Hecky ....... and potential new owners

Discussion in 'Bulletin Board' started by Young Nudger, Nov 11, 2017.

  1. Young Nudger

    Young Nudger Well-Known Member

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    I don't think the Chien Lee deal to buy the club is as nailed on as what people might think. If it was a matter of just getting the deal sorted by the solicitors then:

    1) why didn't the new owners release a bit of money to bring in one or two quality players to reduce the risk of relegation?
    2) why didn't the new owners ensure all the same management team was still intact by the time they took over?

    So as I said - on the face of it this deal dosent seem so secure.
     
  2. Bar

    BarnsleyReds Well-Known Member

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    You'd have to have fewer brain cells than a glass of water to put money into a business before officially taking over.

    The management team IS still in place...
     
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  3. fit

    fitzytyke2 Well-Known Member

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    I think a takeover is "nailed on" at some point. Wouldn't say this one was. I'm more hopeful than certain.

    I'm not sure on the legalities of a potential buyer investing funds before purchase, or how it might affect any deal.

    Would it go against the FFP rules?
     
  4. RedKestrel

    RedKestrel Active Member

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    I doubt that therell be a takeovva .. theyd have sorted it binnar
     
  5. jedi one

    jedi one Well-Known Member

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    i think the hold up would be on the councils part and their involvement in the ownership of certain bits
     
  6. RedKestrel

    RedKestrel Active Member

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    Hopefully they'll bring in some quality frenchbased players afoorlong ...
     
  7. twi

    twillo Well-Known Member

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    It's happening.

    It's Cryne that has the problem with something and not the new owners.
     
  8. Young Nudger

    Young Nudger Well-Known Member

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    But if it's more or less signed and sealed - then because of the fluctuating nature of football - you would think the new owners would try to ensure that the business they finally purchased was the same or nearly the same as the business they initially set out to purchase.

    Remember this - relegation or the loss of Hecky would ultimately cost the new owners £££millions.
     
  9. Red

    Red CB Well-Known Member

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    I didn" t realise the transfer window had reopened , there was me thinking it was january , thankyou YN for putting me right
     
  10. Mapplewell Red

    Mapplewell Red Active Member

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    If you were proposing to buy a house and everything seemed fine, would you shell out money to replace the bathroom and kitchen before you exchanged contracts?
     
  11. RedKestrel

    RedKestrel Active Member

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    What's that ?
     
  12. twi

    twillo Well-Known Member

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    Nothing major
     
  13. Young Nudger

    Young Nudger Well-Known Member

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    When I first bought a house - the building society insisted that I obtained an electrical certificate and replaced 2 windows before they gave me a mortgage.
     
  14. Mapplewell Red

    Mapplewell Red Active Member

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    They're compliance issues and are a matter of negotiation between the buyer and seller. You wouldn't spend a fortune changing the bathroom, kitchen or whatever else whilst it was still subject to contract though, otherwise you have no remedy should the other party withdraw. I've seen commercial/corporate deals being nailed on only to collapse on the day of completion.
     
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  15. Young Nudger

    Young Nudger Well-Known Member

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    What the building society wanted - was that the property was secure before giving me a mortgage.
    So in effect I spent money on a property that I didn't actually own.
    This is not happening at Barnsley - so it could be an indication that the deal has still someway to go.
    According to Hecky - only contact he has had with Chien Lee is that they have said hello while passing.
    That's not enough IMO to keep Hecky at the club.
     
  16. Sim

    Simon De Montforte Well-Known Member

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    How can they spend money when the transfer window is closed?
     
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  17. Red

    Red CB Well-Known Member

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    Why do you keep adding 2 plus 2 & coming up with 6, how do you know what will keep Hecky at the club ?, I did not realise he wanted away . It might be prudent to exercise patience & stop speculating what might or might not happen
     
  18. JackTatty

    JackTatty Well-Known Member

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  19. Mapplewell Red

    Mapplewell Red Active Member

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    No, the lender will require confirmation from your solicitor that the property is compliant and has all necessary certificates, as you eluded to above. In that scenario you have a few options. You can either pay for the works yourself in order to satisfy your lender, put pressure on the seller to procure the same or alternatively withdraw. You could always procure indemnity insurance in the absence of carrying out the said works, mind.

    It sounds like you had awful legal advice if you paid to replace the windows yourself prior to exchange of contracts.
     
  20. ors

    orsenkaht Well-Known Member

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    [QUOTE

    Remember this - relegation or the loss of Hecky would ultimately cost the new owners £££millions.[/QUOTE]

    We are 7 points off the relegation places and 7 points off the playoff places, so WTF?
     

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