokinghamred on Friday, June 4, 2021, 10:05:25
There is a company called R & S Forrest Holdings Limited, based in Essex, owned by a Richard Forrest and his wife. Could be them. £6m turnover, small profits.
They run nursery schools.


Title: Re: Lee Power
Post by: horlock07 on Friday, June 4, 2021, 10:13:32
There is a company called R & S Forrest Holdings Limited, based in Essex, owned by a Richard Forrest and his wife. Could be them. £6m turnover, small profits.

Looks like the kiddy, albeit its quite the leap to go from owning children's nursery's (which are very lucrative) to owning a football club!


Title: Re: Lee Power
Post by: Peter Venkman on Friday, June 4, 2021, 10:17:25
Based less than 10 miles from the business premises of a Mr John Curran whos son plays football professionally for some L2 team.


Title: Re: Lee Power
Post by: Shrivvy Road on Friday, June 4, 2021, 10:17:56
It begs the question why Power would want so many headaches in his life
The £4m gone missing is some headache isn't it


Title: Re: Lee Power
Post by: ThreeDrawsMentality on Friday, June 4, 2021, 10:31:30
When I was googling to try and find out anything about that company this popped up....

Does anyone honestly believe that Power was ever worth £45m and if so where did he get that kind of money from?

https://www.mirror.co.uk/sport/football/news/richest-football-league-clubs-based-13285535
This was a quote taken out of context. Remember it originally came from a local news article on owners wealth's and I questioned the journalist where the figure came from as it seemed high and it was from an article in the Irish press with Power about Waterford and he said if he was a player in the modern game he'd be worth £45mn.


Title: Re: Lee Power
Post by: Crackity Jones on Friday, June 4, 2021, 10:32:53
The £4m gone missing is some headache isn't it
I am sure there will be a perfectly reasonable explanation from our Lee. These things happen all the time. I am forever losing track of what I have taken money out of an account for  :hmmm:


Title: Re: Lee Power
Post by: Jimmy Quinn on Friday, June 4, 2021, 10:39:40
The £4m gone missing is some headache isn't it

It could be if found guilty and you get banged up


Title: Re: Lee Power
Post by: Red Frog on Friday, June 4, 2021, 10:42:37
Lee Power, once a blue always a blue.  :hmmm:


Title: Re: Lee Power
Post by: Jimmy Quinn on Friday, June 4, 2021, 10:44:55
Shame he didn't screw over his beloved Millwall as there would be a bounty over his head


Title: Re: Lee Power
Post by: Peter Venkman on Friday, June 4, 2021, 10:50:21
Shame he didn't screw over his beloved Millwall as there would be a bounty over his head
Waterford is known to have a strong gangland community too...

https://www.thejournal.ie/waterford-gang-drug-dealers-3392127-May2017/

https://www.irishtimes.com/news/shooting-is-first-gangland-attack-by-foreign-drugs-syndicate-1.1027284

https://www.independent.ie/irish-news/victim-of-gangland-killing-found-26103811.html


Title: Re: Lee Power
Post by: horlock07 on Friday, June 4, 2021, 11:02:51
The £4m gone missing is some headache isn't it

(https://lh3.googleusercontent.com/proxy/RYJ67VxvHWGWFyN52cBWbOq9MKYbX99wm1h_n4OBI8-z2_hFHQM-yW0sYFsgDDy7erDbt6ewP8tCQYRGXB-JsVIN_gT2ragT70T3fLVzp_uT_fU78SKXN_wpOdWMdh6b4JkejEJnlzMR8yvPYxnBXTX2-jIRR6sobQw)


Title: Re: Lee Power
Post by: Jimmy Quinn on Friday, June 4, 2021, 11:04:11
Waterford is known to have a strong gangland community too...

https://www.thejournal.ie/waterford-gang-drug-dealers-3392127-May2017/

https://www.irishtimes.com/news/shooting-is-first-gangland-attack-by-foreign-drugs-syndicate-1.1027284

https://www.independent.ie/irish-news/victim-of-gangland-killing-found-26103811.html

Run out of Town maybe  :pint:


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Friday, June 4, 2021, 11:23:03
Is it possible something illegal has gone on? It explains why he doesn’t want to sell to Clem, that’s for sure. Maybe this bring released now, a week from the next court hearing, is to pile pressure on him to sell or for the judge to make him.


Title: Re: Lee Power
Post by: Peter Venkman on Friday, June 4, 2021, 11:23:47
(https://media1.giphy.com/media/26mffX8FQiqnlwcIU/giphy.gif)


Title: Re: Lee Power
Post by: Flashheart on Friday, June 4, 2021, 11:25:53
Is it possible something illegal has gone on? It explains why he doesn’t want to sell to Clem, that’s for sure

This is exactly what I think and it will tie in with the rumours that he is 'secretly' part of ABLE company.

I reckon he doesn't want anybody else getting access to the books, and allowing ABLE (a group of mates) to come in instead of a 3rd party will allow him to clean the books up somehow.


Title: Re: Lee Power
Post by: Peter Venkman on Friday, June 4, 2021, 11:29:44
This is exactly what I think and it will tie in with the rumours that he is 'secretly' part of ABLE company.

I reckon he doesn't want anybody else getting access to the books, and allowing ABLE (a group of mates) to come in instead of a 3rd party will allow him to clean the books up somehow.
I have a feeling that this is also the reason that Clem fell out with Power so quickly after coming on board. Clem sees some things he wants to be no part of and tells Power to stop and Power tell Clem to F off and keep his nose out of things.


Title: Re: Lee Power
Post by: horlock07 on Friday, June 4, 2021, 11:30:17
Is it possible something illegal has gone on? It explains why he doesn’t want to sell to Clem, that’s for sure. Maybe this bring released now, a week from the next court hearing, is to pile pressure on him to sell or for the judge to make him.

I think its been clear for quite some time that things are murky to say the least, as noted previously I think he was doing fine until he got Clem involved who, callously, expected him to keep to agreements, do things in writing and get what he actually paid for, at which point things started to unravel and add covid into the situation has left Power desperately trying to extract himself from a mess of his own making.

The difference with Waterford seems to be that he owned 100% of it so was his own Lord and master at STFC there are others with fingers in pies who are slowly closing in with the force of the law behind them waiting.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Friday, June 4, 2021, 11:30:36
Thinking ahead, just what is the next step if this goes to court in September and the verdict is that Standing does indeed own 50% of Power’s share of the club.

I’m still unsure if Power can be forced to sell up.


Title: Re: Lee Power
Post by: Peter Venkman on Friday, June 4, 2021, 11:32:04
Thinking ahead, just what is the next step if this goes to court in September and the verdict is that Standing does indeed own 50% of Power’s share of the club.

I’m still unsure if Power can be forced to sell up.
If Standing does indeed own 50% of the club and Clem owns 15% of the club then Power can be forced out by those 2 as he would only be the holder of 35% of the shares.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Friday, June 4, 2021, 11:33:40
Of course. Didn’t think of that. So the only way he can wriggle out of this, financially, is if the court case goes in his favour.


Title: Re: Lee Power
Post by: Matchworn Shirts on Friday, June 4, 2021, 11:34:46
(https://lh3.googleusercontent.com/proxy/RYJ67VxvHWGWFyN52cBWbOq9MKYbX99wm1h_n4OBI8-z2_hFHQM-yW0sYFsgDDy7erDbt6ewP8tCQYRGXB-JsVIN_gT2ragT70T3fLVzp_uT_fU78SKXN_wpOdWMdh6b4JkejEJnlzMR8yvPYxnBXTX2-jIRR6sobQw)

https://www.youtube.com/watch?v=FKtIPIKSCws


Title: Re: Lee Power
Post by: Legends-Lounge on Friday, June 4, 2021, 11:35:48
If Standing does indeed own 50% of the club and Clem owns 15% of the club then Power can be forced out by those 2 as he would only be the holder of 35% of the shares.

Which is why it would appear that Mr. Power is desperate to sell to Able or put the club in to administration. Sadly for Mr. Power the courts are cock blocking his attempts to get away with it. That is unless those pesky kids reveal all. Scooby Dooby Dooooo.


Title: Re: Lee Power
Post by: Jimmy Quinn on Friday, June 4, 2021, 11:38:41
 :clap: :clap:

https://www.youtube.com/watch?v=0_C2HJvtRDY


Title: Re: Lee Power
Post by: Peter Venkman on Friday, June 4, 2021, 11:40:29
In other matters I have a large tattoo on my calf of Scooby Doo and Shaggy :)

They will arrest Power and rip off his mask revealing Mike Diamindis!


Title: Re: Lee Power
Post by: horlock07 on Friday, June 4, 2021, 11:42:50
If Standing does indeed own 50% of the club and Clem owns 15% of the club then Power can be forced out by those 2 as he would only be the holder of 35% of the shares.

Isn't the grey area whether Power sold Clem 15% of the club or 15% of Powers holding in the club, I imagine as in theory Power controlled 100% at the time (50% his and 50% in trust for Standing, that would mean both him and Standing now own 42.5% each and Clem 15% (or something like that!) so a 57.5% holding v. Power. I assume their power will depend on the types of shares held and what the Articles of Association say for the various companies regarding voting rights.

I still cannot believe that Standing would invest that sort of money with no paper trail whatsoever!


Title: Re: Lee Power
Post by: Peter Venkman on Friday, June 4, 2021, 11:49:30
Isn't the grey area whether Power sold Clem 15% of the club or 15% of Powers holding in the club, I imagine as in theory Power controlled 100% at the time (50% his and 50% in trust for Standing, that would mean both him and Standing now own 42.5% and Clem 15% (or something like that!)

I still cannot believe that Standing would invest that sort of money with no paper trail whatsoever!
TBH mate the whole ownership of the football club is a grey area!

I have heard as well that there have been a further 3 claims to shares issued by Power to other people not named so far. So there could be a possibility that Power doesnt even own whichever % of shares he claims anyway.

Standing appears to be claiming he owns 50% of the club, not 42.5%, Clem claims he owns 15% of the club so its easy to see why the judge does not look favourably on Powers side of things.


Title: Re: Lee Power
Post by: ThreeDrawsMentality on Friday, June 4, 2021, 11:57:56


I have heard as well that there have been a further 3 claims to shares issued by Power to other people not named so far. So there could be a possibility that Power doesnt even own whichever % of shares he claims anyway.

To go back to scooby doo, find it absolutely astonishing Power ever thought he could get away with it and that it wouldn't come to a messy end


Title: Re: Lee Power
Post by: Flashheart on Friday, June 4, 2021, 12:02:05
To go back to scooby doo, find it absolutely astonishing Power ever thought he could get away with it and that it wouldn't come to a messy end


Plate spinning.

He probably thought he'd eventually end up being able to repay people, but Clem and covid came along and it all went Pete Tong.


Title: Re: Lee Power
Post by: Peter Venkman on Friday, June 4, 2021, 12:09:51
To go back to scooby doo, find it absolutely astonishing Power ever thought he could get away with it and that it wouldn't come to a messy end

The ill educated often think they are immune from getting caught when doing things illegally.

Or just do not fear the punishment.


Title: Re: Lee Power
Post by: ThreeDrawsMentality on Friday, June 4, 2021, 12:19:41
Plate spinning.

He probably thought he'd eventually end up being able to repay people, but Clem and covid came along and it all went Pete Tong.
Ah yeah. Forgot how many of the Lou Pearlman ilk there were


Title: Re: Lee Power
Post by: Leggett on Friday, June 4, 2021, 13:13:01
In other matters I have a large tattoo on my calf of Scooby Doo and Shaggy :)

Animal cruelty, you bastard! :D


Title: Re: Lee Power
Post by: Peter Venkman on Friday, June 4, 2021, 13:21:34
Animal cruelty, you bastard! :D
I quite fancy Velma, I may even get a velma tattoo :D


Title: Re: Lee Power
Post by: Jimmy Quinn on Friday, June 4, 2021, 13:22:47
Don't forget shaggy😀


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Friday, June 4, 2021, 13:23:55
He’s been canny, though. He’s kept HMRC out of the equation - which is nearly always the first port of call from clubs in financial distress. They’ve been paid regularly - no doubt to prevent any sort of forensic examination of the accounts.

Anyone else, it seems, is fair game for fleecing.


Title: Re: Lee Power
Post by: Peter Venkman on Friday, June 4, 2021, 13:23:58
Don't forget shaggy😀
I have Shaggy already :)


Title: Re: Lee Power
Post by: Jimmy Quinn on Friday, June 4, 2021, 13:24:53
 :eek: :eek:


Title: Re: Lee Power
Post by: Flashheart on Friday, June 4, 2021, 13:25:35
He’s been canny, though. He’s kept HMRC out of the equation - which is nearly always the first port of call from clubs in financial distress. They’ve been paid regularly - no doubt to prevent any sort of forensic examination of the accounts.

Anyone else, it seems, is fair game for fleecing.

PROOF that any owner who's paying HMRC has something to hide


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Friday, June 4, 2021, 13:28:01
Not at all. But,to me, it proves the club is financially viable with a decent owner running it.


Title: Re: Lee Power
Post by: Peter Venkman on Friday, June 4, 2021, 13:46:17
Not at all. But,to me, it proves the club is financially viable with a decent owner running it.
I think Clem said exactly this a few weeks back when doing due dilligence, he said he could not understand why Power was saying the club was losing a lot of money, Clem suggested it should be running a profit, even during lockdown.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Friday, June 4, 2021, 13:48:53
Don’t know about ‘losing’. I think we all know where it is!


Title: Re: Lee Power
Post by: Jimmy Quinn on Friday, June 4, 2021, 13:50:32
Don’t know about ‘losing’. I think we all know where it is!

Accumulating in the Swiss Alps😳


Title: Re: Lee Power
Post by: Peter Venkman on Friday, June 4, 2021, 13:52:40
Accumulating in the Swiss Alps😳
Invested in (future dog meat) race horses more like.


Title: Re: Lee Power
Post by: Jimmy Quinn on Friday, June 4, 2021, 13:54:28
Invested in (future dog meat) race horses more like.

I wonder what his mates Jewell and slimy Tim make of his shenanigans


Title: Re: Lee Power
Post by: Peter Venkman on Friday, June 4, 2021, 13:58:12
I wonder what his mates Jewell and slimy Tim make of his shenanigans
Arent both of them highly invested in the Race Horse circuit too?


Title: Re: Lee Power
Post by: Jimmy Quinn on Friday, June 4, 2021, 13:59:16
I'm not sure JJ although I know Sherwood has property investments with Power


Title: Re: Lee Power
Post by: Flashheart on Friday, June 4, 2021, 14:06:06
I would not be surprised if he's ripped them off as well somewhere down the line.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Friday, June 4, 2021, 14:09:38
Accumulating in the Swiss Alps😳


Title: Re: Lee Power
Post by: Jimmy Quinn on Friday, June 4, 2021, 14:12:34
I do like a Toblerone but hard to eat!


Title: Re: Lee Power
Post by: tans on Friday, June 4, 2021, 17:57:58
Clem has done a talk of the town


Title: Re: Lee Power
Post by: Legends-Lounge on Friday, June 4, 2021, 18:03:16
I do like a Toblerone but hard to eat!

Biggest cause of dental fractures according to an old dentist.


Title: Re: Lee Power
Post by: Jimmy Quinn on Friday, June 4, 2021, 18:05:31
Like biting into rocks especially if chilled in the fridge!


Title: Re: Lee Power
Post by: Flashheart on Friday, June 4, 2021, 18:06:35
Clem has done a talk of the town

He's doing the right thing by making himself visible.


Title: Re: Lee Power
Post by: Power to people on Friday, June 4, 2021, 18:09:13
Didn't clubs get something like a 6 month grace period from when accounts were due due to Covid ? would this explain why the stfc and I assume associated companies have not filed accounts as yet.

I thought the court told Power he needed to share the accounts with Clem so he could make a proper bid, but it seems these were not shared so is that not contempt of court not doing what the court says ?


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Friday, June 4, 2021, 18:23:20
I think paperwork was handed over to Clem/Standing - the £4m sized black hole must have been gleaned from that. Whether he actually got full and frank disclosure is another matter.

I just can’t see how Power can wriggle out of this.


Title: Re: Lee Power
Post by: tans on Friday, June 4, 2021, 19:46:58
That interview by Hodgetts is more of a grilling to Morfuni. Totally different style of interviewing to when he interviews LP

Why isnt he as probing when he has our fearless leader on the radio?


Title: Re: Lee Power
Post by: Jimmy Quinn on Friday, June 4, 2021, 19:49:01
Maybe Power stipulates what questions can be asked and ones he won't answer. Imagine if they opened up the phone lines for us supporters to get into him!


Title: Re: Lee Power
Post by: Berniman on Friday, June 4, 2021, 20:04:01
Hodgetts going all Andrew Marr when interviewing Morfuni but Andi Peters when interviewing Power.  More aggressive tone, challenging answers because “the fans have concerns about that” - what about the concerns we have had with Power over the past 18 months that you haven’t questioned at all.

I never previously had a real problem with Hodgetts, but him turning into a real journalist all of a sudden when sat in front of Clem after 18 months of licking Powers balls has really boiled my piss.  Something very dodgey going on there which has left real bad taste in my mouth.  At least we know where some of the £4M has gone - into brown envelopes by the sounds of it..


Title: Re: Lee Power
Post by: Jimmy Quinn on Friday, June 4, 2021, 20:06:02
I've yet to hear the interview and think it's on BBC Wilts tomorrow afternoon so I'll try and catch it


Title: Re: Lee Power
Post by: Batch on Friday, June 4, 2021, 20:16:01
Quote from: Jimmy Quinn
I've yet to hear the interview and think it's on BBC Wilts tomorrow afternoon so I'll try and catch it


Talk Of The Town - https://www.bbc.co.uk/sounds/play/p09klt3t


Title: Re: Lee Power
Post by: Jimmy Quinn on Friday, June 4, 2021, 20:16:33
Cheers Batch much appreciated


Title: Re: Lee Power
Post by: Costanza on Friday, June 4, 2021, 20:34:04
Hodgetts going all Andrew Marr when interviewing Morfuni but Andi Peters when interviewing Power.  More aggressive tone, challenging answers because “the fans have concerns about that” - what about the concerns we have had with Power over the past 18 months that you haven’t questioned at all.

I never previously had a real problem with Hodgetts, but him turning into a real journalist all of a sudden when sat in front of Clem after 18 months of licking Powers balls has really boiled my piss.  Something very dodgey going on there which has left real bad taste in my mouth.  At least we know where some of the £4M has gone - into brown envelopes by the sounds of it..

Morfuni might have been rattled had he heard something being asked for the first time.


Title: Re: Lee Power
Post by: wokinghamred on Friday, June 4, 2021, 20:57:03
Didn't clubs get something like a 6 month grace period from when accounts were due due to Covid ? would this explain why the stfc and I assume associated companies have not filed accounts as yet.

I thought the court told Power he needed to share the accounts with Clem so he could make a proper bid, but it seems these were not shared so is that not contempt of court not doing what the court says ?

3 months extra - 12 months instead of 9


Title: Re: Lee Power
Post by: Berniman on Friday, June 4, 2021, 21:11:02
Morfuni might have been rattled had he heard something being asked for the first time.

Tru dat


Title: Re: Lee Power
Post by: Nomoreheroes on Friday, June 4, 2021, 22:16:49
For those who can't listen (or are too lazy to click a link! [Grrr!]  ;D):

Morfuni (answering a prickly Shaun Hodgetts):
- Why now? Because supporters, supporters club and podcast have come to him and asked him to
- Resolution on 15th? Hopefully. But in the hands of the court
- What's in it for you? Football is one of his passions as is construction. Both passions combine with STFC. Lot of potential. Been at STFC since 2015 and is passionate about the club. Its a hobby. Will it make Clem money - probably not!
- Is making money the ultimate aim? No. Here for the long term. Hopefully we can turn it around in the long run. We need to make money off the pitch 24/7
- How do you make that money? Hotels, corporate boxes, sports bar, cafe etc. Stadium needs tidying. Presented plans in 2018. Will have an advisory board with supporters groups to determine way forward
- How would the advisory board work? Seat for supporters club and trust plus Don Rogers, CEO, CFO and maybe others.
- Will Steve Myton be on the board? I don't know. Board members would need to be voted on
- CEO & CFO ready? CEO is in the wings. Once appointed we would go through the management structure. John McGreal and assistant would be talked to. Would support him as much as possible. Would also look at management structure to see who has been let go. Hasn't had involvement in letting people go.
- First 100 days? Team on the pitch, management structure, CEO, work out what creditors need to be paid. First priority is getting ready for first game. A lot of work to do to get a team on the pitch.
- How much would stable footing cost? Clem has a rough idea, but needs to do due diligence
- 11th biggest budget last year in L1 according to Jewell: Where would we be in L2? Don't know. Would need to sit down with McGreal and Jewell (but don't know if he would still want to be here) and chief scouts. Make sure we have the right structure to help make us successful. Dont know the budgets at the moment
- McGreal? Haven't met him. We would need to sit down with him and the CEO. See what vision is. He may not want to be here and work with Clem.
- Manager earmarked? Can't comment until Clem meets McGreal. If he comes across well then he may want to stay. Maybe McGreal doesnt want to work with Clem.
- Pathway for young Aussies? Don't care where they come from. We want to be successful. We want good kids from anywhere.
- Long term aspirations? Always dream high. To get there is a long journey. Need good foundation. If we get to Championship, we need to have a good financial basis to make sure we can compete and maintain our place there. There needs to be a lot of tidying up first and fan engagement first
- Axis. Do they do the work at stadiums? We will put a proposal to supporters groups and submit to council. We will put it out to tender. If others can build stadium better than Axis then they will do it. Its not about Clem building a stadium, its about making sure the right people are building the right thing.
- Axis restructuring? We lost a lot of money. 95% was our money. Companies restructure all the time. Thats what we had to do in England to stay in business. There was COVID, we werent making any money. We restructured the management and got rid of some staff. The business is still going. We still have staff and buildings.
- Trust call for boycott? Understand their point of view. We shouldnt hurt the club. Noone is bigger than the club. 142 year history. We want it to be there for another 142 years. Clem doesnt want the club to be hurting. Clem wants the club to prosper.
- Was Robbie Fowler down to his links to Australia? Nothing to do with Clem.
- Did Clem issue a winding up order against the club? No. Why would I want to....(Talk of the Town ends)


Title: Re: Lee Power
Post by: Flashheart on Friday, June 4, 2021, 22:37:01
I've stuck up for Hodgetts a lot, but if he's giving Clem a hard time without doing the same to Power then he can fuck right off!

Having said that I've not heard the interview myself so I'm having to go off what other people are saying. (I'm not lazy, I don't have access out here ;) )


Title: Re: Lee Power
Post by: Redwatchersince76 on Saturday, June 5, 2021, 08:51:48
I've stuck up for Hodgetts a lot, but if he's giving Clem a hard time without doing the same to Power then he can fuck right off!

Having said that I've not heard the interview myself so I'm having to go off what other people are saying. (I'm not lazy, I don't have access out here ;) )

And I am sure that Shaun Hodgetts really cares about what ten or so self-righteous weirdos with an inflated sense of importance think of him, the ‘diehard’ fans who have heroically cancelled there £5 Swindon ifollow subscription to help in the fight to destroy Lee Power, pathetic people.   


Title: Re: Lee Power
Post by: bigbobjoylove on Saturday, June 5, 2021, 09:04:44
And I am sure that Shaun Hodgetts really cares about what ten or so self-righteous weirdos with an inflated sense of importance think of him, the ‘diehard’ fans who have heroically cancelled there £5 Swindon ifollow subscription to help in the fight to destroy Lee Power, pathetic people.   

Hi Shaun!


Title: Re: Re: Lee Power
Post by: horlock07 on Saturday, June 5, 2021, 09:06:03
Maybe Power stipulates what questions can be asked and ones he won't answer. Imagine if they opened up the phone lines for us supporters to get into him!
No self respecting journalist would accept their questions being pre-approved.

Sent from my SM-A125F


Title: Re: Lee Power
Post by: stfcjack on Saturday, June 5, 2021, 09:26:42
Good morning Shaun, hope you’re well mate


Title: Re: Lee Power
Post by: Nemo on Saturday, June 5, 2021, 09:26:43
And I am sure that Shaun Hodgetts really cares about what ten or so self-righteous weirdos with an inflated sense of importance think of him, the ‘diehard’ fans who have heroically cancelled there £5 Swindon ifollow subscription to help in the fight to destroy Lee Power, pathetic people.   

Sensational first post, please do stick around!


Title: Re: Lee Power
Post by: 4D on Saturday, June 5, 2021, 09:45:18
And I am sure that Shaun Hodgetts really cares about what ten or so self-righteous weirdos with an inflated sense of importance think of him, the ‘diehard’ fans who have heroically cancelled there £5 Swindon ifollow subscription to help in the fight to destroy Lee Power, pathetic people.  

Calm down love.

Wierdos  :girlgiggle:


Title: Re: Lee Power
Post by: Legends-Lounge on Saturday, June 5, 2021, 09:47:06
And I am sure that Shaun Hodgetts really cares about what ten or so self-righteous weirdos with an inflated sense of importance think of him, the ‘diehard’ fans who have heroically cancelled there £5 Swindon ifollow subscription to help in the fight to destroy Lee Power, pathetic people.   

Well, if you’re really sure that esteemed BBC hack really cares, then that is fine and dandy. We can all enjoy the week end and sleep safe and sound in our beds knowing what a warm hearted ‘journo’ he really is.


Title: Re: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Saturday, June 5, 2021, 10:08:12
No self respecting journalist would accept their questions being pre-approved.

Sent from my SM-A125F
That probably explains it then!


Title: Re: Re: Lee Power
Post by: Benzel on Saturday, June 5, 2021, 10:18:30
And I am sure that Shaun Hodgetts really cares about what ten or so self-righteous weirdos with an inflated sense of importance think of him, the ‘diehard’ fans who have heroically cancelled there £5 Swindon ifollow subscription to help in the fight to destroy Lee Power, pathetic people. 
Get a load of this guy 😂

Sent from my CLT-L09


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Saturday, June 5, 2021, 10:45:50
This makes for grim reading.

https://twohundredpercent.net/hereford-united-fan-initiatives-gain-momentum/


Title: Re: Lee Power
Post by: Jimmy Quinn on Saturday, June 5, 2021, 10:47:13
Another good away day sadly missed


Title: Re: Lee Power
Post by: Peter Venkman on Saturday, June 5, 2021, 10:52:48
And I am sure that Shaun Hodgetts really cares about what ten or so self-righteous weirdos with an inflated sense of importance think of him, the ‘diehard’ fans who have heroically cancelled there £5 Swindon ifollow subscription to help in the fight to destroy Lee Power, pathetic people.
(https://media2.giphy.com/media/pUeXcg80cO8I8/giphy.gif)

Please give us some more of your "Power Love", its been sadly lacking on this forum since....well...forever.

