Takeover (Covid-19/20)

[Rum & Black for 2]

So then...

We're honestly not in terrible shape guys. 13th place, developing team, solid base to push on.

It could be worse, honestly. Plus, I actually have more faith in Ashley than i did 12 months ago.

Drinking already. Disgraceful.

I actually feel sorry for Ashley - he wanted to sell up, he found a buyer and the deal was essentially ****ed by the PL. Just hope he realises that if he wants to sell still he needs to ensure we stay up. Nobody will be buying Championship clubs for decent prices in current climate.
Ownership by a sovereign entity was not a problem with City or PSG but now they think it is an issue.
The only sad thing about the buyers pulling the plug is that the PL now dont have to give an explanation for why they wouldn’t sign off.

Also been drinking. No-one has ever said that before.

 

[Fox Mulder]

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Passed caring..

I'm starting golf again

 

[haslam]

You do talk some bollocks - many of the oil countries have sovereign wealth funds. Their purpose is to try and reduce reliance on oil and support the country when the oil runs out. It wasn’t set up to buy Newcastle - they invest in all sorts of businesses. Problem is its like a pension fund, it has a board of executives but they are trustees like with a pension fund. It belongs to the country. As reigning sovereign bin Salman of course is in control but he is not the owner. Its ridiculous to think that the king of country would be exerting control over a football club.

Pretty much every take-over is handled by a specifically incorporated investment vehicle nowadays. The club @astro supports was bought by FSG (a sports investment group) through subsidiary, "N.E.S.V. I, LLC" (incorporated in Delaware) and UK based holding company "UKSV Holdings Company Limited.". It's absolutely standard so his comment missed the mark.

The idea behind his comment though - that this particular investment vehicle was set up solely to put some distance between the state itself and it's investments - is true though. I mean all investment companies are set up for that reason really, it's just that in this circumstance PIF was a state owned company putting itself forward as something else. We all know that really, the PL were calling it out for things they are meant to call it out for. My issue isn't the PL for failing to allow the takeover, my issues are why it took so long and why other clubs are allowed some very questionable owners to pass the test. Overall though I'm neither surprised nor emotionally invested in this.

 

[Fox Mulder]

Well that's me ill see you all for the next one..

 

[Prince Isak (GG)]

I have to say I am totally fed up with nufc now. The fall out may be quite interesting. There’s going to be some finger pointing that’s for sure.

Time to let this thread go.

 

[jimileysbaldhead]

Does this mean I've got to convert my camel sanctuary back to a pigeon cree?

 

[haslam]

I have to say I am totally fed up with nufc now. The fall out may be quite interesting. There’s going to be some finger pointing that’s for sure.

Time to let this thread go.

Honestly, I should be a moderator on here. I'd tidy this right up!

 

[jimileysbaldhead]

I have to say I am totally fed up with nufc now. The fall out may be quite interesting. There’s going to be some finger pointing that’s for sure.

Time to let this thread go.

Nah....it's been a great thread. It's been instrumental in Mick O'Toon and my goodself getting the freedom of Doubtsville.

All hail the doubt...

 

[Prince Isak (GG)]

If PIF go and buy another PL club then that will
Be some serious **** going on.

Something is rotten to the core in all of this. It’s disgusting.

 

[JakartaToon]

Pretty much every take-over is handled by a specifically incorporated investment vehicle nowadays. The club @astro supports was bought by FSG (a sports investment group) through subsidiary, "N.E.S.V. I, LLC" (incorporated in Delaware) and UK based holding company "UKSV Holdings Company Limited.". It's absolutely standard so his comment missed the mark.

The idea behind his comment though - that this particular investment vehicle was set up solely to put some distance between the state itself and it's investments - is true though. I mean all investment companies are set up for that reason really, it's just that in this circumstance PIF was a state owned company putting itself forward as something else. We all know that really, the PL were calling it out for things they are meant to call it out for. My issue isn't the PL for failing to allow the takeover, my issues are why it took so long and why other clubs are allowed some very questionable owners to pass the test. Overall though I'm neither surprised nor emotionally invested in this.

They are not really set up to distance the state from the investments except in that the idea is to recognise that oil wealth will not last forever and to provide long term state revenue - Norway has one, Timor Leste, PNG, most of the Middle East oil producers. They are considered ideal investors as they are not looking for short term profit but long term value build.

 

[Prince Isak (GG)]

Nah....it's been a great thread. It's been instrumental in Mick O'Toon and my goodself getting the freedom of Doubtsville.

All hail the doubt...

I was always on the doubt train but wanted it to happen. That’s the reason why I’m not saying much about what my feelings where. There’s something really odd about this whole thing.

Even still I can’t help but think there’s an ending in this we may like. Ashley will sell. What to or who to I don’t know.

 

[Prince Isak (GG)]

Some folks are saying Ashley tried to move the goalposts again. Saying that he had another offer and SA just pulled out.

Man I’m sick of this bullshit.

The club is totally dead.

 

[Mick O'Toon]

They are not really set up to distance the state from the investments except in that the idea is to recognise that oil wealth will not last forever and to provide long term state revenue - Norway has one, Timor Leste, PNG, most of the Middle East oil producers. They are considered ideal investors as they are not looking for short term profit but long term value build.

True enough,PIF took a share in a music promotions company a few months ago with no fuss albeit bad timing!

 

[Mick O'Toon]

Some folks are saying Ashley tried to move the goalposts again. Saying that he had another offer and SA just pulled out.

Man I’m sick of this bullshit.

The club is totally dead.

That wouldn't surprise me tbh I may as well say it, it's not looking good.

 

[Fox Mulder]

It's back on lads

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[jimileysbaldhead]

I was always on the doubt train but wanted it to happen. That’s the reason why I’m not saying much about what my feelings where. There’s something really odd about this whole thing.

Even still I can’t help but think there’s an ending in this we may like. Ashley will sell. What to or who to I don’t know.

To be honest mate I was desperate for it to go through, however I've been disappointed and felt let down as a fan and football supporter so many times over the last 50 years or so, I'm now pretty sceptical about most things that may bring a hint of positivity to NUFC.

 

[Fox Mulder]

Just reading they planned to invest mny millions into the area of Newcastle...

I feel sick now.. Football to one side.. Thats the real tragedy in this imo

 

[Rafman]

I said it ages ago. If the Ruben's were so bothered, why didn't they buy us with Staveley.

 

[Sheikh_of_Araby]

Wtf is going on?

 

[astro]

Pretty much every take-over is handled by a specifically incorporated investment vehicle nowadays. The club @astro supports was bought by FSG (a sports investment group) through subsidiary, "N.E.S.V. I, LLC" (incorporated in Delaware) and UK based holding company "UKSV Holdings Company Limited.". It's absolutely standard so his comment missed the mark.

The idea behind his comment though - that this particular investment vehicle was set up solely to put some distance between the state itself and it's investments - is true though. I mean all investment companies are set up for that reason really, it's just that in this circumstance PIF was a state owned company putting itself forward as something else. We all know that really, the PL were calling it out for things they are meant to call it out for. My issue isn't the PL for failing to allow the takeover, my issues are why it took so long and why other clubs are allowed some very questionable owners to pass the test. Overall though I'm neither surprised nor emotionally invested in this.

The examples you give are set up for numerous investors to group their money together and buy a club while limiting their own legal exposure.

The Saudi fund has a single source of funding and ultimate control as you describe, and they were unwilling to admit that to the PL when asked to clarify.