Was Rupert Lowe set up by the remaining Shareholders?

[SaintRobbie]

Wilde got Ken Dulieu's company to do this - it was the whole point of him being Chairman - that's what his company do - forensic accounting, investigate fraud etc

 

thing is they found nothing

 

Lowe and Co took a lot of money out of SFC but it was all legal - high salaries for directors (exec and no-exec), large dividends for shareholders, lots of expenses and bonus payments for directors based upon financial performance, lucrative contracts for other companies owned by them (rebuilding the training ground anyone)

 

you could argue that Hone, Hoos and Oldknow managed the club negligently - and against the shareholders wishes - but Wilde let them do this

 

spending £7 million we didn't have, not sacking Burley, overpaying for and then overpaying palyers, not too mention their own over inflated salaries - but mainly running the club in the hope it would be bought rather than running it within its means

 

 

Criminal neglegence in my eyes, the rape of a football club and theft of pride from the fans.

 

I suspect you are right - would be nice to see exactly how much was taken into shareholders dividends, expenses and salaries though wouldnt it?

 

Thanks for this.

[John Smith]

Many months ago, some posters were advocating a Real Madrid approach. Many poo pooed it, and rightly so, it was not viable for the fans to be able to buy the club and then fund the purchase of players etc, and so, it was a no starter.

 

How about, when Lowe is forced out, we force the redundancy of all shares, the club is returned and de-listed and 'gifted' to the fans. Then, each year, the likes of Crouch, Fulthrope, Lawrie Mac, whoever, put themselves forward as chairman and the ST holders vote for their favourite.

 

Let's face it, the Chairmans hands are tied by the banks, but maybe it would spur the supporters on a bit and make us feel more tied to the club. Presently, the bank run the show and a goon heads up the board. Surely, we can do better than that!

 

If there was any decency left in the world, the current shareholders would wave them goodbye and allow the fans to rescue the club before they bury it!

[buctootim]

Many months ago, some posters were advocating a Real Madrid approach. Many poo pooed it, and rightly so, it was not viable for the fans to be able to buy the club and then fund the purchase of players etc, and so, it was a no starter.

 

How about, when Lowe is forced out, we force the redundancy of all shares, the club is returned and de-listed and 'gifted' to the fans. Then, each year, the likes of Crouch, Fulthrope, Lawrie Mac, whoever, put themselves forward as chairman and the ST holders vote for their favourite.

 

Let's face it, the Chairmans hands are tied by the banks, but maybe it would spur the supporters on a bit and make us feel more tied to the club. Presently, the bank run the show and a goon heads up the board. Surely, we can do better than that!

 

If there was any decency left in the world, the current shareholders would wave them goodbye and allow the fans to rescue the club before they bury it!

 

I think it was poo pooed at the time because the value of the club was much higher and therefore the chances of a fans buyout much less. 25% of the shares would provide a very strong launch platform - about £1.5m I think at todays price.

[SaintRobbie]

I think this thread has run its course but one thought to leave it on...

 

How much money did the shareholders, boardmembers and directors takeout of this club?

 

How much money would therefore have been available to this club?

 

How different might things have been over the last 14 years had we not paid a fortune to boardmembers and shareholders?

 

How much different would things be right now?

 

EVEN IF (AND ITS SUCH A HUGE 'IF' THAT ITS PROBABLY NOT WORTH SAYING) THE PLC WAS TO TURN THINGS AROUND. HOW LONG BEFORE SHAREHOLDERS AND BOARDMEMBERS START TO TAKE FROM THE CLUB AGAIN?

 

Lowe out. Plc out. Well done Sheffield Utd for showing us it can be done...as it stops to serve a useful purpose.

[SaintRobbie]

http://www.yorkshirepost.co.uk/sheffield-utd/Sheffield-United-to-delist-from.4760862.jp

 

Read this. They're right. The only way upwards.

[bridge too far]

Again, not supporting RL in any way, I don't think there's been a share dividend for at least two years.

[SaintRobbie]

Again, not supporting RL in any way, I don't think there's been a share dividend for at least two years.

 

I think you're right. I am highlighting the money taken in previous years and that it should not have been or should never go anywhere other than back into SFC ever again.