[Archived] Rovers Might Have Been Sold?

[RevidgeBlue]

Syed's people are back in town for the second time in a matter of days.

Their first visit ended abruptly - probably prompting the manager to say it was 'doubtful' which is the same status I believed it was in on Wednesday.

However they have come back and are intending to have it all in place by Monday.

The Premier League have not done any Fit and Proper Persons test, but want to know where the money is coming from and how it will be spent.

The Syed side are convinced they can do the deal, there are many around - from various areas - who think it will fail.

Fortunately there should be an answer to that very shortly.

Very interesting post- the way I read the bit highlighted is that we want to do the deal and take the money but there are those within BRFC who have their doubts as to whether Mr. Ali Syed will pass the ownership test.

Incidentally, I thought the most significant part of Mr. Ali's press release the other day (apart from confirming the CCJ DID relate to him) was the fact that it was confirmed Mr. Syed's family wealth DID come from farming.

Doesn't sound possible to me to amass a fortune of 8 billion quid by farming 900 acres in India over 150 years. Or am I completely wrong on that?

[patrickvalery]

I fail to believe how Mr Syed has been able to blag his way this far. If he has no funds he has somehow managed to convince the French marketing guru (name escapes me) as well as our board members, trustees and Rothschilds otherwise. The BBC may have unearthed some dirt on him. But we all have skeletons in our cupboard. As Rev says, confirmation of the paid 61k would help matters. But surely if he has done enough to convince our club of his worth then an unpaid congestion charge, true or false, can't prevent him from owning a football club?

In many ways i respect WGA's silence over the last few days. Nothing knee jerk. Nothing rash. They responded to allegations and noting more. They promised silence until the resoltion of the deal, and this much they have stuck to.

All i hope for is some kind of clear decision before the weekend.

[67splitscreen]

Very interesting post- the way I read the bit highlighted is that we want to do the deal and take the money but there are those within BRFC who have their doubts as to whether Mr. Ali Syed will pass the ownership test.

Incidentally, I thought the most significant part of Mr. Ali's press release the other day (apart from confirming the CCJ DID relate to him) was the fact that it was confirmed Mr. Syed's family wealth DID come from farming.

Doesn't sound possible to me to amass a fortune of 8 billion quid by farming 900 acres in India over 150 years. Or am I completely wrong on that?

No your not wrong.

I did some calculations the other day.

Going off current top yields, current market prices for top quality rice, 900 acre, two crops a year, $2.1m pa.

[Craigman]

No your not wrong.

I did some calculations the other day.

Going off current top yields, current market prices for top quality rice, 900 acre, two crops a year, $2.1pa.

That will take a long time to make his money then ! unless of course you meant in millions !

[Doaksie]

I did some calculations the other day.

Going off current top yields, current market prices for top quality rice, 900 acre, two crops a year, $2.1pa.

That's brilliant. Sums up why I like this message board so much.

When Ali Syed asked the fans to do due diligence on him, I bet he never realised how dedicated we can be.

[patrickvalery]

No your not wrong.

I did some calculations the other day.

Going off current top yields, current market prices for top quality rice, 900 acre, two crops a year, $2.1pa.

Has this $8 billion figure been confirmed anywhere? I thought it was anywhere betwee 3-8. If so, the past profit made could easily have been cleverly invested to supplement any farming income.

Something isn't right with the whole thing. I've felt it since the week of interviews Mr Syed gave. But i would have thought it is possible to build fortunes into the billions from investing substantial profits made from previous farming interests. Especially in a country like India with such huge class divide. The rich get richer and all that...

[tonyoz]

Doesn't sound possible to me to amass a fortune of 8 billion quid by farming 900 acres in India over 150 years. Or am I completely wrong on that?

In the interview on the original Goldberg program, Syed says that his family has been in business for 180 odd years and that he is the 9th generation into finance. He didn't mention agriculture on this occasion.

[RevidgeBlue]

No your not wrong.

I did some calculations the other day.

Going off current top yields, current market prices for top quality rice, 900 acre, two crops a year, $2.1pa.

To be fair that would be quite a lot - one fifty lots of 2m dollars since 1860 ish.

If it had also been invested wisely and the interst compounded etc - who knows what it would be worth today?

[JAL]

The failure to pay the CCJ shows the guy Ali up as a dishonorable man.

He deliberately avoided paying it, and only after a BBC investigation that has embarrassed him into paying does he then settle the debt, the guy is not worthy.

How many more outstanding bills, unpaid debts, does this guy have around the world ?

[47er]

Are you in fact, Mr. Goldberg?

Or are you in fact John Dickenson? Well spotted Mark 1875! Obviously time for us all to apologise to the BBC!

The failure to pay the CCJ shows the guy Ali up as a dishonorable man.

He deliberately avoided paying it, and only after a BBC investigation that has embarrassed him into paying does he then settle the debt, the guy is not worthy.

How many more outstanding bills, unpaid debts, does this guy have around the world ?

bit harsh?

[67splitscreen]

To be fair that would be quite a lot - one fifty lots of 2m dollars since 1860 ish.

If it had also been invested wisely and the interst compounded etc - who knows what it would be worth today?

Your forgetting rice prices have escalated dramatical in the last twenty years or so. It was never part of the western worlds diet. That is also the gross figure, I know labour is cheap, BUT!

It is plausible that other types of crops could have been farmed yielding a higher return (opium) who said that., cereals and such like.

Syed has mentioned on numerous occasions he is the ninth generation or something that has been using the family wealth for (lending) other financial gains, no doubt lower than Libor.

[mark1875]

Or are you in fact John Dickenson? Well spotted Mark 1875! Obviously time for us all to apologise to the BBC!

