https://www.chroniclelive.co.uk/spo...lands-martin-bain-takeover-situation-14571133 Bain again confirms that a number of parties are looking at the club in a "meaningful way" and states that Short has ruled out the possibility of administration.
Asset stripping. Charlie Hurly Center being sold to a property developer with the bank we owe money to involved. Not sure what all that means or how it affects negotiations, changing the horizon as you negotiate seems complicated, why not leave it for the new owner to sell? Offloading land while negotiating just seems daft and sure to annoy potential buyers, I would if one day I'm negotiating for a club that looks like (A), only to go in for the next round of negotiations to find the club looking like (B). Could be a case of Ellis realising he can't palm the bank debt off. Who knows, but it's all looking messy.
I stated on here a good few months ago that ES had sold the AoL. The way things are I still feel that may be right.
If it wipes out some/all of the SBC debt then I don't see how it's a bad thing? Unless I'm totally missing something
Does this news about the Charlie Hurley Centre point to that rumour being a little bit of crossed wires and they heard "the old training ground" was getting sold. I see no scenario where the AOL would get sold other than the club folding altogether
It could be crossed wires as Parker said if the rumours were related to "training grounds". No way on god's earth would I see the AOL being sold off. Its got to be one of the highlights of the overall package for sale. And I'm also with Parker on how is this a bad thing? If we're selling off an asset surplus to needs, of no benefit to the future running of the club, which wipes off a substantial part of the bank debt, and makes any potential sale more attractive, where's the downside? I know I'm not aware of the full facts, like almost everyone else, and also probably very naive to all of this, but I don't get what the potential problems are to this move. @Brian Storm you're more clued up on stuff like this and you say its looking messy. How come?
I no now but IMO There is one think for certain Short thinks nowt of our club He just thinks and wants money Weather it’s selling loaning buying or stealing His life is about money only money
Makes me think of that interview he gave . Claiming he was a fan like us . Don’t think we believed him at the time-,certainly not now
If. Exactly. Call it a valid lack of trust in a **** house who is refusing to **** off without keeping his fingers in the pie.
Cause it looks like he wants to keep his fingers in the pie and I don't trust the ****. The new buyer could easy sell the land when they got it too, why does it have to be Short selling it? For all we know we've lost the other interest cause of the **** and now he's in a stage of selling assets to meet our loan payments. Just don't trust him, he's done nowt to gain my trust.
It is possible of course but it was a few months ago when I heard this from two different sources who I believe to be knowledgeable enough to know the difference
Selling off assetts to reduce the debt is sensible if they are not useful assets and if it isn't simply going to lower the value of the club to the point where buyers no longer have an interest in it. It reads to me that Short is playing his plan B out here, trying to make the club sustainable for if no sale goes through - administration is not an option. From a business point of view it would be remiss of him to simply hope that someone is going to buy the club. I guess that he has to plan for the eventuality that he may need to continue to run it as a going concern, and from a fans point of view the comfort in that is that he is trying to make sure that the club neither gets a points deduction or goes to the wall. He really has orchestrated a clusterfuck over the past few seasons.
South Shields F.C. won the league after winning 4-0 at Radcliffe on tuesday, then moved onto 100 points tonight by beating Kendal Town at home 5-0 . . . . and it was mint The last match of the season is at home against Colne on sarrada, which should be very enjoyable with an atmosphere that will be much better than what we've become used to . . . . reminiscent of days gone by for us, perhaps If only the good news was about S.A.F.C.
Alan Nixon the journalist and most active around on any takeover rumours etc said yesterday that were was an international group here on Wednesday being shown around but didn't have much detail about them. Also said Pearson is still interested but needs more money behind him if he's going to make a move. A chap on twitter who claims to have a "source" has said that the local consortium led by the Obrien's has collapsed after his backers got cold feet
