NEW THREAD FOR ALL THINGS TAKEOVER

[Dudestalker]

His words were the ones I am paraphrasing, That given the opportunity the bid was prepared, money secured and the deal would be completed in weeks.

If neither makes sense then there is probably a reason, the bid has not been placed or accepted as of yet, as I say he talks the talk but fails to walk the walk.

Didn't the admins say in one interview that the 58 companies Jeffries owns, or is part of, be a minefield to untangle as re proof of funds.

Could be the reason admins are alledgedly reluctant to entertain the Frampton bid ?

 

[moonay]

His words were the ones I am paraphrasing, That given the opportunity the bid was prepared, money secured and the deal would be completed in weeks.

If neither makes sense then there is probably a reason, the bid has not been placed or accepted as of yet, as I say he talks the talk but fails to walk the walk.

Or, the update from the Admins isn't strictly accurate.

I'm not saying that it isn't, but it does seem strange ......... .a) to have so many bidders, and b) to have seemingly not made sufficient progress with the lead bidder from last week (presumably) so that they've ticked both boxes - offer and POF.

Strange.

 

[TRUE BELIEVER]

I'm positive he knows POF is a requirement .......... presumably, they've been working on that - amongst other things - this week.

Got to say, having so many bidders at this stage seems unbelievable. I wonder how many are happy with us getting the points deduction.

TBH mate I think LMB jumped the gun, I do believe he was being genuine and have no reason to doubt that that was the information he was given, however it looks like the supplier of his information got it wrong.

I am surprised myself at the amount of interest and can only think that the bidders are seeing the potential in the academy and hoping that the young players will develop into decent assets whereby they can recoup their investment at a later date.

All we need now is for one of them to turn out to be a decent, well funded, owner with the vision to see a great future for our club. (well we can hope can't we.)

 

[TRUE BELIEVER]

Or, the update from the Admins isn't strictly accurate.

I'm not saying that it isn't, but it does seem strange ......... .a) to have so many bidders, and b) to have seemingly not made sufficient progress with the lead bidder from last week (presumably) so that they've ticked both boxes - offer and POF.

Strange.

I can't see what they would have to gain from issuing a statement like this if it wasn't accurate.

Before anyone starts, I know many think they can't lie straight in bed, but there would be no financial gain in lying about this.

 

[king_dezeeuw06]

FFS ........... pick the bones from this !

https://wiganathletic.com/news/2021/january/Statement-From-The-Joint-Administrators-15-01-21-/

I was expecting it to be a cut and paste of last weeks update so i'm surprised there is any detail.

I find it very strange that all these supposed bidders keep popping out of the woodwork just now after we've been asset stripped when we've been available for so long. Suspect some / most of those 11 bidders aren't credible.

But out of the one's they mentioned 2 have been able to provide proof of funds but not made and offer while 2 have made an offer but not provided proof of funds. That seems really odd - you'd think Admin would have a system to either require proof of funds before they start talking or have an offer and then provide proof of funds.

 

[Made in Wigan]

The administrators are full of shit. The statement is vague and doesn’t say a great deal. They’ve made a complete mess of this whole process and their professionalism has been nothing short of disgraceful. The only really interested party at this stage is Framptons group and they’ve already slagged him off publicly. It’s little wonder they won’t swallow their pride and get this done, though quite frankly their reputation can’t get any lower.

 

[moonay]

I can't see what they would have to gain from issuing a statement like this if it wasn't accurate.

Before anyone starts, I know many think they can't lie straight in bed, but there would be no financial gain in lying about this.

I get that TB ..........other than maybe they're trying to save face, given they were less than charitable re Frampton's comments and previous involvement when the Spanish were in pole position.

Something doesn't seem right though. As an aside ...... .why would anyone show POF if they hadn't made an offer. At the very least, you must be on the cusp of making an offer in order to open your bank a/cs.

 

[jocklatic]

Seems like Fridays are classed as 'groundhog days'.....
Fridays are the worst days for any announcements - they tend to be done between 3pm-5pm so folks can't or aren't able to get any further information or ask pressing questions as the people giving the statements have finished for the weekend.
Bit like at work, where the senior management team always pick a Friday to give bad news, be that jib cuts, redundancies or pay cuts - they give the bad news then scuttle off to their hidey holes to avoid any tough questions or a baying mob....bit like our Admins imo

 

[TRUE BELIEVER]

I was expecting it to be a cut and paste of last weeks update so i'm surprised there is any detail.

I find it very strange that all these supposed bidders keep popping out of the woodwork just now after we've been asset stripped when we've been available for so long. Suspect some / most of those 11 bidders aren't credible.

But out of the one's they mentioned 2 have been able to provide proof of funds but not made and offer while 2 have made an offer but not provided proof of funds. That seems really odd - you'd think Admin would have a system to either require proof of funds before they start talking or have an offer and then provide proof of funds.

It is normal to make a bid before showing POF, that's normal in most business dealings. If you are buying a house you normally view it make a bid and then show funds, same goes if you are buying a business.

You don't want to show your hand before making the offer in case the seller tries to take advantage and up the sale price as he sees you have a large bank balance.

