The Takeover Thread - Duchatelet Finally Sells (Jan 2020)

Davidsmith said:

Davidsmith said:

Airman Brown said:

alangee said:

I assume that the £40M is the figure to be paid to RD, there is still the £7M to be paid to the ex-directors, which makes the asking price £47M. I know that the directors £7M can be deferred, but it has to be paid at some time.

Not absolutely true, for the same reason it hasn't been paid to date, although the ex-directors could get (more) difficult over leases to people like franchisees. It's also likely to be bought out for less than £7m, if paid before strictly necessary under the terms.

There are at least 3 Ex Directors that will never negotiate their Loans or allow Leases until they are repaid in full.And until now, from what we understand, only one buyer has approached them and has known their position for quite some time.

Just a note on this comment of April 9th,this issue of Ex Directors Loans has never been addressed by Aussies, and never by Roland , so if they are a group of Investors and some or all require funding then that I suggest is the hold up, as they would want Charges removed and someone has to pay.

Or just carry them over, as Airman has suggested could be the case?

Davidsmith said:

Pedro45 said:

Davidsmith said:

Davidsmith said:

Airman Brown said:

alangee said:

I assume that the £40M is the figure to be paid to RD, there is still the £7M to be paid to the ex-directors, which makes the asking price £47M. I know that the directors £7M can be deferred, but it has to be paid at some time.

Not absolutely true, for the same reason it hasn't been paid to date, although the ex-directors could get (more) difficult over leases to people like franchisees. It's also likely to be bought out for less than £7m, if paid before strictly necessary under the terms.

There are at least 3 Ex Directors that will never negotiate their Loans or allow Leases until they are repaid in full.And until now, from what we understand, only one buyer has approached them and has known their position for quite some time.

Just a note on this comment of April 9th,this issue of Ex Directors Loans has never been addressed by Aussies, and never by Roland , so if they are a group of Investors and some or all require funding then that I suggest is the hold up, as they would want Charges removed and someone has to pay.

Or just carry them over, as Airman has suggested could be the case?

Only if they don't need to borrow against the assets of the club and are prepared to except unsecured loans, and they will be unable to lease any property to third parties.
I suggest this has been a stumbling block for all buyers as Roland unwilling to pay off these debts and buyers don't want to pay the extra £7mn .

I still don’t see that the loan holders are in any stronger position before or after a deal to leverage their position. These conditions apply now and have applied since 2010. Borrowing against the assets is likely to be limited in any event and the club had at least in some cases got round the third party leases by not bothering to formalise them.

It’s also the case that the loan holders are divided among themselves - particularly in relation to Murray - so it’s not a straightforward “£7m now or no deal” and never has been.

LargeAddick said:

and I assume that this sale is no different to when Roland bought the Club, the loans existed then and still existed afterwards.

Except some sources suggest Roland didn't know about them as he did not do thorough DD!

carly burn said:

Redhenry said:

My mob gone very quiet, nothing to add.

Yeah. Normally you can't shut them up!

Shame you don't, anything useful to add?

Davo55 said:

La minge de la singe a un marron tinge

Le singe est sous la table

Davidsmith said:

Airman Brown said:

Davidsmith said:

Pedro45 said:

Davidsmith said:

Davidsmith said:

Airman Brown said:

alangee said:

I assume that the £40M is the figure to be paid to RD, there is still the £7M to be paid to the ex-directors, which makes the asking price £47M. I know that the directors £7M can be deferred, but it has to be paid at some time.

Not absolutely true, for the same reason it hasn't been paid to date, although the ex-directors could get (more) difficult over leases to people like franchisees. It's also likely to be bought out for less than £7m, if paid before strictly necessary under the terms.

There are at least 3 Ex Directors that will never negotiate their Loans or allow Leases until they are repaid in full.And until now, from what we understand, only one buyer has approached them and has known their position for quite some time.

Just a note on this comment of April 9th,this issue of Ex Directors Loans has never been addressed by Aussies, and never by Roland , so if they are a group of Investors and some or all require funding then that I suggest is the hold up, as they would want Charges removed and someone has to pay.

Or just carry them over, as Airman has suggested could be the case?

Only if they don't need to borrow against the assets of the club and are prepared to except unsecured loans, and they will be unable to lease any property to third parties.
I suggest this has been a stumbling block for all buyers as Roland unwilling to pay off these debts and buyers don't want to pay the extra £7mn .

I still don’t see that the loan holders are in any stronger position before or after a deal to leverage their position. These conditions apply now and have applied since 2010. Borrowing against the assets is likely to be limited in any event and the club had at least in some cases got round the third party leases by not bothering to formalise them.

It’s also the case that the loan holders are divided among themselves - particularly in relation to Murray - so it’s not a straightforward “£7m now or no deal” and never has been.

