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Author Topic: Lee Power  (Read 526122 times)
Bob's Orange
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« Reply #840 on: Friday, June 4, 2021, 08:14:45 »

I was just going to post that Waterford announced Lee Power has sold the club.

An interesting turn of events.

 Roll Eyes Hmmm

As LL posted, its like an extended episode of Scooby Doo!
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« Reply #841 on: Friday, June 4, 2021, 08:20:11 »

Saving his money for us
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Batch
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« Reply #842 on: Friday, June 4, 2021, 08:20:13 »

using it to "fund" our misery?
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Frigby Daser

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« Reply #843 on: Friday, June 4, 2021, 08:26:31 »

How long until the buyer is named as Able....
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Nomoreheroes
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« Reply #844 on: Friday, June 4, 2021, 08:26:43 »

Who has he sold Waterford to?

Is it a consortium that he is part of? Is it Able?
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Flashheart

« Reply #845 on: Friday, June 4, 2021, 08:30:05 »

For those too lazy to click on a link:

Quote
I am confirming that Waterford FC have sold 100% of its shares to R & S Holding Ltd who are a UK-based company headed up by Richard Forrest. Earlier in the year, Richard purchased 33% of the football club and the remaining shareholding was agreed over the weekend.

I would like to thank all the staff, supporters, and businesses of Waterford that have supported me and the football club throughout my time.

I would also like to think that I have left the club in a much better place than when I purchased it in 2016 when we were in the first division, attracting crowds of 200 and close to going out of business. After a lot of hard work and substantial investment, we managed to get the team back to the Premier League and also qualify for Europe, only for that to be taken away from us.

Ever since that decision was made by UEFA it has left a bitter taste in my mouth and it was difficult for things to stay the same. However, yet again last year it came down to the final game where a victory would have seen us back in Europe but it was not meant to be.

I have managed to steer the club through COVID and cover the substantial losses that came with that and felt that now is the right time for me to move over and let someone else take the club forward.

Me and my family will always continue to support and help the club in any way we can.

Once a Blue always a Blue

Lee Power
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horlock07

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« Reply #846 on: Friday, June 4, 2021, 08:36:08 »

For those too lazy to click on a link:


From an admittedly cursory look, Companies House have no record of that company!
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Peter Venkman
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« Reply #847 on: Friday, June 4, 2021, 08:38:40 »

So Lee Power says he loves Waterford FC and still sells them, he has never even remotely suggested he loves Swindon Town FC and still owns them. I am guessing he can't make money out of Waterford like he can Swindon.

I wonder where this leaves Seamus Brady now?

From an admittedly cursory look, Companies House have no record of that company!
I imagine its 1 shareholder.....Mr Lee Power, makes great financial sense to sell a club with debts back to yourself, oh wait a minute I have heard this sort of thing somewhere else....
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Bob's Orange
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« Reply #848 on: Friday, June 4, 2021, 08:39:50 »

From an admittedly cursory look, Companies House have no record of that company!

You are right. There was a company of that name dissolved in 2019 however.
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Nomoreheroes
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« Reply #849 on: Friday, June 4, 2021, 08:40:47 »

Dude! I'm not lazy. I just didn't see the link at the bottom of the Tweet! I assumed that the minimal wording of the Tweet itself was all that there was.

But, thank you.
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« Reply #850 on: Friday, June 4, 2021, 08:41:04 »

How much do we reckon some team in Ireland is valued at
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horlock07

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« Reply #851 on: Friday, June 4, 2021, 08:42:27 »

So Lee Power says he loves Waterford FC and still sells them, he has never even remotely suggested he loves Swindon Town FC and still owns them. I am guessing he can't make money out of Waterford like he can Swindon.

I wonder where this leaves Seamus Brady now?

Alternatively he hasn't tied himself in the knots he has at Swindon at Waterford and thus its a much easier asset to liquidate....
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NotHarryAgombar

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« Reply #852 on: Friday, June 4, 2021, 08:43:00 »

The only possible ways to make any money from Waterford are
1. qualify for the Europa League or Champions League qualifying rounds - they did a couple of years ago but were disqualified for off field issues if I remember accurately
2. Profits on player sales -less likely

My initial thought was Able - not named in the statement of course.
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« Reply #853 on: Friday, June 4, 2021, 08:44:45 »

I went to school with a Richard Forrest  Smiley
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horlock07

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« Reply #854 on: Friday, June 4, 2021, 08:45:40 »

You are right. There was a company of that name dissolved in 2019 however.

There are actually 4 companies of that name, albeit 3 have been dissolved, none of which have any directors matching the name given in the press release!
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