Kirchner- A risk or a potential reward

[Gone]

45 minutes ago, Reggie Greenwood said:

If big American  financial institutions like Goldman Sachs’s etc have been funding Kirchner / Sylnc then I’m pretty sure that would have had a bearing on the Q/ EFL decision ? If he could /is fooling massive financial corporations I doubt the EFL and Admin would fare much better sussing him out. 
That’s from a person who is no fan of Q or EFL 

I would have expected the due diligence of both parties to have been more thorough to be honest. Anyway all hindsight now and thank god he’s gone 

[vonwright]

48 minutes ago, Reggie Greenwood said:

If big American  financial institutions like Goldman Sachs’s etc have been funding Kirchner / Sylnc then I’m pretty sure that would have had a bearing on the Q/ EFL decision ? If he could /is fooling massive financial corporations I doubt the EFL and Admin would fare much better sussing him out. 
That’s from a person who is no fan of Q or EFL 

I understand that but they were backing his company - not him. That might suggest to Q that he's a credible player but their job is to work out if his funding to buy the club is credible and secure, not whether big financial corporations have bankrolled his business. 

Edited July 26, 2022 by vonwright

[Brammie Steve]

Let sleeping dogs chase their own tails until they disappear altogether!

Water under the bridge!

No longer a valid topic for discussion!

Onwards and upwards!

COYR!

[FlyBritishMidland]

Let’s not forget Cook, Stretford and, to a degree Rooney.  He convinced all of them he was the right man.  And this goes back to around the time we went into administration.  They’re reputable football people and went along with him.  They must have been certain he had the cash, etc.  I suspect Quantuma would have used the EFL’s test as their guide, which, let’s not forget, would allow MM to takeover another club tomorrow as you can ruin one but not two!!

I think something happened in his other businesses or personal wealth in the last few weeks before completing the deal.  That’s when all the other stories about non-payment of wages, etc started to come out and I think he got cold feet.  Which makes you think, what if his original bid was successfull?

[Ram-Alf]

38 minutes ago, vonwright said:

I understand that but they were backing his company - not him. That might suggest to Q that he's a credible player but their job is to work out if his funding to buy the club is credible and secure, not whether big financial corporations have bankrolled his business. 

Now I'm guessing here, Not ITK, CK is bankrolled by company X, CK is in charge of the bank account, CK moves the said money into his personnel account, Personnel account is seen to be 10 of millions of $s, Q and EFL give the OK, Money allegedly transfered and holed up in AML checks, Meanwhile things are hotting up in the good old US of A, Employees aint been paid for a while, Employees are putting it out, CK smells summat fishy and it aint a collection of stuff in Baldricks trousers. CK no longer on twatter.

CK has to act and pretty sharpish, Pulls out of the deal, Sells his plane that cost a few dollars more off Clint Eastwood, Employees getting pi$$ed off, More on twatter concerning CK, Blocks posters, Article written by an esteemed company that shines a light on his "underhand" dealings, CK removed as CEO of Slick-Oil by the directors and closes his twatter account.

Where does does he go from here...

[SamUltraRam]

Here is my opinion going way back to April in the Administration thread.

Kirchner took it to a whole new level :

"Got to agree in my experience also. Americans I have encountered with work are fantastic communicators, have bags of confidence and positivity but when it comes to the real deal it can be disappointing They certainly talk the talk but do they walk the walk ?"

[Ramarena]

So if Slync haven’t got “the Kirch” and we haven’t got “the Kirch”

Who’s got “the Kirch”

[SamUltraRam]

1 minute ago, Ramarena said:

So if Slync haven’t got “the Kirch” and we haven’t got “the Kirch”

Who’s got “the Kirch”

Mrs Kirch - & she's welcome to him

[Ramarena]

7 minutes ago, SamUltraRam said:

Mrs Kirch - & she's welcome to him

Maybe she’s turfed him out and he’s had to sleep on his Royal Highness,  The Venerable Saint Garry Cook’s sofa.

[Ram-Alf]

15 minutes ago, Ramarena said:

So if Slync haven’t got “the Kirch” and we haven’t got “the Kirch”

Who’s got “the Kirch”

I heard a whisper he's moved into the sale of farming equipment...no Bull!

[Ramarena]

9 minutes ago, Unlucky Alf said:

I heard a whisper he's moved into the sale of farming equipment...no Bull!

Just make sure it doesn’t fall apart!

[RoyMac5]

"...

Kirchner “has been suspended as CEO until further notice,” Mary Athridge, a spokesperson for Goldman Sachs, told Forbes. “We take our responsibility as board members and investors very seriously, as we’ve always done.”

