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

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  • Cafc43v3r said:
    Cafc43v3r said:
    Instead of pretending you want to invest in a football club, when what you really want is to run 'em in to the ground and fuck off with the assets, how about trying to work for a living.
    What assets exactly, to the nearest million, did Charlton or Bury have when he turned up? 
    Not sure that matters.

    If he doesn't asset strip he asks for a pay off to tear up his SPA and fuck off.
    But when has he actually achieved that?  Certainly not at Bury and almost no chance of it happening with us. 
    That's because not only is he a ****, he's a useless ****

    He was asking £6m for the club from Jenkins and then Sandgaard.


    First time I've seen this. Thanks. 
  • Cafc43v3r said:
    Cafc43v3r said:
    Instead of pretending you want to invest in a football club, when what you really want is to run 'em in to the ground and fuck off with the assets, how about trying to work for a living.
    What assets exactly, to the nearest million, did Charlton or Bury have when he turned up? 
    Not sure that matters.

    If he doesn't asset strip he asks for a pay off to tear up his SPA and fuck off.
    But when has he actually achieved that?  Certainly not at Bury and almost no chance of it happening with us. 
    Only because Nimer sold the club to TS (or started the process). Otherwise I have no doubt Phillips, Doughty and Bonne would have been sold fairly quickly with the money into their pockets. Not big bucks after deducting what they put in but 4mil for the above three isn’t unreasonable. Plus we have a few sell on fees. 
  • Cafc43v3r said:
    Cafc43v3r said:
    Instead of pretending you want to invest in a football club, when what you really want is to run 'em in to the ground and fuck off with the assets, how about trying to work for a living.
    What assets exactly, to the nearest million, did Charlton or Bury have when he turned up? 
    Not sure that matters.

    If he doesn't asset strip he asks for a pay off to tear up his SPA and fuck off.
    But when has he actually achieved that?  Certainly not at Bury and almost no chance of it happening with us. 
    Only because Nimer sold the club to TS (or started the process). Otherwise I have no doubt Phillips, Doughty and Bonne would have been sold fairly quickly with the money into their pockets. Not big bucks after deducting what they put in but 4mil for the above three isn’t unreasonable. Plus we have a few sell on fees. 
    I doubt we would have got anywhere near £4m, not in a fire sale when the buying club knows you're after cash

    But then stuff about the summer still doesn't make sense to me. How did we still pay wages right up until Thomas took us over, without selling anyone?
  • I don't think we would have a club to support without that intervention, as you say it bought us time, which was used well.
  • AndyG said:
    Cafc43v3r said:
    Cafc43v3r said:
    Instead of pretending you want to invest in a football club, when what you really want is to run 'em in to the ground and fuck off with the assets, how about trying to work for a living.
    What assets exactly, to the nearest million, did Charlton or Bury have when he turned up? 
    Not sure that matters.

    If he doesn't asset strip he asks for a pay off to tear up his SPA and fuck off.
    But when has he actually achieved that?  Certainly not at Bury and almost no chance of it happening with us. 
    Only because Nimer sold the club to TS (or started the process). Otherwise I have no doubt Phillips, Doughty and Bonne would have been sold fairly quickly with the money into their pockets. Not big bucks after deducting what they put in but 4mil for the above three isn’t unreasonable. Plus we have a few sell on fees.
    Have you forgotten the piece of paper that Dave Jones moved from view during the office visit that luckily interrupted a meeting between Farnell and Jones. What do you think he was writing on there ? My money would be on a list of players and their potential sale price. By sheer luck and alot of determination the fans bought the club enough time to halt the process via the sale to TS. If the fans hadn't fought them for those few months there isnt a chance there would have been much of a squad left after their asset stripping. Total arseholes the lot of them and hopefully they all get what they deserve in 2021
    Yep... something that ends all opportunity of being involved in any ones reality ever again... hopefully 
  • Prospective Burnley owners ALK Capital are confident of completing their takeover of the club by the end of the week.

