mike312 Posted July 22, 2014 Share Posted July 22, 2014 (edited) If you were buying the club would you give the old owner millions to spend in the budget when you don't fully run/own the club? A smart man says no. No but they said that hm would install his people in and around the club. He's also kept mm on as chairman. By getting the squad together before the season starts he is actually protecting his investment. Edited July 22, 2014 by mike312 Link to comment Share on other sites More sharing options...
RUMBELOWS91 Posted July 22, 2014 Share Posted July 22, 2014 the quickest ratification process was around 4 weeks for Charlton's Roland Duchatelet here is a quote from him on the process “The process was actually quite straightforward, as long as you have the answers to the League’s questions. None of them were particularly difficult. They (the League) just want to understand whether you have got the money to finance the club’s business plan, as they don’t want their clubs to end up in administration a few months after they have approved a takeover as it would be very embarrassing for them. “Nearly all Championship clubs need extra funding to help them balance their books. So, the League doesn’t sign off any takeovers unless you can show them that you have got enough money to meet the club’s financial commitments, as well as showing them where that money has come from. “This meant us providing financial details of all the companies involved in the group so that we could prove that we could meet the financial projects we gave to the League. “We also had to provide letters showing that we could call upon that funding, as and when the club needed it. You have obviously got to meet the fit and proper persons’ test too, but that’s essentially self-certification against published criteria. “As long as you haven’t got anything in your background that would lead to you being disqualified, it is relatively simple. “In our case, we could supply everything the League asked for pretty much straight away and the takeover was approved in around a month.†as was said earlier by someone hows will be a little mit more complicated with the paperwork been from Azerbaijan Good find - probably the most info anyone has provided on the process. I would imagine in striking a deal, the last thing Milan wil want to have said is, "Oh by the way, it'll probably be 6 weeks before we can dot the i's and cross the t's - and you'll need to stump up some accounts from all the businesses you own in Azerbaijan." Link to comment Share on other sites More sharing options...
The Batman Posted July 22, 2014 Share Posted July 22, 2014 Are you seriously suggesting that an international business with access to lawyers, advisers etc could not produce and supply the necessary documentation for the FL in 6 weeks? My experience and knowledge is that when parties want to do deals, and have the funds to do the deal, then they employ the lawyers and advisers and find a way. On the other hand when the funds aren't there it is amazing how much more complicated everything can become.... Someone posted an example above of a takeover where all documents were provided quickly and it still took 4 weeks. So 6 weeks isn't owt to worry about. Link to comment Share on other sites More sharing options...
RUMBELOWS91 Posted July 22, 2014 Share Posted July 22, 2014 Are you seriously suggesting that an international business with access to lawyers, advisers etc could not produce and supply the necessary documentation for the FL in 6 weeks? My experience and knowledge is that when parties want to do deals, and have the funds to do the deal, then they employ the lawyers and advisers and find a way. On the other hand when the funds aren't there it is amazing how much more complicated everything can become.... You're assuming the delay is not with the FL processing the info. I doubt you can jump on companies house and check out the Baghlan Group for a few bob. Link to comment Share on other sites More sharing options...
Captain Sl-OWL-ly Posted July 22, 2014 Share Posted July 22, 2014 Are you seriously suggesting that an international business with access to lawyers, advisers etc could not produce and supply the necessary documentation for the FL in 6 weeks? My experience and knowledge is that when parties want to do deals, and have the funds to do the deal, then they employ the lawyers and advisers and find a way. On the other hand when the funds aren't there it is amazing how much more complicated everything can become.... Total ballox mate, I've worked in export for a major Blue chip International company and the beurocracy you have to go through just to send things to Europe can be mind bogglingly frustrating so anyone trying to take over a british company from an "at risk" country close to Russia and Iran with the human rights record that make the Klingons look friendly are always going to take time.. Link to comment Share on other sites More sharing options...
mike312 Posted July 22, 2014 Share Posted July 22, 2014 When have you heard the words pre-season budget or available funds in ANY discussion with a Wednesday board over the last 50 years ? This is from the French press and Lens...FFSNever but there must always have been discussions regarding budget in every closed season. At the time when this went live there must have been a discussion along the lines of; it takes normally x amount of time for everthing to be ratified, that may not give us enough time to get the players we need before the season starts, do we have a plan b if the takeover isn't through before say August? I don't understand your point about France? Link to comment Share on other sites More sharing options...
kobayashi Posted July 22, 2014 Share Posted July 22, 2014 Total ballox mate, I've worked in export for a major Blue chip International company and the beurocracy you have to go through just to send things to Europe can be mind bogglingly frustrating so anyone trying to take over a british company from an "at risk" country close to Russia and Iran with the human rights record that make the Klingons look friendly are always going to take time.. Export to Europe...an invoice, a packing list and an EUR1? Mind boggling... Link to comment Share on other sites More sharing options...
sage owl Posted July 22, 2014 Share Posted July 22, 2014 Are you seriously suggesting that an international business with access to lawyers, advisers etc could not produce and supply the necessary documentation for the FL in 6 weeks? My experience and knowledge is that when parties want to do deals, and have the funds to do the deal, then they employ the lawyers and advisers and find a way. On the other hand when the funds aren't there it is amazing how much more complicated everything can become.... Are you saying the funds are not there how do you know this to be the case. Link to comment Share on other sites More sharing options...
