Sending an email last week saying the deal is expected to be done "early next week", then silence, then another friday evening mail to say it's not happening yet but is progressing "reasonably quickly" with no explanation for the delay is shambolic really isn't it?
Given the debacles at Bury, Bolton, Macclesfield, and these are the ones we know about, my understanding from informed sources is that the EFL now require ‘considerable capital’ be held in escro between the league and any future potential club owners. This is a new policy and possibly not factored into any funding of an initial deal / offer / agreement. I do not know the escro sum required but have been told it is ‘substantial’.
If factually correct the impact of this policy shift may be of significance.
@chairboyscentral I read that line in the statement as being a reference to the additional sponsorship/partner deals we have signed recently.
I would hope they (Feliciana) have sanctioned an increase in budget and that, to me, is a good sign that all parties are anticipating a conclusion to the deal.
Let's hope it is sooner rather than later.
I'm hoping that the apparent delay in completing the deal this week has been due to there being 'other business' that needed to be concluded before tomorrow.
And I don't mean a decision on whether or not I can get a hot pie at half-time.
As much as I'm loving all the positivity at the club, I'm absolutely amazed and incredibly disappointed that Trevor is involved still. Got my tin hat on.
@micra said:
Rob Couhig may be fitter than I was when I had my right hip replaced at the same age (70) and surgical procedures have probably advanced over the last decade, especially perhaps in the States but two weeks to be fully mobile sounds extremely optimistic. (I was very active at that time, playing short tennis, table tennis, golf and ten pin bowling on a regular weekly basis and walking the dog daily but I think it was six weeks before I was allowed to drive and having to lie on your back at night is a pain - in the sense that it’s not the most comfortable position to remain in for six or seven hours.)
Mrs micra has also reminded me that flying carries a significant risk of Deep Vein Thrombosis (DVT). We can only hope that all goes well for Rob and wish him a speedy recovery.
There’s absolutely zero reason why he would need to fly across the Atlantic to complete the deal if the hip opp prevents travel.
Assuming he trusts his advisors, is able to use Skype for business and has a Docusign account.
There’s also a question, that links into another thread, about football taking climate change seriously, if he should take a flight to sign something off when there are very viable alternatives anyway.
Aside from shenanigans over whether Couhig needs to be in the country or not, I'm more concerned about the somewhat cavalier statement that we're spending more than the original spending cap, and confident that the accounts to be declared in future to allow us to get away with it. As far as I know the penalties for a 'slight' overspend (i.e. going less than £100k over the cap) is 1% of the overspend, so the Couhig's may feel this a gamble worth taking. However if it goes over, then the penalties can easily run into 5 figures very quickly.
Rob Couhig would not need to cross the Atlantic to sign as he could either nominate a proxy to sign on his behalf or sign in his home office, then scan and email the signed copies and send the paper originals later. I’ve seen both methods on business contract signings.
More interesting this week is the mention of the Chairboys funders and I think the training ground owners in the negotiations. That means the Couhigs are not just negotiating with the Trust but also with the funders. I’m not sure that was made clear during our vote on the takeover that there was a three way deal here.
My suspicion is that the training ground sale and leaseback contract includes a ‘change of control’ clause which means the terms apply to continued rental to the Trust owned WWFC. But, as the club is about go through a change of control to the Couhigs then the training ground owners could seek new terms for the rental and/or renege on the original deal which included a ‘buy back’ clause. Although I remember the ‘buy back’ price always seemed fairly favorable to the funders I wonder if their prices both from rental and buy back have just gone up...hence more negotiations required.
I always thought the deal to sell and leaseback the training ground was financially poor, reflecting the weakness of the club and Trust at that time.
Isn't the training ground in such a bad state at the moment that the club have had to abandon it in favour of whenever there's a spare slot at Bisham Abbey? It's almost as if the owners of the training ground were keen for the club to find somewhere else. For whatever reason...
Wonder if a sticking point was the fairly vague assertion that some money would be handed over if those that bought it made a profit out of it. Thought we lost the right to buy back for a fixed fee. Who maintains it might also be a concern.
Having said that the statement did say there weren't major blockers just that there's lots of moving parts and people to either paid up or reach agreement with.
@aloysius said:
Isn't the training ground in such a bad state at the moment that the club have had to abandon it in favour of whenever there's a spare slot at Bisham Abbey? It's almost as if the owners of the training ground were keen for the club to find somewhere else. For whatever reason...
Most of the time when I drive past (last time yesterday) they are training.
@aloysius said:
Isn't the training ground in such a bad state at the moment that the club have had to abandon it in favour of whenever there's a spare slot at Bisham Abbey? It's almost as if the owners of the training ground were keen for the club to find somewhere else. For whatever reason...
I drive past it quite regularly, and they are pretty much always up there, I think quite a bit of work has been done to it over the years to get it up to scratch as I know a few people who have worked in there. I'm guessing it's a lot better than you're thinking.
Comments
Can't help but be worried here.
Nice bit if short term relief resigning Jase mind
Genuine question: Why would they free up space in the SCMP if the deal was in jeopardy?
