13 minutes ago, leebwfc said:

Cheers, I get it now (I think) 

So if PBP are part of this consortium and / or just want their 5m back then surely they wouldn't fight any other bidder because they get it either way, then when whoever else buys the hotel (that they didnt want) is stuck with a lemon. 

Thats seems to be the case and thats why this is dragging on so long. They just have to poker face this out because there are no "real" rivals to their bid?

Think it’s more a question of whether PbP - James and Morris want their 5.5M back in cash immediate or a stake in club/hotel.

James is in FV to make deal cheaper and help protect club. But what if PbP would prefer their cash and not to be involved in running club?

I think if FV/James want hotel they will get it. Because James is largest secured creditor and if they are converting 5.5M to equity it’s going to take a mental bid to beat that. But I guess it’s a question of what they want. 

1 minute ago, leebwfc said:

Cheers, I get it now (I think) 

So if PBP are part of this consortium and / or just want their 5m back then surely they wouldn't fight any other bidder because they get it either way, then when whoever else buys the hotel (that they didnt want) is stuck with a lemon. 

Thats seems to be the case and thats why this is dragging on so long. They just have to poker face this out because there are no "real" rivals to their bid?

The one thing I've been wondered about was why the hotel bid was taking so long for FV to put in (yes I know Nixon says it is already in).

The only thing I could come up with is if they didn't trust the integrity of the hotel Administrator and fear that the amount bid is disclosed to a rival, who bids a penny more (so to speak) and forces some sort of a last minute deal if FV wants/needs the hotel so much.

I don't believe that would be the case though, I'm sure even the hotel Administrator wouldn't bend that far.

Maybe they have put there bid in and there have been no others to date?

Even if this other bid was genuine and even if it was for say £7m then I'm sure PBP could veto it as the majority creditor by debt - PBP being £5.5m, Anderson presumably being £1.5m (his secured creditor claim being shown as 'uncertain' by the Administrator) and unsecured debtors of £2.2m having no say at all.

If so FV are always going to get the hotel unless a bid of something like £11m is bid which would mean Ken's £3.5m plus the £2.2m unsecured would then give them the majority vote over PBP.

 

4 minutes ago, bwfcfan5 said:

Think it’s more a question of whether PbP - James and Morris want their 5.5M back in cash immediate or a stake in club/hotel.

James is in FV to make deal cheaper and help protect club. But what if PbP would prefer their cash and not to be involved in running club?

I think if FV/James want hotel they will get it. Because James is largest secured creditor and if they are converting 5.5M to equity it’s going to take a mental bid to beat that. But I guess it’s a question of what they want. 

yea good point, surely FV / MJ know the rival bids are bollocks though in reality so the cash now option is not really there, if it actually was then maybe that makes a mess of everything but like you said, would be mental 

9 minutes ago, Sluffy said:

The one thing I've been wondered about was why the hotel bid was taking so long for FV to put in (yes I know Nixon says it is already in).

The only thing I could come up with is if they didn't trust the integrity of the hotel Administrator and fear that the amount bid is disclosed to a rival, who bids a penny more (so to speak) and forces some sort of a last minute deal if FV wants/needs the hotel so much.

I don't believe that would be the case though, I'm sure even the hotel Administrator wouldn't bend that far.

Maybe they have put there bid in and there have been no others to date?

Even if this other bid was genuine and even if it was for say £7m then I'm sure PBP could veto it as the majority creditor by debt - PBP being £5.5m, Anderson presumably being £1.5m (his secured creditor claim being shown as 'uncertain' by the Administrator) and unsecured debtors of £2.2m having no say at all.

If so FV are always going to get the hotel unless a bid of something like £11m is bid which would mean Ken's £3.5m plus the £2.2m unsecured would then give them the majority vote over PBP.

 

yes, and its hard to see anyone of sound mind trying to pay 11m for a hotel that barely makes a profit attached to a football team on it's arse. 

Edited August 5, 20197 yr by leebwfc
*a football team

If FV/MJ purchase the hotel with PBP's charge being converted into equity in the club and hotel, where does that leave Tom Morris?

Because James is a director of FV but Morris isn't. So, Morris won't receive his 80% of £5.5M charge in cash and neither he nor his company will have any shares in FV (if I've understood it correctly).

Can I just clarify?

We are all in agreement that Ken's an utter c*nt aren't we?

I bloody hope so 

2 minutes ago, Lt. Aldo Raine said:

If FV/MJ purchase the hotel with PBP's charge being converted into equity in the club and hotel, where does that leave Tom Morris?

Because James is a director of FV but Morris isn't. So, Morris won't receive his 80% of £5.5M charge in cash and neither he nor his company will have any shares in FV (if I've understood it correctly).

That's the gist of the rhetorical question I asked myself earlier on today in this thread.

9 minutes ago, Lt. Aldo Raine said:

If FV/MJ purchase the hotel with PBP's charge being converted into equity in the club and hotel, where does that leave Tom Morris?

