Ipswich takeover

[dylanisabaddog 4,842]

It transpires that the American money comes from a pension scheme. My God! 

Those of you who have commented on the new FFP rules should note that the proposed new rules were challenged successfully in court by the PFA a couple of weeks ago. Nevertheless, the buyers have overpaid by roughly £17m. I would be going nuts if that was my pension fund 

[Essjayess 307]

If this takeover happens then it cant be any worse for Town than its been in the last decade and a half since Evans took over. I would imagine most Town fans are glad to see the back of Evans and a fresh start could turn things around...or not.  But for sure whoever the new owners are will find a huge uphill task ahead of them and as for the club itself...just yet another English club who will have foreign owners. Our club become more unique as time passes, both as a successful self funding model and British owned.

[Weneverscorefromacorner 5]

12 minutes ago, dylanisabaddog said:

It transpires that the American money comes from a pension scheme. My God! 

Those of you who have commented on the new FFP rules should note that the proposed new rules were challenged successfully in court by the PFA a couple of weeks ago. Nevertheless, the buyers have overpaid by roughly £17m. I would be going nuts if that was my pension fund 

I agree. 

I'm no financial expert but it seems dangerous to me and like you say if I found out my pension fund was part of a massive gamble like ITFC I'd be a tad concerned. 

[canarydan23 4,060]

50 minutes ago, Weneverscorefromacorner said:

I think what Yellowrider is trying to say that its really quite unbelievable that there has never been any interest in buying NCFC. 

Almost, I think what he was trying to say is that it is 'really quite' unbelievable 'that there' has 'never been' any 'interest' in 'buying' 'NCFC'.

[Ken Hairy 3,756]

So we'll go from Agent Lambert to Agent Cook...... Well he did play a handful of games for us in the late 80s 😁

[canarydan23 4,060]

45 minutes ago, Weneverscorefromacorner said:

I agree. 

I'm no financial expert but it seems dangerous to me and like you say if I found out my pension fund was part of a massive gamble like ITFC I'd be a tad concerned. 

I doubt it's as straightforward as the pension fund buying Ipswich and they'll suffer or gain as Ipswich lose or win. They will be loaning money to the consortium who will have to repay it with interest as with any loan with possible bonuses built in should they get promoted to the Championship or Premier League. And I suspect it would receive a portion of any resale figure above £17 million.

Still a pretty volatile investment, but the pension fund won't have had any direct involvement in deciding to acquire Ipswich; the consortium did that and acquired the loan based on their expertise and track record, I would bet. The interest on the loan will be payable regardless of what Ipswich do on the pitch.

[Wacky Waving Inflatable Arm Flailing Tube Man 3,775]

1 hour ago, yellowrider120 said:

Just to be 100% clear, I do NOT want an 'American owner', nor a 'Chinese owner' yet neither do I want our club to stay in the same family ownership to the exclusion of every other potential scenario.   

So what do you want, out of interest?

[canarydan23 4,060]

7 minutes ago, Wacky Waving Inflatable Arm Flailing Tube Man said:

So what do you want, out of interest?

A girlfriend

[Trevor Hockey's Beard 526]

It is pretty bizarre to think that a Pension Fund would lend to a Consortium so they can buy a Football Team, especially one in League one. If ITFC were still in the Championship it would make more sense, especially if they had much in the way of assets, but the ITFC of 2021 suggests that someone is desperate, and my money is on the Pension Fund scraping around to try and find something to invest in.

I am not qualified to give advice, but I can't see this being a good investment. Time will tell.

I am reminded of a time when I was playing the card game Newmarket and to keep the game going I lent the other players money       ( we were playing with old pennies) until the situation arose where I owned all the money in the game and still had unpaid loans. All these funds have money which they are struggling to invest, but buying ITFC smacks of desperation.

[GenerationA47 746]

2 minutes ago, Trevor Hockey's Beard said:

It is pretty bizarre to think that a Pension Fund would lend to a Consortium so they can buy a Football Team, especially one in League one. If ITFC were still in the Championship it would make more sense, especially if they had much in the way of assets, but the ITFC of 2021 suggests that someone is desperate, and my money is on the Pension Fund scraping around to try and find something to invest in.

