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

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  • mendonca
    mendonca Posts: 9,405
    What happened to the Charlton protests going to Stage 2 / 3 to ensure the ex crooks don't get anywhere near another football club. Were the pursued or closed down due to lack of EFL cooperation. 
  • MattF
    MattF Posts: 3,797
    mendonca said:
    What happened to the Charlton protests going to Stage 2 / 3 to ensure the ex crooks don't get anywhere near another football club. Were the pursued or closed down due to lack of EFL cooperation. 
    Stage 3 was against the EFL I believe, I doubt it was ever perceived that this bunch would turn up at a EPL club
  • SantaClaus
    SantaClaus Posts: 7,652
    ex?
  • rananegra
    rananegra Posts: 3,689
    Good luck to those Burnley fans who realise the dangers they face. 
  • RedRobin
    RedRobin Posts: 1,377


    Who writes this shit? They talk as though Farnell owns the club already. Sounds similar to the BS he spouted when involved at Charlton and yet again crap journalists lap it up. 
  • iainment
    iainment Posts: 8,039
    I’ve posted thrice on a Burnley forum and tried to contact Alastair Campbell. It’s all I’m prepared to do. 
    The info is out there if they want to see it.
  • Siv_in_Norfolk
    Siv_in_Norfolk Posts: 4,057
    iainment said:
    I’ve posted thrice on a Burnley forum and tried to contact Alastair Campbell. It’s all I’m prepared to do. 
    The info is out there if they want to see it.
    A Burnley mate has asked me to links to info about the dangers I've just warned him of. Other than this thread, what can I give him to pass on? Farnell didn't have his own dossier thread, right? 
  • Dazzler21
    Dazzler21 Posts: 51,344
    Does Kashashy have the funds for this?
  • AppyAddick
    AppyAddick Posts: 1,475
    Farnell and El Kashkasy attend the first fans forum 😁
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  • siblers
    siblers Posts: 2,018
    edited October 2020
    I'd assume the Premier League will be a lot more tuned in than the EFL in terms of source of funds etc?

    The Premier League could block this. They won't want a repeat of Portsmouth 


  • N01R4M
    N01R4M Posts: 2,577
    Siv_in_Norfolk said:
    iainment said:
    I’ve posted thrice on a Burnley forum and tried to contact Alastair Campbell. It’s all I’m prepared to do. 
    The info is out there if they want to see it.
    A Burnley mate has asked me to links to info about the dangers I've just warned him of. Other than this thread, what can I give him to pass on? Farnell didn't have his own dossier thread, right? 
    I don't remember him having his own thread, although there was one called something like ESI research. 
    Probably mostly on the Bonkers Shenanigans thread - but anything of that sort would be members only. 

    Weegie posted that CAST are in contact with their opposite numbers in Burnley, so I expect they are feeding them info.

    This is an article about Wigan, but seemingly applicable to wherever he goes https://london-post.co.uk/wigan-athletic-takeover-in-chaos-as-former-charlton-athletic-director-looks-to-gain-control/  I particularly like the last paragraph which seems to sum things up nicely:
    "Helpless football fans will eagerly await to see if Farnell’s attempt to get his hands on the club will be successful as it could bring a whole host of unwanted unscrupulous vultures due to the failing FPP protecting our football institutes ."
  • MattF
    MattF Posts: 3,797

