Article in Sunday Express saying takeover imminent.....

whos the bloke interviewing?

 

Jack Dearden.

Jack dearden

 

He was quite strong with his questions, rightly so, but ka did well. Especially pointing out that next season won't be as difficult financially- a point made to the st perhaps.

He also reckons he's got money to put in!

Makes sense not to put cash in long term if there's a threat of it being taken out by blu marble.

 

Itll be interesting to see if DH takes up GMR on their interview.

 

So far nothing I have heard or read has swayed me from backing Sweaty Ken.

Neither has my full trust, but ken is in the box seat and seemingly trying to do the right thing.

Neither has my full trust, but ken is in the box seat and seemingly trying to do the right thing.

Thats where I'm at as well

 

At least KA seems to be trying the get business side of things back on track with no wage whilst deano is taking a wage whilst suffering in silence

Jack Dearden

What an utter cock, he is

It seems basically that Deano wants to saddle the club with his wonga loan and Ken wants none of it and I can see why. Holdsworth will be fecked if Ken wins that battle, a 5 mill loan and no fkin money! How he ever thought it was viable to take out such a huge loan at silly % to attach it to a club already on its arse is beyond me. 

While I'm firmly in Sweaty Ken's camp, if we needed 5 million sharpish, the borrower ain't in much of a position to be picky

 

If I had been lending 5 million last January or whenever and I wasn't sure if the assets were there to cover the loan, I'd have either refused to lend or charged a hefty interest

 

 

Also, as ex mid asked, has DH put a few million in through the loan, while KA hasn't put anything in, you can perhaps see why DH has his bottom lip out

 

 

As it stands, I'm with KA, but DH is above ST

Also, as ex mid asked, has DH put a few million in through the loan, while KA hasn't put anything in, you can perhaps see why DH has his bottom lip out

 

 

Thats a fair point as well and probably why I'm still not sure bout KA

While I'm firmly in Sweaty Ken's camp, if we needed 5 million sharpish, the borrower ain't in much of a position to be picky

 

If I had been lending 5 million last January or whenever and I wasn't sure if the assets were there to cover the loan, I'd have either refused to lend or charged a hefty interest

 

 

Also, as ex mid asked, has DH put a few million in through the loan, while KA hasn't put anything in, you can perhaps see why DH has his bottom lip out

 

 

As it stands, I'm with KA, but DH is above ST

yea I think if DH has put that loan into the club and Ken has accepted it then that would be a different story altogether in my eyes. he could rightly argue he stuck 4m in and ken hasnt. Surely DH would just say that though and we would all agree thats fair. The debt and interest he has saddled us with would still be a nnoying though. Someone posted a few pages back that basically any tom or dick could have borrowed 5m against our assets just to play at owning a club. Still for me though a ridiculous thing to do to borrow that sort of money especially against the clubs assets. Maybe he should have just thought to himself "I cant afford to buy a football club" and move on. Granted that may have ended up us being out of business but it may have only granted us a stay of execution for a few months. If Ken is telling the truth and DH is simply refusing to match the investment pro rata to the share holdings then it does make DH a bit of a wanker IMO.

While I'm firmly in Sweaty Ken's camp, if we needed 5 million sharpish, the borrower ain't in much of a position to be picky

 

If I had been lending 5 million last January or whenever and I wasn't sure if the assets were there to cover the loan, I'd have either refused to lend or charged a hefty interest

 

 

Also, as ex mid asked, has DH put a few million in through the loan, while KA hasn't put anything in, you can perhaps see why DH has his bottom lip out

 

 

As it stands, I'm with KA, but DH is above ST

As I understand it KA has put nothing in permanently but assisted to the tune of £3.5m personally when we needed it. DH has got a separate legal entity in the name of  Sport Shield to borrow £5m and unless someone can confirm otherwise is not personally liable for any of it, 

Dearden is embarrassing what an opportunity lost to ask some incitful questions namely what do you think the end game will be why can't we shift blu marble.

 

Ken has always maintained that the £4m was in before he got involved so is irrelevant I don't doubt that's a fact but you can see why dean thinks he's stretching it

As I understand it KA has put nothing in permanently but assisted to the tune of £3.5m personally when we needed it. DH has got a separate legal entity in the name of  Sport Shield to borrow £5m and unless someone can confirm otherwise is not personally liable for any of it, 

 

 

Even worse, he seems to have dumped it on the club

 

Surely, can't be legal?

As I understand it KA has put nothing in permanently but assisted to the tune of £3.5m personally when we needed it. DH has got a separate legal entity in the name of  Sport Shield to borrow £5m and unless someone can confirm otherwise is not personally liable for any of it, 

So it basically means that KA is trying to say that loan is Sportshields problem not BWFC's? didnt mean to infer DH personally liable but the battle seems to be ken wants nowt to do with this blu marble loan but if the club have took 4m of it and used it to keep us going then it complicates it further especially if Ken hasnt invested a bean without taking it back. 

Suppose this will come down to a court ruling that decides whether the club owes that loan back to blu marble or Sportshield do. 

From just a supporters viewpoint, if KA can fuck that loan off and takeover DH shares and sticks to his word of investing without expecting an immediate return then thats the best way forward club wise, obvs not for Deano and sportsshield. 

I feel fairly sure I dont trust either of them but Ken doing himself no harm in the kind of interviews he keeps giving. We have gone from knowing nothing to everything, albeit from one side only really. 

