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Author Topic: Has he gone yet?  (Read 98923 times)
JoeMezz

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« Reply #525 on: Sunday, March 14, 2021, 13:42:15 »

I understood the injunction essentially prevents any sale etc of 50% of the shares of the holding company or any dealings in the assets without Standing's consent. He doesn't have to consent.

So I presume if Clem offered £7mil and both parties Power and Standing/Barry felt that was an acceptable offer then Clem could become majority stakeholder?
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The Artist Formerly Known as Audrey

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« Reply #526 on: Sunday, March 14, 2021, 13:55:49 »

According to Clem he has offered in excess of the supposed £7.5m the American company, Able, offered last year - although I find that to be a very high value if the club (but what do I know). Maybe there is a hidden gem raising the value.

Making the figures easy - if Power has valued the club at £10m, he would want £8.5m as his share. As the kerfuffle between him and Standing is whether Standing actually owns 50% of Power’s 85% share of the club, both parties would clear £4.25m from the sale.

What we, or anybody else, doesn’t know is whether Power’s share has been diluted further by any side deals.
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JBZ
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« Reply #527 on: Sunday, March 14, 2021, 13:56:16 »

I assume he would acquire the remaining 85%. I am aware that it has been said on this forum that Standing also 'wants out' or words to that effect.  Is anyone ITK when it comes to Standing?
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« Reply #528 on: Sunday, March 14, 2021, 14:07:49 »

According to Clem he has offered in excess of the supposed £7.5m the American company, Able, offered last year - although I find that to be a very high value if the club (but what do I know). Maybe there is a hidden gem raising the value.
I suspect the "hidden gem" is hidden in plain sight - the training ground land with it's shiny new planning permission for houses. I'd guess that's also likely to be where any difference in valuation comes - Power thinks the club alone is worth the £7.5m the Americans supposedly offered, Morfuni has offered, let's say to illustrate the point, £8.5m to include the training ground land. So Morfuni can say he's offered more than the Americans and Power feels he's offered less (because the land with planning permission is worth more than the difference). All this is just guesswork but I suspect it's not a million miles off
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JBZ
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« Reply #529 on: Sunday, March 14, 2021, 14:12:59 »

I know nothing about Morfuni and he may well be the saviour that many think he might be.  However, I doubt that any interest is driven by altruistic reasons alone.  The detail of any alleged offer would make interesting reading (I assume this is not currently available).
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« Reply #530 on: Sunday, March 14, 2021, 14:13:09 »

I suspect the "hidden gem" is hidden in plain sight - the training ground land with it's shiny new planning permission for houses. I'd guess that's also likely to be where any difference in valuation comes - Power thinks the club alone is worth the £7.5m the Americans supposedly offered, Morfuni has offered, let's say to illustrate the point, £8.5m to include the training ground land. So Morfuni can say he's offered more than the Americans and Power feels he's offered less (because the land with planning permission is worth more than the difference). All this is just guesswork but I suspect it's not a million miles off

All sounds very plausible. One could assume that the training ground is a massive sticking point and could well be the only reason Power is still here. Based on nothing other than speculation/plausibility
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The Artist Formerly Known as Audrey

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« Reply #531 on: Sunday, March 14, 2021, 14:22:29 »

Again, just presuming, but wouldn’t Power retain the golf club land that’s got residential planning granted for his own benefit - does he own it personally, away entirely from the club?

I can see him flogging off the slice of the golf course earmarked for the training ground, but Clem et al wouldn’t be forced to buy it. Hope we don’t end up renting it from him.
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Hunk

« Reply #532 on: Sunday, March 14, 2021, 14:31:39 »

Again, just presuming, but wouldn’t Power retain the golf club land that’s got residential planning granted for his own benefit - does he own it personally, away entirely from the club?

I can see him flogging off the slice of the golf course earmarked for the training ground, but Clem et al wouldn’t be forced to buy it. Hope we don’t end up renting it from him.

No idea, the legal complexities of this whole debacle are rather beyond me. That’s why I really don’t trust my judgement on anything to do with this, can only go on gut feeling
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flammableBen

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« Reply #533 on: Sunday, March 14, 2021, 14:39:30 »

Is Sheridan still here? Got hammered last night in hope of announcement and still a bit drunk. Is it best to plough through until Monday? Need to get some more wine
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« Reply #534 on: Sunday, March 14, 2021, 14:44:51 »

Again, just presuming, but wouldn’t Power retain the golf club land that’s got residential planning granted for his own benefit - does he own it personally, away entirely from the club?
Yes, so he can choose to sell it along with the club or sell it separately to a developer to build the houses.
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Matchworn Shirts
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« Reply #535 on: Sunday, March 14, 2021, 14:49:29 »

Is Sheridan still here? Got hammered last night in hope of announcement and still a bit drunk. Is it best to plough through until Monday? Need to get some more wine

You might need a few more vats
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singingiiiffy

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« Reply #536 on: Sunday, March 14, 2021, 14:54:03 »

Yes, so he can choose to sell it along with the club or sell it separately to a developer to build the houses.

Didn't power also want the land for his racing stables. Be quite awkward next door neighbours (no pun intended) if power did split up the parcels of land.
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flammableBen

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« Reply #537 on: Sunday, March 14, 2021, 15:20:42 »

You might need a few more vats

Box wine is better for the environment anyway
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Formerly Drummer Boy

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« Reply #538 on: Sunday, March 14, 2021, 15:38:44 »

Power has always said the training ground will go with the club. If Power decides not to sell Twelve Oaks with the club, he’ll be stuck with a plot of land that he won’t be able to build houses on without further costs and an awful lot of fighting. If he’s sensible, he’ll sell it off as job lot minus the horse stables.
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Jimmy HaveHave

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« Reply #539 on: Sunday, March 14, 2021, 15:58:01 »

Are there any gallops close by as it seems pointless having stables without anywhere to train unless he has additional land that he can develop
« Last Edit: Sunday, March 14, 2021, 15:59:40 by Jimmy Quinn » Logged

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