Swindon AdvertiserCooper believes cash could be tight until court case is resolved (From Swindon Advertiser)

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Cooper believes cash could be tight until court case is resolved

Swindon Advertiser: Mark Cooper (right) with chairman Lee Power Mark Cooper (right) with chairman Lee Power

SWINDON Town manager Mark Cooper has suggested that it will be “difficult for the owner to fork out any more money” until the legal disputes involving current chairman Lee Power and Seebeck 87 Ltd are resolved.

The case of Swinton Reds 20 Ltd - the company publicised as taking charge of the football club in December - against former chairman Jed McCrory was adjourned in a London courtroom on Tuesday, as Swinton continue to seek an injunction preventing Seebeck from placing three new directors on the club’s board.

For now, those three individuals - Adam Fynn, David Smith and Debbie Priestnall - are considered “observer directors” by Swinton, though Seebeck disagree with terminology. They are not to vote on any resolutions until the case is formally heard by a judge in the coming weeks.

Swinton argue that they have seen an email suggesting that, should the trio be appointed to the club’s board, they will seek to vote Power and Sangita Shah off the board of directors, effectively assuming control of the club. Seebeck have previously released a statement claiming they still own Swindon Town.

While the legals are still being ironed out between the two sides’ lawyers, however, Cooper has hinted that the football side of the business could suffer, with Power either not able or not willing to put more cash into the club.

“Of course it will hinder things now, until it’s sorted out, because I would suggest until it is resolved it is difficult for the owner to fork out any more money,” he said.

“That’s the way it’s been since day one, so we just get on with it.”

Town intend to reduce their 32-man squad down to around 20 over the summer, with the playing budget set to be cut further as well in pursuit of self-sustainability.

The club will struggle to draft in new recruits while the ownership saga drags on.

Meanwhile, there are 17 players out of contract at the County Ground this summer and each will be free to speak to other clubs if they have not received the offer of a new deal from the Robins by the third Saturday in May.

The likes of Troy Archibald-Henville, Jay McEveley, Jack Barthram and Raphael Branco all need their futures to be resolved and, while the ownership battle in the courtrooms continues, Cooper revealed that he and Power would sit down to figure out as best they can a plan of action in the interim.

The pair held discussions yesterday regarding the potential extension of contracts at Swindon and decisions will be made of the coming fortnight.

Cooper said: “There have to be decisions made, to be fair to the players who are out of contract.

“It’s the last game on Saturday and we have to be fair to them.”

Comments (23)

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6:58am Fri 2 May 14

subbuteoles says...

After i win the lottery tomorrow night and invest 10 million in STFC there won.t be a cash problem, and then McCory and his Luton chums can bog off with their tails between their legs as Me and my mate Stilloyal will own the club with Lee Power looking after our interest!. COYRS.
After i win the lottery tomorrow night and invest 10 million in STFC there won.t be a cash problem, and then McCory and his Luton chums can bog off with their tails between their legs as Me and my mate Stilloyal will own the club with Lee Power looking after our interest!. COYRS. subbuteoles
  • Score: 5

7:00am Fri 2 May 14

port de soller says...

All I hope is the Court sorts all this c---p out
I just wish the Fans were told all the truth as who do the believe.
Surely it must be resolved so contract etc can be arranged,not only is Jed playing havoc with the club but also the players out of contract and the Fans who have been in the Dark since AB left.
It is time for STFC (the owners whoever they are)
COME CLEAN
All I hope is the Court sorts all this c---p out I just wish the Fans were told all the truth as who do the believe. Surely it must be resolved so contract etc can be arranged,not only is Jed playing havoc with the club but also the players out of contract and the Fans who have been in the Dark since AB left. It is time for STFC (the owners whoever they are) COME CLEAN port de soller
  • Score: 3

7:15am Fri 2 May 14

ScottLeitch says...

Breaking News: In a bizarre court mix up, center forward Nile Ranger is now owner of the club.
Breaking News: In a bizarre court mix up, center forward Nile Ranger is now owner of the club. ScottLeitch
  • Score: 25

7:33am Fri 2 May 14

Since 1950 says...

If seebeck win control then expect our better players to be sold off before we are put into administration and obscurity. Think I'm joking?
If seebeck win control then expect our better players to be sold off before we are put into administration and obscurity. Think I'm joking? Since 1950
  • Score: 17

7:45am Fri 2 May 14

Wildwestener says...

