Isegrim 9762 Posted April 14, 2020 Share Posted April 14, 2020 5 minutes ago, ewerk said: I know what you mean, I was a massive fan of commercial law when it first burst onto the scene but the newer stuff just doesn't do it for me. I just find it totally boring. I hate it having cases involving commercial law as most times the people involved are total cunts and deserve to be prosecuted just for this alone. 2 Link to comment Share on other sites More sharing options...
ewerk 30569 Posted April 14, 2020 Share Posted April 14, 2020 Quote In an exclusive interview with the Gazette, Kieran Maguire of the University of Liverpool revealed what the latest takeover documents lodged at Companies House really mean for talks between Ashley and the Amanda Staveley-led Saudi consortium. Staveley, the Public Investment Fund of Saudi Arabia and a group with connections to the Reuben Brothers are in talks over a deal to buy Newcastle United. And a new document – which was filed on April 8 – got tongues wagging on Tyneside today. If nothing more, it shows that talks have taken place. “If you want to take some positives, this document shows that clearly there is some form of communication between Mike Ashley and Amanda Staveley,” said Maguire. “This document says that St James Holdings is a lender, and Amanda Staveley is in effect the borrower. But if we delve a little deeper, what does it really mean? Maguire believes that while there is much still uncertain, this document could be a sign that Ashley is essentially helping to fund Staveley’s bid to purchase the club. Section 4.14.5 of the charge document shows that St James Holdings is agreeing to loan a sum of at least £150million to Staveley’s company – which could be Ashley’s way of helping to fund a deal. The Sports Direct Tycoon would retain money in the club – although it would be paid back in the future – but would have no voting rights or control over the day-to-day running of the club. This is fairly common practice, as Maguire explains. “The claims are in an amount of £150million, which is an eye-watering sum of money. “Effectively, in the best case scenario this looks to mean that PCP are in takeover talks and that Mike Ashley is lending them £150million to fund the deal. “Let’s say they’ve agreed a price and they can’t afford it in cash, this essentially means that Ashley is somewhat bizarrely lending them the money to buy the football club. “It could be that Ashley is saying that he won’t take all of the money now - similarly to what we saw with Sunderland and Ellis Short – and he retains some form of cash investment in the, but that gives him no power as you need the stake to hold the power. “You could then be left with a scenario, which is similar to what we’ve seen at other clubs, where the original owner still has money in the club but they don’t own the shares so they can’t run it on a daily basis.” “That would be paid back on some basis,” he continued.” “It’s just guesswork, but it’s intriguing.” There have also been claims that the document grants Staveley exclusivity, and Maguire believes this is possible given a £13million deposit looks to have been paid by the purchasing party. “There is talk of a £13million deposit being paid. “That would suggest that some form of deposit has been paid into a bank account, and what the purpose of that is, we don’t know. “But you wouldn’t usually pay a deposit unless you were confident of buying something.” If the Saudis are involved then you'd have to wonder why Ashley is lending them £150m? Could it be an insurance policy against relegation? Link to comment Share on other sites More sharing options...
essembeeofsunderland 811 Posted April 14, 2020 Share Posted April 14, 2020 Check the small print.That’s the only advice I can give. Link to comment Share on other sites More sharing options...
Tom 14011 Posted April 14, 2020 Share Posted April 14, 2020 Thanks mate 3 Link to comment Share on other sites More sharing options...
PaddockLad 17244 Posted April 14, 2020 Share Posted April 14, 2020 4 Link to comment Share on other sites More sharing options...
Howay 12496 Posted April 14, 2020 Share Posted April 14, 2020 1 hour ago, ewerk said: If the Saudis are involved then you'd have to wonder why Ashley is lending them £150m? Could it be an insurance policy against relegation? That’s what my assumption would be as well, wasn’t he “owed” around £144m from the club in the last set of accounts? It could be that he will get that back staggered depending on if certain things are met such as we remain in the PL, and to cover any fall out from HMRC investigation. 1 Link to comment Share on other sites More sharing options...
JawD 99 Posted April 14, 2020 Share Posted April 14, 2020 Aye there will be a strategic reason for this, nothing to do with having funds available. Linking it to the money the club owe MA seems logical, but also read about something to do with Barclays and PCP. Either way, something has progressed. Link to comment Share on other sites More sharing options...
wykikitoon 20117 Posted April 14, 2020 Share Posted April 14, 2020 Why the fuck would someone buy a football club at the moment? Link to comment Share on other sites More sharing options...
