The Yanks speak ... to Wales Online

I can’t see the amount of the loan - only that it is against this season’s Central Funds money (aka Parachute Payment) & and the Central Funds money (relating to 2019/20 season) that are payable in July next year (presumably the first instalment for 2019/20?)

 

Cheers , I wonder why do we actually need a loan(s) and why against next seasons' parachute payments .?

 

Excuse me here,but,why has the local media,EP,SS radio not picked up on this?
Or have they?
It's over my head too.

 

Taff,well done for spotting this.

 

It’s one way of finding the working capital to finance the business.

I believe they did something similar last year re the Central TV/Media monies. Also, if I remember correctly, they also borrowed against the transfer fee payable by West Ham when they bought Andre Ayew.

 

It was only filed on the 28th August - I’m sure I looked earlier in the week, but there was nothing there. It can take a day or two before new filings are ‘visible’ on the system.

 

Some landlord you are,allowing your properties to fall into such bad repair your tennant's have to be rehoused!!!
Hang your head in shame.

 

Every club uses Banks and Borrow money Even the richest clubs in the world do it, Why ? Well for all sorts of reasons that is way above any fans head that only the clubs know the reasons but they all do it.....

 

Trust Chairman`s update

‘It has been almost three weeks since the last update I provided to our members about events at Swans Trust, at what is a critical time for both the Trust and the Club.

I have some key updates for you around the mediation process that we announced in May and the questions we have asked the football club around the decisions taken over the last few months.

Let me start with an update about the mediation process. In May, we informed our members that we had attempted to engage with the majority owners of Swansea City and other parties (including Huw Jenkins and Martin Morgan) through a formal mediation process, beginning with a claim letter that set out the Trust’s legal case in detail and proposed a mediation. Mediation is a voluntary and confidential process in which relevant parties seek to resolve disputes with the assistance of a trained independent and impartial mediator.

Our aim was, and remains, to seek an agreement to settle past differences, subject to members’ approval, with a view to moving ahead together with the task of rebuilding the club and returning it to top level football.

The Trust entered this process in good faith, attempting to resolve all issues without the need for formal court proceedings. Unfortunately, the legal representatives of the majority owners initially refused our offer to mediate, questioning whether it was genuine, and bizarrely accused the Trust of trying to harm the Club.

An initial ’Without Prejudice’ meeting was held with Huw Jenkins and Martin Morgan in early June, however there has been no follow up meeting with them or their lawyers, although the Trust was open to the possibility.

The courts have a ‘Practice Direction’, which sets out the guidelines which parties in dispute should follow before they start court proceedings. This includes trying to reach agreement by means such as mediation. The Practice Direction outlines a maximum timeline within which the relevant parties should provide a full written response to the Trust’s claim. The Trust and its legal representatives have provided every opportunity for this to be met, even allowing the maximum possible timeline which is usually reserved for more complex cases than this. Unfortunately, this deadline passed on 20thAugust without a response being received, either from the majority owners or the others.

Since the deadline passed, things have progressed a little. Our legal team were contacted by the legal representatives of the majority owners and, as a result, we are currently in discussions to arrange a meeting between the Trust, the majority owners and other parties within the next few weeks.

As a Trust, we must continue to protect our legal position. As part of the mediation process, the Trust requested access to various pieces of documentation relating to the 2016 sale.These documents have not yet been received. On the advice of our legal team, the Trust board has instructed our lawyers to initiate legal action to obtain access to these documents, unless they are provided within a further 7 days. This is a limited legal action specifically to obtain access to these documents. It is not the same as undertaking legal action relating to the sale itself and its impact on the Trust’s shareholding. We hope those issues can still be resolved as part of the discussions that are scheduled to take place in the next few weeks. However, these documents are important so that the Trust can best advise its members on the next course of action to take, which could mean undertaking legal action relating to the 2016 sale and its impact on the Trust’s position.

I can assure you that we will investigate every option available to us to ensure that we get the right result for the Trust, whichwill only be concluded following a full consultation and ballot of our members. We will, of course, continue to keep you updated as things progress.



As representatives of the fans, it is key that we understand the reasons for decisions made by the Club and gain assurances on the financial management of the Club. In my last update, I said that the Trust had sent a comprehensive list of questions to the majority owners of the Club, to obtain some clarity on the club’s financial position after this summer, understand the reasons for why decisions were made as well as seeking to ensure that the decisions taken are in the best interests of the Club. Many of these questions related to our transfer dealings this summer, but we also sought clarity on our financial obligations in the future, such as the salaries of senior employees. We know that relegation to the Championship means that we will receive considerably less revenue than previously, and we need to cut our cloth accordingly, but without visibility on the current situation we cannot say if the decisions taken were in the Club’s best interests.