Since 1950 wrote:
If seebeck win control then expect our better players to be sold off before we are put into administration and obscurity. Think I'm joking?
Trouble is, things will drag on long enough that the "out of contract player will leave (an who can blame them) and the better "in contract" players will have to be sold to pay wages in the meantime to avoid administration.
Sadly, I fear the worst here. We will be lucky to have a club to watch next year at this rate.
[quote][p][bold]Since 1950[/bold] wrote: If seebeck win control then expect our better players to be sold off before we are put into administration and obscurity. Think I'm joking?[/p][/quote]Trouble is, things will drag on long enough that the "out of contract player will leave (an who can blame them) and the better "in contract" players will have to be sold to pay wages in the meantime to avoid administration. Sadly, I fear the worst here. We will be lucky to have a club to watch next year at this rate. Wildwestener
  • Score: 5

8:03am Fri 2 May 14

umpcah says...

" We will be lucky to have a club to watch next year at this rate." I have to agree and am glad that I haven`t treated myself to a season ticket !
" We will be lucky to have a club to watch next year at this rate." I have to agree and am glad that I haven`t treated myself to a season ticket ! umpcah
  • Score: -10

8:06am Fri 2 May 14

umpcah says...

ScottLeitch wrote:
Breaking News: In a bizarre court mix up, center forward Nile Ranger is now owner of the club.
Haha ! But where is the news we`re waiting for re Nile`s interview by the STFC Disciplinary Committee ?
[quote][p][bold]ScottLeitch[/bold] wrote: Breaking News: In a bizarre court mix up, center forward Nile Ranger is now owner of the club.[/p][/quote]Haha ! But where is the news we`re waiting for re Nile`s interview by the STFC Disciplinary Committee ? umpcah
  • Score: 2

8:26am Fri 2 May 14

Davidsyrett says...

How can Power be voted out if he owns the Club? Something not right here. I'm not sure he really owns it.
How can Power be voted out if he owns the Club? Something not right here. I'm not sure he really owns it. Davidsyrett
  • Score: 1

8:37am Fri 2 May 14

umpcah says...

Davidsyrett wrote:
How can Power be voted out if he owns the Club? Something not right here. I'm not sure he really owns it.
It seems that no-one knows who really owns it !
[quote][p][bold]Davidsyrett[/bold] wrote: How can Power be voted out if he owns the Club? Something not right here. I'm not sure he really owns it.[/p][/quote]It seems that no-one knows who really owns it ! umpcah
  • Score: 3

8:39am Fri 2 May 14

who am i says...

and so the excuses begin...not so long ago we were going to be a team pushing for promotion next season. come end of pre season cooper will be saying this is a season for mid table finish. what ever happens in court there is no way power is going to be putting more money in the club that is why the budget is being cut drastically so i sorry to say for me this is just another smoke screen. for once will the club just come out and tell the truth that we are going to model ourselfs on crewe and fester in the lower reaches of the league for seasons to come. cue the thumbs down!!!!!!
and so the excuses begin...not so long ago we were going to be a team pushing for promotion next season. come end of pre season cooper will be saying this is a season for mid table finish. what ever happens in court there is no way power is going to be putting more money in the club that is why the budget is being cut drastically so i sorry to say for me this is just another smoke screen. for once will the club just come out and tell the truth that we are going to model ourselfs on crewe and fester in the lower reaches of the league for seasons to come. cue the thumbs down!!!!!! who am i
  • Score: -15

8:40am Fri 2 May 14

eareds says...

Panto season again,
Panto season again, eareds
  • Score: 4

8:42am Fri 2 May 14

Wildwestener says...

Davidsyrett wrote:
How can Power be voted out if he owns the Club? Something not right here. I'm not sure he really owns it.
He can own more shares than anyone else but unless he has over 50% he can be outvoted on the Board. Clearly this is in question otherwise there wouldn't be a court case. As Cooper points out, Power will not spend any money before this is sorted so expect a pre-season of fire-sale to keep out of administration. Ad that, sadly, might be a best-case scenario. If we go into administration for a record 3rd time, we will be docked 20+ points and go down, or bust.
[quote][p][bold]Davidsyrett[/bold] wrote: How can Power be voted out if he owns the Club? Something not right here. I'm not sure he really owns it.[/p][/quote]He can own more shares than anyone else but unless he has over 50% he can be outvoted on the Board. Clearly this is in question otherwise there wouldn't be a court case. As Cooper points out, Power will not spend any money before this is sorted so expect a pre-season of fire-sale to keep out of administration. Ad that, sadly, might be a best-case scenario. If we go into administration for a record 3rd time, we will be docked 20+ points and go down, or bust. Wildwestener
  • Score: 2

