bill power in today's adver

[Spud]

So we can expect Bob Holt to come out and state that there is nobody out there that wants to buy the Club and if they do then they haven't stated so already.  :-))(

SELL UP NOW FFS!

[sonic youth]

Bob hasn't seen today's Adver, I alerted him to the article and he is going to buy one right now.

Here's a scanned version of today's article:
http://www.thetownend.com/images/power.png
http://www.thetownend.com/images/power1.png

[Bob's Orange]

Bob hasn't seen today's Adver, I alerted him to the article and he is going to buy one right now.

Here's a scanned version of today's article:
http://www.thetownend.com/images/power.png
http://www.thetownend.com/images/power1.png

Thanks for that Sonic.

[Fred Elliot]

Bob hasn't seen today's Adver, I alerted him to the article and he is going to buy one right now.

 :shock:

did he call you mate ?

[sonic youth]

Eventually, I'm meeting him on Monday.

Basically though, the gist of it is:

There's been no concrete offer.
A concrete offer will be considered, accepted if good enough, then enter into NDA and due dilligence to adjust offer accordingly.
Who are the consortium's lawyers and who are they representing? Bill or the Consortium?

In all honesty, I don't know the answers and that worries me slightly. If the board are insisting on an offer before due diligence, why not make one roughly based on the valuation of the club last year? Or even the last set of accounts? Any offer will not be legally binding and can be changed or withdrawn surely, so what's the problem?

The consortium perhaps need to compromise in order to achieve their goal.

[glos_robin]

Was he a kind and understanding fella on the phone then?

No chance that what he said was just spin and was lying as usual is there?

[sonic youth]

Perhaps. I don't have any evidence to suggest that anything he said was wrong, so I'm not going to totally dismiss anything he has to the say - the same applies to anything.

[RobertT]

They know the answer to the Solicitors one, Paul Davis confirmed it at the Fans Forum for Bob - same lawyers they've been in talks with over Bills investment.  Davis & Co as Bob called them I believe.

[lebowski]

sonic, if that's what he's said to you on the phone [that an acceptable offer can be adjusted down, post-due dilligence], then what's with all the bravado and posturing in public?

he seems to be contradicting himself. again.

[sonic youth]

Rob - I think that where's the confusion arises, are the lawyers representing Bill's interest with regards to the share issue or are they representing Bill as the consortium? Perhaps it needs to be made abundantly clear, apparently they've not confirmed - though nor denied - that they represent the consortium.

el duderino - That's not a verbatim quote, but the suggestion was that due dilligence will be entered if offer is satisfactory which would then mean the offer could be adjusted for accuracy's sake.

At the risk of sounding like a self-appointed martyr, I'm willing to listen to both sides of the story as it were.

[DV]

I expect Bob to claim 'there are no accounts'....... :|

[Spud]

I expect Bob to claim 'there are no accounts'....... :|

'There is no CVA payment due'  :shock:

[Summerof69]

I expect Bob to claim 'there are no accounts'....... :|

'There is no CVA payment due'  :shock:

The club has no debts !!!

[RobertT]

The Solicitors are doing both jobs as they are relevant to each other.

Paul Davis clearly answered Bob at the forum when asked who represents the Consortium, so how he can be confused is anyone's guess....."there are no solicitors"

[millom red]

quote="lebowski"]back page of today's (saturday's) adver could not be better timed: power says he's willing to pay over the odds, just as soon as the board give him a justifiable valuation of the club.

"i think the message is for the club to tell us what it's worth, let's examine the books, the debts, and the assets and the like""for example, if the club is worth £4million and they can show me that in black and white i will give them more than £4million. i'm not looking for a free ticket from anyone. tell us what you want?".

over to you sideshow bob!




I sent this to The adver, bbc radio swindon(ed hadwin), the adver, bbc points west, htv west, sky sports news, bbc sport, the gazzette & herald.


I know it's long winded but......




I write with regard to my beloved football club, the enigma that is Swindon Town FC.

I note that for some time now a consortium involving Bill Power, Phil Emmell, Mike Wilkes and the independent TrustSTFC fans movement(with the support of a large number of Town fans, myself included) have approached the club with a view to buying control of the club in order to relieve Sir Seton Wills and his family of their current financial burden with regard the club, in order to put STFC back on a firm financial footing, to move the club back up the football league pyramid, and to secure the long term future of our club.

To my dismay, as a supporter with over 27 years as a regular at the County Ground, and as a member of TrustSTFC, i have recently learned that the club are not being as co-operative as they possibly could be in engaging in these talks and progressing with any meaningfull dialogue with the Consortium.

I can go as far as to say that Mike Bowden, a Club Director, adressed supporteers after the recent home game with Accrington Stanley and stated in front of myself and many others, that a formal offer had yet to be made by the consortium. When Pushed on this, Mr.Bowden suggested that the Consortium should indeed make a formal offer. When i suggested that no offer could be made by anyone, without access to the clubs books in order to make an assessment of the clubs current financial situation, the response was "well make us an offer"!

Could i ask publicly that Mr.Bowden justify this ludicrous comment? One only has to look at the recent transactions involving Liverpool FC, Manchester United, Aston Villa, to name but three, to realise that there is a set format involved in the purchase of a football club, or indeed any business come to that, this being called Due Dilligence. This allows potential purchasers to assess the net-worth/goodwill of the club or indeed it's financial liabilities and or debts. All of the above named clubs, and many like them, have entered into this process and opened their books in order for Due Dilligence to take place. Why is Swindon Town FC any different? What is there to hide?

On a seperate note, i understand that Mr.Bowden recently attended a County Ground area residents meeting to talk about the possible re-development of the existing County Ground Stadium footprint. He had vey little of interest to say to the residents of any note, other than any re-development would involve encroaching onto the green spaces that surround the ground.. This was met with short thrift.
The club have no actual plans drawn up to my knowledge and this was apparent at the meeting.
Contrast this with the Consortium/Trusts plans that were put together in consultation with residents groups and the local Ward and Borough councillors, as well as Anne Snelgrove, and it makes me wonder if the club have any idea about what they are trying to achieve. That is if they want to stay in Swindon at all!

I, as a fan(and im sure the vast majority like me) have had enough of all the lies and spin that eminates from the current Board.
The accounts not up to date, the cva not being paid on time and the mis-information released by the club regarding this, resistance to engage with the Consortium.....the list goes on and on.
Where has Mr Powers's £1.2million gone? Where has all the money gone from the transfer of messrs Parkin and Fallon, the concert money, the Wise & Poyet compensation, not to mention the increase in match day revenue as a result of higher attendences?
Why has the CVA not been paid in light of these increased revenues, with the club now seeking to re-structure these payments.
Now that Lucas J is of to Everton FC, will the cva bullett payment now be met in full?

Enough is Enough.
Bob Holt stated recently that the incumbent board would "burn Leather" to get out of SN1 if an acceptable offer were to be made.

Well Mr.Holt, show us you are a man of your word and open the books(as has been done elsewhere) in order that the Consortium CAN make a non-blind offer based on the current financial situation at the club.

Yours,
Matt M
address supplied etc etc