Sale is close - Barnsey

[Grumpy Old Man]

Ahh! Makes sense. So optimism of a deal being done before the start of the season may be misplaced?

Deals take as long as they take. You can set dates you'd like to be done by, but negotiations will last until one side or other decides it's not going to work for them. Could be tomorrow, could be Christmas - that's they way these things go.

 

[Mackereth]

Deals take as long as they take. You can set dates you'd like to be done by, but negotiations will last until one side or other decides it's not going to work for them. Could be tomorrow, could be Christmas - that's they way these things go.

Cheers mate, good insight!

 

[Scootsie]

Surely we would be hearing a lot more of it if a deal was agreed in principle, probably still have Donald here this time next year

We heard nowt prior to Donald taking over though, to be fair.

 

[HarrogateMackem]

If it was watertight, we'd be hearing nothing at all. A deal agreed in principle is the start point of negotiations, not the end. That would normally precede due diligence. They're often called heads of agreement, but more often than not, it's simply a broad agreement on price.

Ok, that makes more sense for me. If we were to choose to believe this (we're all optimistic football fans are we not), would you say that the month between exclusivity to agreeing on a fee is normal? What would they have done in the exclusivity timeframe, just negotiate about how much Covid has deflated the price etc.?

 

[Comeback_Kenwyne]

He's openly said he's going to have a role in recruitment strategy. Being non-exec for a company like Sunderland just means you aren't involved in the day to day running. The director bit is more important than the non-exec bit.

Salaried?

 

[Grumpy Old Man]

Ok, that makes more sense for me. If we were to choose to believe this (we're all optimistic football fans are we not), would you say that the month between exclusivity to agreeing on a fee is normal? What would they have done in the exclusivity timeframe, just negotiate about how much Covid has deflated the price etc.?

It's actually very quick. You'd normally want more than that just for due diligence.

 

[Deleted member 7101]

Deals take as long as they take. You can set dates you'd like to be done by, but negotiations will last until one side or other decides it's not going to work for them. Could be tomorrow, could be Christmas - that's they way these things go.

There'll be mass suicide on here long before we get to Christmas!

 

[Comeback_Kenwyne]

I’ve said this before but Rybololev has done deals with the most prominent American of all!

He'll be used to people like Donald then.

 

[Grumpy Old Man]

Salaried?

Maybe expenses. Most plc non-execs get a flat fee for doing it (usually £30-50k per annum).

 

[HarrogateMackem]

It's actually very quick. You'd normally want more than that just for due diligence.

Is it just a case of fully checking the books/ assets in order to cost the club?

Also, I have another question if I may, would Furhman/ FPP/ the mystery bidder tend to just use local (British) accountants when buying an asset abroad, or would they use people they know and trust from America?

 

[Mackereth]

It's actually very quick. You'd normally want more than that just for due diligence.

Indicator that if ‘true’ it’s someone like sartori/FFP who wouldn’t need as long?

 

[HarrogateMackem]

Indicator that if ‘true’ it’s someone like sartori/FFP who wouldn’t need as long?

I'm sure GOM will reply, but I asked this the other day. Apparently even with Juan/ FPP you would still expect a long time because a lot has changed with COVID, the fact it is a new season, staff changes etc.

 

[Mowgli]

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Storey even talking about the fpp connection taking over

 

[Brett]

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Here is still going

 

[Hendon Mad Frog]

Magnus building the excitement for another quiet Friday then?

 

[The Jarra Wanderer]

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Storey even talking about the fpp connection taking over

The daft twat only tweets as a reaction to snippets of information he’s read on here.

 

[Grumpy Old Man]

Is it just a case of fully checking the books/ assets in order to cost the club?

Also, I have another question if I may, would Furhman/ FPP/ the mystery bidder tend to just use local (British) accountants when buying an asset abroad, or would they use people they know and trust from America?

There are three aspects - financial. legal and football. It's far more in depth than a standard audit, and will look forward as much, if not more. than back. So a forensic consideration of budgets and forecasts, as well as the integrity of the current numbers. All contracts will be crawled over for potential pitfalls, especially where personnel or supplier changes are contemplated. On a cross-border deal, on the assumption you use a large firm as advisors to your existing businesses, you'd use a UK office of your normal advisors (the big 4 all have offices in Newcastle, but, for confidentiality reasons, I'd be inclined to use staff from further afield).

 

[Bradaz1]

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Storey even talking about the fpp connection taking over

I said this the other day, since he came up here to buy a replica shirt from Jackie whites he's changed his phrasing. Maybe rodders told him that their is a deal on the table with the people who already have a stake in the club and unless Donald wants to find £10 from somewhere to pay them off we have to look at their deal first.

or he's just read it on here and he's as much 'itk' as we are

 

[Scootsie]

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Storey even talking about the fpp connection taking over

He’s persistent like I’ll give him that.

 

[Pepe]

If only Storey hadn’t paired up with that walloper Wraith. I would go down his yellow brick road other than the other 3 Alice in Wonderland types.