'We had to sell Ritchie to keep the club alive' (From The Wiltshire Gazette and Herald)
Get involved! Send photos, video, news & views. Text WILTS GAZETTE to 80360 or email us
SWINDON TOWN: 'We had to sell Ritchie to keep the club alive'
6:00am Saturday 23rd February 2013 in Sport By Sam Morshead
Town chief executive Nick Watkins
SWINDON Town chief executive Nick Watkins has stressed that the club were within hours of potentially becoming insolvent before the deal to sell the Robins to Seebeck 87 Limited was reached.
With no further funding forthcoming from ex-majority shareholder Andrew Black and no money available from new chairman Jed McCrory’s consortium until the takeover was complete, Watkins says Town would have been unable to pay wages had Matt Ritchie not been sold to Bournemouth on January 30.
The money raised by the winger’s sale, which caused widespread dismay amongst fans at the time, effectively kept Swindon alive until McCrory & Co were able to finalise their deal – which received Football League approval on Thursday.
In an open and honest interview with the Advertiser, Watkins – who has been retained for now by the new owners of the club – once again emphasised that Ritchie’s sale was the only realistic chance the powers-that-be at the County Ground had to ensure the takeover of the Robins could take place.
“The thing to remember is that the timescales we were given to secure new ownership for the club were incredibly compressed, when you think that January 4 was when we started on this journey of finding new owners and trying to save the club from administration,” he said.
“The opportunity was appealing to a number of different consortiums but the timescales for some were too tight and they couldn’t get their ducks in a row, they couldn’t get the due diligence done in time, they couldn’t assemble the troops they needed to assemble to get the deal over the line.
“When Jed’s consortium signed heads of terms and moved towards the preparation of the sell and purchase agreement, one or two of those interested parties fell and way and said ‘we’re not going to get into a contract race here and if things don’t work out then we will revisit’.
“We gave them access to the data room but at the end of the day Jed McCrory’s crew were able to marshal their troops and get this deal over the line. The clock was ticking, we know how very close it came to midnight when we had to sell Matt Ritchie just to keep the club alive while we got this deal over the line.
“I can say here and now that the club was moving to a state of being insolvent because there were no funds coming in from the current owners and there were no funds available from the new owners because they hadn’t completed the transaction.
“It wouldn’t have been a question of administration but even to the point of salaries not being paid in January and the club not being able to function. It was that serious and therefore, at the end of the day, we all regretted having to take the action we’ve taken to let Matt go but it was the one offer we had on the table.
“It was a tangible cash offer and that cash allowed the club to continue in a solvent state until this consortium took over.
“We can certainly say that the club has moved into new and safe ownership. It lives to fight another day and we all hope that that day and the days beyond will allow the club to continue and flourish both on and off the field, and continue to provide entertainment and enjoyment for the people of Swindon.”
Though Watkins was understandably unable to comment on the new board’s policy regarding the redevelopment of the County Ground, he did suggest that McCrory’s partners have the relevant experience within the property sector to benefit the club.
He said: “It’s far too early (to talk about redevelopment). They have studied all the plans we’ve had to date with keen interest and they have got people on the board, or they have got with them who are not necessarily on the board but are involved behind the scenes, who are successful property people.
“I would imagine they will be there for pursuing the property opportunity with some degree of alacrity.”
Comments(59)
trowbridgeambler
says...
6:38am Sat 23 Feb 13
Sacrifice the few to save the many!
castle9
says...
7:37am Sat 23 Feb 13
..It's this last line that is more of a concern. New board obviously in it for the opportunity of trying to make money on redevelopment - as many others (St Modwen/Brady etc) have in the past.
But do they have the money to back investment on the pitch???
Since 1950
says...
7:43am Sat 23 Feb 13
stonehousered68
says...
7:59am Sat 23 Feb 13
Paolo reputation is looking very bedraggled at the moment. Seeking legal advisers, breaking into the club. Walking out at a crucial time . Mouthing off, dropping the captain, the list could go on.
Yet all of us have loved the ride to some extent . We must be grateful for what he has achieved and not be too sour. Life goes on. My worry for pdc is that he has in the week done himself no favours. I cannot see a premiership club choosing him as their manager at the moment.
mancrobin
says...
