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

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I wonder how long the national league will take to ratify a takeover.

Let's be honest here, the national league are a largely inept organisation and could be described as amateur.
 
danbowen said:
Are you unable to see that it is in the final stages and will be done imminently? CP tweet supports that, the fact we are out of an embargo, no point deduction, signing players for fees etc and most importantly it is confirmed that it is with the league for sign off. There are loads of positive signs so chill out. We are in a much, much better position in every single way than last season.
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Sssshhhhhhhhh big deep breaths
 
Tommy2holes said:
I wonder how long the national league will take to ratify a takeover.

Let's be honest here, the national league are a largely inept organisation and could be described as amateur.
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Fully agree with the description of the NL. If lawyers are happy with it I don't see why the NL wouldn't be. The NL couldn't organise a p*ss up in a brewery. I doubt anyone there actually knows what they are looking for. A bit like the FA and their laughable fit and proper test.
 
danbowen said:
Fully agree with the description of the NL. If lawyers are happy with it I don't see why the NL wouldn't be. The NL couldn't organise a p*ss up in a brewery. I doubt anyone there actually knows what they are looking for. A bit like the FA and their laughable fit and proper test.
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Possibly looking for a brown envelope??
 
So can we have hope that if its nowin the final stages .That it should not take long for the powers that be to msee that .The club will be run properly at last And the finaces are good . Please hurry up and sign it off .
 
danbowen said:
Fully agree with the description of the NL. If lawyers are happy with it I don't see why the NL wouldn't be. The NL couldn't organise a p*ss up in a brewery. I doubt anyone there actually knows what they are looking for. A bit like the FA and their laughable fit and proper test.
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The NL are likely to outsource such work to a law firm. They will need to review not only shareholder agreements but also the leasehold arrangements for the ground.

It’s essentially impossible to have an effective fit and proper test. At best you’re just going to filter out some of the unscrupulous want to be owners. This is why there has been a push towards a football regulator (this though won’t be the magic cure some think it will be, hopefully it will improve the situation as the Fit and Proper Owners test did).
 
Yorkshire Blue said:
The NL are likely to outsource such work to a law firm. They will need to review not only shareholder agreements but also the leasehold arrangements for the ground.

It’s essentially impossible to have an effective fit and proper test. At best you’re just going to filter out some of the unscrupulous want to be owners. This is why there has been a push towards a football regulator (this though won’t be the magic cure some think it will be, hopefully it will improve the situation as the Fit and Proper Owners test did).
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Do they have to check on each of the 10 members that are taking over the club .Hope not that could take weeks .
 
Not sure they will look at leasehold arrangements for the ground. That seems an EFL requirement rather the NL as shown by the Gateshead nonsense.

It’s the FA who conduct the fit and proper test on behalf of the NL- so we may be imploring the wrong incompetent organisation to get a wiggle on…
 
Flinty said:
I do find it strange that the fit and proper person test is done now rather than at initial engagement. Surely you want clarification that prospective owners are fit before you start negotiating not after
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Agree - was it Kimura who completed that process at one point?

I don't think any of the itk have said we're waiting for that though - but that we are awaiting 'league ratification' whatever that means
 
tommy tucker said:
Do they have to check on each of the 10 members that are taking over the club .Hope not that could take weeks .
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Officers of the club- takes half a page of definition in the regs!!- but basically for our purposes anyone who will be a director of COSU per companies house- which may well be all consortium members -I guess there is a distinction between shareholder and director so they may all be shareholders but a subset be directors.
Bizarrely it appears the Owners and Officers fit and proper test does not apply to shareholders? So if you own 60% of the shares (and effectively own the club) but are not a director you’re a not an officer? What could go wrong?
The EFL has other tests re funding etc. so these no doubt apply. Presumably also the responsibility of the FA?
 
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