SPANIARDS BID REJECTED | Page 11 | Vital Football

SPANIARDS BID REJECTED

moonay said:
That's a fair point re the wages Arthur ........ I've no idea what's in the kitty, but I think I remember Stanley saying that there was some in there, with the grant from the EFL.
Maybe every bidder needs to put in a non refundable deposit of £100k then ......... that'd scare off tyre kickers.

Thing is, if we give exclusivity before all potential bidders have made their offer, we may be picking a bad option.

Reading the SC statement, they clearly (or at least, between the lines) don't want to offer exclusivity.

It's a bugger ........ I suppose you need to be in possession of all the facts to make an informed decision.
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Jay asked Stanley how much money we had left, he replied (and yes, I know - can't believe a word) "a few weeks", he's since said"how do we pay Feb's wages". I'd suggest there's not much left in the kitty, hence my genuine fear.
 
loudmouthblue said:
I will give you an example of something I have a great knowledge of because my wife worked for this company for her whole career, the last 10 in a senior European management role in finance.

HJ Heinz are or certainly were the biggest private employers in Wigan, a number of years ago they reorganised the company, many senior jobs in Wigan and the head office in Middlesex were lost as Heinz moved their UK and European headquarters to Ziest in Holland, purely because of the tax savings,.

They still are a major manufacturer in this country on a number of sites Including Kitt Green yet they pay any taxes based on the agreement they forged with the Dutch government.

Many UK based companies have done similar relocating to Dublin or a number of European destinations for the same reasons aren't ebay and pay pal registered in Luxembourg and among many other multinationals pay very little tax in the UK.

Now I am not sure the exact details of how it works but the savings Marino could have made could have made on future sales were substantial, perhaps he would have transfered some players to us on frees or small fees then sold them on for huge sums, it is possible and legal.
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They'll have to pay UK tax now we've left the EU though 😏
 
I agree with a few on twitter saying the administrators should set all potential bidders a deadline of say Friday to submit their bid with a deposit. Everyone who submits a deposit with their bid will then have their bid looked at by the EFL.Whoever the EFL feel are the best option get the club and the others get their deposit returned,which are all held in escrow (other than 1 of the deposits which will be used to fund the club)until the EFL decision.

I backed the Spaniards,mainly because of their success in Spain and admittedly with a bit of blind faith as they were in pole position to take us out of administration and were seemingly the only ones to put down a deposit.The administrators are incompetent for not doing thorough due diligence on them before accepting that exclusivity,which has led to the position we are now in.

If those parasite administrators make the same mistake again with the exclusivity process (which it looks like they are),then they are even more disgraceful than I thought.They are snakes who don't give a toss about our club,all they care about is lining their own pockets with their ridiculously high fees.
 
This thread is less than 12 hours old, yet here we are, a club in crisis, with the fans split & just been told that our 1/2/3 month long potential buyer has been rejected / binned / pulled the plug - (which ever one you care to believe) and all that the majority of posters on here seem to be concerned about is the tit for tat point scoring, the he said she said, the I was right no you were wrong brigade, there petty arguments with old foes and the I know something you don't or even the I'm a better longer time supporter than you..ffs....well I think we ALL need a shake of the head, take time to look at what's been said, what's going to happen, give each other a break and have a little less aggro between us all....it's our fucking club that's on the brink here and if it goes all these Latics forums, podcasts, twitter accounts, Supporters clubs will matter not one bit if we don't have a club. Surely to fuck in this horrendous time with all that's going on around us we can at least try to show some unity & togetherness whilst leaving all our baggage behind us!!!
 
jocklatic said:
This thread is less than 12 hours old, yet here we are, a club in crisis, with the fans split & just been told that our 1/2/3 month long potential buyer has been rejected / binned / pulled the plug - (which ever one you care to believe) and all that the majority of posters on here seem to be concerned about is the tit for tat point scoring, the he said she said, the I was right no you were wrong brigade, there petty arguments with old foes and the I know something you don't or even the I'm a better longer time supporter than you..ffs....well I think we ALL need a shake of the head, take time to look at what's been said, what's going to happen, give each other a break and have a little less aggro between us all....it's our fucking club that's on the brink here and if it goes all these Latics forums, podcasts, twitter accounts, Supporters clubs will matter not one bit if we don't have a club. Surely to fuck in this horrendous time with all that's going on around us we can at least try to show some unity & togetherness whilst leaving all our baggage behind us!!!
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Emotions are running wild and human nature being what it is,
when something hurts us, we let our judgements overide common sense
and i'm guilty of this as well.

