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Burnley - was a Farnell & El Kashashy story, now a leveraged US takeover.

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  • Had a read through that thread on the Burnley forum, that Grumps is one annoying fella. 
  • Let me guess. He's an 'itk' muppet, who constantly posts that he has inside information about the bid but he can't share it? 
  • This also explains why Jim White loves Farnell. Clearly CF is playing him. 

    He gives him more stories as he gets more involved with different clubs. The way White responded when Jordan challenged him yesterday and Thomas probed him today was hilarious. 
  • Let them get on with it all we can do is warn them🐀🐀
  • Let me guess. He's an 'itk' muppet, who constantly posts that he has inside information about the bid but he can't share it? 

    People like that don’t really exist surely.
  • cazo said:
    Let them get on with it all we can do is warn them🐀🐀
    But it's ultimately nothing to do with the fans, as however they feel they, it will have little effect on the sale process. In the same way that we weren't involved in the decision to sell the club to the Spivs, for them to sell it to Roland, for Roland to sell it to ESI and ESI to try and sell it to Elliott.
  • cazo said:
    Let them get on with it all we can do is warn them🐀🐀
    But it's ultimately nothing to do with the fans, as however they feel they, it will have little effect on the sale process. In the same way that we weren't involved in the decision to sell the club to the Spivs, for them to sell it to Roland, for Roland to sell it to ESI and ESI to try and sell it to Elliott.
    Agree, the fans make little significant impact on who the owner sell to, but, if they do wake up in the near future to the reality of Farnell etc, they can at least voice opinion, and make it as uncomfortable as possible for both the seller and potential new owners, can't they
  • cazo said:
    Let them get on with it all we can do is warn them🐀🐀
    But it's ultimately nothing to do with the fans, as however they feel they, it will have little effect on the sale process. In the same way that we weren't involved in the decision to sell the club to the Spivs, for them to sell it to Roland, for Roland to sell it to ESI and ESI to try and sell it to Elliott.
    Exactly.
    The Oystons did not sell because of the fans, it was due to a dispute with a director/chairman going to court and the Oystons losing. 
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  • J BLOCK said:
    Burnley Express sports editor:

    Chris Boden @bodenknights
    Just had an update in terms of the takeover - led to believe deal is in documentation now, i.e. takeover bid from ALK has been sent to chairman and shareholders detailing offer
    4:34 PM · Nov 20, 2020·Twitter for iPhone

    Chris Boden @bodenknights
    Now, Farnell/El Kashashy group also confident, told they are still waiting on owners and directors’ test, maybe last week of November, first week of December
    https://www.efl.com/-more/governance/efl-rules--regulations/appendix-3---owners-and-directors-test/

    1.1 (c) (ii) must surely come into play?
  • You need to be looking at the Prem ones Len. I think they're pretty similar, but there may be some subtle differences that we need to be aware of.
  • aliwibble said:
    You need to be looking at the Prem ones Len. I think they're pretty similar, but there may be some subtle differences that we need to be aware of.
    Good point well made!
  • edited November 2020
    aliwibble said:
    You need to be looking at the Prem ones Len. I think they're pretty similar, but there may be some subtle differences that we need to be aware of.
    https://www.premierleague.com/news/102375

    Probably similar. I tried to look but was taking sometime to download.

    EDIT: https://resources.premierleague.com/premierleague/document/2020/10/02/207ba212-d4d8-4c1c-bc0b-7d3cf6c8eedb/2020-21-PL-Handbook-021020.pdf

    Page 130 (or 69/371) F.1.12

    We need to know how the SRA are doing with the investigations. I wonder if  the Premier league have been made aware of them?
  • They will fail the test or make a "mistake" on the application form in the hope the other group get the deal done before them then claim "We tried everything we could" excuse again. 
  • They have no real interest or intent to buy Burnley, this is part of there next football club takeover. They just want this on their CV. 
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  • If the premier league allow this,then I absolutely give up.
  • cafc999 said:
    They have no real interest or intent to buy Burnley, this is part of there next football club takeover. They just want this on their CV. 
    They'll have the opportunity i'm sure to buy any number of league one/two clubs over the next year as the fall out from Covid goes on.

    Surprised actually that they've not looked to buy Sunderland, a big club going relatively cheaply as the owner is desperate to get rid.
  • If the premier league allow this,then I absolutely give up.
    Some subtle hints on Up The Clarets that they haven't and the other bid has now become favourites to takeover

    I suspect it's just a box that wasn't ticked.
  • edited November 2020
    cafc999 said:
    They have no real interest or intent to buy Burnley, this is part of there next football club takeover. They just want this on their CV. 
    They'll have the opportunity i'm sure to buy any number of league one/two clubs over the next year as the fall out from Covid goes on.

    Surprised actually that they've not looked to buy Sunderland, a big club going relatively cheaply as the owner is desperate to get rid.
    I believe Stewart Donald has struck a deal for Sunderland finally , French investor who's family formerly owned Marseille. 

    https://www.theguardian.com/football/2020/nov/13/sunderland-agree-takeover-deal-with-22-year-old-louis-dreyfus-heir
  • Addickted said:
    "A minor administrative error" ;)
  • Addickted said:
    If the premier league allow this,then I absolutely give up.
    Some subtle hints on Up The Clarets that they haven't and the other bid has now become favourites to takeover

    I suspect it's just a box that wasn't ticked.
    "A minor administrative error" ;)
  • Addickted said:
    ALK Capital are moving closer to finalising a deal to buy Burnley amid optimism that a takeover by the American sports investment company could be concluded before Christmas.

    Alan Pace, a former president of Major League Soccer franchise Real Salt Lake who heads up ALK, has been in daily dialogue with Burnley chairman Mike Garlick. Talks are now at an advanced after months of negotiations and an extensive due diligence process.

    Egyptian entrepreneur Mohamed Sayed Zein Elkashashy and Chris Farnell, a Cheshire-based sports lawyer, have also been vying for ownership of Burnley. However, ALK appear to be in pole position to acquire Garlick’s majority 49.24 per cent shareholding and John Banaszkiewicz’s 28.2 per cent stake in the Premier League club.
    When I was at school in the 80's I used to buy boxes of 50 Bic Biros for £2.50 and then sell them for 10p each. Can I buy a football club?
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