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Thread: Mister Lee at Nice : Part 2

  1. #51
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    It doesn't have to cover the whole £20 mill Animal.

    Let's say £10 mill in the cash bank account and the stadium and land must be worth at least £10 mill. Do players count as assets?

    Anyway I'm sure such a method of using other peoples money to buy things would not occur to that nice Mister Lee.

    It's a whole new can of worms Kerr may have opened up here.
    Last edited by SBRed48; 04-11-2017 at 10:25 AM.

  2. #52
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    Quote Originally Posted by SBRed48 View Post
    It doesn't have to cover the whole £20 mill Animal.

    Let's say £10 mill in the cash bank account and the stadium and land must be worth at least £10 mill. Do players count as assets?

    Anyway I'm sure such a method of using other peoples money to buy things would not occur to that nice Mister Lee.

    It's a whole new can of worms Kerr may have opened up here.
    He's offered you a chink of light ( see what I did there ) and like a group of lemmings you've flown towards it .

    Proof of funds SB , proof of funds , would you like to have a stab at that one then proceed to the part where Mr Cryne insists on selling to the right sort given the man is 100% BFC , isn't he ??

  3. #53
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    Lemmings don't fly Animal and there's only me and Hodger fighting the fight for BFC. The Barnsley Two will eventually get the truth and justice.

    Am not sure what tha wants from me regarding proof of funds. We all know he's a billionnaire but av been mekkin the point ovva last three weeks that he's not spending his own brass like many think he will.

    Am setting off to Tarn nar so av finished til tomorra. COYR !

  4. #54
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    Quote Originally Posted by SBRed48 View Post
    Lemmings don't fly Animal and there's only me and Hodger fighting the fight for BFC. The Barnsley Two will eventually get the truth and justice.

    Am not sure what tha wants from me regarding proof of funds. We all know he's a billionnaire but av been mekkin the point ovva last three weeks that he's not spending his own brass like many think he will.

    Am setting off to Tarn nar so av finished til tomorra. COYR !
    It was reported that a delay in the takeover was due to Billy Beane not having provided Mr Cryne with proof of funds which suggests this forms a key part of the transaction .

    You can't borrow money against something you don't own is the point I'm making .

  5. #55
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    Let’s pretend they do a leveraged buy out, surely the income has to repay the debt?
    If that was possible why has PC not done it in past instead of paying out of his own pocket?

    Equally if it is not possible, surely Mr Lee would not buy(after all he’s not daft) and secondly you wouldn’t get the funds in the first place.

  6. #56
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    Quote Originally Posted by lk311 View Post
    Let’s pretend they do a leveraged buy out, surely the income has to repay the debt?
    If that was possible why has PC not done it in past instead of paying out of his own pocket?

    Equally if it is not possible, surely Mr Lee would not buy(after all he’s not daft) and secondly you wouldn’t get the funds in the first place.
    Doesn't add up does it mate and I agree with what you say .

  7. #57
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    Don't believe a word this Kerr say's it only comes on here to cause argument remember when it said Mrs May would win the general election with over 100 seats and when that did not happen was not seen or herd for months its a sh1t stirrer of the highest order.

  8. #58
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    Quote Originally Posted by SBRed48 View Post
    Interesting thought Kerr.

    Websites Googled with the words "leveraged buy out" say it is where the buying company (say a Chinese American Company) uses a significant amount of borrowed money to meet the costs of a buyout of another company (say a football with no debt and £10 to £12 million in its bank account). The football club's cash flow and assets are used as the collateral to secure and repay the borrowed money.

    I doubt such a cunning plan would have even been considered by Mister Lee.
    Me? Open a can of worms? Me?

    I stress that I have no knowledge of what is happening at Barnsley, but a leveraged buyout did not seem to have featured in the discussions.

    You have to ask what is in it for the potential buyers here, which is what you have been doing. What is clear is that Chinese and American businessmen do not buy small unfashionable clubs (which, is what Barnsley and of course, my team Rotherham are) unless they can see a way to extract money from the deal. I would have thought that your fan base is too small and ‘local’ to do that via spending their way into the Premiership and the notion of keeping you as a selling club seems very risky, simply because it is impossible to guarantee a conveyor belt of saleable players.

  9. #59
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    Quote Originally Posted by animallittle3 View Post
    It was reported that a delay in the takeover was due to Billy Beane not having provided Mr Cryne with proof of funds which suggests this forms a key part of the transaction .

    You can't borrow money against something you don't own is the point I'm making .
    When people buy a house with a mortgage, they arrange to borrow against an asset that they do not yet own (the house) and generally have to provide proof of funds (in the form of a mortgage offer) before it is possible to exchange contracts (i.e. commit to the deal).

    The most famous leveraged buyout in football is, of course, the Glazer's takeover of Manchester United:

    https://www.theguardian.com/football...dend-greg-dyke

    You kind of have a point though when you said earlier something along the lines of 'what's the alternative?'
    Last edited by KerrAvon; 05-11-2017 at 07:26 AM.

  10. #60
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    Quote Originally Posted by lk311 View Post
    Let’s pretend they do a leveraged buy out, surely the income has to repay the debt?
    If that was possible why has PC not done it in past instead of paying out of his own pocket?

    Equally if it is not possible, surely Mr Lee would not buy(after all he’s not daft) and secondly you wouldn’t get the funds in the first place.
    The lender would certainly need to be satisfied that the borrower can repay the loan. To say that it would have to be covered by income alone is incorrect, however.

    In this deal, you know that there are property development plans in the mix. It could well be that the projected return from that would be sufficient to allow a lender to agree to provide funding.

    Mr Cryne is not a property developer, whereas Mr Lee is.
    Last edited by KerrAvon; 05-11-2017 at 07:28 AM.

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