[Official Site] CLUB STATEMENT: EFL CHARGES AGAINST PAUL CONWAY, CHIEN LEE AND BARNSLEY FC

Discussion in 'Bulletin Board' started by Newsbot, Jul 13, 2023.

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  1. Red Mist

    Red Mist Well-Known Member

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    Red Mist, Jul 13, 2023
    #241
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  2. Red

    Redrascal Well-Known Member

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    Season tickets i regretfully say i hate thinking this way, ffs come clean all the time,you never lnow what to think it does mi head in.
     
    Redrascal, Jul 13, 2023
    #242
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  3. Gordon Owen

    Gordon Owen Well-Known Member

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    The *******.

    I've done with him now.

    Chien who? I'm in bits here.
     
    Gordon Owen, Jul 13, 2023
    #243
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  4. red

    redrum Banned Idiot

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    Been trying to tell you since 2019 they were no good glad you've realised.
     
    redrum, Jul 13, 2023
    #244
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  5. ATY

    ATYKE1 Well-Known Member

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    Gally - you must have the patience of Job to do what you do for us all.
    Remind me - how much do you get paid for all your troubles?
    ( ...and plenty of us do appreciate your endeavours)
     
    ATYKE1, Jul 13, 2023
    #245
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  6. Gally

    Gally Administrator Staff Member Admin

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    What do you think the lie was?

    I think you've missed the multiple times both of these questions have been addressed. The end game was always to grow as a business and sell in the future rather than make money out of the club itself. The belief is that European football is massively undervalued. Neerav was football mad and has alluded to the fact that it's more than a financial investment for him now and that he has become a fan. The Crynes obviously have only ever been involved because they are fans. JAQ has previously mentioned it was a financial investment but they are a family of sports lovers. Clearly, she has invested plenty of her time in the club over the last year and a bit. I suspect no matter what they say you wouldn't like or believe it.

    Have you got any questions that haven't been asked before?
     
    Last edited: Jul 13, 2023
    Gally, Jul 13, 2023
    #246
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  7. Gordon Owen

    Gordon Owen Well-Known Member

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    Will l **** be quiet. He's done in my eyes, I've written to him to tell him how disgusted l am, l've been telling him all year to cut his ties with Conway. Why did you do this to me Chien?
     
    Gordon Owen, Jul 13, 2023
    #247
  8. Gordon Owen

    Gordon Owen Well-Known Member

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    Chiens a lovely man, speaks highly of the city Barnsley.

    I put Chien Chien Chien to you a few days ago not months, did you miss that one?
     
    Gordon Owen, Jul 13, 2023
    #248
  9. sadbrewer

    sadbrewer Well-Known Member

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    I disagree... virtually everyone on here has been united in wishing to get rid of the dodgy dealing carpetbaggers, so many Wigan fans however seem to be quite happy to live with, and defend their cheating in regard to the rules over a long period.. as long as it improves their league position.
     
    sadbrewer, Jul 13, 2023
    #249
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  10. red

    redrum Banned Idiot

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    He's full of *****. Can't believe you and a few others fell for it all. Leaches lot of them.
     
    redrum, Jul 13, 2023
    #250
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  11. Stephen Dawson

    Stephen Dawson Well-Known Member

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    That flatbread has been overdone.
     
    Stephen Dawson, Jul 13, 2023
    #251
  12. Stephen Dawson

    Stephen Dawson Well-Known Member

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    In fairness I did say they all **** in the same pot and it was them that installed Conway in the first place.
     
    Stephen Dawson, Jul 13, 2023
    #252
  13. sadbrewer

    sadbrewer Well-Known Member

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    I can remember the "we must have foreign owners" argument from a good few on here.... Cryne is running the club into the ground... won't spend his money etc.
     
    Last edited: Jul 13, 2023
    sadbrewer, Jul 13, 2023
    #253
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  14. Skryptic

    Skryptic Well-Known Member

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    A brief summary, other posters might have a better grasp of the timelines for shareholder departures.

