Power gets a right slagging on the OS

[Colin Todd]

http://www.swindontownfc.premiumtv.co.uk/page/NewsDetail/0,,10341~1154871,00.html

Love the logic. The club cant afford to pay back loans so would of course never take any from anywhere under any circumstances.

SO HOW THE FUCK IS THE CLUB £18m IN DEBT?

[reeves4england]

http://www.swindontownfc.premiumtv.co.uk/page/NewsDetail/0,,10341~1154871,00.html

Love the logic. The club cant afford to pay back loans so would of course never take any from anywhere under any circumstances.

SO HOW THE FUCK IS THE CLUB £18m IN DEBT?

Bit harsh - firstly I thought it was stated that we are nowhere near £18m in debt, and secondly he makes the point about a £1m loan being a burden which it obviously would be

Not praising the board as to be honest the way that article is written is prroly attempted propaganda beyond belief, but I do feel people are just slagging the board off for the sake of it now

[Matchworn Shirts]

http://www.swindontownfc.premiumtv.co.uk/page/NewsDetail/0,,10341~1154871,00.html

Love the logic. The club cant afford to pay back loans so would of course never take any from anywhere under any circumstances.

SO HOW THE FUCK IS THE CLUB £18m IN DEBT?

Not praising the board as to be honest the way that article is written is prroly attempted propaganda beyond belief, but I do feel people are just slagging the board off for the sake of it now

I agree with that

[Fred Elliot]

Im sorry

but I just cannot see the point in that statement at all.

Why would anyone remotely want to hang their washing out to dry so publicly

If anyone from the club is reading this.............stop it please, its making us a real laughing stock

[Colin Todd]

If you count the Wills loans, STFC really is £18m in Debt.

I'm not slagging them for the sake of it. I dont think Bill Power is the all conquering saviour of STFC.

I'm slagging them becasue during their tenure they have taken out millions of pounds in loans against the club then claim that BP's money couldnt possibly be a loan becuase they couldnt repay it. Which is totally unlike any other debts accumulated under there stewardship of course. It fails a basic logic test

[Nemo]

"Now that Bill Power and Phil Emmel have seen the strength of our case, I hope we can sit down and resolve this amicably. I await their call."

Wouldn't you be quite happy to go to court if you were convinced of the strength of your case.?

Seems odd. Unless by amicably it means drop the case, instead of settle.

[Fred Elliot]

Apart from anything else, as Bill Power and Phil Emmel well know, neither Holdings nor the Club would have been in a position to repay loans of this amount,




Yes but you are expecting your money back you loaned the club (on top of the interest already paid to you) now aren't you Wills ?

Hypocritical and greedy

[pauld]

I do feel people are just slagging the board off for the sake of it now

Whereas that somewhere bizarre statement fortunately refrains from attacking people for the sake of it. Although in some places it's difficult to work out what the attack actually is other than a general sense of "they is bad folks, them lot". And the whole thing is basically apropos bugger all other than a general lashing out at the usual supsects. Bizarre.

[Bushey Boy]

I would say thats the board trying to get the fans against power.  The simple fact is the money was owed.  The club are clearly worried

The article is worse than my grammer.

[Kinky Tom]

I would say thats the board trying to get the fans against power.

But why?  That's what confuses me, it's not as if Power's ever going to take the club over now is he, nor make another attempt if the Fitton consurtium does come in.

It makes no sense to me at all.

Also it's fucking rich that they come out and say some of that stuff on an official site and we have to watch what we say on a fucking private board.

Sometimes I have trouble believing people like this actually exist in the world...

[sonic youth]

good lord.

what do the board of stfc and sami hyppia have in common anyone?

that's unbelievable. what was the point of it other than to stir up trouble? why is diamandis using the official website to challenge power/emmell, doesn't he have their contact details?

it's akin to standing in the middle of the street and begging everyone to punch you in the face.

[Batch]

Quite frankly this statement even takes the piss by STFC statements standards. I mean WTF? Hads the fat controller had a liquid lunch again?? The only statement that beats this is the strop 'somebody' had 2 days after the clear the air meeting with the Trust.

I guess it is some prelude to trying to get the fans to pressure Power into dropping the court case "for the good of the club".  Thing is, it wasn't the fans that totally and utterly cocked up the relationship between Power and the club. If Power has a case then he is entitled to go for it, it's the clubs doing and the may be the clubs undoing. So stop trying to pin it on other people.

Going to court in cases like this will always show someone "might have got it wrong". If the club are so confident it is Power why come out with this BS.

[Samdy Gray]

What the fuck is the point of that statement? Fred's right, this is an embarrasment and is making the club look fucking stupid.

Why the need to be so public about it like that? A simple press release saying a court writ had been issued and it will be heard in the High Court would have been suffice. Not some 'come and have a go if you think you're hard enough' statement.

Seems to me like Diamandis is scared. Is he afraid something might come out in court that he doesn't want people to know? Like Nemo said, if they were so confident of their case why would they want to talk about it amicably and also threaten Bill and Phil with the "your not fans if you're going to sue us" line.

It really doesn't make sense.

[ahounsell]

If you count the Wills loans, STFC really is £18m in Debt.

Not if you go by the figures in the audited accounts it isnt.

As of 2006, the total debt is about £6.5 million if you assume that the CVA completes successfully (or about £12 million if it fails).

The Wills have loaned money to the club but it is simply nowhere near the figures that have been claimed. The £8 million mentioned by Diamandis the other week as being "in the balance sheet" just isnt there in the accounts either of the club or the holding company.

The only figures in those accounts relating to loans from Wills are £300K owed to James, and £1.2 million owed to Sir Seton on which he has been paid about £175,000 in interest in 2005 and 2006 (about 7%).

It looks to me like they are having difficulty explaining away the court case to our new potential buyer and are trying to deflect the blame.


... and of course they would never accept a loan unless they knew  they could repay it.  

[Summerof69]

"Now that Bill Power and Phil Emmel have seen the strength of our case, I hope we can sit down and resolve this amicably. I await their call."

Wouldn't you be quite happy to go to court if you were convinced of the strength of your case.?

Correct. The court case is near, and this lot are getting desperate.