[Archived] Takeover / Part Takeover ?

[Athlete]

Possibly rather than only.

They might turn it down for a host of reasons:

I) They might not like Nixon blabbing about the offer and maybe any negotiations.

2) They might not like to admit publicly by doing the deal that Seneca can run it better than them.

3) They might not like the inference that 60 million is a lot of money to them.

4) They might be thick

Etc etc

We know they're thick.. Lol

[JHRover]

Also interesting that one of the major partners on the Seneca website is Richard Matthewman, former director of Rovers and son-in-law of Jack Walker....

[BlueMonday]

Okay so who is this Carlos Hank Rhon worth 2 billion who has allegedly approached venkys to buy rovers, some mexican drug lord or what, (all over twitter)

Close friends with Pablo Escobar and Howard Marks(RIP), so he'd breeze the FA Fit And Proper Perons Test.

[koi]

Close friends with Pablo Escobar and Howard Marks(RIP), so he'd breeze the FA Fit And Proper Perons Test.

If they didn't pass him the FA board would soon 'disappear'.

[1arC]

Just looking at Seneca; ian Currie was a director at Bolton for a few years. The other Ian isn't listed as a director.

Seneca used to do a lot of financial planning work for the players when Bolton were established in the premier league. I know they did have some big hitting clients, obviously premier league players needed their millions looking after. I know one of their ex players who used them for his advice.

[allanncd]

I am not an expert on finance so hard to comment and that is why I hope that Seneca will talk about this shortly but my basic understanding is that the proposal is that Venky's relinquish 51% stake in the club, in return Seneca will put £60 million into the club which will be used to turnaround the club and get it challenging for promotion again. The carrot for Venky's is that if we go up then they can sell the remaining 49% and recoup some of the money that they have already put in and they do not need to put any further money into the club. At the moment the way that they are running the club means that they are never likely to get any of the money that they have put in and are required to continuously put more money in.

Rovers are a mismanaged club at all levels, so at the moment running costs are at £20 million but you would hope that someone with the experience that Seneca have would come in and sort out the way the club is operating and manage to bring that figure down significantly.

Arrangements with minority shareholdings are fraught with problems (for both parties). Much better if all the share capital is acquired and the existing debt is converted to a debenture that pays out if certain things happen within a defined time period eg they get 50% of what is currently owed to them if Rovers are promoted to the PL. Also that way they don't pay tax on when it comes out (unlikr dividends).

[Mr. E]

If there is any possibility this can be true, we need both A) every last Rovers fan in nonstop prayer B ) Some kind of communication toward Venkys to force this through. But the FA have allowed Venkys to act as kings, cutting off any and all communication with the club. But surely there must be something that can be done to help?

[TBTF]

Arrangements with minority shareholdings are fraught with problems (for both parties). Much better if all the share capital is acquired and the existing debt is converted to a debenture that pays out if certain things happen within a defined time period eg they get 50% of what is currently owed to them if Rovers are promoted to the PL. Also that way they don't pay tax on when it comes out (unlikr dividends).

None of us know the detail we just have to presume these boys know what they are about and everything would suggest they do.

You clearly know more about these things than we do Allan, but as I said earlier I doubt this is a half arsed plan with gaping holes in it. The pitfalls will have been identified I imagine and what you have suggested could even be the way it looks. We don't know. All we have to go on is a few lines in The Sun which is not exactly the FT !!!

Appearing in there is actually my biggest concern but we know Nixon has claws into Rovers particularly recently so he might have got on the end of something and recent actions at the Club may actually have been in readiness for this.

Who knows. Here's hoping.

[EgyptianPete]

Close friends with Pablo Escobar and Howard Marks(RIP), so he'd breeze the FA Fit And Proper Perons Test.

Fit well in with the venky's then

[joetoots]

Abit of information on Ian Battersby https://beta.companieshouse.gov.uk/officers/4vLR1J_mZ7dV-7byVJrDt1xO3CA/appointments

also Ian Currie aswell https://beta.companieshouse.gov.uk/officers/J_wveeMRsSYY5TADalEV7Mu7TXQ/appointments

[tomphil]

I just hope we can get an answer asap from the venkys I can really see them dragging there heels and leaving us manager less for much of the summer.

Could play right into their hands, no proper manager installed, no new directors and no players signed whilst they mull it over. Only to say a final 'no deal' in August. It'll save them a fortune in wages.

[chor808]

Could play right into their hands, no proper manager installed, no new directors and no players signed whilst they mull it over. Only to say a final 'no deal' in August. It'll save them a fortune in wages.

