Sale is close - Barnsey

[Barney Rubble]

Who knows. People jump at shadows when there's no news, start saying the ITK's don't know what they're talking about, but there are ups and downs in any deal.

Put it this way, I did a deal and my solicitors went back and forth with theirs for months, even after we all agreed that we'd generally like to do it. Mine was simpler because I owned all of the company and there was very little in the way of DD questions.

Process for investment/takeover is usually fairly long even at it's most efficient:

1. Initial meeting to discuss what is ideal for current owner (takeover, investment, debt)
2. Prospective investors go away and decide what they want to do, work out what they are worried about
3. Follow up discussion(s) to learn more about the business, understand the opportunity in real detail and ask those awkward high-level concerns.
4. Depending on how long that goes on for (could be multiple rounds) after that point, the prospective new owner will agree in principle that this is something they are interested in doing.
5. If multiple parties are involved, once all are to the point where they want to do DD, you would usually then agree a period of exclusivity with a preferred bidder.
6. DD begins - even if it's someone who did it before, there's not a chance in hell that DD is relevant to the new reality of the club. I'd expect it to be even more difficult as far as projections and legal situation re: salary cap, covid concerns, contracts.
7. At this point, the prospective buyer will either be happy, or they will not. If the concerns are small scale financial, they may ask for a slight reduction in fee/increase in equity to mitigate it.
8. If the concerns are fundamental, they may walk away completely. If they have none, they will agree to buy the club.
9. From there, there is a legal process that takes as long as it takes to herd cats (solicitors) into creating the documents. There are often back and forths about legal clauses in the agreements. If the owner stays on, there will be more contentious clauses and everything will be very very cautiously dealt with to avoid anyone getting shafted. I've seen some mental clauses that needed binning.
10. For a deal of this size, even if everyone is focused, that last part would take at least a few weeks I'd imagine. I've never personally done a deal this size but I've seen via my lass this part drag on months in trying to structure how payments are made, shareholdings etc
11. At that point, an announcement would be made.

So where are we? I'd guess based on the ITK rumblings, somewhere between 4 and 6, but could be as far on as 8 or as early as 3 and I wouldn't like to say which is more likely. I don't think anyone has agreed to buy the club to the level needed to say the deal is only contingent on the legal contracts, but they may want to buy us if a detailed deal can be worked out.

Good post. I strongly suspect we are between 1 and 5 which really means nowt. A prospective buyer will get the sales patter from the owners and be shown the facilities and attendance figures and all that stuff. Then they get in the data room...£37m for this? Anyone serious or with ambition will know how many more millions need to be ploughed in after they've handed the cash over to Donald. And they will know what he really paid for it.
FPP did this last summer and ended up at your point 8 but decided to maintain interest via the loan - a smart move as they wait and watch Donald struggle.

 

[Black Cat Gypsy]

Second best defence in the league last season would indicate otherwise.

Tells you where the problem is. We aren't creating enough and scoring enough. We need a creative midfielder and striker. Plus we lost McLaughlin who was the main reason for good defensive record.

 

[Flash Gordon]

Read it on the previous page i think. Fair enough.
I’d rather we signed a strong pacy creative attacking mid player as a priority tbh.

Surely we're working on several fronts at the same time? You don't want us to put all other transfers and scouting on hold until we get the attacking midfield player sorted?

 

[phunboy]

Having not read the rest of the thread, why does everyone now think the lad will sign when not so long ago the deal was dead..?

When was it said it was dead? He went home after the trail but that was already planned.

 

[The Cabbage]

Tells you where the problem is. We aren't creating enough and scoring enough. We need a creative midfielder and striker. Plus we lost McLaughlin who was the main reason for good defensive record.

Don’t think McLaughlin was quite that critical tbh. Solid but not the outstanding keeper in the division. That defence should be one of the better ones in the league. Creating and finishing chances is more important to our promotion chances, though - because it’s been our primary weakness for the whole of our stint in this league.

 

[Maravilla]

Tells you where the problem is. We aren't creating enough and scoring enough. We need a creative midfielder and striker. Plus we lost McLaughlin who was the main reason for good defensive record.

Was alarming that Ross couldn't see that was the main issue going into last season. His rhetoric of one of the main objectives being for us to keep 20 clean sheets confirmed that he had learned absolutely nothing from his mistakes in 18/19.

 

[10 Gary Rowells]

Don’t think McLaughlin was quite that critical tbh. Solid but not the outstanding keeper in the division. That defence should be one of the better ones in the league. Creating and finishing chances is more important to our promotion chances, though - because it’s been our primary weakness for the whole of our stint in this league.

