The state City were really in seems to have slipped by our business genius chairman and his advisers when he bought the club.
Eh?... What's that got to do with the Americans doing due diligence on basic corporate entities involved? As in the facts lodged at companies house that aren't even hidden. We are not talking squirrelled away debt here...
How do you know this? Walking away doesn't mean they couldn't afford it. I'm not purchasing a membership, not because I can't afford it but because I'm not prepared to enter into an agreement that has suspicious conditions, denies children, disabled & oldies a concession & because those trying to sell it to me are unscrupulous, dishonest, bullying, ignorant, thick ****s who I no longer want to do business with. The Americans probably pulled out for similar reasons.
Ok. They didn't want to pay the asking. I accept the wrong use of a word. As for junior lawyers, are people stupid? I said anyone can spot corporate structures and see there are more than one listed business entity involved. Spotting hidden debt and interests is a completely different thing. The Allams didn't miss out on the simple things, and neither would the US buyers. They would have known the SMC existed, and it wouldn't have been a fact they missed. I can say that with almost certainty as it's the first Ing companies house would have thrown up on a simple director search. Which any of us can do by Google.
I'd bet they did know the SMC existed. I'd also bet they've looked at the books. I'd also bet they knew Papa **** was trying to offload the SMC for a quid as early as last year because it's a worthless bag of ****.
My logic is flawed? He wanted to offload it in March last year for a quid. He is quoted as saying "The council can have it (the SMC) for £1, have it for the community. The whole site was meant for the community but the SMC loses money every year. The arena loses £250,000 every year." £250K loss, every year, just on the Stadium, & that's with supersonic, world beating business men in charge. If Papa **** is to be believed the SMC has lost another £330K since then. My logic tells me it's now worth less than a quid.
I maybe wrong, but I seem to recall reading that AP received as much for the SMC as he did for the football club when he sold up.
You said it was worthless. It isn't when it's part of a bundle. I didn't allege your facts were wrong, just your silly conclusion.
In which case, I wonder why the Americans didn't just buy the club, and leave the burden of the SMC to the Allams?
It's been said. The Allam's were acting like ****s, as is the norm. Pushed them too far, so they ****ed off. It's something the Allams excel at. Keep your eyes open for 6000 missing season ticket holders who have done the same.
If you bought the club would you leave yourself in that position? I think it would be absolute madness.
Ehab's comments from last night... Latest position is I've suspended all talks until after transfer window closes, would get very messy trying to deal with transfers and negotiations at the same time, sensible decision to take. Not seen it but this is apparently from his Sky Sport show last night.
We'll find out in September whether they've walked away or Ehab will start talking to them again. The basic principle applies if they can afford to buy us outright why the staged payments? If they can't afford the full price where is the difference coming from?
