Matthew1234

Quantuma have played a lot of this process, with their cards close to their chest. I agree communication would be nice, but that hasn't worked very well for the Club administrators. They have set too many time deadlines on things, only for things to slip and thus create more frustration. Personally, I don't mind them not naming a preferred bidder, I would rather just have an announcement now when it is actually finished. They will be working on it behind the scenes. We just have to wait for it to be official. You would imagine that the lawyers are running through any documents with a fine comb since Wednesdays court hearing, and rightly so given there is a lot at stake. I can't see there being much longer to wait. The club side sounded practically done, so one would hope they are just finalising the hotel now.

That's what I took from it too. Perhaps naïve of me, but I was expecting initial consideration to be higher for the transaction. That being said, the liabilities that would have to be settled post completion, probably resulted in a lower amount to be paid. Still, the figures mentioned do appear, somewhat, to support Ken in his previous statements in that on the actual sale of his shares, he was willing to accept a loss. I'm not sure if this has been mentioned on here, but Bassini did claim that Ken "demanded" a further £5m in consideration. This was an area of contention, and another factor it appeared, in leading to an adjournment until September.

I genuinely don't think anything will happen till after the 2nd September. We will have to see what the administrators statement says.

Want, but couldn't afford it when he signed an SPA, and didn't fulfil his end of the transaction.

I think the modification of the injunction is further evidence that this is a dispute between ken and bassini. The club can be sold - there is surely a very, very low chance that the judge would allow that, and then let Bassini take control.

In the eyes of the court, Bassini does have a case. The SPA was signed. £1 SPA, with £199,999 further consideration to be paid. There was evidence from Kens solicitors detailing this hadn't been paid. The judge wanted more time to assess this. Ultimately, the crux of this sounded like its between Bassini and Ken. I think Bassini knows he isn't going to get the club now, but we can't ignore he did sign an SPA and hence has some grounds.

Bassini also failed to attach the judges initial comments r.e the injunction, when the administrators of BWFC were notified. Constant delay tactics, and the judge was not too impressed with it.

Just come out of the court now. Quite glad I didn't pursue a career in Law in the end! Probably been said already, but the Judge was quite vocal in his criticisms of Bassini's "lack of precision" R.E the injunction, and what it actually meant.

Someone offer me a silver lining here. Can Michael James just decline any offer from Bassini, and choose FV or would that not be possible?

5 days now since this deal was a matter of being a formality. There's clearly more than meets the eye here so I'm cutting myself away till Friday and hoping for an update by then...

Clubs in a terrible financial position and people are kicking off over a £24 adult ticket. Can't believe it. I really can't.

While Jeff Thomas is no longer a person with significant control, surely it's also possible that he's still investing but through debt rather than equity. It's pure speculation at this stage all the same, but it's possible.

Apologies Chris - I haven't seen that other document, I simply viewed the termination of appointment. Interesting plot twist. There are either other investors on board or this is unravelling.

Still a shareholder.

It makes sense the more I think about it. Ken used to always mention people on social media thinking they knew everything about these deals and people who had apparently come forward Wouldn't surprise me to see him/someone close to him use these same channels in order to scare FV to increase their bid. Couple it with the last minute change to legal documents from a "senior creditor" and a picture starts to emerge

Nixon has been played once again. Strikingly similar to the last time when he ran the Bassini story and linked him to Emerson. It has to be someone around Ken leaking things to destabilise the deal and look to achieve more money.

Thanks for that

Out of curiousity do you think this changes if the Kamani brothers bid is genuine? Nixon has just released a tweet stating they have bid 7m for the hotel with a view to also acquiring the club. If PBP can be assured of cash, and this family also want the club, do you think that changes things slightly?

I just don't believe Nixon has this right. Perhaps I am just choosing to believe something that is more in line with what I hope to be true, but I simply do not buy the theory. We are into the new season now, the EFL aren't going to want to be entertaining new owners who haven't looked at the financials of the club. They know FV are (by the sounds) ready to go - and that is the safest bet. I hope it gets announced ASAP just to end this uncertainty.

Exactly. Again I think Nixon is just being fed information from the rival bidder. As you say, if the hotel is still in a marketing period then we were simply lied to last week, which I hope is not the case. I still believe FV will complete early this week. I hope so, anyway. The rhetoric coming from their camp has been very much that this is on the brink of being done, so I hope that is the case.

Home game surely won't go ahead without a new owner. The administrators can't sell tickets, can they?

If he has performed a service for the club, then that warrants payments. Whether we agree/disagree with it, if he's owed money, its because he's a)put money into the club or b)performed a service for the club. In both of those scenarios - he is rightly due some form of payment.

If its recorded in the accounts as him being owed that money - then it does. Unless you are suggesting he has just recorded invoices without any factual credence behind them, which I dont think any of us have a basis to believe that.

Being a creditor of the club does mean he input some form of service/consideration into the club. Hence it would be accounted for by recording the asset (such as cash), and creating a corresponding liability.

Very true but it's hard not to find it so frustrating.