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Author Topic: Wise = cock / Sturrock = legend / Embargo / Takeover  (Read 5342 times)
wheretherealredsare
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« Reply #30 on: Tuesday, November 20, 2007, 08:07:12 »

Dirty Northern ginger cake. Should stick to bonfire night.
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stfctownenda

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« Reply #31 on: Tuesday, November 20, 2007, 08:43:08 »

Quote from: "sonic youth"
don't give a fuck about wise, he was only here ten minutes.

the thing that concerns me is whether fitton does agree to pay off the debts in order to clear the transfer embargo, the ball is no longer in his court and the club can fuck him about.
[/b]

I agree with this 100% I would rather see us slide down the league and Fitton gets everything signed and sealed before handing over any money than him paying the CVA and the board shafting him like they have every other investor.  Sorry Mr Sturrock but we can wait till January for players if we have a bad December it wont be the end of our season.
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janaage
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« Reply #32 on: Tuesday, November 20, 2007, 09:11:01 »

"if we have a bad December it wont be the end of our season."

no but it could spoil Toni's Christmas, you cold hearted bastard!!
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Robinz

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« Reply #33 on: Tuesday, November 20, 2007, 09:12:23 »

Totally agree with the last post...Fitton, do the job properly and don't give the existing bastards an inch..
STFC will benefit in the end...
  Smiley
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stfctownenda

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« Reply #34 on: Tuesday, November 20, 2007, 09:32:02 »

Quote from: "janaage"
"if we have a bad December it wont be the end of our season."

no but it could spoil Toni's Christmas, you cold hearted bastard!!


 
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wheretherealredsare
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« Reply #35 on: Tuesday, November 20, 2007, 10:03:54 »

Quote from: "sonic youth"
don't give a fuck about wise, he was only here ten minutes.

the thing that concerns me is whether fitton does agree to pay off the debts in order to clear the transfer embargo, the ball is no longer in his court and the club can fuck him about.


As I understand it, the Fitton crew will pay the £900k as part of the deal. With completion on 26/11 latest hopefully, the CVA should be settled within days. Is it not possible for them to underwrite the CVA payment subject to the successful completion, allowing the current owners to settle it, if that can be arranged, in time to lift the embargo? Puts the onus on the seller to ensure the deal goes through whilst the buyer still has the balls.
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Phil_S

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« Reply #36 on: Tuesday, November 20, 2007, 10:20:04 »

The last time an "investor" parted with some money to pay the CVA he was shafted. His name was Bill P. I would hazard a guess that Fitton has learnt by this, & does NOT intend doing the same thing.
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wheretherealredsare
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« Reply #37 on: Tuesday, November 20, 2007, 10:42:09 »

Read it again Phil. I said Fitton would underwrite subject to completion and the current owners may be able to arrange settlement. So he doesn't get shafted because he doesn't part with any money until he would have done anyway.
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ahounsell

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« Reply #38 on: Tuesday, November 20, 2007, 10:46:51 »

Quote from: "wheretherealredsare"
As I understand it, the Fitton crew will pay the £900k as part of the deal. With completion on 26/11 latest hopefully, the CVA should be settled within days. Is it not possible for them to underwrite the CVA payment subject to the successful completion, allowing the current owners to settle it, if that can be arranged, in time to lift the embargo? Puts the onus on the seller to ensure the deal goes through whilst the buyer still has the balls.


The current owners dont have the cash to pay the CVA. If they did they could have paid it in June when it was due.

Fitton could privide whatever guarantees you want, but unless he hands over 900,000 notes, they cant pay the CVA. He quite rightly isnt going to hand over any more cash until the deal is completed.
To be honest he's been extremely generous to hand over enough cash to stave off the revenue for another month.
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Batch
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« Reply #39 on: Tuesday, November 20, 2007, 10:58:17 »

Not sure I understand that at all wheretherealredsare.

Fitton agrees to pay the 900K on completion, so SSW stumps up now?
Surely paying the CVA is a condition of sale anyway so I'm not sure what difference underwriting makes.

Either the current board have the 900K (plan B), or they don't.

edit: ^^^^ what AH  said ^^^^ Arse, must refresh thread more often before posting.
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wheretherealredsare
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« Reply #40 on: Tuesday, November 20, 2007, 11:53:32 »

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The current owners dont have the cash to pay the CVA. If they did they could have paid it in June when it was due.


Plan B or whatever, if the current owners could raise the money for 7 days until reimbursed by the purchaser on completion it may enable the embargo to be lifted.

Quote

Fitton agrees to pay the 900K on completion, so SSW stumps up now?
Surely paying the CVA is a condition of sale anyway so I'm not sure what difference underwriting makes.


As the sale seems to be completing 4 days after the loan window closes, a guarantee or some form of underwriting may enable the CVA to be settled prior to completion.

The point is if AF & co. are going to pay it anyway why can't the men in suits find a way of sorting it out to the benefit of all parties? Being subject to successful completion should make sure that SSW doesn't allow anything to derail the deal and AF gets a business that could still challenge instead of possibly fighting a relegation battle after points deduction.
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neville w

« Reply #41 on: Tuesday, November 20, 2007, 13:06:17 »

It may be finally agreed by the 26th, but that doesn't mean completion.  BEST was all supposed to be agreed at one point.

"Show me the money" and I'll believe it's a done deal. I'm encouraged that

The Fitton crew appear to be acting carefully and thoroughly.
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ahounsell

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« Reply #42 on: Tuesday, November 20, 2007, 13:35:40 »

Quote from: "wheretherealredsare"
Quote

The current owners dont have the cash to pay the CVA. If they did they could have paid it in June when it was due.


Plan B or whatever, if the current owners could raise the money for 7 days until reimbursed by the purchaser on completion it may enable the embargo to be lifted.


It may indeed, but there is no indication that the current owners can raise this kind of cash. If they could why have they been playing russian roulette with the club for the last 4 months?

Quote

The point is if AF & co. are going to pay it anyway why can't the men in suits find a way of sorting it out to the benefit of all parties? Being subject to successful completion should make sure that SSW doesn't allow anything to derail the deal and AF gets a business that could still challenge instead of possibly fighting a relegation battle after points deduction.


You could try to convince the league that they should lft the embargo, because Mr X has agreed to pay the CVA once the deal is completed. I expect this is exactly what Starnes was doing when he went cap in hand to the league the other week, but they werent having any of it.

Remember, even without an embargo, the league have to approve every incoming transfer we make due to the fact we are operating under the CVA. They've cut us plenty of slack already allowing the signings of Paynter, McGovern etc... no doubt on the basis that they were told a takeover was imminent.

Having seen that go up in smoke, it seems that nothing other than hard cash is going to convince them this time and to be honest you cant blame them one bit.

As for SSW being motivated to ensure a successful completion, I would suggest that paying the CVA before completion would have the opposite effect. As it stands, if he fails to do this deal he, and the club, could very well lose a lot more than a few points.
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