When will the takeover go through? The Waiting Game...

[Yorkshire Blue]

Ultimately no one on here knows exactly where we are with it but the sounds from ITKs and CP etc all suggest we are closer than what others believe.

Indeed. We don’t know how far along the process we are and we don’t know what the issue is.

The ITKs and CP have suggested we’ve been close before though and we were further away than they thought. If you look back to the Kimura bid I was warning that we were likely further away than people were anticipating as processes take time. I warned the same with the Council deal.

The good news is that the latest update makes me thing that things have moved on a little. They seem to have stopped talking and are now posturing. This usually happens in a negotiation before one side blinks. Hopefully the legal work can now catch up whilst Ron goes and speaks to CBRE and Citizen and the Council. If the hold up is about security though that’s not going to be resolved today IMO.

I agree on this BUT.....havent we been told that COSU are now trying to de-couple the FF part from the club purhcase,? if Ratty and son are awaiting for those conditions to be met, it dosent sound de-coupled to me and we could be waiting months for DD to come thru, Cowen mentioned 10 weeks, we dont have that amount of time left due to the bond requirements of the NL.
Thats the way ive read things i might be wrong but if so please advise me

Exactly. The Consortium agreed one deal. They now seek to agree a slightly different deal decoupling the property side.

 

[rayleighblue22]

Indeed. We don’t know how far along the process we are and we don’t know what the issue is.

The ITKs and CP have suggested we’ve been close before though and we were further away than they thought. If you look back to the Kimura bid I was warning that we were likely further away than people were anticipating as processes take time. I warned the same with the Council deal.

The good news is that the latest update makes me thing that things have moved on a little. They seem to have stopped talking and are now posturing. This usually happens in a negotiation before one side blinks. Hopefully the legal work can now catch up whilst Ron goes and speaks to CBRE and Citizen and the Council. If the hold up is about security though that’s not going to be resolved today IMO.



Exactly. The Consortium agreed one deal. They now seek to agree a slightly different deal decoupling the property side.

Thanks YBlue, thought i ad it right in my head but with all the changes and buggering about im starting to doubt myself lol.

 

[kentblues]

I agree on this BUT.....havent we been told that COSU are now trying to de-couple the FF part from the club purhcase,? if Ratty and son are awaiting for those conditions to be met, it dosent sound de-coupled to me and we could be waiting months for DD to come thru, Cowen mentioned 10 weeks, we dont have that amount of time left due to the bond requirements of the NL.
Thats the way ive read things i might be wrong but if so please advise me

They aren’t waiting- they simply want to screw the max out of COSU and will always, but always, play games until the last moment. Given playing Russian roulette with the NL deadline would be unwise (all be it an appeal creates uncertainty re the real deadline) then it’s for COSU to draw that line in the sand. But as has been said they are accomplished business people and don’t need our advice.
Shame SCC can’t apply more pressure somehow..

 

[Fairport]

Two possible scenarios

1. The current deal being proposed to the Martins may not be enough to cover their debts and borrowing which must be considerable. Unlikely I know but is possible. Of course it is probably just them being greedy.

2. If it all goes pear shaped the Martins will still have land as an asset, even without planning permission on it they could sell to the highest bidder who could then negotiate with the Council to build properties on it. Again, would such a deal cover their considerable debts.

The whole thing is such a mess, who knows what the future holds for SUFC.

 

[SunSea&Shrimpers]

I would like to know what @Tribal Chief and @Medway Blue think of the latest update from CP

 

[SS9_Shrimper]

Consortium will probably build on a lot of the carpark to recoup money.

 

[Yorkshire Blue]

Unfortunately the NL blundering in with a deadline has given Ron leverage he didn’t previously have.

Ron’s now gambling on the Consortium conceding so as to not see harm fall on the club.

Solomon the Wise only proposed this as a test to see who had the baby’s interests at heart but the NL seem to actually want to go ahead and cut the baby in half.

 

[Snowy]

Two possible scenarios

1. The current deal being proposed to the Martins may not be enough to cover their debts and borrowing which must be considerable. Unlikely I know but is possible. Of course it is probably just them being greedy.

2. If it all goes pear shaped the Martins will still have land as an asset, even without planning permission on it they could sell to the highest bidder who could then negotiate with the Council to build properties on it. Again, would such a deal cover their considerable debts.

The whole thing is such a mess, who knows what the future holds for SUFC.

In answer to both points only one man is to blame. Secured loans and promised too much of the pie to others without consideration for the club.
Now his empire could crumble and he could find himself with less money than expected, so is trying to leverage as much out of COSU for the sale of the club.

 

[Snowy]

Unfortunately the NL blundering in with a deadline has given Ron leverage he didn’t previously have.

Ron’s now gambling on the Consortium conceding so as to not see harm fall on the club.

Solomon the Wise only proposed this as a test to see who had the baby’s interests at heart but the NL seem to actually want to go ahead and cut the baby in half.

Think RM would eat the baby if it benefited him.

 

[GIBBO]

I feel sick and can't concentrate at work

 

[Yorkshire Blue]

Think RM would eat the baby if it benefited him.

I don’t know about that but I’m sure he’s trying to sell his half of baby with the offer of the second half to come.

 

[BEERMONSTER]

https://twitter.com/x/status/1808130478303580547

 

[Snowy]

I don’t know about that but I’m sure he’s trying to sell his half of baby with the offer of the second half to come.

As long as he's not putting baby in the corner.

 

[BEERMONSTER]

https://twitter.com/x/status/1808127388779151512

 

[Hawkwell Blue]

CP’s tweet and the use of the word “hearing” doesn’t make me feel that’s definitely the case. And writing to Ron urging him to take the deal was, frankly, a complete waste of time.

 

[Hooly]

I feel sick and can't concentrate at work

Same here. I've been on an anti-diabetes diet for the last few months but have spent the last week eating cake, biscuits & basically anything in reach. I feel sick both physically & mentally.

 

[Barling Magna]

Same here. I've been on an anti-diabetes diet for the last few months but have spent the last week eating cake, biscuits & basically anything in reach. I feel sick both physically & mentally.

Ah, now I think I can help you there. Cut out eating cake, biscuits and basically anything within reach which I assume could include plates, cutlery, mugs, teabags and so on. None of these are good for someone on an anti diabetes diet and most of them are not good for anyone except Monsieur Mangetout.

You're welcome.

 

[TJC]

Might just come back when fixtures are released to see if we are on it

 

[thenobster]

Oi! Ferret Weasel!!! Sell it for goodness sakes!

 

[Cricko]

Unfortunately the NL blundering in with a deadline has given Ron leverage he didn’t previously have.

Ron’s now gambling on the Consortium conceding so as to not see harm fall on the club.

Solomon the Wise only proposed this as a test to see who had the baby’s interests at heart but the NL seem to actually want to go ahead and cut the baby in half.

That's the way i see it. he will sit it out if they do not agree his terms and wait till the NL make their decision, then if the consortium need to take out the insurance bond he has them by the short and curlies.

I may be completely wrong of course but it would be typical rat.