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Thread: Latest on the takeover

  1. #121
    Join Date
    Jul 2004
    Posts
    21,838
    This deal has been 'done' now for over a month, allegedly, but in the real world it still hasn't been done. I may well be proved wrong and it goes through, but I still can't get my head around why anyone who wants to buy a PL club, and presumably pay the going rate for a PL club, would buy one that is 19th in the league and has a better than 50% chance of being relegated.

    With every day that passes this is looking to me more and more like the Nick Pope to Chelsea story.

  2. #122
    Join Date
    Nov 2012
    Posts
    5,297
    or the ''Blackburn Rovers are hoping Ronaldinho will give the thumbs up to a move to Ewood Park. That was the week that was news!''

    Rovers reported to have offered £130,000-per-week deal.

    Blackburn Rovers have made an audacious bid to sign Ronaldinho from Milan. The plan is the brainchild of Balaji Rao, a member of the family who run Venky's, the Indian chicken company which recently bought the Lancashire club.

  3. #123
    Join Date
    Jan 2010
    Posts
    13,001
    Informative article on the 5 stages of a takeover based on a book called Done Deal, written by sports lawyer Daniel Geey, which discusses the process of changing ownership and details the various hurdles that clubs have to go through.

    1 The early stages of a takeover - due diligence and the Non Disclosure Agreement

    An NDA is a confidentiality agreement so that “information passed between both parties remains private” – it includes things like financials, contracts, disputes the club is involved in and liabilities. Breaching this could mean the bidder being sued.

    The NDA “may also include a period of exclusive negotiation” so that no other buyer can speak to the club and sometimes bidders pay for this privilege but exclusivity remains up for debate.

    2 The heads of terms

    Geey reports that during the beginning of the due diligence process “it is also common to draw up a short two to three page document setting out the important elements of the deal so that both parties understand what is on the table”.

    This is called the Heads of Terms – and includes details on the identified buyers and sellers, the purchase price, period of negotiation exclusivity (if it exists), bonuses for the club remaining in the Premier League or achieving certain things (if they’re part of the deal), confidentiality clauses and a timeline to complete the deal.

    3 The Sales Purchase Agreement

    The heads of terms is one thing but the Sales Purchase Agreement, which takes the bid to the next level, is the important document.

    Geey reports that the SPA is the “actual agreement that transfers the shares of the seller to the buyer”. It can be a “mammoth document”, he writes – containing hundreds of pages of clauses, provisions and conditions. It can take months to complete, he suggests – with purchase price and how it is structured the key aspect

    4 Premier League notification

    A new rule introduced in 2009 stated that the Premier League must be informed 10 working days before the takeover is completed.
    According to Geey “in practice, in the build-up to the takeover confidential talks will almost always take place between the potential new owner and the Premier League to ensure everything is in order”.

    5 The Owners and Directors Test

    The Owners and Directors Test is intended to limit the ownership of football clubs and prevent anyone who has been found guilty of certain offences or have overseen an insolvent or bankrupt company from taking over a club.

    https://www.lancs.live/sport/footbal...rnell-19325893

    Egypt sounds to be at stage 4 but where is the US?

  4. #124
    This must be the biggest YAWN of the year..?

    Attachment 17668

  5. #125
    Join Date
    Aug 2009
    Posts
    4,669
    Quote Originally Posted by oldcolner View Post
    Informative article on the 5 stages of a takeover based on a book called Done Deal, written by sports lawyer Daniel Geey, which discusses the process of changing ownership and details the various hurdles that clubs have to go through.

    1 The early stages of a takeover - due diligence and the Non Disclosure Agreement

    An NDA is a confidentiality agreement so that “information passed between both parties remains private” – it includes things like financials, contracts, disputes the club is involved in and liabilities. Breaching this could mean the bidder being sued.

    The NDA “may also include a period of exclusive negotiation” so that no other buyer can speak to the club and sometimes bidders pay for this privilege but exclusivity remains up for debate.

    2 The heads of terms

    Geey reports that during the beginning of the due diligence process “it is also common to draw up a short two to three page document setting out the important elements of the deal so that both parties understand what is on the table”.

    This is called the Heads of Terms – and includes details on the identified buyers and sellers, the purchase price, period of negotiation exclusivity (if it exists), bonuses for the club remaining in the Premier League or achieving certain things (if they’re part of the deal), confidentiality clauses and a timeline to complete the deal.

    3 The Sales Purchase Agreement

    The heads of terms is one thing but the Sales Purchase Agreement, which takes the bid to the next level, is the important document.

    Geey reports that the SPA is the “actual agreement that transfers the shares of the seller to the buyer”. It can be a “mammoth document”, he writes – containing hundreds of pages of clauses, provisions and conditions. It can take months to complete, he suggests – with purchase price and how it is structured the key aspect

    4 Premier League notification

    A new rule introduced in 2009 stated that the Premier League must be informed 10 working days before the takeover is completed.
    According to Geey “in practice, in the build-up to the takeover confidential talks will almost always take place between the potential new owner and the Premier League to ensure everything is in order”.

    5 The Owners and Directors Test

    The Owners and Directors Test is intended to limit the ownership of football clubs and prevent anyone who has been found guilty of certain offences or have overseen an insolvent or bankrupt company from taking over a club.

    https://www.lancs.live/sport/footbal...rnell-19325893

    Egypt sounds to be at stage 4 but where is the US?
    Don't know if I dreamt this Oc but I swear i read that the Egyptian was on a par with abramovich at Chelsea for wealth , do you know if that's right.

  6. #126
    Quote Originally Posted by army88 View Post
    Don't know if I dreamt this Oc but I swear i read that the Egyptian was on a par with abramovich at Chelsea for wealth , do you know if that's right.
    You dreamt it army88.

  7. #127
    Join Date
    Apr 2009
    Posts
    34,432
    Just in case it was missed on the other takeover thread.

    Matt Lawton, Chief Sports Correspondent The Times Thursday December 03 2020, 12.01am

    An American sports investment company is close to completing the takeover of Burnley with the Premier League set to approve the £200 million deal.

    ALK Capital, which is fronted by Alan Pace, the former president of Major League Soccer franchise Real Salt Lake, has faced direct competition from the rival bid of the Egyptian entrepreneur Mohamed Sayed Zein El Kashashy and the sports lawyer Chris Farnell.

    The Times understands the Premier League is scrutinising both offers, with sources claiming the Americans are now the firm favourites to complete the deal “imminently”.

    At one stage it did seem that El Kashashy and Farnell were in pole position, having signed a sales and purchase agreement and provided proof of funding. The only matter to be resolved was the outcome of the Premier League’s owners’ and directors’ test.

    But the Premier League has been slow to complete that process, with the delay thought to have been caused by the subsequent offer from ALK for the 49 per cent stake belonging to the Burnley chairman Mike Garlick and John Banaszkiewicz’s 28 per cent share.

    Insiders believe a deal will be completed in time for the January transfer window, when the manager Sean Dyche will be keen to add quality to a squad second from bottom in the table.

    Burnley made only one significant addition to their first-team squad in the summer with Dale Stephens, the central midfielder, joining for £1 million from Brighton & Hove Albion.

  8. #128
    Join Date
    May 2016
    Posts
    7,304
    .


    Americans are now the firm favourites to complete the deal “imminently”.


    it's impending...it's approaching - it's..................On The Way !!!


    Burnley style ?






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