8:00am Sat 23 Feb 13
Like many, I am extremely grateful to Andrew Black but until these points are clarified there will be an air of distrust about the whole situation.
Helpme234
says...
8:08am Sat 23 Feb 13
Since 1950 wrote:That's the key issue which the apologists for Black are glossing over.
And who created the near impossible time frame? Let me think?
fatman
says...
8:15am Sat 23 Feb 13
TheDukeOfBanbury
says...
8:18am Sat 23 Feb 13
Yes we know.
His money, his choice.
TheDukeOfBanbury
says...
8:26am Sat 23 Feb 13
All what we had achieved in the last 18 months in the bin. I have spent a few quid as well and therefore why I (my opinion) remain very bitter.
Glad the whole episode is ending though.
From a football perspective and from a loyal supporter of STFC I have loved every minute and will remember the PDC era until I die and one for the grand kids,
Again why I get bitter when some of you within days slag him off.
I bet you were even cheering his name a few weeks ago..... knife and back as they say. Shame on you.
davel4848
says...
8:30am Sat 23 Feb 13
Helpme234 wrote:I thought I read somewhere that he's wanted out since 2011. That being the case, I can understand his frustration and need to sell the club quickly. Yes, the timing is not good but we've had hiccups as big as this before, so let's just get down to the CG and get behind the team this afternoon.
Since 1950 wrote:That's the key issue which the apologists for Black are glossing over.
And who created the near impossible time frame? Let me think?
You may not like what's happened and the vast majority of us loved Paolo and what he's done but he's gone and we can't do anything about that.
The most important thing now is that we move on quickly and get behind the team.
I'm already fed up with this saga. Football is what interests me.
Oi Den!
says...
8:38am Sat 23 Feb 13
Sparticus
says...
8:48am Sat 23 Feb 13
Kentexile
says...
8:50am Sat 23 Feb 13
I don't think that he has been advised terribly well this week, he has undoubtably damaged his reputation to both those at and away from the club, including potential future employers!
Anyway, here's hoping for clearer & more timely communication from the clubs new hierarchy.
Now a whiff of automatic promotion is in the air, lets hope we can move on and grasp this opportunity.
Starting with a confidence boosting win today :)
SAPFanSTFC
says...
8:50am Sat 23 Feb 13
http://www.thisisswi
ndontownfc.co.uk/new
s/10245744.PREDICTIO
NS_LEAGUE__Swindon_T
own_v_Preston_North_
End/
----
May not be able to make it today due to family reasons and will be gutted - give a good shout out everyone!!
Born@Lyneham
says...
8:50am Sat 23 Feb 13
ChippyBOB.
says...
8:53am Sat 23 Feb 13
Since 1950 wrote:Exactly
And who created the near impossible time frame? Let me think?
Without creating the pressured time frame there would have been more options on the table giving STFC the best possible deal.
Jed and his team are most welcome but may not have been the strongest financial package had a less pressurized situation been the case.
And the manager should still have been informed about Ritchie sale who ever he was!
LydiardRED67
says...
8:56am Sat 23 Feb 13
TheDukeOfBanbury wrote:I don't think anybody has slagged PDC off and like most I have thoroughly enjoyed the last 18 months. It has been brilliant.
And this is why I find if hard to thank him as we could now be expelled from the league or 30 points deducted.
All what we had achieved in the last 18 months in the bin. I have spent a few quid as well and therefore why I (my opinion) remain very bitter.
Glad the whole episode is ending though.
From a football perspective and from a loyal supporter of STFC I have loved every minute and will remember the PDC era until I die and one for the grand kids,
Again why I get bitter when some of you within days slag him off.
I bet you were even cheering his name a few weeks ago..... knife and back as they say. Shame on you.
On the ownership, it started off as 4 and ended up as 1. If Black is to be believed, and I have no reason to doubt his statement (just as I have believed all of PDC's statements during his time here) it was our hero's Fitton and Wray who held up a more sedate sale by not agreeing to write off debt when Black and Arbib would.
