The Club Charged By The FA

[pauld]

Well, it’s obvioùs why this season went to shit. Standing turned off the money tap - understandably - and Power either doesn’t have any (doubtful) or knew this was the end game and refused to finance anywhere near a competitive squad.

TBF I suspect the global pandemic may have played a part as well

[Flashheart]

https://www.swindonadvertiser.co.uk/news/19244300.swindon-town-ownership-wrangle-back-high-court/

This caught my eye:

Judge Thompsell, the deputy High Court judge hearing the case on Monday, likened the situation to a car speeding headlong towards a wall with Mr Morfuni and Mr Standing trying to pull the steering wheel one way and Mr Power attempting to turn the car the other way.

He he told lawyers Hannah Thornley, for Mr Power, and Colin West QC, for Mr Standing and Axis, in his order: “Unless one of them lets go or is made by the court to let go the car will hit the wall.”

[Batch]

the trust bods in the SC Facebook chat interpreted that as play nicely and come to an agreement, or I will do it

They were very confident a sale to either axis or able will be made. well it has to doesn't it.

what I don't understand is how Axis can win this.

And a bunch of unknown property developers in Able does not cool me with confidence.

Also nervous whether Clem has the ongoing clout to keep us going. But I've not looked into properly tbh

[Costanza]

The judge really forced that car hitting a brick wall analogy throughout.

I should get him on the pod.

[pauld]

The judge really forced that car hitting a brick wall analogy throughout.

I should get him on the pod.

That's a bit harsh.

[The Grim Reaper]

Also nervous whether Clem has the ongoing clout to keep us going. But I've not looked into properly tbh

My understanding is that Clem has a wealthy backer.

[JBZ]

As observed previously, this seems a bit opaque.  Who is this backer? What is known about them?

[Panda Paws]

The operating costs for the next 3 to 4 months look odd - how will we need to spend over half our normal annual costs in that time period given 90% of the admin staff are still being picked up by the Govt.?

On the sale itself, it doesn't take a rocket scientist to know that Power likes a 1 quid deal because it likely means something favourable to him on paying the debts back (i.e him).  Standing's claim of ownership or debt will be interesting here - if he part owns the business, that stumps Power.  If it's just a debt, then it will boil down to whether he paid Power or the club.

I think the liability might include ST refunds. Only explanation I could think of to go from £300k a month  to £2.8m in June.

[RobertT]

As observed previously, this seems a bit opaque.  Who is this backer? What is known about them?

The HQ of Axis Plumbing has always worried me - I know you shouldn't judge a book by it's cover, but it doesn't exactly create an image of wealth.

5 Nelson Ave, Padstow NSW 2211, Australia

The public comments have been broadly positive from others who have met him, but outside some vague promises that most new owners trot out, I've seen little that outlines any real business plan or what real reasoning sits behind the desire to be involved.  I know there is no need for any new owner to provide that either, just would be nice if being asked to support a bid.  There is nothing of substance to support other than not being Power.

Able we know even less about.

[Flashheart]

5 Nelson Ave, Padstow NSW 2211, Australia

[Legends-Lounge]

Bit like a Scooby Doo episode isn’t it.

Some thoughts I’ve pondered after reading the Adver and Trust communiques. In no particular order, I am also sure others will have thoughts and questions that maybe others could help answer or offer a contrary opinion on without sarcasm or any form of nastiness.

If the Judge is seasoned in these business disputes you’d like to think he has the measure of what Power is trying to do and why. I’m assuming the Standing/Clem lawyer has a full brief of everything that has been going on some of which is not public knowledge (and the judge has read it all) and thus forms my hope that the judge knows what’s what.

The Standing/Clem lawyer is a QC where as Powers lawyer was described as just that a lawyer. Does that have a significance over expertise and experience?

Power to me is rather too keen to flog the carcass to these Sherman Tanks, does make you wonder why, particularly if as Clem has publicly stated his January/February offer to buy the club was better than the Able deal. How would Clem know if his deal was better?

I still think that the Able deal has or would have something to do with the Highworth site. Equally, selling to Able even without the Highworth site would enable Power to bury the skeletons but what would they get out of owning a club with no assets and no guarantee of getting an agreed sale of SN1

I did read recently that Standing had resigned as a director of a sports associated company and now he has it would seem ‘teamed’ up with Clem to fight Power in the courts as a partnership.

[Simon Pieman]

Check out number 4 next door to Axis HQ, they're not fond of Super Sam

[RedRag]

The Court is faced with determi g the ownership of the club/holding companies as between Power and Standing.

It is not scheduled to determine ownership until next summer.

The Court has zero involvement in choosing between Abel and Axis as buyers.  It has meanwhile however prevented the registered owner, LP, from exercising powers of sole ownership.  Firstly of sale and secondly of placing STFC into administration.

It appears to have required LP to co-operate with Axis in allowing it to carry out due diligence.

The true owner(s) can sell to whoever they choose.

We have seen how LP appears to have bought the debenture from Black.  It now remains for LP to "buy out"  Standing and privately "settle out of court" that LP is the sole owner.

LP is then free to sell to Abel. Standing receives his return.  The EFL charges get lost in the mists and without the detailed evidence that could have come out in a Court hearing.

Unless Standing really, really hates LP or Clem can sweeten Standing sufficiently to have Standing stymie a Standing/LP/Abel deal, then that is what I guess will happen next.

[donkey]

Eh? I can remember Macari 1986, Di Canio 2012, Wellens 2020. Who am I missing?

Sorry, my mistake.

[chalkies shorts]

So, to sum up, in future we will be owned by:
a) Lee power, a well established cunt
b) able, American property developers with no links to  stfc but who power wants to sell to. So is this where agombar, Curran, or another cunt comes in as able's UK representative.
c) Michael standing, a scummer who is an agent. It is against football league rules for an agent to have a stake in the club. To get around this he's given power money on a verbal basis. So knew he was breaking rules and is a fucking idiot lending to a soiv.
d) axis and Clem who's done a reasonably effective charm offensive but has no connections to stfc but we're the only club for him
e) knight in shining armour, stfc through and through
f) various other cunts.
What could go wrong.