    It is understood ALK managing director Alan Pace is in Lancashire to sort out the final details.

    The deal may be ratified before Burnley play Fulham in a crucial Premier League game on Sunday.

    Pace has passed the Premier League's owners and directors' test and intends to take a hands-on role at the club.

    ALK is an American sports investment firm headed up by Pace, former president of Major League Soccer side Real Salt Lake.

    https://www.bbc.co.uk/sport/football/55476276

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  • clive said:
    That Alan Pace guy looks a dead ringer for Thomas, must be a goodun :)
  • Net worth of new owners?.
  • Glad for them, poor old Chris though, will be interesting to see where he pitches up next though.
  • Anytime now farnell s stooges should be popping up on twitter claiming the new guys are fakes etc etc.
  • At first  glance I thought Paul Hollywood was the new owner 
  • Glad for them, poor old Chris though, will be interesting to see where he pitches up next though.
    Keep an eye on Grimsby....
  • Glad for them, poor old Chris though, will be interesting to see where he pitches up next though.
    Keep an eye on Grimsby....
    Conjecture or you have heard something? 
  • stonemuse said:
    Glad for them, poor old Chris though, will be interesting to see where he pitches up next though.
    Keep an eye on Grimsby....
    Conjecture or you have heard something? 
    Only from @SE7toSG3 ;)

    But the worry was Elliott's activities at Brookenby, the villains he is involved with, and Grimsby being in their backyard. 
  • Still think these shitmuffins will end up at Bolton somehow. 
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  • Still think these shitmuffins will end up at Bolton somehow. 
    Matt Southall gave it a go, so yeah why not Farnell too.


  • edited February 2021
    Thank God for the Fit and Proper persons test aye 

    Burnley's US takeover has left club £90m worse off and loaded with debt

    • Takeover by ALK Capital has used the club’s own money
    • Deal has similarities to leveraged buyout of Manchester United
    https://www.theguardian.com/football/2021/feb/02/burnley-us-takeover-has-left-club-90m-worse-off-and-loaded-with-debt
  • J BLOCK said:
    Thank God for the Fit and Proper persons test aye 

    Burnley's US takeover has left club £90m worse off and loaded with debt

    • Takeover by ALK Capital has used the club’s own money
    • Deal has similarities to leveraged buyout of Manchester United
    https://www.theguardian.com/football/2021/feb/02/burnley-us-takeover-has-left-club-90m-worse-off-and-loaded-with-debt
    Think I saw something yesterday about them trying to raise some cash by already selling a stake . 

  • J BLOCK said:
    Thank God for the Fit and Proper persons test aye 

    Burnley's US takeover has left club £90m worse off and loaded with debt

    • Takeover by ALK Capital has used the club’s own money
    • Deal has similarities to leveraged buyout of Manchester United
    https://www.theguardian.com/football/2021/feb/02/burnley-us-takeover-has-left-club-90m-worse-off-and-loaded-with-debt
    Football is rotten to the core. 
    Not just football though is it! 
  • Ah - a Highly Leveraged Transaction - all the rage in the mid 2000’s - Burnley fans need to be worried....
  • J BLOCK said:
    Thank God for the Fit and Proper persons test aye 

    Burnley's US takeover has left club £90m worse off and loaded with debt

    • Takeover by ALK Capital has used the club’s own money
    • Deal has similarities to leveraged buyout of Manchester United
    https://www.theguardian.com/football/2021/feb/02/burnley-us-takeover-has-left-club-90m-worse-off-and-loaded-with-debt
    Football is rotten to the core. 
    Not just football though is it! 
    Probably not but we are talking about Burnley/football so in this case I was just referring to football?
  • Worrying for them, and how must Dyche be feeling when after a summer when they spent peanuts, under the new owners they again spent nothing

    Man U generate shed loads of commercial income and will never go down. Burnley are completely different, if Dyche walks you can see them slumping
  • Burnley division one within three years?
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