[spireitetoo]

Sammy Spireite, on 22 February 2017 - 09:28 AM, said:

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."

Why was this information not pased on to the swedish consortium instead of just dismissing it outright??

[dim view]

moondog, on 22 February 2017 - 09:32 AM, said:

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

I note that Carson has not said that he told Allen about the offer.

The only difference between then and now is that Carson's arrogance drove the agenda then, and now he's conceded that it doesn't. In fact, he's being crucified and he wants out.

What I find absurd given the enormous figures mentioned is that Allen is willing to delegate this decision when he should be sacking Carson.

We had interest at a starting level that is in DA's ball park, from a consortium known to our largest sponsor who might have endorsed it, and Carson didn't even tell him because he thought he could be Saviour.

[s43spire]

Why does this board keep harping on about a fkin Swedish consortium if they had the inclination and money they would have done the deal or at least gone through the proper motions .they have to deal with shorts and prove that you have the funds this has been the case for months not just put out in a. Statement,if you want to buy a house now you have to prove with the agent you have the money to buy said house this is no different and they certainly wouldn't be telling everyone on a message board.

[Lincs Spireite]

Don't understand why DA said no to 10 mil. Surely he should have rolled out the red carpet and said come in and lets talk.

[s43spire]

Bowzer spirey, on 22 February 2017 - 11:45 AM, said:

Don't understand why DA said no to 10 mil. Surely he should have rolled out the red carpet and said come in and lets talk.

Easy one to answer
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.
Read more at http://www.chesterfi...fP7hJ8XQ2JIR.99

[Mr Mercury]

s43spire, on 22 February 2017 - 11:57 AM, said:

Easy one to answer
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.
Read more at http://www.chesterfi...fP7hJ8XQ2JIR.99

Call me a cynic but recent history means I don't always pay full attention to things on there, Develpment centres, raffle winners, ineligible payers etc etc etc...if you get my drift.

This post has been edited by Mr Mercury: 22 February 2017 - 12:22 PM

[warfey is a spireite]

Bowzer spirey, on 22 February 2017 - 11:45 AM, said:

Don't understand why DA said no to 10 mil. Surely he should have rolled out the red carpet and said come in and lets talk.

BECAUSE HES A GREEDY GREEDY GREEDY MAN

[The Black Triangle]

dim view, on 22 February 2017 - 11:25 AM, said:

I note that Carson has not said that he told Allen about the offer.

The only difference between then and now is that Carson's arrogance drove the agenda then, and now he's conceded that it doesn't. In fact, he's being crucified and he wants out.

What I find absurd given the enormous figures mentioned is that Allen is willing to delegate this decision when he should be sacking Carson.

We had interest at a starting level that is in DA's ball park, from a consortium known to our largest sponsor who might have endorsed it, and Carson didn't even tell him because he thought he could be Saviour.

I might have got the wrong end of the stick, but your saying Carson rejected the offer not Allen? Carson didn't tell Allen? are you sure?

[SpireiteFitzy]

s43spire, on 22 February 2017 - 11:57 AM, said:

Easy one to answer
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.
Read more at http://www.chesterfi...fP7hJ8XQ2JIR.99

There's absolutely no proof to believe Stockholm is telling porkies, in fact his track record when it comes to his knowledge of club issues on here would go so far as to indicate he's telling the complete truth when it comes to the consortiums offer. And if it is true, they offered the requisite amount and extras upon buying and had a viable business plan in place for the club.

Now compare his track record of telling the truth against AC's, bear in mind this statement never would have come out had the truth not been uncovered in the first place, and I know which one I believe.

This post has been edited by SpireiteFitzy: 22 February 2017 - 12:40 PM

[moondog]

dim view, on 22 February 2017 - 11:25 AM, said:

I note that Carson has not said that he told Allen about the offer.

The only difference between then and now is that Carson's arrogance drove the agenda then, and now he's conceded that it doesn't. In fact, he's being crucified and he wants out.

What I find absurd given the enormous figures mentioned is that Allen is willing to delegate this decision when he should be sacking Carson.

We had interest at a starting level that is in DA's ball park, from a consortium known to our largest sponsor who might have endorsed it, and Carson didn't even tell him because he thought he could be Saviour.

He told me he referred it to Allen and it was his decision to turn the offer down

[warfey is a spireite]

moondog, on 22 February 2017 - 12:46 PM, said:

He told me he referred it to Allen and it was his decision to turn the offer down

COS MARK HES MONEY CRAZY AND NOT ONE TOWN FAN THINKS ANYTHING OF HIM

[Cartman]

SpireiteFitzy, on 22 February 2017 - 12:40 PM, said:

There's absolutely no proof to believe Stockholm is telling porkies, in fact his track record when it comes to his knowledge of club issues on here would go so far as to indicate he's telling the complete truth when it comes to the consortiums offer. And if it is true, they offered the requisite amount and extras upon buying and had a viable business plan in place for the club.

Now compare his track record of telling the truth against AC's, bear in mind this statement never would have come out had the truth not been uncovered in the first place, and I know which one I believe.

I've no doubt there was a bid and Stockholm is telling the truth

However, looking at the info he posted I think you can make a bit of a case for the rejection

The 'take it or leave it' nature of the bid and stating that they know a fair price as they are good businessmen - this is pretty obstinate behavior for a group that then go on to call Allen obstinate

The idea of the companies the consortium are involved in doing link ups with local companies, no guarantees that would happen

And the fact that they didn't even attempt to negotiate when the offer was turned down and have already moved on to other projects makes me question how serious the bid actually was

[dim view]

The Black Triangle, on 22 February 2017 - 12:29 PM, said:

I might have got the wrong end of the stick, but your saying Carson rejected the offer not Allen? Carson didn't tell Allen? are you sure?

