Ah okay, RTG has ALS on their logo so I thought they were the same thing. Going by this pic I was wrong please log in to view this image
I thought DD normally took place after an offer had been accepted and was to verify the information presented by the seller to the buyer? It's probably more likely that there are several people going through the club information prior to making an offer,which,if accepted,would then lead to DD? Or,am I just a thick fan who knows nothing?
I am just a thick fan fed up of the whole thing mate. Just about to haul in the biggest opportunity this club will ever have and somehow SD manages to **** it up. I'm sick to death of listening to his droning voice, his meaningless quotes and him taking every opportunity to tell us how good we have been, and still are, financially. He has about as much muscle as Pee Wee Herman. I know deals fall through all of the time, but this was more than that. he even said so himself. Ashley's deals do but at least he has the grace to shut his trap and not feed bullshit what he thinks the hordes want to hear
Doesn't have to be accepted, no. It's designed to help people understand the price of a company or entity by going through it's liabilities and assets. My mrs does the tax side of that, for example, so she works out what the current tax liabilities are for a big company, then the buyer/seller is told about them so they can evaluate if they want to proceed with the deal, if price amendments are needed, or if they want to pull out. For a seller sometimes they haven't got a clue about their own liabilities Just saw a 250m+ deal fall through because they couldn't agree a fee after 3 months of DD.
Spot on. I'm tired of all the half-truths and maybes that have characterised all this from the start. The cloak and dagger stuff does nothing but fester suspicion and is completely unnecessary. It is perfectly possible for us to be given the truth about what's happening, without betraying private confidences,but those involved seem incapable of doing it.
Yes,but you say yourself " if they want to proceed with the deal",which indicates a deal has been struck subject to confirmation of the financials etc.upon which the buyer has based his offer. Is that not so?
When was he on? Radio Newcastle? Actually just read back and it was just an update from Simon Pryde I think
It means they want to buy the club or some shares in it and need to know if that's going to mean spending x, y or z. In this case, they may have a broad idea of price from the owner and be happy to proceed because it's in the ballpark of what they'd like to spend. A good example of why you don't agree the fee beforehand is Donald himself. He was still going back to Short 6 months afterwards asking for cash to settle liabilities because he didn't do proper due diligence before he agreed his deal. Absolute lunatic.
For something so important it hasn't been handled professionally. Donald and Methven thought their masterplan had come off and got carried away. They informed the fanzines, introduced 'the new owners' to Ross, tipped off the BBC, etc. All they had to do was keep their mouths shut .... .... a lesson Donald still hasn't learned.
It would have been better if Donald had just kept his trap shut about the whole thing, then there would have been nothing to get suspicious about. He was trying to do the right thing by being open, but when things don't go as expected he just looks daft, and people think the worst.
In hindsight you're probably right. People can't be blamed for thinking the worst when nothing they're being told makes any sense. We're now being led to believe that there are several entities carrying out due diligence at the same time,all of whom have presumably agreed some kind of ball park figure acceptable to Donald, and all of whom he presumably has satisfied himslf have the resources to meet the cost. The accounts office at the Sol must look like Waterloo station with all those accountants and lawyers crawling in and out.
This is it. I don't think he's a bad bloke, I think he's just got overexcited about stuff and let stuff slip out one way or another and it's not helped anyone, him, us, or whoever wants to buy the club.
Think we are stuck with him for sometime, it ain't going to get any better, probably worse unless we go up.
Yeah, quite possibly. I certainly think the adulation that he thought he'd get was a bigger motivator in getting involved with the club than any profit he might make.