Ayatollah Hermione 13862 Posted April 14, 2020 Share Posted April 14, 2020 #ANNOUNCEFURIOUSWANKING Link to comment Share on other sites More sharing options...
Sonatine 11361 Posted April 14, 2020 Share Posted April 14, 2020 2 Link to comment Share on other sites More sharing options...
ewerk 30569 Posted April 14, 2020 Share Posted April 14, 2020 19 minutes ago, wykikitoon said: Why the fuck would someone buy a football club at the moment? If the Saudis are involved then this will all be irrelevant. It’s all largely irrelevant anyway as this is temporary. It is a great time though to buy a club if you’re cash rich. When the next transfer window opens a lot of clubs are going to be skint while we’re swimming in oil. 1 Link to comment Share on other sites More sharing options...
wykikitoon 20117 Posted April 14, 2020 Share Posted April 14, 2020 Still don't believe it Link to comment Share on other sites More sharing options...
Howay 12496 Posted April 14, 2020 Share Posted April 14, 2020 Just now, ewerk said: If the Saudis are involved then this will all be irrelevant. It’s all largely irrelevant anyway as this is temporary. It is a great time though to buy a club if you’re cash rich. When the next transfer window opens a lot of clubs are going to be skint while we’re swimming in oil. In addition FFP has been suspended iirc, I’m not sure if they’ve established a date it will go back into effect. 1 Link to comment Share on other sites More sharing options...
Jimbo 175 Posted April 14, 2020 Share Posted April 14, 2020 Lads..... 2 8 Link to comment Share on other sites More sharing options...
spongebob toonpants 3994 Posted April 14, 2020 Share Posted April 14, 2020 1 minute ago, Jimbo said: Lads..... Holy Shit. Jimbo's telly! 2 Link to comment Share on other sites More sharing options...
wykikitoon 20117 Posted April 14, 2020 Share Posted April 14, 2020 Laptop tbh 1 Link to comment Share on other sites More sharing options...
Jimbo 175 Posted April 14, 2020 Share Posted April 14, 2020 1 minute ago, wykikitoon said: Laptop tbh It’s the best I can do during these challenging times.... 3 Link to comment Share on other sites More sharing options...
wykikitoon 20117 Posted April 14, 2020 Share Posted April 14, 2020 Hope you're well mate. HOLY SHEET! It's just been on Sky News! Link to comment Share on other sites More sharing options...
wykikitoon 20117 Posted April 14, 2020 Share Posted April 14, 2020 FFS they've just fucking spoilt it by putting that fucking charade at Downing Street. Link to comment Share on other sites More sharing options...
Rayvin 5217 Posted April 14, 2020 Share Posted April 14, 2020 Is this actually happening? Where's @247? He shoots it down every time it comes up. Link to comment Share on other sites More sharing options...
wykikitoon 20117 Posted April 14, 2020 Share Posted April 14, 2020 Link to comment Share on other sites More sharing options...
TheGingerQuiff 2412 Posted April 14, 2020 Share Posted April 14, 2020 He's deliberately selling now when euphoria is faux pas. 1 Link to comment Share on other sites More sharing options...
Greg 6 Posted April 14, 2020 Share Posted April 14, 2020 15 minutes ago, Jimbo said: Lads..... If it's on Jimbo's telly it IS HAPPENING!!!!!!! Jesus this place has changed, all the buttons are in different places and everything. 6 Link to comment Share on other sites More sharing options...
spongebob toonpants 3994 Posted April 14, 2020 Share Posted April 14, 2020 (edited) 13 minutes ago, wykikitoon said: Laptop tbh Ah bollox, I knew it was too good to be true Edited April 14, 2020 by spongebob toonpants 2 Link to comment Share on other sites More sharing options...
Howay 12496 Posted April 14, 2020 Share Posted April 14, 2020 (edited) 27 minutes ago, TheGingerQuiff said: He's deliberately selling now when euphoria is faux pas. Aye was going to say, I understand people thinking it’s an odd time to purchase but it is absolutely the Ashley time to sell as we can’t celebrate properly. Edited April 14, 2020 by Howay 1 Link to comment Share on other sites More sharing options...
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