vaughan
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Post by vaughan on Nov 19, 2018 14:02:07 GMT
What I did hear was that it was DS who were taking the mickey with their valuation of the Club. Ridiculous value given the level of outstanding debt, equity in ground and that we are loss-making.
Wael wants to stay on, but DS may have to compromise on price the longer it goes on and debts increase.
There is obviously something going on as Wael would have dispelled any rumours,surely, if it was pure fiction?
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eppinggas
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Post by eppinggas on Nov 19, 2018 14:29:11 GMT
What I did hear was that it was DS who were taking the mickey with their valuation of the Club. Ridiculous value given the level of outstanding debt, equity in ground and that we are loss-making. Wael wants to stay on, but DS may have to compromise on price the longer it goes on and debts increase. There is obviously something going on as Wael would have dispelled any rumours,surely, if it was pure fiction? I guess as Bankers the minimum they would want is to get out flat. ie the £8mil (or whatever it was they bought BRFC for) + £5mil (or whatever debt they have piled on) = approx. £13mil? I wouldn't blame them for slapping on a bigger price tag and trying their luck... after all they're in it for money, not love. But ultimately - they bought a dog, and a dog with fleas (to paraphrase Mr Gecko) and there won't be a long queue of potential buyers. Every day that passes makes the Club more expensive and less attractive to buyers. I don't see a potential buyer wanting Wael staying on. Just like when Dwane Sports decided not to invite Nick Higgs to remain on the Board. Anchors away!
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vaughan
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Post by vaughan on Nov 19, 2018 14:38:46 GMT
I don't think that there will be a long queue of buyers if it has been priced at £25 million.
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Post by swissgas on Nov 19, 2018 14:45:48 GMT
Surely Dwane Sports are in an impregnable position, they cannot lose can they ?
At a time of their choosing they can sell the land to a developer and recoup all of their loan plus a profit on top.
According to the information we were given at the outset Dwane Sports is owned equally by four members of the Al-Qadi family so three of them can outvote Wael and proceed with the deal.
Past history suggests the football club would then be handed free gratis to some of our worthy and wealthy fans who would work in conjunction with the Supporters Club and Presidents Club to find a new home and a way of keeping us afloat financially.
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vaughan
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Post by vaughan on Nov 19, 2018 15:02:13 GMT
Thanks Swiss for that Doomsday scenario.
The best defence against that is the reputational damage to Wael.
Some will scoff, but it is real. He maybe a fantasist, but he wants to do the right things as a genuine English football enthusiast. He has to find some backers and quick if he wishes to remain.
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eppinggas
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Post by eppinggas on Nov 19, 2018 15:23:02 GMT
Surely Dwane Sports are in an impregnable position, they cannot lose can they ? At a time of their choosing they can sell the land to a developer and recoup all of their loan plus a profit on top. According to the information we were given at the outset Dwane Sports is owned equally by four members of the Al-Qadi family so three of them can outvote Wael and proceed with the deal. Past history suggests the football club would then be handed free gratis to some of our worthy and wealthy fans who would work in conjunction with the Supporters Club and Presidents Club to find a new home and a way of keeping us afloat financially. I believe The Mem. was last valued at £18mil as a potential residential site (can't remember where I read that). If,as Vaughan suggests, they want £25mil, then they are have a f******g laugh.
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Peter Parker
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Post by Peter Parker on Nov 19, 2018 15:30:11 GMT
Surely Dwane Sports are in an impregnable position, they cannot lose can they ? At a time of their choosing they can sell the land to a developer and recoup all of their loan plus a profit on top. According to the information we were given at the outset Dwane Sports is owned equally by four members of the Al-Qadi family so three of them can outvote Wael and proceed with the deal. Past history suggests the football club would then be handed free gratis to some of our worthy and wealthy fans who would work in conjunction with the Supporters Club and Presidents Club to find a new home and a way of keeping us afloat financially. I believe The Mem. was last valued at £18mil as a potential residential site (can't remember where I read that). If,as Vaughan suggests, they want £25mil, then they are have a f******g laugh.
Would that be factoring in The colony land and the potential for development on some of that site?
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Deleted
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Post by Deleted on Nov 19, 2018 15:54:30 GMT
Surely Dwane Sports are in an impregnable position, they cannot lose can they ? At a time of their choosing they can sell the land to a developer and recoup all of their loan plus a profit on top. According to the information we were given at the outset Dwane Sports is owned equally by four members of the Al-Qadi family so three of them can outvote Wael and proceed with the deal. Past history suggests the football club would then be handed free gratis to some of our worthy and wealthy fans who would work in conjunction with the Supporters Club and Presidents Club to find a new home and a way of keeping us afloat financially. I believe The Mem. was last valued at £18mil as a potential residential site (can't remember where I read that). If,as Vaughan suggests, they want £25mil, then they are have a f******g laugh. Which is why it's dangerous to repeat everything you hear. In one breath certain posters want us to believe that we are moments away from a takeover, in the next it's that the price was, broadly, the value of the asset plus clearing the internal debt, which of course, set against a loss making company, was never ever in a million years going to happen. Of course, you can suggest that it's viable as a new stadium makes the clearing debt manageable, but if that's the case then these owners would be building it, not handing the potential over, this is exactly what they came here to do.
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kingswood Polak
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Post by kingswood Polak on Nov 19, 2018 15:55:27 GMT
Oldie? Vaughan? KP? Any updates from your contacts? Let's keep the anchored thread going... Quite simply no. If I hear anything else I would post it. As I said, the UWE people outright refuse to deal with the owners and due to lack of professionalism. I have no more to add at all. As I’ve said before, I post this but too am skeptical about anything that is rumoured to be happening. What bothers me most is we seem to have had a fair few of our fans die and I’m also not taking anything for granted. I’d like to see those older than me at least see better
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vaughan
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Post by vaughan on Nov 19, 2018 16:08:18 GMT
I went in West Enclosure on Sat. When floodlights were on, it could have been 1982 at Eastville, given the state of the ground.
