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Post by bubba on Jul 24, 2022 17:45:46 GMT
If it is off has the club got the finances to see out the season? 😬 Dan says they have, as have to provide proof of funds before fixtures are released.
BSH have already provided proof of funds for the season, should the deal be ready to proceed then naturally new owners would have to do likewise, but the fixtures were released some time ago so impossible for anyone to take over now and provde p.o.f before they're released so think you've got your wires crossed.
Similarly not all takeovers happen in the Summer, none of those could have done so either.
EDIT
Think I misunderstood what you were saying, thought you were saying Richardson/Lopez had to provide p.o.f before the fixtures came out, as you were.  |
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Post by bubba on Jul 24, 2022 17:49:10 GMT
Welcome new members and thank you for your posts and information. I am not at all surprised by anything you have said and additional validation is always useful.
blueandtrue I think is a returning (old) member and a good poster, Kal is a newly created alter ego of a current poster, read into that what you will.
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Post by BluenoseB on Jul 24, 2022 17:50:44 GMT
I was reffering to the current owners having proof of funds which you have to show to the league ahead of the coming season. Thought if you didnt do this by a certain date, you dont get entered into the league and then not be involved in the fixtures. What part have i got my wires crossed?
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Post by bubba on Jul 24, 2022 17:52:49 GMT
I was reffering to the current owners having proof of funds which you have to show to the league ahead of the coming season. Thought if you didnt do this by a certain date, you dont get entered into the league and then not be involved in the fixtures. What part have i got my wires crossed? yep already edited, not quickly enough though.  |
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Post by BillyNoMatesformerlyTheMadFrog on Jul 24, 2022 17:54:23 GMT
All the years I have known PR, he is far from poor but not at all minted, but does have a big ego, and enjoys being the centre of attraction. So is he buying us or what kiddo |
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Post by bubba on Jul 24, 2022 17:56:40 GMT
Welcome new members and thank you for your posts and information. I am not at all surprised by anything you have said and additional validation is always useful.
blueandtrue I think is a returning (old) member and a good poster, Kal is a newly created alter ego of a current poster, read into that what you will.
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Post by BillyNoMatesformerlyTheMadFrog on Jul 24, 2022 17:56:52 GMT
Not too fussed where you file this (possibly up your arses) but I’m a tad ITK on this. As of last Wednesday my ITK (board level) said that press releases of an imminent take over were at best over optimistic. Contact still hoped something would happen as current ownership is clearly not a project to take us forward. Hi Laurence |
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Post by BillyNoMatesformerlyTheMadFrog on Jul 24, 2022 17:58:23 GMT
blueandtrue I think is a returning (old) member and a good poster, Kal is a newly created alter ego of a current poster, read into that what you will.
Who? Anyhow ban em both. |
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Post by bubba on Jul 24, 2022 17:58:54 GMT
not quite, Larry doesn't post here.
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Post by bubba on Jul 24, 2022 18:00:53 GMT
I wanted to give him the right of reply but will be banning his second log in. I'm not going to out him, he's been a bit daft.
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Post by tonyhancock on Jul 24, 2022 18:12:17 GMT
I can't see the point of it, unless he planned to be his own cheerleader.
The returning guy - someone who closed his account, or someone else who now has two ?
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Post by bubba on Jul 24, 2022 18:14:39 GMT
I can't see the point of it, unless he planned to be his own cheerleader. The returning guy - someone who closed his account, or someone else who now has two ? no it's a current poster who decided to create a new account for his ITK status, as said I won't be outing him, he's been a bit daft and will let it slide. |
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Post by tonyhancock on Jul 24, 2022 18:21:11 GMT
I can't see the point of it, unless he planned to be his own cheerleader. The returning guy - someone who closed his account, or someone else who now has two ? no it's a current poster who decided to create a new account for his ITK status, as said I won't be outing him, he's been a bit daft and will let it slide. I meant the other one, blueandtrue, someone who closed his account, or someone else who now has two ? |
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Post by ramsey on Jul 24, 2022 18:22:05 GMT
blueandtrue I think is a returning (old) member and a good poster, Kal is a newly created alter ego of a current poster, read into that what you will.
