londonblue
Topgun Pilot
I'm not ITK. I've just spoken to a lawyer (my brother) about how DD works. Basically, you only move on to DD when the price has been agreed.You heard anything to suggest they might pull out
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I'm not ITK. I've just spoken to a lawyer (my brother) about how DD works. Basically, you only move on to DD when the price has been agreed.You heard anything to suggest they might pull out
Oh I seeI'm not ITK. I've just spoken to a lawyer (by brother) about how DD works.
And that’s why it could be a serious stumbling block, it’s happened for other football club sales but generally they have been fairly transparent arrangements, (or in administration already which somewhat reduces liability exposure) so I wouldn’t have a clue how it would be done other than at a very high level but (given previous winding up orders, late accounts, non-payment of wages etc it would be an extortionate premium though) it’s normally a % of values involved so could end up being a big chunk (especially in more distressed sales)I wouldn’t want to be the insurance company indemnifying anyone doing business with Ron. How the hell could they possibly put a sensible premium price on that? Not that I have any love - at all - for the insurance industry.
I'm not ITK. I've just spoken to a lawyer (by brother) about how DD works. Basically, you only move on to DD when the price has been agreed.
The more I see of these response emails from Ron, it's clear he is deflecting to shift blame on to Kimura. Classic narcissism,
****. This guy is beyond the pale.Statement of the obvious, but for the sale to proceed with Kimura, it needs to be concluded this week in my humble opinion. The value of the "asset" is only going in one direction, so I wouldn't expect any sane buyer to hang around for too long without restructuring the terms to reflect the erosion of worth. Ron will see this not only as a monumental personal defeat but also as a perfect vehicle to deflect blame and weep that the goalposts were moved at the last second while he was in the process of saving the club.
Unlike Ron, Kimura have structured processes that need the be followed, with formal risk procedures that will need to be satisfied. Any gaps will require indemnities to protect them should anything unforeseen occur. If Ron is even vaguely motivated to sell the club, he must make concessions here to allow the deal to conclude. I say "if" he's motivated as the scraps I've heard over the last week or so support other people's assertions that he's trying to ride this out, using the bid interest to try and stimulate some liquidity elsewhere...
Hopefully "they" can do thatAnother email
I'm driving past soon I'll have a nose and see what I can see10.05 am. Guess the players have turned up or not by now ?
other than that, pre season is going alright then?As I understood things from the weekend, there was only enough funds to pay 7 players. Discussions took place about who to pay or whether to give reduced amounts to all on the understanding no one would hand notice in. In the end 7 got paid with some agreeing to defer for two weeks and once all this was open knowledge to all the players, they collectively stood up for each other.
I believe they plan not to train until weds when some more funds may become available to pay hopefully all. (Still leaves the unsatisfactory issue of non playing staff).
However, some have had enough. I know at least 2 have handed in notice , two of our less tall striking players, and I believe lomas has had enough regardless of getting paid and is unlikely to return. Travelling is a key factor I hear.
Additionally, the physio still hasn't been paid either so proper training isn't possible.
Weds and the 12th are key days looming.
In the meantime vulture clubs aren't just circling, they're speaking to players.
I reckon Mark Bentley could still do a job in the middle of the park. Looks fit as a butcher’s dog still…other than that, pre season is going alright then?
It shows how little I know about buying or selling a business but it seems counterintuitive to agree a price before you've done your research and then try to snag all the loose ends after the fact.Wrong. The price has been agreed. The issue is around the warranties included in the contract, which are based on the DD.
could explain why Lomas wasn't at training last week (don't care what Yorkshire Blue says he weren't there).As I understood things from the weekend, there was only enough funds to pay 7 players. Discussions took place about who to pay or whether to give reduced amounts to all on the understanding no one would hand notice in. In the end 7 got paid with some agreeing to defer for two weeks and once all this was open knowledge to all the players, they collectively stood up for each other.
I believe they plan not to train until weds when some more funds may become available to pay hopefully all. (Still leaves the unsatisfactory issue of non playing staff).
However, some have had enough. I know at least 2 have handed in notice , two of our less tall striking players, and I believe lomas has had enough regardless of getting paid and is unlikely to return. Travelling is a key factor I hear.
Additionally, the physio still hasn't been paid either so proper training isn't possible.
Weds and the 12th are key days looming.
In the meantime vulture clubs aren't just circling, they're speaking to players.
MooneyLess tall - Powell and Wreh? Powell - meh. Wreh - could be worth a pay as you play deal (Edit: I get the irony in this statement )