{"id":83836,"date":"2023-07-14T06:30:38","date_gmt":"2023-07-14T05:30:38","guid":{"rendered":"https:\/\/jackarmy.net\/wp67\/?p=83836"},"modified":"2023-07-13T21:33:43","modified_gmt":"2023-07-13T20:33:43","slug":"another-director-but-without-obvious-investment","status":"publish","type":"post","link":"https:\/\/jackarmy.net\/wp67\/2023\/07\/14\/another-director-but-without-obvious-investment\/","title":{"rendered":"Another Director but without obvious investment"},"content":{"rendered":"

Brett Cravatt was confirmed as a new director of Swansea City yesterday but with no obvious investment into the club itself we can only assume that the investment is into the LLC.<\/p>\n

It was only Monday this week that we talked about investment into the club<\/a><\/strong> and the need for answers but the arrival of Cravatt – long since reported on – has just added to the questions and maybe not least because of some of the words he used himself to hail his arrival as a director.<\/p>\n

“Thank you to all of the supporters and the people at the club for providing me with this incredible opportunity,” said the latest addition to the Swansea City board.\u00a0 “I would also like to thank Andy Coleman, Jason Levien, Jake Silverstein and Steve Kaplan for working with me through this process.”<\/p>\n

\"\"In itself none of those words should ring many alarm bells but there was no mention at all of the summer’s other new investor in Nigel Morris.\u00a0 \u00a0The difference between Morris and Coleman and Cravatt it seems is that Morris has made his own investment into the club in return for his own shareholding.\u00a0 \u00a0The other two appear – at least for now – to have invested into the holding company of the club which will have the only impact to reduce the shareholding of each of the component parts of the investment.\u00a0 \u00a0The difference, as far as the impact on the club, is quite big.<\/p>\n

It may well be that at some stage post the window that the filings on companies house change but the lack of transparency and the ease at which the Trust accept the position is quite alarming.\u00a0 \u00a0It seems that its a case of hide behind confidentiality statements until such time that the owners tell them what to say.\u00a0 \u00a0That may feel harsh but to the average fan that is exactly how it feels.<\/p>\n

Their email to members last night confirmed the status as they see it “In addition, The Trust understands that the new investment funds are being made available to the club to meet its needs over the coming season.\u00a0 \u00a0Whilst the exact structure of this investment is undisclosed at present, we are told that once the transfer window closes, the club intends to release communications in which it more fully explains the current ownership structure.”<\/p>\n

It was believed that the investment of Morris (he purchased just under 20% of the club) would at least be matched, if not exceeded, by Cravatt<\/a><\/strong> and whilst that could very much still be the case it is the smoke and mirrors nature of the investment that keeps the questions coming and ignites the inquisitive nature of the club ownership that has always existed and led to the formation of the Supporters Trust in the first place.<\/p>\n

If the Trust email is correct and a clearer picture of the ownership position is to be seen post the window then we await that moment but the reality is there should be no difference between doing it now and then no matter how much it is being suggested that it is to protect our bargaining power in the window itself.<\/p>\n

The make up of the LLC has never been clarified and, seemingly, never will.\u00a0 The fact that we still ask questions seven years later and never get answers tells you all that we need to know.\u00a0 \u00a0We can only hope that the investment of Cravatt is done for the long term benefit of the football club and not the immediate benefit of those who control the LLC.<\/p>\n

Time will, as ever, tell.<\/p>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Brett Cravatt was confirmed as a new director of Swansea City yesterday but with no obvious investment into the club itself we can only assume that the investment is into the LLC. It was only Monday this week that we talked about investment into the club and the need for answers but the arrival of […]<\/p>\n","protected":false},"author":452,"featured_media":83835,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"cybocfi_hide_featured_image":"","footnotes":""},"categories":[293,49,203],"tags":[1539,1509],"class_list":["post-83836","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-first-team","category-news","category-opinion","tag-brett-cravatt","tag-the-2023-2024-season"],"_links":{"self":[{"href":"https:\/\/jackarmy.net\/wp67\/wp-json\/wp\/v2\/posts\/83836","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jackarmy.net\/wp67\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jackarmy.net\/wp67\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jackarmy.net\/wp67\/wp-json\/wp\/v2\/users\/452"}],"replies":[{"embeddable":true,"href":"https:\/\/jackarmy.net\/wp67\/wp-json\/wp\/v2\/comments?post=83836"}],"version-history":[{"count":0,"href":"https:\/\/jackarmy.net\/wp67\/wp-json\/wp\/v2\/posts\/83836\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jackarmy.net\/wp67\/wp-json\/wp\/v2\/media\/83835"}],"wp:attachment":[{"href":"https:\/\/jackarmy.net\/wp67\/wp-json\/wp\/v2\/media?parent=83836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jackarmy.net\/wp67\/wp-json\/wp\/v2\/categories?post=83836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jackarmy.net\/wp67\/wp-json\/wp\/v2\/tags?post=83836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}