| Swans Trust Emergency Meeting Thurs 16:58 - Apr 13 with 42634 views | Lord_Bony |
You are no doubt aware that a consortium of US investors, led by Jason Levien and Steve Kaplan, is interested in acquiring shares in Swansea City football club. There is more information on this in a couple of articles on our website - click to read.
The articles outline the current position as we see it, and there is, of course interest in this ongoing situation across the whole 'Jackarmy' family. We are particularly grateful for your support as a full member of the Supporters Trust and have arranged, at very short notice, a meeting at the Liberty Stadium tomorrow evening (Thursday 14 April) at 7.30. It is difficult to say at this stage if there will be any additional information available at that meeting but we felt it would be an opportunity for members of the Trust Board to bring you up to speed and address any points/questions you may have.
The short notice and location of the meeting will, we appreciate, mean it will be difficult for many of you to attend and we will aim to ensure that you are kept up to date with developments both through the Trust's website and these emails.
Thanks for your support.
The Swans Trust team |  |
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| Swans Trust Emergency Meeting Thurs on 23:53 - Apr 14 with 1942 views | Swanseajill |
| Swans Trust Emergency Meeting Thurs on 23:29 - Apr 14 by londonlisa2001 |
Nah. The money and the players' wages and the sponsorship and the international deals and the shirts and the stadium naming rights - these are all things that can be earned and paid for and bought and sold.
The heart of the club can never be sold.
I'm p****d off as well, and feel let down and lied to. But they can never take away that feeling that I had on Saturday when Gylfi scored. That's what makes it mine. The U.S. owners will never feel that - never. So it will never actually belong to them, however much money they pay. |
We all have to face facts Lisa, no matter how it hurts. Things are going to change, if not now maybe in six months, or next year.
The only constant is the fans, and even that fluctuates in numbers with the seasons and our state of play in the league.
We can have Our club moments like the Chelsea win, and the die hard fans will still be there to see it.
As far as JVZ, HJ and LD carrying on where they left off after a sellout, simply because of the underhand dealings, I can't see that being a possibility. |  | | |
| Swans Trust Emergency Meeting Thurs on 23:56 - Apr 14 with 1897 views | Dewi1jack |
| Swans Trust Emergency Meeting Thurs on 23:27 - Apr 14 by Watchman |
yep all true but what would he care if dragged the name of scfc in the mud and sold a few column inches |
Couldn't be any worse than the deep, investigative journalism that occurred less than an hour after the Chelsea win.
Another great day in the clubs history tarnished by some sly, sneaky b'stards in the boardroom.
The board got to Wathan and gave him the ready made articles
Maybe we can feed Tucker a load of bollox and false accusations.
Win- win situation.
The sneaky, sly b'stards get accused of everything, including the Cuban missile crisis, JFKs assassination, the steel works being sold etc and they sue that chip wrapper and bankrupt it.  |  |
| If you wake up breathing, thats a good start to your day and you'll make many thousands of people envious. |
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| Swans Trust Emergency Meeting Thurs on 23:58 - Apr 14 with 1876 views | Uxbridge |
| Swans Trust Emergency Meeting Thurs on 23:41 - Apr 14 by BLAZE |
I fear you're correct. I've spoken to a few fans who don't bother with the online community side of the club and they were totally for the investment, oblivious to the concerns raised elsewhere amongst the fan base
'We need investment to reach the next level'
'Huw Jenkins is staying on, it's orite'
'Theyre promising to expand the stadium'
Yada yada. Swallowed the media charm offensive in one bite, no questions asked. Don't think the local press have enough integrity to fairly and accurately cover the other side of the argument - too much at stake for them |
WIll be interesting to see how the press report this evening.
The anger in the room was palpable. Not seen anything like that in a long time. It shocked me and I knew most of what was going to be said! |  |
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| Swans Trust Emergency Meeting Thurs on 00:01 - Apr 15 with 1848 views | Uxbridge |
| Swans Trust Emergency Meeting Thurs on 23:53 - Apr 14 by Swanseajill |
We all have to face facts Lisa, no matter how it hurts. Things are going to change, if not now maybe in six months, or next year.
The only constant is the fans, and even that fluctuates in numbers with the seasons and our state of play in the league.
We can have Our club moments like the Chelsea win, and the die hard fans will still be there to see it.
As far as JVZ, HJ and LD carrying on where they left off after a sellout, simply because of the underhand dealings, I can't see that being a possibility. |
True. Change, of some sort, is now inevitable. What form it takes will be the interesting part. All of us need to do what we can to make sure it's in the interests of the Club and the Fans.
