Kirchner- A risk or a potential reward

[RoyMac5]

8 minutes ago, kevinhectoring said:

Because it might be unclear whether the club is liable. And because it might be unclear who the club is liable to. Or for another reason 

Lol.

You ARE Nixon's twin and I claim my £5. Give over with your hectoring now. #COYR

[Ram-Alf]

6 minutes ago, SillyBilly said:

while another is on the golf course tweeting.

 

[Woodley Ram]

1 hour ago, Foreveram said:

Really, and I thought £40 for a tee shirt was expensive.

it was XXXXL

[kevinhectoring]

4 hours ago, jono said:

Well as I have read it, Stretford gave or provided the club money on the surety/assumption/promise that CK would give it him back. Got suckered by a premier league snake oil salesman. Not our problem ! 

Don’t think Stretford got suckered by CK, not for one minute. They both assumed CK’s purchase would go through and probably didn’t agree what would happen if it didn’t. 
Looks more like CK was cajoled by Stretford into re bidding, with Stretford (and others?) promising to provide some of the capital. And then the whole thing fell apart because CK couldn’t prove that the money he’d sent was his own 
 

[kevinhectoring]

1 hour ago, RoyMac5 said:

Lol.

You ARE Nixon's twin and I claim my £5. Give over with your hectoring now. #COYR

You won’t see a penny until you return my son’s scarf 

[jono]

12 minutes ago, kevinhectoring said:

Don’t think Stretford got suckered by CK, not for one minute. They both assumed CK’s purchase would go through and probably didn’t agree what would happen if it didn’t. 
Looks more like CK was cajoled by Stretford into re bidding, with Stretford (and others?) promising to provide some of the capital. And then the whole thing fell apart because CK couldn’t prove that the money he’d sent was his own 
 

Could easily be. One of those things I doubt we will ever find out

[Rammy03]

Even Forbes are on it now. Definitely dodged a bullet

[Ramarena]

19 minutes ago, Rammy03 said:

Even Forbes are on it now. Definitely dodged a bullet

I just don't get how people couldn't see he was a shyster.

In the months when Slync’s employees were getting delayed or missed paychecks, Kirchner had bragged about his wealth online and made pronouncements about buying the bankrupt English football team Derby County. He had been pursuing the acquisition since late 2021, but had withdrawn his offer, reportedly worth $60 million, in December. Then after failing to buy another club, Preston North End—because it reportedly didn’t believe Kirchner had the funds—he returned to Derby with another offer and was selected as the preferred bidder on April 11.

Even Ridsdale saw it........I suppose it takes one to know one.

The more you read the worse it gets. This article claims his company only has $15 grand in the bank at the end of May. 

I think it's a good thing that everyone who had involvement in this bid (Rooney, Stretford, His Holiness Saint Garry Cook and Q) are now out of the club!

[RoyMac5]

35 minutes ago, Rammy03 said:

Even Forbes are on it now. Definitely dodged a bullet

Ohh that makes interesting reading:

"Investors like Goldman Sachs and Blumberg Capital—which had board seats and led funding rounds into Slync totaling $80 million, valuing the company at $240 million—appear to have taken no action when, on three occasions, executives were fired after approaching the board with concerns.

Central to these concerns was that the CFO and CRO of the company did not have access to all of the company’s bank accounts, according to six former employees. Instead, Kirchner himself provided quarterly financial reports to the board.

In addition, according to multiple people familiar with the matter, Kirchner reported to the board that Slync generated close to $30 million in revenue in 2021, from about 20 customers. In fact, the real figure was close to $1 million in annual revenue and fewer than five customers, these people say.  ...

On May 27, Kamdar told Selvidge that the Slync operating account had only $15,000 in it, and that he couldn’t confirm how much money was in Slync’s investment account because only Kirchner could access it, according to Selvidge’s lawsuit. ...A few days later, Kamdar was fired. On June 5, Selvidge sent a letter to the board asking why Kirchner was the only person at Slync with access and knowledge of its funds and called on the board to investigate and remove the CEO. On June 14, Selvidge was locked out of his company accounts, a move he claims amounted to being terminated as retaliation, according to a draft complaint seen by Forbes. ...

