I agree with Prague on this one. There's no need to offer an off-the-planet sale price if you feel another party is almost at the point of completing the deal, you simply say there is a period of exclusivity, or put them on hold, or whatever. The other party may not complete, in which case the party you have just mugged off with a 70m valuation may seem more appealing. I'm not saying some or all of this happened, just that the whole 70m over-valuation feels bizarre. Is Roland wishing to sell, or simply 'prepared to consider it'? There is obviously a lot we don't know about here, but you get get a lot more for 70m than the likes of Charlton.
Well said Ken. Now I consider myself to have the least amount of business acumen a person can have but common sense would dictate that this £70m bollocks is well... bollocks!
Well I dunno. I'v slept on this £70m "deterrent" thing, and it just doesn't ring right somehow. But...it is Duchatelet, so with that huge caveat, here is what I would I expect based on limited M&A experience involving relatively normal business people like Sir Martin Sorrell
1. If you believe a buyer has reached an advanced stage, and you believe it's a matter of ironing out detail, you offer them a period of exclusivity, which generally would mean you would not process parties with other discussions.
2. That however need not stop you providing basic sale documents, provided you inform the potential buyer that a period of exclusivity has been opened.
3. It's worth noting that the spivs did exactly this with the Vienna based consortium in 2014. By the time they had themselves in order, Duchatelet, who of course did minimal DD, was advanced. Slater told the consortium, sorry you are too late, we are advanced. Normal behaviour, no drama. Slater didn't upset them in saying that, for obvious rational reasons. Indeed they came back in March to see if RD wanted to consider a Peninsula move.
Last night it hadn't occurred to me the identity of a buyer that RD 'didn't like". Now that I've been reminded of Varney, well, OK. Would a really good businessman turn people away on the basis of personal enmity? I don't think so. I think he would only do that if by selling to that seller, that seller might present an increased business/market risk to the buyer's other interests. Otherwise, if you lose your preferred buyer at the last minute, and the unpreferred buyer seems serious, why would you not try to get your hands on that buyer's money?
Doesn't smell right to me.
I’ve slept on it too and agree with this. We were told I believe that there was no period of exclusivity granted to the Australian bid ? That being the case I can’t see any way on earth that (and here we have a problem) a sane businessman turns away prospective buyers for what would now be months if Ricks assertion that Usmanov was told £70 million in order to close down any interest. It just wouldn’t happen.
The reality being that “a willing seller” receives a nibble from a Ukrainian Oligarch with a history of football club involvement and tells him to do one while all the time allowing another bid that has failed over more than 18 months room for manoeuvre.
I’m not sure if what @PragueAddick could smell was old fish puns but whatever it is I can smell it too.
Does anyone even know if talks did actually happen yesterday? I suppose we have to wait for Mr White’s show at 10am for an update.
If I’m not mistaken, Jim White stated that a 1.5 hour conference call between the Australian & American consortium took place.....the outcome is of course not known........as yet. No doubt someone else will confirm this as I’m not 100% sure where I picked up on that info.
It is a takeover promised but it hasn't happened. How many times bitten, how shy do you gotta be?
I get all nostalgic for protests and disruption, things which might now need to develop to a more sophisticated level I suppose.
If Eddie Stobart quoted £70million to somebody we know as supporters that we're unconscious, going to be wrapped in duck tape, and converted into part of a motorway flyover. There is to be no release today or any other day.
Think you are piecing together different potentially interested parties SHG
Yes, I have no info that Usmanov got a sale document with a £70m price tag. And he got it back in late Sept early Oct, I believe. I think the confusion comes because Airman posted his info in a reply to mine, but I didn't understand that he believed this was for Usmanov.
Unfortunately it seems to me that the only reason RD is clinging to the Aussie consortium offer is that there must be something extra in it for him... If he is really turning down other potential purchasers that may be offering the same amount/more/better terms, or scaring others off there must be a good reason (in his mind). I can't even start to guess at what that might be... but hope it doesn't mean that he retains some share holding or interest in the club.
