Yes Nixon asserts that Christo’s company is taking mortgages out against three properties in order to raise money. Whether that’s true or not and if it is ...are the three properties you mention the ones in question..don’t know?
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Yes Nixon asserts that Christo’s company is taking mortgages out against three properties in order to raise money. Whether that’s true or not and if it is ...are the three properties you mention the ones in question..don’t know?
OnLoanfromEnfield
Vital 1st Team Regular
Darina Zmitrovich who was a witness on the forms, has something to do with
with a Chinese Formula-E team (no idea what that is) DS TECHEETAH
Edit: Forumula - E Team = electric street racing
with a Chinese Formula-E team (no idea what that is) DS TECHEETAH
Edit: Forumula - E Team = electric street racing
Mighty Bongsmon
Vital Squad Member
The fact that she seems to believe the line coming from the EFL that they’ll not let any team fail due to covid shows how little she understands the people that she’s dealing with
Made in Wigan
Vital Champions League
To be fair MiW, Neither the SC nor JJ have spoken out against the Spanish bid. The SC simply said that their (our) potential contribution shouldn't be used as proof of having the funds available, and (as far as I'm aware) JJ has said nothing ..... publicly at least.
That said, I grant you, they haven't come out with anything that would specifically pin their support to it either.
All this stuff about wanting to see bank statements from Cristo, you've got to ask why the hell the EFL haven't asked for this before. If we're to believe reports, this is about the 3rd or 4th request for additional info ............................. surely the subject of bank statements (presumably as proof of the source of funds) would have been tabled before now.
Yeah I should have said they haven’t come out endorsing it. Perhaps being diplomatic I grant you, but that itself speaks volumes. Given our predicament if they thought they were going to be a good fit us they’d have been putting pressure on the efl and campaigning publicly on their behalf.
Made in Wigan
Vital Champions League
Nixon worded his tweets that led the reader to the assumption that they were being mortgaged to finance a deal for us. May well be the case, but equally could be unrelated. If the former then I think we can guess where that debt would ultimately be moved to.
jocklatic
Vital 1st Team Regular
All these little snippets / nuggets of information don't sound too good....talk of 1 potential investor being asked for a million£, some investors allegedly re mortgaging properties to raise capital, alleged investors only worth £8 million.....whether some or all are true it certainly doesn't fill me with any confidence that ANY of the so called potential buyers have a sufficient amount of cash to sustain us.....very worrying times indeed what with not knowing where we are up to, are there any suitable potential owners, who is / isn't genuine, when will we know where we stand & most importantly will we still have a club at the end of the year!!!!!!
jeffs right
Vital Football Hero
Listening to Nob End fans whine on about Trevor Hemmngs is unbelievable.
Wish Hemmings would stick two fingers up at the ungrateful Nob Ender's and switch allegiances.
A fraction of what he spends on that shower of shite would keep us bobbing along nicely.
Wish Hemmings would stick two fingers up at the ungrateful Nob Ender's and switch allegiances.
A fraction of what he spends on that shower of shite would keep us bobbing along nicely.
king_dezeeuw06
Vital Champions League
Nixon has been saying EFL have been focused on the 'source of funds' multiple times throughout the process, as all the other details have changed over time Nixon continued to mention it as if it's a question that has yet to be answered to the EFL's satisfaction.
The fact the EFL were happy to pass Moreno suggest it's not the EFL on the go slow, it's most likely Cristo being unable to give them the evidence they need to alleviate their concerns. To be fair after what just happened with Yeung I'm not upset with them being more stringent but i wish if they weren't happy they'd have told him 'no' before now rather than kicking the can down the road to try and force admin to make the decision they didn't want to make.
It sound's like Cristo and his brother will be the main 2 people with Moreno having a large number of shares too. But if the Cristo's are the main men they will likely be the ones funding the lions share and if their accounts show they only have 8.5m (to run both their other business and Latics) i don't think is going to be anywhere near enough to sustain the annual loses he will have to suffer in at the short to medium term, plus 5m for the academy and the rebuilding of the squad, etc. If those figures are accurate, how little he is worth very concerning, 8.5m is absolutely nothing to be sniffed at but it's not football type money, when we are likely to lose at least 5m in the next 2 years alone - even if Moreno covered half of those loses it would be a huge chunk of his net worth. It immediately makes me fear we'd possibly end up in a situation like Choi / Yeung did where the cost of buying the club and money spent would be transferred back onto the club so they can avoid taking the hit - that is a threat with any owner but it seems more likely the less money the owner has.
