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Irregularities and Exclusivity
The Birmingham Mail yesterday confirmed that a consortium headed by former BCFC employee Peter Day and former Swindon Town chairman Jeremy Wray were the bidders for a stake in Birmingham City. However, there is controversy as the company secretary of this consortium was banned by his profession’s governing body for financial irregularities at Luton Town.
Companies House filings give the company secretary’s name as Derek Peter. Peter was banned from being a director for seven years after a trial in the high court in 2011 for breaching rules with respect to payments made to agents and for issues with the taxman that saw Luton Town owe around £3.6M to HMRC. As company secretary he wouldn’t be required to take the owners and directors test – but I can state for a fact that it bothers me massively that someone in a prominent position within SMW (which is based at his accountancy practice in Whetstone) has this hanging over him and I wouldn’t like to see a new owner starting off with controversy involving dishonest dealings in football.
Jeremy Wray was formerly chairman of Swindon Town and stepped down from that position in 2012 following the “specific request” of majority shareholder Andrew Black. Black is a founder of Betfair along with Wray’s brother Edward amid speculation surrounding Paolo di Canio falling out with the ownership at the County Ground with respect to the transfer embargo that they were operating under.
The filings I pulled from Companies House also explain why I was originally mystified by the announcement made by Pannu on Tuesday. I was under the impression that it was an Australian consortium only to be told in that statement it was a British consortium with North American backing. SMW did have two Australian directors – Leon Gardikiotis, a former player and coach who once managed the Tahitian national team and has links with academies in Brazil and Australia along with Gavin Sheehan, a Melbourne-based rose farmer who was fined in 2012 for underpaying his staff.
One alleged member of the consortium who does not appear on the companies house documents is Ray Mann, owner and operator of West Wales Airport based in Aberporth which is developing as a new airport for passenger flights and also for unmanned aerial vehicles (UAVs), more commonly known as drones.
What concerns me now is that we have a similar situation to the Paladini one in that we have a bidder who has gone public and has announced it is them looking to buy the club. As I understand it from sources in Hong Kong SMW have broken non-disclosure agreements by confirming this to the press; it’s also my understanding although I cannot independently verify it that there is no period of exclusivity in place, contrary to the claims made by Wray. I think that any period of exclusivity would have had to have been announced to the HKSE and the statement made on Monday only talked of an “indicative, non-binding offer”. As of 08:00 BST no further announcement has been made by BIH.
As with everything in this saga, all we can do now is wait for further developments and hope that this twist doesn’t throw everything back into chaos.
158 Responses to “Irregularities and Exclusivity”
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Maybe they have learned from their mistakes and will do everything by the book from now on. Anything is better than what we have had for the last three years. At least they are in the UK and can’t hide from us!
Why on earth do these people break nda …….
i am wondering why some think that being a season ticket holder makes them a better quality fan. ( my guess it is an ex 606 user )
in the past season ticket revenue would form the bulk of transfer fee monies.
does anyone on this site actually believe that this lump sum would end up anywhere other the hong kong ?
another question might be when do bcfc receive the parachute payment.
perhaps this whole take over is a time buying exercise, nothing signed nothing sealed, still don’t know who holds the cash.
now that blues only have one scandalous wage packet PP.
why is Lee Clarke still not promised any funds ?
if the bid is serious, and the new owners intend to operate blues day to day, surely the most sensible thing to do would be to re-establish a first team squad.
buying a ticket one game at a time raises more money for the club. as it is a more expensive option,
as the season ticket money will not be spent on the squad, i will be buying mine in tranches, just like our owners like it.
If as you say the money goes to Hong Kong. Where does the money come from to pay the players, staff and running costs?
Hong kong, but they will only pay out what is basically required, they have to honour all contracts until June 30th, these still include the high earners like Ziggy. Without any revenue coming in they are literally relying on and dependant on the early season ticket sales.
