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Burnley - was a Farnell & El Kashashy story, now a leveraged US takeover.

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  • stockportaddick
    stockportaddick Posts: 1,135
    Had a read through that thread on the Burnley forum, that Grumps is one annoying fella. 
  • Leroy Ambrose
    Leroy Ambrose Posts: 14,436
    Let me guess. He's an 'itk' muppet, who constantly posts that he has inside information about the bid but he can't share it? 
  • Richard J
    Richard J Posts: 8,032
    This also explains why Jim White loves Farnell. Clearly CF is playing him. 

    He gives him more stories as he gets more involved with different clubs. The way White responded when Jordan challenged him yesterday and Thomas probed him today was hilarious. 
  • cazo
    cazo Posts: 1,483
    Let them get on with it all we can do is warn them🐀🐀
  • AddickUpNorth
    AddickUpNorth Posts: 8,325
    Leroy Ambrose said:
    Let me guess. He's an 'itk' muppet, who constantly posts that he has inside information about the bid but he can't share it? 

    People like that don’t really exist surely.
  • killerandflash
    killerandflash Posts: 69,850
    cazo said:
    Let them get on with it all we can do is warn them🐀🐀
    But it's ultimately nothing to do with the fans, as however they feel they, it will have little effect on the sale process. In the same way that we weren't involved in the decision to sell the club to the Spivs, for them to sell it to Roland, for Roland to sell it to ESI and ESI to try and sell it to Elliott.
  • eastterrace6168
    eastterrace6168 Posts: 22,527
    killerandflash said:
    cazo said:
    Let them get on with it all we can do is warn them🐀🐀
    But it's ultimately nothing to do with the fans, as however they feel they, it will have little effect on the sale process. In the same way that we weren't involved in the decision to sell the club to the Spivs, for them to sell it to Roland, for Roland to sell it to ESI and ESI to try and sell it to Elliott.
    Agree, the fans make little significant impact on who the owner sell to, but, if they do wake up in the near future to the reality of Farnell etc, they can at least voice opinion, and make it as uncomfortable as possible for both the seller and potential new owners, can't they
  • ElfsborgAddick
    ElfsborgAddick Posts: 29,045
    killerandflash said:
    cazo said:
    Let them get on with it all we can do is warn them🐀🐀
    But it's ultimately nothing to do with the fans, as however they feel they, it will have little effect on the sale process. In the same way that we weren't involved in the decision to sell the club to the Spivs, for them to sell it to Roland, for Roland to sell it to ESI and ESI to try and sell it to Elliott.
    Exactly.
    The Oystons did not sell because of the fans, it was due to a dispute with a director/chairman going to court and the Oystons losing. 
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  • LenGlover
    LenGlover Posts: 31,651
    J BLOCK said:
    Burnley Express sports editor:

    Chris Boden @bodenknights
    Just had an update in terms of the takeover - led to believe deal is in documentation now, i.e. takeover bid from ALK has been sent to chairman and shareholders detailing offer
    4:34 PM · Nov 20, 2020·Twitter for iPhone

    Chris Boden @bodenknights
    Now, Farnell/El Kashashy group also confident, told they are still waiting on owners and directors’ test, maybe last week of November, first week of December
    https://www.efl.com/-more/governance/efl-rules--regulations/appendix-3---owners-and-directors-test/

    1.1 (c) (ii) must surely come into play?
  • Off_it
    Off_it Posts: 28,850
    Hmmmm ......... "still waiting on owners and directors’ test". Now where have I heard that before?
  • MattF
    MattF Posts: 3,797
    There's probably a lot more boxes to tick on the Premier League's application form, so it probably takes quite a while to tick the right ones
  • aliwibble
    aliwibble Posts: 26,291
    You need to be looking at the Prem ones Len. I think they're pretty similar, but there may be some subtle differences that we need to be aware of.
  • LenGlover
    LenGlover Posts: 31,651
    aliwibble said:
    You need to be looking at the Prem ones Len. I think they're pretty similar, but there may be some subtle differences that we need to be aware of.
    Good point well made!
  • LenGlover
    LenGlover Posts: 31,651
    edited November 2020
    aliwibble said:
    You need to be looking at the Prem ones Len. I think they're pretty similar, but there may be some subtle differences that we need to be aware of.
    https://www.premierleague.com/news/102375

    Probably similar. I tried to look but was taking sometime to download.

    EDIT: https://resources.premierleague.com/premierleague/document/2020/10/02/207ba212-d4d8-4c1c-bc0b-7d3cf6c8eedb/2020-21-PL-Handbook-021020.pdf

    Page 130 (or 69/371) F.1.12

    We need to know how the SRA are doing with the investigations. I wonder if  the Premier league have been made aware of them?
  • cafc999
    cafc999 Posts: 4,967
    They will fail the test or make a "mistake" on the application form in the hope the other group get the deal done before them then claim "We tried everything we could" excuse again. 
  • Chris_from_Sidcup
    Chris_from_Sidcup Posts: 36,015
    cafc999 said:
    They will fail the test or make a "mistake" on the application form in the hope the other group get the deal done before them then claim "We tried everything we could" excuse again. 
    And if they don't fail the OADT then surely they'll fail when it comes to proof/source of funds.