I couldn't find the Love of Power so this will have to do.

https://www.youtube.com/watch?v=KbIUhSkEPGM


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Saturday, June 5, 2021, 11:03:19
Think I prefer the Frankie Goes to Hollywood version

https://m.youtube.com/watch?v=NyoTvgPn0rU


Title: Re: Lee Power
Post by: Peter Venkman on Saturday, June 5, 2021, 11:06:48
(https://www.azquotes.com/picture-quotes/quote-the-love-of-power-is-the-demon-of-mankind-friedrich-nietzsche-66-9-0951.jpg)


Title: Re: Lee Power
Post by: Batch on Saturday, June 5, 2021, 11:18:28
And I am sure that Shaun Hodgetts really cares about what ten or so self-righteous weirdos with an inflated sense of importance think of him, the ‘diehard’ fans who have heroically cancelled there £5 Swindon ifollow subscription to help in the fight to destroy Lee Power, pathetic people.  

Hodgetts? Dolph? Randford?


Title: Re: Lee Power
Post by: Flashheart on Saturday, June 5, 2021, 11:29:56
There's some oddballs out there for sure.


Title: Re: Lee Power
Post by: 4D on Saturday, June 5, 2021, 11:33:27
.

https://youtu.be/wIiVp3poe2c


Title: Re: Lee Power
Post by: Redwatchersince76 on Saturday, June 5, 2021, 12:07:27
There's some oddballs out there for sure.


And you are the king of them.

I would advice that you do not visit or post on this forum for a week or two, and have a word with yourself. 

However I think you are probably too far gone to abandon your Swindon town command centre, either way I will leave you and the other degenerates to it.



Title: Re: Lee Power
Post by: Legends-Lounge on Saturday, June 5, 2021, 12:09:27
And you are the king of them.

I would advice that you do not visit or post on this forum for a week or two, and have a word with yourself. 

However I think you are probably too far gone to abandon your Swindon town command centre, either way I will leave you and the other degenerates to it.



Seeing as you joined the melee of degenerates on this forum, kinda makes you one of us then don’t you think?


Title: Re: Lee Power
Post by: Batch on Saturday, June 5, 2021, 12:15:23
aaaah, he's gone. I thought he was mad for it


Title: Re: Lee Power
Post by: Jimmy Quinn on Saturday, June 5, 2021, 12:16:55
He's still upset after the Blackpool loss :pint:


Title: Re: Lee Power
Post by: Flashheart on Saturday, June 5, 2021, 12:17:02
Whether he was genuine or just trolling, that was a strange way to behave.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Saturday, June 5, 2021, 12:20:01
‘Degenerate is defined as a person who is immoral, corrupt or sexually perverted.’

I’ll kill all the poor people if you give me a tenner and spread your butt cheeks.


Title: Re: Lee Power
Post by: Nomoreheroes on Saturday, June 5, 2021, 12:22:51
And I am sure that Shaun Hodgetts really cares about what ten or so self-righteous weirdos with an inflated sense of importance think of him, the ‘diehard’ fans who have heroically cancelled there £5 Swindon ifollow subscription to help in the fight to destroy Lee Power, pathetic people.  
It is 'their' £5 as it is possessive. It's not some £5 notes that are 'over there'.





Title: Re: Lee Power
Post by: Jimmy Quinn on Saturday, June 5, 2021, 12:23:44
‘Degenerate is defined as a person who is immoral, corrupt or sexually perverted.’

I’ll kill all the poor people if you give me a tenner and spread your butt cheeks.

That's too in depth and deep for an Oxford supporter to have that knowledge and understanding so god knows what planet he was from.


Title: Re: Lee Power
Post by: Peter Venkman on Saturday, June 5, 2021, 12:25:26
I am pissed off now, I was hoping he would carry on and give me reason to ban him, ruined my Saturday afternoon that!


Title: Re: Lee Power
Post by: Walthams on Saturday, June 5, 2021, 12:57:10
Why would you ban him?
Best read I've had on here for weeks.


Title: Re: Lee Power
Post by: Jimmy Quinn on Saturday, June 5, 2021, 13:01:03
I am pissed off now, I was hoping he would carry on and give me reason to ban him, ruined my Saturday afternoon that!

All we got to look forward to at the moment is the new fixture list later this month!


Title: Re: Lee Power
Post by: Peter Venkman on Saturday, June 5, 2021, 13:04:29
Why would you ban him?
Best read I've had on here for weeks.
I didn't ban him but if he carried on insulting people then I may have.


Title: Re: Lee Power
Post by: Berniman on Saturday, June 5, 2021, 18:35:55
Ha, I didn't realise that Hodgetts had such dedicated fans - based on the content of his 2 posts, I wonder how he managed to get through the process of registering on the site, or even find the power button on his device at that..


Title: Re: Lee Power
Post by: Batch on Saturday, June 5, 2021, 18:39:48
controversial, I didn't find Hodgetts interview too offensive.

it's not the scrutiny that he put Clem under that is the problem. It's the lack of scrutiny on Power - though that chance is gone imo.

nothing original, but a different audience reached


Title: Re: Lee Power
Post by: Berniman on Saturday, June 5, 2021, 18:54:40
controversial, I didn't find Hodgetts interview too offensive.

it's not the scrutiny that he put Clem under that is the problem. It's the lack of scrutiny on Power - though that chance is gone imo.

nothing original, but a different audience reached

Agree 100% - it wasn't the fact that he was over aggressive or anything that caused my piss to boil, more the fact that he doesn't use the same vigour and challenging way when talking to Power, it showed there was an obvious difference.  The manner of this interview is how he should be interviewing the club stewards, not just those outside of the club.


Title: Re: Lee Power
Post by: Jimmy Quinn on Saturday, June 5, 2021, 18:58:18
He's too weary of upsetting Power as he will remember how the Adver pissed him off


Title: Re: Lee Power
Post by: Nemo on Saturday, June 5, 2021, 19:22:00
controversial, I didn't find Hodgetts interview too offensive.

it's not the scrutiny that he put Clem under that is the problem. It's the lack of scrutiny on Power - though that chance is gone imo.

nothing original, but a different audience reached

Absolutely - well within his rights to ask Clem those questions, it's the contrast with his softball "thank you Mr. Power" interviews that raises eyebrows.


Title: Re: Lee Power
Post by: singingiiiffy on Saturday, June 5, 2021, 20:52:34
had any confirmed revelations about power surfaced at the time of the last interview? if not its harsh criticism

I'm sure if power was interviewed now it would be very different to previous


Title: Re: Lee Power
Post by: Crackity Jones on Saturday, June 5, 2021, 20:59:20
controversial, I didn't find Hodgetts interview too offensive.

it's not the scrutiny that he put Clem under that is the problem. It's the lack of scrutiny on Power - though that chance is gone imo.

nothing original, but a different audience reached
Agree. Hodgetts line of questioning to Clem was entirely reasonable and still largely anodyne. Power gets the red carpet simpering


Title: Re: Lee Power
Post by: Nomoreheroes on Sunday, June 6, 2021, 00:09:45
I described Hodgetts as being prickly in this interview. He seized upon words that Clem said and was a bit testy. But, within his rights to do so. Just needs to do the same with Power.


Title: Re: Lee Power
Post by: Moss on Sunday, June 6, 2021, 00:52:03
I described Hodgetts as being prickly in this interview. He seized upon words that Clem said and was a bit testy. But, within his rights to do so. Just needs to do the same with Power.

I will only be satisfied with the interviews of Lee power when he basically says Lee, town fans think you’re a slimey thieving wide boy cunt - what is your response?

Thing is we don’t know what’s going to come out of the woodwork. Clem seems to be a supporters wet dream - a straight forward guy who’s made a few Bob and wants to try his hand at football club  ownership. Fair play. Reminds me a bit of Bill Power who was an upfront QPR fan but seemed open and honest. Clem is however not apparently a fan of any other club which is even better

I trust that the trust have asked a few tough questions of Clem - Shaun hodgetts just seems 

totally irrelevant - not his fault but the media have been cut out by power not speaking to them and Clem talking directly to the trust. I am probably making no sense apologies I am wankered.


Title: Re: Lee Power
Post by: Robinz on Sunday, June 6, 2021, 12:16:57
Moss... as in David ?

I tend to agree with every word of your message


Title: Re: Lee Power
Post by: Frigby Daser on Sunday, June 6, 2021, 13:01:30
I’m bemused by Shaun Hodgetts’ approach. He must love the club - he’s been here forever - but all he seems to do is give a platform to Power whenever he wants it. He doesn’t interview him, he hands the mic over. The soundbites from Power are not challenged. I understand he may have instructions from BBC Swindon to make sure he stays the right side of the line to make sure that they retain access to the club for commentaries (the only plausible explanation?)... but even still - just interview him, and when he talks utter nonsense, don’t just say “thank you Mr Power”.


Title: Re: Lee Power
Post by: Jimmy Quinn on Sunday, June 6, 2021, 13:17:18
Instructions from BBC Wilts and what to ask.....exactly that so won't risk it


Title: Re: Lee Power
Post by: MangoRed on Sunday, June 6, 2021, 13:43:01
Spineless Shaun Hodgetts.

Weasel like questions for years.


Title: Re: Lee Power
Post by: Jimmy Quinn on Sunday, June 6, 2021, 13:45:53
Don't forget he's got a good position at BBC Wilts and been there since the 80's when most have moved on so won't want to rock the boat.


Title: Re: Lee Power
Post by: The Grim Reaper on Sunday, June 6, 2021, 15:01:05
There is always the possibility that Hodgetts is on Powers payroll to just stay stum and be another puppet.


Title: Re: Lee Power
Post by: Jimmy Quinn on Sunday, June 6, 2021, 15:03:26
I would say he's just being a professional in his job working between the guidelines he's probably been given


Title: Re: Re: Lee Power
Post by: horlock07 on Sunday, June 6, 2021, 16:09:57
I understand he may have instructions from BBC Swindon to make sure he stays the right side of the line to make sure that they retain access to the club for commentaries (the only plausible explanation?)...

Aren't rights sold collectively by the FL and have sweet FA to do with the club?


Title: Re: Lee Power
Post by: Jimmy Quinn on Sunday, June 6, 2021, 16:21:14
I don't think the club could stop commentaries but they could be restrictive on media interview etc and only do the bare minimum


Title: Re: Lee Power
Post by: tans on Sunday, June 6, 2021, 16:46:21
Like they already do


Title: Re: Lee Power
Post by: Costanza on Sunday, June 6, 2021, 17:02:34
Fans are looking for the media outlets to step up. This is where the Adver would usually do something but they are in a sad state these days. BBC Wiltshire are probably victims of the lack of journalism elsewhere so this is where their frustrating failings become more apparent.

Shaun Hodgetts is Shaun Hodgetts. From memory he's never been one for these sort of situations (happy to be corrected) and I'm more than sure Morfuni will get the usual Hodgetts treatment if CM wins his legal battle.


Title: Re: Lee Power
Post by: singingiiiffy on Sunday, June 6, 2021, 17:04:18
I’m bemused by Shaun Hodgetts’ approach. He must love the club - he’s been here forever - but all he seems to do is give a platform to Power whenever he wants it. He doesn’t interview him, he hands the mic over. The soundbites from Power are not challenged. I understand he may have instructions from BBC Swindon to make sure he stays the right side of the line to make sure that they retain access to the club for commentaries (the only plausible explanation?)... but even still - just interview him, and when he talks utter nonsense, don’t just say “thank you Mr Power”.

when was the last power interview and when did the power revelations come out?

yes some fans have always wanted power out but without proof and on hear say. was hodgetts meant to scupper close links with the club based on fans who didn't like powers lack of communication?


Title: Re: Lee Power
Post by: Nemo on Sunday, June 6, 2021, 17:07:22
There was an interview after the first court case of the most recent round (February?)

That was the one where he said we would run out of money by the end of the month so had to sell DJ, and that he was the sole owner (after the court had confirmed Clem's 15%)


Title: Re: Lee Power
Post by: Frigby Daser on Sunday, June 6, 2021, 18:52:19
Aren't rights sold collectively by the FL and have sweet FA to do with the club?

That’s probably right. I was speculating. Just trying to find a reason for the odd difference in approach for when he “interviews” the man running the club into the ground, and then interviews the one who might (might!) just save it when there is no other option. I’ve no problem at all with him pressing Morfuni. There are many unknowns. But there are even more unknowns with the current owner, who gets off very lightly.

Don't forget he's got a good position at BBC Wilts and been there since the 80's when most have moved on so won't want to rock the boat.

Or his longevity / seniority could give him authority to ask the questions he wants.   


Title: Re: Lee Power
Post by: Jimmy Quinn on Sunday, June 6, 2021, 18:55:09
All if's & buts which we don't have the answers


Title: Re: Lee Power
Post by: Batch on Sunday, June 6, 2021, 19:30:57
Yeah that's right. Beginning of Feb.

So much happened since then. He has even since claimed that he can continue to fund the club but didn't want to at that time


Title: Re: Lee Power
Post by: Robinz on Sunday, June 6, 2021, 21:57:41
Possibly you are reading the situation incorrectly.
A little saying is Keep close to your friends but even closer to your enemies.
Also. It's not whats said at a meeting that's important...
it's what not said that is  really important




Title: Re: Lee Power
Post by: Robinz on Sunday, June 6, 2021, 22:05:21
Think about it
These are very difficult times for the club and sometimes it's best to simply keep quiet and let the big boys come out to play.
Trouble is Clem Morfuni is by all accounts not a High roller

Some one needs to befriend James Dyson


Title: Re: Lee Power
Post by: Bogus Dave on Sunday, June 6, 2021, 22:40:15
James dyson should take over and do the ground refurb and put a giant fan on top of the town end to suck/blow the ball as is advantageous at the time. A huge giant quiet fan on the town end roof


Title: Re: Lee Power
Post by: Batch on Monday, June 7, 2021, 06:56:09
Quote from: Bogus Dave
James dyson should take over and do the ground refurb and put a giant fan on top of the town end to suck/blow the ball as is advantageous at the time. A huge giant quiet fan on the town end roof

ooooh Dyson wind tunnel.

we'd probably get there in August to find he's moved it to Singapore though


Title: Re: Lee Power
Post by: DV Canio on Monday, June 7, 2021, 08:41:21
I asked.
Dyson has no interest in football.


Title: Re: Lee Power
Post by: Robinz on Monday, June 7, 2021, 09:03:08
Bugger.

Surely someone can catch up with Mark Devlin or Wray ex CEO's of the club and simply request their advice and inputs.

There must be some suitable honest business people who have come into contact with the club in the past and has some passion moving forward. 

Glen Hoddle must be well heeled (although having had a heart event recently) and other ex players

Has Nationwide been really been approached ?

What a mess we find our club in ???   





Title: Re: Lee Power
Post by: Shrivvy Road on Monday, June 7, 2021, 09:06:09
How do we know anyone else will be a better option now? it is a gamble either way so we just have to hope from here on . Wray for what it is worth is half the reason we are in this mess. Let's not forget that


Title: Re: Lee Power
Post by: Robinz on Monday, June 7, 2021, 09:13:38
Has Andrew Fitton disappeared from the region ?
The chap from Supermarine sounds a realistic Swindon supporter although a different colour (Blue)
Just perhaps we have already found our diamond in Clem Morfuni.
Out of interest, does any one have email details of Clem Morfuni ? If so please supply to my person address. Cheers
COYMRs
  
    


Title: Re: Lee Power
Post by: Robinz on Monday, June 7, 2021, 09:23:07
SR... Agreed, Wray was simply not managed by the investor Andrew Black.

I would really like to have a one on one communication with Clem Morfuni direct

Whether by telephone or a zoom meeting.

Same time zone, possibly similar backgrounds and Aquarians to boot.

Come on Clem my offer is open to you.

COYMRs

   


Title: Re: Lee Power
Post by: horlock07 on Monday, June 7, 2021, 09:25:51
Surely someone can catch up with Mark Devlin or Wray ex CEO's of the club and simply request their advice and inputs.

Not sure what either could offer, from recollection Wray was rather implicated in the PdC budget explosion which led to Blacks departure which led via Jed to our present death spiral.


Title: Re: Lee Power
Post by: Peter Venkman on Monday, June 7, 2021, 09:54:44
I would really like to have a one on one communication with Clem Morfuni direct

Whether by telephone or a zoom meeting.
Judging by how many Town fans speak with Clem regularly I don't think its too difficult to contact him.


Title: Re: Lee Power
Post by: Jimmy Quinn on Monday, June 7, 2021, 10:14:01
He probably talks too much


Title: Re: Lee Power
Post by: Peter Venkman on Monday, June 7, 2021, 10:30:25
He probably talks too much
From what I understand his lesson has been well and truly learnt.


Title: Re: Lee Power
Post by: Jimmy Quinn on Monday, June 7, 2021, 10:31:27
Let's hope so!


Title: Re: Lee Power
Post by: Robinz on Monday, June 7, 2021, 10:39:31
JQ....
Interesting comment and could be right.

End of the day, currently it would seem the club has backed it's self into a corner where it has very little options.

[email protected] if it does and [email protected] if it doesn't.

If I were based in UK and 20 years younger I would surely be open to helping the club out. That said, I am not  :cry:

What I can offer is possible open communication with CM and hopefully offering un biased feedback for the betterment of all stakeholders.

What a complete mess STFC finds itself in  :badmood:    

Suggest the only real option currently available is for "Trust"ed supporters to try and manage / endorse a new owner.

This being the case especially as Power has proven on so many occasions he is simply not suitable to be associated to STFC

But again, is this option even on the table ?  


Title: Re: Lee Power
Post by: Jimmy Quinn on Monday, June 7, 2021, 10:48:13
Good post Robinz!!
Buying into a football club is not for the faint hearted and even the Oasis guys backed away from their beloved Man City many years ago as they could see their earnings quickly going!
You're so right the club is a complete shambles at the moment and it needs sorting asap.


Title: Re: Lee Power
Post by: STFC_Manc on Monday, June 7, 2021, 11:49:00
I see that STFC accounts are now overdue on companies house

https://find-and-update.company-information.service.gov.uk/company/00053100


Title: Re: Lee Power
Post by: Jimmy Quinn on Monday, June 7, 2021, 11:51:20
Last minute fiddles need amending😀


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, June 7, 2021, 11:57:15
This ‘missing’ £4m. Clem’s lawyer reckons Power has used it to purchase the debentures owned by Black and Arbib, yet they remain as ‘not satisified’ on the Companies House site.


Title: Re: Lee Power
Post by: Jimmy Quinn on Monday, June 7, 2021, 12:04:47
I bet even Powers Lawyers must be scratching their heads in disbelief


Title: Re: Lee Power
Post by: Robinz on Monday, June 7, 2021, 12:40:57
If anything like currently in NZ. IRD and Company annual returns have an agreed delayed date based on the effects of Covid19.
However agreed not a good sign especially with all the crap that is floating around the club.


Title: Re: Lee Power
Post by: horlock07 on Monday, June 7, 2021, 13:42:02
This ‘missing’ £4m. Clem’s lawyer reckons Power has used it to purchase the debentures owned by Black and Arbib, yet they remain as ‘not satisified’ on the Companies House site.

I don't think they are settled, all Power has done is bought the debt off Black and Arbib (for considerably less than its total value no doubt), thus the club still owes for the debentures alebit the beneficiary is L Power rather than Black and Arbib.


Title: Re: Lee Power
Post by: Pookemon on Monday, June 7, 2021, 14:11:50


Has Nationwide been really been approached ?



Why would nationwide buy a football club?


Title: Re: Lee Power
Post by: chalkies shorts on Monday, June 7, 2021, 14:36:26
Why would nationwide buy a football club?

Particularly one which is a serial financial fuck up. Wouldn't be great pr for them, not even in Swindon.


Title: Re: Lee Power
Post by: The Grim Reaper on Monday, June 7, 2021, 14:52:30
SR... Agreed, Wray was simply not managed by the investor Andrew Black.

I would really like to have a one on one communication with Clem Morfuni direct

Whether by telephone or a zoom meeting.

You can message Clem directly on Linked In. He always replies and I’ve had several conversations with him.

Same time zone, possibly similar backgrounds and Aquarians to boot.

Come on Clem my offer is open to you.

COYMRs

   


Title: Re: Lee Power
Post by: Moss on Monday, June 7, 2021, 15:44:23
I asked.
Dyson has no interest in football.
[/quote

I have no interest in Hoovers but I still bought one.


Title: Re: Lee Power
Post by: 4D on Monday, June 7, 2021, 15:58:01
Hoover's a brand  ;)


Title: Re: Lee Power
Post by: Legends-Lounge on Monday, June 7, 2021, 16:06:19
Ladles and Jellyspoons, the darkest hour is always the one before a new dawn.

The club IS worth something and fighting over. So let us look at this from two angles.

Firstly Mr. Lee Power. Considering he ‘has’ no money and the club ‘is’ insolvent he is putting up a rather determined rearguard legal fight to keep other interested parties away from the club irrespective of their claims, financial or otherwise. We can hazard an educated guess why this is based on a number of historical happenings. In the short term Able ‘buy’ the club and possibly put it into administration or fold it and walk away.

Enter stage right.

Secondly Mr. Morfuni & Mr Standing. They are two of the interested parties that are spearheading a determined legal fight to get what is ‘rightly’ theirs. In this instance to gain back what they are owed and pressing the court to decide in their favour which will take a long term reinvestment and restructuring of the club in ALL forms to achieve and turn a profit of some sort to make this worthwhile.

So however it is looked at the club IS worth something and fighting over. Just a case how long it will take one or the other to achieve their aims. Lee Power is not deaf and blind to the depth of feeling towards him and any business or business associate related to him. He and they do not have any future at this club. Even if say 50% of the average season ticket purchases materialise that will not be enough to sustain a viable league two club, period.

Regards to the likes of Dyson, Nationwide et al, do me a favour. Any major brand or organisation worth the sort of money to catapult this club to the Championship at best wouldn’t touch us with a fucking barge pole. Maybe, just maybe in say, oh I dunno, 5-10 years when we have been run scrupulously and squeakily clean, then that’s a possibility. Now? No chance.


Title: Re: Lee Power
Post by: 4D on Monday, June 7, 2021, 16:16:36
Is Donald Trump a soccer fan?  :sherlock:


Title: Re: Lee Power
Post by: horlock07 on Monday, June 7, 2021, 16:29:32
Is Donald Trump a soccer fan?  :sherlock:

As he doesn't seem able to put a pair of trousers on the right way round I fear it could be a question of frying pan into fire....


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, June 7, 2021, 16:51:00
Is Donald Trump a soccer fan?  :sherlock:
Have you seen the video of him addressing an audience with his trousers on the wrong way round?

Just how do you do that?


Title: Re: Lee Power
Post by: ibelieveinmrreeves on Monday, June 7, 2021, 16:55:34
Have you seen the video of him addressing an audience with his trousers on the wrong way round?

Just how do you do that?

I saw someone mention they looked like elasticated waist trousers that are sometimes worn by dementia sufferers (I have no idea, just repeating what I read). So perhaps easy to do? Another suggestion was he'd had an accident.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, June 7, 2021, 17:03:59
Reports that he’d had an ‘accident’ to the front of his strides.

https://twitter.com/BFriedmanDC/status/1401406435121106947?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1401406435121106947%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fnymag.com%2Fintelligencer%2F2021%2F06%2Ftrump-successfully-wore-pants-correctly-at-rally-report.html


Title: Re: Lee Power
Post by: Legends-Lounge on Monday, June 7, 2021, 20:49:45
I suppose it’s already been disseminated but for ease of my valuable time, can someone say when this weeks court case is? Assuming it is this week?


Title: Re: Lee Power
Post by: Flashheart on Monday, June 7, 2021, 20:52:03
I think it's next week. 15th? Something like that.


Title: Re: Lee Power
Post by: Legends-Lounge on Monday, June 7, 2021, 20:54:48
I think it's next week. 15th? Something like that.

Ok. Stand easy. As you were.


Title: Re: Lee Power
Post by: TheDukeOfBanbury on Monday, June 7, 2021, 22:32:14
I suppose it’s already been disseminated but for ease of my valuable time, can someone say when this weeks court case is? Assuming it is this week?

Next Monday.


Title: Re: Lee Power
Post by: Legends-Lounge on Monday, June 7, 2021, 22:48:39
Next Monday.

👍


Title: Re: Lee Power
Post by: Batch on Tuesday, June 8, 2021, 06:59:40
Quote from: TheDukeOfBanbury
Next Monday.[/quote]

thought it was Tuesday 15th?


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 8, 2021, 07:09:02
Defo 14th.

Birthdays of The Donald and Che Guevara - plus Boy George. Also the date I joined the RAF in 1972!

Good omens?


Title: Re: Lee Power
Post by: tans on Tuesday, June 8, 2021, 08:03:50
Who’s been threatening people on that facebook group then?


Title: Re: Lee Power
Post by: 4D on Tuesday, June 8, 2021, 08:57:58
You?


Title: Re: Lee Power
Post by: Flashheart on Tuesday, June 8, 2021, 09:45:14
Who’s been threatening people on that facebook group then?

 Kostiuk's been threatening people on there for yonks.

From behind the safety of a keyboard, of course.


Title: Re: Lee Power
Post by: 4D on Tuesday, June 8, 2021, 09:52:09
What, fisticuffs?


Title: Re: Lee Power
Post by: Bob's Orange on Tuesday, June 8, 2021, 09:57:46
Kostiuk's been threatening people on there for yonks.

From behind the safety of a keyboard, of course.

There are some proper wazzocks on that group, and he is King dickhead from the snippets I've seen.


Title: Re: Lee Power
Post by: Jimmy Quinn on Tuesday, June 8, 2021, 09:58:52
Just wondering why he's allowed to get away with it and hasn't been banned


Title: Re: Lee Power
Post by: Peter Venkman on Tuesday, June 8, 2021, 10:08:09
Just wondering why he's allowed to get away with it and hasn't been banned
Pretty sure he is the owner/admin of that group.