The majority owners have responded to our requests and offered to meet with Stuart MacDonald, our Supporter Director, to answer our questions and provide those assurances. That was a positive step. However, the club havealso insisted that before any meeting takes place that an NDA (Non-Disclosure Agreement) was signed by Stuart. This NDA would have prevented Stuart releasing key information into the public domain but, crucially, also stopped him from providing any information to the Trust board. This is unacceptable as it would mean that the Trust board could not gain the reassurances that we needed, plus puts our Supporter Director in an impossible position.

We have advised the majority owners that our Supporter Director will not be signing this document and we are deeply disappointed and angry that it was suggested he should sign in the first place given both Stuart’s position as a Director of the Club (which already brings with it fiduciary duties regarding confidential information being made public) but also our position as a 21% shareholder and representative of the fans. We will continue to push for these answers but not being able to provide them at this time is very disappointing.

Furthermore, the request to sign an NDA arrived just 48 hours after some key commercial information relating to the club was released via a private message exchange on Twitter by a current employee (and former shareholder) with a young supporter, which later entered the public domain. Whilst we welcome all levels of fan engagement by members of the Club’s hierarchy, it is completely inappropriate that the Supporter Director is asked to withhold information from the Trust board whilst others release this information to anyone who asks. Not for the first time, we have expressed our strong opinion that Leigh Dineen’s continued employment at the football club is inappropriate, not least due to his unprofessionalism in this matter.

On a separate note we were pleased to play a part in the competitive pricing for the Carabao Cup tie against Crystal Palace and we commend the club for listening to our viewpoints on this matter. While the result did not go our way, there were some promising debuts for some of our younger players which was pleasing to see.

I would also like to applaud the excellent efforts of Graham Potter, the coaching staff and the playing squad in performing so well at the start of this season. There has also been an obvious change in footballing philosophy on the pitch and this has made watching the Swans a much more enjoyable experience than in recent times.

This is a critical time for this organisation, and the Club as a whole. The Trust is only as strong as its membership and, in the coming weeks, we will be seeking to increase our membership base to provide as strong a voice for the fans as possible. We would welcome your help in getting the message out to fans about the importance of joining and the need for a strong Supporters Trust, especially at this time.

I would like to thank everyone who has joined us this evening and for all members who have already joined for this year. We will now open for any questions’


The Yanks don`t lie, up the Yanks!!!!

 

I'm updating a few of my properties that landlords should do and perhaps we wont see as many derelict slum properties filled with multi occupancies that are all over Swansea.....It is an investment that guarantee me decent tenants. I Don't do student multi occupancies making a fortune in rent every week, I do hard working families and yes i have a few Muslim families and they have been fantastic......I am proud of my properties that look good and the tenants are happy that makes me and my team happy.....

 

Even after defrauding the Trust, they show no regret with their actions, I appreciate we have to go through the mediation to show an equitable position with the court process, but I cannot wait to get these wasters in court, and bring them to book, the club has nothing but crooks at the helm.

With regard to bank borrowing and indemnities, there could be a problem with Jenkins as chairman, because he has already bankrupted his roofing business, and he may well not be personally bankrupt, but he I’ll not be an acceptable risk for many bank borrowings with the administration of his previous company, they would neither accept him for directors guarantees either, why The slime ball Morgan couldn’t be acceptable though is another matter.

We seem to be leaning on Santander and Barclays more and more, and according to the Yanks, they have been providing bridging loan facilities also, which for me doesn’t bode well.


The bottom line in all this is, that Jenkins looks like he is taking the club down the same path as his roofing business..............

 

The Trust is just a bunch of supporters who think they have any power.....Sorry to disappoint but you have none and i know as a former member at the very start...How many times have the Supporters Trust tried to take the club to court and failed miserably and even wanted to sell the shares....It's laughable because at the end of the day the club own them shares anyway. The Supporters Trust cannot make any profit selling shares and only shareholders can acquire the trusts shares as they cannot be sold to outside parties without the approval of the owners as written down when the trust was first formed.....The Supporters trust came into being to let the fans put money into the club to help save it and once you donate money you cannot get it back as it goes into the clubs coffers,,,,,,So what is the point of the Supporters trust today ? It is like joining the scouts and paying subs. It has no power to tell the scout movement how to run their business just like the Supporters trust cant tell the owners how to run their club.....The Supporters trust comes out with these worthless statements from time to time and for what...? they know they dont have an ounce of power to do anything....

 

Bull

 

Levein, Kaplan, Jenkins, Morgan and Dineen continue to show nothing to the fans but contempt.

 

Why don't you just **** off to Saundersfoot you odious ****ing toe rag , on second thoughts , just **** off

 

Is it.. Watch and learn as usual......Been there, got the t-shirt......And resigned with countless others as we were told in no uncertain terms we had no say with the running of the club whatsoever......

 

You need to know the facts i'm afraid......You may not like the truth but thats your problem not mine....

 

As I say just just **** off you troll and do us all a favour

 

Nasty little boy tonight Mathew.......

 

Zzzzzzzzzzzzzzz