"Investors"

[alansmithccfc]

Another twist in the secret saga of Jim Little, they've now invested in Swindon


Swindon Town would appear to now be under the control of a company based in Portugal. Very little in the way of details about just who is now in control of our club has been forthcoming after the deal was completed late on Tuesday night.

Swindon Town Football Club have once again failed to win any PR prizes in their shoddy announcement of the completed takeover of the club.

Many questions remmain unswered as fans are left to guess just who is now in full charge of our football club and just what they propose to do with it.

It was announced that Best Holdings SGPS SA have taken over control at the Conty Ground, buta ll that this tells us is that they originate or are based in Portugal due to the SGPS SA.

Who are Best Holdings? What do they do? Do the men with the cash have names? Do they actually have any cash? Is this another Michael Knighton Manchester United typed fiasco?

The club website has promised more details will be released within the next few days. I would have thought that a competant organisation would have had enough time during the past few weeks to have had a press statement all ready prepared for this announcement. The mystery just gives the fans even more reason to be sceptical about the whole situation at the County Ground.

TrustSTFC are quite rightly concerned about just what the new investors have planned for the club, and they have invited them and their appointee, Rufus Brevett, to the latest fans meeting at the Corssways Suite at the Moonrakers Public House in Stratton on Saturday at 11:30pm. TrustSTFC comminications officer, Andy Ratcliffe, is hoping that they accept the invitation and take the opportunity to show a willingness to engage with the fans at an early stage.

Hopefully all will be revealed very soon and we can look forward to a new era of financial stability and a brighter future at the club . Meanwhile, we are left to keep our fingers crossed that it all doesn't collapse before we get to know just exactly who these new backers are.


Meanwhile staff at the County Ground are expected to officially meet one of the men who will be involved in the day-to-day running of the club under the new, as yet un-named, owners.

It is thought the man in question is Jim Little, who has previously been involved as vice chairman at Irish club Cork City.

Given the lack of information, about the new owners, the Swindon Town Supporters Trust has written to the club asking for a meeting with the new investors.

Chairman Paul Davis says people need information:

"What people want to know is who they are and what their intentions are for the club and I think it's a little unfortunate that so far that question hasn't been answered.

"Most fans are really fed-up of the ongoing speculation and would like nothing more then to welcome new staff to the football club. It's unfortunate if this sort of ongoing lack of information engenders suspicion."

So it says he is previous vice chariman with us, does that m ean hes gone, or has he stepped down from being chairman.

What does it mean??

Very dodgy very confusing

[Risteard]

I think vice-chairman was kind of a moniker he was using to safeguard his own money until he got Tynan in.

Seems to me like the Swindon deal isn't a personal one, but probably that of his investment firm.

One thing that reassures me about the discreetness of it all is that him being buddies with BL and following City across Europe is actually true, and that was for years before he invested.

[pete]

One thing that reassures me about the discreetness of it all is that him being buddies with BL and following City across Europe is actually true, and that was for years before he invested.

It may be naive but I don't think any other option but to trust Brian Lennox. He has said often enough that he wanted to safeguard the clubs future by not spending recklessly... :o

[micls]

While we'd all obviously like to know more I dont see any scenario other than its a personal investment as BL's friend.

Cos realistically if it were something else, what could they get out of it? We have absolutely no assets!

If we owned the cross then Id be worried

[damien]

well jim little has today stood down as vice chairman of corkcity fc

[pete]

well jim little has today stood down as vice chairman of corkcity fc

Well its fairly clear now that the Arkaga Fund are the "new" investors now.

[razor]

Well its fairly clear now that the Arkaga Fund are the "new" investors now.And that it wasn't a 'personal' investment on behalf of Little as stated at the CCOSC meeting

[pete]

And that it wasn't a 'personal' investment on behalf of Little as stated at the CCOSC meeting

Not necessarily. It may have been a personal investment but he has not "passed" that to Arkaga to manage?

[razor]

It may have been a personal investment but he has not "passed" that to Arkaga to manage?Thats what the recent club statement says.
Can't help wondering is all this kerfuffle for nothing or are peoples concerns genuine about transparency within certain areas of the club.

[alansmithccfc]

Boycott or abuse its up to you,but im not leaving these ***** get away with there lies again

[Risteard]

Boycott or abuse its up to you,
Just those two?
Can i add in wishing the Arkaga Fund the best of luck?
Or will i get the Little Out, no scrap that Arkaga Out banner ready?
They've had a hold for roughly five hours.

