Marchamjack said:
We’re definitely agreed the owners have done an absolutely piss poor job.
As for not ever needing or desiring investment...I don’t see how the club can progress (rather than just stand still/ go backwards over time) without investment, of the right kind of course, and which protects the Trust’s position within it. That’s the ideal to me. Will we ever get it? No idea, but I can’t help wanting it all the same.
The ship to protect the Trust's position sailed sadly for me the moment that those "lifetime supporters" colluded against them to ensure it couldn't happen.
Had there been involvement in the sale the Trust could/would have a kitty of £15m+, possibly a small shareholding, a board representation and even investment without concern as largely there would be the kitty to "match" investment to retain say a 5% shareholding (every £1m of Trust investment would be £20m from the owners to maintain the status quo) or the Trust shareholding would be small/minimal and the £15m kitty would be earmarked for a future disaster.
But - as we know - what happened was everyone else colluded against the fans to ensure that wasn't possible and 4/5 years have now been wasted trying to right that wrong with a group of owners who know it was wrong but have no obligation to put it right. Of course there are those that spout the narrative that it was all the Trust's fault and cosyness/sleeping at the wheel was to blame but there is a group of guilty parties who decided thy would go behind the back of the fans and against the best for the football club (with all the above there is nothing to say that the Trust wouldn't have backed the deal and the fans could have been onside quite quickly)
Us losing the game last weekend took away the final chance (possibly) of the Americans righting that wrong. Promotion could have led to a share sale at a fair price. I firmly believe SIlverstein is someone who will end up with a bigger shareholding of the club (there is no other reason for him to have taken such a prominent position last year and take up the main thrust of the Trust discussions) and had we been promoted it would have been easy for him to look to say buy 50% of the Trust shares and increase his shareholding as well as effectively the American influence at the same time. Even when there was no requirement to do so (without the input of the courts)
The two main narratives enforced by the apologists from those who hear what they want to hear
As Dr W says, the club is, by some level of luck, now run within its means and has survived this period far better than I thought they would. The £10m loan remains an issue that worries me as I think it will dilute the Trust but this could have been oh so different if it weren't for the actions of a few and these discussions would be a lot different.