The Takeover (again)

As long as it happens I'm sure most of us don't care how long it takes but has anyone heard how it's going, rumour, anything?

(I don't do Twitter or any of that stuff)

Can't be long now for the EFL to give it's approval.

Going on the Sunderland takeover timeline I wouldn't be surprised if it happens this week.

A they must be mad paying 2.5 million for this basket case of a club.

Personally PP, going on Stockwoods tweets is still going to happen but I would sit patiently, be surprised if we here anything over the coming weeks, I'm expecting an announcement at the end of the month..

Quoted from Northbank Mariner

Personally PP, going on Stockwoods tweets is still going to happen but I would sit patiently, be surprised if we here anything over the coming weeks, I'm expecting an announcement at the end of the month..

Thanks, just wondered how it's going.

End of thread       

Something to do with the end of the tax year???

Quoted from paul1717

Something to do with the end of the tax year???

If I was them I would drag it out so JF can carry the blame squarely for our relegation.

Quoted from moosey_club

If I was them I would drag it out so JF can carry the blame squarely for our relegation.

He will do anyway...

Quoted from Northbank Mariner

Personally PP, going on Stockwoods tweets is still going to happen but I would sit patiently, be surprised if we here anything over the coming weeks, I'm expecting an announcement at the end of the month..

It IS the end of the month.  

If the google searches are correct and the head tyre kicker is 4 million in debt, how does this fit the tests of having sufficient funds?  Maybe there are problems causing delay.

Quoted from Les Brechin

It IS the end of the month.  

Pedantic b@gger Les🤣..you know I meant end of March..plus I never said which month, now did I??🤔

Quoted from realist

If the google searches are correct and the head tyre kicker is 4 million in debt, how does this fit the tests of having sufficient funds?  Maybe there are problems causing delay.

Maybe something to do with Stockwood being worth in excess of £495m...

Quoted from Northbank Mariner
Personally PP, going on Stockwoods tweets is still going to happen but I would sit patiently, be surprised if we here anything over the coming weeks, I'm expecting an announcement at the end of the month..

Quoted from Les Brechin
It IS the end of the month.  

[quote=140299]

Pedantic b@gger Les🤣..you know I meant end of March..plus I never said which month, now did I??🤔[/quoe ]

GOOD old fashioned humour at its best.  

Quoted from thefish

He will do anyway...

Ahhh...but he himself, Day, Marley and their supporters will point to the records and say " he wasnt in charge when the club went into non League again, therefore you cant blame him" ....
I would much prefer it to be on file that JF was still the major shareholder and Day the Chairman when it is confirmed we are relegated.

They already set their future defence up by saying the consortium had a hand in appointing Hurst and in financing / agreeing some of the transfer window.

Quoted from realist

If the google searches are correct and the head tyre kicker is 4 million in debt, how does this fit the tests of having sufficient funds?  Maybe there are problems causing delay.

I'd like to know how, with your financial experience and nous, you've come to this conclusion.

On a slightly related note, Everton’s application for a new stadium built on Bramley Moor Dock was approved this week. All documents available to view online for those interested -

http://northgate.liverpool.gov.....NAPP&key=1166800

Quoted from mariner91

I'd like to know how, with your financial experience and nous, you've come to this conclusion.

Directors financial status is published by companies house. Search Tom Shutes and read this https://companycheck.co.uk/director/913355346/MR-THOMAS-HENRY-SHUTES/summary
However with your lack of any nous you might find it difficult to understand

£2.5 million for a soon to be non league club that is on its bottom and falling to bits is an absolute joke. Fenty shouldn't be getting a penny after the last 20 years!

Quoted from realist

Directors financial status is published by companies house. Search Tom Shutes and read this https://companycheck.co.uk/director/913355346/MR-THOMAS-HENRY-SHUTES/summary
However with your lack of any nous you might find it difficult to understand

Okay mate. If you think this means his net personal worth is £-4million then you have no idea what you're reading.

Quoted from promotion plaice

Can't be long now for the EFL to give its approval.

Maybe they've hit Catch 22 in the EFL's fit and proper persons test: You cannot run one of our football clubs if you are insane, however you have to be mad to want to buy Grimsby Town.

Quoted from ska face

On a slightly related note, Everton’s application for a new stadium built on Bramley Moor Dock was approved this week. All documents available to view online for those interested -

http://northgate.liverpool.gov.....NAPP&key=1166800

Looking at some of those documents it looks like the project was started in 1999 and has been passed now. Given Fenty's years as owner with out a new stadium it just shows that if their is a will there's a way.

