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James Kent

Response from Peter Cullum

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I have received an emailed response from Cullum for the Towergate chief to buy us out. It seems there is little chance he will.

He says he has been rebuffed twice and he doesn''t feel Delia will release control unless the club gets relegated. He goes on to say we are in a huge world financial crisis and doesn''t currently have the stomach to make a third offer. He also hopes Gunn will produce a miracle to keep us up.

No real news here, but it just confirms Cullum is highly unlikely to buy us out.

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[quote user="Jim Kent"]I have received an emailed response from Cullum for the Towergate chief to buy us out. It seems there is little chance he will. He says he has been rebuffed twice and he doesn''t feel Delia will release control unless the club gets relegated. He goes on to say we are in a huge world financial crisis and doesn''t currently have the stomach to make a third offer. He also hopes Gunn will produce a miracle to keep us up. No real news here, but it just confirms Cullum is highly unlikely to buy us out.[/quote]

I thought Delia had said that she would gladly stand aside if anyone else was daft enough to put their money into the club, if Cullum is telling the truth about her rebuffing him twice and not standing down unless we''re relegated surely she''s telling porkies about having the best interests of the club at heart.

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[quote user="Jim Kent"]I have received an emailed response from Cullum for the Towergate chief to buy us out. It seems there is little chance he will. He says he has been rebuffed twice and he doesn''t feel Delia will release control unless the club gets relegated. He goes on to say we are in a huge world financial crisis and doesn''t currently have the stomach to make a third offer. He also hopes Gunn will produce a miracle to keep us up. No real news here, but it just confirms Cullum is highly unlikely to buy us out.[/quote]still a slim chance tho [:|]

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[quote user="kdncfc"]

[quote user="Jim Kent"]I have received an emailed response from Cullum for the Towergate chief to buy us out. It seems there is little chance he will. He says he has been rebuffed twice and he doesn''t feel Delia will release control unless the club gets relegated. He goes on to say we are in a huge world financial crisis and doesn''t currently have the stomach to make a third offer. He also hopes Gunn will produce a miracle to keep us up. No real news here, but it just confirms Cullum is highly unlikely to buy us out.[/quote]

I thought Delia had said that she would gladly stand aside if anyone else was daft enough to put their money into the club, if Cullum is telling the truth about her rebuffing him twice and not standing down unless we''re relegated surely she''s telling porkies about having the best interests of the club at heart.

[/quote]surely not!!! [:|]

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[quote user="Jim Kent"]I have received an emailed response from Cullum for the Towergate chief to buy us out. It seems there is little chance he will. He says he has been rebuffed twice and he doesn''t feel Delia will release control unless the club gets relegated. He goes on to say we are in a huge world financial crisis and doesn''t currently have the stomach to make a third offer. He also hopes Gunn will produce a miracle to keep us up. No real news here, but it just confirms Cullum is highly unlikely to buy us out.[/quote]

 

I got a very simular response when I emailed him before Xmas.

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[quote user="kdncfc"]I thought Delia had said that she would gladly stand aside if anyone else was daft enough to put their money into the club, if Cullum is telling the truth about her rebuffing him twice and not standing down unless we''re relegated surely she''s telling porkies about having the best interests of the club at heart.[/quote]Depends on what the offer is though doesn''t it?No-one in their right mind would sell the club if it was being massively undervalued.We have been lead to believe that if a sale is made, it''s on the basis of EVERYTHING being sold, all shares, existing debt removed and promise of investment on the player side. Chances are that Cullum is not willing to invest at this level (don''t blame him to be honest).On this basis, neither party would be lying, in that Delia will sell if a strong offer is made, but Cullum being the deal man he is, is likely to be offering way below this, hence the rebuffals.Difficult to comment when we simply don''t know all the facts.

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[quote user="Indy_Bones"][quote user="kdncfc"]I thought Delia had said that she would gladly stand aside if anyone else was daft enough to put their money into the club, if Cullum is telling the truth about her rebuffing him twice and not standing down unless we''re relegated surely she''s telling porkies about having the best interests of the club at heart.[/quote]Depends on what the offer is though doesn''t it?

No-one in their right mind would sell the club if it was being massively undervalued.

We have been lead to believe that if a sale is made, it''s on the basis of EVERYTHING being sold, all shares, existing debt removed and promise of investment on the player side. Chances are that Cullum is not willing to invest at this level (don''t blame him to be honest).

On this basis, neither party would be lying, in that Delia will sell if a strong offer is made, but Cullum being the deal man he is, is likely to be offering way below this, hence the rebuffals.

Difficult to comment when we simply don''t know all the facts.
[/quote]

 

That''s pretty much my view. There is spin on both sides here and we are getting fed scraps without ever seeing the full picture. I really don''t know what to think any more. Obviously the reported contents of the e-mail conflict with the stories that both parties have given to the press, but that''s par for the course with this saga, and the real tragedy is that nothing will transpire in time to save us from what is looking an inevitable fate.