The investors, led by Goldman Sachs, will also be providing more capital to the company to resolve the payroll issue this week, Athridge said, though she declined to say how much. A person with knowledge of the matter said the outstanding payroll was about $4 million.

Athridge declined to comment on why Kirchner was suspended."

[Anag Ram]

Definitely dodged one there

 

[hintonsboots]

Kirchner spent large on his personal endeavors, including the purchase of a private jet, luxury cars, a membership to an exclusive Dallas-area golf club called the Vaquero, and an unsuccessful attempt to buy the English football team, Derby County. “The lifestyle that he was living just didn’t seem real,” a former Slync employee told Forbes last week.

Meanwhile back in the UK, Insolvency practitioners Quantuma, the EFL and Sports journalist Alan Nixon were unavailable for comment. Nixon was apparently out walking his dog.

Edited July 28, 2022 by hintonsboots

[kevinhectoring]

19 minutes ago, hintonsboots said:

Kirchner spent large on his personal endeavors, including the purchase of a private jet, luxury cars, a membership to an exclusive Dallas-area golf club called the Vaquero, and an unsuccessful attempt to buy the English football team, Derby County. “The lifestyle that he was living just didn’t seem real,” a former Slync employee told Forbes last week.

Meanwhile back in the UK, Insolvency practitioners Quantuma, the EFL and Sports journalist Alan Nixon were unavailable for comment. Nixon was apparently out walking his dog.

The article doesn’t in fact tell us why his funds didn’t clear. But presumably because they weren’t all his. 
 

We’ll never know for sure all the reasons why he was fired. The Forbes allegations one suspects. But another difficult point would have been that he told the EFl he was providing all the funding to buy us and we now know that was not the case.  Will be interesting to see what eventually comes out on that front

[LERam]

If the money had gone through, and he became Derbys new owner...

What would it mean for the club if it then turned out months later, that money was investment funds and CK had no right to use. If criminal charges etc were brought against him.

Would he be forced to sell like Man City's old Thai owners? 

I hate to think of the mess that might have followed if that happened 

[kevinhectoring]

On 22/07/2022 at 17:45, RAM1966 said:

Nixon claimed to have seen the funds, the reality is probably different, why would Kirchner show a red top journalist the funds, no benefit in it.  Nixon has regularly been economical with the truth and tries to look more in the know than he actually is, Nixon assured us all that there was nothing to worry about, he called out all of the critics that saw what was coming. 

Nixon has gone awfully quite regarding Derby as he knows he's been made to look a complete tool by Kirchner.  

I think the funds were transferred but the bank wouldn’t release them for money laundering reasons. Numerous sources confirmed that (not only Nixon) and there was no plausible account that conflicted with that. 
 

[CBX1985]

On 26/07/2022 at 13:46, FlyBritishMidland said:

Let’s not forget Cook, Stretford and, to a degree Rooney.  He convinced all of them he was the right man.  And this goes back to around the time we went into administration.  They’re reputable football people and went along with him.  They must have been certain he had the cash, etc.  I suspect Quantuma would have used the EFL’s test as their guide, which, let’s not forget, would allow MM to takeover another club tomorrow as you can ruin one but not two!!

I think something happened in his other businesses or personal wealth in the last few weeks before completing the deal.  That’s when all the other stories about non-payment of wages, etc started to come out and I think he got cold feet.  Which makes you think, what if his original bid was successfull?

I dealt with a conman at work once.  It was all very embarrassing, but it was oh so plausible.  I suspect the same thing here.

The fact he has one thing gives credence to the other.  DCFC was, likely, one venture designed to give credibility to him alongside the golf etc.  But they are symbiotic - the fact he has one makes the other more likely and visa versa. 

They almost certainly thought they knew 100% he had the money.  

[CBX1985]

5 hours ago, LERam said:

If the money had gone through, and he became Derbys new owner...

What would it mean for the club if it then turned out months later, that money was investment funds and CK had no right to use. If criminal charges etc were brought against him.

Would he be forced to sell like Man City's old Thai owners? 

I hate to think of the mess that might have followed if that happened 

Thank. Our. Lucky. Stars. Someone. Stopped. It.

[RodleyRam]

Dodged a nuke here.

The regulation around football ownership is insufficient. If clubs are genuinely considered community assets, then the fit and proper persons test needs more teeth.

We are indebted to whoever stopped the sale going through but let's be clear, it wasn't any of the people who it should have been and that's alarming.