Howardroark Posted March 10, 2019 Posted March 10, 2019 2 minutes ago, Mounts Kipper said: Surely it’s better not to reveal who or what money the potential buyer has at their disposal during negotiations, that’s if it’s not VGC. It depends, if the only reference to having the money (proof of funds) is that you run a £100M fund then you would have to disclose. Take this scenario, you want to buy a house but you don’t yet have the deposit needed for the mortgage. However you run a business that has a decent cash reserve, would it be so wrong to inflate your own wealth briefly to obtain the mortgage if you truly believed you would have the funds when it was time to pay up?
Howardroark Posted March 10, 2019 Posted March 10, 2019 11 minutes ago, Mounts Kipper said: Ken will be running around like a blue arsed fly today trying to get deal done before the banks open on Monday, given his pledge to pay the players tomorrow. Or maybe ‘VGC’ are looking down the back of the sofa for £800k that they were hoping not to pay until month end....
Mounts Kipper Posted March 10, 2019 Posted March 10, 2019 (edited) 7 minutes ago, Howardroark said: It depends, if the only reference to having the money (proof of funds) is that you run a £100M fund then you would have to disclose. Take this scenario, you want to buy a house but you don’t yet have the deposit needed for the mortgage. However you run a business that has a decent cash reserve, would it be so wrong to inflate your own wealth briefly to obtain the mortgage if you truly believed you would have the funds when it was time to pay up? I don’t think it would be wrong to do that. I see that Brittain and Basran set up the new company in readiness for the purchase of the club, would that be normal thing to do for a venture capital group prior to purchasing any business? Edited March 10, 2019 by Mounts Kipper
Howardroark Posted March 10, 2019 Posted March 10, 2019 1 minute ago, Mounts Kipper said: I don’t think it would be wrong to do that. I see that Brittain and Basran set up the new company in readiness for the purchase of the club, would that be normal thing to do for a venture capital group to do prior to purchasing any business? Yes, they will make the shares of Burnden Leisure an asset of this company just as inner circle did. The main difference for VGC is that they don’t normally make acquisitions, normally stake investments, again suggestive of a lack of experience.
Howardroark Posted March 10, 2019 Posted March 10, 2019 3 minutes ago, Mounts Kipper said: I don’t think it would be wrong to do that. I see that Brittain and Basran set up the new company in readiness for the purchase of the club, would that be normal thing to do for a venture capital group to do prior to purchasing any business? Ok, and what if it wasn’t a sure thing that you’d get the money? Would you still take the punt?
CalBWFC Posted March 10, 2019 Posted March 10, 2019 (edited) I know this is an old Nixon story, but possibly could be relevant? Edited March 10, 2019 by CalBWFC
Mounts Kipper Posted March 10, 2019 Posted March 10, 2019 Just now, Howardroark said: Yes, they will make the shares of Burnden Leisure an asset of this company just as inner circle did. The main difference for VGC is that they don’t normally make acquisitions, normally stake investments, again suggestive of a lack of experience. This accqustion is so left field to their strategy It suggest to me that VGC is not the money behind this deal.
Mounts Kipper Posted March 10, 2019 Posted March 10, 2019 2 minutes ago, Howardroark said: Ok, and what if it wasn’t a sure thing that you’d get the money? Would you still take the punt? No I wouldn’t.
Howardroark Posted March 10, 2019 Posted March 10, 2019 Just now, Mounts Kipper said: This accqustion is so left field to their strategy It suggest to me that VGC is not the money behind this deal. Correct, it’s just a name to gain credibility, and; wrongly in my opinion; over-excite the fans as to the possible wealth behind them.
Howardroark Posted March 10, 2019 Posted March 10, 2019 Just now, Mounts Kipper said: No I wouldn’t. Most wouldn’t, but given that Mr Basran is actually proven at fund raising, he has perhaps backed himself to do just that.
MickyD Posted March 10, 2019 Posted March 10, 2019 14 minutes ago, Howardroark said: Most wouldn’t, but given that Mr Basran is actually proven at fund raising, he has perhaps backed himself to do just that. Backed himself? investments could go down as well as up yadda yadda yadda... I'd rather he wasn't having a 'hopeful' punt at the expense of our club.
