If the deal goes tits up can we use the deposit for a new centre forward? Or will Ehab buy a silly Lego car?
It really doesn’t matter who the club has given exclusivity too. It cannot disclose. To be honest I don’t even think it is important who the deal is done with yet. What I think is important is that a deal looks likely to be in place. The terms will have been agreed and now it is down to last few hurdles.
You bugger. I don't eat meat ..... but now my mouth is watering at the thought of a donner!! Jeez, I'll be tempted.
The deal has essentially been agreed - the period of due diligence is there for the buyer to determine whether the Allams have been telling the truth about the company's financial and contractual commitments - what could possibly go wrong
Unfortunately you can’t have it both ways. Exclusivity can be given without any monies being exchanged. A written undertaking can can be lodged, that states should the buyer withdraw without good reason the agreed costs, expenses and losses will be paid. Unless there is sight of the terms and conditions of sale all of this is speculative. Mind you I specialise in sales of distressed businesses so I see all sorts of off the wall deals being made.
It felt like the statement was put out to give the fans some understanding of why Grant hasn't been sacked. I can't recall the Allams making a statement on a potential takeover before (there was probably one about the failed directors test). We must be way down the road on due diligence too because seen a few places saying it usually takes 2/3 months. If it does, Acun will be buying a L1 club & it'd make no sense why Grant hasn't been sacked.
Of course I'm talking balance of probabilities, and with anything there are caveats especially with 'distressed' businesses or administrations - but there's nothing to suggest City is one of those. Additionally we can look at the way the Allams have attempted to conclude previous sales - which included a non-refundable deposit for exclusivity. Why would this be different? I also have reason to believe a non redundable deposit was indeed paid last week for the aforementioned exclusivity. But that's a separate issue and may or may not be correct. Why would the Allams just grant exclusivity for nothing? Its not (yet) a failing business and there are other parties showing interest. They now have a set period of time to conclude the takeover.
