Town takeover close (From Swindon Advertiser)
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SWINDON TOWN: Town takeover close
11:08am Wednesday 30th January 2013 in STFC News
Town takeover close
AN agreement has been reached in principle which will see a consortium led by Jed McCrory take over Swindon Town, the Advertiser understands.
It is believed that the party in question came to an initial arrangement late last night which will see them take on a large chunk of Andrew Black’s 98 per cent shareholding in the club, and after further successful talks today a sale could be completed as early as this evening.
McCrory is the owner of Evo-Stik Southern League Premier Division outfit Banbury United, having assumed control at the Oxfordshire club last year, but the identities of the rest of the group remain a mystery.
Comments(38)
SeanG92
says...
11:22am Wed 30 Jan 13
Lets hope its done ASAP to Paolo can add a couple of new faces to the squad, especially with the injuries and L Rooney, Cox and Benson all heading off we will need a few extra guys in there I think.
COYR's
MITTED
says...
11:22am Wed 30 Jan 13
COYR
grove red
says...
11:23am Wed 30 Jan 13
whizzy1978
says...
11:24am Wed 30 Jan 13
ChrisWantageRed
says...
11:24am Wed 30 Jan 13
mallorca
says...
11:33am Wed 30 Jan 13
swinloz1968
says...
11:35am Wed 30 Jan 13
swwindon61uk
says...
11:35am Wed 30 Jan 13
Don't think anything can beat the BEST takeover!
the don69
says...
11:49am Wed 30 Jan 13
swwindon61uk
says...
11:51am Wed 30 Jan 13
I had not really heard of Fitton or Wray and they did ok didn't they!
RedArmy74
says...
11:53am Wed 30 Jan 13
Rogersforengland
says...
11:53am Wed 30 Jan 13
louiscassius
says...
11:56am Wed 30 Jan 13
Lets get this done asap, so we can continue with another brilliant season!!
Louis :-))
swwindon61uk
says...
11:56am Wed 30 Jan 13
Rogersforengland wrote:Can't see anything being signed if it is not going to be ok for all concerned,although i do understand where you are coming from.
why is everyone so excited and saying let's push it through..... how does anyone know if they have any real money, they could still insist on administration to remove debts for instance. He has owned Banbury United for a year..... does he and the group really have the funds to take us into the Championship, let's hope so and hope that our board are not just looking for a quick sale as many fans seem to be
Is this the bidder PDC liked i wonder?
Pewsham Red
says...
11:59am Wed 30 Jan 13
Rogersforengland wrote:Fair point, to a degree, as we may be foregoing long term stability for short term safety, but as we are two days from potential administration, then I think we would all take it, for now.
why is everyone so excited and saying let's push it through..... how does anyone know if they have any real money, they could still insist on administration to remove debts for instance. He has owned Banbury United for a year..... does he and the group really have the funds to take us into the Championship, let's hope so and hope that our board are not just looking for a quick sale as many fans seem to be
the don69
says...
12:01pm Wed 30 Jan 13
Rogersforengland wrote:If Black ain't checked them out,then he really is fool-hearty,but we don't know didley sh1t,so it's just a matter of watching and waiting to find out our fait-accompi!!!!!!!!
why is everyone so excited and saying let's push it through..... how does anyone know if they have any real money, they could still insist on administration to remove debts for instance. He has owned Banbury United for a year..... does he and the group really have the funds to take us into the Championship, let's hope so and hope that our board are not just looking for a quick sale as many fans seem to be
!!
London Red
says...
12:06pm Wed 30 Jan 13
.
We have no idea on who is involved, what terms have been agreed and therefore the state of the balance sheet amd we don't how this will effect the playing budget for this season or beyond
.
Until some of those come to light we can not really comment one way or another
.
On the other news about Rooney - that is a great deal for Cheltenham
.
I know some don't think so but Rooney also had a massive impact in our title bid with a lot of assists and some important goals
.
I think Cheltenham could be a good bet if they were to add him to Benson
.
What odds on a 1-0 win Benson scoring from a Rooney cross on their debuts - just like it was when Rooney made his debut for us!
RedArmy74
says...
12:06pm Wed 30 Jan 13
'It's my understanding that the deal, which remains subject to FL approval, that has been reached ensures stability at the club...'
'I also understand that the deal, when it goes through, would get rid of all and any threat of administration.'
Ginge09
says...
12:07pm Wed 30 Jan 13
It's my understanding that the deal, which remains subject to FL approval, that has been reached ensures stability at the club..."
I also understand that the deal, when it goes through, would get rid of all and any threat of administration.
Good work Sam!
NewburyRobin
says...
12:07pm Wed 30 Jan 13
swwindon61uk
says...
12:15pm Wed 30 Jan 13
NewburyRobin wrote:Do we know that these do not have considerable funds?
I never usually comment here on speculation however I am with Rogersforengland on this one. Lets hope we are wrong because with the way the team is performing & relatively high profile I would have hoped we could have attracted backers with considerable funds.
Paying £13m to me would be considerable!
Stfc_BristolRed
says...