I have had a couple of run ins with the Walker bloke who is probably even more of a cockwomble, he threatened to "beat me up" :D which fairly made me chuckle.


Title: Re: Lee Power
Post by: Bob's Orange on Tuesday, June 8, 2021, 10:09:32
Just wondering why he's allowed to get away with it and hasn't been banned

Freedom of speech, innit.


Title: Re: Lee Power
Post by: tans on Tuesday, June 8, 2021, 10:32:12
It wasnt him this time. Was some of LP entourage by the looks of it


Title: Re: Lee Power
Post by: horlock07 on Tuesday, June 8, 2021, 10:35:20
It wasnt him this time. Was some of LP entourage by the looks of it

He has an entourage?


Title: Re: Lee Power
Post by: Peter Venkman on Tuesday, June 8, 2021, 10:38:11
He has an entourage?
Oh very much so, mates of "The Dolph".


Title: Re: Lee Power
Post by: Jimmy Quinn on Tuesday, June 8, 2021, 10:44:21
Pretty sure he is the owner/admin of that group.

I have had a couple of run ins with the Walker bloke who is probably even more of a cockwomble, he threatened to "beat me up" :D which fairly made me chuckle.


That bizarre how the owner of a group is a bully and allowed to carry on


Title: Re: Lee Power
Post by: Peter Venkman on Tuesday, June 8, 2021, 10:46:26

That bizarre how the owner of a group is a bully and allowed to carry on

One day he/they will say the wrong thing to the wrong person and it will provoke something, as it stands...I just click on blocking them.


Title: Re: Lee Power
Post by: Flashheart on Tuesday, June 8, 2021, 10:47:28
I really think Walker's on the spectrum. His behaviour is often unusual to say the least.

As for Kostiuk. He's just a bellend.


Title: Re: Lee Power
Post by: Peter Venkman on Tuesday, June 8, 2021, 10:54:45
I really think Walker's on the spectrum. His behaviour is often unusual to say the least.

As for Kostiuk. He's just a bellend.
100%


Title: Re: Lee Power
Post by: 4D on Tuesday, June 8, 2021, 11:01:36
Oh very much so, mates of "The Dolph".

Who?


Title: Re: Lee Power
Post by: Batch on Tuesday, June 8, 2021, 11:10:56
Who?

Ben "Dolph" Gristwood. Was (is) non-exec directory.

Ex nightclub bouncer. Head of security


Title: Re: Lee Power
Post by: Jimmy Quinn on Tuesday, June 8, 2021, 11:17:53
Says it all


Title: Re: Lee Power
Post by: horlock07 on Tuesday, June 8, 2021, 11:36:59
Ben "Dolph" Gristwood. Was (is) non-exec directory.

Ex nightclub bouncer. Head of security

According to club website still is (and must be a reasonably recent appointment as don't recall seeing it previously). So do we now have Directors threatening fans on social media, nice....

Seems to be quite the Boris Johnson fan.


Title: Re: Lee Power
Post by: Jimmy Quinn on Tuesday, June 8, 2021, 11:48:19
I have a mate who works for the constabulary and they despise bouncers


Title: Re: Lee Power
Post by: Flashheart on Tuesday, June 8, 2021, 12:26:28
According to club website still is (and must be a reasonably recent appointment as don't recall seeing it previously). So do we now have Directors threatening fans on social media, nice....


If my memory serves me right, it's the same bloke that threatened Morshead.


Title: Re: Lee Power
Post by: Batch on Tuesday, June 8, 2021, 12:29:51
Quote from: Flashheart
If my memory serves me right, it's the same bloke that threatened Morshead.

allegedly.

luckily my knees are so stuffed any such threats would lead to a much quicker if more painful route to getting them fixed


Title: Re: Lee Power
Post by: Batch on Tuesday, June 8, 2021, 12:30:30
Excellent explanation of how power is trying to shaft Morfuni and Standing here

https://truststfc.tv/court-hearing-pre-emption-rights/


Title: Re: Lee Power
Post by: Jimmy Quinn on Tuesday, June 8, 2021, 12:31:29
Good stuff Batch and thanks for sharing


Title: Re: Lee Power
Post by: Peter Venkman on Tuesday, June 8, 2021, 12:33:22
If my memory serves me right, it's the same bloke that threatened Morshead.
He was, he also used threatening language to a referee after a Port Vale game along with Power a couple of years ago, faced an FA charge but dont know what came of it.

http://www.thefa.com/-/media/files/thefaportal/governance-docs/discipline-cases/2015-part-2/the-fa-v-lee-power---8-september-2015.ashx

Has his fingers in a LOT of pies shall we say.


Title: Re: Lee Power
Post by: Flashheart on Tuesday, June 8, 2021, 12:39:12
Excellent explanation of how power is trying to shaft Morfuni and Standing here

https://truststfc.tv/court-hearing-pre-emption-rights/

Interesting, I wasn't aware of that.

It sounds like the kind of thing that should have laws in place to stop it from happening because it's wide open to abuse otherwise, as is being demonstrated currently.


Title: Re: Lee Power
Post by: Bogus Dave on Tuesday, June 8, 2021, 12:46:31
Hmmm, I don’t know about abuse. Shit and sneaky, yes. But a lot of shit and sneaky things are still legal and fair

Assuming the agreement clem put in place when he bought his shares was forseeing something like this happening and protecting against it. Got to hope it’s up to snuff in the eyes of the court, otherwise it sounds like there’s not much clem can do about it


Title: Re: Lee Power
Post by: TheDukeOfBanbury on Tuesday, June 8, 2021, 12:59:14
Oh very much so, mates of "The Dolph".

Ha ha he can always come around your house to cut down a few trees ;)
Personal security guard, some history and yes connected with the “inner circle.”


Title: Re: Lee Power
Post by: Flashheart on Tuesday, June 8, 2021, 13:00:31
abuse
n   verb 
1   use to bad effect or for a bad purpose.
2   treat with cruelty or violence. Øassault sexually.
3   address in an insulting and offensive way.
n   noun 
1   the improper use of something.
2   cruel and violent treatment. Øsexual assault.
3   insulting and offensive language.

DERIVATIVES
   abuser noun

ORIGIN
   Middle English: via Old French from Latin abus-, abuti 'misuse', from ab- 'away' + uti 'to use'.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 8, 2021, 13:09:31
So, it’s these pre-emption rights that any judge is likely to invoke, thereby forcing Power to sell to Axis only.

If he declines to sell at all under this condition, then the September court case will determine if Standing does own 50% of Power’s shares and, if he does, then Clem+Standing can kick Power out or at least prevent him from having any say in running the club.


Title: Re: Lee Power
Post by: Costanza on Tuesday, June 8, 2021, 13:19:46
I can't wait for Michael Standing to win his 50% so we can move on to the next crisis of 'why does Michael Standing own 50% of a football club that he wasn't allowed to invest in'.

(https://media.tenor.com/images/d936610c7ab637c0c8c7bed796e6a202/tenor.gif)

Neverending.


Title: Re: Lee Power
Post by: Shrivvy Road on Tuesday, June 8, 2021, 13:26:38
I get the feeling that will be dealt with a lot quicker


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 8, 2021, 13:27:37
I think he just wants his money back.

If this pre-emption thing is correct why has it taken 2, about to become 3, court cases to test its validity?


Title: Re: Lee Power
Post by: horlock07 on Tuesday, June 8, 2021, 13:49:47
I get the feeling that will be dealt with a lot quicker

I would suspect that the FA have been undertaking their investigation in parallel with the court case (they requested documents I recall) and I suspect they will rule one way or another fairly sharpish once the legal stuff is sorted.


Title: Re: Lee Power
Post by: Flashheart on Tuesday, June 8, 2021, 13:51:04
I would suspect that the FA have been undertaking their investigation in parallel with the court case (they requested documents I recall) and I suspect they will rule one way or another fairly sharpish once the legal stuff is sorted.

I would not be surprised if they have already made their decision according to which way the ruling goes.


Title: Re: Lee Power
Post by: Costanza on Tuesday, June 8, 2021, 13:51:56
I am cynical when it comes to Football Association and timescales.

Happy to be corrected.


Title: Re: Lee Power
Post by: chalkies shorts on Tuesday, June 8, 2021, 14:02:21
So what's to stop able outbidding Clem for the shares. Either pushes up the money to power or sale to able who come up with some dodgy deal whereby they don't hand over all the money to power and he retains a big interest.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 8, 2021, 14:36:00
Because if Power values the club too high and Clem objects an independent auditor can be appointed to determine the value of the club.

And I doubt Power would want that.


Title: Re: Lee Power
Post by: Samdy Gray on Tuesday, June 8, 2021, 15:13:30
Power seems to have painted himself into a bit of a corner by not understanding the AofA of his own company, I can understand now why Clem seems to think the court case is pretty much a foregone conclusion.



Title: Re: Lee Power
Post by: Shrivvy Road on Tuesday, June 8, 2021, 15:34:24
What does A OF A mean sorry


Title: Re: Lee Power
Post by: horlock07 on Tuesday, June 8, 2021, 15:36:06
What does A OF A mean sorry

Articles of Association


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 8, 2021, 15:37:46
Articles of Association. A set of rules which basically says that when a company has more than 1 owner and he wants to sell- Power - he must offer it to the other shareholders first. He can suggest a price the company is worth but if that price is deemed to be too high the prospective buyer(s) can get the company independently audited and then the lower of the 2 amounts is the price.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 8, 2021, 15:40:41
Power seems to have painted himself into a bit of a corner by not understanding the AofA of his own company, I can understand now why Clem seems to think the court case is pretty much a foregone conclusion.


Which is why I genuinely can’t understand why he is fighting against it. The same goes for whether Standing does or does not own 50%. He must know who owns what. If Standing did give £6m over on a nod and a wink basis I’m beginning to think he deserves to be shafted for being such a prick.


Title: Re: Lee Power
Post by: 4D on Tuesday, June 8, 2021, 15:40:58
Do we know in this case if their Articles of Association are standard or written/agreed specifically by the shareholders/directors?


Title: Re: Lee Power
Post by: Shrivvy Road on Tuesday, June 8, 2021, 15:43:22
Cheers Guys, of course it is.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 8, 2021, 15:49:31
Do we know in this case if their Articles of Association are standard or written/agreed specifically by the shareholders/directors?
I’d imagine if Power couldn’t be arsed to formally give Clem his legally entitled shares for STFC at the outset he’s probably opted for some standard AofA. I’d like to know what paperwork, if any, Standing has to cover his £6m.


Title: Re: Lee Power
Post by: Flashheart on Tuesday, June 8, 2021, 16:31:38
I know it's up to the court, but is the general consensus from my learned fellows on the TEF that power doesn't have a leg to stand on?


Title: Re: Lee Power
Post by: Bob's Orange on Tuesday, June 8, 2021, 16:35:17
I know it's up to the court, but is the general consensus from my learned fellows on the TEF that power doesn't have a leg to stand on?

I'm sure JBZ will be along soon to offer his smart arse pearls of wisdom. As he genuinely seems to know about this stuff.


Title: Re: Lee Power
Post by: 4D on Tuesday, June 8, 2021, 16:42:07
 :naughty:


Title: Re: Lee Power
Post by: Bob's Orange on Tuesday, June 8, 2021, 16:45:04
Or have I been whooshed by a genius conman?


Title: Re: Lee Power
Post by: Costanza on Tuesday, June 8, 2021, 16:45:42
All information throughout this has had a significant Trust slant applied as they endorse Morfuni so even when it becomes a borderline checkmate situation within law, I still find myself thinking 'what's the catch?' etc.

I'm just about content to see what next week brings and see what's left to deal with.


Title: Re: Lee Power
Post by: horlock07 on Tuesday, June 8, 2021, 16:56:44
Which is why I genuinely can’t understand why he is fighting against it. The same goes for whether Standing does or does not own 50%. He must know who owns what. If Standing did give £6m over on a nod and a wink basis I’m beginning to think he deserves to be shafted for being such a prick.

Its not over till its over and all that, he stands to lose big time so will fight tooth and nail, he has shown himself previously able to muddy the waters so maybe hoping it can get so messy others give up.

The strange thing is that he admits he only owns 50% the argument is whether the 50% held in Trust is Standings or Barry's.

Do we know in this case if their Articles of Association are standard or written/agreed specifically by the shareholders/directors?

As it was only ever set up as a holding company I would be amazed if they are anything but off the shelf AoA, add into the mix that when they were established Power was sole shareholder so the matter was probably never even thought of.

I do wonder whether Power might have a claim against his legal advisors if the all falls apart if he was not advised of the implications of getting another shareholder involved....


Title: Re: Lee Power
Post by: Batch on Tuesday, June 8, 2021, 17:30:48
The strange thing is that he admits he only owns 50% the argument is whether the 50% held in Trust is Standings or Barry's.

I though Power's claim was that the £800K cash (from Barry) was for 50% future profits on player sales, and 50% on any increase in club value.

I though Standing's claim was for 50-50 purchase, and the 800k included 50% of share to be held in trust.



Title: Re: Lee Power
Post by: JBZ on Tuesday, June 8, 2021, 17:38:28
I'm sure JBZ will be along soon to offer his smart arse pearls of wisdom. As he genuinely seems to know about this stuff.

In fairness, I have sought to provide helpful/relevant commentary on the proceedings.


Title: Re: Lee Power
Post by: PowerUP on Tuesday, June 8, 2021, 17:41:05
I really think Walker's on the spectrum. His behaviour is often unusual to say the least.

As for Kostiuk. He's just a bellend.

And you think you are right in the head, do you? How deluded can you get, in your case ignorance is definitely bliss, what a tool.


Title: Re: Lee Power
Post by: Berniman on Tuesday, June 8, 2021, 17:54:52
Mr Walker I presume..


Title: Re: Lee Power
Post by: Nemo on Tuesday, June 8, 2021, 18:06:51
Big fan of the 'I know you are you said you are but what am I?' response


Title: Re: Lee Power
Post by: Flashheart on Tuesday, June 8, 2021, 18:09:03
My guess is the same character from a few days ago.


Title: Re: Lee Power
Post by: jayohaitchenn on Tuesday, June 8, 2021, 18:14:16
And you think you are right in the head, do you? How deluded can you get, in your case ignorance is definitely bliss, what a tool.

Just a warning mate, you registered with your work email and I also work for Nationwide.


Title: Re: Lee Power
Post by: Flashheart on Tuesday, June 8, 2021, 18:15:23
lolz


Title: Re: Lee Power
Post by: Crispy on Tuesday, June 8, 2021, 18:21:48
Just a warning mate, you registered with your work email and I also work for Nationwide.

Hahahahahahaha, top work PowerUP


Title: Re: Lee Power
Post by: Bob's Orange on Tuesday, June 8, 2021, 18:23:18
In fairness, I have sought to provide helpful/relevant commentary on the proceedings.

I can't and won't argue against that. I did state you do seem to know your onions when it comes to the legal bits and pieces.


Title: Re: Lee Power
Post by: PowerUP on Tuesday, June 8, 2021, 18:24:34
Just a warning mate, you registered with your work email and I also work for Nationwide.

If you think that is my real name, then you would also believe that I would be thick enough to share everyone personal details with a paypal link.

Thanks for the warning John. 


Title: Re: Lee Power
Post by: PowerUP on Tuesday, June 8, 2021, 18:32:12
My guess is the same character from a few days ago.

My guess is that you are just a very sad person who spends almost all your life on a football forum, I doubt you even give a fuck about the club, you are just passing time while you sit around in your filthy little bangkok bedsit with fuck all else to do each day, you’re a sad waste of space and are fooling no one loser, keep up the important work, lolz


Title: Re: Lee Power
Post by: Berniman on Tuesday, June 8, 2021, 18:44:19
Just a warning mate, you registered with your work email and I also work for Nationwide.

:Ride On Fatbury's Lovestick:


Title: Re: Lee Power
Post by: Red Frog on Tuesday, June 8, 2021, 18:46:31
Just a warning mate, you registered with your work email and I also work for Nationwide.

 :Ride On Fatbury's Lovestick:  :clap:


Title: Re: Lee Power
Post by: Flashheart on Tuesday, June 8, 2021, 18:54:57
If you think that is my real name, then you would also believe that I would be thick enough to share everyone personal details with a paypal link.


So Nationwide IT set up your email address with a fake name?

Ok, then!


Title: Re: Lee Power
Post by: PowerUP on Tuesday, June 8, 2021, 18:56:53
Am I no longer Matthew Walker?

feel free to Contact me @
[email protected]

and feel free to post my IP address too, maybe I really live in Switzerland as well :D, what a bunch of clowns.

LOLZ
 


Title: Re: Lee Power
Post by: PowerUP on Tuesday, June 8, 2021, 19:03:00
So Nationwide IT set up your email address with a fake name?

Ok, then!

No Jamie, I'm just about 1000 times smarter then you, which lets face it, is not that hard.


Title: Re: Lee Power
Post by: Crispy on Tuesday, June 8, 2021, 19:08:33
No Jamie, I'm just about 1000 times smarter then you, which lets face it, is not that hard.

 :Ride On Fatbury's Lovestick: :Ride On Fatbury's Lovestick: :Ride On Fatbury's Lovestick: :Ride On Fatbury's Lovestick: :Ride On Fatbury's Lovestick:


Title: Re: Lee Power
Post by: bennett on Tuesday, June 8, 2021, 19:14:24
What on earth is going on?!


Title: Re: Lee Power
Post by: PowerUP on Tuesday, June 8, 2021, 19:15:32
Home run, I’m out dickwads.

Go on fuckwits, get abusing me in my absence like the clowns you are.


Title: Re: Lee Power
Post by: Crispy on Tuesday, June 8, 2021, 19:16:25
Christ, what a strange stranger fucker you are.


Title: Re: Lee Power
Post by: Batch on Tuesday, June 8, 2021, 19:36:31
I think it's aspergers. Have you ever been evaluated for it Matthew


Title: Re: Lee Power
Post by: Batch on Tuesday, June 8, 2021, 19:51:34
Quote from: jayohaitchenn
Just a warning mate, you registered with your work email and I also work for Nationwide.

wrong nationwide, you scally :)

https://agency.nationwide.com/az/tempe


Title: Re: Lee Power
Post by: 4D on Tuesday, June 8, 2021, 19:55:32
Home run, I’m out dickwads.

Go on fuckwits, get abusing me in my absence like the clowns you are.


The same response as the twat who was posting on here a few weeks ago.  :sherlock:


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 8, 2021, 20:19:04
Is this the same wank puffin who makes up transfer rumours?


Title: Re: Lee Power
Post by: Nemo on Tuesday, June 8, 2021, 20:22:46
Is this the same wank puffin who makes up transfer rumours?

No, that's Tans.


Title: Re: Lee Power
Post by: Flashheart on Tuesday, June 8, 2021, 20:24:57
No, that's Tans.

 :D


Title: Re: Lee Power
Post by: Quagmire on Tuesday, June 8, 2021, 20:30:53
No, that's Tans.

 :D


Title: Re: Lee Power
Post by: Red Frog on Tuesday, June 8, 2021, 20:31:53
I quite enjoy it when the odd fb group troll lurches into our (ahem) green and pleasant land. Reminds me why I never want to go close to their pus-infested pit. Such miserable lives.


Title: Re: Lee Power
Post by: Leggett on Tuesday, June 8, 2021, 21:08:14
What on earth is going on?!

*insert 'walking in the room with pizzas and everything being on fire and in chaos' meme here*


Title: Re: Lee Power
Post by: Shrivvy Road on Tuesday, June 8, 2021, 22:09:12
May be wrong but that isn't Walker posting I'm fairly certain he works at Morrisons


Title: Re: Lee Power
Post by: tans on Tuesday, June 8, 2021, 22:13:31
No, that's Tans.

Evening!


Title: Re: Lee Power
Post by: Samdy Gray on Wednesday, June 9, 2021, 09:04:57
Anyway, back on topic...

As it was only ever set up as a holding company I would be amazed if they are anything but off the shelf AoA, add into the mix that when they were established Power was sole shareholder so the matter was probably never even thought of.

I do wonder whether Power might have a claim against his legal advisors if the all falls apart if he was not advised of the implications of getting another shareholder involved....

For Swinton Reds 20 Ltd they are model articles with amended provisions, freely available to view on Companies House. It's the amended provisions which give the full detail on the pre-emption rights, presumably included/suggested by his legal advisers.


Title: Re: Lee Power
Post by: horlock07 on Wednesday, June 9, 2021, 09:29:59
Anyway, back on topic...

For Swinton Reds 20 Ltd they are model articles with amended provisions, freely available to view on Companies House. It's the amended provisions which give the full detail on the pre-emption rights, presumably included/suggested by his legal advisers.

Beyond my area of expertise but seems strange to add such things for what was a sole shareholder entity, looks to have come back and bitten him on the arse though....


Title: Re: Lee Power
Post by: scillyred on Wednesday, June 9, 2021, 09:33:41
Is this the same wank puffin who makes up transfer rumours?

Wash your mouth out you Great Greek Bustard  :smugfu:


Title: Re: Lee Power
Post by: 4D on Wednesday, June 9, 2021, 09:36:19
You mean Audonis  :)


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, June 9, 2021, 10:12:56
Beyond my area of expertise but seems strange to add such things for what was a sole shareholder entity, looks to have come back and bitten him on the arse though....
The one thing I really don’t understand is why Power let Clem buy 15% in the first place. For £1.1m it's landed him in a whole heap of shit. He must have thought he had all his bases covered when he was ready to get the hell out of Dodge with a great bag of swag.


Title: Re: Lee Power
Post by: Shrivvy Road on Wednesday, June 9, 2021, 12:15:16
The one thing I really don’t understand is why Power let Clem buy 15% in the first place. For £1.1m it's landed him in a whole heap of shit. He must have thought he had all his bases covered when he was ready to get the hell out of Dodge with a great bag of swag.
He probably wanted a quick fix and thought he could fuck him over easily


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Thursday, June 10, 2021, 05:31:25
For anyone interested STFC are a subject of discussion on The Price of Football podcast today.

Edit. Just listened. Don’t bother. The only thing I wasn’t aware of was that Standing reckons the club owes him £7.5m - that’s the entire value of the club! Power reckons it’s £3.2m but the ‘missing’ £4m is also Standings - according to him, anyway.


Title: Re: Lee Power
Post by: Power to people on Thursday, June 10, 2021, 12:39:56
The one thing I really don’t understand is why Power let Clem buy 15% in the first place. For £1.1m it's landed him in a whole heap of shit. He must have thought he had all his bases covered when he was ready to get the hell out of Dodge with a great bag of swag.

£1.1m from someone that wanted 15% no voting rights at the time, no accounts etc, at the time everything was fine they was all buddys, Power probably rubbed his hands.

Its only in recent times there has been a falling out when clem wanted his share certificate, and then even further when Clem decided he wanted to buy stfc, and you would guess the purchase price is along the lines of what 15% was worth.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Thursday, June 10, 2021, 12:53:42
Yeah. That £1.1m has set the benchmark. Probably even lower when you compare the club now to when he actually bought his 15%.


Title: Re: Lee Power
Post by: horlock07 on Thursday, June 10, 2021, 12:55:52
Power reckons it’s £3.2m but the ‘missing’ £4m is also Standings - according to him, anyway.

Does Power give any indication of where this missing £4m is, has he looked down the side of the settee


Title: Re: Lee Power
Post by: Peter Venkman on Thursday, June 10, 2021, 12:58:54
Does Power give any indication of where this missing £4m is, has he looked down the side of the settee
Or in the launderette ;)


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Thursday, June 10, 2021, 12:59:31
As far as he’s concerned, it isn’t missing at all. He knows exactly where it is!

All these vague answers in court - or no answers at all - and his solicitor seeming not to have been given relevant info from her client surely means the judge won’t be fobbed off by Power’s bullshitting. Maybe he’s playing for time. Get the Twine and Odimayo money in and then fuck off.


Title: Re: Lee Power
Post by: bamboonoclue on Thursday, June 10, 2021, 18:32:59
Just caught up on some of the carnage of "Mr. Nationwide" a few pages back.

Does this poster frequent the area of Andover by any chance?!  :hmmm:


Title: Re: Lee Power
Post by: Bogus Dave on Thursday, June 10, 2021, 18:38:35
He’s a smaller scale pitbull


Title: Re: Lee Power
Post by: Batch on Thursday, June 10, 2021, 18:42:24
Quote from: bamboonoclue
Just caught up on some of the carnage of "Mr. Nationwide" a few pages back.

Does this poster frequent the area of Andover by any chance?!  :hmmm:

I think he's from near Scottsdale, Arizona


Title: Re: Lee Power
Post by: bamboonoclue on Thursday, June 10, 2021, 19:05:08
I think he's from near Scottsdale, Arizona

What in the what of what's would they be doing posting on here?

Exiled Gamboge? (that's hue of yellow, good for sunsets, sorry folks).
or
Exiled Lee Power uphill gardener?

Perhaps a mysterious ABLE backer? I still think ABLE actually stands for "America Be Lee's Exit".


Title: Re: Lee Power
Post by: Batch on Thursday, June 10, 2021, 19:15:47
or just someone who moved there from here.

might be wrong about who he is


Title: Re: Lee Power
Post by: Flashheart on Thursday, June 10, 2021, 19:17:48
or just someone who moved there from here.

might be wrong about who he is

I know why you think that and I don't think it is him.


Title: Re: Lee Power
Post by: Batch on Thursday, June 10, 2021, 19:28:37
fair enough flash, I trust your judgement


Title: Re: Lee Power
Post by: Flashheart on Thursday, June 10, 2021, 19:45:18
fair enough flash, I trust your judgement

I wouldn't, I'm always getting stuff wrong.


Title: Re: Lee Power
Post by: otanswell on Friday, June 11, 2021, 02:37:36
Probably some chump hiding behind a VPN


Title: Re: Lee Power
Post by: ThreeDrawsMentality on Friday, June 11, 2021, 08:17:54
Know there's been a handful of Adver articles with new interviews with Morfuni behind their premium paywall. Anything interesting of note for us non premium folk?


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Friday, June 11, 2021, 10:37:58
Not really. He’s done a pretty good charm offensive. With the next round of court cases on Monday, hopefully things will be clearer/sorted by then.


Title: Re: Lee Power
Post by: Power to people on Friday, June 11, 2021, 12:44:39
Not really. He’s done a pretty good charm offensive. With the next round of court cases on Monday, hopefully things will be clearer/sorted by then.

Are you forgetting we are Swindon ?

