20 bids for Chelsea

[essex canary 496]

48 minutes ago, shefcanary said:

No Badger, it is effectively one share one vote, so I get 4, Delia and Michael jointly get 325,000 or so, but with the major caveat that this is if Table A of the model Articles of Association apply (which, as I have argued in the past, is not exactly clear)!

This appears to be as clear as mud. At the AGM we vote based on a show of hands so nobody takes account of how many shares anyone owns. I doubt that the majority owners have come close to losing on the hand show but if they did, what would happen next? Perhaps a poll? The issues they refer to the AGM seem rather random with other decisions being taken in year eg. Away Membership.

The whole Constitution is as clear as mud yet there are important issues such as ground ownership as identified in this thread. The football industry certainly needs the Crouch Report and that includes NCFC.

 

 

[Jim Smith 2,317]

21 minutes ago, essex canary said:

I got free home membership this year. If you ask for it you should get it as per item 8 of the Articles of Association.

If only we were writing about a Cricket Club it would be so much easier.

I've not read your ombudsman decisions before. Just had a read. Yes quite clear in there that they acknolwledge shareholders are entitled to free home membership. Interesting arguments on the away membership. I'm really cant remember but I find it hard to believe membership back in those days did not also bring with it some form of priority for away tickets ahead of general sale. 

[PurpleCanary 5,557]

6 minutes ago, essex canary said:

This appears to be as clear as mud. At the AGM we vote based on a show of hands so nobody takes account of how many shares anyone owns. I doubt that the majority owners have come close to losing on the hand show but if they did, what would happen next? Perhaps a poll? The issues they refer to the AGM seem rather random with other decisions being taken in year eg. Away Membership.

The whole Constitution is as clear as mud yet there are important issues such as ground ownership as identified in this thread. The football industry certainly needs the Crouch Report and that includes NCFC.

 

 

The point is that if M&J vote for, or against, a proposal then by definition that represents a majority. It is arguable that sometimes it would be interesting to know how many shares were voted against, or for, but it would always have to be a minority.

[essex canary 496]

16 hours ago, shefcanary said:

Ah ha, yes, I can see what you mean now, as I have said not entirely clear.  In that case not sure how I've lost free membership even if it is only for the promotional activity.  I will ask .....

Let us know how you get on. Perhaps they should refund those you have paid in the past. 

The other issue here is there would be no problem if shareholding details were linked to our website accounts which could then issue the memberships automatically.

[CowboyCanary 37]

On 17/03/2022 at 00:24, dylanisabaddog said:

According to the BBC there are 20 interested parties including one backed by Sebastian Coe. It made me wonder how much Norwich City would sell for and how much interest there would be. 

Based on other club sales I would guess the value to be around £150m so Smith and Jones are probably sitting on up to £75m worth of shares (before tax) . Bearing in mind the possibility that Government action and/or another relegation to League 1 could knock a big hole in that figure, they're taking a huge punt on maintaining control. 

There are two billionaires from Wyoming presenting bids to buy Chelsea.  Wow, imagine, Wyoming could be owners of a Premier League Team.  Each is part of two different groups in the proposed purchase.  Maybe they could rescue Norwich City 🥺 

[dylanisabaddog 4,914]

1 hour ago, CowboyCanary said:

There are two billionaires from Wyoming presenting bids to buy Chelsea.  Wow, imagine, Wyoming could be owners of a Premier League Team.  Each is part of two different groups in the proposed purchase.  Maybe they could rescue Norwich City 🥺 

Sorry to disalusion you but the Russian is highly unlikely to sell to an American. 

[CowboyCanary 37]

9 hours ago, dylanisabaddog said:

Sorry to disalusion you but the Russian is highly unlikely to sell to an American. 

I'm not disillusioned.  Just stating what I read in the newspaper.  Anyway, how much say does the Russian have in the matter?

[dylanisabaddog 4,914]

5 hours ago, CowboyCanary said:

I'm not disillusioned.  Just stating what I read in the newspaper.  Anyway, how much say does the Russian have in the matter?

My understanding is that he decides who he wants to sell it to and then the Government makes sure he doesn't benefit from the sale. But I've been wrong before🙄

[Badger 2,405]

"The sale of Chelsea has hit a serious obstacle over fears that Russian-born owner Roman Abramovich is attempting to renege on his promise to write off a £1.6 billion debt."

Article below (not behind paywall)

https://www.thetimes.co.uk/article/8484d81c-cadf-11ec-b4b6-e30a321b8cd3?shareToken=4f6269317cca44ed38f8bd131ec2e988

 

 

 

[shefcanary 2,402]

29 minutes ago, Badger said:

"The sale of Chelsea has hit a serious obstacle over fears that Russian-born owner Roman Abramovich is attempting to renege on his promise to write off a £1.6 billion debt."

Article below (not behind paywall)

https://www.thetimes.co.uk/article/8484d81c-cadf-11ec-b4b6-e30a321b8cd3?shareToken=4f6269317cca44ed38f8bd131ec2e988

 

 

 

I thought he had no choice in the matter because he was sanctioned.  Ultimately when things settle down, and assuming he does not go to war trials, wouldn't he be suing UK Gov not Chelsea or whoever? 

Edited May 4, 2022 by shefcanary

[Badger 2,405]

1 minute ago, shefcanary said:

I thought he had no choice in the matter because he was sanctioned.  Ultimately when things settle down, and assuming he does not go to war trials, wouldn't he be suing UK Gov not Chelsea or whoever? 

The article says that the loans came from a Trust in Jersey,  which presumably complicates things?

[shefcanary 2,402]

Just now, Badger said:

The article says that the loans came from a Trust in Jersey,  which presumably complicates things?

Nothing in life is straightforward!  🙂

[Mello Yello 2,289]

I've put an initial cheeky bid in of £23.75 for Roman's luxury yacht.....You don't ask, you never get....

[Ken Hairy 3,772]

So Chelsea go bust and 18th place gets a reprieve........ There's still a chance for us..... 😏😀😀

[hogesar 9,658]

11 minutes ago, Ken Hairy said:

So Chelsea go bust and 18th place gets a reprieve........ There's still a chance for us..... 😏😀😀

Let's be honest, there still wouldn't be, even in LDC's eyes! 😉

 

[Ken Hairy 3,772]

14 minutes ago, hogesar said:

Let's be honest, there still wouldn't be, even in LDC's eyes! 😉

 

Oh I guarantee if and when he hears Chelsea potentially going out of business, he'll be thinking it 😁

[sgncfc 1,227]

1 hour ago, Badger said:

The article says that the loans came from a Trust in Jersey,  which presumably complicates things?

I'm not sure this article is correct. I believe that Jersey has also sanctioned his companies based there. He seems to indicate that being sanctioned means he cannot undertake any economic actions and his company/trust is therefore not allowed to write off the loan. It is also unclear how his shares will change hands and who will actually get the proceeds. 

Either way, this doesn't look like something that will be concluded quickly.

[Badger 2,405]

3 hours ago, shefcanary said:

Nothing in life is straightforward!  🙂

I think that if the govt were to take direct action against offshore trusts there's be a lot of worried spluttering amongst Tory MPs, donors and press supporters 😄