The takeover thingy gone very quiet.

No it's not like that at all, it's just like buying a 2nd hand car. You tell all your mates down the boozer what you're up to and how much etc. Heads of terms, exclusivity, due diligence etc ? Balls to that.

 

Couldn't agree more.

 

All it needs is for Ganaye to release a statement every week or so to Radio Sheff and the Chronicle saying something on the lines of:
'Negotiations are still ongoing in relation to the takeover of the club, the club is expecting these negotiations to be on going for the next ***** weeks

But what do Barnsley fans get ....... nothing, zilch, nought, zero

 

But that would be pointless. We already know negotiations are ongoing. All apart from dragon tyke that is.

 

I have been involved in the sale of multi million pound businesses in respect of some of my clients. I can confirm that by the time the due diligence, the financing methods and the solicitors finalize the contracts, it can be many months before the deal is finally completed.

 

There is absolutley no need for a statement until something concrete happens one way or another. I see fans being impatient for no reason at all, what is happening on the pitch is my main concern , what happens off the pitch will take care of itself & I will form my opinions when something develops otherwise it is back to speculation.

 

Our sale took nearly 3 years from initial discussions with a broker to final exchange of contracts. During that entire time not a single word was said to any staff, distributors, customers and even family members. Doing so would have probably destroyed the entire deal.

 

If you're gonna talk sense can you make sure you do it on a weekly basis via the club website, Radio Sheffield and The Chronicle. Thanks.

 

Hecky's latest interview - "Even if I knew what was happening I WOULDN'T BE ALLOWED TO (talk about it) " - my emphasis.

 

Great point CE. When I lived in Donny, I helped run a Country Music Club with others and also managed a local Band.
I was approached by the Clubland columnist of the local weekly newspaper to see if I would be interested in
writing a weekly column on Country Music in the paper.

I don't know if it's still the case today, but back then to write anything in
the media in those days, you had to be a member of the National Union of Journalists. I was already in a Union and didn't
want to join another and so for four years , I wrote the column using a pen name.

They couldn't pay me , but by way of reward I used to get complimentary tickets to cover the annual Peterborough
Festival of Country Music, or the Annual Festival of Country Music presented by Mervyn Conn at Wembley which also provided me with backstage passes to interview the performers.

It was a real eye opener. Because both events were televised for transmission on TV, the bands/ artists paid the
promoter for the "exposure" and the chance to sell their own merchandise and you were expected to pay for any interviews,
so I opted to restrict my column simply to my perception of the artists performances.

 

Why does GG need to be involved at all?

Isn't this a share sale, i.e PC selling x number of shares in Oakwell Holdings Limited to Chien/Chien's SPV?

There's clearly a deal to be done re Oakwell Community Assets Limited as well but presumably that's also a share sale so again no need for any involvement from employees of the Club.

 

In the late 90's, I was part of a team who did due diligence at a football club to secure a reverse takeover. Prior to doing the work, we were all asked who we supported, what contacts we had in the sector and at the club, and signed a document explicitly stating we wouldn't talk about the work we were doing until the deal was concluded and ratified.

That was just on the external contractor side.

It's also very common in business to sign non disclosure agreements that prevent people talking about a piece of work or a deal or to protect the identity of a buying group or investors.

 

Absolutely correct. I've worked for companies and had involvement where they have been taken over, IPO's etc.. During negotiations, the general rule is a wall of silence for multiple reasons. Confidentiality just one of them. In fact I am involved in one at present.. Can I tell you who it is or anything about it, not a chance.. Anybody who is expecting updates on how things are progressing, it won't happen, end of.... Nothing will be said until any deal is completed, accept it..

 

Dunt say that Dave. I'm hoping it's complete by January transfer window!

 

Which year ?

 

I'm selling my mother's house to fund her care costs. It's a simple transaction. First time buyer, mortgage arranged, vacant possession. I thought it might take a week or two. Three months later the solicitors are still keeping the ball in the air with detail. Imagine what it must be like to tie up a multi-million pound business. Not surprised the takeover is quiet. Wouldn't be out of the way for it to take ages.

 

Out of interest how many football club takeovers, or takeovers of any other businesses have you been involved in ?

 

I haven't been involved in any takeovers.
But what's that got to do with the price of potatoes?

This isn't just any sort of business - this is the sale of a football club that relies totally on thousands of ordinary people supporting that business.
As I've said earlier - it dosent need a detailed announcement - but it does need some sort of announcement just to inform those supporters that the takeover is still live.
I would expect this announcement
AS A MATTER OF COURTESY

 

And if said "update" contributed to the collapse of the deal(due to it breaking a legally binding confidentiality agreement, for example)?

 

I've heard from a mate that it's Barry's biscuit bill that is holding things up. Chien Lee has seen how much we are paying for chocolate hobknobs and is desperately searching oriental confectionery markets to find an adequate replacement. I've heard that we are close to sourcing a large order from Cadbury's Beijing factory, though it might just be a Chinese Wispa.