Nothing is every clear with this club.....hopefully the future will be clearer though


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Friday, June 11, 2021, 16:31:25
Before the last court case last month there was a link put up for the proceedings. I’ve had a look - without knowing what I’m looking for, tbh - and can’t find any evidence there is a case being heard on Monday.

Maybe it’s been called off and things are settled.

More likely I can’t tell my arse from my elbow


Title: Re: Lee Power
Post by: singingiiiffy on Friday, June 11, 2021, 16:56:28
I just can't get my head around appointing a manager and signing players. it is obviously a good thing and needed but who is doing it? didn't clem say he would keep the manager in place inferring power appointment


Title: Re: Lee Power
Post by: Tails on Friday, June 11, 2021, 17:05:40
Sorry proper friend of a friend stuff this but...

A mate of mine who knows a sponsor is apparently saying Powers sold up or in the process of selling up. Anyone else heard anything similar?


Title: Re: Lee Power
Post by: ThreeDrawsMentality on Friday, June 11, 2021, 17:07:33
To fuel the fire...there is no Standing Vs Power case listed for Monday...


Title: Re: Lee Power
Post by: Hunk on Friday, June 11, 2021, 17:08:38
The signing of two players and the above mentioned apparent lack of a court case on Monday bode well...one hopes


Title: Re: Lee Power
Post by: Bob's Orange on Friday, June 11, 2021, 17:09:20
To fuel the fire...there is no Standing Vs Power case listed for Monday...

Isn't it on Tuesday?


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Friday, June 11, 2021, 17:13:33
At the last hearing it was down for the 14th.


Title: Re: Lee Power
Post by: Bob's Orange on Friday, June 11, 2021, 17:14:53
At the last hearing it was down for the 14th.

Either way, from what you are saying it seems odd there is no link to it like before?


Title: Re: Lee Power
Post by: Flashheart on Friday, June 11, 2021, 17:15:43
Isn't it on Tuesday?

Possibly.

They said it would be the 14th or 15th. They said in the hearing that they could not confirm at the time and would have to confirm it later... or something like that.


Title: Re: Lee Power
Post by: Flashheart on Friday, June 11, 2021, 17:16:34
Sorry proper friend of a friend stuff this but...

A mate of mine who knows a sponsor is apparently saying Powers sold up or in the process of selling up. Anyone else heard anything similar?

Good, god, I hope your friend of a friend is right.


Title: Re: Lee Power
Post by: ThreeDrawsMentality on Friday, June 11, 2021, 17:18:36
Believe the case lists are only published on gov.uk ahead of the next working day, so if it is on Tuesday, we won't know for sure until Monday afternoon when the next list is published I believe. I think you can pay a subscription fee of some sorts to get a list more in advance.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Friday, June 11, 2021, 17:19:26
The next hearing - 14th/15th June.

Final hearing - September.

Although the judge did make it quite clear at the end that power could choose to sell to AXIS in the meantime if he doesn't want to keep on funding the club for another 3 months.
That’s the best I can dig up from last month.


Title: Lee Power
Post by: Batch on Friday, June 11, 2021, 17:34:56
They pencilled in 15th at the last hearing. At least that's what I wrote down when listening

So as ThreeDraws says, it'll be Monday before we know for sure

it's not Monday anyway :)


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Friday, June 11, 2021, 17:37:13
I’ve looked for though the gov.uk site and there is a list of cases available to view. Standing v Power is not one of them.

I may, of course, have been looking in completely the wrong place.


Title: Re: Lee Power
Post by: Batch on Friday, June 11, 2021, 17:38:38
this one Aud?

https://www.gov.uk/government/publications/business-and-property-courts-rolls-building-cause-list/business-and-property-courts-of-england-and-wales-cause-list


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Friday, June 11, 2021, 17:40:12
Not exactly the same. What kind of court is it in?


Title: Re: Lee Power
Post by: blinkpip on Friday, June 11, 2021, 17:44:05
Surely what ever happens next week will decide what's happening with the season ticket refunds and renewals.
Must be the last Club in the football league that has decided nowt.


Title: Re: Lee Power
Post by: tans on Friday, June 11, 2021, 17:50:36
I emailed the court earlier asking when it was, not had a reply back yet


Title: Re: Lee Power
Post by: Batch on Friday, June 11, 2021, 17:51:12
ST - thing is unless power has been bluffing, it looks like it's going to September.


Title: Re: Lee Power
Post by: Tails on Friday, June 11, 2021, 18:01:07
Good, god, I hope your friend of a friend is right.

Me too. Got a feeling someones jumped the gun and got over excited. That's why I asked if anyone else had heard similar!


Title: Re: Lee Power
Post by: TheDukeOfBanbury on Friday, June 11, 2021, 19:45:55
They pencilled in 15th at the last hearing. At least that's what I wrote down when listening

So as ThreeDraws says, it'll be Monday before we know for sure

it's not Monday anyway :)

Was always the 15th , day before the fishing season. Mentioned Monday a week back but definitely 15th thus Tuesday. Hope it’s not adjourned.


Title: Lee Power
Post by: Batch on Friday, June 11, 2021, 19:54:21
Quote
.  Hope it’s not adjourned.
The judge seemed to be understanding of the urgency, so I reckon Power has his work cut out playing that card.

I do worry he has found money that might negate that urgency though


Title: Re: Lee Power
Post by: Power to people on Sunday, June 13, 2021, 16:37:36
The judge seemed to be understanding of the urgency, so I reckon Power has his work cut out playing that card.

I do worry he has found money that might negate that urgency though

He has sold Waterford - hopefully that does not enable him to say he now has the money to fund the club.

I don't get him wanting to fund the club though if he wants to sell - only to p1ss Clem of more by not selling to him


Title: Re: Lee Power
Post by: Shrivvy Road on Monday, June 14, 2021, 10:03:44
Do we know if it is listed for tomorrow still


Title: Re: Lee Power
Post by: Batch on Monday, June 14, 2021, 10:14:47
Quote from: Shrivvy Road
Do we know if it is listed for tomorrow still

**if** I'm looking in the right place. the court list for tomorrow isn't up yet

I'm looking here:
https://www.gov.uk/government/publications/business-and-property-courts-rolls-building-cause-list/business-and-property-courts-of-england-and-wales-cause-list


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, June 14, 2021, 10:29:35
https://www.gov.uk/government/publications/business-and-property-courts-rolls-building-cause-list/business-and-property-courts-of-england-and-wales-cause-list#property-trusts-and-probate-chancery-division

Think section 15 is the one to keep an eye on if it’s the same as the last hearing.

Looks like the followings day’s hearings get published from about 2.30pm onwards


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, June 14, 2021, 14:57:25
10.30 tomorrow

Not sure what the difference is, but this one is an Application Hearing as against the previous Directions Hearing


Title: Re: Lee Power
Post by: skiptotheLouMacari on Monday, June 14, 2021, 15:07:37
10.30 tomorrow

Not sure what the difference is, but this one is an Application Hearing as against the previous Directions Hearing

What does that mean please?
I know very little about not very much.
Thanks


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, June 14, 2021, 15:09:45
No idea, tbh. Hope someone could enlighten us.



Title: Re: Lee Power
Post by: PowerUP on Monday, June 14, 2021, 15:23:06
It means you are a bunch of sad old cunts, Flashheart especially.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, June 14, 2021, 15:24:20
Informative and helpful. Thanks, Lee


Title: Re: Lee Power
Post by: skiptotheLouMacari on Monday, June 14, 2021, 15:26:12
Hopefully because it makes absolutely no sense to me.
Fingers crossed Power is selling up but he has signed a boss and 2 players, is he serious about staying on?
I wouldn't be surprised if he is using Ables money as his own, how can he say we're near insolvency then hire staff and players. It's not Where's the money gone it's more Where's the money coming from?


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, June 14, 2021, 15:28:54
Well, he can’t play the ‘poor card’ at the hearing any more.


Title: Re: Lee Power
Post by: Flashheart on Monday, June 14, 2021, 15:35:21
I still wonder if he might be in contempt of court for dragging us through all these court shenanigans only to then claim he can fund the club.

He told that court he can't afford to and needs to sell or go into admin. Either he's found the magic money tree since, or he lied to the court. I know where my bet would go.


Title: Re: Lee Power
Post by: ron dodgers on Monday, June 14, 2021, 15:35:42
I'm fully expecting a Norwich Pharmacal Order to pop up tomorrow, legal bingo!!!


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, June 14, 2021, 15:37:12
I'm fully expecting a Norwich Pharmacal Order to pop up tomorrow, legal bingo!!!
I have no idea what that means


Title: Re: Lee Power
Post by: horlock07 on Monday, June 14, 2021, 15:52:05
I assume (stating the sodding obvious) that an applications hearing is when the court makes a decision on something that either party has applied for, being a force of sale (from Clems side) or removal of the injunction preventing sale (from Powers side)?


Title: Re: Lee Power
Post by: Flashheart on Monday, June 14, 2021, 15:55:48
So, it might be D-day?


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, June 14, 2021, 16:04:52
I assume (stating the sodding obvious) that an applications hearing is when the court makes a decision on something that either party has applied for, being a force of sale (from Clems side) or removal of the injunction preventing sale (from Powers side)?
I’d say, knowing nothing, that Power’s ‘application’ has already been in for months - either Able sale or Admin - so that hasn’t  changed. I’m hoping the application is Clem’s to force a sale.

Surely the Trust must know - being so close to Clem.


Title: Re: Lee Power
Post by: Batch on Monday, June 14, 2021, 16:22:06
where's JB(z) when you need him


Title: Re: Lee Power
Post by: horlock07 on Monday, June 14, 2021, 16:22:42
I’d say, knowing nothing, that Power’s ‘application’ has already been in for months - either Able sale or Admin - so that hasn’t  changed. I’m hoping the application is Clem’s to force a sale.

Surely the Trust must know - being so close to Clem.

Who knows, from experience I fear nowt will change tomorrow!


Title: Re: Lee Power
Post by: Batch on Monday, June 14, 2021, 16:24:57
Quote from: Flashheart
I still wonder if he might be in contempt of court for dragging us through all these court shenanigans only to then claim he can fund the club.
 

probably not, surely the issue at hand is whether Standing owns 50% of the holding, holding co, and whether Power can get the injunction lifted and shaft the pre-emption rights.

imo, obvs


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, June 14, 2021, 16:29:58
I didn’t think these hearings were deciding the ownership side of things. I thought it was about stopping Power flogging the club without he say so of Clem/Standing or putting the club in admin.


Title: Re: Lee Power
Post by: Flashheart on Monday, June 14, 2021, 16:33:39
I didn’t think these hearings were deciding the ownership side of things. I thought it was about stopping Power flogging the club without he say so of Clem/Standing or putting the club in admin.

Yep.


Title: Re: Lee Power
Post by: JBZ on Monday, June 14, 2021, 16:54:01
where's JB(z) when you need him

Having been de-lounged and had my STFC credentials questioned, I am taking a back seat on this. :cry:


Title: Re: Lee Power
Post by: tans on Monday, June 14, 2021, 17:04:17
The trust sent me this after i asked..

From our Legal contact:

"It's a hearing that isn’t a full trial to make decisions, but to make the trial more efficient, manage the case, or for questions of law that don’t need a trial to decide."

Until we get an idea of tomorrow's agenda, can't say much more


Title: Re: Lee Power
Post by: Flashheart on Monday, June 14, 2021, 17:06:32
Having been de-lounged and had my STFC credentials questioned, I am taking a back seat on this. :cry:

So you're sulking, then?


Title: Lee Power
Post by: Batch on Monday, June 14, 2021, 17:07:08
Quote
I didn’t think these hearings were deciding the ownership side of things. I thought it was about stopping Power flogging the club without he say so of Clem/Standing or putting the club in admin.
Unless something unexpected happens, they will see a date for the full trial in Standing v Power PT-2019-000964, i.e. the (holding co's holding co) ownership battle

It may also extend the injunction preventing STFCs sale until full trial to head off any shenanigans.

it could also force a sale. However with Waterford's liabilities removed and with the FC apparently trading, I'd suggest Power will avoid this


Title: Re: Lee Power
Post by: JBZ on Monday, June 14, 2021, 17:07:38
So you're sulking, then?

Yep ;D


Title: Re: Lee Power
Post by: Flashheart on Monday, June 14, 2021, 17:10:12
Furry muff.


Title: Re: Lee Power
Post by: Hunk on Monday, June 14, 2021, 18:25:39
Yep ;D

Don’t blame you in the slightest


Title: Re: Lee Power
Post by: FreddySTFC! on Monday, June 14, 2021, 18:38:15
Having been de-lounged and had my STFC credentials questioned, I am taking a back seat on this. :cry:

By being delounged I'm assuming you mean you have been booted out of the private section of this forum?


Title: Re: Lee Power
Post by: Legends-Lounge on Monday, June 14, 2021, 18:46:35
By being delounged I'm assuming you mean you have been booted out of the private section of this forum?

Nothing to do with me M’lud.


Title: Re: Lee Power
Post by: RobertT on Monday, June 14, 2021, 18:48:54
Maybe he meant delousing?


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Monday, June 14, 2021, 20:49:23
Got a definitive explanation regarding the 2 different hearings.

‘A directions hearing is ordered by the court to get the parties together to discuss how to move proceedings forward. An app hearing is to discuss a parties application made to the court.’

As Power’s applications - Admin and Able sale - have already been knocked by the judge at previous hearings, I can only presume this is a new application and almost certainly by Standing/Axis.

I presume if Power wanted to he could just carry on running the club until the hearing in September without needing the permission of the judge to do so.


Title: Re: Lee Power
Post by: Batch on Monday, June 14, 2021, 20:57:06
this date was already pencilled in at the end of the last one.

I think it's just a continuation


Title: Re: Lee Power
Post by: kirky69 on Monday, June 14, 2021, 22:06:58
Please can someone give me a link to access the court hearing tomorrow -   please DM me if dont want to make public. Thanks.


Title: Re: Lee Power
Post by: Batch on Monday, June 14, 2021, 22:28:55
Quote from: kirky69
Please can someone give me a link to access the court hearing tomorrow -   please DM me if dont want to make public. Thanks.

applied for one, not got it yet


Title: Re: Lee Power
Post by: kirky69 on Monday, June 14, 2021, 23:34:49
applied for one, not got it yet

How did you apply Batch? Again DM if you prefer. Thanks.


Title: Re: Lee Power
Post by: Batch on Tuesday, June 15, 2021, 07:35:28
via email as per instructions here:

https://www.gov.uk/government/publications/business-and-property-courts-rolls-building-cause-list/business-and-property-courts-of-england-and-wales-cause-list

search for 'standing' and the instructions are above the section. I emailed the chancery email address but only got an auto reply about document submissions..


Title: Re: Lee Power
Post by: Flashheart on Tuesday, June 15, 2021, 09:22:50
via email as per instructions here:

https://www.gov.uk/government/publications/business-and-property-courts-rolls-building-cause-list/business-and-property-courts-of-england-and-wales-cause-list

search for 'standing' and the instructions are above the section. I emailed the chancery email address but only got an auto reply about document submissions..

Same here.

If anybody does manage to get a link, would be appreciated if they could send me one.


Title: Re: Lee Power
Post by: Legends-Lounge on Tuesday, June 15, 2021, 09:32:02
What time is the saga starting? And could those following it please post any significant bullets. Thanks in advance.


Title: Re: Lee Power
Post by: Panda Paws on Tuesday, June 15, 2021, 09:36:16
What time is the saga starting? And could those following it please post any significant bullets. Thanks in advance.

Please remember that reporting on the case before it's concluded is in contempt of court. Sharing updates is illegal.

The Trust (and the media) will share thoughts and commentary as quickly as possible after the case has concluded for the day.


Title: Re: Lee Power
Post by: Batch on Tuesday, June 15, 2021, 09:41:19
Quote from: Legends-Lounge
What time is the saga starting? And could those following it please post any significant bullets. Thanks in advance.

10:30, and not until after as per PPs post


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 15, 2021, 10:07:08
That’s what The Lounge is for, no?


Title: Re: Lee Power
Post by: kirky69 on Tuesday, June 15, 2021, 10:11:17
Same here.

If anybody does manage to get a link, would be appreciated if they could send me one.

Ditto. Thanks.


Title: Re: Lee Power
Post by: Lethbridge70 on Tuesday, June 15, 2021, 10:18:48
Are we expecting the can to be kicked down the road again by Power??

I do hope the judge sees right through Power,especially if Power can now miraculously manage to so say finance the club,when we were  insolvent not long ago.

This needs sorting once and for all ASAP or I fear National League football very soon.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 15, 2021, 11:10:19
Steve Anderson late turning up for court!

Can’t beat the professionals running our club - for now.


Title: Re: Lee Power
Post by: Costanza on Tuesday, June 15, 2021, 11:13:23
Steve Anderson late turning up for court!

Can’t beat the professionals running our club - for now.

He wasn't late. He was in attendance at 1030, left and returned.


Title: Re: Lee Power
Post by: horlock07 on Tuesday, June 15, 2021, 11:14:07
Is there a link anywhere please?


Title: Re: Lee Power
Post by: Shrivvy Road on Tuesday, June 15, 2021, 11:17:49
He wasn't late. He was in attendance at 1030, left and returned.
Popped out to bring the bins in


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 15, 2021, 11:19:53
Forgot his homework?


Title: Re: Lee Power
Post by: Boy About Town on Tuesday, June 15, 2021, 11:42:47
If anyone has a link then I would be keen to tune in whilst I write reports.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 15, 2021, 11:44:19
You’re way too late for a link. Needed to apply for one yesterday.


Title: Re: Lee Power
Post by: MangoRed on Tuesday, June 15, 2021, 11:46:20
Utter Nonsense. asked this morning and got one. Will message you now mate (Boy About Town) with link ^


Title: Re: Lee Power
Post by: Berniman on Tuesday, June 15, 2021, 12:01:04
Why anyone would want to sit through that all day is beyond me - you guys must have way too much time on your hands.  I get Rich listening for "journalistic" reasons, and so that he can inform me later of the impotant bits :D

I am happy just hearing about the key points from the Trust or LSP.


Title: Re: Lee Power
Post by: MangoRed on Tuesday, June 15, 2021, 12:10:57
Why anyone would want to sit through that all day is beyond me - you guys must have way too much time on your hands.  I get Rich listening for "journalistic" reasons, and so that he can inform me later of the impotant bits :D

I am happy just hearing about the key points from the Trust or LSP.

Each to their own.

I feel like if you are capable and competent enough to absorb what's said its an interesting listen, especially with our clubs future being in serious danger.


Title: Re: Lee Power
Post by: tans on Tuesday, June 15, 2021, 12:11:59
I switched it off, its above my level of intellect


Title: Re: Lee Power
Post by: bathford on Tuesday, June 15, 2021, 12:19:34
If you have the time to listen, it really is quite interesting.

It’s just arguing in legal terms.

This could be completed today!


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 15, 2021, 12:22:11
Is it something like this

https://m.youtube.com/watch?v=6xi-agPf95M


Title: Re: Lee Power
Post by: horlock07 on Tuesday, June 15, 2021, 12:23:11

This could be completed today!

Sounds promising.....


Title: Re: Lee Power
Post by: Batch on Tuesday, June 15, 2021, 12:29:31
Quote from: bathford
If you have the time to listen, it really is quite interesting.

I agree.

the judge is sharp as tack.

I think the basics of the arguments are straightforward, but as ever the devil is in the legalese detail.

will comment more when it's possible


Title: Lee Power
Post by: Batch on Tuesday, June 15, 2021, 12:32:16
this isn't all going to be done and dusted today.


Title: Re: Lee Power
Post by: Samdy Gray on Tuesday, June 15, 2021, 12:34:57
bathford really shouldn't be posting details until proceedings have finished...


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 15, 2021, 12:36:41
this isn't all going to be done and dusted today.
Maybe not he knock out blow we were all hoping for, but surely he must be taking a Standing count!


Title: Lee Power
Post by: Batch on Tuesday, June 15, 2021, 12:38:47
Quote
So, if Power has 85% and, according to our esteemed leader, Axis has 13% - who has the other 2%?
axis have 15%, power 85%

this isn't a comment on the trial, just fact


Title: Re: Lee Power
Post by: Peter Venkman on Tuesday, June 15, 2021, 12:40:03
All comments regarding the case before the case is finished will be deleted, thank you for not posting during the trial.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 15, 2021, 12:41:32
axis have 15%
Not according to Le Grand Fromage


Title: Lee Power
Post by: Batch on Tuesday, June 15, 2021, 12:42:23
Quote
Not according to Le Grand Fromage
you're mistaken. it's logged in companies house.

I'll comment more after the trial


Title: Re: Lee Power
Post by: horlock07 on Tuesday, June 15, 2021, 12:55:41
you're mistaken. it's logged in companies house.

I'll comment more after the trial

Indeed, see https://find-and-update.company-information.service.gov.uk/company/08462753/filing-history and specifically Confirmation Statement dated 15th August 2019.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 15, 2021, 13:00:30
So his argument was easily shot down in flames.

Last man Standing!


Title: Re: Lee Power
Post by: Berniman on Tuesday, June 15, 2021, 13:01:12
Each to their own.

I feel like if you are capable and competent enough to absorb what's said its an interesting listen, especially with our clubs future being in serious danger.

I am capable and competent enough, I just prefer to absord other things as I am fully aware that ~80% of what is being said is repeated or not really informative.  Would much rather deal with my court cases in the same way as I do with non-England games - watch the highlights


Title: Re: Lee Power
Post by: Batch on Tuesday, June 15, 2021, 13:03:17
Quote from: The Artist Formerly Known as Audrey
So his argument was easily shot down in flames.

Last man Standing!

no, you are still misunderstanding


Title: Re: Lee Power
Post by: Tails on Tuesday, June 15, 2021, 13:38:49
If any of you are David Rowden, please turn your camera off!


Title: Re: Lee Power
Post by: Batch on Tuesday, June 15, 2021, 13:43:34
Quote from: Tails
If any of you are David Rowden, please turn your camera off!

hehe. he has now


Title: Re: Lee Power
Post by: Berniman on Tuesday, June 15, 2021, 13:48:08
Come on David, own up :D


Title: Re: Lee Power
Post by: Flashheart on Tuesday, June 15, 2021, 13:49:34
Hannah looks as though she could do with a drink.


Title: Re: Lee Power
Post by: Legends-Lounge on Tuesday, June 15, 2021, 14:01:42
Hannah looks as though she could do with a drink.
Who is she?


Title: Re: Lee Power
Post by: tans on Tuesday, June 15, 2021, 14:02:03
Powers legal counsel


Title: Re: Lee Power
Post by: Quagmire on Tuesday, June 15, 2021, 14:03:49
Hannah looks as though she could do with a drink.

I would though.


Title: Re: Lee Power
Post by: bathford on Tuesday, June 15, 2021, 14:04:05
Hannah looks as though she could do with a drink.

Ok, it has to be asked. Would one?


Title: Re: Lee Power
Post by: Legends-Lounge on Tuesday, June 15, 2021, 14:11:54
Powers legal counsel

Poor woman.


Title: Re: Lee Power
Post by: Flashheart on Tuesday, June 15, 2021, 14:16:24
Ok, it has to be asked. Would one?

Absofuckinglutely I would.


Title: Re: Lee Power
Post by: Shrivvy Road on Tuesday, June 15, 2021, 14:19:48
The information she has been provided with on the back of a fag packet by the sound of it. Boris was more coherant


Title: Re: Lee Power
Post by: Tails on Tuesday, June 15, 2021, 14:20:23
Come on David, own up :D

He looked like he was really enjoying those cookies. Good on ya Dave


Title: Re: Lee Power
Post by: horlock07 on Tuesday, June 15, 2021, 14:21:04
I feel for the lass, even in the much earlier hearing I sat through she seemed to have very little clear information from her client and it starts getting embarrassing with your professional peers when you appear so poorly prepared.


Title: Re: Lee Power
Post by: Flashheart on Tuesday, June 15, 2021, 14:23:19
I feel for the lass, even in the much earlier hearing I sat through she seemed to have very little clear information from her client and it starts getting embarrassing with your professional peers when you appear so poorly prepared.

She could be a very good lawyer for all we know. She's been left trying to polish a turd


Title: Re: Lee Power
Post by: JoeMezz on Tuesday, June 15, 2021, 14:24:08
Not tuned and I know there’s limits to how much people can discuss, but is it going positively for us?


Title: Re: Lee Power
Post by: Shrivvy Road on Tuesday, June 15, 2021, 14:38:31
In no way am i commenting on the case but i will say it's looking likely i will change my mind and go to home games this year


Title: Re: Lee Power
Post by: Quagmire on Tuesday, June 15, 2021, 14:50:44
Powers evidence is actually hilarious.


Title: Re: Lee Power
Post by: Batch on Tuesday, June 15, 2021, 14:54:45
In no way am i commenting on the case but i will say it's looking likely i will change my mind and go to home games this year

I bet you won't until after September..


Title: Re: Lee Power
Post by: tans on Tuesday, June 15, 2021, 14:58:57
🤐


Title: Re: Lee Power
Post by: horlock07 on Tuesday, June 15, 2021, 15:00:00
Oh come on someone, DM me or could this be taken into the living room?


Title: Re: Lee Power
Post by: Flashheart on Tuesday, June 15, 2021, 15:32:07
Tense, innit?


Title: Re: Lee Power
Post by: horlock07 on Tuesday, June 15, 2021, 15:33:20
They'll be getting on to adjourning shortly won't they....


Title: Re: Lee Power
Post by: Nomoreheroes on Tuesday, June 15, 2021, 15:38:36
Is it still ongoing?


Title: Re: Lee Power
Post by: Tails on Tuesday, June 15, 2021, 15:40:02
Yep.


Title: Re: Lee Power
Post by: Batch on Tuesday, June 15, 2021, 15:40:15
yes


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 15, 2021, 15:42:09
A pair of pistols and a misty dawn would have had this sorted ages ago.


Title: Re: Lee Power
Post by: horlock07 on Tuesday, June 15, 2021, 15:47:51
Has Power requested a fully fuelled 747 freight conversion be placed at his disposal yet?


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 15, 2021, 15:55:38
.
https://m.youtube.com/watch?v=SneCkM0bJq0


Title: Re: Lee Power
Post by: Nomoreheroes on Tuesday, June 15, 2021, 16:03:14
Has Power requested a fully fuelled 747 freight conversion be placed at his disposal yet?
Ah! Gives me the opportunity to play this!!!

https://www.youtube.com/watch?v=BkKrUz45icE


Title: Re: Lee Power
Post by: Legends-Lounge on Tuesday, June 15, 2021, 16:11:08
Are they still bitch slapping?


