Laceups Posted May 29 Share Posted May 29 I must admit that I’ve only just heard and read about it. Doesn’t seem to be that much info other than it’s worth north of 100 million and likely to go through soon subject to EFL approval. Anyone know much about it, who’s involved and will this bail the DRAWBs out from what a lot of people were saying on here about how they were absolutely fooked if they came down? Quote Link to comment Share on other sites More sharing options...
Reesh Posted May 29 Share Posted May 29 It's going to the EFL to decide if they fit the proper person test, it could drag on a fair while yet. Don't think due diligence has been done either side yet. American Capitalist fund who have tried for a few clubs including the Berties last summer. 1 Quote Link to comment Share on other sites More sharing options...
HoylandOwl Posted May 29 Share Posted May 29 Wonder if it’s all piss and wind like the last takeover attempt? Quote Link to comment Share on other sites More sharing options...
Tewksbury Posted July 3 Share Posted July 3 1 Quote Link to comment Share on other sites More sharing options...
mkowl Posted July 3 Share Posted July 3 It sounds like they have re-financed / extended the arrangements with Macquarrie. Presumably on the basis of re-commencing parachute payments At some point it will hopefully go tit's up Quote Link to comment Share on other sites More sharing options...
madowl Posted July 3 Share Posted July 3 20 minutes ago, mkowl said: It sounds like they have re-financed / extended the arrangements with Macquarrie. Presumably on the basis of re-commencing parachute payments At some point it will hopefully go tit's up Re-financing loans is the least of their problems at the moment 🤣 Quote Link to comment Share on other sites More sharing options...
Otto_Man Posted July 3 Share Posted July 3 Pig mate reckons the takeover is off as the EFL won't ratify it, no idea if it's true or not, but he reckons it'll be announced in the next couple of days. Maguire reckons the loan is against the next two seasons parachute payments, dunno if they've got some instalments due and don't want to risk more point deductions?! Quote Link to comment Share on other sites More sharing options...
owl4ever1867 Posted July 3 Share Posted July 3 46 minutes ago, madowl said: Re-financing loans is the least of their problems at the moment 🤣 And those at 1867 think Chansiri hasn't got a clue what he's doing..... Said it a few months ago & I'll say it again.... Give me DC over the owners at the likes of Reading & Sheffield United. Quote Link to comment Share on other sites More sharing options...
Billysboy Posted July 3 Share Posted July 3 3 minutes ago, owl4ever1867 said: And those at 1867 think Chansiri hasn't got a clue what he's doing..... Said it a few months ago & I'll say it again.... Give me DC over the owners at the likes of Reading & Sheffield United. Said it for a while, Chansiri can be a loose cannon and needs a fair bit of guidance but as an owner could be million times worse. Quote Link to comment Share on other sites More sharing options...
madowl Posted July 3 Share Posted July 3 4 minutes ago, owl4ever1867 said: And those at 1867 think Chansiri hasn't got a clue what he's doing..... Said it a few months ago & I'll say it again.... Give me DC over the owners at the likes of Reading & Sheffield United. Nobody is saying DC is perfect by any means but "be careful what you wish for" rings very true. 1 Quote Link to comment Share on other sites More sharing options...
80s Owl Posted July 3 Share Posted July 3 1 hour ago, mkowl said: It sounds like they have re-financed / extended the arrangements with Macquarrie. Presumably on the basis of re-commencing parachute payments At some point it will hopefully go tit's up Finance isn't my thing (you should see my bank account) but didn't they already have loans with Macquarrie up to 2026?? Quote Link to comment Share on other sites More sharing options...
mogbad Posted July 3 Share Posted July 3 8 minutes ago, 80s Owl said: Finance isn't my thing (you should see my bank account) but didn't they already have loans with Macquarrie up to 2026?? A discussion on X seems to suggest that existing charges/loans were satisfied today. It may be that the new loans are just the old loans rolled over. Like you finance isn't my thing either so I might be wide of the mark. Quote Link to comment Share on other sites More sharing options...
