| Takeover Confirmed on 11:35 - Jun 5 with 1780 views | max936 |
| Takeover Confirmed on 11:27 - Jun 5 by swancity |
It's the day our Club changed for ever. We may progress and we may not but whichever direction we take it's a sad day. Dark clouds are gathering and I'm seriously underwhelmed. It don't care if they have a million gazillion trillion pounds to invest. It's not been handled too well and it's all change.
I sincerely hope our club progress which will go some way to justifying the decision but it's not our Club any more and that changes things. A lot. |
Nige it hasn't been our Club since we've been in the Premier League in all reality, the board have distanced themselves more and more each year. |  |
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| Takeover Confirmed on 11:36 - Jun 5 with 1780 views | Whiterockin |
How long before we can find out officially how the new share split works out. |  | | |
| Takeover Confirmed on 11:36 - Jun 5 with 1780 views | Loyal |
| Takeover Confirmed on 11:01 - Jun 5 by A_Fans_Dad |
This just goes to show what a load of Horse Manure the Jack to a King movie was.
I would like see the sequel, "A Jack to a King to a Judas Priest in one easy move" |
It was a ll a myth a lie and in the words of McLaren ' A swindle ' |  |
| Nolan sympathiser, clout expert, personal friend of Leigh Dineen, advocate and enforcer of porridge swallows.
The official inventor of the tit w@nk. | | Poll: | Who should be Swansea number 1 |
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| Takeover Confirmed on 11:37 - Jun 5 with 1763 views | monmouth |
The new constitution of the club is surely the key in terms of the Trust. they could never stop the share sale and were clear that they viewed delay detrimental to the best interests of the club. The legals surrounding the content of a new or continuance of the old shareholders agreement are now presumably in play.
If anyone's looking for positives, it could have been a whole lot worse. 60% ownership means nobody can really run rampant and some critical controls should be able to be exercised as they'd not be in the 40% interest (dilution, change of articles).
I'm grieving a bit over the loss of 'local club for local people' but we don't have a single megalomaniac nutter owning the club. The Trust needs to work out how to evolve into a new effective model now for the changed circumstances. Any vestige of pally cheerleading, which was sometimes the impression - I'm not saying the reality - has to be a thing of the past imo. |  |
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| Takeover Confirmed on 11:39 - Jun 5 with 1747 views | ItchySphincter |
| Takeover Confirmed on 11:37 - Jun 5 by monmouth |
The new constitution of the club is surely the key in terms of the Trust. they could never stop the share sale and were clear that they viewed delay detrimental to the best interests of the club. The legals surrounding the content of a new or continuance of the old shareholders agreement are now presumably in play.
If anyone's looking for positives, it could have been a whole lot worse. 60% ownership means nobody can really run rampant and some critical controls should be able to be exercised as they'd not be in the 40% interest (dilution, change of articles).
I'm grieving a bit over the loss of 'local club for local people' but we don't have a single megalomaniac nutter owning the club. The Trust needs to work out how to evolve into a new effective model now for the changed circumstances. Any vestige of pally cheerleading, which was sometimes the impression - I'm not saying the reality - has to be a thing of the past imo. |
But something isn't right?
Goes to show people know f-all about how these things works. Egg on faces. |  |
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| Takeover Confirmed on 11:42 - Jun 5 with 1727 views | monmouth |
| Takeover Confirmed on 11:39 - Jun 5 by ItchySphincter |
But something isn't right?
Goes to show people know f-all about how these things works. Egg on faces. |
The only people who can answer that are inside the club mate.
It seems some people acted in good faith (the 'egg on faces' you are aluding to?) and some didn't. | |
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| Takeover Confirmed on 11:42 - Jun 5 with 1725 views | max936 |
| Takeover Confirmed on 11:37 - Jun 5 by monmouth |
The new constitution of the club is surely the key in terms of the Trust. they could never stop the share sale and were clear that they viewed delay detrimental to the best interests of the club. The legals surrounding the content of a new or continuance of the old shareholders agreement are now presumably in play.