My dissapointment with PDC is that he preached honour and loyalty. But to whom. It seems the loyalty and rspect and downright hero worhsip we as fans gave him, together with financial support in the end counted for nothing, instead choosing to use a personal fight with Black as his reasoning for quitting.
I feel I have been let down by him, purely becaise I thought the man was a fighter in adversity and had a strong affinity with my club that no previous manager (beyond Macari) had shown. This was obviously not the case.
Would I welcome him back? I don,'t know now. Earlier this week I would have said yes, but the club now seem to be pulling together as one, and there seems to be a new spirit about the place, something I hoped Di Canio would have been the one to carry through but alas he decided it wasn't for him.
RobinsTalk
says...
8:57am Sat 23 Feb 13
Di Canio has been a fantastic manager for this club for what he achieved in his first managerial post and has left us Town fans with some great memories.
Black is not a Town fan, he's not even a football fan, but he pumped millions of pounds of his personal wealth, along with Sir Martyn Arbib, into the club because he was asked to by Fitton and Wray as part of the consortium that saved the club. Fitton was the front man but he was certainly not the money man although he did obviously put a few quid in himself.
The way I understand it SMA wanted out and left AB on his own to fund the club which he didn't want at all, but he did it while a new buyer was sought. A sale was going through until one of the money men backing the purchase died, leaving the remaining buyers without the financial clout to get FL approval. So AB continued funding something he had no interest in whatsover. It sounds like Fitton and Wray didn't want the club sold buy were happy to keep spending AB's money until one day AB said enough is enough and replaced Wray with SWP to push a sale through as he wasn't prepared to lose more money on it. AB set the timeframe and basically said to stay afloat after that date you have to sell assets, hence Ritchie going.
Ask yourself how long you would keep throwing money at something you had absolutely no interest in for no return.
AB put the money, Di Canio spent it all plus some and much of it was wasted.
So now we are where we are without either of them at the club so let the legal men now be the ones to make a few quid out of them while we get on with supporting our club.
SAPFanSTFC
says...
8:58am Sat 23 Feb 13
.
...mostly because there's no such place as Fingers Crossed, Wiltshire!”
----.
Someone posted the lyrics:
It's a New Dawn; It;s a New Day; etc.
...
I can't get the words out of my head and they've brought a smile to my face in use with STFC - I'd just love to hear the whole ground singing this culminating a huge resounding:
"Boom Dah Boom....." part.
.
:-)
.
---
I love the quote:
- Now and then we had a hope that if we lived and were good, God would permit us to be pirates....well we've lost the Black but let's keep the cutlasses and rip these dogs to shreds on the pitch!!
hobodan
says...
8:58am Sat 23 Feb 13
Strange man.
But again we will get the same old people praising him loke jesus for 'saving' our club... b*****
RED-MERLIN
says...
9:05am Sat 23 Feb 13
peatmoorred
says...
9:10am Sat 23 Feb 13
We were l2 no playing staff and as he said heading for admin point deduction ect ect not very attractive to buyers except those who wanted to buy us whilst in admin others didn't want that so maybe why he invested heavily under Pdc to make us more attractive with promotion and decent squad with hope to recoup some money in a sale but as black got more involved financially then decided he wanted out ASAP the trump card was with the buyers who said were take the club off your hands but with no debt and were take over financial commitment
davel4848
says...
9:10am Sat 23 Feb 13
hobodan wrote:You're off the wall mate. Without his money we would have had 'everything crashing down', a long time ago.
Andrew black doesnt deserve any praise, the bloke brought everything crashing down on a club heading for the championship with a great manager and squad. If he had any business sense we wouldnt have been in the red in the first place & holding off and selling a championship club would have gotten him a return at least.
Strange man.
But again we will get the same old people praising him loke jesus for 'saving' our club... b*****
We all(most of us), loved Paolo but he's gone, get over it and get back to supporting the team on the pitch.
Manager's come & go, Chairmen come & go, players come & go. It happens in football. The only constant in football are the fans. The team need us right now, so let's get down to the CG this afternoon.
Nikki Nythe
says...
