europia Posted February 10, 2021 Share Posted February 10, 2021 11 minutes ago, DCFC1388 said: The reason the club & BZI were confident the takeover was pretty much done and released the statement before Christmas was because it was until the main investor pulled out over Christmas. Seems to me now it is a case of the deal is still actually done in terms of legalities and cost etc but BZI / the Sheikh need to replace the the original main investor with other investors before they can send the money and seal the deal. Id expect Morris knows this which is why the club havent come out and said it is off. Is there any particular rush now if we have the money to cover the rest of the season. Most people would consider that the main investor pulling out is fairly fundamental, in terms of the deal not progressing. It's hard to imagine a long queue of money men looking for a loss making venture in the middle of a pandemic. If any were thinking of going down that route, they would probably sit tight and wait for the inevitable event of some unfortunate clubs going into administration, due to lack of operating funds. Link to comment Share on other sites More sharing options...
DCFC1388 Posted February 10, 2021 Share Posted February 10, 2021 11 minutes ago, europia said: Most people would consider that the main investor pulling out is fairly fundamental, in terms of the deal not progressing. It's hard to imagine a long queue of money men looking for a loss making venture in the middle of a pandemic. If any were thinking of going down that route, they would probably sit tight and wait for the inevitable event of some unfortunate clubs going into administration, due to lack of operating funds. Exactly, which is why it hasnt progressed since new year. What we have to remember is that the Sheikh and BZI have made their money by getting these consortiums together and investing in companies/projects so he will have no end of contacts he will no doubt be trying to use. It is no benefit to him to be messing us around and not complete the deal. Link to comment Share on other sites More sharing options...
G STAR RAM Posted February 11, 2021 Share Posted February 11, 2021 11 hours ago, DCFC1388 said: The reason the club & BZI were confident the takeover was pretty much done and released the statement before Christmas was because it was until the main investor pulled out over Christmas. Seems to me now it is a case of the deal is still actually done in terms of legalities and cost etc but BZI / the Sheikh need to replace the the original main investor with other investors before they can send the money and seal the deal. Id expect Morris knows this which is why the club havent come out and said it is off. Is there any particular rush now if we have the money to cover the rest of the season. Wasn't the official story that the money had been transferred and they were just waiting for it to reach the solicitors? How can that have happened if the main investor has pulled out? If this problem is arising at purchase stage, what is it going to be like every transfer window when we need cash. Wasnt one of the problems when GSE were in charge that we had some investors that wanted to put more money in but the others didn't? Link to comment Share on other sites More sharing options...
BIllyD Posted February 11, 2021 Share Posted February 11, 2021 Whoops Link to comment Share on other sites More sharing options...
oldtimeram Posted February 11, 2021 Share Posted February 11, 2021 11 hours ago, DCFC1388 said: The reason the club & BZI were confident the takeover was pretty much done and released the statement before Christmas was because it was until the main investor pulled out over Christmas. Seems to me now it is a case of the deal is still actually done in terms of legalities and cost etc but BZI / the Sheikh need to replace the the original main investor with other investors before they can send the money and seal the deal. Id expect Morris knows this which is why the club havent come out and said it is off. Is there any particular rush now if we have the money to cover the rest of the season. If investors can pull out just like that, what does the future hold if another key investor decides to pull out after/if the takeover ever happens? Nothing wrong with a consortium in principle but it would be better if the main owner/investor actually had a decent amount of money himself. Link to comment Share on other sites More sharing options...
tinman Posted February 11, 2021 Author Share Posted February 11, 2021 IF the BZI backer/investor has pulled out after a contract had been signed then that obviously leaves BZI in a tricky spot. I'm no expert but if they now pull out of a deal then could Mel sue them for breach of contract? So in that case Mel doesn't want to pull the plug on the deal, and neither do BZI. We're stuck in a state of limbo until another investor comes along or a new purchaser completely. Link to comment Share on other sites More sharing options...
DRBee Posted February 11, 2021 Share Posted February 11, 2021 14 hours ago, DCFC1388 said: The reason the club & BZI were confident the takeover was pretty much done and released the statement before Christmas was because it was until the main investor pulled out over Christmas. Seems to me now it is a case of the deal is still actually done in terms of legalities and cost etc but BZI / the Sheikh need to replace the the original main investor with other investors before they can send the money and seal the deal. Id expect Morris knows this which is why the club havent come out and said it is off. Is there any particular rush now if we have the money to cover the rest of the season. How do they promote a season ticket sale campaign for next season with this uncertainty plus the covid problems? Link to comment Share on other sites More sharing options...
kevinhectoring Posted February 11, 2021 Share Posted February 11, 2021 2 hours ago, tinman said: IF the BZI backer/investor has pulled out after a contract had been signed then that obviously leaves BZI in a tricky spot. I'm no expert but if they now pull out of a deal then could Mel sue them for breach of contract? So in that case Mel doesn't want to pull the plug on the deal, and neither do BZI. We're stuck in a state of limbo until another investor comes along or a new purchaser completely. Fair to assume floppy heads of terms or whatever were signed before the Nov announcement. But I think the club has been quite careful to avoid suggesting that anything has been signed since then. @G STAR RAMand others have pointed out how future funding commitments are difficult to agree with a consortium (because different investors have different views and different resources). Maybe this is part of the hold up. And I don’t think Mel will agree to sell until he himself is satisfied there are commitments in place to fund the club in the foreseeable. He does not want a cash crunch shortly after selling because he’ll feel responsible. And will be blamed. Steve Nicholson makes the point that if the deal were off, why would we not be told? The ongoing uncertainty is obviously not good for the club. Link to comment Share on other sites More sharing options...
kevinhectoring Posted February 11, 2021 Share Posted February 11, 2021 21 hours ago, Iniestagram said: 1st post and I get the number wrong by £169840000, bugger. The Burnley takeover cost £170 million for 84%. Looked a racy deal - recall it was just 15m of equity and the rest borrowed from Dell at over 9% was it? Plus possibly using cash on the club balance sheet? Would be interested to know whether we are more highly leveraged if you take into account the debt in the stadium company Link to comment Share on other sites More sharing options...
