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Takeover News/Rumours - Part 42

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vinegar hill said:
What's apparent on this this thread is that no fucker knows fuck all.
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I think some get snippets from somewhere.

But it's the ITK it's not happening and the ITK it is happening that's annoying.

I go with its happening but can understand the complex nature of who spends and who gains after doing nowt must be shite.

Would I pump money in for small shareholders to profit. Would I shite.

Just wished it was full on takeover and stumpy and scenty gob nashed off.
 
sproates33 said:
: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.
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I believe its the case that any owner or director needs to pass the test. Therefore I'd imagine anyone with a shareholding would need to do so. As a result, it might not matter if the shareholding proposed changes from 30% to 60% or whatever, they'd all be held to the same standard.

Additionally I think I'm right in saying (and @Grumpy Old Man will probably know more on it) that the procedure recently changed so that the EFL have to approve at an earlier stage (I think because of people effectively taking over a club and then failing the test).

So it probably isn't beyond the realms of possibility that KLD might be going through the EFL process, especially as it might take a while with him not being based in Britain, but I'd assume that doesn't mean it can't fall through for an unrelated reason in the mean time
 
Guinness Guzzler said:
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.
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Yes they may as well mate as going to Jan with no change at board level will almost certainly finish the season for us as we will be stuck steadfast with these plodders
 
Confucius said:
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"
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The club have took the piss for months with these meetings. There was the non minuted one just to introduce Rodwell to them, then the one that Donald and Sloanes used to attack the fanbase and accuse people of kidnap, and then the one that was cancelled. RAWA ask them for meetings and get fucked about every time but it's generally just accepted bar a sentence on twitter but every time they mention it on twitter someone releases some new info an hour later, presumably to just delay things again.

There was even that nonsense about not wanting to rock the boat when we are winning because it will look silly yet we haven't won in about a month and a half and still no change in attitude than there was then.

There also seems to be some sort of reluctance from the club even to confirm Storey is full of shit. Whole thing is bizarre.
 
Guinness Guzzler said:
I believe its the case that any owner or director needs to pass the test. Therefore I'd imagine anyone with a shareholding would need to do so. As a result, it might not matter if the shareholding proposed changes from 30% to 60% or whatever, they'd all be held to the same standard.

Additionally I think I'm right in saying (and @Grumpy Old Man will probably know more on it) that the procedure recently changed so that the EFL have to approve at an earlier stage (I think because of people effectively taking over a club and then failing the test).

So it probably isn't beyond the realms of possibility that KLD might be going through the EFL process, especially as it might take a while with him not being based in Britain, but I'd assume that doesn't mean it can't fall through for an unrelated reason in the mean time
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I have worked in a due diligence environment for 'Corporate' business for around 5 years. The EFL process might be entirely different however I know for a fact that we always require absolute clarity of percentage of ownership prior to the work being carried out. You are correct however that anyone with 25% ownership or more would require DD carried out, but I haven't yet came across an acquisition sent to us whereby the shareholding has been altered after being submitted, it all sounds very 'Sunderland-y'.
Scootsie said:
Not disputing that, I’m saying you don’t know.
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Have a day off man.
 
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Grumpy Old Man said:
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.
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I understand that but I don’t think that answers my question.
 
Guinness Guzzler said:
I believe its the case that any owner or director needs to pass the test. Therefore I'd imagine anyone with a shareholding would need to do so. As a result, it might not matter if the shareholding proposed changes from 30% to 60% or whatever, they'd all be held to the same standard.

Additionally I think I'm right in saying (and @Grumpy Old Man will probably know more on it) that the procedure recently changed so that the EFL have to approve at an earlier stage (I think because of people effectively taking over a club and then failing the test).

So it probably isn't beyond the realms of possibility that KLD might be going through the EFL process, especially as it might take a while with him not being based in Britain, but I'd assume that doesn't mean it can't fall through for an unrelated reason in the mean time
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The test has certainly been tightened, though I'm not sure of the detail, Upfront approval before completion does seem simple common sense though.
 
sproates33 said:
I have worked in a due diligence environment for 'Corporate' business for around 5 years. The EFL process might be entirely different however I know for a fact that we always require absolute clarity of percentage of ownership prior to the work being carried out.

Have a day off man.
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This is football though and even more it’s the EFL, I doubt they are as professional as you and your employer.
 
Why sack Durban said:
Worried now because you have said that !
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no mate, It's only because he seemed to know about Sartori's "mates in the South of France" whilst the current shareholders weren't sharing any actual names to people. He's been wrong about players coming etc, but he seems pretty clued up on some of the takeover stuff. We should be hoping this means KLD is potentially taking over 50% of the club mind, that would be fantastic..
 
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