| Asset stripping - has it already started? 13:52 - Nov 5 with 12916 views | taffpop |
Thoughts? |  | | |  |
| Asset stripping - has it already started? on 21:56 - Nov 5 with 5524 views | Dewi1jack |
| Asset stripping - has it already started? on 21:04 - Nov 5 by londonlisa2001 |
I specifically asked exactly what was agreed as part of that clause. Uxbridge stated on here that it was only an agreement to not take action over the initial sale, not over any subsequent prejudice to the minority...
Of course, that was only to his knowledge as no agreement had at that point been drafted. I assume that drafts have now surely been circulated and are being edited, discussed and finalised. Or maybe not. I hope that someone looks at that bit pretty carefully. |
I do hope that you're not implying that Beaky, Dimwit, The Yanks and their money sharks are people we couldn't possibly trust.
Or would use lawyers that we couldn't trust to hide clauses gifting them the shares?
Or making us hand over the cash so they can profit from a stadium lease?
If the Yanks haven't made their money back if we get relegated, they won't get it from the parachute payments people.
£100+ million income now to £16+ million in the Chumpionship. With not many players to flog either.
Plus one hellova increase in staff and salaries since we were promoted- Beakys' on half a mill + bonuses/ divis alone. Bet he doesn't have a 50% cut in his contract.
Jase and Stevie boy also have to pay their sharks back one way or the other. Joys of selling to Delaware companies I s'pose.
With any luck the moneymen go after the ex board as well |  |
| 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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| Asset stripping - has it already started? on 22:06 - Nov 5 with 5515 views | QJumpingJack |
It's not just key players who have been sold.
The heart and soul of our club has been stripped away as well.
Sad. | | | |
| Asset stripping - has it already started? on 22:18 - Nov 5 with 5505 views | STID2017 |
We are not Chelsea or Arsenal,, etc, with multi millons in assetts.
Our assets are considerably less and if we do not stay up we'll be worth very little.
68% of nothing is worth just that - nothing.
The only way these guys can prosper is by keeping us in the PL and selling to the highest bidder for a profit.
Seems to me as well that in spite of selling some players for a seemingly high collective amount, they have spent a lot on players in January and in the summer (however wise those signings may seem).
The squad of players together with the coaching staff all have to be paid, plus we have had to pay off two managers and seem to be in line to pay off a third one.
If they are asset strippers, they don't seem very good at it |  |
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| Asset stripping - has it already started? on 22:41 - Nov 5 with 5490 views | monmouth |
| Asset stripping - has it already started? on 22:18 - Nov 5 by STID2017 |
We are not Chelsea or Arsenal,, etc, with multi millons in assetts.
Our assets are considerably less and if we do not stay up we'll be worth very little.
68% of nothing is worth just that - nothing.
The only way these guys can prosper is by keeping us in the PL and selling to the highest bidder for a profit.
Seems to me as well that in spite of selling some players for a seemingly high collective amount, they have spent a lot on players in January and in the summer (however wise those signings may seem).
The squad of players together with the coaching staff all have to be paid, plus we have had to pay off two managers and seem to be in line to pay off a third one.
If they are asset strippers, they don't seem very good at it |
Any parachute payments will just go on wages as Uncle Vinny has found up the road. Sure as shit no premier clubs will be queueing for many ofour players.
This asset stripping stuff is just as likely as selling to these people to get to the 'next level up' was. |  |
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| Asset stripping - has it already started? on 22:50 - Nov 5 with 5478 views | Uxbridge |
| Asset stripping - has it already started? on 21:04 - Nov 5 by londonlisa2001 |
I specifically asked exactly what was agreed as part of that clause. Uxbridge stated on here that it was only an agreement to not take action over the initial sale, not over any subsequent prejudice to the minority...
Of course, that was only to his knowledge as no agreement had at that point been drafted. I assume that drafts have now surely been circulated and are being edited, discussed and finalised. Or maybe not. I hope that someone looks at that bit pretty carefully. |
Can safely say the board could never proceed with any deal that stopped any legal action on future activities. |  |
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| Asset stripping - has it already started? on 09:02 - Nov 6 with 5358 views | Loyal |
| Asset stripping - has it already started? on 14:21 - Nov 5 by Jackfath |
My negativity? I think you've got the wrong bloke. You're pissed at me because I asked ( and am yet to receive a reply) about your secret plans to rid us of the Chairman. You've alluded to it in another thread I see.
