Re: Matthew Ellis Takeover : Mon May 22, 2023 7:25 pm  

Mark Voakes wrote:

As things currently stand, there is 4 board members, with Mick and John owning about 47 / 48% each and the other 2 pretty much sharing remaining 5/6 %.

If the takeover goes through, they could just purchase 1873 and its entire assets and liabilities, or a deal could be done that the new owner (s) create a new company, and a selection of assets transferred across (SL license, players contracts etc), and the new stand / stadium remain a asset of 1873 and is leased to the new owners new company.

Its all guesswork and speculation at present what if anything will happen, but if the club is sold, then the current owners will be wanting to make a few quid on it one way or the other.

What a joke of a post, ifs and buts, if my grandad had tits he’d be me :grandma

Re: Matthew Ellis Takeover : Mon May 22, 2023 7:26 pm  

Kettykat wrote:

You’ll quickly find out that those with a long term bee in their bonnet about MC and JM have migrated from the lawless site of Facebook onto this site and will try their best to continue to shed bad light on both regardless wether there is concrete evidence to back up their stories or not

Hi Jon.

Re: Matthew Ellis Takeover : Mon May 22, 2023 7:28 pm  

financialtimes wrote:

What a joke of a post, ifs and buts, if my grandad had tits he’d be me :grandma

Of course its ifs buts and maybes, no deal has yet been done. One of the majority shareholders is happy to sell for a quid, and is absolutely not bothered about his directors loans -doesn't sound like a pretty difficult deal to do if that stance is correct.

Re: Matthew Ellis Takeover : Mon May 22, 2023 7:31 pm  

PopTart wrote:

Correct. I don't.
I don't think he's an angel by any means. But I don't think he's the devil that some think either.

I think he's a guy who makes hard decisions not everyone likes

And you can only judge him on what you know PT, I don’t criticise you for that!

Re: Matthew Ellis Takeover : Mon May 22, 2023 7:33 pm  

financialtimes wrote:

if my grandad had tits he’d be me :grandma

Not necessarily!
Now testicles that’s another story, then again in todays world maybe not

[PopTart]

Re: Matthew Ellis Takeover : Mon May 22, 2023 7:57 pm  

Mark Voakes wrote:

Of course its ifs buts and maybes, no deal has yet been done. One of the majority shareholders is happy to sell for a quid, and is absolutely not bothered about his directors loans -doesn't sound like a pretty difficult deal to do if that stance is correct.

All that means is you don't understand the process.

Selling a house is much easier and that takes ages after you agree terms.

There are also some checks on owners from Super League/RFL if I remember rightly and that's before they've gone through the due diligence on the potential new owner. We've had a few like Pearman or Glover who talk big but then can't back up what they say.

Not a quick process at all.

Re: Matthew Ellis Takeover : Mon May 22, 2023 8:05 pm  

PopTart wrote:

All that means is you don't understand the process.

Selling a house is much easier and that takes ages after you agree terms.

There are also some checks on owners from Super League/RFL if I remember rightly and that's before they've gone through the due diligence on the potential new owner. We've had a few like Pearman or Glover who talk big but then can't back up what they say.

Not a quick process at all.

How many RL clubs have you bought / sold if you know how the process works and how quick it takes?

Ah, for all bad points of Glover which there are many, people tend to forget he also saved the club initially when he took over, and our CEO was FD under is stewardship. Glover also wiped his directors loans when he walked away from the club, lets hope MC sticks to his words and really isnt bothered about his loans if / when this deal goes through.

Re: Matthew Ellis Takeover : Mon May 22, 2023 9:31 pm  

Buying a professional rugby league club in the U.K. typically involves several steps. While the exact process may vary depending on the specific circumstances and the club in question, here is a general outline of the steps involved:

Research and Due Diligence: Conduct thorough research on the club you are interested in buying. This includes understanding its history, financial status, current and potential revenue streams, fan base, stadium situation, and any other relevant factors. It's important to perform due diligence to assess the club's viability and potential for growth.
Contacting the Club: Reach out to the club's current ownership or relevant stakeholders to express your interest in purchasing the club. This could involve contacting the board of directors, majority shareholders, or any appointed representatives. Establishing open lines of communication is essential for progressing further.
Negotiation and Agreement: Once your interest is known, negotiations begin. This stage involves discussing the terms of the purchase, including the sale price, any outstanding debts or obligations, and the transfer of assets such as player contracts, branding rights, and other club-related properties. Engage in thorough negotiations to reach a mutually acceptable agreement.
Legal and Financial Due Diligence: Engage professionals such as lawyers, accountants, and financial advisors to conduct a detailed analysis of the club's legal and financial affairs. This process ensures that there are no hidden liabilities, pending legal issues, or financial irregularities that could impact the purchase. It's crucial to have a clear understanding of the club's financial health before proceeding.
Contracts and Documentation: Once the negotiations are finalized and due diligence is completed, formalize the purchase through legally binding contracts. These contracts outline the terms and conditions of the purchase, including payment structure, transfer of assets, and any other pertinent agreements. Engage legal experts experienced in sports club acquisitions to ensure compliance with relevant regulations and laws.
Regulatory Approvals: Rugby league clubs in the U.K. are subject to specific regulations and governance by organizations like the Rugby Football League (RFL) or Super League Europe. Obtain the necessary regulatory approvals from these bodies to ensure compliance and legitimacy of the purchase.
Transfer of Ownership: Once all legal and regulatory requirements are fulfilled, the transfer of ownership takes place. This involves the formal transfer of shares, assets, and control of the club to the new owner or ownership group.
Transition and Integration: After the purchase is complete, you will need to manage the transition process. This includes introducing yourself to the staff, players, and fans, and ensuring a smooth transfer of management and operations. Develop a strategic plan for the club's future, which may include investments in infrastructure, marketing, player recruitment, and other areas aimed at growing the club's success.
It's important to note that buying a professional rugby league club can be a complex and intricate process. Engaging professional advisors who are experienced in sports club acquisitions is highly recommended to navigate the process smoothly and ensure compliance with all relevant regulations.

[PopTart]

Re: Matthew Ellis Takeover : Mon May 22, 2023 10:17 pm  

There is an equally long list for selling a club.

We are unfortunately going to have to be patient and wait to see how those steps pan out.
As I understand it they are only in the first steps not the last steps.

God forbid any of Ellis's people look at this. Who'd want to take on a club where the supposed fans want to try and criticise every decision, or in fact make things up, just to make the board look bad.

Re: Matthew Ellis Takeover : Mon May 22, 2023 11:08 pm  

What an amazing thread… I’m doing a lot of driving at the moment… so having worked through the (unabridged) Anna Karenina … on audio book … which show my patience at least… I am almost through George Orwell’s 1984… and I’m sure this thread is a direct extract penned by Orwell himself…

Rife with Double-speak… (the ability to hold two conflicting arguments as absolute truth…) misinformation and gas lighting… full of self serving agendas… wow..

On the subject… having watched a previous owner give the club away to a ‘false’ god (who apparently disappeared to Amsterdam) without the appropriate checks and balances… and guarantees… I am happy for the current custodians to take as much time as necessary…

The ‘club’ is more important than its people (substitute ‘party’ in 1984!!)

Hope it all goes well