80s Owl Posted July 3 Share Posted July 3 2 minutes ago, mogbad said: A discussion on X seems to suggest that existing charges/loans were satisfied today. It may be that the new loans are just the old loans rolled over. Like you finance isn't my thing either so I might be wide of the mark. Thats me, you and Prince Abdullah by the sounds of it 🤣 1 Quote Link to comment Share on other sites More sharing options...
Otto_Man Posted July 3 Share Posted July 3 But how do you think the existing loans were satisfied? (Spoiler alert - It was by borrowing more money) I'm not sure you're thinking this through lads. Pigs went up to the prem last season, netting them all the riches that come with that. They also sold their 2 best players for a reported £35m and pretty much spent fuck all. Fast forward to now and seemingly they have an outstanding loan they can't afford to pay, only they've got to as they've already had points taken for not paying things so the bank step in again and offer them another loan to pay off the first one. Then the penny drops, they have literally no players, so they then have to borrow a bit more. Quote Link to comment Share on other sites More sharing options...
lobster Posted July 4 Share Posted July 4 2 hours ago, Otto_Man said: Pig mate reckons the takeover is off as the EFL won't ratify it, no idea if it's true or not, but he reckons it'll be announced in the next couple of days. Maguire reckons the loan is against the next two seasons parachute payments, dunno if they've got some instalments due and don't want to risk more point deductions?! Also heard the same from a couple of sources Quote Link to comment Share on other sites More sharing options...
Reesh Posted July 4 Share Posted July 4 9 hours ago, Tewksbury said: Well I am shocked....oh wait, no. The Prince is funding the club on loans and the sand beneath the foundations is eroding quickly They are desperate for a cash injection or they are fucked. Quote Link to comment Share on other sites More sharing options...
mkowl Posted July 4 Share Posted July 4 5 hours ago, Otto_Man said: But how do you think the existing loans were satisfied? (Spoiler alert - It was by borrowing more money) I'm not sure you're thinking this through lads. Pigs went up to the prem last season, netting them all the riches that come with that. They also sold their 2 best players for a reported £35m and pretty much spent fuck all. Fast forward to now and seemingly they have an outstanding loan they can't afford to pay, only they've got to as they've already had points taken for not paying things so the bank step in again and offer them another loan to pay off the first one. Then the penny drops, they have literally no players, so they then have to borrow a bit more. To the non finance guys it's basically taking out a new credit card with a higher limit and then paying off the balances on the old cards. We know Wednesday have a rolling credit facility of about £7m. The existing charges are not shown as satisfied leading to some suggesting these are new loans each time. The accounts suggest that is certainly not the case, but leaves the door of uncertainty open. All United are doing is taking loans today to fund operations, secured against future minimum guaranteed parachute payments. Their issue is very simple if they don't get promoted these loans will fall due, the parachute payments are allocated to clear them and there is no support left for future day to day requirements. Quote Link to comment Share on other sites More sharing options...
mkowl Posted July 4 Share Posted July 4 3 minutes ago, Reesh said: Well I am shocked....oh wait, no. The Prince is funding the club on loans and the sand beneath the foundations is eroding quickly They are desperate for a cash injection or they are fucked. Haven't checked but presumably the new loan is for more than the ones being paid off, so a cash injection of sorts But it makes it less attractive to potential investors if there is an even larger debt to take on or clear. Quote Link to comment Share on other sites More sharing options...
Reesh Posted July 4 Share Posted July 4 1 hour ago, mkowl said: Haven't checked but presumably the new loan is for more than the ones being paid off, so a cash injection of sorts But it makes it less attractive to potential investors if there is an even larger debt to take on or clear. Doesn't show any figures but they took out charges in January and May, the January ones are satisfied but they still have a separate one from Close Leasing in January 2023 to clear. Quote Link to comment Share on other sites More sharing options...
