Statement

[mancowl08]

Without reading all the drama queen statements on here and all the woe is me etc. Some people need their bumps feeling and have a reality check.

1) The statement is what it is a statement that says very little but gives clues. My guess is the original announcement was made premature because something leaked in France linked to the RC Lens problems. The hope to announce before the first game gives a timescale basically now saying the process (hopefully) will be complete by then for the following reasons.

2) If you are a business man with multiple interests you prioritise where the most risk to your business is. Baghlan Group would come first with what ever issues it faced, which still isnt really clear but appeared to be a slight down grading of there financial status (which have now been sorted), The RC Lens issue would be second, that had a tight timesclae and needed attension from HM no matter if Mazrtel was there HM is the finance, and yes we would be last at this stage. If you read the statement it said he had other issues that required (not require) his attension which suggests these are now complete and his attension turns to us. Also if it wasn't going to hapopen do you think he would bother coming to the UK and getting Martel to fly here rather than HM been based in France and MM going there.

3) If you thought the takeover/ratification was going to happen in a matter of a couple of weeks you were seriously wrong. The statement says due diligence is completed and now just crossing the Ts and dotting the Is with the FL needs to be complete. A lot like buying a house there are an awful lot of stages to go through when your spending £40m to make sure it's all ok from both sides. You think HM team just said yes we'll buy it for £40m. MM got stung doing that to save us finding the debt was higher than identified.

4) I'm not in ITK but talking to legal people about big takeovers like this they attituide was the legal people would take their time considering every letter not just word for meaning and impact just to make sure they were getting best deal and not ripped off and both sides legal teams would have been doing this. This takeover should happen as long as nothing horrible comes out the wood work with FL. Yes frustrating because supporters jumped the gun expecting big signings and not been behind as in previous seasons. But prem squads will not annouce yet and there are still good players there.

WAWAW

Well said........I just think about where we were 3 years ago and we nearly went into administration......if we have to wait another 2 ,months to get this takeover sorted.....I can wait! There are many quality players we can pick up before or after August.......would have been nice to have more signings but the moaners on here are ridiculous!

[Belfast Owl 2]

MM needs to forget the takeover for now and start running the club

 

Having said that, short termism is his style anyway

 

On your advice?

[southportdc]

People saying MM needs to put money now in really should consider that since a price has already been agreed, anything he puts in now is immediately lost.

 

But by the same token, it makes no sense for HM to agree to pay £30 odd million for the club and then let it tread water or deteriorate. So when it's completed, he will put money in where necessary.

[Belfast Owl 2]

People saying MM needs to put money now in really should consider that since a price has already been agreed, anything he puts in now is immediately lost.

 

But by the same token, it makes no sense for HM to agree to pay £30 odd million for the club and then let it tread water or deteriorate. So when it's completed, he will put money in where necessary.

 

Nope the experts on here who know more about takeover conclude MM should pull the plug

 

And then put his hand in pocket.

[gurujuan]

Nope the experts on here who know more about takeover conclude MM should pull the plug

 

And then put his hand in pocket.

Hmm, it seems we have experts in both camps

[southportdc]

I wonder where they see that ending.

 

Already we're being sold for a faintly ridiculous 40m Euros or whatever. A few more years  of Milan funding us and we'd be unsellable.

[owls66]

Never easy for Wednesday, is it?

[Belfast Owl 2]

Hmm, it seems we have experts in both camps

 

I'm not suggesting anything cause we don't know enough.

[Chris E]

Trying to assess all this and really not sure what to make of it,

The sale of a business in very general terms follows stages

1) You put the business up for sale

2) People take an interest but in the main these are timewasters, tyre kickers

3) You get a serious person taking an interest

4) There is preliminary exchange of financial information, basic due diligence, proof of funds,

5) The Heads of Terms are agreed and signed off, an offer price, payment terms etc being part of that

6) The detailed due diligence is undertaken, the sale and purchase agreement document is discussed by the advisory teams, warranties given

7) The agreement is signed off and initial monies possibly put into an escrow account - Exchange of contracts

8) In this case FL ratification will be sought at this stage

9) On FL approval and presumably any other conditional clauses being met then there is Completion

The issue here is that on 10th June the inference (and perhaps we all mis-interpreted this) is that we were at or around stage 7 of the process, but it appears that in fact it was only stage 5. The well publicised issues for HM in Azerbaijan and at Lens have inevitably led to a delay in Stage 6.

So was Friday's meeting all about stage 7 - not saying to sign off but close to it

The fact that there has been a delay is no surprise in the world of business, the process can be a roller coaster. However the communication has not been ideal in this especially with the Wednesday fan base always looking to put 2 and 2 together to make 5

That's how I read it.