Long been said, but the value of the Trust is often most visible in a crisis. Make no mistakes folks, we're in the midsts of a crisis. | |
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| Swans Trust Emergency Meeting Thurs on 00:02 - Apr 15 with 1848 views | MoscowJack |
| Swans Trust Emergency Meeting Thurs on 23:58 - Apr 14 by Uxbridge |
WIll be interesting to see how the press report this evening.
The anger in the room was palpable. Not seen anything like that in a long time. It shocked me and I knew most of what was going to be said! |
Here's one article out already:
http://www.walesonline.co.uk/sport/football/football-news/swansea-city-supporter
Does it get close to capturing the mood? |  |
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| Swans Trust Emergency Meeting Thurs on 00:03 - Apr 15 with 1841 views | londonlisa2001 |
| Swans Trust Emergency Meeting Thurs on 23:53 - Apr 14 by Swanseajill |
We all have to face facts Lisa, no matter how it hurts. Things are going to change, if not now maybe in six months, or next year.
The only constant is the fans, and even that fluctuates in numbers with the seasons and our state of play in the league.
We can have Our club moments like the Chelsea win, and the die hard fans will still be there to see it.
As far as JVZ, HJ and LD carrying on where they left off after a sellout, simply because of the underhand dealings, I can't see that being a possibility. |
I don't disagree with you that it'll change.
But the bit that's most important for me won't change because I'm not prepared to let it. Same as it doesn't change for me (and I know for you as well) what division we're in or who we're playing.
As for your last point - it'll be interesting to see what the media do. I said as my first comment (or first ish anyway - can't quite recall) about this on Sunday that the main weapon the Trust have is PR. Forget the local press. It's the Nationals that may well love this as a story. I'd urge the Trust to get in touch NOW with David Conn and Henry Winter and give them the full story. | | | |
| Swans Trust Emergency Meeting Thurs on 00:09 - Apr 15 with 1801 views | Uxbridge |
Christ, what a whitewash.
So, despite the majority of the meeting discussing the fact that certain directors have gone behind the Trust's back (and potentially other shareholders) and attempted to sell the club out from under everyone's feet, Wathan's take is that the Trust concede that this deal could be appealing but our feelings were hurt.
He's a disgrace. | |
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| Swans Trust Emergency Meeting Thurs on 00:10 - Apr 15 with 1785 views | MoscowJack |
| Swans Trust Emergency Meeting Thurs on 00:03 - Apr 15 by londonlisa2001 |
I don't disagree with you that it'll change.
But the bit that's most important for me won't change because I'm not prepared to let it. Same as it doesn't change for me (and I know for you as well) what division we're in or who we're playing.
As for your last point - it'll be interesting to see what the media do. I said as my first comment (or first ish anyway - can't quite recall) about this on Sunday that the main weapon the Trust have is PR. Forget the local press. It's the Nationals that may well love this as a story. I'd urge the Trust to get in touch NOW with David Conn and Henry Winter and give them the full story. |
David Conn has spoken positively about the Swans and Trust for years, the one exception I remember was when the dividends were paid out and he had a right pop. I thought he went over the top actually, but that's not important now.
I'm sure he's keeping a watching eye on proceedings and I know he has touch with some Trust Board members in the past (and probably now too) so this could be a nice way of exposing the snakes behind this sell-out...and nationally too! | |
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| Swans Trust Emergency Meeting Thurs on 00:12 - Apr 15 with 1763 views | londonlisa2001 |
| Swans Trust Emergency Meeting Thurs on 00:09 - Apr 15 by Uxbridge |
Christ, what a whitewash.
So, despite the majority of the meeting discussing the fact that certain directors have gone behind the Trust's back (and potentially other shareholders) and attempted to sell the club out from under everyone's feet, Wathan's take is that the Trust concede that this deal could be appealing but our feelings were hurt.
He's a disgrace. |
Go to the Nationals.
They will listen - in their eyes this is a cracking story as much as anything - intrigue, betrayal, fans ownership, premier league. Handled properly this could be News At Ten stuff, seriously.
Ignore the little pissants at the Western Mail. | | | |
| Swans Trust Emergency Meeting Thurs on 00:13 - Apr 15 with 1756 views | Darran |
| Swans Trust Emergency Meeting Thurs on 00:09 - Apr 15 by Uxbridge |
Christ, what a whitewash.