Quoted from DB

Looking at some of those documents it looks like the project was started in 1999 and has been passed now. Given Fenty's years as owner with out a new stadium it just shows that if their is a will there's a way.

There’s always a way, but I’d imagine you also have to be forward thinking and not thinking entirely about yourself in these situations. Sadly, I don’t ever think a new stadium was ever about the club and moving us forward, more a vanity project to massage Fenty’s ego and raise his profile further...and make some cash.

Some might take comfort in the takeover going at a slower pace, may indicate that every detail is being covered.

You have to remember though, Fenty has put all that money in over the years. It’s hard for him to just walk away from tha...sorry, my bad. He’s getting it all back, and 200k that doesn’t belong to him.

It’ll happen, I guess we are all just anxious and want it done now. Start of a new era and all that...

Totally agree

Quoted from realist

Directors financial status is published by companies house. Search Tom Shutes and read this https://companycheck.co.uk/director/913355346/MR-THOMAS-HENRY-SHUTES/summary
However with your lack of any nous you might find it difficult to understand

Sorry, but you clearly have no understanding about what you are talking about. How does the financial statements of PLCs give any indication of the personal wealth of one of its directors? I’ll save you some time googling and tell you it doesn’t.

Just looking at the Wrexham ownership change, the supporters trust agreed to the take over on the 18th Nov, but it wasn't finalised till 10th Feb. So if Fenty agreed Christmas eve the deal will go through about 3rd week of this month using the Wrexham time scale.

Wish it could be sooner.

We think we have problems waiting for the takeover to go through but what about Derby :-

https://www.bbc.co.uk/sport/football/56194531

It looks like the prospective new owner hasn't any money !

'One current suggestion is that Sheikh Khaled is trying to find alternative sources of funding'

We don't know how lucky we are.

Quoted from DB

We think we have problems waiting for the takeover to go through but what about Derby :-

https://www.bbc.co.uk/sport/football/56194531

It looks like the prospective new owner hasn't any money !

'One current suggestion is that Sheikh Khaled is trying to find alternative sources of funding'

We don't know how lucky we are.

Remind me how much of their own money the Glazers used to buy Man Utd? How much of their own money did Burnley's new owners use?

Other than Abramovich & Sheikh Mansour types, does anyone use their own money to buy a football club (or any business for that matter)? Or do they finance it and then put the debt against the club/business they are buying?

Google how those brothers from Blackburn who own Euro Garages have financed their purchase of Asda.

Standard practise.

Quoted from GollyGTFC

Remind me how much of their own money the Glazers used to buy Man Utd? How much of their own money did Burnley's new owners use?

Other than Abramovich & Sheikh Mansour types, does anyone use their own money to buy a football club (or any business for that matter)? Or do they finance it and then put the debt against the club/business they are buying?

Google how those brothers from Blackburn who own Euro Garages have financed their purchase of Asda.

Standard practise.

It is not standard practise to have money in place only for it then to 'disappear'. The wording is Alternative Funding. If I'm not mistaken the Glaziers etc had money in place to buy with and then loaded the debt onto the club.

'One current suggestion is that Sheikh Khaled is trying to find alternative sources of funding'

The devil is in the detail, as they say.

I don’t like this thread heading and thread continuing over time.  If you go away for a few days you could the wrong impression that there had been ANOTHER takeover.  This could only be bad news 😉😆😆😆😞

Quoted from DB

It is not standard practise to have money in place only for it then to 'disappear'. The wording is Alternative Funding. If I'm not mistaken the Glaziers etc had money in place to buy with and then loaded the debt onto the club.

'One current suggestion is that Sheikh Khaled is trying to find alternative sources of funding'

The devil is in the detail, as they say.

Alternative funding could (and is in this case) be having finance in place & shopping around because he believes he can get a better rate and/or terms at a different lender.

If you were buying a business which has zero prospects of ever returning an annual profit (unless they reach the Premier League and even then they probably wouldn't make a profit) why on earth would you pay cash when you could finance it by way of a loan (against the club)?

Only a complete moron would pay cash for a football club.

On the subject of the takeover, you have to feel for the prospective new owners. It will be an absolute disaster if we go down for so many reasons.

All their plans will surely have been on the assumption that we would remain a league club; the kudos, the extra funding, the importance of a new stadium for a grand old football league club.

These plans won't be in tatters, but they will be severely dented if the unthinkable happens, especially in attracting the new investment they surely have in mind.

All the excitement of the takeover and their plans for the future will be sorely tested if we are relegated. I imagine the take up for season tickets would have been high with so much to look forward to, but it will be hard work generating the interest if the fixture list sees us in the National League.

