This Chris Swan fella...

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This Chris Swan fella...

Post  fingers on Fri Jan 07, 2011 2:12 am

The guy talked about previously who has an interest in buying a local football club.

We know he went in for Harriers, some interesting thoughts here...

http://www.harriers-online.co.uk/forum/viewtopic.php?t=5819

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Re: This Chris Swan fella...

Post  fingers on Fri Jan 07, 2011 2:36 am

And an interesting account as to why the deal for Harriers fell through, albeit purely from their perspective.

Dear Kidderminster Harriers supporter

You will be aware of the serious financial difficulties facing our Football Club and of the substantial efforts that have been made to secure new monies to enable the Club to compete this season without being weighed down by further debt.
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On the evening of 15 December 2010, a meeting was held at the Club at which Mr. Chris Swan gave a presentation to the current Board of Directors, previous Directors of both Aggborough Holdings Ltd and Kidderminster Harriers Football Club, Mrs. Jane Murrant, Representatives of Harriers Premier Group, Representatives of the Kidderminster Harriers Independent Supporters Trust (KHIST), and other persons who have supported the Club for many years and/or have significant shareholdings in the Club.

The objective of this meeting was to hear from Mr. Swan a proposal whereby he would take full control of the Club, inject new monies into the Club and, ultimately, achieve promotion for the Club into League 2. Mr. Swan was of the opinion that it would take him approximately five days to undertake the process of 'due diligence', after which and providing matters were satisfactory, he would take full control of the Club and bring in his team to get the interest within the town fully behind the Club.

His conditions for taking over the Club were twofold;

1. He wanted 100% of the Shares in Kidderminster Harriers Football Club, for which he would pay £1.

2. He would not pay back any Directors' loans that had been made to the Club.

It was explained to Mr. Swan that it would be unlikely that 100% of the Shares in Kidderminster Harriers Football Club would be delivered to him and there were instances where only one share was held by an individual.

Furthermore it was believed that some of those who held only a few shares may have died, and the whereabouts of their Shares could be unknown.

It was further explained to Mr. Swan that, according to the constitution of the Football Club, outright control of the Club lay with any one person or groups of persons holding 75% or more of the Football Club Shares.

Mr. Swan was advised that currently Aggborough Holdings held approximately 60% of the Shares in Kidderminster Harriers Football Club and Mrs. Jane Murrant held approximately 26% of the Shares in Kidderminster Harriers Football Club.

The remaining 14% of the Shares in Kidderminster Harriers Football Club are held by a significant number of individuals or groups, such as the Harriers Premier Group and KHIST.

Mr. Swan was advised, therefore, that for him to take sole control of the Club, he would have to acquire the two major holdings of Kidderminster Harriers Football Club Shares, being those held by Aggborough Holdings and Mrs. Jane Murrant. There was no other permutation of holdings that could deliver to Mr. Swan the total control he wished for.

The current Shareholders in Aggborough Holdings, as I understand matters are: Barry Norgrove (1Share), David Reynolds (2 Shares), Wayne Allen (1 Share), and the Estate of Gordon Howard (1 Share). Neil Savery confirmed that he had passed his 1 Share in Aggborough Holdings to David Reynolds at the Board meeting of 28 October 2010.

Subsequent to 28 October 2010, I understand that Mark Serrell has become a Director of Aggborough Holdings.

Following a discussion, a majority of the Aggborough Holdings Shareholders together with Mrs. Jane Murrant stated that they would be prepared to pass to Mr. Swan the Shares that they jointly held, amounting to 86% of the Shares in Kidderminster Harriers Football Club. However it was also agreed by a majority of the Shareholders of Aggborough Holdings and Mrs. Jane Murrant that Mr. Swan should be asked to repay two loans that had been made to the Football Club since 28 October 2010 and these were as follows;

David Reynolds £75,000
Mark Serrell £50,000

Both David Reynolds and Mark Serrell advised at the meeting that if Mr. Swann repaid these two loans to the Club, they would each pass to KHIST a sum of £25,000 upon receipt of payment for KHIST to use for the benefit of the Club as KHIST saw fit.

I was asked to telephone Mr. Swan on the morning of 16 December 2010 (Thursday), which I did shortly after 10:00am, to Mr. Swann's mobile telephone. I outlined the offer which, for clarity, I set out again the key points:

1. Aggborough Holdings will pass to Mr. Swan their Shareholding in Kidderminster Harriers Football Club, amounting to approximately 60% of the Shares in the Club.

2. Mrs. Jane Murrant will pass to Mr. Swan her Shareholding in Kidderinster Harriers Football Club, amounting to approximately 26% of the Shares in the Club.

3. Mr. Swan will therefore have total control of the Club by virtue of having 86% of Share in the Club, whose constitution states that the possession of 75% of the Shares equates to total control.

4. Mr. Swan would pay £1 for the Shares referred to above in the Club.

5. Mr. Swan would be required to pay to David Reynolds the sum of £75,000, being the sum loaned to the Club by David Reynolds since 28 October 2010.