Perhaps If you and your crew had done a proper job then the rest of us "thick" people wouldn't be questioning the dross served up yesterday.
Again, I feel your pain brother. |
Things were done you havent got the bottle to even read about mate.
It wasn't about getting rid of any one it was about pressure, tactical pressure and the results are and were plain to see. Your just too thick to see it.
Go and shout Jenkins out, apparently that's much better. |  |
| 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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| Asset stripping - has it already started? on 09:51 - Nov 6 with 5341 views | pencoedjack |
| Asset stripping - has it already started? on 14:04 - Nov 5 by Loyal |
They started clawing their money back from day one. And all those who felt it right to say fck all twelve months ago Jackfath Inc hang your heads in shame. |
This ^.... I stated it many times, Dr Winston & a few others said I was 'being a drama queen & a year is a long time in football'
Anyone who thinks an American hedge fund is here for the love of Swansea City is naive as fuk.
We sold our main assets in the summer with the exception of (possibly) Fab Fede Alf there is no value in our squad.
Get some kind of lease on the stadium we are ripe for selling at a profit (if we stay in the PL), if we dont basically we are fuked cos they aint going to pump money in to get us to promoted.
The next level .... Sellouts hang your heads in shame. |  | | |
| Asset stripping - has it already started? on 10:35 - Nov 6 with 5321 views | Highjack |
| Asset stripping - has it already started? on 17:25 - Nov 5 by monmouth |
Haven’t we done this loads of times? They simply cannot take millions out of the club without defrauding the minority. The Trust will have perfect line of sight through the management accounts for any attempt to rape the club through fees or wages. That’s not to say that there won’t be a plan to get at it in future, if it exists. It could simply be there really is no pot of gold. You can’t just take net transfer fees. I would expect some spending in January. Staying in the PL and flipping the club is the plan.
Without dividends (which they won’t do for obvious reasons) or excessive loan interest, not having full ownership means they cannot get at any transfer surplus. |
They can use that transfer surplus to aquire a 21000 seater stadium on the cheap though, raising the value of their portfolio for when they inevitably sell it on to the next "investor". This is clearly their plan. They've been after the stadium since day one. |  |
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| Asset stripping - has it already started? on 12:28 - Nov 6 with 5292 views | cockneyswan |
| Asset stripping - has it already started? on 10:35 - Nov 6 by Highjack |
They can use that transfer surplus to aquire a 21000 seater stadium on the cheap though, raising the value of their portfolio for when they inevitably sell it on to the next "investor". This is clearly their plan. They've been after the stadium since day one. |
And now they’ve got it , SCFC RIP 😩 |  | | |
| Asset stripping - has it already started? on 13:20 - Nov 6 with 5247 views | Dewi1jack |
| Asset stripping - has it already started? on 12:28 - Nov 6 by cockneyswan |
And now they’ve got it , SCFC RIP 😩 |
And already the planned expansion is being binned by the looks of things
"Swansea's Liberty Stadium expansion a 'balancing act'
Swansea City's chief operating officer Chris Pearlman has said expanding the Liberty Stadium is necessary.
The Swans have agreed to lease the £27m venue from Swansea council and will pay the authority £300,000 a year.
One of the key aims for the Swans is to expand the stadium but the club is struggling in the Premier League and battling against relegation again after narrowly avoiding the drop last season.
Mr Pearlman said any decision would be a "balancing act".
http://www.bbc.co.uk/news/uk-wales-south-west-wales-41863135
Definitely time for the Trust to start communicating with its' members otherwise there won't be any members.
Or is that the plan to keep the silence?
Give up the shares to the club when there's no members
Edit.
Found a bit more
"We'd be foolish to ever move forward with an expansion without contemplating we may some day not be in the Premier League," he said, adding the decision is a "balancing act"
http://www.bbc.co.uk/news/uk-wales-south-west-wales-41863135 [Post edited 6 Nov 2017 13:28]
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| 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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| Asset stripping - has it already started? on 13:36 - Nov 6 with 5232 views | Dewi1jack |
Also.
Time for the Trust to hurry up on the share sale and NOT give the money back.
Or approach the Council quickly to buy a share of the stadium with the £5million, thus acting as a guardian for the taxpayer as well.
The Yanks, sorry our club will be shelling out over £11 million over the next 37 years.
£5 million should buy us a quarter of the stadium outright.
