Reply To: Sharpe and Co Bid

[Bucksiron]

Look, as things stand SUFC Ltd is worth less than nothing, i.e. it’s a liability. We really need to see an up-to-date balance sheet but the one that is available reveals no assets and negative equity. The assets the club did have, which were significant, have been stripped away by Swann to cover the losses incurred by him over the years. These now appear to sit in Coolsilk, but that company has also made big losses based on the balance sheet available for it.

It’s highly unlikely things have got any better. Swann’s business was undoubtedly hit by covid but if you also look at his personal profile at Companies House there appear to have been all sorts of things happening around horse racing and bloodstock. Put simply, the Swanns’ finances appear to have taken a massive hit over the past few years — I say “appear” because obviously we can only see records from Companies House.

Either way, Swann seems to be in no position to take the club forward and without a sale administration looks inevitable. This is why I’ve suggested that the best option would be to leave the club and Swann to their fate. While, of course, it’s terrible for people to lose their jobs, if I was employed by SUFC Ltd I’d be looking very seriously for new employment. I’d be surprised if this wasn’t the case for most people who work for the club, including the players.

I think les’s post is very pertinent to all of this. What’s happened makes very little sense until you take the betting problem into account. It certainly appears to explain a lot. Given all of this I’d say that supporting the start of a new club is definitely something that should be debated. While far from an ideal solution it would, at least, give some hope unless a serious buyer for SUFC Ltd can be found, which at the moment looks increasingly unlikely, if not impossible given current circumstances.