Does anyone even know if talks did actually happen yesterday? I suppose we have to wait for Mr White’s show at 10am for an update.
If I’m not mistaken, Jim White stated that a 1.5 hour conference call between the Australian & American consortium took place.....the outcome is of course not known........as yet. No doubt someone else will confirm this as I’m not 100% sure where I picked up on that info.
That was Monday. I thought they’d continue last night, same time, same conferencing software?
Think you are piecing together different potentially interested parties SHG
My error then. I thought that yesterday @Airman Brown said that it was Usmanov. Apologies but the premise still remains. Duchatelet has turned away interest which as a seller he must take seriously by quoting a £70 million figure. Even disregarding Usmanovs approach it doesn’t add up.
Think you are piecing together different potentially interested parties SHG
My error then. I thought that yesterday @Airman Brown said that it was Usmanov. Apologies but the premise still remains. Duchatelet has turned away interest which as a seller he must take seriously by quoting a £70 million figure. Even disregarding Usmanovs approach it doesn’t add up.
If Eddie Stobart quoted £70million to somebody we know as supporters that we're unconscious, going to be wrapped in duck tape, and converted into part of a motorway flyover. There is to be no release today or any other day.
Well I dunno. I'v slept on this £70m "deterrent" thing, and it just doesn't ring right somehow. But...it is Duchatelet, so with that huge caveat, here is what I would I expect based on limited M&A experience involving relatively normal business people like Sir Martin Sorrell
1. If you believe a buyer has reached an advanced stage, and you believe it's a matter of ironing out detail, you offer them a period of exclusivity, which generally would mean you would not process parties with other discussions.
2. That however need not stop you providing basic sale documents, provided you inform the potential buyer that a period of exclusivity has been opened.
3. It's worth noting that the spivs did exactly this with the Vienna based consortium in 2014. By the time they had themselves in order, Duchatelet, who of course did minimal DD, was advanced. Slater told the consortium, sorry you are too late, we are advanced. Normal behaviour, no drama. Slater didn't upset them in saying that, for obvious rational reasons. Indeed they came back in March to see if RD wanted to consider a Peninsula move.
Last night it hadn't occurred to me the identity of a buyer that RD 'didn't like". Now that I've been reminded of Varney, well, OK. Would a really good businessman turn people away on the basis of personal enmity? I don't think so. I think he would only do that if by selling to that seller, that seller might present an increased business/market risk to the buyer's other interests. Otherwise, if you lose your preferred buyer at the last minute, and the unpreferred buyer seems serious, why would you not try to get your hands on that buyer's money?
Doesn't smell right to me.
I’ve slept on it too and agree with this. We were told I believe that there was no period of exclusivity granted to the Australian bid ? That being the case I can’t see any way on earth that (and here we have a problem) a sane businessman turns away prospective buyers for what would now be months if Ricks assertion that Usmanov was told £70 million in order to close down any interest. It just wouldn’t happen.
The reality being that “a willing seller” receives a nibble from a Ukrainian Oligarch with a history of football club involvement and tells him to do one while all the time allowing another bid that has failed over more than 18 months room for manoeuvre.
I’m not sure if what @PragueAddick could smell was old fish puns but whatever it is I can smell it too.
I thought Prague said Usmanov's approach was in October? The 70m quoted in December to someone RD 'didn't like' is presumed to be Peter Varney. Or have I got this wrong?
I think I’ll just wait until it’s on the official site 😬
I used to scoff, as I thought the debate was quite entertaining, but it’s gone beyond that for me now. It’s embarrasding if ‘the Aussies can’t raise the funds to buy the club, let alone run a 5 year campaign’.
The bottom line for me is that I don’t know if that’s true or not. It looks like it on the surface, but I think I’ll wait and see what happens IF GM’s lot buy the club.
Others are saying it’s different Aussies now. Is it? Again, it might be, but I think I’ll wait and see.
