Delia & MWJ succession planning

[Iwans Big Toe 312]

7 hours ago, PurpleCanary said:

I think that's overstating it just a bit, but essentially I agree with you. The vast majority of decisions they have got right. It's good to see that acknowledged.

[Badger 2,405]

10 hours ago, TeemuVanBasten said:

Now people are talking about "trusts", but the only precedent for this is Blackburn Rovers, who ended up being flogged a few years later to the Venky's! 

You are correct, but the Venkey' said that they would absolutely respect Jack Walker's legacy. I thought that you were one of the ones that wanted us taken over by someone rich?

[robert choice 24]

It's quite comical reading on here about stopping 'racism' and bleating about 'inclusiveness', yet when it comes to potential ownership it's "we don't want no foreners ere".

 

Hypocrisy or what?

[TeemuVanBasten 3,327]

8 hours ago, Christoph Stiepermann said:

Call it a hunch, but I get the feeling that he will look to sell the club when he inherits it. I just hope he does a better job of picking a new owner than Dave Whelans son did at Wigan. 

This is a bit confusing.... Dave Whelan's son definitely couldn't have "inherited" the club, because Dave Whelan isn't dead.

And having just googled, it looks like it was Dave Whelan who sold the club. 

[Badger 2,405]

10 hours ago, TeemuVanBasten said:

It is odd that some people aren't concerned by this, considering the number of bad owners and poorly run clubs out there.

I think that your point about the Venkey Trust is a significant one. But surely if it did pan out and the theoretical trust did sell out for Tom (or other beneficiary) you would get what you want a rich owner?

Wouldn't that be a win for you?

[TeemuVanBasten 3,327]

6 minutes ago, Badger said:

you would get what you want a rich owner?

How can you say this with certainty? 

You not heard of leveraged buyouts?

Somebody can buy a club with £0 down, and then charge the purchase price to the business. The fit and proper person tests have proven themselves to be useless. 

I'd trust Delia and MWJ to choose the correct wealthy owner over Nephew Tom, who we know nothing about and hear very little from, and for all we know could just flog to the highest bidder, no matter who they are. 

So I'd rather they kept Nephew Tom out of the equation entirely. 

[Badger 2,405]

10 minutes ago, TeemuVanBasten said:

How can you say this with certainty? 

You not heard of leveraged buyouts?

Somebody can buy a club with £0 down, and then charge the purchase price to the business. The fit and proper person tests have proven themselves to be useless. 

I'd trust Delia and MWJ to choose the correct wealthy owner over Nephew Tom, who we know nothing about and hear very little from, and for all we know could just flog to the highest bidder, no matter who they are. 

So I'd rather they kept Nephew Tom out of the equation entirely. 

I am very aware of leveraged buyouts - Burnley had one last year, but very few on here have said that they are in a worse position than us (which imo they are).

What they do re Tom remains to be seen, but if they were to sell the club it creates a whole series of issues. Realistically the club is worth £150 to £200 million (I think that the total price for Burnley is over £200 million and would have thought we were worth more).

Let me keep the maths simple and say £200 million. We are told that we simply don't have enough to be competitive - how much more do we need. Are we very close to be rich enough to be competitive - would an extra £20 million a year subsidy be enough or are we miles of needing £50 million? Nobody has ever explained this too me - just said that we don't have enough.

Even at the conservative end of this, it has cost the new owners £300 million over 5 years. What is the end game for their investment - where do they make a profit? Why would they invest in us?

Edited September 27, 2021 by Badger
Inserted "over 5 years"