Holy crap. This is from the todays Adver...
Swindon Town: BEST would not play ball - Diamandis
Comment | Read Comments (1)
MIKE Diamandis today reveals the behind-the-scenes issues surrounding the Town takeover saga.
After confirming the club have agreed a deal with a new investor, which is hoped to be concluded on November 16, the Wills family's advisor has explained why the deal with BEST Holdings broke down.
He admitted that an £8million debt to shareholders caused a problem between both parties but insisted the reason he pulled the plug on the deal was because BEST had not fulfilled agreed financial commitments.
Diamandis also revealed that the new investors want the current board to remain upon completion of the new takeover and that they are so wealthy that "a million pounds is neither here nor there for them".
In a desperate plea to fans he urged them to get behind the club and warned that should protests turn violent it could spell the end of Swindon Town.
During his exclusive interview with the Swindon Advertiser, Diamandis insists he is still at a loss to work out exactly why BEST failed to deliver what he believed they would.
He maintains the club's majority shareholders, the Wills family, have never been motivated by greed, revealing any future profit would only be triggered by stadium development.
Diamandis echoed the club's claims yesterday that a payment of £8million over five years was in fact a suggestion from BEST Holdings as they looked to get the best deal they could out of any future development. He said: "We signed the deal (with BEST) and were told agreed payments would follow in 10 days.
"We then left it another six weeks. A contract can only be completed with the money.
"There were continuous discussions on how the contract could be amended. There were no issues left, all we were doing was waiting for the money.
"The deal kept changing and our lawyers kept redrafting. Eventually I did not want to pay any more deals until BEST put up £250,000 to go to the Inland Revenue."
BEST representative Jim Little said last night he would only comment after reading Diamandis' full interview and consulting his lawyers.
