SUFC: The Future SUFC up for sale

[Napster]

exactly my thoughts - a touch of sour grapes

It's really not. Just adding a dose of realism to the equation.

 

[GIBBO]

We at the DD stage. They are surprised the club hasn't said anything.

 

[fredheim_holm]

It's really not. Just adding a dose of realism to the equation.

I think the touch of sour grapes is probably the 5% of what he said about his consortium being a better offer for the club.

The rest seemed balanced and useful.

 

[Spaceman Spiff]

We at the DD stage. They are surprised the club hasn't said anything.

I suspect this is just Ron being Ron, communicating in line with how he always has.

He may well feel that delays at this stage and the lack of any official club comms to give credence to the takeover process and the stage its at create a bit of leverage for his own ends as the club loses time to prepare for next season (not Ron’s worry) and might miss out on a transfer target or two. All so he can hold out for the bigger wad he wants and maybe, he thinks, up the pressure on Kimura to move towards his numbers. I wouldn’t rule out silliness like feeding a fake transfer story to an internet hack either.

 

[Tommy2holes]

I think the touch of sour grapes is probably the 5% of what he said about his consortium being a better offer for the club.

The rest seemed balanced and useful.

Also. He is talking in general terms ie what he believes is going on.

He isn't involved and never ever got anywhere near the books or the club. As much as he can speculate, it's exactly that.

It doesn't sound like Kumira are mugs and you don't get where they are in their own business by not having a clue.

They will be well aware as local lads of what the club has been through, the views of businesses, footballing bodies and other clubs, as well as fans and staffs views.

We are a basket case and they know it!

I would imagine the club comes with a million problems to be addressed, but realising what a mess the club is in, isn't one of the them.

 

[Callumturner22]

Definitely know nothing beyond what I see on here and from a friend who has his ear to the ground and has called correctly so far. The only thing I can compare this with is when you buy a house. Until you exchange contracts you can be 95% done for a while but nothing moves forward or happens until there is confirmation that exchange has happened - at that point there is a legal commitment, but you dont own the property and you have no say over anything until completion takes place. That period between exchange and completion is nail biting, as there is no reason for it to go wrong, yet it can be delayed or not happen at all for no end of reasons!

With business sales the fundamentals are likely to be the same but the processes are different, so the drains up exercise will only start to happen now that a formal agreement has been reached. This should be relatively straightforward provided both parties have been honest about the skeletons, but who know how deep the bones are in this case?

Yeah good point fingers cross it keep going the right way first and foremost . Especially so everyone know where they stand

 

[Yorkshire Blue]

Who knows, I was told by someone within the buying group it was a done deal.

Now, why didn't they say all agreed now in principle on to legals going take a couple of weeks.

Who knows? I'm trying to get some clarity on the matter

One person’s view of a done deal varies to another.

Some will describe it as a done deal when they’ve agreed a price for a house subject to the legal checks, surveyor etc

Some will only describe it as done once they’ve signatures on a page and they’ve exchanged.

Some will wait to completion and they have the keys in their hand.

Simon Jackson has got an army of people starting work on it this week. As I said, he wants it done as quickly as possible, as does Ron Martin, and there are also some milestones from the National League between now and 12th July that will need to be borne in mind. Of course 12th July is important, but it would be nice to get to 12th July with the club still a member of the National League.

Yes, things could be found which might delay things but nobody really knows what, if anything - only perhaps Ronald.

At the end of the day, the DD could be as long or as short as the buyer wants it to be. If they're willing to turn a blind eye to something, or are happy to not dig further on something, then that is their prerogative and will shorten the time it takes, but nobody can predict that.

*As the buyer and their funders

 

[kentblues]

Simon Jackson has got an army of people starting work on it this week. As I said, he wants it done as quickly as possible, as does Ron Martin, and there are also some milestones from the National League between now and 12th July that will need to be borne in mind. Of course 12th July is important, but it would be nice to get to 12th July with the club still a member of the National League.

Yes, things could be found which might delay things but nobody really knows what, if anything - only perhaps Ronald.

At the end of the day, the DD could be as long or as short as the buyer wants it to be. If they're willing to turn a blind eye to something, or are happy to not dig further on something, then that is their prerogative and will shorten the time it takes, but nobody can predict that.

Rather than blind eye I would say it comes down to materiality. That is focusing on the areas that can have a material impact on the numbers/viability of the deal. Notwithstanding you don't know what you don't know.