So, despite the majority of the meeting discussing the fact that certain directors have gone behind the Trust's back (and potentially other shareholders) and attempted to sell the club out from under everyone's feet, Wathan's take is that the Trust concede that this deal could be appealing but our feelings were hurt.
He's a disgrace. |
He shouldn't have been allowed to be there. |  |
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| Swans Trust Emergency Meeting Thurs on 00:14 - Apr 15 with 1746 views | monmouth |
| Swans Trust Emergency Meeting Thurs on 00:09 - Apr 15 by Uxbridge |
Christ, what a whitewash.
So, despite the majority of the meeting discussing the fact that certain directors have gone behind the Trust's back (and potentially other shareholders) and attempted to sell the club out from under everyone's feet, Wathan's take is that the Trust concede that this deal could be appealing but our feelings were hurt.
He's a disgrace. |
Lisa's right - go to Conn; on the record interview with the supporter director of the model that the Government has been championing. He'll lap it up, plus maybe out or at least shame the local reporter acting as if he's on the payroll of the sellers. |  |
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| Swans Trust Emergency Meeting Thurs on 00:15 - Apr 15 with 1738 views | Uxbridge |
| Swans Trust Emergency Meeting Thurs on 00:12 - Apr 15 by londonlisa2001 |
Go to the Nationals.
They will listen - in their eyes this is a cracking story as much as anything - intrigue, betrayal, fans ownership, premier league. Handled properly this could be News At Ten stuff, seriously.
Ignore the little pissants at the Western Mail. |
Yeah. I suspect you may be right.
Compare Wathan's summary with what you'll see on Twitter. He seems like he's been nobbled. | |
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| Swans Trust Emergency Meeting Thurs on 00:15 - Apr 15 with 1736 views | londonlisa2001 |
| Swans Trust Emergency Meeting Thurs on 00:10 - Apr 15 by MoscowJack |
David Conn has spoken positively about the Swans and Trust for years, the one exception I remember was when the dividends were paid out and he had a right pop. I thought he went over the top actually, but that's not important now.
I'm sure he's keeping a watching eye on proceedings and I know he has touch with some Trust Board members in the past (and probably now too) so this could be a nice way of exposing the snakes behind this sell-out...and nationally too! |
Exactly Nick. The Nationals will seriously love this. Not for the reasons we want necessarily, but it doesn't much matter why they'll love it. | | | |
| Swans Trust Emergency Meeting Thurs on 00:15 - Apr 15 with 1729 views | Swanseajill |
| Swans Trust Emergency Meeting Thurs on 00:03 - Apr 15 by londonlisa2001 |
I don't disagree with you that it'll change.
But the bit that's most important for me won't change because I'm not prepared to let it. Same as it doesn't change for me (and I know for you as well) what division we're in or who we're playing.
As for your last point - it'll be interesting to see what the media do. I said as my first comment (or first ish anyway - can't quite recall) about this on Sunday that the main weapon the Trust have is PR. Forget the local press. It's the Nationals that may well love this as a story. I'd urge the Trust to get in touch NOW with David Conn and Henry Winter and give them the full story. |
I did see your questions and proceeded to print them out, hoping to get at least one question put forward.
My excuses sorry, was just on my way to the meeting, my laptop takes ages to load. windows ten is pants, and couldn't get them printed in time
. apologies | | | |
| Swans Trust Emergency Meeting Thurs on 00:18 - Apr 15 with 1712 views | Swanseajill |
| Swans Trust Emergency Meeting Thurs on 00:09 - Apr 15 by Uxbridge |
Christ, what a whitewash.
So, despite the majority of the meeting discussing the fact that certain directors have gone behind the Trust's back (and potentially other shareholders) and attempted to sell the club out from under everyone's feet, Wathan's take is that the Trust concede that this deal could be appealing but our feelings were hurt.
He's a disgrace. |
Fans views are not of interest Andy.
I agree a disgrace | | | |
| Swans Trust Emergency Meeting Thurs on 00:21 - Apr 15 with 1695 views | Uxbridge |
| Swans Trust Emergency Meeting Thurs on 00:18 - Apr 15 by Swanseajill |
Fans views are not of interest Andy.
I agree a disgrace |
It would seem not Lorr. Very disappointed in him. Seems he took the barracking he got from the lady at the back personally. | |
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| Swans Trust Emergency Meeting Thurs on 00:22 - Apr 15 with 1682 views | londonlisa2001 |
| Swans Trust Emergency Meeting Thurs on 00:15 - Apr 15 by Swanseajill |
I did see your questions and proceeded to print them out, hoping to get at least one question put forward.
