Following @oohaahmortimer's lead, I had a cheese-induced dream over the weekend that the takeover was being finalised today. For some reason I was summoned to the Valley to witness the consummation of this momentous event. Unfortunately the identity of our new owner(s) remained frustratingly elusive, as they appeared to be obscured by a haze... maybe it was just a mirage, induced by fatigue and too many dashed hopes.
Consistent with this, the official announcement (WIOTOS with Flaggy) was agreed by the parties to be "low key". Something along the lines of "Mr Duchatelet has transferred his shares in the club to new owners as of today. Further details are confidential at this moment but a further announcement will be made in the coming weeks."
As with all good dreams, elements from my childhood were thrown into the mix. In particular, my journey to the Valley was via Kinveachy Gardens, which hasn't been my route of choice since the early 80's. So maybe our new owner is ... Mark Hulyer.
Following @oohaahmortimer's lead, I had a cheese-induced dream over the weekend that the takeover was being finalised today. For some reason I was summoned to the Valley to witness the consummation of this momentous event. Unfortunately the identity of our new owner(s) remained frustratingly elusive, as they appeared to be obscured by a haze... maybe it was just a mirage, induced by fatigue and too many dashed hopes.
Consistent with this, the official announcement (WIOTOS with Flaggy) was agreed by the parties to be "low key". Something along the lines of "Mr Duchatelet has transferred his shares in the club to new owners as of today. Further details are confidential at this moment but a further announcement will be made in the coming weeks."
As with all good dreams, elements from my childhood were thrown into the mix. In particular, my journey to the Valley was via Kinveachy Gardens, which hasn't been my route of choice since the early 80's. So maybe our new owner is ... Mark Hulyer.
The delay in announcing a successful buyer is disconcerting.
This is a business valued only in the tens of millions with what, 150-200 employees. If a price has been agreed with 2 parties then I would assume they have both completed sufficient due diligence. I would imagine RD's lawyers would have had a draft Sale & Purchase agreement to share with the prospective buyers' lawyers as soon as the price was agreed. In my experience you get the two sets of lawyers to burn the midnight oil working to thrash out the final SPA terms, relaying issues back to the buyer and seller management on a real time basis. So I wonder what terms and conditions are holding up completion? Or, do the buyers still need to finalise their financing of the deal, or are they waiting for the EFL to complete the fit and proper test?
Whatever, I am surprised that the club have managed fairly effectively to keep a lid on the name of the buyers.
Not really that disconcerting (but admittedly very dull and annoying as we want him gone), the reason behind the delay (I expect) is as was hinted initially..
There is little impetus for the buyer to be saddled with losses while they cant influence the trajectory of the club.
Certainly while as others have mentioned our final finishing position is up for question this might affect the value, but as also said that could be factored in to any price one would think?
Il Duché has tried (I also expect) to push things on by means of 'other bids' and 'possible completion dates' but has clearly failed (he's not very good at not doing failure as we have seen many times).
If we were in with a chance of promotion I'd be more frustrated, but that clearly isn't a serious proposition.
The delay in announcing a successful buyer is disconcerting.
This is a business valued only in the tens of millions with what, 150-200 employees. If a price has been agreed with 2 parties then I would assume they have both completed sufficient due diligence. I would imagine RD's lawyers would have had a draft Sale & Purchase agreement to share with the prospective buyers' lawyers as soon as the price was agreed. In my experience you get the two sets of lawyers to burn the midnight oil working to thrash out the final SPA terms, relaying issues back to the buyer and seller management on a real time basis. So I wonder what terms and conditions are holding up completion? Or, do the buyers still need to finalise their financing of the deal, or are they waiting for the EFL to complete the fit and proper test?
Whatever, I am surprised that the club have managed fairly effectively to keep a lid on the name of the buyers.
Not really that disconcerting (but admittedly very dull and annoying as we want him gone), the reason behind the delay (I expect) is as was hinted initially..
There is little impetus for the buyer to be saddled with losses while they cant influence the trajectory of the club.
