The deal

On the continent he’d have actually received death threats.

Nothing that comes out of the mans mouth can be trusted. His time is up. We all know why he needs to be gone. We’ve had the discussions and presented the facts and the reasons he needs offing.

Off ya pop John. Make sure the door doesn’t hit you on the bottom as you leave...watch your car getting out the tight space in the car park, wouldn’t want to get another scratch on it would you...

You all seem to be missing a very simple understand point, that is a basic procedure in the buying and selling of a business or shareholding’s such as this. I shall explain.

When the business negotiations are completed and all of the pricing is agreed, lawyers then draw up all of the nitty gritty terms and conditions of sale that will be put in place on which the sale is agreed. These are what are commonly known in mergers and acquisitions as, “Heads of Agreement”.

Heads of Agreement are, if you like, like the conveyance contracts that your solicitor draws up when buying and selling your home. But in respect of business sales, they include such things as contracts of undertakings, roles and responsibilities, protective covenants, the structure and schedule of the payments etc. Whether that’s payment in full on day one, or whether there is an ongoing “earn out” geared to the sale, sometimes with the vendor maintaining a role in the business if needed during a transitional period.

Now you may recall that it was publicised that the deal was a agreed and that the “Heads of Agreement” were drawn up to. So in essence the entire structure of the sale was agreed by all parties, to the extent that all felt satisfied enough to submit the application to the EFL, in order to progress the sale via the EFL fit and proper purpose enquiries.

Heads of Agreement were in place and all parties were on the same page. There HAS NOT been any 11th hour changes to the HOA’s on the part of anyone. There’s no nasty surprises that were unearthed that have caused one member of the consortium to change their mind. It’s as simple as Tom Shutes backing out, because when it came to completing, he got the jitters and lost his business confidence. What he has called personal reasons. That could be as he has financial issues, or that on reflection he just decided it wasn’t for him. Either way, he has wasted a lot of valuable time, and both the club and the other two investors have gone on record of saying that they are disappointed in Tom Shutes.

These 11th hour changes of mind happen in business sales every day. But, in the case of a football club, there’s a fan base that gets very emotional about it when it occurs. But it’s really not an unusual occurrence. Call it tyre kicking if you wish, but it is what it is... an investor that just didn’t have the strong desire and conviction to see through a deal and get into bed financially with the club we love.

It’s not for everyone, and it takes a financially well appointed person, with a lot of desire and enthusiasm, to take on a football club.

So are you saying  unequivocally the deal is going through,bet you are in the dark as much as anybody else,there needs to be a new age of transparency.

Get watching  Bayern v PSG Filipe, it’s just like watching Grimsby under Sir John

[quote=140774

It’s not for everyone, and it takes a financially well appointed person, with a lot of desire and enthusiasm, to take on a football club.[/quote]

Or someone on a super size ego trip.

Or a “it’s all about me” sort of character

Quoted from Fillipe Noche

You all seem to be missing a very simple understand point, that is a basic procedure in the buying and selling of a business or shareholding’s such as this. I shall explain.

When the business negotiations are completed and all of the pricing is agreed, lawyers then draw up all of the nitty gritty terms and conditions of sale that will be put in place on which the sale is agreed. These are what are commonly known in mergers and acquisitions as, “Heads of Agreement”.

Heads of Agreement are, if you like, like the conveyance contracts that your solicitor draws up when buying and selling your home. But in respect of business sales, they include such things as contracts of undertakings, roles and responsibilities, protective covenants, the structure and schedule of the payments etc. Whether that’s payment in full on day one, or whether there is an ongoing “earn out” geared to the sale, sometimes with the vendor maintaining a role in the business if needed during a transitional period.

Now you may recall that it was publicised that the deal was a agreed and that the “Heads of Agreement” were drawn up to. So in essence the entire structure of the sale was agreed by all parties, to the extent that all felt satisfied enough to submit the application to the EFL, in order to progress the sale via the EFL fit and proper purpose enquiries.

Heads of Agreement were in place and all parties were on the same page. There HAS NOT been any 11th hour changes to the HOA’s on the part of anyone. There’s no nasty surprises that were unearthed that have caused one member of the consortium to change their mind. It’s as simple as Tom Shutes backing out, because when it came to completing, he got the jitters and lost his business confidence. What he has called personal reasons. That could be as he has financial issues, or that on reflection he just decided it wasn’t for him. Either way, he has wasted a lot of valuable time, and both the club and the other two investors have gone on record of saying that they are disappointed in Tom Shutes.

These 11th hour changes of mind happen in business sales every day. But, in the case of a football club, there’s a fan base that gets very emotional about it when it occurs. But it’s really not an unusual occurrence. Call it tyre kicking if you wish, but it is what it is... an investor that just didn’t have the strong desire and conviction to see through a deal and get into bed financially with the club we love.

It’s not for everyone, and it takes a financially well appointed person, with a lot of desire and enthusiasm, to take on a football club.

Another comeback......

Quoted from Fillipe Noche

You all seem to be missing a very simple understand point, that is a basic procedure in the buying and selling of a business or shareholding’s such as this. I shall explain.

When the business negotiations are completed and all of the pricing is agreed, lawyers then draw up all of the nitty gritty terms and conditions of sale that will be put in place on which the sale is agreed. These are what are commonly known in mergers and acquisitions as, “Heads of Agreement”.

Heads of Agreement are, if you like, like the conveyance contracts that your solicitor draws up when buying and selling your home. But in respect of business sales, they include such things as contracts of undertakings, roles and responsibilities, protective covenants, the structure and schedule of the payments etc. Whether that’s payment in full on day one, or whether there is an ongoing “earn out” geared to the sale, sometimes with the vendor maintaining a role in the business if needed during a transitional period.

Now you may recall that it was publicised that the deal was a agreed and that the “Heads of Agreement” were drawn up to. So in essence the entire structure of the sale was agreed by all parties, to the extent that all felt satisfied enough to submit the application to the EFL, in order to progress the sale via the EFL fit and proper purpose enquiries.

Heads of Agreement were in place and all parties were on the same page. There HAS NOT been any 11th hour changes to the HOA’s on the part of anyone. There’s no nasty surprises that were unearthed that have caused one member of the consortium to change their mind. It’s as simple as Tom Shutes backing out, because when it came to completing, he got the jitters and lost his business confidence. What he has called personal reasons. That could be as he has financial issues, or that on reflection he just decided it wasn’t for him. Either way, he has wasted a lot of valuable time, and both the club and the other two investors have gone on record of saying that they are disappointed in Tom Shutes.

These 11th hour changes of mind happen in business sales every day. But, in the case of a football club, there’s a fan base that gets very emotional about it when it occurs. But it’s really not an unusual occurrence. Call it tyre kicking if you wish, but it is what it is... an investor that just didn’t have the strong desire and conviction to see through a deal and get into bed financially with the club we love.

It’s not for everyone, and it takes a financially well appointed person, with a lot of desire and enthusiasm, to take on a football club.

PS

Your patronising tone has all the hallmarks of a Tory Home Secretary.

Mr ‘Noche’ has about turned more times than the yearly new intakes of all the Armed Forces on passing out parades.

Phil claims he’s nothing to do with the club. Not a member of the board, nor an employee. Yet apparently he knows that the HOT have not been changed. How so, unless someone has broken a confidentiality agreement?

Methinks he’s talking about pig-meat filled, baked comestibles from Melton Mowbray.