| From The Trust 09:59 - Jan 6 with 27571 views | Phil_S |
News from the Trust
Discussions on sale of Trust shares put on hold.
Dear Phil
We have been advised by the majority owners of Swansea City that they intend to put discussions around the sale of some of the Trust's shares to the owners of the club on hold. When informing us of this, the owners of the club cited the ongoing concerns among some Trust and Trust Board members about aspects of the share sale and also the majority owners own desire to concentrate on on-field matters.
As the mandate from Trust members to sell shares was given in July 2017 and there will now be a further delay in fulfilling that mandate, the Trust Board can confirm that a further members’ consultation will take place to ensure the Trust Board is acting on the current views of its membership on how we proceed from this point.
We will provide a further update to members as soon as possible.
Best wishes
The Swans Trust Team |  | | |  |
| From The Trust on 13:57 - Jan 6 with 2225 views | harryhpalmer |
| From The Trust on 12:51 - Jan 6 by londonlisa2001 |
Paying excessive management fees is a very clear prejudice against the minority shareholder.
I would imagine they will have received that advice. |
I take it the Trust has the right to look at the day to day accounts at any given time to check that this is not already happening? |  |
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| From The Trust on 14:00 - Jan 6 with 2209 views | 3swan |
| From The Trust on 13:57 - Jan 6 by harryhpalmer |
I take it the Trust has the right to look at the day to day accounts at any given time to check that this is not already happening? |
Fairly sure that in the Trust board minutes it states they get to see the monthly figures | | | |
| From The Trust on 14:03 - Jan 6 with 2193 views | harryhpalmer |
| From The Trust on 13:57 - Jan 6 by harryhpalmer |
I take it the Trust has the right to look at the day to day accounts at any given time to check that this is not already happening? |
one for Lisa, ExiledJack and Ux.
the statement from Kaplan and Levien says that the Trust are being offered preferential terms
"The offer would have seen the Trust shares purchased on terms more preferential than those accepted by the previous shareholders in July 2016.
is this true? and if so what kind of bearing does this have on any legal action? I guess it is moot as they have stopped the negs? | |
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| From The Trust on 14:22 - Jan 6 with 2133 views | exiledclaseboy |
| From The Trust on 14:03 - Jan 6 by harryhpalmer |
one for Lisa, ExiledJack and Ux.
the statement from Kaplan and Levien says that the Trust are being offered preferential terms
"The offer would have seen the Trust shares purchased on terms more preferential than those accepted by the previous shareholders in July 2016.
is this true? and if so what kind of bearing does this have on any legal action? I guess it is moot as they have stopped the negs? |
It is apparently true but not being privy to the detail I’ll let Ux and/or Lisa field the rest of the question if they fancy it. |  |
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| From The Trust on 14:29 - Jan 6 with 2109 views | jacksfullaces |
| From The Trust on 13:43 - Jan 6 by MoscowJack |
Is it possible that they've just thought "fcuk it, if they want a fight, we'll give them one" and will drain the Trust's £800k in legal fees over the next few years?
In almost every experience I've had with Americans, they love threatening court and know that they'll win 9/10 if they have significant more money than the people they're fighting. It might be different in UK, but I wouldn't be surprised if they could drain every penny from the Trust's account before a decision is even made.
One thing the Yanks are good at is winning legal battles. |
well it certainly ain't winning football matches | | | |
| From The Trust on 14:43 - Jan 6 with 2060 views | Oldjack |
| From The Trust on 12:49 - Jan 6 by exiledclaseboy |
This is purely a personal view but I’m also disappointed that the owners of the club stopped the sale before the Trust did. |
I'm i missing something here.?They don't have to buy any trust shares and why would they want to ? they've already got total control of the club ,what's the point in buying more useless shares ,it makes no sense ,and correct me if i'm wrong .They only offered to buy a few to shut the trust up and stop legal action [Post edited 6 Jan 2018 14:59]
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| Prosser the Tosser dwells on Phil's bum hole like a rusty old hemorrhoid ,fact
You Greedy Bastards Get Out Of OUR Club!
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| From The Trust on 16:01 - Jan 6 with 1893 views | E20Jack |
| From The Trust on 15:57 - Jan 6 by Neath_Jack |
You couldn't assure me that water is wet wuss.