I would imagine that any incoming owners would want to begin with a clean sheet after the 1st July, new contracts etc.
They would also receive any sponsorships deals, media and commercial sales plus season and match day ticket sales.
Hopefully they will have money to invest in the playing staff prior to the 1st of July, but that will be down to the legalities of the contract if they are to purchase only 24%
KRO+DNM
would love to know their thoughts on the parachute money for next season having already been spent or factored into the turnover, as has been rumoured.
I would be asking for at least an equivalent reduction in the sale price or the controlling rights in shares.
If the rumour is true I feel that BIHL are using the money to finance the contracts until June 30th.
KRO+DNM
so BIHL might go bust without the season ticket early sales.?
then a genuine buyer could purchase the club without worrying about stock exchange rules direct from the administrator.
and BIHL would no longer be a part of BCFC.
10 point deduction and a new chapter.
or would you all prefer to sell the next butland, redmond,
mutch ? to prop up owners who never had the cash to buy blues in the first place.
and brace yourselves, this current deal is going to fall apart
Not an ideal scenario but administration would force the sale in one transaction and BIHL would be history.
BIHL cannot afford that, but as the seller they are calling the shots. Maybe they are not as desperate as we are making them out, they are just being frugal when it comes to BCFC?
KRO+DNM
agreed chris administration will never happen, too much money attached to the to bcfc……they hold the 100% outright….this loaning 24% to get equity flowing……They have already mentioned bcfc will not be up for full sale……they shown great determination not to give a inch when it come to bcfc……hope you liked the new prices regarding the st…..kro
Was hoping that new owners would have reduced the price, my ticket works out at £20 per game.
I have a feeling someone will force BIHL’s hand or call their bluff if this SMW consortium fall through or BIHL pull the plug over the NDA.
Admin would be the most likely option if we are to rid ourselves of BIHL and start with a clean sheet.
KRO+DNM
Well said Ian I agree mate.
Could only happen to us FFS.
Well IMO I think its bye bye them…….rules are rules
Dont think that will apply in this case Mark,
Why does this club always seem to attract the wrong people,they haven’t even bought us and already there seems something dodgy (Derek Peter) plus looks like they have broken a “n.d.a” why should we put up with this kind of rubbish all the time everything about this seems tinpot.
Better to keep the little devil you know than the devil you don’t know …..
EEERRR No its not Mark
Let’s hope this bid bites the dust. These characters will be no better or maybe worse (if that is possible) than BIHL. Saying that they seem like ideal bed buddies.
Have a look at some of the Swindon fans messages on their local rag…. might give you some cause for optimism :)
No it won’t. Don’t forget as well this guy appointed Di Canio.
Although I wouldn’t want Di Canio as Manager, his win ratio of 67% at Swindon was excellent.
So i guess Wray should be given credit for that.
That was in league one and a £10 million debt incured chasing the dream of promotion.
that seemed from what i have read to drive the owner (Black) to sell up.
absolutely right chris and we are debt free i might add,,,,,,,,,,,
We are debt free at the moment Mark, according to BIHL and the audits, but why have the audits never been signed off by the independent accountants. Usually they state inconclusive paper trails.
I would put my mortgage on new owners claiming the financial situation at BCFC is not what it seems and much worse.
KRO+DNM
With a win rate of 67% that is considerably better than we are used to. forget Di canios alleged politics. we want a football manager not an ambassador
he took them to league two first along with Fitton, who then left.
got them into league one and spent more than club was earing and ended up with a transfer embargo.
how is that a cause for optimism?
from what i have read they liked him as a bloke, but as a director / chairman he took the club to the brink along with Di Canio who spat his dummy out when the cash dried up.
Former Town chairman Wray tells why he was shown the door (From Swindon Advertiser)
What staggers me is why BIHL deemed this the best bid to move forward with! Looks like another classic example of BIHL decision making.
I think the fans’ view of what represents the “best” bid differs quite considerably from that of BIHL.