Also seen that Milan told one Wednesday fan at Donny that it will happen and that we all need to chill out.

[Guest sotonowl]

If it happens it won't be for at least 6 months, the bloke aint got any cash.

[owls66]

If it happens it won't be for at least 6 months, the bloke aint got any cash.

k den

[daveyboy66]

If it happens it won't be for at least 6 months, the bloke aint got any cash.

So it will be someone else then ?

[Roscoe P. Coltrane]

If it happens it won't be for at least 6 months, the bloke aint got any cash.

The drugs don't work!

[ReadingOwl]

Without reading all the drama queen statements on here and all the woe is me etc.  Some people need their bumps feeling and have a reality check.

I find this slightly patronising attitude/post - extremely annoying.

Seriously.

It might have been a decent, worthwhile read too. But, I didn't bother merely on the basis of the above.

[peggyowl]

Dear Reading Owl,

 

Please accept my sincere and full apology for what appears to be a patronising post but having skimmed a lot of the comments in various threads and posts over the weekend thats my opinion.

 

There are far too many people going way over the top with reactions, some deliberate which I would suggest is to get a reaction/stoke the fire as well.  A lot of us have been here long enough to see it happen time and time againm, it's part of the fun of Owlstalk.

 

I stick by what I said.  Too many people living in dreamland instead of reality.

 

I'm guessing the takeover will happen, we will have a healthy budget with some good players coming in it just takes time.

[The Dukeries Owl]

Dear Reading Owl,

 

Please accept my sincere and full apology for what appears to be a patronising post but having skimmed a lot of the comments in various threads and posts over the weekend thats my opinion.

 

There are far too many people going way over the top with reactions, some deliberate which I would suggest is to get a reaction/stoke the fire as well.  A lot of us have been here long enough to see it happen time and time againm, it's part of the fun of Owlstalk.

 

I stick by what I said.  Too many people living in dreamland instead of reality.

 

I'm guessing the takeover will happen, we will have a healthy budget with some good players coming in it just takes time.

 

 

:mama: Trust me I'm a good guy, I just gotta do lots of stuff at once now and again. What is you all bleatin abart?

[Chris E]

Without reading all the drama queen statements on here and all the woe is me etc. Some people need their bumps feeling and have a reality check.

1) The statement is what it is a statement that says very little but gives clues. My guess is the original announcement was made premature because something leaked in France linked to the RC Lens problems. The hope to announce before the first game gives a timescale basically now saying the process (hopefully) will be complete by then for the following reasons.

2) If you are a business man with multiple interests you prioritise where the most risk to your business is. Baghlan Group would come first with what ever issues it faced, which still isnt really clear but appeared to be a slight down grading of there financial status (which have now been sorted), The RC Lens issue would be second, that had a tight timesclae and needed attension from HM no matter if Mazrtel was there HM is the finance, and yes we would be last at this stage. If you read the statement it said he had other issues that required (not require) his attension which suggests these are now complete and his attension turns to us. Also if it wasn't going to hapopen do you think he would bother coming to the UK and getting Martel to fly here rather than HM been based in France and MM going there.

3) If you thought the takeover/ratification was going to happen in a matter of a couple of weeks you were seriously wrong. The statement says due diligence is completed and now just crossing the Ts and dotting the Is with the FL needs to be complete. A lot like buying a house there are an awful lot of stages to go through when your spending £40m to make sure it's all ok from both sides. You think HM team just said yes we'll buy it for £40m. MM got stung doing that to save us finding the debt was higher than identified.

4) I'm not in ITK but talking to legal people about big takeovers like this they attituide was the legal people would take their time considering every letter not just word for meaning and impact just to make sure they were getting best deal and not ripped off and both sides legal teams would have been doing this. This takeover should happen as long as nothing horrible comes out the wood work with FL. Yes frustrating because supporters jumped the gun expecting big signings and not been behind as in previous seasons. But prem squads will not annouce yet and there are still good players there.

WAWAW

Another good post.

There will be people with genuine concerns but there are also posters that thrive on negativity and love to stoke the fire.

[happy bunny]

Another good post.

There will be people with genuine concerns but there are also posters that thrive on negativity and love to stoke the fire.

Totally agree, the whingers do my nut in

[roaminowl]

Is anybody else sick of reading these 'house buying' analogies? Can't we come up with something else?

[Guest tha_knows]

Another good post.

There will be people with genuine concerns but there are also posters that thrive on negativity and love to stoke the fire.

Not really they've been concerned and realistic, when people questioned how long this process has took they got shot down in flames, insults hurled at them I.E called pigs.