Town board will meet to discuss financial restructure

The Wiltshire Gazette and Herald: Major shareholder Andrew Black is not keen to pump money into the club indefinitely Major shareholder Andrew Black is not keen to pump money into the club indefinitely

SWINDON Town are considering the possibility of entering administration, the Advertiser understands.

Majority shareholder Andrew Black is not keeen to pump any further funds into the club and is currently seeking alternative investment, with potential new owners lined up.

Should a takeover not be forthcoming, however, it is possible that the Robins could enter administration for the third time this century, as the club looks to financially restructure.

Neither Black nor chairman Sir William Patey has been available to speak to the Advertiser in recent weeks, as they look to secure Town's future.

Former chairman Jeremy Wray, speaking this morning, said he would be surprised if the board opted for administration and the ten-point deduction that woul incur under Football League rules.

"That is the last thing they would want to do I would have thought."

The club's board is set to meet on Saturday to discuss the prospect of a financial restructure. It is understood the board may appoint adminstrators to undertake the restructure.

The club owes around £13 million to its owners and has a monthly wage bill thought to be around £250,000.

Mr Wray said the budget for the season had been agreed with Mr Black and money had been set aside for the January transfer window, should the club be in the play-off places.

"That money may have been reduced," said Mr Wray. "If Mr Black has changed his position then the club has to respect that."

He said Mr Black's decision was unlikely to mean he wants to withdraw funding immediately. He said it was liekly the club will need to prepare a pathway for that.

"There are people willing to invest in the club, it is in a good position and it has a very saleable asset in the manager Paolo Di Canio," he said.

Speaking this morning chairman Sir William Patey stopped short of ruling out administration, but did confirm the club is bringing in professional support to help with any potential sale.

“Andrew Black has made it clear he is looking for new investors and new owners, and that has gathered a great deal of interest by trying to do that and we have had positive discussions and we are encouraged by the detail," he said.

“It is much better to sell the club in its current state where it’s gunning for promotion with a good squad of players, and we want to attract new owners by showing off Swindon to be a club with potential.

“We are going to bring in some professionals who know football, because buyers want to go through details like financial forecasting which clubs don’t keep on a day to day basis and it will enable us to go through due diligence.

“There is no 10 point penalty (which could be applied if Town did go into administration) if we sell the club, so people are getting a little ahead of themselves.”

More to follow.

Comments (140)

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7:42am Thu 17 Jan 13

Since 1950 says...

W.T.F?
W.T.F? Since 1950

7:43am Thu 17 Jan 13

Go on Don! says...

Nooooooooooooooooooo
oooooooooo!
Nooooooooooooooooooo oooooooooo! Go on Don!

7:43am Thu 17 Jan 13

Since 1950 says...

So, we were all being irrational then Sam?
So, we were all being irrational then Sam? Since 1950

7:50am Thu 17 Jan 13

Dynamic Des says...

Just when things are going so well, this bombshell. I suppose it has been on the cards what with the new chairman coming in. The best thing is to fill the county ground this Saturday to show any potential investors that we the supporters are behind our club and believe in what Paolo is doing. Not a good start to my day reading that headline, that's for sure :-(
Just when things are going so well, this bombshell. I suppose it has been on the cards what with the new chairman coming in. The best thing is to fill the county ground this Saturday to show any potential investors that we the supporters are behind our club and believe in what Paolo is doing. Not a good start to my day reading that headline, that's for sure :-( Dynamic Des

7:53am Thu 17 Jan 13

mallorca says...

Alas all the B/S mega rich Board etc,where are they now.
We get good gates however guess our wage bill must be sky high,no wonder nobody wants to leave.I guess a few will jump ship now.
So just maybe a few will now leave however will be a dip in the ocean by the sounds of it.
Funny after the Chairmans interview when he skipped over the question of administration it made e wonder.
Still let's hope we can get decent investors and get back to FOOTBALL.
When AF and JW were no longer here again I think a few of us had there doubts
So anyone have any ideas who investors could be would be great if AF and JW could be part of the new investors or I am I hoping for to much
Appears yet another bad day for the Town
One point now that this has been mentioned if it doe happen it will be quick
Where does this leave Pdc and the Big Earners??????
Alas all the B/S mega rich Board etc,where are they now. We get good gates however guess our wage bill must be sky high,no wonder nobody wants to leave.I guess a few will jump ship now. So just maybe a few will now leave however will be a dip in the ocean by the sounds of it. Funny after the Chairmans interview when he skipped over the question of administration it made e wonder. Still let's hope we can get decent investors and get back to FOOTBALL. When AF and JW were no longer here again I think a few of us had there doubts So anyone have any ideas who investors could be would be great if AF and JW could be part of the new investors or I am I hoping for to much Appears yet another bad day for the Town One point now that this has been mentioned if it doe happen it will be quick Where does this leave Pdc and the Big Earners?????? mallorca

7:54am Thu 17 Jan 13

southside7 says...

Why is this not a headline?
Why is this not a headline? southside7

7:55am Thu 17 Jan 13

Red-in-exile says...

Bleurgh.
Not nice reading on a Thursday.
Hope Paolo and the players can keep their head out of it as much as possible, but surely that's the same as trying to stop Paolo running onto Northampton's pitch...no going to happen ;)
Bleurgh. Not nice reading on a Thursday. Hope Paolo and the players can keep their head out of it as much as possible, but surely that's the same as trying to stop Paolo running onto Northampton's pitch...no going to happen ;) Red-in-exile

8:00am Thu 17 Jan 13

dreamofacleansheet2 says...

I suggest joining the trust and turning out on Saturday. I also guess its probably Black negotiating again but not a good read first thing in the am.
I suggest joining the trust and turning out on Saturday. I also guess its probably Black negotiating again but not a good read first thing in the am. dreamofacleansheet2

8:01am Thu 17 Jan 13

Stroud STFC says...

Always worried about the unpaid (& growing) debt but hoped it wouldn't come to this. Just gutted that when things were coming together on the pitch & this hits us, its hard being a Swindon fan...
Always worried about the unpaid (& growing) debt but hoped it wouldn't come to this. Just gutted that when things were coming together on the pitch & this hits us, its hard being a Swindon fan... Stroud STFC

8:01am Thu 17 Jan 13

LegendSTFC says...

Apparently we are £13m in debt (bbc sport). Entering administration would wipe out £9m, so we are then looking at the prospect of selling the likes of Wes, Ferry, Ritchie, Devera etc...

There will be a meeting on Saturday about new investors.

Lets hope it gets sorted soon.

STFC
Apparently we are £13m in debt (bbc sport). Entering administration would wipe out £9m, so we are then looking at the prospect of selling the likes of Wes, Ferry, Ritchie, Devera etc... There will be a meeting on Saturday about new investors. Lets hope it gets sorted soon. STFC LegendSTFC

8:03am Thu 17 Jan 13

hg191a says...

ridicolous i was under the assumption we were fianacially safe i dont understand why this story has come out surely a club in the championship with di canio at the helm is easier to sell than a club with 10 points docked no manager no ritchie williams ferry foderingham collins etc just hope the players can keep there heads with 4 tricky away games coming up this was not the best time to release the story well done to all involved
ridicolous i was under the assumption we were fianacially safe i dont understand why this story has come out surely a club in the championship with di canio at the helm is easier to sell than a club with 10 points docked no manager no ritchie williams ferry foderingham collins etc just hope the players can keep there heads with 4 tricky away games coming up this was not the best time to release the story well done to all involved hg191a

8:04am Thu 17 Jan 13

who am i says...

Since 1950 wrote:
So, we were all being irrational then Sam?
Totally agree. It wasn't that long ago that Sam was being patronising and telling everybody that they were being irrational. Just goes to show that Sam hasn't got his finger on the pulse after all. All them promises by fitton that this club was finally living within its means. I can remember him on radio five saying how well this club was being run he actually went on too say that we was only one of a few that was. Hmm dark days weeks head. Never a dull moment with town. Apparently there are buyers for the club but most of them want debts wiped out with administration. Pdc ain't going to put up with this and who can blame him but of course the club is always bigger than one individual. We will now possibly see how much Stfc is dear to pdc heart. Oh well much more important things in life as I have found out just recently.
[quote][p][bold]Since 1950[/bold] wrote: So, we were all being irrational then Sam?[/p][/quote]Totally agree. It wasn't that long ago that Sam was being patronising and telling everybody that they were being irrational. Just goes to show that Sam hasn't got his finger on the pulse after all. All them promises by fitton that this club was finally living within its means. I can remember him on radio five saying how well this club was being run he actually went on too say that we was only one of a few that was. Hmm dark days weeks head. Never a dull moment with town. Apparently there are buyers for the club but most of them want debts wiped out with administration. Pdc ain't going to put up with this and who can blame him but of course the club is always bigger than one individual. We will now possibly see how much Stfc is dear to pdc heart. Oh well much more important things in life as I have found out just recently. who am i

8:05am Thu 17 Jan 13

BigCrompy says...

Hang on...stop the press...

Swindling assemble a team with money they don't actually have and win the league title whilst all others keep to the rules? That's called cheating, isn't it? But surely - that's never happened before, has it?

Apart from that other time, obviously.

I'm perfectly sure they'll have the common decency to hand their ill-gotten, undeserved prize back though.
Hang on...stop the press... Swindling assemble a team with money they don't actually have and win the league title whilst all others keep to the rules? That's called cheating, isn't it? But surely - that's never happened before, has it? Apart from that other time, obviously. I'm perfectly sure they'll have the common decency to hand their ill-gotten, undeserved prize back though. BigCrompy

8:08am Thu 17 Jan 13

TenerifeRed says...

Neither of them have been available to comment?
So where has this information come from?
-10 points would be disastrous for our promotion prospects at this stage of the season and I'm sure AB must realise that.
I hope I don't have to write off the 4 figure bet on us winning the league again this year.
Neither of them have been available to comment? So where has this information come from? -10 points would be disastrous for our promotion prospects at this stage of the season and I'm sure AB must realise that. I hope I don't have to write off the 4 figure bet on us winning the league again this year. TenerifeRed

8:10am Thu 17 Jan 13

peatmoor pirate says...

Time for calm heads but this is so worrying. I think we will be hit hard by the Football League if we do go into adinistration for the third time. It could be construed we have bought L2 title last year etc and it would be ard to argue with this.
Has anyone else been int Administration three times? - Plymouth/ Pompey maybe. Look where they are now.
This was also so unnecessary, we were on the very brink of extinction a few years ago and thendbts were sorted out. Getting back into this state was not worth winning L2 as apparently a "wealthy club".
Time for calm heads but this is so worrying. I think we will be hit hard by the Football League if we do go into adinistration for the third time. It could be construed we have bought L2 title last year etc and it would be ard to argue with this. Has anyone else been int Administration three times? - Plymouth/ Pompey maybe. Look where they are now. This was also so unnecessary, we were on the very brink of extinction a few years ago and thendbts were sorted out. Getting back into this state was not worth winning L2 as apparently a "wealthy club". peatmoor pirate

8:17am Thu 17 Jan 13

Stickshaker says...

BigCrompy wrote:
Hang on...stop the press... Swindling assemble a team with money they don't actually have and win the league title whilst all others keep to the rules? That's called cheating, isn't it? But surely - that's never happened before, has it? Apart from that other time, obviously. I'm perfectly sure they'll have the common decency to hand their ill-gotten, undeserved prize back though.
Thanks for the feedback BigCrappy, now feck off!
[quote][p][bold]BigCrompy[/bold] wrote: Hang on...stop the press... Swindling assemble a team with money they don't actually have and win the league title whilst all others keep to the rules? That's called cheating, isn't it? But surely - that's never happened before, has it? Apart from that other time, obviously. I'm perfectly sure they'll have the common decency to hand their ill-gotten, undeserved prize back though.[/p][/quote]Thanks for the feedback BigCrappy, now feck off! Stickshaker

8:17am Thu 17 Jan 13

The Rev W Pitt says...

I thought clubs couldn`t go into a third administration.

Can anyone confirm ?
I thought clubs couldn`t go into a third administration. Can anyone confirm ? The Rev W Pitt

8:19am Thu 17 Jan 13

old town robin says...

with £13 million debt I guess it will be the tax man once again who will be the first to lay claim to being paid. It does not surprise me to hear there is more going out than coming in. The £250k wage Bill a month adds up to £4 million a year and as our revenue from gates does not add up to much more than £2 million a year, the writing was on the wall that something has to give. I guess the alarm bells started ringing when Arab quit leaving Black to go it alone, I just hope we can get through until the end of this season without losing Paolo, points or players, but with a board meeting planned for Saturday it doesn't look good.
with £13 million debt I guess it will be the tax man once again who will be the first to lay claim to being paid. It does not surprise me to hear there is more going out than coming in. The £250k wage Bill a month adds up to £4 million a year and as our revenue from gates does not add up to much more than £2 million a year, the writing was on the wall that something has to give. I guess the alarm bells started ringing when Arab quit leaving Black to go it alone, I just hope we can get through until the end of this season without losing Paolo, points or players, but with a board meeting planned for Saturday it doesn't look good. old town robin

8:22am Thu 17 Jan 13

SAPFanSTFC says...

Since 1950 wrote:
So, we were all being irrational then Sam?
Yep - my thoughts exactly....hate to say it but it's even worse than 'I told you so!' ....Why does being a town fan never come easy!?
.
It all smelt very funny when he came in and as posted I knew we'd be looking for a new buyer for obvious reasons
....but I don't think anyone predicted this happening as like most I thought that we'd be safe for this season.
---.
We would be an attractive purchase in the current set-up (football wise) but I'm sorry to say that sadly we will be a far better prospect after entering administration and having the debts wiped off.
....
Andrew Black must have lost more than my interpretation of 60% of his share values if he is considering this easy route.
[quote][p][bold]Since 1950[/bold] wrote: So, we were all being irrational then Sam?[/p][/quote]Yep - my thoughts exactly....hate to say it but it's even worse than 'I told you so!' ....Why does being a town fan never come easy!? . It all smelt very funny when he came in and as posted I knew we'd be looking for a new buyer for obvious reasons ....but I don't think anyone predicted this happening as like most I thought that we'd be safe for this season. ---. We would be an attractive purchase in the current set-up (football wise) but I'm sorry to say that sadly we will be a far better prospect after entering administration and having the debts wiped off. .... Andrew Black must have lost more than my interpretation of 60% of his share values if he is considering this easy route. SAPFanSTFC

8:23am Thu 17 Jan 13

London Red says...

This doesn't make sense - 95% or more of our debt is to STFc Holdings and Interest Free loans to Andrew Black and Sir Martyn Arbib (£12m of the £13m)
.
So going into Administration surely will wipe out the amounts owed to them
.
So in effect Andrew Black loses his money!!
.
The only thing I can see driving this is potentially Fitton, Wray and Arbib have not been willing to restructure the finances of STFC Holdings
.
This move then wipes out the debt to them allowing a sale to go ahead as the debt is no longer there in the football club (or dramatically reduced)
.
Finance wise fine makes no odds to us fans really as it could all be background politics (the debt is the owners money not external creditors like last time)
.
However - if we get a points deduction then we are screwed as our likely assault on the title suddenly becomes mid-table obscurity
.
Worse still though is the long term damage - our reputation will be smashed and we will not attract good players anymore and the worse still the stay always will stay that and most likely grow in force
This doesn't make sense - 95% or more of our debt is to STFc Holdings and Interest Free loans to Andrew Black and Sir Martyn Arbib (£12m of the £13m) . So going into Administration surely will wipe out the amounts owed to them . So in effect Andrew Black loses his money!! . The only thing I can see driving this is potentially Fitton, Wray and Arbib have not been willing to restructure the finances of STFC Holdings . This move then wipes out the debt to them allowing a sale to go ahead as the debt is no longer there in the football club (or dramatically reduced) . Finance wise fine makes no odds to us fans really as it could all be background politics (the debt is the owners money not external creditors like last time) . However - if we get a points deduction then we are screwed as our likely assault on the title suddenly becomes mid-table obscurity . Worse still though is the long term damage - our reputation will be smashed and we will not attract good players anymore and the worse still the stay always will stay that and most likely grow in force London Red

8:29am Thu 17 Jan 13

SAPFanSTFC says...

The Rev W Pitt wrote:
I thought clubs couldn`t go into a third administration.

Can anyone confirm ?
I think Portsmouth are into their 3rd period of administration aren't they? (1998, 2010 and 2012) ....I think there is a time limit on the 3 times and you're out rule....I can't actually remember the year for our first time.
[quote][p][bold]The Rev W Pitt[/bold] wrote: I thought clubs couldn`t go into a third administration. Can anyone confirm ?[/p][/quote]I think Portsmouth are into their 3rd period of administration aren't they? (1998, 2010 and 2012) ....I think there is a time limit on the 3 times and you're out rule....I can't actually remember the year for our first time. SAPFanSTFC

8:31am Thu 17 Jan 13

N Smith says...

I am sure we can help out just sell Ritchie to us for a million and that will get you through.All joking apart down at Bmth we have gone through this several times and it's a nightmare for fans so good luck with it.ps Saturdays game was brilliant great advert for div 1 football.
I am sure we can help out just sell Ritchie to us for a million and that will get you through.All joking apart down at Bmth we have gone through this several times and it's a nightmare for fans so good luck with it.ps Saturdays game was brilliant great advert for div 1 football. N Smith

8:33am Thu 17 Jan 13

TheDukeOfBanbury says...

We need a statement for sure.....very worrying indeed with nothing coming out of the Club.
We need a statement for sure.....very worrying indeed with nothing coming out of the Club. TheDukeOfBanbury

8:34am Thu 17 Jan 13

hg191a says...

so frustrating
so frustrating hg191a

8:37am Thu 17 Jan 13

Wonder Strike says...

Sounds like a case of potential buyers wanting us on the cheap. Surely in their interests though to have us doing well with Di Canio, but I guess it costs more.
Sounds like a case of potential buyers wanting us on the cheap. Surely in their interests though to have us doing well with Di Canio, but I guess it costs more. Wonder Strike

8:37am Thu 17 Jan 13

jayden says...

London Red wrote:
This doesn't make sense - 95% or more of our debt is to STFc Holdings and Interest Free loans to Andrew Black and Sir Martyn Arbib (£12m of the £13m)
.
So going into Administration surely will wipe out the amounts owed to them
.
So in effect Andrew Black loses his money!!
.
The only thing I can see driving this is potentially Fitton, Wray and Arbib have not been willing to restructure the finances of STFC Holdings
.
This move then wipes out the debt to them allowing a sale to go ahead as the debt is no longer there in the football club (or dramatically reduced)
.
Finance wise fine makes no odds to us fans really as it could all be background politics (the debt is the owners money not external creditors like last time)
.
However - if we get a points deduction then we are screwed as our likely assault on the title suddenly becomes mid-table obscurity
.
Worse still though is the long term damage - our reputation will be smashed and we will not attract good players anymore and the worse still the stay always will stay that and most likely grow in force
Thanks lr i had been waiting for your post i cant see it myself either but who knows what is going on realy i will wait untill the board has spoken before getting to down about it.
[quote][p][bold]London Red[/bold] wrote: This doesn't make sense - 95% or more of our debt is to STFc Holdings and Interest Free loans to Andrew Black and Sir Martyn Arbib (£12m of the £13m) . So going into Administration surely will wipe out the amounts owed to them . So in effect Andrew Black loses his money!! . The only thing I can see driving this is potentially Fitton, Wray and Arbib have not been willing to restructure the finances of STFC Holdings . This move then wipes out the debt to them allowing a sale to go ahead as the debt is no longer there in the football club (or dramatically reduced) . Finance wise fine makes no odds to us fans really as it could all be background politics (the debt is the owners money not external creditors like last time) . However - if we get a points deduction then we are screwed as our likely assault on the title suddenly becomes mid-table obscurity . Worse still though is the long term damage - our reputation will be smashed and we will not attract good players anymore and the worse still the stay always will stay that and most likely grow in force[/p][/quote]Thanks lr i had been waiting for your post i cant see it myself either but who knows what is going on realy i will wait untill the board has spoken before getting to down about it. jayden

8:37am Thu 17 Jan 13

DansAFCB says...

He he he he!

Come on Matt come and join us come join us come on over here!

Can you hear Swindon sing no no!!!!!!

Sit down shut up! Great news, say goodbye to that arrogant fool di canio too! Made my day!!!!!
He he he he! Come on Matt come and join us come join us come on over here! Can you hear Swindon sing no no!!!!!! Sit down shut up! Great news, say goodbye to that arrogant fool di canio too! Made my day!!!!! DansAFCB

8:38am Thu 17 Jan 13

TelSTFC says...

Just when things are going so well. Typical Swindon been supporting the club for 36 years and now administration rears it ugly head once again.

I feel a bit cheated to be honest as a paying fan being told how the club was being run well and we had no large debts?

But I also have to also thank Andrew Black & co for saving us but please don't put the club in administration after all the hard work that Paolo has done since his reign.

I hope new buyers can be found without entering administration but with the large debt again i doubt this will happen :(

I actually live in Portsmouth and travel back to watch the team every home game. Have great sympathy for the poor pompey fans down here.
Think we could be going through the same as them soon not good.

Yes fill the ground on Saturday and we do need to make our voices heard also.
Thought the days of administration were behind us with our rich backers but it seems like we have been fed alot of crap again.

Sorry but this is how i feel at the moment but still love my club.
Just when things are going so well. Typical Swindon been supporting the club for 36 years and now administration rears it ugly head once again. I feel a bit cheated to be honest as a paying fan being told how the club was being run well and we had no large debts? But I also have to also thank Andrew Black & co for saving us but please don't put the club in administration after all the hard work that Paolo has done since his reign. I hope new buyers can be found without entering administration but with the large debt again i doubt this will happen :( I actually live in Portsmouth and travel back to watch the team every home game. Have great sympathy for the poor pompey fans down here. Think we could be going through the same as them soon not good. Yes fill the ground on Saturday and we do need to make our voices heard also. Thought the days of administration were behind us with our rich backers but it seems like we have been fed alot of crap again. Sorry but this is how i feel at the moment but still love my club. TelSTFC

8:39am Thu 17 Jan 13

Is that you Lovesey says...

