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First Wazzock

Are The Scum About To Be Taken Over?

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2 hours ago, Sooty57 said:

donaldtrumpipswich.thumb.jpg.58aff4cf3135d94164eb2a04775472a8.jpg

Anyone know who the rest of the consortium are?

Charles Ponzi,  Bernie Madoff and Jeffrey Epstein

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Apparently this new Ipswich beer is bitter but still goes down well. No cans or kegs though, they only bottle it.

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They've already been taken over by Russell Martin's MK Dons.

 Blackpool, Crewe and Gillingham are waiting in the wings.

254246173_Screenshot2021-02-20210404.jpg.421f9cc28db1e4d2bf87d7df4d1c3803.jpg

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Can't see it happening, not when Wigan are still in administration and the Derby takeover saga seems to drag on and on. 

Referring back to this article written when Evans bought the club, it sounds like there's a lot of creative accounting to create debt. So whilst Ipswich's debt was around £96m in 2019, I'm not sure how much of that is real.

https://www.theguardian.com/football/2008/jan/09/ipswichtown.championship

Evans's MEI has also bought the major lenders' debts, which had risen to £32m. Barclays are understood to have settled for just a fifth of the money owed to them and Norwich Union are reported to have accepted a similarly reduced sum although this has not been confirmed. Certainly Evans has paid the institutions substantially less than the full £32m, but the club nevertheless still owes it all, now to MEI, with interest at over 7%, £2.24m a year. If his £12m investment is spent wisely by Magilton and Ipswich have the wherewithal, pluck and luck to win promotion, Evans could be paid £32m, plus the regular return on his preference shares, and own a Premier League club worth a great deal more than he paid for it.

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11 minutes ago, Icecream Snow said:

Can't see it happening, not when Wigan are still in administration and the Derby takeover saga seems to drag on and on. 

Referring back to this article written when Evans bought the club, it sounds like there's a lot of creative accounting to create debt. So whilst Ipswich's debt was around £96m in 2019, I'm not sure how much of that is real.

https://www.theguardian.com/football/2008/jan/09/ipswichtown.championship

Evans's MEI has also bought the major lenders' debts, which had risen to £32m. Barclays are understood to have settled for just a fifth of the money owed to them and Norwich Union are reported to have accepted a similarly reduced sum although this has not been confirmed. Certainly Evans has paid the institutions substantially less than the full £32m, but the club nevertheless still owes it all, now to MEI, with interest at over 7%, £2.24m a year. If his £12m investment is spent wisely by Magilton and Ipswich have the wherewithal, pluck and luck to win promotion, Evans could be paid £32m, plus the regular return on his preference shares, and own a Premier League club worth a great deal more than he paid for it.

Poor Old Evans, still waiting for his taste of that sweet top flight pie! Aaaaaahahahahah

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Are there any examples of clubs outside of the obvious biggest clubs in England who are American owned and successful? I mean I don't believe this rumor for a second nobody on this planet is paying 40m for Ipswich town but Americans haven't exactly good a great record with owning football clubs over here. 

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29 minutes ago, Christoph Stiepermann said:

Are there any examples of clubs outside of the obvious biggest clubs in England who are American owned and successful? I mean I don't believe this rumor for a second nobody on this planet is paying 40m for Ipswich town but Americans haven't exactly good a great record with owning football clubs over here. 

It depends what you mean by 'successful', but I think Berylson at Millwall is generally regarded as being a good owner.

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Liverpool? Well until recently, and still a big club I suppose. 

Edited by Surfer

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1 hour ago, Feedthewolf said:

They've already been taken over by Russell Martin's MK Dons.

 Blackpool, Crewe and Gillingham are waiting in the wings.

254246173_Screenshot2021-02-20210404.jpg.421f9cc28db1e4d2bf87d7df4d1c3803.jpg

Does this make them the 5th best team in East Anglia? 

 

Below:

Us

Luton

Peterborough

MK Dons

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perhaps -the new owners will get rid of that old donkey they have on their badge

and upgrade it to something more relevant to the club

 

Image result for usa binmen

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On 20/02/2021 at 17:15, First Wazzock said:

There seems to be some chatter this might be going to happen

Might be wrong but can’t help that this would be covered by an NDA if it was real. These things get leaked only if there is a breakdown in the negotiations and one party sees  the risk of going public worthwhile . We saw this with the Newcastle .


 

Is ITFC up for sale ? Certainly yes.

Would Mucus take a figure lower than the debt? Probably - he must be running short of interest .

Who would buy it ?  Throwing cash at a project in order to make more money - that’s a strange business decision in football. But the price must be as low as ever before , so that might be a factor . Also ITFC do have a larger fan base potential which would play a part ? 
 

ITFC will be sold at some point . 

Edited by Graham Paddons Beard
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10 hours ago, interwebme said:

Does this make them the 5th best team in East Anglia? 

 

Below:

Us

Luton

Peterborough

MK Dons

AAAAAAAOOOOOOW NAAAAAAOOOOOW

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If i was looking to buy a football club, i would be after the best value option based on being cheap (lowest position and most keen to sell owners) and with best potential income (number of fans in the catchment area).  I would say there are 6 or 7 clubs who could potentially be more attractive (Sunderland, Wigan, Portsmouth, Bolton, Bradford or Charlton).  There are loads of other clubs capable to getting up to 20k fans if the team is good enough.

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1 hour ago, Newtopia said:

If i was looking to buy a football club, i would be after the best value option based on being cheap (lowest position and most keen to sell owners) and with best potential income (number of fans in the catchment area).  I would say there are 6 or 7 clubs who could potentially be more attractive (Sunderland, Wigan, Portsmouth, Bolton, Bradford or Charlton).  There are loads of other clubs capable to getting up to 20k fans if the team is good enough.

