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sad-eyed prophet
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Not as a third division club anyway,for the money Donald was asking. Think that seems clear.
FPP to take full control
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Not as a third division club anyway,for the money Donald was asking. Think that seems clear.
So why did they register a uk company if it wasn’t a buy out, we don’t know why it didn’t go through maybe the goalposts were moved. Do you actually know what the word “fantasy” means.
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Worth considering that they set this up to do the Southampton deal. I can't emphasise this enough, the UK company is a necessary part of any deal, whether it was a loan or not. They would not be advised to do anything (due diligence expenses, VAT on legal fees) via their LLC and incur much more convoluted tax issues in the states.
I think again, the most likely scenario is that they wanted to do exactly this type of deal that they did with us, were going to do with Derby, and have eventually done with Southampton.
Donald looks as if he tried to convince them during the negotiations to do the whole lot, but they said no because this is their preferred way of doing business. In the meantime, he'd got carried away in his usual over-excited blabbermouth mode and told all and sundry that they were potential new owners, that he may or may not be around etc. Then when they said they still just wanted to do the loan, he has been left with the perception that something he did put them off a full scale deal.
I think the Saints deal is a pretty clear indication that it's far more likely that this is how they would prefer to deal with football clubs.
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sad-eyed prophet
Guest
But why would they want to loan money to football clubs? They can make much more from the S&P Futures in an afternoon than ever they could out of a club like us,or Southampton? I don't get that?
Because it gives them a right of first refusal if teams do well, with no risk in the short term if things go tits up for any reason (like if Southampton got relegated). They do the due diligence to make sure the club is currently worth taking on as security in the event of a default and to get a feeling for future projections in a 'good' scenario.
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I've said a few times, in my opinion the £11m money owed to the club and the 9m loan was to provide a £20m pot on promotion to the championship and give us a fighting chance of staying up. Hence why the loan sat there.
He might be using it for Covid survival now through covid of course.
I personally don't think FFP really care what happens to us. They have a mild interest, hence the loan, but I imagine that they won't be too interested in the sale as long as the loan is repaid.
If they were that interested they would have bought us a long time ago. They seem to be sniffing around a few clubs but not taking the plunge. Clearly too much hassle for them.
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sad-eyed prophet
Guest
Suppose both us and Southampton default for whatever reason...league rules would prohibit them taking over both clubs......what then?
I’ve had a chat with mesell and now accept its won’t happen, it was, but someone and something spooked them imo.
People say you get more chilled as you get older, these jokers are putting me blood pressure through the roof with their petty ineptness and circus behaviour.
They won’t get another penny out of me till they have all gone.
People say you get more chilled as you get older, these jokers are putting me blood pressure through the roof with their petty ineptness and circus behaviour.
They won’t get another penny out of me till they have all gone.
They have the option to do what they want with either club while both remain loans, but converting either of those loans to shares would - as you rightly say - impact how they deal with the other.
The misconception is that they are legally obliged to take us over if Donald defaults - that's not true. Nobody can force them to do it if they deem it a failing business. They have a 2 week window to exercise that option with us after a default and they have an unlimited option to do so with Southampton, but they can choose not to do either if they want. If they exercise either option, it will mean (given the director conflict of interest) that they can't, as things stand, do the other.
For example, if at the end of the 20/21 season we were losing a substantial amount and in a decline, they would probably say no. The flip-side is that if Donald somehow defaulted with promotion secured, and Southampton had been relegated and were sitting mid-table in the Championship, then it might be a different conversation.
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sad-eyed prophet
Guest
Whilst they may not be legally obligated to take the club over in the event of a default, surely that is the basis of the security for their loan?
S
sad-eyed prophet
Guest
It must be that the companies loaning money to us and to Southampton are completely separate entities and are able to show they have no connection to each other.
It is - at the point of doing the deal. They do the due diligence to make sure there isn't a hidden gremlin in there that would nuke the value of their security 3 months later. Unfortunately one of the problems is that for Donald to default, the club realistically needs to be in a cataclysmic state, so it's catch 22 and probably dependent on how bad things get. The worse they are, the less likely they would take us on - especially with Southampton now looking like their main bet.
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sad-eyed prophet
Guest
Surely,the security is there at the point the deal is done,and thereafter for the duration of the loan,until it is repaid. Where does 3 months come in?
The MSD directors are directors at both - only Fuhrman has left MSD, so there's an outside possibility he'd go alone, but I'd say that's highly unlikely because of the high risk nature of it and the way MSD have gone elsewhere.
Yet to see anything that materially makes them likely owners over the last 7 months with us in League One. Every detail that comes out, every moment of inaction, every change at our or their company, none of it implies that they are actively pursuing a deal for us at this stage.
So due diligence and the asking price/inflexibility has never had any influence on whether this happened or not?
Billionaires do not become billionaires by spending a penny more than necessary. Especially when it comes to footballing vanity projects.
But why do you think they did almost this exact same deal with Southampton?
There is more evidence than not that this is how they want to get involved with football over here. The only reason we are discussing a potential takeover is because Donald got ahead of himself when he asked them to buy the whole lot up front.
You are totally wrong. I was told this was as close to being a done deal as it was possible to be at one stage by someone who definitely knew. What then went wrong is hard to fathom.
Literally could only happen to this football club.
You just know we're now going to end up with this Campbell fella.
You can say the same thing as one other person, but it doesn't change that what has happened with us, Derby and Southampton contradicts that. Donald is even saying publicly that they haven't made a bid ( a bold move from someone trying to engineer a sale to them and court goodwill), and when he put us up for sale, they were nowhere to be seen. They dissolved their UK company and haven't been mentioned by Donald or Methven as an active buyer of the club since Q1.
If this person was as close to the deal as possible, they would know what went wrong.