[Archived] Rovers STILL not sold.

[67splitscreen]

Something might prick your finger.

Whatever are you suggesting.

[BuckyRover]

Best Thenodrog post EVER.

Quality

[47er]

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.

And that will be the case forever under the Trust Abbey.

I don't buy this statement at all, there is no way that it should take more than 4 weeks to do DD on a company the size of BRFC that has one main revenue stream and one main expense.

To me this seems like a smokescreen for something else going on behind the scenes.

And,as we all know, there's no smoke without fire.

[47er]

Den, that is nowhere near enough - and you know it.

We need to know who the all the bidders are; where they are from; their tax records since the age of eighteen; who their wives, husbands, boyfriends, girlfriends, gimps, or such are; their favorite type of toothpaste; whether or not they shop at Sainsburys; if they have a “passion” for horticulture; which side they part their hair, if indeed they have hair; and a stool, urine, blood, and sperm/egg sample (delete as appropriate).

I can’t believe you cannot comprehend this. Kamy and you holding all of the answers close to your chest, and making other posters feel small, is bang out of order. We demand facts, and abject speculation, and we want them now.

Don’t make me burn my computer, phone, and house down in protest. My wife, dog, and two cats (sadly the kids are at school) are held at gunpoint, you have 10 minutes to comply, or I will get all ED209 in this b1tch.

And if you got all this info, the "mystery buyer" would be written of on here for talking too much!

[adopted scouser]

Why is our club such a bloody catch anyway ?

We've had 'Rovers might be sold', then 'Rovers still not sold'.

Just wake me up when we have a thread titled 'Rovers sold and he's got bucketloads for new players'

[47er]

Is the point of the extended DD that no-one else can BUY the club while Syed's arrangement is in place? They can look but not make a deal? Gives him the chance to close before he's beaten to it? Just a thought (among very many!).

[Ste B]

And with that 47 er is spot on....

[tony gale's mic]

What do TGM and JohnD think of today's events?

I am only interested in their opinion

With Ali Syed, the issue isn't whether he's got access to the funds somehow to buy the club.

Surely it would be a waste of his time as well as everyone else's if he did.

It's these claims to him being a billionaire, being worth $3-8 billion which I really have trouble believing for various reasons that I've stated earlier. If anything they're more non-Goldberg related and concerns I voiced before the show went out.

Having enough money to buy Rovers "only" requires around £40m and even at that not all of it has to be personal wealth, it can be other people's money, borrowed, invested from other parties etc etc. So long as you show you've got that much money available, you'll keep the Trust interested and negotiations going. I'm pretty sure when he's being searched for proof of funds, the figure that's been looked for in terms of proof is much closer to £40m (apologies if I've got the exact figure slightly wrong) than £3-8 billion.

I maintain that if Portsmouth FC never happened and those people turned up to negotiate with our club, if they went into talks with our lot then since they would have had the cashflow available to buy the club they'd have got pretty far. Who knows if they'd eventually have sold but I don't think that just because Trust are negotiating and opening their books it automatically equals trustworthy buyer. I will say though that IF Syed's bid goes through, that will be an extra filter he jumps through so will boost my confidence a bit more - however people have successfully bought other clubs and still been bad for them.

The latest developments mean three things in my view:

1. Ali Syed's bid hasn't gone through as quickly as either party wouldve thought. Why - who knows.

2. The fact that another party has entered due diligence means there's one other party in particular who have caught the eye of the club as possibly being a better option than the one on the table now

3. Ali Syed's extended exclusivity means very little. As far as I can gather (and by all means, correct me if I'm wrong as this is just recieved wisdom) we can go as far as we like with any of the other parties without signing on the dotted line. So if the other group of Indians seem like a better prospect the club just needs to wait for Ali Syed's period to wear down before completing the deal.

[RoversSG]

I thought the £250k DD fee goes to the accountants/ lawyers etc and not the club? Can someone clarify if we'll be getting anything?

Our club is now like a pretty girl with multiple suitors and is dating one (Syed) but is not ready to enter into an exclusive relationship yet and wants to date others in the meantime(the mysterious Indians, Australians)

Lets just hope the club goes for the one who is able to provide a long, stable relationship rather than the flashy guy.

[philipl]

Ali Syed's wealth and whether it is clean will most certainly have been checked out and verified by now.

For him to be still around that will not be in any doubt.

[tony gale's mic]

Ali Syed's wealth and whether it is clean will most certainly have been checked out and verified by now.

For him to be still around that will not be in any doubt.

Why would they go round seeking out whether this guy is a billionaire when this isn't remotely their concern?

They're not looking for a billionaire.

[philipl]

the £250k is nominal and probably going nowhere except the pockets of the accountants and lawyers working for the Rovers and Trust.

Due diligence on a £50m turn over business is a massive job and the people assisting the club in this will not come cheap.

