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I hope you enjoy. I'm sure there will be plenty to moan about as always. Give you a help in hand, controversial words on the supporters trust and possible takeover on page 39!
I'm useless with twitter: useless with most things in fairness :) I do try to get on it from time to time but go months forgetting it exists!
I'm assuming that this issue must be perfect as Darran hasn't had anything to say on it. If he speaks he moans so if he's quiet then I assume he's ecstatic :)
New Issue of Jack Swan is online: New Front Cover :) on 19:18 - Mar 30 by JackSwanTV
I'm useless with twitter: useless with most things in fairness :) I do try to get on it from time to time but go months forgetting it exists!
I'm assuming that this issue must be perfect as Darran hasn't had anything to say on it. If he speaks he moans so if he's quiet then I assume he's ecstatic :)
lol well i've followed on twitter, i'll wait for a few years for you to login again :) keep up the good work
"I'm Free"
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New Issue of Jack Swan is online: New Front Cover :) on 20:05 - Mar 30 with 6551 views
New Issue of Jack Swan is online: New Front Cover :) on 19:18 - Mar 30 by JackSwanTV
I'm useless with twitter: useless with most things in fairness :) I do try to get on it from time to time but go months forgetting it exists!
I'm assuming that this issue must be perfect as Darran hasn't had anything to say on it. If he speaks he moans so if he's quiet then I assume he's ecstatic :)
As usual a load of gash.
The first ever recipient of a Planet Swans Lifetime Achievement Award.
New Issue of Jack Swan is online: New Front Cover :) on 20:05 - Mar 30 by Phil_S
Presumably you haven't read this months where the message is sell sell sell then?
Strange how from one month to another the viewpoint changes so easily
Hmmm....
I've never said we shouldn't sell Phil. Not once. What I have said in there, which I assume you have seen is that shares are inevitably going to sell. That is football, that is business, that is life, things change. Our board aren't insanely wealthy, why shouldn't they make some money? I would! They got kids, grand kids some of them, they can make some money and have a better life for themselves and their families but we expect them not to because we don't want any change? that's ridiculous.
I don't want change, I don't want them to sell but come on, I would if I was them and its going to happen and we can't think less of them for doing so.
New Issue of Jack Swan is online: New Front Cover :) on 20:13 - Mar 30 by JackSwanTV
I've never said we shouldn't sell Phil. Not once. What I have said in there, which I assume you have seen is that shares are inevitably going to sell. That is football, that is business, that is life, things change. Our board aren't insanely wealthy, why shouldn't they make some money? I would! They got kids, grand kids some of them, they can make some money and have a better life for themselves and their families but we expect them not to because we don't want any change? that's ridiculous.
I don't want change, I don't want them to sell but come on, I would if I was them and its going to happen and we can't think less of them for doing so.
Oh okay then, roll out the flags and just accept that its going to happen
New Issue of Jack Swan is online: New Front Cover :) on 20:21 - Mar 30 by Phil_S
Oh okay then, roll out the flags and just accept that its going to happen
Very poor viewpoint
Of course it is going to happen. We have had the same board for over a decade, that's not going to continue forever. I'd be more concerned if we have board members who want to move on but aren't allowed to, who are sitting on a load of money but don't have it, that is a recipe for corruption and disaster. I would say that that was far more dangerous than 20% being sold to someone else.
I really struggle to see the realistic concern. Its wonderful having the board we currently have but that's not gong to last forever. They are going to move on at some point. Its inevitable. And the reality is that most of them haven't done that much for the club for years; they wont be missed, they aren't putting loads of money into the club as gifts and aren't running the club on a day to day basis; we wont notice that they are gone.
What do you see as the realistic fear? I agree that if we were talking about a total take over then I'd be on the streets with you but 20 or 30%? I don't see an evil business person coming over and buying 20 or 30% to ruin our club or to expect to make money.
Your clearly in a far better position than me and I'm sure that you know a lot more than I do but we need to accept that shares will be sold. Thats not being defeatist thats being realistic and it doesn't have to be a bad thing!
New Issue of Jack Swan is online: New Front Cover :) on 20:39 - Mar 30 by JackSwanTV
Of course it is going to happen. We have had the same board for over a decade, that's not going to continue forever. I'd be more concerned if we have board members who want to move on but aren't allowed to, who are sitting on a load of money but don't have it, that is a recipe for corruption and disaster. I would say that that was far more dangerous than 20% being sold to someone else.
