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A Spivs Tale

Not sure if anyone has seen this court transcript. A friend of mine who is a Brentford fan sent me this. It gives a great insight into what went on last time we were involved in a take over. Let’s hope whoever takes over this time has the interests of CAFC at heart and not the chance to turn a quick buck in a property deal.

The email exchanges between Cash, Slater and Jimenez are fascinating as is Roland’s refusal to play ball with Jimenez over the Peninsular development.

Comments

  • edited January 6
    AAARRRGHHHH
  • Noooooooo
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  • edited January 6
    Thanks for posting that. I don't think it is getting the attention it deserves, although it takes some getting through - towards the end a lot can be skipped. My main takeouts are:

    1. The Spivs always had their eyes on the Peninsula deal. Cash in particular is said not to have had any interest in the club.

    2. The ownership structure was far more opaque than we ever realised. I am still not sure I understand it but there were a lot of minority shareholders via Trusts, and it seems Slater was a shareholder, when many portrayed him as a kind of gofer.

    3. Greenwich Council were actively interested in moving us to the Peninsula.

    4. Roland was never interested in doing that.

    5. The deal was done incredibly quickly.

    6. Slater deserves some credit for insisting that the deal with RD was done, even though it meant that the Peninsula fell through (they all wanted to somehow sell to a buyer who would go for the Peninsual and somehow allow the Spivs to remain with "skins in the game" re the development. Slater rightly insisted that RD would walk if they tried to push him into making the Peninsula move part of the deal. Administration would then have resulted. This fits with what I know about the late entry of a consortium including Arenacom, which was all about moving to the Pen. Slater knew there just wasn't enough time to entertain a rival bid when RD was prepared to do a deal so quickly.

    7. RD did the deal ridiculously quickly. It seems impossible to believe that there was any significant DD. But in moving so quickly he saved the club from admin. It seems he made an advance deposit, which was instantly used up.

    8. It is stated that the trading losses in 2012-13 were running at £5.5m p.a. Now that' s interesting because if I recall the figures being bandied around, our losses have been higher since RD took over.

    9. There is a reference to money that would be owed to Richard Murray but this is given as £600k, a relatively small amount. It also says that RM was a 10% shareholder in Baton "subject to 'drag-along' obligations" but the footnote indicated which explains what this means is not available as far as I can see. Anyone else got any comments after reading? @Airman Brown you have read this earlier I think, doubtless you might have some comments on some of what I have inferred?
  • Why would RD have objected to the Peninsular ? Surely that would have been right up his modus-operandi.?
  • Why would RD have objected to the Peninsular ? Surely that would have been right up his modus-operandi.?

    He just wasn't bothered about it. I've heard that from the other lot (Arenacom). It says that he had a passing interest in it but was more interested in the possibility of development of the Valley.

    I don't at all suggest that RD had this noble feeling that The Valley Is Our Home, just that he has his focus, and that is seeing how you can develop the stadium you've acquired. That's what he has to some extent done or is doing at every club except Standard.

  • It’s strange to think that Roland’s intervention ended up keeping us at the Valley. He has had such a cancerous effect on CAFC it’s hard to give him credit for anything. Knowing him as we do it had nothing to do with the best interests of CAFC but more to following the St Truiden blueprint of stadium development. I agree Prague that the way Greenwich seemed to be actively trying to get us to the Peninsular was outrageous.
  • edited January 6
    @PragueAddick, I'm a bit confused about PV's connection with any of the 'move to the peninsular' plans can you enlighten me on this ...at all.
  • Shrew said:

    @PragueAddick, I'm a bit confused about PV's connection with any of the 'move to the peninsular' plans can you enlighten me on this ...at all.

    PV? He doesnt feature in this case.

  • Why would RD have objected to the Peninsular ? Surely that would have been right up his modus-operandi.?

    He just wasn't bothered about it. I've heard that from the other lot (Arenacom). It says that he had a passing interest in it but was more interested in the possibility of development of the Valley.

    I don't at all suggest that RD had this noble feeling that The Valley Is Our Home, just that he has his focus, and that is seeing how you can develop the stadium you've acquired. That's what he has to some extent done or is doing at every club except Standard.


    He'd engaged the architects responsible for the sterile monstrosity that is Stayen, and was some way to developing extensive plans for Schlissen, before fan intimidation and around the clock police protection persuaded him to unload Standard.
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