City & FFP | 2020/21 Accounts released | Revenues of £569.8m, £2.4m profit (p 2395)

Sir peace frog said:
Truxtun Capital sat on the European Working Group of the FIDO Alliance
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Seriously though, what does this mean? You and @Damocles are saying it like it's some sort of gold plated guarantee they're a blue chip company when as far as I can tell it's just the first thing that pops up when you google them and some sort of security standard for transfers, which can be accredited in .

samuelyeboah said:
no one here seems to even try to argue against what he's claiming, just to claim he's not a fair commenter or do whataboutisms.
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Citizen Green said:
Both @Damocles & @Sir peace frog have debunked his 'investigative journalism' in a matter of minutes. The guy is yet another City detractor trying to sling mud at the club.
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Centurions said:
You do need to actually read the posts, they're not getting transmitted via radio waves into your head.
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I don't want to labour the point here, but as far as I can tell, nothing has been debunked, simply someone posting the first thing that sounded semi official about the parent company was enough for 2 other users to have a go at @samuelyeboah.

Maybe I'm just being ignorant, and if I knew anything about fintech I'd know being part of the FIDO Alliance is the ultimate seal of approval, but I can't really see anything that suggests it is and I've been looking for a while.
 
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Damocles said:
Oh and here's their parent company, Truxtun Capital, being listed as part of the FIDO Alliance Working Group

FIDO Alliance Launches European Working Group to Expand Use of Authentication Standards - FIDO Alliance

Organization to help companies meet emerging regulations and growing requirements for simpler, stronger user authentication
fidoalliance.org fidoalliance.org

That was one Google search
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I Googled "Wega goes bust" and the first suggestion is something called "Chubbygirlpics"? Is that related in someway?
 
domalino said:
Seriously though, what does this mean? You and @Damocles are saying it like it's some sort of gold plated guarantee they're a blue chip company when as far as I can tell it's just the first thing that pops up when you google them and some sort of security standard for transfers, which can be accredited in .







I don't want to labour the point here, but as far as I can tell, nothing has been debunked, simply someone posting the first thing that sounded semi official about the parent company was enough for 2 other users to have a go at @samuelyeboah.

Maybe I'm just being ignorant, and if I knew anything about fintech I'd know being part of the FIDO Alliance is the ultimate seal of approval, but I can't really see anything that suggests it is and I've been looking for a while.
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didn't have a go a sam, i simply looked for wega, and posted what i saw , they were being made out to be a non entity of a company that a journalist was suggesting was a fake sponsor, when all it took was a quick search and they are connected to that other company( can't remember the name)
 
domalino said:
Seriously though, what does this mean? You and @Damocles are saying it like it's some sort of gold plated guarantee they're a blue chip company when as far as I can tell it's just the first thing that pops up when you google them and some sort of security standard for transfers, which can be accredited in .







I don't want to labour the point here, but as far as I can tell, nothing has been debunked, simply someone posting the first thing that sounded semi official about the parent company was enough for 2 other users to have a go at @samuelyeboah.

Maybe I'm just being ignorant, and if I knew anything about fintech I'd know being part of the FIDO Alliance is the ultimate seal of approval, but I can't really see anything that suggests it is and I've been looking for a while.
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I’m not sure if anyone’s had a go at Samuel but if he chooses to post using the language of the WhattsApp Group, namely “Whataboutisms”, then posters will respond. It’s a group that despises our success and they would have achieved their goals if we hadn’t hammered UEFA at CAS.

Debunked might be too strong but Corbin doesn’t appear to have a smoking gun. Maybe the administration of our Club should have been more diligent in assessing this sponsor but some business will struggle to get off the ground during a recession. / pandemic. Maybe we should have partnered with a VIP Lane PPE provider?
 
Tim of the Oak said:
I think a business offering that’s gone bust is a legitimate explanation for having no staff or new customers.
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True. But they are currently still listed as a Global partner on City's OS.

The Wega website says that their UK representative is Gleevest Capital who seem to be made up of a UK Chartered Accountant, a couple of Swiss lawyers and a UAE lawyer.

Seems like they had ambitions to sell City branded Credit Cards to City fans. But in the same way that i wouldn't rush out and put Nexen tyres on my car I wouldn't sign up to a Credit Card just because it had a City badge on it either. Not surprised it's a failed enterprise but I am surprised that a Global partner of City has such a lack of presence.

That's said, none of us know the mechanics of the deal. It could have been signed on the premise of a % of revenue coming City's way if successful and is worth sweet FA.


But hardly a Global brand?
 
Tim of the Oak said:
I’m not sure if anyone’s had a go at Samuel but if he chooses to post using the language of the WhattsApp Group, namely “Whataboutisms”, then posters will respond. It’s a group that despises our success and they would have achieved their goals if we hadn’t hammered UEFA at CAS.

