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tinman

By tinman
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europia

europia

Posted
Posted
2 hours ago, Asheville Ram said:

Even when the transaction started in May and the lawyers have been working on it for months, £60million is not a big deal, the completion being constantly extended makes me think it is either last minute chipping or no funds visible.

In monetary terms it's not a lot for a football club. Shows how keen Mr Morris is to get rid. To put it into perspective, Premier League clubs often shell out more than £60m on one player. They are perhaps, as you say into the fine details........ or scratching around for the funds. 

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kevinhectoring

kevinhectoring

Posted
Posted
40 minutes ago, G STAR RAM said:

An agreement in principle has not long been agreed.

Lawyers would not have been working day and night on a transaction for which the terms had not even been agreed.

exactly    trust in MM  for goodness' sake !!  don't you think that before the announcement was made they both said, "it's agreed, it's a done deal, let's sheikh on it"  

   

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BathRam72

BathRam72

Posted
Posted
16 minutes ago, Cocu_Doodle_Do said:

When the EFL approve the deal what does that entail? Fit and proper persons proof of funds? 

If it goes south it means its a lucky escape. If it goes ahead it means all is legit.

You forget, the EFL will probably still want to get one over us for dodging their bullet a few weeks back.  They might have approved a dud ??

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BriggRam

BriggRam

Posted
Posted
6 hours ago, NottsRammy said:

Starting to get squeaky bum time now , I think were not being told something , it's easy to say massive sum lots to do , that's crap if they been talking since may . Something isnt right here got the feeling it's no funds version 3 . 

The disgruntled Geordie may have been right ??

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Sith Happens

Sith Happens

Posted
Posted
10 hours ago, Cocu_Doodle_Do said:

When the EFL approve the deal what does that entail? Fit and proper persons proof of funds? 

If it goes south it means its a lucky escape. If it goes ahead it means all is legit.

1200px-Wigan_Athletic_svg.thumb.png.4c4795588bf5b0fc171f73fa3c546cc8.png

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Mucker1884

Mucker1884

Posted
Posted
18 hours ago, JuanFloEvraTheCocu'sNesta said:

Me mams dog walkers brother says his mate saw The Sheikh at B&Q looking for a lawn mower. 

Imminent. 

I saw my mate, the other week,
He said that he'd seen a royal sheikh.
So I asked, "Did he sign the deed?"
It turns out it wasn't Sheikh Khaled.

... Sheikh Khaled... Sheikh Khaled... It turns out it wasn't Sheikh Khaled...
 

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CBRammette

CBRammette

Posted
Posted
11 hours ago, europia said:

In monetary terms it's not a lot for a football club. Shows how keen Mr Morris is to get rid. To put it into perspective, Premier League clubs often shell out more than £60m on one player. They are perhaps, as you say into the fine details........ or scratching around for the funds. 

Even the off the pitch/financial stuff we know about would be a field day for the buyer's lawyers and accountants. No surprise its not completed yet. Wonder if our announcement was an attempt to speed them along

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Ellafella

Ellafella

Posted
Posted
12 hours ago, kevinhectoring said:

exactly    trust in MM  for goodness' sake !!  don't you think that before the announcement was made they both said, "it's agreed, it's a done deal, let's sheikh on it"  

   

...and then MM probably proposed a celebratory drink, but non-alcoholic of course. I imagine MM said "Great! Drink? Fancy a milk, Sheikh?". ?

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NottsRammy

NottsRammy

Posted
Posted
54 minutes ago, MackworthRamIsGod said:

Amateurish.

They sound perfect for us.

To be fair having listened to that those 2 sound just as amateurish as our blokes who are taking over might be who knows . You cant get anything from their comments at all.

Whats concerning me is the amount of time this is taking is just hurting the club and Mel knows this , so i would think from Mels end he wants it done quick , so all you can take from this is the hold up is for some reason at their end . The fact its been going since may and has been kept secret , no one knew about this until last 2 weeks . Your not telling me they have kept it quiet this long and have slipped up in last 2 weeks , they have slipped up because they now dont mind it being out there as public information with the forming of that company derventino holdings or whatever it was . 

The club have said they will not comment further till the deal is complete is just harming things right now as its creating massive uncertainity which can only affect manager and staff and results . Unless something is said to reassure fans that the deal is going through and there is no reason to worry then there is GENUINE REASON TO WORRY ..........its taking to long !! .

This has fake takeover version 3 from their end written ALL OVER IT !! 

The fact this was made PUBLIC you would think that means its over in a matter of days NOT 2 bloody weeks and counting . 

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i-Ram

i-Ram

Posted
Posted

It will be at least another couple of weeks yet.  Letters of intent/Agreements in principal, and some broad sharing of financial information will have happened over recent months. I doubt any significant in depth analysis by the potential new owner’s legal/audit team will have commenced in earnest until EFL approval had been obtained, which was only last Thursday. Full disclosure procedures are probably now in hand, and this is where the buyers team will be earning their fees, looking through all documentation and dealing with the complexities of a number of companies Mel has created as his investment vehicles for the club.  I would think proper due diligence in this kind of scenario will take c2-4 weeks in normal times. More difficult with Pearce having COVID, and Morris having to shield. No update on Pearce; hope he is ok. Once the due diligence is over then their will need to be a final negotiation on price, based on the findings.

Let’s close the thread for a little while I would suggest. Focus all our energies on how Cocu and his team might prepare us for at least the next couple of matches. Two important matches for Phil. Hope we can get 6 points.

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Gaspode

Gaspode

Posted
Posted
3 minutes ago, i-Ram said:

It will be at least another couple of weeks yet.  Letters of intent/Agreements in principal, and some broad sharing of financial information will have happened over recent months. I doubt any significant in depth analysis by the potential new owner’s legal/audit team will have commenced in earnest until EFL approval had been obtained, which was only last Thursday. Full disclosure procedures are probably now in hand, and this is where the buyers team will be earning their fees, looking through all documentation and dealing with the complexities of a number of companies Mel has created as his investment vehicles for the club.  I would think proper due diligence in this kind of scenario will take c2-4 weeks in normal times. More difficult with Pearce having COVID, and Morris having to shield. No update on Pearce; hope he is ok. Once the due diligence is over then their will need to be a final negotiation on price, based on the findings.

Let’s close the thread for a little while I would suggest. Focus all our energies on how Cocu and his team might prepare us for at least the next couple of matches. Two important matches for Phil. Hope we can get 6 points.

How dare you come in here and talk sense? The ranting masses won't be happy with you.....

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