| Trust Update 20:03 - Apr 4 with 15517 views | Darran |
Shareholding Update
It has been a couple of months since the Swans Trust’s AGM where, during his address, our Chairman Phil Sumbler outlined the timetable and actions to be taken within which the Trust will seek to resolve the long-standing legal issues regarding the Trust’s shareholding in the football club.
As communicated to our members a few weeks later, we were disappointed to announce that the proposed mediation, planned for the end of February, was not going to proceed.
This was for two reasons. Firstly, the legal representatives of the selling shareholders informed our legal representatives that he had been instructed not to provide a detailed response to the claim letter, demonstrating that his clients had no intention of complying with the Practice Direction. Mediation cannot sensibly take place without that response/defence and the Trust cannot commit to wasting the funds of our members whilst the selling shareholders concerned refuse to properly engage in the pre-action process.
Secondly, it became clear prior to the mediation dates that neither of the managing partners of the majority shareholders, Steve Kaplan or Jason Levien, were planning to attend the proposed February mediation dates either, despite the Trust having made it clear that the attendance of one of them was vital if the Trust was to commit to spending thousands of pounds on a mediation. Although alternative attendees were suggested, a mediation is much less likely to be productive while the managing partners of the club’s owners are not prepared to fully engage.
At the time of that announcement, the Trust noted the willingness that had been shown by the majority owners to at least engage in the process to try to seek a mediated settlement. It is therefore disappointing to confirm that no progress has been made in that regard. The Trust has communicated our willingness to proceed with further dialogue, however we have not received any response.
In terms of next steps, as previously outlined, the Trust had planned to proceed with the members consultation on all available options during March. Unfortunately, for a variety of reasons, such as the changing circumstances, required legal activities taking longer than anticipated and the need to provide our members with information that is as comprehensive and accurate as we can, this has not been possible.
We apologise for any disappointment this causes to our members, however the Trust board is of the view that it is critical that we clarify all options for our members, where at all possible, prior to that consultation. The Trust board is still very much of the view that the members consultation will occur as soon as possible, and we will publish the timeline for this as soon as possible.
Football Club Update
Since our AGM, there have been some significant changes in the running of the football club. February saw the departure of Huw Jenkins from the role.
Huw deserves considerable credit for his part in the Swans’ rise to the Premier League and for that the Trust thanks him. However, we must also point out, once again, his involvement in the way the sale of the football club to its current owners was conducted, as well as the continuing negative impact of that sale. It is also important to remember Mr. Jenkins’s culpability for the disastrous transfer dealings of the past three seasons, which are the main reason the club is in its current position. For these reasons, change was inevitable and necessary.
Moving forward, it is accurate to say that the Trust has been keep informed by the club in terms of plans to find a replacement chairman, with the preferred candidate of the majority owners being Trevor Birch. As previously communicated, the Trust were informed that Mr. Birch was the majority owners’ preferred candidate in advance of his appointment and have met him both prior to, and after, his appointment. He brings wide experience and expertise to the role.
We are aware of the concerns raised by our members regarding the remit and targets he has been set by the majority owners, which ties in to the press reports regarding members of staff being notified of a consultation period regarding potential redundancies at the club. The Trust is acutely aware of the financial challenges which life in the Championship brings, but it is disappointing that jobs are at risk primarily due to the poor management of the football club in the past. However, we have been told that his focus is on stabilising the club rather than preparing the club for a sale. The Trust, through our supporter director, will be strongly representing the views of our members to the new chairman and the club board that any decisions made are taken with the best long-term interests of the football club at heart.
We should once again note that the Trust has previously communicated our concerns regarding some aspects of his remuneration package, which we have been informed contains an equity element. The details and conditions of this are unclear but, if true, would potentially dilute the Trust’s shareholding and further prejudice our position as a minority shareholder in the football club. The Trust raised our objections to the majority owners prior to the appointment but, to date, we have not received a response.