Better accountants
@micra fly across the Atlantic in this case. Uncomfortable but not impossible.
Sincerely hope these ex-hangers on and penny pinching parasites are not trying to screw over this deal .....
Sending an email last week saying the deal is expected to be done "early next week", then silence, then another friday evening mail to say it's not happening yet but is progressing "reasonably quickly" with no explanation for the delay is shambolic really isn't it?
I also still find the Mark Palmer thing odd
Well quite
Given the debacles at Bury, Bolton, Macclesfield, and these are the ones we know about, my understanding from informed sources is that the EFL now require ‘considerable capital’ be held in escro between the league and any future potential club owners. This is a new policy and possibly not factored into any funding of an initial deal / offer / agreement. I do not know the escro sum required but have been told it is ‘substantial’.
If factually correct the impact of this policy shift may be of significance.
Has Trevor ever sent out an email that didn’t make everyone nervous and more confused?
@chairboyscentral I read that line in the statement as being a reference to the additional sponsorship/partner deals we have signed recently.
I would hope they (Feliciana) have sanctioned an increase in budget and that, to me, is a good sign that all parties are anticipating a conclusion to the deal.
Let's hope it is sooner rather than later.
I'm hoping that the apparent delay in completing the deal this week has been due to there being 'other business' that needed to be concluded before tomorrow.
And I don't mean a decision on whether or not I can get a hot pie at half-time.
I wish Rob a speedy recovery.
Maybe it's just me and my naive and trusting nature but I found that a refreshingly open and, thus, reassuring announcement.
As much as I'm loving all the positivity at the club, I'm absolutely amazed and incredibly disappointed that Trevor is involved still. Got my tin hat on.
There’s absolutely zero reason why he would need to fly across the Atlantic to complete the deal if the hip opp prevents travel.
Assuming he trusts his advisors, is able to use Skype for business and has a Docusign account.
There’s also a question, that links into another thread, about football taking climate change seriously, if he should take a flight to sign something off when there are very viable alternatives anyway.
Aside from shenanigans over whether Couhig needs to be in the country or not, I'm more concerned about the somewhat cavalier statement that we're spending more than the original spending cap, and confident that the accounts to be declared in future to allow us to get away with it. As far as I know the penalties for a 'slight' overspend (i.e. going less than £100k over the cap) is 1% of the overspend, so the Couhig's may feel this a gamble worth taking. However if it goes over, then the penalties can easily run into 5 figures very quickly.
As I understand it, and I use the term ‘understand,’ loosely, the SCMP is voluntary. Does that mean the penalties are too?
Rob Couhig would not need to cross the Atlantic to sign as he could either nominate a proxy to sign on his behalf or sign in his home office, then scan and email the signed copies and send the paper originals later. I’ve seen both methods on business contract signings.
More interesting this week is the mention of the Chairboys funders and I think the training ground owners in the negotiations. That means the Couhigs are not just negotiating with the Trust but also with the funders. I’m not sure that was made clear during our vote on the takeover that there was a three way deal here.
My suspicion is that the training ground sale and leaseback contract includes a ‘change of control’ clause which means the terms apply to continued rental to the Trust owned WWFC. But, as the club is about go through a change of control to the Couhigs then the training ground owners could seek new terms for the rental and/or renege on the original deal which included a ‘buy back’ clause. Although I remember the ‘buy back’ price always seemed fairly favorable to the funders I wonder if their prices both from rental and buy back have just gone up...hence more negotiations required.
I always thought the deal to sell and leaseback the training ground was financially poor, reflecting the weakness of the club and Trust at that time.
Isn't the training ground in such a bad state at the moment that the club have had to abandon it in favour of whenever there's a spare slot at Bisham Abbey? It's almost as if the owners of the training ground were keen for the club to find somewhere else. For whatever reason...
Wonder if a sticking point was the fairly vague assertion that some money would be handed over if those that bought it made a profit out of it. Thought we lost the right to buy back for a fixed fee. Who maintains it might also be a concern.
Having said that the statement did say there weren't major blockers just that there's lots of moving parts and people to either paid up or reach agreement with.
Most of the time when I drive past (last time yesterday) they are training.
Sounds from his interview that they've told gareth its all okay as well, the secretive lying power group.
I drive past it quite regularly, and they are pretty much always up there, I think quite a bit of work has been done to it over the years to get it up to scratch as I know a few people who have worked in there. I'm guessing it's a lot better than you're thinking.
It would make a lovely housing estate...
although I'm sure that nice Mr Beeks would never consider such a thing !
Carry on with chat like this and we’ll be subject to another planning and zoning lecture from Dev...
It's the rabbits (and huge investment required) that are the problem with the current training ground.
Wherever there are rabbits, you can be sure there are foxes lurking for a lunch. Probably not thought of when the voting was cast!
Surely they put rabbit stew on the menu in the Caledonian for a couple of games. Would be a win win situation.
Bet Tom Kerridge can whip up a mean Rabbit pie for extra half time sales
First post in a long time, but am intrigued why McCarthy would take us over a spending cap? Surely Rolando Aarons wages would be more than Jason's?