Otto_Man Posted July 4 Share Posted July 4 3 hours ago, mkowl said: Haven't checked but presumably the new loan is for more than the ones being paid off, so a cash injection of sorts But it makes it less attractive to potential investors if there is an even larger debt to take on or clear. I'm trying to remove my blue and white specs and not immediately presume this is as bad as it looks, but I'm struggling. I re-read Maguire's comments and he's suggesting that the pigs have borrowed against the 24/25 and 25/26 parachute payments and also against some of the clubs assets (which I'm presuming to be the ground and/or training ground?). From the outside looking in, they've lost a good few players and now with possibly losing new investors, I'm wondering if Poundland is thinking 'fuck it I know what to do we'll get promoted again' and they're going to go for it and sign a load of players. Problem is, clubs are going to be reluctant to agree to payment plans as they now have a reputation of not paying so he needs cash up front?! Like I say, blue and white specs, but it sounds like he's borrowed a lot of money... Quote Link to comment Share on other sites More sharing options...
bradowl Posted July 4 Share Posted July 4 12 hours ago, Otto_Man said: Pig mate reckons the takeover is off as the EFL won't ratify it, no idea if it's true or not, but he reckons it'll be announced in the next couple of days. Maguire reckons the loan is against the next two seasons parachute payments, dunno if they've got some instalments due and don't want to risk more point deductions?! I've heard same, it's a large consortium trying to buy so proof of funds might be more difficult to prove than one owner coming in. Also heard Wilder is very unhappy with it all and players aren't happy with him either. Not that there's that many players to start with. Don't be surprised if Wilders gone before a ball's been kicked. Quote Link to comment Share on other sites More sharing options...
madowl Posted July 4 Share Posted July 4 They've just signed Jamie Shackleton so someone must be authorising some spend. Don't know if he's any good mind. Quote Link to comment Share on other sites More sharing options...
Reesh Posted July 4 Share Posted July 4 11 minutes ago, madowl said: They've just signed Jamie Shackleton so someone must be authorising some spend. Don't know if he's any good mind. On a free... 1 Quote Link to comment Share on other sites More sharing options...
madowl Posted July 4 Share Posted July 4 Yes I get that but the Agent and Player will end up with more due to it being a free. Quote Link to comment Share on other sites More sharing options...
EastCraigsOwl Posted July 4 Share Posted July 4 6 hours ago, bradowl said: Also heard Wilder is very unhappy with it all and players aren't happy with him either. Not that there's that many players to start with. Don't be surprised if Wilders gone before a ball's been kicked. Why would The Boaring One leave when he's supposed to love the club? If I was Wednesday boss, there's no way I would leave, even if I wasn't getting paid. I would keep doing my 'dream job' to the best of my abilities, come hell or high water. Quote Link to comment Share on other sites More sharing options...
Tylluan Posted July 4 Share Posted July 4 33 minutes ago, EastCraigsOwl said: Why would The Boaring One leave when he's supposed to love the club? If I was Wednesday boss, there's no way I would leave, even if I wasn't getting paid. I would keep doing my 'dream job' to the best of my abilities, come hell or high water. Until you got sacked and picked up the compo. Which is what Wildpig will do. 1 Quote Link to comment Share on other sites More sharing options...
Tylluan Posted July 4 Share Posted July 4 5 hours ago, madowl said: They've just signed Jamie Shackleton so someone must be authorising some spend. Don't know if he's any good mind. Put it this way. You don't get promoted by bringing Jamie Shackleton in. Quote Link to comment Share on other sites More sharing options...
