Lee Strafford
Encyclopedia
Lee Strafford is a former chairman of Sheffield Wednesday F.C.
He is co-founder of TheNetStart. Lee was also co-founder and CEO of successful UK ISP PlusNet.
Lee Strafford became chairman of Sheffield Wednesday on 7 January 2009, quickly made significant changes to the club including signing a charitable sponsorship deal with Sheffield Children's Hospital
. However, it was announced on 17 May 2010 that Strafford had resigned having failed to ensure that the club stayed in the Championship on the back of apparent major disruption within the boardroom. Following his resignation Strafford engaged in a corporate whistle blowing process exposing various issues that directly contributed to the clubs plight, a plight which almost resulted in the club being placed into administration. The club was bought by Milan Mandaric on 14 December 2010. Mandarics' bid was supported by the clubs bankers and major creditors the Co-Op Bank, in favour of an alternative bid by members of the incumbent board.
Strafford made his name with Sheffield based Internet provider PlusNet
. He took PlusNet from 7 to 200+ people and from £0 to £100 million market cap, with the company eventually being sold to British Telecom for only £67 million. While CEO, they went through three sale processes, 6 years as a reporting segment of Insight Enterprises Inc (NASDAQ
listed Fortune 500 business), one AIM
IPO, two and a half years as a PLC
and were eventually sold to BT Group
in January 2007.
Strafford was controversially sacked from his role in March 2007 after being accused of plotting to launch a rival business following PlusNet's £67 million acquisition by BT although no firm evidence of such a plan was ever produced.
Strafford has spent much of the time since the sale of PlusNet working with the Sheffield City Council and the two Sheffield Universities with a view to helping to create more technology start-ups in the region and establishing better support for existing technology businesses.
In December 2010 Strafford became a founding private sector board member of the Sheffield City Region Local Enterprise Partnership (http://www.sheffieldcityregion.org.uk/) ,working with a specific focus on the Creative and Digital industries agenda for the city region, and also working with the rest of the board on driving economic growth as a whole in the city region.
Sheffield Wednesday F.C.
Sheffield Wednesday Football Club are a football club based in Sheffield, South Yorkshire, England, who are currently competing in the Football League One in the 2011-12 season, in England. Sheffield Wednesday are one of the oldest professional clubs in the world and the fourth oldest in the...
He is co-founder of TheNetStart. Lee was also co-founder and CEO of successful UK ISP PlusNet.
Lee Strafford became chairman of Sheffield Wednesday on 7 January 2009, quickly made significant changes to the club including signing a charitable sponsorship deal with Sheffield Children's Hospital
Sheffield Children's Hospital
The Sheffield Children's Hospital is part of and the headquarters of the Sheffield Children's NHS Foundation Trust in Broomhill, Sheffield, South Yorkshire, England...
. However, it was announced on 17 May 2010 that Strafford had resigned having failed to ensure that the club stayed in the Championship on the back of apparent major disruption within the boardroom. Following his resignation Strafford engaged in a corporate whistle blowing process exposing various issues that directly contributed to the clubs plight, a plight which almost resulted in the club being placed into administration. The club was bought by Milan Mandaric on 14 December 2010. Mandarics' bid was supported by the clubs bankers and major creditors the Co-Op Bank, in favour of an alternative bid by members of the incumbent board.
Strafford made his name with Sheffield based Internet provider PlusNet
PlusNet
Plusnet is an Internet Service Provider based in Sheffield, South Yorkshire, England. Plusnet was floated on the Alternative Investment Market in July 2004, making them a Public limited company . It has been owned since 30 January 2007 by BT Group, but operates as a separate business...
. He took PlusNet from 7 to 200+ people and from £0 to £100 million market cap, with the company eventually being sold to British Telecom for only £67 million. While CEO, they went through three sale processes, 6 years as a reporting segment of Insight Enterprises Inc (NASDAQ
NASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
listed Fortune 500 business), one AIM
Alternative Investment Market
AIM is a sub-market of the London Stock Exchange, allowing smaller companies to float shares with a more flexible regulatory system than is applicable to the main market....
IPO, two and a half years as a PLC
Public limited company
A public limited company is a limited liability company that sells shares to the public in United Kingdom company law, in the Republic of Ireland and Commonwealth jurisdictions....
and were eventually sold to BT Group
BT Group
BT Group plc is a global telecommunications services company headquartered in London, United Kingdom. It is one of the largest telecommunications services companies in the world and has operations in more than 170 countries. Through its BT Global Services division it is a major supplier of...
in January 2007.
Strafford was controversially sacked from his role in March 2007 after being accused of plotting to launch a rival business following PlusNet's £67 million acquisition by BT although no firm evidence of such a plan was ever produced.
Strafford has spent much of the time since the sale of PlusNet working with the Sheffield City Council and the two Sheffield Universities with a view to helping to create more technology start-ups in the region and establishing better support for existing technology businesses.
In December 2010 Strafford became a founding private sector board member of the Sheffield City Region Local Enterprise Partnership (http://www.sheffieldcityregion.org.uk/) ,working with a specific focus on the Creative and Digital industries agenda for the city region, and also working with the rest of the board on driving economic growth as a whole in the city region.