The best I can piece together so far:
* freenode was run by elected volunteers.
* Lee stepped in to sponsor/fund the Freenode Live events
* Some assets were sold/transferred to Lee in the process of this
* Former staff admin leaves, new staff admin is elected
* New staff admin attempts to take control of assets they (reasonably) assume they should have control of
* Lee (reasonably) perceives this as control of assets being taken away from him - it's at this point we discover more about which assets were sold/transferred.
* Recent events driven by elected leadership discovering they're not actually leadership.
Essentially freenode has had a leadership vacuum for some time, and has been perfectly comfortable with that. But nature abhors a vacuum ..
You might note I have two groups marked as (reasonably) in opposite directions. As far as I can tell this is an information gap - what was sold/transferred was kept very, very quiet, so I do believe each side was behaving reasonably with the information available to them. So I believe what we're seeing this week, is what we would have seen during the actual sale, if these details were made remotely public at the time.