[Sammy Spireite]

http://www.chesterfi...nt-3588542.aspx

Director & company secretary Ashley Carson has reiterated that owner Dave Allen is willing to sell his majority shareholding in the club, issuing the following statement:

“Anyone who is interested in making a serious bid for the majority shareholding should submit the offer in writing through legal representatives acting on their behalf.
“There is also a requirement for proof of funds for a minimum of £10m, to be lodged with Shorts Accountants, before any negotiations can take place.
“There has been no offer received so far which has met those requirements. A speculative offer from overseas was received in January, but there was no structure to the deal and no proposal to purchase the 83% shareholding, so for those reasons alone, the offer was rejected.
“I have spoken to Dave Allen about the situation and he maintains that he will not sell his shareholding to anyone unless the offer meets his valuation and is in the best interests of the football club.
“I speak to Dave on a daily basis and keep him informed of any developments. If there is anyone who is serious about making an offer for the majority shareholding, I would be delighted to speak to them. I firmly believe that a deal can be done in the region of £10m."

[Sammy Spireite]

I bolded and underlined the bit that made me laugh!

[moondog]

So why didn't he tell the Swedes that ?

However the good news is that Allen has lowered his asking price to a figure that may bring some genuine interest

[hilly81]

This asking price is up and down like the wife's mood.

[Heart of a Niven]

They've only released this because they've been rumbled again.
It doesn't matter if the figure is 15 Million, 10 Million or 50p, Allen will do exactly what suits his game plan.

[bigdbh2]

So IF the Swedish bid was genuine, the club statement tells them that if they enquirer with proof of funds via Shorts they have every chance of buying the club.

The guy who came on here breaking the detail of the consortium should have no problem resurrecting the bid now then......

[bigdbh2]

Heart of a Niven, on 22 February 2017 - 09:36 AM, said:

They've only released this because they've been rumbled again.
It doesn't matter if the figure is 15 Million, 10 Million or 50p, Allen will do exactly what suits his game plan.

I am by no means defending DA but what "game plan" could he have? At the moment he has millions tied up in an organisation that will keep requiring million pound top ups every year and has no realistic chance of repaying any debt in the foreseeable future.

Common sense would take £10m+ and run.

[Sammy Spireite]

Its crazy that here we are, probably 3/4 months since it was officially hinted that DA could sell, and its only just been publicised how interested parties should register interest.

Taking the 2 rumoured consortiums interests at face value, both appear to have just be told 'NO' without explanation.

You can understand people with the opinion that until now, the club hasn't really been up for sale.

Question is, what has forced the change of plan and the 33% price slash??

This post has been edited by Sammy Spireite: 22 February 2017 - 09:45 AM

[Heart of a Niven]

bigdbh2, on 22 February 2017 - 09:43 AM, said:

I am by no means defending DA but what "game plan" could he have? At the moment he has millions tied up in an organisation that will keep requiring million pound top ups every year and has no realistic chance of repaying any debt in the foreseeable future.

Common sense would take £10m+ and run.

If you're playing a short game, yes. However, Allen has had plenty of opportunity to 'get out of jail free' and could have played his card at any point.
I don't think we'll see a sale any time soon.

[bigdbh2]

Heart of a Niven, on 22 February 2017 - 09:48 AM, said:

If you're playing a short game, yes. However, Allen has had plenty of opportunity to 'get out of jail free' and could have played his card at any point.
I don't think we'll see a sale any time soon.

But genuinely, what is the long game?

Championship football and sell for a profit? He'd have more luck spending his money on scratch cards?!

Send us under and end up owning a football ground owing him in excess of £10m and no football team?

I'm not arguing, I just don't get it

Heart of a Niven, on 22 February 2017 - 09:48 AM, said:

If you're playing a short game, yes. However, Allen has had plenty of opportunity to 'get out of jail free' and could have played his card at any point.
I don't think we'll see a sale any time soon.

But genuinely, what is the long game?

Championship football and sell for a profit? He'd have more luck spending his money on scratch cards?!

Send us under and end up owning a football ground owing him in excess of £10m and no football team?

I'm not arguing, I just don't get it

[Heart of a Niven]

bigdbh2, on 22 February 2017 - 09:54 AM, said:

But genuinely, what is the long game?

Championship football and sell for a profit? He'd have more luck spending his money on scratch cards?!

Send us under and end up owning a football ground owing him in excess of £10m and no football team?

I'm not arguing, I just don't get it



But genuinely, what is the long game?

Championship football and sell for a profit? He'd have more luck spending his money on scratch cards?!

Send us under and end up owning a football ground owing him in excess of £10m and no football team?

I'm not arguing, I just don't get it

I'm not saying I have a definitive answer - if any of us did we would be able to do more about it - but suppose he does let us go the wall? Why not do that and wait for an opportunity to turn the ground into luxury flats / dog track / pigeon loft? That's just one of countless possibilities.
I don't know the answer but I do believe the 10 Million is just a figure plucked from the air for the purposes of the statement.
Time, or Bob's Board members, will tell us if any bids come to fruition.