It’s awful to see all the arguments, and people getting entrenched into positions, when much of it is based on speculation and snippets of truth that may or may not come from ‘insiders’. There’s clearly something happening, and it’s good that Airman and co keep us informed when they hear things.
But for now I’m think of signing up for the WIOTOS mob.
I think I’ll just wait until it’s on the official site 😬
I used to scoff, as I thought the debate was quite entertaining, but it’s gone beyond that for me now. It’s embarrasding if ‘the Aussies can’t raise the funds to buy the club, let alone run a 5 year campaign’.
The bottom line for me is that I don’t know if that’s true or not. It looks like it on the surface, but I think I’ll wait and see what happens IF GM’s lot buy the club.
Others are saying it’s different Aussies now. Is it? Again, it might be, but I think I’ll wait and see.
It’s awful to see all the arguments, and people getting entrenched into positions, when much of it is based on speculation and snippets of truth that may or may not come from ‘insiders’. There’s clearly something happening, and it’s good that Airman and co keep us informed when they hear things.
But for now I’m think of signing up for the WIOTOS mob.
I think I’ll just wait until it’s on the official site 😬
I used to scoff, as I thought the debate was quite entertaining, but it’s gone beyond that for me now. It’s embarrasding if ‘the Aussies can’t raise the funds to buy the club, let alone run a 5 year campaign’.
The bottom line for me is that I don’t know if that’s true or not. It looks like it on the surface, but I think I’ll wait and see what happens IF GM’s lot buy the club.
Others are saying it’s different Aussies now. Is it? Again, it might be, but I think I’ll wait and see.
It’s awful to see all the arguments, and people getting entrenched into positions, when much of it is based on speculation and snippets of truth that may or may not come from ‘insiders’. There’s clearly something happening, and it’s good that Airman and co keep us informed when they hear things.
But for now I’m think of signing up for the WIOTOS mob.
We'll consider your application to join #teamWIOTOS but we don't let any old riff raff in.
I cannot forecast to you the action of Roland Duchatelet. It is a riddle, wrapped in a mystery, inside an enigma; but perhaps there is a key. That key is Roland Duchatelet's interests. One day the key unlocks to the right, one day to the left. A magic key, which one day will fit, turn the correct way, the door will be pushed open and end the bolLOCKS of the last five years.
We all live happily ever after and go back to disagreeing about the merits of our new left back Vinny Vixen.
Comments
But then again. "I am NOT listening!"
The experiment is working.
Roland don't go!
What?
The reality being that “a willing seller” receives a nibble from a Ukrainian Oligarch with a history of football club involvement and tells him to do one while all the time allowing another bid that has failed over more than 18 months room for manoeuvre.
I’m not sure if what @PragueAddick could smell was old fish puns but whatever it is I can smell it too.
No doubt someone else will confirm this as I’m not 100% sure where I picked up on that info.
How many times bitten, how shy do you gotta be?
I get all nostalgic for protests and disruption, things which might now need to develop to a more sophisticated level I suppose.
If Eddie Stobart quoted £70million to somebody we know as supporters that we're unconscious, going to be wrapped in duck tape, and converted into part of a motorway flyover. There is to be no release today or any other day.
The bottom line for me is that I don’t know if that’s true or not. It looks like it on the surface, but I think I’ll wait and see what happens IF GM’s lot buy the club.
Others are saying it’s different Aussies now. Is it? Again, it might be, but I think I’ll wait and see.
It’s awful to see all the arguments, and people getting entrenched into positions, when much of it is based on speculation and snippets of truth that may or may not come from ‘insiders’.
There’s clearly something happening, and it’s good that Airman and co keep us informed when they hear things.
But for now I’m think of signing up for the WIOTOS mob.
Welcome back by the way.
: -)
A magic key, which one day will fit, turn the correct way, the door will be pushed open and end the bolLOCKS of the last five years.
We all live happily ever after and go back to disagreeing about the merits of our new left back Vinny Vixen.