TAKEOVER *NOT* CONFIMRED

[Sutekh]

Mega complex business transaction with multiple assets taking a long time to complete. Who’d have thought it, eh?

and with completely "unique" owner involved.

[The Green Programme]

Presumably with the (expected) Labour majority post-election this will help move things along quicker/have more positive backing from the MPs

Labour do love a quango or two…

They call it creating jobs…..

A regulator will just add to costs - and maintain the status quo - and create another layer of jobsworths justifying their existence and creating nothing.

Wherever a Club is, when the regulator begins - is where they will stay.

Football is a worldwide market.

A regulator would (unless it had worldwide powers) drive money away from UK.

Football should be run by football - not by quangos and foreign owners with dubious records.

EFL should just ratify transfers and players’ wage costs - for every Club, based on last years accounts; adding in any special factors such as promotion or relegation.

It’s not that hard if there is a will to do so.

A new quango is rarely the answer to anything.

Yeah, because allowing football to be run on free market principles has been working brilliantly for decades now, hasn't it?

This free market bullshït is economically, philosophically and sociologically illiterate.

A centrally planned economy is too complex to ever be effective in all areas. Where there are low barriers to entry and the capacity to respond quickly to changes in customer behaviour then the market is efficient.

Football is not such a "product." A football club is not easily replaced. It is part of its community, it is part of a society's intangible culture, there is no economic or human advantage in allowing the current unregulated model.

The barriers to replacing a failing club with a new one are vast. The costs of a regulator are negligible given football's' turnover and contribution to GDP.

And karbota agrees with you. That alone should be sufficient evidence that you're bang out of order.

So where is your evidence that a football quango will improve anything?

And how do you know what it will cost and how it would operate?

Who will run it? Who will pay for it? football has always been run on the basis of owners pouring money in and not necessarily making a penny.

It goes with the territory - high risk.

Remember that committee based decisions never produce the best outcome - they just produce the grey compromise that retains the status quo.

It’s just abdication of responsibility to a faceless organisation that will allow those involved in running football to pass the buck.

And reduction of opportunity.

Everything is a trade off and nothing is a pure solution.

For everyone to rush towards a route which has been proven to be expensive and ineffective on so many occasions; is beyond any reasonable justification.

The answer in my opinion is real time EFL scrutiny of transfers based on last years accounts and this years financing (resulting from changes brought about by promotion or relegation).

It just needs the will to take action on the part of the EFL.

Or will they take the cowardly route of appeasement like the Premier League by just changing the rules before more of the big clubs (City in particular) are found to be in breach (allegedly).

If we get a new owner who runs the club properly - the idea of a football quango will become obsolete; and this thread will become irrelevant.

[WestYorksRoyal]

According to Howe a deal is a long way off. Yet again we get our hopes up for nothing.

https://twitter.com/RFCLatest

A deal as in a completed deal was never going to be done this week - any deal was always going to be exlusivity but that is a massive deal in our situation. I've always taken any accounts shouting "its done" to mean a deal has been agreed not completed.

If they are drafting the Letter of Intent for the EFL when he was interviewed (so Monday or yesterday) then that is likely to go in today or tomorrow latest. What this means is the short term money issues go away - the prospective owner can either loan or deposit money in the club as a show of good faith from their side to complete the transaction - this will cover all outgoings and hopefully save us 2 points.

It will then likely be 6-8 weeks for the EFL to do their bit and the new owners to do whatever else they need to do and well, just let the legal procedures of purchase work through.

It can always still fall through but funding will be in place and unless the party not selected totally lose interest, then if it does there is another party who can step in.

So this is tentatively good news and all being well, we have the funds to see out the season, a deal completes shortly after the campaign ends - or before the final home game - and we can look forward to a relatively normal pre-season for the first time in what feels like forever.

If we can get to this point before HMRC and wages are due, it's a huge deal. No more points deductions, stability for the staff and players. Maybe they will be provided food and hotels for away games again. I'd put our survival chances in L1 at 90 - 95% if this can happen. I'd say more 60 - 70% if we have more deductions and the chaos continues.

Ignore those hoping for a sale to be completed. This week could be massive for us.

[Stranded]

While he didn't give away specifics, my interpersonal of his comments is that this Sports.com bid hasn't provided proof and funding and isn't the one.

I suspect that Chiron Sports Group, which has involvement with a previous Charlton director, is the front runner. Howe has been saying that there was one particularly credible bid ahead of the rest, while the EFL mentioned they were aware of a bid fronted by a well known and respected individual. The Athletic reported that these guys walked away on the Bearwood news last week, so it would not surprise me if they're back. I'm not the slightest bit ITK btw, just joining dots.

