[Archived] Rovers Might Have Been Sold?

[chaddyrovers]

http://www.dailytelegraph.com.au/sport/football/sydney-fc-paupers-of-festival-on-4m/story-e6frey4r-1225897160606

Seriously is it that hard to copy and paste a bit of the quote and search on Google? (although he should have provided the link I agree)

Very interest. Guess now it's wait and see. Wonder whether it's the Indian group or another group who hasn't made public about going for the club.

[SIMON GARNERS 194]

Assuming there is no progress being made in the background, I say get out now whilst we still can and keep on looking.

Agree with that.Reading the comments of Kamy fill me with deep suspicion that this Indian consortium are nothing more than a sham.The new season is nearly upoon us and we ALL need to be putting 100% behind our team both on and off the field of play.Matters need to progress drastically before the season starts or this uncertainty could potentially become our downfall!

If these people are haggling about the price of our club then in my opinion they have NOTHING to offer us.

[BPF]

Very interest. Guess now it's wait and see. Wonder whether it's the Indian group or another group who hasn't made public about going for the club.

This from the same source that informed the world that Emerton was leaving....

I'll keep waiting for official news thank you.

[Baz]

I think that Big Sam is getting confused about what exactly Due Diligence is. They Indian group may have an indication of certain things but formally the due diligence stage has not been reached. Also it depends on the buyers, for example the Due Diligence when Man City and Chelsea were bought was a mere formality, however with this consortium who may not have the deepest of pockets (compared to the Arabs at City) it may be a more involved process.

Kamy thanks for the insider info, and I also agree that Sam has no idea whats going on. I'm pretty sure that if due dillegence had been started then that info would be public knowledge by now.

[incy wincy little spider]

Reading today's news it doesn't sound good. Still there is always fan ownership. I wrote a topic a while ago, which got shot down quickly. I would still support it. Wonder how much it would cost to buy a 'significant' stake in the club divided by the number of fans....

[BPF]

Kamy thanks for the insider info, and I also agree that Sam has no idea whats going on. I'm pretty sure that if due dillegence had been started then that info would be public knowledge by now.

If Sam doesn't know what is going on, then we really are in big trouble!

[BPF]

Reading today's news it doesn't sound good. Still there is always fan ownership. I wrote a topic a while ago, which got shot down quickly. I would still support it. Wonder how much it would cost to buy a 'significant' stake in the club divided by the number of fans....

Based on that comment I can confidently state that you are under twenty...

Not only would it take more money than Rovers' fans have, but you would also be required to add a huge amount towards the club every season. Then, if the manager decides he wants to bid ten million on a player, are you ready to give a months pay to let him do that?

Fans will soon get sick of that, feeding children tends to take priority. Then, people start to drop out of the ownership by the bucketload. Soon, the club goes into administration. Goodbye Rovers.

[Ewood and I Would]

I don't get this Due Dilligence taking weeks stuff, I swear Man City were bought in the space of a day....

[tony gale's mic]

I don't get this Due Dilligence taking weeks stuff, I swear Man City were bought in the space of a day....

That's probably because they were asked "do you have enough funds to sustain the club", and replied to the tune of at least a billion pounds..

[67splitscreen]

We've been told sod all to date, why should we be told that due diligence has been entered.

For the bid to fail during that period would be quite damming for one party other the other.

As Sam says and others have, one way or the other it's time to bring an end to the deal.

We have our survival in the Priemer league to defend.

COYB.

[philipl]

I don't get this Due Dilligence taking weeks stuff, I swear Man City were bought in the space of a day....

Sheikh Mansoor has more billions than the Shahs have millions and the deal had some political dimension re Thaksin.

Here is an extremely simplistic due diligence check list. Why not compile the answers for where you work tomorrow morning, read it all in the afternoon and decide whether you have all the information you need to decide what its worth in the evening?

Incidentally, I think Sam got his terminologies all mixed up- not the first time when talking about a non-football subject.

[Pete1981]

Big Sam' comments in Aussie press suggest due diligence has started re takeover. It hasn't - I can guarantee that

Taken from Andy Cryers twitter

http://twitter.com/CryerRovers

[Baz]

Sheikh Mansoor has more billions than the Shahs have millions and the deal had some political dimension re Thaksin.