Then we can hit the Yanks for part of the rent ,as well as the council getting some, just to fukem off
Win win for us. Win win for the council as they get a pretty good guarantee over the stadium- fans checking it for them. | |
| 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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| Asset stripping - has it already started? on 15:01 - Nov 6 with 5181 views | NOTRAC |
| Asset stripping - has it already started? on 13:36 - Nov 6 by Dewi1jack |
Also.
Time for the Trust to hurry up on the share sale and NOT give the money back.
Or approach the Council quickly to buy a share of the stadium with the £5million, thus acting as a guardian for the taxpayer as well.
The Yanks, sorry our club will be shelling out over £11 million over the next 37 years.
£5 million should buy us a quarter of the stadium outright.
Then we can hit the Yanks for part of the rent ,as well as the council getting some, just to fukem off
Win win for us. Win win for the council as they get a pretty good guarantee over the stadium- fans checking it for them. |
I absolutely agree with that.
It looks as though the Americans have not even had to pay a premium on the lease.If that is the case the acquisition of the lease has probably added another £20m to their share values.
The Trust could have recovered a lot of their lost prestige if they had been involved.
To have heard nothing from them on this issue is frankly a bloody disgrace. | |
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| Asset stripping - has it already started? on 12:26 - Nov 7 with 5020 views | MoscowJack |
What I find quite bizarre is the lack of comparison to our "sister club" DC United.
They were an ok or average side before these Yanks bought them. They did some pretty good political work to get a new stadium but invested NOTHING in the team. Sound familiar?
Last time I looked they were sitting adrift at the bottom of their League. They're lucky there's no relegation in the MLS, but there sure is in the PL !!
Now they're apparently trying to sell them for a lovely return! | |
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| Asset stripping - has it already started? on 12:36 - Nov 7 with 5004 views | monmouth |
| Asset stripping - has it already started? on 12:26 - Nov 7 by MoscowJack |
What I find quite bizarre is the lack of comparison to our "sister club" DC United.
They were an ok or average side before these Yanks bought them. They did some pretty good political work to get a new stadium but invested NOTHING in the team. Sound familiar?
Last time I looked they were sitting adrift at the bottom of their League. They're lucky there's no relegation in the MLS, but there sure is in the PL !!
Now they're apparently trying to sell them for a lovely return! |
We're second bottom though. That's progress, right? | |
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| Asset stripping - has it already started? on 12:43 - Nov 7 with 4992 views | MoscowJack |
| Asset stripping - has it already started? on 12:36 - Nov 7 by monmouth |
We're second bottom though. That's progress, right? |
Give 'em a chance!!!  | |
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| Asset stripping - has it already started? on 22:32 - Nov 7 with 4864 views | Nookiejack |
| Asset stripping - has it already started? on 17:25 - Nov 5 by monmouth |
Haven’t we done this loads of times? They simply cannot take millions out of the club without defrauding the minority. The Trust will have perfect line of sight through the management accounts for any attempt to rape the club through fees or wages. That’s not to say that there won’t be a plan to get at it in future, if it exists. It could simply be there really is no pot of gold. You can’t just take net transfer fees. I would expect some spending in January. Staying in the PL and flipping the club is the plan.
Without dividends (which they won’t do for obvious reasons) or excessive loan interest, not having full ownership means they cannot get at any transfer surplus. |
The Trust didn’t receive Management accounts for about 6 months after the sale. What is to stop the Yanks paying say £30m Management fee to Delaware company then delaying the management accounts again for another 6 months.
I’d we go down their the Yanks strategy must be offload as many players as possible replace them with the U23s on nominal wages then bank the parachute money through management fees.
How does the Trust ensure that it receives 21% parachute money - without it all being sent offshore?
The Trust (Phil and Uxbridge) would of course take legal action to recover the 21% that went offshore. | | | |
| Asset stripping - has it already started? on 22:46 - Nov 7 with 4833 views | MoscowJack |
I think the Oyston's £31m defeat in court today against a minority (20%?) owner for exactly what you've described might make some think twice, but I honestly don't think the Yanks are looking to do this.
They want to get hold of the ground (tick!), wait for the new TV rights to be announced (no tick) and spin us off for about £100m more than they've paid.....all without actually putting any money into the club!
