So we have confirmation (in the press at least) of interest from an American investment banker who is said to be "in detailed talks" that have "progressed to an advanced stage" (DM) and a UK based property developer who have "completed due diligence" (SLP). I wonder how many actual bidders there are and if these snippets are, as has been suggested, being used to apply pressure one or more.
I would point out that the other buyouts (NJ Devils, Philli 76rs) have been completed by a consortium lead by Harris and also David Blitzer (Blackstone) amongst others. Also did you see that Will Smith is part of the past consortiums? Will we become Men in Black?
Having read the article, and for the first time, this one looks very convincing. For whatever reason Josh Harris obviously loves sport, is obviously very wealthy, and it is not hard to imagine him being attracted by the thought of owning a Club with tradition and a fantastic family image. The O2 is also a great spot with good train links (Underground ), and Central London across the Thames. For me it's howdy everybody, have a nice day !
Before we get too excited remember that this reporter, Charles Sale, last mention of Charlton was to say Dave Lockwood might be sacked for not mentioning Palace.
So we have a choice here. Mega rich US buyout or keep BDL? I think we all know the right answer : - )
Before we get too excited remember that this reporter, Charles Sale, last mention of Charlton was to say Dave Lockwood might be sacked for not mentioning Palace.
So we have a choice here. Mega rich US buyout or keep BDL? I think we all know the right answer : - )
Yes but your forgetting that a few people were told of this several days ago , including me and from a good source and were told to keep shtuum.
I see where your coming from with The Mail though. Terrible paper .
Before we get too excited remember that this reporter, Charles Sale, last mention of Charlton was to say Dave Lockwood might be sacked for not mentioning Palace.
So we have a choice here. Mega rich US buyout or keep BDL? I think we all know the right answer : - )
Yes but your forgetting that a few people were told of this several days ago , including me and from a good source and were told to keep shtuum.
I see where your coming from with The Mail though. Terrible paper .
As AFKA said the Harris name was bouncing around tweets and inboxes last week.
I wasn't being totally serious and while I don't like the Mail that doesn't make the story more or less true.
But I'm sure we all agree that we'd rather keep BDL than have a mega rich consortium own the club, wouldn't we? : - )
Before we get too excited remember that this reporter, Charles Sale, last mention of Charlton was to say Dave Lockwood might be sacked for not mentioning Palace.
So we have a choice here. Mega rich US buyout or keep BDL? I think we all know the right answer : - )
Yes but your forgetting that a few people were told of this several days ago , including me and from a good source and were told to keep shtuum.
I see where your coming from with The Mail though. Terrible paper .
As AFKA said the Harris name was bouncing around tweets and inboxes last week.
I wasn't being totally serious and while I don't like the Mail that doesn't make the story more or less true.
But I'm sure we all agree that we'd rather keep BDL than have a mega rich consortium own the club, wouldn't we? : - )
Price mentioned in SLP was 18m plus 7m director loans + 4m bank loan making 29m
Although actually the directors' loans are £8m, of which £1m to RM attracts interest.
It's quite funny that if any one of the dozens of people who have had this name had put it on here they'd have been shot down in flames, yet because it appears in the Mail it is taken as true. Not saying it isn't, just be cautious.
I can tell you the staff and players haven't been paid overnight as usual (last working day of the month), even though the club is contractually obliged to do so.
According to the article when he bought the Sixers they were: "an ugly duckling, perpetually mediocre. The most boring, least star-studded franchise and their home attendance was horrific. They were without a star and with no legitimate chance of winning anything, but were located in a big-time city"
I'm beginning to see why he might be linked with us......
I do think that these American investors who accumulate a series of sports 'franchises' do fundamentally miss the fact that US sport is inherently more attractive as an investment proposition compared to UK/European soccer clubs.
I'd point to the fact that there are fewer of them (particularly so relative to the population), no relegation, various methods to ensure league 'fairness' and competition, the ability to negotiate individual TV deals, and ultimately the ability if all else fails to simply up sticks and move the franchise to a different city.
To get a sense of the scale, just take a look at this: http://www.nba.com/sixers/front-office-directory - I doubt very much if a mid-sized Premiership club would have more than a couple of people in sales/marketing roles by comparison. A 'client experience account manager' for Bartram's anyone?
They may have incentives other than profit of course (ego, enjoyment etc.) but I very much doubt it.
Price mentioned in SLP was 18m plus 7m director loans + 4m bank loan making 29m
Although actually the directors' loans are £8m, of which £1m to RM attracts interest.
It's quite funny that if any one of the dozens of people who have had this name had put it on here they'd have been shot down in flames, yet because it appears in the Mail it is taken as true. Not saying it isn't, just be cautious. I can tell you the staff and players haven't been paid overnight as usual (last working day of the month), even though the club is contractually obliged to do so.
That is poor, very poor and a good reason why we shouldn't rush to slap the current regime on the back for their shrewd management of the Club
According to the article when he bought the Sixers they were: "an ugly duckling, perpetually mediocre. The most boring, least star-studded franchise and their home attendance was horrific. They were without a star and with no legitimate chance of winning anything, but were located in a big-time city"
I'm beginning to see why he might be linked with us......
They were also the only NBA franchise in the country's 5th biggest city with an iconic brand and rich history.