I think this is a threat that has been leaked to pressure Fitton and any other shareholder of STFC Holdings to consider the equity proposals put to them some time ago by Black and Patey, probably had something to do with why Jwray didn't want to stay...

Bubbles always burst, some just last longer than others.....
I think this is a threat that has been leaked to pressure Fitton and any other shareholder of STFC Holdings to consider the equity proposals put to them some time ago by Black and Patey, probably had something to do with why Jwray didn't want to stay... Bubbles always burst, some just last longer than others..... Is that you Lovesey

8:39am Thu 17 Jan 13

LeGod says...

what the hell is going on just when things are going well we always get brought down to earth with a massive negative.

I thought with the new Directors when they took over werent going to let this happen again.

I think if we do go into administration they will hit us with a bigger points deduction than 10 points.

Totally P****D me off reading this.
what the hell is going on just when things are going well we always get brought down to earth with a massive negative. I thought with the new Directors when they took over werent going to let this happen again. I think if we do go into administration they will hit us with a bigger points deduction than 10 points. Totally P****D me off reading this. LeGod

8:40am Thu 17 Jan 13

SAPFanSTFC says...

London Red wrote:
This doesn't make sense - 95% or more of our debt is to STFc Holdings and Interest Free loans to Andrew Black and Sir Martyn Arbib (£12m of the £13m)
.
So going into Administration surely will wipe out the amounts owed to them
.
So in effect Andrew Black loses his money!!
.
The only thing I can see driving this is potentially Fitton, Wray and Arbib have not been willing to restructure the finances of STFC Holdings
.
This move then wipes out the debt to them allowing a sale to go ahead as the debt is no longer there in the football club (or dramatically reduced)
.
Finance wise fine makes no odds to us fans really as it could all be background politics (the debt is the owners money not external creditors like last time)
.
However - if we get a points deduction then we are screwed as our likely assault on the title suddenly becomes mid-table obscurity
.
Worse still though is the long term damage - our reputation will be smashed and we will not attract good players anymore and the worse still the stay always will stay that and most likely grow in force
Hi LR, Like you it didn't make sense to me initially but as you say this all goes back to the politics behind the whole Wray - Patey saga and squabbling in the background.
---.
Could it be - Black writes his debt off if everyone else does but Wray and co are not willing to hand over a debt free club to Black for him to sell for personal gain.....as a result Black threatens administration which will basically mean everyone loses their money anyway.
---.
Biting noses off to spite faces doesn't make sense but this could be the only quick way out for Black...so much for Patey's contacts!...
---.
How much has Patey cost the club in his position?
[quote][p][bold]London Red[/bold] wrote: This doesn't make sense - 95% or more of our debt is to STFc Holdings and Interest Free loans to Andrew Black and Sir Martyn Arbib (£12m of the £13m) . So going into Administration surely will wipe out the amounts owed to them . So in effect Andrew Black loses his money!! . The only thing I can see driving this is potentially Fitton, Wray and Arbib have not been willing to restructure the finances of STFC Holdings . This move then wipes out the debt to them allowing a sale to go ahead as the debt is no longer there in the football club (or dramatically reduced) . Finance wise fine makes no odds to us fans really as it could all be background politics (the debt is the owners money not external creditors like last time) . However - if we get a points deduction then we are screwed as our likely assault on the title suddenly becomes mid-table obscurity . Worse still though is the long term damage - our reputation will be smashed and we will not attract good players anymore and the worse still the stay always will stay that and most likely grow in force[/p][/quote]Hi LR, Like you it didn't make sense to me initially but as you say this all goes back to the politics behind the whole Wray - Patey saga and squabbling in the background. ---. Could it be - Black writes his debt off if everyone else does but Wray and co are not willing to hand over a debt free club to Black for him to sell for personal gain.....as a result Black threatens administration which will basically mean everyone loses their money anyway. ---. Biting noses off to spite faces doesn't make sense but this could be the only quick way out for Black...so much for Patey's contacts!... ---. How much has Patey cost the club in his position? SAPFanSTFC

8:40am Thu 17 Jan 13

Pete Moor says...

Once in administration could be unlucky; twice is careless; three times is criminal.

The FA and Football League need to deal with serial administration with proper penalties. Where's the incentive for clubs to live within their means?
Once in administration could be unlucky; twice is careless; three times is criminal. The FA and Football League need to deal with serial administration with proper penalties. Where's the incentive for clubs to live within their means? Pete Moor

8:41am Thu 17 Jan 13

LegendSTFC says...

DansAFCB wrote:
He he he he! Come on Matt come and join us come join us come on over here! Can you hear Swindon sing no no!!!!!! Sit down shut up! Great news, say goodbye to that arrogant fool di canio too! Made my day!!!!!
Did you forget to take your Ritilin this morning?

How about you worry about your club and we worry about ours.
[quote][p][bold]DansAFCB[/bold] wrote: He he he he! Come on Matt come and join us come join us come on over here! Can you hear Swindon sing no no!!!!!! Sit down shut up! Great news, say goodbye to that arrogant fool di canio too! Made my day!!!!![/p][/quote]Did you forget to take your Ritilin this morning? How about you worry about your club and we worry about ours. LegendSTFC

8:49am Thu 17 Jan 13

Oldhamred says...

Whilst we all appreciate the past investment from AB, I for one WILL NOT be sorry to see him go.
His silence has been deafening in recent months when asked for any kind of comment regarding our club.
Apart from anything else this shows a complete lack of 'Good Manners' which in turn tells me that he has absolutely no respect for the supporters of STFC.
Patey was brought in to secure new owners or additional investment so should NOT bear the brunt of the fans anger as he was quite clearly only put in place to do the 'Dirty Work' of our esteemed owner.
Finally a message to Sam:
Time to 'UP YOUR GAME'....
WE WANT FACTS, NOT OPINION.
Whilst we all appreciate the past investment from AB, I for one WILL NOT be sorry to see him go. His silence has been deafening in recent months when asked for any kind of comment regarding our club. Apart from anything else this shows a complete lack of 'Good Manners' which in turn tells me that he has absolutely no respect for the supporters of STFC. Patey was brought in to secure new owners or additional investment so should NOT bear the brunt of the fans anger as he was quite clearly only put in place to do the 'Dirty Work' of our esteemed owner. Finally a message to Sam: Time to 'UP YOUR GAME'.... WE WANT FACTS, NOT OPINION. Oldhamred

8:51am Thu 17 Jan 13

SAPFanSTFC says...

LegendSTFC wrote:
DansAFCB wrote:
He he he he! Come on Matt come and join us come join us come on over here! Can you hear Swindon sing no no!!!!!! Sit down shut up! Great news, say goodbye to that arrogant fool di canio too! Made my day!!!!!
Did you forget to take your Ritilin this morning?

How about you worry about your club and we worry about ours.
Ignore them - no doubt there will be a load more of these sad muppets - as you say lets stick together and worry about our own club and ignore this sad misfit type.
---.
Sadly I don't think we'll get to fill the ground given the weather forecast...the pitch may be ok but the health and safety numpties will no doubt declare the surrounding area too dangerous for people....
- imagine if the shopping centres did this as well....sorry human beings haven't been around for long enough to cope with this strange white stuff called snow!
:-/
[quote][p][bold]LegendSTFC[/bold] wrote: [quote][p][bold]DansAFCB[/bold] wrote: He he he he! Come on Matt come and join us come join us come on over here! Can you hear Swindon sing no no!!!!!! Sit down shut up! Great news, say goodbye to that arrogant fool di canio too! Made my day!!!!![/p][/quote]Did you forget to take your Ritilin this morning? How about you worry about your club and we worry about ours.[/p][/quote]Ignore them - no doubt there will be a load more of these sad muppets - as you say lets stick together and worry about our own club and ignore this sad misfit type. ---. Sadly I don't think we'll get to fill the ground given the weather forecast...the pitch may be ok but the health and safety numpties will no doubt declare the surrounding area too dangerous for people.... - imagine if the shopping centres did this as well....sorry human beings haven't been around for long enough to cope with this strange white stuff called snow! :-/ SAPFanSTFC

8:55am Thu 17 Jan 13

Lambourn Red says...

In reality it would be suicidal for Black to put the club into admin and I think the chances of that happening are very slim. What is clearly evident is that he wants out after losing a lot of his net worth since the recession began and is not prepared to to keep writing off debt season on season.
The very odd thing for me is the timing of the leak with the playing side of the club looking like it has it's best chance of playing Championship football for 12 seasons you would have thought keeping this behind closed doors and getting promoted would make the club much more saleable. We can only hope that Patey has been working miracles in the background to secure a new owner and there are certainly rumblings that things could be in an advanced state with a potential buyer.
In reality it would be suicidal for Black to put the club into admin and I think the chances of that happening are very slim. What is clearly evident is that he wants out after losing a lot of his net worth since the recession began and is not prepared to to keep writing off debt season on season. The very odd thing for me is the timing of the leak with the playing side of the club looking like it has it's best chance of playing Championship football for 12 seasons you would have thought keeping this behind closed doors and getting promoted would make the club much more saleable. We can only hope that Patey has been working miracles in the background to secure a new owner and there are certainly rumblings that things could be in an advanced state with a potential buyer. Lambourn Red

8:59am Thu 17 Jan 13

eddyxx says...

This report is no more than a confirmation on the interview with bbc radio a few weeks ago, it is irresponsible and could undermine confidence of the manager and could actually damage what could be a successful season. its old news, seems like the board stitched up black and he alone has been putting his money in and with present circumstances you can not blame him for wanting to bail out.
This report is no more than a confirmation on the interview with bbc radio a few weeks ago, it is irresponsible and could undermine confidence of the manager and could actually damage what could be a successful season. its old news, seems like the board stitched up black and he alone has been putting his money in and with present circumstances you can not blame him for wanting to bail out. eddyxx

8:59am Thu 17 Jan 13

Blazing Riff says...

Since 1950 wrote:
W.T.F?
My immediate thought too.
[quote][p][bold]Since 1950[/bold] wrote: W.T.F?[/p][/quote]My immediate thought too. Blazing Riff

8:59am Thu 17 Jan 13

Lambourn Red says...

LegendSTFC wrote:
DansAFCB wrote:
He he he he! Come on Matt come and join us come join us come on over here! Can you hear Swindon sing no no!!!!!! Sit down shut up! Great news, say goodbye to that arrogant fool di canio too! Made my day!!!!!
Did you forget to take your Ritilin this morning?

How about you worry about your club and we worry about ours.
Ignore them what comes around goes around people in glass houses and all that
[quote][p][bold]LegendSTFC[/bold] wrote: [quote][p][bold]DansAFCB[/bold] wrote: He he he he! Come on Matt come and join us come join us come on over here! Can you hear Swindon sing no no!!!!!! Sit down shut up! Great news, say goodbye to that arrogant fool di canio too! Made my day!!!!![/p][/quote]Did you forget to take your Ritilin this morning? How about you worry about your club and we worry about ours.[/p][/quote]Ignore them what comes around goes around people in glass houses and all that Lambourn Red

9:02am Thu 17 Jan 13

Since 1950 says...

eddyxx wrote:
This report is no more than a confirmation on the interview with bbc radio a few weeks ago, it is irresponsible and could undermine confidence of the manager and could actually damage what could be a successful season. its old news, seems like the board stitched up black and he alone has been putting his money in and with present circumstances you can not blame him for wanting to bail out.
Yeah, I think we need to get a seasoned diplomat on board!
[quote][p][bold]eddyxx[/bold] wrote: This report is no more than a confirmation on the interview with bbc radio a few weeks ago, it is irresponsible and could undermine confidence of the manager and could actually damage what could be a successful season. its old news, seems like the board stitched up black and he alone has been putting his money in and with present circumstances you can not blame him for wanting to bail out.[/p][/quote]Yeah, I think we need to get a seasoned diplomat on board! Since 1950

9:04am Thu 17 Jan 13

mallorca says...

Oh we can Dream.Did like JW's article makes sense why would Mr Black put club into admin?????
no I know we are all feeling oh no notagain.But let's wait and see I just hope it can be resolved howevver this may alert all clubs that we are skint and certain bids we turned down we may should have taken.
No matter what am sure the supporters will continue to the end
Oh we can Dream.Did like JW's article makes sense why would Mr Black put club into admin????? no I know we are all feeling oh no notagain.But let's wait and see I just hope it can be resolved howevver this may alert all clubs that we are skint and certain bids we turned down we may should have taken. No matter what am sure the supporters will continue to the end mallorca

9:04am Thu 17 Jan 13

mallorca says...

Oh we can Dream.Did like JW's article makes sense why would Mr Black put club into admin?????
no I know we are all feeling oh no notagain.But let's wait and see I just hope it can be resolved howevver this may alert all clubs that we are skint and certain bids we turned down we may should have taken.
No matter what am sure the supporters will continue to the end
Oh we can Dream.Did like JW's article makes sense why would Mr Black put club into admin????? no I know we are all feeling oh no notagain.But let's wait and see I just hope it can be resolved howevver this may alert all clubs that we are skint and certain bids we turned down we may should have taken. No matter what am sure the supporters will continue to the end mallorca

9:08am Thu 17 Jan 13

LBUZZ CHERRY says...

Apologies for the idiot Bmth fan gloating above..we know what its like and hope you get it sorted.

God knows where our little venture will end, if it goes bits up, we are history - properly this time!
Apologies for the idiot Bmth fan gloating above..we know what its like and hope you get it sorted. God knows where our little venture will end, if it goes bits up, we are history - properly this time! LBUZZ CHERRY

9:09am Thu 17 Jan 13

We are PANTS says...

Time for all of the armchair supporters to don thier winter woolies. They must take thier share of the blame in all of this for sitting at home over the last couple of seasons. Considering what's been on show our crowds should be well above 10,000 EVERY week. I heard some tw#t say on the radio that he is not going to waste his money going for the rest of the season now!?! What sort of support is that?? Excuses, excuses every time!!Take a bow that person along with the other couple of thousand people who continue to stay away, you know who you are.
We need unity and bums on seats, NOW!!! Will we see you Saturday?
Sadly i cant see it happening and it will be left to us true Swindon Town fans to pick up the bits...............

These people are fantastic and i salute every single one!!!

COYR'sssssssssssss
Time for all of the armchair supporters to don thier winter woolies. They must take thier share of the blame in all of this for sitting at home over the last couple of seasons. Considering what's been on show our crowds should be well above 10,000 EVERY week. I heard some tw#t say on the radio that he is not going to waste his money going for the rest of the season now!?! What sort of support is that?? Excuses, excuses every time!!Take a bow that person along with the other couple of thousand people who continue to stay away, you know who you are. We need unity and bums on seats, NOW!!! Will we see you Saturday? Sadly i cant see it happening and it will be left to us true Swindon Town fans to pick up the bits............... These people are fantastic and i salute every single one!!! COYR'sssssssssssss We are PANTS

9:19am Thu 17 Jan 13

the don69 says...

There we have it!Why oh why do these kind of people buy Football clubs?just a on an ego trip,not really bothered about Swindon Town Football Club,all those who said,Fitton,Abib and Black saved our club,now we are back to where we started from!what we need are people who love our Football Club,just a bunch of jokers on an ego trip!I heard the rumours a while back,now it's confirmed,wish these ego-trippers would p1ss off now,lose all their money and we can start again!!!!!!!!!!
There we have it!Why oh why do these kind of people buy Football clubs?just a on an ego trip,not really bothered about Swindon Town Football Club,all those who said,Fitton,Abib and Black saved our club,now we are back to where we started from!what we need are people who love our Football Club,just a bunch of jokers on an ego trip!I heard the rumours a while back,now it's confirmed,wish these ego-trippers would p1ss off now,lose all their money and we can start again!!!!!!!!!! the don69

9:22am Thu 17 Jan 13

Oldhamred says...

the don69 wrote:
There we have it!Why oh why do these kind of people buy Football clubs?just a on an ego trip,not really bothered about Swindon Town Football Club,all those who said,Fitton,Abib and Black saved our club,now we are back to where we started from!what we need are people who love our Football Club,just a bunch of jokers on an ego trip!I heard the rumours a while back,now it's confirmed,wish these ego-trippers would p1ss off now,lose all their money and we can start again!!!!!!!!!!
With you all the way don.
The only one I don't blame is Patey.
[quote][p][bold]the don69[/bold] wrote: There we have it!Why oh why do these kind of people buy Football clubs?just a on an ego trip,not really bothered about Swindon Town Football Club,all those who said,Fitton,Abib and Black saved our club,now we are back to where we started from!what we need are people who love our Football Club,just a bunch of jokers on an ego trip!I heard the rumours a while back,now it's confirmed,wish these ego-trippers would p1ss off now,lose all their money and we can start again!!!!!!!!!![/p][/quote]With you all the way don. The only one I don't blame is Patey. Oldhamred

9:25am Thu 17 Jan 13

AFCBExile says...

I hate to see this at any club but is this a hollow threat and just a way of your Chairman trying to reign in di Canio? Reading the local paper it appears that he is never satisfied with his lot and forever wanting more players.

If the admin threat is true then it couldn't come at a worse time for the club with the January transfer window open. The vultures will come calling with ridiculous offers for players that are worth much more.

PS. Can we have Foderingham if it does go t*ts up for you. The best keeper that I have seen in L1 for years.
I hate to see this at any club but is this a hollow threat and just a way of your Chairman trying to reign in di Canio? Reading the local paper it appears that he is never satisfied with his lot and forever wanting more players. If the admin threat is true then it couldn't come at a worse time for the club with the January transfer window open. The vultures will come calling with ridiculous offers for players that are worth much more. PS. Can we have Foderingham if it does go t*ts up for you. The best keeper that I have seen in L1 for years. AFCBExile

9:28am Thu 17 Jan 13

StillPav says...

Who owns the County Ground?
Who owns the County Ground? StillPav

9:31am Thu 17 Jan 13

Stilloyal says...

So in the next couple of weeks we can probably say goodbye to Flint, Ritchie and a couple more maybe. The wage bill has to be reduced quite dramatically.
Administration is not an inevitability just a small possibility. We are still working within our budget according to J Wray . The problem is that the club was just a rich mans plaything and he has got fed up and wants a new toy ( not another footie club though ), He wants a new toy that will give him a quicker and better return on his investment.
There are potential buyers in the wings so hopefully a quick sale can be made but to the right people, ,that is crucial.
If we were to apply for administration again I doubt whether the powers to be would allow it and it would probably mean the end of STFC. that is the reality , sad isn't it !
So in the next couple of weeks we can probably say goodbye to Flint, Ritchie and a couple more maybe. The wage bill has to be reduced quite dramatically. Administration is not an inevitability just a small possibility. We are still working within our budget according to J Wray . The problem is that the club was just a rich mans plaything and he has got fed up and wants a new toy ( not another footie club though ), He wants a new toy that will give him a quicker and better return on his investment. There are potential buyers in the wings so hopefully a quick sale can be made but to the right people, ,that is crucial. If we were to apply for administration again I doubt whether the powers to be would allow it and it would probably mean the end of STFC. that is the reality , sad isn't it ! Stilloyal

9:33am Thu 17 Jan 13

oldlegtrailer says...

Paolo will be sold soon to raise the cash as will other valuable assetts. Its a failing business nothing more nothing less. The £250k monthly wage bill plus running costs kills the business. Wake up smell the roses its going nowhere!
Paolo will be sold soon to raise the cash as will other valuable assetts. Its a failing business nothing more nothing less. The £250k monthly wage bill plus running costs kills the business. Wake up smell the roses its going nowhere! oldlegtrailer

9:40am Thu 17 Jan 13

Custodian says...

This article disappoints me.

The subsequent comments from the harbingers of doom make me almost depressed.

Cheers everyone. See you all on Saturday.
This article disappoints me. The subsequent comments from the harbingers of doom make me almost depressed. Cheers everyone. See you all on Saturday. Custodian

9:44am Thu 17 Jan 13

billbst says...

Oh No not again was my reaction too. The dreaded word has appeared to be just below the surface for a while because Patey has made it clear that new owners were being sought. Although Sir Will put investors first in his early comments the order reversed last time around. The debt has been consolidated (stupid term) with the current owners (existing and ex-directors) so logic dictates that new owners will only step in after voluntary or administration driven write offs. Andrew Black is probably much more interested in his racing interests so I can see what he now wants to do. Criticising him is easy but he has continued to put his hand in his pocket. More to this story yet I think and maybe not all gloom.
Oh No not again was my reaction too. The dreaded word has appeared to be just below the surface for a while because Patey has made it clear that new owners were being sought. Although Sir Will put investors first in his early comments the order reversed last time around. The debt has been consolidated (stupid term) with the current owners (existing and ex-directors) so logic dictates that new owners will only step in after voluntary or administration driven write offs. Andrew Black is probably much more interested in his racing interests so I can see what he now wants to do. Criticising him is easy but he has continued to put his hand in his pocket. More to this story yet I think and maybe not all gloom. billbst

9:46am Thu 17 Jan 13

SAPFanSTFC says...

To quote one of our seasoned posters...
.
Onwards and Upwards!!
.
Stay warm everyone and watch out for that white stuff tomorrow!
To quote one of our seasoned posters... . Onwards and Upwards!! . Stay warm everyone and watch out for that white stuff tomorrow! SAPFanSTFC

9:47am Thu 17 Jan 13

mike1990 says...

