League Two Lee Power

think that’s a misprint. should be £75 not 7.5 million
 
Be it the FA, PL, EFL or any other major body, the people who ‘run’ football are the definition of fat cats. Love the perks, hate doing any work. That this seemingly went on for years before only coming out in the wash by mistake just shows you how lawless it all is. Nobody is in control.
 
Confused over who is being charged with what here?
Is it Standing and/or Barry for acquiring a share/interest against the rules OR is it Power for trying to do something without their consent??
 
mooro said:
Confused over who is being charged with what here?
Is it Standing and/or Barry for acquiring a share/interest against the rules OR is it Power for trying to do something without their consent??
Click to expand...

The club could be in trouble I guess as if Standing is found to own 50% of the shares, Power has covered up that an agent has significant ownership of the club. What, if any, the sanction would be I don't have a clue. That tweet (dependent on how genuine and ITK they really are) suggests there is more to come out which could be worse.
 
mooro said:
Confused over who is being charged with what here?
Is it Standing and/or Barry for acquiring a share/interest against the rules OR is it Power for trying to do something without their consent??
Click to expand...
I can only work out that they are both in trouble, for different things. But who, for what, is the question!
 
Don't forget there is also Clem Morfuzi who claims he had been 'sold' a 15% share in the club. The whole set up has the distinct stench of a Ponzi scheme.
 
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It’s as clear as mud, anyway what person with a ounce or gram of common sense would invest 800000 in Swindon whilst still playing professionally , is that allowed, and adds to g thy he argument that footballers are paid too much money if he can expect to lose that much
 
It seems the £1.85m sell on free that S*****n received when Matt Richie was sold by Bournemouth to Newcastle should have been paid to the previous owner Black. The full loan or 'covenant' that was due to Black was £2m. Standing paid Power £75K (half the difference) to Power so that the debt could be cleared. Power stands accused of making no payment to Black and trousering the whole lot.
 
Gareth Barry has a financial intertest in Swindledon through his agent and and boyhood friend and ex-Oxford United loanee Michael Standing. This is a clear breach of the regulations that prohibits professional footballers from investing in football clubs. .
 
sideshowrob said:
Gareth Barry has a financial intertest in Swindledon through his agent and and boyhood friend and ex-Oxford United loanee Michael Standing. This is a clear breach of the regulations that prohibits professional footballers from investing in football clubs. .
Click to expand...

That is the question, Standing claims he is the owner of 50%, whilst Power is claiming Gareth Barry owns that 50%. Barry denies this but does say he lent Standing some of the initial £800k (iirc).

Agents are also banned if I read it right. So if Standing proves his case that he owns 50% then they are in breach of the rules. So either way they are in breach and Power (and Swindon as entity I guess) has actively tried to hide this breach of rules.

Then you have the separate dispute around the 15% shares sale to Morfuni (or whatever their name is).
 
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Grumpy Git said:
Points deduction at minimum
Click to expand...
Putting aside which club is involved, should the punishment for ownership irregularities be points based or just focus on the individuals through fines and bans from current/future involvement?
 
sideshowrob said:
Don't forget there is also Clem Morfuzi who claims he had been 'sold' a 15% share in the club. The whole set up has the distinct stench of a Ponzi scheme.
Click to expand...

To be fair that is a summary of how the game has gone since the money rolled in.

mooro said:
Putting aside which club is involved, should the punishment for ownership irregularities be points based or just focus on the individuals through fines and bans from current/future involvement?
Click to expand...

Both there has to be a points based punishment as the entire club benefits in kind or other means AND a ban for the individuals. Irrespective of the club.
 
mooro said:
Putting aside which club is involved, should the punishment for ownership irregularities be points based or just focus on the individuals through fines and bans from current/future involvement?
Click to expand...
both plus kicked out of the league ?
 
Essexyellows said:
To be fair that is a summary of how the game has gone since the money rolled in.



Both there has to be a points based punishment as the entire club benefits in kind or other means AND a ban for the individuals. Irrespective of the club.
Click to expand...

Indeed as Standing (or Gareth Barry via Standing) has given Swindon Town around £6m in working capital.
 
So, aside from the issue of not being allowed to own a share of a club while acting as an agent ( is this definitely against the rules as isn't there a similar tie up with an agent and wolves?), it appears standing has generally acted in good faith towards the club.
Barry, similarly skirting the regulations regarding playing and investment/ownership, has otherwise kept out of it.
Clem M / Axis, are not implicated in any wrongdoing and again appear to have acted in good faith towards the club.
The Americans are also not implicated in anything yet, although there does appear to be some suggestions that they may be after a knockdown price somewhere down the line.
Power meanwhile.....????
 
mooro said:
So, aside from the issue of not being allowed to own a share of a club while acting as an agent ( is this definitely against the rules as isn't there a similar tie up with an agent and wolves?), it appears standing has generally acted in good faith towards the club.
Barry, similarly skirting the regulations regarding playing and investment/ownership, has otherwise kept out of it.
Clem M / Axis, are not implicated in any wrongdoing and again appear to have acted in good faith towards the club.
The Americans are also not implicated in anything yet, although there does appear to be some suggestions that they may be after a knockdown price somewhere down the line.
Power meanwhile.....????
Click to expand...

From the Court documents in the OP, on the regulations about Agents:

"Even though the terms are similar the crucial term that is not is in relation to whether the investor, whether that is Mr Standing or Mr Barry, owns beneficially 50% of the shares in Swinton. The reason why there had to be confidentiality about the beneficial interest, if there was one, or the fact of Mr Standing's or Mr Barry's involvement, was because of the Football Association's rules concerning the ownership of football clubs. Mr Standing has an interest in a company called First Touch Professional Management Ltd (FTPM) which is involved in the football agency business. Its main client is Mr Barry. The FA's regulations are now contained in the FA Regulations on Working with Intermediaries and they prohibit football intermediaries/agents from owning or having interests in football clubs. Mr Barry remains as a professional footballer, currently playing for West Bromwich Albion FC, and he too was unable to hold shares in any football club."
 
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