Adver News: Takeover set for completion a day too late for Paolo

[sonicyouth]

they do not own the club and have no involvement until the deal is ratified by the football league.

Ritchie was sold because we could not afford to continue in the absence of Black's funding. the consortium wouldn't put money into the club because they have no involvement as of yet.

Paolo was not "let go", he quit fully aware that he was making demands that could not be met by either the current owner or the potental owners. he effectively made a threat to the FL by demanding the deal be complete by 5pm yesterday. that's his decision and his alone.

[DiV]

Sop you'd expect them to throw 400k into something that does not belong to them?

If they are serious investors (which still remains to be seen) then I'd say they would/could have been able to negotiate something somehow...

[Flashheart]

If they are serious investors (which still remains to be seen) then I'd say they would/could have been able to negotiate something somehow...

So you'd expect them to throw 400k into something that does not belong to them?

[sonicyouth]

If they are serious investors (which still remains to be seen) then I'd say they would/could have been able to negotiate something somehow...

negotiate what exactly?

"don't sell Ritchie, here is £400,000 of our money"

the Paolo resignation was out of everyone's hands.

[Peter Venkman]

negotiate what exactly?

"don't sell Ritchie, here is £400,000 of our money"

the Paolo resignation was out of everyone's hands.

This.

[DiV]

Yes, that's exactly it.

There were only two options. Sell Ritchie or have the consortium who don't own the club pay the 400k. Nothing else what so ever two groups of business men could possible do.

Nothing at all.

[sonicyouth]

Yes, that's exactly it.

There were only two options. Sell Ritchie or have the consortium who don't own the club pay the 400k. Nothing else what so ever two groups of business men could possible do.

Nothing at all.

i seriously don't understand what you're suggesting the consortium could have done.

i'm not having a go at you.

[lambourn red]

Yes, that's exactly it.

There were only two options. Sell Ritchie or have the consortium who don't own the club pay the 400k. Nothing else what so ever two groups of business men could possible do.

Nothing at all.

If you were buying a house and had exchanged contracts and the old owner said can you pay for a new conservatory while you are waiting what would you say ?

[ahounsell]

So how do you and DV know the new lot sold Ritchie when A Black has himself said that he was the one that did it?

How is this an unarguable fact?

Is is an unarguable fact that Richie was sold.

If the new owners are going to stump up loads of cash and the takeover is going to go through imminently the sale would have been pointless. Therefore the fact that it happened means that one or both of those premisses must be false.

[DiV]

I dunno. Old and new pay 200k each. Black pays the 400k as a loan which the new lot pay back as soon as the takeover goes through. New lot pay the 400k and Black takes 400k off the asking price. Sell the Charlie Austin sell on fee. Defer wages/rent for a month till everything goes through.

These lot are wealth business men for a reason and I expect they've had to do a few deals in their time or take a few risks.

I'm no business expert but I still believe there must have been more potential ways around the short term cash flow issue.

[DiV]

If you were buying a house and had exchanged contracts and the old owner said can you pay for a new conservatory while you are waiting what would you say ?

We've had this one before.

If I'd exchanged contracts on a house I wouldn't expect the owner to sell the roof. If I wanted to make good of the house I'd rather pay for a conservatory and keep the roof than end up with no conservatory and no fucking roof.

[lambourn red]

I dunno. Old and new pay 200k each. Black pays the 400k as a loan which the new lot pay back as soon as the takeover goes through. New lot pay the 400k and Black takes 400k off the asking price. Sell the Charlie Austin sell on fee. Defer wages/rent for a month till everything goes through.

These lot are wealth business men for a reason and I expect they've had to do a few deals in their time or take a few risks.

I'm no business expert but I still believe there must have been more potential ways around the short term cash flow issue.

But Black had already stated NO more money hence the threat of Admin and the new Potential owners were as it said Potential , until the FL give the green light they are rightly not going to put a penny in. There are so many questions with so few answers at the moment but the one thing I think we need to acknowledge is that the new consortium cannot be blamed for anything until they actually takeover officially.

[sonicyouth]

I dunno. Old and new pay 200k each. Black pays the 400k as a loan which the new lot pay back as soon as the takeover goes through. New lot pay the 400k and Black takes 400k off the asking price. Sell the Charlie Austin sell on fee. Defer wages/rent for a month till everything goes through.

These lot are wealth business men for a reason and I expect they've had to do a few deals in their time or take a few risks.

I'm no business expert but I still believe there must have been more potential ways around the short term cash flow issue.

Black has clearly indicated that he will not put any further money into the club, not in the form of a loan, a good will gesture, nothing.

the new owners could have injected £400k but as per the analogy below, they may never see that money again - as you say, they're wealthy businessmen for a reason and that reason isn't giving cash away.

the Austin sell-on fee is complicated, i have no idea how it works.

wage deferral would be tantamount to administration, the PFA would fuck us over.

We've had this one before.

If I'd exchanged contracts on a house I wouldn't expect the owner to sell the roof. If I wanted to make good of the house I'd rather pay for a conservatory and keep the roof than end up with no conservatory and no fucking roof.

the point is that you could end up paying for a new conservatory but never own the house...or the conservatory. until the FL ratify the deal, the new owners will not put any money into the club.  it's unfortunate but that's the fact.

[AldbourneRed]

Is is an unarguable fact that Richie was sold.

If the new owners are going to stump up loads of cash and the takeover is going to go through imminently the sale would have been pointless. Therefore the fact that it happened means that one or both of those premisses must be false.

The cash from the Ritchie sale has already sustained the club for a couple of weeks, as we have learned the hard way an 'imminent' sale does not mean short enough that no bills or wages need to be paid. I don't think it necessarily means either of the premises are false, just that we can't ignore our outgoings until the football league manage to find their fabled rubber stamp.

Plus, there were no guarantees the takeover was/is going to be ratified. The remainder of the Ritchie money should see us through another month and a half if this all goes tits up, giving us time to try and find other options rather than calling in the administrators straight away.

[Batch]

What exactly makes you thing they did not try to bend backwards to keep him happy?

Basically everything I've read from PDCs statements and the little else that is in the publib domain. This is very much one side of the argument, it may be half truths, or falsehoods, but that's what we have for now until the takeover is complete.

I took this and applied a little logic, self-sustainability would be hard to do based on Paolo's tenure thus far. Hence its not unreasonable to think the loss of Di Canio could be a reason for the apparent lack of contact. This could be horseshit, I don't know, we'll see what Jed has to say and see if anything else shakes out.

Hell its not impossible PDC got wind of another clubs interest and used it as an excuse.

You put up a status on FB about not being in a position to judge yet you are doing exactly that.

That's not true. You seem to imply I have made my mind up about the new consortium. Actually, my opinion of them isn't so different from yours. Wait and see. Its just I choose to discuss negative aspects too, which are opinions,suppositions, and definitely not facts..

And while we are talking about FB status it was your "The TEF is like thisis" status that prompted my post in the first place. If you've got something to say, say it directly on here rather than 'oooh look at them, aren't they stupid' type posts on FB and Twitter.

If we all waited until all the facts were known without providing opinion, possibilities it would be fucking dead on here.

Suspect this will upset you, I actually quite like (most of!) your posts.