Keyser soze? |
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Post by bubba on Jul 24, 2022 18:29:06 GMT
no it's a current poster who decided to create a new account for his ITK status, as said I won't be outing him, he's been a bit daft and will let it slide. I meant the other one, blueandtrue, someone who closed his account, or someone else who now has two ?
no he only has one, think we lost him in between all the site jumping the forum had to do a few years back.
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Post by bubba on Jul 24, 2022 18:29:37 GMT
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Post by blueandtrue on Jul 24, 2022 18:36:41 GMT
I meant the other one, blueandtrue, someone who closed his account, or someone else who now has two ?
no he only has one, think we lost him in between all the site jumping the forum had to do a few years back.
That's correct, I was on the site when it first started up years and years ago. |
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Post by bubba on Jul 24, 2022 18:37:48 GMT
welcome back
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Post by tonyhancock on Jul 24, 2022 18:40:48 GMT
I meant the other one, blueandtrue, someone who closed his account, or someone else who now has two ?
no he only has one, think we lost him in between all the site jumping the forum had to do a few years back.
OK. That's nice, then. Good |
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Post by blueandtrue on Jul 24, 2022 18:41:10 GMT
Cheers thanks' for that.
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Post by bubba on Jul 24, 2022 18:43:17 GMT
The real 'Kal' has messaged me and whilst I'm not at liberty to divulge what he said, I believe he believes what he posted.
That's not to say I'm personally taking it as gospel, the source may very well not be on the inside enough to know either.
PS
Don't ask me for anything further, I've given my word I won't say anything.
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Post by TILTON on Jul 24, 2022 22:04:11 GMT
It’s March when you have to prove you can get through the next football season.
During due diligence I believe the new lot will have to show they have funds for at least one year approx £2m a month which is rough required income to run a championship club?
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Post by ramsey on Jul 24, 2022 22:21:13 GMT
Well we can probably guess who Kal's contact is. There aren't too many options. Seems there are different camps with vested interests feeding stuff to ITKs on social media and most of them haven't covered themselves in glory so far. There has been no official confirmation of any of this takeover hype and it seems to me it is probably nowhere near a done deal yet. Dan puts it at 30% likelihood I
believe. Richardson and Lopez can't get their stories straight about the source of funding and are talking about still negotiating clauses despite supposedly exchanging contracts. None of this really adds up at the moment.
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Post by honkybluenose on Jul 25, 2022 7:39:30 GMT
Well we can probably guess who Kal's contact is. There aren't too many options. Seems there are different camps with vested interests feeding stuff to ITKs on social media and most of them haven't covered themselves in glory so far. There has been no official confirmation of any of this takeover hype and it seems to me it is probably nowhere near a done deal yet. Dan puts it at 30% likelihood I believe. Richardson and Lopez can't get their stories straight about the source of funding and are talking about still negotiating clauses despite supposedly exchanging contracts. None of this really adds up at the moment. Yes none of it adds up because there is a real dearth of credible information. Richardson says he has exchanged contracts but what does this mean. Has he exchanged with ORI to buy the company ( which gives him 21.64 % of the club and 25% of the ground). Has he exchanged with Achiever Global Group to buy the remaining 75% of the Ground Or has he exchanged with Birmingham City Stadium to buy the ground from it? Has he exchanged with BSHL to give him a right to run the club now and a call option after 2 years in exchange for a loan now If he has exchanged one or more of these contracts are they watertight and subject only to EFL approval or is they an out for either or both parties and if so under what circumstances Or has he in effect just exchanged some non binding heads of agreement that have little legal standing other than exclusivity and non disclosure. What vehicle or vehicles is he using for the takeover. Where is the finance coming from and how much is available. Is the work done on the ground enough to put a true cost on the repairs and is he prepared to accept this or does he want to get his own consultant involved during DD He says he has paid a deposit but again who to? ORI, AGG, BHSL or all three? What is the deposit for? Is it a true deposit against purchase of some or more of the assets or is it merely a fee (refundable against purchase) to do full DD. If it is the latter given the complexity and legal searches involved how the hell does he expect to complete in 2 weeks ( now more like 1 week). As many have said we are also totally unsighted on the motives of Mr Kong/ VP and BSHL and don’t even know if they are aligned anymore. However if the deal is not as advanced as he says or indeed believes why the hell was he allowed to walk into the club last week as if it was a formality. Too many questions and I am afraid until we have some genuine and factual answers speculation, hearsay and rumour will continue to rule the day |
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Post by choc on Jul 25, 2022 8:12:59 GMT
Until something comes out from our Chinese owners I take it all with a very large pinch of salt.