Welsh Baccalaureate Project
Frequent readers of our article in the matchday programme and website will be aware of the Enterprise and Employability Challenge that the Trust has worked with the WJEC to offer to schools as part of the Welsh Baccalaureate qualification. This challenge requires pupils to develop a product or service that will enhance the matchday experience for young people.
During the summer of 2018, pupils in Dwr-y-Felin Comprehensive School in Neath were our pilot school for this initiative and we are now starting to see practical applications of the excellent ideas being put forward by pupils.
Before the FA Cup game with Brentford the pupils offered face painting in the Family Stand. They worked in two groups and raised £125 for their school charities such as TÅ· Hafan and Great Ormond St Hospital. At £1 at time, that took some doing! Our thanks go to the Club for its support and to all fans who contributed to these excellent causes.
The Trust is pleased to say that this initiative continues to develop strongly, with a number of other schools taking up the challenge. As an example, Gowerton School were recently ready to present their ideas and, while they were expecting to present to the teacher and Trust representatives, on the day they were delighted to find themselves explaining their ideas to Swans legends and club ambassadors Lee Trundle and Leon Britton who were excellent in the way they engaged with the initiative.
To date, nearly 400 pupils in the local area have been introduced to the recent history of the football club and the Supporters’ Trust through this initiative. Early indications are that those schools are keen to continue repeat the experience with their next year groups. The Trust hopes to expand this initiative even further, and we have already signed up Dyffryn Taf School in Whitland, Carmarthenshire for the first time in the coming months. If your school is interested in participating, then please contact the Trust as soon as possible!
Disabled Supporters Association (DSA) Update
As part of Level Playing Fields’ week of action, the DSA approached the club with an idea of taking some of our members for a tour around Fairwood and we are please to confirm this happened last week. The DSA offered this opportunity to all our DSA members, with the lucky winners being drawn at random.
As a result, 23 of our members had the chance of watching the first team train, getting to looking around the facilities and also getting the opportunity to meet many of the first team.
The DSA would like to thank the club, players and management. We’d especially like to thank Suzanne and Mike Eames for the way they engaged with the members and kindly gave everyone a spare shirt.
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| Trust Update on 19:44 - Apr 6 with 2730 views | Garyjack |
| Trust Update on 00:53 - Apr 6 by valleyboy |
Must be one of these plastic supporters that supporter have often talked about. That don’t know much about the history of Swansea City
Perhaps it’s you that’s off your head or is a case of dementia. Or is it you trying to air brush a part you don’t like about Swansea City
Liked you tried to do with what you said about Cooze |
Only just seen this. Dear god man, you obviously don't know what has happened to our club in this millennium, so don't talk to me about being a plastic! Or not knowing our history because you know the square root of fvck all!  |  | | |
| Trust Update on 09:30 - Apr 7 with 2557 views | exiledclaseboy |
| Trust Update on 13:10 - Apr 6 by valleyboy |
So you have seen Counsels advice have you???
What makes you think it’s towards the high end of the percentages???
I could say a lot more, but it could be implicating someone that’s been giving advice to the Trust
Remember I have been around nearly 40 years following Swansea regularly, and in that time got to know a lot of posters in high performing professions.
All I will say for now
That things are not as straight forward as it seems with the Trust case and as I have said. I don’t think it will land up in court or even on the steps of a court as one poster suggested |
I’ve seen counsel’s advice. Clearly I’m not going to go into detail on here but whoever is feeding you info is yanking your chain. |  |
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| Trust Update on 10:19 - Apr 7 with 2504 views | chad |
| Trust Update on 09:30 - Apr 7 by exiledclaseboy |
I’ve seen counsel’s advice. Clearly I’m not going to go into detail on here but whoever is feeding you info is yanking your chain. |
Thanks ECB I was going to ask you to confirm, just to cut dead this line of attack (which would effectively be accusing the Trust of fraudulent misrepresentation on this matter).
