Ƭ̵̬̊: The Artist Formerly Known as CWIG
TOLD YOU SO
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« Reply #7725 on: Tuesday, November 7, 2023, 15:09:49 » |
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Some positives in that statement.
However, why did it take this weekend's bullshit for them to tell us they haven't yet seen the books? They need to keep the pressure on with regular updates and not just wait until the next supporter meltdown/Clem own goal.
They did say things are going on in the background.....but you're right they need to be clear with us what is happening as well. Telling us they've not seen the books will inevitably cause supporter unrest, but that is on Clem and not them. Patience is very much running out. Good to hear they have someone more than qualified to look over things. |
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Audrey
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?Absolute Calamity!?
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« Reply #7726 on: Tuesday, November 7, 2023, 15:13:31 » |
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It’s easy enough to read between the lines, though.
No books for the Trust to look at - something they don’t want them to see
No clarity on the shares being bought back - they haven’t
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Ƭ̵̬̊: The Artist Formerly Known as CWIG
TOLD YOU SO
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« Reply #7727 on: Tuesday, November 7, 2023, 15:22:09 » |
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It’s easy enough to read between the lines, though.
No books for the Trust to look at - something they don’t want them to see
No clarity on the shares being bought back - they haven’t
Yeah, pretty obviously this. Promising it just to get the trust off his back and then renegging/ghosting is just Clem getting more rope to hang himself at this point. |
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Jimmy Quinn
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The future is orange
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« Reply #7728 on: Tuesday, November 7, 2023, 15:31:27 » |
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I wonder who the interested parties are🤔
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Ƭ̵̬̊: The Artist Formerly Known as CWIG
TOLD YOU SO
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« Reply #7729 on: Tuesday, November 7, 2023, 15:41:31 » |
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I wonder who the interested parties are🤔
Hope: Taylor Swift Expectation: Power and Currans horseracing mates. |
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Peter Venkman
Past glories motivate us when times are bleak.
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Perfection is not attainable
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« Reply #7730 on: Tuesday, November 7, 2023, 15:43:06 » |
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I wonder who the interested parties are🤔
Consortium of ABLE, Power, Curran and McRoaaaary. |
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From the station at Colchester
To the cells of Warrington
From the services at Leicester
To the slums of Northampton
We travel over England
And one day Europe too
Cos we all follow the Swindon
We're the famous Town End crew.
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Mooneyraker
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« Reply #7731 on: Tuesday, November 7, 2023, 15:43:43 » |
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Here is a layperson's question:
If you are entering into a JV like the the one that the Trust have with the Club, where the money has been gifted by the Eady Trust, could there not have been a mechanism whereby each side is mandated to share their full accounts with each other annually and if they don't the property reverts to the Eady Trust? Or something like that.
As I say, I have zero, literally zero, understanding of this world but I'm curious what safety mechanisms were put in place to prevent a wrong 'un from essentially profiting from 50% of Nigel Eady's bequest.
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Ƭ̵̬̊: The Artist Formerly Known as CWIG
TOLD YOU SO
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« Reply #7732 on: Tuesday, November 7, 2023, 15:47:35 » |
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Yeah its shouda woulda coulda at this point, but the trust should have had a look at the books before the JV.
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Jimmy Quinn
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The future is orange
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« Reply #7733 on: Tuesday, November 7, 2023, 15:48:50 » |
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Consortium of ABLE, Power, Curran and McRoaaaary.
Yeah it’s called we’re on the road to nowhere! |
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RobertT
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« Reply #7734 on: Tuesday, November 7, 2023, 15:50:54 » |
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Here is a layperson's question:
If you are entering into a JV like the the one that the Trust have with the Club, where the money has been gifted by the Eady Trust, could there not have been a mechanism whereby each side is mandated to share their full accounts with each other annually and if they don't the property reverts to the Eady Trust? Or something like that.
As I say, I have zero, literally zero, understanding of this world but I'm curious what safety mechanisms were put in place to prevent a wrong 'un from essentially profiting from 50% of Nigel Eady's bequest.
Legally, I think the club has to run any change of ownership by the JV, but I doubt they can prevent it. Outside of that: https://www.swindontownfc.co.uk/siteassets/202122/2021-22-general-content/memorandum-of-understanding---truststfc-and-stfc---final.docx.pdf |
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Ƭ̵̬̊: The Artist Formerly Known as CWIG
TOLD YOU SO
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« Reply #7735 on: Tuesday, November 7, 2023, 15:51:58 » |
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Is that full ownership or even the 20% they didn't bother telling anyone about? |
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RobertT
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« Reply #7736 on: Tuesday, November 7, 2023, 15:52:52 » |
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Is that full ownership or even the 20% they didn't bother telling anyone about?
Clearly the club saw the "non binding" bit and ran with it. |
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Mooneyraker
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« Reply #7737 on: Tuesday, November 7, 2023, 15:53:41 » |
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Yeah, I think we can all agree that the Memorandum of Understanding is about as much use as the Treaty of Versailles at this point. I guess I was wondering more could the Eady Trust/Trust STFC have put any mechanisms in place whereby the club's 50% of the stadium is forfeited under certain conditions eg. failure to share full accounts, unauthorised change in ownership (!) etc. |
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Audrey
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?Absolute Calamity!?
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« Reply #7738 on: Tuesday, November 7, 2023, 15:57:22 » |
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I thought the CG reverted to SBC if ground improvements didn’t commence during a set time period. May be 18 months, but I could have made that up.
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Ƭ̵̬̊: The Artist Formerly Known as CWIG
TOLD YOU SO
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« Reply #7739 on: Tuesday, November 7, 2023, 16:00:39 » |
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Not revert, they have the option to buy it back. Which lets be honest they probably won't.
Could it be an option to campaign to the council to force the buy back on the clubs half on behalf of the Trust?
Would require a hell of a lot more funding though, but if that money goes back to the Eady Trust? Hoping they have put certain provisions in place there.
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