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What happened yesterday is actual embezzlement. 09:13 - Aug 10 with 3126 viewsomarjack

If it happened to any other business than owning a sport club, Kaplan and Levien would be serving up to 15 years in max security prison. But since it's a sport club they can always plead "selling assets for structuring reasons" bla bla bla..

But they won't get away with it this time.

Poll: England vs Croatia (who's going to win)

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What happened yesterday is actual embezzlement. on 09:21 - Aug 10 with 2058 viewsE20Jack

Isn’t a fire sale usual activity when a company is under major financial pressures then?

I don’t think you can go to prison for trying to financially steady a ship far too heavy for its waters.

Poll: 6 point deduction and sellouts lose all their cash?

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What happened yesterday is actual embezzlement. on 09:23 - Aug 10 with 2037 viewsChief

What happened yesterday is actual embezzlement. on 09:21 - Aug 10 by E20Jack

Isn’t a fire sale usual activity when a company is under major financial pressures then?

I don’t think you can go to prison for trying to financially steady a ship far too heavy for its waters.


So you're fine with all this then?

Poll: Rate the ref's performance today

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What happened yesterday is actual embezzlement. on 09:24 - Aug 10 with 2023 viewsTom1912

Come on, it's not embezzlement
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What happened yesterday is actual embezzlement. on 09:25 - Aug 10 with 2019 viewslonglostjack

What happened yesterday is actual embezzlement. on 09:21 - Aug 10 by E20Jack

Isn’t a fire sale usual activity when a company is under major financial pressures then?

I don’t think you can go to prison for trying to financially steady a ship far too heavy for its waters.


The ship is certainly top heavy and being navigated onto the rocks having been hijacked by a bunch of buffoons.

Poll: Have our US owners improved Swansea City Football Club?

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What happened yesterday is actual embezzlement. on 09:25 - Aug 10 with 2007 viewsE20Jack

What happened yesterday is actual embezzlement. on 09:23 - Aug 10 by Chief

So you're fine with all this then?


Fine with what?

Reducing crippling costs? Certainly.

As you should be.

Poll: 6 point deduction and sellouts lose all their cash?

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What happened yesterday is actual embezzlement. on 09:27 - Aug 10 with 1988 viewsomarjack

What happened yesterday is actual embezzlement. on 09:21 - Aug 10 by E20Jack

Isn’t a fire sale usual activity when a company is under major financial pressures then?

I don’t think you can go to prison for trying to financially steady a ship far too heavy for its waters.


Swallowing assets the way the Americans did is illegal..if it wasn't a sports business just imagine how crazy it'd be.

Imagine if they bought a clothing company for 500 millions..They had many assets and buildings and shops etc..They put them all for sale in the 1st year..taking in over 750 m without investing a cent to improve the company..then sell the shell of the clothing company for extra few millions and voila..the company's finished.

They would be in a court of law right now..it's not a joke.

Poll: England vs Croatia (who's going to win)

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What happened yesterday is actual embezzlement. on 09:27 - Aug 10 with 1975 viewsE20Jack

What happened yesterday is actual embezzlement. on 09:25 - Aug 10 by longlostjack

The ship is certainly top heavy and being navigated onto the rocks having been hijacked by a bunch of buffoons.


Navigated away from the rocks is probably more accurate.

We were unsustainable. Had to be done.

That’s the reality of relegation after such a long period there when income is so minimal. We are a very small club that was almost entirely reliant on the PL money.

Poll: 6 point deduction and sellouts lose all their cash?

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What happened yesterday is actual embezzlement. on 09:34 - Aug 10 with 1932 viewsThornburyswan

No it isn't - all that happened yesterday was that the owners converted assets (players) into cash, provided that cash is used legitimately within the business e.g. pay off debt, buy other assets, build a cash pot etc there is no offence.

That will include payment of dividend to the shareholders at the appropriate time - although that would be a tad bold right now.

We might not like it but they are business people NOT fans.
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What happened yesterday is actual embezzlement. on 09:36 - Aug 10 with 1907 viewsKrisP

What happened yesterday is actual embezzlement. on 09:27 - Aug 10 by omarjack

Swallowing assets the way the Americans did is illegal..if it wasn't a sports business just imagine how crazy it'd be.

Imagine if they bought a clothing company for 500 millions..They had many assets and buildings and shops etc..They put them all for sale in the 1st year..taking in over 750 m without investing a cent to improve the company..then sell the shell of the clothing company for extra few millions and voila..the company's finished.

They would be in a court of law right now..it's not a joke.