  • Ferryman
    Ferryman Posts: 2,921
    Todds_right_hook said:
    I wonder if farnell has Elliot lined up to pay the wages again
    I wonder if this has anything to do with the court case, trying to give the impression they were serious about owning a football club.
  • MattF
    MattF Posts: 3,797
    Ferryman said:
    Todds_right_hook said:
    I wonder if farnell has Elliot lined up to pay the wages again
    I wonder if this has anything to do with the court case, trying to give the impression they were serious about owning a football club.
    Might be way off, but I assume this brings Elliott's involvement in football to an end. Seems strange otherwise that Farnell would have had his appeal heard, yet nothing has been mentioned about Elliott's. Surely he'd have had his appeal heard too by now if he was still involved.
  • N01R4M
    N01R4M Posts: 2,577
    No reason for EFL to announce anything about Elliott at present, so (obviously) they won't.
    EFL will be forced to make an announcement if, say, Elliott turned up leach-like as a director at Burnley, should Farnell & El Kashashy be successful.
  • ISawLeaburnScore
    ISawLeaburnScore Posts: 9,779
    Well this is everything the Groovy Gang ever dreamed of if this comes off. Leaking to journos that they've been interested in Burnley for a year and Staunch Partners was incorporated for that purpose. Yet go back just a few months and Farnell was pulling the strings of his sham sale process at Charlton with El Kashashy skulking around in the shadows allegedly putting cash up and even attending the remote court hearings on at least one occasion. Now he apparently has access to £200m to spend on an acquisition of another club. Madness.
  • MattF
    MattF Posts: 3,797
    N01R4M said:
    No reason for EFL to announce anything about Elliott at present, so (obviously) they won't.
    EFL will be forced to make an announcement if, say, Elliott turned up leach-like as a director at Burnley, should Farnell & El Kashashy be successful.
    The EFL won't announce anything no, like they haven't with Farnell either
  • Bangkokaddick
    Bangkokaddick Posts: 4,295
    From today's Times.

    A couple of points stand out: the EFL may have cleared Farnell but the EPL may have stricter criteria. And if this has been ongoing for a year, how were they involved at Charlton? Conflict of interest, which I'm sure won't be ignored. I hope they take one look at the clubs Farnell has previously been involved in and take this into consideration as well.

    A deal is in process to buy Burnley, led by Mohamed Sayed Zein Elkashashy, an entrepreneur, and Chris Farnell, a Cheshire sports lawyer who had been banned from owning a football club until the EFL lifted the restriction today.

    Farnell and Elkashashy are the main players in a group of investors that would pay about £200 million for the Lancashire club, who are 18th in the Premier League.

    A source close to the pair claims they are closing in on a deal after 12 months of negotiations, having provided proof of funding and concluded a sale-and-purchase agreement with Mike Garlick, Burnley’s chairman, who owns 49.24 per cent of the club’s shares.

    Garlick and Burnley’s other leading shareholder, John Banaszkiewicz, who has a 28.2 per cent stake, had been in talks with ALK Capital LLC, an American investment group, but discussions have stalled.

    A takeover will have ramifications for the Burnley manager, Sean Dyche. Relations have long been strained between Garlick and Dyche over their different views on how to grow the club but it is understood Elkashashy and Farnell are keen to back Dyche and plan to provide him with funds to strengthen his squad.Elkashashy, 42, is an Egyptian food and leisure magnate while Farnell, 50, is a senior partner at IPS Law, based in Hale, which has advised the Belgium manager Roberto Martínez and players such as Cristiano Ronaldo and David Silva. He was also the lead lawyer for Swansea City when they were taken over by Steve Kaplan and Jason Levien in 2016.In November last year Elkashashy and Farnell set up a private investment company, Staunch Partners Limited, which shares an address with IPS Law and is thought to be the proposed takeover vehicle for Burnley.Farnell was cleared to pursue his bid for Burnley by an independent arbitration panel, which ruled today that an EFL ban on him owning a football club should be limited to five weeks, backdated to September 14.The ban was imposed after he was involved in a chaotic attempt to buy Charlton Athletic with Paul Elliott, a Manchester-based businessmen, from Tahnoon Nimer, who owned the club before selling it to Thomas Sandgaard, a Danish-American entrepreneur.Elliott and Farnell were unable to pass the EFL’s owners’ and directors’ Test in August. Farnell blamed an innocent error: he neglected to tick a box confirming he was briefly director of the company trying to buy Charlton. The tribunal agreed that he had not deliberately sought to mislead the EFL.Farnell was also a director at Wigan Athletic in 2013. He advised the former Leeds United owner Massimo Cellino and was hired by Bury’s board in a bid to keep the defunct club alive before its expulsion from the EFL last year.The attraction of Burnley for Elkashashy and Farnell is the club’s stability and recent history of being run on a sound financial footing, and the leadership provided by Dyche, who has achieved Europa League football and given Burnley five consecutive seasons in England’s top flight.Dyche will hope that any new owners provide him with funds to reinforce his squad. Burnley’s struggles this season — Monday’s home defeat by Tottenham Hotspur left them with one point from their first five games — suggest his desire is well-founded.4 Premier League clubs under English majority ownership if Burnley are sold (Brighton, Newcastle, Tottenham, West Ham)

