Sports Shield - New Owners (Probably)

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Gary the Enfield
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Re: Sports Shield - New Owners (Probably)

Post by Gary the Enfield » Fri Feb 26, 2016 1:07 pm

LeverEnd wrote:
Gary the Enfield wrote:
Dave Sutton's barnet wrote:Iles: "FL meeting this afternoon to decide whether SS bid given the go ahead. Very possible that there won't be a definitive answer, though."

Sounds........unproductive.
Maybe they'll convene a committee to discuss the committee's findings amid much shuffling of paper.

Elected or Supporter's Trust cobbled together committee?

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Re: Sports Shield - New Owners (Probably)

Post by wigan white » Fri Feb 26, 2016 2:12 pm

Gary the Enfield wrote:
LeverEnd wrote:
Gary the Enfield wrote:
Dave Sutton's barnet wrote:Iles: "FL meeting this afternoon to decide whether SS bid given the go ahead. Very possible that there won't be a definitive answer, though."

Sounds........unproductive.
Maybe they'll convene a committee to discuss the committee's findings amid much shuffling of paper.

Elected or Supporter's Trust cobbled together committee?
Whenever I hear FA or Football league meeting, I get the impression that its about 10 blokes in a room all going :-
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Re: Sports Shield - New Owners (Probably)

Post by Lost Leopard Spot » Fri Feb 26, 2016 5:21 pm

wigan white wrote:
Gary the Enfield wrote:
LeverEnd wrote:
Gary the Enfield wrote:
Dave Sutton's barnet wrote:Iles: "FL meeting this afternoon to decide whether SS bid given the go ahead. Very possible that there won't be a definitive answer, though."

Sounds........unproductive.
Maybe they'll convene a committee to discuss the committee's findings amid much shuffling of paper.

Elected or Supporter's Trust cobbled together committee?
Whenever I hear FA or Football league meeting, I get the impression that its about 10 blokes in a room all going :-
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That's because that's what happens.
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twilight
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Re: Sports Shield - New Owners (Probably)

Post by twilight » Sat Feb 27, 2016 8:38 pm

Has anybody heard anything that this takeover is in danger of falling through?

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Re: Sports Shield - New Owners (Probably)

Post by ChrisC » Sat Feb 27, 2016 10:33 pm

twilight wrote:Has anybody heard anything that this takeover is in danger of falling through?

Only rumours on Facebook. Apparently rumours flying round the platinum suite today. Wait and see I suppose.

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Re: Sports Shield - New Owners (Probably)

Post by Rjs37 » Sat Feb 27, 2016 10:40 pm

twilight wrote:Has anybody heard anything that this takeover is in danger of falling through?
Possibly people reading the below snippet from the Sun and getting worried?
https://twitter.com/SuperWhiteSmurf/sta ... 2316891136" onclick="window.open(this.href);return false;

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Re: Sports Shield - New Owners (Probably)

Post by bobo the clown » Sun Feb 28, 2016 12:45 am

Better call the Gypo back then !!
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Re: Sports Shield - New Owners (Probably)

Post by LeverEnd » Sun Feb 28, 2016 11:08 am

Nothing would surprise me this season.
Maybe it will turn out Sportshield is the problem not ED.
...

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Re: Sports Shield - New Owners (Probably)

Post by twilight » Sun Feb 28, 2016 11:13 am

I think Sports Shield have just invested a bit of their own money (shares maybe) in and ED is and still will be the owner. I have just made this up but it sounded ok to me at the time

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Re: Sports Shield - New Owners (Probably)

Post by LeverEnd » Sun Feb 28, 2016 11:20 am

twilight wrote:I think Sports Shield have just invested a bit of their own money (shares maybe) in and ED is and still will be the owner. I have just made this up but it sounded ok to me at the time
We might as well make stuff up, it's not like we get told much!
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Re: Sports Shield - New Owners (Probably)

Post by BWFC_Insane » Sun Feb 28, 2016 11:36 am

twilight wrote:I think Sports Shield have just invested a bit of their own money (shares maybe) in and ED is and still will be the owner. I have just made this up but it sounded ok to me at the time
No. The reason there is a hold up is because sports shield have to prove to the league that they have sufficient funds to keep the club operational this year and next.