My excuses sorry, was just on my way to the meeting, my laptop takes ages to load. windows ten is pants, and couldn't get them printed in time
. apologies |
Ha - no not at all - I wasn't expecting anyone to ask them necessarily, I was just gutted I couldn't attend and sort of wanted to ask my questions even though I wasn't there if you know what I mean!
I've been involved at both ends of shareholders agreements quite a few times (for clients and also for me) and know what's normally included so thought it may be even a tiny bit helpful. | | | |
| Swans Trust Emergency Meeting Thurs on 00:27 - Apr 15 with 1645 views | Swanseajill |
| Swans Trust Emergency Meeting Thurs on 00:21 - Apr 15 by Uxbridge |
It would seem not Lorr. Very disappointed in him. Seems he took the barracking he got from the lady at the back personally. |
I don't think I helped by turning around and giving him the " I'm watching you" sign.
At my age I should behave myself. [Post edited 15 Apr 2016 0:28]
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| Swans Trust Emergency Meeting Thurs on 00:29 - Apr 15 with 1630 views | Highjack |
| Swans Trust Emergency Meeting Thurs on 00:27 - Apr 15 by Swanseajill |
I don't think I helped by turning around and giving him the " I'm watching you" sign.
At my age I should behave myself. [Post edited 15 Apr 2016 0:28]
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That snivellous little urchin deserves it. |  |
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| Swans Trust Emergency Meeting Thurs on 00:33 - Apr 15 with 1600 views | Uxbridge |
| Swans Trust Emergency Meeting Thurs on 00:22 - Apr 15 by londonlisa2001 |
Ha - no not at all - I wasn't expecting anyone to ask them necessarily, I was just gutted I couldn't attend and sort of wanted to ask my questions even though I wasn't there if you know what I mean!
I've been involved at both ends of shareholders agreements quite a few times (for clients and also for me) and know what's normally included so thought it may be even a tiny bit helpful. |
I don't think you were going to get complex and detailed answers to the SHA tonight!
Anyway, I can answer a couple. There is a SHA, we have been assured it's still valid, and it does have a number of protections in there one of which is pre-emption rights. It also guarantees we will have a director on the board (as will anyone with a 5% holding). Don't ask me anything more technical than that as I don't have a copy! | |
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| Swans Trust Emergency Meeting Thurs on 00:35 - Apr 15 with 1590 views | Uxbridge |
| Swans Trust Emergency Meeting Thurs on 00:27 - Apr 15 by Swanseajill |
I don't think I helped by turning around and giving him the " I'm watching you" sign.
At my age I should behave myself. [Post edited 15 Apr 2016 0:28]
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His little, whispered, comment "that's why we're here" regarding the lack of balance in recent coverage would maybe have been remotely justified if he'd managed to display any balance tonight. | |
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| Swans Trust Emergency Meeting Thurs on 00:35 - Apr 15 with 1588 views | WarwickHunt |
| Swans Trust Emergency Meeting Thurs on 00:10 - Apr 15 by MoscowJack |
David Conn has spoken positively about the Swans and Trust for years, the one exception I remember was when the dividends were paid out and he had a right pop. I thought he went over the top actually, but that's not important now.
I'm sure he's keeping a watching eye on proceedings and I know he has touch with some Trust Board members in the past (and probably now too) so this could be a nice way of exposing the snakes behind this sell-out...and nationally too! |
Seems like David Conn was right all along...
The halo hasn't just slipped, it's been flushed down the sh1tter..
http://www.theguardian.com/football/2013/apr/08/swansea-halo-owners-windfall
Swansea City's halo slips as owners decide to pocket £2m windfall
- Only Supporters' Trust opts to reinvest in rebuilt club
- Creditors under previous regime got 5p in the pound
Swansea City have announced a £16m profit for the six months to 30 November 2012 and with it, for the first time, a dividend for the club's shareholders — £1m for this and last season in the Premier League.
The chairman, Huw Jenkins, says the £2m dividend justly rewards the owners, mostly directors too, who have worked unpaid to steer a remarkable rebuilding, but it risks taking a little shine off Swansea's halo. In a game acclimatising to a new culture, in which club owners are no longer "custodians" but motivated by making money for themselves, Swansea have stood out as an exception, until now.
Since the current group of nine owners, notably including the Swansea City Supporters' Trust, put in £50,000 each in 2002 to buy the club and save it from its grimmest crisis, none has taken a penny out. The partnership with the supporters' trust, which raised £200,000 over the years to buy 20% of the club and has an elected director, Huw Cooze, on the board, is hailed as a model, recently described as "probably ideal" by the Premier League chief executive, Richard Scudamore.