If Holdsworth did what had to be done and saved us but now he's in the shit, as twattish as this sounds, it's tough at the top

 

If we are OK, I'll sleep at night

 

He shouldn't have missed at Wembley

So it basically means that KA is trying to say that loan is Sportshields problem not BWFC's? didnt mean to infer DH personally liable but the battle seems to be ken wants nowt to do with this blu marble loan but if the club have took 4m of it and used it to keep us going then it complicates it further especially if Ken hasnt invested a bean without taking it back. 

Suppose this will come down to a court ruling that decides whether the club owes that loan back to blu marble or Sportshield do. 

From just a supporters viewpoint, if KA can fuck that loan off and takeover DH shares and sticks to his word of investing without expecting an immediate return then thats the best way forward club wise, obvs not for Deano and sportsshield. 

I feel fairly sure I dont trust either of them but Ken doing himself no harm in the kind of interviews he keeps giving. We have gone from knowing nothing to everything, albeit from one side only really. 

Think you're right Lee in that neither KA or DH have any personal liability at this present time and the legitimacy or otherwise of the Blu Marble loan will depend on what's been done with the funds. If it's kept the club going then the Club will no doubt be liable but we are all guessing and don't really know. Will all come out in the wash in due course.

Dearden is embarrassing what an opportunity lost to ask some incitful questions namely what do you think the end game will be why can't we shift blu marble.

 

Ken has always maintained that the £4m was in before he got involved so is irrelevant I don't doubt that's a fact but you can see why dean thinks he's stretching it

 

He was probably told before the interview not to ask specifics about Blue Marble. There is an impending court case by the sounds of it.

There must be something worth squabbling over

Think you're right Lee in that neither KA or DH have any personal liability at this present time and the legitimacy or otherwise of the Blu Marble loan will depend on what's been done with the funds. If it's kept the club going then the Club will no doubt be liable but we are all guessing and don't really know. Will all come out in the wash in due course.

I suppose the worrying thing for us as fans is that if this dispute is going legal it won't be sorted out any time soon and one thing that is for sure is that the lawyers, barristers, solicitors etc. will be much richer at the end of it!

Even worse, he seems to have dumped it on the club

 

Surely, can't be legal?

It sounds like a leveraged takeover. Glazer's done the same at Utd.

 

Can only think DH gave KA some shares to provide funding at various points.

Ok attempt at simplifying the issue & a timeline:

 

- Deano borrows £5m in Sports Shield name secured against the assets of BWFC puts £4m in to the club the £1m goes to expenses

 

- Ken flashes his bank statements to the FL says he'll supply funding to keep us a float for remainder of last and this season - deal gets done

 

- Ken asks dean to match his funding pro-rata to shares dean says I've put £4m in Ken says before my time son acrimony starts

 

- Ken agrees in principal to buy deans shares dean has to go back to blu marble who demand xyz to relinquish their security on assets dean can't sell his shares and be left holding blu marble baby - Ken now discovers terms of blumarble loan to Sport Shield why would he know previously fuck all to do with him - he then questions the legality of a loan to business a secured on the assets of business b all signed off by one man.....the governance of that is defo questionable if Deano owned 100% of both then maybe but we assume he didn't

 

- ken willing to put money in and leave it once he can get some security on assets but he wont play second fiddle to blu marble perfectly sensible so for the moment he's providing cash flow support unsecured but taking it back asap

 

Conclusion the offer for deanos shares must be sufficient to settle blu-marble and release their security on bwfc assets.....all while the clocks ticking away at 30%

Edited February 12, 20179 yr by onlyoneawalker

Ok attempt at simplifying the issue & a timeline:

 

- Deano borrows £5m in Sports Shield name secured against the assets of BWFC puts £4m in to the club the £1m goes to expenses

 

- Ken flashes his bank statements to the FL says he'll supply funding to keep us a float for remainder of last and this season - deal gets done

 

- Ken asks dean to match his funding pro-rata to shares dean says I've put £4m in Ken says before my time son acrimony starts

 

- Ken agrees in principal to buy deans shares dean has to go back to blu marble who demand xyz to relinquish their security on assets dean can't sell his shares and be left holding blu marble baby - Ken now discovers terms of blumarble loan to Sport Shield why would he know previously fuck all to do with him - he then questions the legality of a loan to business a secured on the assets of business b all signed off by one man.....the governance of that is defo questionable if Deano owned 100% of both then maybe but we assume he didn't

 

- ken willing to put money in and leave it once he can get some security on assets but he wont play second fiddle to blu marble perfectly sensible so for the moment he's providing cash flow support unsecured but taking it back asap

 

Conclusion the offer for deanos shares must be sufficient to settle blu-marble and release their security on bwfc assets.....all while the clocks ticking away at 30%

 

 

It must be assumed that ED allowed Deano to secure the loan against the assets?

 

What is the date of the loan, do we know?

It must be assumed that ED allowed Deano to secure the loan against the assets?

 

What is the date of the loan, do we know?

Thats the bit I don't get

 

Dean takes out loan in order to fund his takeover saying to blu marble that it will be secured against the ground

 

Ken later steps in as Dean's original backers pull out

 

So ken wouldn't have any say in the loan

 

I think

The clock can tick at 50% a day, isn't that Sport Shields problem?

The clock can tick at 50% a day, isn't that Sport Shields problem?

I'd imagine if the only asset that sports shield has is BWFC (effectively the Macron) then they could put a charge on that asset or put SS into liquidation taking control of their assets?

I'd imagine if the only asset that sports shield has is BWFC (effectively the Macron) then they could put a charge on that asset or put SS into liquidation taking control of their assets?

OK I understand that could in theory happen.

 

I cannot believe someone handed over the keys to sportshield, thus allowing that to happen.

 

Please tell me that's not happened.