If anyone's looking for positives, it could have been a whole lot worse. 60% ownership means nobody can really run rampant and some critical controls should be able to be exercised as they'd not be in the 40% interest (dilution, change of articles).
I'm grieving a bit over the loss of 'local club for local people' but we don't have a single megalomaniac nutter owning the club. The Trust needs to work out how to evolve into a new effective model now for the changed circumstances. Any vestige of pally cheerleading, which was sometimes the impression - I'm not saying the reality - has to be a thing of the past imo. |
Good Post Monny, the only thing I'd say is about the 19% that remains with the Board members that sold their majority shares, are they going to side with the 60% If or when push comes to shove? that's the unknown for me. | |
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| Takeover Confirmed on 11:45 - Jun 5 with 1711 views | costalotta |
| Takeover Confirmed on 11:23 - Jun 5 by DafyddHuw |
Really? What makes you say that?
I think most clubs' supporters would react in exactly the way that we have, given all the machiavelisms that's been going on. |
Not sure if this is directed at my post?
I wasnt talking about the fans per se... What I mean is that certain members of the board have had plenty of cake and now want more. For continuity I getvkeeping HJ and LD staying on, for now. But if does go tits up I would not trust them to again work with the Trust as their motivations can now be questioned. That's IMO.
Regarding the trust and the fans, as we've had this change of ownership I wonder if means a change in the 'cosy' relatianship between the trust and the board for the last few years. It's not all bad, I don't want to paint that kind of picture. But if the Trust are to continue to represent the fans they/we need to step up. The stakes are now higher and the board will become even more ruthless if needed going forward and whilst this could be positive it cou.d also be a negative.
londonlisa has posted with insight on the takeover and trust recently and some very pertaining questions, I'd love to know why these still have not been addressed by the Trust. Perhaps new blood is needed but do we have the kind of leadership in swansea that's needed? |  | | |
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| Takeover Confirmed on 11:46 - Jun 5 with 1702 views | Nookiejack |
| Takeover Confirmed on 11:35 - Jun 5 by Nookiejack |
It will be interesting to understand if the existing (non Trust) shareholders who have sold and may be left with some small residual equity stakes - have assigned their voting rights away on those residual stakes.
The Trust should have sold in my view - as would have been best way of ensuring a professional football club in Swansea - totally controlled by the fans.
Staying in is a very short term view - especially with ups and downs of football - should have taken a much longer strategic view. |
It will also be able to understand if buyers have call options over the residual stakes - if for example we retain PL status in next few years.
As this would be a way of structuring the deal to make Jenkins and Morgan - appear to give the illusion that they have left protections in - as per Dr Winstons thoughts above that with their residual stakes and the Trusts could achieve 25% level - to block special resolutions.
However if
1. Voting rights on the residual stakes have been assigned away;
And/or
2. Options have been granted in the residual stakes
.......then any so called protections spun in the press will be an IllUSION. |  | | |
| Takeover Confirmed on 11:46 - Jun 5 with 1697 views | union_jack |
| Takeover Confirmed on 11:19 - Jun 5 by icecoldjack |
Fair point.
IMO keeping Jenkins in the job i have no issue with, he has proven himself to be good at what he does overall, Dineen? well i'm not so sure, that's not to be mean but i don't think his record of running the commerical aspects of the club has been up to what it should be for a global product.
All the roles taken on by our board have been taken on with forgiveness in mind from supporters, now people will expect every aspect of our club to be run spot on and as professional as can be.
I suspect there will be a change of attitude from many people to those who will now occupy key positions, they are now eing payed as full time executives in a market where results matter, no free pass because they saved the club many years ago, it's just pure buisiness from now on. |
Good post.
My concern is that as employees now and therefore having no financial interest in the club (or to the same extent), decisions may not be made with the same care or thought. It will be a natural change of mindset and even a small one could end up being a disaster, an attitude of "if I do f@ck up, so what. I've got plenty of money anyway if they sack me". Human nature sadly.
Let's just wait and see though. I'm not that negative in the whole. It could be a very good thing.
