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New Trust statement on club finances

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« Reply #520 on: July 23, 2021, 09:37:14 am »

Hi Woody & Parrot,

No they said it was a partnership and they sold some shares (60%) in one of the controlling companies of NTFC. They actually then sold / transferred the other 40%, meaning the Chinese owned and controlled our football club. No announcement was made, I don't know why, I expect there was some crossover of contracts and the Chinese government stopping overseas investment. As there was another £1.2m payment to go to the football from the Chinese as part of the deal, the oblingations were not met. DB was a very clever lawyer so I expect that the contracts read that if the money was not paid they would be in breach of contract and DB could re-acquire the shares. I know it sounds incredible that they would have returned the money but thats not how business contracts work, especially bearing in mind, in one corner a experienced, shrewd lawyer, one corner a very small business (and people) with a tiny business having accesses to £6.8m to throw around and then in the other corner - off shore accounts and businesses and finally in the other corner, possible money laundering and illegal activities.

We have total evidence of the £6.8m payments and the re-acquirement of the shares, we dont know how a small company would be willing and able to pay £6.8m for a club that the owners brought for £1 2 years earlier, we don't know why KT / DB have spoke about all the details of the transactions etc, we don't know why the Chinese hasn't broken KT legs  Grin (they did make a challenge, so would suggest they not happy)  Again it is the whole point, after DC, fans still seem to not worry about iffy dealing by our owners, why the football rots arounds them as the owners work on asset striping the football, all in the name of development
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