on Saturday Cellino had a meeting agreed for after the game with a prospective buyer ( it s someone we know wants to buy us, or at least wants to be part of a consortium). Cellino kept them waiting for hours after the game, spouted plenty of bullshit and then asked for £5mill (presumably none refundable) before letting them have access to the books to do due diligence. I am not going to divulge my source but this has been told to me in good faith and I swear that on my kids lives. Apart from Cellino being a **** (which we already know) it provides more evidence who has a cash flow problem.... We need this **** out of our club ASAP.
So I take it, this prospective buyer didn't stump up the 5m to look at the books. Doesn't sound very serious
Normal procedure you want to see the colour of their money before handing books over and ensures they are not just time wasters probably not refundable but would be deducted from the price if they bought the club 5m does seem however a bit steep
Cellino was quoted £250k when he wanted the books, he then said never mind and didn't bother. Because he is a cretin. Usual fee is 1-2% of the selling price.... £5mill would get you access to the books of scum and citeh.....l
Again, an unsubstantiated rumour. Do you want credibility? Or do you want to be known as the Cellino-hater that comes up with lots of fairy stories? Let's suppose this particular incident hppened, and your source did tell you this in good faith. Have you considered that there may be more to the story? Perhaps there was a reason for Cellino not turning up. Perhaps the 'buyer' had to do something before the meeting could happen - proof of funds etc. There are so many reasons why Cellino might have been right to not meet with this guy. It's been a feature of our club to have 'buyers' that haven't a hope in hell of raising sufficient funds over the last 12 years or so. So some big questions: - had your buyer already provided proof of funds and made an appointment? - is it reasonable to assume that Cellino would arrange such an important meeting for immediately after the match - his busiest time of the week? - did your buyer simply turn up in the hope that he might be able to grab 5 minutes of Cellinos time? - are you surprised that there was a £5m charge to look at the books? - was the £5m a fee for looking at the books or for looking at the books with exclusivity? - was this £5m charge refundable on purchase of the club? - was Cellino given sufficient grounds to think that this guy smelled like another time-waster? The list goes on. You've provided a snippet of damaging allegations without checking the veracity of the story with a few simple questions. As your story stands at the moment, it is not information - it is most definitely a smear. The club can do without that.
Don't think you'd get near scum or city's books as the Chinese paid 218m for 13%. I welcome the fact he's holding out for a good wad. At least if a proper prospective owner does appear, he'll have cash. I'm not interested in anything other than someone who'll plough tens of millions into the squad
All bluster. Cellino had agreed to the meeting and the time it was due to be held, the guy and some of his backers had even had a box at the game. They came with an agreed purpose and frankly to keep to keep someone who is even considering buying a club that you are secretly trying to sell waiting for hours is if nothing else unprofessional and ill mannered. This is our club Cellino s representing as he behaves like a rank amateur. Giving Cellino the benefit of the doubt even if he had discovered the "buyer" was potless the politeness of turning up at the time agreed costs nothing... The reality is that he has pissed off one of a small number of possible future buyers for no reason. It would have taken Cellino five minutes to come out of his ivory tower shake hands and say he had changed his mind AGAIN. Politeness in business brings its own rewards..... Sorry mate I can't divulge my source but it did happen...
If true (if - keeping WJ happy) then the potential buyers should know what Cellino is made of, what he is all about and why so many fans want him out. I would imagine the arrogance of showing up late must have been half expected. Why was the fee for seeing the books not enquired about at the time of arranging such a meeting? It obviously wasn't a 2 minute call if the prospective buyers were given a box. Although the fee sounds extortionate you know you're not dealing with a normal businessman, I would expect to be pissed around no end by the man while Leeds look safe. The best time to try and buy would be when we are rooted in the bottom 3 hence part of me wishing we had not won. I think they would see a different and more amenable Cellino if that were the scenario.
Spot on and was going to post some of that. If they're even half serious, Cellino being late won't deter them otherwise they were a watery outfir
They havent walked away. But they are a bit pissed off. This is serious business and he behaves like a cock.....
In all honesty would you give Cellino any of your money up front for anything i also think anybody that does DD will not touch the club with a barge pole. Only chance he has of selling is if another mug buys without DD maybe thats why the price was so high hoping they would say fook that and buy without it. I think you are stuck with this guy for a long time yet.(where selling to another buyer is concerned) Until all the debts.are sorted all the Bates and everybody elses ties are sorted.and the club is running self sufficient. (good luck with that) or its bought by another crook I still think and its just my opinion if you are facing relegation by January he will seek to get out of the club as much as possible any which way he can.what happens after that is anybody's guess
A serious buyer would be a good business person as well, so ok i shall forward you 5 mill, but it has to be subtracted from the asking price, and if there is no transparency or cooperation shown that the 5 mill is returned. So hard one to take on board in my eyes.
Sounds about right - Cellino paid £5M up front to GFH so he could have "exclusivity" - sounds like the interested buyer is asking for it too. Remember if he grants exclusivity, he will not be able to negotiate with anyone else while DD is undertaken, and that is likely to take over 6 months so £5M is more than fair
Interesting times. I think DD will turn out to be a nightmare and could scupper any genuine buyer from getting serious.
I do believe you that it happened. However, as I said, without fuller information, it's currently at best a rumour, and more accurately, a smear on the club which the likes of the Mirror would turn cartwheels to use. As it happens, I think hCellino's just pulled off yet another negotiating masterstroke, in the same vein as the McContract sale. He has,by his behaviour, stated very, very clearly that he does not need to sell, which is exactly what's needed to shoo off any prospective buyer that thinks they've got Cellino by the short & curlies, given his impending ban. Hs action screams out "no bargains here, matey, and we do this on my terms, or not at all". Not exactly the most polite way to do business, but effective, and as I said, IMO, a masterstroke.
I am starting to believe that Cellino is a very poor businessman who hasn't got a clue. He just has a lot of money and a good legal team who sort out the mess he constantly gets himself into.
That legal team arnt that good. He doesn't win any legal arguments. They don't care they get paid any way.