8:46am Fri 2 May 14

uruguay whitey the red says...

and if lee power goes then so does the spurs link,its obviously jed v lee in the battle of the chinless wonders!!.
any comment from the football leagues fit and proper numptys??
and if lee power goes then so does the spurs link,its obviously jed v lee in the battle of the chinless wonders!!. any comment from the football leagues fit and proper numptys?? uruguay whitey the red
  • Score: 1

9:01am Fri 2 May 14

Davidsyrett says...

Wildwestener wrote:
Davidsyrett wrote:
How can Power be voted out if he owns the Club? Something not right here. I'm not sure he really owns it.
He can own more shares than anyone else but unless he has over 50% he can be outvoted on the Board. Clearly this is in question otherwise there wouldn't be a court case. As Cooper points out, Power will not spend any money before this is sorted so expect a pre-season of fire-sale to keep out of administration. Ad that, sadly, might be a best-case scenario. If we go into administration for a record 3rd time, we will be docked 20+ points and go down, or bust.
I wonder if he paid of McCrory for his work done here but hasn't bought out his shares. Maybe he has 40% between him and Shah and the other 3 have 60%. Having said that, why if it's that simple is there a court case?
[quote][p][bold]Wildwestener[/bold] wrote: [quote][p][bold]Davidsyrett[/bold] wrote: How can Power be voted out if he owns the Club? Something not right here. I'm not sure he really owns it.[/p][/quote]He can own more shares than anyone else but unless he has over 50% he can be outvoted on the Board. Clearly this is in question otherwise there wouldn't be a court case. As Cooper points out, Power will not spend any money before this is sorted so expect a pre-season of fire-sale to keep out of administration. Ad that, sadly, might be a best-case scenario. If we go into administration for a record 3rd time, we will be docked 20+ points and go down, or bust.[/p][/quote]I wonder if he paid of McCrory for his work done here but hasn't bought out his shares. Maybe he has 40% between him and Shah and the other 3 have 60%. Having said that, why if it's that simple is there a court case? Davidsyrett
  • Score: 0

10:24am Fri 2 May 14

outlaw2 says...

When is the case due to come back to court?
Time is very much of the essence
When is the case due to come back to court? Time is very much of the essence outlaw2
  • Score: 0

10:46am Fri 2 May 14

old town robin says...

It's clear we will struggle to bring in new signings requiring a fee if this ownership business is not sorted out. It should also be clear a decision has to be reached on players out of contract on or before 17th May as they will be able to speak to any club they like and walk for free if an offer is not made by then. I don't see why the court case would have any bearing on deciding who is going and who we would like to keep, it's not a financial matter of immediate consequence. in fact whomever is the owner will have to deal with it regardless of events. But I guess the question is how they deal with it

No new date has been set for the courts, so in my mind it should be business as usual and all present players of STFC should be told what their futures are with the club, go on holiday and after next week know if they are either returning in June/July or have their agents try to find them a new club.

Should Lee Power lose this battle and decides he wants out and his money back I would think it can only be fulfilled by the fire sale of any marketable assets, or MCCrory buying back his equity shares or loans that he has put into the club. So where he would get the money to do that would be questionable and where does that leave us with the penniless Seebeck 87 once again in charge.