Because James is a director of FV but Morris isn't. So, Morris won't receive his 80% of £5.5M charge in cash and neither he nor his company will have any shares in FV (if I've understood it correctly).

You’ve answered your own  question.

Debt/equity swap would see pbp as shareholders. Directors and shareholders completely different things. 

Equity is shares so how can they have equity and no shares? Sluffy I expected better if you on this one 

Edited August 5, 20197 yr by Escobarp

2 minutes ago, Duck Egg said:

Can I just clarify?

We are all in agreement that Ken's an utter c*nt aren't we?

I bloody hope so 

Morally probably yes.

Legally probably no.

Put yourself in his shoes - if you had a chance for £3.5m legally, would you 'play' people to get it or just turn your back and walk away - and I think you will get your answer.

 

2 minutes ago, Sluffy said:

Morally probably yes.

Legally probably no.

Put yourself in his shoes - if you had a chance for £3.5m legally, would you 'play' people to get it or just turn your back and walk away - and I think you will get your answer.

 

We're all cunts 😕

3 minutes ago, Escobarp said:

You’ve answered your own  question.

Debt/equity swap would see pbp as shareholders. Directors and shareholders completely different things. 

Equity is shares so how can they have equity and no shares? Sluffy I expected better if you on this one 

Is there any significance in James being a shareholder in FV now but not Morris?

5 minutes ago, Lt. Aldo Raine said:

If FV/MJ purchase the hotel with PBP's charge being converted into equity in the club and hotel, where does that leave Tom Morris?

Because James is a director of FV but Morris isn't. So, Morris won't receive his 80% of £5.5M charge in cash and neither he nor his company will have any shares in FV (if I've understood it correctly).

What If as part of the future expansion of Middlebrook by its owners Emerson that involves a deal to construct multi storey car parks on BWFC existing car parks that sees in return  a Home Bargains store  built on  Middlebrooks existing car parks  - everyone's happy  

5 minutes ago, Lt. Aldo Raine said:

Is there any significance in James being a shareholder in FV now but not Morris?

No. MJ has a tie to the club and is not shy about that.

the current company is a shell. It does nothing currently and owns nothing. Whatever deal is agreed will leave the current structure a thing of the past. Too many folk looking at CH And making wild guesses 

Edited August 5, 20197 yr by Escobarp

Just now, Benny The Ball said:

What If as part of the future expansion of Middlebrook by its owners Emerson that involves a deal to construct multi storey car parks on BWFC existing car parks that sees in return  a Home Bargains store  built on  Middlebrooks existing car parks  - everyone's happy  

Think we both suggested this a couple of hundred pages back, it still makes sense bearing in mind the success of the retail park.

1 minute ago, Benny The Ball said:

What If as part of the future expansion of Middlebrook by its owners Emerson that involves a deal to construct multi storey car parks on BWFC existing car parks that sees in return  a Home Bargains store  built on  Middlebrooks existing car parks  - everyone's happy  

But then you’re talking about writing the debt off Benny not debt/equity and a separate commercial agreement which is very plausible I agree. 

Just now, hughmungus said:

Think we both suggested this a couple of hundred pages back, it still makes sense bearing in mind the success of the retail park.

So recently !! 

I’d take folk with the most money over folk coppering up all day long. If that’s the boo hoo lot then so be it. 

Edited August 5, 20197 yr by Mounts Kipper

3 minutes ago, Mounts Kipper said:

I’d take folk with the most money over folk coppering up all day long. If that’s the boo hoo lot then so be it. 

Depends on their intentions for our club surely ....to them it could mean Jack shit careful what you wish for.

One thing about MJ, we would be getting a fan involved

Doesn't guarantee success but I'd be confident if it went to shit, it wouldn't be deliberate

1 minute ago, Take Hunt Off said:

Depends on their intentions for our club surely ....to them it could mean Jack shit careful what you wish for.

I’d think it’s safe to say that any party interested at this stage are picking over the bones and trying to secure a guaranteed profit out of flipping the assets / property 

The time for a loony billionaire throwing money away was a few months back 

If the trust had owt about them, maybe mj would have been one of their fabled hnw's

If the trust has owt about them they would have come forward with a credible plan 

 

like proper ST’s have done in the past at other clubs in turmoil 

2 minutes ago, birch-chorley said:

I’d think it’s safe to say that any party interested at this stage are picking over the bones and trying to secure a guaranteed profit out of flipping the assets / property 

The time for a loony billionaire throwing money away was a few months back 

In which case, I'd rather we got the one with a supporter on board.

1 minute ago, birch-chorley said:

I’d think it’s safe to say that any party interested at this stage are picking over the bones

If you are including MJ in that, you are wrong

If not, then accept my apologies

Just now, Casino said:

One thing about MJ, we would be getting a fan involved

Doesn't guarantee success but I'd be confident if it went to shit, it wouldn't be deliberate

As I pointed out earlier what Nixon tweeted was 

" its a group backed by the Kamani family " therefore not them directly 

What does that mean ?  For all we know at this point in time it could be Bassini with a new funder 

I'm with you - better the devil you know - folk need to be careful what they wish for