I am becoming increasingly surprised at the thought processes of those who are heaping praise on David Sheepshanks for his part in 'bringing' Marcus Evans - or more importantly his money - to Portman Road.
The man who brought the Club to the edge of financial ruin is suddenly being lorded as its saviour. I shake my head in amazement.....
David Sheepshanks is, at best, a very 'average' businessman with little on his CV to applaud. In fact as far as one can discern Sheepshanks has not got any qualifications, certainly none he let's on about. While he has always been a person who has touted himself as the ultimate Town fan this should not detract from the fact that he made mistakes which cost the Club dear. And in business you normally pay for those mistakes - if you are the man in charge and hence the desk on which the buck stops - with your job.
We all know of the 'extenuating circumstances' which have been put forward to excuse the disastrous financial period from which we are only just starting to emerge (how could we forget them, he reminds us ad nausem!). Of course the collapse of the ITV deal was not the fault of David Sheepshanks, despite his involvement in the negotiations, but equally those in high office are in part expected to be able to see possible outcomes rather more clearly than the rest of us who are not in possession of all the facts.
However, the purchase of overpriced and ineffective players, the payment of ludicrously high wages, Why did we have to pay Marshall £17K/wk? I expect Serini & the ageless
Finidi George were paid roughly the same? Also the mass building of new stands on high interest borrowed money are surely his responsibility - if they are not why was he/is he paid a Chairman's salary?
On that point a paid Chairman, in this league, is an expensive luxury - and let's be very clear about this - if a high profile job had become available at the FA Mr Sheepshanks would be long gone. We also have Derek Bowden who to all intents and purposes runs ITfc, also very well paid for his services.
Did he bring Marcus Evans to Portman Road? I very much doubt it. Rumour/fact has it that Sheepshanks has been seeking investment in the Club for several years - some refused on the basis that it is a bottomless money pit, some because Mr Sheepshanks himself was refusing to stand down unless he were to sell any potential investor his shares. Yes, all of this is conjecture but there is sufficient evidence from enough sources to suggest it is based in fact.
Marcus Evans (if indeed he exists and is not simply a front for a consortium) may well have found ITFC with no help whatsoever from the Chairman. He/they have extraordinarily complex financial dealings throughout the world and clearly a team of tax/investment advisers monitors this on an ongoing basis. Debt is a very useful tool when offset against highly taxed profits and the Marcus Evans 'team' may well have seen this Club as a tax write-off coupled with a possible sell-on profit situation if we can be manoeuvred back into the Premiership.
Is it any coincidence that this deal has been brokered when promotion is not out of the question with or without new funds? We may have been identified by his team as a Club which could gain promotion with a bit of help - rather than one requiring a whole new squad. Costs are well under control due to the lack of funds for the last few years and the debt was, no doubt, negotiable - as well as being tax deductible! Figures suggesting a settlement figure of £8M are probably not wildly inaccurate.
By taking such a huge stake in the Club Marcus Evans can amalgamate these losses with his gains elsewhere; again his ability to acquire such a massive holding would have made ITFC an attractive proposition.
Did David Sheepshanks bring Marcus Evans to ITFC? I doubt it. I suspect we were identified for all the reasons outlined above.
And finally ........I hope that Marcus Evans will also ensure that the £12M he is putting into the Club is carefully monitored. Let Derek Bowden spend it - he seems to know what he is doing. Have Mr Sheepshanks' passport temporarily revoked - on no account let him travel abroad looking at players, and have Sven's number banned on the Club switchboard so that he cannot 'recommend' any more players - we can't afford them!!
Cynical? Maybe! But the sad truth is that Mr Sheepshanks is not a good businessman and he is expensive. That I have learned to live with - what I am struggling with is the unproven belief that he has brought us salvation. I think it came here by itself!!!
But if our Chairman has one skill it is self promotion. The AGM/EGM approaches. No doubt a tear will appear in the corner of his eye as he tells us how hard he has worked to put the Club back on track........and some will no doubt lap it up. This is Suffolk after all. Anyone in a suit with a cultured accent is trusted implicitly.
Of course he always stated that once the Club was re-established on a firm financial footing he would resign. Shall we see that happen? I won't be hanging by my fingernails................... He also dismissed reports creditors were to be offered 10p the £ for what was owed. (source EADT Feb 2003), as it turns out it was only 5p so I suppose he did tell the truth on that occasion.
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