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

[Shrimper]

I hope when it does go through we get a flurry of releases for tickets, kits, etc

 

[Blue Yonder]

What I’m struggling to reconcile is Maher’s comments and the takeover apparently just waiting on the formality of NL approval. Because COSU already have people on the inside with Tom Lawrence as CEO. They could begin implementing their plans without waiting for NL approval. They’ve already put money in without owning it so it would be perverse to put money in when they didn’t have a legally binding deal with Ron but get cold feet about doing stuff once they did have a legally binding deal with Ron.

Maher isn’t usually one to complain to refs. publicly.

There would seem to be three options to explain this:

1) Maher’s comments became out of date almost immediately and everything was signed and lodged with the NL only after Saturday
2) Everything has been signed and it is waiting on the NL but then there are further steps beyond that required that nobody has mentioned yet that will hold matters up and aren’t a formality
3) Maher’s comments were directed at the Consortium to speed their plans up/invest more and there’s a disconnect between Maher and the Consortium.

On 3. it's hard to imagine COSU anything other than keen to press on. It leaves another possibility that capital expenditure will be on those things that will generate more revenue and that on the playing side they are starting as they mean to go on and that the player budget is nearly spent and won't be extended.

 

[kentblues]

What I’m struggling to reconcile is Maher’s comments and the takeover apparently just waiting on the formality of NL approval. Because COSU already have people on the inside with Tom Lawrence as CEO. They could begin implementing their plans without waiting for NL approval. They’ve already put money in without owning it so it would be perverse to put money in when they didn’t have a legally binding deal with Ron but get cold feet about doing stuff once they did have a legally binding deal with Ron.

Maher isn’t usually one to complain to refs. publicly.

There would seem to be three options to explain this:

1) Maher’s comments became out of date almost immediately and everything was signed and lodged with the NL only after Saturday
2) Everything has been signed and it is waiting on the NL but then there are further steps beyond that required that nobody has mentioned yet that will hold matters up and aren’t a formality
3) Maher’s comments were directed at the Consortium to speed their plans up/invest more and there’s a disconnect between Maher and the Consortium.

In the absence of facts its easy to speculate- and in the end it creates an environment where no-one is definitely right or wrong. But it appears from those closest to it on here that the NL approval is all thats outstanding.

It seems to me that COSU are simply putting the minimum £££ in until this is finalised. And all parties in this process have been using time pressure to force action. Including the NL and their bond wheeze. If COSU were now just ploughing ahead issuing STs, paying off the creditors, bringing in loads of players, then perhaps that just takes the pressure off the NL and others to get it done. Probably trust is at a low level and not just with Ron. No doubt the NL are being reminded frequently of the impact of their "delays".

Its easy to point to the two players coming in. I think those two had been going on a while and had probably reached the point, with the lifting of the embargo, we had to either complete or lose out. Probably for any more COSU want it all completed. Who can blame them..

 

[Blue Yonder]

A few quid to finish the training pitch refurb would be welcome or are we on with that now ?

 

[Target man]

I think this is really sad when you consider the amount of money there is in football
I really do think there needs a better way of distributing some if the monies that come through in order to support the lower league clubs
I really do hope they find a buyer

Will never happen. Just like our society, powers at the top will ensure the rich get richer and the poor continues to be poor. Top level clubs do not and will not recognise the National League, just as Sky Sports news, etc, demonstrates regularly.

 

[bazzashrimper]

Does anyone know what the actual delay is with the NL? I presume fit and proper owner tests were done a while back?

 

[overseas shrimper]

A few quid to finish the training pitch refurb would be welcome or are we on with that now ?

They've ploughed almost £4m into the club already. I won't blame them if they don't put in more (save the absolute necessary) until they own the club.

 

[Hampshire Shrimp]

Any sign of any " White Smoke ", with a strong smell of onions above Roots Hall today

 

[Yorkshire Blue]

A few quid to finish the training pitch refurb would be welcome or are we on with that now ?

I know @BoyWonder2 has spoken of the need to improve the physio team. That’s the type of thing where they could be advertising/interviewing candidates in advance - and who knows maybe they already are.

 

[danbowen]

Will never happen. Just like our society, powers at the top will ensure the rich get richer and the poor continues to be poor. Top level clubs do not and will not recognise the National League, just as Sky Sports news, etc, demonstrates regularly.

Shame it doesnt help Spurs eh haha

 

[Blues4LifeDan]

As much as it would be welcome and a huge boost to get more players in, there is zero point if the conditions they are coming to are horrendous. It doesn't matter how good your squad is or how big it is, if they are liable to get injured because of the lack of facilities and expertise. If I had to choose between more players or a cash injection into the facilities and expert personnel, I'd rather go for the latter. It's those things that will keep a smaller squad fit and healthy.