6. Upon receipt of Mr. Swan's payment to David Reynolds of £75,000, David Reynolds will immediately pass to KHIST a sum of £25,000 for KHIST to use as they see fit for the benefit of the Club.

7. Mr. Swan would be required to pay to Mark Serrell the sum of £50,000, being the sum loaned to the Club by Mark Serrell since 28 October 2010.

8. Upon receipt of Mr. Swan's payment to Mark Serrell of £50,000, Mark Serrell will immediately pass to KHIST a sum of £25,000 for KHIST to use as they see fit for the benefit of the Club.

I advised Mr. Swan that the club would require his decision regarding this proposal by no later than mid-day on 17 December (Friday), but that in the meantime, should he wish to commence his 'due diligence' process, then that would be in order.

At the end of this phone call, Mr. Swan asked me to go through the proposal again but before I could do so, the connection to his phone was lost. I telephoned his mobile number again but could not re-establish the line and therefore left him a message to return my call to my landline, which he did approximately 45 minutes later, from his own landline.

I took him through the 8 (eight) points noted above for a second time and, upon conclusion, Mr. Swan advised that he was not prepared to repay any loans whatsoever and therefore he would not be proceeding further.

Keith Chandler
Director
Kidderminster Harriers Football Club Limited
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Re: This Chris Swan fella...

Post  Guest on Fri Jan 07, 2011 2:49 am

interesting, maybe time to pay back the loans would have been better than pay them now? I suppose in the short term that money would be better spent trying to keep the club going.
Has contact been made with Mr Swan regarding Redditch? or with this info on the Kiddi deal in mind is it still worth looking into? Rolling Eyes

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Re: This Chris Swan fella...

Post  porrohman on Fri Jan 07, 2011 11:43 am

The club and Chris Swan had talks in the summer.Don't know the ins and outs.
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Re: This Chris Swan fella...

Post  Redditchbluenose86 on Wed Jan 12, 2011 12:17 pm

Just out of curiosity, I typed into google 'I wish to buy a football club', to see if there were any forum threads that came up with multi-millionaires looking for clubs to buy Laughing

Sure enough this one came up Click Here

Although it's a few years old, the very last page runs into November 2009. If you read through his checklists, we seem to fit most of them.
I wonder if he managed to find a club in the end scratch

Worth a PM? Laughing

There could be a few more out there, who knows?

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Re: This Chris Swan fella...

Post  porrohman on Wed Jan 12, 2011 2:03 pm

Unfortunately it's not our club to sell. Can anyone shine any light on what is being done to look for 'potential buyers' or 'board members' because form where I'm standing I can't see it being done as the club has slipped into it's usual non communicative state once again.
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Re: This Chris Swan fella...

Post  rawlings09 on Wed Jan 12, 2011 2:27 pm

PM the guy Andy!

On this Chris Swann issue, forget it!

Earlier this week, monday to be precise, before the TRUST meeting, my dad (in2thevalley) e-mailed him, saying there is potential at a club like us etc, and we both thought it was an incredibly long shot that he'd e-mail back, However, when we got back, he had recieved and e-mail from Swann, and he said about 6 months ago, he and Ken Rae spoke, and ken wasn't interested. Shocked Head against wall

I felt sorry for ken when we had the "potential money making ideas meeting" which in all honesty, was sh*t.

But after reading Swanns reply, i have lost alot of sympathy!! violin
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Re: This Chris Swan fella...

Post  Guest on Thu Jan 13, 2011 2:54 am

rawlings09 wrote:PM the guy Andy!

On this Chris Swann issue, forget it!

, he had recieved and e-mail from Swann, and he said about 6 months ago, he and Ken Rae spoke, and ken wasn't interested.

Yes but do we know what the deal on the table was? is it coincidence that two clubs have turned Him down?
We need money yes but not to be sold down the River so to speak, The question I suppose is Was Ken's demands too high or was it Mr Swann's ?
I am surprised this wasn't mentioned at the crisis meeting as to avoid any conspiracy or doubt, I would prefer to hear the facts and then decide whether an opportunity has been missed. I don't think we should just jump on ken's case until we know what the details were, it could just be not much of nothing.

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Re: This Chris Swan fella...

Post  in2thevalley on Thu Jan 13, 2011 8:16 am

I recieved an email from Mr Swann on monday and as Rawlings09 says certain parties were not interested. I have emailed Steve YE HA Workman the email and he is going to do some "digging" because I feel something doesn't seem right. Head against wall
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Re: This Chris Swan fella...

Post  Guest on Thu Jan 13, 2011 9:04 am

Yeah, there must be something.
If we are trying to find said buyer or backer then we need to know what parameters we are dealing with, if the problem is our end we need to work around it.
Pointless just randomly asking if the deal to be had is unrealistic.

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Re: This Chris Swan fella...

Post  rawlings09 on Thu Jan 13, 2011 9:30 am

Surely any help at this level would be welcommed?

When Ken said he's running this club on his own, i felt genuine sympathy.. but now i dont! :dance:
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Re: This Chris Swan fella...

Post  fingers on Thu Jan 13, 2011 9:48 am

Well let's be fair here, I'm not saying what Mr Swan has said is wrong but surely it's best to ask Ken on Saturday? Drop him an email or call?