Stop giving them ideas!

[West Yorks Rover]

Abit of information on Ian Battersby https://beta.companieshouse.gov.uk/officers/4vLR1J_mZ7dV-7byVJrDt1xO3CA/appointments

also Ian Currie aswell https://beta.companieshouse.gov.uk/officers/J_wveeMRsSYY5TADalEV7Mu7TXQ/appointments

Ian Currie's certainly been around a bit, still a director at Bolton according to that too.

[koi]

Must be old data, he resigned in 2004.

[tomphil]

Stop giving them ideas!

They might be one step ahead on that one......

[AggyBlue]

Possibly rather than only.

They might turn it down for a host of reasons:

I) They might not like Nixon blabbing about the offer and maybe any negotiations.

2) They might not like to admit publicly by doing the deal that Seneca can run it better than them.

3) They might not like the inference that 60 million is a lot of money to them.

4) They might be thick

Etc etc

I might be way off the mark here but is this scenario not possible?

They might realise that with 51% the major shareholder appoints the board of directors.

The board of directors can issue shares.

The more shares issued and not acquired by Venky's, dilutes Venky's shareholding.

They could end up owning shares that are virtually worthless if enough new shares are issued.

[dallydally]

Not holding my breath on this proposed deal. The Rao family don't think or act like anyone expects (or wants) them to. If a sound deal could be agreed fantastic but the odds against are incredibly high IMO

[chor808]

They might be one step ahead on that one......

you think? :-)

[Dreyski]

Hoping this isn't the Qataris all over again. The Raos seem to pretend that nobody's at home whenever someone comes calling.

BUT (apologies if this has already been mentioned)

If the 2 Ians want 51% of the club, could Mrs and Mr Desai sell up (as they wanted to last time IIRC) and get Barry White and Confused of Pune to pony up 0.5% each?

Balaji still has his toy; Venkatesh can do whatever it is that he does; and we have people who have a clue as majority shareholders.

Unlikely, but I'm clinging on to whatever I can get here.

[Iceman]

I might be way off the mark here but is this scenario not possible?

They might realise that with 51% the major shareholder appoints the board of directors.

The board of directors can issue shares.

The more shares issued and not acquired by Venky's, dilutes Venky's shareholding.

They could end up owning shares that are virtually worthless if enough new shares are issued.

Venkys shares wouldnt be useless, but they would be wise to give up the 49% quick. The share price could drop and drop, which would then make their 49% useless, but that would be if things dont go well over the next few years.

If things do go well, that 49% could represent alot to them, without them doing a thing. Basically, they would just be normal shareholders, reaping the rewards of the sucess of the majority members who hold the 51%.

Thus if Venkys turn this offer down, they would be pretty stupid imo. If the plan is to go that route though.

Venkys Out, or I'm Out!

[Claytons Left Boot]

As I have said previously, I worked with Ian B in the 1980s, we are the same age and have supported the Rovers for the same amount of time. I haven't seen him in years, however, and whilst I very much doubt he would know the name behind Claytons Left Boot, I bet he could guess given a few minutes.

I am assuming that the two Ian's have impressive persuasive powers because, if I were an investor as part of a consortium, the strategy as outlined by a mixture of Kamy's thoughts and newspaper reports, seems to carry an extremely high degree of risk. To my mind, the £60m could be blown say in three years with both running costs and player purchases and then what?

But what do I know?! There could be twenty 'investors' each putting in £3m with a view to happily writing that amount off against the gamble of the two Ians taking control and getting us to the riches of the promised land.

This is the most exciting thing to happen over the last five and a half years and I sincerely hope they can pull it off.

[Gav]

Someone needs a seat at the table, this could be a way in. Once that's established you can then start to make considered footballing decisions that the owners can take credit for.

Saves face and builds reputations, easy eh 😂

[ABBEY]

Okay so who is this Carlos Hank Rhon worth 2 billion who has allegedly approached venkys to buy rovers, some mexican drug lord or what, (all over twitter)

Venkys are Mexican

Jaun Kerr family

[yoda]

I might be way off the mark here but is this scenario not possible?

They might realise that with 51% the major shareholder appoints the board of directors.

The board of directors can issue shares.

The more shares issued and not acquired by Venky's, dilutes Venky's shareholding.

They could end up owning shares that are virtually worthless if enough new shares are issued.

That is exactly the reason I did not post why 51% is a good ploy. Loose tongues cost lives

[chor808]

http://www.bbc.co.uk/sport/football/36257733