9:11am Sat 23 Feb 13
You could of done more not to risk us then you would of got more praise
Good luck jed please run us without silly risks
stfclondon
says...
9:17am Sat 23 Feb 13
hobodan wrote:Everyone is entitled to their own opinion, but you can't ignore the facts. He bankrolled the club and has left it with no debt and a good squad. The club is in a far better state than it was before he arrived.
Andrew black doesnt deserve any praise, the bloke brought everything crashing down on a club heading for the championship with a great manager and squad. If he had any business sense we wouldnt have been in the red in the first place & holding off and selling a championship club would have gotten him a return at least.
Strange man.
But again we will get the same old people praising him loke jesus for 'saving' our club... b*****
smirg kcab
says...
9:20am Sat 23 Feb 13
Onwards and upwards
Jeremy Hilary Boob
says...
9:22am Sat 23 Feb 13
Promotion won't have given him this new loan back. If we do go up in the summer what's going to happen? A load more expense - new players needed, higher wages, under PDC we'd have had yet more agents' fees. We might have got more TV money but we'd be trying to compete with clubs getting 20,000 every week in a ground that only holds 15,000 (incl. the Bank) so there wouldn't have been any spare money to repay any new loan.
STFCman&boy1973
says...
9:32am Sat 23 Feb 13
Thank you Mr black...
Jeremy Hilary Boob
says...
9:48am Sat 23 Feb 13
pcowley
says...
9:57am Sat 23 Feb 13
the wizard
says...
10:00am Sat 23 Feb 13
We are very lucky to still have a club to support, I just hope Jed sets out much firmer controls on the money and has somebody who appreciates the rules and regulations of the FL, as up till now it seems to have been a grey area within the last administration of the club.
Another view
says...
10:04am Sat 23 Feb 13
8:38am Sat 23 Feb 13
Apologists for Andrew Black? Ask some of the clubs who are in danger of going to the wall whether they would expect apologies on behalf of someone who comes in and not only keeps their club's heart beating but allows it a luxurious level of expenditure and then leaves it with no debt that can be called in.”
- Totally agree, Den. Like others I've cursed more than a few times over this fiasco, but as anyone in business knows, your back is often against the wall, and plan B or C has to be brought into play, especially in the kind of recession none of us has lived through.
I also think the phrase from AB that Paolo was always in your face looking for more, tells a lot about the pressure on him. There can never be clear winners in a situation like this, but the club seems to have come up with a pretty good compromise.
Old-Stager, Hilperton
says...
10:07am Sat 23 Feb 13
History is now repeating itself with Andrew Black now on the receiving end with much unnecessary abuse and insult from some quarters.
Having been a regular Town Fan for more than 60 years now, I would say that if I won £150,000,000 on the Euromillions, I'm afraid I wouldn,t waste a penny on the only Football Club in my life.
Old-Stager, Hilperton
says...
10:07am Sat 23 Feb 13
History is now repeating itself with Andrew Black now on the receiving end with much unnecessary abuse and insult from some quarters.
Having been a regular Town Fan for more than 60 years now, I would say that if I won £150,000,000 on the Euromillions, I'm afraid I wouldn,t waste a penny on the only Football Club in my life.
Stilloyal
says...
10:10am Sat 23 Feb 13
There is absolutely no point in slagging off Black, Di Canio or anyone else , be grateful we are still alive to fight another day.
Just waiting for May now so I can take a trip to Coral for my winnings.
Anyway I blame Iffy Onura :-)
pcowley
says...
10:13am Sat 23 Feb 13
Devon Red
says...
10:17am Sat 23 Feb 13
As this latest saga seems to be coming to an end I can only thank both AB and PDC for giving me back the pride I had lost in the club we love so much.
I will be heading off up the M5 soon as I I still have a club to follow and I am grateful for that.
COYR
Park North Red
says...
10:22am Sat 23 Feb 13
NORTH STAND
says...
10:33am Sat 23 Feb 13
TheDukeOfBanbury wrote:This, 100% This...
And this is why I find if hard to thank him as we could now be expelled from the league or 30 points deducted.
All what we had achieved in the last 18 months in the bin. I have spent a few quid as well and therefore why I (my opinion) remain very bitter.