Price mentioned in SLP was 18m plus 7m director loans + 4m bank loan making 29m
Although actually the directors' loans are £8m, of which £1m to RM attracts interest.
It's quite funny that if any one of the dozens of people who have had this name had put it on here they'd have been shot down in flames, yet because it appears in the Mail it is taken as true. Not saying it isn't, just be cautious. I can tell you the staff and players haven't been paid overnight as usual (last working day of the month), even though the club is contractually obliged to do so.
That is poor, very poor and a good reason why we shouldn't rush to slap the current regime on the back for their shrewd management of the Club
very worrying comment from AB and for him to say it he must be very very sure.
I do think that these American investors who accumulate a series of sports 'franchises' do fundamentally miss the fact that US sport is inherently more attractive as an investment proposition compared to UK/European soccer clubs.
I'd point to the fact that there are fewer of them (particularly so relative to the population), no relegation, various methods to ensure league 'fairness' and competition, the ability to negotiate individual TV deals, and ultimately the ability if all else fails to simply up sticks and move the franchise to a different city.
To get a sense of the scale, just take a look at this: http://www.nba.com/sixers/front-office-directory - I doubt very much if a mid-sized Premiership club would have more than a couple of people in sales/marketing roles by comparison. A 'client experience account manager' for Bartram's anyone?
They may have incentives other than profit of course (ego, enjoyment etc.) but I very much doubt it.
Clearly there are huge difference is the US and UK models.
However the US owners such as at Liverpool/Boston Red Sox seem to have made the transition well enough.
We can't expect then to replicate what they are doing in Philly as it is a different market but they will know how to run and improve a "franchise".
Whether we dyed in the wool fans will like all those changes we shall have to see but as the current lot haven't paid the staff or players wages on time (see Airman Brown's post above) we may just have to take that risk.
The staff haven't been paid? Poor folks, this must be the worse time of year for this to have happened. I'm appalled by it TBH. Have they been told when they will get their money?
I can tell you the staff and players haven't been paid overnight as usual (last working day of the month), even though the club is contractually obliged to do so.
Contractually the club has to pay today so there is still time, but they have never failed to pay overnight in the past as far as I know.
I can tell you the staff and players haven't been paid overnight as usual (last working day of the month), even though the club is contractually obliged to do so.
Contractually the club has to pay today so there is still time, but they have never failed to pay overnight in the past as far as I know.
do you know if they had been warned payment was going to be late?
I can tell you the staff and players haven't been paid overnight as usual (last working day of the month), even though the club is contractually obliged to do so.
Contractually the club has to pay today so there is still time, but they have never failed to pay overnight in the past as far as I know.
Clucking Bell! Is this because of the takeover or are the club that broke?
Really Poor form if they don't get paid today, but there is still plenty of time for the money to go in today. Airman, hopefully you can confirm when they do.
I can tell you the staff and players haven't been paid overnight as usual (last working day of the month), even though the club is contractually obliged to do so.
Contractually the club has to pay today so there is still time, but they have never failed to pay overnight in the past as far as I know.
Clucking Bell! Is this because of the takeover or are the club that broke?
It could be either, the owners are being crafty and letting the new boys pay the wages as a takeover is all but done or the pot is empty. Hopefully the former, not only for the club but also all the employees.
Comments
Let me know when I can jump up and down!
Only worrying thing is does this hint at CP not getting a new contract?
very good chunes
I knew that ooaah doing that was dangerous
So we have a choice here. Mega rich US buyout or keep BDL? I think we all know the right answer : - )
I see where your coming from with The Mail though. Terrible paper .
I wasn't being totally serious and while I don't like the Mail that doesn't make the story more or less true.
But I'm sure we all agree that we'd rather keep BDL than have a mega rich consortium own the club, wouldn't we? : - )
It's quite funny that if any one of the dozens of people who have had this name had put it on here they'd have been shot down in flames, yet because it appears in the Mail it is taken as true. Not saying it isn't, just be cautious.
I can tell you the staff and players haven't been paid overnight as usual (last working day of the month), even though the club is contractually obliged to do so.
"an ugly duckling, perpetually mediocre. The most boring, least star-studded franchise and their home attendance was horrific. They were without a star and with no legitimate chance of winning anything, but were located in a big-time city"
I'm beginning to see why he might be linked with us......
I'd point to the fact that there are fewer of them (particularly so relative to the population), no relegation, various methods to ensure league 'fairness' and competition, the ability to negotiate individual TV deals, and ultimately the ability if all else fails to simply up sticks and move the franchise to a different city.
To get a sense of the scale, just take a look at this: http://www.nba.com/sixers/front-office-directory - I doubt very much if a mid-sized Premiership club would have more than a couple of people in sales/marketing roles by comparison. A 'client experience account manager' for Bartram's anyone?
They may have incentives other than profit of course (ego, enjoyment etc.) but I very much doubt it.
However the US owners such as at Liverpool/Boston Red Sox seem to have made the transition well enough.
We can't expect then to replicate what they are doing in Philly as it is a different market but they will know how to run and improve a "franchise".
Whether we dyed in the wool fans will like all those changes we shall have to see but as the current lot haven't paid the staff or players wages on time (see Airman Brown's post above) we may just have to take that risk.
IF IF IF the takeover actually happens.