| Another 3 million invested on 14:51 - Apr 19 with 3528 views | KeithHaynes |
The figures they release are concerning. Not only for transparency reasons but they claim to be businessmen ! | |
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| Another 3 million invested on 15:18 - Apr 19 with 3475 views | ReslovenSwan1 |
Not only do they claim to be businessmen but they are businessman. Why worry about them? They know how to look after themselves and have very deep pockets. Kaplan In particular made hundreds of millions out of Oak tree and sitting on hundred millions more at DC United.
He has made big money out of everything he has touched except Swansea city.
Be brave reject fear. New set up beefed up recruitment Coleman on station. He has taken charge with his people and they have money to spend this window with a highly promising and brave man manager and some very promising kids coming through.
The fans holding is heading to 5%. They will never invest. They are passengers and chose this role in 2015 when they declined to cash in. Now Taffy has to stand aside and leave it the Yanks.
I love Ben Cabango Williams and Coleman who typify SCFC These are lion hearted warriors. [Post edited 19 Apr 15:24]
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| Wise sage since Toshack era |
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| Another 3 million invested on 15:27 - Apr 19 with 3470 views | max936 |
There as to be an end point and lets hope its not the shit hitting the fan, with the club in debt from the massive mistakes they've made since they've taken over.
Plus its getting even harder for Championship clubs to compete with those relegated from the Prem, with the parachute money they get, the Coventry owner was talking about it on Talksport this morning. | |
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| Another 3 million invested on 15:41 - Apr 19 with 3447 views | felixstowe_jack |
Makes a nonsense out of those who still claim the owners are taking money out of the club. That is £25 million invested into the club over the last three years.
Our gate revenue does not even come close to covering our wage bill let alone all the other expenses involved in running a club. | |
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| Another 3 million invested on 15:51 - Apr 19 with 3429 views | Whiterockin |
Current major shareholders.
Swansea Football LLC - 73.36%
Nigel Morris – 13.59%
Swansea City Supporters Society Ltd – 9.77% | | | |
| Another 3 million invested on 15:55 - Apr 19 with 3414 views | Whiterockin |
£20M since last summer. As I have said previously. If they didn't make so many expensive cock ups, particularly signings, they wouldn't have to pump so much in. [Post edited 19 Apr 15:57]
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| Another 3 million invested on 15:55 - Apr 19 with 3411 views | max936 |
There's very little clarity with LLC that's why some make those claims, Coleman deflects any pertinent questions regarding that subject, so much for them being "Open and Honest" which is what Coleman virtually promised. | |
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| Another 3 million invested on 15:58 - Apr 19 with 3394 views | union_jack |
Don’t you ever get sick of repeating the same thing over and over and over again?? I for one certainly am! | |
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| Another 3 million invested on 15:59 - Apr 19 with 3392 views | max936 |
There has to be an end point though, that can't go on indefinitely, they were recouping some of losses at the club with the help of player sales, but all the family silver has now been sold. | |
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| Another 3 million invested on 16:01 - Apr 19 with 3386 views | max936 |
Take no notice, its the reactions that he lives off. | |
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| Another 3 million invested on 16:11 - Apr 19 with 3359 views | Whiterockin |
Max we should all be very concerned and not just brush things under the carpet. First question is this investment needed to survive. Second question how much is left in the Swansea Football LLC pot before more investment is needed.
I still maintain that they are pushing for ownership of over 75%, why? Because a shareholder that holds 75.1% of the voting rights would have, effectively, complete control over the important and significant decisions that are made regarding the future direction of the football club. There are a number of decisions that can only be made when over 75% of shareholders agree. Exactly what are their plans. | | | |
| Another 3 million invested on 16:21 - Apr 19 with 3325 views | 3swan |
Does the voting rights of some of the previous owners already give them that now ? | | | |
| Another 3 million invested on 16:33 - Apr 19 with 3289 views | Whiterockin |
All depends what they want to do, they could instruct a new share price and buy them out for pence. These two items would impact Morris and the Trust.
"authorising certain off-market purchases by the company of its own shares, and varying, revoking and renewing that authority
varying class rights"
Rights of shareholders holding more than 75% of shares
to pass a special resolution
Special resolutions
A special resolution is one passed by at least 75% of the shareholders present in person or by proxy and entitled to vote at a general meeting.
Notice of not less than 21 days’ notice must be given to the members, specifying the intention to propose the resolution as a special resolution.
It follows that shareholders holding more than 25% of the shares may block the others from passing a special resolution.
The following are examples of matters for which a special resolution is required by the Companies Act 2006.
amendment of the articles of association
changing the company’s name
changing the country of registration of the company from Wales to England and Wales
reduction of the share capital of the company, for example, in connection with the re-domination of shares
disapplication of pre-emption rights by the directors of the company where there is only one class of shares; where the directors act in general authority; or by the directors to a specified allotment of equity securities or application with modification of an allotment
re-registration of a company as a new type, for example, an unlimited company as a private limited company or a private limited company as a public limited company
authorising certain off-market purchases by the company of its own shares, and varying, revoking and renewing that authority
varying class rights
using capital to pay for the redemption and purchase of the company’s own shares
winding up the company, whether voluntarily, or by a court
These rights cannot be reduced or changed by any agreement between the shareholders | | | |
| Another 3 million invested on 16:38 - Apr 19 with 3274 views | max936 |
That's what I thought. | |
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| Another 3 million invested on 16:41 - Apr 19 with 3272 views | max936 |
The trust as 5% of the A shares they can't touch those, although who knows with this lot on the Trust Board, Trust now that's an interesting word  | |
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| Another 3 million invested on 16:48 - Apr 19 with 3252 views | ReslovenSwan1 |
White Rocking is going off on another conspiracy tangent. Whipping up fear for the sake of it. Fans should be wise enough by now to know it is baloney.