Lmaoooo they'll be waiting a long time for that one

[beerwins]

Well maybe he showed he has enough to pay a £60,000 debt but has he enough to spend the 300 mill as promised? Not just have the 300 mill but have it to waste, there is no profit to owning a prem club and to become an instant fan with enough passion for a club to waste 300 mill without batting an eyelid, takes some doing, even for a billionaire.

I am sceptical, I dont want to be but if I am realistic you have to say that the shadow that has been cast over this deal from the lack of background on Mr Syed makes it hard to be optimistic that it will go through.

As TGM was stating a billionaire from that region of India would have been known (regardless of how badly the BBC cocked it up). Ok so there is the fact that if he wanted to remain anonymous he could but when you look at the website for the horse stables he owns it strikes me as a man who would relish being in the public eye.

Also why the office changes? one minute Bahrain next Switzerland now he seems to be based in london, if your so succesfull how do you relocate so fast?

The main thing for me is Sams comments on how the takeover would'nt happen, Sam is probably the main public speaker for Blackburn Rovers and as that figure he would be the voice that most fans would follow and trust, for him to cast doubt is strange.

It really would'nt surprise me at all if this deal had been dead in the water for a few days now and the trust have been speaking to other interested parties, I dont see an ending to this as soon as some people do.

[RevidgeBlue]

The failure to pay the CCJ shows the guy Ali up as a dishonorable man.

He deliberately avoided paying it, and only after a BBC investigation that has embarrassed him into paying does he then settle the debt, the guy is not worthy.

It's not really possible to say that without knowing more about the background to the case and exactly what it related to.

It could have been something that was bitterly disputed at the time and that he didn't want to pay. The Court case might have then gone through some years later in his absence leaving him no real alternative but to stump up now.

[patrickvalery]

The failure to pay the CCJ shows the guy Ali up as a dishonorable man.

Bloody hell Jal. I wonder how many successful business men/women are honorable. More so how many PL football club owners are. If we want a saint we might be waiting a life time.

[Brfcrule1]

Nicko good article today in the people I have a few questions:

1.) Now that the due diligence period of exclusive runs out tommorrow do you think Mr Ali will be making a bid for the club?

2.) I hear in circles Mr Ali is due in Blackburn tommorrow can you confirm this?

3.) Am a bit confused have heard over the past few days the Prem. Lge have been keeping an eye on this but have had no contact from Rovers so have they applied to the prem. Lge. for their owners test yet or do you think they will apply to the Prem. Lge. this week?.

4.) I have heard a whisper this whole process might be completed by the end of next week how likely this that?

Thanks as ever for your valuable input. Shame you were not able to get a pic of the guy at the game.

[dave birch]

I'm somewhat amazed that a guy who is owed 60K for five years only finds his quarry after a BBC investigation.

Any Commercial agent (Debt Collector) worth his salt would have found him in a matter of weeks.

I know it's been said before but something smacks of wanting to do a job on Mr Ali.

[67splitscreen]

To be fair that would be quite a lot - one fifty lots of 2m dollars since 1860 ish.

If it had also been invested wisely and the interst compounded etc - who knows what it would be worth today?

$2.1m for 20 years compounded annually @ 5% = $56m I think.

[RevidgeBlue]

It really would'nt surprise me at all if this deal had been dead in the water for a few days now and the trust have been speaking to other interested parties, I dont see an ending to this as soon as some people do.

Agreed - even if Mr. Syed gets to the ownership test that's at least another ten days isn't it?

As far as other interested parties are concerned I'm not overly convinced we have a string of rival bidders lining up behind to buy us - why would anyone who's genuinely interested wait for another party to enter into a period of exclusivity before declaring their hand?

If Mr. Syed had completed within the relevant period the new parties would be out of the game before it had even started.

[67splitscreen]

That will take a long time to make his money then ! unless of course you meant in millions !

m

[beerwins]

Agreed - even if Mr. Syed gets to the ownership test that's at least another ten days isn't it?

As far as other interested parties are concerned I'm not overly convinced we have a string of rival bidders lining up behind to buy us - why would anyone who's genuinely interested wait for another party to enter into a period of exclusivity before declaring their hand?

If Mr. Syed had completed within the relevant period the new parties would be out of the game before it had even started.

I think Shah could still be a player, and others were mentioned too plus the fact that if there were no other interested parties why was there so much flapping last week to get the deal done?

I do think the club will be sold but I dont believe it will be sold in the next month, buying off a trust seems a complex thing not to mention we have to travel to every single part of India to see if anybody has heard of the buyer.

[modes98]

A little bit of detective work here, I reckon John Dickenson is in fact the JohnD posting on this very forum. Shock Horror

Where is the evidence the BBC have pulled out tonight? Nobody has mentioned anything at all, for the awful allegations that he failed to repay a landlord and a congestion charge bill.

The failure to pay the CCJ shows the guy Ali up as a dishonorable man.

Jesus christ. How can he pay a CCJ he doesn't know about? The british legal system should have done a better job of tracking him down. Afterall he is a billionaire.

[rebelmswar]

Jesus christ. How can he pay a CCJ he doesn't know about? The british legal system should have done a better job of tracking him down. Afterall he is a billionaire.

You forget that this is a perfect world populated by perfect people, any imperfection is perfectly imperfect.

Just ask some posters.

[thenodrog]

Doesn't sound possible to me to amass a fortune of 8 billion quid by farming 900 acres in India over 150 years. Or am I completely wrong on that?

Not if the main crop are Money Trees.

[rebelmswar]

Not if the main crop are Money Trees.

Can I have a cutting?