This is a little concerning, whilst it's got sod all to do with the trust the selling of shares, the new owners must work with the trust http://www.swanstrust.co.uk/2016/07...over-ownership-of-swansea-city-football-club/
As a founder member who put a lot of money into the trusts shares the owners should scrap the trust now and share the shares amongst themselves or sell them to a proper share holder.....Its past its sell by date and has no power whatsoever and is a waste of time.....get shot we dont need it any more....
The way the trust has been treated of late is a massive indicator to the fact that Swansea City Football Club aren't the club neutrals looked up to anymore and we just got in line with everyone else and are trudging along amongst the greed . Was great why it lasted ........but we're just a " Them " now .People the club owe the most to walked over like common fools , not only by the new owners but by some of the old Morgan types . On a side note , Lille have received multiple offers over 10 € for Eder and only see it going higher ...... " From a Jack to a Jester " coming to a video store near you .
Is it time for the trust to walk away from the club and instead move its focus to football in Swansea. If the Trust sold all its shares for £20m then just from the interest alone they could spend £500k-£1m a year on grassroots football in Swansea ad infinitum
I thought the trust was unable to sell their shares at the profit rate as the other " Owners " such as Morgan .
I think they can sell providing they have agreement from trust members, no idea where the profit will go too though. And in terms of company law, I think if they increase their stake holding to 75% then they have to buy the whole club, think that's why they have only bought 60% of the shares, so not to go to that level or near it.
I thought they lowered the ownership rate to 60 % to smoke and mirror the trust into thinking they can't make and sell more shares . But along with the 60 % shares they bought , was a quarentee from the remaining owners that the new owners have a further 15 % voting quarentee written into the contract so they can ultimately do anything they want .
Well that is not going to be public knowledge, and to be honest I don't know if that is legal even, but I am not an expert in company law, so we will see what happens when it happens.
Yes great idea but unfortunately nobody in the trust actually own any shares, they belong to the club......I and many many others in the trust were left disappointed with the way the club treated us and was disillusioned by the whole set up,,, We were nothing more than a cash cow during troubled times and now the club has money they ignored the trust. We at the beginning would have a representative at all the board meeting and although we never had a vote we did have a voice and an input but over the years the board was involving the trust less and less until finally the club negotiated a take over that the trust was unaware of until it was almost done and dusted and to me that spells the end of the trust and all it stood for....I urge fans to stop putting money into the trust and give any donations towards grass roots football instead,,,
Certain existing boardroom members have handed over their voting rights, so that while the Yanks have purchased 60%, they will in effect get the 75% controlling share without having to have purchased them??........ If the trust think that these two Yanks are going to indulge them, then they are sadly mistaken, it never happened in the states with DC, and it will not happen here.
