It is looking as if Tony Fernandes's bid hasn't got wings after all. The boss of Air Asia has said that he is worried for the future of the club but isn't willing to commit any cash to saving us, preferring to play with Dinky toys rather than Subbuteo.
It is hardly surprising that, in a week where yet another airline has gone bust, Fernandes is none to keen to take on such a risky investment. Formula 1 has a global market and is something of a cash cow, unless you make the mistake of running one of the teams. The same goes for football. If you owned the Premiership, you would be laughing, but own a team in the Premiership? Who would be stupid enough to do that? Only a complete Icelandic merchant banker!
So, with Intergroup not making any noises, it looks like it may be the two Davids or nobody. Talk about being caught between a rock and a hard place!
I can't see any last minute reprieve from any buyer coming along.SULLIVAN and GOLD are holding out with their initial bid £50million bid,to see what happens.STRAUMER say it is well short of the £80 million asking price .On top of that,of course is the £40 million debt the club owes.Thats a total of £120 million ,just to break even ,without funds for any funding for transfers.So they will be waiting for a long time if they expect a buyer to come in with those figures.Maybe a consortium of different investors could be the answer,like the Intermarket group,but that seems to have died a death.It just seems our debts are too much of a turn off.
ReplyDeleteYou left out the whole line of reasoning as to why in this article.
ReplyDeleteIt's got little to do with Airlines.
Fernandes has stated that a) Setting up his F1 Scaletric set would be too time consuming to allow him the necessary attention to deal with this and the second reason b) That the clubs balance sheet is 'poor'.
Basically despite Bernhardt being 'furious' about the way the clubs finances have been reported in the press the fact is that effectively 3 parties have entered due diligence a) Intermarket have gone quiet implying that they simply do not have the financial backing to dig the club out b) Fernandes has just run a mile and c) G&S have offered what seems like a derisory offer in comparison to the Straumur value.
The fact is we are on extremely shakey ground, have been for a while and will be as long as Bernhardt and his cronies hold West Ham respnosible for the £40m 'gift' of players from BG which turned out in fact to be a dodgy loan.
The only hope is that Zola and Clarke can get our ensemble of kids, mercenaries, foreign show ponies and the odd player who actually seems to give a s*** to hold it together and achieve safety so that the Sky TV money from next year can reduce the ridiculous asking price.
I think that they would both be foolish not to meet half way.
ReplyDeleteMaybe £65m would do the trick.
After all, there is £7m sky money coming into the club in Jan and this is why I think Gold & Sullivan have said that they want a deal tied up before xmas.
And another thing.
ReplyDeleteThe biggest worry I have is that this debt wont go away for a number of years, leaving us in limbo & unable to move forward as a club or business which is built on solid foundations.
The Only way that I can see us moving forwards is to sell the bulk of the squad thus reducing our overheads from the silly wages we are paying to a good number of the squad, use the money to pay of the debt's.
This would mean going down and staying down for maybe a couple of years, but we must bring in a few old heads who are out of contract and most important of all keeping hold of our kids, this would also give them the time to grow as players out of the top flight spotlight with all of the presures that come with it.
I hope I am wrong with this and we can resolve our desperate situation another way.
Thought for the day:
EVEN HAVING A KICK UP THE ARSE IS A STEP FORWARD.
Straumer and myself would rather see us relegated then these two nobs take over (I feel that strongly about it)
ReplyDelete