Takeover?

[Daz Sparks 1,183]

Whilst I've read some of the Mark Attanasio thread, (and I appreciate the knowledge and input of those wiser than myself), I am somewhat bemused by what exactly is happening.

Perhaps someone would be kind enough to lay it out in concise, plain language?

I would be very grateful.

[canarydan23 4,060]

I haven't got a clue, but from what I can gather;

MA and Delia/MWJ want to get to a position of parity (40%) with regards to shareholding.

MA acquiring that many shares would, in normal circumstances, force him to make an offer to buy all the other shares at a certain level (I think the highest amount he paid for the ones he acquired?).

They want to vote through a waiver that means he doesn't have to make an offer for all the other shares.

Essex canary is very cross.

[A Load of Squit 5,221]

Zoe is paid too much.

Attanasio is trying to steal the food from minor shareholders and their heirs mouths.

Delia is going to make a massive profit.

None of the tawdry business would be happening if Ben Kensell was still here.

The away supporters membership scheme is a blatant cash grab.

The club will be selling official sticks.

Burnley are marvelous.

The City elite drummer willbe attending the meeting in order to keep the mood light.

And

Someone will reply to this thread saying 'do we really need another thread about this subject?'

Edited September 14, 2023 by A Load of Squit

[essex canary 506]

55 minutes ago, A Load of Squit said:

Zoe is paid too much.

Attanasio is trying to steal the food from minor shareholders and their heirs mouths.

Delia is going to make a massive profit.

None of the tawdry business would be happening if Ben Kensell was still here.

The away supporters membership scheme is a blatant cash grab.

The club will be selling official sticks.

Burnley are marvelous.

The City elite drummer willbe attending the meeting in order to keep the mood light.

And

Someone will reply to this thread saying 'do we really need another thread about this subject?'

Shows signs of improvement. Might just get a pass mark.

But Gordon Bennett can't we do a little better. Delia won't make a crystallised profit but Tom may well do so further down the line despite presenting himself as an Independent Director. Zoe and/or Delis ought to be ensuring that MA is properly briefed on the issues to ensure that he doesn't exploit minority shareholders. Ben Cansell might have done better but Andy Cullen or even Neil Doncaster would have done better still. No need for sticks if the Club were simply to update its policies and operate them in a fair way rather than just for cash grabs to fund excess wages. There certainly are other Clubs they could look at for examples of best practice.

[Indy 3,315]

1 hour ago, A Load of Squit said:

Zoe is paid too much.

Attanasio is trying to steal the food from minor shareholders and their heirs mouths.

Delia is going to make a massive profit.

None of the tawdry business would be happening if Ben Kensell was still here.

The away supporters membership scheme is a blatant cash grab.

The club will be selling official sticks.

Burnley are marvelous.

The City elite drummer willbe attending the meeting in order to keep the mood light.

And

Someone will reply to this thread saying 'do we really need another thread about this subject?'

Excellent summary! 👍😂
 

And for clarity where do we stand regarding Young Billy McMessi (Gilmour)?

Edited September 14, 2023 by Indy

[Canary Wundaboy 1,360]

6 minutes ago, Indy said:

And for clarity where do we stand regarding Young Billy McMessi (Golmour)?

He's carp, naturally.

[TIL 1010 4,792]

1 hour ago, A Load of Squit said:

Zoe is paid too much.

Attanasio is trying to steal the food from minor shareholders and their heirs mouths.

Delia is going to make a massive profit.

None of the tawdry business would be happening if Ben Kensell was still here.

The away supporters membership scheme is a blatant cash grab.

The club will be selling official sticks.

Burnley are marvelous.

The City elite drummer willbe attending the meeting in order to keep the mood light.

And

Someone will reply to this thread saying 'do we really need another thread about this subject?'

Any particular reason you have not mentioned Cambridge Utd, The Trust or the wicked Zoe Webber.

[A Load of Squit 5,221]

1 minute ago, TIL 1010 said:

Any particular reason you have not mentioned Cambridge Utd, The Trust or the wicked Zoe Webber.

Two out three aint bad.