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Post by TILTON on Jul 25, 2022 8:26:25 GMT
I would say the BSH lot will more than gladly agree a contract and sell the 21% and actually prefer it if the buyers default on their agreement to buy the rest. I don’t think any financial proof will be needed for second phase as that is just a case of agreeing to buy part of a company and paying then having a deal in principle.
Look at West Ham sale the only fixed date they have is for him to buy the club by the end of 2023 and in all business this is a judgment because the buyers could easily go broke before next phase.
They probably thinking of getting promoted to pay for it anyways.
It’s win win for the owners as they get off from coughing up money they no longer have.
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Post by honkybluenose on Jul 25, 2022 8:50:45 GMT
I would say the BSH lot will more than gladly agree a contract and sell the 21% and actually prefer it if the buyers default on their agreement to buy the rest. I don’t think any financial proof will be needed for second phase as that is just a case of agreeing to buy part of a company and paying then having a deal in principle. Look at West Ham sale the only fixed date they have is for him to buy the club by the end of 2023 and in all business this is a judgment because the buyers could easily go broke before next phase. They probably thinking of getting promoted to pay for it anyways. It’s win win for the owners as they get off from coughing up money they no longer have. Yes but no buyer would buy the 21% if they weren’t guaranteed 100% down the road and if the deal is the one glosbigblue posted (and this seems credible) then 100% of the cash is paid upfront, albeit some of it by way so a loan. The warranties and indemnities in that deal also make it clear that the cash to fund the club in the interim period prior to taking full control must come from the buyer. |
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Post by ramsey on Jul 25, 2022 9:00:04 GMT
I would say the BSH lot will more than gladly agree a contract and sell the 21% and actually prefer it if the buyers default on their agreement to buy the rest. I don’t think any financial proof will be needed for second phase as that is just a case of agreeing to buy part of a company and paying then having a deal in principle. Look at West Ham sale the only fixed date they have is for him to buy the club by the end of 2023 and in all business this is a judgment because the buyers could easily go broke before next phase. They probably thinking of getting promoted to pay for it anyways. It’s win win for the owners as they get off from coughing up money they no longer have. Surely if they are on the hook for funding the day-to-day, repairing the stadium and covering any losses, they will have to prove that can comfortably do that? |
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Post by bubba on Jul 25, 2022 15:10:08 GMT
According to Plaister who was very smug and convinced that Bassini was done, like a few others his source isn't exactly reliable.
Plaister has deleted his twatter account
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Post by honkybluenose on Jul 25, 2022 15:20:20 GMT
I would say the BSH lot will more than gladly agree a contract and sell the 21% and actually prefer it if the buyers default on their agreement to buy the rest. I don’t think any financial proof will be needed for second phase as that is just a case of agreeing to buy part of a company and paying then having a deal in principle. Look at West Ham sale the only fixed date they have is for him to buy the club by the end of 2023 and in all business this is a judgment because the buyers could easily go broke before next phase. They probably thinking of getting promoted to pay for it anyways. It’s win win for the owners as they get off from coughing up money they no longer have. Surely if they are on the hook for funding the day-to-day, repairing the stadium and covering any losses, they will have to prove that can comfortably do that? Yup. That will be part of the EFL approval required. The circulated deal makes it quite clear that they have to fund all the cash required. |
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