The Key Club King Posted January 12, 2017 Share Posted January 12, 2017 The takeover is reportedly worth £50 million. They've ran at about a £15 million a year loss for the past 8 years or so. I think Fawaz took over the club without debt but must have accumulated debt to the tune of at least £50 million in that time. I don't know if he converted the debt into equity but if not that asking price is way too high for 80% of the club. Wolves were bought for £45 million and I think Mel bought Derby for £50 million and both clubs have much better infrastructure than Forest. Link to comment Share on other sites More sharing options...
McRamFan Posted January 12, 2017 Share Posted January 12, 2017 19 minutes ago, The Key Club King said: The takeover is reportedly worth £50 million. They've ran at about a £15 million a year loss for the past 8 years or so. I think Fawaz took over the club without debt but must have accumulated debt to the tune of at least £50 million in that time. I don't know if he converted the debt into equity but if not that asking price is way too high for 80% of the club. Wolves were bought for £45 million and I think Mel bought Derby for £50 million and both clubs have much better infrastructure than Forest. That is my reasoning as to why it is dragging out. Fawaz wants £50m and after due diligence its worth half that so its a renegotiation, and I cannot see the Americans paying too much over the odds. Link to comment Share on other sites More sharing options...
Sith Happens Posted January 12, 2017 Share Posted January 12, 2017 1 minute ago, McRamFan said: That is my reasoning as to why it is dragging out. Fawaz wants £50m and after due diligence its worth half that so its a renegotiation, and I cannot see the Americans paying too much over the odds. Surely they will still be buying a club with massive debts? Unless he is going to write them off. Link to comment Share on other sites More sharing options...
McRamFan Posted January 12, 2017 Share Posted January 12, 2017 3 minutes ago, Paul71 said: Surely they will still be buying a club with massive debts? Unless he is going to write them off. That is true, hence why I think it won't be £50m. If the debt is on Fawaz, then he could write it off, however I think the reason he is still in at 20% is that long term he wants all the money back, and if anyone can turn a club around its an American consortium, worked down the road. It is a how they are going to address that they lose so much money, and how to stop that. One way sell your prize assets, go into admin, find a sponsor that can burn £100m and not care. Link to comment Share on other sites More sharing options...
eddie Posted January 12, 2017 Share Posted January 12, 2017 39 minutes ago, The Key Club King said: The takeover is reportedly worth £50 million. They've ran at about a £15 million a year loss for the past 8 years or so. I think Fawaz took over the club without debt but must have accumulated debt to the tune of at least £50 million in that time. I don't know if he converted the debt into equity but if not that asking price is way too high for 80% of the club. Wolves were bought for £45 million and I think Mel bought Derby for £50 million and both clubs have much better infrastructure than Forest. How on earth is Fridgy going to find £50 million to get them to take it off his hands? I call shenanigans. Link to comment Share on other sites More sharing options...
Sith Happens Posted January 12, 2017 Share Posted January 12, 2017 must admit i dont get it, there isnt a lot of value in the squad, loads of debt...dont think they even own the ground do they? Link to comment Share on other sites More sharing options...
King Kevin Posted January 12, 2017 Share Posted January 12, 2017 4 minutes ago, Paul71 said: must admit i dont get it, there isnt a lot of value in the squad, loads of debt...dont think they even own the ground do they? No mate that's why it's called the council tip . Link to comment Share on other sites More sharing options...
Sith Happens Posted January 12, 2017 Share Posted January 12, 2017 1 minute ago, King Kevin said: No mate that's why it's called the council tip . exactly, at least we have a stadium albeit with a small mortgage on it. Link to comment Share on other sites More sharing options...
rustylee Posted January 12, 2017 Share Posted January 12, 2017 I think technically they do own the ground (stadium) but not the land that it's built on. Link to comment Share on other sites More sharing options...
McRamFan Posted January 12, 2017 Share Posted January 12, 2017 3 minutes ago, rustylee said: I think technically they do own the ground (stadium) but not the land that it's built on. Correct, the land is notts county councils, and worth a fortune. Thankfully they are massive cricket fans and 'invest' huge sums at Trent Bridge. Link to comment Share on other sites More sharing options...
eddie Posted January 12, 2017 Share Posted January 12, 2017 1 hour ago, Paul71 said: exactly, at least we have a stadium albeit with a small mortgage on it. I think Mel paid that off. Link to comment Share on other sites More sharing options...
Ellafella Posted January 12, 2017 Share Posted January 12, 2017 1 hour ago, McRamFan said: Correct, the land is notts county councils, and worth a fortune. Thankfully they are massive cricket fans and 'invest' huge sums at Trent Bridge. No. Actually and ironically, the land is owned by the City Council (even though it's in the County ) and luckily the leader of Nott'm City Council is a big Watford fan. Link to comment Share on other sites More sharing options...
gfs1ram Posted January 12, 2017 Share Posted January 12, 2017 2 hours ago, Paul71 said: must admit i dont get it, there isnt a lot of value in the squad, loads of debt...dont think they even own the ground do they? My thoughts exactly. Who in their right minds would deal with Fawaz (Mr no pay players or anyone!!) let alone pay £50m for 80% of nothing. The Yanks must be mad. Link to comment Share on other sites More sharing options...
TigerTedd Posted January 12, 2017 Share Posted January 12, 2017 So that's another day and it's not happened. Wasn't it 22nd December the yanks were ready to go? Then it was definitely going to happen this Tuesday. Seriously, how difficult can a £50m deal be to sort out? Link to comment Share on other sites More sharing options...
McRamFan Posted January 12, 2017 Share Posted January 12, 2017 34 minutes ago, Ellafella said: No. Actually and ironically, the land is owned by the City Council (even though it's in the County ) and luckily the leader of Nott'm City Council is a big Watford fan. Really, wow that is weirdly set up, I was always lead to believe it was the county, you learn something new everyday. Link to comment Share on other sites More sharing options...
Rev Posted January 12, 2017 Share Posted January 12, 2017 49 minutes ago, eddie said: I think Mel paid that off. Last I heard, it had been remortgaged on more favourable terms. Seeing as he could easily pay it off, there must be a good accounting reason for not doing so. Link to comment Share on other sites More sharing options...
McRamFan Posted January 12, 2017 Share Posted January 12, 2017 14 minutes ago, TigerTedd said: So that's another day and it's not happened. Wasn't it 22nd December the yanks were ready to go? Then it was definitely going to happen this Tuesday. Seriously, how difficult can a £50m deal be to sort out? It's all in one pence coins and Fawaz is counting it... Link to comment Share on other sites More sharing options...
King Kevin Posted January 12, 2017 Share Posted January 12, 2017 Can't be arsed to verify it ,but on LTLF they are saying a press conference for this afternoon has been cancelled. Link to comment Share on other sites More sharing options...
Boycie Posted January 12, 2017 Share Posted January 12, 2017 3 minutes ago, King Kevin said: Can't be arsed to verify it ,but on LTLF they are saying a press conference for this afternoon has been cancelled. Maybe they didn't pay the lecky bill and the lights dunna wok? Link to comment Share on other sites More sharing options...
Sith Happens Posted January 12, 2017 Share Posted January 12, 2017 1 hour ago, Ellafella said: No. Actually and ironically, the land is owned by the City Council (even though it's in the County ) and luckily the leader of Nott'm City Council is a big Watford fan. is that true?? he could stir up a right hornets nest if he sees fit. Link to comment Share on other sites More sharing options...
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