[TIL 1010 4,792]

2 minutes ago, A Load of Squit said:

Two out three aint bad.

My bad.

[Terminally Yellow 2,477]

2 hours ago, A Load of Squit said:

Someone will reply to this thread saying 'do we really need another thread about this subject?'

Do we really need another thread about this subject?

You're welcome.

[PurpleCanary 5,580]

2 hours ago, Daz Sparks said:

Whilst I've read some of the Mark Attanasio thread, (and I appreciate the knowledge and input of those wiser than myself), I am somewhat bemused by what exactly is happening.

Perhaps someone would be kind enough to lay it out in concise, plain language?

I would be very grateful.

I don't think you are alone. A very brief summary would be that Attanasio has made some big loans to the club, because it has got into significant debt, and is on the verge of buying more shares so he and S&J have the same percentage. S&J stop being the majority owners but Attanasio does not take that role on. Yet.

They both have big minority holdings and for the next three years that will stay the situation, with them voting in lock step. After three years? And does Attanasio want all his big loans repaid? Does he want to become owner? Not clear. There are all sorts of questions like that, especially about money. But nothing in what is happening suggests he is cooling on the idea of taking over.

[cornish sam 964]

1 hour ago, Canary Wundaboy said:

He's carp, naturally.

No, he's just too good for the players around him.

[keelansgrandad 6,679]

1 hour ago, PurpleCanary said:

I don't think you are alone. A very brief summary would be that Attanasio has made some big loans to the club, because it has got into significant debt, and is on the verge of buying more shares so he and S&J have the same percentage. S&J stop being the majority owners but Attanasio does not take that role on. Yet.

They both have big minority holdings and for the next three years that will stay the situation, with them voting in lock step. After three years? And does Attanasio want all his big loans repaid? Does he want to become owner? Not clear. There are all sorts of questions like that, especially about money. But nothing in what is happening suggests he is cooling on the idea of taking over.

How mush do you reckon significant is?

[The Real Buh 3,480]

In a couple of years we’ll all say “hey, remember Mark Attan..Attanaisio? Was that it? Wonder whatever happened there?”

This truly is the getting stuck behind a tractor on the A14 version of a takeover and I’m personally loving it.

[Graham Paddons Beard 2,450]

5 hours ago, A Load of Squit said:

Zoe is paid too much.

Attanasio is trying to steal the food from minor shareholders and their heirs mouths.

Delia is going to make a massive profit.

None of the tawdry business would be happening if Ben Kensell was still here.

The away supporters membership scheme is a blatant cash grab.

The club will be selling official sticks.

Burnley are marvelous.

The City elite drummer willbe attending the meeting in order to keep the mood light.

And

Someone will reply to this thread saying 'do we really need another thread about this subject?'

Post of the day Squit. No question. 

[PurpleCanary 5,580]

2 hours ago, keelansgrandad said:

How mush do you reckon significant is?

Halfway between nugatory and eyewatering.

[East Rider 551]

2 hours ago, The Real Buh said:

In a couple of years we’ll all say “hey, remember Mark Attan..Attanaisio? Was that it? Wonder whatever happened there?”

This truly is the getting stuck behind a tractor on the A14 version of a takeover and I’m personally loving it.

 

From my most recent experience, I suggest the A17 is more apt? 

[Terminally Yellow 2,477]

17 minutes ago, East Rider said:

 

From my most recent experience, I suggest the A17 is more apt? 

Christ are we really now arguing about which road you're most likely to get stuck behind a tractor on? 

[The Real Buh 3,480]

11 hours ago, Terminally Yellow said:

Christ are we really now arguing about which road you're most likely to get stuck behind a tractor on? 

I mean, I’d be willing to extend it to all heavy plant if that’s any better?

[Capt. Pants 4,277]

As from Jan 2026 MA could become the majority shareholder, but either way D&MWJ no longer are the majority shareholders.

MA also can put another person of his choice on the BOD.

My gut feel is the financial position of NCFC isn't going to improve in the next 12 to 18 months without Premier League football and no parachute payments, so things may change sooner than the next 28 months.