Title: Re: Lee Power
Post by: Batch on Tuesday, June 15, 2021, 16:21:01
yup, more bitch slapping than the Prodigy


Title: Re: Lee Power
Post by: Legends-Lounge on Tuesday, June 15, 2021, 16:26:24
yup, more bitch slapping than the Prodigy


Gerrymandering and obfuscating By Hannah the Hawk?


Title: Re: Lee Power
Post by: horlock07 on Tuesday, June 15, 2021, 16:29:52
So are we expecting anything like a conclusion today or not, considering its dragged on I cannot see the judge making a decision without at least retiring to consider what has been said.


Title: Re: Lee Power
Post by: Flashheart on Tuesday, June 15, 2021, 16:31:13
So are we expecting anything like a conclusion today or not, considering its dragged on I cannot see the judge making a decision without at least retiring to consider what has been said.

I think he just said that he might make a decision today.

I probably shouldn't say any more yet.


Title: Re: Lee Power
Post by: Batch on Tuesday, June 15, 2021, 16:32:01
So are we expecting anything like a conclusion today or not, considering its dragged on I cannot see the judge making a decision without at least retiring to consider what has been said.

Even if there is any judgement today, it'll be able to be appealed.


Title: Re: Lee Power
Post by: Legends-Lounge on Tuesday, June 15, 2021, 16:34:47
Even if there is any judgement today, it'll be able to be appealed.

Unless Hannah the Hawk advises against. Can a judge ‘suggest’ either way whether an appeal is worthwhile or likely to succeed/fail?


Title: Re: Lee Power
Post by: Shrivvy Road on Tuesday, June 15, 2021, 16:39:13
Even if there is any judgement today, it'll be able to be appealed.
Pointless to do so


Title: Re: Lee Power
Post by: horlock07 on Tuesday, June 15, 2021, 16:39:30
Even if there is any judgement today, it'll be able to be appealed.

Undoubtedly

Unless Hannah the Hawk advises against. Can a judge ‘suggest’ either way whether an appeal is worthwhile or likely to succeed/fail?

Its a bit outside my area of legal knowledge and engagement with courts but I suspect it can only be appealed if they consider the judge has erred in a point of law, if it goes against either side I would be amazed if they didn't try and appeal at least, especially considering the scale of cash involved.


Title: Re: Lee Power
Post by: Nomoreheroes on Tuesday, June 15, 2021, 17:30:32
If its still on going, can someone DM me a link? Or a status purdy please?


Title: Re: Lee Power
Post by: Hunk on Tuesday, June 15, 2021, 17:35:55
If it’s as clear cut as it seems, perhaps Power will cut his losses and fuck off even if final judgement would otherwise have to wait until September?


Title: Re: Lee Power
Post by: Batch on Tuesday, June 15, 2021, 17:48:48
Its over.

This is my own take on things. I may have it totally wrong. The Trust will I'm sure give their take though I think it needs legal interpretation on the finer points.

Summary:

1. No sale order as petitioned by Axis yet (adjourned )- insufficient evidence that the clubs are "perishable goods" - i.e. must prove the club would go under without it - or rather that Power needs to prove it won't (evidence by Friday 25th June, hearing TBD)

Power claims he'll continue funding - not clear if this is beyond september, but the judges ruling today. if not overturned, he would have offer to Axis the shares if he sells up (unless he finds another weazle route out).

2. However the judge agreed with Axis claim (acceptance notice) that the articles did indeed state any Axis should be offered the remaining 85% of the shares, but instead only offered 15% of the 85 shares (13 shares) as per % Clems current holding - this will no doubt be appealed but could yet force a sale (>?).

3. A counter claim against Standing/Power will be forthcoming aganst their withdrawl of running costs contribution to the club.

4. The Standing v Power 50% share case starts 6th September
-------------------------------------
More to follow in a minute (placeholders,  will fill in in a minute.)

Axis petitioned that they should have been offered all shares first in any sale of the club. Power claimed that this should be proportional to Clem's current 15% holding. The Judge didn't buy this and ruled in Axis favour. This should mean that Axis should now be offered the shares given that the share transfer notice had been issued.

However, it also transpired that the share transfer notice to Able was recently rescinded. This was explicitly not dealt with today.

Other notes:
In order to release the debenture, power got a loan with 5.75% interest which he is charging to the club (170K PA). Its not clear why (cough) given it was interest free when it sat with Arbib and Black.

In order to convince the judge Power should stay in charge, the legal played the "Kept club going for 2 years so why not a few more months. Wants to do best for the club, etc". Not sure the judge swallowed it, but didn't have evidence to the contrary.

The trust/boycott was mentioned because Power had accounted for season ticket money in future funding. This was countered by "there are many fans that would still go". But I wonder if avoiding evidence to the contrary is the reason they haven't been. Neither legal brief seemed to know our ST revenues, that they aren't on sale and so on and so forth.

Full trial:
Forensic accounting evidence needed for full trial to work out where the Matt Ritchie money went, etc (given Standing was supposed to get 50%). The full trial will address whether Standing owns 50% of shares - assuming Power doesn't do the right thing and sell to Axis.




Title: Re: Lee Power
Post by: Jimmy Quinn on Tuesday, June 15, 2021, 17:54:10
Many thanks for sharing Batch excellent work!


Title: Re: Lee Power
Post by: Flashheart on Tuesday, June 15, 2021, 17:55:11
Should hopefully get the decision we want in the next few weeks or so. No date confirmed yet.

I thought he was going to make the decision today. It was close I reckon, and even the judge said he was reluctant to do so after a long day.

Not being forced to sell to Axis today was, I think, the only thing that went in Power's favour. Poor Hannah must be looking forward to the end of this.


Title: Re: Lee Power
Post by: RobertT on Tuesday, June 15, 2021, 17:58:38
So the club has essentially managed to convert a long term debt which was bearing no interest to a short term debt that is charging 5.75% interest per annum.  Pretty bad business for the club, but easy money for whoever funded that loan.  Was it mentioned if that loan was secured or not?


Title: Re: Lee Power
Post by: Tails on Tuesday, June 15, 2021, 18:01:28
Felt like the judge has set it up so Power can sell out of court. He certainly said he was hopeful everything could resolve itself.

Still painful this is dragging on but it doesn't feel like Powers gonna be close to winning this.


Title: Re: Lee Power
Post by: Shrivvy Road on Tuesday, June 15, 2021, 18:02:04
So the club has essentially managed to convert a long term debt which was bearing no interest to a short term debt that is charging 5.75% interest per annum.  Pretty bad business for the club, but easy money for whoever funded that loan.  Was it mentioned if that loan was secured or not?
My understanding of that was that is what lee power is charging us a month. I believe the figure he is paying himself is £14k a month


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 15, 2021, 18:03:00
Or 3 x Eoin Doyles


Title: Re: Lee Power
Post by: Panda Paws on Tuesday, June 15, 2021, 18:10:43
The Trust's review c/o our legal expert here:

https://truststfc.tv/power-v-standing-court-case-update-15th-june-21/


Title: Re: Lee Power
Post by: Batch on Tuesday, June 15, 2021, 18:12:36
So the club has essentially managed to convert a long term debt which was bearing no interest to a short term debt that is charging 5.75% interest per annum.  Pretty bad business for the club, but easy money for whoever funded that loan.  Was it mentioned if that loan was secured or not?

Yup, and no it wasn't mentioned as to whether it was secured.

Dean may be right about 5.75% that's what he is charging us. Well he is, but I thought the claim was that was also the cost of borrowing.


Title: Re: Lee Power
Post by: Flashheart on Tuesday, June 15, 2021, 18:14:08
So, ABLE is effectively out of the picture now, if I've understood it right. Power can't sell to them (or anybody else) without Clem's permission. It's subject to appeal, but it's highly unlikely to be overturned in my layman opinion.

Power can't put us unto admin for as long as the injunction remains in place, and I can't see that being lifted any time soon.

So he's left with a choice between paying for it himself or selling it to Clem. You'd hope he'd give up and sell up - but I reckon he's too invested in keeping dodgy books away from certain people.


Title: Re: Lee Power
Post by: Batch on Tuesday, June 15, 2021, 18:17:21
I think the salient point is that while it seems disappointing, and is, barring successful appeal Power is stuck with the club or has to sell to Axis.

He also may not even own the club anyway was we know (Standing case).

One massive thing I'm not clear on is whether he should now be offering the club to Axis because of the ruling, and what happens if he doesn't. Or whether it needs more court time to ascertain whether the rescinding of original share transfer notice negated this.


Title: Re: Lee Power
Post by: Batch on Tuesday, June 15, 2021, 18:18:12
ha, what Flash said. That's how I interpreted it anyway.


Title: Re: Lee Power
Post by: Batch on Tuesday, June 15, 2021, 18:19:46
You'd hope he'd give up and sell up - but I reckon he's too invested in keeping dodgy books away from certain people.

The judge mildly hinted at that. But I agree with you.


Title: Re: Lee Power
Post by: Flashheart on Tuesday, June 15, 2021, 18:21:12

One massive thing I'm not clear on is whether he should now be offering the club to Axis because of the ruling, and what happens if he doesn't.

I don't quite get this bit either.

If It was deemed Axis is entitled to the shares - why wait? Why not order Power to hand over what belongs to somebody else?


Title: Re: Lee Power
Post by: Crackity Jones on Tuesday, June 15, 2021, 18:22:41
Maybe someone from th Trust can confirm that ABLE are now out of the picture. It read like it from the way things have unfolded. It also sounded like Power has no choice but to sell to Axis?


Title: Re: Lee Power
Post by: Quagmire on Tuesday, June 15, 2021, 18:24:17
For those to lazy to click on Pandas link.

Highlights:
Court has decided that Mr Power has agreed to sell all of his shares in Swinton (and therefore STFC) to Axis
The judge has decided that Axis is entitled to purchase these shares.
Court has not today ordered Mr Power to transfer the shares, that will have to be dealt with in a future hearing if Mr Power doesn’t voluntarily transfer the shares
TrustSTFC urge Mr Power to transfer the shares immediately and handover control of the club to Axis
With Mr Power purchasing the debentures and owning these it was highlighted that Mr Power is charging the club interest on the debentures he has bought personally, The interest alone would account to the club paying £170k per year​
The Judge today did not order an immediate sale of Powers shares to Clem Morfuni/Axis, instead he has asked for more evidence to be provided by Mr Power relating to him being able to fund the club until Sept and the full court case. Evidence on this has to be submitted a week Friday (June 25th) with a follow up hearing then probably within a further week. This will allow Axis to request transfer of the club shares again. It should be noted this is completely separate to the pre-emption process
What happened at Court on 15.06.21?
TrustSTFC members attended the Court hearing on 15.06.21. This is a summary of what happened.  TrustSTFC does not have copies of the evidence filed at Court, so this is based on listening to the oral arguments only.
The key outcome is that the Court decided that Power has agreed to transfer all of his shares in STFC to Axis, and Axis is entitled to become the owner of STFC.   The Court has not yet ordered Power to transfer the shares.  That will be considered at a future hearing.   TrustSTFC urges Power to transfer the shares immediately and give Axis control of the club.
Sorry, this is complicated stuff.
First, a recap on the relevant entities.  On paper at least, STFC is owned and controlled by Lee Power.  He has an 85% interest in the club.  However, Michael Standing claims he actually owns 50% of Lee Power’s shares.  That question will be decided at a trial in September.  Axis owns 15% of STFC and wants to become the 100% owner.   Standing will not stand in the way of a sale of STFC to Axis.  Power wants to sell to Able (for reasons that are unclear).
The new legal case: is Axis now entitled to own STFC?
The key dispute between Axis and Power is about “pre-emption rights”.   TrustSTFC has previously published a note explaining what they are and why they are relevant to Swindon Town:  .
In summary, a company called Swinton Reds 20 Limited (“Swinton”) ultimately owns and controls STFC.   As things stand, Power owns 85% of Swinton, and Axis owns 15%.
There is a pre-agreed mechanism for shareholders in Swinton to sell their shares.  Before selling to a third party, they must first offer them for sale to existing shareholders. This means before selling his shares in Swinton to his preferred purchaser (Able) Power must offer them to Axis.  That process starts with Power issuing a document called a Transfer Notice to Swinton.
On 17 May 2021, Power issued a Transfer Notice to Swinton, stating that he intended to sell all of his shares in Swinton to Able for £250,000.   That meant Swinton should have offered all of those shares to Axis.
Instead, Swinton (under Power’s control) issued a notice to Axis saying it was entitled to only 13 out of the 85 shares Power was selling, and the rest would be sold to Able.  If that had happened, Able would own and control STFC and Axis would remain as a minority shareholder only.
Axis says Power is wrong and Swinton must offer it all of the shares he intends to sell to Able.    Axis therefore formally replied to the Transfer Notice confirming that it will buy all of Power’s shares in Swinton at the price stated in the Transfer Notice.
Power says he made a mistake and has tried to revoke the Transfer Notice.   Axis says it is too late as it has agreed to buy his shares, there is nothing left to revoke, and Power must transfer his shares to Axis now. 
In any event, only the directors of Swinton can revoke the notice.  The directors are Power, Steve Anderson and Clem Morfuni.  Power arranged a board meeting on 11 June to decide whether the Transfer Notice should be revoked.    It appears that the directors voted 2-1 to revoke the Transfer Notice
Axis says Power has a conflict of interest and wasn’t entitled to vote anyway so the real score is 1-1 and the notice hasn’t been revoked (but it doesn’t matter as it is too late anyway).
Axis therefore issued a new legal claim asserting that Power is now legally required to transfer all of his shares to it.   At today’s hearing, Axis asked the Court to decide this claim in its favour and require Power to transfer all of its shares to Axis. 
The Judge decided that Axis is right, and that Axis is entitled to all of Power’s shares in Swinton.  Once those shares are transferred, Axis will own and control STFC.
Power is entitled to appeal, which would prolong the uncertainty.
Various other key issues were considered at today’s hearing. 
Can Power sell STFC other than through a sale of shares in Swinton?
This is another key dispute (but is relevant only if Power isn’t required to sell his shares to Axis under the transfer notice he gave to Swinton).
Axis says that the only way that Power is ever allowed to sell STFC is through a sale of shares in Swinton.  If Axis is right, Power can only ever sell through the pre-emption mechanism.  That means Power would always have first to offer his shares to Axis, and Axis could either accept the price offered or buy the shares at a fair price assessed by an accountant. 
Axis asked the Judge for “summary judgment” on this issue, i.e. it has asked the Judge to decide on the basis that this issue is so clear it doesn’t need to wait until trial in September.
The Judge decided that Axis is right.   Again, Power is entitled to seek to appeal that decision.
Should the Court order Power to transfer his shares to Axis now?
Separately from the pre-emption dispute, Axis also asked the Court to transfer Power’s shares in Swinton to Axis now, to safeguard the club.   This application was originally made when Power said the club was hopelessly insolvent.  Axis argued that the only way to safeguard the club (formally, to preserve any value in the shares in the club) was for Axis to take over immediately before all of the disputes were resolved.  It promises to pay all legitimate creditors.
The Judge heard the arguments of both side but decided that it did not have sufficient information on the financial position of the club to justify requiring the shares to be transferred on this basis today.  The hearing of this application was adjourned to a later date.   Power is required to provide evidence of the financial position of the club and how it is to be funded by 25 June 2021.
TrustSTFC strongly encourage Mr Power to now sell his shares to Clem Morfuni and Axis and allow the sale of the club to be completed and allow the football club to move forward.


Title: Re: Lee Power
Post by: Hunk on Tuesday, June 15, 2021, 18:26:28
I’m far from legally minded, but the summary served up by the trust can be read as nothing but damning if you are Lee Power. Seems to me he is out of options and that Axis have got this.

Power has to continue to fund the club until this dispute is resolved. What reasons would he have to continue to do this if it’s a foregone conclusion that he’ll ultimately have to sell to Axis anyway? Can anyone more knowledgable than me play Devil’s advocate and explain what could possibly be in it for him (ie why drag this out until September rather than sell now)?


Title: Re: Lee Power
Post by: Nemo on Tuesday, June 15, 2021, 18:28:06
Sounds very promising. Power seems to have been hoist the moment he sold Clem his 15% in the first place. Fingers crossed it gets resolved soon enough.


Title: Re: Lee Power
Post by: Batch on Tuesday, June 15, 2021, 18:28:43
Quote from: Panda Paws
The Trust's review c/o our legal expert here:

https://truststfc.tv/power-v-standing-court-case-update-15th-june-21/ (https://truststfc.tv/power-v-standing-court-case-update-15th-june-21/)


brilliant

clears up the implications of the ruling nicely.


Title: Re: Lee Power
Post by: Batch on Tuesday, June 15, 2021, 18:30:13
Quote from: Quagmire
For those to lazy to click on Pandas link.


totally missed it. thanks


Title: Re: Lee Power
Post by: Flashheart on Tuesday, June 15, 2021, 18:30:27
Can anyone more knowledgable than me play Devil’s advocate and explain what could possibly be in it for him?

My theory is that he's trying to hide dodgy books. Which would explain why he didn't want to sell to AXIS in the first place.

Rumour has it that ABLE are just a front for --- Lee Power. This would mean he wouldn't have to worry about the 'wrong' people knowing what he's been up to, while also vastly reducing what he has to pay to his creditors.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 15, 2021, 18:33:19
There is another interesting line from Axis. Upon owning the club they will pay ‘all legitimate’ creditors. Presume they don’t include Power in that.

He must know the game is up. So forgetting all the legal to-ing and fro-ing, just what is the best outcome for Power?

If the sale goes through before the September Standing/Power ownership trial would that void the necessity of that trial? I can’t see how the 2 aren’t interlinked.

Clem buys club- to make it easy say £10m

He agrees that Standing does own 50% of Power’s 85% so he gets £4.25m and the same amount for Power. Surely that’s a decent outcome for Power as he has seemingly put the square root of fuck all of his own money in.

What have I got wrong there?


Title: Re: Lee Power
Post by: Hunk on Tuesday, June 15, 2021, 18:33:36
My theory is that he's trying to hide dodgy books. Which would explain why he didn't want to sell to AXIS in the first place.

Rumour has it that ABLE are just a front for --- Lee Power. This would mean he wouldn't have to worry about the 'wrong' people knowing what he's been up to, while also vastly reducing what he has to pay to his creditors.


That’s the only reason I can think of too.

If there is (haha, if) anything dodgy on the books I’m sure he must be aware that’s come to light anyway when Axis take over in September. I guess you could argue the extra time gives him flex to cover his tracks, but I doubt it’d work and might be more trouble than it’s worth while he continues to fund the club


Title: Re: Lee Power
Post by: Panda Paws on Tuesday, June 15, 2021, 18:33:41
In short;

"This decision means Axis (Clem) should get shares and control of the club but we are not sure how long that'll take" as the process has a few different routes to the same outcome from this point


Title: Re: Lee Power
Post by: Batch on Tuesday, June 15, 2021, 18:38:36
But Power still has control of the club for now. Keep up the pressure


Title: Re: Lee Power
Post by: Summerof69 on Tuesday, June 15, 2021, 18:39:07
My theory is that he's trying to hide dodgy books. Which would explain why he didn't want to sell to AXIS in the first place.


if I was Clem, as soon as I was in the club I would be getting a group forensic accountants in to find where the money has gone.


Title: Re: Lee Power
Post by: Crackity Jones on Tuesday, June 15, 2021, 18:40:23
There is another interesting line from Axis. Upon owning the club they will pay ‘all legitimate’ creditors. Presume they don’t include Power in that.

He must know the game is up. So forgetting all the legal to-ing and fro-ing, just what is the best outcome for Power?

If the sale goes through before the September Standing/Power ownership trial would that void the necessity of that trial? I can’t see how the 2 aren’t interlinked.

I

Clem buys club- to make it easy say £10m

He agrees that Standing does own 50% of Power’s 85% so he gets £4.25m and the same amount for Power. Surely that’s a decent outcome for Power as he has seemingly put the square root of fuck all of his own money in.

What have I got wrong there?
Hasn't Power effectively sold his shares in the club for 250k?


Title: Re: Lee Power
Post by: Panda Paws on Tuesday, June 15, 2021, 18:40:28
But Power still has control of the club for now. Keep up the pressure

1000%

This is not a victory parade.


Title: Lee Power
Post by: Batch on Tuesday, June 15, 2021, 18:40:29
@so69 -:that's going to happen as part of the main trial anyway

@crackity. 2500 per share for the 85%. considerably more for the 15% I think


Title: Re: Lee Power
Post by: chalkies shorts on Tuesday, June 15, 2021, 18:41:07
So power buys the debenture using stfc money and charges 5.75% interest. If he keeps the club then money rolling in on interest. If he loses the club then the debenture is bought out and power gets money. Clever move on his part. I wonder if he paid out the debenture in full or made a lesser offer on the basis arbib and black had probably not expected any money back.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 15, 2021, 18:41:34
How long has he been getting the £14k interest a month?


Title: Re: Lee Power
Post by: Lambo75 on Tuesday, June 15, 2021, 18:41:51
From what I read on the trust site, i would interpret it that Clem will get the rest of the shares for £250k which is what Power offered them to Able for.

The value is probably why the judge has left the door open for Power to appeal.

The second part is then what happens to Standings shares, albeit done at a different hearing.
Effectively as I see it, if Clem gets the 100% of the club, then the battle for Powers 50% shares is moot but the claim will then be that Power owes Standing the money back as he's bought only fresh air. I suspect it's way more complex than that, but the legal process has to follow the rules first and deal with the fallout after. The rules state that for any sale/transfer of shares it has to be offered to existing shareholders first...of which there is only one...Clem.

Power to me is right in the mire with this. Let's hope we finally get some traction and these parasites away from the club.
I hope Clem is a genuine as he is trying so hard to appear to be. He's certainly a lot more credible in my eyes than poundland power.


Title: Re: Lee Power
Post by: Batch on Tuesday, June 15, 2021, 18:43:20
Quote from: chalkies shorts
So power buys the debenture using stfc money and charges 5.75% interest. If he keeps the club then money rolling 

not clear where the money is from.

he is charging the club the % interest though


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 15, 2021, 18:44:01
Hasn't Power effectively sold his shares in the club for 250k?
Fuck me, you’re right!

 :Ride On Fatbury's Lovestick: :Ride On Fatbury's Lovestick: :Ride On Fatbury's Lovestick:


Title: Re: Lee Power
Post by: Batch on Tuesday, June 15, 2021, 18:44:54
Quote from: The Artist Formerly Known as Audrey
Fuck me, you’re right!

 :Ride On Fatbury's Lovestick: :Ride On Fatbury's Lovestick: :Ride On Fatbury's Lovestick:

don't forget whatever he will claim the club owes him in directors loans, etc..


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 15, 2021, 18:46:57
That’s where the £4m disappeared from isn’t it?

How does Standing get his £3-4m back if the club is sold for £250,000?


Title: Re: Lee Power
Post by: RobertT on Tuesday, June 15, 2021, 18:47:04
don't forget whatever he will claim the club owes him in directors loans, etc..

Likely where the Standing case still has some legs - who put the money in the accounts and who took what out as repayment.  I suspect Power is directly owed very little beyond the Debenture debt now, at least based on what we've seen so far.  Standing needs to continue his case to ensure he gets something back from someone.


Title: Re: Lee Power
Post by: TheDukeOfBanbury on Tuesday, June 15, 2021, 18:50:06
No doubt a poor attempt to launch the season tickets in the coming days.
Just can’t see this being prolonged but all coming out in the open.

Power has definitely been touting in the football circles that he is fronting up the Able bid.
Daft and brash to do so.


Title: Re: Lee Power
Post by: Lambo75 on Tuesday, June 15, 2021, 18:51:21
That’s where the £4m disappeared from isn’t it?

How does Standing get his £3-4m back if the club is sold for £250,000?

Wouldn't that be a seperate claim, directly against power, who will then be done for trying to sell something that wasn't his to sell in the first place, therefore illegal.

Hopefully, the chain of events will be....Power sells to Clem for 250k.....Clem buys out legitimate creditors...let's assume for shits and giggles that Power's debenture is legal so this gets bought. That money is then up for grabs for Standing to go after.....so hopefully Power exits with no further claim on the club, the standing piece is put to bed, the FA look favourably on us, and the club moves forward with loads of fans returning and backing the club.


Title: Re: Lee Power
Post by: RobertT on Tuesday, June 15, 2021, 18:51:55
The Trust should get on the phone with Clem right now and set-up a "Hold it" season ticket discount.  Everyone who waits until the transfer is complete gets 10% off, or something, to get as many people as possible to starve Power out as quickly as possible.


Title: Lee Power
Post by: Batch on Tuesday, June 15, 2021, 18:51:57
if he does launch STs he'll have super early bird up to next Thursday so he can present it as revenue on Friday :)


Title: Re: Lee Power
Post by: tans on Tuesday, June 15, 2021, 18:55:26
He said he was expecting season ticket money the bit i heard.

Daft fucker hasnt even put them on sale yet


Title: Re: Lee Power
Post by: Panda Paws on Tuesday, June 15, 2021, 18:56:15
And that's when the boycott becomes super important. We have 2 weeks to prove he can't fund the club.


Title: Re: Lee Power
Post by: RobertT on Tuesday, June 15, 2021, 18:56:19
He said he was expecting season ticket money the bit i heard.

Daft fucker hasnt even put them on sale yet

He is talking about funding until September, so they'll be selling something by then.


Title: Re: Lee Power
Post by: Flashheart on Tuesday, June 15, 2021, 19:00:06
He is talking about funding until September, so they'll be selling something by then.

He's been given until a week Friday to show evidence he can continue funding it.


Title: Re: Lee Power
Post by: Shrivvy Road on Tuesday, June 15, 2021, 19:02:23
Thinking of ways he can do this and can he effectively show a bank statement with enough cash in for 2 months of bills. Would they accept that


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 15, 2021, 19:03:44
He should give Martin Bashir a call


Title: Re: Lee Power
Post by: tans on Tuesday, June 15, 2021, 19:04:16
He is talking about funding until September, so they'll be selling something by then.