Think about your own bills from a solicitor then work out what having three of them working none stop 15 hours a day for the last five weeks is costing.

[bluebruce]

I thought the £250k DD fee goes to the accountants/ lawyers etc and not the club? Can someone clarify if we'll be getting anything?

Our club is now like a pretty girl with multiple suitors and is dating one (Syed) but is not ready to enter into an exclusive relationship yet and wants to date others in the meantime(the mysterious Indians, Australians)

Lets just hope the club goes for the one who is able to provide a long, stable relationship rather than the flashy guy.

Whatever happens, it's surely a substantial improvement on the last dance at the disco scenario we had with the transfer window...

[trueblue]

There's one little bit in that latest statement of affairs from the Syed camp that I'm baffled by...

Rovers stated that another party has entered Due Diligence with the club, yet the latest statement says that the exclusivity period has been extended which means no other parties can enter Due Diligence ??

Which is right?

[Bobby G]

I think there are different interpretations and layers of DD which is being loosely used.

[CrazyIvan]

There's one little bit in that latest statement of affairs from the Syed camp that I'm baffled by...

Rovers stated that another party has entered Due Diligence with the club, yet the latest statement says that the exclusivity period has been extended which means no other parties can enter Due Diligence ??

Which is right?

It's like peeling an onion...

[Manoid]

It's like peeling an onion...

Just really really slowly.

[Guest Kamy100]

Interesting that in this morning's LT there is just a very small bit in the inside pgae about yesterday's developments (shows the signficance that the LT are giving to the announcement). With the links that Andy Cryer has within Rovers it is very interesting that he writes that "WGA CLAIM to have extended exclusivity", Rovers have not yet confirmed exactly what the situation is with the exclusivity agreement, my guess is that there may be some disquiet at Ewood about the release of the statement yesterday.

Andy Cryer gets some fearful abuse on here, but there is no doubt that he has superb links within the club, impression I get that he always tries to write stories that are in the best interests of fans and the club, anyhow Andy Cryer also mentions at the end of his short piece that the LT understand that other interested parties have made progress in their bids to buy Rovers.

[47er]

The latest statement do make things substantially clearer if you think about them TGM and others:

1) we can reconcile the apparently contradictory statements about Due Diligence and exclusivity thus;

No exclusivity has been granted to any party in terms of looking through the books BUT Ali Syed has been granted exclusivity in terms of actually making a firm bid for the club ie no-one else can do that until his period of exclusivity has expired.

2) Why would he bother? The best and logical explanation is that the due diligence period has taken longer than he expected and he doesn't want someone else snatching the club before he's finished it.This is really important because:

3) he must feel that there is another party from whom he is in danger of missing out. This fits in with what we have been told viz:that there is another wealthy group/individual from India who is seriously interested and has been granted due diligence ie they are going through the books.

4) It also means that when Syed's people say that their determination to acquire the club remains as strong as ever they are telling the absolute truth.

5) This is a bit more speculative but why would the club/Trust agree to the extension ie allow him to continue with the exclusive right to bid for a specified period of time? One possible (probable) theory is that they favour Syed's bid!

6) Surely the notion that he is a conman/chancer/shyster has been put to bed. Same goes for the BBC "expose" damaging the takeover. The Trust clearly believe he has the money, they are clearing the way for a bid but not preventing others from continuing their interest and why should they?

7) It seems highly probable that the club will be sold to Syed and soon. However if anything were to go wrong there is another group ready to go.

8) Those who have said this is "big news" are right.

Naturally this is merely my deduction and I could finish with egg all over my face but that's what the story tells me. Over to you!!

[Iceman]

what i want to know is what is going on, because 1 day we hear 1 thing, the next day, its something else. An official statement was released yesterday apparently, that they have extended the exclusivity period, yet today its CLAIMED, that they have extended the period. Its all very confusing at this point in time.

another aspect im keen to understand, is why we keep on hearing statemenmts from WGA, Citigate etc, but thus far only 1 official statement from the club. Should the club not ask that WGA or any of their representitives, remain quiet for now and not release statements.

[Iceman]

The latest statement do make things substantially clearer if you think about them TGM and others:

1) we can reconcile the apparently contradictory statements about Due Diligence and exclusivity thus;

No exclusivity has been granted to any party in terms of looking through the books BUT Ali Syed has been granted exclusivity in terms of actually making a firm bid for the club ie no-one else can do that until his period of exclusivity has expired.

2) Why would he bother? The best and logical explanation is that the due diligence period has taken longer than he expected and he doesn't want someone else snatching the club before he's finished it.This is really important because:

3) he must feel that there is another party from whom he is in danger of missing out. This fits in with what we have been told viz:that there is another wealthy group/individual from India who is seriously interested and has been granted due diligence ie they are going through the books.

4) It also means that when Syed's people say that their determination to acquire the club remains as strong as ever they are telling the absolute truth.