Of course, if we can get both, fantastic!

 

[Target man]

Shame it doesnt help Spurs eh haha

They have plenty of money ... Chairman keeps it for himself! Sound familiar? Lol

 

[TheSouthendUnitedRunner]

They've ploughed Al.ost £4m into the club already. I won't blame them if they don't put in more (save the absolute necessary) until they own the club.

Over £4m now…

Despite JR publicly stating “no more until we own the club” he has ploughed more in, well the consortium have.

 

[Yorkshire Blue]

They've ploughed Al.ost £4m into the club already. I won't blame them if they don't put in more (save the absolute necessary) until they own the club.

If they are legally committed to buy the club (which is what the suggestion was, subject to the formality of NL approval) then they should be protecting their investment. And Kev Maher is saying that the delay is hurting their investment.

It makes no sense to put in £3.5m before you have an agreement in place and only once you have an agreement in place start worrying that you don’t technically own it yet. They’ve already taken the leap of faith.

 

[Medway Blue]

In the absence of facts its easy to speculate- and in the end it creates an environment where no-one is definitely right or wrong. But it appears from those closest to it on here that the NL approval is all thats outstanding.

It seems to me that COSU are simply putting the minimum £££ in until this is finalised. And all parties in this process have been using time pressure to force action. Including the NL and their bond wheeze. If COSU were now just ploughing ahead issuing STs, paying off the creditors, bringing in loads of players, then perhaps that just takes the pressure off the NL and others to get it done. Probably trust is at a low level and not just with Ron. No doubt the NL are being reminded frequently of the impact of their "delays".

Its easy to point to the two players coming in. I think those two had been going on a while and had probably reached the point, with the lifting of the embargo, we had to either complete or lose out. Probably for any more COSU want it all completed. Who can blame them..

This about sums it up.

I wouldn't read any more into Kev's words last weekend, other than he's been frustrated since the squad came back for pre-season training. He was probably hopeful that they'd be able to use the new training facility, but they can't until the sale has completely gone through. The start of pre-season training has therefore been impacted by the poor facilities and poor surfaces at B&L. That's all there is to it with Kev's words.

 

[Medway Blue]

If they are legally committed to buy the club (which is what the suggestion was, subject to the formality of NL approval) then they should be protecting their investment. And Kev Maher is saying that the delay is hurting their investment.

It makes no sense to put in £3.5m before you have an agreement in place and only once you have an agreement in place start worrying that you don’t technically own it yet. They’ve already taken the leap of faith.

Without wanting to diminish what they've done so far, there are semantics at play here. They haven't necessarily parted with almost £4m - yet. A large chunk of that is committed spending via agreements with creditors to clear debts to them once the club changes hands.

 

[SUFCGoals]

Does anyone know what the actual delay is with the NL? I presume fit and proper owner tests were done a while back?

Who said it's a delay? Maybe it's just how long the National League take to review the takeover.

 

[* ORM *]

Looks like Woking will be going into administration. Financial mismanagement happens a lot in non league.

The chairman got a loan from his parents to keep them afloat. Thats what Ron should have done in the past

That’s part of the reason I stick with old fashioned values. I knew nothing good would come from this current woke world

 

[Rob1920]

Woking: National League team facing administration, admits owner Drew Volpe

Woking's owner says the National League club will go into administration if a buyer cannot be found in the next few weeks - and he is willing to sell for £1.

bbc.co.uk

Another tale of the folly of throwing money at a club to try and get it promoted with no safety net if it fails. Its all very heroic, putting in 3.5m over three years, then borrowing another £600k from his parents to keep it afloat, but I'm pretty sure the average Woking fan would be happy just having a sustainable club established in the NL with the occasional cup run or tilt at promotion if they just happen to manage to pull together a cheap but over-acheiving team once every ten years or so. A familiar story we know only too well..

 

[DCC]

Another tale of the folly of throwing money at a club to try and get it promoted with no safety net if it fails. Its all very heroic, putting in 3.5m over three years, then borrowing another £600k from his parents to keep it afloat, but I'm pretty sure the average Woking fan would be happy just having a sustainable club established in the NL with the occasional cup run or tilt at promotion if they just happen to manage to pull together a cheap but over-acheiving team once every ten years or so. A familiar story we know only too well..

I believe (someone correct me if I'm wrong!) that Woking are the longest-serving club in the division by quite some way - so arguably they've had that. After 20 of so years at the same level, it's hard to argue against "rolling the dice" - especially looking at the likes of Sutton, Bromley, Harrogate, Salford etc who've made the leap as traditionally smaller clubs.