I really struggle to see the realistic concern. Its wonderful having the board we currently have but that's not gong to last forever. They are going to move on at some point. Its inevitable. And the reality is that most of them haven't done that much for the club for years; they wont be missed, they aren't putting loads of money into the club as gifts and aren't running the club on a day to day basis; we wont notice that they are gone.
What do you see as the realistic fear? I agree that if we were talking about a total take over then I'd be on the streets with you but 20 or 30%? I don't see an evil business person coming over and buying 20 or 30% to ruin our club or to expect to make money.
Your clearly in a far better position than me and I'm sure that you know a lot more than I do but we need to accept that shares will be sold. Thats not being defeatist thats being realistic and it doesn't have to be a bad thing!
What a load of nonsense.
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New Issue of Jack Swan is online: New Front Cover :) on 20:51 - Mar 30 with 6474 views
New Issue of Jack Swan is online: New Front Cover :) on 20:39 - Mar 30 by JackSwanTV
Of course it is going to happen. We have had the same board for over a decade, that's not going to continue forever. I'd be more concerned if we have board members who want to move on but aren't allowed to, who are sitting on a load of money but don't have it, that is a recipe for corruption and disaster. I would say that that was far more dangerous than 20% being sold to someone else.
I really struggle to see the realistic concern. Its wonderful having the board we currently have but that's not gong to last forever. They are going to move on at some point. Its inevitable. And the reality is that most of them haven't done that much for the club for years; they wont be missed, they aren't putting loads of money into the club as gifts and aren't running the club on a day to day basis; we wont notice that they are gone.
What do you see as the realistic fear? I agree that if we were talking about a total take over then I'd be on the streets with you but 20 or 30%? I don't see an evil business person coming over and buying 20 or 30% to ruin our club or to expect to make money.
Your clearly in a far better position than me and I'm sure that you know a lot more than I do but we need to accept that shares will be sold. Thats not being defeatist thats being realistic and it doesn't have to be a bad thing!
That 20-30% would soon grow to 60-70%.
Gifts to the club? That is not allowed, you know — even new owner would not give gifts, only the sort that attracts interest — see VT and scumdiff.
You’re almost making it out that the board are struggling to buy food for their kids or something — they are well off already, some are very wealthy. Why would they refuse to see to the trust?
New Issue of Jack Swan is online: New Front Cover :) on 20:54 - Mar 30 by SwansNZ
That 20-30% would soon grow to 60-70%.
Gifts to the club? That is not allowed, you know — even new owner would not give gifts, only the sort that attracts interest — see VT and scumdiff.
You’re almost making it out that the board are struggling to buy food for their kids or something — they are well off already, some are very wealthy. Why would they refuse to see to the trust?
No reason why that figure would be sure to grow. Think there is a lot of suspicion and scaremongering going on here.
How do you know they aren't struggling? Some might. Either way, they would notice £5 million in their bank account. It would chsnge their life. You saying you wouldn't sell???
There are possibly two reasons why they wouldn't see to trust.
1) trust can't afford it
2) snd I'm sure I will make friends here: it's not best thing for club! Potential disaster.
New Issue of Jack Swan is online: New Front Cover :) on 21:00 - Mar 30 by JackSwanTV
No reason why that figure would be sure to grow. Think there is a lot of suspicion and scaremongering going on here.
How do you know they aren't struggling? Some might. Either way, they would notice £5 million in their bank account. It would chsnge their life. You saying you wouldn't sell???
There are possibly two reasons why they wouldn't see to trust.
1) trust can't afford it
2) snd I'm sure I will make friends here: it's not best thing for club! Potential disaster.
Apart from the fact that the last deal on the table was planned to grow exactly as described, to over 60% of the issued shares in the club in foreign hands.
So, every reason that figure woud be sure to grow.
However, I also accept the general premise that the current board cannot go on forever. However, as the current custodians, I do expect them to take care over who the future custodians are. And not just sell to the first people that wave a chequebook.
For those that were at the London Fans Forum, they heard that Huw Jenkins wasn't clear on the rationale for the last deal. Lets hope the next one has a better rationale.
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New Issue of Jack Swan is online: New Front Cover :) on 21:40 - Mar 30 with 6414 views
New Issue of Jack Swan is online: New Front Cover :) on 21:31 - Mar 30 by jackonicko
Apart from the fact that the last deal on the table was planned to grow exactly as described, to over 60% of the issued shares in the club in foreign hands.
So, every reason that figure woud be sure to grow.