This is actually harder than it sounds. How do you prove investors intentions? And they can't stick money in a bank because income next season is unknown.

So they have to work on a projection of relegation to demonstrate they have a business plan in place to keep the club afloat.

Allied to this is the fact that Eddie changed the deal in the last 48 hours meaning they had to agree and then sign, and haven't yet I assume fully fleshed out their business plans based on the new numbers.

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Re: Sports Shield - New Owners (Probably)

Post by Worthy4England » Sun Feb 28, 2016 12:53 pm

BWFC_Insane wrote:
twilight wrote:I think Sports Shield have just invested a bit of their own money (shares maybe) in and ED is and still will be the owner. I have just made this up but it sounded ok to me at the time
No. The reason there is a hold up is because sports shield have to prove to the league that they have sufficient funds to keep the club operational this year and next.

This is actually harder than it sounds. How do you prove investors intentions? And they can't stick money in a bank because income next season is unknown.

So they have to work on a projection of relegation to demonstrate they have a business plan in place to keep the club afloat.

Allied to this is the fact that Eddie changed the deal in the last 48 hours meaning they had to agree and then sign, and haven't yet I assume fully fleshed out their business plans based on the new numbers.
So that bit you were bellyaching about as an enforced "ED delay" at the time?

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Re: Sports Shield - New Owners (Probably)

Post by Lost Leopard Spot » Sun Feb 28, 2016 1:00 pm

BWFC_Insane wrote:
twilight wrote:I think Sports Shield have just invested a bit of their own money (shares maybe) in and ED is and still will be the owner. I have just made this up but it sounded ok to me at the time
No. The reason there is a hold up is because sports shield have to prove to the league that they have sufficient funds to keep the club operational this year and next.

This is actually harder than it sounds. How do you prove investors intentions? And they can't stick money in a bank because income next season is unknown.

So they have to work on a projection of relegation to demonstrate they have a business plan in place to keep the club afloat.

Allied to this is the fact that Eddie changed the deal in the last 48 hours meaning they had to agree and then sign, and haven't yet I assume fully fleshed out their business plans based on the new numbers.
No they don't. Where the feckity fex does it state new owners have to prove funding for the year after they take over?
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Re: Sports Shield - New Owners (Probably)

Post by BWFC_Insane » Sun Feb 28, 2016 1:25 pm

Lost Leopard Spot wrote:
BWFC_Insane wrote:
twilight wrote:I think Sports Shield have just invested a bit of their own money (shares maybe) in and ED is and still will be the owner. I have just made this up but it sounded ok to me at the time
No. The reason there is a hold up is because sports shield have to prove to the league that they have sufficient funds to keep the club operational this year and next.

This is actually harder than it sounds. How do you prove investors intentions? And they can't stick money in a bank because income next season is unknown.

So they have to work on a projection of relegation to demonstrate they have a business plan in place to keep the club afloat.

Allied to this is the fact that Eddie changed the deal in the last 48 hours meaning they had to agree and then sign, and haven't yet I assume fully fleshed out their business plans based on the new numbers.
No they don't. Where the feckity fex does it state new owners have to prove funding for the year after they take over?
They had a meeting and that is what the league has asked sports shield to do. The requirement to prove the ability to run the club as a going concern has been part of the league checks for a while.

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Re: Sports Shield - New Owners (Probably)

Post by Lost Leopard Spot » Sun Feb 28, 2016 1:26 pm

BWFC_Insane wrote:
Lost Leopard Spot wrote:
BWFC_Insane wrote:
twilight wrote:I think Sports Shield have just invested a bit of their own money (shares maybe) in and ED is and still will be the owner. I have just made this up but it sounded ok to me at the time
No. The reason there is a hold up is because sports shield have to prove to the league that they have sufficient funds to keep the club operational this year and next.

This is actually harder than it sounds. How do you prove investors intentions? And they can't stick money in a bank because income next season is unknown.

So they have to work on a projection of relegation to demonstrate they have a business plan in place to keep the club afloat.

