souness

[red macca]

http://news.bbc.co.uk/sport1/hi/football/teams/w/wolverhampton_wanderers/6244319.stm

Fuck letting him run the club but the bit that interests me is that he has stated he has offered £20 million SUBJECT to seeing the clubs account.

Could the consortium not have done that with our board then made them a offer subject to seeing the accounts

[@MacPhlea]

They did - it's called due dilligence...

[red macca]

They did - it's called due dilligence...

I know that but did they offer a figure or just say we know we can afford it we want to buy the club can we see your books please

[hansgruber]

You'd have to be pretty stupid to offer money for any business without seeing the accounts

[red macca]

You'd have to be pretty stupid to offer money for any business without seeing the accounts

I understand that hans but the question im asking is have we offered a figure at all

[Piemonte]

I imagine Wolves have up to date accounts at companies house

[@MacPhlea]

SSW was made an offer pending due dilligence - the exact details of that offer have been posted here but I can't be arsed to locate it but suffice to say the simple answer is yes

[red macca]

SSW was made an offer pending due dilligence - the exact details of that offer have been posted here but I can't be arsed to locate it but suffice to say the simple answer is yes

ah right cheers then.You have to excuse me i dont understand all this

[Fred Elliot]

They did - it's called due dilligence...

I know that but did they offer a figure or just say we know we can afford it we want to buy the club can we see your books please

WW are a completely different kettle of fish Deano.

For a start, they are solvent and not in the throws of a cva.

This basically means they have a positive balance sheet. Therefor someone could table an opening gambit of X ammount of pounds on the understanding that due dilligence could then proceed over the lastest set of audited, approved and filed accounts.

Our situation is vastly different ;

No accounts being filed
The latest accounts not being ratified by the accountants.
Behind with CVA payments etc

We are not solvent !

In order to make the club solvent AND to trade from a positive balance sheet we need to understand the full extent of ALL of the clubs liabilities (debts).

Now in order for that to be understood we need to examine the trading history of the business (due dilligence)

Given the points tabled above, and the clubs unwillingness to grant us that facility, it knocks the WW scaenario into a cocked hat !

[my-velocity]

He was never good as a manager, must have just thought he needed a career change haha.

[lebowski]

he offered £20million because that's the figure that was (supposedly) quoted as being the asking price.

[red macca]

They did - it's called due dilligence...

I know that but did they offer a figure or just say we know we can afford it we want to buy the club can we see your books please

WW are a completely different kettle of fish Deano.

For a start, they are solvent and not in the throws of a cva.

This basically means they have a positive balance sheet. Therefor someone could table an opening gambit of X ammount of pounds on the understanding that due dilligence could then proceed over the lastest set of audited, approved and filed accounts.

Our situation is vastly different ;

No accounts being filed
The latest accounts not being ratified by the accountants.
Behind with CVA payments etc

We are not solvent !

In order to make the club solvent AND to trade from a positive balance sheet we need to understand the full extent of ALL of the clubs liabilities (debts).

Now in order for that to be understood we need to examine the trading history of the business (due dilligence)

Given the points tabled above, and the clubs unwillingness to grant us that facility, it knocks the WW scaenario into a cocked hat !

cheers frederick.Any news on whats going on at the club regarding the takeover seems to have gone a bit quiet

[Fred Elliot]

Yes
It has gone quiet over the XMAS period, and quite rightly so in my opinion.

Everyone at this time of year is entitled to put their feet up and spend some time with their families (and yes I do mean everyone)

Trevor Watkins (Lawyer from Clarke Willmott) was away for Xmas and returns on the 12th.

Mike has been away at family commitments in Europe but is now back in the UK.

Iam sure that once the 12th passes that things will begin to progress.

The break may have been a good thing for all parties

[red macca]

Yes
It has gone quiet over the XMAS period, and quite rightly so in my opinion.

Everyone at this time of year is entitled to put their feet up and spend some time with their families (and yes I do mean everyone)

Trevor Watkins (Lawyer from Clarke Willmott) was away for Xmas and returns on the 12th.

Mike has been away at family commitments in Europe but is now back in the UK.

Iam sure that once the 12th passes that things will begin to progress.

The break may have been a good thing for all parties

I hope your right i just hope we keep the momentum going

[Iffy's Onion Bhaji]

i hope so Fred!