League Two Lee Power

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."
Thank you.
I wonder at what point his income from being an agent (does he represent anyone else of any, we, standing?) will fall below what he could make from club ownership? Can see this as having been a career planning move for him once Barry quits, not looking so clever now
 
Thank you.
I wonder at what point his income from being an agent (does he represent anyone else of any, we, standing?) will fall below what he could make from club ownership? Can see this as having been a career planning move for him once Barry quits, not looking so clever now

Unless he was going to get money back via agents fees etc, I can only see them making money from selling the club or the likely purchase/development of the County Ground (although can't see how from the size of the land available).
 
The Judge summed things up for the game across the board going forward when he said nobody was going to stump up nigh on 8 million to buy a football club during this pandemic.

i haven't read the whole story but am i right in thinking 2 people say they have 50% each and another says he has 15%

Once again it's the fans that will suffer but as we all know we don't count in real terms until season tickets go on sale.
 
Would the EFL have the balls to deduct points and/or impose financial penalties to any of its members during the current climate? They've always been reluctant to dish out maximum punishments and this now gives them a great excuse to sit on their hands while it all gets brushed under a very bumpy carpet.
 
Would the EFL have the balls to deduct points and/or impose financial penalties to any of its members during the current climate? They've always been reluctant to dish out maximum punishments and this now gives them a great excuse to sit on their hands while it all gets brushed under a very bumpy carpet.

No they wouldn't.
 
Would the EFL have the balls to deduct points and/or impose financial penalties to any of its members during the current climate? They've always been reluctant to dish out maximum punishments and this now gives them a great excuse to sit on their hands while it all gets brushed under a very bumpy carpet.
They have just docked more points from Macclesfield
 
The Judge summed things up for the game across the board going forward when he said nobody was going to stump up nigh on 8 million to buy a football club during this pandemic.

i haven't read the whole story but am i right in thinking 2 people say they have 50% each and another says he has 15%

Once again it's the fans that will suffer but as we all know we don't count in real terms until season tickets go on sale.

No. In name, Lee Power owns 100% of the holding company shares that owns Swindon Town. The dispute is that Michael Standing says he owns 50% of them but Power has been holding them "in Trust", hence why Standing has been funding working capital as part of the agreement. Power claims that 50% is owned by Gareth Barry rather than Standing but Gareth Barry denies this. Standing had his accountant on the board and online access to the club's accounts until Power chucked the Accountant off and changed log in details to the accounts.

The 15% comes from an Aussie investor (Axis Football Holdings Ltd) who bought that stake for £1.1m but a separate legal claim is being made by Axis as Power hasn't transferred 15% of shares (the last ruling pretty much confirmed Power will have to do this). Power wanted Axis to convert this deal to a loan due to a tax bill resulting from the deal but they refused, and subsequently Power hasn't transferred the shares whilst still trying to convert it to a loan. Michael Standing has said the 15% will have to come out of Power's 50% shares.

In addition, the Matt Ritchie sell on clause was worth £1.85m to Swindon and Power said to Standing that they'd use it to pay off the £2m debt to the previous owner. So Standing paid his £75k of the £150k to make the total to £2m assuming it would be paid over. This money was confirmed by the previous owner that the debt hasn't been paid off so it appears that Power has pocketed the £1.925m as well.
 
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."
 
All through that article they refer to "Swinton" is that a standard typo or just the level of their spelling mistakes (again).
Swinton is a small suburb of Greater Manchester.... Swinton Palais is a superb example of Art Deco architecture, both inside and out, which plays host to tea dances most weeks, as well as Northern / Rare soul allnighters, when were not in lockdown, on a bi monthly basis

I doubt if they have any connection whatsoever with the shower at the other end of the A420- the promoters of the soul allnighters are born and bred Bolton supporters

theres also an insurance company by the name of Swinton

no surprise given their previous track record that any involvement with Swindle Town tends to be surrounded in some sort of nefarious, underhand activities
 
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