[Archived] Rovers Takeover Thread

[Rover The Seas]

It seems to me that if Rovers are both an asset and a beneficiary, presumably they will remain a beneficiary after any sale of assets.

Right now the trust runs the Rovers (and the other businesses) and distributes dividends to family and Rovers.

Unless there's some specific clause that ends the Rovers' beneficiary status upon completion of any sale, I would assume that Rovers will remain a beneficiary of the Trust.

Just because the Trust doesn't run the club doesn't mean it can't continue to donate funds.

Is there some problem with this logic?

[American]

I asked this before and didn't get an answer from any of our resident "experts" but will try again:

Is it a perpetual trust, or is there an end game where the trust gets liquidated? If so, when and to whom?

[FourLaneBlue]

I asked this before and didn't get an answer from any of our resident "experts" but will try again:

Is it a perpetual trust, or is there an end game where the trust gets liquidated? If so, when and to whom?

We don´t have any experts regarding the trust that is the problem; although some think they are. It is all guesswork though ultimately...as nobody here has seen the deeds regarding to how the trust should operate.

[Iceman]

Iamarover,i wasnt referring to the way thd trust is being run,or the way they handling the clubs finances.im saying that if they are blocking a potential takeover of the club,because they want to much or over value the club,then they are looking to make something for all the years that they made nothing.thats not having the clubs best interest at heart.either they stay,which i would like,but at least show that they are a bit enthusiastic about the club.we all know they have lost interest in BRFC.

[Mc Love]

Icers, i think the reason they aint showing the books is because Ronnie and his mates havent proved they have the needs to meet the what is written in th trust.

[philipl]

Iamarover,i wasnt referring to the way thd trust is being run,or the way they handling the clubs finances.im saying that if they are blocking a potential takeover of the club,because they want to much or over value the club,then they are looking to make something for all the years that they made nothing.thats not having the clubs best interest at heart.either they stay,which i would like,but at least show that they are a bit enthusiastic about the club.we all know they have lost interest in BRFC.

Iceman I have good reason to believe the JWT are not blocking the sale over valuation. This is a line certain people close to one or more possible buyer has spun. There are Rovers supporters working in Jersey but obviously their professional focus overrides their football love. I am absolutely certain that to say the Trust has lost interest in BRFC is absolute nonsense especially at a time as critical as this.

[Mc Love]

Philip, man dont rise to it

[neophox]

Its wednesday now, any news on the manager front Nicko?

[AggyBlue]

Its wednesday now, any news on the manager front Nicko?

BFS picks his best suit up from the dry cleaners today

Sorry, that should be Uncle Sam.

[iamarover]

Iceman I have good reason to believe the JWT are not blocking the sale over valuation. This is a line certain people close to one or more possible buyer has spun. There are Rovers supporters working in Jersey but obviously their professional focus overrides their football love. I am absolutely certain that to say the Trust has lost interest in BRFC is absolute nonsense especially at a time as critical as this.

Exactly. The Trustees are the best and most stable way forward for a club like ours. Its about time people acknowledged this. God knows what they would think if they read some of the ridiculous comments on their conduct posted on here.

[yoda]

Exactly. The Trustees are the best and most stable way forward for a club like ours. Its about time people acknowledged this. God knows what they would think if they read some of the ridiculous comments on their conduct posted on here.

They would be professional and take it with a pinch of salt.

[Exiled in Toronto]

Exactly. The Trustees are the best and most stable way forward for a club like ours.

I might agree with you if the Trustees felt the same way, but they patently don't, as evidenced by them having had the club up for sale for a year.

[blue phil]

I asked this before and didn't get an answer from any of our resident "experts" but will try again:

Is it a perpetual trust, or is there an end game where the trust gets liquidated? If so, when and to whom?

.........err....we'll get back to you on that one

[philipl]

.........err....we'll get back to you on that one

I have provided an answer.

[Manchester Blue]

Did you? I didn't see one.

[iamarover]

I have provided an answer.

Philip in Malta you wont have seen Groundhog Day which was aired on Sky One tonight. In an effort to stave off a 2,000 page thread with a round 1,800 of them asking questions about the TRUSTEES, and subsequent head crashing on comp screens by fans who dont actually believe the Jersey Baby Eaters are salting money away from old ladies' pension funds, could you Pin a summary on the State of the Trust Nation?

Please.

And a photo of them with one head and preferably not on the beach.

[philipl]

The trust is a large holding operation within which the Rovers are an anomoly of being both an asset and a beneficiary. It will continue irrespective of any sale of the Rovers to the best of my knowledge.

I posted What holdup in reply to a point on the Manager thread- sorry wasn't concentrating.

On the Manager, the club has expressed a hope to appoint this weekend but if the candidates are all not good enough I hope the supporters have the sense to encourage the Board to take their time to search for the right person rather panic about it.

On the sale of the club, quite clearly nobody has yet come remotely close to meeting whatever criteria the Trust has.

First one

[philipl]

This has been explained I don't know how many times before.

The Jack Walker Trust is effectively an investment and holding company.

Its assets include Flybe, high tech companies in the UK and USA and a lot of property.

and Blackburn Rovers.

It takes dividends, it sells its assets, it buys new ones.

Its income is available for distribution to the beneficiaries, which include Jack's family members and Blackburn Rovers.

How that is distributed is determined by the Trustees acting according to the Trust document.

So if Rovers get sold, the Trust continues and the cash from the sale will get re-invested elsewhere in the Trust in all probability.

Second one- Two in fact!

[American]

Doesn't really answer the question, just says it's an umbrella trust with all of the companies under it.

Unless the true answer is "nobody knows because we no f-all about the actual trust document and have never read it."

[Ste B]

"nobody knows because we no f-all about the actual trust document and have never read it."

You've hit the nail squarely on the head.

Everything else is just guesswork based on press comments. I don't *Think* that PhilipL will be too far off the mark with his assumptions though

[philipl]

When the Chairman of the Trustees was interviewed in 2000, he wasn't asked about the Trust disposing of the Rovers but he was asked about the Trust's activities- what I posted is pretty well a straight crib from his answer. I think its a fair assumption that once/if the peculiarities of the provisions for the Rovers within the Trust Deed have been satisfied, then the Trust would handle the sale of the Rovers like any other asset sale.

Remember the Trust's largest single asset is Flybe and the Trust took the strategic decision to dispose of the airline because they believed it had grown so much that it had unbalanced the Trust's portfolio of investments.

In the event, they pulled the planned public flotation and backed the airline's acquisition of BA Connect making Flybe significantly larger!

[Eddie]

So instead of being sold we'll buy Blackpool?

[philipl]

So instead of being sold we'll buy Blackpool?

Except in airline terms the analogy would be we'd buy Liverpool.

[Iceman]

Nicko is the takeover situation entering an advanced stage.ive heard rumours,that Ronnie and his goons are getting positive responses from those concerned.

[bats]

Nicko can you tell us anything about the takeover news you mentioned you were going to tell us?