‘aint that the truth.
Best bid could translate to only bid!
It’s not.
In that case then Wray and co must have proven they are good for cash, and on knowing more bids were offered im willing to pass judgement until more is revealed,there has to be more to them than what the search engines are finding, time will tell for sure
Dan- as we clearly have already said we have chosen a bid- can you now enlighten as to the other bids and who they were from?
Actually Dan has not given us any information at all,his info came from the Mail, all the stuff regarding the interested parties can be obtained from company house..
Never said he had revealed anything. But am asking if he can tell us anything about other bidders, now their bids have been knocked back.
He cant Pete because he does not know
best bid in BIH eyes, probably only ones who will take just 25% cut of club, at a guess they may only have enough money to buy 25% and it gives them time to raise the rest.
Wher have we seen that scenario before??
Our club seems fated to attract negative attention, Some real clarity would be nice.
Going by what you have found out Dan; it doesn’t look good at all. We need owners who are here for the long term progression and stability of BCFC. Going by the aforementioned people involved in this deal; it appears clear to me that the only people who will deal with BIHL are the same type of people as them – regardless of nationality. No-one with any credibility would give BIHL the time of day, let alone sit down and do a deal with them.
Just a small correction Dan; Leon Gardikiotis is not technically Australian. He did play and coach here for a few years but he is German-born of Greek extraction. To my knowledge, he does not live here any more and is working in Greece. It’s like calling Emile Heskey Australian. BTW, he just got married, congratulations Emile!
No mention of Andrew Fitton? Is he in the background?
I went by wikipedia which says “Leon Gardikiotis (Greek: Λεωνίδας Γαρδικιώτης, born 27 February 1964) is an Australian soccer coach and retired player. He was head coach of the Tahiti national team at the 2000 OFC Nations Cup. He was head coach of Springvale White Eagles for a brief period in 2007.”
No worries Dan,small matter…wiki is often not up to date.
Fitton still linked to Wray on this site updated 2013
http://www.gracchi.co.uk/key-personnel.php
also FSA info on same firm
https://www.fsa.gov.uk/register/firmBasicDetails.do?area51=true&sid=97706
Wray here:
https://www.fsa.gov.uk/register/indivBasicDetails.do?sid=506771
with one business Hartmann Capital Limited in “Authorised – In Special Administration”
https://www.duedil.com/director/914129309/jeremy-philip-wray/directorships#widget_directordirectorshipsdocwidget
I believe blh have done everything by the book why oh why did consortium break the NDA . knowing full well the possible repercussions were in doing so.
Wray has been getting positive testimonials from Swindon Fans. They say his only fault was allowing Di Canio to spend too much.
NDA rules broken. Isn’t that what did for paladini’s bid according to BIHL? I wonder if they’ll apply the same rules with this new consortium, if not it’s hard to trust anything they say.
Where’s the season ticket details?
http://mobile.bcfc.com/news/article/20140530-201415-season-ticket-information-1583182.aspx
They’re up now Paul.
I was feeling very dissapointed with the outcome of the preferred bidder, but like Big Al I have found the comments from Swindon fans very re-assuring. I just hope there is no massive spanner in the works due to them breaking the NDA (if there was one)
there’s also Swindon fans who said he was to blame for nearly bankrupting the club, spending beyond the clubs means and leaving the club with debts he and Di Cannio built up leading to a transfer embargo.
I now officially give up on this whole drama
So what would you be happy with? Keep pedaling this indignation and keep the site traffic coming in, or do the majority of fans and more importantly the takeover bid a favor and sit on your hands for the time being.
What and ignore the pretty obvious like so many did last time with their head in the sand concerning Yeung.
Many ridiculed the few of us who tried to warn that he had no money, which was even bourne out by the fact he could only buy 29% of the club then had to go back and raise a share issue for the rest.
We should be sceptical and raise the doubts NOW, not when the deal is done.
