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Sale is close - Barnsey

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Guinness Guzzler said:
Doubt he will tbh. We're likely to lose a lot of money this season, especially due to Covid. If we go up you get about £6m more or so, but with wage rises and the odd signing we'd need to make to be even slightly competitive I doubt we'd be any better off. I doubt he can afford to cling on, losing money every month and then hope to sell a club in a worse financial position. Even with being in a higher league (which a good start doesn't guarantee) he'd need to hope he'd get a bigger bid and that it could go through this time etc. If he has a willing buyer now it would make sense to sell regardless of the start of the season, as long as it is vaguely near what he expects.
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I hope he's read this and agrees!
 

KittenMittens said:
Yes on both counts.

My source was inside the Madrid part of the deal, not someone who was an acquaintance or a second hand source, someone inside the inner workings of the deal as much as that is possible.

Donald was brought on exactly as the article mentioned says, as a minority investor. He was seen as a key link because he'd had experience of ownership in lower leagues of English football. We can all second guess that thinking now, but we've also all seen he can talk a good game... he was meant to be the CEO like Jim Rodwell, but with a significant stake.

After the article was published, they moved ahead and were very close to completing, but in the penultimate week, he demanded that instead of being a minority owner, they split the deal 33% for Donald, 33% for person X (who I now think was Sartori) and 33% for Madrid.

Of course, Madrid knew that if Person X and Donald were friends and aligned on how to run us, this would leave them as the real minority in the business and declined to do that, but Donald refused to budge and they didn't want to go in on their own (this is a big thing as most investors like to share risk and their previous experience was Segunda Liga in Spain and below). They pulled out, leaving Donald to do the deal on his own. Their opinion of him was basically mud after he pulled this stunt and blew up the deal because he wanted to be the guy in charge.

Whether the deal to do us was tacitly broached by Donald/Methven with Short before he pulled the heel turn I don't know, but I suspect that Donald identified a way to get the deal done using the parachute payments during the financial discussions as a consortium, realised he could do it himself if Short was in on it, and then decided to make his Spanish partners an offer they couldn't accept.
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Shithouse trick. What a surprise!
 
Dearie, dearie me. Anyone who's been in and around anything like this knows that any deal will be signed off between 3am and dawn after the lawyers have pulled an all-nighter (on premium rates) before agreeing on the draft they started arguing about <insert large positive integer>hours before. Especially over a weekend, and double especially over a bank holiday weekend. Don't expect anything before Tuesday next week.
 
Grumpy Old Man said:
Dearie, dearie me. Anyone who's been in and around anything like this knows that any deal will be signed off between 3am and dawn after the lawyers have pulled an all-nighter (on premium rates) before agreeing on the draft they started arguing about <insert large positive integer>hours before. Especially over a weekend, and double especially over a bank holiday weekend. Don't expect anything before Tuesday next week.
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just confirmation of more talks going ahead today will suffice for me 👍
 
Grumpy Old Man said:
Dearie, dearie me. Anyone who's been in and around anything like this knows that any deal will be signed off between 3am and dawn after the lawyers have pulled an all-nighter (on premium rates) before agreeing on the draft they started arguing about <insert large positive integer>hours before. Especially over a weekend, and double especially over a bank holiday weekend. Don't expect anything before Tuesday next week.
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And hopefully expect something positive on or around Tuesday/Wednesday next week 😉.🙏
Grumpy Old Man said:
Won't happen if the NDA is working properly. If they're being careful, the talks won't even be in the North East.
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Some talks to date have been in Oxford.
 
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Grumpy Old Man said:
Dearie, dearie me. Anyone who's been in and around anything like this knows that any deal will be signed off between 3am and dawn after the lawyers have pulled an all-nighter (on premium rates) before agreeing on the draft they started arguing about <insert large positive integer>hours before. Especially over a weekend, and double especially over a bank holiday weekend. Don't expect anything before Tuesday next week.
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We did a business sale last year. We were in the solicitors office on completion day at 10am. It dragged on all day until the other party decided that they needed a higher authority approval for one aspect of the deal.
So we all had to come back a week later and even then we were still in the solicitors at 7pm before the deal was final done.
 
wilberforce said:
just confirmation of more talks going ahead today will suffice for me 👍
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The current silence should be interpreted as golden with NDA’s in place and hopefully we will have some positive news soon, after the FPP deal a year ago fell down at the very last minute.
Patience rather than impatience is key this time around. There’s all sorts to deal with from a business perspective, not least having to agree terms with COVID as a backdrop to these negotiations.
 
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Sons of The Wear said:
The current silence should be interpreted as golden with NDA’s in place and hopefully we will have some positive news soon, after the FPP deal a year ago fell down at the very last minute.
Patience rather than impatience is key this time around. There’s all sorts to deal with from a business perspective, not least having to agree terms with COVID as a backdrop to these negotiations.
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hope your right mate 🙏
 
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