Oldhamred wrote:
the don69 wrote:
There we have it!Why oh why do these kind of people buy Football clubs?just a on an ego trip,not really bothered about Swindon Town Football Club,all those who said,Fitton,Abib and Black saved our club,now we are back to where we started from!what we need are people who love our Football Club,just a bunch of jokers on an ego trip!I heard the rumours a while back,now it's confirmed,wish these ego-trippers would p1ss off now,lose all their money and we can start again!!!!!!!!!!
With you all the way don.
The only one I don't blame is Patey.
Black,Fitton and Abib thanks for nothing,hope you lot lose every penny of your money,now just go away and leave football clubs to those who love them,not just as play-things and then throw them away,feel very sad for PDC the players,but most of all our great FANS,we will survive.
[quote][p][bold]Oldhamred[/bold] wrote: [quote][p][bold]the don69[/bold] wrote: There we have it!Why oh why do these kind of people buy Football clubs?just a on an ego trip,not really bothered about Swindon Town Football Club,all those who said,Fitton,Abib and Black saved our club,now we are back to where we started from!what we need are people who love our Football Club,just a bunch of jokers on an ego trip!I heard the rumours a while back,now it's confirmed,wish these ego-trippers would p1ss off now,lose all their money and we can start again!!!!!!!!!![/p][/quote]With you all the way don. The only one I don't blame is Patey.[/p][/quote]Black,Fitton and Abib thanks for nothing,hope you lot lose every penny of your money,now just go away and leave football clubs to those who love them,not just as play-things and then throw them away,feel very sad for PDC the players,but most of all our great FANS,we will survive. mike1990

9:51am Thu 17 Jan 13

Wilesy says...

It does sound a bit like politics now Black wants to accelerate his get-out. Lets see how it develops but hopefully it is not a case of Black being so desparate to get out he's prepared to lose £x million through administration.

Not surprised though the debt has risen. Monthly wage bill not sustainable through the attendances. £250k a month on salaries does seem a lot at L1, but then the board could always have said no. Just what are Roberts, Miller, Navarro, Ritchie etc earning?

Can't see Paolo leaving at this stage over this as despite the board having the final say he has clearly had a lot of input into player recruitment and their wages. He will one day I am sure get a top job but to leave now would tarnish last year's achievements, already this morning the 'bought the title' brigade have come out from under their stones.
It does sound a bit like politics now Black wants to accelerate his get-out. Lets see how it develops but hopefully it is not a case of Black being so desparate to get out he's prepared to lose £x million through administration. Not surprised though the debt has risen. Monthly wage bill not sustainable through the attendances. £250k a month on salaries does seem a lot at L1, but then the board could always have said no. Just what are Roberts, Miller, Navarro, Ritchie etc earning? Can't see Paolo leaving at this stage over this as despite the board having the final say he has clearly had a lot of input into player recruitment and their wages. He will one day I am sure get a top job but to leave now would tarnish last year's achievements, already this morning the 'bought the title' brigade have come out from under their stones. Wilesy

9:58am Thu 17 Jan 13

ChrisWantageRed says...

It makes no sense for Black to even consider administration. Even if he sold the club "on the cheap" he's likely to get more back than if he were to put the club into admin. He's hardly going to want to settle for 3p in the pound surely?
It makes no sense for Black to even consider administration. Even if he sold the club "on the cheap" he's likely to get more back than if he were to put the club into admin. He's hardly going to want to settle for 3p in the pound surely? ChrisWantageRed

9:59am Thu 17 Jan 13

Stilloyal says...

mike1990 wrote:
Oldhamred wrote:
the don69 wrote: There we have it!Why oh why do these kind of people buy Football clubs?just a on an ego trip,not really bothered about Swindon Town Football Club,all those who said,Fitton,Abib and Black saved our club,now we are back to where we started from!what we need are people who love our Football Club,just a bunch of jokers on an ego trip!I heard the rumours a while back,now it's confirmed,wish these ego-trippers would p1ss off now,lose all their money and we can start again!!!!!!!!!!
With you all the way don. The only one I don't blame is Patey.
Black,Fitton and Abib thanks for nothing,hope you lot lose every penny of your money,now just go away and leave football clubs to those who love them,not just as play-things and then throw them away,feel very sad for PDC the players,but most of all our great FANS,we will survive.
Not very nice is it . Black and co have put in £13m, if anyone is to blame then it's the people of Swindon and district.
I'm not talking about the loyal 6 - 8 k that regularly turn up because we are a mere 3% of a potential support base.
I'm talking about the 97% that will now be saying "See I knew there was no point in supporting them, they're in trouble again " Reality is that the club need a base figure of 9.5 k fans to sustain our current position, more once we gain promotion to the Championship.
Come on people just another 1500 of you will see us out of trouble.
[quote][p][bold]mike1990[/bold] wrote: [quote][p][bold]Oldhamred[/bold] wrote: [quote][p][bold]the don69[/bold] wrote: There we have it!Why oh why do these kind of people buy Football clubs?just a on an ego trip,not really bothered about Swindon Town Football Club,all those who said,Fitton,Abib and Black saved our club,now we are back to where we started from!what we need are people who love our Football Club,just a bunch of jokers on an ego trip!I heard the rumours a while back,now it's confirmed,wish these ego-trippers would p1ss off now,lose all their money and we can start again!!!!!!!!!![/p][/quote]With you all the way don. The only one I don't blame is Patey.[/p][/quote]Black,Fitton and Abib thanks for nothing,hope you lot lose every penny of your money,now just go away and leave football clubs to those who love them,not just as play-things and then throw them away,feel very sad for PDC the players,but most of all our great FANS,we will survive.[/p][/quote]Not very nice is it . Black and co have put in £13m, if anyone is to blame then it's the people of Swindon and district. I'm not talking about the loyal 6 - 8 k that regularly turn up because we are a mere 3% of a potential support base. I'm talking about the 97% that will now be saying "See I knew there was no point in supporting them, they're in trouble again " Reality is that the club need a base figure of 9.5 k fans to sustain our current position, more once we gain promotion to the Championship. Come on people just another 1500 of you will see us out of trouble. Stilloyal

10:00am Thu 17 Jan 13

the wizard says...

Lots of very ill judged knee jerk reaction today.

Nothing has changed since Patey came here, in fact it may seem that potential investors have been found and they are looking for an in depth analysis of our accounts etc and how the club is financially set up.

The debt we have is very similar to man U and Chelski, the debt if any is what the club owes the owners, nothing more. The tax man and everyone else is paid up to date, and that was on the radio interviews this morning.

By putting the club in administration means those debts are wiped out and therefore the club becomes more attractive to incoming buyers and if sold as part and parcel of the deal, then we do not get a points deduction.
.
I think this has been on the cards since Wrays dismissal , and is the exact reason as to why Patey was brought in. Black can no longer afford to sustain the club at its
existing level, so we will know more after the board meeting on Saturday when who knows a potential investor may be announced. It sounds to me like they won't be going to all this trouble for nothing.
Lots of very ill judged knee jerk reaction today. Nothing has changed since Patey came here, in fact it may seem that potential investors have been found and they are looking for an in depth analysis of our accounts etc and how the club is financially set up. The debt we have is very similar to man U and Chelski, the debt if any is what the club owes the owners, nothing more. The tax man and everyone else is paid up to date, and that was on the radio interviews this morning. By putting the club in administration means those debts are wiped out and therefore the club becomes more attractive to incoming buyers and if sold as part and parcel of the deal, then we do not get a points deduction. . I think this has been on the cards since Wrays dismissal , and is the exact reason as to why Patey was brought in. Black can no longer afford to sustain the club at its existing level, so we will know more after the board meeting on Saturday when who knows a potential investor may be announced. It sounds to me like they won't be going to all this trouble for nothing. the wizard

10:04am Thu 17 Jan 13

Town Of The Future says...

BigCrompy wrote:
Hang on...stop the press...

Swindling assemble a team with money they don't actually have and win the league title whilst all others keep to the rules? That's called cheating, isn't it? But surely - that's never happened before, has it?

Apart from that other time, obviously.

I'm perfectly sure they'll have the common decency to hand their ill-gotten, undeserved prize back though.
How mis-informed! Did you not read the story? Nowhere does it say we spent money we dont have. Like you say there are rules which wouldn't of allowed us to do so. Most of the debt is owed to our owners, who inherited the debts of the previous board. Its nothing new. Basically they paid off the debts, and the clubs owes them. You cant tell me a league 1 side has spent £13m to win league two! Numpty.
Whilst not optimistic, this is another example of bad reporting by the adver, blowing it all out of proportion.
From the sounds of it, the administration would only be used to wipe out debts (owed to themselves) before the new owners take over, and not simply because we're going bust. Think about it, pump a little more in and then sell to recoup their cash, or let the club go into admin and receive a fraction of it back. Which do you think Andrew Black would prefer?
But i share the negativity of this over hyped and very badly timed story as my genuine worry is how Di Canio and team will react to it.
[quote][p][bold]BigCrompy[/bold] wrote: Hang on...stop the press... Swindling assemble a team with money they don't actually have and win the league title whilst all others keep to the rules? That's called cheating, isn't it? But surely - that's never happened before, has it? Apart from that other time, obviously. I'm perfectly sure they'll have the common decency to hand their ill-gotten, undeserved prize back though.[/p][/quote]How mis-informed! Did you not read the story? Nowhere does it say we spent money we dont have. Like you say there are rules which wouldn't of allowed us to do so. Most of the debt is owed to our owners, who inherited the debts of the previous board. Its nothing new. Basically they paid off the debts, and the clubs owes them. You cant tell me a league 1 side has spent £13m to win league two! Numpty. Whilst not optimistic, this is another example of bad reporting by the adver, blowing it all out of proportion. From the sounds of it, the administration would only be used to wipe out debts (owed to themselves) before the new owners take over, and not simply because we're going bust. Think about it, pump a little more in and then sell to recoup their cash, or let the club go into admin and receive a fraction of it back. Which do you think Andrew Black would prefer? But i share the negativity of this over hyped and very badly timed story as my genuine worry is how Di Canio and team will react to it. Town Of The Future

10:05am Thu 17 Jan 13

ChrisWantageRed says...

the wizard wrote:
Lots of very ill judged knee jerk reaction today. Nothing has changed since Patey came here, in fact it may seem that potential investors have been found and they are looking for an in depth analysis of our accounts etc and how the club is financially set up. The debt we have is very similar to man U and Chelski, the debt if any is what the club owes the owners, nothing more. The tax man and everyone else is paid up to date, and that was on the radio interviews this morning. By putting the club in administration means those debts are wiped out and therefore the club becomes more attractive to incoming buyers and if sold as part and parcel of the deal, then we do not get a points deduction. . I think this has been on the cards since Wrays dismissal , and is the exact reason as to why Patey was brought in. Black can no longer afford to sustain the club at its existing level, so we will know more after the board meeting on Saturday when who knows a potential investor may be announced. It sounds to me like they won't be going to all this trouble for nothing.
Wiz,

Thank you for this post. I actually did not understand that under certain circumstances it's possible we wouldn't get a points deduction. This eases my mind still further!
[quote][p][bold]the wizard[/bold] wrote: Lots of very ill judged knee jerk reaction today. Nothing has changed since Patey came here, in fact it may seem that potential investors have been found and they are looking for an in depth analysis of our accounts etc and how the club is financially set up. The debt we have is very similar to man U and Chelski, the debt if any is what the club owes the owners, nothing more. The tax man and everyone else is paid up to date, and that was on the radio interviews this morning. By putting the club in administration means those debts are wiped out and therefore the club becomes more attractive to incoming buyers and if sold as part and parcel of the deal, then we do not get a points deduction. . I think this has been on the cards since Wrays dismissal , and is the exact reason as to why Patey was brought in. Black can no longer afford to sustain the club at its existing level, so we will know more after the board meeting on Saturday when who knows a potential investor may be announced. It sounds to me like they won't be going to all this trouble for nothing.[/p][/quote]Wiz, Thank you for this post. I actually did not understand that under certain circumstances it's possible we wouldn't get a points deduction. This eases my mind still further! ChrisWantageRed

10:13am Thu 17 Jan 13

the wizard says...

ChrisWantageRed wrote:
the wizard wrote:
Lots of very ill judged knee jerk reaction today. Nothing has changed since Patey came here, in fact it may seem that potential investors have been found and they are looking for an in depth analysis of our accounts etc and how the club is financially set up. The debt we have is very similar to man U and Chelski, the debt if any is what the club owes the owners, nothing more. The tax man and everyone else is paid up to date, and that was on the radio interviews this morning. By putting the club in administration means those debts are wiped out and therefore the club becomes more attractive to incoming buyers and if sold as part and parcel of the deal, then we do not get a points deduction. . I think this has been on the cards since Wrays dismissal , and is the exact reason as to why Patey was brought in. Black can no longer afford to sustain the club at its existing level, so we will know more after the board meeting on Saturday when who knows a potential investor may be announced. It sounds to me like they won't be going to all this trouble for nothing.
Wiz,

Thank you for this post. I actually did not understand that under certain circumstances it's possible we wouldn't get a points deduction. This eases my mind still further!
The way I understand it is, on the day of the sale we enter admin, so all debts are cleared and then the new owners come in with their finance and take over a debt free club straight away, then that is ok, if it is part and parcel of the deal. I believe there are ways around it.

I'm only going on what I've been told by someone who is very hands on with this sort of finance, I hope he is not wrong, I'll wring his neck if he is!!
[quote][p][bold]ChrisWantageRed[/bold] wrote: [quote][p][bold]the wizard[/bold] wrote: Lots of very ill judged knee jerk reaction today. Nothing has changed since Patey came here, in fact it may seem that potential investors have been found and they are looking for an in depth analysis of our accounts etc and how the club is financially set up. The debt we have is very similar to man U and Chelski, the debt if any is what the club owes the owners, nothing more. The tax man and everyone else is paid up to date, and that was on the radio interviews this morning. By putting the club in administration means those debts are wiped out and therefore the club becomes more attractive to incoming buyers and if sold as part and parcel of the deal, then we do not get a points deduction. . I think this has been on the cards since Wrays dismissal , and is the exact reason as to why Patey was brought in. Black can no longer afford to sustain the club at its existing level, so we will know more after the board meeting on Saturday when who knows a potential investor may be announced. It sounds to me like they won't be going to all this trouble for nothing.[/p][/quote]Wiz, Thank you for this post. I actually did not understand that under certain circumstances it's possible we wouldn't get a points deduction. This eases my mind still further![/p][/quote]The way I understand it is, on the day of the sale we enter admin, so all debts are cleared and then the new owners come in with their finance and take over a debt free club straight away, then that is ok, if it is part and parcel of the deal. I believe there are ways around it. I'm only going on what I've been told by someone who is very hands on with this sort of finance, I hope he is not wrong, I'll wring his neck if he is!! the wizard

10:22am Thu 17 Jan 13

Town Of The Future says...

Well Said Wizard, is basically what i was trying to get across but your understandings said it better than me.
As mentioned above, Black will lose lots of money through Admin and if that came with a points deduction too, the club would be far less saleable than if we were on the verge of promotion. I too think this was the whole reason for Patey coming in.
Why would Black risk not being able to sell the club by screwing up our league position and risking the assets (players and manager) walking away because of it, when he could end up in the same financial position by voluntarily writing off most of the debt himself, but keep the squad and league position safe?
I'm sure any administration would just be a formality to enable a sale and not because we're about to go bust. All these **** from rival clubs coming on here, dont realise we're in no different a position than chelski and Man Utd, and as for the gimp from bournemuff, in no different a position than his own club. Your club simply owes its money to the owners, and after reading up on the Muff, they apparently still owe creditors too. Something the town do not!
But laugh all they like, i do believe this to be political restructuring, and not the doom and gloom administration we hear so much about. Surely the club cannot, and wont be penalised by the owners agreeing to write off debts to enable a sale to secure the club. It wouldn't make sense and would go against everything the football league put these rules in place for!
Well Said Wizard, is basically what i was trying to get across but your understandings said it better than me. As mentioned above, Black will lose lots of money through Admin and if that came with a points deduction too, the club would be far less saleable than if we were on the verge of promotion. I too think this was the whole reason for Patey coming in. Why would Black risk not being able to sell the club by screwing up our league position and risking the assets (players and manager) walking away because of it, when he could end up in the same financial position by voluntarily writing off most of the debt himself, but keep the squad and league position safe? I'm sure any administration would just be a formality to enable a sale and not because we're about to go bust. All these **** from rival clubs coming on here, dont realise we're in no different a position than chelski and Man Utd, and as for the gimp from bournemuff, in no different a position than his own club. Your club simply owes its money to the owners, and after reading up on the Muff, they apparently still owe creditors too. Something the town do not! But laugh all they like, i do believe this to be political restructuring, and not the doom and gloom administration we hear so much about. Surely the club cannot, and wont be penalised by the owners agreeing to write off debts to enable a sale to secure the club. It wouldn't make sense and would go against everything the football league put these rules in place for! Town Of The Future

10:23am Thu 17 Jan 13

The Rev W Pitt says...

" By putting the club in administration means those debts are wiped out and therefore the club becomes more attractive to incoming buyers and if sold as part and parcel of the deal, then we do not get a points deduction. "


Can`t believe this is correct. If you coud avoid a points deduction that easily every club would be doing it.
" By putting the club in administration means those debts are wiped out and therefore the club becomes more attractive to incoming buyers and if sold as part and parcel of the deal, then we do not get a points deduction. " Can`t believe this is correct. If you coud avoid a points deduction that easily every club would be doing it. The Rev W Pitt

10:28am Thu 17 Jan 13

The Jockster says...

StillPav wrote:
Who owns the County Ground?
doesn't every town fan know Swindon council own the CG it's been publicised enough over the years!
[quote][p][bold]StillPav[/bold] wrote: Who owns the County Ground?[/p][/quote]doesn't every town fan know Swindon council own the CG it's been publicised enough over the years! The Jockster

10:32am Thu 17 Jan 13

the wizard says...

The Rev W Pitt wrote:
" By putting the club in administration means those debts are wiped out and therefore the club becomes more attractive to incoming buyers and if sold as part and parcel of the deal, then we do not get a points deduction. "


Can`t believe this is correct. If you coud avoid a points deduction that easily every club would be doing it.
Read it again, if it is all done on the day, and the debts are wiped as the new guys buy then I don't think its a problem. The problem is if you go into admin and stay there for any period of time.
[quote][p][bold]The Rev W Pitt[/bold] wrote: " By putting the club in administration means those debts are wiped out and therefore the club becomes more attractive to incoming buyers and if sold as part and parcel of the deal, then we do not get a points deduction. " Can`t believe this is correct. If you coud avoid a points deduction that easily every club would be doing it.[/p][/quote]Read it again, if it is all done on the day, and the debts are wiped as the new guys buy then I don't think its a problem. The problem is if you go into admin and stay there for any period of time. the wizard

10:33am Thu 17 Jan 13

Oi Den! says...

All very disheartening but not at all surprising. Patey's evasiveness was a sure sign that something is wrong. £10m of debt is repayable this year and it seems those creditors (mainly Black?) don't want to extend the term.
I still wonder whether this all turns on the ground redevelopment - or lack of it. It's hard to see what other reason our "investors" had for getting into the club in the first place. They were never going to get their millions back from football operations. If the loans are repayable now and there is no longer any prospect of a property deal, maybe Black has decided that it's best to pull out now. I agree that administration seems an odd course though. However, if no new owner is forthcoming, I suppose it's the only option.
All very disheartening but not at all surprising. Patey's evasiveness was a sure sign that something is wrong. £10m of debt is repayable this year and it seems those creditors (mainly Black?) don't want to extend the term. I still wonder whether this all turns on the ground redevelopment - or lack of it. It's hard to see what other reason our "investors" had for getting into the club in the first place. They were never going to get their millions back from football operations. If the loans are repayable now and there is no longer any prospect of a property deal, maybe Black has decided that it's best to pull out now. I agree that administration seems an odd course though. However, if no new owner is forthcoming, I suppose it's the only option. Oi Den!

10:36am Thu 17 Jan 13

Stilloyal says...

The Rev W Pitt wrote:
" By putting the club in administration means those debts are wiped out and therefore the club becomes more attractive to incoming buyers and if sold as part and parcel of the deal, then we do not get a points deduction. " Can`t believe this is correct. If you coud avoid a points deduction that easily every club would be doing it.
THE CLUB IS NOT IN DEBT !
[quote][p][bold]The Rev W Pitt[/bold] wrote: " By putting the club in administration means those debts are wiped out and therefore the club becomes more attractive to incoming buyers and if sold as part and parcel of the deal, then we do not get a points deduction. " Can`t believe this is correct. If you coud avoid a points deduction that easily every club would be doing it.[/p][/quote]THE CLUB IS NOT IN DEBT ! Stilloyal

10:38am Thu 17 Jan 13

Oi Den! says...

