NEW THREAD FOR ALL THINGS TAKEOVER | Page 575 | Vital Football

NEW THREAD FOR ALL THINGS TAKEOVER

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I just found this story with some details I've not seen anywhere else. I'm not sure if they are conflating a couple of stories and guessing other bits as no one else seems to have reported these details. Not convinced at all as it seems to have some facts wrong about who our CEO is and Jenkins involvement. But considering no one has mentioned how much Al-Jasmi is worth this is the only figure I can find anywhere.

https://www.google.co.uk/amp/s/glob...revealed-as-the-new-owners-of-wigan-athletic/
 
king_dezeeuw06 said:
I just found this story with some details I've not seen anywhere else. I'm not sure if they are conflating a couple of stories and guessing other bits as no one else seems to have reported these details. Not convinced at all as it seems to have some facts wrong about who our CEO is and Jenkins involvement. But considering no one has mentioned how much Al-Jasmi is worth this is the only figure I can find anywhere.

https://www.google.co.uk/amp/s/glob...revealed-as-the-new-owners-of-wigan-athletic/
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Good find but a of garbage, the line on Jenkins gives it away. He has not been offered a role with the new owners at Latics, instead he was part of a different consortium who wanted to buy the club. They also mention Al-Jasmi as the incoming chairman at Latics, wrong again he’s the new owner. A terribly written article.

Shame really because the first half of the article was very encouraging in terms of the alleged money at their disposal.
 
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Coddenchips said:
Was it not Jenkins who said last week that his team had tried to buy us but had been blown out the water by the Bahrainis heavy investment?
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It was, so the article is inaccurate. But thought it was still worth a share for the alleged finances of our new owners, as i've not seen it mentioned anywhere else. Although they could also be inaccurate.
 
C_Latic said:
Good find but a of garbage, the line on Jenkins gives it away. He has not been offered a role with the new owners at Latics, instead he was part of a different consortium who wanted to buy the club. They also mention Al-Jasmi as the incoming chairman at Latics, wrong again he’s the new owner. A terribly written article.

Shame really because the first half of the article was very encouraging in terms of the alleged money at their disposal.
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I tried to find anything about Al Jasmi being interested in Cardiff and found absolutely nothing. So the fact they got the rest wrong makes it hard to take the numbers as credible.

But since the chairman owns a second home that's worth 14m in London and used to be the top guy in a Bahraini investment bank it's safe to say he's not poor, but it would be nice to have an idea of his wealth and i haven't been able to find anything.
 
walgarthjohn said:
Let’s just hope it’s a done deal this week. Hopefully EFL meet on Thursday. and pass it
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I would suggest that maybe the loose ends need tidying up and the sale to go through before the EFL will pass our membership as they have nothing to do with the actual sale.

Is anyone getting nervous ?
 
ZAKKY said:
I would suggest that maybe the loose ends need tidying up and the sale to go through before the EFL will pass our membership as they have nothing to do with the actual sale.

Is anyone getting nervous ?
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I can't take another 'failed' takeover,
i think a lot of fans will lose all interest in the Club unfortunately.

Let's get the deal complete and start afresh.
 
ZAKKY said:
I would suggest that maybe the loose ends need tidying up and the sale to go through before the EFL will pass our membership as they have nothing to do with the actual sale.

Is anyone getting nervous ?
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Caroline from the Supporters Club said she was hoping / expecting it would be officially completed before the bank holiday weekend in her interview with Jay Whittle. Admin previously said that same time frame when they confirmed the deal. Nixon also said everything is on track.

So looks like everything is on schedule and we are looking at within the next week. So nothing at all to worry about by all accounts.
 
king_dezeeuw06 said:
Caroline from the Supporters Club said she was hoping / expecting it would be officially completed before the bank holiday weekend in her interview with Jay Whittle. Admin previously said that same time frame when they confirmed the deal. Nixon also said everything is on track.

So looks like everything is on schedule and we are looking at within the next week. So nothing at all to worry about by all accounts.
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Didn't she also say that contracts have been exchanged? I'm sure she did. It's like buying a house. You exchange contracts before you actually get access.
 
I would imagine a sale of this nature will need wet ink signatures received by the administrators before it can be completed. Mr Al-Jasmi as the new owner will need to sign I imagine as well as Au Yeungs agreement to sell (wherever he is). Given the issues with Covid etc, international mail/couriers are taking longer than you would normally expect so don't be surprised if this drags on for another week or so.
 
Stan_disher said:
I would imagine a sale of this nature will need wet ink signatures received by the administrators before it can be completed. Mr Al-Jasmi as the new owner will need to sign I imagine as well as Au Yeungs agreement to sell (wherever he is). Given the issues with Covid etc, international mail/couriers are taking longer than you would normally expect so don't be surprised if this drags on for another week or so.
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If contracts have been exchanged, I'd think that's already been done.
 
My understanding is that at the point of exchange, the sale contracts are agreed and drafted but left unsigned. Lawyers from both sides are then able to review the content and request any final amendments prior to the deal being completed with final signatures.
 
I'm just going off what she said. It sounded like that's all done. I could be wrong, but the way she spoke suggested there are no hurdles to trip over.
 
Stan_disher said:
I would imagine a sale of this nature will need wet ink signatures received by the administrators before it can be completed. Mr Al-Jasmi as the new owner will need to sign I imagine as well as Au Yeungs agreement to sell (wherever he is). Given the issues with Covid etc, international mail/couriers are taking longer than you would normally expect so don't be surprised if this drags on for another week or so.
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As I understand how admin works, Au Yeung isn't selling the company as he no longer owns it since it was put it in to administration. So the deal does not need any agreement from him to sell
Although from what others have posted, despite him writing off what he was owed, he is still listed as a (if not the) major creditor & the creditors can reject the 25p in the £ offer - unlikely though as it would probably liquidate us & they'd see far less of what they're owed
 
I know when I have bought houses in the past, I've always had to sign contracts between exchange and completion. I guess this deal is further complicated by there being a third party (ie the administrators) and therefore another set of signatures required to complete the deal. With any luck, that is all done now and tomorrow, EFL can formally agree transfer of the football share but it wouldn't surprise me if the admins stretch it out a bit further..................then announce completion next Thursday, April 1st !!
 
ZAKKY said:
I would suggest that maybe the loose ends need tidying up and the sale to go through before the EFL will pass our membership as they have nothing to do with the actual sale.

Is anyone getting nervous ?
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No, mate, I am certainly not getting nervous.

Over recent days there have been a number of jobs being advertised by the football club for coaches and ground staff, I doubt we would have seen that if there was anything to worry about.

I think it is just a matter of time and us being patient.
 
Stan_disher said:
I know when I have bought houses in the past, I've always had to sign contracts between exchange and completion. I guess this deal is further complicated by there being a third party (ie the administrators) and therefore another set of signatures required to complete the deal. With any luck, that is all done now and tomorrow, EFL can formally agree transfer of the football share but it wouldn't surprise me if the admins stretch it out a bit further..................then announce completion next Thursday, April 1st !!
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The administrators are not a third party - they're one of two parties now involved (the other one being the buyers)
 
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