It was definitely strongly inferred that the group getting traction on social media - which would be sports.com - have been unable to show they have the funds to purchase. So that would suggest to me that yes, Chiron are the most likely party moving forward if they can also purchase the stadium.

Howe was certainly very clear that the terms of the sale demand that money is deposited as soon as Letter of Intent is completed to allow the club to meet its obligations - as the first of those is due on Friday the next 24 to 36 hours look to be key if we want to avoid further point deductions - though like many, I've already priced that in.

[NathStPaul]

Is that Brad Ray guy from Twitter on here? I have never seen someone talk so much but say so little in my life. Constantly having to talk about the takeover suggesting he's ITK but says NOTHING. Just stfu.

[WestYorksRoyal]

Is that Brad Ray guy from Twitter on here? I have never seen someone talk so much but say so little in my life. Constantly having to talk about the takeover suggesting he's ITK but says NOTHING. Just stfu.

I apologise to any fan that has felt misled or mentally drained by my posts.I was given information by someone at the club, I felt it was only fair to share with fellow fans. I’m not one for I know something and you don’t 8
elitist shite. I was excited by what I was told

I suspect not many of these accounts are actively lying. But they think that their mate in some mid level role at the club has the full picture when they clearly won't.

[WestYorksRoyal]

Got to say we're lucky to have Howe involved who knows the EFL process inside out. Sounds like you get plenty of time wasters or people who don't understand. I only learned this morning about the requirement to deposit 2 years funding with the EFL. It must significantly reduce the risk of everything falling through late in the day. It may still happen with us, but it will almost certainly be due to issues with the seller and not the buyer.

[Stranded]

Is that Brad Ray guy from Twitter on here? I have never seen someone talk so much but say so little in my life. Constantly having to talk about the takeover suggesting he's ITK but says NOTHING. Just stfu.

I apologise to any fan that has felt misled or mentally drained by my posts.I was given information by someone at the club, I felt it was only fair to share with fellow fans. I’m not one for I know something and you don’t 8
elitist shite. I was excited by what I was told

I suspect not many of these accounts are actively lying. But they think that their mate in some mid level role at the club has the full picture when they clearly won't.

There is a lot of 2+2=5 going on, which I get, as things are definitely picking up speed through necessity if nothing else but yes, the only people who will actively know the actual situation are those in the meetings which will probably be quite restricted to the buyers reps, Dai's reps and the clubs reps (Howe, lawyer and poss Bowen). So unless someone knows one of those people and they are happy to talk off the record knowing it will get out unofficially, at best all a contact at the club will know is there was a meeting between Howe and someone (may know company name at best).

[The Green Programme]

Anyone who uses socialist as an insult is an imbecile.

Uses the Daily Mail trope of quango = bad (they haven’t been quangos for decades anyway) and all regulation is bad, despite the countless examples of no/weak/underfunded regulators lead to apalling behaviour and dreadful standards by business.

Basically just thick as pig shit.

The usual insults and non arguments….

Where is your evidence that a new socialist quango has ever worked for anyone to the extent propagated upon its creation, other than those who run it?

Genuinely; show me…

And who is going to run it? Pay for it?
Who has any expertise?

I can see the gravy train that will be ‘investment in investigation’’ (Ulez style perhaps) - I’m sure it will convince everyone that the regulator will become the embodiment of reason and progress.

Underfunded….

Do you mean the - fail to do a good job, whilst being overpaid (compared to the lack of beneficial outcome) and then refusing to change and then demanding more money as the solution - kind of underfunded?

You carry on bringing about change by relying on others and then blaming them when it all goes wrong if you prefer.

[NathStPaul]

Tedious.

[Einstein agogo]

Anyone who uses socialist as an insult is an imbecile.

Uses the Daily Mail trope of quango = bad (they haven’t been quangos for decades anyway) and all regulation is bad, despite the countless examples of no/weak/underfunded regulators lead to apalling behaviour and dreadful standards by business.

Basically just thick as pig shit.

The usual insults and non arguments….

Where is your evidence that a new socialist quango has ever worked for anyone to the extent propagated upon its creation, other than those who run it?

Genuinely; show me…

And who is going to run it? Pay for it?
Who has any expertise?

I can see the gravy train that will be ‘investment in investigation’’ (Ulez style perhaps) - I’m sure it will convince everyone that the regulator will become the embodiment of reason and progress.

Underfunded….

Do you mean the - fail to do a good job, whilst being overpaid (compared to the lack of beneficial outcome) and then refusing to change and then demanding more money as the solution - kind of underfunded?

You carry on bringing about change by relying on others and then blaming them when it all goes wrong if you prefer.

