New beginnings - 25% Truth, 80% Bollocks

[Peter Venkman]

I’d be gobsmacked if the amount owed is 100% owed to Clem 🤣

I would be surprised if its more than 30 or 40% owed to Clem.

[Audrey]

Then why is any sale up to Clem to accept or decline?

[TheDukeOfBanbury]

Then why is any sale up to Clem to accept or decline?

Depends if those that want their money back make sufficient noise.

[Ƭ̵̬̊: The Artist Formerly Known as CWIG]

We know it isn't 100% officially anyway. But yeah, even his official portion, I'd not be surprised if he saw less than half of.

[TheDukeOfBanbury]

We know it isn't 100% officially anyway. But yeah, even his official portion, I'd not be surprised if he saw less than half of.

This.
Why did he want to offload 22% of the shareholding?
We all know he ain’t got a pot.

[Audrey]

Wasn’t that to pay off the debenture?

[TheSpiritof69]

Hello everyone,

It's been a while hasn't it? Like all Town fans, we have been thoroughly enjoying watching Ian Holloway's side of late; long may that continue.

We're happy that Kieran Maguire has provided a minor yet important update on the progress of a potential takeover of Swindon Town on the Price of Football podcast. It may be little in detail but it's crucial for non-STFC-related people to put their heads above the parapet to provide information when others are not willing to do.

Clem Morfuni has said on multiple occasions that if the appropriate bids came in, he would consider them.

As is known within the wider football industry, those bids have been coming in but we understand that the already-unrealistic valuation continues to rise. This has been ongoing since the Spring, and goes some way in explaining our continued patience and reduced action, with the end justifying the means.

That patience is now wearing thin.

Refusing offers is CM's prerogative but by doing so he continues to put the future of Swindon Town at risk with the ever-increasing debt the club owes to him.

Unfortunately, the form on the field will not change that.

While it is refreshing to see Ollie build a competitive side, our major concerns remain around the off-field operation. Members of back office staff continue to leave, the club's relationship with TrustSTFC seems as strained as ever and we still await the Advisory Board minutes from mid-August. A well-thought-out County Ground redevelopment seems as distant a dream as ever.

We continue to urge Clem Morfuni and his minority shareholders to put Swindon Town Football Club first, above their own wants, needs and disputes.

[Pericardinho]

The clock is ticking. It won't be long now until the debt surpasses even the 'inflated' Morfuni valuation. When that happens we are pretty toast.

[Frigby Daser]

The clock is ticking. It won't be long now until the debt surpasses even the 'inflated' Morfuni valuation. When that happens we are pretty toast.

At that point, Morfuni has backed himself into a cul de sac, and either sells below his valuation or not at all (which he won’t be able to afford). The impressive recruitment efforts suggest that he wants us up (otherwise, why bother investing on the pitch). Maybe he thinks a sale at his valuation is more viable if we’re a League One club.   

[theakston2k]

The riddle of where the money actually comes from remains the big question and it needs to be answered. We know Morfuni has nothing material to his name so who is it that’s happy to anonymously put money in and for what reason. Just as with Austin, Hart and Kiely it’s the secrecy that’s the concern. There is silence for a reason…

[Ƭ̵̬̊: The Artist Formerly Known as CWIG]

At that point, Morfuni has backed himself into a cul de sac, and either sells below his valuation or not at all (which he won’t be able to afford). The impressive recruitment efforts suggest that he wants us up (otherwise, why bother investing on the pitch). Maybe he thinks a sale at his valuation is more viable if we’re a League One club.   

That is what I'm hoping as well.

[Frigby Daser]

There’s also a clear decision to invest on the pitch at the expense of investing in any non-football and support roles, evidenced by the rapid turnover of non-football staff and where they end up (Eastleigh, and Oxford City!). That’s what someone would do as a last throw of the dice to get us up to L1. Accept off-pitch chaos and missed opportunities. In a way, it’s probably how a lot of clubs were run before social media, when fans wouldn’t find out about half of the stuff we do know, unless Clubcall (!) were on the case.