The main reason for the owners buy out voting rights when the original purchase was made was to prevent the Trust getting 25%. They SCST were saying at that time that the club did not need investment after Jenkins stated they did. At 25% the Trust could control club actions have ing only ever put £200k into the club. They could probably ban all new investment to preserve their power.
No doubt some Trust people would like Swansea to be in league 2 with them in charge. A Corbynista "club of the people". Stuart James (ex- Guardian would love it). Within 2 years they would be like the Ospreys looking for a 5000 seat stadium.
Fans are very angry at them for failing to deliver on promises. In my opinion they are no good for the club because they cannot even manage their own cash (for whatever reason). They are good at PR nothing else. They paid for a PR firm I noted from one of the a set of accounts.
The US people had 75% ownership but lost it willingly when Mr Morris put in £10m.
The previous gripes were a) No investment (sorted) b) No attendance at matches (Sorted)
The new gripe is "transparency" of the LLC. None of the fans business. [Post edited 19 Apr 16:51]
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| Wise sage since Toshack era |
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| Another 3 million invested on 17:02 - Apr 19 with 3203 views | ReslovenSwan1 |
There are a lot of thing owners could do but they do not. Levien and co can just stop paying the bills and put the club into administration. They are in charge.
They lost 75% control when Silverstein and Morris joined the club. Silverstein then moved to the LLC. Morris would only need a small sum to protect his % position if he wanted to. Morris would sue them if they offered pennies for his shares without good reason.
If Trump is in power after November he can invade and annex Canada. It would be easy for him. | |
| Wise sage since Toshack era |
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| Another 3 million invested on 17:02 - Apr 19 with 3207 views | 3swan |
I'm assuming that their share and the legacy voting rights may give them the 75.1%
The small percentage not in those figures may also vote with them | | | |
| Another 3 million invested on 17:08 - Apr 19 with 3192 views | QJumpingJack |
re: communication
why is that the Trust announce this but there is nothing on the official swansea site? | | | |
| Another 3 million invested on 17:14 - Apr 19 with 3174 views | ReslovenSwan1 |
Yes good point. The legacy voting right were sold to the old board who stayed on. They have been diluted to 3.28% based on the figure given in this thread.
They originally had around 10% Mr Jenkins sold up to someone probably the LLC recently. The US guys therefore had a combined 79% in 2016.
The LLC have probably already had 75% voting for some time. I do not think it is very important. They lost it when Morris invested a sizeable sum. | |
| Wise sage since Toshack era |
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| Another 3 million invested on 17:21 - Apr 19 with 3158 views | max936 |
I'd love to know as to what Mr Morris feels about it all, I wonder if they even informed him, they surely would need to.
Club made a operating loss of 12million or so last season, be interesting to see how much the club will lose or have lost this season, that's my point there as to be an end game the losses mounting up will force a change it will have to, if we did by some stroke of fortune and get promoted it would be very difficult to stay there, without significant investment every season, what with running costs wages for all staff and players etc.
The Coventry owner more or less said it all this morning, there used to be a top four, which grew to a top 6, but that is expanding ito a regular top 7/8 even, that takes serious money spent by seriously wealthy people, who want to grow the clubs they own.
Can't see this happening here, the MLS is much different due to there not being many clubs with the wealth needed to run MLS clubs, and more importantly is that they've virtually got a monopoly on the game with there not being promotion or relegation, so finishing bottom isn't ideal, but it changes things very little. | |
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| Another 3 million invested on 18:17 - Apr 19 with 3063 views | union_jack |
The thing is Max, that’s like saying take no notice of the tinnitus ringing in your ears😂 | |
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| Another 3 million invested on 18:37 - Apr 19 with 3033 views | ReslovenSwan1 |
This is a forum in south Wales. We tend to have a mono political party in control as it has been for decades. (The Labour party)
In this culture alternative view are to be attacked and preferably eradicated. I was booted off another forum for not following the "party line". It was unfair as I had not broken any rules.
I am criticised personally and will have my sanity questioned. I have very clear values. I expect this.
The fans have no use for knowing the number for the LLC. Their own body cannot even invest £1m and does not understand they are shrinking due to inflation.
"Why do you not agree with me and clear the tinnitus for all of us" you might say.
I would reply "because you are not so smart". | |
| Wise sage since Toshack era |
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| Another 3 million invested on 18:41 - Apr 19 with 3022 views | QJumpingJack |
Gary Neville recently said "one bad transfer window can cost a club financially for three years".
Maybe these injections are to cover the recruitment mess over recent years? | | | |
| Another 3 million invested on 18:41 - Apr 19 with 3019 views | max936 |
I'd prefer tinnitus to be honest. | |
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