I'm with Snowflake , you sound like a Gammon

[Snowflake Royal]

Anyone who uses socialist as an insult is an imbecile.

Uses the Daily Mail trope of quango = bad (they haven’t been quangos for decades anyway) and all regulation is bad, despite the countless examples of no/weak/underfunded regulators lead to apalling behaviour and dreadful standards by business.

Basically just thick as pig shit.

The usual insults and non arguments….

Where is your evidence that a new socialist quango has ever worked for anyone to the extent propagated upon its creation, other than those who run it?

Genuinely; show me…

And who is going to run it? Pay for it?
Who has any expertise?

I can see the gravy train that will be ‘investment in investigation’’ (Ulez style perhaps) - I’m sure it will convince everyone that the regulator will become the embodiment of reason and progress.

Underfunded….

Do you mean the - fail to do a good job, whilst being overpaid (compared to the lack of beneficial outcome) and then refusing to change and then demanding more money as the solution - kind of underfunded?

You carry on bringing about change by relying on others and then blaming them when it all goes wrong if you prefer.

I've personally worked with, for or under the following NGOs.

Financial Services Authority
Financial Ombusman Service
Ofwat
Consumer Council for Water
Drinking Water Inspectorate
Ofqual
Qualification Wales
Information Commissioner's Office

For all their flaws, in absolutely every case, the industries were much better off with them than without them.

The FSA and FOS played big roles in the investigation of and restitution for the rampant misselling of endowment mortgages.

The DWI helps ensure our drinking water quality is some of the best in the world.

Ofwat forced under performing companies to invest vast extra funds into improving their infrastructure to reduce sewer flooding and leaks. Long way to go.

CCW helped thousands of vulnerable and disadvantaged customers with their water companies and directly caused change on better answer times and many other things.

Ofqual forced change that meant students affected by Grendel and the Manchester Arena bombing got results they otherwise would have got nothing for. They've put in place a facility for students to challenge the accuracy of the marking of their exams at appeal which did not previously exist.

NGOs are extremely cheap for their effect. Generally costing the often multi-billion pound industries they serve a few million pounds, often covered by licence fees.

[Loafer]

has there ever been a more boring poster who just posts endless walls of nothing then The Green Programme?

I mean at least Snowball had SOME redeeming qualities and talked sense despite typing like a helmet sometimes

[Loafer]

today I learnt there is a Drinking Water Institute

[Winston Biscuit]

a lot of ITK twitter accounts that previously told us an announcement was coming this week are now suddenly ITK that it will take another 6-8 weeks

[Royals and Racers]

today I learnt there is a Drinking Water Institute

I understand they offer fluid working but it can be very draining at times.

[andrew1957]

Good to hear from Nigel Howe. The club sale is in good hands as I absolutely believe he cares about the club. But even being optimistic it sounds as though the process will take 8-10 weeks to complete at best and that assumes that Dai doesn't move the goal posts (perhaps literally) yet again.

We can only hope that Dai genuinely does want to sell the club this time.

[Sutekh]

a lot of ITK twitter accounts that previously told us an announcement was coming this week are now suddenly ITK that it will take another 6-8 weeks

[CholseyRoyal]

This makes for depressing reading. Its from Sky Germany:-

Despite interest from a considerable number of parties, Loitz is understood to have offered Yongge the highest bid. However, the Chinese owner is not making the process easy, as Loitz explained to Sky Germany:

“Mr. Dai put the club up for sale last year but wants to keep the majority by any means necessary. He is in a hopeless situation, but he doesn’t want to recognise that and is now sabotaging the sale as best he can.”

As well as this, according to Loitz, Yongge would be willing to “stab the interested parties in the back” and keep hold of Reading no matter what. In spite of Loitz having already been given the green light from the English Football League regarding a possible takeover of the club, with Yongge in the way, there is no guarantee the club will ever be sold.


https://www.getfootballnewsgermany.com/ ... eading-fc/

[WestYorksRoyal]

Good to hear from Nigel Howe. The club sale is in good hands as I absolutely believe he cares about the club. But even being optimistic it sounds as though the process will take 8-10 weeks to complete at best and that assumes that Dai doesn't move the goal posts (perhaps literally) yet again.

We can only hope that Dai genuinely does want to sell the club this time.

He said again that Dai is committed to selling. But I don't know how he can know that given Dai is absent. I view Howe's answers as akin to those of an old school politician (before they all started brazenly lying about a decade ago). He's trying to be honest with us, but spinning messages and ensuring we don't all start jumping ahead to fears of liquidation etc.,

The most recent interview was probably intended to quell the ridiculous speculation flying around.