    2013 - Conway and Lee start a hedge fund operating in China.
    2014 - Conway forms PMG with Grace Hung, looking to operate in the Chinese entertainment industry
    June 2016 - PMG & Lee buy 80% of Nice for a reported €23m
    May 2017 - Nice finish 3rd in Ligue 1, qualify for the Champions League for the first time in his
    December 2017 - PMG looks to recruit investors to purchase a second club. The sales pitch is simple - TV rights in Europe are undervalued, and by using a data-led approach we can secure young footballers with a view to making a profit from reselling. A key point is they have the Godfather of analytics, Billy Beane, as part of the investment group. JAQ, Joshua D Samuelson & others agree to invest, however give effective control of their shares to PMG for a fixed period. This is probably the crux of the charges, by not notifying the EFL that JAQ etc were the ultimate beneficiaries of the shareholding there is likely a breach. Neerav invests separately to PMG - this is why he was a named director in his own right.
    December 2017 - Patrick Cryne sells to the consortium of PMG, Lee, Neerav, Beane & retains a 20% interest. Probably impressed by the performance of Nice and PMG's desire to use analytics, something he championed and his son, James, is heavily involved with. James, Chien & Dickson Lee, Conway, Hung, Neerav & Ganaye are named as directors of the football club.
    2017-19 PMG continue to buy clubs across Europe.
    December 2019 - Ganaye leaves for one of PMG/Lee's other cubs, Oostende.
    December 2019 - PMG sell Nice to Jim Ratcliffe (of INEOS) for a reported €100m
    January 2020 - Dane Murphy is appointed as CEO
    July 2020 - Club survives the Covid impacted season in the last game.
    August 2020 - The Crynes start legal action against BFC's holding company due to missed payments relating to the sale of the club, the club counters that there is an issue with the sale of the ground.
    November 2020 - Billy Beane sells his 1 million shares in the club to Neerav. Beane goes on to invest in other clubs in Europe separately to PMG/Lee.
    January 2021 - Neerav sells 225,000 shares to Chien Lee.
    January 2021 - After a decent start to the season the club are comfortably mid-table. Murphy looks to sign Daryl Dike, a player he's aware of from his knowledge of the US soccer system. Paul Conway instead pushes to sign Obbi Oulare, a relative unknown. Dike is signed, however relations between CEO and Chairman are irreprably broken.
    June 2021 - Murphy leaves the club despite the team having finished in the playoffs. Conway appoints himself as CEO and signs Oulare & Iseka, reportedly on big money.
    ???? - Neerav becomes aware of the existence of other shareholders under the PMG umberella, specifically JAQ. Neerav & the Crynes reach out due to concern for the direction of the club. The accounts show the club is losing millions each year.
    May 2022 - Club has one of its worst ever seasons, and is relegated without a fight.
    May 2022 - Several minority investors exercise their right to terminate PMG representation of their shares. The shares of JAQ, along with Neerav & the Crynes allows a change to the composition of the board, with Neerav taking over as Charman. Conway & Lee retain shareholdings but have no say on the board. Club starts an investigation into the ownership structure under Conway/Lee.

    Ultimately I think that by highlighting this ourselves we have done the right thing, and hopefully this will be factored into mitigation. The penalty handed out to Birmingham would be in line with my expectations. Hopefully as others have said this could be an opportunity to get rid of Conway and Lee once and for all.

    I don't expect this would have any impact on recruitment, the lads from Grimsby and Salford aren't going to turn down a move because of what has happened.

    An interesting article about PMG I found while reading:

    https://sportsinvestment.substack.com/p/pacific-media-groups-disastrous-impact
    (Proxy link) https://12ft.io/proxy?q=https://sportsinvestment.substack.com/p/pacific-media-groups-disastrous-impact
     
    Last edited: Jul 14, 2023
    Skryptic, Jul 13, 2023
    #254
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  15. lk3

    lk311 Well-Known Member

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    With the appeal process in place there is no way a disproportionate penalty will be enforced.
    A precedent has been set previously.
     
    lk311, Jul 13, 2023
    #255
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  16. Gol

    Goldthorpe-Red Well-Known Member

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    This was my immediate thought after reading the statement this morning.
     
    Goldthorpe-Red, Jul 13, 2023
    #256
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  17. red

    redrum Banned Idiot

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    Where's Martin Nettleton? Not slagging him off now are you.
     
    redrum, Jul 13, 2023
    #257
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  18. Andy Mac

    Andy Mac Well-Known Member

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    The early warning signs for me were when I heard our new 'billionaires' were staying at Tankersley Manor.
     
    Andy Mac, Jul 13, 2023
    #258
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  19. Andy Mac

    Andy Mac Well-Known Member

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    upload_2023-7-13_14-46-21.png
     
    Andy Mac, Jul 13, 2023
    #259
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  20. Gordon Owen

    Gordon Owen Well-Known Member

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    Fell for it? Aye.:D


    I think you've missed the pisstakes.
     
    Gordon Owen, Jul 13, 2023
    #260
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