I the first season it was our defence that was the problem, particularly CB's. Last season it got better with Willis joining.

 

[The Cabbage]

I the first season it was our defence that was the problem, particularly CB's. Last season it got better with Willis joining.

Going over old ground but it really wasn't. We've struggled to create chances for the past two years. Our defence has always been good enough. It was the sheer lack of threat that we pose that allowed teams to put pressure on leading to the inevitable late equaliser. We give teams so little to worry about that they can just turn the screw. Always susceptible to draws if we are incapable of scoring more than one and don't keep defences occupied. We've been one of the best teams in the league in terms of the quality and volume of chances we give up all throughout. The issue is we've been mid-table for the ones at the other end of the pitch.

 

[10 Gary Rowells]

Going over old ground but it really wasn't. We've struggled to create chances for the past two years. Our defence has always been good enough. It was the sheer lack of threat that we pose that allowed teams to put pressure on leading to the inevitable late equaliser. We give teams so little to worry about that they can just turn the screw. Always susceptible to draws if we are incapable of scoring more than one and don't keep defences occupied. We've been one of the best teams in the league in terms of the quality and volume of chances we give up all throughout. The issue is we've been mid-table for the ones at the other end of the pitch.

Fair points. When we had Maja he would constantly score but he was bullied with his back to goal and his inability to hold the ball really brought pressure on to us. That said Flanagan and Baldwin as a CB pairing were desperate on occasions like Burton and obviously Coventry.

 

[Sam Handwich]

If what was being rumoured last night in correct, we're at 9

That's where i'd assume it to be as well. Should never assume though etc etc

I strongly suspect we are between 1 and 5 which really means nowt

Really. If we are at 1 then there's no takeover happening. Barnesy said we are at 5 weeks ago and DD wasn't an issue. Your glass is half empty mate

 

[houghton cut head]

Don’t think McLaughlin was quite that critical tbh. Solid but not the outstanding keeper in the division. That defence should be one of the better ones in the league. Creating and finishing chances is more important to our promotion chances, though - because it’s been our primary weakness for the whole of our stint in this league.

Spot on Marra

 

[GBSAFC]

Even if I knew I would keep schtum. Why potentially jeopardise a deal.

some people crave attention... some do it to help their fellow fans. For Some its a power trip watching people fawn over them,bobs the latter

 

[The Ghost of Arca]

The mood and tone over the road is starting to change considerably in the last 48 hours i have noticed. From it being played right up after that supposed meeting a few Tuesdays ago to now a one of thinking we are nowhere near again.


Its never ending. I honestly wish if he was staying he would just announce it. I would prefer that cause at least we would all know where we stood instead of this continued situation of false hope

 

[doodlebugs]

It's happening

bound to be someone just bursting out laughing at that,no names springing to mind tho

 

[The Cabbage]

Fair points. When we had Maja he would constantly score but he was bullied with his back to goal and his inability to hold the ball really brought pressure on to us. That said Flanagan and Baldwin as a CB pairing were desperate on occasions like Burton and obviously Coventry.

Yup. Generally our defensive set-up got us through without allowing too many chances. However, we've always got a ricket in us. TBF we probably do even now - albeit less pronounced than with those two in there. Probably always will with league one defenders. Just another reason why the constant focus on clean sheets (from Ross as said earlier in the thread, but also from Parkinson too) is a false economy. We're always at the risk of conceding one from a brain fade. We should be creating and taking enough chances so that one doesn't cost us.

 

[T_Bone]

If I ve read his post right over the road Guinness Guzzler reckons it’s a long way off.

 

[Barney Rubble]

That's where i'd assume it to be as well. Should never assume though etc etc

Really. If we are at 1 then there's no takeover happening. Barnesy said we are at 5 weeks ago and DD wasn't an issue. Your glass is half empty mate

I hope I'm wrong mate and that whoever the potential buyer is will be good for us.

 

[KittenMittens]

@The Ghost of Arca I wouldn't worry about the tone of the ITK chat. Like I said, nothing will happen for the next few days regardless. I haven't read it for obvious reasons, but I'd imagine that nobody really is saying anything is definitely on or off, so take a step back mate. If you go back and forth every day, the next week or two will be a nightmare.

 

[Lovemore]

I don't want it locked. I just wish I could exercise some self control and stop checking it all the time...

Let yourself be.....I check it all the time too, with reservations, but it doesn’t take long to decipher fuck all has happened. As soon as anything truly happens, we’ll all know about it. Not much chance in missing out on any ‘real’ news.

 

[cowan86]

Would not be surprised one bit if Donald was waiting to see how we fair in the first 6 games. He will gamble on us trying to get promoted.