As for directors selling out. I'm sorry, but I don't blame them. They've put time, money and effort into this. They deserve some reward for the risk they took, and it was a huge one when they took it on. |  |
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| Takeover Confirmed on 11:47 - Jun 5 with 1692 views | Landore_Jack |
Does anybody know the percentage figures? How much will Huw, Leigh, Steve and Jason own? |  |
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| Takeover Confirmed on 11:48 - Jun 5 with 1686 views | monmouth |
| Takeover Confirmed on 11:42 - Jun 5 by max936 |
Good Post Monny, the only thing I'd say is about the 19% that remains with the Board members that sold their majority shares, are they going to side with the 60% If or when push comes to shove? that's the unknown for me. |
As I see it, there's no real reason for them to now Steve, if they don't feel it's in the interest of the club. They have their money after all. It would worry me more if they sold up the rest to the yanks in future. | |
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| Takeover Confirmed on 11:50 - Jun 5 with 1657 views | pikeypaul |
You can be sure that the 60% will slowly but surely creep up with certain share holders off loading whilst keeping their comfy little jobs.
So why have Jenkins and Dineen kept a relatively small "token" amount of shares? |  |
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| Takeover Confirmed on 11:54 - Jun 5 with 1639 views | monmouth |
| Takeover Confirmed on 11:45 - Jun 5 by costalotta |
Not sure if this is directed at my post?
I wasnt talking about the fans per se... What I mean is that certain members of the board have had plenty of cake and now want more. For continuity I getvkeeping HJ and LD staying on, for now. But if does go tits up I would not trust them to again work with the Trust as their motivations can now be questioned. That's IMO.
Regarding the trust and the fans, as we've had this change of ownership I wonder if means a change in the 'cosy' relatianship between the trust and the board for the last few years. It's not all bad, I don't want to paint that kind of picture. But if the Trust are to continue to represent the fans they/we need to step up. The stakes are now higher and the board will become even more ruthless if needed going forward and whilst this could be positive it cou.d also be a negative.
londonlisa has posted with insight on the takeover and trust recently and some very pertaining questions, I'd love to know why these still have not been addressed by the Trust. Perhaps new blood is needed but do we have the kind of leadership in swansea that's needed? |
It was actually passing through my head that the dividend money could be used, at least for an interim period until things are established to fund an experienced non-executive director, because that's what the Supporter Director is. Or at least fund some training in how to discharge that duty effectively, to avoid conflicts of interest and to be independent. | |
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| Takeover Confirmed on 11:55 - Jun 5 with 1635 views | BarrySwan |
Brilliant so the Swans have now become the plaything of a couple of Americans.
Well done Jenkins and Dineen you sellouts. | | | |
| Takeover Confirmed on 11:57 - Jun 5 with 1626 views | A_Fans_Dad |
| Takeover Confirmed on 11:35 - Jun 5 by Nookiejack |
It will be interesting to understand if the existing (non Trust) shareholders who have sold and may be left with some small residual equity stakes - have assigned their voting rights away on those residual stakes.
The Trust should have sold in my view - as would have been best way of ensuring a professional football club in Swansea - totally controlled by the fans.
Staying in is a very short term view - especially with ups and downs of football - should have taken a much longer strategic view. |
"The Trust should have sold in my view", it would have been one option, except nobody offered to buy their shares, so they couldn't sell them.
Whether they can find someone to buy them in the future is not certain. | | | |
| Takeover Confirmed on 11:58 - Jun 5 with 1617 views | NeiltheTaylor |
We now find out how this plays out.
Be interesting if the Trust choose to be open with its members rather than being scared of the other board members. I suspect it will get worse as fear of being even more "frozen out" (if that would be possible) will make the dynamic even more obsequious | |
| Joe_bradshaw -I thought the cryochamber was the new name for Cardiff's stadium.