 

[Andy_S]

I think the touch of sour grapes is probably the 5% of what he said about his consortium being a better offer for the club.

The rest seemed balanced and useful.

Agreed, he really didn’t need to chuck that in.

All very Alan Partridge - needless to say, I had the last laugh.

 

[Carl]

I think the touch of sour grapes is probably the 5% of what he said about his consortium being a better offer for the club.

The rest seemed balanced and useful.

Not going to bite on all comments - but I think that what I said is common sense.

Take us out of it and let’s say Kimura made an offer back then. Again, it would likely have been a better offer for Ron when the gun isn’t pointing at his head.

Urgency to sell doesn’t help the seller.

Is it sour grapes? Maybe a little, of course I wanted to achieve one of my boyhood dreams - *but* it’s probably more frustration that the pain inflicted on so many: fans, staff, etc could have been avoided had Ron Martin had common courtesy to respond, sign an NDA and at least look at our proof of funds and offer.

The fact he didn’t respond, whilst simultaneously leaving all and sundry unpaid, is where my emotions in this matter are focused.

 

[londonblue]

We at the DD stage. They are surprised the club hasn't said anything.

I'm not. They're all NDA'd, and they said about as much as they could last time.

 

[Carl]

We at the DD stage. They are surprised the club hasn't said anything.

If the bailiffs aren’t at is door, and the buyers are still willing, what benefit does he have to saying anything?

 

[Holy Joe]

Informative, yes


Sour grapes, sounds that way.

We do not know how long Kumira have been working away on this.

They were apparently at a game before the season ended. It may well be that Ron was approached well before he officially announced that he would sell the club.

I would hazard a guess that a large majority of "DD" has already been done and an official announcement will be coming this week. Not in the know, but just seems to make sense to me.

There is only limited DD you can do in advance. It's a 2 way process between buyer and seller and there representatives. Without the agreement of the seller to engage in the DD process you're abit stuffed. That agreement to engage only came about on Friday(?), with the alleged exclusivity. So it depends how thorough the buyer wants to be as to how long it will take.

 

[Carl]

I'm not. They're all NDA'd.

Wallop

 

[Rob1920]

It’s in no one’s interests to drag it out any longer than necessary. I’m sure both parties will be doing their best to get it finalised, even Ron.

 

[Carl]

It’s in no one’s interests to drag it out any longer than necessary. I’m sure both parties will be doing their best to get it finalised, even Ron.

I’d argue that it’s in the lawyers interests, but that’s me being someone who also gets frustrated by how long this stuff takes!

 

[Avl1983]

Not going to bite on all comments - but I think that what I said is common sense.

Take us out of it and let’s say Kimura made an offer back then. Again, it would likely have been a better offer for Ron when the gun isn’t pointing at his head.

Urgency to sell doesn’t help the seller.

Is it sour grapes? Maybe a little, of course I wanted to achieve one of my boyhood dreams - *but* it’s probably more frustration that the pain inflicted on so many: fans, staff, etc could have been avoided had Ron Martin had common courtesy to respond, sign an NDA and at least look at our proof of funds and offer.

The fact he didn’t respond, whilst simultaneously leaving all and sundry unpaid, is where my emotions in this matter are focused.

Completely understand if you don't want to answer this question, just genuinely interested, did you not consider making a bid or registering an interest when the club went up for sale?

 

[Spaceman Spiff]

I'm not. They're all NDA'd, and they said about as much as they could last time.

NDAs are not all carbon copy dumb instruments banning any communication of any kind, at any time. Who knows what these NDAs say or whether a comms is possible.

Some comms can still happen, by agreement, at the right times. Unless the person who would need to push the button on those comms chooses not to.

 

[Carl]

NDAs are not all carbon copy dumb instruments banning any communication of any kind, at any time. Who knows what these NDAs say or whether a comms is possible.

Some comms can still happen, by agreement, at the right times. Unless the person who would need to push the button on those comms chooses not to.

They usually are carbon copy dumb instruments - I doubt I’ve seen one that hasn’t just been ripped off from somewhere else - but most parties to NDA’s know the game and yes, when both sides agree, joint announcements can be made.

 

[Carl]

Completely understand if you don't want to answer this question, just genuinely interested, did you not consider making a bid or registering an interest when the club went up for sale?

Nope, shared the reasons back then, we couldn’t make it work as club only on the funding structure we’d negotiated at the time.