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If the trust have £800,000 TJO that should be enough for a down payment for the ground my £1000 would soon follow.
Just to clarify, Scunthorpe United FC Community Sports and Education Trust, which has £897000 funds carried forward in its most recent accounts, is not The Iron Trust.
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Cameron Burgess a regular in the Ipswich L1 promotion side!
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In the most recent accounts the club has negative total equity of £2.3m, whereas in the accounts to June 2013 total equity was positive at £2.8m.
I’m struggling to see how that’s a better financial position, but then Peter is cleverer than all of us, as evidenced by his recent refusal to answer questions during the Humberside interview on the basis that his interviewer wouldn’t be capable of understanding, so doubtless he’s right..
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Thankhand was a spectacularly poor idea, as evidenced by its lack of success.
It was particularly embarrassing that Swann associated the club with it.
If there was any value to it, and the rights were owned by the club, its value wouldn’t be reflected in the accounts, as you can only include the value of intangible assets (including trademarks, copyright etc,) if you’ve paid for them.
Equally, I suspect that any upside would be to Swann’s benefit, rather than the club’s, and that despite using the club website to promote the idea, there was little chance that the club would benefit.
I was being sarcastic in reference to earlier comments about the lack of club assets, at the same time as remembering one of our great leader’s scintillating business ideas. Has anyone actually told him what a “Spyglass” is, and so why his James Bond-themed bar in Blackpool is so ridiculously irrelevantly named??
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Surely only the accounting convention precluding valuation of internally developed intellectual property is preventing the innovative Thankhand (TM) from being valued at millions in the club accounts?
https://www.scunthorpe-united.co.uk/news/2020/april/thankhand/
Unless Peter was only using the club to promote yet another stunningly successful business idea…
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None.
Interesting that the top 3 transfers from the National League all went to Peterborough
Lee Tomlin from Rushden and Diamonds to Peterborough in 2010 for £225,000
Shaun Brisley from Macclesfield to Peterborough in 2012 for £350,000
Jack Taylor from Barnet to Peterborough for £500k in 2020.
Wasn’t Vardy to Leicester considered the record for non-league? On a technicality, Fleetwood had been promoted to the league before he signed for Leicester, but he left well before the new season started.
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If only I’d donated my shares to the Swann family as Peter requested nine years ago. He said it would make it easier for him to sell if I did that.
I blame myself.
Sorry.
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Also worth noting that the BT roundup appears on YouTube for those without subscriptions. Hopefully the link works…
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Not many appearances in the last month or so though. Presumably unable to play against Mansfield, but would guess either not especially rated by Hill, or one who possibly “feared injury”…
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Maybe she didn’t know?
It’s a Coolsilk asset now, not SUFCs, so she may not have been informed.
That would have involved courtesy, common decency etc.
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Swann was shown to be a mouthy pratt there, and a braggart here.
not much difference.
He never took their ground though.[/quote]
He tried to relocate Trinity, but the Blues Club (supporters’ association) owned (own) the pitch and wouldn’t go along with his plans, so he left the club ‘debt free’ but with an unsustainable wage bill that arguably ultimately led to the first relegation in their 100+ year history.
A similar arrangement exists at Chelsea, where Abramovich owns everything at Stamford Bridge except the pitch, which is owned by 13000+ fans via the Chelsea Pitch Owners’ plc.
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The 115% wages to turnover in the 2014 accounts was only the start; subsequent years were 156.7%, 132.1%, 131.6%, 137.0%, 143.0% before the funds dried up to 77.8% in 2020.
If I had to choose between the ‘astute businessman’ and the ‘hobbyist’, I know who I think has been the better custodian of the club over the years…
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£12m wasted? That’s just the loan.
There’s also been the best part of £8m in additional share issues since Swann arrived, and the profit and loss account has gone from £111,938 in the 2012 accounts (the last before share issues started) to -£19,565,559 in 2020 (the most recent available).
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I can’t understand why he can’t use the ground as security on a loan to pay off the EFL loan.
Didn’t he tell us the reason he transferred it out of the club was because banks wouldn’t lend to football clubs? Surely now is an opportune time to benefit from this masterstroke?
Yes, it would be risky. But so was the reckless overspending over a number of years that has brought us here…
Presumably the difference is who would be taking the risk and suffering the potential consequences? The previous losses haven’t worked out too badly for some given the ‘transfer of assets’, but there aren’t many assets left to compensate for misjudgment now…
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I always found it curious that a man who told us he “wasn’t a property developer” should buy his shares via ‘Coolsilk Property and Investment Ltd.’, particularly after events at Gainsborough, and that his first communication with shareholders was to ask them to donate their shares so that he’d be able to sell the club more easily in future.
His second move was to abolish AGMs, making it all the more strange that he should now not only want to reinstate them, but to have additional meetings with smaller shareholder groups. It’s hard to believe he’s really that interested in what anyone has to say given past events…
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If only we were run by a ‘developer’ who aspires to match “anything London has to offer” when running a bar.
Perhaps if the Scunthorpe demographic included a sizeable number of wannabe James Bonds we might be the beneficiaries of such quality surroundings….
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