You're being very silly and attention seeking. Never mind, ECB has told you he'd sort it for you now anyway, so happy days welcome on board. |
I don't understand what that means, I am guessing neither do you but glad you now realise that sticking up for our club is neither silly nor attention seeking - stating it is because you feel a twinge of guilt could be construed as either however. That is on your head, not mine.
ECB doesn't have to sort me out ''wuss''. Lisa is well aware of who I am, what I do and I am sure will pass on my comments if needed. Now if only we can get more principled individuals we may not find ourselves in these situations as often as we tend to. |  |
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| From The Trust on 16:20 - Jan 6 with 1870 views | PawelAbbott |
Why would they want to go ahead with the share purchase now?
Wait 16 more games and they can buy them for a fraction of the price they had agreed previously | | | |
| From The Trust on 16:20 - Jan 6 with 1869 views | LeonWasGod |
| From The Trust on 10:15 - Jan 6 by swancity |
Good news. But in the event of relegation can someone please explain what bearing does this have on the sale of shares and value? And the possible outcomes ? |
Once we're relegated and the club's value drops by at least 50% I can't see the owners willingly buying shares at an inflated historical price. |  | | |
| From The Trust on 16:24 - Jan 6 with 1835 views | E20Jack |
| From The Trust on 16:20 - Jan 6 by PawelAbbott |
Why would they want to go ahead with the share purchase now?
Wait 16 more games and they can buy them for a fraction of the price they had agreed previously |
To stop the Trust from taking legal action and having the added power to rope the Trust into any deal which will make any sale to someone else potentially a favourable proposition.
I am amazed it was them that pulled out and not the Trust, just goes to show the arrogance of the Americans and how pitiful they view the Trust. I would imagine they may feel they are somewhat protected by the guarantee of the former selling shareholders, but that is just a guess. Did not see this one coming. | |
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| From The Trust on 17:02 - Jan 6 with 1765 views | Uxbridge |
| From The Trust on 14:22 - Jan 6 by exiledclaseboy |
It is apparently true but not being privy to the detail I’ll let Ux and/or Lisa field the rest of the question if they fancy it. |
It may be technically true in terms of the staging of the payments, however I'll enjoy anyone trying to explain how the offer made to the Trust is preferential to the offer made to any of the selling shareholders who got to choose how and what they sold, and when. |  |
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| From The Trust on 18:30 - Jan 6 with 1653 views | MyFinalHeaven |
https://www.swanseacity.com/news/club-statement-0
Don't be fooled by the statement written by Kaplan and Levien posted on the club's official website above.
This has absolutely nothing to do with not wanting to "overshadow the club’s fight to maintain its Premier League status and the upcoming transfer window," or wanting to "devote all our time, energy and resources into addressing the immediate challenges facing the club."
These are all lies, as usual from Kaplan and Levien. All this boils down to is that they don't want to put any more money towards want they know will likely be a Championship club in a few months. Simple as that. This is all about protecting their original investment and making sure they don't hemorrhage any more money. They're not the brightest people around when it comes to football (huge understatement), but they're smart enough to know that we're probably going to go down. [Post edited 6 Jan 2018 18:43]
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| From The Trust on 18:37 - Jan 6 with 1636 views | exiledclaseboy |
| From The Trust on 18:30 - Jan 6 by MyFinalHeaven |
https://www.swanseacity.com/news/club-statement-0
Don't be fooled by the statement written by Kaplan and Levien posted on the club's official website above.
This has absolutely nothing to do with not wanting to "overshadow the club’s fight to maintain its Premier League status and the upcoming transfer window," or wanting to "devote all our time, energy and resources into addressing the immediate challenges facing the club."
These are all lies, as usual from Kaplan and Levien. All this boils down to is that they don't want to put any more money towards want they know will likely be a Championship club in a few months. Simple as that. This is all about protecting their original investment and making sure they don't hemorrhage any more money. They're not the brightest people around when it comes to football (huge understatement), but they're smart enough to know that we're probably going to go down. [Post edited 6 Jan 2018 18:43]
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Their insistence on conflating on field catastrophes with off field issues is really galling I agree. [Post edited 6 Jan 2018 18:43]
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| From The Trust on 18:45 - Jan 6 with 1592 views | Darran |
| From The Trust on 18:37 - Jan 6 by exiledclaseboy |
Their insistence on conflating on field catastrophes with off field issues is really galling I agree. [Post edited 6 Jan 2018 18:43]
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I said that this morning mun keep up is it. |  |
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| From The Trust on 18:47 - Jan 6 with 1579 views | exiledclaseboy |
| From The Trust on 18:45 - Jan 6 by Darran |
I said that this morning mun keep up is it. |
F*ck off is it. | |
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| From The Trust on 18:48 - Jan 6 with 1575 views | Darran |
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| From The Trust on 18:49 - Jan 6 with 1576 views | QJumpingJack |
A complete lack of respect shown to the Trust.
