Post by Jon on May 28, 2023 8:04:26 GMT
May 28, 2023 7:12:26 GMT Merse said:
Did not Osborne acquire the Club from an inadequate number of, and under capitalised supporters sold a pup by Thea Bristow who bravely stepped up to the plate when the supporters' trust were unable/unwilling to do so?TUST, with the backing and advice of the FSA, was ready and willing to launch a community share issue to properly capitalise the club.
Kelvin Thomas decided instead to accept a bid from Pete Masters.
When that fell through Kelvin Thomas and Dean Edwards stitched up a deal without telling TUST that Masters had withdrawn.
Edwards was desperate for TUST not to be involved. His plans involved giving paid jobs to utterly unqualified people (himself!) whilst axing anyone he had a grudge against with no thought as to how he would pay redundancy money. He did not want these plans to be scrutinised by anyone with any business sense.
There was a meeting with TUST (which Edwards did not attend). His proxy lied that all was in place for £300k of capital investment through a holding company, a board of ten business savvy United fans and a Chairman with Football League experience who would work for nothing.
TUST noted that £300k was unlikely to be enough and offered to go ahead with the community share issue as a joint venture to double or more the war chest.
This was turned down because Edwards wanted to do his own thing with disastrous consequences.
TUST tried very hard to keep the community share option on the table, but the new board committed to Pete Masters’ strategy of attempting to monetarise the freehold through Gordon Oliver.
Strangely, Edwards and Breed had enthusiastic backing from the bigoted misogynist homophobic forum in exchange for regular leaked inside information. Prior to the takeover, both Edwards and Breed were subject to regular abuse by the admin of that forum. Overnight they went from being stupid, incompetent, racist and God knows what to the most brilliant businessmen the world had ever seen.