Consortium News

[pauld]

Lumps, I've made the point here and on the other thread you (needlessly) created that your slanted view of this seems to come from a serious misunderstanding of how events have unfolded and how the club is run. Fair enough, it's complex and there's been a lot to keep up with - but would you care to answer some of those points rather than picking off the easy ones and striding off to the moral high ground every 20 seconds like some kind of cross between Mary Whitehouse and a deranged mountaineer?

[DiV]

Lumps = Diamandis!

[Bogus Dave]

With respect Lumps, I can't help thinking that you are going to look a bit of a tool when the truth does come out about how this football club has been run in recent years.

La la la im not listening. and my dads bigger than your dad :face:

[DiV]

also, if it was Devlins fault for not paying it do you not think the board would have already publically stated this?

They've been quick to point the finger in the past, why should this be any different?

[sonic youth]

rather than picking and choosing which posts to reply to lumps, why not try to respond to all of them? after all you're perfectly happy to cast aspersions on all and sundry with regards to our blinkered views and the such like.

[pauld]

One question Mike - you say significant financial backing...I take it that would be to purchase a certain amount of shares and obtain a place on the board. What I'm concerned about though is whether we'd be able to fund the club's lump sum debts that constantly crop up - the CVA payments, rents, etc etc.

Great work - it is so so good to see a group of fans getting off their arses and doing something.

Moonraker, I think it would be fair to say that any serious negotiation with any group claiming to have serious backing would have to proceed on the basis that they could demonstrate they could meet the club's existing liabilities (which the current regime admit they cannot - ie the CVA final payment due next July) and be in a position to then stabilise the club as a business and then move it forward.

[Frigby Daser]

Right...obviusly we need long-term stability and funding to match - not just the funds to get a voice.

[arthurhorsfield]

The consortiums backers are fully appraised of all publically identified outstanding liabilities, what nobody has is the exact state of the current financial situation.  This will only be evident when the clubs owners allow for due diligance to commence; it is clear that all is not well with the CVA at least, or renegotiatons would not be needed (as they are dangerous to the clubs long term stability i.e. what happens if they fail?) so we know that they owe £100k from last May for the 2006 payment we also know that they owe a further £900k next June and we can assume that they owe BP £1.2m.

Currently my backers have a full understanding of the issues above and are willing to indemnify them as part of any deal, they will not however deal with Michael Diamandis as part of the negotiation, he is not a Director, declared shareholder or  officer of any company associated with Swindon Town, but is a major supplier and therefore has a  major conflict of interest.

[red macca]

Arthur a couple of questions for you..

how much backing do you have already? ball park figure if you can

the backing,is it from local companies or individuals

do you want me to ring sinli sangh shui at honda for you

[Reg Smeeton]

The consortiums backers are fully appraised of all publically identified outstanding liabilities, what nobody has is the exact state of the current financial situation.  This will only be evident when the clubs owners allow for due diligance to commence; it is clear that all is not well with the CVA at least, or renegotiatons would not be needed (as they are dangerous to the clubs long term stability i.e. what happens if they fail?) so we know that they owe £100k from last May for the 2006 payment we also know that they owe a further £900k next June and we can assume that they owe BP £1.2m.

Currently my backers have a full understanding of the issues above and are willing to indemnify them as part of any deal, they will not however deal with Michael Diamandis as part of the negotiation, he is not a Director, declared shareholder or  officer of any company associated with Swindon Town, but is a major supplier and therefore has a  major conflict of interest.

  How can this likely impasse be got round then......

[Fred Elliot]

I think the stumbling block Reg is the reluctance for the STFC major players to commit to any form of NDA's that the consortium require to move this forward.

[Reg Smeeton]

I think the stumbling block Reg is the reluctance for the STFC major players to commit to any form of NDA's that the consortium require to move this forward.

  Sorry what's an NDA?

[red macca]

so its basically a no go then fred?

[Fred Elliot]

Non Disclosure Agreement

Its an agreement betwen parties that states that whatever is discussed around a negotiation table and any further arenas, stays around the negotiation table etc  and is not knowledge to any third parties that could have an impact, detrimental or otherwise to the ongoing talks.

Hope that helps Reg

[Fred Elliot]

so its basically a no go then fred?

Problems are there to be solved Deano and I am sure that they will be