Glad the whole episode is ending though.
From a football perspective and from a loyal supporter of STFC I have loved every minute and will remember the PDC era until I die and one for the grand kids,
Again why I get bitter when some of you within days slag him off.
I bet you were even cheering his name a few weeks ago..... knife and back as they say. Shame on you.
4,500 season ticket holders (that's paying customers!) laughed at by a poor little rich kid who had fallen out with his mates... 'it's my ball and I'm going to puncture it'
i don't know what was more scary yesterday - the story of Black's pitiful' it was Jeremy's, it was Andrew's, it was Paolo's, it was Phil's' fault blubberings or the pathetic sheep posting their 'two legs bad' brayings below.... appreciate there are several multi-id users who have had a longstanding problem with PDC and are now predictably returning like jackals to pick on the carcass but a lot of you (with some honourable exceptions) really should be carrying pitchforks and banjos...
anyway I'm off to the game now - don't suppose many of you ,lifelong' fans will be able to make it today.... save your cash for the Villa
dreamofacleansheet2
says...
10:49am Sat 23 Feb 13
You state you started the final sale process January 4th. you could never have expected sale to complete before January wages were due to be paid. you'd made your mind up not to put any more money in. no one has a problem selling Ritchie to keep club afloat. Club clearly more important.
Why oh why didn't you sell Ritchie January 5th? if reports are correct we turned down 900k in July. You could have had 400 now and rest later.
Jjust can't get my head around the stupidity of the fire sale of one of our best players.
peatmoor pirate
says...
10:59am Sat 23 Feb 13
NORTH STAND wrote:Insulting people with different opinions to yours is completely unnecessary. Truth is none of us have the full picture as to what has happened. All I can see is
TheDukeOfBanbury wrote:This, 100% This...
And this is why I find if hard to thank him as we could now be expelled from the league or 30 points deducted.
All what we had achieved in the last 18 months in the bin. I have spent a few quid as well and therefore why I (my opinion) remain very bitter.
Glad the whole episode is ending though.
From a football perspective and from a loyal supporter of STFC I have loved every minute and will remember the PDC era until I die and one for the grand kids,
Again why I get bitter when some of you within days slag him off.
I bet you were even cheering his name a few weeks ago..... knife and back as they say. Shame on you.
4,500 season ticket holders (that's paying customers!) laughed at by a poor little rich kid who had fallen out with his mates... 'it's my ball and I'm going to puncture it'
i don't know what was more scary yesterday - the story of Black's pitiful' it was Jeremy's, it was Andrew's, it was Paolo's, it was Phil's' fault blubberings or the pathetic sheep posting their 'two legs bad' brayings below.... appreciate there are several multi-id users who have had a longstanding problem with PDC and are now predictably returning like jackals to pick on the carcass but a lot of you (with some honourable exceptions) really should be carrying pitchforks and banjos...
anyway I'm off to the game now - don't suppose many of you ,lifelong' fans will be able to make it today.... save your cash for the Villa
1) Black and the previous owners saved us from going bust. Fact. Thanks Mr Black and others who invested.
2) Di Canio got us promoted from L2 and into a very promising position in L1 for promotion using funds supplied by Black. Fact.
Thanks Mr DiCanio and Mr Black.
3) Black decided to sell and wouldn't/couldn't invest any more money, hence the sale of Ritchie.
We don't know what Mr Black's reasons were for the firesale other than he has said he'd been trying to sell for some time. He may simply have run out of money he could spare - you or I have no idea and he has no need to tell us - it's his money. Whatever the reason, this was a problem for the club and they sold Ritchie to keep afloat.
4) DiCanio and backroom staff decided they could no longer stay. The sale of Ritchie without warning was the catalyst for this. Again, we don't really know the full reason for DiCanio's resignation. The resignation was obviously a problem for the club also.
Bottom line is both Mr Black and Mr DiCanio did their best for the club and it is healthier now than when they both arrived. Both of their withdrawals from the club caused us problems. They both have my thanks. It doesn't stop me being frustrated at the manner of thir going.
