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Breaking News Latest news on the sale of the club.

Very disappointing but deep down I think many of us had a feeling there would be a sting in the tail but saying that if the deal is actually close to getting closed then I would imagine any potential proceedings could be set aside until completion with a specific date in place.

Can’t really blame the creditor for wanting its money but it does seem a bit odd it happening so close too completion.

Obviously, the 🐀 financial partners play a big part in this and if the council want houses and they want flats then that could be a problem if their profits are significantly reduced. TBH I don’t know to much about it but it’s sad to be having this discussions again.
 
All three parties have pretty much said the same thing, the council are still finishing there due diligence so we need to wait for that to be completed. If the council were waiting for any information I'm sure they would be the first to blame someone else and at the moment they aren't.

As for the creditor, for all we know they might have agreed to hold off until a certain date and like most of us have had enough of it being 'another few weeks'. The big concern is if other decide to join in.
 
Can someone explain, in a nutshell, what Ron (and his partners) will be left with ? If it's housing on the FF site, how did anyone expect the council to approve that without it going to a full development proposal (or has it already ?). Is it me ?
 
Can someone explain, in a nutshell, what Ron (and his partners) will be left with ? If it's housing on the FF site, how did anyone expect the council to approve that without it going to a full development proposal (or has it already ?). Is it me ?
It's you.

The council are currently agreeing a leasing deal to change the existing deal to lease properties at RH and FF to just FF - but the rat is also wanting other changes, e.g., longer leases. This is what needs to be agreed for the sale of club to go through (plus the (new info regarding) consent of the financing partner)

Planning permission is separate and allegedly the sale of club is not dependent on it
 
It's you.

The council are currently agreeing a leasing deal to change the existing deal to lease properties at RH and FF to just FF - but the rat is also wanting other changes, e.g., longer leases. This is what needs to be agreed for the sale of club to go through (plus the (new info regarding) consent of the financing partner)

Planning permission is separate and allegedly the sale of club is not dependent on it
Thanks for that. So, it looks like the delay is Ron's end then ! If it's not, he should explain (not just deflect onto the creditor)
 
Thanks for that. So, it looks like the delay is Ron's end then ! If it's not, he should explain (not just deflect onto the creditor)
As with most things, it's probably not 1 thing at fault but a multitude. The council appeared slow to commence the DD, but the changes Ron wants are likely to be adding to the timescale rather than detracting.
 
Lucid as ever from King Rat

View attachment 31604
At no point in the above did Ron say he would pay the bill.. I guess his aim is for all of these patient creditors to only be paid once he has legged it.

Such a shame that the Consortium has to find £millions? to pay off all these old debts and not use that money to a) Improve the team or b) Improve Roots Hall.

If that £20m ever comes from Ron after the extra flats are built then i wouldnt be against some of that going back to the consortium to cover all these unpaid debts they have had to pay but that £20m is never coming is it?
 
At no point in the above did Ron say he would pay the bill.. I guess his aim is for all of these patient creditors to only be paid once he has legged it.

Such a shame that the Consortium has to find £millions? to pay off all these old debts and not use that money to a) Improve the team or b) Improve Roots Hall.

If that £20m ever comes from Ron after the extra flats are built then i wouldnt be against some of that going back to the consortium to cover all these unpaid debts they have had to pay but that £20m is never coming is it?
Those debts were already there when they agreed the deal so unless they weren't part of the takeover they were always going to pay them.
 
I thought that but the statement reads formal agreement from financing partners - I'm guessing they've given some informal indication that they are ok
This is an important word (formal) that may accidently get omitted on repetition. Formal approval indicates a final step approving something that already agreed in principle. Formal approval surely could only follow the conclusion of the DD process?
 
This is an important word (formal) that may accidently get omitted on repetition. Formal approval indicates a final step approving something that already agreed in principle. Formal approval surely could only follow the conclusion of the DD process?
That's what I was thinking. Any party financing a deal would be mad to give formal sign off until all due diligence has been completed.
 
It's you.

The council are currently agreeing a leasing deal to change the existing deal to lease properties at RH and FF to just FF - but the rat is also wanting other changes, e.g., longer leases. This is what needs to be agreed for the sale of club to go through (plus the (new info regarding) consent of the financing partner)

Planning permission is separate and allegedly the sale of club is not dependent on it
Where is this actually coming from? The council are saying DD is nearing completion and it will go to cabinet later this month? Nothing about any ongoing negotiations? There's so much fiction, is this idea on Ron seeking changes actually coming from one of the parties? It may be there is no mention of it because such changes are already agreed and reflected so its now a non issue. Be astonished if Ron was holding it up by trying to renegotiate and neither the consortium or the council even mentioned it?
 
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