Yep, they may be selling but hopefully many dont buy


Title: Re: Lee Power
Post by: Bob's Orange on Tuesday, June 15, 2021, 19:04:22
Thinking of ways he can do this and can he effectively show a bank statement with enough cash in for 2 months of bills. Would they accept that

The only thing I can think of is the Waterford sale and compensation money for Scott Twine. What other income does he have?


Title: Re: Lee Power
Post by: tans on Tuesday, June 15, 2021, 19:04:39
Thinking of ways he can do this and can he effectively show a bank statement with enough cash in for 2 months of bills. Would they accept that

Could get Murrall to mock one up


Title: Re: Lee Power
Post by: Summerof69 on Tuesday, June 15, 2021, 19:06:02
He should give Martin Bashir a call

 :Ride On Fatbury's Lovestick: :D


Title: Re: Lee Power
Post by: Quagmire on Tuesday, June 15, 2021, 19:06:51
Did make me smile today when his barrister said she had bank statements from him from 2020 and 2019 but nothing more recent to prove he could fund it.


Title: Re: Lee Power
Post by: RobertT on Tuesday, June 15, 2021, 19:07:05
He's been given until a week Friday to show evidence he can continue funding it.
He would be well within his rights to provide sensible forecasts of future Revenue, not just show that he has all the money in a bank account right now.


Title: Re: Lee Power
Post by: Panda Paws on Tuesday, June 15, 2021, 19:07:53
Did make me smile today when his barrister said she had bank statements from him from 2020 and 2019 but nothing more recent to prove he could fund it.


And no clue as to how much he sold Waterford for, despite claiming selling Waterford is how he plans to fund STFC.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 15, 2021, 19:08:53
The only thing I can think of is the Waterford sale and compensation money for Scott Twine. What other income does he have?
But that’s just throwing ‘good’ money after bad. He reckons it costs £250,000 a month to fund the club. Why spend £750,000 in a futile attempt to cover his tracks.


Title: Re: Lee Power
Post by: Flashheart on Tuesday, June 15, 2021, 19:11:23
Why spend £750,000 in a futile attempt to cover his tracks.

Desparation?


Title: Re: Lee Power
Post by: Flashheart on Tuesday, June 15, 2021, 19:12:07
The case is being covered here: https://www.facebook.com/STFCSupClub/videos/516179169508977


Title: Re: Lee Power
Post by: RobertT on Tuesday, June 15, 2021, 19:12:20
Takes a while to muddy/vanish paper trails.


Title: Lee Power
Post by: Batch on Tuesday, June 15, 2021, 19:20:32
Quote
Did make me smile today when his barrister said she had bank statements from him from 2020 and 2019 but nothing more recent to prove he could fund it.
yeah, but it did bring up his horse racing business (bloodstock or whatever) had been paying into the club ...


Title: Re: Lee Power
Post by: Shrivvy Road on Tuesday, June 15, 2021, 19:22:11
yeah, but it did bring up his horse racing business (bloodstock or whatever) had been playing into the club ...
I believe they said that was until October last year


Title: Re: Lee Power
Post by: Batch on Tuesday, June 15, 2021, 19:23:56
yup. then nada.

I bet they don't want anything in return, cough


Title: Re: Lee Power
Post by: RobertT on Tuesday, June 15, 2021, 19:25:50
Has he got full consent on the Houses/Horses stuff yet?  STFC is clearly being used as a Community Trojan Horse for that, although I don't have any real issue with that.  If he has sold to Clem before he gets what he needs though, I presume Clem would not be obliged to take-up the training ground aspect on a lease.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Tuesday, June 15, 2021, 19:29:30
Surely you can’t be committed to leasing something that has not even built yet


Title: Re: Lee Power
Post by: RobertT on Tuesday, June 15, 2021, 20:20:51
Surely you can’t be committed to leasing something that has not even built yet

Yep, that's how most developments get off the ground after initial funding.  Just look at all the Landlords who buy flats off plan in London.


Title: Re: Lee Power
Post by: Tamworth Red Army on Tuesday, June 15, 2021, 20:22:57
Could he get Curran’s dad to lend him the cash if he makes his son club captain?


Title: Re: Lee Power
Post by: Legends-Lounge on Tuesday, June 15, 2021, 20:57:06
But that’s just throwing ‘good’ money after bad. He reckons it costs £250,000 a month to fund the club. Why spend £750,000 in a futile attempt to cover his tracks.

Depends how much you value your body parts or life.


Title: Re: Lee Power
Post by: Pookemon on Tuesday, June 15, 2021, 22:59:58
Surely you can’t be committed to leasing something that has not even built yet
Yes you can it's perfectly normal.  However you won't pay rent until you occupy it. 


Title: Re: Lee Power
Post by: Sippo on Wednesday, June 16, 2021, 09:11:17
What i want to know is how has the club been funded since lockdown? To me £2.9m in debt isn't the worst, could be better but am sure there are other clubs worse off.

Also, how are we funding the new signings? Signing on fees etc.


Title: Re: Lee Power
Post by: Bob's Orange on Wednesday, June 16, 2021, 09:16:49
What i want to know is how has the club been funded since lockdown? To me £2.9m in debt isn't the worst, could be better but am sure there are other clubs worse off.

Also, how are we funding the new signings? Signing on fees etc.

I may be way off here, but the new signings are coming on board from 1st July and so we wouldn't have to pay any fees or anything until then? I assume Power expected to shake the dodgy money tree, or use ST money to pay these?


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, June 16, 2021, 09:20:56
Naive question here. If Axis was prepared to pay £7.5m for the club and now, by all accounts, only have to pay £250,000, I presume the difference could go on tidying the finances up once and for all plus, maybe, a smidgeon for recruitment!


Title: Re: Lee Power
Post by: Nemo on Wednesday, June 16, 2021, 09:25:07
Naive question here. If Axis was prepared to pay £7.5m for the club and now, by all accounts, only have to pay £250,000, I presume the difference could go on tidying the finances up once and for all plus, maybe, a smidgeon for recruitment!

I mean, it could. It could also go on an enormous statue of Clem on the Magic Roundabout, it presumably remains their money to spend on what they wish.


Title: Re: Lee Power
Post by: Flashheart on Wednesday, June 16, 2021, 09:27:59
The more one thinks about it, the more one can see just what a huge clanger Power has dropped. A monumental cock-up on an embarrassing scale.

He's been VERY badly advised somewhere along the way (or just went ahead without/ignoring advice).


Title: Re: Lee Power
Post by: horlock07 on Wednesday, June 16, 2021, 09:29:12
Has he got full consent on the Houses/Horses stuff yet?  STFC is clearly being used as a Community Trojan Horse for that, although I don't have any real issue with that.  If he has sold to Clem before he gets what he needs though, I presume Clem would not be obliged to take-up the training ground aspect on a lease.

The racing stables is granted and a DN notice issued, I note they have also started to discharge the Conditions submitting a further application in May. Also worth noting that the applicant on this one was Power Geneva Ltd, operating out of an address in Skeggy, so no mention of the club now albeit the agent name is the same as did the latter work on the TG & houses.

IIRC the houses application was approved at committee, however as far as I can tell no s.106 has been signed and on that basis I suspect that's what is holding up the issue of any DN, albeit I would not be surprised if it wasn't sold in the intervening period with the resolution to approve in place.

Likewise the training ground application appears to be in the same position ( was approved at committee, however as far as I can tell no s.106 has been signed and on that basis I suspect that's what is holding up the issue of any DN).

Do in short stables good to go (subject to discharging the conditions), houses probably OK to market the site for sale, and training ground well there is little point rushing it, I suspect his aim will be to get a lease tied up from him to STFC before he sells STFC, question would be how watertight that would be and could Axis wriggle out of it, and if so we are still without a remotely adequate training facility (unless axis buy from Power as part of club purchase).





Title: Re: Lee Power
Post by: Batch on Wednesday, June 16, 2021, 09:29:33
What i want to know is how has the club been funded since lockdown? To me £2.9m in debt isn't the worst, could be better but am sure there are other clubs worse off.

Also, how are we funding the new signings? Signing on fees etc.

IMO its pretty bad when you take into account we sold season tickets and the early bird deadline passed. And that we have taken EFL loans. And we have sold player(s). And the amount is growing.

That's just this season.


Title: Re: Lee Power
Post by: Crackity Jones on Wednesday, June 16, 2021, 09:30:21
Will there be any change from £7.5m once legitimate creditors have been paid? I guess only time will tell. First thing is to continue to pressure Power to follow up on what he has to do.  For me, that means supporting the boycott


Title: Re: Lee Power
Post by: Batch on Wednesday, June 16, 2021, 09:31:04
Naive question here. If Axis was prepared to pay £7.5m for the club and now, by all accounts, only have to pay £250,000, I presume the difference could go on tidying the finances up once and for all plus, maybe, a smidgeon for recruitment!

250K is just for the sahres.

They have also said they'd pay all legitimate creditors. That could be huge, on top of the circa 3M loss from this season.

HMRC is a creditor btw, but are being lenient under the current covid climate.

edit: beaten by Crackity.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, June 16, 2021, 09:35:20
So, if Power sells he club to Axis before the September court case, who pays off Standing if he’s adjudged to have owned 50% of Power’s share of the club. On that basis he’d only get £125,000.

In fact, it’d be less than that cos if Power valued the club at £250,000 then he’s only entitled to 85% of that, or £212,500 shared 2 ways with Standing. Maybe Axis have promised to look after him.


Title: Re: Lee Power
Post by: Batch on Wednesday, June 16, 2021, 09:36:48
For me, that means supporting the boycott

yeah, definitely.

I'll be amazed if season tickets go on sale before the deadline Power has to prove funding next Friday. He'll probably include its prediceted value in his proof of funds.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, June 16, 2021, 09:37:03
250K is just for the sahres.

They have also said they'd pay all legitimate creditors. That could be huge, on top of the circa 3M loss from this season.

HMRC is a creditor btw, but are being lenient under the current covid climate.

edit: beaten by Crackity.
Well, quite. But before the £250,000 bombshell they were going to have to pay the creditors PLUS £7.5m to Power. Or have I got that wrong?


Title: Re: Lee Power
Post by: horlock07 on Wednesday, June 16, 2021, 09:37:49
The more one thinks about it, the more one can see just what a huge clanger Power has dropped. A monumental cock-up on an embarrassing scale.

He's been VERY badly advised somewhere along the way (or just went ahead without/ignoring advice).

As noted previously, if Power has acted with the full knowledge of his legal advisors I could see a massive counter claim going between him and they (albeit I note his solicitor who appointed the Barrister in the hearings is a non exec at STFC), the first strange thing was the AoA of Swinton having the non-standard pre-emption provision added to it, then the sale of shares to Clem albeit he tried for a long time to keep that off the paperwork so assume he planned to do same to Clem that was done to Standing.

In terms of not wanting to go/sell alongside the books issue, I wonder if there are other less reputable 'investors' tied up in this who may want what they are promised (and possibly might not go down the legal route to receive their obligations) and not like their investments entering the public domain. I note that at least one of the other non-execs has a business registered at the CG, do we know much about that.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, June 16, 2021, 09:41:32
But, but, but . . .

Power had no outside investors. He told us so!


Title: Re: Lee Power
Post by: Bob's Orange on Wednesday, June 16, 2021, 09:44:43
The more one thinks about it, the more one can see just what a huge clanger Power has dropped. A monumental cock-up on an embarrassing scale.

He's been VERY badly advised somewhere along the way (or just went ahead without/ignoring advice).

Can you just imagine the look on Clem's face when he saw the written offer to sell STFC to Able for 250k? The guy appears to know exactly what he is doing and couldn't have forced a more pleasurable own goal!


Title: Re: Lee Power
Post by: Flashheart on Wednesday, June 16, 2021, 09:54:27
Well, quite. But before the £250,000 bombshell they were going to have to pay the creditors PLUS £7.5m to Power. Or have I got that wrong?

I think I took it at the time that Power would get the 7.5M, and Power would need to pay off creditors himself.

If it's as you say it is then all the better for Clem. As BO mentioned above, Clem's face must have been a picture when he realized what Power was trying to do.


Title: Re: Lee Power
Post by: Bob's Orange on Wednesday, June 16, 2021, 09:57:21
Just thinking outside the box here, Power now has to effectively offer his shares to the only viable offer in town - Axis.

but, is there now anything stopping different buyers from coming in and offering 250k for the shares? I.e another 'Able', or even an alternative buyer, set of buyers from left field that could have been keeping an eye on proceedings from a distance? I'm just wondering if by the next court case there could be many offers for the club, some possibly administered by Power, some maybe not?


Title: Re: Lee Power
Post by: Nemo on Wednesday, June 16, 2021, 09:58:52
Just thinking outside the box here, Power now has to effectively offer his shares to the only viable offer in town - Axis.

but, is there now anything stopping different buyers from coming in and offering 250k for the shares? I.e another 'Able', or even an alternative buyer, set of buyers from left field that could have been keeping an eye on proceedings from a distance? I'm just wondering if by the next court case there could be many offers for the club, some possibly administered by Power, some maybe not?

The suggestion is that the articles of association say that any share sale has to be first offered to existing shareholders. Axis are the only other existing shareholder, so have first refusal on any sale, at least from what I read in the Trust summary. If they decline to purchase at the price, then it's open market saleable.


Title: Re: Lee Power
Post by: Flashheart on Wednesday, June 16, 2021, 10:00:53

but, is there now anything stopping different buyers from coming in and offering 250k for the shares?

Pre-emption rights. The same thing that won the case for AXIS in the first place.

It doesn't matter who Power offers the shares to - AXIS will always have first refusal.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, June 16, 2021, 10:07:03
At £250,000 we could all chip in and buy it!


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, June 16, 2021, 10:09:11
Just thinking outside the box here, Power now has to effectively offer his shares to the only viable offer in town - Axis.

but, is there now anything stopping different buyers from coming in and offering 250k for the shares? I.e another 'Able', or even an alternative buyer, set of buyers from left field that could have been keeping an eye on proceedings from a distance? I'm just wondering if by the next court case there could be many offers for the club, some possibly administered by Power, some maybe not?
Power can’t just come out now and say there’s a buyer willing to pay £100m for the club. The fucking idiot has legally set the price in stone - £250,000.


Title: Re: Lee Power
Post by: swindonmaniac on Wednesday, June 16, 2021, 10:09:26
At £250,000 we could all chip in and buy it!
I'm in !!.


Title: Re: Lee Power
Post by: Peter Venkman on Wednesday, June 16, 2021, 10:11:40
Clem is definately now holding most of the good cards.

BTW happy birthday BO.


Title: Re: Lee Power
Post by: Bob's Orange on Wednesday, June 16, 2021, 10:13:27
The suggestion is that the articles of association say that any share sale has to be first offered to existing shareholders. Axis are the only other existing shareholder, so have first refusal on any sale, at least from what I read in the Trust summary. If they decline to purchase at the price, then it's open market saleable.

Ah ok - that makes sense then. So it sounds like barring any unlikely scenario of Power winning any appeal then Clem will be on board by September at the latest.

 
Pre-emption rights. The same thing that won the case for AXIS in the first place.

It doesn't matter who Power offers the shares to - AXIS will always have first refusal.

nice :)




Title: Re: Lee Power
Post by: Bob's Orange on Wednesday, June 16, 2021, 10:14:43
Power can’t just come out now and say there’s a buyer willing to pay £100m for the club. The fucking idiot has legally set the price in stone - £250,000.

no I get the price bit. My question was whether alternative buyers could come out of the woodwork but Nemo and FH have clarified it. It's basically Clem's club now.


Title: Re: Lee Power
Post by: Bob's Orange on Wednesday, June 16, 2021, 10:15:15
Clem is definately now holding most of the good cards.

BTW happy birthday BO.

Lets hope he's as good an egg as he makes out he is.

Thanks JJ :)


Title: Re: Lee Power
Post by: swindonmaniac on Wednesday, June 16, 2021, 10:16:02
no I get the price bit. My question was whether alternative buyers could come out of the woodwork but Nemo and FH have clarified it. It's basically Clem's club now.
Roll on the day .........


Title: Re: Lee Power
Post by: swindonmaniac on Wednesday, June 16, 2021, 10:17:28
Roll on the day .........
Can only be an improvement (Surely) ???.


Title: Re: Lee Power
Post by: Flashheart on Wednesday, June 16, 2021, 10:19:44
It's basically Clem's club now.

Pretty much  :).

I still don't get why the judge didn't force the share transfer after effectively saying the shares are Clem's, but it's still a massive win even if we do have to wait a little longer.

I've a hunch that Power will be able to show proof that he can fund the club until September (evidence due a week Friday). He's not short of a few bob after all, but I don't see the point as it's only delaying the inevitable.

Maybe his legal counsel will tell him he has a chance of winning an appeal? They will need to be paid for the extra work involved after all.


Title: Re: Lee Power
Post by: horlock07 on Wednesday, June 16, 2021, 10:27:10
He's not short of a few bob after all, but I don't see the point as it's only delaying the inevitable.

Maybe his legal counsel will tell him he has a chance of winning an appeal? They will need to be paid for the extra work involved after all.

Well he has managed to get it sorted now that the club owes him for the debenture, which it didn't before, I wonder what other income streams can be arranged before his departure, I imagine the Directors loan account will mysteriously jump up. On top of anything mechanisms achieved no doubt anything he puts in now to September will be wanted back with interest, bells and wheels.

Taking note of the background to this which appears to be founded on a massive legal fuck up, I wonder to what extent his legal advisors are doing this pro-bono and paying his counsel fees?


Title: Re: Lee Power
Post by: Flashheart on Wednesday, June 16, 2021, 10:38:33
He'd really struggle to get any loans against the club considering he effectively doesn't own it anymore. He might want to hang on for the Twine money, but how long will that take?

There's probably some other wheeling and dealing he can wangle before being made to hand the shares over, though.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, June 16, 2021, 10:49:54
I reckon he’s going to string out the STs. Before he can try and sell new ones he’ll have to sort out refunds for last year.

And with very few, hopefully, buying new ones he may well be out of pocket by refunding old ones.


Title: Re: Lee Power
Post by: horlock07 on Wednesday, June 16, 2021, 10:51:06
Can any of the ST holders whack the club into the small claims court to bring things forward.


Title: Re: Lee Power
Post by: horlock07 on Wednesday, June 16, 2021, 10:56:21
yeah, but it did bring up his horse racing business (bloodstock or whatever) had been paying into the club ...

Is that Power Geneva Ltd, a quick look at CH suggests that Power now holds no shares in that company and all the shares were transferred to Jack Power in April 2021?


Title: Re: Lee Power
Post by: jevs on Wednesday, June 16, 2021, 10:59:35
Can any of the ST holders whack the club into the small claims court to bring things forward.

How about all season ticket holders do it as a group action - how much is owed? Offer to settle for the debentures.

Lovely that Black continued to screw the club by selling it on to someone without the clubs best interests at heart when he plainly doesn't need the money.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, June 16, 2021, 11:39:06
Hodgetts is quiet on the subject.


Title: Re: Lee Power
Post by: Batch on Wednesday, June 16, 2021, 11:42:06
Hodgetts is quiet on the subject.

I mentioned this on Twitter.

Marie DMd me to say they had run a story on the breakfast show given they were restricted on social media. I assume restrictions were just for yesterday, but I don't know if there is further direction (can't think why there would be though).



Title: Re: Lee Power
Post by: Panda Paws on Wednesday, June 16, 2021, 11:42:30
Hodgetts is quiet on the subject.

Imagine my shock.


Title: Re: Lee Power
Post by: Legends-Lounge on Wednesday, June 16, 2021, 13:45:57
Is that Power Geneva Ltd, a quick look at CH suggests that Power now holds no shares in that company and all the shares were transferred to Jack Power in April 2021?

Effectively, side stepping any claim/s for money or compensation etc owed (from that asset at least) to whoever has anything to go after him for.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, June 16, 2021, 14:35:07
Circling the wagons. Hiding the assets. Fucking off back to Toblerone country.


Title: Re: Lee Power
Post by: theakston2k on Wednesday, June 16, 2021, 16:10:05
I’m just bored of the whole thing, this combined with COVID and buying a new house has caused me to pretty much lose all interest, sounds like the end might be in sight hopefully.

I notice that all the mongs on the FB group are now congratulating each other for being right all along about Power…. despite their ‘right’ consisting of years of irrational ranting and raving on on social media without ever providing any substance or tangible proof of dodgy dealings. Even broken clocks are right twice a day I guess….


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, June 16, 2021, 16:13:13
The problem with ‘tangible proof’ is that when it becomes apparent it’s always too late.

Gut feeling is a pretty good indicator. He always ‘smelt’ wrong.


Title: Re: Lee Power
Post by: TheDukeOfBanbury on Wednesday, June 16, 2021, 17:07:12
The problem with ‘tangible proof’ is that when it becomes apparent it’s always too late.

Gut feeling is a pretty good indicator. He always ‘smelt’ wrong.

Don’t know any Swindon fan that thought he was decent and straight.
It had to take the Standing / Barry story to open the doors. Accusations without proof are worthless.


Title: Re: Lee Power
Post by: Bob's Orange on Wednesday, June 16, 2021, 17:48:14
Don’t know any Swindon fan that thought he was decent and straight.
It had to take the Standing / Barry story to open the doors. Accusations without proof are worthless.

The American election 'steal' being a case in point.


Title: Re: Lee Power
Post by: Flashheart on Wednesday, June 16, 2021, 18:15:00
'Gut feelings' are extremely unreliable. That they occasionally turn out to be 'correct' does not change that.

That, and you can't really achieve anything with them anyway. Asides from gobbling off about them on social media that is.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, June 16, 2021, 18:18:26
Not in this case, though.


Title: Re: Lee Power
Post by: Flashheart on Wednesday, June 16, 2021, 18:41:06
Not in this case, though.

Eh?

Like I said, that gut feelings occasionally turn out to be correct does not make them reliable. They also achieve nothing.

I'm not sure how 'this case' changes any of what I said. Or were you replying to somebody else?



Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, June 16, 2021, 18:46:24
But we’re only talking about Power and STFC.

It didn’t take a genius to know it would turn out like this. 17 previous bankrupt businesses, less than savoury associations with other football clubs - it was all there.

Why anyone would think he’d be any different here is beyond me.


Title: Re: Lee Power
Post by: Batch on Wednesday, June 16, 2021, 18:54:14
more good comms;

https://truststfc.tv/what-happens-next/


Title: Re: Lee Power
Post by: Flashheart on Wednesday, June 16, 2021, 18:58:15
It doesn't matter what we are talking about.

Gut feelings about just about any topic are not reliable. They are often wrong. More often than not. That makes it unwise to act as though they are definitely correct. Being right sometimes does not change that and it does not give people bragging rights. It's akin to bragging that you're a good poker player after getting lucky and winning with a shite hand.

And MANY more people did suspect that Power was shifty but chose not to go diving in acting as though their feelings were definitely right (myself included) People who did not go gobbling off about their gut feelings were not necessarily wrong, many just acknowledged that there was no evidence to prove they were right.

But we've been here before. I'm not going there again.





Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, June 16, 2021, 19:00:38
Impossible


Title: Re: Lee Power
Post by: Flashheart on Wednesday, June 16, 2021, 19:07:48
Quote
Swinton is now required to issue a “sale notice” to Power.  However, it does not have to do so until 7 days after the expiry of the period in the “offer notice”, i.e. which would mean it must issue the “sale notice” somewhere between 22 June and 13 July.

On receipt of the “sale notice” and the sale price of £250,000, Power must transfer his shares to Axis.

So, 13th of July (or sooner) is the point where Power is obliged to hand over control to Clem?

But even then he could be a dick about it and it might take more court shenanigans for it to happen.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, June 16, 2021, 19:41:49
Where did this lovely nugget come from?

It’s good to get some idea of timeframe, albeit if things go smoothly.

https://truststfc.tv/what-happens-next/


Title: Re: Lee Power
Post by: Legends-Lounge on Wednesday, June 16, 2021, 21:12:37
Basically he’s painted himself into a corner. The thing is there are ways he can bypass the wet paint but walking over it to the door isn’t one of them. It is now just a question of waiting until the paint has dried for AXIS to help themselves to the goodies. As the options to get out from this corner before it dries is going to cost him a fucking lot of money legally (this is the man who says a) he cannot afford to keep the club going b) the club is insolvent) and time is running out so the longer he stalls the more it will cost him.


Title: Re: Lee Power
Post by: Sippo on Wednesday, June 16, 2021, 21:45:04
Not sticking up for Mr Power but the trust and him have never really got on?


Title: Re: Lee Power
Post by: FreddySTFC! on Wednesday, June 16, 2021, 21:54:47
Not sticking up for Mr Power but the trust and him have never really got on?
If true, it's probably a good thing they didn't. They may have been less inclined to take the approach they have if they had a better mutual relationship.


Title: Re: Lee Power
Post by: Batch on Wednesday, June 16, 2021, 22:22:46
Quote from: Sippo
Not sticking up for Mr Power but the trust and him have never really got on?
Well, they were proposing a ground purchase with him.

So even if they were sceptical, they were still trying to work with him to move the club forward


Title: Re: Lee Power
Post by: Legends-Lounge on Wednesday, June 16, 2021, 22:43:28
Well, they were proposing a ground purchase with him.

So even if they were sceptical, they were still trying to work with him to move the club forward

He, on the face of it may have been using them as a stooge to stall his real intentions allegedly.


Title: Re: Lee Power
Post by: swindonmaniac on Thursday, June 17, 2021, 08:23:51
He, on the face of it may have been using them as a stooge to stall his real intentions allegedly.
Careful, Flasheart will consider that a gut feeling.


Title: Re: Lee Power
Post by: Legends-Lounge on Thursday, June 17, 2021, 08:26:40
Careful, Flasheart will consider that a gut feeling.

Let him, be damned.


Title: Re: Lee Power
Post by: Shrivvy Road on Thursday, June 17, 2021, 08:30:23
Maybe only me who finds this huge news but i have supported this club 35 years and as long as i can remember these guys have never liked to rock the boat and even they have had enough https://stfc-osc.com/latest-news


Title: Re: Lee Power
Post by: Power to people on Thursday, June 17, 2021, 08:40:36
Maybe only me who finds this huge news but i have supported this club 35 years and as long as i can remember these guys have never liked to rock the boat and even they have had enough https://stfc-osc.com/latest-news

It does not always pay to rock the boat though, there are certain things that are better of being worked on in the background quietly while keeping up public appearances.

I'm sure it was known a while ago about the going's on but until all ducks were aligned it would have been best to move in the background to line them up.
 


