Dedicated thread on the "levered buyout".

[The Bedlington Terrier]

We are commenting on the very controversially "levered buyout" of Burnley Football Club across a variety of threads, I thought it best to capture all comments in one exclusive thread.

https://www.theguardian.com/football...aded-with-debt

ALK and Pace have done a Glazer and bought us with our own money.

The problem I see is that United's off field income will service the debt - ours won't.

I'll use my words carefully, but "Shysters" springs to mind.

Definition of a Shyster: "a person, especially a lawyer, who uses unscrupulous, fraudulent, or deceptive methods in business."

Look and sound familiar?

Attachment 18289

[The Bedlington Terrier]

I have read this sort of sentence quite a few times in the last 48 hours. It's not really rocket science to come up with this point of view is it?

"Using club assets as security for loans taken out to purchase that club has the potential to put a financially solid football club into a less secure position". You don't say Sherlock.

[army88]

I have read this sort of sentence quite a few times in the last 48 hours. It's not really rocket science to come up with this point of view is it?

"Using club assets as security for loans taken out to purchase that club has the potential to put a financially solid football club into a less secure position". You don't say Sherlock.

The bit I can’t get my head around BT , is the fit and proper test that took months ( so we’re told) and secondly the man who supposedly loves Burnley , giving it to them under false pretences.

Has he just looked after me me me , surely he didn’t get the wool pulled over his eyes as well.

It stinks from start to finish.

[The Bedlington Terrier]

The bit I can’t get my head around BT , is the fit and proper test that took months ( so we’re told) and secondly the man who supposedly loves Burnley , giving it to them under false pretences.

Has he just looked after me me me , surely he didn’t get the wool pulled over his eyes as well.

It stinks from start to finish.

Alto has always been exceptionally sceptical of Garlick, I can now see why!

[ClaretinBudapest]

Alto has always been exceptionally sceptical of Garlick, I can now see why!

I hope Pace enjoys the exhibition match tomorrow-although he could still be in Italy sealing another leveraged takeover of Spezia.

[alfinyalcabo]

I have said all along i dont trust Americans.and Garlic.. People told me to give them a chance ..

[The Bedlington Terrier]

I have said all along i dont trust Americans.and Garlic.. People told me to give them a chance ..

We did Alf. Me no likey!

[ClaretinBudapest]

I am starting to think it has nothing to do with how Pace and his colleagues bought into BFC.More relieved to have finally found somebody who would sell them a PL club for £15m of their own money allowing them then to charge 9-10% for the additional loans lent against the club and Turf Moor in order to buy it.Then when it goes tits up-which it inevitably will because we are not Man U.- it goes back to Garlick & Co.Win, win, win as he only sold the club so there could be investment in the squad-LOL.
Pace & Co. will love Burnley so much by this time that they will have long since moved out of the area.Wait and see.

[sinkov]

The last sentence of the statement from the club says it all for me, "Their actions will speak louder than any words.” Indeed, and I was prepared to give them the benefit of the doubt on the takeover, and I've waited all January for their actions, which have been conspicuous by their absence. On that basis I reckon we've been conned. Seems to me we are going to be a guinea pig for ALK's version of the Garlick plan, which was to stay in the PL on Dyche's back while not spending any money.

[The Bedlington Terrier]

The last sentence of the statement from the club says it all for me, "Their actions will speak louder than any words.” Indeed, and I was prepared to give them the benefit of the doubt on the takeover, and I've waited all January for their actions, which have been conspicuous by their absence. On that basis I reckon we've been conned. Seems to me we are going to be a guinea pig for ALK's version of the Garlick plan, which was to stay in the PL on Dyche's back while not spending any money.

It's fecking gloomy this morning sinkov, of that there is no doubt.

Having to dig the car out of a bleeding snow drift did not lighten my mood either.