Those that think DiCanio is the finished article are mistaken. Future employers will be wary, make no mistake.He was learning his trade at STFC; I hope he goes on to have a good future in the game. I cheered his name 2 weeks ago, today he's history and I'm interested in how a little team called Swindon Town are doing managed by Ward and Miller.
I'd suggest that people stop having a go at each other and remember that we are all Swindon Town fans. If we turn on each other then we deserve everything we get.
Jeremy Hilary Boob
says...
11:04am Sat 23 Feb 13
Whatever agent who said the whole team was for sale in Jan did us no favours because Bournemouth knew we were more desperate than they were.
Jeremy Hilary Boob
says...
11:12am Sat 23 Feb 13
Park North Red wrote:I've said from the start that Ritchie was sold because Black wasn't prepared to put in any more money and the only opportunity of bringing in more money between now and May was to sell a player by the end of Jan.
I've believed this from the night Matt Ritchie was sold - They didn't tell PDC because they knew he'd but in arms and probably spitting feathers about it but if you'd only tried to reason with him and explain why it had to be done I think he'd have understood all be it reluctantly
I think you're right about their concerns about how PDC would react. Unfortunately for him his tendency to go public with grievances (notably during the embargo which he seemed to think could be resolved just like that) might have counted against him. Might they not have been worried that if they told him and he went public, the club would look like it was in even more of a mess than it actually was.
You'd hope he would have understood this, albeit reluctant, but they might have wanted to be 100% certain and I'm not sure they could be.
mick the tetburyred
says...
11:17am Sat 23 Feb 13
Following his press conference when he announced that the club was sale.Nick quoted the following,
1 No debt was owed to any outside creditors.
2 The manager PDC was still operating within the agreed playing budget.
3 That overall income at the club was at a higher level than had been budgeted for.
4 Entering administration was the very last and most unlikely option.
So how just two weeks later were we in a serious financial situation,selling our prized asset and making the entire squad available for transfer??.There must have been some income still entering the club in this period so had Mr Black actually stopped his funding alot earlier than we were led to believe??.
Anyway COYR,with other sides in the top six meeting each other today,3 points for the Reds would be very welcome!!.
Jeremy Hilary Boob
says...
11:27am Sat 23 Feb 13
After the Pompey game we only had 2 home games (Carlisle and Shrewsbury) until 9 Feb. All it would have taken was a bit of bad weather and one or both of those gets postponed and our cashflow would be well down for the month.
Might explain their desire to clear the snow off the pitch and get the Shrewsbury game on.
eastmidsred
says...
11:45am Sat 23 Feb 13
stonehousered68 wrote:A very balanced post. Pdc has done himself a lot of damage. Not only will a Premiership club not take him (West Ham comments this week to their fans - 'Be careful what you wish for', so he won't be going there while Gold and Sullivan are around) but also I can't see a Championship side employing him either. As far as Leagues 1 & 2 are concerned they couldn't afford him either unless they have a bottomless money pit or end up going bust. Pdc has shot himself in both feet and success has come at a very high price for STFC and him!
All things considered at the moment from what we have read and heard about over the last few days suggests to me that as fans over the last few months we have been very pdc centric. All the don't go Paolo campaign is now beginning to a bit OTT. That is if what we have now heard from AB and NW is to be believed 100%.
Paolo reputation is looking very bedraggled at the moment. Seeking legal advisers, breaking into the club. Walking out at a crucial time . Mouthing off, dropping the captain, the list could go on.
Yet all of us have loved the ride to some extent . We must be grateful for what he has achieved and not be too sour. Life goes on. My worry for pdc is that he has in the week done himself no favours. I cannot see a premiership club choosing him as their manager at the moment.
oldlegtrailer
says...
11:49am Sat 23 Feb 13
albatross
says...
12:16pm Sat 23 Feb 13
mancrobin wrote:I couldn't agree more with your post. Why the urgency to sell the club in January? Why not wait 3 more months? If we got promoted Black would have got back more than whatever money he would have had to put in until the end of the season. At the very least we would have made the play-offs generating a fair amount of revenue. Also, selling the club in the summer would have given more opportunity to sell the club at a high price. It almost seems as if Black has sold the club in a fit of pique after falling out with someone.
