The Swansea Way
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"Swansea City: Dispute over 2016 takeover settled - BBC Sport" https://www.bbc.com/sport/football/60393740.amp
£500k, paid by the sellouts apparently.
The legal and professional fees probably take a large chunk out of that ‘windfall’.
All in all, why did they bother if that was the ‘acceptable’ figure - nowhere near the price paid by the Yanks to the sellouts: the Trust’s potential ‘comparable’ value then was c£20m?
At least, a Trust Director can still sit in the Directors’ Box I suppose …..
That single action has probably killed off the existing trust ,all those meetings all those who supported the Trust and its Board, betrayed for what ? Shameful behaviour with no vote to the membership to accept just "we know best".
Old and the new
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"Swans Trust – The morning after the day before | Planet Swans" https://planetswans.co.uk/2022/02/16/swans-trust-the-morning-after-the-day-before/
Its unbelievable that they signed away everything without knowing anything .
The vote in 2017 by the majority of Trust members was to take legal action against the previous owners ,that mandate has clearly been ignored .
Agree 100% Matt
Could be an interesting meeting tomorrowIts unbelievable that they signed away everything without knowing anything .
"The Trust stated it had hoped to consult its members on whether or not to accept the settlement and the issues that were evident if legal action was pursued.
However, they opted against both offering members the chance to vote and holding talks over their final decision.
Their key concern regarded the possibility of jeopardising confidential details of their final settlement, along with those regarding funding and insurance.
The Trust noted its fears over losing funders and insurers that would have led to the Trust being reliant on its own resources to fund legal proceedings
Nevertheless, members are understandably frustrated given that they were not consulted on the matter before a decision was reached" Not my words
https://www.walesonline.co.uk/sport...tm_campaign=scfc_newsletter2&utm_medium=email
However, they opted against both offering members the chance to vote and holding talks over their final decision.
Their key concern regarded the possibility of jeopardising confidential details of their final settlement, along with those regarding funding and insurance.
The Trust noted its fears over losing funders and insurers that would have led to the Trust being reliant on its own resources to fund legal proceedings
Nevertheless, members are understandably frustrated given that they were not consulted on the matter before a decision was reached" Not my words
https://www.walesonline.co.uk/sport...tm_campaign=scfc_newsletter2&utm_medium=email
Motion of no confidence in the Trust Board I suspect will be incoming …..
What good is the £500k? Totally insufficient (when added to existing resources) to buy the Club, even if the Club was up for sale in a distressed situation….
Losing in Court might have happened but probably would not have been ‘fatal’ for the Trust - on the other hand, a potential windfall of up to £20m would have been more than enough to avoid the ownership dilution upcoming from the loan conversion.
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Do you recon they picked up a Joes?
"10 Inspirational Women of Swansea - Enjoy Swansea Bay" https://www.visitswanseabay.com/blog/2022/03/04/10-inspirational-women-of-swansea/
Who wouldn’tDo you recon they picked up a Joes?
, that’s possibly one of best images i’ve seen on here very evocative if the times and place
Windmill Terrace St Thomas 1916 , the school on the right are now flats
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