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It's not my place to speak on behalf of the bank (or even the club on this issue), so I'll just mention this comes solely from an educated own opinion.

The bank might have 'seen' the offer. That doesn't mean they 'agree' with it or 'support' it.

The bank do, however, agree with the club statement put out yesterday.

Interpret that as you will.

Well you have though haven't you?

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It's not my place to speak on behalf of the bank (or even the club on this issue), so I'll just mention this comes solely from an educated own opinion.

The bank might have 'seen' the offer. That doesn't mean they 'agree' with it or 'support' it.

The bank do, however, agree with the club statement put out yesterday.

Interpret that as you will.

Have Bank has told you this personally or are you relying on news from within the club ?

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Guest Briscoe Inferno

It's not my place to speak on behalf of the bank (or even the club on this issue), so I'll just mention this comes solely from an educated own opinion.

The bank might have 'seen' the offer. That doesn't mean they 'agree' with it or 'support' it.

The bank do, however, agree with the club statement put out yesterday.

Interpret that as you will.

Just random musings James, but I wonder how much was tippexed out before the bank would 'agree' to it's publication.....

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It's not my place to speak on behalf of the bank (or even the club on this issue), so I'll just mention this comes solely from an educated own opinion.

The bank might have 'seen' the offer. That doesn't mean they 'agree' with it or 'support' it.

The bank do, however, agree with the club statement put out yesterday.

Interpret that as you will.

When you say they have seen, but haven't agreed the offer, are you talking about the whole offer put to the board or are you saying the bank haven't actually agreed to write off £6.5m for £3m on closing (as I am)? which would of course make the rest of the offer irrelevant.

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Guest Buxtonian

Has anyone looked at another way into the club.?

What if 'someone' were to approach the bank and offer to buy part of the debt?

Yes, debts can and are sold on from one person to another.

Perhaps someone purchasing part of the debt could then apply pressure to the club by threatening to foreclose?

I don't know !

It seems to me, the sticking point is the amount outstanding to Loan Holders. The bank appear willing to rephase the debt, which I presume means that they will extend the tyerm of its loan.

The Loan Note holders, who appear to be shareholders , seem to require the FULL amount.

Am I misreading the situation?

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Sheffield Wednesday renew plea for 'credible' investors

Sheffield Wednesday have made a fresh appeal for "credible" investors with £5m to commit to the club immediately.

From the BBC website. Sound like the club are begging, now.

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Sheffield Wednesday renew plea for 'credible' investors

Sheffield Wednesday have made a fresh appeal for "credible" investors with £5m to commit to the club immediately.

From the BBC website. Sound like the club are begging, now.

I think it says what it says.

A message to the fans and Club 9.

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Sheffield Wednesday renew plea for 'credible' investors

Sheffield Wednesday have made a fresh appeal for "credible" investors with £5m to commit to the club immediately.

From the BBC website. Sound like the club are begging, now.

http://news.bbc.co.uk/sport1/hi/football/teams/s/sheff_wed/8873036.stm

Sheffield Wednesday have made a fresh appeal for "credible" investors with £5m to commit to the club immediately.

The League One club were issued with a winding-up order by Her Majesty's Revenue & Customs last week.

A club statement said: "We have been made offers that fall short of the conditions that have been set."

American company Club 9 Sports LLC has been rumoured to be interested but no firm offer has been made and the club dismissed them as "making noise".

The statement continued: "Club 9 Sports LLC is one such party and while they continue to make noise in the media, we focus on negotiations with credible long-term partners.

We will not let anybody take control unless they have the ability to meet the club's financial requirements in the short, medium and long term

Sheffield Wednesday club statement

"Central to [requirements] is the ability to invest money into the club straight away.

"We have stated that £5m is the minimum figure needed on day one.

"This figure would allow for a major reduction in the debt position of the club and would ultimately give more resources to the manager to invest in the playing squad.

"We recognise that investment is needed but will not let anybody take control of Sheffield Wednesday unless they have the ability to meet the club's financial requirements in the short, medium and long term."

The Owls' plight was eased this week with the sale of goalkeeper Lee Grant to Burnley for an undisclosed fee, believed to be in the region of £1m.

HMRC's action relates to an outstanding PAYE balance of £550,000.

Edited by Sam779
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Has anyone looked at another way into the club.?

What if 'someone' were to approach the bank and offer to buy part of the debt?

Yes, debts can and are sold on from one person to another.

Perhaps someone purchasing part of the debt could then apply pressure to the club by threatening to foreclose?

I don't know !

It seems to me, the sticking point is the amount outstanding to Loan Holders. The bank appear willing to rephase the debt, which I presume means that they will extend the tyerm of its loan.

The Loan Note holders, who appear to be shareholders , seem to require the FULL amount.

Am I misreading the situation?

I think that's basically what has happened at Ipswich.

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When you say they have seen, but haven't agreed the offer, are you talking about the whole offer put to the board or are you saying the bank haven't actually agreed to write off £6.5m for £3m on closing (as I am)? which would of course make the rest of the offer irrelevant.

I've just read that back. To clarify I meant I'm referring to the alleged agreement to write off debt when I say, "the bank have agreed the deal in principle". Is that what you're referring to? I obviously don't know if it's true or not.

Anyway enough rambling I'm off to the match.

UTO

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Does anyone from 'Wednesdayite' know if, or who the other potential investors are the club are talking to?

The club have told us they are but are not prepared to release names, even confidentially.

Apart from C9S/DH and WTID, we are not aware of any other interested party - but as far as the club are concerned, there are people out there.

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The club have told us they are but are not prepared to release names, even confidentially.

Apart from C9S/DH and WTID, we are not aware of any other interested party - but as far as the club are concerned, there are people out there.

:ph34r:

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The club have told us they are but are not prepared to release names, even confidentially.

Apart from C9S/DH and WTID, we are not aware of any other interested party - but as far as the club are concerned, there are people out there.

Very convenient.

:biggrin:

Just my own opinion, but based on their past record and mystery '100 million men' , I simply don't believe them.

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Guest Fulham Fox

It's not my place to speak on behalf of the bank (or even the club on this issue), so I'll just mention this comes solely from an educated own opinion.

The bank might have 'seen' the offer. That doesn't mean they 'agree' with it or 'support' it.

The bank do, however, agree with the club statement put out yesterday.

Interpret that as you will.

This is key. The bank are unlikely to do anything hostile so whilst the process to get the comfortable with the potential investors is iterative, in so far as the bank will be updated (including showing offers received), it will not sanction an offer which does not first receive the support of the board. It's involvement is merely to ensure that whoever becomes the future steward of the club is someone the bank feels they can deal with and in whom they have confidence.

The other point in this thread about buying the debt at a discount and excerting pressure does not work in this instance. If the debt had been syndicated amongst a number of banks (which often happens) then the market value of the debt would be known and investors could buy debt at say 40p in the £, with a view to exerting influence. However, all SWFC debt is held by the Co-op so that takes you back to para 1. So the deal has to be an overall deal.

I hope that helps clarify even if the hole is as deep as before.

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