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Laurence Bassini - Telegraph claims he's bought Birmingham subject to EFL approval (p8)
Comments
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It got wound upRothko said:What did happen with the winding up petition?3 -
Surely this has no chance of getting through the "Owners Test" ? the bit that made me laugh is "If Bassini fails to meet the repayments" lolAirman Brown said:Sullivan - Bassini - Harris - the circus never ends.2 -
Isn't this a conflict of interest and multiple ownership?
Not that that is the only problem here obviously.5 -
Got laughed in the paper recycling binRothko said:What did happen with the winding up petition?1 -
Well, good luck Bowyer at Brum.
Good news is Warburton was set, according to twitter rumours, to join BCFC under their new owners 😀0 -
Football is f*cked. How is that even allowed?clive said:EXCLUSIVE: David Sullivan is funding Laurence Bassini's proposed £35m bid to buy Birmingham City - and West Ham owner could regain control at St Andrew's if prospective buyer fails to repay £33m loan
https://www.dailymail.co.uk/sport/football/article-10802831/West-Ham-owner-David-Sullivan-funding-Laurence-Bassinis-proposed-35m-bid-buy-Birmingham-City.html9 -
I think Sullivan is selling or has sold West HamThe Red Robin said:
Football is f*cked. How is that even allowed?clive said:EXCLUSIVE: David Sullivan is funding Laurence Bassini's proposed £35m bid to buy Birmingham City - and West Ham owner could regain control at St Andrew's if prospective buyer fails to repay £33m loan
https://www.dailymail.co.uk/sport/football/article-10802831/West-Ham-owner-David-Sullivan-funding-Laurence-Bassinis-proposed-35m-bid-buy-Birmingham-City.html0 -
Presumably because all David Sullivan is here is a finance company. Nothing to do with BCFC. He only takes ownership of the real estate should the finance terms not be met. Security for his loan if you like.The Red Robin said:
Football is f*cked. How is that even allowed?clive said:EXCLUSIVE: David Sullivan is funding Laurence Bassini's proposed £35m bid to buy Birmingham City - and West Ham owner could regain control at St Andrew's if prospective buyer fails to repay £33m loan
https://www.dailymail.co.uk/sport/football/article-10802831/West-Ham-owner-David-Sullivan-funding-Laurence-Bassinis-proposed-35m-bid-buy-Birmingham-City.html0 -
Sounds to me like a purchase by Sullivan via the back door. He can’t own two clubs at once and he can’t sell WHU until next year without paying a hefty windfall tax.ShootersHillGuru said:
Presumably because all David Sullivan is here is a finance company. Nothing to do with BCFC. He only takes ownership of the real estate should the finance terms not be met. Security for his loan if you like.The Red Robin said:
Football is f*cked. How is that even allowed?clive said:EXCLUSIVE: David Sullivan is funding Laurence Bassini's proposed £35m bid to buy Birmingham City - and West Ham owner could regain control at St Andrew's if prospective buyer fails to repay £33m loan
https://www.dailymail.co.uk/sport/football/article-10802831/West-Ham-owner-David-Sullivan-funding-Laurence-Bassinis-proposed-35m-bid-buy-Birmingham-City.html
So he loans Bassini money to purchase Brum now and will effectively take it off him next year when Bassini can’t pay the loan repayments just after he flogs WHU, simples.5 -
Dodgy AFShootersHillGuru said:
Presumably because all David Sullivan is here is a finance company. Nothing to do with BCFC. He only takes ownership of the real estate should the finance terms not be met. Security for his loan if you like.The Red Robin said:
Football is f*cked. How is that even allowed?clive said:EXCLUSIVE: David Sullivan is funding Laurence Bassini's proposed £35m bid to buy Birmingham City - and West Ham owner could regain control at St Andrew's if prospective buyer fails to repay £33m loan
https://www.dailymail.co.uk/sport/football/article-10802831/West-Ham-owner-David-Sullivan-funding-Laurence-Bassinis-proposed-35m-bid-buy-Birmingham-City.html1 - Sponsored links:
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Mind you, I doubt Bassini will buy the club0
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It all sounds a bit dodgy, that's obvious because Bassini is involved. Not sure on EFL rules but will probably be cleared if it's merely a loan (issue arises when Bassini fails to repay).2
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that couldn't possibly be allowed, owning one club and having a controlling interest in another?clive said:EXCLUSIVE: David Sullivan is funding Laurence Bassini's proposed £35m bid to buy Birmingham City - and West Ham owner could regain control at St Andrew's if prospective buyer fails to repay £33m loan