I think that this further reinforces the need to answer two questions. Why did Andrew Black invest in the Town in the first place? And why did the sale have to happen right now an not at the end of the season?
Like many, I am extremely grateful to Andrew Black but until these points are clarified there will be an air of distrust about the whole situation.
Jeremy Hilary Boob
says...
12:30pm Sat 23 Feb 13
If it's the difference between the PL and the FLC then fine. At the very least you could buy the club and milk the TV money as Venkys appear to have done and Blackpool allegedly do (this might have been in Private Eye).
But the difference between the FLC and FL1 is hardly that great, especially when you consider the extra expense that FLC football will bring.
We need to be realistic here. People weren't exactly queuing up to by Swindon Town and simply being in the FLC would not automatically make us more valuable.
As for a fit of pique - read his comments. He's wanted to get out for ages.
mallorca
says...
12:34pm Sat 23 Feb 13
The pDc business along with his agent is time to put a line under it.
We know of the fall outs with players,the waste of money etc.
All you faithfull Town fans just try and count up how much money Pdc did waste and it aint down to the Collins and Archibald situation with paying fees up front.The man cocked up big time.
Like the I resign if the Fl did not approve the deal with new owners by 1700hrs 18th Feb
No he has made a big mistake this time walked out on the club/Team/Fans
There is no way back.
Again he got carried away and as quite a few realize now No One person is Bigger then the CLUB
Do hope he finds a decent job,however he won´t have the easy ride that he had from the TOW.
I hope the true fans will support the new Boss no matter who they employ as it was them with AB that saved us
jayden
says...
12:50pm Sat 23 Feb 13
Davidsyrett
says...
1:31pm Sat 23 Feb 13
People keep saying it would have been better to sell as a championship club, but there was no guarantee we would get promoted and with PdC's further demands for more loan players the demands on AB would have been even more, he may well have been looking at another £750K+ just to see us through to the summer, and what then? Championship club or not, with the debts that were owed to the former board I still cant see anyone paying more than a £1 for the club, remember we would still be losing money + bonuses would have to paid to staff for promotion!
My main concern is how we got ourselves into this mess in the first place.
Davidsyrett
says...
1:31pm Sat 23 Feb 13
People keep saying it would have been better to sell as a championship club, but there was no guarantee we would get promoted and with PdC's further demands for more loan players the demands on AB would have been even more, he may well have been looking at another £750K+ just to see us through to the summer, and what then? Championship club or not, with the debts that were owed to the former board I still cant see anyone paying more than a £1 for the club, remember we would still be losing money + bonuses would have to paid to staff for promotion!
My main concern is how we got ourselves into this mess in the first place.
Park North Red
says...
1:33pm Sat 23 Feb 13
leader1111
says...
5:51pm Sat 23 Feb 13
SimonPrice351
says...
10:13pm Sat 23 Feb 13
Mr. Duke, sirrah...
Kicked out of the League?
30 points deduction?
Please elaborate.
Jeremy Hilary Boob
says...
11:36pm Sat 23 Feb 13
leader1111 wrote:Do you honestly think people are queuing up to buy Swindon Town? It's not as though consortium were beating a path to the CG to take it off Black's hands.
They came down to the last minute of insolvency and had done nothing for months before. Why not! Black knew the financials every day. Why not use common business sense and look for new owners before the season started, or after the start if you no longer want to invest, so that you have multiple offers. Why not have frequent conversations with your manager to explain the temporary situation, or to avoid it altogether. Utter stupidity.
Black or Watkins said they were in discussions with a potential consortium but one of them died so they couldn't get the FL approval.
He didn't need frequent conversations with his manager-he employed Wray and/or Watkins to do that. I think Di Canio is mistaken how much contact managers have with chairmen-some might be very hands on, some not at all. In the scale of his business ventures, STFC might well have been very small, hence a hands off approach and leaving it to others.
I'd have liked him to be a bit more hands on but ultimately it was up to him.
SimonPrice351
says...
3:58am Sun 24 Feb 13
Why can't we just have a smooth ride for once?
U REDS says...
6:31am Sat 23 Feb 13