If there is anyone still under the illusion that MCCrory paid his £1 to Black to save the club, it's time to wake up, how much more will it take to convince them he did it for one reason and one reason only and that was to make as much money for him and his cronies from a zero investment, He has already milked as much as he could until nothing was left and now he sees the opportunity to come back for a second helping now that Lee Power has settled court cases like that of Adam Rooney and other creditors and put real money into the day to running of the club. I'm sorry but I don't seem him or any of his cronies as being fit and proper people to run a football club and sooner or later one would think the old f**ts at FL headquarters would be asking how he intends to finance the club with no money.
It's clear we will struggle to bring in new signings requiring a fee if this ownership business is not sorted out. It should also be clear a decision has to be reached on players out of contract on or before 17th May as they will be able to speak to any club they like and walk for free if an offer is not made by then. I don't see why the court case would have any bearing on deciding who is going and who we would like to keep, it's not a financial matter of immediate consequence. in fact whomever is the owner will have to deal with it regardless of events. But I guess the question is how they deal with it No new date has been set for the courts, so in my mind it should be business as usual and all present players of STFC should be told what their futures are with the club, go on holiday and after next week know if they are either returning in June/July or have their agents try to find them a new club. Should Lee Power lose this battle and decides he wants out and his money back I would think it can only be fulfilled by the fire sale of any marketable assets, or MCCrory buying back his equity shares or loans that he has put into the club. So where he would get the money to do that would be questionable and where does that leave us with the penniless Seebeck 87 once again in charge. If there is anyone still under the illusion that MCCrory paid his £1 to Black to save the club, it's time to wake up, how much more will it take to convince them he did it for one reason and one reason only and that was to make as much money for him and his cronies from a zero investment, He has already milked as much as he could until nothing was left and now he sees the opportunity to come back for a second helping now that Lee Power has settled court cases like that of Adam Rooney and other creditors and put real money into the day to running of the club. I'm sorry but I don't seem him or any of his cronies as being fit and proper people to run a football club and sooner or later one would think the old f**ts at FL headquarters would be asking how he intends to finance the club with no money. old town robin
  • Score: 5

11:11am Fri 2 May 14

LeGod says...

This is why Jed has done this to cause as much disruption as he can to this club and screw Power up so we cant sign players and cause as much unrest with the current squad that we want to re sign on new contracts.
Jed is a real nasty bit of work and is rotten to the core with all his bull and slimey con tricks. So may people got taken in by him as he bought them a few drinks thinking he was a great bloke but all the time he was plotting and scheming and I've said it several times which is wht Hereford -Kidderminster and Barnsley all showed him the door as the y knew what a scheming lying b*****d he is. If he screws this club over this will be his last ever attempt to get into a football club as he will be blacklisted which doesn't do much for us. I hope this legal wrangle can get sorted quickly and Power wins the day otherwise we are screwed as Jed will have one thing in mind to sell the players that he can to pocket the money and run us into the ground and then do a runner and he will be on to his next con somewhere else.
These are worrying times for us as fans and I hope power can pull out all the stops to sort this out quickly, I do feel however Jed is going to drag his feet as he has timed this purposely now to cause as much damage as he can.
This is why Jed has done this to cause as much disruption as he can to this club and screw Power up so we cant sign players and cause as much unrest with the current squad that we want to re sign on new contracts. Jed is a real nasty bit of work and is rotten to the core with all his bull and slimey con tricks. So may people got taken in by him as he bought them a few drinks thinking he was a great bloke but all the time he was plotting and scheming and I've said it several times which is wht Hereford -Kidderminster and Barnsley all showed him the door as the y knew what a scheming lying b*****d he is. If he screws this club over this will be his last ever attempt to get into a football club as he will be blacklisted which doesn't do much for us. I hope this legal wrangle can get sorted quickly and Power wins the day otherwise we are screwed as Jed will have one thing in mind to sell the players that he can to pocket the money and run us into the ground and then do a runner and he will be on to his next con somewhere else. These are worrying times for us as fans and I hope power can pull out all the stops to sort this out quickly, I do feel however Jed is going to drag his feet as he has timed this purposely now to cause as much damage as he can. LeGod
  • Score: 10

11:36am Fri 2 May 14

Old-Stager, Hilperton says...

eareds wrote:
Panto season again,
Oh no it isn't !
[quote][p][bold]eareds[/bold] wrote: Panto season again,[/p][/quote]Oh no it isn't ! Old-Stager, Hilperton
  • Score: 5

11:43am Fri 2 May 14

Old-Stager, Hilperton says...

I have already paid for my season ticket before March 17th; so hypothetically if Swindon Town F.C. go out of business before next season, what shall I do with myself on Saturday Afternoons and Tuesday Evenings after a lifetime of following thr Town ?
A. Follow Bristol City
B. Follow Bristol Rovers
C. Follow Yeovil Town
D. Watch Jeff Stelling on Sky TV.
Advice required from fellow Town Fans please !
I have already paid for my season ticket before March 17th; so hypothetically if Swindon Town F.C. go out of business before next season, what shall I do with myself on Saturday Afternoons and Tuesday Evenings after a lifetime of following thr Town ? A. Follow Bristol City B. Follow Bristol Rovers C. Follow Yeovil Town D. Watch Jeff Stelling on Sky TV. Advice required from fellow Town Fans please ! Old-Stager, Hilperton
  • Score: -3

1:56pm Fri 2 May 14

tifosi says...

