New beginnings - 25% Truth, 80% Bollocks

[Jimmy Quinn]

Under Black/Arbib when we were losing about £250k a year but they were funding it.

Until they didn't.

The good times lasted 4/5 years before selling
I can't remember the following statement below

Who is Andrew Black? Swindon owner Black was co-founder of betting exchange Betfair. He was part of a consortium, led by ex-chairman Andrew Fitton, which took over Swindon in 2008. Although rarely seen at the County Ground, his investment has put Town in the top 30 richest football clubs in England.

[Mooneyraker]

There was a draft plan within the April AB notes.

https://www.swindontownfc.co.uk/siteassets/2022-23/documents/advisory-board-april-2023.pdf

Well remembered. Thanks for posting.

[Mooneyraker]

The Adver are finally digging into things...

https://www.swindonadvertiser.co.uk/news/23765875.swindon-town-owners-liquidated-company-owed-850k-judgements/

"Swindon Town owner's liquidated company owed £850k after judgements"

[tans]

https://www.swindonadvertiser.co.uk/news/23765875.swindon-town-owners-liquidated-company-owed-850k-judgements/?ref=rss&utm_source=dlvr.it&utm_medium=twitter

[Nemo]

Fuck me, journalism from the Adver!

[Audrey]

Very Power-esque business morals. Liquidate and bollocks to those owed money. Very common practice but it stinks.

The construction industry is on a marked downturn at the moment which obviously has a knock on effect with businesses like Axis.

[Quagmire]

It’s another lie to add to an ever growing list.

[tans]

It’s another lie to add to an ever growing list.

Aye

[Mooneyraker]

There is now a steady drumbeat of information leaking out on this regime.

I am extremely concerned for the medium/long term future of the club under these charlatans, as I have been since day one.

When things go south, which they will, the damage that the Trust have done to the club and themselves will become clear, as there will be no credible, impartial body left for the supporters to coalesce behind. We are in real trouble here.

[Hyabb17]

My, my, my…..it’s all unraveling now! In with another dodgy one. If this was power the meltdown would be off the scale!

[JoeMezz]

Can someone explain in layman's terms? They liquidated so they don't pay the money that they owe?

Whilst this is bad, is it not illegal? And are people kicking off because it differs from the club statement?

[Costanza]

There isn't much meat to the bone within that article but, I believe, it conflicts with a Rob Angus statement from the other week.

Regardless of what you think about this, Rob Angus has been stitched up several times recently due to lack of clarity from the owner.

Openness and transparency, innit.

[Nemo]

Can someone explain in layman's terms? They liquidated so they don't pay the money that they owe?

Whilst this is bad, is it not illegal? And are people kicking off because it differs from the club statement?

Broadly, yes to all the above.

If this was power the meltdown would be off the scale!

See this is a refrain I don't really agree with - yes, you're absolutely right in the dying days of Power post-Sheridan. But there was a long period of Power's ownership before that where there was fairly minimal pushback from fans and fans groups against him - even going back to Morshead getting banned from the CG. Unsurprisingly, that lined up with us being quite good on the pitch!

A lot of people - myself included - operated on the principle that he was better than Jed and there was no other show in town. I suspect similarly a lot of folk now think that Clem is better than Power and there's no real alternative. It's not an optimistic position to be in, but I can't imagine there are lots of Ryan Reynolds/Rob McIlhennys lying around waiting to buy us.

Clem is clearly being less than honest with us - and I agree that this is damaging the Trust - but he's also not actively malicious towards the fans in the way Power was. As in many cases, the cover up seems to be worse than the crime. That doesn't mean questions shouldn't be asked though!

[Bogus Dave]

Axis liquidated comes to light
Rob Angus statement says ‘this is a usual business practise for a dormant company, don’t worry’
Joint vice chair of the trust tweets ‘hopefully this settles fans nerves’
C. A month passes, in which some more ownership shenanigans come to light
Adver article states that the companies a) weren’t dormant b) were wound up to avoid £800k of debts (which I’d argue isn’t normal business behaviour) and c) Clem wasn’t a director at time of liquidation

Aside from the further lying from above and questions about the trusts impartiality, I think this is further proof that clems pockets are running dry. I’d also be nervous of the wronged parties aim to ‘explore all options to recover its debts’ - only a matter of time before they come sniffing round STFC. And they may well legally not be entitled to claim from the club, but it would surely come with a costly legal bill to get to that conclusion

[Hyabb17]

Broadly, yes to all the above.

See this is a refrain I don't really agree with - yes, you're absolutely right in the dying days of Power post-Sheridan. But there was a long period of Power's ownership before that where there was fairly minimal pushback from fans and fans groups against him - even going back to Morshead getting banned from the CG. Unsurprisingly, that lined up with us being quite good on the pitch!

A lot of people - myself included - operated on the principle that he was better than Jed and there was no other show in town. I suspect similarly a lot of folk now think that Clem is better than Power and there's no real alternative. It's not an optimistic position to be in, but I can't imagine there are lots of Ryan Reynolds/Rob McIlhennys lying around waiting to buy us.

Clem is clearly being less than honest with us - and I agree that this is damaging the Trust - but he's also not actively malicious towards the fans in the way Power was. As in many cases, the cover up seems to be worse than the crime. That doesn't mean questions shouldn't be asked though!

I understand all of the above & I know it divides opinion saying what I have however I do believe that. Clem has to a point done similar to power…liquidated companies to avoid debt, lent money of people to invest/run a football club.

My main issue is the lies & my favourite phrase “open & transparent”. This is just another kick in the teeth for me. The trust need to take their head out of the sand & look after the clubs interests!

It’s also no coincidence that all of the above has come to light when Clem owns 50% of the ground which was given to him through the Eady trust.