I am not qualified to give advice, but I can't see this being a good investment. Time will tell.

I am reminded of a time when I was playing the card game Newmarket and to keep the game going I lent the other players money       ( we were playing with old pennies) until the situation arose where I owned all the money in the game and still had unpaid loans. All these funds have money which they are struggling to invest, but buying ITFC smacks of desperation.

So is your post intended to constitute financial advice, or not? I think we - and the regulators - need clarity at this point.

Edited February 26, 2021 by GenerationA47

[shefcanary 2,377]

Quite a few people on this thread have commented that Ip5w1ch no longer own the Stadium. 

This is similar to the case at Leeds in the past.   What was revealed after they were taken over was that LUFC had the option to buy the Stadium back at the price the Council had paid (the Council benefitted from the cashflow of the rental on the stadium so were not too fussed about capital values given the restrictions most local authorities have to suffer on capital reciepts). 

So there was actually quite a lot of value in that option, and thus the investment in the club.  The same is probably true at the Scum, unfortunately.  So, don't dismiss the motives of the purchasers.  The low figure of £17m would probably be augmented by the buy back of Portaloo (who else would want it) at a relatively low price.  So once agent Lambert is replaced (which would probably cost more than the Stadium ironically), I would expect it likely they get promoted next season with the ground back in their hands.  

They say don't mock the afflicted.  This might be the case here.

And yes, it's no surprise Evans secured this deal, but also we know Smith & Jones don't want to sell.  If you don't make something available it can't be sold.   We are where we are.

[The Real Buh 3,423]

Plenty of lower league clubs get bought out by crooks.

 

bor-ing!

[How I Wrote Elastic Man 1,180]

If this takeover comes to pass, I don't pretend to know what the future holds for Ipswich 

But I would like to place on record my heartfelt thanks to Marcus Evans for the outstanding job he has done over the years 👍

[yellowrider120 761]

25 minutes ago, Wacky Waving Inflatable Arm Flailing Tube Man said:

So what do you want, out of interest?

Smith has repeatedly said that ............'she is acting as custodian of the club for the fans who are the true owners'.  If she were true to her word then (at the very least) she would have explored options for her shares and then made an objective decision. For all we know she MAY have done precisely that e.g. talked to wealthy local business people and sounded them out. I very much doubt that happened. I want the most suitable person to be appointed (or should that be 'anointed' ?) as new owner when The Cook finally decides to call it a day. I have precious little confidence in her decision making process that ended with nephew Tom being 'the chosen one'      

[Graham Paddons Beard 2,421]

24 minutes ago, Weneverscorefromacorner said:

3 minutes ago, shefcanary said:

Quite a few people on this thread have commented that Ip5w1ch no longer own the Stadium. 

This is similar to the case at Leeds in the past.   What was revealed after they were taken over was that LUFC had the option to buy the Stadium back at the price the Council had paid (the Council benefitted from the cashflow of the rental on the stadium so were not too fussed about capital values given the restrictions most local authorities have to suffer on capital reciepts). 

So there was actually quite a lot of value in that option, and thus the investment in the club.  The same is probably true at the Scum, unfortunately.  So, don't dismiss the motives of the purchasers.  The low figure of £17m would probably be augmented by the buy back of Portaloo (who else would want it) at a relatively low price.  So once agent Lambert is replaced (which would probably cost more than the Stadium ironically), I would expect it likely they get promoted next season with the ground back in their hands.  

They say don't mock the afflicted.  This might be the case here.

And yes, it's no surprise Evans secured this deal, but also we know Smith & Jones don't want to sell.  If you don't make something available it can't be sold.   We are where we are.

TWTD saying Evan’s will retain a percentage of the Club and the training ground? 
 

Pension funds can invest in anything . But there has to be a point to I t - and the point has to be financial gain of some sort ? Fixed rate loan? Performance bonus? 
 

Does Mucus pocket the £17m and in return write off the whole paper debt ? 
 

 

[Thirsty Lizard 3,154]

Ipswich Town Soccer United it is then. 

