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Confirmed KLD only owns 41%

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ontap said:
WTF has it got to do with us?
I don't get the outcry about "we should be told who owns what" ?
No we shouldn't its feck all to do with us.
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It was your club ffs. Does it not bother you what these buggers are doing to it? Do you not mind being lied to? You’ve got your opinion and as such I respect your right to express it but I’m buggered if I understand it.
 

Grumpy Old Man said:
They really had no choice. They can now refocus the meeting tomorrow on explaining the implications. They've clearly misunderstood the toxicity around SD and CM, CM in particular, and they need to lance that particular boil sooner rather than later.
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I don't think they have, I think they have understood it perfectly which is why they tried to hide it. I can't think of any other reason.
 
garyswc said:
What's you view on why they have come clean now, KLD advisors telling him to risk greater reputational damage to himself and the family name when the facts finally emerge which they of course would have eventually.?

That wording about Governance Majority told me all I needed to know, I had already been told by a number of reliable sources about the 41%. Been shot down on here along with others on here for raising this, glad to see the truth is out,
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If they come out and say not involved then we kind of know that’s not true when it comes to Methven, it even goes as far as, allegedly interviewing managers in Manchester.

It’ll be interesting to see how economical they are of the truth.
 
UpTheDuff said:
KLD’s letter to supporters contains two key things:

1. Donald and Methven are not on the Board and do not have involvement in decision making.

2. All shareholders are meeting financial obligations and are putting in “shareholder funding” to cover losses from Covid.
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Sartori is on the board

Donalds lawyer is on the board
 
Grumpy Old Man said:
They really had no choice. They can now refocus the meeting tomorrow on explaining the implications. They've clearly misunderstood the toxicity around SD and CM, CM in particular, and they need to lance that particular boil sooner rather than later.
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They have deliberately misled the fans and sold season cards on the back of a takeover which never happened. I think they are in for a shock at folks reaction to this.
 
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It's a bllody fuxking disgrace. Fans being done up the arse by capitalist arseholes again. Would prefer the club to fold than keep supporting while Madrox are still in the picture.
 
Johnsafc said:
If they come out and say not involved then we kind of know that’s not true when it comes to Methven, it even goes as far as, allegedly interviewing managers in Manchester.

It’ll be interesting to see how economical they are of the truth.
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The board are kyrils, that much is almost certain. Equally it's very likely that kyrils 41% includes the majority of the voting shares (that's the only thing that would tie in with the statements about him having the controlling shareholding). Why they've lied about it, what influence Methven is having even without a place on the board, why they're still here and when they're going to leave are very much pertinent questions though.
 
Guinness Guzzler said:
The suggestion that sartori has the only non voting shares makes sense to me mind. If we said a percentage was a share then that means there's 80 voting shares and kld has 41 of them. Its the only way the 41% makes sense that I can see.

I also think you're right about the board, they're kyrils people. I'm almost 100% certain that sartori would side with kld if he had voting shares. So I believe them that kld has control over the footballing direction of the club (Donald knew he was failing at that anyway, probably glad to pass it on).

The way they've hidden things is a disgrace though, the way they've carefully worded things to make it sound like Donald and Methven had some peppercorn shareholding, rather than between them owning 39% of the club.

Big questions need to be asked about why they're still here and when they're going. Is kld not allowed to buy them out until promotion / a certain time has passed? More worryingly does he not want to fund 100% of the club. He needs to start being very, very honest and transparent like he said he would when he bought in, starting by attending tomorrow's meeting. I have reason to believe he's not the issue, the secrecy very likely wasn't his idea. But in that case it only goes to show that its not necessarily the case that what he says goes. Time to front up before there's a real protest
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Good luck trying to bottom out the ownership structure of an overseas holding company, most likely in a jurisdiction with few disclosure requirements. Agree that complete transparency is their only option though. RAWA also needs to emphasise just how unpopular the other Mercator shareholders are, especially CM. There's a definite blind spot there.
 
Safc88 said:
Sartori is on the board

Donalds lawyer is on the board
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Good point.

It sounds to me like Madrox realised they didn’t have enough money so wanted an investor and 41% and executive powers for football decision making was what KLD wanted in return for investing.
 
PennywellMackem said:
Totally agree. I wasn't sure about CM but I'd be flabbergasted if Sartori ever sided with Donald. Like I've said earlier, Donald isn't in the same league as KLD and Sartori so I reckon a little bit of patience will see at least Donald gone.
Given the huge majority at Board level too, I can't see KLD being too worried about ousting Donald and maybe Methven when he sees fit. Possibly promotion, then kiss them goodbye.
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They are mates SD and JS and I said this last week, they brought KLD in as a smokescreen. All part of a plan, imagine if we had of gone up automatically we wouldn’t have a budget for the championship. We’d be hunting down frees using the loan market and taking chances on young players hoping to make a quick buck.
njmackem said:
All fans have discovered today is that KLD is the majority shareholder (which we already knew). The only difference is we now know what the percentages owed by each owner is. KLD still has control of the board and it's votes and so still controls the club.
What I never understand with fans of any privately owned club, is why they feel they are entitled to information about the inner workings of the club. Like your ticket money, shirt money and beer/pie money gives you access to confidential information. Anytime a private club gives information about its inner workings, remember it is a courtesy and stop acting like its an entitlement.

None of you on here, know about the contract that was signed between the owners of the club. There are a lot of you though happy to bitch and moan about it though.

There has always been an easy way to have a say in how your football club is run, pony up the cash to buy it or put together a consortium to do the same.

I am so done with the ownership arguments on here like.
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Does he? Surely if SD, JS and CM all vote against KLD for something surely they’ll have the say? I may be wrong like.
 
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