Allied to this is the fact that Eddie changed the deal in the last 48 hours meaning they had to agree and then sign, and haven't yet I assume fully fleshed out their business plans based on the new numbers.
No they don't. Where the feckity fex does it state new owners have to prove funding for the year after they take over?
They had a meeting and that is what the league has asked sports shield to do. The requirement to prove the ability to run the club as a going concern has been part of the league checks for a while.
Where was this information published? I'd like a copy.
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Re: Sports Shield - New Owners (Probably)

Post by BWFC_Insane » Sun Feb 28, 2016 2:23 pm

Lost Leopard Spot wrote:
BWFC_Insane wrote:
Lost Leopard Spot wrote:
BWFC_Insane wrote:
twilight wrote:I think Sports Shield have just invested a bit of their own money (shares maybe) in and ED is and still will be the owner. I have just made this up but it sounded ok to me at the time
No. The reason there is a hold up is because sports shield have to prove to the league that they have sufficient funds to keep the club operational this year and next.

This is actually harder than it sounds. How do you prove investors intentions? And they can't stick money in a bank because income next season is unknown.

So they have to work on a projection of relegation to demonstrate they have a business plan in place to keep the club afloat.

Allied to this is the fact that Eddie changed the deal in the last 48 hours meaning they had to agree and then sign, and haven't yet I assume fully fleshed out their business plans based on the new numbers.
No they don't. Where the feckity fex does it state new owners have to prove funding for the year after they take over?
They had a meeting and that is what the league has asked sports shield to do. The requirement to prove the ability to run the club as a going concern has been part of the league checks for a while.
Where was this information published? I'd like a copy.
Please see section four of football league rules. But to help I've copied the relevant part below.

I know you don't believe anything reported in the Bolton news, but your own information wherever it has come from is very wrong I'm afraid.
16.16 By 31st March in each Season, each Championship Club shall submit to The League in respect of itself (or if the Championship Club considers it appropriate or The League so requests in respect of the Group of which it is a member) future financial information (‘Future Financial Information’) comprising projected profit and loss accounts, cash flow, balance sheets and relevant explanatory notes commencing from its accounting reference date or, if it has submitted interim accounts pursuant to Regulation 16.11, from the date to which those interim accounts were prepared and expiring on the next accounting reference date after the end of the following Season. The projected profit and loss accounts, cash flow and balance sheets shall be prepared at a maximum of six-monthly intervals.
16.21 If any Person proposes to acquire Control of a Club:

16.21.1 the Club shall submit to The League up to date Future Financial Information prepared to take into account the consequences of the change of Control on the Club’s future financial position as soon as reasonably practicable prior to the change of Control or, if such submission is not reasonably practicable prior to the change of Control, no later than 10 Normal Working Days thereafter; and

16.21.2 The League shall have the power to require the Person who proposes to acquire or has acquired Control to appear before it and to provide evidence of the source and sufficiency of any funds which that Person proposes to invest in or otherwise make available to the Club.

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Re: Sports Shield - New Owners (Probably)

Post by thebish » Sun Feb 28, 2016 2:27 pm

^ I don't know what the feck they are looking for - but that bit you quoted doesn't mention timescale - as in - a year after they take control... have you missed some off?
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Re: Sports Shield - New Owners (Probably)

Post by BWFC_Insane » Sun Feb 28, 2016 2:28 pm

thebish wrote:^ I don't know what the feck they are looking for - but that bit you quoted doesn't mention timescale - as in - a year after they take control... have you missed some off?
Sorry yes. I realised and just edited. The relevant part was a bit higher in the rules. See edited post.

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Re: Sports Shield - New Owners (Probably)

Post by Worthy4England » Sun Feb 28, 2016 2:42 pm

I'm not having it. It's bollocks. This "evidence of money" is just ED dicking about again. No honest. Really...Changing the rules on a whim.

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Re: Sports Shield - New Owners (Probably)

Post by BWFC_Insane » Sun Feb 28, 2016 2:45 pm

Worthy4England wrote:I'm not having it. It's bollocks. This "evidence of money" is just ED dicking about again. No honest. Really...Changing the rules on a whim.
What Davies changed last minute was not that requirement. But the amount of money he wanted out of the deal suddenly increased.

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