[Archived] Rovers STILL not sold.

[Sparky Marky]

How Exciting....

[Guest Kamy100]

WGA have announced that they have had their period of exclusivity extended:

Western Gulf Advisory ("WGA") announces that the period of exclusivity it was granted in order to conduct due diligence on Blackburn Rovers Football Club has been extended.  This enables WGA to continue to explore the financial situation of the club while ensuring that no other bidder can buy it or look into its books.  Although the due diligence process is taking longer than originally envisaged WGA remains committed to pursuing the opportunity to acquire such a prestigious club." 

[Pete1981]

http://www.lancashiretelegraph.co.uk/sport/football/blackburnrovers/news/8396019.Ali_Syed_remains_committed_in_efforts_to_buy_Blackburn_Rovers/

[RibbleValleyRover]

With WGA claiming to have been given an extension it shows that perhaps the BBC claims didn't do much damage at all? Surely Rothschild's will have delved deeper into Syed, his background and his financial situation after Goldberg’s investigation. If he has indeed been given more ‘exclusivity time’ then surely he has the finances in place to do a deal?

Good spot there EwoodGlory.

[Guest Kamy100]

I am just on my iPhone, please can mods add this to news section.

[den]

Wow, am I gonna have to update that pic already? That would suggest that the Mystery Indians aren't in the DD process?!?!?!

Kammy?.....

Sounds to me as though Syed paid the £250000 a while ago, while the other Indian bidders - although still technically in due dilligence - haven't got as far as actually paying the dough yet.

[modes98]

I don't know much about the mystery mob apart from the fact that they have been going about their business quietly.

That will endear them to the Trust straight away. They seem to love bidders who keep themselves to themselves and don't leak information.

At least it gives the club a couple of options to explore.

[Iceman]

what the hell now again? hmmm, no other bidder can enter into DD or buy the club. So what about the mystery bidders then?

[rebelmswar]

http://www.lancashiretelegraph.co.uk/sport/football/blackburnrovers/news/8396019.Ali_Syed_remains_committed_in_efforts_to_buy_Blackburn_Rovers/

FFS this is harder to comprehend than if 2001: A Space Odyssey was written and directed by Chaddy.

Still with the exclusivity? Mystery Indians? Mystery Australians? Due diligence?

Nicko, you need the entire contents of the mystery machine to crack this one.

[Guest bluerovers]

Sounds to me as though Syed paid the £250000 a while ago, while the other Indian bidders - although still technically in due dilligence - haven't got as far as actually paying the dough yet.

The WGA statement said that no other party could look at the books, so how can any Due Dilligence be performed by anyone else?

[rebelmswar]

The WGA statement said that no other party could look at the books, so how can any Due Dilligence be performed by anyone else?

Yogi magic?

[Sparky Marky]

I am just on my iPhone, please can mods add this to news section.

[modes98]

I am just on my iPhone, please can mods add this to news section.

I'll do it now Kam.

[Guest Kamy100]

Very interesting developments. If the wording of the statement is correct then clear that the allegations have not hurt the WGA bid. Interesting that the delay in completion of DD is so that they can delve further into Rovers finances. Also clever by them to front this as WGA and not Syed Ali, definite change in PR there!

Finally the mystery bidder has seems to have caused concern in the WGA camp hence extended the exclusivity.

[rovers_rob]

Very interesting developments. If the wording of the statement is correct then clear that the allegations have not hurt the WGA bid. Interesting that the delay in completion of DD is so that they can delve further into Rovers finances. Also clever by them to front this as WGA and not Syed Ali, definite change in PR there!

Finally the mystery bidder has seems to have caused concern in the WGA camp hence extended the exclusivity.

So are their 2 groups currently in DD ?

[Guest Kamy100]

What's your problem mate. That is a press release that was sent to everyone, want to ensure that it is put on the front of our site.

[AndyNeil]

Who said anything about two groups being in DD?

Also is it common place for DD to be extended, or is this a tool being used by WGA to buy some time and let the whole 5live / counter statement episode blow over?

[Tooogs]

Good work Kamy. Nice to be kept updated!

[Tim Southampton Rover]

BRFCS understands that this unnamed party has entered into the due diligence process, but club sources have stressed that it is important to understand the nature of due diligence. A party can, of course, agree to enter due diligence and complete it in any given timeframe as they see fit. However, it is now known that to enter due diligence in the current negotiations there is a fee of £250,000. Now, this may seem significant but it does not need to be paid up front. There are varying levels of due diligence that a party can enter, and the fee is only payable when the party gets to a certain level of due diligence.

