| Maybe 08:15 - Feb 1 with 4126 views | angryjack |
The owners just don't trust Martin with any more funds,makes sense,perhaps seeing season out and getting rid,hope so..just a thought |  | | |  |
| Maybe on 09:05 - Feb 2 with 950 views | 3swan |
| Maybe on 08:19 - Feb 2 by Boundy |
Given the money or do you mean loan the money ? |
It isn't a loan as they have bought more shares.
I would also say they haven't given the club money as they have increased their shareholding hoping to protect their holdings, and eventually see a return.
It's all about the potential financial gain. | | | |
| Maybe on 09:12 - Feb 2 with 908 views | Dr_Parnassus |
| Maybe on 09:05 - Feb 2 by 3swan |
It isn't a loan as they have bought more shares.
I would also say they haven't given the club money as they have increased their shareholding hoping to protect their holdings, and eventually see a return.
It's all about the potential financial gain. |
Not quite true.
You can’t just buy more shares of a 100% owned club.
You can however, create new shares to convert your loans to equity - but that has no real value as the rest of your shareholding is diluted.
It’s a way to write debt off as opposed to increase value of shares. |  |
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| Maybe on 09:13 - Feb 2 with 910 views | grabsplatter |
| Maybe on 00:35 - Feb 2 by Dr_Parnassus |
They have put more in as owners than any other owners in our history,
£10,000,000 from their own pockets last I checked.
Can you name an owner we have had that has put in more? In our whole entire history.
Same here. |
They've loaned it & it hasn't been converted. They say it will but do you believe everything they say?
I don't. |  | | |
| Maybe on 09:17 - Feb 2 with 902 views | 3swan |
| Maybe on 09:12 - Feb 2 by Dr_Parnassus |
Not quite true.
You can’t just buy more shares of a 100% owned club.
You can however, create new shares to convert your loans to equity - but that has no real value as the rest of your shareholding is diluted.
It’s a way to write debt off as opposed to increase value of shares. |
Yes I do know that. That's why I didn't use increase their % holding
Also that's why I added
"hoping to protect their holdings, and eventually see a return" | | | |
| Maybe on 09:21 - Feb 2 with 890 views | Dr_Parnassus |
| Maybe on 09:17 - Feb 2 by 3swan |
Yes I do know that. That's why I didn't use increase their % holding
Also that's why I added
"hoping to protect their holdings, and eventually see a return" |
Yes but I mean they won’t get “more” return. It’s the same as it was before.
It’s just a way to put money into the club and not fall foul of FFP.
It’s not something they should be criticised for or for anyone to be cynical about, it’s perfect practice for us as fans. | |
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| Maybe on 09:25 - Feb 2 with 880 views | Dr_Parnassus |
| Maybe on 09:13 - Feb 2 by grabsplatter |
They've loaned it & it hasn't been converted. They say it will but do you believe everything they say?
I don't. |
Yes I believe it will be converted.
To me, it appears people are looking for a reason to be annoyed, but they don’t actually know why. | |
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| Maybe on 09:29 - Feb 2 with 871 views | 3swan |
| Maybe on 09:21 - Feb 2 by Dr_Parnassus |
Yes but I mean they won’t get “more” return. It’s the same as it was before.
It’s just a way to put money into the club and not fall foul of FFP.
It’s not something they should be criticised for or for anyone to be cynical about, it’s perfect practice for us as fans. |
Not being cynical at all as you say it is normal business practice.
Just clarifying the point of "given" as they will have received something in return
The club gains, but it's all about finance, they will have balanced out risks etc | | | |
| Maybe on 09:32 - Feb 2 with 856 views | 3swan |
| Maybe on 09:13 - Feb 2 by grabsplatter |
They've loaned it & it hasn't been converted. They say it will but do you believe everything they say?
I don't. |
That investment was initially in the form of a loan note, which has recently been converted into equity with Silverstein taking up a formal stake in the club.
https://www.swanseacity.com/news/jake-silverstein-i-am-committed-and-i-want-help
In black and white. End of year info will confirm or not. | | | |
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| Maybe on 09:35 - Feb 2 with 848 views | grabsplatter |
| Maybe on 00:32 - Feb 2 by Dr_Parnassus |
Why is that relevant?
Getting £10m for a player we paid a small amount for and giving millions back to reinvest whilst then filling an operational cost hole, is excellent ownership isn’t it?
What are you expecting out of interest? |
It's relevant because it means our net spend on players over that 18 month period is a profit. That's fine if it's then used to fund operational costs & as a basis for ongoing squad rebuilding.
What I then expect is for them to have a clear recruitment plan going forward & implement that plan.
The January shambles clearly shows they've failed to do that whichever way you want to look at it, not for the first time- you've mentioned how they pissed off Cooper yourself.
The reports are out there about the owners moving the goalposts/changing details when dealing with other clubs - not excellent ownership I'm sure you'll agree. | | | |
| Maybe on 10:10 - Feb 2 with 829 views | Dr_Parnassus |
| Maybe on 09:35 - Feb 2 by grabsplatter |
It's relevant because it means our net spend on players over that 18 month period is a profit. That's fine if it's then used to fund operational costs & as a basis for ongoing squad rebuilding.
What I then expect is for them to have a clear recruitment plan going forward & implement that plan.
The January shambles clearly shows they've failed to do that whichever way you want to look at it, not for the first time- you've mentioned how they pissed off Cooper yourself.
The reports are out there about the owners moving the goalposts/changing details when dealing with other clubs - not excellent ownership I'm sure you'll agree. |
But that’s not relevant because we know the operational hole exists. We will always make “profit” on sales, but it’s not a real profit, year on year we will be in the loss.
As for lack of plan - how do you know they don’t have a plan?
Maybe their plan was to not sell our young assets off for cheap and only sign players permanently who can fit our criteria.
If there wasn’t any available for the deals we could afford this month then we don’t sign anyone.
I do think they handled the January under Coopers second season wrong yes, there was money there as we brought in other players, players we didn’t need, and considering our position in the league (3rd at the time I think) it was poor judgement.
This January however, sat in 12th, I don’t see what they have done to deserve so much abuse. | |
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| Maybe on 10:13 - Feb 2 with 814 views | Dr_Parnassus |
Good find, I was sure it had been converted too but couldn’t find the relevant confirmation.
Supposition over then, it’s done. | |
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| Maybe on 13:41 - Feb 2 with 766 views | ReslovenSwan1 |
| Maybe on 10:13 - Feb 2 by Dr_Parnassus |
Good find, I was sure it had been converted too but couldn’t find the relevant confirmation.
Supposition over then, it’s done. |
I assume £5m of the potential £13m has been converted but not the rest loaned by the Levien group and potentially others.
Silverstein was not a shareholder and keen to get involved in decision making once Kaplan stepped down. With out converting it did not look right given that the Ownership group demanded owning shares are a condition of being a director.
They, I presume continue to hold loan notes and a notional interest reported to be 5%. I get 4.2% from Barclays ISA so it is not excessive if that is the rate.
From what I recall the SCST are due a £500k on completion of the conversion. See your friendly neighbour Trust man/ women at the next home game for details. It is a democratic organisation with obligations for transparency. [Post edited 2 Feb 2023 13:42]
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