New beginnings - 25% Truth, 80% Bollocks

[Mooneyraker]

Well you say that. I couldn’t blame him if he was. This thread of conversation has been the hot topic the last two days in LL Towers. To my mind Clem bought the club because the articles of association and memorandum meant that General Spiv Pee Lower had to offer the sinking ship to other shareholders AKA Clem (being the only one), after a long hard fought court battle to get his 10-15% share holding upheld. Upon realising his £1.15m was going down the pan he had no option but to buy the club from Pee Lower or see it end up in the hands of Pee Lowers mates (Able) via the back door.

That’s where the fairy tail ends. Once digger realised how much debt there was visible and then more invisible came out it was too late to just kiss goodbye to his initial investment. He was now the sole owner of a club with a debt mountain that Chris Bonnington might have thought twice about climbing.

As things have turned out there was a shining silver knight on a white steed in the form of Nigel Eady. Still a lot of work to do but that is over the line now and with Diggers back ground in ‘construction’ there be a profit to be had. The problem you see is this profit is in the form of a huge fuck off treasure chest. To get to this Valhalla think Pirates of the Caribbean meets Indian Jones. Just a few obstacles to overcome. First one keeping the club going and ‘viable’ until he can get his hands on the Ark or the Treasure Chest AKA a new stadium.

Snakes and ladders meets monopoly.

With Michael Standing playing the role of Pop up Pirate

[tans]

My theory is the ownership are just putting the bare minimum in to keep the club ticking over, no firther investment and then sell the club.

Probably want a fucking stupid asking price mind

[Dr Pierre Chang]

My theory is the ownership are just putting the bare minimum in to keep the club ticking over, no firther investment and then sell the club.

Probably want a fucking stupid asking price mind

My concern is he is doing exactly that but with no intention of selling. Just keeping us plodding along until he can do something with the CG re-development. In which case unless Flynn or another manager can work minor miracles, we aren’t going to be getting out of L2 anytime soon!

[Legends-Lounge]

My concern is he is doing exactly that but with no intention of selling. Just keeping us plodding along until he can do something with the CG re-development. In which case unless Flynn or another manager can work minor miracles, we aren’t going to be getting out of L2 anytime soon!

Of course not. That takes money. And based on our budget so far at least an additional 33%

[theakston2k]

My concern is he is doing exactly that but with no intention of selling. Just keeping us plodding along until he can do something with the CG re-development. In which case unless Flynn or another manager can work minor miracles, we aren’t going to be getting out of L2 anytime soon!

Probably trying to get do the bare minimum in the hope he can get some planning permissions in place that justify a decent price tag. I don’t think he gives 2 shits about us on the pitch and wouldn’t really be fussed if we fell out the league. 

One nagging concern I have is whether some of the hangers on would allow a sale in case any dodgy stuff came out into the open afterwards or whether the club is a necessary conduit for their other activities like Karachi etc:

[Mooneyraker]

Probably trying to get do the bare minimum in the hope he can get some planning permissions in place that justify a decent price tag. I don’t think he gives 2 shits about us on the pitch and wouldn’t really be fussed if we fell out the league. 

One nagging concern I have is whether some of the hangers on would allow a sale in case any dodgy stuff came out into the open afterwards or whether the club is a necessary conduit for their other activities like Karachi etc:

That’s it. I don’t see how Standing gets his pound of flesh if Clem sells up.

[Legends-Lounge]

Top five attendances in L2 to date.

1) Bradford 17,922
2) Notts C. 11,781
3) Wrexham 10,114
4) Swindon 8,978
5) Stockport C. 8,954
7) Mansfield  7,544

Corresponding league position

1) Stockport
2) Notts C.
3) Wrexham
4) Mansfield
5) Crew A.
9) Swindon
16) Bradford

Yes I know I have added a few additional lines over the ‘five’ but that is to add a bit more context. Bradford skew this but as they charge two Bob and a lollipop for their season tickets their income comes back to nearer everyone else’s I suspect?