    No way do Farnell and EK have 200m, and if they're the front men for other 'secret' investors then surely the premier league will want to know who.
  • cafc999
    cafc999 Posts: 4,967
    They have no real interest or intent to buy Burnley, this is part of there next football club takeover. They just want this on their CV. 
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  • thickandthin63
    thickandthin63 Posts: 2,955
    If the premier league allow this,then I absolutely give up.
  • Chris_from_Sidcup
    Chris_from_Sidcup Posts: 36,015
    cafc999 said:
    They have no real interest or intent to buy Burnley, this is part of there next football club takeover. They just want this on their CV. 
    They'll have the opportunity i'm sure to buy any number of league one/two clubs over the next year as the fall out from Covid goes on.

    Surprised actually that they've not looked to buy Sunderland, a big club going relatively cheaply as the owner is desperate to get rid.
  • Addickted
    Addickted Posts: 19,456
    thickandthin63 said:
    If the premier league allow this,then I absolutely give up.
    Some subtle hints on Up The Clarets that they haven't and the other bid has now become favourites to takeover

    I suspect it's just a box that wasn't ticked.
  • MarcusH26
    MarcusH26 Posts: 8,035
    edited November 2020
    Chris_from_Sidcup said:
    cafc999 said:
    They have no real interest or intent to buy Burnley, this is part of there next football club takeover. They just want this on their CV. 
    They'll have the opportunity i'm sure to buy any number of league one/two clubs over the next year as the fall out from Covid goes on.

    Surprised actually that they've not looked to buy Sunderland, a big club going relatively cheaply as the owner is desperate to get rid.
    I believe Stewart Donald has struck a deal for Sunderland finally , French investor who's family formerly owned Marseille. 

    https://www.theguardian.com/football/2020/nov/13/sunderland-agree-takeover-deal-with-22-year-old-louis-dreyfus-heir
  • Addickted
    Addickted Posts: 19,456
    ALK Capital are moving closer to finalising a deal to buy Burnley amid optimism that a takeover by the American sports investment company could be concluded before Christmas.

    Alan Pace, a former president of Major League Soccer franchise Real Salt Lake who heads up ALK, has been in daily dialogue with Burnley chairman Mike Garlick. Talks are now at an advanced after months of negotiations and an extensive due diligence process.

    Egyptian entrepreneur Mohamed Sayed Zein Elkashashy and Chris Farnell, a Cheshire-based sports lawyer, have also been vying for ownership of Burnley. However, ALK appear to be in pole position to acquire Garlick’s majority 49.24 per cent shareholding and John Banaszkiewicz’s 28.2 per cent stake in the Premier League club.
  • eastterrace6168
    eastterrace6168 Posts: 22,527
    Addickted said:
    thickandthin63 said:
    "A minor administrative error" ;)
  • eastterrace6168
    eastterrace6168 Posts: 22,527
    Addickted said:
    thickandthin63 said:
    If the premier league allow this,then I absolutely give up.
    Some subtle hints on Up The Clarets that they haven't and the other bid has now become favourites to takeover

    I suspect it's just a box that wasn't ticked.
    "A minor administrative error" ;)
  • SporadicAddick
    SporadicAddick Posts: 6,857
    Addickted said:
    ALK Capital are moving closer to finalising a deal to buy Burnley amid optimism that a takeover by the American sports investment company could be concluded before Christmas.

    Alan Pace, a former president of Major League Soccer franchise Real Salt Lake who heads up ALK, has been in daily dialogue with Burnley chairman Mike Garlick. Talks are now at an advanced after months of negotiations and an extensive due diligence process.

    Egyptian entrepreneur Mohamed Sayed Zein Elkashashy and Chris Farnell, a Cheshire-based sports lawyer, have also been vying for ownership of Burnley. However, ALK appear to be in pole position to acquire Garlick’s majority 49.24 per cent shareholding and John Banaszkiewicz’s 28.2 per cent stake in the Premier League club.
    When I was at school in the 80's I used to buy boxes of 50 Bic Biros for £2.50 and then sell them for 10p each. Can I buy a football club?
  • Addickted
    Addickted Posts: 19,456
    SporadicAddick said:
    Addickted said:
    ALK Capital are moving closer to finalising a deal to buy Burnley amid optimism that a takeover by the American sports investment company could be concluded before Christmas.

    Alan Pace, a former president of Major League Soccer franchise Real Salt Lake who heads up ALK, has been in daily dialogue with Burnley chairman Mike Garlick. Talks are now at an advanced after months of negotiations and an extensive due diligence process.

    Egyptian entrepreneur Mohamed Sayed Zein Elkashashy and Chris Farnell, a Cheshire-based sports lawyer, have also been vying for ownership of Burnley. However, ALK appear to be in pole position to acquire Garlick’s majority 49.24 per cent shareholding and John Banaszkiewicz’s 28.2 per cent stake in the Premier League club.
    When I was at school in the 80's I used to buy boxes of 50 Bic Biros for £2.50 and then sell them for 10p each. Can I buy a football club?
    Have you got any left?

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