  • golfaddick
    golfaddick Posts: 33,628
    Maybe another conflict of interst for the  SRA to consider, if CF has been interested in buying Burnley with El Kashashy at the same time as wanting to buy us with PE (and El Cash as part of the consortium according to PE comments to the Trust back in July). 
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  • ct_addick
    ct_addick Posts: 4,333
    Good chance they might go down and only have balloon payments. I would not trust them with any EPL payments. 
  • Todds_right_hook
    Todds_right_hook Posts: 10,881
    Callumcafc said:
    Banging my head against the wall reading some of the Burnley fans comments. “He’s just a lawyer”, “those clubs were in trouble before he arrived” etc

    How frustrating. 
    F**k them. They’ve been warned and think they know best. They will be the first to moan in 12 months when they’ve just lost 2-0 away at qpr to put them in the championship relegation zone, with Bonne scoring both
  • Rob7Lee
    Rob7Lee Posts: 9,595
    Interesting one this, as allegedly to purchase the club is £200m, so not really sure what their game/plan is here.
  • Chunes
    Chunes Posts: 17,349
    edited October 2020
    Rob7Lee said:
    Interesting one this, as allegedly to purchase the club is £200m, so not really sure what their game/plan is here.
    Buy the club, use it to fund a nice lifestyle, leech money out where they can (whatever they can get away with), flip it and sell it a few years down the line for a lot more money, because premier league club prices keep rising. My guess. 
  • Chris_from_Sidcup
    Chris_from_Sidcup Posts: 36,012
    Can't believe for a second that they've got 200m to buy a club and then god knows however much else to actually run it.

    Even if it's possible they could've got some investors on board, who the hell wants to invest in a relegation threatened premier league club with fans shut out, where there is probably little to no chance of making any money. It's not like Mansour or Abramovich where they don't care about losing money, they'd surely only be interested to make money. But the entire reason Garlick wants to sell is because Burnley are struggling and have been one of the worst financially affected clubs during Covid. That won't change just because a new investor comes in.

    I can't see this as anything other than them getting their name out there before moving onto a much cheaper lower profile club. 
  • Rob7Lee
    Rob7Lee Posts: 9,595
    Chunes said:
    Rob7Lee said:
    Interesting one this, as allegedly to purchase the club is £200m, so not really sure what their game/plan is here.
    Buy the club, use it to fund a nice lifestyle, leech money out where they can (whatever they can get away with), flip it and sell it a few years down the line for a lot more money, because premier league club prices keep rising. My guess. 
    That was my initial thought, but that relies on remaining in the PL which is far from certain, they have an ageing squad that will need a lot of work in the next 18 months.

    Risky, the £200min could quickly become £30/40m if they are relegated and fail to get back up. Very different prospect to paying £1.....
  • Chris_from_Sidcup
    Chris_from_Sidcup Posts: 36,012
    edited October 2020
    Chunes said:
    Rob7Lee said:
    Interesting one this, as allegedly to purchase the club is £200m, so not really sure what their game/plan is here.
    Buy the club, use it to fund a nice lifestyle, leech money out where they can (whatever they can get away with), flip it and sell it a few years down the line for a lot more money, because premier league club prices keep rising. My guess. 
    That works if you're the Glazers at Man U, but not at Burnley.

    For a start they're not guaranteed to stay in the league for a few years (possibly not even beyond next summer given their start to this season). Yes they could pocket the tv money and spend little on the team, but they've missed the boat for that this season, plus obviously in doing so they'll be in the championship pretty rapidly.

    Then suddenly the 200m investment isn't even worth a third of that. Burnley in the championship would be worth what? Northern club, no international appeal, smallish fan base, not many top players to sell. I'd say around 50-60m tops, and that'd only be because of the guaranteed parachute money for 2-3 years.
  • StrikerFirmani
    StrikerFirmani Posts: 2,742
    RedRobin said:


    Who writes this shit? They talk as though Farnell owns the club already. Sounds similar to the BS he spouted when involved at Charlton and yet again crap journalists lap it up. 
    "there will be no huge changes at the club"    Till Dave Jones shows up in his Range Rover as Director of football.

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