[Archived] Rovers Might Have Been Sold?

[John]

I was speaking to a Liverpool fan yesterday. What he thought about Rothschilds was nobody's business and certainly wasn't printable on here or anywhere else.

Have heard that before - let's just say there is a slight hatred there.

Moores (ex Liverpool owner), in an open letter to fans, stated that as Rothcilds were involved in Hicks/Gillett taking over, it provided him with assurances at the time.

and they received assurances from Rothschilds, one of the most respected names in global finance, who vouched for both Tom Hicks and George Gillett.

ps - have posted this around 3 times over the past month, I love how this thread goes round and round in circles....

[TimmyJimmy]

Yup Rothschilds are playing a real blinder, we've been for sale for three years or more and so far they've managed to come up with Dan Williams, Saurin Shah, neither of whom seemingly had enough money to get to the due dilligence stage, and this chap who has been allowed to inspect the books. Whether he has the money to complete the purchase, well, the proof of the pudding will be in the eating.

RB you need to look at the definition of Escrow on wiki.

[Guest bluerovers]

Can you imagine the kind of endless speculation the media would be doing if this was Liverpool?

[CrazyIvan]

Quite how that relates to my post I have no idea. The original was asking "when have the owners ever let us down?'

My reply was "in the transfer window" What have the Glaziers and Manu got to do with it?

EDIT----Yeah sorry, the original post did refer to the Rovers board and team. That's the problem with replying to posts 2 or 3 times removed! Having said that I'm not sure what the board has done or could have done that's relevant. This is the takeover

thread and the board is in the hands of the Trust isn't it? Still wondering where the Glaziers fit in!

I think things are getting a bit confused here. I never mentioned the Glazers. I do think the board and the team Rovers have put together have got Rovers best interests at heart and they'll be going through this deal with a fine tooth comb to make sure this is a deal that's good for Rovers. I think the Trust just want rid...

[Moppy]

thread and the board is in the hands of the Trust isn't it? Still wondering where the Glaziers fit in!

From your last post

"the only club in the Premier League not to get any financial assistance from their owners?"

You are saying that all the other owners have given financial assistance to their clubs, including the Glaziers. If what the Glaziers have done at OT is considered assistance we can do without it. The owners might not have given us funds but they also haven't taken them out or crippled us with debt, I think people should be more greatful for that. Yes we need new investment, they acknowledge that and are looking to sell us so someone else can provide it as it's not in their intrests to do so.

[philipl]

It is most likely an accommodation address in Switzerland at the moment whilst they are growing.

WGA Sports AG is a new company and has been set up specifically to acquire and own Rovers.

Picking through the numerous SMS and other forms of messages that have come my way this morning, I'd back up Hughesy's post that we are unlikely to hear anything from anybody today and I would add tomorrow looks like being blank at the moment as well.

However, I believe that as of yesterday morning there are at least four serious bidders talking to Rothschilds with Ali Syed clearly ahead of the others but having serious question marks in the public domain. Enough time has now passed to be confident that for good or bad, those questions will have been answered in private; by now a non-reply would be interpreted as confirmation of the worst.

I am having more doubts about the provenance of the panic-inducing message from yesterday about the Ali bid having failed but I am not ruling out the possibility it is in serious trouble. I'd say it is 99% certain that Rovers will have new owners by Christmas but I would reduce the betting on that owner being Syed Ali to perhaps only 60/40 on.

[RevidgeBlue]

RB you need to look at the definition of Escrow on wiki.

You'll have to explain that cryptic comment I'm afraid.

[John]

edit: wrong thread!

[deryck guyler's spoon]

You'll have to explain that cryptic comment I'm afraid.

I wiki'd it but gave up after the first paragraph.

I am a bit thick though

[Dufflite]

You'll have to explain that cryptic comment I'm afraid.

Escrow - the holding of funds, documents, securities, and other property by an impartial third party for the other two participants in a business transaction. When the transaction is completed, the escrow agent releases the entrusted property. ie Piggy in the middle with one set of balls in each hand.

[waggy]

turns out these indians are indeed cowboys,i know most on here cream themselves when a new owner appears on the horizon,but you only had to look at claude van dame,and nioma campbell strutting into ewood park all those weeks ago to realise they were just on a pr ride

[alexanders]

turns out these indians are indeed cowboys,i know most on here cream themselves when a new owner appears on the horizon,but you only had to look at claude van dame,and nioma campbell strutting into ewood park all those weeks ago to realise they were just on a pr ride

Oh how I missed u.