The Club we have supported and loved for years are on a cliff edge,
how much longer we can hold on is anyone's guess.
 
This is a genuine question - which is more reasonable, the SC request that no-one is given exclusivity or the admin insisting a deal isn’t possible without one as they need to pay wages, without the deposit they can’t & that no-one is going to put a deposit down if they don’t get exclusivity.

I thought there wasn’t a cat in hells chance of the SC wish happening when they said it and I thought what admin have said sounds reasonable atbface value, but I don’t trust a word out of the admin’s mouth and I don’t know enough to tell one sides that they’re talking shite

Can anyone with knowledge of how these things work shed light on it. I know in Bolton’s case that Football Venture git preferred bidder status and exclusivity and it was getting this that meant they were prepared to put money in whilst they were waiting for their bid to get the green light
 
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Almost all clubs in Leagues one and two are running off government hand outs at minute and we will be no different. Its approaching a year since some played a home game and got any cash in. We will be in a much stronger position than most given our salaries must be the lowest in the league. Apart from Massey, Jones and Evans I would be surprised if any players are on more than 2k a month.
 
You are my sunshine said:
I agree with a few on twitter saying the administrators should set all potential bidders a deadline of say Friday to submit their bid with a deposit. Everyone who submits a deposit with their bid will then have their bid looked at by the EFL.Whoever the EFL feel are the best option get the club and the others get their deposit returned,which are all held in escrow (other than 1 of the deposits which will be used to fund the club)until the EFL decision.

I backed the Spaniards,mainly because of their success in Spain and admittedly with a bit of blind faith as they were in pole position to take us out of administration and were seemingly the only ones to put down a deposit.The administrators are incompetent for not doing thorough due diligence on them before accepting that exclusivity,which has led to the position we are now in.

If those parasite administrators make the same mistake again with the exclusivity process (which it looks like they are),then they are even more disgraceful than I thought.They are snakes who don't give a toss about our club,all they care about is lining their own pockets with their ridiculously high fees.
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Don’t forget in Jay’s interview Stanley said they would’ve accepted the £1.5m bid (earning us a 15-point deduction and likely relegation) but the reason they had to pull the plug on the deal was due to the Spanish insisting on the 15-point deduction not being part of the deal. These admins don’t give a f&ck about our club and also don’t give a fig for the other creditors who would be screwed by the lower bid. All they care about are their hugely inflated fees. But don’t worry guys and girls think of poor Paul Stanley who has aged through this whole process. Poor guy!!
 
Hampton said:
For their UK operations turnover absolutely.
The Head Offices will be coming back once Corp tax reduced to 15% as well 👍🙂
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So that 4% reduction in corporation tax to 15% which is 10% lower than in spain could indicate that the Morino bid being because of tax savings could have some legs after all as I said, on the reported profit Leganes made recently of £/€ 40 million (not sure which) paying corporation in the UK at 15% as opposed to the 25% in Spain would have given them a net saving of some 4 million, not even what the agreed purchase price was.
Another that must be cursing brexit.
 
moonay said:
That's a fair point re the wages Arthur ........ I've no idea what's in the kitty, but I think I remember Stanley saying that there was some in there, with the grant from the EFL.
Maybe every bidder needs to put in a non refundable deposit of £100k then ......... that'd scare off tyre kickers.

Thing is, if we give exclusivity before all potential bidders have made their offer, we may be picking a bad option.

Reading the SC statement, they clearly (or at least, between the lines) don't want to offer exclusivity.

It's a bugger ........ I suppose you need to be in possession of all the facts to make an informed decision.
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If admin had any credability left it would be easier to accept their argument on exclusivity. But after all we've seen from them it is very hard to trust anything they say so I'm skeptical.
 
loudmouthblue said:
Frampton an his group are back in discussions with the administrators, there is interest and communication with an American bid and also a local one that will include the supporters club.

It seems the Spaniards have been rejected because the links with the original bidder Garriddo is still there and their business practices in general, not just football, are suspicious.
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A few questions, if I may.


1. What is your source?
2. Where is your proof on such matters?


I see a fair amount of posting but nothing substantial.

I also find it amazing that you've knocked Jay Whittle who's had the vast majority of people involved with the process on. I doubt you'd have the same success. Theres about 30+ hours of content. Nobody has produced anything close to it. Credit needs to go where it is due.

I highlighted a few issues with IEC at the start. I was sounded out and shouted down. I find this whole line of being ITK incredulous.

I think I shall leave you all to it. All the best for 2021.
 
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