Weeks had turned into a month of missed paychecks, despite multiple assurances from Kirchner that the money was coming. Then, the company learned employees had been talking to journalists. Kirchner issued a threat on Slack: “The issues with sharing information publicly are jeopardizing the future of Slync … and I’ve been instructed to pursue legal remedies for any infractions,” he wrote on June 9. “Please don’t make a bad situation worse.

...”

This:

"...With three other cofounders who worked with Patel at Salesforce, they founded Slync.io in late 2017. Despite his lack of technical know-how, management experience or knowledge of the logistics sector, Kirchner was made CEO, because, an employee later recalled Patel saying, “he can sell to anyone.” 

Edited July 20, 2022 by RoyMac5

[JuanFloEvraTheCocu'sNesta]

55 minutes ago, RoyMac5 said:

Ohh that makes interesting reading:

"Investors like Goldman Sachs and Blumberg Capital—which had board seats and led funding rounds into Slync totaling $80 million, valuing the company at $240 million—appear to have taken no action when, on three occasions, executives were fired after approaching the board with concerns.

Central to these concerns was that the CFO and CRO of the company did not have access to all of the company’s bank accounts, according to six former employees. Instead, Kirchner himself provided quarterly financial reports to the board.

In addition, according to multiple people familiar with the matter, Kirchner reported to the board that Slync generated close to $30 million in revenue in 2021, from about 20 customers. In fact, the real figure was close to $1 million in annual revenue and fewer than five customers, these people say.  ...

On May 27, Kamdar told Selvidge that the Slync operating account had only $15,000 in it, and that he couldn’t confirm how much money was in Slync’s investment account because only Kirchner could access it, according to Selvidge’s lawsuit. ...A few days later, Kamdar was fired. On June 5, Selvidge sent a letter to the board asking why Kirchner was the only person at Slync with access and knowledge of its funds and called on the board to investigate and remove the CEO. On June 14, Selvidge was locked out of his company accounts, a move he claims amounted to being terminated as retaliation, according to a draft complaint seen by Forbes. ...

Weeks had turned into a month of missed paychecks, despite multiple assurances from Kirchner that the money was coming. Then, the company learned employees had been talking to journalists. Kirchner issued a threat on Slack: “The issues with sharing information publicly are jeopardizing the future of Slync … and I’ve been instructed to pursue legal remedies for any infractions,” he wrote on June 9. “Please don’t make a bad situation worse.

...”

This:

"...With three other cofounders who worked with Patel at Salesforce, they founded Slync.io in late 2017. Despite his lack of technical know-how, management experience or knowledge of the logistics sector, Kirchner was made CEO, because, an employee later recalled Patel saying, “he can sell to anyone.” 

This smells a lot like people are going to end up in prison.

[StaffsRam]

Can only imagine the world of sh*t we’d have been in….

[JuanFloEvraTheCocu'sNesta]

6 minutes ago, StaffsRam said:

Can only imagine the world of sh*t we’d have been in….

It is astounding that Quantuma, Triple S, the EFL and everyone else involved went along with him. Embarrassing for all of them.

[Toadbelly]

? wow

[alram]

we should never ever turn a blind eye to red flags ever again. the guy was clearly questionable from the very start. even preston tried to warn us off him i am sure they did more behind the scenes than the statement they posted.

 

when somebody is hiding something it is normally with good reason, how can he and his wife still be active on twitter after all this. he has no shame.

[Kinder]

Good grief. Fantasist at best but more likely a complete crook. 

[Rammy03]

 

[JfR]

4 hours ago, Rammy03 said:

Even Forbes are on it now. Definitely dodged a bullet

To borrow a phrase, it sounds like it's a total fuckjob

EDIT: Is the David Jeans that wrote this article any relation to Levi?

Edited July 20, 2022 by JfR

[Elwood P Dowd]

20 minutes ago, JfR said:

To borrow a phrase, it sounds like it's a total fuckjob

EDIT: Is the David Jeans that wrote this article any relation to Levi?

CK was living his own fantasy.

[Steve How Hard?]

Sounds very much like CK may go from making birdies to doing bird. 

[Bob The Badger]

4 hours ago, Rammy03 said:

Even Forbes are on it now. Definitely dodged a bullet

A bullet may not have killed us, we dodged Little Boy and Fat Man being dropped on PPS at the same time.