Stilloyal wrote:
mike1990 wrote:
Oldhamred wrote:
the don69 wrote: There we have it!Why oh why do these kind of people buy Football clubs?just a on an ego trip,not really bothered about Swindon Town Football Club,all those who said,Fitton,Abib and Black saved our club,now we are back to where we started from!what we need are people who love our Football Club,just a bunch of jokers on an ego trip!I heard the rumours a while back,now it's confirmed,wish these ego-trippers would p1ss off now,lose all their money and we can start again!!!!!!!!!!
With you all the way don. The only one I don't blame is Patey.
Black,Fitton and Abib thanks for nothing,hope you lot lose every penny of your money,now just go away and leave football clubs to those who love them,not just as play-things and then throw them away,feel very sad for PDC the players,but most of all our great FANS,we will survive.
Not very nice is it . Black and co have put in £13m, if anyone is to blame then it's the people of Swindon and district. I'm not talking about the loyal 6 - 8 k that regularly turn up because we are a mere 3% of a potential support base. I'm talking about the 97% that will now be saying "See I knew there was no point in supporting them, they're in trouble again " Reality is that the club need a base figure of 9.5 k fans to sustain our current position, more once we gain promotion to the Championship. Come on people just another 1500 of you will see us out of trouble.
Good post Loyal, but the people you are trying to reach won't be reading this.
[quote][p][bold]Stilloyal[/bold] wrote: [quote][p][bold]mike1990[/bold] wrote: [quote][p][bold]Oldhamred[/bold] wrote: [quote][p][bold]the don69[/bold] wrote: There we have it!Why oh why do these kind of people buy Football clubs?just a on an ego trip,not really bothered about Swindon Town Football Club,all those who said,Fitton,Abib and Black saved our club,now we are back to where we started from!what we need are people who love our Football Club,just a bunch of jokers on an ego trip!I heard the rumours a while back,now it's confirmed,wish these ego-trippers would p1ss off now,lose all their money and we can start again!!!!!!!!!![/p][/quote]With you all the way don. The only one I don't blame is Patey.[/p][/quote]Black,Fitton and Abib thanks for nothing,hope you lot lose every penny of your money,now just go away and leave football clubs to those who love them,not just as play-things and then throw them away,feel very sad for PDC the players,but most of all our great FANS,we will survive.[/p][/quote]Not very nice is it . Black and co have put in £13m, if anyone is to blame then it's the people of Swindon and district. I'm not talking about the loyal 6 - 8 k that regularly turn up because we are a mere 3% of a potential support base. I'm talking about the 97% that will now be saying "See I knew there was no point in supporting them, they're in trouble again " Reality is that the club need a base figure of 9.5 k fans to sustain our current position, more once we gain promotion to the Championship. Come on people just another 1500 of you will see us out of trouble.[/p][/quote]Good post Loyal, but the people you are trying to reach won't be reading this. Oi Den!

11:05am Thu 17 Jan 13

SAPFanSTFC says...

the wizard wrote:
The Rev W Pitt wrote:
" By putting the club in administration means those debts are wiped out and therefore the club becomes more attractive to incoming buyers and if sold as part and parcel of the deal, then we do not get a points deduction. "


Can`t believe this is correct. If you coud avoid a points deduction that easily every club would be doing it.
Read it again, if it is all done on the day, and the debts are wiped as the new guys buy then I don't think its a problem. The problem is if you go into admin and stay there for any period of time.
Hi there Wiz, I'm really not sure how a club can wipe it's debts via Admin get sold AND avoid 10pts deduction - hope your mate is right but have to say I thought it was an automatic deduction at the point at which a club enters admin although it can be deferred until it leaves administration as per Pompey.
...
A club cannot be in administration for two years running either....not that this is going to be an issue to us I'd hope.
...
I'm looking forward ever hopeful to a clear announcement on Sunday and one that will not harm our promotion chances.
[quote][p][bold]the wizard[/bold] wrote: [quote][p][bold]The Rev W Pitt[/bold] wrote: " By putting the club in administration means those debts are wiped out and therefore the club becomes more attractive to incoming buyers and if sold as part and parcel of the deal, then we do not get a points deduction. " Can`t believe this is correct. If you coud avoid a points deduction that easily every club would be doing it.[/p][/quote]Read it again, if it is all done on the day, and the debts are wiped as the new guys buy then I don't think its a problem. The problem is if you go into admin and stay there for any period of time.[/p][/quote]Hi there Wiz, I'm really not sure how a club can wipe it's debts via Admin get sold AND avoid 10pts deduction - hope your mate is right but have to say I thought it was an automatic deduction at the point at which a club enters admin although it can be deferred until it leaves administration as per Pompey. ... A club cannot be in administration for two years running either....not that this is going to be an issue to us I'd hope. ... I'm looking forward ever hopeful to a clear announcement on Sunday and one that will not harm our promotion chances. SAPFanSTFC

11:13am Thu 17 Jan 13

TommyMooney says...

It's such a shame that Swindon intend to walk away from their debts again.

It's about time criminals like this football club were driven out of business with the ground bulldozed and all merchanise burnt.

If I had my way Swindon Town would also be purged from all historical records as everything they have ever achieved was paid for with stolen money.

The fans are mainly to blame too in encouraging the reckless spending in the first place. Season ticket holders should be traced and made to pay back every penny - it would only be about three and a half thousand pounds each - and then maybe next time when the board are on the fiddle they might do something instead of being a consenting party to criminality.
It's such a shame that Swindon intend to walk away from their debts again. It's about time criminals like this football club were driven out of business with the ground bulldozed and all merchanise burnt. If I had my way Swindon Town would also be purged from all historical records as everything they have ever achieved was paid for with stolen money. The fans are mainly to blame too in encouraging the reckless spending in the first place. Season ticket holders should be traced and made to pay back every penny - it would only be about three and a half thousand pounds each - and then maybe next time when the board are on the fiddle they might do something instead of being a consenting party to criminality. TommyMooney

11:15am Thu 17 Jan 13

the wizard says...

The general overall economic forecast for the whole of Europe over the next five years or so offers little hope of growth. That means that the pound in our pockets is going to be squeezed even more than it is now. The next five years offer little to investors such as Black. When you consider what is happening on the High St with business's closing down at an alarming rate it shows how well structured you have to be to survive. This is one of the reasons Honda has just shed labour, in order to be fiscally fit and ready for the upturn should it come. While the Fitton consortium had money at the beginning they also have all probably taken hits to their own wealth and in order to re invest in growing markets they have to re structure their own finances, and that is what has led to Blacks predicament
Although he looks wealthy to the likes of us, he also can see how easy it could be for his house of cards to topple. We need more than one Black, we need several, and each needs to have far deeper pockets. You cannot blame the man for protecting his own interests and looking to go forwards, our appreciation is well documented, but we need more in order to survive, and if it comes to it, to save the club I'll reluctantly take the hit and look forward to better times, surely that is better than the bickering of some.
The general overall economic forecast for the whole of Europe over the next five years or so offers little hope of growth. That means that the pound in our pockets is going to be squeezed even more than it is now. The next five years offer little to investors such as Black. When you consider what is happening on the High St with business's closing down at an alarming rate it shows how well structured you have to be to survive. This is one of the reasons Honda has just shed labour, in order to be fiscally fit and ready for the upturn should it come. While the Fitton consortium had money at the beginning they also have all probably taken hits to their own wealth and in order to re invest in growing markets they have to re structure their own finances, and that is what has led to Blacks predicament Although he looks wealthy to the likes of us, he also can see how easy it could be for his house of cards to topple. We need more than one Black, we need several, and each needs to have far deeper pockets. You cannot blame the man for protecting his own interests and looking to go forwards, our appreciation is well documented, but we need more in order to survive, and if it comes to it, to save the club I'll reluctantly take the hit and look forward to better times, surely that is better than the bickering of some. the wizard

11:29am Thu 17 Jan 13

BigCrompy says...

SAPFanSTFC wrote:
To quote one of our seasoned posters...
.
Onwards and Upwards!!
.
Stay warm everyone and watch out for that white stuff tomorrow!
That's probably pretty good advice.

I heard it could be minus ten.
[quote][p][bold]SAPFanSTFC[/bold] wrote: To quote one of our seasoned posters... . Onwards and Upwards!! . Stay warm everyone and watch out for that white stuff tomorrow![/p][/quote]That's probably pretty good advice. I heard it could be minus ten. BigCrompy

11:29am Thu 17 Jan 13

Blazing Riff says...

TommyMooney wrote:
It's such a shame that Swindon intend to walk away from their debts again.

It's about time criminals like this football club were driven out of business with the ground bulldozed and all merchanise burnt.

If I had my way Swindon Town would also be purged from all historical records as everything they have ever achieved was paid for with stolen money.

The fans are mainly to blame too in encouraging the reckless spending in the first place. Season ticket holders should be traced and made to pay back every penny - it would only be about three and a half thousand pounds each - and then maybe next time when the board are on the fiddle they might do something instead of being a consenting party to criminality.
Half wit!
[quote][p][bold]TommyMooney[/bold] wrote: It's such a shame that Swindon intend to walk away from their debts again. It's about time criminals like this football club were driven out of business with the ground bulldozed and all merchanise burnt. If I had my way Swindon Town would also be purged from all historical records as everything they have ever achieved was paid for with stolen money. The fans are mainly to blame too in encouraging the reckless spending in the first place. Season ticket holders should be traced and made to pay back every penny - it would only be about three and a half thousand pounds each - and then maybe next time when the board are on the fiddle they might do something instead of being a consenting party to criminality.[/p][/quote]Half wit! Blazing Riff

11:36am Thu 17 Jan 13

Pewsham Red says...

BigCrompy wrote:
Hang on...stop the press... Swindling assemble a team with money they don't actually have and win the league title whilst all others keep to the rules? That's called cheating, isn't it? But surely - that's never happened before, has it? Apart from that other time, obviously. I'm perfectly sure they'll have the common decency to hand their ill-gotten, undeserved prize back though.
Bell end!
[quote][p][bold]BigCrompy[/bold] wrote: Hang on...stop the press... Swindling assemble a team with money they don't actually have and win the league title whilst all others keep to the rules? That's called cheating, isn't it? But surely - that's never happened before, has it? Apart from that other time, obviously. I'm perfectly sure they'll have the common decency to hand their ill-gotten, undeserved prize back though.[/p][/quote]Bell end! Pewsham Red

11:38am Thu 17 Jan 13

Pewsham Red says...

DansAFCB wrote:
He he he he! Come on Matt come and join us come join us come on over here! Can you hear Swindon sing no no!!!!!! Sit down shut up! Great news, say goodbye to that arrogant fool di canio too! Made my day!!!!!
Well done mate, gloat all you like. No-one is going to be joining your tinpot little outfit. Matt Ritchie is far too god for your shower of ****.
[quote][p][bold]DansAFCB[/bold] wrote: He he he he! Come on Matt come and join us come join us come on over here! Can you hear Swindon sing no no!!!!!! Sit down shut up! Great news, say goodbye to that arrogant fool di canio too! Made my day!!!!![/p][/quote]Well done mate, gloat all you like. No-one is going to be joining your tinpot little outfit. Matt Ritchie is far too god for your shower of ****. Pewsham Red

11:45am Thu 17 Jan 13

ChrisWantageRed says...

We are PANTS wrote:
Time for all of the armchair supporters to don thier winter woolies. They must take thier share of the blame in all of this for sitting at home over the last couple of seasons. Considering what's been on show our crowds should be well above 10,000 EVERY week. I heard some tw#t say on the radio that he is not going to waste his money going for the rest of the season now!?! What sort of support is that?? Excuses, excuses every time!!Take a bow that person along with the other couple of thousand people who continue to stay away, you know who you are. We need unity and bums on seats, NOW!!! Will we see you Saturday? Sadly i cant see it happening and it will be left to us true Swindon Town fans to pick up the bits............... These people are fantastic and i salute every single one!!! COYR'sssssssssssss
Spot on mate...Our "potential investors" need to see exactly the kind of amazing support our club has. Scarves out Saturday!
[quote][p][bold]We are PANTS[/bold] wrote: Time for all of the armchair supporters to don thier winter woolies. They must take thier share of the blame in all of this for sitting at home over the last couple of seasons. Considering what's been on show our crowds should be well above 10,000 EVERY week. I heard some tw#t say on the radio that he is not going to waste his money going for the rest of the season now!?! What sort of support is that?? Excuses, excuses every time!!Take a bow that person along with the other couple of thousand people who continue to stay away, you know who you are. We need unity and bums on seats, NOW!!! Will we see you Saturday? Sadly i cant see it happening and it will be left to us true Swindon Town fans to pick up the bits............... These people are fantastic and i salute every single one!!! COYR'sssssssssssss[/p][/quote]Spot on mate...Our "potential investors" need to see exactly the kind of amazing support our club has. Scarves out Saturday! ChrisWantageRed

12:10pm Thu 17 Jan 13

Oldhamred says...

TommyMooney wrote:
It's such a shame that Swindon intend to walk away from their debts again. It's about time criminals like this football club were driven out of business with the ground bulldozed and all merchanise burnt. If I had my way Swindon Town would also be purged from all historical records as everything they have ever achieved was paid for with stolen money. The fans are mainly to blame too in encouraging the reckless spending in the first place. Season ticket holders should be traced and made to pay back every penny - it would only be about three and a half thousand pounds each - and then maybe next time when the board are on the fiddle they might do something instead of being a consenting party to criminality.
Seems theres a pox village missing its idiot
[quote][p][bold]TommyMooney[/bold] wrote: It's such a shame that Swindon intend to walk away from their debts again. It's about time criminals like this football club were driven out of business with the ground bulldozed and all merchanise burnt. If I had my way Swindon Town would also be purged from all historical records as everything they have ever achieved was paid for with stolen money. The fans are mainly to blame too in encouraging the reckless spending in the first place. Season ticket holders should be traced and made to pay back every penny - it would only be about three and a half thousand pounds each - and then maybe next time when the board are on the fiddle they might do something instead of being a consenting party to criminality.[/p][/quote]Seems theres a pox village missing its idiot Oldhamred

12:33pm Thu 17 Jan 13

AFCBLUKE says...

Hi, i will be gutted if all of this is true, even though i mad about AFCB we were in the same situation and it is not something that i'd wish on any supporters. the best thing for you guys to do is stick together get the crowds in. you have an amazing team (expensive but amazing quality) all you have to do is look at the quality of football that was played by both team at dean court to see that we should both be in the championship next season! chin up lads!
Hi, i will be gutted if all of this is true, even though i mad about AFCB we were in the same situation and it is not something that i'd wish on any supporters. the best thing for you guys to do is stick together get the crowds in. you have an amazing team (expensive but amazing quality) all you have to do is look at the quality of football that was played by both team at dean court to see that we should both be in the championship next season! chin up lads! AFCBLUKE

12:42pm Thu 17 Jan 13

TommyMooney says...

Oldhamred wrote:
TommyMooney wrote:
It's such a shame that Swindon intend to walk away from their debts again. It's about time criminals like this football club were driven out of business with the ground bulldozed and all merchanise burnt. If I had my way Swindon Town would also be purged from all historical records as everything they have ever achieved was paid for with stolen money. The fans are mainly to blame too in encouraging the reckless spending in the first place. Season ticket holders should be traced and made to pay back every penny - it would only be about three and a half thousand pounds each - and then maybe next time when the board are on the fiddle they might do something instead of being a consenting party to criminality.
Seems theres a pox village missing its idiot
Is this meant to be ironic? 'Seems theres'?

There are words missing from your comment and an apostrophe ought to be included too.

You can take the man out of Swindon Oldhamred but you can't etc.
[quote][p][bold]Oldhamred[/bold] wrote: [quote][p][bold]TommyMooney[/bold] wrote: It's such a shame that Swindon intend to walk away from their debts again. It's about time criminals like this football club were driven out of business with the ground bulldozed and all merchanise burnt. If I had my way Swindon Town would also be purged from all historical records as everything they have ever achieved was paid for with stolen money. The fans are mainly to blame too in encouraging the reckless spending in the first place. Season ticket holders should be traced and made to pay back every penny - it would only be about three and a half thousand pounds each - and then maybe next time when the board are on the fiddle they might do something instead of being a consenting party to criminality.[/p][/quote]Seems theres a pox village missing its idiot[/p][/quote]Is this meant to be ironic? 'Seems theres'? There are words missing from your comment and an apostrophe ought to be included too. You can take the man out of Swindon Oldhamred but you can't etc. TommyMooney

12:45pm Thu 17 Jan 13

Oldhamred says...

AFCBLUKE wrote:
Hi, i will be gutted if all of this is true, even though i mad about AFCB we were in the same situation and it is not something that i'd wish on any supporters. the best thing for you guys to do is stick together get the crowds in. you have an amazing team (expensive but amazing quality) all you have to do is look at the quality of football that was played by both team at dean court to see that we should both be in the championship next season! chin up lads!
Nice one luke..... :-)
[quote][p][bold]AFCBLUKE[/bold] wrote: Hi, i will be gutted if all of this is true, even though i mad about AFCB we were in the same situation and it is not something that i'd wish on any supporters. the best thing for you guys to do is stick together get the crowds in. you have an amazing team (expensive but amazing quality) all you have to do is look at the quality of football that was played by both team at dean court to see that we should both be in the championship next season! chin up lads![/p][/quote]Nice one luke..... :-) Oldhamred

12:55pm Thu 17 Jan 13

Lambourn Red says...

TommyMooney wrote:
It's such a shame that Swindon intend to walk away from their debts again.

It's about time criminals like this football club were driven out of business with the ground bulldozed and all merchanise burnt.

If I had my way Swindon Town would also be purged from all historical records as everything they have ever achieved was paid for with stolen money.

The fans are mainly to blame too in encouraging the reckless spending in the first place. Season ticket holders should be traced and made to pay back every penny - it would only be about three and a half thousand pounds each - and then maybe next time when the board are on the fiddle they might do something instead of being a consenting party to criminality.
Have you paid Kassam this month ?
[quote][p][bold]TommyMooney[/bold] wrote: It's such a shame that Swindon intend to walk away from their debts again. It's about time criminals like this football club were driven out of business with the ground bulldozed and all merchanise burnt. If I had my way Swindon Town would also be purged from all historical records as everything they have ever achieved was paid for with stolen money. The fans are mainly to blame too in encouraging the reckless spending in the first place. Season ticket holders should be traced and made to pay back every penny - it would only be about three and a half thousand pounds each - and then maybe next time when the board are on the fiddle they might do something instead of being a consenting party to criminality.[/p][/quote]Have you paid Kassam this month ? Lambourn Red

12:58pm Thu 17 Jan 13

Rondogers says...

**BREAKING NEWS**

No need to panic! just heard STFC are expecting compensation for being mis-sold PPI. lol

I hate being a STFC fan!!!! :(
**BREAKING NEWS** No need to panic! just heard STFC are expecting compensation for being mis-sold PPI. lol I hate being a STFC fan!!!! :( Rondogers

1:16pm Thu 17 Jan 13

StronzoCanio says...

Lambourn Red wrote:
TommyMooney wrote:
It's such a shame that Swindon intend to walk away from their debts again.

It's about time criminals like this football club were driven out of business with the ground bulldozed and all merchanise burnt.

If I had my way Swindon Town would also be purged from all historical records as everything they have ever achieved was paid for with stolen money.

The fans are mainly to blame too in encouraging the reckless spending in the first place. Season ticket holders should be traced and made to pay back every penny - it would only be about three and a half thousand pounds each - and then maybe next time when the board are on the fiddle they might do something instead of being a consenting party to criminality.
Have you paid Kassam this month ?
Have you paid the council or are they just one of a list of creditors?
[quote][p][bold]Lambourn Red[/bold] wrote: [quote][p][bold]TommyMooney[/bold] wrote: It's such a shame that Swindon intend to walk away from their debts again. It's about time criminals like this football club were driven out of business with the ground bulldozed and all merchanise burnt. If I had my way Swindon Town would also be purged from all historical records as everything they have ever achieved was paid for with stolen money. The fans are mainly to blame too in encouraging the reckless spending in the first place. Season ticket holders should be traced and made to pay back every penny - it would only be about three and a half thousand pounds each - and then maybe next time when the board are on the fiddle they might do something instead of being a consenting party to criminality.[/p][/quote]Have you paid Kassam this month ?[/p][/quote]Have you paid the council or are they just one of a list of creditors? StronzoCanio

1:24pm Thu 17 Jan 13

StronzoCanio says...

If you enter administration for the third time, the league need to punish you with a points deduction, a ban of transfers in to the club and loan player should be returned.
You bought the league last year and ar trying to do it again with money you don't have.
Di Canio will be off asap.
If you enter administration for the third time, the league need to punish you with a points deduction, a ban of transfers in to the club and loan player should be returned. You bought the league last year and ar trying to do it again with money you don't have. Di Canio will be off asap. StronzoCanio

1:30pm Thu 17 Jan 13

Swindon1984 says...

TommyMooney wrote:
It's such a shame that Swindon intend to walk away from their debts again. It's about time criminals like this football club were driven out of business with the ground bulldozed and all merchanise burnt. If I had my way Swindon Town would also be purged from all historical records as everything they have ever achieved was paid for with stolen money. The fans are mainly to blame too in encouraging the reckless spending in the first place. Season ticket holders should be traced and made to pay back every penny - it would only be about three and a half thousand pounds each - and then maybe next time when the board are on the fiddle they might do something instead of being a consenting party to criminality.
If season tickets were three and a half grand a pop (£150+ per game!?!?) then we'd have no problem buying out Black or anyone else - where's this mug buying his season ticket from? Ah right, just another wind up merchant who knows nowt about football jumping on the bandwagon, got it.

