[Archived] Rovers Might Have Been Sold?

[67splitscreen]

Would they ever have got over the first hurdle if they did not have the required funds, I doubt it.

I would imagine future funding and how they propose to re-work the current debt is more of an issue.

Then comes the mid - long term business model, with the welfare of the club being paramount.

As others have said for this still to be ongoing it has to be a serious bid.

[sparkspakespoke]

  On 09/07/2010 at 22:00, 67splitscreen said:

Would they ever have got over the first hurdle if they did not have the required funds, I doubt it.

I would imagine future funding and how they propose to re-work the current debt is more of an issue.

Then comes the mid - long term business model, with the welfare of the club being paramount.

As others have said for this still to be ongoing it has to be a serious bid.

I agree. What I am saying is that there are levels of wealth that means that has not been an issue with takeovers at others clubs. It seems this is not the case with our prospective owners, just an observation.

[67splitscreen]

  On 09/07/2010 at 22:07, sparkspakespoke said:

I agree. What I am saying is that there are levels of wealth that means that has not been an issue with takeovers at others clubs. It seems this is not the case with our prospective owners, just an observation.

Understood, we are all in the same boat, but the fact is we don't know who the money men are, for all we know money may not be the issue, we only know that some guy called Shah is at the head of a consortium and we don't even know 100% which Shah he is.

[Hughesy]

  On 09/07/2010 at 17:54, Majiball said:

Just so you know Hicks managed his due diligence in 3 days.

The same fella that hates his business partner? The owners of the club who just slipped out of the top 4 & are looking for new buyers asap....Perhaps a sign why it should take longer?!

  On 09/07/2010 at 21:35, sparkspakespoke said:

It seems to be quicker when people have the money to make it quick...

Perhaps its got more to do with 'who' they are buying from?? I know the Trust dont throw money around, but they have kept us stable & they have 'jacks wishes' to adhere too, and the potential wrath of the clubs supporters if they get it wrong....Have a little patience

[philipl]

Fools and their money...

Mike Ashley certainly bought in haste and found he'd acquired about £150m of debt he didn't realise he'd become the proud owner of.

Even though I am sure Rovers are in perfect order from a due diligence stand point, I would be extremely worried about the business acumen of anyone acquiring the club without doing the due diligence properly and being realistic that means two weeks at the barest minimum. Simply reading and assimilating the documentation even if it has all been perfectly and fully assembled by the Trust would take four or five days if they are being thorough and responsible. Add two days to properly prepare a due diligence questionaire even if their professionals throw in a couple of all nighters after due diligence rights are granted- they have to find out what exactly and in detail they need evidencing and assurances on.

[ewoodpo]

  On 09/07/2010 at 22:00, 67splitscreen said:

Would they ever have got over the first hurdle if they did not have the required funds, I doubt it.

I would imagine future funding and how they propose to re-work the current debt is more of an issue.

Then comes the mid - long term business model, with the welfare of the club being paramount.

As others have said for this still to be ongoing it has to be a serious bid.

I could be wrong , but the name Michael Knighton does that ring any bells. He did have a laugh at the expense of Manchester Utd.

[Majiball]

  On 09/07/2010 at 21:35, sparkspakespoke said:

Portsmouth's took this long maj, dont you remember it srtetching over the whole of last summer. It seems to be quicker when people have the money to make it quick...

Did it? I'm just getting worried that at the rate its all going we'll end up scrapping the barrel transfer wise or end up going with what we have.

I'm not a patient man.

  On 09/07/2010 at 23:46, Hughesy said:

The same fella that hates his business partner? The owners of the club who just slipped out of the top 4 & are looking for new buyers asap....Perhaps a sign why it should take longer?!

You asked. I found an example.

Perhaps you should go back to bed and get out the other side

[Kelbo]

How do we know that the buyers arent already in due diligence?

[philipl]

  On 10/07/2010 at 07:08, Kelbo said:

How do we know that the buyers arent already in due diligence?

It is possible but unlikely for the simple reason the unsuccessful bidders might talk and so it is more normal for an exclusive period for a bidder to undertake their due diligence in is made public especially as a transaction which is so much in the public eye that this one is in.

A quasi-due diligence under non-disclosure might be happening in that a lot of verified information might be being passed to potential buyers but that is no substitute for the real thing unless the selling party is willing to sign some very extensive releases and legally-binding assurances which I would be surprised the Trust would give unless they have an extensive continuing future involvement.

From what I have heard very unofficially there was no due diligence being undertaken as of Thursday last week.

[Bobby G]

Interestingly, I have heard that Liverpool are actively meeting potential investors as of yesterday. So, I dont think the Dubai bid is as done and dusted as has been previously speculated.

[nicko]

To be fair to Chris Nathaniel...he said he had a deal to push through this week and this would appear to be it.

http://soccernet.espn.go.com/news/story?id=807519&sec=transfers&cc=5739

[Kelbo]

  On 10/07/2010 at 09:12, nicko said:

To be fair to Chris Nathaniel...he said he had a deal to push through this week and this would appear to be it.

http://soccernet.espn.go.com/news/story?id=807519&sec=transfers&cc=5739

Nicko,

When you say this, I assume you mean Rovers?