Now the trust stands out too, in its attitude towards the £2m windfall. The other owners will be paid the dividend in proportion to their shareholding and are free to keep it. Martin Morgan, who owns 22.5% of the club according to its ownership statement, will receive £450,000. Brian Katzen, another original shareholder, owns 20%, having paid in £200,000, so will be paid £400,000.
Jenkins, who was paid a £200,000 salary last year and is widely admired for the shrewd way he has steered the club's recovery, owns 12.5%, so his share of the £2m dividend will be £250,000.
The trust surveyed its members in anticipation of the payout — 20% of the £2m dividend, £400,000 — and 78% responded that the trust should keep it, waiting for more shares to buy so it can increase its stake. As no other owners are selling, the trust will spend a little of it sponsoring south Wales junior football leagues and put the rest in the bank for investment should the club need it.
Jenkins argues the dividend is correct, as it reflects the club's aim to make a profit, not huge losses like so many others. Dividends, he said, are a more "tax-efficient" way of remunerating directors because national insurance is not paid on them. And he argues payments to directors could be disguised in the general wage bill, while a dividend must be declared: "We have been open," he told the Guardian. "Our shareholders are mostly working directors and you can't keep expecting them to be unpaid, with the millions going out to players and managers." Yet some sense of Swansea as devotees to a more purist way for football is being shaken. Then there is the company voluntary arrangement (CVA), on which the club's great progress since 2002 has been built — debts to a barrage of creditors, amassed by the previous regime, were settled for 5p in the pound. The City and County of Swansea was owed £35,000. Three other local authorities had to write off money and Dillwyn Llewelyn community school was owed £1,175. Swansea NHS trust was owed £1,960, the South Wales police authority, £10,448.76 and the Welsh Ambulance Service, £1,063.97. St John Ambulance was there too, its training company owed £2,411.10. The total owed to unsecured creditors was £271,208, less than a third of the dividend the owners are now declaring for themselves.
Jenkins said he believes the creditors were never fully recompensed, although St John Ambulance says its debt was recouped via advertising at the ground. The local council clearly did not hold a grudge because shortly afterwards it built the Liberty Stadium with £27m public money for the Swans and is delighted with the wider economic benefits brought to a recession-hit region. Still, it would have been classy to recompense all those old creditors from the Premier League bounty before the owners helped themselves.
After football clubs first formed into companies in the 1880s the Football Association restricted dividends, to prevent owners taking money out for themselves. The character of the clubs as member associations was to be preserved, and owners and directors were to be custodians, not in it for profit. In the Premier League era that rule was serially bypassed when the clubs floated on the Stock Exchange, and the modern FA finally gave up on it.
Swansea City had seemed to embody the former ethos, a beaming exception, and now, with this dividend, that has changed. Except for the supporters' trust, which holds its shares as a mutual body, still for no pay, just for the committed sense of belonging. [Post edited 15 Apr 2016 0:37]
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| Swans Trust Emergency Meeting Thurs on 00:36 - Apr 15 with 1581 views | londonlisa2001 |
| Swans Trust Emergency Meeting Thurs on 21:08 - Apr 14 by WarwickHunt |
"Huw Jenkins and Leigh Dineen were invited tonight but declined invitation"  |
Those cruise brochures won't read themselves you know! | | | |
| Swans Trust Emergency Meeting Thurs on 00:38 - Apr 15 with 1574 views | londonlisa2001 |
| Swans Trust Emergency Meeting Thurs on 00:33 - Apr 15 by Uxbridge |
I don't think you were going to get complex and detailed answers to the SHA tonight!
Anyway, I can answer a couple. There is a SHA, we have been assured it's still valid, and it does have a number of protections in there one of which is pre-emption rights. It also guarantees we will have a director on the board (as will anyone with a 5% holding). Don't ask me anything more technical than that as I don't have a copy! |
No I realised that ! It was more an 'aide memoire' Ux :-) | | | |
| Swans Trust Emergency Meeting Thurs on 00:41 - Apr 15 with 1558 views | Swanseajill |
There can be no way that the press that were present can ignore the anger that was felt in the room at the underhand the Fans Trust and all the fans have discovered in the last couple of days.
Report all the positives given by the Americans by all means, but Phil left them with facts that they can't possibly ignore...and decide not to print.
If we care, then our feelings shouldn't be ignored. | | | |
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