Here is an extremely simplistic due diligence check list. Why not compile the answers for where you work tomorrow morning, read it all in the afternoon and decide whether you have all the information you need to decide what its worth in the evening?

Agreed Phillip, but what I would say, from my experience, is that a lot of this information will already have been pre-compiled by the selling company, and would need verifying as being correct by the buyer. Differences in time-lines from this point will be dependant on the accuracy & avaialbility of that info, and how much detail the buyer wants to go into. If the monies are tight, then it is more likely the process will take longer as the buyer will want to check more. From memory (and I could be wrong) when Ashley bought Newcastle he didnt know until afterwards he had also inherited a lot of debts.

I would expect any due dillegence to take weeks rather than hours to complete, especially given that any buyers in a deal likely to be on the table at Rovers wont be in the same league of those at City for example.

[incy wincy little spider]

Based on that comment I can confidently state that you are under twenty...

Not only would it take more money than Rovers' fans have, but you would also be required to add a huge amount towards the club every season. Then, if the manager decides he wants to bid ten million on a player, are you ready to give a months pay to let him do that?

Fans will soon get sick of that, feeding children tends to take priority. Then, people start to drop out of the ownership by the bucketload. Soon, the club goes into administration. Goodbye Rovers.

Under twenty??

If this x% is under fan control the club can be steered by the fans until it is sold, which would ideally be never. Almost every post here shows some sort of concern about the future of the club. There would be less concern is a % was owned by 'us' and not a soon to be unknown.

For a teenager my maths obviously isn't good enough to work out the costs and the number of people it will need....

Works in Germany, where they look more to the future then short term unsustainable gains.

[Paul]

Fair enough Kamy, I understand that you can't say any more about the trustees.

For what it's worth, my understanding is that there is nothing in writing that spells out Jack's wishes. The legalities are to do with the way the trustees must operate, but there's nothing in writing to prove what his actual wishes were.

I'm not sure we know that for certain. For at least one type of trust, a Discretionary Trust, it is quite usual to add a "Letter of Wishes" which is a document intended to expand on the true intentions of the deceased in creating the trust. While it is not necessarily legally binding on the trustees it would look very poor, if challenged, if the trustees specifically ignored the contents of a Letter of Wishes.

[Brfcrule1]

Kamy judging by your comments it seems as though you don't think the Indians have the required money to buy the club and they seem to be giving everyone the run around?. Is that the impression you get?. Also have you been able to find out who the other members of his consortium are? & how much they are worth?. also do you have any idea who the 2nd mystery bidder is?. Are they American?. Is there any info on them?. Also I have been checking our friend Nathaniel's twitter no updates for 4 days now does that mean they are out of the running. It seems strange it has all gone quiet on the NVA Ent. front. Also with the comments from Sam stating due dilligence had begun is that his way of saying through the press whoever owns the club give us some funds to strengthen the squad. It seems to me he is hacked off with the situation & is considering his options.

[OscarRaven]

Under twenty??

If this x% is under fan control the club can be steered by the fans until it is sold, which would ideally be never. Almost every post here shows some sort of concern about the future of the club. There would be less concern is a % was owned by 'us' and not a soon to be unknown.

For a teenager my maths obviously isn't good enough to work out the costs and the number of people it will need....

Works in Germany, where they look more to the future then short term unsustainable gains.

Do the sums then.... £40million (purchase) + 10million 'war chest' (rainy day money), base it on 18,000 equal shareholders (laughable at best but it will prove my point). Then of course dont forget ~£350 on top for season ticket, cant do without that income.

[incy wincy little spider]

Do the sums then.... £40million (purchase) + 10million 'war chest' (rainy day money), base it on 18,000 equal shareholders (laughable at best but it will prove my point). Then of course dont forget ~£350 on top for season ticket, cant do without that income.

To buy a percentage? so 10% equates to......£4million + 1 million war chest. £5 million initial outley = 5000 shares each worth £1000. Or 50 000 x £100, whichever way you want it.

Maybe we would end up closer to 25% then 10% in the end, I don't know.