Title: Re: Lee Power
Post by: bennett on Thursday, June 17, 2021, 08:41:04
I think it's well worded to be "we aren't angry, just disappointed"


Title: Re: Lee Power
Post by: Private Fraser on Thursday, June 17, 2021, 08:45:08
I'm happy with the statement this morning from the OSC.

Have also now seen this from the Axis/Standing QC chap. The bit in the penultimate paragraph about Power's possible next step is interesting:

https://www.brickcourt.co.uk/news/detail/chairman-scores-spectacular-own-goal-in-swindon-town-dispute






Title: Re: Lee Power
Post by: Batch on Thursday, June 17, 2021, 08:47:26
Maybe only me who finds this huge news but i have supported this club 35 years and as long as i can remember these guys have never liked to rock the boat and even they have had enough https://stfc-osc.com/latest-news

Was just coming on to post the same thing. So no it isn't just you.

They aren't and have never been ones to back a particular person to be an owner, fair enough. But they are exercising their duty of care to their members interests. In this case stopping their cash going into a black hole where the club have put up a brick wall and refuse to communicate. The OSC don't have a choice IMO.


Title: Re: Lee Power
Post by: Shrivvy Road on Thursday, June 17, 2021, 08:51:10
Absolutely and i totally agree with them. Just shocked me as we have been in some very very sticky situations before and they stayed out of it

It is good to see


Title: Re: Lee Power
Post by: tans on Thursday, June 17, 2021, 09:00:32
Good on them


Title: Re: Lee Power
Post by: Flashheart on Thursday, June 17, 2021, 09:16:54
I'd love to be a fly on the well in Power's office or wherever when he's speaking with his lawyers.


Title: Re: Lee Power
Post by: stfcjack on Thursday, June 17, 2021, 09:19:40
When you take a step back and think about it, imagine any other business had decided to cut all its communication with its customers and treat them with absolute disregard. Utter bonkers. Sell up Power FFS and let’s this fantastic club be a club again.


Title: Re: Lee Power
Post by: horlock07 on Thursday, June 17, 2021, 09:26:24

Have also now seen this from the Axis/Standing QC chap. The bit in the penultimate paragraph about Power's possible next step is interesting:

https://www.brickcourt.co.uk/news/detail/chairman-scores-spectacular-own-goal-in-swindon-town-dispute

I'm quite surprised they have put such a statement out whilst the case is on-going, the headline itself is almost trolling Power.

I hope they have done this as they are pretty confident of a positive outcome for their client, otherwise they will look a bit foolish.


Title: Re: Lee Power
Post by: Frigby Daser on Thursday, June 17, 2021, 09:38:12
I'm quite surprised they have put such a statement out whilst the case is on-going, the headline itself is almost trolling Power.

I hope they have done this as they are pretty confident of a positive outcome for their client, otherwise they will look a bit foolish.

That part of the case has been decided upon, so fine to report on it.


Title: Re: Lee Power
Post by: TheDukeOfBanbury on Thursday, June 17, 2021, 09:49:23
Sick to death of all this now, frustrated, angry, all the emotions.
Just want the parasite to fuck off for good so we can all get back to what we do best supporting a football team.
Completely exposed, proof and facts for all to see. Suspicions without proof and now the proof.

Just give us our club back and go.


Title: Re: Lee Power
Post by: Robinz on Thursday, June 17, 2021, 10:23:02
I am sure once this situation has been sorted and yes it will one day.

The Football club will be stronger and more together knowing Lee Power has gone.

Really hope it wont take as long to recover as I expect it might !!! 

COYMRs


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Thursday, June 17, 2021, 10:35:22
Are we to expect a huge ejaculation of support once King Creole has disappeared with his Coconuts?

Is he likely to exhaust all his appeals avenues to continue to frustrate everybody for as long as he can, or is it apparent now that hanging in will cost him money?

Once he’s got his hands on the Twine/Odimayo cash he’ll be off.


Title: Re: Lee Power
Post by: Robinz on Thursday, June 17, 2021, 10:39:32
Surely Power has pushed his luck far to much this time and simply must be removed at all costs.

In a few weeks time there could be enough evidence to prove that he has been a real bad bastard.

Possibly he could be charged as a delinquent Director.

Lets hope its not that bad... However, what will be will be !!!!  

          


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Thursday, June 17, 2021, 10:41:35
Got to say, I have wondered if any of his dealings actually goes beyond just fucking a football club over.


Title: Re: Lee Power
Post by: Flashheart on Thursday, June 17, 2021, 10:51:18
Are we to expect a huge ejaculation of support once King Creole has disappeared with his Coconuts?


I think more a case of jizzing out of relief.

Let that die down and it's time to turn the focus on Clem to see if he's walking the walk.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Thursday, June 17, 2021, 10:56:27
Clem has no known baggage and his statements on the future he sees for the club have been put in the public domain - so we do, st least, have something to judge him on.

For some fans, success on the pitch is the only yardstick, but, IMO, getting back to being a functional football club again is far more important. As a a club we’ve been plagued with short termism and the opportunity for some to make a fast buck for far too long.

Let’s have a vision and stick to it. Long term it’s the only way to go.


Title: Re: Lee Power
Post by: Power to people on Thursday, June 17, 2021, 11:06:05
People taking about Power will walk off with the Twine money, as this goes through the FL they are likely to keep any monies so it reduces what stfc owe them on the loan, and in any case with the court case ongoing the FL may not release any money until ownership is clear.

Nobody knows the terms of the FL loan, with the club due money from the FL some of that may be held back as part payment, or it may be used to clear the FL loan first.



Title: Re: Lee Power
Post by: horlock07 on Thursday, June 17, 2021, 11:07:00
Clem has no known baggage and his statements on the future he sees for the club have been put in the public domain - so we do, st least, have something to judge him on.


As noted above Clem will suffer from what he has followed and the cynicism and suspicion embedded in a lot of our fan base, this guy 8 years (good god) back was saying a lot of 'the right things'.

https://www.bbc.co.uk/sport/av/football/21590928


Title: Re: Lee Power
Post by: Red Frog on Thursday, June 17, 2021, 11:08:26
Clem has no known baggage and his statements on the future he sees for the club have been put in the public domain - so we do, st least, have something to judge him on.

For some fans, success on the pitch is the only yardstick, but, IMO, getting back to being a functional football club again is far more important. As a a club we’ve been plagued with short termism and the opportunity for some to make a fast buck for far too long.

Let’s have a vision and stick to it. Long term it’s the only way to go.

We had that with Fitton. That didn't last. I hope Clem has more stomach for dealing with football people. In the industries he's worked in, he's probably knocked around with rougher types than the posh boys ever did.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Thursday, June 17, 2021, 11:10:36
People taking about Power will walk off with the Twine money, as this goes through the FL they are likely to keep any monies so it reduces what stfc owe them on the loan, and in any case with the court case ongoing the FL may not release any money until ownership is clear.

Nobody knows the terms of the FL loan, with the club due money from the FL some of that may be held back as part payment, or it may be used to clear the FL loan first.


Yeah. Nobody has a scooby about how these things are dealt with. Wonder when the FA charges will appear. Is there any punishment they can dish out that would matter a jot if Power is no longer a club owner?


Title: Re: Lee Power
Post by: Legends-Lounge on Thursday, June 17, 2021, 11:37:25
Got to say, I have wondered if any of his dealings actually goes beyond just fucking a football club over.

😱


Title: Re: Lee Power
Post by: JBZ on Thursday, June 17, 2021, 11:41:29
I'm happy with the statement this morning from the OSC.

Have also now seen this from the Axis/Standing QC chap. The bit in the penultimate paragraph about Power's possible next step is interesting:

https://www.brickcourt.co.uk/news/detail/chairman-scores-spectacular-own-goal-in-swindon-town-dispute






This was helpful and provides some much needed clarity on the most recent developments.



Title: Re: Lee Power
Post by: Samdy Gray on Thursday, June 17, 2021, 12:30:37
I'd love to be a fly on the well in Power's office or wherever when he's speaking with his lawyers.

https://www.youtube.com/watch?v=6NwvjPlcC3w


Title: Re: Lee Power
Post by: Frigby Daser on Thursday, June 17, 2021, 13:11:48
We had that with Fitton. That didn't last. I hope Clem has more stomach for dealing with football people. In the industries he's worked in, he's probably knocked around with rougher types than the posh boys ever did.

Assuming he takes over, I suspect we will not see a great deal of him weekly / monthly. I’ve seen nothing to suggest he’ll relocate - does anyone know? That’s not a problem of course. It just means the people who he appoints (his version of Nick Watkins for the business and Paul Jewell for the football) need to be good.


Title: Re: Lee Power
Post by: Bob's Orange on Thursday, June 17, 2021, 13:14:54
He's said he already knows who his CEO is going to be so assume that will be the fella/women who will be his boots on the ground.


Title: Re: Lee Power
Post by: Flashheart on Thursday, June 17, 2021, 13:39:30
He's already said he won't be relocating and will be in touch with his general manager/whoever once or twice a week or so.


Title: Re: Lee Power
Post by: Power to people on Thursday, June 17, 2021, 15:06:49
Will the issue over the debenture be dealt with in court as well, if Power paid below the reported £2m for it, can the court then force him to enable it be be sold with stfc for the amount he paid and not with the reported £14k a month interest or is that worth whatever he says it is worth ?

I assume this interest is the interest that Power pays on his loan plus his interest rate on top ?


Title: Re: Lee Power
Post by: Panda Paws on Thursday, June 17, 2021, 15:08:46
He runs a business that does $x00 pa in revenue. He's not going to leave Aus and work for STFC.

He has already said, repeatedly, he'll delegate and his CEO will run everything day-to-day.


Title: Re: Lee Power
Post by: DV Canio on Thursday, June 17, 2021, 15:16:59
I think he mentioned something about hiring a CEO rather than relocating to Swindon.


Title: Re: Lee Power
Post by: Legends-Lounge on Thursday, June 17, 2021, 15:17:59
As noted above Clem will suffer from what he has followed and the cynicism and suspicion embedded in a lot of our fan base, this guy 8 years (good god) back was saying a lot of 'the right things'.

https://www.bbc.co.uk/sport/av/football/21590928

Well if after three years we’re not in the Pl with a minimum 40k capacity ground he can fuck off as well.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Thursday, June 17, 2021, 18:25:42
Who does this fella share a moniker with this week?



Title: Re: Lee Power
Post by: Flashheart on Thursday, June 17, 2021, 18:33:10
Colin West, innit.


Title: Re: Lee Power
Post by: Legends-Lounge on Thursday, June 17, 2021, 18:34:20
Colin West, innit.


Don’t e do tinned fish or summat?


Title: Re: Lee Power
Post by: Jimmy Quinn on Thursday, June 17, 2021, 18:35:44
Colin West, innit.


Good shout and he's 58 now


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Thursday, June 17, 2021, 18:45:09
Well, that didn’t last long!


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Thursday, June 17, 2021, 18:50:58
Cunty McCuntface?


Title: Re: Lee Power
Post by: Jimmy Quinn on Thursday, June 17, 2021, 18:51:34
That's the one :clap: :clap:


Title: Re: Lee Power
Post by: Flashheart on Thursday, June 17, 2021, 18:59:54
Well, that didn’t last long!

There weren't many to choose from.

I ruled Hannah out straight away.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Friday, June 18, 2021, 06:34:54
How come to the debentures are still showing as ‘outstanding’ on the CH website?



https://find-and-update.company-information.service.gov.uk/company/00053100/charges


Title: Re: Lee Power
Post by: Pookemon on Friday, June 18, 2021, 07:15:55
How come to the debentures are still showing as ‘outstanding’ on the CH website?



https://find-and-update.company-information.service.gov.uk/company/00053100/charges

Because they haven't been settled/repaid and there's been no suggestion that they have.   They are held by Lee Power who purchased them from Black and Abib


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Friday, June 18, 2021, 07:19:27
Still in the names of Black and Arbib. As far as those 2 are concerned, they have been satisfied.


Title: Re: Lee Power
Post by: Simon Pieman on Friday, June 18, 2021, 07:53:29
That's administrative, the company needs to file forms to settle the debentures under Black and Arvib, then create the charge under Power's name


Title: Re: Lee Power
Post by: Batch on Friday, June 18, 2021, 08:06:16
so he's moved the debt to himself rather than discharged it ?


Title: Re: Lee Power
Post by: Power to people on Friday, June 18, 2021, 08:34:38
so he's moved the debt to himself rather than discharged it ?

Of course he has, he's settled it for perhaps £2m, and the plan was probably for stfc to pay him back £3m as it is not interest free, but it may be now called a loan instead of debenture, nobody really knows how much the debenture was


Title: Re: Lee Power
Post by: Flashheart on Friday, June 18, 2021, 08:50:10
Just think. It might not be long before we get the biggest "BBC Wilts understands" the club has had in yonks...

Or it might take months.


Title: Re: Lee Power
Post by: Nomoreheroes on Friday, June 18, 2021, 09:16:00
Just think. It might not be long before we get the biggest "BBC Wilts understands" the club has had in yonks...

Or it might take months.
I think I'd prefer that to happen today please. Can you make it happen?


Title: Re: Lee Power
Post by: Flashheart on Friday, June 18, 2021, 09:30:36
I think I'd prefer that to happen today please. Can you make it happen?

I suppose I could sacrifice a virgin.

If I can find one.


Title: Re: Lee Power
Post by: Batch on Friday, June 18, 2021, 09:37:15
Quote from: Power to people on Today at 07:34:38
Of course he has, he's settled it for perhaps £2m, and the plan was probably for stfc to pay him back £3m as it is not interest free, but it may be now called a loan instead of debenture, nobody really knows how much the debenture was

The debentures were 3M combined when with Black and Arbib.

But do you mean nobody knows how much he paid to discharge them?

https://www.swindonadvertiser.co.uk/news/19347374.questions-4m-missing-swindon-town-directors-account/

Quote from: Colin West, QC
“Throughout 2020 his position was that he was impecunious and would before too long run out of money to keep funding the club. Yet he was nevertheless able to purchase the £3m debentures from their previous owners, Black and Arbib.

“[Mr Power] has never said where he sourced such finance. In the circumstances, the obvious inference is that he used money he had obtained from the club by way of repayments of his director’s loan.”



Title: Re: Lee Power
Post by: theakston2k on Friday, June 18, 2021, 10:23:56
Fitton, Black etc have a lot to answer for IMO. They basically facilitated this whole scenario and even years after selling up Black has managed to stitch the club up further by selling the debenture off.


Title: Re: Lee Power
Post by: Batch on Friday, June 18, 2021, 10:28:27
Quote from: theakston2k
Fitton, Black etc have a lot to answer for IMO. They basically facilitated this whole scenario and even years after selling up Black has managed to stitch the club up further by selling the debenture off.

Black is both hero and villian.

funded a very exciting period.
abandoned his duty of care in desperation to get the hell out of Dodge


Title: Re: Lee Power
Post by: horlock07 on Friday, June 18, 2021, 10:43:14
Black is both hero and villian.

funded a very exciting period.
abandoned his duty of care in desperation to get the hell out of Dodge

Wasn't it also during their stewardship that they buggered around with the number of shares to basically remove any means of influence form all the supporter shareholders?


Title: Lee Power
Post by: Batch on Friday, June 18, 2021, 10:48:57
yeah, and only one person in that meeting objected as we missed the implications

however imo not changing it would have made no difference whatsoever in running of the club really. no real loss of influence


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Friday, June 18, 2021, 11:15:35
So what’s the incentive for Power to make any further signings, or paying existing staff - or anyone else for that matter?

Can Axis argue next week that the club needs stable ownership so as to offer a duty of care?

Even if Power does provide proof he can run this club until September there’s no onus on him to actually do so.

This needs taking out of his hands - now!


Title: Re: Lee Power
Post by: Flashheart on Friday, June 18, 2021, 11:21:24

Even if Power does provide proof he can run this club until September there’s no onus on him to actually do so.


Yep.

And my guess is that he will be able to provide such proof. It'll likely be nothing for him to show the cash in an account, especially if there's no obligation on him to spend a penny of it. I'm not confident we'll get a result at the next hearing.

Having said that, Clem's lawyer seems quite sharp...


Title: Re: Lee Power
Post by: Batch on Friday, June 18, 2021, 11:27:10
agree with you FH. I think the judge is kind of restricted to using his powers to force a sale only as a last result.

unless he had an epiphany that there's no point continuing.

But where there's a lawyer there's an argument to continue


Title: Re: Lee Power
Post by: Power to people on Friday, June 18, 2021, 11:28:15
Quote from: Power to people on Today at 07:34:38
Of course he has, he's settled it for perhaps £2m, and the plan was probably for stfc to pay him back £3m as it is not interest free, but it may be now called a loan instead of debenture, nobody really knows how much the debenture was

The debentures were 3M combined when with Black and Arbib.

But do you mean nobody knows how much he paid to discharge them?

https://www.swindonadvertiser.co.uk/news/19347374.questions-4m-missing-swindon-town-directors-account/



Must have missed that, interesting so the inference is that Power took money from stfc paid it to himself and then bought the debenture out and then charges stfc interest on it.
Am I reading it correct ?

Now I assume it needs to be determined in court perhaps does stfc owe Power £3m (or whatever he bought it for) for the debenture or was it stfc's money anyway so the debenture is cleared ?


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Friday, June 18, 2021, 11:30:46
Unfortunately, STFC’s money is effectively Power’s money. He can spend it as he sees fit - legally, of course.


Title: Re: Lee Power
Post by: Flashheart on Friday, June 18, 2021, 11:33:26
I think one angle Mr. West QC might take is that Power should be expected to show he has MORE money to fund the club than when Power himself said he could not afford to continue running it.

If he could not afford it then, and his financial situation has not improved, how can he afford it now? Was Power lying when he initially said he could not afford it? Or is he lying now? It has to be one or the other unless he's found a wad of cash down the back of the sofa. Will the court accept a change in mind from Power, especially considering the change came when it became evident Power was not going to get his own way?


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Friday, June 18, 2021, 11:39:17
I reckon there any number of legal arguments to throw at Power. Presuming the judge next Friday is the same one, even he must recognise that Power is a total fraud. He never seems to have answers at hand to most queries put to him - and I can’t think Friday will be any different.


Title: Re: Lee Power
Post by: Panda Paws on Friday, June 18, 2021, 11:40:38
Just to be clear, there isn't a hearing next Friday. It's just the deadline for submission of evidence.

I wouldn't expect to hear anything until mid July.


Title: Re: Lee Power
Post by: Flashheart on Friday, June 18, 2021, 11:41:44
Next Friday is not the date of the next hearing - it's the deadline for both parties to gather and present their evidence.

The actual hearing may be a week or two after.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Friday, June 18, 2021, 11:44:22
Thanks for clearing that up. So if Power doesn’t actually present evidence, is that it?


Title: Re: Lee Power
Post by: The Grim Reaper on Friday, June 18, 2021, 19:48:10
Can’t help but feel Power will easily provide proof of funds, he’s not exactly short of a Bob or too. I suspect he will drag this out to the bitter end while he has his own legal people find any which way they can to avoid selling to Axis. Pretty certain even someone as bullish as Power would have handed over control by now if he felt he couldn’t win. Expecting this to drag on through until September.


Title: Re: Lee Power
Post by: Peter Venkman on Saturday, June 19, 2021, 10:38:36
Can’t help but feel Power will easily provide proof of funds, he’s not exactly short of a Bob or too. I suspect he will drag this out to the bitter end while he has his own legal people find any which way they can to avoid selling to Axis. Pretty certain even someone as bullish as Power would have handed over control by now if he felt he couldn’t win. Expecting this to drag on through until September.
This 100%.


Title: Re: Lee Power
Post by: Shrivvy Road on Saturday, June 19, 2021, 10:47:44
I have heard he doesn't have a pot to piss in and it is the club that has been funding his lifestyle hence clinging on until the last minute


Title: Re: Lee Power
Post by: ThreeDrawsMentality on Saturday, June 19, 2021, 10:53:53
I have heard he doesn't have a pot to piss in and it is the club that has been funding his lifestyle hence clinging on until the last minute
And that would tie in with how our budget has looked since Power's 2nd season.
Fitton referenced before that an average attendance of 7500 and £200 season tickets would mean a comfortable £2-£2.5mn budget. We were averaging similar in 2014/15 and with a pricier season ticket cost, but had an initial budget of £1.5mn...so makes you wonder where that discrepancy was going


Title: Re: Lee Power
Post by: Peter Venkman on Saturday, June 19, 2021, 11:05:47
I have heard he doesn't have a pot to piss in and it is the club that has been funding his lifestyle hence clinging on until the last minute
In the previous court case Powers solicitor said Power can easily arrod to fund the club but that he has no desire to contnue funding it.

How true that is I have no idea.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Saturday, June 19, 2021, 11:12:16
He’s more full of shit than my septic tank.

He’s a pragmatist. If hanging on will cost him money, he’ll be off soonest. He’s always used someone else’s cash to fund the club, he won’t be putting any of his own in.


Title: Re: Lee Power
Post by: Peter Venkman on Saturday, June 19, 2021, 11:16:02
I can't help but think he is waiting around for the Twine fee, the possible Odimayo fee to be decided and any possible fee from Payne leaving as hes still under contract so he can pocket them before he fucks off.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Saturday, June 19, 2021, 11:27:17
Maybe. But if he said to Axis ‘I’m prepared to hand he club over but included in the deal is the Twine etc money’ I’m sure they’d facilitate him.


Title: Re: Lee Power
Post by: Posh Red on Saturday, June 19, 2021, 12:33:13
I still think he’s dragging it out to give him time to “bury” the evidence of illegal activity.


Title: Re: Lee Power
Post by: Batch on Saturday, June 19, 2021, 12:34:53
wouldn't be surprised posh.

cockroaches are bastards to get rid of too. So I think this is going to drag


Title: Re: Lee Power
Post by: The Grim Reaper on Saturday, June 19, 2021, 16:12:00
I may have mis read some of the previous posts but am I right in thinking Power has unintentionally set himself up to sell his shares for just £250K? Would be karma if the highest order if that’s all he gets after 8 years of running this club into the ground. Even better if Axis find a way not to pay him for any non legitimate debts and the fat chancer ends up in prison should any dodgey dealings come to life.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Saturday, June 19, 2021, 16:26:23
You’re correct. Because he tried to sell to Able, valuing the sale at £250,000, that price is now locked in for Axis.

Axis will then be liable for settling ‘legitimate’ debts. What they consider to be legitimate will, no doubt, lead to further ‘action’, but at least by then they will control the club.


Title: Re: Lee Power
Post by: Batch on Saturday, June 19, 2021, 16:37:46
yeah, he's bound to be up for a wedge of payment in directors loans, etc.

cause, you know shaaaawn, he loves the club and has been putting his own money in... cough


Title: Re: Lee Power
Post by: tans on Saturday, June 19, 2021, 17:28:17
BUT HE SAVED THE CLUB!


Title: Re: Lee Power
Post by: RedRag on Saturday, June 19, 2021, 17:54:56
If the Court does order the share transfer for £250k, it may be that the onus will then switch to Power to prove to Clem/Axis the legitimacy of his claims against the club inc director's loans.  Clem would then be in a position to examine this at his leisure, insisting on seeing a load of paperwork that Power has likely shredded or that incriminates Power.  Please, please, pretty please God, make it so!


Title: Re: Lee Power
Post by: Power to people on Tuesday, June 22, 2021, 12:37:11
If the Court does order the share transfer for £250k, it may be that the onus will then switch to Power to prove to Clem/Axis the legitimacy of his claims against the club inc director's loans.  Clem would then be in a position to examine this at his leisure, insisting on seeing a load of paperwork that Power has likely shredded or that incriminates Power.  Please, please, pretty please God, make it so!

Forensic accounts would be required to go through the accounts fully anyway with what has come out in court


Title: Re: Lee Power
Post by: stfcjack on Wednesday, June 23, 2021, 10:23:42
Waking up every morning thinking today could be the day… More of a dream than reality though


Title: Re: Lee Power
Post by: Panda Paws on Wednesday, June 23, 2021, 10:24:35
It's going to be a long battle - we've just got to stick to it.


Title: Re: Lee Power
Post by: Flashheart on Wednesday, June 23, 2021, 10:32:58
Waking up every morning thinking today could be the day… More of a dream than reality though

It'll probably be another week or so at least until we hear anything - even if what we do hear is that it will be even longer before something actually happens.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, June 23, 2021, 10:41:33
Will Axis be privy to whatever, if any, proof Power provides to the judge? Surely, they’ll have a chance to refute his bollocks.


Title: Re: Lee Power
Post by: Shrivvy Road on Wednesday, June 23, 2021, 10:44:57
Absolutely shocked he hasn't released season tickets. I would have thought this was where he would demonstrate to the courts he could generate income from. I was a bit suprised how the judge skimmed over that last week tbh as if his defence had answered his question about how many people attend the games that would of helped power out there 


Title: Re: Lee Power
Post by: Flashheart on Wednesday, June 23, 2021, 10:46:12
Will Axis be privy to whatever, if any, proof Power provides to the judge? Surely, they’ll have a chance to refute his bollocks.

This is what the next hearing is for.


Title: Re: Lee Power
Post by: Shrivvy Road on Wednesday, June 23, 2021, 10:48:36
This is what the next hearing is for.
Am i right in thinking if Power doesn't respond by Friday then there is now next hearing as such


Title: Re: Lee Power
Post by: Flashheart on Wednesday, June 23, 2021, 10:49:58
Am i right in thinking if Power doesn't respond by Friday then there is now next hearing as such

I don't know mate, but you'll think there's no point in continuing if he doesn't provide the evidence the judge asked for.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, June 23, 2021, 10:50:32
If that was he case, then I presume a ‘no show’ is the same as an admission that he can’t fund the club.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, June 23, 2021, 10:53:57
Absolutely shocked he hasn't released season tickets. I would have thought this was where he would demonstrate to the courts he could generate income from. I was a bit suprised how the judge skimmed over that last week tbh as if his defence had answered his question about how many people attend the games that would of helped power out there 
But if he releases next season’s STs he’ll have to address reimbursing last season’s. And the chances are the amount needed to be given back will be way more than what’ll be received for any new STs.

Without ST income I can’t see how he can prove he can fund the club. What else has he got?


Title: Re: Lee Power
Post by: Bob's Orange on Wednesday, June 23, 2021, 11:07:06
But if he releases next season’s STs he’ll have to address reimbursing last season’s. And the chances are the amount needed to be given back will be way more than what’ll be received for any new STs.