In a perverted sort of way, this sad situation sums up Fenty and his one-man demolition of the club to leave office when we are rock bottom of the Football League, which for him is actually a higher pyramid finish than six of his disastrous seasons in charge and only marginally worse than the rest.

I feel as sick as the proverbial parrot, and so I look to Hurst and the team to get us out of this mess, but no luck so far. I am just hoping and praying for a spectacular turn around and for us to be the happiest fans in the league with so much to look forward to - our fortunes have got to change soon surely to God.

Quoted from DB

Looking at some of those documents it looks like the project was started in 1999 and has been passed now. Given Fenty's years as owner with out a new stadium it just shows that if their is a will there's a way.

A multi billionaire owner, backed by an even more multi billionaire helps!

Quoted from GollyGTFC

Alternative funding could (and is in this case) be having finance in place & shopping around because he believes he can get a better rate and/or terms at a different lender.

If you were buying a business which has zero prospects of ever returning an annual profit (unless they reach the Premier League and even then they probably wouldn't make a profit) why on earth would you pay cash when you could finance it by way of a loan (against the club)?

Only a complete moron would pay cash for a football club.

The selling owner usually receives CASH, so it doesn't say much for the buyers does it.

Quoted from lew chaterleys lover

On the subject of the takeover, you have to feel for the prospective new owners. It will be an absolute disaster if we go down for so many reasons.

All their plans will surely have been on the assumption that we would remain a league club; the kudos, the extra funding, the importance of a new stadium for a grand old football league club.

These plans won't be in tatters, but they will be severely dented if the unthinkable happens, especially in attracting the new investment they surely have in mind.

All the excitement of the takeover and their plans for the future will be sorely tested if we are relegated. I imagine the take up for season tickets would have been high with so much to look forward to, but it will be hard work generating the interest if the fixture list sees us in the National League.

In a perverted sort of way, this sad situation sums up Fenty and his one-man demolition of the club to leave office when we are rock bottom of the Football League, which for him is actually a higher pyramid finish than six of his disastrous seasons in charge and only marginally worse than the rest.

I feel as sick as the proverbial parrot, and so I look to Hurst and the team to get us out of this mess, but no luck so far. I am just hoping and praying for a spectacular turn around and for us to be the happiest fans in the league with so much to look forward to - our fortunes have got to change soon surely to God.

Football is a meritocracy. Every perspective owner knows that and accepts the risk.

I don't think league status (in the short to medium term) will effect the plans our perspective owners have for the club.

I don't think they are motivated by footballing success anywhere near as much as they are motivated by the idea of using the club to make things better in NE Lincolnshire.

Quoted from malkamalka

A multi billionaire owner, backed by an even more multi billionaire helps!

An owner who's had 16 years to raise funds and hasn't isn't much help.

Quoted from DB

The selling owner usually receives CASH, so it doesn't say much for the buyers does it.

Do you own a house? When you bought it the seller received the full sale price didn't they? In cash into their bank account. The fact that you got a mortgage doesn't mean they don't receive the cash.

You don't seem to have much understanding of money and finance.

Quoted from GollyGTFC

Do you own a house? When you bought it the seller received the full sale price didn't they? In cash into their bank account. The fact that you got a mortgage doesn't mean they don't receive the cash.

You don't seem to have much understanding of money and finance.

At the end of the day a 'moron' (your word) will loan cash (your word) to a person to buy a football club, as the buyer will not want to use his own cash. Being a highly intelligent financial person the moron will want some form of a guarantee from the person who wants invest the morons millions into a venture that will probably not make a profit (your words).

You said 'Alternative funding could (and is in this case) be having finance in place & shopping around because he believes he can get a better rate and/or terms at a different lender.'

Whereas the article from the BBC said, if care to read it ' No official reason has been given for the delay - or whether there is a cut-off date for the deal to go through.
A source close to the Sheikh refused to elaborate, on or off the record, when asked. Derby also declined to comment..'

Saying 'and is in this case' means that not only are you are fully aware of the Sheiks business dealings and have informed the world through The Fishy of the Sheiks intensions, and that what has been said by you is what the Sheik is definitely doing.

From this I can only conclude that you are more than a close friend of Sheik Khaled or you have a big ego.

Personally I think the latter but if I am wrong please accept my apologies.

Quoted from DB

At the end of the day a 'moron' (your word) will loan cash (your word) to a person to buy a football club, as the buyer will not want to use his own cash. Being a highly intelligent financial person the moron will want some form of a guarantee from the person who wants invest the morons millions into a venture that will probably not make a profit (your words).

You said 'Alternative funding could (and is in this case) be having finance in place & shopping around because he believes he can get a better rate and/or terms at a different lender.'