Arsene Titman Posted February 11, 2021 Share Posted February 11, 2021 18 hours ago, DCFC1388 said: 18 hours ago, Abu Derby said: He’s skint, just like the Geordie said. If this goes through it’ll be back to theJeremy Keith and Murdock McLeod days. For Gods sake, pull the damn plug! 18 hours ago, DCFC1388 said: He wasnt just using his money he was fronting up a consortium of other investors. There are too many posters on here who won’t let the facts get in the way of an argument Link to comment Share on other sites More sharing options...
Jimbo Ram Posted February 11, 2021 Share Posted February 11, 2021 9 minutes ago, Arsene Titman said: There are too many posters on here who won’t let the facts get in the way of an argument What are the facts then Mr ITK???? Link to comment Share on other sites More sharing options...
RadioactiveWaste Posted February 11, 2021 Share Posted February 11, 2021 It does occur to me that if BZI find a new investor or consortium of investors, surely, they'd have their own ideas about the deal, so even if he found new backing, there'd probably be another round a round of clause renegotiation to satisfy the new investors? Or viewed the other way, if I had the money and BZI cam to me looking as a potential investor, I'd want my legal team to look through it and advise me what terms in the deal are undesirable or could be amended - I doubt I'd just pick up the deal BZI had already agreed and go "OK sure, I'll sign up for this". Link to comment Share on other sites More sharing options...
Pearl Ram Posted February 11, 2021 Share Posted February 11, 2021 20 minutes ago, Arsene Titman said: There are too many posters on here who won’t let the facts get in the way of an argument No there isn’t. ? Link to comment Share on other sites More sharing options...
BucksRam Posted February 11, 2021 Share Posted February 11, 2021 22 minutes ago, RadioactiveWaste said: It does occur to me that if BZI find a new investor or consortium of investors, surely, they'd have their own ideas about the deal, so even if he found new backing, there'd probably be another round a round of clause renegotiation to satisfy the new investors? Or viewed the other way, if I had the money and BZI cam to me looking as a potential investor, I'd want my legal team to look through it and advise me what terms in the deal are undesirable or could be amended - I doubt I'd just pick up the deal BZI had already agreed and go "OK sure, I'll sign up for this". True, and maybe that's why we've heard diddly squat after all this time...... Link to comment Share on other sites More sharing options...
Mucker1884 Posted February 11, 2021 Share Posted February 11, 2021 5 hours ago, DRBee said: How do they promote a season ticket sale campaign for next season with this uncertainty plus the covid problems? Won't be easy for them. I suspect the majority of 21/22 season ticket holders would have already paid, around 8 to 12 months ago. Can't see DCFC bringing in much money for ST sales this coming Spring/Summer. (...I appreciate it still needs promoting of course, and they need to bring in as much as possible.) Link to comment Share on other sites More sharing options...
Arsene Titman Posted February 11, 2021 Share Posted February 11, 2021 1 hour ago, Pearl Ram said: 1 hour ago, Arsene Titman said: There are too many posters on here who won’t let the facts get in the way of an argument 1 hour ago, Pearl Ram said: No there isn’t. ? Are you interested in just the 5 minute argument or would you like the full half hour? Link to comment Share on other sites More sharing options...
Rab a dab doo Posted February 11, 2021 Share Posted February 11, 2021 5 hours ago, DRBee said: How do they promote a season ticket sale campaign for next season with this uncertainty plus the covid problems? How about one free camel ride around the car-park with each ticket brought (no subsequent refunds allowed). Link to comment Share on other sites More sharing options...
Mucker1884 Posted February 11, 2021 Share Posted February 11, 2021 8 minutes ago, Rab a dab doo said: How about one free camel ride around the car-park with each ticket brought (no subsequent refunds allowed). That's fine on sand, but I don't think that'd be safe, on tarmac! Maybe they could get us to sit in a low trolley, and get the camel(s) to pull them round the car park? We could call it "The great big Derby County Camel Tow", or something equally catchy? Link to comment Share on other sites More sharing options...
europia Posted February 11, 2021 Share Posted February 11, 2021 On 10/02/2021 at 22:38, DCFC1388 said: Exactly, which is why it hasnt progressed since new year. What we have to remember is that the Sheikh and BZI have made their money by getting these consortiums together and investing in companies/projects so he will have no end of contacts he will no doubt be trying to use. It is no benefit to him to be messing us around and not complete the deal. Actually there may be a benefit, if for instance the agreed price could perhaps be renegotiated. Hypothetical of course, but considering the current climate, the original asking price might not be so attractive now (to the Sheikh). It would be a surprise if BZI actually complete the proposed takeover. Most likely outcome, Mr Morris will probably hang on till 2022 to attract another buyer, unless he decides to further cut his losses for quick(ish) sale. Link to comment Share on other sites More sharing options...
kevinhectoring Posted February 11, 2021 Share Posted February 11, 2021 5 hours ago, Mucker1884 said: Maybe they could get us to sit in a low trolley, and get the camel(s) to pull them round the car park? You’d definitely need a hard hat And a shovel Link to comment Share on other sites More sharing options...
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