Old-Stager, Hilperton wrote:
eareds wrote:
Panto season again,
Oh no it isn't !
Look behind you!
[quote][p][bold]Old-Stager, Hilperton[/bold] wrote: [quote][p][bold]eareds[/bold] wrote: Panto season again,[/p][/quote]Oh no it isn't ![/p][/quote]Look behind you! tifosi
  • Score: -1

2:08pm Fri 2 May 14

the don69 says...

Old-Stager, Hilperton wrote:
I have already paid for my season ticket before March 17th; so hypothetically if Swindon Town F.C. go out of business before next season, what shall I do with myself on Saturday Afternoons and Tuesday Evenings after a lifetime of following thr Town ?
A. Follow Bristol City
B. Follow Bristol Rovers
C. Follow Yeovil Town
D. Watch Jeff Stelling on Sky TV.
Advice required from fellow Town Fans please !
None of the above Old-Stager! take a nice walk to your nearest pub lol!!!!!!!!
[quote][p][bold]Old-Stager, Hilperton[/bold] wrote: I have already paid for my season ticket before March 17th; so hypothetically if Swindon Town F.C. go out of business before next season, what shall I do with myself on Saturday Afternoons and Tuesday Evenings after a lifetime of following thr Town ? A. Follow Bristol City B. Follow Bristol Rovers C. Follow Yeovil Town D. Watch Jeff Stelling on Sky TV. Advice required from fellow Town Fans please ![/p][/quote]None of the above Old-Stager! take a nice walk to your nearest pub lol!!!!!!!! the don69
  • Score: 3

3:13pm Fri 2 May 14

smirg kcab says...

Old-Stager, Hilperton wrote:
I have already paid for my season ticket before March 17th; so hypothetically if Swindon Town F.C. go out of business before next season, what shall I do with myself on Saturday Afternoons and Tuesday Evenings after a lifetime of following thr Town ?
A. Follow Bristol City
B. Follow Bristol Rovers
C. Follow Yeovil Town
D. Watch Jeff Stelling on Sky TV.
Advice required from fellow Town Fans please !
Go in the turban jed might buy you a pint from your season ticket money.
He's a good bloke and kind hearted, and loves football.
Paying a £1 for the club and finishing 8th I think that tells its own storey,
don't understand the fans giving him abuse.
We are jeds red and white army.
Jed please double your pound and we might win the league next season
[quote][p][bold]Old-Stager, Hilperton[/bold] wrote: I have already paid for my season ticket before March 17th; so hypothetically if Swindon Town F.C. go out of business before next season, what shall I do with myself on Saturday Afternoons and Tuesday Evenings after a lifetime of following thr Town ? A. Follow Bristol City B. Follow Bristol Rovers C. Follow Yeovil Town D. Watch Jeff Stelling on Sky TV. Advice required from fellow Town Fans please ![/p][/quote]Go in the turban jed might buy you a pint from your season ticket money. He's a good bloke and kind hearted, and loves football. Paying a £1 for the club and finishing 8th I think that tells its own storey, don't understand the fans giving him abuse. We are jeds red and white army. Jed please double your pound and we might win the league next season smirg kcab
  • Score: 3

5:58pm Fri 2 May 14

buckobassettboy says...

So since ''the shred'' arrived and went, hands up who continued to buy their season tickets?Mugged over by a habitual conman-I and I am sure others saw through this piece of garbage waybackwhen.No money from me since PDC went and I will continue to stay away.How can anyone condone putting money through the turnstiles to feed these parasites-more money than sense it appears and ample supplies of KY jelly!!
So since ''the shred'' arrived and went, hands up who continued to buy their season tickets?Mugged over by a habitual conman-I and I am sure others saw through this piece of garbage waybackwhen.No money from me since PDC went and I will continue to stay away.How can anyone condone putting money through the turnstiles to feed these parasites-more money than sense it appears and ample supplies of KY jelly!! buckobassettboy
  • Score: -3

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