Assuming that two clubs are in DD with Blackburn. Could this mean that until they have viewed the financial part of the club, the unnamed party do not have to pay upfront to enter DD. They could technically view other areas of the club but if they wish to then view the financial documents of the club they would then have to wait until Syed's party's exclusivitiy has run out?

WGA currently has access to the finances and are saying that the club cannot be sold to another party whilst they are in DD. Therefore someone is either jumping the gun a bit on the unnamed party or there are other rules relating to DD which I am not aware of. Anyone wish to go into detail about the rules regarding multiple companies in DD whilst taking into consideration what the WGA statement says?

Who said anything about two groups being in DD?

We are assuming this because of the statement released by BRFCS saying "BRFCS understands that this unnamed party has entered into the due diligence process" and also the statement by WGA saying "This enables WGA to continue to explore the financial situation of the club while ensuring that no other bidder can buy it or look into its books"

[den]

Assuming that two clubs are in DD with Blackburn. Could this mean that until they have viewed the financial part of the club, the unnamed party do not have to pay upfront to enter DD. They could technically view other areas of the club but if they wish to then view the financial documents of the club they would then have to wait until Syed's party's exclusivitiy has run out?

WGA currently has access to the finances and are saying that the club cannot be sold to another party whilst they are in DD. Therefore someone is either jumping the gun a bit on the unnamed party or there are other rules relating to DD which I am not aware of. Anyone wish to go into detail about the rules regarding multiple companies in DD whilst taking into consideration what the WGA statement says?

Like I said - and it's only a guess - Syed has probably paid the £25000 that gives him exclusivity. Technically the second group are in due dilligence, but that doesn't give them access to the books.

The only other alternative, is that the second group are not in due diligence.

[Tim Southampton Rover]

Bit of info on Anil Ambani

The year's biggest gainer, Anil Ambani, is up $23.8 billion in the past year, and is closing gap with estranged brother, Mukesh, who ranks one spot ahead of him in the world at number five. The sons inherited their fortune from their late father, renowned industrialist Dhirubhai Ambani. But they couldn't get along and in 2005 their mother brokered a peace settlement breaking up the family's assets. A marathon runner, his biggest asset is his 65% stake in telecom venture Reliance Communications. He recently raised $3 billion from the highly anticipated initial offering of his Reliance Power, the biggest in India's history. Despite the hype, the stock tumbled 17% immediately after its February listing. In a bid to appease investors, company's board recently approved the issue of bonus shares. Still feuding with brother Mukesh: battling him in court over a gas-supply agreement.

Surely we could just mention to Anil that his brother Mukesh wants to buy Blackburn Rovers and invest a billion every 5 years and also suggest that Mukesh has been openly saying that Anil would never be so brave and invest in a football team because he doesn't have the gonads like himself.

Hopefully that will then make Anil respond with....ACTUALLY brother, I do have the gonads. Blackburn - here is 1.5 billion and I am now your new owner. Expect another 1.5 billion in 5 years time. HA! Mukesh. I am the best brother.

[67splitscreen]

Or we have not completed our investigations but Syed has and as such we have agreed to the extension.

More likely IMO.

[ABBEY]

so weve had 1000's of pages on transfers and new owners and now as winter beckons weve had a freebie and a loan...cant wait for the millionth page.

[Sparky Marky]

Bit of info on Anil Ambani

Surely we could just mention to Anil that his brother Mukesh wants to buy Blackburn Rovers and invest a billion every 5 years and also suggest that Mukesh has been openly saying that Anil would never be so brave and invest in a football team because he doesn't have the gonads like himself.

Hopefully that will then make Anil respond with....ACTUALLY brother, I do have the gonads. Blackburn - here is 1.5 billion and I am now your new owner. Expect another 1.5 billion in 5 years time. HA! Mukesh. I am the best brother.

Now, that's what I'm talking about....

[Glenn]

so weve had 1000's of pages on transfers and new owners and now as winter beckons weve had a freebie and a loan...cant wait for the millionth page.

millionth page is a long way off, we've only just passed 600,000 posts in over a decade.

Anil Ambani has previously considered purchasing Newcastle (mentioned above) and Everton. So he would be my fist choice of likely mysterious Indian bidders.

Other than a direct quote from his camp yesterday saying he wasn't.

However, speculation linking Mukesh Ambani to the club is premature - Mr Ambani's spokesperson has confirmed that he is not interested in purchasing a football club at the moment.