However, I also accept the general premise that the current board cannot go on forever. However, as the current custodians, I do expect them to take care over who the future custodians are. And not just sell to the first people that wave a chequebook.
For those that were at the London Fans Forum, they heard that Huw Jenkins wasn't clear on the rationale for the last deal. Lets hope the next one has a better rationale.
As I said in earlier post, Phil will know more details than me and it appears that you do too :)
I agree with you 100% that our board have a duty to sell to the right people and I personally believe that they will do that. What I do think, is that the "right people" will be the ones they will be put off by an "anti take over" group or feeling as against the "nasty" people who won't give a shite.
I stand by the fact that shares will inevitably be sold and that we'd be better off accepting this and looking forward with it :)
New Issue of Jack Swan is online: New Front Cover :) on 21:40 - Mar 30 by JackSwanTV
As I said in earlier post, Phil will know more details than me and it appears that you do too :)
I agree with you 100% that our board have a duty to sell to the right people and I personally believe that they will do that. What I do think, is that the "right people" will be the ones they will be put off by an "anti take over" group or feeling as against the "nasty" people who won't give a shite.
I stand by the fact that shares will inevitably be sold and that we'd be better off accepting this and looking forward with it :)
As I understand it, the initial offer would have been to buy 30%, with an option/agreement to buy an additional 30%. This is stated by the Trust, so assume to be a fact
Do you just print your opinions in your magazine? not facts? sorry, but I don’t read it.
New Issue of Jack Swan is online: New Front Cover :) on 21:46 - Mar 30 by SwansNZ
As I understand it, the initial offer would have been to buy 30%, with an option/agreement to buy an additional 30%. This is stated by the Trust, so assume to be a fact
Do you just print your opinions in your magazine? not facts? sorry, but I don’t read it.
[Post edited 30 Mar 2015 21:46]
My opinion when it's an opinion. Facts when it's facts.
The "offer on the table" has seemed to be almost gossip by the sounds of it. Not sure who is saying what in reality.
Can Phil help us out here? Was it 30% plus an extra 30% agreed?
New Issue of Jack Swan is online: New Front Cover :) on 21:46 - Mar 30 by SwansNZ
As I understand it, the initial offer would have been to buy 30%, with an option/agreement to buy an additional 30%. This is stated by the Trust, so assume to be a fact
Do you just print your opinions in your magazine? not facts? sorry, but I don’t read it.
"This was very much the first connection for many of the shareholders with the potential share purchasers and led to — around 6 or so weeks later — a shareholder meeting where we were presented by Brian Katzen with a heads of term sheet that detailed what was being proposed, which was namely:
A 30% share purchase in the football club on a pro rata basis from the shareholders who wished to sell for the sum of £30m.
A further right to purchase future shares which could mean over 60% of the club ending up in the hands of these potential share purchasers — that is on the assumption that none of our shares will be sold."
"This was very much the first connection for many of the shareholders with the potential share purchasers and led to — around 6 or so weeks later — a shareholder meeting where we were presented by Brian Katzen with a heads of term sheet that detailed what was being proposed, which was namely:
A 30% share purchase in the football club on a pro rata basis from the shareholders who wished to sell for the sum of £30m.
A further right to purchase future shares which could mean over 60% of the club ending up in the hands of these potential share purchasers — that is on the assumption that none of our shares will be sold."
Wouldn't thst extra "right to buy " shares apply to any major shareholder. Isn't this nothing specific? My business law knowledge is non existent but don't current share holders have the right to but first? And isn't this just this but rewritten?
New Issue of Jack Swan is online: New Front Cover :) on 22:41 - Mar 30 by JackSwanTV
Wouldn't thst extra "right to buy " shares apply to any major shareholder. Isn't this nothing specific? My business law knowledge is non existent but don't current share holders have the right to but first? And isn't this just this but rewritten?
I could be totally wrong here haha
You are, indeed, totally wrong. No "ha ha" because this is not even remotely funny.
An option to purchase applies ONLY to the purchaser of the shares in the agreement. It is not an "option to sell" to anybody else.
The shareholders who want to sell are violating the original intention of those who bought the club -- to save it They've made back their original investment many times over.
Now they're willing to hand the club -- "of the fans, for the fans" -- over to yet another risky buyer [not so risky if you know their legal and financial background].
You may want out if you find yourself running a quickly expanding, high pressure, cut throat etc, business with a turnover in excess of £100mpa. If you can sell your interest for X million on the way out then so much the better.
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