I'm saying that the statement does not say that Carson referred it to Allen.

[Lincs Spireite]

Well we don't know for fact what was said in negotiations, but I do know that if I wanted out , and someone offered to

give me my investment back, when I was looking at future losses then I would say thanks and take it.

[Guest_freelander2_*]

moondog, on 22 February 2017 - 09:32 AM, said:

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

Assuming he wants the 10 year mortgage provided by A&S to remain, even at £10M, he's valuing his and I assume AC's & SR's combined holding at £4M!

As I've said before, I can't see a price beyond £8M which clears DA's loans and the mortgage provided by his company.

[azul]

freelander2, on 22 February 2017 - 01:45 PM, said:

Assuming he wants the 10 year mortgage provided by A&S to remain, even at £10M, he's valuing his and I assume AC's & SR's combined holding at £4M!

As I've said before, I can't see a price beyond £8M which clears DA's loans and the mortgage provided by his company.

Surely it is nearer £10M id he covers this years projected loss? Then he'll hope to negociate the maximum amount for his shares. Should be in the region of 1p

dim view, on 22 February 2017 - 12:51 PM, said:

I'm saying that the statement does not say that Carson referred it to Allen.

It wasn't a very detailed statement was it

[dtp]

Cartman, on 22 February 2017 - 12:50 PM, said:

I've no doubt there was a bid and Stockholm is telling the truth

However, looking at the info he posted I think you can make a bit of a case for the rejection

The 'take it or leave it' nature of the bid and stating that they know a fair price as they are good businessmen - this is pretty obstinate behavior for a group that then go on to call Allen obstinate

The idea of the companies the consortium are involved in doing link ups with local companies, no guarantees that would happen

And the fact that they didn't even attempt to negotiate when the offer was turned down and have already moved on to other projects makes me question how serious the bid actually was

I'm somewhat with you Cartman.

I believe Stockholm is telling the truth as far as he knows it. This is supported by the fact that AC admits that there was overseas interest. I believe AC had also stated this before but when the consortium were asked for more info and proof of funding it fell by the wayside.

However, whilst Stockholm tells us what these Swedes were wanting to do he doesn't actually say exactly how their interest in CFC was presented to AC, DA, Shorts or whatever when they made their approach. Whatever people might think of the various parties I cannot see that a serious interest, presented in the proper manner, with proof of funding, would be kicked into touch without further consideration.

[Radders]

Cartman, on 22 February 2017 - 12:50 PM, said:

I've no doubt there was a bid and Stockholm is telling the truth

However, looking at the info he posted I think you can make a bit of a case for the rejection

The 'take it or leave it' nature of the bid and stating that they know a fair price as they are good businessmen - this is pretty obstinate behavior for a group that then go on to call Allen obstinate

The idea of the companies the consortium are involved in doing link ups with local companies, no guarantees that would happen

And the fact that they didn't even attempt to negotiate when the offer was turned down and have already moved on to other projects makes me question how serious the bid actually was

I may be a bit naive here but I don't think there is a case for rejection, or at least there isn't one for not pursuing the approach. If I had that kind of money sloshing around in my pants and I made an offer of 9 million only to be told that the price had gone up to 15 mill, I'd probably just walk away without looking into who I needed to offer proof of funds to.
Carson has maintained from the outset that there has been no one interested in buying the club. He puts it on every post - almost like "We couldn't give it away - honest!" Suddenly, because a Bobs Board member comes on and tells us about genuine interest from a consortium the Board (Carson) has to leap into action and issue a statement. My guess is, had Stockholm not come on here telling the story we would be none the wiser and Carson would still be saying - "No one is interested folks!" It does make one wonder if there hasn't been other interest.... after all, people who want to buy can only take it forward if someone at our end wants to sell. Sadly I fear that may be the sticking point.

[spireitenag]

Radders, on 22 February 2017 - 02:46 PM, said:

I may be a bit naive here but I don't think there is a case for rejection, or at least there isn't one for not pursuing the approach. If I had that kind of money sloshing around in my pants and I made an offer of 9 million only to be told that the price had gone up to 15 mill, I'd probably just walk away without looking into who I needed to offer proof of funds to.
Carson has maintained from the outset that there has been no one interested in buying the club. He puts it on every post - almost like "We couldn't give it away - honest!" Suddenly, because a Bobs Board member comes on and tells us about genuine interest from a consortium the Board (Carson) has to leap into action and issue a statement. My guess is, had Stockholm not come on here telling the story we would be none the wiser and Carson would still be saying - "No one is interested folks!" It does make one wonder if there hasn't been other interest.... after all, people who want to buy can only take it forward if someone at our end wants to sell. Sadly I fear that may be the sticking point.

There definitely is and has been other interest but not at a £15 million asking price as was originally quoted.

[dtp]

spireitenag, on 22 February 2017 - 03:07 PM, said:

There definitely is and has been other interest but not at a £15 million asking price as was originally quoted.

I can understand the Board asking for proof of funding and a little more about the people making up any consortium.

I've been involved with the sale of a business with net assets in excess of those of CFC and, I've got to say, for every serious offer there must have been a minimum of 20 time-wasters including a couple of bankrupts operating after changing their names. Now this business was no where near as exotic as that of a football league club so caution will need to be applied to every approach.

Any really serious people making an approach should be quite willing to provide proof of funding before taking up initial discussions. More often than not, the amount a potential purchaser is prepared to pay is not divulged before an initial meeting whilst the indicative price will be known to them.