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Wanderers Ways. Neil Thompson 1961-2021

Take Over


Kane57

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1 minute ago, Mounts Kipper said:

I can’t believe in an email to staff Anderson has mentioned that he’s now able because of the delay to talk to other interested parties, where does that leave him with his remarks last week that ‘“heads of terms been agreed” 

God knows.

As much as Iles is an irritating so and so with his stuff, it also seems ken just can't help himself either.

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Kens taking the piss now, I've backed him up to now but this is beyond a joke. Looks like the deal was supposed to be done today but both parties seem to be playing poker over the staff wages a who blinks first situation. Well I don't think Ken will blink for one minute which puts the whole thing into doubt and I don't think he's talking to other interested parties it's just brinkmanship. How dare he play with people's lives in this way, JUST DO THE FUCKING DEAL AND FUCK OFF!!!!!!!!!!!! 

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I cannot imagine that he is able to negotiate with anybody else unless the contract/HOT have expired or been breached. 

By stating he is in discussions would likely breach it from the clubs point of view. I just can’t get my head round this at all

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5 minutes ago, Mounts Kipper said:

I can’t believe in an email to staff Anderson has mentioned that he’s now able because of the delay to talk to other interested parties, where does that leave him with his remarks last week that ‘“heads of terms been agreed” 

Don't think he ever said he had signed an exclusivity deal with them.

He always says he is in discussion with "other interested parties", it's his cack handed way of try to apply leverage to those potentially buying.  They know that as well but given the cost of them making the bid and undertaking due diligence it just sows an element of doubt in their mind.

 

 

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20 minutes ago, Escobarp said:

I cannot imagine that he is able to negotiate with anybody else unless the contract/HOT have expired or been breached. 

By stating he is in discussions would likely breach it from the clubs point of view. I just can’t get my head round this at all

So long as there is no exclusivity agreement, he probably can.

I’d have thought a buyer would have wanted exclusivity (and no doubt Ken will have demanded a significant non-returnable fee for the privilege). 

Perhaps the buyer did have exclusivity, but it only lasted until 28 February...

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Cutting through all the crap, he SHOULD tell everyone when they will be paid, and by when I mean an actual date. He has an obligation to ensure all staff are paid wages, so whatever the arguments, he should do this.

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3 minutes ago, Wullie said:

Cutting through all the crap, he SHOULD tell everyone when they will be paid, and by when I mean an actual date. He has an obligation to ensure all staff are paid wages, so whatever the arguments, he should do this.

If he's reliant on a takeover for that...then he can't say as it is out of his control. 

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Just now, bwfcfan5 said:

If he's reliant on a takeover for that...then he can't say as it is out of his control. 

Not really, he has an obligation to pay wages, the takeover is irrelevant, if it falls through, and the process for new potential buyers takes just as long, would he expect them all to wait again?

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1 minute ago, Wullie said:

Not really, he has an obligation to pay wages, the takeover is irrelevant, if it falls through, and the process for new potential buyers takes just as long, would he expect them all to wait again?

He can't pay the staff if the money isn't there to pay them or if accounts are frozen...he personally does not have a duty to pay the wages but to run the business. I suspect should the takeover fall through that its endgame one way or another now. 

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1 minute ago, bwfcfan5 said:

He can't pay the staff if the money isn't there to pay them or if accounts are frozen...he personally does not have a duty to pay the wages but to run the business. I suspect should the takeover fall through that its endgame one way or another now. 

I understand what you are saying however, he owns 94% of the football club, whilst he doesn't have to pay out of his own pocket, the business he owns does. He would have known in advance he didn't have the money to pay wages for February, and yet nothing was said to anyone, people couldn't try and budget knowing they could be short, it is morally wrong, and whatever statement he makes after the event becomes irrelevant. There will be alot of people stressing out in regards to mortgages, rents, energy bills etc, who if they were warned in advance, could have attempted to budget, but no, no statement is made until a couple of days before the pay day, it's wrong on many levels

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He isn’t obliged to pay the wages himself, it’s a Ltd company 

If it ain’t there, it ain’t there 

The bigger concern for me is that the season ticket money hasn’t been taken from everyone’s DD’s (or hadn’t this morning). Surely that’s a significant amount of income not being collected which is crazy really 

It’s just a big mess really, let’s hope this deal goes through and we have some stability 

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21 minutes ago, Jol_BWFC said:

So long as there is no exclusivity agreement, he probably can.

I’d have thought a buyer would have wanted exclusivity (and no doubt Ken will have demanded a significant non-returnable fee for the privilege). 

Perhaps the buyer did have exclusivity, but it only lasted until 28 February...

Why would anyone paying 27m for a business or an asset enter into a very costly due diligence process without a period of exclusivity? In all my days dealing with acquisitions etc in a former life I never saw anything of this size not have that. So as I said unless it’s expired (which I find unlikely so soon) I just can’t get my head around any of this. 

But maybe it was a 7 day exclusivity who knows and  guessing we never will know if I’m honest. Your guess is as good as mine 

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Just now, radcliffewhite1 said:

Wonder what’s in the hampers 

Wouldn't know what to believe anymore, it could be credible I suppose. REgarding the hampers, hopefully not the stuff people put in the charity bins you see at supermarkets

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If that email is genuine, then he should have said WHEN staff will get paid.

Assumption must be that the talks with Basra’s have stalled so the exclusivity agreement has therefore ended.

The club is simply broken and only an utter crackpot would buy it right now.

I’d say admin is less than 2 weeks away if these buyers have been scared off.

Edited by Spider
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47 minutes ago, radcliffewhite1 said:

 

I can see the bit about players and staff being about right, but why would matches be played behind closed doors because of an unpaid police bill? it's not like we need them for matches to go ahead

Still, good news about the ST direct debits, got an extra £45 to spend this weekend

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