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Takeover News/Rumours - Part 42

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sproates33 said:
How can you send something to be approved if you haven't confirmed the shareholding?

If it had been done, I'm 99.9% sure it would have been announced by the club. It makes zero sense for the club to not say anything.
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That's one journo, plenty others claiming it's with the EFL.
 
Mackem Tommy said:
It's palpable what he's saying. It's possible they're just looking at a different share structure so that % is as it was but voting rights attached to certain classes of shares are higher.

I don't know whether all of that has to be solved pre EFL approval? Presumably if that is the case EFL approval can go ahead anyway as whether he has 40% ownership or 40% ownership with increased voting rights, he still requires approval? @Grumpy Old Man
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EFL approval will be required for anyone forming part of an ownership group. This typically takes much longer for foreign nationals than for UK citizens, as there will be little or no public information regarding things which could lead to failure. This is the reason why Sartori came in later than the other two - it took that extra couple of months for him to get the clearance.
 
Perhaps in future, they should have written into the confidentiality clause that potential buyers are not informed of their support for the Daily Mail, and that they come from down south.
 
mackemglastoid said:
I was under the impression this was with the efl and it just needs ratifying?
The longer this plays out the more chance it has of going tits up. The communication or lack of it from the club is very poor mind.
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It's not really though. What would you expect from them?

They've told us that there's ongoing discussions regarding a deal. They told us when there was a period of exclusivity. They also leaked information to confirm it wasn't William Storey.

Your "impression" is based on something posted on a message board. You can't expect the club to dispel every rumour anyone makes. It's also not realistic to expect them to come out and discuss what they're negotiating. They can't give a timetable and given the way things went with Dell, they'd be daft to do so.

What do you actually want them to communicate?
 
I asked a question before about shares and who puts what in.

I find it strange for example if you put all the coin in when others put nowt in and they get a share if we successful.

Plus Donald gets a few million for selling his shares to Kyril and Juan.

Bastard can't lose.
 
Scootsie said:
And as I said, if it’s with the EFL, why announce it before they’ve made their decision?
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:confused: I said at the very start that if they are still undecided on ownership percentages, it can't be with the EFL. This needs clarifying before any checks are underway.
 
samaistonsrightfoot said:
Just get RAWA to mention the meeting again on twitter and I'm sure we will get another leaked update within an hour.... Again.
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That'll have to happen if this drags on much longer tbh. There are plenty of things aside from the takeover that people want the club to be asked about and some of it is stuff that can't wait for months. Before long there'll be the excuse that they're too busy with the transfer window and can they hold it in February. It was fair enough to delay if there was going to be an imminent change in ownership but if its going to drag on then I think the fans deserve an update. To be fair I'd say its pretty likely RAWA will push for that sooner rather than later.
 
samaistonsrightfoot said:
Just get RAWA to mention the meeting again on twitter and I'm sure we will get another leaked update within an hour.... Again.
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I emailed them last night about the meeting and asked what the next step is. I'm still waiting for a reply, but its about time SD is brought to task about the continual lying and intention of hanging around, which can't possibly be "what is best for the club"
 
Johnsafc said:
You must be logged on to see media items

Finally realised he was getting done over then.
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For me any 'delay' all comes back to the basic question of how you structure the ownership between JS and KLD. I have no doubt that KLD will not get involved unless he has an absolutely watertight shareholder agreement in both his deal with Sartori and his deal with Madrox.

If Sartori and KLD both own 50% of their holding company, which one of them gets the final say when there's a disagreement? If it's KLD, what is Sartori getting out of this deal? If it's Sartori, why would KLD invest a lot of money only to have Sartori administer it? 50/50 is an almost impossible working arrangement if either/both of them want to be hands on, or even just want to ensure that money is spent the way they want it to be, so the answer has to be one of them.

If those things weren't ironed out beforehand in a legal sense, I'd think that would be the moist likely reason why there is a delay, rather than Donald trying to adjust a bid that he has reportedly accepted.
 
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