Todays adver...

[Tails]

Basically has Fitton shooting down the clubs timescale of er, today, and it goes on to say that it is close but probably won't be done until the end of the month..

One thing I don't understand is that in the article Fitton says a deal has been agreed and an offer has been made... If that is the case why are we waiting until the end of November?? Surely if everythings agreed the takeover could go ahead today and we'd be able to strengthen the squad?? I have no idea how these things work so someone more knowledgable will have to help me out here!

[Peter Venkman]

yes I read that on www.thisisstfc.co.uk looks like it was a push from the club to speed up the whole thing with Mr Fitton.

So we will get no news for at least 2 more weeks by which time there is a good chance the FA/FL will have taken matters in their own hands and do what we are all dreading...the deduction of points etc.

It is concerning now that its taking so long to complete.

[The Grim Reaper]

Of course the club want to speed it up. They are desparete. I'm glad Fitton is sticking to his guns and making sure the deal is done on his terms. The soon as he is in full control and the current incumberants are removed we can have our club back.

[Arriba]

a takeover was agreed with best holdings remember.it means nothing imo,as the minor paperwork turned out to be more than that.
believe it when i see it

[Batch]

I'd imagine the offer was an offer in principle based on certain assumptions, and that Fitton now needs to check everything through to ensure that those assumptions are correct (i.e. complete due diligence). In addition he may need to finalise (sale) contracts,  check his funds are all in place ready to transfer over, etc, etc..

Buying a football club is a lot like buying a house....

[sonic youth]

believe it when i see it

even then it doesn't matter much...

i believe today's mate marked the expiration of the exclusivity/lock in clause, so the club can now wheel out a.n. other investor if neccesary.

[Simon Pieman]

It's soon coming round to protest time. Yay, it's been boring recently  

[Iffy's Onion Bhaji]

Well this is what we all expected really though isn't it? Fitton has already said the deal won't be done until the end of the month however he has also said that a deal has been agreed. Let's hope we don't get a repeat of the 11th hour fiasco that blocked the Best deal.

[Frigby Daser]

When Fitton says that terms have been agreed, thats the Heads of Terms - this outlines the basic principles - price, what shares/assets are in question etc but more than anything indicate that the two sides are working towards buying/selling the company. It's not binding and is only a starting point.

Then  it's down to the nitty gritty - due diligence takes place and on the basis of wat is found, various conditions, warranties and indemnties are negotiated between the parties.

So at the moment Fitton's lot will be making sure that Wills' indemnifies them for any nasty surprises in the future that he cannot ascertain from the books. Wills will be asked to make statement x and y and z about the state of the company - whcih depending on the relaibility of it he will, or will not give. if he gives it, great, for those statements he won't make Fitton will want tyhe price knocked or other concessions given.

And they'll negotiate each and every minor point until they are both relatively happy. Only then will they know whether or not they've got a deal.

From what has been said I don't see that there is anything untoward. The Adver print these quotes but must knwo that most people aren't going to know about the structure of deals like this - and it naturally breeds suspicion and rumour.

[Phil_S]

So, when Holts say that they haven't had an offer, is he just lets say, missing out a few words like "Final & Formal" in an attempt to mislead or did he just forget to insert said words?
Exactly the same as his denial of an offer being received from the Fans Consortium over a year ago ?!
Is this the Diamandis / Holt bid to derail this takeover too ?

[STFC Bart]

Diamandis will go to any length to derail a takeover.

Ask yourself why?

[flammableBen]

No

[Colin Todd]

I think its because he wants to make money from  a CG redevelopment

Am I right Bart, am I right?

[sheepshagger]

could of course also be because Fitton is currently in Australia.........?

[BANGKOK RED]

I remember reading that soon after somebody's (Probably Mr. Holt's) statement that a deal would be concluded by the 16th, the Mr. Fritton replied (Quite sharpish) that it WILL be done EITHER WAY by the end of the month. For me at least this is most definately not a back-track by the Fritton consortium as the only date that they have ever stated is "End of this month"

Bobby Holt's latest statement RE: Plan B, just smacks of incompetent PR. After all we would all agree that a plan B is a good thing IF needed, but he makes it sound as though it IS needed. After why make a statement like that with the knowledge that their will be no statement to make. ':wall:'
':wall:'
Wall. Or did he genuinly not know that an offer has already been made.
':surrender:' ':surrender:'

It is clear that Malakka Diamandis is excluded from these talks, which is without a doubt a very positive thing. Obviously SSW and/or Mr. Fritton have said that they don't won't his input. And surely with SSW being the majority shareholder the buck stops with him right??

I DO NOT like Malakka Diamindis one bit, his statemtent to the press that he bought shares in STFC "for a laugh", and then claiming to be a fan, for me was an insult to us all and to the club. And was he not also previously banned from dealings with football clubs for financial "irregularities" in the past". I don't trust him..... period. (PS Malakka is Greek for wanker).

SSW however I have some sympathy for, I am not professing to be any more knowledgable than any other town fan (Except for STFC BART perhaps). Yet I have a "gut feeling" that the Wells family really are true town supporters and that SSW is, at the most, guilty of incompetence but nothing more. OK there are some questions marks over his head RE: the interest rate for these loans, but I don't "feel" that the interest on the loans was/is SSW's motivation. And let's not forget the fact that if it was not for the knighted gent that our club may have folded a few years back.

The BEST consotium: Good riddance. Jose Veiga is a national celebrity in Portugal, and he got that way through dodgy dealings. Shifty bunch the lot of them.

I am still confident that this deal will still go through. Mr. Fritton for me is being very prudent in his word's and often say's "If" and "Maybe", yet occassionally slips out the the words "When" and "Whilst". I am an experienced sales man and can tell you that the best prospects are always  
the one's who distance themselves to some degree.

Fuck me I ain't babbled some shit tonight ain't I! 4.30 AM here and I is pissed so I gotta get to sleep innit (Going swimming tomorrow at a big fuck off water park wiv waves and stuff, F'in hot n'all out here now)

P.S. PS should remain at the helm no matter what!