HappyOwl Posted July 4 Share Posted July 4 🤣🤣🤣 the takeover was off two weeks ago Poundland Prince asked for money upfront and they weren’t willing to put in so they fell out. They darent announce it due to season ticket sales etc which they are struggling with as the money isn’t coming through. Loans taken out to pay other loans that will be paid by parachute payments meaning they don’t actually have any money. Wilder is mad because he can’t sign who he wants and he’s going to have egg on his face when they are shite so he’s threatening to walk. Theres a summary of everything I’ve heard today no matter what is true and what isn’t the meltdown is great to see 🙌🙌🙌🙌 4 Quote Link to comment Share on other sites More sharing options...
Skamp Posted July 4 Share Posted July 4 I've often wondered if I'd like them to go bust and cease to exist but my concern was always been that their piglets would come to Hillsborough. I've since slept on this a bit, and I don't want clubs going back 100 years going bust either, not even them, not when we've the likes of MK Dons. In conclusion, I'd like them to go to the 4th Division, (or the league 2 as it now is - again) and stay there forever. Then we can be a bit like a Forest fan must feel about County, gently acknowledge their existence but think 'fuck off you pathetic little twats' at the same time. Older, Bigger, Better 😎 2 Quote Link to comment Share on other sites More sharing options...
TheExile Posted July 4 Share Posted July 4 Is it really off? The lack of any communication from the club to their fans and no images or interviews with wilder on the plan for the future isn’t a great sign. Not sure why they’d need to borrow so much at top rate interest if it was just to bridge the gap between new and old leadership especially given the slashing of costs. No kit out and no pre season. Quote Link to comment Share on other sites More sharing options...
HoylandOwl Posted July 4 Share Posted July 4 3 minutes ago, TheExile said: Is it really off? The lack of any communication from the club to their fans and no images or interviews with wilder on the plan for the future isn’t a great sign. Not sure why they’d need to borrow so much at top rate interest if it was just to bridge the gap between new and old leadership especially given the slashing of costs. No kit out and no pre season. Was there anything from them that it WAS on in the first place? Quote Link to comment Share on other sites More sharing options...
Tylluan Posted July 4 Share Posted July 4 6 minutes ago, TheExile said: No kit out and no pre season. They might have a problem with the kit. They haven't fully paid Errea for last season yet. For their pre season they're all away games, at York, Chessie, Harrogate and the mini pigs Quote Link to comment Share on other sites More sharing options...
TheExile Posted July 4 Share Posted July 4 8 minutes ago, Tylluan said: They might have a problem with the kit. They haven't fully paid Errea for last season yet. For their pre season they're all away games, at York, Chessie, Harrogate and the mini pigs Interesting. All very strange with or without a new owner coming in Quote Link to comment Share on other sites More sharing options...
TheExile Posted July 4 Share Posted July 4 (edited) 17 minutes ago, HoylandOwl said: Was there anything from them that it WAS on in the first place? There rarely is. But I think the media would have poured cold water or been told to if there’s nothing in it as it’s not helped them if nothing materialises Edited July 4 by TheExile Quote Link to comment Share on other sites More sharing options...
HoylandOwl Posted July 4 Share Posted July 4 5 minutes ago, TheExile said: There rarely is. But I think the media would have poured cold water or been told to if there’s nothing in it as it’s not helped them if nothing materialises Clubs don't always respond though either way though. They let the media fires burn, because then they don't HAVE to continue the conversations. Quote Link to comment Share on other sites More sharing options...
Skamp Posted July 4 Share Posted July 4 35 minutes ago, TheExile said: No kit out and no pre season. Let's be right, we've not excelled at getting a kit out on time in the recent past. Quote Link to comment Share on other sites More sharing options...
TheExile Posted July 4 Share Posted July 4 20 minutes ago, Skamp said: Let's be right, we've not excelled at getting a kit out on time in the recent past. True but it’s all about context Quote Link to comment Share on other sites More sharing options...
Andyben Posted July 4 Share Posted July 4 1 minute ago, TheExile said: True but it’s all about click bait in the Stir Quote Link to comment Share on other sites More sharing options...
