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.
Swindon Town chairman Lee Power, photographed last year at the Exeter City match Picture: DAVE EVANS Lawyers for Mr Standing and 15 per cent shareholder Clem Morfuni sought to block Mr Power’s attempt to lift both orders. Mr Morfuni’s company, Axis Football Investment Ltd, is keen to buy the club. It has offered to invest £250,000 – although a letter to Mr Power’s representatives asking for more details of Able’s offer had gone unanswered. Judge Thompsell, the deputy High Court judge hearing the case on Monday, likened the situation to a car speeding headlong towards a wall with Mr Morfuni and Mr Standing trying to pull the steering wheel one way and Mr Power attempting to turn the car the other way.