Captain Sl-OWL-ly Posted July 22, 2014 Share Posted July 22, 2014 Export to Europe...an invoice, a packing list and an EUR1? Mind boggling... Erm, what about where the ownership is passed, who will pay the transport cost and where to ? When will the bill be paid ? Who is responsible for what etc, etc. Course if you're only operating on Ebay you might not have these problems.. Link to comment Share on other sites More sharing options...
sage owl Posted July 22, 2014 Share Posted July 22, 2014 Export to Europe...an invoice, a packing list and an EUR1? Mind boggling... it does of course depend on what your selling.I know of a company that had to wait 4 weeks to get a shipping list approved in June of this year. Link to comment Share on other sites More sharing options...
Utah Owl Posted July 22, 2014 Share Posted July 22, 2014 (edited) Export to Europe...an invoice, a packing list and an EUR1? Mind boggling... Given the amount of money involved and the fact that this is outside of the EU, I would imagine the money laundering checks are likely to take some considerable time for starters. Never mind anything else. We are talking a huge sum of money here and the authorities will want full details of exactly where it has come from. United's takeover on the other hand would not have needed this as the amount involved was below the Money Laundering threshold! Edited July 22, 2014 by Utah Owl Link to comment Share on other sites More sharing options...
Captain Sl-OWL-ly Posted July 22, 2014 Share Posted July 22, 2014 Given the amount of money involved and the fact that this is outside of the EU, I would imagine the money laundering checks are likely to take some considerable time for starters. Never mind anything else. We are talking a huge sum of money here and the authorities will want full details of exactly where it has come from. United's takeover on the other hand would not have needed this as the amount involved was below the Money Laundering threshold! Spot on ! Money laundering threshold is £1.01 then ? , lol Link to comment Share on other sites More sharing options...
EcclesallOwl Posted July 22, 2014 Author Share Posted July 22, 2014 Would you eat a steaming pile of shïte if the Sheffield Wednesday told you so? I firmly believe you would. It's hard when someone deals with facts isn't it Must reyt annoy you that people are easily dismissing your silly rumours Link to comment Share on other sites More sharing options...
kobayashi Posted July 22, 2014 Share Posted July 22, 2014 Erm, what about where the ownership is passed, who will pay the transport cost and where to ? When will the bill be paid ? Who is responsible for what etc, etc. Course if you're only operating on Ebay you might not have these problems.. Err the invoice... Prices, qty,inco terms, credit terms,conditions of sale such as retention of title etc Link to comment Share on other sites More sharing options...
RichieB Posted July 22, 2014 Share Posted July 22, 2014 (edited) I wonder weather there was all this hysteria for Leicester fans when it took the very credible and rich owners of Leicester even LONGER than this to pass the FL process of approval? Some people on this site no matter what you tell them will not believe it's going to go through, and that's fine. Then most probably those people won't show there faces again if/when it does. We will see. Edited July 22, 2014 by RichieB Link to comment Share on other sites More sharing options...
Captain Sl-OWL-ly Posted July 22, 2014 Share Posted July 22, 2014 Err the invoice... Prices, qty,inco terms, credit terms,conditions of sale such as retention of title etc Oh, if only it was always that simple.... Let's buy the Wednesday on Ebay then. Link to comment Share on other sites More sharing options...
RUMBELOWS91 Posted July 22, 2014 Share Posted July 22, 2014 Err the invoice... Prices, qty,inco terms, credit terms,conditions of sale such as retention of title etcCOMMERCIAL INVOICECLUB:Sheffield Wednesday QTY: 1 PAYMENT TERMS: PRO FORMA VALUE: £40m DIRECTORS SIGNATURE Milan Mandaric - why on earth is this taking so long? That took me 2 minutes. Link to comment Share on other sites More sharing options...
The Dukeries Owl Posted July 22, 2014 Share Posted July 22, 2014 Oh, if only it was always that simple.... Let's buy the Wednesday on Ebay then. http://www.ebay.co.uk/itm/SUBBUTEO-FOOTBALL-TEAM-746-SHEFFIELD-WEDNESDAY-/141341566541?pt=UK_SportsMemorabilia_Subbuteo_SM&hash=item20e89d264d Link to comment Share on other sites More sharing options...
kobayashi Posted July 22, 2014 Share Posted July 22, 2014 Are you saying the funds are not there how do you know this to be the case.[/quote I don't know that to be the case..,but if the funds are there it seems strange that 6 weeks everyone is still waiting for the accompanying paperwork. Link to comment Share on other sites More sharing options...
The Dukeries Owl Posted July 22, 2014 Share Posted July 22, 2014 Did Milan get his IBANs right? Link to comment Share on other sites More sharing options...
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