5) This is a bit more speculative but why would the club/Trust agree to the extension ie allow him to continue with the exclusive right to bid for a specified period of time? One possible (probable) theory is that they favour Syed's bid!

6) Surely the notion that he is a conman/chancer/shyster has been put to bed. Same goes for the BBC "expose" damaging the takeover. The Trust clearly believe he has the money, they are clearing the way for a bid but not preventing others from continuing their interest and why should they?

7) It seems highly improbable that the club will be sold to Syed and soon. However if anything were to go wrong there is another group ready to go.

8) Those who have said this is "big news" are right.

Naturally this is merely my deduction and I could finish with egg all over my face but that's what the story tells me. Over to you!!

this is a very important point 47er. what the trust are doing, is saying "right, Syed we want you as the owner, we will give you as much time as possible, if you want it, its yours" " if you dont want it, or you are not happy, then we have other guys who are willing and ready to do a deal"

its now up to Syed, and i maintain that Syed is still favourite to buy the club, irrespective of who the other bidders are.

There is no way the trust, will say to the other bidders that they have no chance, because if things go wrong with Syed's bid, then we would have lost all other interested parties. We are at least keeping our options open, or our powder dry

[47er]

this is a very important point 47er. what the trust are doing, is saying "right, Syed we want you as the owner, we will give you as much time as possible, if you want it, its yours" " if you dont want it, or you are not happy, then we have other guys who are willing and ready to do a deal"

its now up to Syed, and i maintain that Syed is still favourite to buy the club, irrespective of who the other bidders are.

There is no way the trust, will say to the other bidders that they have no chance, because if things go wrong with Syed's bid, then we would have lost all other interested parties. We are at least keeping our options open, or our powder dry

Sorry Iceman--quite agree with you but just realised I typed "improbable" when I meant "probable"! Have corrected the original.

[Andy]

Interesting that in this morning's LT there is just a very small bit in the inside pgae about yesterday's developments (shows the signficance that the LT are giving to the announcement). With the links that Andy Cryer has within Rovers it is very interesting that he writes that "WGA CLAIM to have extended exclusivity", Rovers have not yet confirmed exactly what the situation is with the exclusivity agreement, my guess is that there may be some disquiet at Ewood about the release of the statement yesterday.

Andy Cryer gets some fearful abuse on here, but there is no doubt that he has superb links within the club, impression I get that he always tries to write stories that are in the best interests of fans and the club, anyhow Andy Cryer also mentions at the end of his short piece that the LT understand that other interested parties have made progress in their bids to buy Rovers.

I do agree with this - Cryer's contacts are mainly the club's senior management themselves and I'm certainly far more inclined to believe something he write as opposed to some speculating, mainly incorrect tabloid hack.

[HemelRover]

The latest statement do make things substantially clearer if you think about them TGM and others:

1) we can reconcile the apparently contradictory statements about Due Diligence and exclusivity thus;

No exclusivity has been granted to any party in terms of looking through the books BUT Ali Syed has been granted exclusivity in terms of actually making a firm bid for the club ie no-one else can do that until his period of exclusivity has expired.

2) Why would he bother? The best and logical explanation is that the due diligence period has taken longer than he expected and he doesn't want someone else snatching the club before he's finished it.This is really important because:

3) he must feel that there is another party from whom he is in danger of missing out. This fits in with what we have been told viz:that there is another wealthy group/individual from India who is seriously interested and has been granted due diligence ie they are going through the books.

4) It also means that when Syed's people say that their determination to acquire the club remains as strong as ever they are telling the absolute truth.

5) This is a bit more speculative but why would the club/Trust agree to the extension ie allow him to continue with the exclusive right to bid for a specified period of time? One possible (probable) theory is that they favour Syed's bid!

6) Surely the notion that he is a conman/chancer/shyster has been put to bed. Same goes for the BBC "expose" damaging the takeover. The Trust clearly believe he has the money, they are clearing the way for a bid but not preventing others from continuing their interest and why should they?

7) It seems highly probable that the club will be sold to Syed and soon. However if anything were to go wrong there is another group ready to go.

8) Those who have said this is "big news" are right.

Naturally this is merely my deduction and I could finish with egg all over my face but that's what the story tells me. Over to you!!

An excellent post.

[walk down bolton road]

this is a very important point 47er. what the trust are doing, is saying "right, Syed we want you as the owner, we will give you as much time as possible, if you want it, its yours" " if you dont want it, or you are not happy, then we have other guys who are willing and ready to do a deal"

its now up to Syed, and i maintain that Syed is still favourite to buy the club, irrespective of who the other bidders are.

There is no way the trust, will say to the other bidders that they have no chance, because if things go wrong with Syed's bid, then we would have lost all other interested parties. We are at least keeping our options open, or our powder dry

At this moment in time this is a pretty good summing up of the situation,by these two lads.

Excellent posts.