KV Oostende

KV Oostende fans had been hopeful that the side would be saved by a takeover by a group known as Apex headed by Mark Campbell. However, the clubs administrator has revealed that the proposed takeover has fallen through. This, he has said, is because current majority shareholder Paul Conway of Pacific Media Group (PMG) would not give up his shares in the club. Conway and his PMG have been involved in a number of other clubs such as Nancy and Barnsley.
The club now looks set to be declared bankrupt and cease to exist, with a debt of around €10m and the need to provide the Belgian licensing committee proof of funds fast approaching. Despite points deductions due to financial mismanagement by PMG, the players still managed to somehow avoid relegation from the Belgian second tier. However, this seems to have all been for nothing after todays news.

SORRY IF ALREADY POSTED

 

Well thank goodness PMG is being pushed out here. Whatever people think about the current board, they got this lot out.

 

So Conman would rather a club would go bust than sell his shares. That doesn't tell us anything we didn't already know about the kind of person he is.

 

Does Conway own any shares or is he just “representing” people again?
Feel for the Oostenders.

 

Thankful he didn’t have more direct shares here.

If all the shares he previously controlled/was the proxy for were his, We’d be in the same situation here

 

doof doof doof doof doof doof doof....

 

Surely PMG is him and Grace and they still have shares in Barnsly.

 

Yes but not enough for any control and they keep getting diluted every time there’s a round of fundraising along with Chien Lee as they’re not putting in more cash

 

a small percentage holding, managed down by the current board to a fraction of what he started with.

 

I understand all that, but it looks like the Oostend issue is the consortium need all t h e shares to complete the deal. Same could happen here if the deal hinged on a 100% buy out.

 

I think the way the club is structured it would be different. Barnsley Football Club Limited is owned 100% by Bfc Investment Company Ltd (the Hong Kong company). The board of Bfc Investment Company Ltd (which I believe Lee and Conway are no longer part of) could choose to sell their shares in the club.

 

No idea if true, but if JAQ and Nareev get continued abuse no matter what, this would be a real concern of mine.

 

What use are shares if the clubs gone kaput?

 

When are the European football authorities going to outlaw this lot. they appear to be hopping from one place to the next basically devastating club after club. It's now obvious they have no intention of developing the clubs they get their hands on but instead run them to the brink of ruin..only thing ya could never work out is what they get out of it..

 

A buyout can be forced through if enough shares are purchased, not sure what the figure is though.
Oostend was because he was the majority shareholder according to the OP.

 

When fans stop welcoming them with open arms.

 

Conman is akin to Cancer in football.Everything that slimy tubby fcuker lays his sweaty hands on he infects and it withers and perishes. He needs ragging down a dark alley and having seven shades shiiite braying out of him..............sithi.

 

Good point. but their reputation surely must be proceeding them by now..think I read they'd tried other English league clubs before they got their hooks in us but got the flick.

 

If an administrator has been appointed there is by the very appointment zero equity value. The determination of the future is determined by the administrator in the best interests of the creditors.

 

I’m not talking about them exclusively though mate, and it’s more of a nod to fans in general,