Maybe you'd like to elaborate on all this stolen money? Actually don't bother, you're quite clearly a moron.
[quote][p][bold]TommyMooney[/bold] wrote: It's such a shame that Swindon intend to walk away from their debts again. It's about time criminals like this football club were driven out of business with the ground bulldozed and all merchanise burnt. If I had my way Swindon Town would also be purged from all historical records as everything they have ever achieved was paid for with stolen money. The fans are mainly to blame too in encouraging the reckless spending in the first place. Season ticket holders should be traced and made to pay back every penny - it would only be about three and a half thousand pounds each - and then maybe next time when the board are on the fiddle they might do something instead of being a consenting party to criminality.[/p][/quote]If season tickets were three and a half grand a pop (£150+ per game!?!?) then we'd have no problem buying out Black or anyone else - where's this mug buying his season ticket from? Ah right, just another wind up merchant who knows nowt about football jumping on the bandwagon, got it. Maybe you'd like to elaborate on all this stolen money? Actually don't bother, you're quite clearly a moron. Swindon1984

1:44pm Thu 17 Jan 13

STEADY EDDIE 1 for the road says...

the wizard wrote:
ChrisWantageRed wrote:
the wizard wrote:
Lots of very ill judged knee jerk reaction today. Nothing has changed since Patey came here, in fact it may seem that potential investors have been found and they are looking for an in depth analysis of our accounts etc and how the club is financially set up. The debt we have is very similar to man U and Chelski, the debt if any is what the club owes the owners, nothing more. The tax man and everyone else is paid up to date, and that was on the radio interviews this morning. By putting the club in administration means those debts are wiped out and therefore the club becomes more attractive to incoming buyers and if sold as part and parcel of the deal, then we do not get a points deduction. . I think this has been on the cards since Wrays dismissal , and is the exact reason as to why Patey was brought in. Black can no longer afford to sustain the club at its existing level, so we will know more after the board meeting on Saturday when who knows a potential investor may be announced. It sounds to me like they won't be going to all this trouble for nothing.
Wiz,

Thank you for this post. I actually did not understand that under certain circumstances it's possible we wouldn't get a points deduction. This eases my mind still further!
The way I understand it is, on the day of the sale we enter admin, so all debts are cleared and then the new owners come in with their finance and take over a debt free club straight away, then that is ok, if it is part and parcel of the deal. I believe there are ways around it.

I'm only going on what I've been told by someone who is very hands on with this sort of finance, I hope he is not wrong, I'll wring his neck if he is!!
When you enter administration, the administrator would ordinarilly have to agree a C.V.A with the clubs creditors which would see a large proportion of the debts written off but not completely wiped out. Football league rules stipulate that if a club enters into administration there is an automatic 10 point deduction. Since most of Swindons debt seems to be owed to mr black & fellow directors they stand to lose the most. Surely if they care for the football club they would just write off most of the monies loaned to the club thus making it a more attractive/viable proposition to prospective buyers without the need for administration. As an AFCB fan I dont take any satisfaction from your plight, wev'e been down this road to many times ourselves. Good luck.!!!!!!!!!!.
[quote][p][bold]the wizard[/bold] wrote: [quote][p][bold]ChrisWantageRed[/bold] wrote: [quote][p][bold]the wizard[/bold] wrote: Lots of very ill judged knee jerk reaction today. Nothing has changed since Patey came here, in fact it may seem that potential investors have been found and they are looking for an in depth analysis of our accounts etc and how the club is financially set up. The debt we have is very similar to man U and Chelski, the debt if any is what the club owes the owners, nothing more. The tax man and everyone else is paid up to date, and that was on the radio interviews this morning. By putting the club in administration means those debts are wiped out and therefore the club becomes more attractive to incoming buyers and if sold as part and parcel of the deal, then we do not get a points deduction. . I think this has been on the cards since Wrays dismissal , and is the exact reason as to why Patey was brought in. Black can no longer afford to sustain the club at its existing level, so we will know more after the board meeting on Saturday when who knows a potential investor may be announced. It sounds to me like they won't be going to all this trouble for nothing.[/p][/quote]Wiz, Thank you for this post. I actually did not understand that under certain circumstances it's possible we wouldn't get a points deduction. This eases my mind still further![/p][/quote]The way I understand it is, on the day of the sale we enter admin, so all debts are cleared and then the new owners come in with their finance and take over a debt free club straight away, then that is ok, if it is part and parcel of the deal. I believe there are ways around it. I'm only going on what I've been told by someone who is very hands on with this sort of finance, I hope he is not wrong, I'll wring his neck if he is!![/p][/quote]When you enter administration, the administrator would ordinarilly have to agree a C.V.A with the clubs creditors which would see a large proportion of the debts written off but not completely wiped out. Football league rules stipulate that if a club enters into administration there is an automatic 10 point deduction. Since most of Swindons debt seems to be owed to mr black & fellow directors they stand to lose the most. Surely if they care for the football club they would just write off most of the monies loaned to the club thus making it a more attractive/viable proposition to prospective buyers without the need for administration. As an AFCB fan I dont take any satisfaction from your plight, wev'e been down this road to many times ourselves. Good luck.!!!!!!!!!!. STEADY EDDIE 1 for the road

1:48pm Thu 17 Jan 13

London Red says...

Seems my fears were realised!
.
The moronic public are out in force everywhere having their say without understanding what is really happening
.
STFC rebuilt reputation has just been totally shattered by one headline
.
Worse still though some is coming form our own fans!
.
How can anyone slate Black and Co and say we are no better off than before
.
When they arrived we were minutes from closing with millions of debt owed to HMRC, St Modwin and the rest of the creditors in the CVA
.
Now we just "owe" money to Black, Wray, Fitton and Arbib (note the quote marks! as we "owe" ourselves")
Seems my fears were realised! . The moronic public are out in force everywhere having their say without understanding what is really happening . STFC rebuilt reputation has just been totally shattered by one headline . Worse still though some is coming form our own fans! . How can anyone slate Black and Co and say we are no better off than before . When they arrived we were minutes from closing with millions of debt owed to HMRC, St Modwin and the rest of the creditors in the CVA . Now we just "owe" money to Black, Wray, Fitton and Arbib (note the quote marks! as we "owe" ourselves") London Red

1:51pm Thu 17 Jan 13

London Red says...

Thank You Eddie - a little faith has been restored!
.
Pretty much nail on the head - as I said earlier think this is simply a game of poker between the owners while striking a deal with the new investors
Thank You Eddie - a little faith has been restored! . Pretty much nail on the head - as I said earlier think this is simply a game of poker between the owners while striking a deal with the new investors London Red

1:55pm Thu 17 Jan 13

Swindon1984 says...

London Red wrote:
Seems my fears were realised! . The moronic public are out in force everywhere having their say without understanding what is really happening . STFC rebuilt reputation has just been totally shattered by one headline . Worse still though some is coming form our own fans! . How can anyone slate Black and Co and say we are no better off than before . When they arrived we were minutes from closing with millions of debt owed to HMRC, St Modwin and the rest of the creditors in the CVA . Now we just "owe" money to Black, Wray, Fitton and Arbib (note the quote marks! as we "owe" ourselves")
Bingo, but you're preaching to the converted, as the idiots who speak without knowing the facts will continue to do so. Statements today have ranged from the sublime to the ridiculous - slagging off those who saved our club just because they understandably want out as they're losing money hand over fist, asking "who owns the County Ground" (ffs...) and wind up merchants aplenty who claim this is just our chickens coming home to roost.

Unfortunately you just can't stop these people talking **** - the internet's given everyone a voice, it's just a shame a lot of people aren't worth hearing.
[quote][p][bold]London Red[/bold] wrote: Seems my fears were realised! . The moronic public are out in force everywhere having their say without understanding what is really happening . STFC rebuilt reputation has just been totally shattered by one headline . Worse still though some is coming form our own fans! . How can anyone slate Black and Co and say we are no better off than before . When they arrived we were minutes from closing with millions of debt owed to HMRC, St Modwin and the rest of the creditors in the CVA . Now we just "owe" money to Black, Wray, Fitton and Arbib (note the quote marks! as we "owe" ourselves")[/p][/quote]Bingo, but you're preaching to the converted, as the idiots who speak without knowing the facts will continue to do so. Statements today have ranged from the sublime to the ridiculous - slagging off those who saved our club just because they understandably want out as they're losing money hand over fist, asking "who owns the County Ground" (ffs...) and wind up merchants aplenty who claim this is just our chickens coming home to roost. Unfortunately you just can't stop these people talking **** - the internet's given everyone a voice, it's just a shame a lot of people aren't worth hearing. Swindon1984

2:08pm Thu 17 Jan 13

billbst says...

London Red wrote:
Seems my fears were realised!
.
The moronic public are out in force everywhere having their say without understanding what is really happening
.
STFC rebuilt reputation has just been totally shattered by one headline
.
Worse still though some is coming form our own fans!
.
How can anyone slate Black and Co and say we are no better off than before
.
When they arrived we were minutes from closing with millions of debt owed to HMRC, St Modwin and the rest of the creditors in the CVA
.
Now we just "owe" money to Black, Wray, Fitton and Arbib (note the quote marks! as we "owe" ourselves")
Well said LR.
[quote][p][bold]London Red[/bold] wrote: Seems my fears were realised! . The moronic public are out in force everywhere having their say without understanding what is really happening . STFC rebuilt reputation has just been totally shattered by one headline . Worse still though some is coming form our own fans! . How can anyone slate Black and Co and say we are no better off than before . When they arrived we were minutes from closing with millions of debt owed to HMRC, St Modwin and the rest of the creditors in the CVA . Now we just "owe" money to Black, Wray, Fitton and Arbib (note the quote marks! as we "owe" ourselves")[/p][/quote]Well said LR. billbst

2:26pm Thu 17 Jan 13

Lambourn Red says...

STEADY EDDIE 1 for the road wrote:
the wizard wrote:
ChrisWantageRed wrote:
the wizard wrote:
Lots of very ill judged knee jerk reaction today. Nothing has changed since Patey came here, in fact it may seem that potential investors have been found and they are looking for an in depth analysis of our accounts etc and how the club is financially set up. The debt we have is very similar to man U and Chelski, the debt if any is what the club owes the owners, nothing more. The tax man and everyone else is paid up to date, and that was on the radio interviews this morning. By putting the club in administration means those debts are wiped out and therefore the club becomes more attractive to incoming buyers and if sold as part and parcel of the deal, then we do not get a points deduction. . I think this has been on the cards since Wrays dismissal , and is the exact reason as to why Patey was brought in. Black can no longer afford to sustain the club at its existing level, so we will know more after the board meeting on Saturday when who knows a potential investor may be announced. It sounds to me like they won't be going to all this trouble for nothing.
Wiz,

Thank you for this post. I actually did not understand that under certain circumstances it's possible we wouldn't get a points deduction. This eases my mind still further!
The way I understand it is, on the day of the sale we enter admin, so all debts are cleared and then the new owners come in with their finance and take over a debt free club straight away, then that is ok, if it is part and parcel of the deal. I believe there are ways around it.

I'm only going on what I've been told by someone who is very hands on with this sort of finance, I hope he is not wrong, I'll wring his neck if he is!!
When you enter administration, the administrator would ordinarilly have to agree a C.V.A with the clubs creditors which would see a large proportion of the debts written off but not completely wiped out. Football league rules stipulate that if a club enters into administration there is an automatic 10 point deduction. Since most of Swindons debt seems to be owed to mr black & fellow directors they stand to lose the most. Surely if they care for the football club they would just write off most of the monies loaned to the club thus making it a more attractive/viable proposition to prospective buyers without the need for administration. As an AFCB fan I dont take any satisfaction from your plight, wev'e been down this road to many times ourselves. Good luck.!!!!!!!!!!.
Thankfully a sensible post and from a non Town fan thank you. The damage is done unfortunately in terms of un educated fans of other teams who will just read the headline and say serves them right when in reality it is a real non story as surely the owners will write off debt and sell rather than go into admin pay THEMSELVES 10p in the pound and make the club a less viable concern with no chance of promotion.
[quote][p][bold]STEADY EDDIE 1 for the road[/bold] wrote: [quote][p][bold]the wizard[/bold] wrote: [quote][p][bold]ChrisWantageRed[/bold] wrote: [quote][p][bold]the wizard[/bold] wrote: Lots of very ill judged knee jerk reaction today. Nothing has changed since Patey came here, in fact it may seem that potential investors have been found and they are looking for an in depth analysis of our accounts etc and how the club is financially set up. The debt we have is very similar to man U and Chelski, the debt if any is what the club owes the owners, nothing more. The tax man and everyone else is paid up to date, and that was on the radio interviews this morning. By putting the club in administration means those debts are wiped out and therefore the club becomes more attractive to incoming buyers and if sold as part and parcel of the deal, then we do not get a points deduction. . I think this has been on the cards since Wrays dismissal , and is the exact reason as to why Patey was brought in. Black can no longer afford to sustain the club at its existing level, so we will know more after the board meeting on Saturday when who knows a potential investor may be announced. It sounds to me like they won't be going to all this trouble for nothing.[/p][/quote]Wiz, Thank you for this post. I actually did not understand that under certain circumstances it's possible we wouldn't get a points deduction. This eases my mind still further![/p][/quote]The way I understand it is, on the day of the sale we enter admin, so all debts are cleared and then the new owners come in with their finance and take over a debt free club straight away, then that is ok, if it is part and parcel of the deal. I believe there are ways around it. I'm only going on what I've been told by someone who is very hands on with this sort of finance, I hope he is not wrong, I'll wring his neck if he is!![/p][/quote]When you enter administration, the administrator would ordinarilly have to agree a C.V.A with the clubs creditors which would see a large proportion of the debts written off but not completely wiped out. Football league rules stipulate that if a club enters into administration there is an automatic 10 point deduction. Since most of Swindons debt seems to be owed to mr black & fellow directors they stand to lose the most. Surely if they care for the football club they would just write off most of the monies loaned to the club thus making it a more attractive/viable proposition to prospective buyers without the need for administration. As an AFCB fan I dont take any satisfaction from your plight, wev'e been down this road to many times ourselves. Good luck.!!!!!!!!!!.[/p][/quote]Thankfully a sensible post and from a non Town fan thank you. The damage is done unfortunately in terms of un educated fans of other teams who will just read the headline and say serves them right when in reality it is a real non story as surely the owners will write off debt and sell rather than go into admin pay THEMSELVES 10p in the pound and make the club a less viable concern with no chance of promotion. Lambourn Red

2:27pm Thu 17 Jan 13

Oi Den! says...

London Red wrote:
Seems my fears were realised! . The moronic public are out in force everywhere having their say without understanding what is really happening . STFC rebuilt reputation has just been totally shattered by one headline . Worse still though some is coming form our own fans! . How can anyone slate Black and Co and say we are no better off than before . When they arrived we were minutes from closing with millions of debt owed to HMRC, St Modwin and the rest of the creditors in the CVA . Now we just "owe" money to Black, Wray, Fitton and Arbib (note the quote marks! as we "owe" ourselves")
Come off it LR! The football club and the investors are all separate legal persons. We cannot "owe ourselves". It may seem that way when everything is rosy and the investors are happy to continue. But at times like this the reality hits home. The club owes them a lot of money and now they want it back - or as much of it as they can get. I agree it's better than owing money here there and everywhere - but it's still indebtedness. As for the headline, I'm with you on that. But maybe people should take the trouble to read beyond it.
[quote][p][bold]London Red[/bold] wrote: Seems my fears were realised! . The moronic public are out in force everywhere having their say without understanding what is really happening . STFC rebuilt reputation has just been totally shattered by one headline . Worse still though some is coming form our own fans! . How can anyone slate Black and Co and say we are no better off than before . When they arrived we were minutes from closing with millions of debt owed to HMRC, St Modwin and the rest of the creditors in the CVA . Now we just "owe" money to Black, Wray, Fitton and Arbib (note the quote marks! as we "owe" ourselves")[/p][/quote]Come off it LR! The football club and the investors are all separate legal persons. We cannot "owe ourselves". It may seem that way when everything is rosy and the investors are happy to continue. But at times like this the reality hits home. The club owes them a lot of money and now they want it back - or as much of it as they can get. I agree it's better than owing money here there and everywhere - but it's still indebtedness. As for the headline, I'm with you on that. But maybe people should take the trouble to read beyond it. Oi Den!

2:31pm Thu 17 Jan 13

madterrier says...

Just logged on to discover all this. Yikes. Although it's been on the cards for a while now.

What LR says is correct. Clubs go into administration to protect themselves from their creditors, who are of course (mostly) our owners, notably Black

Going into administration allows administrators to reorganise the structure to try and achieve a better financial outcome than would happen if the business was declared insolvent.

You would hope that Mr Black would see that the club is a more saleable proposition with a strong squad chasing promotion, or even in the Championship. But it looks like he's not willing to cover the shortfall in income over costs for the next few months, or refinance the loans, let alone invest in the January transfer window.

If anything, the timing is to allow them to realise value by selling our best players over the next two weeks. But if that is their plan, they would have been better off doing that quietly before now, realising higher prices, and before making this announcement, even if it would have incurred the wrath of supporters.

You can appoint (actually hire, as consultants) administrators without going into administration. I've seen it happen in companies I have worked with, and you can only construe it as the writing on the wall as the to the financial position and the inclination of the owners. They would want to look at the books and the structure of the business, but it certainly sets alarm bells clanging.

We've been saying for ages that you don't 'invest' in football clubs - you only squander money. What Messrs Black, Arbib and Co. did was restructure the finances. They refinanced the debts through new loans, not by pumping in equity. I'm afraid the gates just haven't been high enough. Didn't Wray/Fitton say they had budgeted for 10,000 average?

Of course the club has done nothing wrong because the finances were sound, technically. All this about buying promotion is nonsense. But it is always at the creditors behest to change that situation suddenly.

We never really knew why they wanted in, but now clearly they want out. I suspect that the Administrator will advise Mr Black on which route will lose him the least money.
Just logged on to discover all this. Yikes. Although it's been on the cards for a while now. What LR says is correct. Clubs go into administration to protect themselves from their creditors, who are of course (mostly) our owners, notably Black Going into administration allows administrators to reorganise the structure to try and achieve a better financial outcome than would happen if the business was declared insolvent. You would hope that Mr Black would see that the club is a more saleable proposition with a strong squad chasing promotion, or even in the Championship. But it looks like he's not willing to cover the shortfall in income over costs for the next few months, or refinance the loans, let alone invest in the January transfer window. If anything, the timing is to allow them to realise value by selling our best players over the next two weeks. But if that is their plan, they would have been better off doing that quietly before now, realising higher prices, and before making this announcement, even if it would have incurred the wrath of supporters. You can appoint (actually hire, as consultants) administrators without going into administration. I've seen it happen in companies I have worked with, and you can only construe it as the writing on the wall as the to the financial position and the inclination of the owners. They would want to look at the books and the structure of the business, but it certainly sets alarm bells clanging. We've been saying for ages that you don't 'invest' in football clubs - you only squander money. What Messrs Black, Arbib and Co. did was restructure the finances. They refinanced the debts through new loans, not by pumping in equity. I'm afraid the gates just haven't been high enough. Didn't Wray/Fitton say they had budgeted for 10,000 average? Of course the club has done nothing wrong because the finances were sound, technically. All this about buying promotion is nonsense. But it is always at the creditors behest to change that situation suddenly. We never really knew why they wanted in, but now clearly they want out. I suspect that the Administrator will advise Mr Black on which route will lose him the least money. madterrier

3:08pm Thu 17 Jan 13

uv101 says...

Wish I could run up a 13m debt and just go into administration! This is the 3rd time as well.....should be kicked out the league.....disgustin
g!!!
Wish I could run up a 13m debt and just go into administration! This is the 3rd time as well.....should be kicked out the league.....disgustin g!!! uv101

3:33pm Thu 17 Jan 13

the don69 says...

We haven't run up £13m debt,Black owes it to himself,so he can whistle for it,hope he loses every penny,he's bored with his football toy,most likely wants to buy some more horses with the dosh,tough luck he's blown it(or Paolo has on a very good team)and one more thing all you Wembley one day wonders get down to the County Ground Saturday your team needs you now,not just at Wembley!u reds forever!!!!!!!!!!
We haven't run up £13m debt,Black owes it to himself,so he can whistle for it,hope he loses every penny,he's bored with his football toy,most likely wants to buy some more horses with the dosh,tough luck he's blown it(or Paolo has on a very good team)and one more thing all you Wembley one day wonders get down to the County Ground Saturday your team needs you now,not just at Wembley!u reds forever!!!!!!!!!! the don69

3:48pm Thu 17 Jan 13

Di kanny oh says...

What a shame our Council are not like Bristol's who do seem to have some vision. It seems our Council still has the blinkers on and are unwilling to help take this football club forward into the 20th century. I bet this what all this is about. The consortium that rid all the debts a few years back were hoping to take this club forward with the help of the council but if what I am hearing is right then it will never happen with this council who are far too negative against sports institutions in Wiltshire. New stadia is the way forward which could house concert halls, gymnasiums, hotels, etc etc etc but our council would rather waste money on building mosque and roundabouts.
What a shame our Council are not like Bristol's who do seem to have some vision. It seems our Council still has the blinkers on and are unwilling to help take this football club forward into the 20th century. I bet this what all this is about. The consortium that rid all the debts a few years back were hoping to take this club forward with the help of the council but if what I am hearing is right then it will never happen with this council who are far too negative against sports institutions in Wiltshire. New stadia is the way forward which could house concert halls, gymnasiums, hotels, etc etc etc but our council would rather waste money on building mosque and roundabouts. Di kanny oh

3:50pm Thu 17 Jan 13

Deejaycee says...

Best of luck STFC from the majority of AFCB supporters. Sorry, can't speak for everyone, we have a mindless few, as no doubt you have.
Best of luck STFC from the majority of AFCB supporters. Sorry, can't speak for everyone, we have a mindless few, as no doubt you have. Deejaycee

4:04pm Thu 17 Jan 13

HOOKEY says...