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| Takeover Confirmed on 11:59 - Jun 5 with 1608 views | max936 |
| Takeover Confirmed on 11:48 - Jun 5 by monmouth |
As I see it, there's no real reason for them to now Steve, if they don't feel it's in the interest of the club. They have their money after all. It would worry me more if they sold up the rest to the yanks in future. |
It all comes down to time at the end of the day Monny, only then will we really know, I am, however, expecting a honeymoon period, but really unsure on how long that will last. | |
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| Takeover Confirmed on 12:02 - Jun 5 with 1591 views | pikeypaul |
| Takeover Confirmed on 11:55 - Jun 5 by BarrySwan |
Brilliant so the Swans have now become the plaything of a couple of Americans.
Well done Jenkins and Dineen you sellouts. |
Not a play thing at all,they will try to make a success of the club.
They will want to increase its value since it's a business to them not like
many other owners who do treat owning a club as a play thing.
They are not here for fun weekends away from the states that's for sure. | |
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| Takeover Confirmed on 12:03 - Jun 5 with 1584 views | Dr_Winston |
| Takeover Confirmed on 11:19 - Jun 5 by icecoldjack |
Fair point.
IMO keeping Jenkins in the job i have no issue with, he has proven himself to be good at what he does overall, Dineen? well i'm not so sure, that's not to be mean but i don't think his record of running the commerical aspects of the club has been up to what it should be for a global product.
All the roles taken on by our board have been taken on with forgiveness in mind from supporters, now people will expect every aspect of our club to be run spot on and as professional as can be.
I suspect there will be a change of attitude from many people to those who will now occupy key positions, they are now eing payed as full time executives in a market where results matter, no free pass because they saved the club many years ago, it's just pure buisiness from now on. |
Dineen was bumping his gums on Twitter last night about how well the commercial dept was doing despite being the smallest in the PL.
Question is why is it the smallest in the PL despite us being here for half a decade, and what is the prat in charge of the whole operation doing to earn his keep? |  |
| Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back. |
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| Takeover Confirmed on 12:06 - Jun 5 with 1565 views | costalotta |
| Takeover Confirmed on 11:54 - Jun 5 by monmouth |
It was actually passing through my head that the dividend money could be used, at least for an interim period until things are established to fund an experienced non-executive director, because that's what the Supporter Director is. Or at least fund some training in how to discharge that duty effectively, to avoid conflicts of interest and to be independent. |
That is a great shout.
Although I think I'd favour the recruiting of such an individual rather training of another. Would the trust go for this kind of arrangement though? People do not like giving what 'Power' they have however big or small and change is something that most people don't like. However the game has changed and the fans and trust need to change with it. | | | |
| Takeover Confirmed on 12:13 - Jun 5 with 1517 views | BarrySwan |
| Takeover Confirmed on 12:02 - Jun 5 by pikeypaul |
Not a play thing at all,they will try to make a success of the club.
They will want to increase its value since it's a business to them not like
many other owners who do treat owning a club as a play thing.
They are not here for fun weekends away from the states that's for sure. |
Oh fair play then
Nothing like the Glazers at Man Utd then? | | | |
| Takeover Confirmed on 12:21 - Jun 5 with 1466 views | Joe_bradshaw |
| Takeover Confirmed on 11:50 - Jun 5 by pikeypaul |
You can be sure that the 60% will slowly but surely creep up with certain share holders off loading whilst keeping their comfy little jobs.
So why have Jenkins and Dineen kept a relatively small "token" amount of shares? |
Presumably because it justifies (in their eyes) them keeping their jobs.
Jenkins has a decent case for being the best man for the job. Dineen doesn't. |  |
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| Takeover Confirmed on 12:23 - Jun 5 with 1437 views | tomdickharry |
| Takeover Confirmed on 11:47 - Jun 5 by Landore_Jack |
Does anybody know the percentage figures? How much will Huw, Leigh, Steve and Jason own? |
Would think that once the new ownership has been approved by the Premier League then the return of the new share allocation will be made at companies house and the official site. | | | |
| Takeover Confirmed on 12:25 - Jun 5 with 1412 views | trampie |
Pity the shareholders did not sell some shares to the trust for a cheap price to get the trusts holding up to the much talked about 25%, I have heard reasons/excuses for this not happening, the shareholders that are selling must hope that things work out well for the Swans as their legacy will depend on it. |  |
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