In order for them to achieve the above, we'll have to be in the PL ! | |
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| Asset stripping - has it already started? on 22:57 - Nov 7 with 4819 views | Nookiejack |
| Asset stripping - has it already started? on 22:46 - Nov 7 by MoscowJack |
I think the Oyston's £31m defeat in court today against a minority (20%?) owner for exactly what you've described might make some think twice, but I honestly don't think the Yanks are looking to do this.
They want to get hold of the ground (tick!), wait for the new TV rights to be announced (no tick) and spin us off for about £100m more than they've paid.....all without actually putting any money into the club!
In order for them to achieve the above, we'll have to be in the PL ! |
Interesting about the Oyston’s.
At least they are onshore but will probably still be difgicult for the 20% to get their money.
What happens if the Oyston’s say they have spent it and declare bankruptcy?
Is there any method of the Trust applying for a court order to stop money being paid to the Delaware company? | | | |
| Asset stripping - has it already started? on 23:28 - Nov 7 with 4774 views | labrax |
Corporate raider and poison pill!!! | |
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| Asset stripping - has it already started? on 23:41 - Nov 7 with 4763 views | labrax |
£97.2m turnover
£32.7m current assetts
£6.7m net assetts
92.4% debt to capital
£20.2m cash in the bank
£76.9m current liabilities
Latest accounts : 31st July 2016
Discuss! [Post edited 7 Nov 2017 23:56]
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| Asset stripping - has it already started? on 23:43 - Nov 7 with 4760 views | majorraglan |
| Asset stripping - has it already started? on 22:57 - Nov 7 by Nookiejack |
Interesting about the Oyston’s.
At least they are onshore but will probably still be difgicult for the 20% to get their money.
What happens if the Oyston’s say they have spent it and declare bankruptcy?
Is there any method of the Trust applying for a court order to stop money being paid to the Delaware company? |
Just read about the Oyston case on the BBC and it’s very interesting, hopefully the Trust have seen this.
I am not sure about a Court Order/injunction, but if the Trust were to litigate and be successful and there were issues re securing compensation, would they be able to secure a “charge” against future Sky TV money/parachute payments so that money’s were paid direct to them? I suspect that hefty legal bills and a long drawn out Court would not be what any of the parties want, Messrs Levein and Kaplan May find that prospective purchasers are put off and it becomes difficult to move the club on, the old board could incur signinifacnt legal bills as could the Trust with no guarantees of defending/winning a case. | | | |
| Asset stripping - has it already started? on 00:11 - Nov 8 with 4729 views | owainglyndwr |
Are you a swans fan living in Cardiff or a blueturd on a swansea board.
Just interested the river Taff |  | | |
| Asset stripping - has it already started? on 01:22 - Nov 8 with 4714 views | KingBony |
| Asset stripping - has it already started? on 16:59 - Nov 5 by Fireboy2 |
I said this when they bought the 68%
It's a win/win situation for them
They reap the profits from selling and siphon off the PL payment whilst we are there and if we go down they will siphon off the parachute payments ala venkys at burn and the oystons at pool
They might spend in january to keep us up but if anyone who thinks they will spend if we go down think again they will stay whilst we get parachute payments then do one
What vexes me is the PL and FL let this happen |
Yeah “do one” thicko’s |  |
| Daddy Daddy cool, Daddy Daddy cool |
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| Asset stripping - has it already started? on 20:27 - Nov 8 with 4572 views | Nookiejack |
| Asset stripping - has it already started? on 23:43 - Nov 7 by majorraglan |
Just read about the Oyston case on the BBC and it’s very interesting, hopefully the Trust have seen this.
I am not sure about a Court Order/injunction, but if the Trust were to litigate and be successful and there were issues re securing compensation, would they be able to secure a “charge” against future Sky TV money/parachute payments so that money’s were paid direct to them? I suspect that hefty legal bills and a long drawn out Court would not be what any of the parties want, Messrs Levein and Kaplan May find that prospective purchasers are put off and it becomes difficult to move the club on, the old board could incur signinifacnt legal bills as could the Trust with no guarantees of defending/winning a case. |
That does sound excellent being able to secure a charge against the TV money.
The worrying thing is would Phil and Uxbridge even then take legal action? | | | |
| Asset stripping - has it already started? on 12:17 - Nov 9 with 4474 views | Jacket |
It'd make no business sense. However, their business over the summer seems to show they have no business sense. So asset stripping is definitely a possibility. [Post edited 9 Nov 2017 12:21]
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