12:15pm Wed 30 Jan 13
London Red wrote:Ah yes, Cheltenham..... Soon to change their name to 'Swindon Town Reserves. :-)
Not going to comment on the takeover until we actually know something about it . We have no idea on who is involved, what terms have been agreed and therefore the state of the balance sheet amd we don't how this will effect the playing budget for this season or beyond . Until some of those come to light we can not really comment one way or another . On the other news about Rooney - that is a great deal for Cheltenham . I know some don't think so but Rooney also had a massive impact in our title bid with a lot of assists and some important goals . I think Cheltenham could be a good bet if they were to add him to Benson . What odds on a 1-0 win Benson scoring from a Rooney cross on their debuts - just like it was when Rooney made his debut for us!
the don69
says...
12:19pm Wed 30 Jan 13
Lazaat
says...
12:24pm Wed 30 Jan 13
I agree with LR, lets wait and see what the details of this take over are, at the moment i am not overly exited but of course i am pleased that the threat of Administration will no longer be with us. I want to know if this new consortium has the financial clout and the desire to push us on to the championship? They will have a plan, will this include re-building the CG or maybe moving away from the CG and building a new ground on the outskirts of Swindon and what is their plan regarding Paulo and the team?
For us to progress and keep to the "Plan" there needs to be investment, are the new consortium intending to do that and have they got the funds to do that? Fingers crossed but i am certainly not assuming anything at the moment.
swwindon61uk
says...
12:25pm Wed 30 Jan 13
London Red wrote:He scored two goals in 3-0 and 4-0 wins for us last year,guess that can be classed as some!
Not going to comment on the takeover until we actually know something about it
.
We have no idea on who is involved, what terms have been agreed and therefore the state of the balance sheet amd we don't how this will effect the playing budget for this season or beyond
.
Until some of those come to light we can not really comment one way or another
.
On the other news about Rooney - that is a great deal for Cheltenham
.
I know some don't think so but Rooney also had a massive impact in our title bid with a lot of assists and some important goals
.
I think Cheltenham could be a good bet if they were to add him to Benson
.
What odds on a 1-0 win Benson scoring from a Rooney cross on their debuts - just like it was when Rooney made his debut for us!
Started of well but lost his way IMO.
I think he was one of the players disgruntled with the daily training?
So it was only going to end in departure IMO.
Oxon-Red
says...
12:25pm Wed 30 Jan 13
swwindon61uk wrote:I would like to see this £13m in the holding company wiped out so it is not there to come back and haunt us every 2-3 years.
NewburyRobin wrote: I never usually comment here on speculation however I am with Rogersforengland on this one. Lets hope we are wrong because with the way the team is performing & relatively high profile I would have hoped we could have attracted backers with considerable funds.Do we know that these do not have considerable funds? Paying £13m to me would be considerable!
I keep doing the Euromillions in the hope that I could write it off.
COYMR
madterrier
says...
12:29pm Wed 30 Jan 13
Suggest we just wait until details are made public and then let those who understand these matters (i.e. accountants) explain them to us as best they can.
swwindon61uk
says...
12:30pm Wed 30 Jan 13
Oxon-Red wrote:Same here Oxon!
swwindon61uk wrote:I would like to see this £13m in the holding company wiped out so it is not there to come back and haunt us every 2-3 years.
NewburyRobin wrote: I never usually comment here on speculation however I am with Rogersforengland on this one. Lets hope we are wrong because with the way the team is performing & relatively high profile I would have hoped we could have attracted backers with considerable funds.Do we know that these do not have considerable funds? Paying £13m to me would be considerable!
I keep doing the Euromillions in the hope that I could write it off.
COYMR
swwindon61uk
says...
12:35pm Wed 30 Jan 13
madterrier wrote:can not see it being £13m either,not in one go anyway.
As LR has said, we don't know any details whatsoever yet. We don't know what proportion of Andrew Black's loans they have taken over or what they have paid him - but I doubt if it is anywhere near £13m.
Suggest we just wait until details are made public and then let those who understand these matters (i.e. accountants) explain them to us as best they can.
But like most,happy to clear the threat of admin but let's wait and see.
Apparently money is trying to be made available for us for this transfer window.
ShearerShearer
says...
12:40pm Wed 30 Jan 13
stevefol
says...
12:42pm Wed 30 Jan 13
grove red
says...
12:47pm Wed 30 Jan 13
the wizard
says...
12:54pm Wed 30 Jan 13
grove red wrote:Yes, indeed it is and a very welcome sight and what a relief for all of us. I just hope funds are to be put in place to at least keep Hollands and Martin and the possibility of Madine as well would be the icing on the cake for a certain emotional Italian at the club.
Sale done just the FL aproval.
Perhaps we can all draugh breath now after a rather anxious period. I'm still not convinced about JED but lets hope the guys behind him are as transparent as the former board ie:Fitton and Wray. If they are then I think we will all be happy.
Davethered
says...
1:03pm Wed 30 Jan 13
Davethered
says...
1:04pm Wed 30 Jan 13
the wizard
says...
1:25pm Wed 30 Jan 13
Davethered wrote:Is that short for Big Cheese ? LOL
B1CH
BillyLucas4me
says...
5:06pm Wed 30 Jan 13
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No worries then that they might read this!
Lambourn Red says...
11:13am Wed 30 Jan 13