New beginnings - 25% Truth, 80% Bollocks

[Audrey]

Oops....

https://x.com/IndiaToday/status/1968248694928769281

Whatever happened to the mysterious Karachi FC?

[horlock07]

Whatever happened to the mysterious Karachi FC?

This seems to be the last post on the matter https://www.linkedin.com/posts/prospect-pakistan_sportsdiplomacy-activity-7300417693587832850-nARX/ , albeit the bloke from the FA has subsequently linked to to this https://learn.englandfootball.com/ongoing-learning/Initiatives/club-placement-programme  

[Power to people]

The thing is we don't know what stage any offers get to - does Clem reject them straight off when x is offered, does he say your offering for e.g. £10m I want £15m and they laugh never to be seen again or does he say show me the colour of your money and they say not until we have done due diligence and he then says fcuk off

Although Sam M seems to suggest there is still an offer on the table - so assuming Clem is putting blimkers on and cant see it

[theakston2k]

I imagine the wife’s shares are a bit of self inflicted issue for Morfuni as he’s diluted his ownership. If the club is sold for £10m it’s only effectively £8m for Morfuni’s shares, then with money likely owed to other individuals I wonder whether he even breaks even unless the club is sold for some exorbitant amount.

[horlock07]

I imagine the wife’s shares are a bit of self inflicted issue for Morfuni as he’s diluted his ownership.

Possibly so, but an entirely necessary one to get his mitts on 50% of the ground I suspect. I still strongly suspect, taking note of its rushed nature, that it was a rsult of someone be it the Eady Trust or the Council saying hang on, we ain't buying this ground and giving 50% to a company with debentures hanging over them which could then be called in through forcing the sale of an asset the club suddenly came into.

If I'm correct in my theory, possibly the more interesting issue is why did he go to them and why publicly (I suspect this is purely that they wanted security and the only way to do that was via shares and/or they were just not prepared to do it as a private loan for whatever reason) and not one of the plethora of people who have cash in the club in dark corners.

Course the other thing is if he inflates the value one would assume proceeds will be shared as per shareholding so possibly a greater return for Kieley and Paladorio.

[Andyred83]

I imagine the wife’s shares are a bit of self inflicted issue for Morfuni as he’s diluted his ownership. If the club is sold for £10m it’s only effectively £8m for Morfuni’s shares, then with money likely owed to other individuals I wonder whether he even breaks even unless the club is sold for some exorbitant amount.

This was my point a few weeks ago. The club owes loans to him (And likely others to roughly £10M, was £8m in Feb 25).

The wives will want a good value for their shares, didn't they pay roughly £1.2m towards the debentures which was converted to shares They have 22%. This means because they all have ordinary 1p shares that the offer has to be over £5,454,545 for the 100% for the wives to break even, which i am sure they want more.

Clem needs over £15m for the club to get his and whoever's loans back and keep the wives happy!! again £15m for a league to club that has no assets as the ground in the current ownership format with the trust means they cant do anything with it as Clem found out with DR boxes!!!