 

[Nottingham]

Seems like Fridays are classed as 'groundhog days'.....
Fridays are the worst days for any announcements - they tend to be done between 3pm-5pm so folks can't or aren't able to get any further information or ask pressing questions as the people giving the statements have finished for the weekend.
Bit like at work, where the senior management team always pick a Friday to give bad news, be that jib cuts, redundancies or pay cuts - they give the bad news then scuttle off to their hidey holes to avoid any tough questions or a baying mob....bit like our Admins imo

Nice one, Jock

 

[jocklatic]

I was expecting it to be a cut and paste of last weeks update so i'm surprised there is any detail.

I find it very strange that all these supposed bidders keep popping out of the woodwork just now after we've been asset stripped when we've been available for so long. Suspect some / most of those 11 bidders aren't credible.

But out of the one's they mentioned 2 have been able to provide proof of funds but not made and offer while 2 have made an offer but not provided proof of funds. That seems really odd - you'd think Admin would have a system to either require proof of funds before they start talking or have an offer and then provide proof of funds.

I think of all the new potential bidders, perhaps Admins are counting bidders who have contacted them via twitter / fb / Instagram whilst full of ale and promising to buy the club...
e.g. - Brian from Marsh Green ..."eh up Begbies, I'll pay £3m n will show u my pof wen I get my job seekers allowance thru" ...

Brittany from Lower Ince..."hi admins, my fella has sold all his fishing tackle, soon as the payments clear ebay we will be in position to put a credible bid in"

 

[Made in Wigan]

I can't see what they would have to gain from issuing a statement like this if it wasn't accurate.

Before anyone starts, I know many think they can't lie straight in bed, but there would be no financial gain in lying about this.

What it doesn’t say is perhaps more interesting. Framptons group will be one of the 4. Acceptable bid and pof. Ask yourself why these parasites won’t action it.

 

[TRUE BELIEVER]

I get that TB ..........other than maybe they're trying to save face, given they were less than charitable re Frampton's comments and previous involvement when the Spanish were in pole position.

Something doesn't seem right though. As an aside ...... .why would anyone show POF if they hadn't made an offer. At the very least, you must be on the cusp of making an offer in order to open your bank a/cs.

Not sure about your first point but I think you are spot on with the second.

I am not saying that Frampton hasn't placed a bid or spoken to the admins, I am just very unsure of his integrity and his over optimistic statements, he reminds me very much of the guy who suckered Man Utd.

If his bid is accepted and he becomes our new owner than he will have my full backing, at least I will give him the benefit of the doubt and hold my breath hoping he is what he says he is.

 

[TRUE BELIEVER]

What it doesn’t say is perhaps more interesting. Framptons group will be one of the 4. Acceptable bid and pof. Ask yourself why these parasites won’t action it.

Sorry mate you will have to expand on that. My understanding of the statement i that 2 have shown POF but not finalised a bid and 2 have bid but not shown POF, in which category are you placing Frampton.

 

[Made in Wigan]

Sorry mate you will have to expand on that. My understanding of the statement i that 2 have shown POF but not finalised a bid and 2 have bid but not shown POF, in which category are you placing Frampton.

None of those two. He referenced 11 groups/bidders. Those 4 in those two groups, 3 others who are ‘promising’ to show pof and so there are 4 other groups left over. Framptons will be in that group - he just won’t say they provided pof and made a bid. The question is why they won’t action it?

 

[moonay]

Sorry mate you will have to expand on that. My understanding of the statement i that 2 have shown POF but not finalised a bid and 2 have bid but not shown POF, in which category are you placing Frampton.

I reckon the only logical assumption is that
- they made a bid (because Begbies more or less said they had last week)
- they've now shown POF
- they haven't revised or confirmed their "bid" as an "offer"
.......... and so Begbies are classing that as not having made a (formal) bid/offer.

Nothing else makes sense.

 

[TRUE BELIEVER]

None of those two. He referenced 11 groups/bidders. Those 4 in those two groups, 3 others who are ‘promising’ to show pof and so there are 4 other groups left over. Framptons will be in that group - he just won’t say they provided pof and made a bid. The question is why they won’t action it?

Still a little confused TBH.

If I get what you are alluding to, you are saying that Frampton's consortium have made a bid and provided POF but are once again being frozen out by the admins.

 

[TRUE BELIEVER]

I reckon the only logical assumption is that
- they made a bid (because Begbies more or less said they had last week)
- they've now shown POF
- they haven't revised or confirmed their "bid" as an "offer"
.......... and so Begbies are classing that as not having made a (formal) bid/offer.

Nothing else makes sense.

Sorry mate but when did Begbies more or less say that it was the Frampton bid they had received?

 

[moonay]

Still a little confused TBH.

If I get what you are alluding to, you are saying that Frampton's consortium have made a bid and provided POF but are once again being frozen out by the admins.

That also makes sense. They're the only ones (maybe) to have concluded both steps, but the Admins just didn't bother highlighting this.

Not lying, but not offering the whole truth either.

It would be unbelievably petty if it's true.

 

[moonay]

Sorry mate but when did Begbies more or less say that it was the Frampton bid they had received?

To be fair, they haven't, but PK has. What Begbies did say though, last week, was that We have received written offers which are subject to certain conditions and further due diligence

As of last friday, no-one else was rumoured to have made a bid.