Chinese Takeover

Compared to some of the guff I've read in there in the past, there doesn't seem to be much in terms of the green eyed monster. One of the first few posters points out that our own opinion is split, and I'd say most of their fans also seem torn too. It's good to get someone else's opinion and seen as though only a handful of clubs in the top 2 tiers aren't owned by mega rich billionaires these days, there's few opinions we can gather regarding it.

 

As you say, any model can be disastrous, investor or fan based. Likewise either can be extremely successful. All down to good management. The Germans are more advanced than us in this regard but we are starting to see a bit of a movement towards it here.
Wouldn't it be great if we were at the vanguard of that movement?

 

Ok. I'll agree with your suggestion. Just got to get Chien Lee and his partners to take an 80% stake in the club financially but only get 49 % voting rights and then we are sorted!!

 

Radio Sheffield reporting on this in 5 minutes.

 

Nothing new.

 

Can't listen to it with all the Blades that will be ringing in, gloating. Sit back and see what happens now, Radio Sheff will be none the wiser. Patrick's done brilliantly keeping this under wraps, even after that photo of his phone was leaked

 

I've broken my habit of not listening to Football Heaven just to hear what they've got to say on the subject. So far I'm sorely tempted to turn off. What a load of old *****.

 

Three weeks according to this

http://www.insideworldfootball.com/2017/08/22/barnsley-look-poised-hook-ogc-nices-chinese-owners/

 

All very interesting reading.

Personally, that negotiations have been going on supposedly for 6 months, i feel it's likely a done deal. Negotiations don't go on so long unless both parties are pretty much in the same arena and key sticking points are most likely to be overcome. The buying party will have done its due diligence and be aware of the structure, finances and future income and outgoings.

The thing for me is intent. A buying group has a reason for a purchase. Patrick has propped the club up for years and saved it when others wouldn't or couldn't. A selfless act that will likely have cost him more money than he's recouped.

A new owner, would they do that? Just keep the club going through obligation and responsibility?

If the intent is to make a "return" on investment (i'd expect very few actually do that), what happens if they fail to win promotion? If they need to generate higher sales, how do people feel about increased pricing (i'm sure due diligence would have flagged our insanely cheap championship season ticket prices), about Chinese shirt and stand sponsorship? But those things would only increase sales nominally, the main way of generating more income is promotion. There are however 15-20 other teams all with parachute payments or foreign owners throwing a good chunk of cash at things.

FFP allows a £39m write off over 3 years, and I thought they were reviewing sponsor deals to stop the over inflated payments Man City were trying to get around the rules.

The club will naturally have to have new owners soon enough. The greatest likelihood I can see is increased costs, higher wages, moderate increase of sales and losses wracking up more swiftly than what they do at present. I'm not sure what legacy that will allow, how the fanbase will feel about it, or if that's in the best interests of the club.

In 10 years time I expect we'll have either been back to the Premier league or we'll not exist in our current form.

 

If the article is correct about 3 weeks to the sale being compleated, then i would say, there goes the chance this window to get the experienced player in, the experience that this young side need....cant see PC splashing the cash if hes selling the club .would you...

 

Their board read like this one did before any takeover talk was mentioned.

If it happens and they invest "a modest amount" (as reported they might) and we don't get any level of 'success' for that money (as is quite possible - see the majority of clubs who have people throwing cash at promotion) then Ill give this board half a season before it's full of complaints that the takeover was a bad idea and that they're skimming money off the club (maybe whilst increasing season ticket prices) and 'not putting enough in to get the players we want in order to win promotion'.

I should add that the devil is of course in the detail of the sale. I'd hope PC puts in some protections about the terms and conditions and any ongoing sale etc. Although quite how that might work out is another question.

 

I suspect the interest in the club is ironically because of its success in turning over a profit, winning promotion and doing so with minimal outlay. This makes it a model that an investment firm would love because the financial returns (Yuk) are much better for them. Indeed, why invest in a big club ploughing masses of money in and lose money, when you could (theoretically) invest far less and make more?

 

First page of the article by Sophie He from June 2016 appeared as a précis as part of earlier posting from Gordon Owen regarding the Lee/Conway take over of OGC Nice. First time I've seen a biopic on Mr Lee which appears on the second page of the article ( click the link at the bottom of first page.) Sincerely hope that Barnsley FC comes under his heading of "long term plan."


http://www.chinadailyasia.com/leaders/2016-06/27/content_15454598.html

 

From the article,

aka a carpetbagger, or a thoroughly detestable ****.

 

We lost £1 million in getting promoted

 

True, but that's missing the broader picture IMO in that we signed young players who got us promoted into the Championship where they played well and were then sold on for a larger profit. Then there's Stones/Holgate.......The £1m is in the grand scheme of things neither here nor there to a man of his wealth. imo.

 

Until I see proper accounts, I refuse to believe that a club who had two Wembley appearances and had 4th or 5th highest gates in the Division lost a million whilst little old Burton turned in a profit on gates of 3,000. Strikes me that we'll never know the full picture.

 

Well, the only accounts you're ever likely to see are those on Companies House.

Don't suggest that those accounts aren't accurate either - @Red Rain will have you!

 

You get to the Companies House info for Barnsley football Club (2002) Ltd by using the following address ( https://beta.companieshouse.gov.uk/company/04573250/filing-history ). Click on Full Accounts made up to 31 May 2016.

 

Lee/ Conway don't seem to be concerned at the current financial status of their intended "target".
When they were in talks to take a 50% stake in Brentford they had a £7 million debt.

That stake was apparently valued at £30 million. The current owner of Brentford has
put £90 million into the Club and has plans to build a brand new Stadium.

Be very interested to know why the proposed take overs of Brentford, Middlesbrough and Hull
City fell through and what's the appeal behind them buying an 80% stake in Barnsley.