TheExile Posted July 4 Share Posted July 4 29 minutes ago, HoylandOwl said: Clubs don't always respond though either way though. They let the media fires burn, because then they don't HAVE to continue the conversations. That’s fair enough but if it was Wednesday I think we’d want to know what’s going on and we’ve been subject to things in the past whether it’s Mammadov, Sheard, Club 9 or whoever and if there was nothing to it there were ways of getting the message out there. United aren’t even continuing as normal as there’s not even any of the usual PR over the summer Quote Link to comment Share on other sites More sharing options...
Tank_Owl2,0 Posted July 4 Share Posted July 4 13 hours ago, mkowl said: Haven't checked but presumably the new loan is for more than the ones being paid off, so a cash injection of sorts But it makes it less attractive to potential investors if there is an even larger debt to take on or clear. And you would think that makes the price of any takeover/ buyout lower ie because it comes with more liabilities. So in a mad roundabout way might make the transaction more likely if the Prince is getting desperate to get shut. Quote Link to comment Share on other sites More sharing options...
Reesh Posted July 4 Share Posted July 4 1 minute ago, Tank_Owl2,0 said: And you would think that makes the price of any takeover/ buyout lower ie because it comes with more liabilities. So in a mad roundabout way might make the transaction more likely if the Prince is getting desperate to get shut. He's wanting to keep some shareholding Quote Link to comment Share on other sites More sharing options...
Tank_Owl2,0 Posted July 4 Share Posted July 4 4 minutes ago, Reesh said: He's wanting to keep some shareholding Interesting didn’t know that. They definitely are screwed then Quote Link to comment Share on other sites More sharing options...
Billysboy Posted July 4 Share Posted July 4 3 hours ago, TheExile said: That’s fair enough but if it was Wednesday I think we’d want to know what’s going on and we’ve been subject to things in the past whether it’s Mammadov, Sheard, Club 9 or whoever and if there was nothing to it there were ways of getting the message out there. United aren’t even continuing as normal as there’s not even any of the usual PR over the summer Don't think theres any doubt we would know more, Statton, Miller, Crann etc would be drip feeding negativity like a knackered tap. Never forget that **** Giddings anouncing we were in a transfer embargo couple of hours before 1st game of season a few years ago. Quote Link to comment Share on other sites More sharing options...
TheExile Posted July 5 Share Posted July 5 9 hours ago, Billysboy said: Don't think theres any doubt we would know more, Statton, Miller, Crann etc would be drip feeding negativity like a knackered tap. Never forget that **** Giddings anouncing we were in a transfer embargo couple of hours before 1st game of season a few years ago. 😂 at least we knew what was going on at least, warts and all. Quote Link to comment Share on other sites More sharing options...
Billysboy Posted July 5 Share Posted July 5 29 minutes ago, TheExile said: 😂 at least we knew what was going on at least, warts and all. Always the warts with them twats🤣 Quote Link to comment Share on other sites More sharing options...
TheExile Posted July 5 Share Posted July 5 Sounds like the delay is encouraging Preston to go in for Burrows now Quote Link to comment Share on other sites More sharing options...
Andyben Posted July 5 Share Posted July 5 12 minutes ago, TheExile said: Sounds like the delay is encouraging Preston to go in for Burrows now Harrison? Do we need another left back Quote Link to comment Share on other sites More sharing options...
TheExile Posted July 5 Share Posted July 5 25 minutes ago, Andyben said: Harrison? Do we need another left back That’s the one, was supposed to be a top target for United. We wouldn’t need him and I don’t think we would be in for him but he’d be a good replacement for Johnson 1 Quote Link to comment Share on other sites More sharing options...
HoylandOwl Posted July 5 Share Posted July 5 Seen some 'fan site' type thing tweeting that the takeover is back ON..... Hmmmm Quote Link to comment Share on other sites More sharing options...
mogbad Posted July 5 Share Posted July 5 Star suggesting "in its final stages next week". Quote Link to comment Share on other sites More sharing options...
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