Basic! Hard to justify why so little has been spent.
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Post by a more piratey game on Nov 19, 2018 16:24:56 GMT
so there seem to me to be 2 main rumours....
the football side of the deal has been agreed. Which might or might not mean that Wael stays on. The hold-up is about UWE/an alternative
the football side of the deal is still held up as they haggle over price. Meanwhile the ground options are still being looked at
I suppose it could also be some sort of combination of the two. Which is where we were at the start, I think
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Post by swissgas on Nov 19, 2018 16:27:01 GMT
I went in West Enclosure on Sat. When floodlights were on, it could have been 1982 at Eastville, given the state of the ground. Basic! Hard to justify why so little has been spent. It was around that time when someone described Eastville Stadium as a "broken down builders yard" and I can remember how the comment hurt me because, despite everything, it was impossible then to escape the sense of pride you felt about your club and your stadium especially when only a few years before the place had been rocking with 20 000+ crowds and a wonderfully charged atmosphere. Now, unfortunately, Rovers have a different type of charge hanging over the ground.
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Post by a more piratey game on Nov 19, 2018 16:27:12 GMT
What I did hear was that it was DS who were taking the mickey with their valuation of the Club that's broadly what swiss suggested a while back I think (though he didn't mention the mickey)
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Post by a more piratey game on Nov 19, 2018 16:29:00 GMT
At a time of their choosing they can sell the land to a developer and recoup all of their loan plus a profit on top. you are thinking that this might be the real reason for taking the charge in the first place I take it
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eppinggas
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Post by eppinggas on Nov 19, 2018 16:30:12 GMT
I believe The Mem. was last valued at £18mil as a potential residential site (can't remember where I read that). If,as Vaughan suggests, they want £25mil, then they are have a f******g laugh. Would that be factoring in The colony land and the potential for development on some of that site?
The Colony is owned by Dwane Sports and they paid £2mil for it. A price tag of £25mil with the Colony thrown in for good measure... is still IMHO totally unrealistic.
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TaiwanGas
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Post by TaiwanGas on Nov 19, 2018 16:38:39 GMT
Surely Dwane Sports are in an impregnable position, they cannot lose can they ? At a time of their choosing they can sell the land to a developer and recoup all of their loan plus a profit on top. According to the information we were given at the outset Dwane Sports is owned equally by four members of the Al-Qadi family so three of them can outvote Wael and proceed with the deal. Past history suggests the football club would then be handed free gratis to some of our worthy and wealthy fans who would work in conjunction with the Supporters Club and Presidents Club to find a new home and a way of keeping us afloat financially. Completely agree, the Mem & Colony sold off to Developers, this is what I am sadly expecting.
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Peter Parker
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Post by Peter Parker on Nov 19, 2018 17:00:52 GMT
Would that be factoring in The colony land and the potential for development on some of that site?
The Colony is owned by Dwane Sports and they paid £2mil for it. A price tag of £25mil with the Colony thrown in for good measure... is still IMHO totally unrealistic. it might be unrealistic, just wondering whether any sale by The Al-Qadi's is factoring in 29 acres of land at The Colony site especially if it is Southampton, Hampshire, Liverpool, Reading, Isle of Man Builders who are apparently buying us this week
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Post by swissgas on Nov 19, 2018 17:05:53 GMT
At a time of their choosing they can sell the land to a developer and recoup all of their loan plus a profit on top. you are thinking that this might be the real reason for taking the charge in the first place I take it On reflection I think the specific reason for the charge was that the original deal left £930 000 still owing to two former shareholders and in the aftermath of the take over Dwane soon realized the position they were in and indicated that the £930 000 may not be repaid. But they were probably advised that if a successful action was taken to force repayment the plaintiffs could obtain a charge over the Mem to secure what they were owed. And so they made a preemptive strike by placing their own first charge over the Mem. In the end common sense prevailed and a "proportionate amount" of £722 000 was paid to the former shareholders as shown in the June 2017 accounts.
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eppinggas
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Post by eppinggas on Nov 19, 2018 18:01:41 GMT
The Colony is owned by Dwane Sports and they paid £2mil for it. A price tag of £25mil with the Colony thrown in for good measure... is still IMHO totally unrealistic. it might be unrealistic, just wondering whether any sale by The Al-Qadi's is factoring in 29 acres of land at The Colony site especially if it is Southampton, Hampshire, Liverpool, Reading, Isle of Man Builders who are apparently buying us this week Maybe it's a competitive bid situation between all these potential buyers :-) Land that goes from agricultural use to future residential development in the green belt... increase in value goes from roughly £10,000 an acre to £1,000,000 an acre. So if you know which Local Councillors / Planners to "persuade" - that's a lorra lorra cash. Thank goodness there aren't any bent Local Councillors.
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Post by a more piratey game on Nov 19, 2018 18:02:17 GMT
you are thinking that this might be the real reason for taking the charge in the first place I take it On reflection I think the specific reason for the charge was that the original deal left £930 000 still owing to two former shareholders and in the aftermath of the take over Dwane soon realized the position they were in and indicated that the £930 000 may not be repaid. But they were probably advised that if a successful action was taken to force repayment the plaintiffs could obtain a charge over the Mem to secure what they were owed. And so they made a preemptive strike by placing their own first charge over the Mem. In the end common sense prevailed and a "proportionate amount" of £722 000 was paid to the former shareholders as shown in the June 2017 accounts. do you know why the discount swiss - surely not a sign of things not being what they were told they were?
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