Without ST income I can’t see how he can prove he can fund the club. What else has he got?

The only thing that springs to mind is the mysterious sale of Waterford. Although that's surely not very much but it's not beyond the realms that Power has somehow managed to gain several million from this 'sale' (even though its more likely to be a few hundred thousand tops)


Title: Lee Power
Post by: Batch on Wednesday, June 23, 2021, 11:08:53
I still don't know legally where he stands re: last year's ticket. Morally we all know...

Putting STs on sale may have been detrimental to his proof of funds if there were far fewer renewing than this time last year - though whether that data is available is another matter
--------
I can't believe Waterford were worth much. Though it may discharge funding commitments I suppose


Title: Re: Lee Power
Post by: horlock07 on Wednesday, June 23, 2021, 11:19:09
Am i right in thinking if Power doesn't respond by Friday then there is now next hearing as such

I assume that that would leave Power in contempt of court?


Title: Re: Lee Power
Post by: FreddySTFC! on Wednesday, June 23, 2021, 11:45:07
If he is 'able' to prove that he can continue to find the club then surely one of the first things he'd be forced to commit to would be the repayment of the hardship loan that we accepted from the EFL to assist with wage payments.


Title: Re: Lee Power
Post by: Flashheart on Wednesday, June 23, 2021, 11:48:37
He's being told to prove he can fund the club 'until September', so I'm not sure if the hardship loan would necessarily have to be accounted for.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, June 23, 2021, 12:02:53
Message from McGreal saying they are in advanced negotiations with 6 players which he is hopeful to have tied up before August.

Not able to say more due to the ongoing court proceedings.



Title: Re: Lee Power
Post by: Jimmy Quinn on Wednesday, June 23, 2021, 12:05:42
All sounds very positive and probably the best we can hope for at the moment.


Title: Re: Lee Power
Post by: Batch on Wednesday, June 23, 2021, 12:08:25
Quote from: The Artist Formerly Known as Audrey
Not able to say more due to the ongoing court proceedings.

intriguing


Title: Re: Lee Power
Post by: tans on Wednesday, June 23, 2021, 12:09:04
Reading that statement regarding the signings being in before august but they cant talk about them due to the ongoing court case makes me think this will be done sooner rather than later


Title: Re: Lee Power
Post by: china red on Wednesday, June 23, 2021, 12:18:22
Reading that statement regarding the signings being in before august but they cant talk about them due to the ongoing court case makes me think this will be done sooner rather than later

This was my initial thought


Title: Re: Lee Power
Post by: ThreeDrawsMentality on Wednesday, June 23, 2021, 12:21:58
This was my initial thought
Same here. Can only think that an embargo would be placed if we were undergoing a takeover. Can't recall anything in the court cases so far that would prevent signings, unless we were planning to pay fees on all 6 of these potential signings and the hardship loan conditions preventing that, but feel that scenario of signing 6 players for free under Power as unlikely!


Title: Re: Lee Power
Post by: Jimmy Quinn on Wednesday, June 23, 2021, 12:22:49
Apart from horses and a few properties he purchased with Sherwood what other business is Power involved with that used to take him to the US frequently


Title: Re: Lee Power
Post by: Nemo on Wednesday, June 23, 2021, 12:40:45
I don't quite understand why they'd be able to announce Wollacott and Sweeney, but not any of the other six?


Title: Re: Lee Power
Post by: horlock07 on Wednesday, June 23, 2021, 12:42:50
I don't quite understand why they'd be able to announce Wollacott and Sweeney, but not any of the other six?

Happy to be corrected here, but weren't they done before the most recent court hearing, I assume something has changed since then.


Title: Re: Lee Power
Post by: Flashheart on Wednesday, June 23, 2021, 12:44:51
My guess is that Clem's in control (financialy or otherwise) in signings from now on.

Hence why they can't be discussed until stuff is done.


Title: Re: Lee Power
Post by: horlock07 on Wednesday, June 23, 2021, 12:49:48
The pessimist in me still fears that we will get it sorted with Clem taking over, all get excited, and then the club will get absolutely clobbered by the FL for the Agent ownership thing!


Title: Re: Lee Power
Post by: Quagmire on Wednesday, June 23, 2021, 12:49:50
Happy to be corrected here, but weren't they done before the most recent court hearing, I assume something has changed since then.

Correct - both signed before last Tuesdays case.


Title: Re: Lee Power
Post by: Berniman on Wednesday, June 23, 2021, 12:59:30
I think there is a lot of 2+2=5 happening here.  More likely that Power is holding off handing out the contracts until he sees where the next court hearing takes us - remember his hand changed considerably after the last hearing - signing the 2 initially might have looked like a good idea until he realised that he had scored a massive own goal.

I still don't think this will be resolved ahead of the new season


Title: Re: Lee Power
Post by: FreddySTFC! on Wednesday, June 23, 2021, 13:01:51
He's being told to prove he can fund the club 'until September', so I'm not sure if the hardship loan would necessarily have to be accounted for.
I assumed that the hardship loan was to cover ongoing wage costs. & that subsequently if Power confirms on Friday that he is able to continue to fund the club then he should be accountable for those costs. Might have that completely wrong mind!


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, June 23, 2021, 13:02:05
My guess is that Clem's in control (financialy or otherwise) in signings from now on.

Hence why they can't be discussed until stuff is done.
Yep. Sounds like a fait accompli.

Whoever the players are, they must have been given some assurances, otherwise they’d be left scrabbling around for a club.

End game!


Title: Re: Lee Power
Post by: Crackity Jones on Wednesday, June 23, 2021, 13:08:13
Putting 2+2 together; one of the 6 must be Harry Kane. It's the only logical explanation for his out of sorts Euro performances :pint: :pint: :pint: :pint: :pint:


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, June 23, 2021, 13:12:53
Just in case some may want to read the article for themselves

https://www.swindontownfc.co.uk/news/2021/june/a-message-to-the-fans-from-the-gaffer/


Title: Re: Lee Power
Post by: 4D on Wednesday, June 23, 2021, 13:22:23
Always makes me think of this  :)

https://youtu.be/2YN0QA_h9Tk


Title: Re: Lee Power
Post by: DV Canio on Wednesday, June 23, 2021, 14:32:41
He sounds like an TEF ITKer

We’ve got signings lined up but I can’t tell you who they are...


Title: Re: Lee Power
Post by: Nemo on Wednesday, June 23, 2021, 14:41:35
Will they knock our socks off?


Title: Re: Lee Power
Post by: Panda Paws on Wednesday, June 23, 2021, 14:44:12
No idea why you would say we have 6 signings ready to go when the court case is over if you were planning on fighting tooth and nail until September...


Title: Re: Lee Power
Post by: Flashheart on Wednesday, June 23, 2021, 14:54:45
No idea why you would say we have 6 signings ready to go when the court case is over if you were planning on fighting tooth and nail until September...

The message didn't come from Power. It came from McGreal. We don't know what input Power had into the message, if any.



Title: Re: Lee Power
Post by: Panda Paws on Wednesday, June 23, 2021, 15:08:44
It would obviously have been approved by LP and/or SA.


Title: Re: Lee Power
Post by: Flashheart on Wednesday, June 23, 2021, 15:12:56
We don't know that. We don't know what is going on behind the scenes right now. For all we know, Power might have already given up by now, which would hardly be beyond the realms of reality. He's expected to provide evidence to the court in 2 days after all.


Title: Re: Lee Power
Post by: Shrivvy Road on Wednesday, June 23, 2021, 15:16:05
No idea why you would say we have 6 signings ready to go when the court case is over if you were planning on fighting tooth and nail until September...
Unless you wanted to sell a few season tickets quickly that's about it


Title: Re: Lee Power
Post by: Tails on Wednesday, June 23, 2021, 15:17:12
Suppose you could look at this with the view that McGreals statement means that Power will give up soon but he seems to want to cling on and that worries me. Surely he doesn't have much left to win this now? We all know he can't fund it, Waterford won't have been worth much, he has no ST money, sponsors have all but gone (except a bizarre new club which will last 6 months). The only way he can have the money is if he's duped someone else into giving him more.

Really don't understand his angle. Interesting to hear what he comes up with for Fridays deadline.


Title: Re: Lee Power
Post by: JoeMezz on Wednesday, June 23, 2021, 15:28:55
Presuming Power has blocked us from signing players, would that not suggest he doesn’t have the funds to keep us going?


Title: Re: Lee Power
Post by: Tails on Wednesday, June 23, 2021, 15:37:57
Also, I'd imagine most half decent players will have several offers. Imagine being told "yeah we'll offer you a contract when the court case is done sometime in September". You'd just sign somewhere else surely? Unless for some reason Power is blindly optimistic he'll win.


Title: Re: Lee Power
Post by: Flashheart on Wednesday, June 23, 2021, 15:40:31
Presuming Power has blocked us from signing players, would that not suggest he doesn’t have the funds to keep us going?

I've a hunch it's more a case of Clem now holding the reins, but can't actually do much until all the legalities have been finalized.


Title: Re: Lee Power
Post by: Batch on Wednesday, June 23, 2021, 15:53:44
Quote from: Flashheart
I've a hunch it's more a case of Clem now holding the reins, but can't actually do much until all the legalities have been finalized.

Kind of makes sense to me tbh.

Can't think what else the point is of a block on announcements if the case isn't until after the window shutting

(other than as DRS says, season ticket sales)

There is the monitored grant that may be restricting us, but I don't see the link unless power has paid it off and doesn't want Clem to know yet for some reason


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, June 23, 2021, 16:03:20
I’ve re-read the statement and I find this bit intriguing

‘The club are currently not in a position to announce these signings due to the ongoing court case regarding the ownership of Swindon Town.’

That, to me, sounds like these players have already signed. If they are still just potential targets they wouldn’t be announced at all - until they signed.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, June 23, 2021, 16:32:44
Nixon reckons we’ve signed more than 6!


Title: Re: Lee Power
Post by: Costanza on Wednesday, June 23, 2021, 16:36:14
No potential player is going to hang around for a month.


Title: Re: Lee Power
Post by: Panda Paws on Wednesday, June 23, 2021, 16:40:06
Nixon reckons we’ve signed more than 6!

Well, he reckons we've contacted more than 6, and "invited them to train". So, we've got loads of trialists.


Title: Re: Lee Power
Post by: Shrivvy Road on Wednesday, June 23, 2021, 16:59:39
Well, he reckons we've contacted more than 6, and "invited them to train". So, we've got loads of trialists.
He does say we have signed more than 6 and that we also have all the trialists


Title: Re: Lee Power
Post by: Bogus Dave on Wednesday, June 23, 2021, 17:04:21
Block on announcements will be a transfer ban won’t it? For unpaid loans? We can have agreed contract terms with whoever we like, but untill they get green lighted by the football league we can’t announce them as they haven’t happened?

Don’t think that necessarily means anything either way about power either.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, June 23, 2021, 17:05:46
Trialists are never announced - although some eagle eyed fans manage to identify some. Can’t understand why a statement is needed to say we’ve got some trialists - or, for that matter, that we’ve got some targets.

Got to be more to it than that.


Title: Re: Lee Power
Post by: Quagmire on Wednesday, June 23, 2021, 17:06:29
He does say we have signed more than 6 and that we also have all the trialists

The way I read it, it was all just trialists unless I’ve missed the tweet where he says we had signed them.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, June 23, 2021, 17:07:31
Block on announcements will be a transfer ban won’t it? For unpaid loans? We can have agreed contract terms with whoever we like, but untill they get green lighted by the football league we can’t announce them as they haven’t happened?

Don’t think that necessarily means anything either way about power either.
That is a good point.


Title: Re: Lee Power
Post by: horlock07 on Wednesday, June 23, 2021, 17:12:51
The fact that the club have felt the need to make an announcement at all suggests a possible thawing of the silence we have faced for most of the season!

Possibly the sign of new instructions being given to the media team?


Title: Re: Lee Power
Post by: Shrivvy Road on Wednesday, June 23, 2021, 17:15:55
The way I read it, it was all just trialists unless I’ve missed the tweet where he says we had signed them.
Someone messaged him and said Swindon apparently signed 6 players and he replied with it's more than 6. He then answered someone else about trialists


Title: Re: Lee Power
Post by: Batch on Wednesday, June 23, 2021, 17:17:40
a load of trialists at Melksham will do me.

#preSeason


Title: Re: Lee Power
Post by: The Grim Reaper on Wednesday, June 23, 2021, 18:49:15
It has been a quiet week.
No comment from Power, the club, the trust or Clem. Guess things are happening in the background.


Title: Re: Lee Power
Post by: ron dodgers on Wednesday, June 23, 2021, 20:19:54
Power is on holiday


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Wednesday, June 23, 2021, 20:30:48
Power is on holiday
That worked well for his solicitor at the last hearing!


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Thursday, June 24, 2021, 06:34:20
If we are under some sort of embargo until the EFL loan is repaid, doesn’t that just apply to paying fees for players, not signing players on frees?


Title: Lee Power
Post by: Batch on Thursday, June 24, 2021, 07:21:13
nobody knows.it could apply to wages too.

I guess it could be as simple as Power not OKing signings until the judge clears him to continue funding the club until September


Title: Re: Lee Power
Post by: Berniman on Thursday, June 24, 2021, 08:46:09
Nixon reckons we’ve signed more than 6!

That could mean these Ghost 6 with Jojo and Jack Regan


Title: Re: Lee Power
Post by: FormerlyPlymRed on Thursday, June 24, 2021, 09:28:23
Apologies all haven't got the time to read through, when is the next hearing?


Title: Lee Power
Post by: Batch on Thursday, June 24, 2021, 09:53:00
Quote
Apologies all haven't got the time to read through, when is the next hearing?
tbc as far as I know.

there should be one to decide if power has the means to continue to fund the club in the next week or so. A decision needs to be made on whether to force a sale if the club is at risk.

then September 5th for the main Standing case.

or it may all get sorted in a gentlemanly way outside court (cough).


Title: Re: Lee Power
Post by: FormerlyPlymRed on Thursday, June 24, 2021, 10:04:08
Nice one thanks for that.


Title: Re: Lee Power
Post by: Nemo on Thursday, June 24, 2021, 10:08:08
or it may ask get sorted in a gentlemanly way outside court (cough).

Pistols at dawn? May be tricky for parties based in Switzerland and Australia. Not sure who would agree to be their seconds... Steve Anderson vs Rob Angus?


Title: Re: Lee Power
Post by: Batch on Thursday, June 24, 2021, 10:09:20
like Steve Anderson would show up


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Thursday, June 24, 2021, 11:02:04
Been listening to The Price of Football podcast. It seems that clubs failing to submit accounts are put in an umbongo but only after the extra 3 months Sunak gave companies due to the pandemic.

The umbongo only applies to paying for players and not frees, loans etc.

Our problem is that salaries are capped at £600,000 pa!

As an aside, over the last 3 seasons Reading’s income had been £53m but paid out over double that on wages alone.

They’re going to come unstuck soon.


Title: Re: Lee Power
Post by: JanAirplaneMan on Thursday, June 24, 2021, 11:51:49
Pistols at dawn? May be tricky for parties based in Switzerland and Australia. Not sure who would agree to be their seconds... Steve Anderson vs Rob Angus?
Power no longer lives in Switzerland, back in UK now up north somewhere


Title: Re: Lee Power
Post by: Batch on Thursday, June 24, 2021, 11:52:38
I didn't know that PP


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Thursday, June 24, 2021, 11:57:53
Can’t we send the boys round?


Title: Re: Lee Power
Post by: Flashheart on Thursday, June 24, 2021, 11:58:26
Paint a message on his drive?


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Thursday, June 24, 2021, 12:00:05
Anyone got a horses’ head?

Donkey at a push!

Morning at Casa Power

https://m.youtube.com/watch?v=VC1_tdnZq1A


Title: Re: Lee Power
Post by: Berniman on Thursday, June 24, 2021, 12:48:44
Anyone got a horses’ head?

Donkey at a push!

Morning at Casa Power

https://m.youtube.com/watch?v=VC1_tdnZq1A

I don't think Donkey will be on board with that suggestion somehow..


Title: Re: Lee Power
Post by: tans on Thursday, June 24, 2021, 15:10:51
Last i heard he still had his house in Brize Norton


Title: Re: Lee Power
Post by: tans on Thursday, June 24, 2021, 16:32:12
Someone asked Nixon whether there was any update on the ownership situation

He replied ‘Shortly’

Make of that what you will


Title: Re: Lee Power
Post by: Posh Red on Thursday, June 24, 2021, 16:36:50
Power no longer lives in Switzerland, back in UK now up north somewhere

I know he has family near Peterborough, but no clue where he lives, maybe next door to Steve Evans :)


Title: Re: Lee Power
Post by: Bob's Orange on Thursday, June 24, 2021, 16:37:26
Someone asked Nixon whether there was any update on the ownership situation

He replied ‘Shortly’

Make of that what you will

I've heard a couple of rumblings that we should expect to hear some news 'shortly' also

Timewise that appears to vary from tomorrow to 2 weeks. So its still very much a case of wait and see. Things sound promising but I'm trying to not get ahead of myself.


Title: Re: Lee Power
Post by: tans on Thursday, June 24, 2021, 17:02:22
Steve Anderson resigned as director of Swinton Reds yesterday


Title: Re: Lee Power
Post by: Flashheart on Thursday, June 24, 2021, 17:05:39
Wouldn't it be great if Clem's reign started with a Friday statement?


Title: Re: Lee Power
Post by: Quagmire on Thursday, June 24, 2021, 17:07:00
Steve Anderson resigned as director of Swinton Reds yesterday

Well this is promising.


Title: Re: Lee Power
Post by: TheDukeOfBanbury on Thursday, June 24, 2021, 17:07:50
It’s coming home ;)


Title: Re: Lee Power
Post by: Bob's Orange on Thursday, June 24, 2021, 17:08:57
Someone asked Nixon whether there was any update on the ownership situation

He replied ‘Shortly’

Make of that what you will

The Alan Nixon type responses from other fans on twitter are really irritating. There will be a 'thread' about STFC boardroom/ownership going on and then random fans of other clubs are wittering on about 'any Fulham news Al', 'What's going on with Derby Al' etc etc.


Title: Re: Lee Power
Post by: Batch on Thursday, June 24, 2021, 17:20:15
Quote from: TheDukeOfBanbury
It’s coming home ;)
🤞🤞🤞🤞


Title: Re: Lee Power
Post by: donkey on Thursday, June 24, 2021, 17:30:49
Anyone got a horses’ head?

Donkey at a push!

Morning at Casa Power

https://m.youtube.com/watch?v=VC1_tdnZq1A

 :dog:


Title: Re: Lee Power
Post by: TheDukeOfBanbury on Thursday, June 24, 2021, 17:55:39
🤞🤞🤞🤞
🍺🍺🍺🍺


Title: Re: Lee Power
Post by: Cowley38 on Thursday, June 24, 2021, 18:08:26
Could it be a happy Friday feeling ?? :beers:


Title: Re: Lee Power
Post by: Batch on Thursday, June 24, 2021, 18:08:28
Quote from: TheDukeOfBanbury
Quote
🤞🤞🤞🤞
🍺🍺🍺🍺

😁😁😁😁


Title: Re: Lee Power
Post by: Peter Venkman on Thursday, June 24, 2021, 18:10:07
The Alan Nixon type responses from other fans on twitter are really irritating. There will be a 'thread' about STFC boardroom/ownership going on and then random fans of other clubs are wittering on about 'any Fulham news Al', 'What's going on with Derby Al' etc etc.
Anything news about BO?

Alan Nixon "Shortly".

It is bloody annoying, he can't know about every club.

The little bits I am hearing today though does please me.


Title: Re: Lee Power
Post by: tans on Thursday, June 24, 2021, 18:10:24
Judgement tomorrow??


Title: Re: Lee Power
Post by: Flashheart on Thursday, June 24, 2021, 18:20:48
Judgement tomorrow??

Oooh.

Exciting stuff.


Title: Re: Lee Power
Post by: Shrivvy Road on Thursday, June 24, 2021, 18:25:02
Judgement tomorrow??
Can we get on for it ?


Title: Re: Lee Power
Post by: tans on Thursday, June 24, 2021, 18:40:28
Its via email according to the listing


Title: Re: Lee Power
Post by: Bob's Orange on Thursday, June 24, 2021, 18:42:10
Oooh interesting. Perhaps tomorrow is judgement day after all. Is this the judgement for the Standing v Power case brought forward then?


Title: Re: Lee Power
Post by: TheDukeOfBanbury on Thursday, June 24, 2021, 18:43:01
Can we get on for it ?

🌶🌶🌶🌶


Title: Re: Lee Power
Post by: Shrivvy Road on Thursday, June 24, 2021, 18:44:29
Its via email according to the listing
I will await your email then  :)


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Thursday, June 24, 2021, 18:45:39
I think we need to show our appreciation for a wonderful 8 years. I’ve got him a card.



Title: Re: Lee Power
Post by: cdakev on Thursday, June 24, 2021, 18:57:11
Hopefully the judge will give him a red card for reckless behaviour in attempting to run a football club and ban him from ever being allowed to be a director of any football club and we can all move on from this poor chapter in our history.


Title: Re: Lee Power
Post by: stfcjack on Thursday, June 24, 2021, 20:04:05

Just posted from the ‘ThroughTheGrapeVine’ account on Twitter. No idea the validity of the account but has certainly got things correct in the past. Wrong too though I have to mention. But the rumours seem to be hotting up.


‘Swindon chairman update - Lee power has lost his battle to keep in charge of Swindon. Clem Morfuni is the new chairman of Swindon. More info on this when we get it. #STFC’


Title: Re: Lee Power
Post by: Flashheart on Thursday, June 24, 2021, 20:43:03
Oooh interesting. Perhaps tomorrow is judgement day after all. Is this the judgement for the Standing v Power case brought forward then?

It's labelled Standing vs Power, but they all have been - including the ones that were all about Clem.

Tomorrow is a judgement and it won't be a judgement regarding Standing's shareholdings because we've not even had the trial for that yet. It must be a judgement on Clem's shareholding because there's nothing else to give a judgement on (unless I've missed something which is entirely possible).

Also, there was no hearing or judgement scheduled for tomorrow. It wasn't due to come for another week or so after the deadline for Power to show his evidence (which was tomorrow). Something's changed.

Considering tomorrow is the deadline for Power to show his evidence, and there was no hearing or judgement scheduled, I can only think the evidence is not forthcoming so the judge will be ordering the transfer of shares.

Let's hope I'm right.


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Thursday, June 24, 2021, 20:48:59
So if the Power v Clem is decided - pray to God - would the future outcome of the Power v Standing case have any bearing on the football club? Would it just be a civil matter between the 2 of them to sort out?

If the club is sold to Clem for £250,000 surely Standing would only get 42.5% of that off of Power.


Title: Re: Lee Power
Post by: Flashheart on Thursday, June 24, 2021, 20:52:33
My guess is that Clem and Standing will sort it out among themselves out of court.


Title: Re: Lee Power
Post by: Batch on Thursday, June 24, 2021, 20:58:45
unless it's the pre-emption judgement formalised.

But that was due straight after the last hearing, and with the noises coming out I'm optimistic something has changed and he's doing one


Title: Re: Lee Power
Post by: Tails on Thursday, June 24, 2021, 20:59:09
Trust are quiet so I'm assuming they know something


Title: Re: Lee Power
Post by: leftside on Thursday, June 24, 2021, 21:02:10
Judgement + 6 signings + reveal of Germany-style away kit would make for a pretty good Friday 🙂


Title: Re: Lee Power
Post by: TheDukeOfBanbury on Thursday, June 24, 2021, 21:08:09
It’s coming home.


Title: Re: Lee Power
Post by: china red on Thursday, June 24, 2021, 21:09:27
Is there actually a hearing in the court scheduled for tomorrow now?


Title: Re: Lee Power
Post by: Flashheart on Thursday, June 24, 2021, 21:14:54
Is there actually a hearing in the court scheduled for tomorrow now?


Not a hearing, but a judgement. 10:30 am


Title: Re: Lee Power
Post by: Quagmire on Thursday, June 24, 2021, 21:16:14
It’s coming home.

If you know something can you not just say it?


Title: Re: Lee Power
Post by: Cowley38 on Thursday, June 24, 2021, 21:17:40
If you know something can you not just say it?

The Power has gone out!


Title: Re: Lee Power
Post by: DV Canio on Thursday, June 24, 2021, 21:25:51
 :beers:


Title: Re: Lee Power
Post by: Panda Paws on Thursday, June 24, 2021, 21:42:11
A sign.

https://twitter.com/pieman80/status/1408160046526124037?s=20


Title: Re: Lee Power
Post by: Legends-Lounge on Thursday, June 24, 2021, 22:02:10
A sign.

https://twitter.com/pieman80/status/1408160046526124037?s=20

Eliminating the match day grub competition already, my god, Morfuni clearly means business.


Title: Re: Lee Power
Post by: MangoRed on Thursday, June 24, 2021, 22:32:39
Can someone please send a link to where it shows a judgement is due to be made tomorrow 10 30am


Title: Re: Lee Power
Post by: Flashheart on Thursday, June 24, 2021, 22:36:08
Can someone please send a link to where it shows a judgement is due to be made tomorrow 10 30am

https://www.gov.uk/government/publications/business-and-property-courts-rolls-building-cause-list/business-and-property-courts-of-england-and-wales-cause-list


Title: Re: Lee Power
Post by: MangoRed on Thursday, June 24, 2021, 22:52:12
Thanks FH


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Friday, June 25, 2021, 06:30:04
Steve Anderson resigned as director of Swinton Reds yesterday
And Seebeck


Title: Re: Re: Lee Power
Post by: horlock07 on Friday, June 25, 2021, 07:16:16
And Seebeck
And ceased to be a person of significant control at stfc Ltd.

Strange things are afoot at the circle K


Title: Re: Lee Power
Post by: The Artist Formerly Known as Audrey on Friday, June 25, 2021, 07:43:59
I’m off out for a bit. Better be some good news when I get back.

https://m.youtube.com/watch?v=2ViZqQkddCc


Title: Re: Lee Power
Post by: skiptotheLouMacari on Friday, June 25, 2021, 08:01:33
Working a late today with no Internet access so come 9pm I'll be hoping to read he has left the club and those 6 signings announced. #feelgoodfriday
However I don't start till 1300 so may hear prior, that will make a mundane Friday in to a more acceptable late shift