He will have to prove he was given assurances, and that he met his obligations, but then also crucially as @ReadingMarginalista says that Dai pulling the rug was responsible for his reasonable losses and not just that he spaffed some money he was never getting back and wishes he hadn't.
Rob has already been paid back the 5 million he lent the club, with interest. What he wants now is compensation for the loss of 8 million he would have made if the sale had gone through, according to him. Claiming for legal costs etc. he paid for is one thing, but claiming for profits he may have made is another! How can he be sure he would have made a profit? He could have made a loss just as easily, perhaps Dai will claim a share of what Dai saved Rob by not selling to him. This whole process is so crazy, that anything is possible.
Glad we did you a favour last night, good luck for Saturday.
I thought that Couhig's basis for sueing was that Dai Yongge had broken the terms of the exclusivity agreement. Whilst Couhig had stumped up a loan on the basis of being the sole interested party and was ready to complete, Yongge was still negotiating with other parties. If that is indeed the case, then he has every right to seek redress.
Whether this new party has any more success in closing than others have had remains to be seen, but the fact that the ghost of his previous deal is still casting a shadow over proceedings is no-one's fault but Yongge's.
Rob Couhig has made an unbelievable amount of money by trying it on. He’s unbelievably ballsy. But we are now seeing he is largely in it for himself.
With Wycombe, he saw an opportunity to make millions out of the club. The way to do that was by getting the percentage of ownership changed on the proviso that certain improvements would be made to the stadium.
The deal to extend his shareholding from 75% to 90% two years ago was on the proviso he would fund a new access road. The agreement also included “expanding the car park, reconstruction of the home terrace, the Origin stand and refurbishment of the Frank Adams stand.”
Extending his shareholding allowed him to sell the club for significantly more than before. But the agreement has not been honoured and shows no signs of ever being honoured by the current owners who have inherited the situation.
Would be interested to hear the latest on this from the Trust but Couhig benefitted massively from this and is trying to benefit from Reading too.
I completely agree. In addition to that, didn't he put the thumbscrews on the Trust getting massive concessions on the asking price, knowing we were in no position to turn down the reduced offer for the 75% stake?
Comments
He will have to prove he was given assurances, and that he met his obligations, but then also crucially as @ReadingMarginalista says that Dai pulling the rug was responsible for his reasonable losses and not just that he spaffed some money he was never getting back and wishes he hadn't.
Rob has already been paid back the 5 million he lent the club, with interest. What he wants now is compensation for the loss of 8 million he would have made if the sale had gone through, according to him. Claiming for legal costs etc. he paid for is one thing, but claiming for profits he may have made is another! How can he be sure he would have made a profit? He could have made a loss just as easily, perhaps Dai will claim a share of what Dai saved Rob by not selling to him. This whole process is so crazy, that anything is possible.
Glad we did you a favour last night, good luck for Saturday.
I thought that Couhig's basis for sueing was that Dai Yongge had broken the terms of the exclusivity agreement. Whilst Couhig had stumped up a loan on the basis of being the sole interested party and was ready to complete, Yongge was still negotiating with other parties. If that is indeed the case, then he has every right to seek redress.
Whether this new party has any more success in closing than others have had remains to be seen, but the fact that the ghost of his previous deal is still casting a shadow over proceedings is no-one's fault but Yongge's.
Rob Couhig has made an unbelievable amount of money by trying it on. He’s unbelievably ballsy. But we are now seeing he is largely in it for himself.
With Wycombe, he saw an opportunity to make millions out of the club. The way to do that was by getting the percentage of ownership changed on the proviso that certain improvements would be made to the stadium.
The deal to extend his shareholding from 75% to 90% two years ago was on the proviso he would fund a new access road. The agreement also included “expanding the car park, reconstruction of the home terrace, the Origin stand and refurbishment of the Frank Adams stand.”
Extending his shareholding allowed him to sell the club for significantly more than before. But the agreement has not been honoured and shows no signs of ever being honoured by the current owners who have inherited the situation.
Would be interested to hear the latest on this from the Trust but Couhig benefitted massively from this and is trying to benefit from Reading too.
I completely agree. In addition to that, didn't he put the thumbscrews on the Trust getting massive concessions on the asking price, knowing we were in no position to turn down the reduced offer for the 75% stake?