Takeover (Covid-19/20)

Most of Twitter is deluded, tbf!!

I'm torn on the whole subject. On the one hand I do think there was fear and unhappiness from the cartel, and probably most of the league, about allowing KSA wealth into the league. Makes it hard for a lot of clubs, effectively bumping everyone down a place and, critically, breaking up the top 6. On the other hand, an organisation as public facing as the PL surely, surely can't be complicit in any deep wrongdoing. If facing the true might/wealth of KSA, you'd imagine it would be made impossible to refuse the investment. KSA could easily set up a separate entity and just copy Mansour, it would pass with ease and be done. Yet none of this happened, and of course the Twitterati chose not to focus on the strangeness of this, instead focusing on the idea the PL are rejecting it out of fear.

Now things have calmed down, I probably sway towards two things - first, that PIF weren't that deeply involved and pulled out as they described, as it was (and is) looking like football wasn't worth the investment. Second, I think Amanda Staveley is withholding parts of the story. I don't think £300m, in a market that is depreciating rapidly and that suffers greatly during a pandemic, is anywhere near the right price for the club, which is why Mike's possibly considered legal action. He should have got out when he had the chance 2 or 3 years ago, but a combination of obstinance, greed, ignorance and outright stupidity had him twist instead, and he's now lumbered with a club he doesn't want whose value is absolutely plummeting. He isn't going to get £250m for it now, so we're stuck in limbo yet again.

There's no solution to the Ashley problem. He isn't going anywhere at £300m.

 

It's still with the premier league ffs man

 

Aye. Nothing important. Still, some on twitter are trying to make something of it.

 

It's just a matter of time now lads

 

You'll see

 

Technically isn’t everything?

 

That's true yes.

The takeover isn't far away...

 

Lol what ****ing dogshit.

Ok let’s appoint two top dollar legal experts, but tell them to do nothing, don’t start anything... let’s just say on your marks, get set... so they’re ready, but we won’t do anything legal yet, just in case Richard Masters holds his hands up and says “Ya got me”.

 

Are you suggesting the premier league have made a decision

 

Any legal action would be preceded with a Letter before action that spelled out their supposed case. The PL could spin out responding formally to that for up to 3 months depending on the level of detail within it.

Mediation would then be the most sensible course, which again would likely take months.

Then failing a settlement, court proceedings could be issued.

 

We will just have to wait and see.

 

What’s your take on the seller, rather than buyer, raising the legal stakes?

 

Dunno mate, it depends on what his end goal is. Is he after damages, finding a resolution that could see the Saudis come back or merely making a point about the process as he’s pissed off?

I find it odd that he’s stated publicly they rejected it, whilst the PL strongly refute that and claim the Saudis walked off before satisfying the issues they’d raised about the ownership structure.

I also find it odd that the buyer chose not to either take the offer of mediation or take it legal themselves if they were fully committed.

I didn’t mean to reply here btw, Captain posted the exact same thing on the PL board thread lol.

 

This is Mike Ashley we're talking about.

He's not looking for them to admit liability or approve the takeover. He's expecting them to settle for a few million to avoid the legal fees and reputational damage of a protracted court case.

He'll ask for £10M, get about a million and laugh all the way to the bank.

 

Think you are wrong here.

He wants us sold.

 

I agree he wants us sold, but I think this particular sale has fallen through and Ashley is trying to rescue what he can from it. It's how he does business in other areas.

 

He's already scored 17 million and it's reported that this is about getting a decision one way or the other and then going from there... Some sport law people have been very clear in backing up those reports saying it's the only thing worth persuing...

 

Not aware we have one. I'll chat about legal areas I used to work in as a former solicitor but I'm not HIAG, I wont just piece together stuff I Google and make out like I'm an expert in them. Never handled mergers/acquisitions or this end of corporate/ commercial law so your guess is pretty much as good as mine.

(well apart from me having had a lot of experience of reading legal documents and a background knowledge of contract law but that's like someone trying to explain a degree level subject based on a GCSE you once got).