Takeover

[Fido]

I think I'll wait until Prag gets on his lunch break:

There is no way the HoldCo shares can be sold without lender consent.

The security package in place looks to be very tight. 

This suggests to me that the club is in a locked box process.  Eg due diligence done and now we are at contracts stage.

MSD would be mad to lend more on a hope of better times.  This suggests that deal is near.

It’s a totally different legal entity and not in WBA Group.  It’s the shares that are up for sale owned by Lai & Co and that has nothing to do with MSD who they sell them to.

Utter nonsense as per earlier in this thread.  A material ULTIMATE change of beneficial ownership without MSD’s prior consent would be an event of default under their loan.

[wba13]

Rules are rules ask Purslow.

[Fulham Fallout]

I think I'll wait until Prag gets on his lunch break:

There is no way the HoldCo shares can be sold without lender consent.

The security package in place looks to be very tight. 

This suggests to me that the club is in a locked box process.  Eg due diligence done and now we are at contracts stage.

MSD would be mad to lend more on a hope of better times.  This suggests that deal is near.

It’s a totally different legal entity and not in WBA Group.  It’s the shares that are up for sale owned by Lai & Co and that has nothing to do with MSD who they sell them to.

Utter nonsense as per earlier in this thread.  A material ULTIMATE change of beneficial ownership without MSD’s prior consent would be an event of default under their loan.

Crikey.  As someone later stated, no one on here is privy to the terms of the loan agreement. 

Have a read of the EFL rules Fido.  Those we are privy to.

[Kit Kat Chunky]

Genuine question:  Given that none of us know transfer fees, wages paid or (?) turnover... what is the basis for people saying we're fucked under FFP?  Has Car Park Mark said something?

You don’t need to know the finer details.  The MSD loans are to cover operational costs which tells you all you need to know. Our current expenditure exceeds our current income, which equates to losses. The MSD loans will themselves increase our losses due to the interest charges.

---

and generate income from selling players unless we are promoted. Some people on here keep forgetting / don’t understand / don’t want to accept the implications of FFP.

Good job the bored is full of experts who always agree and are never wrong

Difficult to be wrong in relation to rules when they’re publically available.

See Appendix 5 

https://www.efl.com/governance/regulations

It’s not about the rules it’s about how they apply to our situation and that is pure conjecture so I’ll 
wait and see if that’s ok, I heard many an expert opinion of what would happen in the summer that proved to be wide of the mark.

Rules are rules.  Ask Reading and Everton.

I agree with you, FF. The MSD loan is shoring up cashflow, it does not substitute profit in the accounts, or the FFP rules. If we have burned through £20M MSD loan already, that tells me that the loss this financial year will be absolutely huge. 

If Lai is in charge, we need to sell players to reduce the wage bill and stop the losses. If Lai isn't in charge, we still need to stop the losses. The difference is we won't be paying all the interest on the MSD loans (and any others) and the new owner can inject £5M p.a. (I think) to support the business. He can also invest into the infrastructure, which is exempt from FFP. Didn't the Seals invest something like £16M into their "Youth Set-up"?

[Fido]

I'm just leaving all of this to the people who know what's what and aren't second-guessing. Probably the best way for all of us to to go, really.

[Kit Kat Chunky]

I'm just leaving all of this to the people who know what's what and aren't second-guessing. Probably the best way for all of us to to go, really.

I agree there are very few people (and I'm certainly not one of them) who truly know what is going on. The rest of us are making educated guesses.

[wba13]

This impatient sod has no idea what’s going on, but hope it comes to a conclusion soon and not in 3 months like someone suggested yesterday.

[Fido]

I'm just leaving all of this to the people who know what's what and aren't second-guessing. Probably the best way for all of us to to go, really.

I agree there are very few people (and I'm certainly not one of them) who truly know what is going on. The rest of us are making educated guesses.

Or making statements of "utter nonsense" as well, of course.

[1952]

Based on all the above posts something is definitely going on. Something should happen in 2024, it should be good for us and we probably won't go out of business. The common denominator for everyone is we are all excited with anticipation yet nervous the outcome won't be as good as we would want.

[Fulham Fallout]

I'm just leaving all of this to the people who know what's what and aren't second-guessing. Probably the best way for all of us to to go, really.

I agree there are very few people (and I'm certainly not one of them) who truly know what is going on. The rest of us are making educated guesses.

Or making statements of "utter nonsense" as well, of course.

China doesn't work in Finance, but has insider info and understands and accepts the situation we are in, with regards the need to sell players.