Certainly while as others have mentioned our final finishing position is up for question this might affect the value, but as also said that could be factored in to any price one would think?
Il Duché has tried (I also expect) to push things on by means of 'other bids' and 'possible completion dates' but has clearly failed (he's not very good at not doing failure as we have seen many times).
If we were in with a chance of promotion I'd be more frustrated, but that clearly isn't a serious proposition.
That's a good point but just reinforces the feeling that they probably haven't got much about them in terms of finance.
The delay in announcing a successful buyer is disconcerting.
This is a business valued only in the tens of millions with what, 150-200 employees. If a price has been agreed with 2 parties then I would assume they have both completed sufficient due diligence. I would imagine RD's lawyers would have had a draft Sale & Purchase agreement to share with the prospective buyers' lawyers as soon as the price was agreed. In my experience you get the two sets of lawyers to burn the midnight oil working to thrash out the final SPA terms, relaying issues back to the buyer and seller management on a real time basis. So I wonder what terms and conditions are holding up completion? Or, do the buyers still need to finalise their financing of the deal, or are they waiting for the EFL to complete the fit and proper test?
Whatever, I am surprised that the club have managed fairly effectively to keep a lid on the name of the buyers.
Not really that disconcerting (but admittedly very dull and annoying as we want him gone), the reason behind the delay (I expect) is as was hinted initially..
There is little impetus for the buyer to be saddled with losses while they cant influence the trajectory of the club.
Certainly while as others have mentioned our final finishing position is up for question this might affect the value, but as also said that could be factored in to any price one would think?
Il Duché has tried (I also expect) to push things on by means of 'other bids' and 'possible completion dates' but has clearly failed (he's not very good at not doing failure as we have seen many times).
If we were in with a chance of promotion I'd be more frustrated, but that clearly isn't a serious proposition.
That's a good point but just reinforces the feeling that they probably haven't got much about them in terms of finance.
Not necessarily could just be sound business people.
Additionally, they weren’t worried about the transfer window which could equally imply the opposite of your assertion.
Comments
Oh well. It's progress I suppose.
Would be nice. Worth $130b
That tomorrow
There'll be sun!
Where is this so called Sun?
Consistent with this, the official announcement (WIOTOS with Flaggy) was agreed by the parties to be "low key". Something along the lines of "Mr Duchatelet has transferred his shares in the club to new owners as of today. Further details are confidential at this moment but a further announcement will be made in the coming weeks."
As with all good dreams, elements from my childhood were thrown into the mix. In particular, my journey to the Valley was via Kinveachy Gardens, which hasn't been my route of choice since the early 80's. So maybe our new owner is ... Mark Hulyer.
But I can see that it makes no sense at all,
*This is a joke if anyone is reading this
I’m hoping its just a case of “the calm before the (go batshit crazy Roly has sold the club) storm”!
This is a business valued only in the tens of millions with what, 150-200 employees. If a price has been agreed with 2 parties then I would assume they have both completed sufficient due diligence. I would imagine RD's lawyers would have had a draft Sale & Purchase agreement to share with the prospective buyers' lawyers as soon as the price was agreed. In my experience you get the two sets of lawyers to burn the midnight oil working to thrash out the final SPA terms, relaying issues back to the buyer and seller management on a real time basis. So I wonder what terms and conditions are holding up completion? Or, do the buyers still need to finalise their financing of the deal, or are they waiting for the EFL to complete the fit and proper test?
Whatever, I am surprised that the club have managed fairly effectively to keep a lid on the name of the buyers.
There is little impetus for the buyer to be saddled with losses while they cant influence the trajectory of the club.
Certainly while as others have mentioned our final finishing position is up for question this might affect the value, but as also said that could be factored in to any price one would think?
Il Duché has tried (I also expect) to push things on by means of 'other bids' and 'possible completion dates' but has clearly failed (he's not very good at not doing failure as we have seen many times).
If we were in with a chance of promotion I'd be more frustrated, but that clearly isn't a serious proposition.
Additionally, they weren’t worried about the transfer window which could equally imply the opposite of your assertion.