Whereas the article from the BBC said, if care to read it ' No official reason has been given for the delay - or whether there is a cut-off date for the deal to go through.
A source close to the Sheikh refused to elaborate, on or off the record, when asked. Derby also declined to comment..'

Saying 'and is in this case' means that not only are you are fully aware of the Sheiks business dealings and have informed the world through The Fishy of the Sheiks intensions, and that what has been said by you is what the Sheik is definitely doing.

From this I can only conclude that you are more than a close friend of Sheik Khaled or you have a big ego.

Personally I think the latter but if I am wrong please accept my apologies.

I didn't say that at all. I said that only a moron would use his own money to buy a business that will never make a profit for them.

Banks are only too pleased to offer loans at huge annual interest rates to wealthy people like the Glazers to buy football clubs. Why wouldn't they. Easy profits for them.

Oh and if you want detailed knowledge on Derby County and their financial matters can I point you to the excellent "Price of Football" podcast presented by Crystal Palace supporting comedian Kevin Day with University of Liverpool football finance expert & Brighton fan Kieran Maguire.

Derby County and their dubious financial issues are constantly the topic of discussion.

Quoted from GollyGTFC

I didn't say that at all. I said that only a moron would use his own money to buy a business that will never make a profit for them.

Banks are only too pleased to offer loans at huge annual interest rates to wealthy people like the Glazers to buy football clubs. Why wouldn't they. Easy profits for them.

It can't be easy to get a leveraged buy out for a football club. With the exception of a few clubs, they don't make money. Why take the risk of loaning money to a business that doesn't make a profit. Especially when your money is low down the pecking order for getting it back from administrators if it goes mammaries up

I bet if Jason Stockwood is reading this thread he's now frantically trying to find his calculator to double check his figures add up  

Quoted from GollyGTFC

I didn't say that at all. I said that only a moron would use his own money to buy a business that will never make a profit for them.

Banks are only too pleased to offer loans at huge annual interest rates to wealthy people like the Glazers to buy football clubs. Why wouldn't they. Easy profits for them.

I may have misunderstood your outburst about morons and cash but you definitely did say 'and is in this case' .So do you have inside information?

Quoted from GollyGTFC

Oh and if you want detailed knowledge on Derby County and their financial matters can I point you to the excellent "Price of Football" podcast presented by Crystal Palace supporting comedian Kevin Day with University of Liverpool football finance expert & Brighton fan Kieran Maguire.

Derby County and their dubious financial issues are constantly the topic of discussion.

If you care to recall that this thread is about 'The Takeover etc.', ours. Derby County just happen to be the club the BBC wrote about appertaining their problems with their take over by Sheik Khaled. This, to me, illustrated what might go wrong and I was merely mentioning the subject when you decided to have pop for no reason whatsoever.

So to ask you again do have inside information about the Derby take over or not.

PS. I have the slightest interest in Derby County and do not want detailed knowledge of them

Quoted from pen penfras

It can't be easy to get a leveraged buy out for a football club. With the exception of a few clubs, they don't make money. Why take the risk of loaning money to a business that doesn't make a profit. Especially when your money is low down the pecking order for getting it back from administrators if it goes mammaries up

Because the loan is secured against fixed assets. I.e. the clubs stadium and training ground.

Using the Derby County example. Pride Park is valued at £81m if you believe their current order or £49m if you believe the EFL.

It’s the same way that if you default on your mortgage then bank take control of your house.

If Derby’s perspective owner defaults on loan or interest repayments then the bank will take control of Pride Park.

It’s all very simple.

Quoted from DB

If you care to recall that this thread is about 'The Takeover etc.', ours. Derby County just happen to be the club the BBC wrote about appertaining their problems with their take over by Sheik Khaled. This, to me, illustrated what might go wrong and I was merely mentioning the subject when you decided to have pop for no reason whatsoever.

So to ask you again do have inside information about the Derby take over or not.

PS. I have the slightest interest in Derby County and do not want detailed knowledge of them

The information is all out there in public. I even told you about a fantastic podcast that goes into football finance in forensic detail. Listen to that series and you’ll get a great insight into football finance.

Golly the football finance expert

Quoted from realist

Golly the football finance expert

I never said that you sad little person.

What I am an expert in is not posting about stuff that I know nothing about. Because it would make me look like a moron when that complete lack of even basic knowledge is exposed by a fellow forum user.

Quoted from GollyGTFC

The information is all out there in public. I even told you about a fantastic podcast that goes into football finance in forensic detail. Listen to that series and you’ll get a great insight into football finance.

