Bill Power Is the Key to Takeover

[lambourn red]

Which begs the question - how many supposed 'sources' at the club are actually churning out acurate information. Winding-up order, Diamandis being the major hitch in the takeover....

Very good point. Vilifying certain members of this board is a habit that as members of this forum we all slide into.

Don't have a go people, we don't know exactly what is going on and i'm just agreeing with his point. I dislike the board and want them out as much as any of you.

I am starting to agree with you, there are an awful lot of scaremonger's  on these forums. How do we know that there is an HMRC deadline ? I really want these cowboys out of our club but some of the hysterical hype around deadlines and people not selling unless they get 18 trillion pounds payoff.
I think todays message from Fitton sums up the whole thing, it is and always has been about Mike D and BP falling out and we are still paying for that mess now. The board should do the honourable thing settle up with BP and close the sad chapter in the Towns history once and for all.

[RobertT]

We can still blame Mike or the Board as someone is responsible fro trying to ensure Bill's investment is recorded as shares (in an attempt to avoid having to repay him).  The irony would be funny if it wasn't so annoying.

Presumably the best option now is to offer a settlement.

[figgis]

it must be said the 1.2 million will be nothing compared to the sums being made from the ground development. it seems it would be a huge climb down to pay BP his money back or include him in the development profit. either way 1.2 million is a lot of money to you and me.

[RobertT]

Precisely, the easy option right now has to be to just climb down and accept Power's position.  the club then gets to keep all the future profits which should more than outweigh the £1.12m.

[Phil_S]

Why can't Bill Power be part of the consortium??

That would be brilliant & is something I have been hoping for

[Frigby Daser]

Give up! thats not the way business works. Why would Fitton want to share his profits with a stranger? why would he wnat to share his profits at all? He already has a consortium of close business allies.

[wokinghamred]

Why can't Bill Power be part of the consortium??

That would be brilliant & is something I have been hoping for

Not trying to be clever, but I actually thought he would be, on the assumption that he would presumably like to part of it, and no-one would want to settle with him..

Maybe it could still happen.

[Phil_S]

I have for a while thought Bill P would enter the equation, because he allegedly owns shares in the HOLDING Co.  What puzzles be is that he is now alleged to hold shares IN Shaw Park Developments. How did that supposedly happen. !?
Regrdless, though all the club / Will need to do is conceed that it was a loan & that they owe Bill 1.2 million plus costs plus interest.  I'm sure that  contingency has been made for them losing the Court case any way ! ?

[Bogus Dave]

haha you think this board will have a contingency plan  

[wheretherealredsare]

The holding co. owns 50% of SPD it has been said. Therefore if BP "owns" 22-33% of the holding co. he owns 11-16.5% of SPD. As for contingency, that smacks of forward planning, prudent financial management or an admission of defeat. All qualities in abundance at STFC board level.

[Phil_S]

Plaese note I did put ! & ? after that line.
But actually, A fitton, probably has

But if B P's interest in Shaw Park arises through his supposed share ownership in the Holding Company, why the sudden problem now. They haven't consulted Bill on selling another comapny owned by the Holding Company (The Football club itself) to BEST holdings, or is it that Fitton is more thorough & professional than the Amigo's were

[wheretherealredsare]

It seems that AF is indeed more diligent.

The whole who owns what in which company thing is a can of worms though. Depending on which figures you take there seems to be more than 100% in total floating around. Maybe it's a BOGOF organised by somebody in accounts after she (or he ...) heard about double entry bookkeeping.

Whatever shares have been issued, it should all come out this week ... it says here.

[horlock07]

The back drop to all of this is what this perceived value is in the redevelopment of the CG.

It is not a big site and has a covenant on it, where do they think they are going to make millions anyway!

[Phil_S]

The mind set at SN1, is that they can somehow cover the whole 38 acres with houses, surrounding a stadium based on the Madjeski. This is obviously what Bowden had in his head, when he was at the fans forum in February. He refered to it as "potential" & seemed to think it was tens of Millions. I would guess he was told all of this by the existing "General  manager".
Of course if they were ever be able to do this we WOULD be talking massive profits. (How many houses would you get to an acre ?)

Those of us who live in the real world know that it's a total non starter as it would be opposed by the locals, & the Council wouldn't work with the currenty lot any way. They rejected the TRUSTs redevelopment proposals as being "fatally flawed". Bowden as good as admitted that he hadn't looked at said proposals, but there wasn't enough housing (to generate the huge profits they want).

[Spencer_White]

This is absolute rubbish about Power holding up the consortium.

The board owe Power 1.2 million. This will be ratified by the high court in the very near future.

Thats because Bill Power knows that shares in Shaw developments are useless. The whole company is a fraud.