I think you may be being fed a few lines, Magnus. What with this and the takeover being with the EFL. Or on the flip side they could both coincide and the old Covid has put both on hold. I don’t know what to believe anymore, but I am a pessimistic ****e and can’t see an end to this. Stewart Donald, IMO, thinks he can finally get a promotion under his belt and will hang on for as long as he can
Not sure that its just SD hanging on which may be why its taking so long. Think people are forgetting if its a full takeover then anybody involved will also have to get shares of CM and JS think SD has 74% JS 20% and Salmon Pants 6% so maybe a bit more negotiating and not as straight forward as it seems on face value. Also I think you have to own 75% of club shares to force a takeover but that could be wrong
There was a 90% forced buyout in place for the Drumaville takeover but that was stock market rules. Not sure if anything like that applies for private companies. Plus do we know if Sartori got 20% of the club, or 20% of Donald's shares when he came onboard. If it was just 20% from Donald's shares I think Donald might still have over 75% anyway (if it turns out that that matters for buyout). But you just need over 50% for full control anyway, is that right?
I dunno myself mate, like I say I’m a pessimistic twat and this is one of the most important times in the clubs history. It just has to go our way, because everything else has bloody transpired against us and the other option doesn’t bear thinking about
As supporters, we certainly deserve better than what we've had to put up with for the last few years. I'm a realist so don't expect a brilliant team, but we have been utter ****.
Agreed. To me there are a few factors that need to be looked at about Donald clinging on to get a better price if we're promoted 1) promotion is not a certainty. The last 2 years have shown that 2) no guarantee that this season won't either be curtailed or voided. Just with the salary cap and last seasons curtailment, enough clubs could vote for their own self interests and end the season early if their finances cause it. 3) since day 1 he's said he'd need more investment if we go up, so any potential investors/buyers are going to know he's going to be even more desperate to do a deal rather than risk the club dropping like a brick back down and wiping out even more of its value to him and he cant fund it himself 4) he knows how hated he is. Even if we're promoted he still risks a huge backlash from the fans, with potentially much smaller gates and match day revenue if he still clings on. Average gates of 23-26,000 in the championship compared to 30 - 31,000 in the division below are going to look bad and won't attract as generous sponsorship and corporate deals and will bring the wrong kind of attention and storyline to the club. To me, he really must see that this is probably the best opportunity for a beneficial sale now as the risks of it going wrong and him seriously losing out are far too great
I see that a few clubs have changed hands recently. Possibly not for the type of cash it might take to buy us, but people have still moved in on clubs. Are they mad? Must say it baffles me, the idea of buying a business that is basically prevented from trading. I usually know bugger all, so in our case let's hope that normal service prevails!
No external party can force the takeover of a private company.. only a majority shareholder with more than 75% can sell it without the permission of the other 25%
Not talking about external but can an internal shareholder with 76% force the aquisition of the remaining shares?
Also has SD has goofed a bit if he did a deal with Sartori that left him with just less than 75% control over a future sale?
seems a wee bit daft but then, we have no idea when the process to aquire these clubs actually began, quite possible it was pre-covid and as with most things it has been handled by far less staff (i was meant to have a statutory 6 month surrender of license, took over a year to get it back)...just really hard to even guess the delays that will have built up so i am kinda hoping that each further purchase pushes our 'deal' towards the 'in tray' to be sorted.
