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jevs

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« Reply #405 on: Thursday, May 6, 2021, 13:41:59 »

The £7.5mwas actually Able’s Supposed bid - according to the letter that never was.

Clem has said he has offered in excess of that figure. The Highworth golf course has nothing to do with the club sale.

I do find it difficult to see what anyone actually gets for £7.5m though.

If the club is sold for £7.5m it would see Power and Standing getting £3.185m each - if Standing does, indeed, own half of Power’s share.

OK, thanks. The £7.5m ish figure I suppose roughly corresponds with £1.1m for 15%, Morfuni could end up Bill Power for a new generation. As you say the figure doesn't relate to the tangible assets, turnover or any normal metric excepting all us idiots goodwill.

Maybe Morfuni should have offered to pay in CGT free gold, that goes down well in Switzerland I understand.

It's hard to see how Power 'wins' the court cases - he seems to agree that either Standing or Barry own/are owed half and has handed over Morfuni's share but it seems to me that he still holds all the cards while he still runs the clubs finances and I have no clue who is feeling more pain with the court case
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Panda Paws

« Reply #406 on: Thursday, May 6, 2021, 13:44:37 »

Power has also bought Blacks £2m debt, for less than £2m. But he of course would be owed that in full from any future sale.
He knows what he’s doing.

Especially if he didn't front the cash...
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jevs

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« Reply #407 on: Thursday, May 6, 2021, 14:04:53 »

Especially if he didn't front the cash...

Would the debenture have been cancelled had the club been taken into admin?
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Legends-Lounge

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« Reply #408 on: Thursday, May 6, 2021, 14:39:54 »

Power has also bought Blacks £2m debt, for less than £2m. But he of course would be owed that in full from any future sale.
He knows what he’s doing.

“He knows what he’s doing.” Of that you can be sure. I’d cover that by adding so do Standing, Clem, their Barristers and the judge. I don’t believe Power is fooling anyone further up the greasy pole.
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horlock07

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« Reply #409 on: Thursday, May 6, 2021, 14:48:38 »

“He knows what he’s doing.” Of that you can be sure. I’d cover that by adding so do Standing, Clem, their Barristers and the judge. I don’t believe Power is fooling anyone further up the greasy pole.


I think he was 'being' clever until a) he got Clem involved as he has proven a rather belligerent investor unlike the back of envelope spit in palm ones we seem to have had previously and b) covid struck which fucked it all up.

What I see now is someone desperately trying to keep plates spinning whilst trying to rip the radiators off the walls.

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Legends-Lounge

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« Reply #410 on: Thursday, May 6, 2021, 15:06:05 »

I think he was 'being' clever until a) he got Clem involved as he has proven a rather belligerent investor unlike the back of envelope spit in palm ones we seem to have had previously and b) covid struck which fucked it all up.

What I see now is someone desperately trying to keep plates spinning whilst trying to rip the radiators off the walls.



Very much my thoughts.
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tans
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« Reply #411 on: Thursday, May 6, 2021, 16:02:44 »

Especially if he didn't front the cash...

Are you suggesting someone else has paid it?
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RobertT

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« Reply #412 on: Thursday, May 6, 2021, 18:00:41 »

Best guess, Standing paid most of the Operating costs.  A sale for a quid but with the debts being honoured possibly provides Power what he needs to avoid a CGT bill but also protection of the income for the debts.  Standing then has to get in line to sue him for any money he thinks he channeled in.  That's Powers best exit.

Having a co-owner creates a problem - they can decide against that sale and go for one that gets more money upfront and probably go through the Courts to get a decision.
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Panda Paws

« Reply #413 on: Thursday, May 6, 2021, 18:11:51 »

Are you suggesting someone else has paid it?

No. I'm not suggesting anything.

But if you can buy a £2m debenture for £200k of someone else's money, say, and finance that by promising said someone £400k of the £2m... it's a pretty good deal.
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tans
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« Reply #414 on: Thursday, May 6, 2021, 18:16:00 »

No. I'm not suggesting anything.

But if you can buy a £2m debenture for £200k of someone else's money, say, and finance that by promising said someone £400k of the £2m... it's a pretty good deal.

Makes sense, i thought the full stops at the end of your post meant you knew something. My bad
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Legends-Lounge

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« Reply #415 on: Thursday, May 6, 2021, 18:40:28 »

Maybe the net is closing.
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theakston2k

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« Reply #416 on: Thursday, May 6, 2021, 22:53:41 »

Wherever the money is coming from at least they are doing a proper renovation of the pitch and sorting out the drainage issues.

https://twitter.com/ecosolturfcare/status/1390287193596473345?s=21
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singingiiiffy

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« Reply #417 on: Friday, May 7, 2021, 06:55:56 »

Wherever the money is coming from at least they are doing a proper renovation of the pitch and sorting out the drainage issues.

https://twitter.com/ecosolturfcare/status/1390287193596473345?s=21

that bloody lee power has even stripped us of the county ground turf. power out
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« Reply #418 on: Friday, May 7, 2021, 07:15:44 »

that bloody lee power has even stripped us of the county ground turf. power out

Good one, excellent to start the day.
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Power to people

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« Reply #419 on: Friday, May 7, 2021, 15:22:27 »

Assuming next weeks court case is to decide the ownership issue, lets hope this has given Clem enough time to analyse the accounts and come up with a suitable offer, this hasn't given him long though, under 2 weeks, although I believe he told the court he believed he would only need about a week.

Lets hope there isn't one last card for Power to play.
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