[niggit]

Think he means the Martins deal, so we are not as close to the takeover yet.

[philipl]

  On 10/07/2010 at 07:26, philipl said:

It is possible but unlikely for the simple reason the unsuccessful bidders might talk and so it is more normal for an exclusive period for a bidder to undertake their due diligence in is made public especially with a transaction which is so much in the public eye as this one.

A quasi-due diligence under non-disclosure might be happening in that a lot of verified information might be being passed to potential buyers but that is no substitute for the real thing unless the selling party is willing to sign some very extensive releases and legally-binding assurances which I would be surprised the Trust would give unless they have an extensive continuing future involvement.

From what I have heard very unofficially there was no due diligence being undertaken as of Thursday last week.

Oops that was not what I intended to do!

I think it was pretty obvious Nthnl was talking about other deals and not the Rvrs.

Liverpool probably have four serious suitors which is why I think the Trust should not rush anything unless there is a buyer unambiguously ticking all the boxes. There will be at least one frustrated Liverpool suitor who really needs a top half Premiership club, I am pretty certain of that.

[gumboots]

  On 10/07/2010 at 06:58, Majiball said:

Did it? I'm just getting worried that at the rate its all going we'll end up scrapping the barrel transfer wise or end up going with what we have.

I'm not a patient man.

I'm not patient either. I'm getting fed up with no Rovers news. I know we have to be careful because we don't want to do a Portsmouth and crash and burn and I do really understand that these things take time but it doesn't stop me wishing they didn't and instead of these pages of speculation we could just have a signing or two, even if we don't spend much, just to give us something different to talk about. I know it's not going to happen, but don't you all just wish?

[nicko]

  On 10/07/2010 at 09:31, Kelbo said:

Nicko,

When you say this, I assume you mean Rovers?

Nathaniel tweeted that he was doing a transfer this week...and this one has gone through...so there was some substance to that one.

Don't know how it affects the Rovers takeover, but it does confirm he does not talk BS [all of the time].

Working hard and focussed last week apparently.

[Kelbo]

The club are going to have to be pretty careful here, whilst I appreciate that things are delicate with the takeover situation but we must make some moves in the transfer for two reasons.

Firstly, last year (albeit on cheaper season tickets) the supporters responded and ticket sales were good, we seem to be behind that figure this year and part of that is due to the fact that many supporters are concerned that we will go into the season with no additions to the squad and as such are holding out on purchaseng tickets.

Secondly, we all know what an inspired signing can do for both moral and attendances, indeed, years ago a new signing would put a couple of thousand on the gate, if a big name signing, sometimes 3,000 and as time moves on, the proper options will have moved to other clubs and we are then lagging behind.

The prospective owners and the club must address this quickly if they are to sustain/improve season ticket sales!

[Brfcrule1]

Nicko will there be any news in Tommorrow's People regarding the takeover, transfers etc. If not I fear this board might go into meltdown please give us some good news.

[gumboots]

  On 10/07/2010 at 11:12, Brfcrule1 said:

Nicko will there be any news in Tommorrow's People regarding the takeover, transfers etc. If not I fear this board might go into meltdown please give us some good news.

Mr Nixon may have good contacts and get a lot of stuff right, but he's not a magician; he can't bring news that isn't there to bring!

[martonrover]

  On 10/07/2010 at 11:54, gumboots said:

Mr Nixon may have god contacts and get a lot of stuff right, but he's not a magician; he can't bring news that isn't there to bring!

So that's where he gets all the info from

I share your impatience and believe the current state of limbo is damaging.

[AggyBlue]

  On 10/07/2010 at 11:54, gumboots said:

Mr Nixon may have god contacts and get a lot of stuff right, but he's not a magician; he can't bring news that isn't there to bring!

If he's got contact with the gods he should get everything right

[Steve Moss]

  On 10/07/2010 at 10:24, philipl said:

Liverpool probably have four serious suitors which is why I think the Trust should not rush anything unless there is a buyer unambiguously ticking all the boxes. There will be at least one frustrated Liverpool suitor who really needs a top half Premiership club, I am pretty certain of that.

This is a very good reason for the Trust to go slow. The more potential buyers the better, especially if the Trust's interest is in the long term viability of the club.

  On 10/07/2010 at 11:54, gumboots said:

Mr Nixon may have god contacts . . .

Can't imagine needing any better contacts than that.

[gumboots]

  On 10/07/2010 at 12:12, smoss said:

This is a very good reason for the Trust to go slow. The more potential buyers the better, especially if the Trust's interest is in the long term viability of the club.

Can't imagine needing any better contacts than that.

Sorry! Just been writing tomorrow's sermon and have obviously got him on the brain. No, just a typing error - although the bit about the sermon is true.

[FourLaneBlue]

Blimey!!!

Every time I check on here another 30 pages have been added.

Has anything happened recently?

[Alan75]

  On 10/07/2010 at 13:10, FourLaneBlue said:

Blimey!!!

Every time I check on here another 30 pages have been added.

Has anything happened recently?

Since we've had a hose pipe ban it hasnt stopped raining