What would be illegal about a clothing company legally selling their assets taking the money and closing down?
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What happened yesterday is actual embezzlement. on 09:37 - Aug 10 with 1893 viewsomarjack

What happened yesterday is actual embezzlement. on 09:36 - Aug 10 by KrisP

What would be illegal about a clothing company legally selling their assets taking the money and closing down?


Taking over a business..only to sell it's assets for a bit larger profit then shut it down is illegal.

Poll: England vs Croatia (who's going to win)

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What happened yesterday is actual embezzlement. on 09:38 - Aug 10 with 1882 viewslonglostjack

What happened yesterday is actual embezzlement. on 09:27 - Aug 10 by E20Jack

Navigated away from the rocks is probably more accurate.

We were unsustainable. Had to be done.

That’s the reality of relegation after such a long period there when income is so minimal. We are a very small club that was almost entirely reliant on the PL money.


Correction. It’s the reality of complete mismanagement over the last 3 years. Will the directors take a salary cut? Or do you think their salaries are sustainable?

Poll: Have our US owners improved Swansea City Football Club?

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What happened yesterday is actual embezzlement. on 09:38 - Aug 10 with 1879 viewspeenemunde

What happened yesterday is actual embezzlement. on 09:27 - Aug 10 by omarjack

Swallowing assets the way the Americans did is illegal..if it wasn't a sports business just imagine how crazy it'd be.

Imagine if they bought a clothing company for 500 millions..They had many assets and buildings and shops etc..They put them all for sale in the 1st year..taking in over 750 m without investing a cent to improve the company..then sell the shell of the clothing company for extra few millions and voila..the company's finished.

They would be in a court of law right now..it's not a joke.


Go and report it to the police 🤣
Clueless.
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What happened yesterday is actual embezzlement. on 09:38 - Aug 10 with 1877 viewsNookiejack

The Trust now has to line up lawyers to ensure the Yanks don’t pay their offshore investment vehicle excessive management fees.
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What happened yesterday is actual embezzlement. on 09:39 - Aug 10 with 1865 viewsjackal

What happened yesterday is actual embezzlement. on 09:25 - Aug 10 by E20Jack

Fine with what?

Reducing crippling costs? Certainly.

As you should be.


Roll on Non- League then.

We'll have reduced all crippling costs.

You need to spend and fight to get back to the Prem. Last week at Sheffield showed that we can do it. One game, yes, but very promising.

Your plan? Get rid of all the players and carry on with the kids. Great way to success .I'm sure the fvcking Yanks will agree with you.
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What happened yesterday is actual embezzlement. on 09:42 - Aug 10 with 1837 viewsE20Jack

What happened yesterday is actual embezzlement. on 09:38 - Aug 10 by longlostjack

Correction. It’s the reality of complete mismanagement over the last 3 years. Will the directors take a salary cut? Or do you think their salaries are sustainable?


Not really mismanagement. Just a host of players that did not work out. That’s football. Thankfully we have had it good for a long time allowing us 7 years there, unthinkable success.

Yes I would certainly think they would take a pay cut.

Poll: 6 point deduction and sellouts lose all their cash?

1
What happened yesterday is actual embezzlement. on 09:42 - Aug 10 with 1841 viewsomarjack

What happened yesterday is actual embezzlement. on 09:38 - Aug 10 by peenemunde

Go and report it to the police 🤣
Clueless.


Dear Peenemunde.

I would have blocked you months ago..but then, Who would I have to laugh at when I'm bored?

Seeing your comments always gives me the boost I need..whenever life get hard..remember you're not an utter bellend like Penis-Mold.

Keep up the good work man..and amuse me.

Poll: England vs Croatia (who's going to win)

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What happened yesterday is actual embezzlement. on 09:44 - Aug 10 with 1822 viewsE20Jack

What happened yesterday is actual embezzlement. on 09:39 - Aug 10 by jackal

Roll on Non- League then.

We'll have reduced all crippling costs.

You need to spend and fight to get back to the Prem. Last week at Sheffield showed that we can do it. One game, yes, but very promising.

Your plan? Get rid of all the players and carry on with the kids. Great way to success .I'm sure the fvcking Yanks will agree with you.


The plan will be to steady the ship and build the team on a small budget, just like what happened to get us there initially.

Rome wasn’t built in a day.

To expect us to assemble such a side in one transfer window is a bit far fetched and unrealistic.

Poll: 6 point deduction and sellouts lose all their cash?