Di kanny oh wrote:
What a shame our Council are not like Bristol's who do seem to have some vision. It seems our Council still has the blinkers on and are unwilling to help take this football club forward into the 20th century. I bet this what all this is about. The consortium that rid all the debts a few years back were hoping to take this club forward with the help of the council but if what I am hearing is right then it will never happen with this council who are far too negative against sports institutions in Wiltshire. New stadia is the way forward which could house concert halls, gymnasiums, hotels, etc etc etc but our council would rather waste money on building mosque and roundabouts.
spot on best post on here,i said the same two days ago,then all the do gooders came out the wood work and said i was talking crap this wouldnt happen to the club if the council agreed th let um develope the county ground
[quote][p][bold]Di kanny oh[/bold] wrote: What a shame our Council are not like Bristol's who do seem to have some vision. It seems our Council still has the blinkers on and are unwilling to help take this football club forward into the 20th century. I bet this what all this is about. The consortium that rid all the debts a few years back were hoping to take this club forward with the help of the council but if what I am hearing is right then it will never happen with this council who are far too negative against sports institutions in Wiltshire. New stadia is the way forward which could house concert halls, gymnasiums, hotels, etc etc etc but our council would rather waste money on building mosque and roundabouts.[/p][/quote]spot on best post on here,i said the same two days ago,then all the do gooders came out the wood work and said i was talking crap this wouldnt happen to the club if the council agreed th let um develope the county ground HOOKEY

4:34pm Thu 17 Jan 13

London Red says...

Den of course STFC owes money to itself
.
STFC only owes money to STFC Holdings
.
STFC Holdings in owed by Andrew Black and Co
.
Therefore, STFC owes money to Andrew Black and Co who owns STFC
.
Its just one big circle - its like lending money to your wife - yes you are two people but your finances are linked!
.
If she lost it and doesn't pay it back you lose the money!
.
If Andrew Black wants any back he has to sell - to sell he has to reduce the debt
.
This is what this is all about - the poker game about restructuring STFC Holdings
.
I don't know the ins and outs of the Holding Co - but do know it is made up of a mix of loans and equity
.
Now this made up just to illistrate a point

The loans are even split amongst the 4 members of the consortium (i.e £3m each and makes up the amount on the clubs liability section of the balance sheet)
.
Andrew Black then holds most of the Shares - thus most of the Shares in STFC
.
He could well ay look I will put STFC in Administration through my Share Rights to reduce the debt if you wont do it
.
He would then loses £2.25m (as do the others) as his £3m becomes £0.75m as part of the £3m CVA

However he then "gains" £3m via the sale of the shares he owns in STFC
.
Overall he gets £3.75m which is more than he can get currently!!!
.
The others then only get £0.75m instead of £3m
.
So the threat is do you want £0.75m or negotiate somewhere in between that and £3m!
Den of course STFC owes money to itself . STFC only owes money to STFC Holdings . STFC Holdings in owed by Andrew Black and Co . Therefore, STFC owes money to Andrew Black and Co who owns STFC . Its just one big circle - its like lending money to your wife - yes you are two people but your finances are linked! . If she lost it and doesn't pay it back you lose the money! . If Andrew Black wants any back he has to sell - to sell he has to reduce the debt . This is what this is all about - the poker game about restructuring STFC Holdings . I don't know the ins and outs of the Holding Co - but do know it is made up of a mix of loans and equity . Now this made up just to illistrate a point The loans are even split amongst the 4 members of the consortium (i.e £3m each and makes up the amount on the clubs liability section of the balance sheet) . Andrew Black then holds most of the Shares - thus most of the Shares in STFC . He could well ay look I will put STFC in Administration through my Share Rights to reduce the debt if you wont do it . He would then loses £2.25m (as do the others) as his £3m becomes £0.75m as part of the £3m CVA However he then "gains" £3m via the sale of the shares he owns in STFC . Overall he gets £3.75m which is more than he can get currently!!! . The others then only get £0.75m instead of £3m . So the threat is do you want £0.75m or negotiate somewhere in between that and £3m! London Red

4:36pm Thu 17 Jan 13

AFCBLUKE says...

Hopefully this means we can get Matt Ritchie at a discounted price!!!!
Hopefully this means we can get Matt Ritchie at a discounted price!!!! AFCBLUKE

4:43pm Thu 17 Jan 13

Oi Den! says...

LR, as soon as the creditor wants out the circle is broken - just like it is when either party to a marriage wants out.
LR, as soon as the creditor wants out the circle is broken - just like it is when either party to a marriage wants out. Oi Den!

4:51pm Thu 17 Jan 13

Rebel_phish says...

AFCBLUKE wrote:
Hopefully this means we can get Matt Ritchie at a discounted price!!!!
This means that Matt is staying put
[quote][p][bold]AFCBLUKE[/bold] wrote: Hopefully this means we can get Matt Ritchie at a discounted price!!!![/p][/quote]This means that Matt is staying put Rebel_phish

4:52pm Thu 17 Jan 13

the don69 says...

AFCBLUKE wrote:
Hopefully this means we can get Matt Ritchie at a discounted price!!!!
Yeah £13m,down from £20m,bargain!the Russian can use his ill-gotten gain's!!!!!!!!!!!!!!
[quote][p][bold]AFCBLUKE[/bold] wrote: Hopefully this means we can get Matt Ritchie at a discounted price!!!![/p][/quote]Yeah £13m,down from £20m,bargain!the Russian can use his ill-gotten gain's!!!!!!!!!!!!!! the don69

4:53pm Thu 17 Jan 13

old town robin says...

Di kanny oh wrote:
What a shame our Council are not like Bristol's who do seem to have some vision. It seems our Council still has the blinkers on and are unwilling to help take this football club forward into the 20th century. I bet this what all this is about. The consortium that rid all the debts a few years back were hoping to take this club forward with the help of the council but if what I am hearing is right then it will never happen with this council who are far too negative against sports institutions in Wiltshire. New stadia is the way forward which could house concert halls, gymnasiums, hotels, etc etc etc but our council would rather waste money on building mosque and roundabouts.
Don't think the council would finance the building of a mosque, but would agree with you that planning permission would seem to be easier to get than approving development at the County Ground, maybe we should build a mosque there, (Sic).

Seriously as much as I would like us to stay where we are, this council has thrown up obstacles for as long as I can remember, Every prospective developer has failed to overcome the power they have as land owners. On this alone when one of the local political parties commit to supporting the future of our club, they wil get my vote.
[quote][p][bold]Di kanny oh[/bold] wrote: What a shame our Council are not like Bristol's who do seem to have some vision. It seems our Council still has the blinkers on and are unwilling to help take this football club forward into the 20th century. I bet this what all this is about. The consortium that rid all the debts a few years back were hoping to take this club forward with the help of the council but if what I am hearing is right then it will never happen with this council who are far too negative against sports institutions in Wiltshire. New stadia is the way forward which could house concert halls, gymnasiums, hotels, etc etc etc but our council would rather waste money on building mosque and roundabouts.[/p][/quote]Don't think the council would finance the building of a mosque, but would agree with you that planning permission would seem to be easier to get than approving development at the County Ground, maybe we should build a mosque there, (Sic). Seriously as much as I would like us to stay where we are, this council has thrown up obstacles for as long as I can remember, Every prospective developer has failed to overcome the power they have as land owners. On this alone when one of the local political parties commit to supporting the future of our club, they wil get my vote. old town robin

4:54pm Thu 17 Jan 13

smirg kcab says...

I wish s.w.p would work as hard as paolo because if he did he would have found buyers last month.
Downwards and sinking
I wish s.w.p would work as hard as paolo because if he did he would have found buyers last month. Downwards and sinking smirg kcab

5:06pm Thu 17 Jan 13

Oxon-Red says...

Have the BBC hired out of work 'News of the World' ? Sensensationalism in the extreme to get the headline:

"Swindon Town up for sale to avoid administration"

from:

"When asked if he could guarantee the club could avoid administration for a third time in their history, Patey responded: "Not a single chairman in the country could do that."

COYMR
Have the BBC hired out of work 'News of the World' ? Sensensationalism in the extreme to get the headline: "Swindon Town up for sale to avoid administration" from: "When asked if he could guarantee the club could avoid administration for a third time in their history, Patey responded: "Not a single chairman in the country could do that." COYMR Oxon-Red

5:13pm Thu 17 Jan 13

the don69 says...

smirg kcab wrote:
I wish s.w.p would work as hard as paolo because if he did he would have found buyers last month.
Downwards and sinking
Don't Panic Grim!we'll find a lifeboat or maybe Patey can find a Talliban drug baron with loads of dosh to blow!LOL!!!!!!!!!!
[quote][p][bold]smirg kcab[/bold] wrote: I wish s.w.p would work as hard as paolo because if he did he would have found buyers last month. Downwards and sinking[/p][/quote]Don't Panic Grim!we'll find a lifeboat or maybe Patey can find a Talliban drug baron with loads of dosh to blow!LOL!!!!!!!!!! the don69

5:25pm Thu 17 Jan 13

Oldhamred says...

old town robin wrote:
Di kanny oh wrote:
What a shame our Council are not like Bristol's who do seem to have some vision. It seems our Council still has the blinkers on and are unwilling to help take this football club forward into the 20th century. I bet this what all this is about. The consortium that rid all the debts a few years back were hoping to take this club forward with the help of the council but if what I am hearing is right then it will never happen with this council who are far too negative against sports institutions in Wiltshire. New stadia is the way forward which could house concert halls, gymnasiums, hotels, etc etc etc but our council would rather waste money on building mosque and roundabouts.
Don't think the council would finance the building of a mosque, but would agree with you that planning permission would seem to be easier to get than approving development at the County Ground, maybe we should build a mosque there, (Sic).

Seriously as much as I would like us to stay where we are, this council has thrown up obstacles for as long as I can remember, Every prospective developer has failed to overcome the power they have as land owners. On this alone when one of the local political parties commit to supporting the future of our club, they wil get my vote.
From my experience in Oldham, local councils are more than happy to build the odd 1 or 2 hundred mosques.
A vote winner for sure!!
They even allow the registration of a home address as a mosque, then they can avoid paying council tax!!!!!
Only in England :-)
[quote][p][bold]old town robin[/bold] wrote: [quote][p][bold]Di kanny oh[/bold] wrote: What a shame our Council are not like Bristol's who do seem to have some vision. It seems our Council still has the blinkers on and are unwilling to help take this football club forward into the 20th century. I bet this what all this is about. The consortium that rid all the debts a few years back were hoping to take this club forward with the help of the council but if what I am hearing is right then it will never happen with this council who are far too negative against sports institutions in Wiltshire. New stadia is the way forward which could house concert halls, gymnasiums, hotels, etc etc etc but our council would rather waste money on building mosque and roundabouts.[/p][/quote]Don't think the council would finance the building of a mosque, but would agree with you that planning permission would seem to be easier to get than approving development at the County Ground, maybe we should build a mosque there, (Sic). Seriously as much as I would like us to stay where we are, this council has thrown up obstacles for as long as I can remember, Every prospective developer has failed to overcome the power they have as land owners. On this alone when one of the local political parties commit to supporting the future of our club, they wil get my vote.[/p][/quote]From my experience in Oldham, local councils are more than happy to build the odd 1 or 2 hundred mosques. A vote winner for sure!! They even allow the registration of a home address as a mosque, then they can avoid paying council tax!!!!! Only in England :-) Oldhamred

5:33pm Thu 17 Jan 13

Pewsham Red says...

N Smith wrote:
I am sure we can help out just sell Ritchie to us for a million and that will get you through.All joking apart down at Bmth we have gone through this several times and it's a nightmare for fans so good luck with it.ps Saturdays game was brilliant great advert for div 1 football.
Cheers mate. Nice comment. We've been through it before but couldn't see his coming.
[quote][p][bold]N Smith[/bold] wrote: I am sure we can help out just sell Ritchie to us for a million and that will get you through.All joking apart down at Bmth we have gone through this several times and it's a nightmare for fans so good luck with it.ps Saturdays game was brilliant great advert for div 1 football.[/p][/quote]Cheers mate. Nice comment. We've been through it before but couldn't see his coming. Pewsham Red

5:34pm Thu 17 Jan 13

mandate says...

After your points deduction, you'll be fighting off relegation. I wonder who will jump your sinking ship first? I reckon Di Canio and a few of your players will soon be history in Wiltshire.

COME ON OXFORD!!!
After your points deduction, you'll be fighting off relegation. I wonder who will jump your sinking ship first? I reckon Di Canio and a few of your players will soon be history in Wiltshire. COME ON OXFORD!!! mandate

5:45pm Thu 17 Jan 13

Oldhamred says...

mandate wrote:
After your points deduction, you'll be fighting off relegation. I wonder who will jump your sinking ship first? I reckon Di Canio and a few of your players will soon be history in Wiltshire.

COME ON OXFORD!!!
Oxford.....A place where you are considered intelligent if you know who your father is.
Crawl back in your hole.
Retard.
[quote][p][bold]mandate[/bold] wrote: After your points deduction, you'll be fighting off relegation. I wonder who will jump your sinking ship first? I reckon Di Canio and a few of your players will soon be history in Wiltshire. COME ON OXFORD!!![/p][/quote]Oxford.....A place where you are considered intelligent if you know who your father is. Crawl back in your hole. Retard. Oldhamred

5:46pm Thu 17 Jan 13

alchafreds says...

DansAFCB wrote:
He he he he!

Come on Matt come and join us come join us come on over here!

Can you hear Swindon sing no no!!!!!!

Sit down shut up! Great news, say goodbye to that arrogant fool di canio too! Made my day!!!!!
dick ed
[quote][p][bold]DansAFCB[/bold] wrote: He he he he! Come on Matt come and join us come join us come on over here! Can you hear Swindon sing no no!!!!!! Sit down shut up! Great news, say goodbye to that arrogant fool di canio too! Made my day!!!!![/p][/quote]dick ed alchafreds

6:24pm Thu 17 Jan 13

Di kanny oh says...

mandate wrote:
After your points deduction, you'll be fighting off relegation. I wonder who will jump your sinking ship first? I reckon Di Canio and a few of your players will soon be history in Wiltshire.

COME ON OXFORD!!!
Yeh Yeh Yeh obviously another 6 fingered troll who has not read the facts.
FOUR consortiums interested in buying STFC sorry to spoil your small moment of joy but I think you have enough problems of your own up the road without coming on our forum looking for something that is not there. Just keep paying Kassam who is bleeding your club dry Ha Ha Ha.
[quote][p][bold]mandate[/bold] wrote: After your points deduction, you'll be fighting off relegation. I wonder who will jump your sinking ship first? I reckon Di Canio and a few of your players will soon be history in Wiltshire. COME ON OXFORD!!![/p][/quote]Yeh Yeh Yeh obviously another 6 fingered troll who has not read the facts. FOUR consortiums interested in buying STFC sorry to spoil your small moment of joy but I think you have enough problems of your own up the road without coming on our forum looking for something that is not there. Just keep paying Kassam who is bleeding your club dry Ha Ha Ha. Di kanny oh

6:34pm Thu 17 Jan 13

London Red says...

Den he can want out - that's his choice
.
He just can't have the money back as the club doesn't have it
.
All he (and the other) can do is minimise losses by selling
.
In my example you could divorce over it - but you won't get the money back
.
In fact you'd lose 50% of whatever is left!
Den he can want out - that's his choice . He just can't have the money back as the club doesn't have it . All he (and the other) can do is minimise losses by selling . In my example you could divorce over it - but you won't get the money back . In fact you'd lose 50% of whatever is left! London Red

7:20pm Thu 17 Jan 13

Pewsham Red says...

mandate wrote:
After your points deduction, you'll be fighting off relegation. I wonder who will jump your sinking ship first? I reckon Di Canio and a few of your players will soon be history in Wiltshire.

COME ON OXFORD!!!
Mandate! Welcome back. I wondered where you had got to. Remand? Nut house? Or is this the first bit of bad news to come out our club for a few years that has got you crawling out from under the yellow stone?
[quote][p][bold]mandate[/bold] wrote: After your points deduction, you'll be fighting off relegation. I wonder who will jump your sinking ship first? I reckon Di Canio and a few of your players will soon be history in Wiltshire. COME ON OXFORD!!![/p][/quote]Mandate! Welcome back. I wondered where you had got to. Remand? Nut house? Or is this the first bit of bad news to come out our club for a few years that has got you crawling out from under the yellow stone? Pewsham Red

7:48pm Thu 17 Jan 13

Laurak Bat says...

The Great plague is back... the "Black Death" or the "Andrew Black Death" as much as Andrew has invested into the club it all comes to naught when he does this. An arrogant fool, nay mercenary, who thought he could buck the the trend and actually make money out of football... well what do you expect from a gambling tycoon?
He sold out Wray (a volunteer, and brother to his business partner) for a suspicious character, clearly lining up a sale but like a gambler his ambition and his means dont match. We thought Diamandis was bad but this guy is a cancer and has been for years. Why are people only realising this?
The Great plague is back... the "Black Death" or the "Andrew Black Death" as much as Andrew has invested into the club it all comes to naught when he does this. An arrogant fool, nay mercenary, who thought he could buck the the trend and actually make money out of football... well what do you expect from a gambling tycoon? He sold out Wray (a volunteer, and brother to his business partner) for a suspicious character, clearly lining up a sale but like a gambler his ambition and his means dont match. We thought Diamandis was bad but this guy is a cancer and has been for years. Why are people only realising this? Laurak Bat

8:26pm Thu 17 Jan 13

the wizard says...

London Red wrote:
Den he can want out - that's his choice
.
He just can't have the money back as the club doesn't have it
.
All he (and the other) can do is minimise losses by selling
.
In my example you could divorce over it - but you won't get the money back
.
In fact you'd lose 50% of whatever is left!
LR, So the club stands Black for around £13m as an individual, the same as Chelsea owe their owner and the same as Man U owe the dastardly pair. No difference.
The crux of the matter is, from what I have been told this evening by somebody at the club is as follows. Basically Black was feeling the pinch a while back in fact before the season began, but remained "committed to the cause" but was mindful that things had to be kept tight and budgets adhered to. That as we know didn't happen and the embargo was brought into being. That was the straw that broke the camels back. Wray was all too easily led by the manager. That tipped the scales. While the embargo was being sorted out Patey was sounded out to come in and "do a job", its mooted Wray was no longer trusted. He and PDC had had their budget, and then some, and its gone, that is basically what was said at the time.
Black has briefed Patey to find a suitable buyer, note the phrase , suitable, not just anybody who can splash the cash, suitable. It seems now there are people deemed suitable, so some "adjustments" need to be made to make the club look in reality what it is and not the dinosaur some would have us believe . Black I am told is happy and willing to write off the £13M if the right buyers are found, who can immediately pump money into the club. Administration is NOT on the menu right now. However this thorough audit type of operation which is presently being brought into being is to show prospective buyers, the ins, outs, warts and all of how the club is run, and where the money comes from and goes to,. I'm sure as an individual with your back ground you know all about this but others may not. In reality nothing has changed since Patey arrived, its just been under lined today what he is about. The board meeting on Saturday, if weather allows will be the crunch time depending what is agreed. Lets hope the sun shines on their decision.
[quote][p][bold]London Red[/bold] wrote: Den he can want out - that's his choice . He just can't have the money back as the club doesn't have it . All he (and the other) can do is minimise losses by selling . In my example you could divorce over it - but you won't get the money back . In fact you'd lose 50% of whatever is left![/p][/quote]LR, So the club stands Black for around £13m as an individual, the same as Chelsea owe their owner and the same as Man U owe the dastardly pair. No difference. The crux of the matter is, from what I have been told this evening by somebody at the club is as follows. Basically Black was feeling the pinch a while back in fact before the season began, but remained "committed to the cause" but was mindful that things had to be kept tight and budgets adhered to. That as we know didn't happen and the embargo was brought into being. That was the straw that broke the camels back. Wray was all too easily led by the manager. That tipped the scales. While the embargo was being sorted out Patey was sounded out to come in and "do a job", its mooted Wray was no longer trusted. He and PDC had had their budget, and then some, and its gone, that is basically what was said at the time. Black has briefed Patey to find a suitable buyer, note the phrase , suitable, not just anybody who can splash the cash, suitable. It seems now there are people deemed suitable, so some "adjustments" need to be made to make the club look in reality what it is and not the dinosaur some would have us believe . Black I am told is happy and willing to write off the £13M if the right buyers are found, who can immediately pump money into the club. Administration is NOT on the menu right now. However this thorough audit type of operation which is presently being brought into being is to show prospective buyers, the ins, outs, warts and all of how the club is run, and where the money comes from and goes to,. I'm sure as an individual with your back ground you know all about this but others may not. In reality nothing has changed since Patey arrived, its just been under lined today what he is about. The board meeting on Saturday, if weather allows will be the crunch time depending what is agreed. Lets hope the sun shines on their decision. the wizard

8:58pm Thu 17 Jan 13

madterrier says...

Well said Wizard. I suspect that Sam Morshead is regretting his 'opinion piece' a little while back. Probably more to do with naivety than anything else, but he didn't need to insult concerned fans.

