TAKEOVER *NOT* CONFIMRED

[SouthDownsRoyal]

I've taken a few days to process the situation and I still feel a little uneasy about the group who have supposedly been given exclusivity. I haven't read the past ten or so pages, so some of this may have come up already.

If it is Chiron Sports Group, their website notes they're funded by Apeiron Investment Group and Infinitas Capital - who both appear to be private investment/venture capital groups. These sort of groups are purely focused on getting a return on their investment within a short time period (typically 3-5 years) and have short term objectives for this reason. If they get us promoted within a couple of seasons, I imagine we'd be up for sale instantly.

There's a reference to IPO expertise, which I can't imagine would be suitable for a club of our size.

The website has a huge amount of corporate jargon which doesn't say anything. Typically that suggests a complete absence of any meaningful information.

One of the two primary people listed on their website (Sam Helmy) is listed as being an investor in Leyton Orient - which could be problematic, due to rules of shared ownership. That said, he's also noted as being a 'buy-side advisor' for the takeover of Bristol Rovers - so he may not be directly involved.

A takeover of this sort will likely bring short term stability, which is what's needed in the current situation, but I'm not convinced by the medium-to-long term goals of the group and I feel we'd be at risk of financial issues again should be venture capital groups decide to stop investing (as it appears they are the ones with the money).

I'm far from excited by this group.

I don’t know who has signed exclusively but anyone is better than being wound up in the summer

[Snowflake Royal]

That's why you have clear regulations and measures in place, to make it as much as possible an objective analysis and not a subjective conclusion. Presumably, their remit fairly conservative - rather than judging whether prospective buyers are suitable, they evaluate whether there are any causes to disqualify them from buying a club. In the absence of any evidence to negate the sale, it gets approved. And they presumably have fairly limited powers to really investigate those questions anyway.

This. You'd think after years of this with Dai, people would understand what the test actually is now.

Do they have proof of funds sufficient to buy the club and run it for X period?
Do they have an unspent criminal conviction or other issue, like misconduct charges from the FL that would bar them from being a football club company director?

That's essentially it.

Nothing to do with how they intend to run the club. Nothing to do with how competent they are. What moral fibre they have.

[East Grinstead Royal]

Nor if they have a criminal record for, say, fraud?

[Crusader Royal]

They also have to show the source of their funds, which I think is a common anti money laundering requirement.

[Orion1871]

Everyone knows what the test does. That's the point, we can all see the major flaws in it and people want it to change.

[Hound]

I completely agree with Stranded. We are a club that is still technically on the brink of liquidation so for me any new owners that can prove they have enough funds to keep us going for at least another 18 to 24 months get a big thumbs up from me.

Yeah don't get me wrong - at this stage, anything is better than staying with Dai and going bust. But I'm not sure that on paper they're going to turn us into the next Brighton ... but then beggars can't be choosers.

Right now I think we'd all be happy with being the next Rotherham.

Just less northern

[Snowflake Royal]

Everyone knows what the test does. That's the point, we can all see the major flaws in it and people want it to change.

Clearly you don't read a lot of posts on here.

[Franchise FC]

In the day’s most unsurprising news, it appears that the input from William Storey seems to have actually slowed the sale process

[Snowflake Royal]

In the day’s most unsurprising news, it appears that the input from William Storey seems to have actually slowed the sale process

Which just shows how stupid Dai is. With only the gentlest of googling, we all knew he was an attenti9n whore without the money or capability to make a genuine offer

[Royalwaster]

However even Brogue fell for it and started this thread ...

[Brogue]

However even Brogue fell for it and started this thread ...

Well I fell for a story by a respected journalist in one of the most respected newspapers…. But yes. I was hoodwinked by the man himself who I had regular communication with

[tmesis]

That's why you have clear regulations and measures in place, to make it as much as possible an objective analysis and not a subjective conclusion. Presumably, their remit fairly conservative - rather than judging whether prospective buyers are suitable, they evaluate whether there are any causes to disqualify them from buying a club. In the absence of any evidence to negate the sale, it gets approved. And they presumably have fairly limited powers to really investigate those questions anyway.

Well, yes, it was more of a Devil's Advocate question than a genuine one.

I'm just saying, can you imagine the reaction if they refuse to sanction the takeover. I'd be a very brave call to make.

[Crusader Royal]

That's why you have clear regulations and measures in place, to make it as much as possible an objective analysis and not a subjective conclusion. Presumably, their remit fairly conservative - rather than judging whether prospective buyers are suitable, they evaluate whether there are any causes to disqualify them from buying a club. In the absence of any evidence to negate the sale, it gets approved. And they presumably have fairly limited powers to really investigate those questions anyway.

Well, yes, it was more of a Devil's Advocate question than a genuine one.

I'm just saying, can you imagine the reaction if they refuse to sanction the takeover. I'd be a very brave call to make.

As others have said I find it unthinkable that NH will waste everyone’s time by putting forward potential purchasers who won’t fly through the tests.
But if potential owners are fraudsters with no money I would rather the EFL did their job and rejected them now rather than worried about a Twitter storm. They would need to clearly explain their reasoning of course.

[Sutekh]

So, after the club is finally sold, really looking forward to the 13 yr old trolls on tw@tter going into meLOLtdown over the lack of spending.

[Crusader Royal]

So, after the club is finally sold, really looking forward to the 13 yr old trolls on tw@tter going into meLOLtdown over the lack of spending.

I have never used Twitter, but surely you can chose to ignore them ? Seems a bit like complaining about listening in to a conversation between people at the next table in the pub.

[tmesis]

So, after the club is finally sold, really looking forward to the 13 yr old trolls on tw@tter going into meLOLtdown over the lack of spending.

I have never used Twitter, but surely you can chose to ignore them ? Seems a bit like complaining about listening in to a conversation between people at the next table in the pub.

Indeed. One of the greatest advances in 21st century culture will be the realisation that twitter isn't important.

[SouthDownsRoyal]

So, after the club is finally sold, really looking forward to the 13 yr old trolls on tw@tter going into meLOLtdown over the lack of spending.

I have never used Twitter, but surely you can chose to ignore them ? Seems a bit like complaining about listening in to a conversation between people at the next table in the pub.

Exactly. Like on hobnob people complaining about other posters, ignore if you don’t like.

What do people do when a tv programme comes on they don’t like?

[SouthDownsRoyal]

However even Brogue fell for it and started this thread ...

Lol @ John Percy

[bcubed]

So, after the club is finally sold, really looking forward to the 13 yr old trolls on tw@tter going into meLOLtdown over the lack of spending.

I have never used Twitter, but surely you can chose to ignore them ? Seems a bit like complaining about listening in to a conversation between people at the next table in the pub.

Exactly. Like on hobnob people complaining about other posters, ignore if you don’t like.

What do people do when a tv programme comes on they don’t like?

What if they're unsure about the programme?

Then they get drawn in, need to know what happens next, keep watching, get disappointed, complain...

[WestYorksRoyal]

A significant update on companies House today.

https://find-and-update.company-informa ... F_Sez9nT7k

Redwood Holdings 1 Limited, who are the holding company set up by Chiron Sports Group, have taken out a fixed charge against Bearwood on the loan they have given us.

This confirms Chiron are the party involved.

This also means that if the deal falls through for any reason, and Dai does not repay the loan, they can place us into administration or seize Bearwood to get their money back. This is Dai ceding a lot of control on the process, and a sign that he is serious about selling in my view.