My (very limited) understanding is that Mr Swan's offer was not accepted on the basis of other circumstances beyond the current boards control. Mr Swan was unwilling to change this offer (and more than one person has said they don't blame him for not wanting to, given the circumstances involved) which ended any potential deal; the club itself didn't turn the offer down as I understand it, though I may be misinformed and/or completely wrong.

My advice to any supporters would be to ask Ken directly.
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Re: This Chris Swan fella...

Post  Guest on Thu Jan 13, 2011 10:22 am

fingers wrote: (and more than one person has said they don't blame him for not wanting to, given the circumstances involved) which ended any potential deal; the club itself didn't turn the offer down as I understand it, though I may be misinformed and/or completely wrong.
are we back in the realms of gossip or is there some sort of inner circle that are privy to certain info? If its the first one then people should realise the damage gossip can cause and if its the latter then I am not going to waste time helping a cause that does not want the help on a level playing field.

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Re: This Chris Swan fella...

Post  nevergreen on Thu Jan 13, 2011 12:22 pm

throw trust as I him wouldn't far I as could him.....................re-arrange as necessary. and it rhymes with Ben
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Re: This Chris Swan fella...

Post  fingers on Thu Jan 13, 2011 12:47 pm

Jeff, I don't know the truth mate- I just put it on here as if what I've posted is true then it's not a case of Ken turning down help from a backer as it could have appeared if I'd said nowt.
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Re: This Chris Swan fella...

Post  Leethall on Thu Jan 13, 2011 2:15 pm

Well if Ken has turned it down then it is his prerogative.

What is the score as to who owns the club? Is it Ken 100%?

What I would like to know has any progress been made in raising money through commercial opportunities? Eg Brian joining?

Money making was a big issue and the Brick Wall launched by Ken. What I cannot see if anything that The Club have put in place? It is exactly like Head against wall against a brick wall TBH
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Re: This Chris Swan fella...

Post  rawlings09 on Thu Jan 13, 2011 3:36 pm

Concidering we had a meeting to " come up with ideas for money" if Ken did turn this down, then he's made a rod for his own back! Head against wall
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Re: This Chris Swan fella...

Post  TRae on Thu Jan 13, 2011 4:16 pm

Hi all - Chris Swann did have talks with Ken back in the summer. Chris wasn't interested in investing as a director, he wanted to own the club outright (Ken had no objection to this and in fact welcomed the opportunity) - for this to happen Chris needed to acquire shares from previous directors. These directors were prepared to sign over their shares to Chris in return for full settlement of New Valley Social Club's brewery loan, of which these previous directors are personally guaranteed. The previous directors were not prepared to sell their shares if the brewery loan deal was not completed in full by Chris. As it currently stands Ken is in control of paying the brewery loan on a monthly basis as per the contract. Ken obtained a settlement figure from the brewery, which he cascaded to Chris. Chris didn't return Ken's calls or voice mails. Ken tried on several occasions to contact Chris to ascertain whether he was prepared to settle. As no calls were returned Ken took this to mean Chris was no longer interested.

Ken is still looking and is keen to encourage any potential investors in RUFC. We as a couple still financially prop up RUFC as best we can. Why would we not want Chris or anyone to take the club over?? Ken would be happy to step down as chairman if so required, if it meant securing RUFC's future. He would of course love to still be involved in some capacity if this was ever to be the case.

Ken is always happy to speak to people if there is something you wish to know - everyone has Ken's number (if you don't there are plenty of people you can ask!!)

Hope this helps to clear up the issue regarding Chris Swann
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Re: This Chris Swan fella...

Post  Leethall on Fri Jan 14, 2011 2:56 am

Tracy, thanks for the update. Much appreciated. Sounds like this Chris Swan feather is sort of a nightmare in going to clubs and giving hope but then disappearing into the sunset without having the decency to get back to the club... violin
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Re: This Chris Swan fella...

Post  rawlings09 on Fri Jan 14, 2011 3:34 am

Cheers Tracy!

From the e-mail chris sent us, it seemed as if Ken wasn't interested at all!

Thanks for the Clarification! :dance:
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Re: This Chris Swan fella...

Post  Guest on Fri Jan 14, 2011 3:44 am

Thank you Tracy, As I said before is it coincidence that two clubs have had no joy with Chris Swan.
It would seem that the guy has no respect for those in the past who have put them selves financially on the line for the greater good of either club, his loss?
Personally I have nothing but admiration for you both and the loyalty and sacrifice you have made for this club, Im also aware it can be a very thankless job so I thank you and the rest of the United Staff for this.

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Re: This Chris Swan fella...

Post  TRae on Fri Jan 14, 2011 5:18 am

Thanks guys - it is good to know we are appreciated. Ken is at the game tomorrow and as you all know he is always happy to talk to anyone who has a concern, query, question or ideas.


See you all tomorrow - Up The Reds
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Re: This Chris Swan fella...

Post  in2thevalley on Fri Jan 14, 2011 5:32 am

mnay thanks to you tracy for clarifying the situation .
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Re: This Chris Swan fella...

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