I found it interesting to revisit that thread. Most people seemed still in the dark over what Patey's ominous comments actually meant until SAPF in particular put it into context.

http://www.thisisswi
ndontownfc.co.uk/new
s/headlines/10142664
.THE_SAM_MORSHEAD_CO
LUMN__Irrational_pan
ic_over_Patey_s_comm
ents/
Well said Wizard. I suspect that Sam Morshead is regretting his 'opinion piece' a little while back. Probably more to do with naivety than anything else, but he didn't need to insult concerned fans. I found it interesting to revisit that thread. Most people seemed still in the dark over what Patey's ominous comments actually meant until SAPF in particular put it into context. http://www.thisisswi ndontownfc.co.uk/new s/headlines/10142664 .THE_SAM_MORSHEAD_CO LUMN__Irrational_pan ic_over_Patey_s_comm ents/ madterrier

9:28pm Thu 17 Jan 13

Paynter Boy says...

the wizard wrote:
London Red wrote:
Den he can want out - that's his choice
.
He just can't have the money back as the club doesn't have it
.
All he (and the other) can do is minimise losses by selling
.
In my example you could divorce over it - but you won't get the money back
.
In fact you'd lose 50% of whatever is left!
LR, So the club stands Black for around £13m as an individual, the same as Chelsea owe their owner and the same as Man U owe the dastardly pair. No difference.
The crux of the matter is, from what I have been told this evening by somebody at the club is as follows. Basically Black was feeling the pinch a while back in fact before the season began, but remained "committed to the cause" but was mindful that things had to be kept tight and budgets adhered to. That as we know didn't happen and the embargo was brought into being. That was the straw that broke the camels back. Wray was all too easily led by the manager. That tipped the scales. While the embargo was being sorted out Patey was sounded out to come in and "do a job", its mooted Wray was no longer trusted. He and PDC had had their budget, and then some, and its gone, that is basically what was said at the time.
Black has briefed Patey to find a suitable buyer, note the phrase , suitable, not just anybody who can splash the cash, suitable. It seems now there are people deemed suitable, so some "adjustments" need to be made to make the club look in reality what it is and not the dinosaur some would have us believe . Black I am told is happy and willing to write off the £13M if the right buyers are found, who can immediately pump money into the club. Administration is NOT on the menu right now. However this thorough audit type of operation which is presently being brought into being is to show prospective buyers, the ins, outs, warts and all of how the club is run, and where the money comes from and goes to,. I'm sure as an individual with your back ground you know all about this but others may not. In reality nothing has changed since Patey arrived, its just been under lined today what he is about. The board meeting on Saturday, if weather allows will be the crunch time depending what is agreed. Lets hope the sun shines on their decision.
Largely what I have heard from some very trusted sources. However, my sources also tell me we are losing fortunes on an ongoing basis. My guess (and it's only a guess) is that this is of the order of 30k a week. Any buyer could indeed probably acquire the club for nothing (with no debt) but 30k a week is a lot to find and is quite frankly beyond our means. It equates to 5000 extra fans per home game. Selling players only temporarily plugs the gap. The only long term answer is lower player wages and that, I'm afraid, means less quality on the pitch.
[quote][p][bold]the wizard[/bold] wrote: [quote][p][bold]London Red[/bold] wrote: Den he can want out - that's his choice . He just can't have the money back as the club doesn't have it . All he (and the other) can do is minimise losses by selling . In my example you could divorce over it - but you won't get the money back . In fact you'd lose 50% of whatever is left![/p][/quote]LR, So the club stands Black for around £13m as an individual, the same as Chelsea owe their owner and the same as Man U owe the dastardly pair. No difference. The crux of the matter is, from what I have been told this evening by somebody at the club is as follows. Basically Black was feeling the pinch a while back in fact before the season began, but remained "committed to the cause" but was mindful that things had to be kept tight and budgets adhered to. That as we know didn't happen and the embargo was brought into being. That was the straw that broke the camels back. Wray was all too easily led by the manager. That tipped the scales. While the embargo was being sorted out Patey was sounded out to come in and "do a job", its mooted Wray was no longer trusted. He and PDC had had their budget, and then some, and its gone, that is basically what was said at the time. Black has briefed Patey to find a suitable buyer, note the phrase , suitable, not just anybody who can splash the cash, suitable. It seems now there are people deemed suitable, so some "adjustments" need to be made to make the club look in reality what it is and not the dinosaur some would have us believe . Black I am told is happy and willing to write off the £13M if the right buyers are found, who can immediately pump money into the club. Administration is NOT on the menu right now. However this thorough audit type of operation which is presently being brought into being is to show prospective buyers, the ins, outs, warts and all of how the club is run, and where the money comes from and goes to,. I'm sure as an individual with your back ground you know all about this but others may not. In reality nothing has changed since Patey arrived, its just been under lined today what he is about. The board meeting on Saturday, if weather allows will be the crunch time depending what is agreed. Lets hope the sun shines on their decision.[/p][/quote]Largely what I have heard from some very trusted sources. However, my sources also tell me we are losing fortunes on an ongoing basis. My guess (and it's only a guess) is that this is of the order of 30k a week. Any buyer could indeed probably acquire the club for nothing (with no debt) but 30k a week is a lot to find and is quite frankly beyond our means. It equates to 5000 extra fans per home game. Selling players only temporarily plugs the gap. The only long term answer is lower player wages and that, I'm afraid, means less quality on the pitch. Paynter Boy

9:38pm Thu 17 Jan 13

the wizard says...

Paynter Boy,

Cheers, thanks for that, and this is why our manager is sticking to his guns over getting something for Benson. I think paying up Risser to go may have been setting a standard which others may feel they are entitled too, damned if you do, and damned if you don't. I still think if admin does become a reality we can still make the play offs. I don't see the manager as a quitter, but if we do go into admin faces will disappear, from the team and coaching staff.

Many buckets needed, and the money to paid into the club, because the Trust doesn't pay weekly wages.
Paynter Boy, Cheers, thanks for that, and this is why our manager is sticking to his guns over getting something for Benson. I think paying up Risser to go may have been setting a standard which others may feel they are entitled too, damned if you do, and damned if you don't. I still think if admin does become a reality we can still make the play offs. I don't see the manager as a quitter, but if we do go into admin faces will disappear, from the team and coaching staff. Many buckets needed, and the money to paid into the club, because the Trust doesn't pay weekly wages. the wizard

9:40pm Thu 17 Jan 13

Wilesy says...

So the heading on the front menu page is "Swindon Town consider administration as club searches for new investors" but when you click on it the heading on the actual article heading is "Town board will meet to discuss financial restructure"

For me this in the top 3 Adver sensationalist howlers of the last 3 months together with the 'signing' of Luke McCormick and the Miles Storey 'This Is your Life' day.

Maybe the next headline will be "Mystery man pumps £3 million into the club" switched to "Mystery man buys a £3 programme"
So the heading on the front menu page is "Swindon Town consider administration as club searches for new investors" but when you click on it the heading on the actual article heading is "Town board will meet to discuss financial restructure" For me this in the top 3 Adver sensationalist howlers of the last 3 months together with the 'signing' of Luke McCormick and the Miles Storey 'This Is your Life' day. Maybe the next headline will be "Mystery man pumps £3 million into the club" switched to "Mystery man buys a £3 programme" Wilesy

9:54pm Thu 17 Jan 13

the wizard says...

Wilesy wrote:
So the heading on the front menu page is "Swindon Town consider administration as club searches for new investors" but when you click on it the heading on the actual article heading is "Town board will meet to discuss financial restructure"

For me this in the top 3 Adver sensationalist howlers of the last 3 months together with the 'signing' of Luke McCormick and the Miles Storey 'This Is your Life' day.

Maybe the next headline will be "Mystery man pumps £3 million into the club" switched to "Mystery man buys a £3 programme"
Wilesy,

How are you mate ? Happy New Year.

Well as we debated at Supermarine that evening life as a Town Supporter is seldom uneventful and rarely boring. The reason s for that seem to rock'n'roll from the sublime to the ridiculous, to the unheard of, all of which is pretty true.

Black is looking at damage limitation now as his other empire, his main wad, is under pressure as he re aligns his investments. Not putting too fine a point to matters, through being a bit nieve our manager and Wray pooped in the nest, the sad part is that Troy has hardly lived up to the billing and I think we should be chasing Exeter for a refund as they clearly sold us damaged goods. In the larger scheme it doesn't equate to a lot on the money front, but its the straw that broke the camels back.
[quote][p][bold]Wilesy[/bold] wrote: So the heading on the front menu page is "Swindon Town consider administration as club searches for new investors" but when you click on it the heading on the actual article heading is "Town board will meet to discuss financial restructure" For me this in the top 3 Adver sensationalist howlers of the last 3 months together with the 'signing' of Luke McCormick and the Miles Storey 'This Is your Life' day. Maybe the next headline will be "Mystery man pumps £3 million into the club" switched to "Mystery man buys a £3 programme"[/p][/quote]Wilesy, How are you mate ? Happy New Year. Well as we debated at Supermarine that evening life as a Town Supporter is seldom uneventful and rarely boring. The reason s for that seem to rock'n'roll from the sublime to the ridiculous, to the unheard of, all of which is pretty true. Black is looking at damage limitation now as his other empire, his main wad, is under pressure as he re aligns his investments. Not putting too fine a point to matters, through being a bit nieve our manager and Wray pooped in the nest, the sad part is that Troy has hardly lived up to the billing and I think we should be chasing Exeter for a refund as they clearly sold us damaged goods. In the larger scheme it doesn't equate to a lot on the money front, but its the straw that broke the camels back. the wizard

10:07pm Thu 17 Jan 13

DansAFCB says...

Going down with Pompey! !!!! Teach you lot to Swindle everyone and bring you down to earth!

Come on Bournemouth! !!!!
Going down with Pompey! !!!! Teach you lot to Swindle everyone and bring you down to earth! Come on Bournemouth! !!!! DansAFCB

10:13pm Thu 17 Jan 13

Oi Den! says...

the wizard wrote:
London Red wrote: Den he can want out - that's his choice . He just can't have the money back as the club doesn't have it . All he (and the other) can do is minimise losses by selling . In my example you could divorce over it - but you won't get the money back . In fact you'd lose 50% of whatever is left!
LR, So the club stands Black for around £13m as an individual, the same as Chelsea owe their owner and the same as Man U owe the dastardly pair. No difference. The crux of the matter is, from what I have been told this evening by somebody at the club is as follows. Basically Black was feeling the pinch a while back in fact before the season began, but remained "committed to the cause" but was mindful that things had to be kept tight and budgets adhered to. That as we know didn't happen and the embargo was brought into being. That was the straw that broke the camels back. Wray was all too easily led by the manager. That tipped the scales. While the embargo was being sorted out Patey was sounded out to come in and "do a job", its mooted Wray was no longer trusted. He and PDC had had their budget, and then some, and its gone, that is basically what was said at the time. Black has briefed Patey to find a suitable buyer, note the phrase , suitable, not just anybody who can splash the cash, suitable. It seems now there are people deemed suitable, so some "adjustments" need to be made to make the club look in reality what it is and not the dinosaur some would have us believe . Black I am told is happy and willing to write off the £13M if the right buyers are found, who can immediately pump money into the club. Administration is NOT on the menu right now. However this thorough audit type of operation which is presently being brought into being is to show prospective buyers, the ins, outs, warts and all of how the club is run, and where the money comes from and goes to,. I'm sure as an individual with your back ground you know all about this but others may not. In reality nothing has changed since Patey arrived, its just been under lined today what he is about. The board meeting on Saturday, if weather allows will be the crunch time depending what is agreed. Lets hope the sun shines on their decision.
Sounds like a pretty likely explanation Wiz. Not sure I'd be too confident about anyone being prepared to give away millions just like that though, but if Black really does end up doing it, he'll write himself into STFC legend.
[quote][p][bold]the wizard[/bold] wrote: [quote][p][bold]London Red[/bold] wrote: Den he can want out - that's his choice . He just can't have the money back as the club doesn't have it . All he (and the other) can do is minimise losses by selling . In my example you could divorce over it - but you won't get the money back . In fact you'd lose 50% of whatever is left![/p][/quote]LR, So the club stands Black for around £13m as an individual, the same as Chelsea owe their owner and the same as Man U owe the dastardly pair. No difference. The crux of the matter is, from what I have been told this evening by somebody at the club is as follows. Basically Black was feeling the pinch a while back in fact before the season began, but remained "committed to the cause" but was mindful that things had to be kept tight and budgets adhered to. That as we know didn't happen and the embargo was brought into being. That was the straw that broke the camels back. Wray was all too easily led by the manager. That tipped the scales. While the embargo was being sorted out Patey was sounded out to come in and "do a job", its mooted Wray was no longer trusted. He and PDC had had their budget, and then some, and its gone, that is basically what was said at the time. Black has briefed Patey to find a suitable buyer, note the phrase , suitable, not just anybody who can splash the cash, suitable. It seems now there are people deemed suitable, so some "adjustments" need to be made to make the club look in reality what it is and not the dinosaur some would have us believe . Black I am told is happy and willing to write off the £13M if the right buyers are found, who can immediately pump money into the club. Administration is NOT on the menu right now. However this thorough audit type of operation which is presently being brought into being is to show prospective buyers, the ins, outs, warts and all of how the club is run, and where the money comes from and goes to,. I'm sure as an individual with your back ground you know all about this but others may not. In reality nothing has changed since Patey arrived, its just been under lined today what he is about. The board meeting on Saturday, if weather allows will be the crunch time depending what is agreed. Lets hope the sun shines on their decision.[/p][/quote]Sounds like a pretty likely explanation Wiz. Not sure I'd be too confident about anyone being prepared to give away millions just like that though, but if Black really does end up doing it, he'll write himself into STFC legend. Oi Den!

10:44pm Thu 17 Jan 13

the wizard says...

Oi Den! wrote:
the wizard wrote:
London Red wrote: Den he can want out - that's his choice . He just can't have the money back as the club doesn't have it . All he (and the other) can do is minimise losses by selling . In my example you could divorce over it - but you won't get the money back . In fact you'd lose 50% of whatever is left!
LR, So the club stands Black for around £13m as an individual, the same as Chelsea owe their owner and the same as Man U owe the dastardly pair. No difference. The crux of the matter is, from what I have been told this evening by somebody at the club is as follows. Basically Black was feeling the pinch a while back in fact before the season began, but remained "committed to the cause" but was mindful that things had to be kept tight and budgets adhered to. That as we know didn't happen and the embargo was brought into being. That was the straw that broke the camels back. Wray was all too easily led by the manager. That tipped the scales. While the embargo was being sorted out Patey was sounded out to come in and "do a job", its mooted Wray was no longer trusted. He and PDC had had their budget, and then some, and its gone, that is basically what was said at the time. Black has briefed Patey to find a suitable buyer, note the phrase , suitable, not just anybody who can splash the cash, suitable. It seems now there are people deemed suitable, so some "adjustments" need to be made to make the club look in reality what it is and not the dinosaur some would have us believe . Black I am told is happy and willing to write off the £13M if the right buyers are found, who can immediately pump money into the club. Administration is NOT on the menu right now. However this thorough audit type of operation which is presently being brought into being is to show prospective buyers, the ins, outs, warts and all of how the club is run, and where the money comes from and goes to,. I'm sure as an individual with your back ground you know all about this but others may not. In reality nothing has changed since Patey arrived, its just been under lined today what he is about. The board meeting on Saturday, if weather allows will be the crunch time depending what is agreed. Lets hope the sun shines on their decision.
Sounds like a pretty likely explanation Wiz. Not sure I'd be too confident about anyone being prepared to give away millions just like that though, but if Black really does end up doing it, he'll write himself into STFC legend.
TBH I think he will get something back, around half and I think he will be happy with that from what I'm told. Thing is, people who have had contact with him say he is a very decent bloke and it seems he on a personal basis is between a rock and a hard place with a lot of this, and really doesn't want to court any lime light, and imo doesn't deserve the notoriety some are giving him, well out of order.
[quote][p][bold]Oi Den![/bold] wrote: [quote][p][bold]the wizard[/bold] wrote: [quote][p][bold]London Red[/bold] wrote: Den he can want out - that's his choice . He just can't have the money back as the club doesn't have it . All he (and the other) can do is minimise losses by selling . In my example you could divorce over it - but you won't get the money back . In fact you'd lose 50% of whatever is left![/p][/quote]LR, So the club stands Black for around £13m as an individual, the same as Chelsea owe their owner and the same as Man U owe the dastardly pair. No difference. The crux of the matter is, from what I have been told this evening by somebody at the club is as follows. Basically Black was feeling the pinch a while back in fact before the season began, but remained "committed to the cause" but was mindful that things had to be kept tight and budgets adhered to. That as we know didn't happen and the embargo was brought into being. That was the straw that broke the camels back. Wray was all too easily led by the manager. That tipped the scales. While the embargo was being sorted out Patey was sounded out to come in and "do a job", its mooted Wray was no longer trusted. He and PDC had had their budget, and then some, and its gone, that is basically what was said at the time. Black has briefed Patey to find a suitable buyer, note the phrase , suitable, not just anybody who can splash the cash, suitable. It seems now there are people deemed suitable, so some "adjustments" need to be made to make the club look in reality what it is and not the dinosaur some would have us believe . Black I am told is happy and willing to write off the £13M if the right buyers are found, who can immediately pump money into the club. Administration is NOT on the menu right now. However this thorough audit type of operation which is presently being brought into being is to show prospective buyers, the ins, outs, warts and all of how the club is run, and where the money comes from and goes to,. I'm sure as an individual with your back ground you know all about this but others may not. In reality nothing has changed since Patey arrived, its just been under lined today what he is about. The board meeting on Saturday, if weather allows will be the crunch time depending what is agreed. Lets hope the sun shines on their decision.[/p][/quote]Sounds like a pretty likely explanation Wiz. Not sure I'd be too confident about anyone being prepared to give away millions just like that though, but if Black really does end up doing it, he'll write himself into STFC legend.[/p][/quote]TBH I think he will get something back, around half and I think he will be happy with that from what I'm told. Thing is, people who have had contact with him say he is a very decent bloke and it seems he on a personal basis is between a rock and a hard place with a lot of this, and really doesn't want to court any lime light, and imo doesn't deserve the notoriety some are giving him, well out of order. the wizard

10:48pm Thu 17 Jan 13

the wizard says...

DansAFCB wrote:
Going down with Pompey! !!!! Teach you lot to Swindle everyone and bring you down to earth!

Come on Bournemouth! !!!!
Obviously just woken up and fell out of your nest. When you learn to fly you may be able to get back in it, obviously a better place for you as you know not of the workings of the big wide world. Time for Mummy to read you another story perhaps, how about the one where all the dodgy owners and Redknapp money launder your club to obscurity. Now that is nearly a true story but perhaps a bit too close to home for you to understand, der....rrrrrrr...
[quote][p][bold]DansAFCB[/bold] wrote: Going down with Pompey! !!!! Teach you lot to Swindle everyone and bring you down to earth! Come on Bournemouth! !!!![/p][/quote]Obviously just woken up and fell out of your nest. When you learn to fly you may be able to get back in it, obviously a better place for you as you know not of the workings of the big wide world. Time for Mummy to read you another story perhaps, how about the one where all the dodgy owners and Redknapp money launder your club to obscurity. Now that is nearly a true story but perhaps a bit too close to home for you to understand, der....rrrrrrr... the wizard

10:49pm Thu 17 Jan 13

Wilesy says...

the wizard wrote:
Wilesy wrote:
So the heading on the front menu page is "Swindon Town consider administration as club searches for new investors" but when you click on it the heading on the actual article heading is "Town board will meet to discuss financial restructure"

For me this in the top 3 Adver sensationalist howlers of the last 3 months together with the 'signing' of Luke McCormick and the Miles Storey 'This Is your Life' day.

Maybe the next headline will be "Mystery man pumps £3 million into the club" switched to "Mystery man buys a £3 programme"
Wilesy,

How are you mate ? Happy New Year.

Well as we debated at Supermarine that evening life as a Town Supporter is seldom uneventful and rarely boring. The reason s for that seem to rock'n'roll from the sublime to the ridiculous, to the unheard of, all of which is pretty true.

Black is looking at damage limitation now as his other empire, his main wad, is under pressure as he re aligns his investments. Not putting too fine a point to matters, through being a bit nieve our manager and Wray pooped in the nest, the sad part is that Troy has hardly lived up to the billing and I think we should be chasing Exeter for a refund as they clearly sold us damaged goods. In the larger scheme it doesn't equate to a lot on the money front, but its the straw that broke the camels back.
Hey Wiz, fun and games indeed today. Apparently there will be words from the Mr Black in the Adver tomorrow so will be interesting to read that. No issue with him leaving providing we're not left up the creek without the paddle!
[quote][p][bold]the wizard[/bold] wrote: [quote][p][bold]Wilesy[/bold] wrote: So the heading on the front menu page is "Swindon Town consider administration as club searches for new investors" but when you click on it the heading on the actual article heading is "Town board will meet to discuss financial restructure" For me this in the top 3 Adver sensationalist howlers of the last 3 months together with the 'signing' of Luke McCormick and the Miles Storey 'This Is your Life' day. Maybe the next headline will be "Mystery man pumps £3 million into the club" switched to "Mystery man buys a £3 programme"[/p][/quote]Wilesy, How are you mate ? Happy New Year. Well as we debated at Supermarine that evening life as a Town Supporter is seldom uneventful and rarely boring. The reason s for that seem to rock'n'roll from the sublime to the ridiculous, to the unheard of, all of which is pretty true. Black is looking at damage limitation now as his other empire, his main wad, is under pressure as he re aligns his investments. Not putting too fine a point to matters, through being a bit nieve our manager and Wray pooped in the nest, the sad part is that Troy has hardly lived up to the billing and I think we should be chasing Exeter for a refund as they clearly sold us damaged goods. In the larger scheme it doesn't equate to a lot on the money front, but its the straw that broke the camels back.[/p][/quote]Hey Wiz, fun and games indeed today. Apparently there will be words from the Mr Black in the Adver tomorrow so will be interesting to read that. No issue with him leaving providing we're not left up the creek without the paddle! Wilesy

11:17pm Thu 17 Jan 13

joey butler says...

TommyMooney wrote:
It's such a shame that Swindon intend to walk away from their debts again.

It's about time criminals like this football club were driven out of business with the ground bulldozed and all merchanise burnt.

If I had my way Swindon Town would also be purged from all historical records as everything they have ever achieved was paid for with stolen money.

The fans are mainly to blame too in encouraging the reckless spending in the first place. Season ticket holders should be traced and made to pay back every penny - it would only be about three and a half thousand pounds each - and then maybe next time when the board are on the fiddle they might do something instead of being a consenting party to criminality.
I am happy to meet you at any time and any place Tommy and we can discuss this man to man.

I doubt you have the b*llocks!