As far as I am aware the Trust initially and subsequently told us that Counsel said we had a strong case, which as always been my position when discussing this matter.
I also understand there were recommendations to agree an out of court settlement if we could.
But also understand that is standard legal advice, to save the expense (although expenses should be awarded if successful) and lack of absolute certainty of any legal case. Which obviously does not mean settling for a bad deal or one for considerably lower than what we would expect from winning our strong case. |  | | |
| Trust Update on 11:16 - Apr 7 with 2460 views | Vetchfielder |
| Trust Update on 13:10 - Apr 6 by valleyboy |
So you have seen Counsels advice have you???
What makes you think it’s towards the high end of the percentages???
I could say a lot more, but it could be implicating someone that’s been giving advice to the Trust
Remember I have been around nearly 40 years following Swansea regularly, and in that time got to know a lot of posters in high performing professions.
All I will say for now
That things are not as straight forward as it seems with the Trust case and as I have said. I don’t think it will land up in court or even on the steps of a court as one poster suggested |
"high performing professions"
Steeple Jacks
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| Proud to have been one of the 231 |
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| Trust Update on 11:19 - Apr 7 with 2452 views | Phil_S |
" I could say a lot more, but it could be implicating someone that’s been giving advice to the Trust"
No please do it'll be interesting if nothing else
Please also realise there's a fair few people who say they have been advising the trust but sharing their opinion on social media is not advice especially without credentials |  | | |
| Trust Update on 11:29 - Apr 7 with 2418 views | oh_tommy_tommy |
How long a contract has our new chairman got ? |  |
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| Trust Update on 11:41 - Apr 7 with 2402 views | Uxbridge |
| Trust Update on 10:03 - Apr 5 by Vetchfielder |
OK , thanks Ux, I didn't get that from the statement but fair enough,
My concern is though that new kid in town Trevor Birch comes back in 2 weeks time ( I can't see voting papers being sent out before then) after he's got his feet under the table, makes himself out to be a king of mediation and says "let's not be hasty", lets all get together in May to discuss it.
What will the Trust do ?
a. Delay the process even further by agreeing and going along with the request to meet in May?
b. Or decline by stating that we've had enough of this and are now already committed to preparing voting papers that exclude any mediated settlement in the options?
I'd go with b. |
A) isn't really an option anymore. IMO anyway. That ship sailed a long time ago.
Anyway, just a comment on the prospects of winning a legal case as the analyses of the percentages on that are once again raising their head. The only things we can ever know is that our advice is that we have a strong case and that nothing is ever certain when it comes to a court case. Anyone who, even tangentially, uses the word certainty in the same breath is wrong. If only that was the case. Funnily enough I'm probably more bullish on the prospects of a positive outcome now than I was a couple of years ago, which was a significant part of why I voted in favour of the deal back then, but the word certainty has no place in these conversations. I hope people are aware of that.
I have a hunch I know who Haydn is hinting has fed him info, and if I'm right then I can say with certainty that they wouldn't actually know. They've not been directly involved with the Trust Legal approach and even past involvement has only been in an advisory capacity some years ago. |  |
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| Trust Update on 15:40 - Apr 7 with 2308 views | valleyboy |
| Trust Update on 11:41 - Apr 7 by Uxbridge |
A) isn't really an option anymore. IMO anyway. That ship sailed a long time ago.
Anyway, just a comment on the prospects of winning a legal case as the analyses of the percentages on that are once again raising their head. The only things we can ever know is that our advice is that we have a strong case and that nothing is ever certain when it comes to a court case. Anyone who, even tangentially, uses the word certainty in the same breath is wrong. If only that was the case. Funnily enough I'm probably more bullish on the prospects of a positive outcome now than I was a couple of years ago, which was a significant part of why I voted in favour of the deal back then, but the word certainty has no place in these conversations. I hope people are aware of that.