So about this competitive budget…

[The Grim Reaper]

Personally I’m still not convinced that we are being told the truth and that Clem is the true owner. Maybe he is maybe he isn’t but something niggles at me he might just be the frontman, the face if you like. He was everywhere when first took over, now nowhere to be seen. Claimed at the beginning to be able to better Ables £7m bid but didn’t have the money to pay off the £2m debenture when required? Still think a lot rests on the Power/Standing court case. Can understand why nobody seems willing to plough funds in for players in case they don’t get a return. Maybe Clem is just skint but the more I think about things and anything to do with our club it just seems to be murkier the deeper you go. People forget Clem was part of the Power regime. And why did Rob Angus really resign? Family reasons is a simple but vague answer. I might be in the minority but I feel there is worse to come yet. Just wish we could have new owners that have absolutely no ties or history with Power/Clem/Standing etc, fed up with shady owners running our wonderful club.

[Legends-Lounge]

Do we know when the court case/s are due to be heard? I’m sure something has been posted but I may be imagining it? If there are scheduled dates could that then give us a better understanding of where we may be going on the pitch?

[The Grim Reaper]

Can’t remember the date as such but I know the court case is over the ownership dispute. Something like Clem at the time owned 15% and Power 85% but Standing claims to own 50% of Powers share? What if Standing wins the case? Does that mean the transfer of ownership from Power to Clem could be itself in dispute?

[STFC_Manc]

Can’t remember the date as such but I know the court case is over the ownership dispute. Something like Clem at the time owned 15% and Power 85% but Standing claims to own 50% of Powers share? What if Standing wins the case? Does that mean the transfer of ownership from Power to Clem could be itself in dispute?

I wouldn't have thought so but Standing will be looking for compensation?

[Audrey]

Can’t remember the date as such but I know the court case is over the ownership dispute. Something like Clem at the time owned 15% and Power 85% but Standing claims to own 50% of Powers share? What if Standing wins the case? Does that mean the transfer of ownership from Power to Clem could be itself in dispute?

I’m not sure what the best outcome is for the club - if, indeed, there is one.

If Standing proves he did own 50% of Power’s 85% I suppose that puts the club in breach of the FA rules on illegal funding.

[Batch]

Can’t remember the date as such but I know the court case is over the ownership dispute. Something like Clem at the time owned 15% and Power 85% but Standing claims to own 50% of Powers share? What if Standing wins the case? Does that mean the transfer of ownership from Power to Clem could be itself in dispute?

I don't think so either. I think it was cleared (with standing)  before clem took over.

My CT head still thinks standing will become involved with STFC in this scenario. Though Clem says not. But we'll see.

Auds point about ownership rules is an interesting one. Another reason to be in league 1 when charges hit, we'd have a safety net. Speaking from a position of extreme ignorance mind (what's new). I have no idea what punishments are on the table

[Audrey]

Reinstatement of Sheridactyl would be the ultimate punishment.

Did the club profit from the funding to the detriment of other clubs?


Of course, the legal outcome of the case makes it easy for the FA to find the club guilty without the need for an inquiry or any further proof.

[Legends-Lounge]

I don't think so either. I think it was cleared (with standing)  before clem took over.

My CT head still thinks standing will become involved with STFC in this scenario. Though Clem says not. But we'll see.

Auds point about ownership rules is an interesting one. Another reason to be in league 1 when charges hit, we'd have a safety net. Speaking from a position of extreme ignorance mind (what's new). I have no idea what punishments are on the table

I seem to think that Clem stated that if Standing was declared to be the owner of 50% of Powers 85% that he (Clem) would or had the means to pay Standing the estimated money for sole ownership of the club, FA, ELF punishment not withstanding. Also that any punishment of the club would be financial and that again money had been set aside for that eventuality. Happy for someone to correct me if I’m wrong.