[47er]

but who has a better team for that outspending?

We had a deal for Popov but decided against it because Roberts stayed, so we weren't outbid just pulled out of the agreed deal.

I don't remember anyone claiming we were outbid for Popov, we pulled out because without selling Roberts we didn't have 1.5M Euros! Not exactly a vast sum by Premier league standards.

And you would expect us to have a better team than Blackpool wouldn't you? After all we've been in the Premier League for all

but 2 years and they haven't seen top flight football for decades. Give it a couple more seasons without a takeover though and who knows?

[MikeB]

Been at the Turd Moor facilities this morning for a meeting.

Always nice to have a chat with whoever may be around - for what it's worth, the Burnley lot are bricking it because they actually feel that Ali is the real deal and will complete. They are deluded because they actually think, assuming no takeover, that come 2011/12, they will almost be able to complete with Rovers on level terms!

[RevidgeBlue]

Escrow - the holding of funds, documents, securities, and other property by an impartial third party for the other two participants in a business transaction. When the transaction is completed, the escrow agent releases the entrusted property. ie Piggy in the middle with one set of balls in each hand.

Yes I read the definition - completely irrelevant, that's not Rothschilds role.

Their role is to find us potential buyers and vet their suitability. Not just hold funds in their Bank Account.

turns out these indians are indeed cowboys,i know most on here cream themselves when a new owner appears on the horizon,but you only had to look at claude van dame,and nioma campbell strutting into ewood park all those weeks ago to realise they were just on a pr ride

You just didn't like him because he proposed to back sam

[47er]

I think things are getting a bit confused here. I never mentioned the Glazers. I do think the board and the team Rovers have put together have got Rovers best interests at heart and they'll be going through this deal with a fine tooth comb to make sure this is a deal that's good for Rovers. I think the Trust just want rid...

Surely the Trust will be going through this with a fine-tooth comb won't they? Aren't they the custodians of Jack's settlement? Do you think the board can say "No don't sell" if the Trust say "sell"? They'll take as much notice of the board as they want to. I think you're getting the power base confused here.

[ewoodpo]

turns out these indians are indeed cowboys,i know most on here cream themselves when a new owner appears on the horizon,but you only had to look at claude van dame,and nioma campbell strutting into ewood park all those weeks ago to realise they were just on a pr ride

Waggy I am inclined to agree with you on that one, mind you it's just this once.

[philipl]

The question Revidge posed was whether Ali Sayed has the funds.

The significance of escrow is that some people around here are confident that some of his funds are already not in his bank account but in an account which would automatically be released to the Trust on completion and signature of all the sale documents. The third party holding the escrow would be a lawyer's client account (normally the lawyers of the selling party) and not Rothschilds.

I have to say it would be unusual for knowledge of funds going into escrow in a lawyer's office to escape from the lawyer's office but this sale is proving to be anything but usual.

[Dufflite]

turns out these indians are indeed cowboys,i know most on here cream themselves when a new owner appears on the horizon,but you only had to look at claude van dame,and nioma campbell strutting into ewood park all those weeks ago to realise they were just on a pr ride

A very, very expensive PR parade. As I said previously, this will have cost a small fortune for BOTH parties so far. Money that Blackburn Rovers cannot afford to loose. Last minute panics are usual in these situations - do not underestimate the relevance of timing in a business acquisition / take over. Skeletons usually make an appearance in the first week of DD which is when everyone puts their wallets away and makes a sharp exit. This has nearly gone the whole way so I would very much doubt that IF there are issues they are between BRFC and the potential buyer.

[philipl]

A very, very expensive PR parade. As I said previously, this will have cost a small fortune for BOTH parties so far. Money that Blackburn Rovers cannot afford to loose. Last minute panics are usual in these situations - do not underestimate the relevance of timing in a business acquisition / take over. Skeletons usually make an appearance in the first week of DD which is when everyone puts their wallets away and makes a sharp exit. This has nearly gone the whole way so I would very much doubt that IF there are issues they are between BRFC and the potential buyer.

The Trust are picking up the tab for this exercise in the event of Rovers not being sold I believe. Yet another example of how incredibly fortunate Rovers are to have the Trust as owners.

[RevidgeBlue]

The question Revidge posed was whether Ali Sayed has the funds.

The significance of escrow is that some people around here are confident that some of his funds are already not in his bank account but in an account which would automatically be released to the Trust on completion and signature of all the sale documents. The third party holding the escrow would be a lawyer's client account (normally the lawyers of the selling party) and not Rothschilds.