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What happened yesterday is actual embezzlement. on 09:47 - Aug 10 with 1810 viewsKrisP

What happened yesterday is actual embezzlement. on 09:37 - Aug 10 by omarjack

Taking over a business..only to sell it's assets for a bit larger profit then shut it down is illegal.


It really isn't. Look up asset stripping. Perfectly legal.
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What happened yesterday is actual embezzlement. on 09:49 - Aug 10 with 1780 viewspeenemunde

What happened yesterday is actual embezzlement. on 09:42 - Aug 10 by omarjack

Dear Peenemunde.

I would have blocked you months ago..but then, Who would I have to laugh at when I'm bored?

Seeing your comments always gives me the boost I need..whenever life get hard..remember you're not an utter bellend like Penis-Mold.

Keep up the good work man..and amuse me.


As long as I’m not you, I’m happy.
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What happened yesterday is actual embezzlement. on 09:58 - Aug 10 with 1701 viewsjackal

What happened yesterday is actual embezzlement. on 09:44 - Aug 10 by E20Jack

The plan will be to steady the ship and build the team on a small budget, just like what happened to get us there initially.

Rome wasn’t built in a day.

To expect us to assemble such a side in one transfer window is a bit far fetched and unrealistic.


Steady the ship? Yes.

Sink the ship? No.

Do you really think that yesterday's complete shambles is good for the club?

We should be aiming for the Prem not League 1.
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What happened yesterday is actual embezzlement. on 10:05 - Aug 10 with 1633 viewsE20Jack

What happened yesterday is actual embezzlement. on 09:58 - Aug 10 by jackal

Steady the ship? Yes.

Sink the ship? No.

Do you really think that yesterday's complete shambles is good for the club?

We should be aiming for the Prem not League 1.


Yes I do.

There is no indication that after yesterday our club will be “sunk”.

We sold one player that featured last week. One.

Poll: 6 point deduction and sellouts lose all their cash?

0
What happened yesterday is actual embezzlement. on 10:12 - Aug 10 with 1591 viewsjackal

What happened yesterday is actual embezzlement. on 10:05 - Aug 10 by E20Jack

Yes I do.

There is no indication that after yesterday our club will be “sunk”.

We sold one player that featured last week. One.


Yes and that player was half of our entire centre back quota. We also old our only centre back backup.

You claim that yesterday was good for the club. The only people it was good for are the fvcking Yanks.

I can't believe that anyone who loves our club can be pleased with the situation.
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What happened yesterday is actual embezzlement. on 10:15 - Aug 10 with 1566 viewsAlfieMooresSon

What happened yesterday is actual embezzlement. on 09:38 - Aug 10 by longlostjack

Correction. It’s the reality of complete mismanagement over the last 3 years. Will the directors take a salary cut? Or do you think their salaries are sustainable?



All they are doing is running a business like any other, obviously, they are not a charity and would like to make a profit on their investment.
[Post edited 10 Aug 12:03]
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What happened yesterday is actual embezzlement. on 10:17 - Aug 10 with 1551 viewsAlfieMooresSon

What happened yesterday is actual embezzlement. on 09:38 - Aug 10 by Nookiejack

The Trust now has to line up lawyers to ensure the Yanks don’t pay their offshore investment vehicle excessive management fees.


It's their business, they can do what they want with it, just because you shop in Next, you can't tell them how to run it and what clothes to buy !!!
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What happened yesterday is actual embezzlement. on 10:21 - Aug 10 with 1514 viewsjacksfullaces

rather than too many histrionics about current (in)activity, my question would more be what benefits the original sale actually has to the development/next level etc of the football club?

if it was simply about finding a prudent set of investors that would ensure we ran a sustainable (and by definition of our size low budget) ship (and still find ways for them to provide some sort of return to their group) then am guessing the fanfare from jenkins and co at point of sale might have been a little more muted.

sense the sellers our end raised the expectations, and the difficulty in swallowing that may be evidenced in some of the posts today. wondering if there would have been a better ownership group either last season or indeed now that might have provided an alternative strategy during the last few transfer windows/seasons.

yes, we are where we are etc doesn't stop those been angry in considering whether we could be where we are with a different set of owners - possibly better? and I guess by definition, possibly worse? I like to think there were better options out there though, and perhaps jenkins and co could have done more, so a pretty reasonable reaction to think it best if he were not there now.

every chance that as a club we will be run sensibly, no guarantees on the pitch, there never are .. sense we won't hear too much from the US now unless we make that unlikely second coming. perhaps this wouldn't have been the reason they invested either, but guess from their perspective now we are mothballed unless history manages to repeat itself?
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