Howardroark Posted March 10, 2019 Posted March 10, 2019 (edited) Exactly that. Edited March 10, 2019 by Howardroark Correction
Take Hunt Off Posted March 10, 2019 Posted March 10, 2019 So in a nutshell we have speculative takeover with no actual real money behind it yet but a guy fronting up who thinks he can attract the backing Good luck with that although obviously some capital is required up front?
TrickyTrotter Posted March 10, 2019 Posted March 10, 2019 Latest from Nixon for what it's worth Alan Nixon @reluctantnicko BOLTON. Takeover update of sorts. Anderson still holding out for as much as possible. Basran team seem very confident. However Kenyon had right hand man at game yesterday waiting for a slip. Meanwhile tomorrow is pay day ... 10:22 AM - 10 Mar 2019
Howardroark Posted March 10, 2019 Posted March 10, 2019 Far be it from me to criticise an individual in a profession that im no expert in, but Alan Nixon knows nothing, I would advise not reading his Twitter.
Flannel Truscott Posted March 10, 2019 Posted March 10, 2019 1 hour ago, Howardroark said: I suppose it’s a question of business morality; “Do I use the name of my £100M fund, of which I haven’t personally contributed to, as a way of gaining credibility in the purchase of a football club, even if I’m then going to have to raise the acquisition funds externally”? Herein lies my overall point through all of this, the mention of “VGC” and their funds is ‘smoke and mirrors’, possibly to pass EFL rules, but more likely to give credibility to a buyer that in other circumstances wouldn’t have been considered. Has Basran used the VGC name in this way? Or just speculation in the press and folk on here. You're accusing him of something he hasn't done to discredit him, for a reason that is not yet clear.
Howardroark Posted March 10, 2019 Posted March 10, 2019 29 minutes ago, Take Hunt Off said: So in a nutshell we have speculative takeover with no actual real money behind it yet but a guy fronting up who thinks he can attract the backing Good luck with that although obviously some capital is required up front? He’s fronting under the guise of his £100M fund so technically funds are there, on paper....
Howardroark Posted March 10, 2019 Posted March 10, 2019 3 minutes ago, Flannel Truscott said: Has Basran used the VGC name in this way? Or just speculation in the press and folk on here. You're accusing him of something he hasn't done to discredit him, for a reason that is not yet clear. Not to discredit; to simply make clear the semantics of their statements thus far. No claim it is VGC buying, just that Basran is the founding partner.... However the semantics of newspaper print blur the lines and that’s not acceptable.
TrickyTrotter Posted March 10, 2019 Posted March 10, 2019 12 minutes ago, Howardroark said: Far be it from me to criticise an individual in a profession that im no expert in, but Alan Nixon knows nothing, I would advise not reading his Twitter. His knowledge and access to sources (or lack of it) has been endlessley debated on here over many years. It's what people do and on twitter. Life would be a little dull otherwise waiting for news.
Howardroark Posted March 10, 2019 Posted March 10, 2019 1 minute ago, TrickyTrotter said: His knowledge and access to sources (or lack of it) has been endlessley debated on here over many years. It's what people do and on twitter. Life would be a little dull otherwise waiting for news. I actually think he is well connected at certain clubs, just not at this one on this particular issue.
Guest Posted March 10, 2019 Posted March 10, 2019 (edited) 7 minutes ago, Howardroark said: I actually think he is well connected at certain clubs, just not at this one on this particular issue. Then you must know more than you have let on so far Edited March 10, 2019 by boltondiver
TrickyTrotter Posted March 10, 2019 Posted March 10, 2019 (edited) 9 minutes ago, Howardroark said: I actually think he is well connected at certain clubs, just not at this one on this particular issue. We are on his patch, but is anyone well connected with our club given that Ken is the Board? The only potential sources for accurate information are Ken & his family, the bidders and the two parties advisors. All the rest is guess work or the black art communications to promote one, both or other parties interests in this matter. Edited March 10, 2019 by TrickyTrotter punctuation
Ratwhite Posted March 10, 2019 Posted March 10, 2019 4 minutes ago, Howardroark said: I actually think he is well connected at certain clubs, just not at this one on this particular issue. Hi Mate, you seem pretty clued up on all this and (in my view) quite anti-Basran (or the Basran bid). Would you prefer they didn’t get it? Or tha A N Other got it?
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