Club been sold for a pound?

Got to trust PC. He'll do what he sees is best for the future of the club.

My hope is we don't change things too radically. Would be nice to have a plan re the stadium, particularly the West Stand & also
security in the away end, that that could be restored to full capacity (not sure how that may be achieved, but there must be a way).
I hope we don't move away from Oakwell though.

Would also be good to have a plan to reward high performing players (the likes of the Roberts / Hourihane's of the future), with improved long term contracts, which would mean either we can keep them longer / or receive higher sell on fees.

 

As posted, its a reclassification of shares. Doesn't seem to be any additional capitalisation, so the assumption I would have is that shares will be allocated to multiple individuals/companies in future.

Until I know what the deal entails, what any new owners intentions are and most importantly, where any money is coming from, i'm neutral on whats happening.

Just to outline though, if we suddenly start to spend more money, that either creates debt that somehow has to be serviced, either through loan, or by owners guarantee (as Patrick has done), or, we have to generate considerable revenue to match that new expenditure. As there seems very little appetite from supporters to want to pay higher ticket prices, I'm sure not what immediate avenues for additional revenue are available short term.

I just hope its not a gamble on the premiership that wracks up sizeable debt in the process.

 

I honestly don't think we should get ahead of ourselves here. Remember the original statement " not going to throw millions
at it but could fund a tilt at promotion." If the deal goes ahead and given Patrick Crynes unfortunate illness as JC has already said,some kind of deal with a new owner was inevitable at some point going forward anyway, so it's best if he is involved
in the selection process so that his wishes are fulfilled.

What appears to have happened here is that the share capital has undergone a "split" where more shares of a smaller
nominal value have been created. Some time ago there was a legal test case involving a major German bank and Hammersmith and Fulham Council involving "splits" and hedging, where through insider knowledge it was alleged that
some form of malpractice had taken place. The eventual ruling was that it was illegal for a Local Authority to become involved
in " splits". We don't know what's involved in this particular transfer, but PC and BMBC's legal advisors will have probably been
involved to make sure "everyone " is staying on the right side of the laws of the land.

Given the "evidence" if authentic, it looks very likely that an announcement could well be imminent.

 

When the east stand was built was planning consent sought gor the whole stadium. Which we all knew would be built in phases

 

It's legit, I've checked with Companies House.

 

That's what I thought as well..... The beginning of a new era!

 

Just type in the company number into Google and look at the various BFC company records. Makes for interesting, if irrelevant, reading.

 

There's no planning application ever been submitted for the West Stand, as far as I can see all planning applications were done individually.

Interestingly an application to hold car boot sales was put in a few years ago but was rejected.

 

I won't get excited until their is information regarding the sale of the shares in the company the owns the ground and associated land.

 

more smoke and mirrors

 

"Resolutions of varying share rights or name" and "resolution of adoption of articles of association" available in 5 days. They could name the new directors. Would also make sense to dilute shares at same time as passing that through.

 

Shares to be placed under 1,000 random seats on Saturday. Patrick's giving the club back

 

There's no guarantee of anything with new owners - manager, ground or future ownership. They won't have any sense of loyalty, sentiment or tradition towards anyone or anything. Their plan could be to sell on after 3 or 5 years for all we know and there wouldn't necessarily be the same care and diligence taken in who they sold to, as PC is doing. Don't forget they've only been involved with Nice for just over a year.

 

You honestly think the club would split its share capital as smoke and mirrors?

Something is definitely happening whether you believe so or not.

 

Suppose with the information that has come out about the possible investment, it makes sense that this was done to facilitate it.

Playing devils advocate for a second though, for all we know, this could have been done to allow him to "leave" parts of the club to multiple benefactors should the worse occur. Obviously I'm praying it's the first option and Mr Cryne has many years left in front of him...

 

Not remotely. Someone who knows what he's talking about told me this is all absolutely standard practice in such situations.

 

well the club do read this board, within this thread is this alleged form. Also someone is saying they have checked it at companies house. Given all that then why are the club STILL being tight lipped about .

 

There is smoke coming out of my ears. Should I be worried?

 

I've always thought gagging orders and media blackouts were par for the course when takeovers and share sales of privately owned companies are concerned as it protects both the buyer from rival bids, and the seller's privacy.

Now if we were a PLC and had many shareholders, then fair enough, the club would need to be completely transparent as it in the shareholders interests. But being privately owned they have no legal prerogative to tell us anything...