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[quote user="Indy_Bones"]


We have been lead to believe that if a sale is made, it''s on the basis of EVERYTHING being sold, all shares, existing debt removed and promise of investment on the player side.

Difficult to comment when we simply don''t know all the facts.
[/quote]

A question about the debt.  If the debt were unsecured then there might well be a legal requirement for a new owner to either pay it off or at least underwrite it by providing a guarantee. 

But most or all of our current debt is secured against income (including ticket sales) or assets such as Colney.  Would paying it off be a non negotiable requirement?

 

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Delia doesn''t want to sell, despite saying that she will step aside. She has simply overvalued the club to such an extent that ANYONE would be barking mad to agree to the figure.

When we get relegated, I think another offer from Cullum will emerge and it may then get accepted if public support is firmly against her - which is not certain as there are still too many wet behind the ears supporters who still seem to think she is credible - and don''t get me started on that ''she saved the club'' malarky because that''s just a load of old bull.

I don''t expect any of the board to survive IF Delia is bought out, because no buyer would accept it. I''m sure Doncaster is sending his C.V to various parties almost as we speak...

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Good to see the Chief Exec of a company with "serious" intentions of buying another company is corresponding with the other companies customers. For God sake wake up. It doesn''t happen.

 

Can you imagine Alan Sugar emailing customers of  PC World telling them he had tried to buy the company two or three times but the yjust didn''t want to sell.

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[quote user="Spartan"]Get real - Callum was never serious in the first place - just likes publicity!!![/quote]

Spartan there are plenty of anti-Cullum points to be made, some of them quite plausible.

But that''s just ridiculous, you must be on a wind up. 

 

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[quote user="Spartan"]Get real - Callum was never serious in the first place - just likes publicity!!![/quote]

What a stupid comment to make, and why the hell would he want publicity?

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[quote user="Jim Kent"]I have received an emailed response from Cullum for the Towergate chief to buy us out. It seems there is little chance he will. He says he has been rebuffed twice and he doesn''t feel Delia will release control unless the club gets relegated. He goes on to say we are in a huge world financial crisis and doesn''t currently have the stomach to make a third offer. He also hopes Gunn will produce a miracle to keep us up. No real news here, but it just confirms Cullum is highly unlikely to buy us out.[/quote]

Thanks for posting this, I did say a while back he''s not interested for the foreseeable future.

How many more ways do people have to say ''''he ain''t interested'''' ?

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[quote user="colneycanary"]

[quote user="Spartan"]Get real - Callum was never serious in the first place - just likes publicity!!![/quote]

What a stupid comment to make, and why the hell would he want publicity?

[/quote]Spartan is a product of today''s society,  we''re constantly brainwashed with people desperate for fame, for fame''s sake.  Spartan IMO, is making the mistake in thinking everybody who pops up in the media is like that.

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[quote user="kdncfc"]

[quote user="Jim Kent"]I have received an emailed response from Cullum for the Towergate chief to buy us out. It seems there is little chance he will. He says he has been rebuffed twice and he doesn''t feel Delia will release control unless the club gets relegated. He goes on to say we are in a huge world financial crisis and doesn''t currently have the stomach to make a third offer. He also hopes Gunn will produce a miracle to keep us up. No real news here, but it just confirms Cullum is highly unlikely to buy us out.[/quote]

I thought Delia had said that she would gladly stand aside if anyone else was daft enough to put their money into the club, if Cullum is telling the truth about her rebuffing him twice and not standing down unless we''re relegated surely she''s telling porkies about having the best interests of the club at heart.

[/quote]

Our board telling us porkies? Never! [;)]

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[quote user="Jim Kent"]I have received an emailed response from Cullum for the Towergate chief to buy us out. It seems there is little chance he will. He says he has been rebuffed twice and he doesn''t feel Delia will release control unless the club gets relegated. He goes on to say we are in a huge world financial crisis and doesn''t currently have the stomach to make a third offer. He also hopes Gunn will produce a miracle to keep us up. No real news here, but it just confirms Cullum is highly unlikely to buy us out.[/quote]

no joke??

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[quote user="Spartan"]Get real - Callum was never serious in the first place - just likes publicity!!![/quote]

Utter crap!

They wanted 57m

17m to pay off the debt-something with his business success and conections im sure he could have constructed a more appealing payback with the bank.

20m for players-which is what he offered for a place at the clubs board.

20m for shares-which Delia claimed she didnt want a profit on? By my reckoning thats a healthy profit.

So when Delia went on the radio claiming that if anyone wanted to invest 20m in the club, when she knew but we didnt that cullum had already done this-who was the one courting publicity? Whos the one with a restauarant attached to the ground called "Delias"? I think I know who likes the publicity.

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delia is telling porkies then ?

she said noone has made a official approach .

yet cullum said he had been turned away twice.

third time lucky then ??

she needs to go and get back to what she knows best , .....

this club will go under before she sells it , stubborn mule..!!

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