Interesting. So next honest question. Other than salaries, how are the yanks getting the money out of the club? Seems at odds with stumpy's post. Also, only the head honchos would get paid, how do the other 27 (or whatever the number is) investors get their money back? I know it doesn't help your position, but some things don't stack up. From reading another thread on your board it seems as if Jenkins stood up to the yanks over the James transfer and paid the price. Just wondering if things get worse before they get better. From the outside, I don't know if it is malicious by the yanks or incompetence. Either way, it doesn't help you guys.
https://www.bizjournals.com/washing...ella-sells-his-wharf-condo-to-a-familiar.html $2.5 Million on a condo.
The 27 "investors" have invested in a hedge fund (not the Club they haven't put a penny in just bought shares ) which I imagine is using many different companies to make money off, some will be successful some not , like spread betting you win some you lose some. In this case not only have they lost out as us but more importantly the Club. They're losses could be used as a tax write off, ours a loss of the Club as we know it. Regarding the how they would get money out of the Club m consultancy fees , short term loans against the Club ,I don't know but the Trust director on the Board had to sign a NDA before he was allowed to access the full accounts , he declined , Which begs the question why would a NDA be required to obtain visibility of the accounts which should be readily available to all share holders
A very tangled web has been woven. And we thought things were convoluted for us with Langstons and Sam. With Jenkins gone I don't suppose things will get any clearer for the fans regarding finances. Is the company owning the swans UK registered. If so, accounts should be visible through companies house. Troubling times.
The Club owners and directors can distribute all shares under the name of the fans trust between them at any time they want. It has always been that way since the trust was formed allowing fans to donate money to the club that once you donate you cannot get back.....So all moneys goes to the club ....The trust cant sell their so called shares as in reality they dont own them in the first place as they found out when they tried and failed to take the club to court......The club are doing nothing wrong and are benefiting by having a fans trust as they are gaining any money fans donate to the club.....and i dare say the club uses the trust as a tax avoidance....It is worth letting a fan to sit on the board to reap benefits. But i'm afraid the club can sell the trust so called shares to anyone that is willing to buy them. The trust cant even sell their own individual shares as that is part of the deal when you joined the trust....All the trust does is give the fans a sense of belonging but the reality is that they dont have any power whatsoever and never will....
I really do wonder about Dai's IQ, maybe he should read the original shareholders agreement, not that he would understand it, hell he's thick!!..........
Very apt lyrics...... I haven’t got no money To keep this affair afloat And I don’t think that it’s funny It looks like I’ve sunk my boat But she’ll keep me dangling on and on and on
