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A fridge too far


ramsbottom

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On 31/12/2016 at 18:22, King Kevin said:

Maybe Fridgy doesn't want the potential new owners to see the accounts ,some great comments on LTLF they have nearly got me feeling sorry for them ,nearly.

 http://www.forestforum.co.uk/showthread.php?t=45546

Who's this Lalou Tifrit they're talking about?  That sounds like a completely made up name.  Like when Football League reps come knocking and ask Fawaz who the head of finance is and he's a bit p1ssed and just slurs "Laaaalou Tiffffrit.  Yeah Lalou Tifrit.  He's not here at the moment, just popped to the bank.  Great guy, very good, very trustworthy..."

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11 minutes ago, ramsbottom said:

Who's this Lalou Tifrit they're talking about?  That sounds like a completely made up name.  Like when Football League reps come knocking and ask Fawaz who the head of finance is and he's a bit p1ssed and just slurs "Laaaalou Tiffffrit.  Yeah Lalou Tifrit.  He's not here at the moment, just popped to the bank.  Great guy, very good, very trustworthy..."

My favourite comment is

I don't begrudge him his 20%. It's worth it just for the way he wound Derby fans up over the years.
The 80% owned by JJM will have more effect.
 

Hahaha. Yeah he certainly wound me up mate. Deluded. I think he is brilliant.

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Lol at that list of players

lansbury - about to leave if reports are true

britt - never fit and if he was fit would have been sold by now

antonio - sold as soon as he played well

vaughn - finished about 3 years ago

hobbs - injury prone, waste of money, finished about 3 years ago

mancieene - mistake waiting to happen, never pushed on in his career, living on a rep built 6 years ago

pillianos - only player half decent in their team at the moment and they are hanging their hats on him

 

yeah, well done fawaz

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I have to wonder whether this takeover will ever happen.  I've included part of an old Guardian article from November by David Conn (a proper sports journalist in my opinion) and put some highlights in bold.  I just can't see any sane minded prospective buyer agreeing to these demands or be willing to indulge someone with such ludicrous demands.  A more likely scenario, in my head, is that if accounts are (accidentally nudge nudge wink wink) not submitted, the owner can't be expected to spend his family's cash on buying their way out of a relegation fight. Anyway apologies if the quote is going over old ground...

Fawaz al-Hasawi, the increasingly beleaguered owner of Nottingham Forest, has been asking potential buyers of the club for an annual salary that could rise above £1m and a series of financial demands that include an extraordinary clause entitling him to whatever the players earn in bonuses.

Hasawi has also had to stave off a threatened revolt from the club’s players, the Guardian can reveal, because of the frequency with which they have been paid late or not received their bonuses.

However, it is his financial conditions for selling the two-time European Cup winners, while insisting he remains as chairman with a 20% stake, that highlights Hasawi’s determination to negotiate a remarkable deal for himself only a few days after the Kuwaiti issued a public apology for the erratic way he had run the club and admitted whoever replaced him would be “more professional”.

Hasawi has been asking for £50m to sell 80% of the club as well as being allowed to stay at the City Ground with a condition written into the deal that he no longer makes any financial contributions but takes 20% of future profits. Hasawi, in other words, has been trying to strike a deal whereby he would not contribute to helping the club tick over financially but stands to make millions of pounds if the new regime can halt Forest’s decline and re-establish them in the Premier League.

Forest are 16th in the Championship after four years under Hasawi’s ownership in which the average attendance has plummeted, the league position has steadily got worse every season and the club have had to deal with a series of winding-up orders in the high court, a transfer embargo for breaching financial fair-play regulations and starting the season with a reduced capacity because the ground did not have a safety-certificate holder.

Under the proposed terms, Hasawi’s salary would start at £480,000 a year but go up to £1.08m if Forest were ever promoted – the equivalent of around £21,000 a week at a club where the average player salary is currently £12,000 – and all the money he has put in would be paid back in three lump sums. On top of that, he would receive a promotion bonus of £480,000 and if Forest stayed in the top division the following season he would bank another one-off payment amounting to a year’s salary – meaning he would get £2.16m in one season, even discounting the players’ bonuses and any share of profits.

