THE EMBARGO

[Deereyme66]

Any news on new transfers?

[Iron-awe]

None yet but just to reaffirm its ” shit or bust day ” today.

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IRONINTHEBLOOD, North Lincolnshire Irons, waltersleftfoot

[Deereyme66]

Don’t mince your words I-A!

[alcazar]

Swann’s the former, the club will be the latter.

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North Lincolnshire Irons

[cassidystash]

As I understand it the EFL embargo limits squad size (anybody know what it is?) It’s likely that we are being held up by lack of movement out and, with the players we’d like to shift, that could be more difficult than attracting players in.

[Mcfarlanewasalegend]

Think its max of 23 players in the squad

[cassidystash]

Thanks. Just had a look and, depending on which youngsters count and which don’t I reckon we have 23. Can’t see how we can shift 4 to bring in the 4 that Hill wants. Loanees could be one route, surely the chairman can persuade his mate Rodders to take Wood back.

[HeckIron]

Correct me if I am wrong here (I am not an expert), but as the company (SUFC) is a PLC, the company owns the assets. If Mr. Swann is the only (or major) shareholder, he would own the business BUT NOT the assets as he and the PLC are separate legal entities. That’s what a SOLE or GROUP OF SHAREHOLDERS is. He/they own’s the company. THE COMPANY OWN’S THE ASSETS.

I have no knowledge or real understanding of how the transfer of assets actually happened, but let’s take an example and assume that, as the owner of SUFC PLC, Mr. Swann has overseen the transfer of SUFC PLC assets to Coolsilk in order to pay off incurred “debts”. If Coolsilk is also a PLC (and I haven’t bothered to check) of which Mr. Swann is the sole or major shareholder, that company now own’s the stadium and land – NOT MR. SWANN, they are separate legal entities.

Therefore, Mr. Swann would NEVER have legally owned the stadium and land!

[HeckIron]

Anonymous wrote:

Swann has ALWAYS owned the stadium and land. That’s what an OWNER is.

Correct me if I am wrong here (I am not an expert), but as the company (SUFC) is a PLC, the company owns the assets. If Mr. Swann is the only (or major) shareholder, he would own the business BUT NOT the assets as he and the PLC are separate legal entities. That’s what a SOLE or GROUP OF SHAREHOLDERS is. He/they own’s the company. THE COMPANY OWN’S THE ASSETS.

I have no knowledge or real understanding of how the transfer of assets actually happened, but let’s take an example and assume that, as the owner of SUFC PLC, Mr. Swann has overseen the transfer of SUFC PLC assets to Coolsilk in order to pay off incurred “debts”. If Coolsilk is also a PLC (and I haven’t bothered to check) of which Mr. Swann is the sole or major shareholder, that company now own’s the stadium and land – NOT MR. SWANN, they are separate legal entities.

Therefore, Mr. Swann would NEVER have legally owned the stadium and land!

[Anonymous]

Whose company is Coolsilk?

[HeckIron]

Anonymous wrote:

Whose company is Coolsilk?

Have a look on Companies House. It should be on there as matter of public knowledge.

[Anonymous]

Ah yes Mr & Mrs Swann. Therefore they own Coolsilk, who own SUFC. It’s been that way since 2013.

Some are just making a big deal of it now because we’re doing poor in the league.

[HeckIron]

Anonymous wrote:

Ah yes Mr & Mrs Swann. Therefore they own Coolsilk, who own SUFC. It’s been that way since 2013.

Some are just making a big deal of it now because we’re doing poor in the league.

That’s as may be – but they never did and still don’t OWN the stadium or land. They were on the legal entity that is SUFC PLCs asset list. Now I would guess they are on the legal entity that is Coolsik’s asset list.

[Anonymous]

So people are getting upset over pieces of paper that Swann has ultimate control over?

[HeckIron]

Anonymous wrote:

So people are getting upset over pieces of paper that Swann has ultimate control over?

Again – that may be the case. But the you have been stating as a matter of fact the Mr.Swann already owned the stadium and land. The actual fact is he didn’t – SUFC PLC did. That is the ONLY point I am trying to make here. Everyone else can have their opinions – to which they are entitled – but I am just trying to provide the correct fact around ownership of a PLCs assets. They are WHOLLY OWNED by the PLC, not the shareholders.

[North Lincolnshire Irons]

No! People are upset because of what SWANN has done to Scunthorpe United Football Club, members of the Football League for over 70 years. Then new boy SWANN comes in and look where we are now, barring a miracle ready to drop out of the football league. Its not about pieces of paper, but supporters are entitled to know exactly what SWANN has done and is doing with our Club, after all he is always harping on about fans money through the turnstiles.

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alcazar, IRONINTHEBLOOD

[Anonymous]

Ok you are being pedantic. The Swanns have had CONTROL of everything since 2013 regardless of what a piece of paper says.

[HeckIron]

Anonymous wrote:

Ok you are being pedantic. The Swanns have had CONTROL of everything since 2013 regardless of what a piece of paper says.

You are correct – I am being pedantic, but this is because I would prefer people to be basing opinions on fact. If I am the sole shareholder of a PLC (even if I set up the PLC in the first place) and in order to do my work, I use PLC funds to buy me a laptop for example, that laptop belongs to the PLC and not me. Should I then want to sell all of my shares in the PLC, the laptop will be used as an asset when assessing the value of those shares. The new “owner” will own the PLC – the assets continue to be owned by the PLC. If my company goes in to liquidation, those assets will be considered when it comes to selling assets off to pay debt. If those assets have already been transferred, my company is much less valuable to either a prospective purchaser or a liquidator. Those are facts.

[BigLeftToe]

Deereyme66 wrote:

Any news on new transfers?

Blackpool Gazette are reporting that Nuttall is still due to sign for us by the end of the day.

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Iron-awe, Deereyme66

[Deereyme66]

Fingers crossed then. No news on a CB though?

[North Lincolnshire Irons]

Just heard Matt Dean on Radio. He said we’re hoping to sign Nuttall but can’t sign anyone until someone leaves. This is where SWANN has taken us. Depths of despair. I bet Keith Hill is tearing his hair out.

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alcazar

[Anonymous]

NLI can you update us on Swanns and SUFC financial situation, you seem clued up on how much money each has had available over the last couple of years? Much appreciated.

[Iron-awe]

If Swann and his son left could we sign two more players 🤔

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alcazar, North Lincolnshire Irons

[Northumbiron]

It would certainly seem like the recruitment “committee” are surplus to requirements!

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alcazar, North Lincolnshire Irons

[BarnardFoxtonBarker..]

If this is true why have we brought in players in midfield/fullback positions when Forwards/central defenders are what we need the most. Something doesn’t add up.

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BigLeftToe, alcazar, North Lincolnshire Irons

[North Lincolnshire Irons]

You’re absolutely right BarnardFoxtonBarker. If it’s right what Matt Dean has said why have we signed three midfielders and no striker apart from Burns on loan. And we desperately need a centre-back. Just doesn’t make sense. Let’s hope other clubs want two of our players.

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BarnardFoxtonBarker..

[cassidystash]

Looks like paying off the EFL loan will be “necessary” in order to remove the squad size limit and get Hill the players he wants.

[TwoWrights]

Rumour I heard is that in the summer this EFL loan becomes a grant, and then doesn’t need to be repaid.

[Deereyme66]

Though from what I can tell, we really did need the lightweight midfield boosting up.

[alcazar]

Why would anyone want the players we need shut of? Are Billy Smarts or Chipperfields in town and in need of clowns?

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BarnardFoxtonBarker..

[Author]

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