[hogesar 9,608]

4 minutes ago, yellowrider120 said:

Smith has repeatedly said that ............'she is acting as custodian of the club for the fans who are the true owners'.  If she were true to her word then (at the very least) she would have explored options for her shares and then made an objective decision. For all we know she MAY have done precisely that e.g. talked to wealthy local business people and sounded them out. I very much doubt that happened. I want the most suitable person to be appointed (or should that be 'anointed' ?) as new owner when The Cook finally decides to call it a day. I have precious little confidence in her decision making process that ended with nephew Tom being 'the chosen one'      

Sounds like you're making a load of assumptions with no evidence and making derisory 'the cook' references just to really lay it on.

Good news is its out of your control and the huge majority of fans are more than happy with our owners so seems like you're gonna have to either get used to it or support them down the road till they go out of business with dodgy owners (there's an assumption to go with all of yours). 

[Tony Swallow 1]

10 minutes ago, shefcanary said:

Quite a few people on this thread have commented that Ip5w1ch no longer own the Stadium. 

This is similar to the case at Leeds in the past.   What was revealed after they were taken over was that LUFC had the option to buy the Stadium back at the price the Council had paid (the Council benefitted from the cashflow of the rental on the stadium so were not too fussed about capital values given the restrictions most local authorities have to suffer on capital reciepts). 

So there was actually quite a lot of value in that option, and thus the investment in the club.  The same is probably true at the Scum, unfortunately.  So, don't dismiss the motives of the purchasers.  The low figure of £17m would probably be augmented by the buy back of Portaloo (who else would want it) at a relatively low price.  So once agent Lambert is replaced (which would probably cost more than the Stadium ironically), I would expect it likely they get promoted next season with the ground back in their hands.  

They say don't mock the afflicted.  This might be the case here.

And yes, it's no surprise Evans secured this deal, but also we know Smith & Jones don't want to sell.  If you don't make something available it can't be sold.   We are where we are.

We do own the stadium but we have never owned the land it's built on, it's owned by the council.  I think there is some kind or order that it can't be sold or used for development by anyone anyway.

It suits us as we can't get a dodgy investor who just wants to asset strip.

See you soon.

[shefcanary 2,377]

4 minutes ago, Graham Paddons Beard said:

 

I wasn't even looking at it from Evans point of view, but from the new investors.  But you're right to raise what else he might get out of it other than the £17m.  Sheffield United were in a similar situation last year, where the Prince had to buy out the former owner's interest in their stadium and the hotel and training ground at an agreed price.  No doubt something similar will be in this deal too.

[Graham Paddons Beard 2,421]

4 minutes ago, Tony Swallow said:

We do own the stadium but we have never owned the land it's built on, it's owned by the council.  I think there is some kind or order that it can't be sold or used for development by anyone anyway.

It suits us as we can't get a dodgy investor who just wants to asset strip.

See you soon.

Hurrah ! They’re back. See you soon Tony . My second team is Cambridge
 

How is Paul these days ? Given you your club back I heard ? 
 

[yellowrider120 761]

1 hour ago, ncfcstar said:

I'm not a happy clapper, but you have to give Delia credit for allowing the restructure of the club recently.  She could quite easily have continued along the path we were going down, and would rightly have been criticised for that.

I'm not really sure why you aren't addressing me directly rather than espousing to the room, but whatever turns you on.  Your post screams of 'glass half empty', strange.  Still, I assume you have your reasons.

Please elaborate and provide evidence of anything in my post that equates to being 'glass half empty'? In fact quite the opposite if you care to take another read. However, my main assertion is that if anyone thinks that we are going to remain in this superior position v Ipswich for ever and a day are likely to be proved wrong. They will bounce back as most things go in cycles. Not that many years ago Celtic fans were crowing at the downfall (on and off the field) of their bitter rivals. They're not now are they?  

[hogesar 9,608]

4 minutes ago, yellowrider120 said:

Please elaborate and provide evidence of anything in my post that equates to being 'glass half empty'? In fact quite the opposite if you care to take another read. However, my main assertion is that if anyone thinks that we are going to remain in this superior position v Ipswich for ever and a day are likely to be proved wrong. They will bounce back as most things go in cycles. Not that many years ago Celtic fans were crowing at the downfall (on and off the field) of their bitter rivals. They're not now are they?  