https://www.dailymail.co.uk/sport/football/article-10802831/West-Ham-owner-David-Sullivan-funding-Laurence-Bassinis-proposed-35m-bid-buy-Birmingham-City.html2 -
It’s overwhelmingly certain that Sullivan has getting his hands on Birminghams real estate at the forefront of his decision to loan Bassini the money but even if Bassini defaults on the loan, Sullivan wouldn’t own BCFC any more than Duchatelet owns Charlton right now. The issue of owning two clubs doesn’t arise.Hartleypete said:
Sounds to me like a purchase by Sullivan via the back door. He can’t own two clubs at once and he can’t sell WHU until next year without paying a hefty windfall tax.ShootersHillGuru said:
Presumably because all David Sullivan is here is a finance company. Nothing to do with BCFC. He only takes ownership of the real estate should the finance terms not be met. Security for his loan if you like.The Red Robin said:
Football is f*cked. How is that even allowed?clive said:EXCLUSIVE: David Sullivan is funding Laurence Bassini's proposed £35m bid to buy Birmingham City - and West Ham owner could regain control at St Andrew's if prospective buyer fails to repay £33m loan
https://www.dailymail.co.uk/sport/football/article-10802831/West-Ham-owner-David-Sullivan-funding-Laurence-Bassinis-proposed-35m-bid-buy-Birmingham-City.html
So he loans Bassini money to purchase Brum now and will effectively take it off him next year when Bassini can’t pay the loan repayments just after he flogs WHU, simples.2 -
The EFL rules go further than just owning two clubs though. Also means someone can't be involved in certain affairs and there are also rules on lending/gifting money/guaranteeing debts.ShootersHillGuru said:
It’s overwhelmingly certain that Sullivan has getting his hands on Birminghams real estate at the forefront of his decision to loan Bassini the money but even if Bassini defaults on the loan, Sullivan wouldn’t own BCFC any more than Duchatelet owns Charlton right now. The issue of owning two clubs doesn’t arise.Hartleypete said:
Sounds to me like a purchase by Sullivan via the back door. He can’t own two clubs at once and he can’t sell WHU until next year without paying a hefty windfall tax.ShootersHillGuru said:
Presumably because all David Sullivan is here is a finance company. Nothing to do with BCFC. He only takes ownership of the real estate should the finance terms not be met. Security for his loan if you like.The Red Robin said:
Football is f*cked. How is that even allowed?clive said:EXCLUSIVE: David Sullivan is funding Laurence Bassini's proposed £35m bid to buy Birmingham City - and West Ham owner could regain control at St Andrew's if prospective buyer fails to repay £33m loan
https://www.dailymail.co.uk/sport/football/article-10802831/West-Ham-owner-David-Sullivan-funding-Laurence-Bassinis-proposed-35m-bid-buy-Birmingham-City.html
So he loans Bassini money to purchase Brum now and will effectively take it off him next year when Bassini can’t pay the loan repayments just after he flogs WHU, simples.2 -
Since when did Bassini or Sullivan care about rules?cafcfan1990 said:
The EFL rules go further than just owning two clubs though. Also means someone can't be involved in certain affairs and there are also rules on lending/gifting money/guaranteeing debts.ShootersHillGuru said:
It’s overwhelmingly certain that Sullivan has getting his hands on Birminghams real estate at the forefront of his decision to loan Bassini the money but even if Bassini defaults on the loan, Sullivan wouldn’t own BCFC any more than Duchatelet owns Charlton right now. The issue of owning two clubs doesn’t arise.Hartleypete said:
Sounds to me like a purchase by Sullivan via the back door. He can’t own two clubs at once and he can’t sell WHU until next year without paying a hefty windfall tax.ShootersHillGuru said:
Presumably because all David Sullivan is here is a finance company. Nothing to do with BCFC. He only takes ownership of the real estate should the finance terms not be met. Security for his loan if you like.The Red Robin said:
Football is f*cked. How is that even allowed?clive said:EXCLUSIVE: David Sullivan is funding Laurence Bassini's proposed £35m bid to buy Birmingham City - and West Ham owner could regain control at St Andrew's if prospective buyer fails to repay £33m loan
https://www.dailymail.co.uk/sport/football/article-10802831/West-Ham-owner-David-Sullivan-funding-Laurence-Bassinis-proposed-35m-bid-buy-Birmingham-City.html
So he loans Bassini money to purchase Brum now and will effectively take it off him next year when Bassini can’t pay the loan repayments just after he flogs WHU, simples.3 -
