History of dispute
Football agent Michael Standing claims he has a 50 per cent stake held in trust for him following a verbal agreement with Mr Power in March 2013. He says he has put millions into the club since then via Mr Power. By contrast, Mr Power, who became chairman in the same year, says Mr Standing was acting as agent for his then client Premier League ace Gareth Barry. Mr Standing obtained a court injunction in November 2019 preventing Mr Power from selling the club without his permission. A five-day hearing to adjudicate on the claims is expected to take place in June 2022.
During the court cases, Mr Power claimed that he would be forced to put the club into administration if he was unable to sell to American-registered firm Able Company Swindon LLC. There remains confusion over the club’s ownership, with claims that up to 50 per cent of Mr Power’s share in the club is held in trust for former Premier League ace Gareth Barry’s agent Michael Standing. An interim injunction, issued in 2019, prevents Mr Power from selling the club or shares in holding companies Swinton and Seebeck without Mr Standing’s permission. A full injunction hearing is expected to take place at the end of 2021 or early 2022. The trial hearing is likely to last up to five days.
Lee Power apparently preparing to sell Swindon Town, court told thisiswiltshire.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisiswiltshire.co.uk Daily Mail and Mail on Sunday newspapers.