Well, yes, generally. But that's irrelevant to ownership. Of course, Ipswich have had far richer owner than us for how long? And how much better than us have they done?

[Indy 3,283]

Ownership is irrelevant to me, it makes no odds and we have absolutely no influences on modern day football ownership. Yes fans can make things uncomfortable but I believe those days are long gone.

Owners are there for whatever purpose they want till they move on.

[Thirsty Lizard 3,154]

32 minutes ago, Tony Swallow said:

We do own the stadium but we have never owned the land it's built on, it's owned by the council.  I think there is some kind or order that it can't be sold or used for development by anyone anyway.

It suits us as we can't get a dodgy investor who just wants to asset strip.

See you soon.

Just out of curiosity - are you the Tony Swallow who ran on our pitch all those years ago or is it just a joke name?

[hogesar 9,608]

6 minutes ago, Indy said:

Ownership is irrelevant to me, it makes no odds and we have absolutely no influences on modern day football ownership. Yes fans can make things uncomfortable but I believe those days are long gone.

Owners are there for whatever purpose they want till they move on.

I think its that difficult to make money from a football club now too that if an owner is stupid / caring / egotistical / big fan (delete where appropriate) enough to own a club then fair play.

[alex_ncfc 644]

"'Marcus Evans reiterates that he is not actively looking to sell the club' - Ipswich Town respond to US takeover

Ipswich Town Football Club have released a statement in response to today's report that a group of American investors are 'on the verge' of buying Ipswich Town for £17.5m."

[Indy 3,283]

45 minutes ago, hogesar said:

I think its that difficult to make money from a football club now too that if an owner is stupid / caring / egotistical / big fan (delete where appropriate) enough to own a club then fair play.

That’s exactly it, Hogs, owners do it for whatever reason they do it for, the rest of us can only make assumptions! Evans no doubt has reasons for buying and keep ploughing funds into a club going downwards, we’ve had so many people with their opinions on here to why but the reality is no one knows.

Football now is beyond reasonable fan ownership, most big clubs are owned by a board made up of financial backing of sorts. We’re different to that for the time being in line more with Kings Lynn than Man City or Liverpool!

So the club sets up the structure and for this set up from day one I said this was the best way forwards, wasn’t too sure on Webber at the start but he’s proved to be a brilliant guy to have bought in.

So as I said I’ve got passed who owns the club as I or anyone of us has no influence on it! Unless you win the Euromillions tonight and buy the club but who of us really would even if we did? You need to be of a certain personality to want a football club!

Edited February 26, 2021 by Indy

[Surfer 1,547]

36 minutes ago, alex_ncfc said:

"'Marcus Evans reiterates that he is not actively looking to sell the club' - Ipswich Town respond to US takeover

Ipswich Town Football Club have released a statement in response to today's report that a group of American investors are 'on the verge' of buying Ipswich Town for £17.5m."

The key word there being “actively” 

[Nuff Said 5,079]

1 hour ago, hogesar said:

I think its that difficult to make money from a football club now too that if an owner is stupid / caring / egotistical / big fan (delete where appropriate) enough to own a club then fair play.

Not if they’re gambling with people’s pensions. Either it’s some two bit local scheme run by local bigwigs who think they’re cleverer than they really are, or there’s some financial aspect to this that hasn’t been spotted yet which means their money isn’t at risk. Either way, it doesn’t translate into a stinking rich messiah who will lead 1p5wich into the Premier League.

[yellowrider120 761]

2 hours ago, hogesar said:

Sounds like you're making a load of assumptions with no evidence and making derisory 'the cook' references just to really lay it on.

Good news is its out of your control and the huge majority of fans are more than happy with our owners so seems like you're gonna have to either get used to it or support them down the road till they go out of business with dodgy owners (there's an assumption to go with all of yours). 

They are now but that's solely on the back of results this season and our league position. Does Smith deserve credit for that? Of course, it would be churlish to deny that. However, if you were to trawl back through this forum and look at the posts during that appalling Project Restart, you would be hard pressed to locate your 'huge majority'. Such is the fickleness of football fans as we both know.