Howardroark

If he did he would’ve bought it by now as his cost increases almost daily.

Debt free cost is essentially £29M. Cost of admin is £20M but crucially you need £8M-£11M of it upfront just to get to the point of ownership and putting in to administration (plus proof of funds for the other £12M). The discount is the 75% you’ll get off the non football creditors.... But at what cost, 2 year transfer ban.....

Their growth as a percentage of turnover; year on year doesn’t indicate that this business fits that category. This is a mature market now with Fasthosts et al along with the AWS behemoth.

Equity is divided in any limited company, doesn’t need to be traded on an exchange.

Not at all, a legitimate businessman with no disqualifications etc, just not the white knight type investor.

Admin costs at present are minimum £16M EFL rules- All football creditors to be paid in full, other creditors to receive minimum 25%. If not met then they won’t release the golden share (a single share they hold in every league club).

That’s the back catalogue of his rights to the songs, managed through a digital company that VGC invest in. UKCloud and Jeff T are a legitimate business, but not a majorly profitable one at present.

Being able to trust an owner would be enthusing surely?

Announcing a deal in December, communicating with fans on social media is publicity. Sharon is probably going to be the new Chief Executive, she has held 13 directorships, none in any firms with turnover of £4M+. Examples are 3 taxi company’s, and some property management firms.

Yes, or Southampton

True, I’m merely making deductions from both my experience and information that is publicly available about VGC, their funding and the experience of Mr Basran

£2-4M

They would be able to generate some by re-leveraging the shares as collateral (basically what KA did with Moonshift).

20+ years in mergers and acquisitions, you know what to look for. Put it this way, the longer it takes, the less likely it is to happen. Real buyers do not court publicity either.

It depends, I believe he has access to the funds to do the following: Pay KA £8-£11M, enough to gain ownership of the Burnden Leisure shares and control of the club. Probably enough to pay HMRC to avoid winding up. Outside of that, very little. The problem then arises that you are reliant on agreeing terms with all creditors to prevent winding up orders, I assume that’s what he has been doing the past few months. A normal business can seek protection from creditors issuing winding up orders using a CVA, however a football club is different. The EFL won’t allow administrations (they hold the golden share) unless certain terms are met and that involves paying ALL football debts. Bottom line is that you may get the takeover, but the situation will be no different.

Unlikely, if you look at the VGC fund on pitchbook.com you’ll see the amount of investors in to the fund, and their locations. It suggests an ability to attract small funds (£1M-£3M) from digital focused, American Venture Capital firms. This is almost certainly due to the Eduardo Saverin links (people invest because he has and he has the Facebook links etc ). What this means is that Basran would be very unlikely to be able to attract anywhere near the funds necessary outside of VGC, he simply doesn’t carry the weight of reputation or the experience. In summation, he can’t be using VGC to fund it and he doesn’t carry the reputation or contacts to fund outside of VGC. Hence the delay...... no money.

Mendes is an ‘advisor’ to Wolves, not an employee. Admittedly Fosun hold an investment in his agency, but the directors of Wolves aren’t a shared director with the agency and they aren’t considered a ‘controlling influence’. Not suggesting Basran hasn’t been open, but simply VGC Partners would have to dispose of their shareholding in the agency before acquiring BWFC.

Facts are a representation of learned knowledge. No conjecture here other than where stated.

Not seeking to discredit, simply pointing out that at present there is a breach of the Fit and Proper Person’s test due to conflicting interests. Again, all publicly available and no agenda, just speculating on reasons for the delay, other than lack of funds.

The biggest issue is the legality around if Burnden Leisure owe Moonshift or Inner Circle. If the former then it’s a very simple process for a buyer, if the latter then it’s more complicated and more expensive. In all fairness to KA he’s pulled a blinder in having the loan made to Inner Circle but there is scope for legal challenge if the purpose can be proven to be solely for investment in to Burnden Leisure.

Yes sir I am, although I’m somewhat removed geographically.

If I was Peter Kenyon I’d happily tell you that I had no interest, not when Leeds/Derby will be for sale.

Last one for the evening, will the EFL have concerns that Basran and VGC Partners are investors in / part owners of a football talent agency- 10Tentalent? An agency that focuses (with the exception of Mark Noble) on lower league players? Would certainly prevent players from said agency being transferred to BWFC...... likewise will the agency suffer through its potential links? Seeing as it’s VGC’s (Venlo’s) only profitable venture at present it seems odd that they (fund providers) would back a venture that brought direct conflict. Just a thought. Night all.

It’s all public domain/insolvency law. You can’t give preferred bidder status when creditor covenants have been breached; therefore no exclusivity.

No exclusivity in place