You didn't read what I said ' I have not the slightest interest in Derby County and do not want detailed knowledge of them'. How hard was that for you to understand. However what I am interested in is what you said 'Alternative funding could (and is in this case) be having finance'.

If you got this 'and is in this case' from your podcast then tell the BBC about it because they don't know. Or as I suggested to you do you know more about  Sheik Khaled and his finances than his trusted advisers.
You seem to be trying to deflect my questions with statements of no interest to me and your wiggle room for straight answer is diminishing. So let me make it very clear once again:-

Do you have the actual facts that ' (and is in this case)' is a true statement of the financial affairs of Sheik Khaled.  Yes or NO?

Simple question one answer please?

Quoted from DB

You didn't read what I said ' I have not the slightest interest in Derby County and do not want detailed knowledge of them'. How hard was that for you to understand. However what I am interested in is what you said 'Alternative funding could (and is in this case) be having finance'.

If you got this 'and is in this case' from your podcast then tell the BBC about it because they don't know. Or as I suggested to you do you know more about  Sheik Khaled and his finances than his trusted advisers.
You seem to be trying to deflect my questions with statements of no interest to me and your wiggle room for straight answer is diminishing. So let me make it very clear once again:-

Do you have the actual facts that ' (and is in this case)' is a true statement of the financial affairs of Sheik Khaled.  Yes or NO?

Simple question one answer please?

DB, you're getting into another shitstorm here, I know how passionate you are about GTFC, Christ we've had our run ins, if I were you rather than get into arguements that are nothing to do with our great club, let sleeping dogs lie and get back on your positivity horse..

Quoted from DB

You didn't read what I said ' I have not the slightest interest in Derby County and do not want detailed knowledge of them'. How hard was that for you to understand. However what I am interested in is what you said 'Alternative funding could (and is in this case) be having finance'.

If you got this 'and is in this case' from your podcast then tell the BBC about it because they don't know. Or as I suggested to you do you know more about  Sheik Khaled and his finances than his trusted advisers.
You seem to be trying to deflect my questions with statements of no interest to me and your wiggle room for straight answer is diminishing. So let me make it very clear once again:-

Do you have the actual facts that ' (and is in this case)' is a true statement of the financial affairs of Sheik Khaled.  Yes or NO?

Simple question one answer please?

Have a day off.

Quoted from Northbank Mariner

DB, you're getting into another shitstorm here, I know how passionate you are about GTFC, Christ we've had our run ins, if I were you rather than get into arguements that are nothing to do with our great club, let sleeping dogs lie and get back on your positivity horse..

Thank you for your concern. I'm quite happy to let sleeping DOGS lie, just I don't like being popped at for no reason. Here's to tonight and a victory

Quoted from ska face

Have a day off.

Not today there's a match tonight

Quoted from GollyGTFC

I never said that you sad little person.

What I am an expert in is not posting about stuff that I know nothing about. Because it would make me look like a moron when that complete lack of even basic knowledge is exposed by a fellow forum user.

Having a pop at me again are you. Being an expert inventor is most becoming. You haven't told us where you got your inside information from so I presume it was from your ego.

As a poster said it's time to move on, theirs a match tonight which is more important the you; and me for that matter.

Does anyone else read 6 pages of thread hoping for something about the takeover and wonder if freedom of speech would be a price worth paying?

Quoted from buckstown

Does anyone else read 6 pages of thread hoping for something about the takeover and wonder if freedom of speech would be a price worth paying?

Exactly!

In the midst of a relegation scrap, a takeover on the offing, 8 games in a month and a 'roadmap' for fans getting back into watch games.  You would expect this forum to be buzzing.

Instead there's sod all happening, most likely because people are bored with every flipping thread turning into a willy waving contest.  

Quoted from DB

Not today there's a match tonight

Doesn’t usually stop the team Having a day off… ....
Only joking, I will be watching from behind the settee
Utm

Quoted from DB

Thank you for your concern. I'm quite happy to let sleeping DOGS lie, just I don't like being popped at for no reason. Here's to tonight and a victory

There’s a huge amount of evidence to the contrary littered around both this forum and the non football one.

Looked at this thread and saw that there was 4 pages I hadn't read yet and thought to myself that something significant must have happened, but no, it's just DB arguing the toss again, so that was a waste of time.

Quoted from GollyGTFC

I never said that you sad little person.

What I am an expert in is not posting about stuff that I know nothing about. Because it would make me look like a moron when that complete lack of even basic knowledge is exposed by a fellow forum user.

You know absolutely nothing about me yet you see fit to pass judgement. I will bow to your better judgement,  it must have been one hell of a podcast you watched to give you so much knowledge.  Which book did you read to learn how to be an arrogant bottom hole?