Who exactly are you going to abuse? Random targets?

[Citymark]

I work in funds industry, Arkaga Fund are not bad. Good investments, they won't go near anything that doesn't have potential
www.arkagafund.com

BTW is ccfc site down? Can't get onto it or forum

[Risteard]

Official site is anyway.

[Citymark]

Wonder what percentage they have bought and what they would have paid

[pete]

I am sitting on the fence for now.

Fans have been calling for investors for the last 2 years so would seem strange to oppose it now...?

:confused:

[yiddo]

I work in funds industry, Arkaga Fund are not bad. Good investments, they won't go near anything that doesn't have potential
www.arkagafund.com

BTW is ccfc site down? Can't get onto it or forum

The question that people are rightly asking is whether that potential for making money includes making the club successful on the field of play?

Both the official site and the ccfc forum are down are down. Afaik they are both hosted by the same people.

[yiddo]

Wonder what percentage they have bought and what they would have paid


hasn't been made public but Aidan Tynan is the chief executive so you'd have to assume that Arkaga have the majority stake in the club.

[pete]

The question that people are rightly asking is whether that potential for making money includes making the club successful on the field of play?

We have no assets besides current player squad (lets be honest thats no worth much) & potential from sell on clauses of players sold in the last couple of years.

[kevincronin2000]

Little resigns from Cork position

August 16, 2007

Jim Little has tendered his resignation as Vice-Chairman of Cork City Football Club having recently rolled his investment in the club into the Arkaga Fund, the private equity fund for which he worked.

In order to have a full understanding of the operational and development needs of Cork City Football Club, Jim was based in Cork for the earlier part of the year and with the support of the Chairman Brian Lennox oversaw much of the club’s back-office expansion.

Based on a review of the development needs of the club a decision was taken in June to appoint Aidan Tynan to the position of acting General Manager.

“I’ve really enjoyed my involvement with Cork City Football Club and I’ve no doubt that the club will go from strength to strength,” said Little on Thursday.

“I wish Cork City FC every success and look forward to following the club’s progress over the coming years.”

Aidan Tynan added: “I would like to thank Jim for his work on behalf of the club. My key objective now is to build on that work and to develop a Strategic Plan for Cork City Football Club to help it become the preeminent football club in Ireland.”

The Arkaga Fund is a Dublin- and London-based private equity fund that invests principally in the Healthcare, Property, Media and Leisure sectors.

Dermot Killeen, its Deputy Chief Executive Officer, said: “We are excited about our involvement with Cork City FC and look forward to working with Aidan and the club’s executive team to realize the club’s full potential.

“We believe that football in Ireland has a bright future and we have been very encouraged with the initiatives of the FAI to develop the eircom League. We look forward to continuing to work closely with the FAI to broaden the sport’s appeal.”

[razor]

I think we have to assume Arkaga are there to make some money.
Have they already got that with the Roy transfer?
There is no ground or other land to sell, rent out or expand. The only other saleable asset is Gamble.

If this was a short term profit grab then they'll be gone soon...CCFC will be RRS.

If this is an asset strip then once Gamble gets sold they'll be gone...CCFC will be RRS.

What is in it long term for an Investment fund to invest in an eL club?
No eL club has ever proved itself worthy of investment to take it to the next level (UEFA Groups stage qualification).
I don't see why they are there.
Would they be happy to leave CCFC tick over in a break even model selling good young players as and when they come up?
Is that worth the hassle?

[Dodge]

Dublin based company = RRS

[Risteard]

Investors were needed and we got them.
BL was obviously happy with their plan so all people can whinge about really is the yarns that were spun.

[micls]

Today's Echo:

They've been reading the forum anyway. 2 articles about it. 1 mentions a fan's protest tonight.

Dont have a scanner but article 1 is 'Tynan:We're here to stay'
2 is 'Rico praises Arkaga role'.

Both go on to say without Little/Arkaga we'd be part-time and they're in it for the long haul.

Says to reassure fans that they will
1)invest in the team
2)invest in the infrastructure at the club
3)remain in charge at the club for the long haul
4)consult with the steering committee
5)BL will remain as chairman
6)negotiations are ongoing with Rico about a new contract

Tynan: 'There is no reason for City fans to panic. The group are in this for the long haul. My job here is to develop a long term strategy plan for the club that will help take it to the next level. With any strategic plan we are talking 5-10-15 years down the road. We hope to make the same ype of improvements at Cork City similar to those that happened in the Greyhound industry almost 10 years ago.We want that for City and it is our aim to make the name as powerful and successful as the Munster brand name.'