[clarevoyant.]

bigdbh2, on 22 February 2017 - 09:54 AM, said:

But genuinely, what is the long game?

Championship football and sell for a profit? He'd have more luck spending his money on scratch cards?!

Send us under and end up owning a football ground owing him in excess of £10m and no football team?

I'm not arguing, I just don't get it



But genuinely, what is the long game?

Championship football and sell for a profit? He'd have more luck spending his money on scratch cards?!

Send us under and end up owning a football ground owing him in excess of £10m and no football team?

I'm not arguing, I just don't get it

I get the feeling there's no end game it's a game of ad lib and save face. All the ducking and diving fending off allegations made by BB members is taking its toll. Get out with a modicum of pride even if that pride is only personal maybe the only course of action.

This post has been edited by clarevoyant.: 22 February 2017 - 10:27 AM

[Close but no prawn sarnies]

bigdbh2, on 22 February 2017 - 09:54 AM, said:

But genuinely, what is the long game?

Championship football and sell for a profit? He'd have more luck spending his money on scratch cards?!

Send us under and end up owning a football ground owing him in excess of £10m and no football team?

I'm not arguing, I just don't get it



But genuinely, what is the long game?

Championship football and sell for a profit? He'd have more luck spending his money on scratch cards?!

Send us under and end up owning a football ground owing him in excess of £10m and no football team?



I'm not arguing, I just don't get it



Nail on head what the hell is the game plan has there ever been one ?

Did DA purely get involved to be able to prove to his distractors at Hillsborough that he could run a succesful football club, which for a time he did , then get bored and/or found the cost unacceptable.

No one makes money out of league one football ................

[Sammy Spireite]

Heart of a Niven, on 22 February 2017 - 10:00 AM, said:

I'm not saying I have a definitive answer - if any of us did we would be able to do more about it - but suppose he does let us go the wall? Why not do that and wait for an opportunity to turn the ground into luxury flats / dog track / pigeon loft? That's just one of countless possibilities.

there are other plots of land he could persue, for much less than the £10M he'd lose if the club went belly up, if that was his plan.

The old Station Hotel would/will make great luxury apartments, and would be available at less than £1m (when its eventually put up for sale).

What he saw as his exit strategy is still a mystery, however, I'm confident it'll bear no resemblance to what his exit strategy will actually be.

[Mrhappy]

clarevoyant., on 22 February 2017 - 10:11 AM, said:

I get the feeling there's no end game it's a game of ad lib and save face. All the ducking and diving fending off allegations made by BB members is taking its toll. Get out with a modicum of pride even if that pride is only personal.

I think this is true, at least in part.

[bigdbh2]

Sammy Spireite, on 22 February 2017 - 10:23 AM, said:

there are other plots of land he could persue, for much less than the £10M he'd lose if the club went belly up, if that was his plan.

The old Station Hotel would/will make great luxury apartments, and would be available at less than £1m (when its eventually put up for sale).

What he saw as his exit strategy is still a mystery, however, I'm confident it'll bear no resemblance to what his exit strategy will actually be.

I think the original plan was fairly well known; Championship football (remember the 5 year plan) and sell for profit.

Now he has no plan and we are drifting down a browny coloured creek without a paddle.

[Mrhappy]

Club statements such as this should be the starting point, instead it seems they are constructed to try and explain their way out of difficult or embarrassing situations brought on by their own lies or deception.

[clarevoyant.]

Mrhappy, on 22 February 2017 - 10:25 AM, said:

I think this is true, at least in part.

Gamblers like the "wide boy" aspects of life a few of those ventures have failed in our regard

[Sammy Spireite]

Lets consider AC's position in all this.

He gets gifted 300,000 shares, which presumably he'd look to include in any sale that goes through?

IF DA is looking to recoup his money invested, lets say £1 a share

That gives AC £300k, he's worked here, in various guises for 5 years (iirc?) so that £60k a year gross.

He will (or should) have paid tax on his gifted shares, which my brief research suggests would have been 32.5% at 'face' value) so roughly £200k left, or £40k a year.

You could understand why he might be keen to facilitate a deal sooner rather than later.

[azul]

Sammy Spireite, on 22 February 2017 - 09:44 AM, said:

Its crazy that here we are, probably 3/4 months since it was officially hinted that DA could sell, and its only just been publicised how interested parties should register interest.

Taking the 2 rumoured consortiums interests at face value, both appear to have just be told 'NO' without explanation.

You can understand people with the opinion that until now, the club hasn't really been up for sale.

Question is, what has forced the change of plan and the 33% price slash??

To be honest it has been publicised that a bid should be registered via Shorts on number of occasions. It is the first time I remeber seeing it in writing.

Also I'm not convinced he has slashed his price. I read it as buyers have to submit proof of £10M funding then DA will consider selling his shares. I assume that's where the negotations would start for the shares.

Who knows what the exchanges really were between intersted?