Then why has deal not been done? Its a fact that two groups negotiating wanted those Loans cleared,maybe because they had Peninsular ambitions,maybe because their Banks wanted first charge.
Roland bought Club with no idea about Charges, Slater and Co bought while First Charge was owned by Banks and Directors Loans were second Charge and combined Debt was what £16mn?
So position now very different and buyers require clean title, why has no one completed a deal in a year?

In fact the position was worse in 2010 when the banks had first charge, as you set out. Does the club really care if the ex-directors block leases for CACT, the museum, etc? Would they want to do that themselves, anyway? Outsourced activities can be brought back in house - with no leases.

I’d suggest that ultimately the issue has always been that Duchatelet wants more than the club is reasonably worth - everything else is detail, including the loans. Meanwhile, he keeps digging his hole and loses more and more money.

Murray and others are very confident a deal will be done shortly. I don’t see there is anything useful anyone else can do at his point but wait for the season to finish, because at that point the club will either be sold or it will become clear that it won’t be in the near future by virtue of key appointments.

Airman Brown said:

Davidsmith said:

Airman Brown said:

Davidsmith said:

Pedro45 said:

Davidsmith said:

Davidsmith said:

Airman Brown said:

alangee said:

I assume that the £40M is the figure to be paid to RD, there is still the £7M to be paid to the ex-directors, which makes the asking price £47M. I know that the directors £7M can be deferred, but it has to be paid at some time.

Not absolutely true, for the same reason it hasn't been paid to date, although the ex-directors could get (more) difficult over leases to people like franchisees. It's also likely to be bought out for less than £7m, if paid before strictly necessary under the terms.

There are at least 3 Ex Directors that will never negotiate their Loans or allow Leases until they are repaid in full.And until now, from what we understand, only one buyer has approached them and has known their position for quite some time.

Just a note on this comment of April 9th,this issue of Ex Directors Loans has never been addressed by Aussies, and never by Roland , so if they are a group of Investors and some or all require funding then that I suggest is the hold up, as they would want Charges removed and someone has to pay.

Or just carry them over, as Airman has suggested could be the case?

Only if they don't need to borrow against the assets of the club and are prepared to except unsecured loans, and they will be unable to lease any property to third parties.
I suggest this has been a stumbling block for all buyers as Roland unwilling to pay off these debts and buyers don't want to pay the extra £7mn .

I still don’t see that the loan holders are in any stronger position before or after a deal to leverage their position. These conditions apply now and have applied since 2010. Borrowing against the assets is likely to be limited in any event and the club had at least in some cases got round the third party leases by not bothering to formalise them.

It’s also the case that the loan holders are divided among themselves - particularly in relation to Murray - so it’s not a straightforward “£7m now or no deal” and never has been.

Then why has deal not been done? Its a fact that two groups negotiating wanted those Loans cleared,maybe because they had Peninsular ambitions,maybe because their Banks wanted first charge.
Roland bought Club with no idea about Charges, Slater and Co bought while First Charge was owned by Banks and Directors Loans were second Charge and combined Debt was what £16mn?
So position now very different and buyers require clean title, why has no one completed a deal in a year?

In fact the position was worse in 2010 when the banks had first charge, as you set out. Does the club really care if the ex-directors block leases for CACT, the museum, etc? Would they want to do that themselves, anyway? Outsourced activities can be brought back in house - with no leases.

I’d suggest that ultimately the issue has always been that Duchatelet wants more than the club is reasonably worth - everything else is detail, including the loans. Meanwhile, he keeps digging his hole and loses more and more money.

Murray and others are very confident a deal will be done shortly. I don’t see there is anything useful anyone else can do at his point but wait for the season to finish, because at that point the club will either be sold or it will become clear that it won’t be in the near future by virtue of key appointments.

This is 100% the issue. Can speculate who is buying the club, when, and if the Aussies (if it was to be them) have had to try find the funding. But the bottom line is that Roland wanted to sell the club months ago, but not desperately enough to lower his stupid valuation.

We will no doubt see the end of him soon, but IF we were to get promotion, I can still see it dragging over the summer with Roland seeing as that as a way to add valuation onto the club.

TelMc32 said:

Bloody hell...even relegation threatened, Division 4, Morecambe can get a takeover sorted out...not too sure what the new owners - Bong Group - do, but I’m not gonna blow smoke on em!!

https://twitter.com/theleaguepaper/status/991325579210346496?s=21

Announced now that they know which division they are in next season.

Minge tu Rodney, minge tu.

I-SAW-POUSO-PLAY said:

Wtf is actually happening? Anyone know?

Erm....It appears not, no!

Page 700 woo hoo !!!

And still nothing happening !!

Just sell up and F#CK OFF !!