If it's true that Royle / Ronsom / Roland have officially put a bid in this last couple of days and are serious then surely admin shouldn't extend exclusivity again for the Spanish. If they were the only bidders then fair enough you keep ploughing on with them, but they've had 2 extensions and a month extra to provide the proof / assurances the EFL want - if they haven't been able to do it by now are they realistically going to do it in the next week? So if there is a viable alternative then i think admin have to seriously consider opening the door to that, as if we keep waiting on the Spanish only for it to collapse in another month or so we will miss the January window trying to get the next bidders over the line and then be certain for L2 and trying to find a buyer will be even harder. I've heard letting other bidders in is a risk, but it appears extending the Spanish exclusivity is becoming a risk in itself - the Spanish have until Friday to get the deal over the line - if they can't do it by then i suspect they wont ever do it and we need to immediately move on if the alternative is poised and good to go.
The fact the EFL were happy to pass Moreno suggest it's not the EFL on the go slow, it's most likely Cristo being unable to give them the evidence they need to alleviate their concerns. To be fair after what just happened with Yeung I'm not upset with them being more stringent but i wish if they weren't happy they'd have told him 'no' before now rather than kicking the can down the road to try and force admin to make the decision they didn't want to make.
It sound's like Cristo and his brother will be the main 2 people with Moreno having a large number of shares too. But if the Cristo's are the main men they will likely be the ones funding the lions share and if their accounts show they only have 8.5m (to run both their other business and Latics) i don't think is going to be anywhere near enough to sustain the annual loses he will have to suffer in at the short to medium term, plus 5m for the academy and the rebuilding of the squad, etc. If those figures are accurate, how little he is worth very concerning, 8.5m is absolutely nothing to be sniffed at but it's not football type money, when we are likely to lose at least 5m in the next 2 years alone - even if Moreno covered half of those loses it would be a huge chunk of his net worth. It immediately makes me fear we'd possibly end up in a situation like Choi / Yeung did where the cost of buying the club and money spent would be transferred back onto the club so they can avoid taking the hit - that is a threat with any owner but it seems more likely the less money the owner has.
If it's true that Royle / Ronsom / Roland have officially put a bid in this last couple of days and are serious then surely admin shouldn't extend exclusivity again for the Spanish. If they were the only bidders then fair enough you keep ploughing on with them, but they've had 2 extensions and a month extra to provide the proof / assurances the EFL want - if they haven't been able to do it by now are they realistically going to do it in the next week? So if there is a viable alternative then i think admin have to seriously consider opening the door to that, as if we keep waiting on the Spanish only for it to collapse in another month or so we will miss the January window trying to get the next bidders over the line and then be certain for L2 and trying to find a buyer will be even harder. I've heard letting other bidders in is a risk, but it appears extending the Spanish exclusivity is becoming a risk in itself - the Spanish have until Friday to get the deal over the line - if they can't do it by then i suspect they wont ever do it and we need to immediately move on if the alternative is poised and good to go.
Hampton
Vital Football Hero
Or alternatively they have their own agenda to look after.
The locals - MP, Council, SC, Royle and Jackson - supported by a compliant local press - all seemed aligned to stand against the Spanish - without having the Kahunas to come out publically and state why or offer a credible alternative.
Meanwhile a shadowy machiavellian puppetmaster strokes his silver tache and smiles while waiting for dreams to come true.....!
OnLoanfromEnfield
Vital 1st Team Regular
Keep up at the back. This is what was posted 2 hours ago
Must be far easier to raise funds (and quicker ?) by borrowing against property rather than taking a loan out to buy a struggling football club on the cheap.
as per MIW's post, will Pies be warning us about the club being saddled with the loans ... if the sale progresses ?
king_dezeeuw06
Vital Champions League
I think it's very bad news. Another IEC by the looks of it buying something they couldn't afford to sustain. I can see why the EFL had concerns - if this is all true they may have done us a big favour not passing the deal.
Hampton
Vital Football Hero
What ? Another £9m to spend on transfers, full funding for 15 months, a new pitch and a feck off tele - bring it on.....
Hampton
Vital Football Hero
king_dezeeuw06
Vital Champions League
What ? Another £9m to spend on transfers, full funding for 15 months, a new pitch and a feck off tele - bring it on.....
I'm not going through this again in 15 months!
moonay
Vital Football Legend
Sorry OLFE ...... of course I should have linked it to your post. I was a bit gormless there.
OnLoanfromEnfield
Vital 1st Team Regular
Gawd ... no need to apologise Sir. I was just teasing.Sorry OLFE ...... of course I should have linked it to your post. I was a bit gormless there.
As an aside, do the wealthy keep their money tied up in bank accounts these days ?
Far too easy for HMRC to keep an eye on them if so.
No mention of trusts in Delaware, the Cayman islands etc etc so far though.
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