Prospective buyers have also been informed that he would like the total sum of what the players earn in bonuses, a revelation that is unlikely to go down well in the dressing-room at a time when Hasawi’s erratic leadership is already being questioned within his own club.

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Sith Happens
16 minutes ago, Will Hughes Hair said:

I have to wonder whether this takeover will ever happen.  I've included part of an old Guardian article from November by David Conn (a proper sports journalist in my opinion) and put some highlights in bold.  I just can't see any sane minded prospective buyer agreeing to these demands or be willing to indulge someone with such ludicrous demands.  A more likely scenario, in my head, is that if accounts are (accidentally nudge nudge wink wink) not submitted, the owner can't be expected to spend his family's cash on buying their way out of a relegation fight. Anyway apologies if the quote is going over old ground...

Fawaz al-Hasawi, the increasingly beleaguered owner of Nottingham Forest, has been asking potential buyers of the club for an annual salary that could rise above £1m and a series of financial demands that include an extraordinary clause entitling him to whatever the players earn in bonuses.

Hasawi has also had to stave off a threatened revolt from the club’s players, the Guardian can reveal, because of the frequency with which they have been paid late or not received their bonuses.

However, it is his financial conditions for selling the two-time European Cup winners, while insisting he remains as chairman with a 20% stake, that highlights Hasawi’s determination to negotiate a remarkable deal for himself only a few days after the Kuwaiti issued a public apology for the erratic way he had run the club and admitted whoever replaced him would be “more professional”.

Hasawi has been asking for £50m to sell 80% of the club as well as being allowed to stay at the City Ground with a condition written into the deal that he no longer makes any financial contributions but takes 20% of future profits. Hasawi, in other words, has been trying to strike a deal whereby he would not contribute to helping the club tick over financially but stands to make millions of pounds if the new regime can halt Forest’s decline and re-establish them in the Premier League.

Forest are 16th in the Championship after four years under Hasawi’s ownership in which the average attendance has plummeted, the league position has steadily got worse every season and the club have had to deal with a series of winding-up orders in the high court, a transfer embargo for breaching financial fair-play regulations and starting the season with a reduced capacity because the ground did not have a safety-certificate holder.

Under the proposed terms, Hasawi’s salary would start at £480,000 a year but go up to £1.08m if Forest were ever promoted – the equivalent of around £21,000 a week at a club where the average player salary is currently £12,000 – and all the money he has put in would be paid back in three lump sums. On top of that, he would receive a promotion bonus of £480,000 and if Forest stayed in the top division the following season he would bank another one-off payment amounting to a year’s salary – meaning he would get £2.16m in one season, even discounting the players’ bonuses and any share of profits.

Prospective buyers have also been informed that he would like the total sum of what the players earn in bonuses, a revelation that is unlikely to go down well in the dressing-room at a time when Hasawi’s erratic leadership is already being questioned within his own club.

well you cant knock someone for trying.

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Sith Happens

a link on the lansbury thread says potental new owners unhappy with delays and also more debt found during due diligence...that linked with what fawaz wants i just cant see whats it in for them, just go buy a club without the baggage.

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16 minutes ago, RadioactiveWaste said:

Didn't the forest take over people previously look to buy Everton but get priced out? 

 

Yes.

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Sith Happens
3 minutes ago, needles said:

Yes.

so if true that makes me think they dont have bundles of cash...so why take on a championship club with a poor squad, mountains of debt which will surely still be there even after the takeover?, they are losing 2 million a month, poor crowds - an owner who wants to stay about...

 

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15 minutes ago, Paul71 said:

so if true that makes me think they dont have bundles of cash...so why take on a championship club with a poor squad, mountains of debt which will surely still be there even after the takeover?, they are losing 2 million a month, poor crowds - an owner who wants to stay about...

 

An American investment group containing more than one billionaire (allegedly)?  It's only going one way, Conor the East Midlands are calling once again.

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