Sunderland are no longer available as a few days ago they have got themselves a stinking rich 23 year old French billionaire who has been appointed Chairman.

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3 minutes ago, TIL 1010 said:

Sunderland are no longer available as a few days ago they have got themselves a stinking rich 23 year old French billionaire who has been appointed Chairman.

At least he hasnt decided that he wants to play as striker for them......yet !! 😇😇😇

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2 hours ago, Newtopia said:

If i was looking to buy a football club, i would be after the best value option based on being cheap (lowest position and most keen to sell owners) and with best potential income (number of fans in the catchment area).  I would say there are 6 or 7 clubs who could potentially be more attractive (Sunderland, Wigan, Portsmouth, Bolton, Bradford or Charlton).  There are loads of other clubs capable to getting up to 20k fans if the team is good enough.

Sunderland (support,) Portsmouth (catchment, history,) Charlton (London) for me. Wigan and Bradford are split between football and rugby league whilst Bolton have so many other clubs in their vicinity to compete against.

This is a superficial assessement, but what is more obvious is the fact that Club ITFC currently have little on offer to attract a buyer. They have a secure lease (fair enough) on the ground their high maintenance (and somewhat neglected) stands sit upon, they rent their training ground, have a nilly-naffy squad of limited value (and some with proportionately high wages,) carry quite  sizeable annual losses just to keep going as a matter of habit and have a large debt. All this whilst contending with the diminishing fan-base that results from a fairly limited catchment being exposed to nearly twenty years of nothing much to get excited about. 

But, the game has been so characterised by suicidal investment projects over the last two decades, and more, that you can never say never as far as the hapless binners are concerned. 

Edited by BroadstairsR

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2 hours ago, Newtopia said:

If i was looking to buy a football club, i would be after the best value option based on being cheap (lowest position and most keen to sell owners) and with best potential income (number of fans in the catchment area).  I would say there are 6 or 7 clubs who could potentially be more attractive (Sunderland, Wigan, Portsmouth, Bolton, Bradford or Charlton).  There are loads of other clubs capable to getting up to 20k fans if the team is good enough.

Bolton were taken over just in time for the beginning of last season by the Football Whites consortium. Just as well, as Ken Anderson was horrendous. How he passed the "fit and proper" test was unbelievable.

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On a more serious note, the FFP rules now make such takeovers even more unlikely. Spending money, even if you have it, as an owner is directly linked to turnover. The Disney people own Portsmouth and have done for almost 3 years, but have done very little other than stabilise the club at the upper end of League One.

Without a productive academy, it is very difficult to make any real difference to turnover in the lower leagues. 1p5wich could get 30,000 crowds back on a regular basis (unlikely while they are playing rubbish), a massive shirt sponsorship deal (unlikely while they are not on TV) and sell a couple of youngsters (do they have any?), but even the impact of all that on turnover wouldn't amount to enough to allow a sizeable investment beyond a season or two. Without immediate success, FFP means you have to dial it all back. So it's a huge gamble even for a billionaire.

The ideal club to take over is one where turnover is consistently rising and virtually guaranteed. There is potential at 1p5wich - but not owning anything is a problem; you're not actually getting anything for your money. So unless you're a fan (Ed Sheeran, maybe?) why would you buy 1p5wich?

Birmingham, Sheffield Weds, Coventry, Charlton, Notts Forest all potential sleeping giants. 1p5wich - not so much.

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4 minutes ago, Graham Paddons Beard said:
On 21/02/2021 at 09:21, Graham Paddons Beard said:

 

Is ITFC up for sale ? Certainly yes.

Would Mucus take a figure lower than the debt? Probably - he must be running short of interest .

Who would buy it ?  Throwing cash at a project in order to make more money - that’s a strange business decision in football. But the price must be as low as ever before , so that might be a factor . Also ITFC do have a larger fan base potential which would play a part ? 
 

ITFC will be sold at some point . 

So ... Evan’s has written off the debt ? It was inevitable- and the obsession with the debt was always a red herring .

Edited by Graham Paddons Beard

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https://www.twtd.co.uk/ipswich-town-news/39776/town-takeover-close

The rumour that I saw did say that Evans was going to keep some of the land of the training ground, to build housing on,  and from this article that does seem to be the case.

'much of the cash (for the sale) will come from the pension fund for the fire and police services of a so-far unnamed US state.'

Uh Oh

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On 20/02/2021 at 21:29, PurpleCanary said:

Yes, definitely. Or no, probably. If there is a certainy here it is that sooner or later Evans, who is hardly a diehard fan, will want to offload the ownership (he may well have reached that stage some time ago...) and that if he eventually finds someone to take it from him he will have to write off more millions than he would like, were football like any other business.

As I was saying earlier...🤓

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On 21/02/2021 at 17:27, Uncle Fred said:

There appears to be something to the Ipswich rumours,the new owner is well suited to the club 

3CB38E4F-43A8-4E91-9E7D-E5468BD7E9E1.png

Nope, Michael Eisner is at Portsmouth  🙂

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25 minutes ago, PurpleCanary said:

As I was saying earlier...🤓

I would imagine that the tractorfolks will be a little more reticent before waving banknotes at us this time. I get the feeling that Evans would sell to literally anybody to wash his hands of the debacle that is ITFC.

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1 minute ago, Uncle Fred said:

A loan from a pension fund, they clearly don’t have a pot to p1SS in ,

it’s a guaranteed disaster 

At least the EADT will have plenty of first-hand experience when reporting on the takeover... https://www.pressgazette.co.uk/archant-bought-out-new-owner-shareholders/

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