Debunked might be too strong but Corbin doesn’t appear to have a smoking gun. Maybe the administration of our Club should have been more diligent in assessing this sponsor but some business will struggle to get off the ground during a recession. / pandemic. Maybe we should have partnered with a VIP Lane PPE provider?
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Perhaps I've misread things but isn't this a long time sponsor who went bust a couple of months ago? The fact that it's still listed on the OS is neither here nor there really, although the name might have been taken up by someone else? Couldn't be arsed to look any further into it to be honest.
 
Sir peace frog said:
Truxtun Capital sat on the European Working Group of the FIDO Alliance and that Wega cards were active and used up until shutting down 2 months ago?


the company is approx worth £200m or as i found out 0.2billion.
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But they lost their operating license for Qatar some time ago. Similarly, promoted game never appeared. Ok licence loss enough to trigger action by us. Slack.
 
Bandofblues said:
True. But they are currently still listed as a Global partner on City's OS.

The Wega website says that their UK representative is Gleevest Capital who seem to be made up of a UK Chartered Accountant, a couple of Swiss lawyers and a UAE lawyer.

Seems like they had ambitions to sell City branded Credit Cards to City fans. But in the same way that i wouldn't rush out and put Nexen tyres on my car I wouldn't sign up to a Credit Card just because it had a City badge on it either. Not surprised it's a failed enterprise but I am surprised that a Global partner of City has such a lack of presence.

That's said, none of us know the mechanics of the deal. It could have been signed on the premise of a % of revenue coming City's way if successful and is worth sweet FA.


But hardly a Global brand?
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They seem like they were a small time operation but most big organisations start small. It’s a mystery why Wega are still showing as a global partner but maybe they have paid their fees for the year etc?

We are only recently a global brand and our business / partnership development people will ha e to work harder than their counterparts working for the rags and dippers. On another thread posters are asking why Away ticket priority is given to corporate season card holders and the answer is that City feel they have to to sell our most expensive tickets.

There are probably lessons to be learnt for our Club’s administration but the business development people involve were probably just trying to maximise contract values / income.
 
Citizen Green said:
Both @Damocles & @Sir peace frog have debunked his 'investigative journalism' in a matter of minutes. The guy is yet another City detractor trying to sling mud at the club.
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they haven't though?

they just showed it's a subsidiary of a different company who also doesn't seem to exist or at the very least be reputable, and is in fact mentioned in the article!

Again, it's great that you're looking to find whatever justification you can find to dismiss this entire article out of hand because it makes you uncomfortable to think about, but finding the most bare bone logical fallacy (ad hominem anyone?) and dusting your hands, saying "case closed" isn't actually a "debunking" of the allegations mentioned in the article.
 
samuelyeboah said:
they haven't though?

they just showed it's a subsidiary of a different company who also doesn't seem to exist or at the very least be reputable, and is in fact mentioned in the article!

Again, it's great that you're looking to find whatever justification you can find to dismiss this entire article out of hand because it makes you uncomfortable to think about, but finding the most bare bone logical fallacy (ad hominem anyone?) and dusting your hands, saying "case closed" isn't actually a "debunking" of the allegations mentioned in the article.
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Why would city agree to a sponsor that not real? It doesn’t make sense when we are looked at from all parts with fine tooth comb?!
 
waspish said:
Why would city agree to a sponsor that not real? It doesn’t make sense when we are looked at from all parts with fine tooth comb?!
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It was (is) real. It was selling a City branded pre-paid Mastercard. You can get the same from FairFX, Caxton, the Post Office etc without the branding.

Sounds like someone Massively ( see what I did there?) over-estimated the potential. A bit like the City Circle that was originally supposed to stretch all the way around the stadium.......

Now if they were selling Football club branded Cards for a large number of Clubs then it might have had legs, but if it's City only then you only need to look at the Ticket Prices thread to work out that it was never going to make money from City fans.
 
waspish said:
Why would city agree to a sponsor that not real? It doesn’t make sense when we are looked at from all parts with fine tooth comb?!
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that's another logical fallacy - saying there's no way city would do that because we're city.

Also, we LITEARLLY just had an accident like this with a crypto company, and the club had to end the formal cooperation after the controversy, so your argument of "city go through things with fine tooth comb" is false.
 
samuelyeboah said:
that's another logical fallacy - saying there's no way city would do that because we're city.

Also, we LITEARLLY just had an accident like this with a crypto company, and the club had to end the formal cooperation after the controversy, so your argument of "city go through things with fine tooth comb" is false.
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I said we get looked at with fine tooth comb not city look through these sponsors with a fine tooth comb!

It’s only City that get looked at from the media with a fine tooth comb and that’s a fact! Seeing as we talking about it!
 
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