It won’t be Sullivan transferring the money out of his current account though will it. No doubt a vehicle company will be in place to make the loan and take ownership should the terms of the loan are not met. I have no doubt that if Sullivan wants this to go ahead it will. Thinking there are not ways around the inadequacy of EFL’s rules is very naive.cafcfan1990 said:
The EFL rules go further than just owning two clubs though. Also means someone can't be involved in certain affairs and there are also rules on lending/gifting money/guaranteeing debts.ShootersHillGuru said:
It’s overwhelmingly certain that Sullivan has getting his hands on Birminghams real estate at the forefront of his decision to loan Bassini the money but even if Bassini defaults on the loan, Sullivan wouldn’t own BCFC any more than Duchatelet owns Charlton right now. The issue of owning two clubs doesn’t arise.Hartleypete said:
Sounds to me like a purchase by Sullivan via the back door. He can’t own two clubs at once and he can’t sell WHU until next year without paying a hefty windfall tax.ShootersHillGuru said:
Presumably because all David Sullivan is here is a finance company. Nothing to do with BCFC. He only takes ownership of the real estate should the finance terms not be met. Security for his loan if you like.The Red Robin said:
Football is f*cked. How is that even allowed?clive said:EXCLUSIVE: David Sullivan is funding Laurence Bassini's proposed £35m bid to buy Birmingham City - and West Ham owner could regain control at St Andrew's if prospective buyer fails to repay £33m loan
https://www.dailymail.co.uk/sport/football/article-10802831/West-Ham-owner-David-Sullivan-funding-Laurence-Bassinis-proposed-35m-bid-buy-Birmingham-City.html
So he loans Bassini money to purchase Brum now and will effectively take it off him next year when Bassini can’t pay the loan repayments just after he flogs WHU, simples.0 -
but surely just knowing that ultimately its Sullivan's money means the fa couldn't possibly approve the takeover.ShootersHillGuru said:
It won’t be Sullivan transferring the money out of his current account though will it. No doubt a vehicle company will be in place to make the loan and take ownership should the terms of the loan are not met. I have no doubt that if Sullivan wants this to go ahead it will. Thinking there are not ways around the inadequacy of EFL’s rules is very naive.cafcfan1990 said:
The EFL rules go further than just owning two clubs though. Also means someone can't be involved in certain affairs and there are also rules on lending/gifting money/guaranteeing debts.ShootersHillGuru said:
It’s overwhelmingly certain that Sullivan has getting his hands on Birminghams real estate at the forefront of his decision to loan Bassini the money but even if Bassini defaults on the loan, Sullivan wouldn’t own BCFC any more than Duchatelet owns Charlton right now. The issue of owning two clubs doesn’t arise.Hartleypete said:
Sounds to me like a purchase by Sullivan via the back door. He can’t own two clubs at once and he can’t sell WHU until next year without paying a hefty windfall tax.ShootersHillGuru said:
Presumably because all David Sullivan is here is a finance company. Nothing to do with BCFC. He only takes ownership of the real estate should the finance terms not be met. Security for his loan if you like.The Red Robin said:
Football is f*cked. How is that even allowed?clive said:EXCLUSIVE: David Sullivan is funding Laurence Bassini's proposed £35m bid to buy Birmingham City - and West Ham owner could regain control at St Andrew's if prospective buyer fails to repay £33m loan
https://www.dailymail.co.uk/sport/football/article-10802831/West-Ham-owner-David-Sullivan-funding-Laurence-Bassinis-proposed-35m-bid-buy-Birmingham-City.html
So he loans Bassini money to purchase Brum now and will effectively take it off him next year when Bassini can’t pay the loan repayments just after he flogs WHU, simples.0 -
It would be the companies money not Sullivans. I’m not saying this is how it would be done but it’s seems most likely to me. There are plenty of people on this site that will be better informed about this sort of thing than me.cafcdave123 said:
but surely just knowing that ultimately its Sullivan's money means the fa couldn't possibly approve the takeover.ShootersHillGuru said:
It won’t be Sullivan transferring the money out of his current account though will it. No doubt a vehicle company will be in place to make the loan and take ownership should the terms of the loan are not met. I have no doubt that if Sullivan wants this to go ahead it will. Thinking there are not ways around the inadequacy of EFL’s rules is very naive.cafcfan1990 said:
The EFL rules go further than just owning two clubs though. Also means someone can't be involved in certain affairs and there are also rules on lending/gifting money/guaranteeing debts.ShootersHillGuru said:
It’s overwhelmingly certain that Sullivan has getting his hands on Birminghams real estate at the forefront of his decision to loan Bassini the money but even if Bassini defaults on the loan, Sullivan wouldn’t own BCFC any more than Duchatelet owns Charlton right now. The issue of owning two clubs doesn’t arise.Hartleypete said:
Sounds to me like a purchase by Sullivan via the back door. He can’t own two clubs at once and he can’t sell WHU until next year without paying a hefty windfall tax.ShootersHillGuru said:
Presumably because all David Sullivan is here is a finance company. Nothing to do with BCFC. He only takes ownership of the real estate should the finance terms not be met. Security for his loan if you like.The Red Robin said:
Football is f*cked. How is that even allowed?clive said:EXCLUSIVE: David Sullivan is funding Laurence Bassini's proposed £35m bid to buy Birmingham City - and West Ham owner could regain control at St Andrew's if prospective buyer fails to repay £33m loan
https://www.dailymail.co.uk/sport/football/article-10802831/West-Ham-owner-David-Sullivan-funding-Laurence-Bassinis-proposed-35m-bid-buy-Birmingham-City.html
So he loans Bassini money to purchase Brum now and will effectively take it off him next year when Bassini can’t pay the loan repayments just after he flogs WHU, simples.0 -
I'm not being naive thank you. I don't trust the EFL but I think the FA are stronger. No it's not Sullivan's current account but it is a company he clearly owns, he's not trying to hide it. I have no doubt Sullivan will easily be able to take control of Birmingham's assets similar to the Roland comparison you make. Anything further will be blocked IMO.ShootersHillGuru said:
It won’t be Sullivan transferring the money out of his current account though will it. No doubt a vehicle company will be in place to make the loan and take ownership should the terms of the loan are not met. I have no doubt that if Sullivan wants this to go ahead it will. Thinking there are not ways around the inadequacy of EFL’s rules is very naive.cafcfan1990 said:
The EFL rules go further than just owning two clubs though. Also means someone can't be involved in certain affairs and there are also rules on lending/gifting money/guaranteeing debts.ShootersHillGuru said:
It’s overwhelmingly certain that Sullivan has getting his hands on Birminghams real estate at the forefront of his decision to loan Bassini the money but even if Bassini defaults on the loan, Sullivan wouldn’t own BCFC any more than Duchatelet owns Charlton right now. The issue of owning two clubs doesn’t arise.Hartleypete said:
Sounds to me like a purchase by Sullivan via the back door. He can’t own two clubs at once and he can’t sell WHU until next year without paying a hefty windfall tax.ShootersHillGuru said:
Presumably because all David Sullivan is here is a finance company. Nothing to do with BCFC. He only takes ownership of the real estate should the finance terms not be met. Security for his loan if you like.The Red Robin said:
Football is f*cked. How is that even allowed?clive said:EXCLUSIVE: David Sullivan is funding Laurence Bassini's proposed £35m bid to buy Birmingham City - and West Ham owner could regain control at St Andrew's if prospective buyer fails to repay £33m loan
https://www.dailymail.co.uk/sport/football/article-10802831/West-Ham-owner-David-Sullivan-funding-Laurence-Bassinis-proposed-35m-bid-buy-Birmingham-City.html
So he loans Bassini money to purchase Brum now and will effectively take it off him next year when Bassini can’t pay the loan repayments just after he flogs WHU, simples.0 - Sponsored links:
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So assuming this goes ahead and Bassini defaults on the arrangement. Sullivan then takes Birminghams real estate into his ownership. Sells his share in WHU to David Gold in a friends arrangement where Gold then puts WHU up for sale and when the Hammers are sold he shares the profits with Sullivan and then both move in on BCFC. Possible ?cafcfan1990 said:
I'm not being naive thank you. I don't trust the EFL but I think the FA are stronger. No it's not Sullivan's current account but it is a company he clearly owns, he's not trying to hide it. I have no doubt Sullivan will easily be able to take control of Birmingham's assets similar to the Roland comparison you make. Anything further will be blocked IMO.ShootersHillGuru said:
It won’t be Sullivan transferring the money out of his current account though will it. No doubt a vehicle company will be in place to make the loan and take ownership should the terms of the loan are not met. I have no doubt that if Sullivan wants this to go ahead it will. Thinking there are not ways around the inadequacy of EFL’s rules is very naive.cafcfan1990 said:
The EFL rules go further than just owning two clubs though. Also means someone can't be involved in certain affairs and there are also rules on lending/gifting money/guaranteeing debts.ShootersHillGuru said:
It’s overwhelmingly certain that Sullivan has getting his hands on Birminghams real estate at the forefront of his decision to loan Bassini the money but even if Bassini defaults on the loan, Sullivan wouldn’t own BCFC any more than Duchatelet owns Charlton right now. The issue of owning two clubs doesn’t arise.Hartleypete said:
Sounds to me like a purchase by Sullivan via the back door. He can’t own two clubs at once and he can’t sell WHU until next year without paying a hefty windfall tax.ShootersHillGuru said:
Presumably because all David Sullivan is here is a finance company. Nothing to do with BCFC. He only takes ownership of the real estate should the finance terms not be met. Security for his loan if you like.The Red Robin said:
Football is f*cked. How is that even allowed?clive said:EXCLUSIVE: David Sullivan is funding Laurence Bassini's proposed £35m bid to buy Birmingham City - and West Ham owner could regain control at St Andrew's if prospective buyer fails to repay £33m loan
https://www.dailymail.co.uk/sport/football/article-10802831/West-Ham-owner-David-Sullivan-funding-Laurence-Bassinis-proposed-35m-bid-buy-Birmingham-City.html
So he loans Bassini money to purchase Brum now and will effectively take it off him next year when Bassini can’t pay the loan repayments just after he flogs WHU, simples.0 -
It's possible defendant on the original deal with Bassini and Sullivan's companyShootersHillGuru said:
So assuming this goes ahead and Bassini defaults on the arrangement. Sullivan then takes Birminghams real estate into his ownership. Sells his share in WHU to David Gold in a friends arrangement where Gold then puts WHU up for sale and when the Hammers are sold he shares the profits with Sullivan and then both move in on BCFC. Possible ?cafcfan1990 said:
I'm not being naive thank you. I don't trust the EFL but I think the FA are stronger. No it's not Sullivan's current account but it is a company he clearly owns, he's not trying to hide it. I have no doubt Sullivan will easily be able to take control of Birmingham's assets similar to the Roland comparison you make. Anything further will be blocked IMO.ShootersHillGuru said:
It won’t be Sullivan transferring the money out of his current account though will it. No doubt a vehicle company will be in place to make the loan and take ownership should the terms of the loan are not met. I have no doubt that if Sullivan wants this to go ahead it will. Thinking there are not ways around the inadequacy of EFL’s rules is very naive.cafcfan1990 said:
The EFL rules go further than just owning two clubs though. Also means someone can't be involved in certain affairs and there are also rules on lending/gifting money/guaranteeing debts.ShootersHillGuru said:
It’s overwhelmingly certain that Sullivan has getting his hands on Birminghams real estate at the forefront of his decision to loan Bassini the money but even if Bassini defaults on the loan, Sullivan wouldn’t own BCFC any more than Duchatelet owns Charlton right now. The issue of owning two clubs doesn’t arise.Hartleypete said:
Sounds to me like a purchase by Sullivan via the back door. He can’t own two clubs at once and he can’t sell WHU until next year without paying a hefty windfall tax.ShootersHillGuru said:
Presumably because all David Sullivan is here is a finance company. Nothing to do with BCFC. He only takes ownership of the real estate should the finance terms not be met. Security for his loan if you like.The Red Robin said:
Football is f*cked. How is that even allowed?clive said:EXCLUSIVE: David Sullivan is funding Laurence Bassini's proposed £35m bid to buy Birmingham City - and West Ham owner could regain control at St Andrew's if prospective buyer fails to repay £33m loan
https://www.dailymail.co.uk/sport/football/article-10802831/West-Ham-owner-David-Sullivan-funding-Laurence-Bassinis-proposed-35m-bid-buy-Birmingham-City.html
So he loans Bassini money to purchase Brum now and will effectively take it off him next year when Bassini can’t pay the loan repayments just after he flogs WHU, simples.0 -
Well I’m sure Sullivan knows how to trade this deal so that he makes a good few million profit.cafcfan1990 said:
It's possible defendant on the original deal with Bassini and Sullivan's companyShootersHillGuru said:
So assuming this goes ahead and Bassini defaults on the arrangement. Sullivan then takes Birminghams real estate into his ownership. Sells his share in WHU to David Gold in a friends arrangement where Gold then puts WHU up for sale and when the Hammers are sold he shares the profits with Sullivan and then both move in on BCFC. Possible ?cafcfan1990 said:
I'm not being naive thank you. I don't trust the EFL but I think the FA are stronger. No it's not Sullivan's current account but it is a company he clearly owns, he's not trying to hide it. I have no doubt Sullivan will easily be able to take control of Birmingham's assets similar to the Roland comparison you make. Anything further will be blocked IMO.ShootersHillGuru said:
It won’t be Sullivan transferring the money out of his current account though will it. No doubt a vehicle company will be in place to make the loan and take ownership should the terms of the loan are not met. I have no doubt that if Sullivan wants this to go ahead it will. Thinking there are not ways around the inadequacy of EFL’s rules is very naive.cafcfan1990 said:
The EFL rules go further than just owning two clubs though. Also means someone can't be involved in certain affairs and there are also rules on lending/gifting money/guaranteeing debts.ShootersHillGuru said:
It’s overwhelmingly certain that Sullivan has getting his hands on Birminghams real estate at the forefront of his decision to loan Bassini the money but even if Bassini defaults on the loan, Sullivan wouldn’t own BCFC any more than Duchatelet owns Charlton right now. The issue of owning two clubs doesn’t arise.Hartleypete said:
Sounds to me like a purchase by Sullivan via the back door. He can’t own two clubs at once and he can’t sell WHU until next year without paying a hefty windfall tax.ShootersHillGuru said:
Presumably because all David Sullivan is here is a finance company. Nothing to do with BCFC. He only takes ownership of the real estate should the finance terms not be met. Security for his loan if you like.The Red Robin said:
Football is f*cked. How is that even allowed?clive said:EXCLUSIVE: David Sullivan is funding Laurence Bassini's proposed £35m bid to buy Birmingham City - and West Ham owner could regain control at St Andrew's if prospective buyer fails to repay £33m loan
https://www.dailymail.co.uk/sport/football/article-10802831/West-Ham-owner-David-Sullivan-funding-Laurence-Bassinis-proposed-35m-bid-buy-Birmingham-City.html
So he loans Bassini money to purchase Brum now and will effectively take it off him next year when Bassini can’t pay the loan repayments just after he flogs WHU, simples.0 -
Possibly. I don't know why Birmingham are only going for 32mil, I'm guessing it's due to debts. Allowing Bassini to take control risks the future of the club, are the assets going to be bring much profit? I doubt it.ShootersHillGuru said:
Well I’m sure Sullivan knows how to trade this deal so that he makes a good few million profit.cafcfan1990 said:
It's possible defendant on the original deal with Bassini and Sullivan's companyShootersHillGuru said:
So assuming this goes ahead and Bassini defaults on the arrangement. Sullivan then takes Birminghams real estate into his ownership. Sells his share in WHU to David Gold in a friends arrangement where Gold then puts WHU up for sale and when the Hammers are sold he shares the profits with Sullivan and then both move in on BCFC. Possible ?cafcfan1990 said:
I'm not being naive thank you. I don't trust the EFL but I think the FA are stronger. No it's not Sullivan's current account but it is a company he clearly owns, he's not trying to hide it. I have no doubt Sullivan will easily be able to take control of Birmingham's assets similar to the Roland comparison you make. Anything further will be blocked IMO.ShootersHillGuru said:
It won’t be Sullivan transferring the money out of his current account though will it. No doubt a vehicle company will be in place to make the loan and take ownership should the terms of the loan are not met. I have no doubt that if Sullivan wants this to go ahead it will. Thinking there are not ways around the inadequacy of EFL’s rules is very naive.cafcfan1990 said:
The EFL rules go further than just owning two clubs though. Also means someone can't be involved in certain affairs and there are also rules on lending/gifting money/guaranteeing debts.ShootersHillGuru said:
It’s overwhelmingly certain that Sullivan has getting his hands on Birminghams real estate at the forefront of his decision to loan Bassini the money but even if Bassini defaults on the loan, Sullivan wouldn’t own BCFC any more than Duchatelet owns Charlton right now. The issue of owning two clubs doesn’t arise.Hartleypete said:
Sounds to me like a purchase by Sullivan via the back door. He can’t own two clubs at once and he can’t sell WHU until next year without paying a hefty windfall tax.ShootersHillGuru said:
Presumably because all David Sullivan is here is a finance company. Nothing to do with BCFC. He only takes ownership of the real estate should the finance terms not be met. Security for his loan if you like.The Red Robin said:
Football is f*cked. How is that even allowed?clive said:EXCLUSIVE: David Sullivan is funding Laurence Bassini's proposed £35m bid to buy Birmingham City - and West Ham owner could regain control at St Andrew's if prospective buyer fails to repay £33m loan
https://www.dailymail.co.uk/sport/football/article-10802831/West-Ham-owner-David-Sullivan-funding-Laurence-Bassinis-proposed-35m-bid-buy-Birmingham-City.html
So he loans Bassini money to purchase Brum now and will effectively take it off him next year when Bassini can’t pay the loan repayments just after he flogs WHU, simples.0 -
Gold and Sullivan sold BC for £81.5 million. If they sell WHU they’ll make a huge profit. Owning Birminghams stadium and training ground would give them good leverage to oust Bassini if it him that still owns the football club. They effectively get BC for peanuts making profits all along the route from owning BC to buying WHU to getting BC back again. Luvvly jubbly.cafcfan1990 said:
Possibly. I don't know why Birmingham are only going for 32mil, I'm guessing it's due to debts. Allowing Bassini to take control risks the future of the club, are the assets going to be bring much profit? I doubt it.ShootersHillGuru said:
Well I’m sure Sullivan knows how to trade this deal so that he makes a good few million profit.cafcfan1990 said:
It's possible defendant on the original deal with Bassini and Sullivan's companyShootersHillGuru said:
So assuming this goes ahead and Bassini defaults on the arrangement. Sullivan then takes Birminghams real estate into his ownership. Sells his share in WHU to David Gold in a friends arrangement where Gold then puts WHU up for sale and when the Hammers are sold he shares the profits with Sullivan and then both move in on BCFC. Possible ?cafcfan1990 said:
I'm not being naive thank you. I don't trust the EFL but I think the FA are stronger. No it's not Sullivan's current account but it is a company he clearly owns, he's not trying to hide it. I have no doubt Sullivan will easily be able to take control of Birmingham's assets similar to the Roland comparison you make. Anything further will be blocked IMO.ShootersHillGuru said:
It won’t be Sullivan transferring the money out of his current account though will it. No doubt a vehicle company will be in place to make the loan and take ownership should the terms of the loan are not met. I have no doubt that if Sullivan wants this to go ahead it will. Thinking there are not ways around the inadequacy of EFL’s rules is very naive.cafcfan1990 said:
The EFL rules go further than just owning two clubs though. Also means someone can't be involved in certain affairs and there are also rules on lending/gifting money/guaranteeing debts.ShootersHillGuru said:
It’s overwhelmingly certain that Sullivan has getting his hands on Birminghams real estate at the forefront of his decision to loan Bassini the money but even if Bassini defaults on the loan, Sullivan wouldn’t own BCFC any more than Duchatelet owns Charlton right now. The issue of owning two clubs doesn’t arise.Hartleypete said:
Sounds to me like a purchase by Sullivan via the back door. He can’t own two clubs at once and he can’t sell WHU until next year without paying a hefty windfall tax.ShootersHillGuru said:
Presumably because all David Sullivan is here is a finance company. Nothing to do with BCFC. He only takes ownership of the real estate should the finance terms not be met. Security for his loan if you like.The Red Robin said:
Football is f*cked. How is that even allowed?clive said:EXCLUSIVE: David Sullivan is funding Laurence Bassini's proposed £35m bid to buy Birmingham City - and West Ham owner could regain control at St Andrew's if prospective buyer fails to repay £33m loan
https://www.dailymail.co.uk/sport/football/article-10802831/West-Ham-owner-David-Sullivan-funding-Laurence-Bassinis-proposed-35m-bid-buy-Birmingham-City.html
So he loans Bassini money to purchase Brum now and will effectively take it off him next year when Bassini can’t pay the loan repayments just after he flogs WHU, simples.0 -
If getting Birmingham for around 32mil is “peanuts”, why are the current owners selling for that amount?ShootersHillGuru said:
Gold and Sullivan sold BC for £81.5 million. If they sell WHU they’ll make a huge profit. Owning Birminghams stadium and training ground would give them good leverage to oust Bassini if it him that still owns the football club. They effectively get BC for peanuts making profits all along the route from owning BC to buying WHU to getting BC back again. Luvvly jubbly.cafcfan1990 said:
Possibly. I don't know why Birmingham are only going for 32mil, I'm guessing it's due to debts. Allowing Bassini to take control risks the future of the club, are the assets going to be bring much profit? I doubt it.ShootersHillGuru said:
Well I’m sure Sullivan knows how to trade this deal so that he makes a good few million profit.cafcfan1990 said:
It's possible defendant on the original deal with Bassini and Sullivan's companyShootersHillGuru said:
So assuming this goes ahead and Bassini defaults on the arrangement. Sullivan then takes Birminghams real estate into his ownership. Sells his share in WHU to David Gold in a friends arrangement where Gold then puts WHU up for sale and when the Hammers are sold he shares the profits with Sullivan and then both move in on BCFC. Possible ?cafcfan1990 said:
I'm not being naive thank you. I don't trust the EFL but I think the FA are stronger. No it's not Sullivan's current account but it is a company he clearly owns, he's not trying to hide it. I have no doubt Sullivan will easily be able to take control of Birmingham's assets similar to the Roland comparison you make. Anything further will be blocked IMO.ShootersHillGuru said:
It won’t be Sullivan transferring the money out of his current account though will it. No doubt a vehicle company will be in place to make the loan and take ownership should the terms of the loan are not met. I have no doubt that if Sullivan wants this to go ahead it will. Thinking there are not ways around the inadequacy of EFL’s rules is very naive.cafcfan1990 said:
The EFL rules go further than just owning two clubs though. Also means someone can't be involved in certain affairs and there are also rules on lending/gifting money/guaranteeing debts.ShootersHillGuru said:
It’s overwhelmingly certain that Sullivan has getting his hands on Birminghams real estate at the forefront of his decision to loan Bassini the money but even if Bassini defaults on the loan, Sullivan wouldn’t own BCFC any more than Duchatelet owns Charlton right now. The issue of owning two clubs doesn’t arise.Hartleypete said:
Sounds to me like a purchase by Sullivan via the back door. He can’t own two clubs at once and he can’t sell WHU until next year without paying a hefty windfall tax.ShootersHillGuru said:
Presumably because all David Sullivan is here is a finance company. Nothing to do with BCFC. He only takes ownership of the real estate should the finance terms not be met. Security for his loan if you like.The Red Robin said:
Football is f*cked. How is that even allowed?clive said:EXCLUSIVE: David Sullivan is funding Laurence Bassini's proposed £35m bid to buy Birmingham City - and West Ham owner could regain control at St Andrew's if prospective buyer fails to repay £33m loan
https://www.dailymail.co.uk/sport/football/article-10802831/West-Ham-owner-David-Sullivan-funding-Laurence-Bassinis-proposed-35m-bid-buy-Birmingham-City.html
So he loans Bassini money to purchase Brum now and will effectively take it off him next year when Bassini can’t pay the loan repayments just after he flogs WHU, simples.0 -
With my sceptical hat on, it’s just just a coincidence that Birmingham host the commonwealth games this summer with the Alexander Athletics Stadium having improvements meaning it can hold 30,000 with temporary seating after the event.
Surely it can’t happen again.2 -
With bassini getting a nice "thank you"Hartleypete said:
Sounds to me like a purchase by Sullivan via the back door. He can’t own two clubs at once and he can’t sell WHU until next year without paying a hefty windfall tax.ShootersHillGuru said:
Presumably because all David Sullivan is here is a finance company. Nothing to do with BCFC. He only takes ownership of the real estate should the finance terms not be met. Security for his loan if you like.The Red Robin said:
Football is f*cked. How is that even allowed?clive said:EXCLUSIVE: David Sullivan is funding Laurence Bassini's proposed £35m bid to buy Birmingham City - and West Ham owner could regain control at St Andrew's if prospective buyer fails to repay £33m loan
https://www.dailymail.co.uk/sport/football/article-10802831/West-Ham-owner-David-Sullivan-funding-Laurence-Bassinis-proposed-35m-bid-buy-Birmingham-City.html
So he loans Bassini money to purchase Brum now and will effectively take it off him next year when Bassini can’t pay the loan repayments just after he flogs WHU, simples.3 -
Ask Britney....paulbaconsarnie said:With my sceptical hat on, it’s just just a coincidence that Birmingham host the commonwealth games this summer with the Alexander Athletics Stadium having improvements meaning it can hold 30,000 with temporary seating after the event.
Surely it can’t happen again.0 -
"Bassini having twice been declared bankrupt and forced to serve a three-year ban from EFL ownership after an independent commission ruled that he had been 'dishonest with the League and his fellow directors'."
Surely the guy doesn't even get his foot in the door with the EFL? No chance this goes through.6
