Consortium News

[Spud]

I still think someone who can get on the bank should stick a 'DIAMANDI'S OUT' flag up to show us what we think of this Cunt, or better still get a huge one to go across the fans in the TE.

[STFC_Gazza]

I still think someone who can get on the bank should stick a 'DIAMANDI'S OUT' flag up to show us what we think of this Cunt, or better still get a huge one to go across the fans in the TE.

And that is really going to help matters. The club have openly said come and buy us out if you have the money, I think putting flags etc out slating Diamandis is hardly going to help matters.

[Christy]

So have 'the club' whoever that is, actually refused to sign an NDA?

Or are we going off on one on the possibility that they might not?

[Reg Smeeton]

Shhhh, the eagle flies at dawn.

 I thought the eagle flies with the dove

 And if you can't be with the one you love

 Love the one you're with

[Simon Pieman]

DIAMANDI'S OUT

Is Diamandi out then?

[Spud]

I still think someone who can get on the bank should stick a 'DIAMANDI'S OUT' flag up to show us what we think of this Cunt, or better still get a huge one to go across the fans in the TE.

And that is really going to help matters. The club have openly said come and buy us out if you have the money, I think putting flags etc out slating Diamandis is hardly going to help matters.

Isnt he the one who is blocking the financial takeover then?

[RobertT]

So have 'the club' whoever that is, actually refused to sign an NDA?

Or are we going off on one on the possibility that they might not?

The original poster is attempting negotiations with the club, directly, so I'd be inclined to think they were telling it as it is rather than be a 3rd hand rumour creator.

[TalkTalk]

Beeb Swindon were reporting this morning that the fans' consortium are ready to enter into negotiations with the club on a possible takeover and that they have sufficient funding to cover all known liabilities including the CVA and Bill Power's £1.2M.

This was followed by an unbelievable phone-in exchange between Mike Wilks and Martyn Smarmes over proof of funding.

The club couldn't try harder to make it any more difficult for the consortium to get involved.

Wankers.

[pauld]

What was most astonishing was the blatant way they keep moving the goalposts - in any other business transaction, the bona fides presented to SSW would be accepted as sufficient to progress to more detailed negotiations. Especially if you're a business that has admitted it doesn't have the money to meet a CVA payment that will put the club under in just over 6 months, being approached by a group of people who can cover not just that debt but all the other liabilities the club has, and take the club forward. Something this board is palably incapable of.

The Fans Consortium has met all the criteria the board and SSW set down back in September (sufficient funds, interests of the club at heart, ability to take club forward) and now they're moving the goalposts again - it's almost as if they don't want to hand over to people who could run the club properly.  Starnes seemed to be pulling out all the stops to prevent due dlilgence taking place - that's the bit where the bidding party gets to see the books. Makes you wonder what they're worried about people finding out.

[janaage]

If the consortium have met the conditions laid down by the board, it's time for the powers that be to step aside!

Demo time???

[Panda Paws]

If the consortium have met the conditions laid down by the board, it's time for the powers that be to step aside!

Trouble is I don't think they're under any legal obligation to sell unless they want to ...

[janaage]

Yeah I appreciate that mate, but they publically stated that if certain conditions were met they'd go, now Paul D is saying they have met those conditions and now the board have changed the criteria.

[Panda Paws]

Yeah I appreciate that mate, but they publically stated that if certain conditions were met they'd go, now Paul D is saying they have met those conditions and now the board have changed the criteria.

Yeah, I know ... I'm on your side  I'm just saying if they changed their minds for whatever reason we can't force them to sell just because they said they would.

Other thing I thought ... if they're worried about stuff getting out from due dillegence ... I thought the process was supposed to be confidential? Surely whatever they see in the books they can't talk about outside the club anyway ...

[Piemonte]

So if the consortium gained control, how would it work?  Is all the money being put through the trust so the trust would control the shares or would the individuals who had invested have control of their own stake?  How would it be decided who got a seat on the board.

I'm assuming from what has been said so far that there are not sufficient funds in place for a full takeover

[Batch]

What was most astonishing was the blatant way they keep moving the goalposts ..<snip>

Sorry Paul, I don't think it's astonishing at all.

In fact I predict the next move will be for a club line of 'agree with takeover in principle...but only if all the loans SSW has made to the club are repaid in full' followed by a random figure of £10M.

If this happens I can kind of see why someone would like to get a return on their investment. But it's unrealistic unless a redevelopment happens. And that is a massive gamble, tyring to keep a club going on peanuts just in case it goes ahead.

Personally (and I am as far removed from the club as can be) I don't know if there is anything to hide other than questionable competence in running the club. I'd like to think not. But given the panic measure of a share reissue to cover the CVA I can't see what they have to lose by starting negotiations.