I have a hunch I know who Haydn is hinting has fed him info, and if I'm right then I can say with certainty that they wouldn't actually know. They've not been directly involved with the Trust Legal approach and even past involvement has only been in an advisory capacity some years ago. |
Well it could be any of 3 that we both know
I don’t think the Trust could afford my contact
Was it not Dai Little that gave the Trust some advice a few years ago and don’t tell me he has thrown the towel in
Good old Dai Little
I used to enjoy the banter I used to have with him
I might as well have asked the “Babtist” now that he has graduated in law after jacking in writing software for the big banks up there in the smoke
At least you are being honest with posters on her in saying that nothing is ever certain in a court case
You start off with a 20% no chance for starters
I will stay say that this case will not go to court or even decided on the steps of a court |  | | |
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| Trust Update on 15:45 - Apr 7 with 2295 views | valleyboy |
| Trust Update on 11:41 - Apr 7 by Uxbridge |
A) isn't really an option anymore. IMO anyway. That ship sailed a long time ago.
Anyway, just a comment on the prospects of winning a legal case as the analyses of the percentages on that are once again raising their head. The only things we can ever know is that our advice is that we have a strong case and that nothing is ever certain when it comes to a court case. Anyone who, even tangentially, uses the word certainty in the same breath is wrong. If only that was the case. Funnily enough I'm probably more bullish on the prospects of a positive outcome now than I was a couple of years ago, which was a significant part of why I voted in favour of the deal back then, but the word certainty has no place in these conversations. I hope people are aware of that.
I have a hunch I know who Haydn is hinting has fed him info, and if I'm right then I can say with certainty that they wouldn't actually know. They've not been directly involved with the Trust Legal approach and even past involvement has only been in an advisory capacity some years ago. |
Anyway. What does a failed accountant know about the Law????? | | | |
| Trust Update on 15:52 - Apr 7 with 2284 views | valleyboy |
| Trust Update on 09:30 - Apr 7 by exiledclaseboy |
I’ve seen counsel’s advice. Clearly I’m not going to go into detail on here but whoever is feeding you info is yanking your chain. |
As I said in another posting that you have good and bad people in all professions
Will Trust members be able to see Counsel’s advice, before voting for whatever they think the right action to take. Or will it be case of them being advised by the likes of yourself, Phil Sumbler, Uxbridge and whoever else | | | |
| Trust Update on 15:53 - Apr 7 with 2284 views | NeathJack |
Anyone else find it a strange coincidence that no sooner does Eames Jr stop posting on this messageboard, Eames Sr pops up spouting his own brand of drivel? [Post edited 7 Apr 2019 18:29]
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| Trust Update on 15:58 - Apr 7 with 2272 views | valleyboy |
| Trust Update on 11:19 - Apr 7 by Phil_S |
" I could say a lot more, but it could be implicating someone that’s been giving advice to the Trust"
No please do it'll be interesting if nothing else
Please also realise there's a fair few people who say they have been advising the trust but sharing their opinion on social media is not advice especially without credentials |
I have never said that someone has said anything to me that has been advising the Trust other than being surprised of the Barrister that’s been asked to give advice
As far as I know it’s only been Dai Little that’s done some work for the Trust and it’s been a few years that I have had direct contact with him | | | |
| Trust Update on 16:14 - Apr 7 with 2262 views | Phil_S |
| Trust Update on 15:58 - Apr 7 by valleyboy |
I have never said that someone has said anything to me that has been advising the Trust other than being surprised of the Barrister that’s been asked to give advice
As far as I know it’s only been Dai Little that’s done some work for the Trust and it’s been a few years that I have had direct contact with him |
The first part of my post was a direct quote from you
Just for the avoidance of doubt | | | |
| Trust Update on 17:40 - Apr 7 with 2210 views | Darran |
| Trust Update on 16:14 - Apr 7 by Phil_S |
The first part of my post was a direct quote from you
Just for the avoidance of doubt |
lol | |
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| Trust Update on 18:41 - Apr 7 with 2155 views | builthjack |
| Trust Update on 15:53 - Apr 7 by NeathJack |
Anyone else find it a strange coincidence that no sooner does Eames Jr stop posting on this messageboard, Eames Sr pops up spouting his own brand of drivel? [Post edited 7 Apr 2019 18:29]
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I did say a few weeks ago, is it really Eames senior. Or is it Junior using the name. |  |
| Swansea Indepenent Poster Of The Year 2021. Dr P / Mart66 / Roathie / Parlay / E20/ Duffle was 2nd, but he is deluded and thinks in his little twisted brain that he won. Poor sod. We let him win this year, as he has cried for a whole year. His 14 usernames, bless his cotton socks.
