Just for those of you who are not ITK and as instrumental in negotiations as I am.
1. An indicative offer has been made/received.
2. Due dilligence is ongoing.
3. err ............ that's it folks!
Pampers on. Sit tight. Keep it real. Watch this space.
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http://www.businesslink.gov.uk/bdotg/action/detail?type=RESOURCES&itemId=1074414003
Errr........ thanks for the update Orf_it.
Murray said "as quickly as possible" and then the Mail added "which could be one week". RM never gave a timeframe and how could he when it takes as long as it takes.
More journo tricks to beef up the story. Expect some "talks drag on" stories next week
Not to mention his underpants!
Someone said that Man City's takeover was completed after 1 September (when they bought Robiniho).
The Due Dillagence wasn't completed until Sept 23 and the take over then officially took place two days later according to this report.
So that is a three week period to complete the DD in that particular case.
http://www.chinapost.com.tw/sports/soccer/2008/09/23/175904/Abu-Dhabi.htm
[quote][cite]Posted By: Off_it[/cite][quote][cite]Posted By: Curb_It[/cite]could you imagine the state of mascot's nerves if it takes that long.[/quote]
Not to mention his underpants![/quote]
cheers guys ; )
Although it wasn't completed until Sept 23, surely they'd already unofficially taken over before then hence they could afford to sign Robinho and were linked with about 4-5 world class players on deadline day?
MCFC will hopefully clarify this.
Supposing the deal goes tits up because GH won't sell ......?
;o)
Curbs' one was ok but I think it would be fascinating to read what went on upstairs at Charlton over the last 15 or so years. Transfers, stadium etc...
I'd buy it anyway. RM is a hero.
Perhaps you could mention it to him when you next see him Henry? (both that he's my hero and that he should write a book!)
I'll tell him when and if I next see him/speak to him.
Would also love to read "My Valley Years" by P Varney.
And other "lost" Charlton books out there? No Cardie jokes please, you did all those yesterday ; - )
'Valley of Kins' by M. Kinsella
'Napper Valley' by J. Fortune
'Rift Valley' by D. Kiely and A. Todd
very good those two !
(the book was allegedly going to be called Senegal Valley but the author got lost when trying to interview Faye and diawara as part of his research)
Good one Bing
From Bromley to the Bernabau . A fan's diary of Charlton's European Cup winning season.
The Charlton boss, 20 trophy strewn years in the Valley hot seat explains his recipe for domestic and European success.
Hmm...Yeah, Thaksin recieved and accepted an offer the 1st of September but they had been talking for a while before that. Money for Robinho (£34m cash!!!) was provided by Sheik Mansour Al-Nahyan
The due diligence process that started was to check that all the numbers and other stuff on the agreed deal where correct (they where £5m wrong actually but that´s just a 2.5% discrepancy and I would love the builder renovating my flat to get that close on their estimates..bstards!
After finding the discrepancy there was a bit of haggling between the parties or rather between their negotiators (Amanda Staveley and Stuart Pearce assisted by law firm Shearman&Sterling)
Then the buyers gave a formal offer that was accepted, and then the league ratified the takeover which also took a few days.
At the time of the official takeover Sheik Mansour sent an open letter to the fans and explained his vision of the club and what directives the new chairman had...and that was it basically.
Right now we are getting a new board and Abu Dhabi have said more than once that the board will work at one end while the football side of things will be managed by hughes and so far that have been true.
LOL!
By Jason Benham
DUBAI, Oct 15 (Reuters) - Dubai’s Zabeel Investments, which last year tried to buy Liverpool, hopes to complete a deal to acquire Charlton Athletic soon, an executive said on Wednesday.
“Charlton has a great heritage and passionate fans and great potential… hopefully, if things go well, we will move with Charlton as soon as we can,” Jbran Rahal, managing director of Zabeel Capital, a unit of the investment firm, told Reuters.
He was speaking on the sidelines of a Dubai conference.
The English Championship (second division) team said last week it had received an indicative cash offer from Zabeel which its board could recommend to shareholders once certain conditions, including due diligence, were met.
“We are going through the due diligence process,” Rahal said, declining to give a value for the deal.
Zabeel was part of a Dubai consortium trying to buy Liverpool and was linked in September with a bid for fellow Premier League club Newcastle United, whose owner Mike Ashley is looking for a buyer under pressure from discontented fans.
Mohammed Ali al-Hashimi, the company’s executive chairman, had told Reuters in September his firm was no longer looking at soccer teams as valuations had risen.
However, speculation has grown that Gulf Arab investors would look to emulate an Abu Dhabi-based group that took over Manchester City on Sept. 1 by buying into British soccer teams.
One group—Dubai Investment Group (DIG), owned by the emirate’s ruler—said last month it was not involved in negotiations to buy Newcastle and had no plans to acquire it.
Newcastle owner Mike Ashley put the club up for sale in September but has since struggled to find a suitable buyer given worsening conditions on the global financial markets.
Edit: you just did!