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Author Topic: The "it could actually be worse" thread ....  (Read 444482 times)
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« Reply #915 on: Saturday, September 21, 2019, 05:59:25 »

https://www.swindonadvertiser.co.uk/news/17917935.us-firm-makes-7m-bid-buy-swindon-town-club-denies-knowledge/?fbclid=IwAR3knpImJ3dPOeFDojY-l56mMZruSQRFW5Hy6CEbCmgakjJmKtFgB0LncaE
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Leggett
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« Reply #916 on: Saturday, September 21, 2019, 06:21:42 »

The parent company appears to have been set up in February, with a residential address as their HQ, and just the one person filling the board positions. I'm sure it's fiiiiiiiiiiiiiine
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Peter Venkman
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« Reply #917 on: Saturday, September 21, 2019, 09:36:09 »

The takeover of my local side Yeovil Town was finally completed yesterday!

I was speaking to Lawson D'Ath at an event in Yeovil I was attending yesterday too, he speaks highly of Wellens and says there was never an offer of a contract at Swindon despite what some people on here have said.

Jed Mc expected to have a finger in the Yeovil pie according to the YT Facebook group.
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« Reply #918 on: Thursday, September 26, 2019, 09:57:59 »

Yeovil finally taken over by Jeds mates. Already taking out loans secured on the ground according to some football finance bloke on twitter
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Peter Venkman
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« Reply #919 on: Thursday, September 26, 2019, 10:00:38 »

Yeah as my post above says it went through on Friday, already treading a dangerous path, Jed is still alleged to be hanging around waiting to jump on board.

Also there are charges against the club from the a company called MSP Capital concerning ground ownership too, which is said to be about loaning money against the ground.

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The entry against Yeovil Town Holdings is a loan, secured against the land assets for Huish Park. The implication is that MSP Capital have leant money to the new Owners. Given the date of the transaction is also the date of the takeover, then yes it does look like money has been borrowed to secure the takeover.

It all sounds a bit dodgy already.

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Yeovil Town's new co-owner Scott Priestnall has confirmed that he will be taking over the position of Chairman of the club from John Fry, with immediate effect. With Fry and outgoing owner Norman Hayward having stepped down both in terms of their ownership of the club and their Director positions, the club is now fronted by Priestnall along with Errol Pope who has so far kept a low profile.

Priestnall attended a press conference today as his first formal introduction to the local media, with both the original Yeovil Town company (Yeovil Football and Athletic Club Limited) and parent company Yeovil Town Holdings Limited now having a two man Board of Priestnall and Pope. He said that it was a position he hadn't been contemplating during the early part of his negotiations with the outgoing owners, but became something that he wanted to take on during the last few weeks:

"I am going to be Club Chairman - yes. I actually want to be. It's a position that I've kind of changed my mind on since I started. When I first started out I didn't think about being Chairman. I was actually looking at potential people to do it, both inside and outside the club. As I've got more involved with the club, if the completion had been maybe six or seven weeks ago, maybe I wouldn't have done. I think I've got the bug now, I'm hoping to earn my stripes as a Glover and I've really got excited about games. It's kind of got me interested in football again, to be honest with you. It was a really easy decision over the last couple of weeks to become Chairman. Hopefully I'll do right by the fans."

Priestnall also clarified one false assumption that has tended to be the case throughout the majority of the last three months since the pair were announced as the prospective bidders for the club. With Pope being labelled as the 'money man' when they were part of a consortium that was in discussions to take over Worcester Warriors rugby club in 2018, it had been largely assumed that Pope would have the lion's share of the Ownership of Yeovil Town. However, Priestnall explained that he would be the majority shareholder in this relationship, but admitted he didn't know the exact mathematical split between them at this stage:

"I'm not sure I know exactly, at the moment, but I'm the majority shareholder of that arrangement. I was just on a call earlier to find out what that exact percentage is, but I've certainly got control. We're in the very early days. The old Board have now resigned - each member. If I'm totally honest with you, since Friday I haven't had any conversations with regard to Board members at all. But I do want to and that's something I will work on once we get through this initial period of getting things right within the club first. Once that's done, I'll start to focus more on the Board."

Companies House information today has confirmed the above, with Alan Chamberlain and David Lee the last of the two remaining Directors formally stepping down from their position as Directors of the core Yeovil Town company. Priestnall and Pope remain as the only two Directors on both companies for the time being.
« Last Edit: Thursday, September 26, 2019, 10:06:46 by Peter Venkman » Logged

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« Reply #920 on: Thursday, September 26, 2019, 10:15:44 »

See its 'D' day for Bury's appeal today, news seems to suggest they are not getting much sympathy from the other clubs.
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« Reply #921 on: Thursday, September 26, 2019, 10:35:49 »


Jed Mc expected to have a finger in the Yeovil pie according to the YT Facebook group.
One of many places you wouldn't want Jed's finger
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Peter Venkman
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« Reply #922 on: Thursday, September 26, 2019, 10:37:04 »

One of many places you wouldn't want Jed's finger
I wouldn't want Jeds finger anywhere near anything thank you Smiley
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« Reply #923 on: Thursday, September 26, 2019, 15:02:51 »

See its 'D' day for Bury's appeal today, news seems to suggest they are not getting much sympathy from the other clubs.

So no reprieve for Bury.
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« Reply #924 on: Thursday, September 26, 2019, 15:06:05 »

Sad, but the correct decision.

But we are closer to safety now Smiley
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« Reply #925 on: Thursday, September 26, 2019, 15:57:22 »

Sad, but the correct decision.

But we are closer to safety now Smiley

I think it's the right call and fully appreciate that Swindon may one day be in this situation.

The governance of the game needs a significant review but letting them back in 2020-21 would almost certainly result in this becoming a potential common practice.

"We can't afford this season, fuck it. Let's take a year out, raise funds and come back stronger."

Bury's demise is no shock. I just hope that if Swindon were in a situation that they were winning on the pitch but had a Dale like owner (and Power isn't that) then I'd be fighting the good fight (like many Blackpool fans were forced to do).
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« Reply #926 on: Thursday, September 26, 2019, 18:11:01 »

We didn't get a lot of sympathy from other clubs in 1990 after our Football League demotion. It all got lost in the excitement of the World Cup that summer and barely a passing comment from the TV coverage.

Tranmere held it against us for years because they got promoted to Div 2 before we appealed to the FA and were relegated only one division.

Our friends in Brizzle like to still through the 'Swindle' tag at us.


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The Artist Formerly Known as Audrey

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« Reply #927 on: Thursday, September 26, 2019, 18:24:19 »

And that’s rich coming from the 82ers
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Costanza

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« Reply #928 on: Thursday, September 26, 2019, 18:35:41 »

'Swindle' is still very common here in Bristol.

Funnily enough just this week someone sent me an IM at work and referred to Town as 'Swindle'. I asked him if he knew why Town were known as 'Swindle'... He did not know.
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Flashheart

« Reply #929 on: Thursday, September 26, 2019, 18:41:33 »

What with all the Bury shennanigans, only one team will get relegated from L2 this season.

Gives us a chance at least.
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