I live in Hereford, so the drive to Oxford is no problem, DICK!!!!!
[quote][p][bold]TommyMooney[/bold] wrote: It's such a shame that Swindon intend to walk away from their debts again. It's about time criminals like this football club were driven out of business with the ground bulldozed and all merchanise burnt. If I had my way Swindon Town would also be purged from all historical records as everything they have ever achieved was paid for with stolen money. The fans are mainly to blame too in encouraging the reckless spending in the first place. Season ticket holders should be traced and made to pay back every penny - it would only be about three and a half thousand pounds each - and then maybe next time when the board are on the fiddle they might do something instead of being a consenting party to criminality.[/p][/quote]I am happy to meet you at any time and any place Tommy and we can discuss this man to man. I doubt you have the b*llocks! I live in Hereford, so the drive to Oxford is no problem, DICK!!!!! joey butler

11:30pm Thu 17 Jan 13

Oi Den! says...

the wizard wrote:
Oi Den! wrote:
the wizard wrote:
London Red wrote: Den he can want out - that's his choice . He just can't have the money back as the club doesn't have it . All he (and the other) can do is minimise losses by selling . In my example you could divorce over it - but you won't get the money back . In fact you'd lose 50% of whatever is left!
LR, So the club stands Black for around £13m as an individual, the same as Chelsea owe their owner and the same as Man U owe the dastardly pair. No difference. The crux of the matter is, from what I have been told this evening by somebody at the club is as follows. Basically Black was feeling the pinch a while back in fact before the season began, but remained "committed to the cause" but was mindful that things had to be kept tight and budgets adhered to. That as we know didn't happen and the embargo was brought into being. That was the straw that broke the camels back. Wray was all too easily led by the manager. That tipped the scales. While the embargo was being sorted out Patey was sounded out to come in and "do a job", its mooted Wray was no longer trusted. He and PDC had had their budget, and then some, and its gone, that is basically what was said at the time. Black has briefed Patey to find a suitable buyer, note the phrase , suitable, not just anybody who can splash the cash, suitable. It seems now there are people deemed suitable, so some "adjustments" need to be made to make the club look in reality what it is and not the dinosaur some would have us believe . Black I am told is happy and willing to write off the £13M if the right buyers are found, who can immediately pump money into the club. Administration is NOT on the menu right now. However this thorough audit type of operation which is presently being brought into being is to show prospective buyers, the ins, outs, warts and all of how the club is run, and where the money comes from and goes to,. I'm sure as an individual with your back ground you know all about this but others may not. In reality nothing has changed since Patey arrived, its just been under lined today what he is about. The board meeting on Saturday, if weather allows will be the crunch time depending what is agreed. Lets hope the sun shines on their decision.
Sounds like a pretty likely explanation Wiz. Not sure I'd be too confident about anyone being prepared to give away millions just like that though, but if Black really does end up doing it, he'll write himself into STFC legend.
TBH I think he will get something back, around half and I think he will be happy with that from what I'm told. Thing is, people who have had contact with him say he is a very decent bloke and it seems he on a personal basis is between a rock and a hard place with a lot of this, and really doesn't want to court any lime light, and imo doesn't deserve the notoriety some are giving him, well out of order.
Well said Wiz. I wouldn't knock him either. Would still be interested to know what the original incentive was for him.
Intriguing words from Watkins today. "No money owed to anyone except Fitton, Arbib and Black". No Wray - which presumably means he's either had his money back or has waived the debt. Either way, I wouldn't be at all surprised if he's part of one of the consortia now showing interest. It would be ironic if one of our new benefactors turns out to be Ed Wray, co-founder of Betfair with Andrew Black.
[quote][p][bold]the wizard[/bold] wrote: [quote][p][bold]Oi Den![/bold] wrote: [quote][p][bold]the wizard[/bold] wrote: [quote][p][bold]London Red[/bold] wrote: Den he can want out - that's his choice . He just can't have the money back as the club doesn't have it . All he (and the other) can do is minimise losses by selling . In my example you could divorce over it - but you won't get the money back . In fact you'd lose 50% of whatever is left![/p][/quote]LR, So the club stands Black for around £13m as an individual, the same as Chelsea owe their owner and the same as Man U owe the dastardly pair. No difference. The crux of the matter is, from what I have been told this evening by somebody at the club is as follows. Basically Black was feeling the pinch a while back in fact before the season began, but remained "committed to the cause" but was mindful that things had to be kept tight and budgets adhered to. That as we know didn't happen and the embargo was brought into being. That was the straw that broke the camels back. Wray was all too easily led by the manager. That tipped the scales. While the embargo was being sorted out Patey was sounded out to come in and "do a job", its mooted Wray was no longer trusted. He and PDC had had their budget, and then some, and its gone, that is basically what was said at the time. Black has briefed Patey to find a suitable buyer, note the phrase , suitable, not just anybody who can splash the cash, suitable. It seems now there are people deemed suitable, so some "adjustments" need to be made to make the club look in reality what it is and not the dinosaur some would have us believe . Black I am told is happy and willing to write off the £13M if the right buyers are found, who can immediately pump money into the club. Administration is NOT on the menu right now. However this thorough audit type of operation which is presently being brought into being is to show prospective buyers, the ins, outs, warts and all of how the club is run, and where the money comes from and goes to,. I'm sure as an individual with your back ground you know all about this but others may not. In reality nothing has changed since Patey arrived, its just been under lined today what he is about. The board meeting on Saturday, if weather allows will be the crunch time depending what is agreed. Lets hope the sun shines on their decision.[/p][/quote]Sounds like a pretty likely explanation Wiz. Not sure I'd be too confident about anyone being prepared to give away millions just like that though, but if Black really does end up doing it, he'll write himself into STFC legend.[/p][/quote]TBH I think he will get something back, around half and I think he will be happy with that from what I'm told. Thing is, people who have had contact with him say he is a very decent bloke and it seems he on a personal basis is between a rock and a hard place with a lot of this, and really doesn't want to court any lime light, and imo doesn't deserve the notoriety some are giving him, well out of order.[/p][/quote]Well said Wiz. I wouldn't knock him either. Would still be interested to know what the original incentive was for him. Intriguing words from Watkins today. "No money owed to anyone except Fitton, Arbib and Black". No Wray - which presumably means he's either had his money back or has waived the debt. Either way, I wouldn't be at all surprised if he's part of one of the consortia now showing interest. It would be ironic if one of our new benefactors turns out to be Ed Wray, co-founder of Betfair with Andrew Black. Oi Den!

11:32pm Thu 17 Jan 13

TommyMooney says...

joey butler wrote:
TommyMooney wrote:
It's such a shame that Swindon intend to walk away from their debts again.

It's about time criminals like this football club were driven out of business with the ground bulldozed and all merchanise burnt.

If I had my way Swindon Town would also be purged from all historical records as everything they have ever achieved was paid for with stolen money.

The fans are mainly to blame too in encouraging the reckless spending in the first place. Season ticket holders should be traced and made to pay back every penny - it would only be about three and a half thousand pounds each - and then maybe next time when the board are on the fiddle they might do something instead of being a consenting party to criminality.
I am happy to meet you at any time and any place Tommy and we can discuss this man to man.

I doubt you have the b*llocks!

I live in Hereford, so the drive to Oxford is no problem, DICK!!!!!
Fair enough 'Joey' I happen to be in Oxford town centre tomorrow.

Accordingly I'll see you at Carfax tomorrow at 11am.

I'm 6'4", bald head and I'm 37 years old, I will wear a green shirt and brown leather jacket.

See you tomorrow poppet. x x
[quote][p][bold]joey butler[/bold] wrote: [quote][p][bold]TommyMooney[/bold] wrote: It's such a shame that Swindon intend to walk away from their debts again. It's about time criminals like this football club were driven out of business with the ground bulldozed and all merchanise burnt. If I had my way Swindon Town would also be purged from all historical records as everything they have ever achieved was paid for with stolen money. The fans are mainly to blame too in encouraging the reckless spending in the first place. Season ticket holders should be traced and made to pay back every penny - it would only be about three and a half thousand pounds each - and then maybe next time when the board are on the fiddle they might do something instead of being a consenting party to criminality.[/p][/quote]I am happy to meet you at any time and any place Tommy and we can discuss this man to man. I doubt you have the b*llocks! I live in Hereford, so the drive to Oxford is no problem, DICK!!!!![/p][/quote]Fair enough 'Joey' I happen to be in Oxford town centre tomorrow. Accordingly I'll see you at Carfax tomorrow at 11am. I'm 6'4", bald head and I'm 37 years old, I will wear a green shirt and brown leather jacket. See you tomorrow poppet. x x TommyMooney

11:40pm Thu 17 Jan 13

joey butler says...

TommyMooney wrote:
joey butler wrote:
TommyMooney wrote:
It's such a shame that Swindon intend to walk away from their debts again.

It's about time criminals like this football club were driven out of business with the ground bulldozed and all merchanise burnt.

If I had my way Swindon Town would also be purged from all historical records as everything they have ever achieved was paid for with stolen money.

The fans are mainly to blame too in encouraging the reckless spending in the first place. Season ticket holders should be traced and made to pay back every penny - it would only be about three and a half thousand pounds each - and then maybe next time when the board are on the fiddle they might do something instead of being a consenting party to criminality.
I am happy to meet you at any time and any place Tommy and we can discuss this man to man.

I doubt you have the b*llocks!

I live in Hereford, so the drive to Oxford is no problem, DICK!!!!!
Fair enough 'Joey' I happen to be in Oxford town centre tomorrow.

Accordingly I'll see you at Carfax tomorrow at 11am.

I'm 6'4", bald head and I'm 37 years old, I will wear a green shirt and brown leather jacket.

See you tomorrow poppet. x x
Outside Boots is fine by me, Poppet!!
[quote][p][bold]TommyMooney[/bold] wrote: [quote][p][bold]joey butler[/bold] wrote: [quote][p][bold]TommyMooney[/bold] wrote: It's such a shame that Swindon intend to walk away from their debts again. It's about time criminals like this football club were driven out of business with the ground bulldozed and all merchanise burnt. If I had my way Swindon Town would also be purged from all historical records as everything they have ever achieved was paid for with stolen money. The fans are mainly to blame too in encouraging the reckless spending in the first place. Season ticket holders should be traced and made to pay back every penny - it would only be about three and a half thousand pounds each - and then maybe next time when the board are on the fiddle they might do something instead of being a consenting party to criminality.[/p][/quote]I am happy to meet you at any time and any place Tommy and we can discuss this man to man. I doubt you have the b*llocks! I live in Hereford, so the drive to Oxford is no problem, DICK!!!!![/p][/quote]Fair enough 'Joey' I happen to be in Oxford town centre tomorrow. Accordingly I'll see you at Carfax tomorrow at 11am. I'm 6'4", bald head and I'm 37 years old, I will wear a green shirt and brown leather jacket. See you tomorrow poppet. x x[/p][/quote]Outside Boots is fine by me, Poppet!! joey butler

11:50pm Thu 17 Jan 13

TommyMooney says...

joey butler wrote:
TommyMooney wrote:
joey butler wrote:
TommyMooney wrote:
It's such a shame that Swindon intend to walk away from their debts again.

It's about time criminals like this football club were driven out of business with the ground bulldozed and all merchanise burnt.

If I had my way Swindon Town would also be purged from all historical records as everything they have ever achieved was paid for with stolen money.

The fans are mainly to blame too in encouraging the reckless spending in the first place. Season ticket holders should be traced and made to pay back every penny - it would only be about three and a half thousand pounds each - and then maybe next time when the board are on the fiddle they might do something instead of being a consenting party to criminality.
I am happy to meet you at any time and any place Tommy and we can discuss this man to man.

I doubt you have the b*llocks!

I live in Hereford, so the drive to Oxford is no problem, DICK!!!!!
Fair enough 'Joey' I happen to be in Oxford town centre tomorrow.

Accordingly I'll see you at Carfax tomorrow at 11am.

I'm 6'4", bald head and I'm 37 years old, I will wear a green shirt and brown leather jacket.

See you tomorrow poppet. x x
Outside Boots is fine by me, Poppet!!
Boots? What are you talking about. Outside Carfax. It's easier.

Plus, what do you look like? I'm 22 stone btw so I expect you'll have a look and leg it and, although I doubt I'll catch you up, it's always nice to know who's run away.
[quote][p][bold]joey butler[/bold] wrote: [quote][p][bold]TommyMooney[/bold] wrote: [quote][p][bold]joey butler[/bold] wrote: [quote][p][bold]TommyMooney[/bold] wrote: It's such a shame that Swindon intend to walk away from their debts again. It's about time criminals like this football club were driven out of business with the ground bulldozed and all merchanise burnt. If I had my way Swindon Town would also be purged from all historical records as everything they have ever achieved was paid for with stolen money. The fans are mainly to blame too in encouraging the reckless spending in the first place. Season ticket holders should be traced and made to pay back every penny - it would only be about three and a half thousand pounds each - and then maybe next time when the board are on the fiddle they might do something instead of being a consenting party to criminality.[/p][/quote]I am happy to meet you at any time and any place Tommy and we can discuss this man to man. I doubt you have the b*llocks! I live in Hereford, so the drive to Oxford is no problem, DICK!!!!![/p][/quote]Fair enough 'Joey' I happen to be in Oxford town centre tomorrow. Accordingly I'll see you at Carfax tomorrow at 11am. I'm 6'4", bald head and I'm 37 years old, I will wear a green shirt and brown leather jacket. See you tomorrow poppet. x x[/p][/quote]Outside Boots is fine by me, Poppet!![/p][/quote]Boots? What are you talking about. Outside Carfax. It's easier. Plus, what do you look like? I'm 22 stone btw so I expect you'll have a look and leg it and, although I doubt I'll catch you up, it's always nice to know who's run away. TommyMooney

12:11am Fri 18 Jan 13

joey butler says...

TommyMooney wrote:
joey butler wrote:
TommyMooney wrote:
joey butler wrote:
TommyMooney wrote:
It's such a shame that Swindon intend to walk away from their debts again.

It's about time criminals like this football club were driven out of business with the ground bulldozed and all merchanise burnt.

If I had my way Swindon Town would also be purged from all historical records as everything they have ever achieved was paid for with stolen money.

The fans are mainly to blame too in encouraging the reckless spending in the first place. Season ticket holders should be traced and made to pay back every penny - it would only be about three and a half thousand pounds each - and then maybe next time when the board are on the fiddle they might do something instead of being a consenting party to criminality.
I am happy to meet you at any time and any place Tommy and we can discuss this man to man.

I doubt you have the b*llocks!

I live in Hereford, so the drive to Oxford is no problem, DICK!!!!!
Fair enough 'Joey' I happen to be in Oxford town centre tomorrow.

Accordingly I'll see you at Carfax tomorrow at 11am.

I'm 6'4", bald head and I'm 37 years old, I will wear a green shirt and brown leather jacket.

See you tomorrow poppet. x x
Outside Boots is fine by me, Poppet!!
Boots? What are you talking about. Outside Carfax. It's easier.

Plus, what do you look like? I'm 22 stone btw so I expect you'll have a look and leg it and, although I doubt I'll catch you up, it's always nice to know who's run away.
Don't think you know Oxford at all DICK!!!

If you did, you would know that Boots is just around the corner from Carfax.

By the way, fat gits of 22 stone like you are no problem, you just go down even quicker and cannot get back up, Poppet!!

Has Mummy tucked you in yet?
[quote][p][bold]TommyMooney[/bold] wrote: [quote][p][bold]joey butler[/bold] wrote: [quote][p][bold]TommyMooney[/bold] wrote: [quote][p][bold]joey butler[/bold] wrote: [quote][p][bold]TommyMooney[/bold] wrote: It's such a shame that Swindon intend to walk away from their debts again. It's about time criminals like this football club were driven out of business with the ground bulldozed and all merchanise burnt. If I had my way Swindon Town would also be purged from all historical records as everything they have ever achieved was paid for with stolen money. The fans are mainly to blame too in encouraging the reckless spending in the first place. Season ticket holders should be traced and made to pay back every penny - it would only be about three and a half thousand pounds each - and then maybe next time when the board are on the fiddle they might do something instead of being a consenting party to criminality.[/p][/quote]I am happy to meet you at any time and any place Tommy and we can discuss this man to man. I doubt you have the b*llocks! I live in Hereford, so the drive to Oxford is no problem, DICK!!!!![/p][/quote]Fair enough 'Joey' I happen to be in Oxford town centre tomorrow. Accordingly I'll see you at Carfax tomorrow at 11am. I'm 6'4", bald head and I'm 37 years old, I will wear a green shirt and brown leather jacket. See you tomorrow poppet. x x[/p][/quote]Outside Boots is fine by me, Poppet!![/p][/quote]Boots? What are you talking about. Outside Carfax. It's easier. Plus, what do you look like? I'm 22 stone btw so I expect you'll have a look and leg it and, although I doubt I'll catch you up, it's always nice to know who's run away.[/p][/quote]Don't think you know Oxford at all DICK!!! If you did, you would know that Boots is just around the corner from Carfax. By the way, fat gits of 22 stone like you are no problem, you just go down even quicker and cannot get back up, Poppet!! Has Mummy tucked you in yet? joey butler

12:21am Fri 18 Jan 13

TommyMooney says...

Hmm, so a man of mystery are we 'Joey' or just a little bit scared to describe yourself? Whatever. Just be there tomorrow. I'll be there from 11 till 11.15.

I take it that you don't work as apparently you can just appear in a city at any given time so I'm surprised you can afford the petrol. Nevertheless, like a mug, I'll still waste a few minutes tomorrow.
Hmm, so a man of mystery are we 'Joey' or just a little bit scared to describe yourself? Whatever. Just be there tomorrow. I'll be there from 11 till 11.15. I take it that you don't work as apparently you can just appear in a city at any given time so I'm surprised you can afford the petrol. Nevertheless, like a mug, I'll still waste a few minutes tomorrow. TommyMooney

1:18am Fri 18 Jan 13

Oxon-Red says...

Sounds like there is Sumo wrestling at Carfax in Oxford tomorrow.

Joey Butler versus Kassamamato

COYMR
Sounds like there is Sumo wrestling at Carfax in Oxford tomorrow. Joey Butler versus Kassamamato COYMR Oxon-Red

8:03am Fri 18 Jan 13

jayden says...

TommyMooney wrote:
Hmm, so a man of mystery are we 'Joey' or just a little bit scared to describe yourself? Whatever. Just be there tomorrow. I'll be there from 11 till 11.15.

I take it that you don't work as apparently you can just appear in a city at any given time so I'm surprised you can afford the petrol. Nevertheless, like a mug, I'll still waste a few minutes tomorrow.
22 stone better set off now then .
[quote][p][bold]TommyMooney[/bold] wrote: Hmm, so a man of mystery are we 'Joey' or just a little bit scared to describe yourself? Whatever. Just be there tomorrow. I'll be there from 11 till 11.15. I take it that you don't work as apparently you can just appear in a city at any given time so I'm surprised you can afford the petrol. Nevertheless, like a mug, I'll still waste a few minutes tomorrow.[/p][/quote]22 stone better set off now then . jayden

8:37am Fri 18 Jan 13

Pewsham Red says...

DansAFCB wrote:
Going down with Pompey! !!!! Teach you lot to Swindle everyone and bring you down to earth!

Come on Bournemouth! !!!!
Clown. No-one has been swindled you idiot as we only owe shareholders like most clubs.

Fans like you are no credit to your club and the vast majority are decent people and I have met quite a few in my time.

Easy to be cocky now, my friend, but it won't be long before your nutty chairman swans off and mummy's boy Howe disappears to non-league leaving you to survive on 3500 crowds every Saturday.

What goes around comes around and you as a Bournemouth fan should know that better than most.
[quote][p][bold]DansAFCB[/bold] wrote: Going down with Pompey! !!!! Teach you lot to Swindle everyone and bring you down to earth! Come on Bournemouth! !!!![/p][/quote]Clown. No-one has been swindled you idiot as we only owe shareholders like most clubs. Fans like you are no credit to your club and the vast majority are decent people and I have met quite a few in my time. Easy to be cocky now, my friend, but it won't be long before your nutty chairman swans off and mummy's boy Howe disappears to non-league leaving you to survive on 3500 crowds every Saturday. What goes around comes around and you as a Bournemouth fan should know that better than most. Pewsham Red

9:47pm Fri 18 Jan 13

joey butler says...

Needless to say, the 22 stone Oxford Lard did not turn up.

I was there outside Boots in Cornmarket Street for 45 minutes this morning.
Needless to say, the 22 stone Oxford Lard did not turn up. I was there outside Boots in Cornmarket Street for 45 minutes this morning. joey butler

11:39am Sat 19 Jan 13

TommyMooney says...

Yes Joey. You travelled through the snow from Hereford yesterday morning, not knowing whether you'd be able to return home that day and then stood for 45 minutes at the wrong place before, presumably, travelling back home again.

What was your journey time poppet in the car that you really do own? Is it a Ferrari and everything? Did you buy it with all the money you get paid in that job that you do which bizarrely doesn't require you to actually go to and from which you can go anywhere anytime?

How old are you Joey?
Yes Joey. You travelled through the snow from Hereford yesterday morning, not knowing whether you'd be able to return home that day and then stood for 45 minutes at the wrong place before, presumably, travelling back home again. What was your journey time poppet in the car that you really do own? Is it a Ferrari and everything? Did you buy it with all the money you get paid in that job that you do which bizarrely doesn't require you to actually go to and from which you can go anywhere anytime? How old are you Joey? TommyMooney

3:33pm Sun 20 Jan 13

SimonPrice351 says...

Well, at least there are investors (Phil Spencer for one, but not Kirstie Allsopp) lined up, so let's see what happens.

I have heard that there is one party who is looking to do a deal in June - but is that too late?
Well, at least there are investors (Phil Spencer for one, but not Kirstie Allsopp) lined up, so let's see what happens. I have heard that there is one party who is looking to do a deal in June - but is that too late? SimonPrice351

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