The Americans are in court with Penney and Keefe so are already distracted from on the field matters.
If the Americans are still here in a year's time I would expect we will be in the same position - waiting until the end of the season. [Post edited 6 Jan 2018 18:51]
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| From The Trust on 18:49 - Jan 6 with 1571 views | Phil_S |
| From The Trust on 18:49 - Jan 6 by QJumpingJack |
A complete lack of respect shown to the Trust.
The Americans are in court with Penney and Keefe so are already distracted from on the field matters.
If the Americans are still here in a year's time I would expect we will be in the same position - waiting until the end of the season. [Post edited 6 Jan 2018 18:51]
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Keefe. Just saying | | | |
| From The Trust on 18:51 - Jan 6 with 1560 views | exiledclaseboy |
| From The Trust on 10:16 - Jan 6 by Phil_S |
OK knowing people who sit on both sides of the table for these statements I am going to draw a couple of conclusions
1. The Americans statement will have started life in a very different guise. Probably more critical of some individuals, some of them current and some of them ex board members
2. This website in particular (amongst them all) and social media is a source for them gauging feelings so they will be totally well advised (by their PR team) as to what is happening in the general fanbase.
3. The Trust board (Stuart in particular) will have advised them that their original statement will not help the situation so it will have been toned down.
4. This will have given the Trust chance to produce their own statement which is probably a little more vague then maybe they would have liked but gives the clear answers (that have been backed up already by Ux and Lisa that ultimately we are heading towards a different route)
Obviously I could be wrong but based on experience that would be my gut feel of experiencing life for 18 months in these positions |
Only just noticed this. You are Derren Brown and I claim my five pounds. | |
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| From The Trust on 18:54 - Jan 6 with 1547 views | Phil_S |
| From The Trust on 18:51 - Jan 6 by exiledclaseboy |
Only just noticed this. You are Derren Brown and I claim my five pounds. |
Speaking of which seeing him again in Cardiff in May | | | |
| From The Trust on 18:54 - Jan 6 with 1545 views | MyFinalHeaven |
| From The Trust on 18:37 - Jan 6 by exiledclaseboy |
Their insistence on conflating on field catastrophes with off field issues is really galling I agree. [Post edited 6 Jan 2018 18:43]
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They'll say anything and create any smokescreen to make this look like anything other than them reneging on a deal now that the club will all but likely lose it's Premiership status.
As I've said before, you can't fvcking believe a single word these Americans say. They're the most shameless and disingenuous liars I have ever seen. They've been lying and deceiving with impunity since day one. Even their very first public statements were lies, with Levien boasting in the first press conference after the takeover about how eager he was to spend, how how was going to invest to make us a "winning" team that could "compete with anyone," and how Swansea City were no longer going to be a selling or stepping stone club. I wish someone would confront that rat faced cvnt about those statements. | |
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| From The Trust on 19:02 - Jan 6 with 1517 views | majorraglan |
| From The Trust on 13:43 - Jan 6 by MoscowJack |
Is it possible that they've just thought "fcuk it, if they want a fight, we'll give them one" and will drain the Trust's £800k in legal fees over the next few years?
In almost every experience I've had with Americans, they love threatening court and know that they'll win 9/10 if they have significant more money than the people they're fighting. It might be different in UK, but I wouldn't be surprised if they could drain every penny from the Trust's account before a decision is even made.
One thing the Yanks are good at is winning legal battles. |
This for me would be a real concern and if I were the Trust I would look at exploring options around a potential a “No win no fee” type arrangement.
My take on this is that the new owners can see the writing on the wall and that the Championship is beckoning and they do not want to spend any more money. | | | |
| From The Trust on 22:40 - Jan 6 with 1359 views | Libertarian |
As a matter of interest, if the original vote went with Option 1 and Option 1 has been removed from the table, which choice in Option 2 had the next highest vote. Legal action, or carry on as we are?
I still find it amazing that only 51.1% of members bothered to vote. |  | | |
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