There's more but those are the main parts

[OneRedArmy]

So they are in it to make money.

Nobody has ever done anything other than burn lots of cash in the LOI.

Its a high risk investment by them and I can't see them ponying up much cash as their return is not within their control.

To get their money out they are dependent on domestic football, not just Cork City, taking off like a rocket and increasing crowds exponentially.

Can't fault their enthusiasm and as you lads say, you have no assets to lose, but its quite peculiar behaviour for a private equity fund, as they tend not to invest in long-term deals as longer term = bigger risk and consequently higher return required.

[Risteard]

I'm adapting the time will tell philosophy.
We should be happy to take anyones money.

Its the secrecy of it all which genuinely turns off fans.
I've heard people saying 'They won't go tonight because they won't hand over e15 to an investment firm' which I don't get at all.

If Arkaga came out and said 'Little wanted us involved so we got him to suss it out for us first' it should clear up why Little came and went and some of the hysteria therein. ie He isn't taking a million euros of Sunderland and Reading money in his suitcase to Swindon.

If the million yo-yo was thrown in to 1) and 2) as quoted by micls, then I think Arkaga could be great.
I've always believed that of all the clubs in the Republic, CCFC has the opportunity to become a stable professional FC with a successful brand.

[Risteard]

6)negotiations are ongoing with Rico about a new contract


Personally, I'm surprised at that one.
Thought they might have some English fella or Stellar Group manager lined up.

[pete]

Even allowing for the recent player sales (a lot of the money would not be received upfront) I don't think Arkaga could even break even on their investment to date as I am sure a decent % of the money went on paying debts, wages etc...

While the PR side seems to be royalty fecked up I don't see any other choice but to trust Brian Lennoxs judgment. We have badly needed investment for a while now & seems like we will get it. I think we will have to wait until the end of this calendar year to see how that pans out...

[Risteard]

Agreed.

[alansmithccfc]

Stayed away tonight

[A face]

I actually feel quite positive about it all now to be honest. There was a bit going on that didn't help matters over the last few months and it quite rightly has ticked off a lot of people and thats understandable. But on the other hand some people want to know info that simply could and should not be in the public domain, its never going to happen. This has let rumours fill the void, which is never going to help matters.

The recent days events smooth that way now to progress from what i can see so i'm now happy. We will no doubt hear a lot more over the next few days and weeks but right now it all bodes well imo.

[Risteard]

Stayed away tonight
Alan, are you/ others planning on staying away?

[A face]

Alan, are you/ others planning on staying away?

I want to ask that too? Are you gone now so yeah?

[pete]

A lot of fans have been calling for Brian Lennox to step down & for new investors to come in for probably the last year. It seems this is where we are now at...

The secretive manner of the takeover seems to have p***ed a lot of fans off the new regime.

I am as concerned & suspicious as the next fan but I wasn't calling for a takeover. I was always surprised anyone would invest in the eL as opposed to donate.

I am not sure if a rational debate is possible but I can't figure out if fans want investors or not. :confused:

[A face]

I am not sure if a rational debate is possible but I can't figure out if fans want investors or not. :confused:

That is the 64 million dollar question, do they know what they want?

[alansmithccfc]

Alan, are you/ others planning on staying away?

No I shall be in waterford friday. I was never going to stay away permanently but I just felt it would be best because of the frustration and upset that it caused to stay away for the game last night.


Fair enough peoples opinions differ, you might not agree with fans staying away but I did last night, I was sick of the lie after lie, not so much because the investors are a bit suspicious but because they lied to the fans constantly.
None of us know whats going on in the backround only Tynan Little and Lennox knew what was/is happening so therefore the fans will be split on their own different opinions

[A face]

No I shall be in waterford friday. I was never going to stay away permanently but I just felt it would be best because of the frustration and upset that it caused to stay away for the game last night.


Not much of a protest so was it

[pete]

Investors want to make a profit. Its ironic that the most vocal fans calling for investors seem to be the most vocal against it. Seems Arkaga own the club 100% now? Is this an eL first?

[A face]

Investors want to make a profit. Its ironic that the most vocal fans calling for investors seem to be the most vocal against it. Seems Arkaga own the club 100% now? Is this an eL first?

The vocal fans didn't move the goal posts, they are just on the other side of them now :p:D