by WestYorksRoyal » 13 Dec 2023 08:40
by blythspartan » 13 Dec 2023 10:11
by Greatwesternline » 13 Dec 2023 10:19
WestYorksRoyal Anybody else starting to get seriously concerned that Dai's not going this season?
by Snowflake Royal » 13 Dec 2023 10:22
HoundWestYorksRoyal Anybody else starting to get seriously concerned that Dai's not going this season?
Yep and nor Selles
by morganb » 13 Dec 2023 10:47
by Sutekh » 13 Dec 2023 12:03
morganb For the other two clubs that Dai owned that went under, do we know if he attempted to sell them and if the sale process followed a similar pattern to what we are seeing? Or did they just die?
by Pepe the Horseman » 13 Dec 2023 13:24
Sutekhmorganb For the other two clubs that Dai owned that went under, do we know if he attempted to sell them and if the sale process followed a similar pattern to what we are seeing? Or did they just die?
Believe they just sort of died and there was no attempt to sell. Any Roeslaere fans on here?
by From Despair To Where? » 13 Dec 2023 14:24
morganb For the other two clubs that Dai owned that went under, do we know if he attempted to sell them and if the sale process followed a similar pattern to what we are seeing? Or did they just die?
by blythspartan » 13 Dec 2023 14:36
by WestYorksRoyal » 13 Dec 2023 14:46
blythspartan If Dai just wants to kill us like his 2 other clubs how does that actually work?
I understand that only Dai can put us into administration, which would most likely result in new ownership and a points deduction, but we’d survive as a club. However, what would be the main trigger for the club to be liquidated?
Would it be a case of funds running out and not being able to fulfil our fixtures for the rest of the season so the EFL would kick us out of League One?
by Royalwaster » 13 Dec 2023 16:24
GreatwesternlineWestYorksRoyal Anybody else starting to get seriously concerned that Dai's not going this season?
If there are 4 parties interested in buying Reading, there will be 4 sets of du diligence, 4 sets of negotiations.
The owner will be playing these offers against one another, its an auction of sorts.
Depending on who the winner is, it could be a number of weeks until they meet the Fit n Propa test, due to the number of parties involved and their source of funds, especially if they live abroad.
I would expect were a deal to be done before Xmas that if its a foreign consortium we might see fit n propa passed by late Feb?
If it was Mike Ashley for real, it might be quicker, given his source of wealth is very public and very well known.
Tbh i dont think Mike Ashley would see us as a venture he'd be interested in, he's more interest in buying assets with no other buyers interested, and picking them up for close to zero so that there is almost no down side risk. If he's having to compete with 3 other buyers he isn't getting it for next to nothing and it represents significant risk.
by Greatwesternline » 13 Dec 2023 16:45
RoyalwasterGreatwesternlineWestYorksRoyal Anybody else starting to get seriously concerned that Dai's not going this season?
If there are 4 parties interested in buying Reading, there will be 4 sets of du diligence, 4 sets of negotiations.
The owner will be playing these offers against one another, its an auction of sorts.
Depending on who the winner is, it could be a number of weeks until they meet the Fit n Propa test, due to the number of parties involved and their source of funds, especially if they live abroad.
I would expect were a deal to be done before Xmas that if its a foreign consortium we might see fit n propa passed by late Feb?
If it was Mike Ashley for real, it might be quicker, given his source of wealth is very public and very well known.
Tbh i dont think Mike Ashley would see us as a venture he'd be interested in, he's more interest in buying assets with no other buyers interested, and picking them up for close to zero so that there is almost no down side risk. If he's having to compete with 3 other buyers he isn't getting it for next to nothing and it represents significant risk.
It doesn't quite work like that - you start with bidders and if one bidder has their offer accepted de facto, they then get the chance for a proper due dilligence process which may result in a firm and binding offer. If that process fails, the previous bidders could in theory step in at that stage, but the process starts afresh and does not necessarily move onto the DD process for each of those offers unless there is once again some kind of de facto agreement. Sometimes this process can be used by the seller to extract more from the buyer - e.g. by refusing the bid and offering it to one of the other bidders etc. so it's a tricky process. So it could be that we're not far off - or it could be that it all falls through and all the bidders walk away. I generally do not believe the scenario that Dai wants to screw us over out of spite is particularly realistic ... he is an idiot, but not such an idiot, as he'd be cutting off his nose to spite his face.
by Stranded » 13 Dec 2023 16:54
by WestYorksRoyal » 13 Dec 2023 16:57
Stranded Someone tweeting "a source" stating Genevra have walked away due to Dai making new demands.
by morganb » 13 Dec 2023 17:22
Joe
@iJC106
Been told today that the Genevra sale is off. A few shifts of the goal posts have seemingly complicated negotiations in late stages. Again, not claiming to be a journalist, and I know I said before the sale was done, but that was before Dai’s requested changes late on #ReadingFC
This is as per a very reliable source of mine. Sorry to be the bearer of bad news but seems like to continue protesting is the only way forward, potentially even abandonment. No matter what happens next, we must not stop. #ReadingFC
4:41 PM · Dec 13, 2023
@PaulFrankfurt71
Fully believe it, though naturally take any rumour with a pinch of salt, want Dai gone but something about Genevra made me uncomfortable #read
@iJC106
Of course, this unfortunately I do believe firmly. Goes hand in hand with the dead silence around the sale in recent weeks and the late demands Dai has made. At the end of the day I’m a fan who wants the best for the club who will report anything told by someone reliable
@Simps100
Sounds like something maybe in the rumors of Samuelson and Howe causing issues too. Worrying Samuelson is anywhere near us again but it don’t surprise me at all
by blythspartan » 13 Dec 2023 18:16
by Sutekh » 13 Dec 2023 18:50
by Mid Sussex Royal » 13 Dec 2023 18:54
by WestYorksRoyal » 13 Dec 2023 18:57
Mid Sussex Royal Never heard of Joe, does he have a track record of getting stuff right?
by Mid Sussex Royal » 13 Dec 2023 19:25
WestYorksRoyalMid Sussex Royal Never heard of Joe, does he have a track record of getting stuff right?
Never before recently. The first time he posed as "ITK" he said the sale was basically agreed, and then a week later James Earnshaw reported that exclusivity with Genevra was imminent. So reasonable success rate there and I'm probably inclined to believe this one too.
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