ASdTorrevieja Information - tourist guide: SAMM INC considering FC Torrevieja future 

SAMM INC considering FC Torrevieja future
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A. Michael on 15 March, 2010 01:13:00

From Peter Fulford, Chief Executive, SAMM INC.

It has been quite a while since we updated everybody on our progress for putting
our ambitious plans into place for FC Torrevieja. I sincerely apologise for this
delay, which has led to some unfounded rumours circulating about our commitment
to the club. There have been some very good reasons behind this silence which is
sadly as a direct result of our failure to receive promised documentation and
vital information which we need to present to our investors. Some of this key
paperwork remains outstanding to this current moment, despite numerous requests
from a range of different people.
Let me make it abundantly clear in plain language that funding is NOT an issue
for SAMM INC. We have an overall pot of 20 Million Euros available for
development, and we have independent verification of this from a Spanish
solicitor. We have been greatly disturbed about false statements about our
financial background made by individuals who have absolutely no knowledge of our
circumstances and clearly are ‘mischief-making’.
The SAMM INC investors are sensible and prudent businessmen
who have accumulated their wealth by working to plans, once they have secured
all the information necessary to make wise and commercial decisions. They will
NOT now change their way of working, which has stood them in good stead over the
years.
In truth, they have been doing their homework and besides the non-availability
of key papers, they have also been unimpressed by the relenting and
unsubstantiated negative postings by certain individuals on the Torry Army
website. Some of these postings, which in effect accuse SAMM INC of behaving in
an improper way(and that is a moderate way of calling it), have led the
investors to consider whether it is worth their time and their resources
investing substantial funds in the club.  Why should they devote their energies
to something if they are not wanted and being rubbished for their efforts? They
have plenty of other projects they could turn to, and in their extensive
careers, they have never come across anything at all like this.
We continue to strive to obtain all the necessary documentation and we WANT to
continue to be the driving force behind FC Torrevieja.  It is a great pity for
the vast majority of local people that a determined group of disgruntled
detractors are trying to work against SAMM INC and everybody else, and as a
consequence are holding up a further release of funds to continue our investment
process.
SAMM INC has so far paid over fifty one thousand Euros to the FC Torrevieja
players to cover their wages from October to December. We fully intend to bring
these up to date at the earliest opportunity, but only when are in possession of
all the important and relevant documents that we have been asking for.
It has been agreed between SAMM INC and the club committee, that the forthcoming
council grant money will be used to bring the wages up to date, whilst this is
all sorted out.
Incidentally, additional funds have been used for investment in facilities at
the club.
I hope that this statement clarifies what is going on, and that we as an
organisation want to be very much part of FC Torrevieja’s future. In a proper
business-manner we would have preferred not to have put a lot of this in the
public domain, but we feel that enough is enough.
We will continue to press for the information that we need in a documented form,
and we sincerely hope for the sake of the club, that the few individuals
concerned in obstructing, delaying, and undermining our operations will begin to
see that it is they who are holding up the urgent progress that is needed, and
hurting the players and the club they profess to support.
Peter Fulford, Chief Executive, SAMM INC.