Or maybe it's more of an ideal scenerio and less reality.

[thenodrog]

Don't brandish logic like that around here. It's too dangerous.

Maybe not but there are a number of Walker family owned businesses advertised all around the ground.

[thenodrog]

Has society really gone so utterly **** that we have to be thankful simply for not being run into the ground?

Not at all. If we all simply pay double the average cost of Prem ST's ... say about £1200 each... then we might receive a different attitude from the clubs owners. As long as we bumble along on cheap ST's and low crowds and expect other people to stump up big money simply to bale our arses out in the Prem every single season then we have no right to expect anything off anybody.

[Neil Weaver]

To buy a percentage? so 10% equates to......£4million + 1 million war chest. £5 million initial outley = 5000 shares each worth £1000. Or 50 000 x £100, whichever way you want it.

Maybe we would end up closer to 25% then 10% in the end, I don't know.

Or maybe it's more of an ideal scenerio and less reality.

Before you get carried away, have a look on wikipedia how Ebbsfleet Utd have been getting on.......

However, after one year of ownership a majority of MyFC members failed to renew, with membership numbers dropping from a peak of 32,000 at the time of the takeover to just over 9,000 on deadline day 2009. The club had previously stated that 15,000 was the minimum required.[8]. As of March 2010, two years after the takeover, only 800 out of 4000 members have continued to pay membership fees.

[Guest Kamy100]

Kamy judging by your comments it seems as though you don't think the Indians have the required money to buy the club and they seem to be giving everyone the run around?. Is that the impression you get?. Also have you been able to find out who the other members of his consortium are? & how much they are worth?. also do you have any idea who the 2nd mystery bidder is?. Are they American?. Is there any info on them?. Also I have been checking our friend Nathaniel's twitter no updates for 4 days now does that mean they are out of the running. It seems strange it has all gone quiet on the NVA Ent. front. Also with the comments from Sam stating due dilligence had begun is that his way of saying through the press whoever owns the club give us some funds to strengthen the squad. It seems to me he is hacked off with the situation & is considering his options.

I believe that the Indians do have enough cash to buy the club, however the problem is do they have enough cash to sustain the club and provide more resources than we currently have, I have doubts about that. My other big doubt is about the people involved, in my mind Saurin Shah is nothing more than a front man and there are other people involved. Up until last week I thought that the Thai group was involved but they have now switched their attention to Leicester City, god only knows who the other group is. I don't think that Nathaniel is involved any longer, I am guessing he just introduced both parties to each other.

I think at the moment we need to focus on trying to find out the other members of the Indian Consortium and what the intentions of the Trust are at the moment. Obviously they are very keen to sell but I will still maintain that they will want a buyer who can offer medium/long term sustainability, as I said before there are people involved within the trust who want to carry out Jack's wishes and protect his legacy.

[RevidgeBlue]

Didn't we see exactly what the Trust would do in your scenario when Ince was manager?

Yes, they'd recoup any outlay by instructing the new manager to work within a "budget" of minus 16m the following season.

[RevidgeBlue]

From what I know there are benefaciaries who are determined to see that Jack's wishes are carried out to the letter.

I really struggle to accept the notion that it would have been Jack's wish that the Club be cut adrift without a penny as is the case at present.

My view on it all, and it is just a hunch with nothing to back it up, is that players wages have escalated to such a ridiculous level that no-one, including Jack could have foreseen.

Accordingly, with no disrespect intended to Jack, I think the Trustees and Beneficiaries have turned a blind eye to Jack's original wishes regarding the club and have tried to sweep us under the carpet.

Looked at objectively, who can blame them? If it was your family inheritance would you want it disappearing at the rate of 2m p.a. for the wages of some absolute donkey like Beattie or Benjani or at the rate of 5m p.a. for a top player?

Would you heck, you'd want it all covered by the TV revenue.

[Kelbo]

Big Sam' comments in Aussie press suggest due diligence has started re takeover. It hasn't - I can guarantee that

Taken from Andy Cryers twitter

http://twitter.com/CryerRovers

I would believe Sam more than Andy Cryer!!

come on, andy cryer struggles to get the result right sometimes.