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| Trust Update on 18:51 - Apr 7 with 2139 views | vetchonian |
| Trust Update on 18:41 - Apr 7 by builthjack |
I did say a few weeks ago, is it really Eames senior. Or is it Junior using the name. |
Nail head | |
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| Trust Update on 19:00 - Apr 7 with 2129 views | Darran |
| Trust Update on 18:41 - Apr 7 by builthjack |
I did say a few weeks ago, is it really Eames senior. Or is it Junior using the name. |
Juniors a little more coherent. | |
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| Trust Update on 19:55 - Apr 7 with 2067 views | Uxbridge |
| Trust Update on 15:45 - Apr 7 by valleyboy |
Anyway. What does a failed accountant know about the Law????? |
Enough to know that I listen to the experts and make my judgement after that... | |
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| Trust Update on 19:56 - Apr 7 with 2061 views | Uxbridge |
| Trust Update on 15:53 - Apr 7 by NeathJack |
Anyone else find it a strange coincidence that no sooner does Eames Jr stop posting on this messageboard, Eames Sr pops up spouting his own brand of drivel? [Post edited 7 Apr 2019 18:29]
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I would be utterly, utterly amazed if this was a coordinated approach. | |
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| Trust Update on 20:08 - Apr 7 with 2022 views | oh_tommy_tommy |
| Trust Update on 11:29 - Apr 7 by oh_tommy_tommy |
How long a contract has our new chairman got ? |
Can anyone answer this please ? | |
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| Trust Update on 20:48 - Apr 7 with 1965 views | Joe_bradshaw |
| Trust Update on 11:29 - Apr 7 by oh_tommy_tommy |
How long a contract has our new chairman got ? |
I have it on good authority that it’s 11.69 inches. |  |
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| Trust Update on 21:04 - Apr 7 with 1946 views | HCMC |
Exactly the same people protecting the sellouts now that were before the “legal action” vote.
It makes you wonder, why? | | | |
| Trust Update on 21:10 - Apr 7 with 1930 views | waynekerr55 |
| Trust Update on 21:04 - Apr 7 by HCMC |
Exactly the same people protecting the sellouts now that were before the “legal action” vote.
It makes you wonder, why? |
Best interests of the club, obviously. |  |
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| Trust Update on 21:19 - Apr 7 with 1911 views | valleyboy |
| Trust Update on 19:55 - Apr 7 by Uxbridge |
Enough to know that I listen to the experts and make my judgement after that... |
How do you know if he is as good as you think he is
Time will tell I’m sure
I wonder what excuses you’ll come up with when it all goes pear shape | | | |
| Trust Update on 21:28 - Apr 7 with 1894 views | valleyboy |
| Trust Update on 19:56 - Apr 7 by Uxbridge |
I would be utterly, utterly amazed if this was a coordinated approach. |
Perhaps if you told the poster from Neath how I used to warn you on another site what exactly would happen to Swansea City
There was something about Jenkins I never have liked, as I used to tell you all those years ago
But there, you were all so blind. You now deserve what you got
Even the Trust will look back and probably think that they should have done things much better. Especially be more open with their members | | | |
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