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Sale is close - Barnsey

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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.?
 
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.
 
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.

:lol: There'll be mass suicide on here long before we get to Christmas!
 
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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?
 
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).
 
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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
 
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.
 
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