I have to say it would be very unusual for knowledge of funds going into escrow in a lawyer's office but then this sale is proving to be anything but usual.

In any event, that sounds highly unlikely. What would happen if the sale were to break down through no fault of Syed's?. What would happen if the sale broke down with no blame attached to either side? What would happen if the sale broke down but there was a dispute over whose fault it was?

Who would pocket the interest for the relevant period?

[Guest bluerovers]

OK guys, thought I'd try and discover who this Australian Trio are seeing as we might have to turn to them right now. From Forbes lists of Billionaires here's the list of people the mystery group from down under could include...

Blair Parry Okeden

$5bn

Richest man in Australia, US born Blair is a media mogul and owns 15 TV Stations. Made a lot of his money through advertising which is now dwindling, could Blair see the EPL as an advertising goldmine?

Andrew Forrest

$4.1bn

World's richest Australian, amature boxing shows an interest in sport but was once accused of "misleading shareholders" so do Rovers need another shaky past to deal with?

Frank Lowly

$3.6bn

At 79 Lowly may be considered to old to be thinking about buying a Premier League club, however this billionaire is the President of Football Federation Australia, leading their bid for the 2018 WC and a former shareholder in Sydney FC. Could Emerton have had a word? Also been investigated on financial grounds however...

James Packer

$3.5bn

The 42 year old inherited $5bn but lost a lot in the recession. Involved in media, gambling and retail. Maybe he wants to blow the rest of daddy's cash on an East Lancashire football club?

Harry Triguboff

$3.0bn

Self made billionaire Harry is approaching his 80s and with the real estate market right now it's unlikely he fancies buying a football club in Blighty.

John Gandel

$2.4bn

Sepp Blatter lookalike Gandel is quite old, but he hates debts which would make us an attractive club to buy. Let's just hope if he is involved his ideas aren't a stupid as his dopple-ganger's at FIFA.

Kerr Neilson

$2.2bn

Claims to have $16bn in investments under his control and his bio sounds scarily like Mr Syed's (only more trustworthy).

Gina Rinehart

$2.0bn

A woman buying a football team? Surely not? Well as long as she doesn't do a Delia at half time. The only billionaire with a solif link to another in that she is working with Andrew Forrest (above).

Lindsay Fox

$1.5bn

"BLACKBUWN WOVERS, TALK TO ME!", is that Terry Tibbs? No it's Lyndsay Fox, he may have a girl's name but a working class man if ever I saw one. He loves cars and maybe he feels like splashing out on a bit of Soccer in his old age...

Geralh Harvey

$1.3bn

Harvey is a retail magnate (a super rich Theo Paphitis to the layman) but on the wrong side of 70. Loves horses like a certain Indoan we know...

Michael Mintze

$1.1bn

London based, has $8bn in assests under management and in unlisted funds...someone get down to his apartment and check he's paying the rent and keeping it clean!!!! Oh and better get a primary school maths teacher to analyze his accounts pronto!

Solomon Lew

$1.0bn

So Jewish he wouldn't look out of place in an episode of Curb Your Enthusiam. Retail billionaire Lew is unlikely to want to buy a club in an area with a high Muslim population but you never know...

So the Oz trio could be made up of three, two, one or none of the people above... Interesting to speculate whilst we wait for this agonising Syed silence to be broken..

[philipl]

In any event, that sounds highly unlikely. What would happen if the sale were to break down through no fault of Syed's?. What would happen if the sale broke down with no blame attached to either side? What would happen if the sale broke down but there was a dispute over whose fault it was?

Who would pocket the interest for the relevant period?

In the event of sale breakdown the money goes back to where it came from. The lawyers only pass it to the seller when there is a sale.

Far from unlikely, escrow in one form or another is used in every transaction of this nature.

[RevidgeBlue]

The Trust are picking up the tab for this exercise in the event of Rovers not being sold I believe. Yet another example of how incredibly fortunate Rovers are to have the Trust as owners.

Still an extremely expensive exercise for Mr. Syed though you would have thought. Which makes you wonder why he would go through the motions if he didn't have the cash.

[Dufflite]

I should also have pointed out that in situations like this that do go pear shape - those that are waiting in the wings are likely to downgrade the value of their offers. This usually results in the seller refusing the lower offer and the bidders disappear over the horizon until the seller relents (which they almost always do). Just a game really but with ridiculously high stakes.