If they want to show boat and let the world know who has made an offer then they have to expect questions on their motives and qualifications to take the club forward on and off the field.
Both parties want to sell season tickets. Is it possible the announcement of their identity, which by pure coincidence came a day before the ticket prices were announced, was staged with the consent of both parties?
I think you have something there. The only way Jeremy Wray’s public announcement yesterday makes any sense is that he had Pannu’s blessing to proceed.
I suggested that on another thread a couple of days ago and it got pulled
Paul
Last warning. Do not tell people what to do with respect to season tickets – I’m tired of you causing arguments. Stop it or be banned for good.
Weird.
Urging fans to support the club and you get banned. You don’t do the same to those who urge not to.
then is a voice not a voice Daniel, if fans disagree with Paul notion then they will surely decide for themselves……..
if one’s opinions is in the best interest of bcfc sure this cannot be knocked?? just thought my opinion…
Mark
You fail to understand the point. This is MY site – not yours. I’m the bugger who gets into trouble because of comments, I’m the poor bugger who has to delete the arguments and I won’t have it.
Freedom of speech is the freedom to start your own website and run it the way you see fit. My website, my rules. Simple as that.
Well said Dan, your site your rules. Without you we would have no information.
Yes we would
are we all not working, and having opinions regarding our club, and discussing in the best interest of our club….
WOW! You’re gonna get in trouble because someone posts on YOUR website for people to buy season tickets. Read the posts before you presume.
and you call posters idiots?
The site was closed due to comments posted months ago, was you about then?
To be pedantic the site wasn’t closed, commenting was.The site was still very successful without comments.
Point taken.
How can you judge that with no comment traffic Dan?.
because the hits the site receives, how long they stay on the site etc, Dan will get loads of info from his isp.
Dan looks like some people need an explanation of the difference between a blog and a message board:
blog
noun
1.a personal website or web page on which an individual records opinions, links to other sites, etc. on a regular basis.
message board
noun
an Internet site where users can post comments about a particular issue or topic and reply to other users’ postings.
Mark I will leave the good fight up to you mate.
It’s weird to me to be threatened with a ban for urging others to support the club as a counterbalance to the many urging everybody not to renew but Dan’s right, it’s his site and I wont stop posting to that effect so my position is untenable and unwelcome.
I’d just like to wish Dan and this site all the best before I go. I have just renewed my 3 STs for the Kop and look forward to next season.
you will always be remembered as a champion of our club, like you the lack of counterbalance appears to be missing some what…..in all walks of life there is a counterbalance.
Agree with you fully i equally look forward to next season with Clark at the helm, and watching our new look young players take the stage……kro forever blue
No, it’s called being banned for being an argumentative idiot who won’t listen to reason from the site owner who is absolutely dog tired of having to delete posts caused by stirring from you.
Before you give it the big “I’m being untreated fairly” I’ve had EXACTLY the same conversation with one of the people on the opposite side of the fence.
In short, grow up or bugger off.
It’s my site….oooh, throw your dummy out.
Calling someone an ‘argumentative idiot’ does noot help.
Grow up and act like an adult!
I’ll now get banned. Oh well back to work
Good on you for renewing your Season Tickets.
I agree with Paul I’m gonna renew today the guy is vilified for loving our club
No, he is vilified for abusing anyone who disagrees with him. Fair play to him for his undying devotion to the Blues, but telling anyone they are not REAL fans because they truly believes that holding their money back from BIH will make a difference……. that is what is out of order and has become boring
I can’t buy because im skint. But I urge those who can to buy for the sake of those 11 on the pitch not the faceless doom mongers. Stay quite and see what develops, see whats said and what statements are made and then reserve judgement. All this bleating isnt helping anyone!
Agreed. I’m so bored of reading “the voice of reason” crack on about the same thing over and over again. It is in literally every thread, no matter what it’s about.
Paul is vilified because he calls people Fascists,Racists,and disloyal for not renewing.
He was hardly telling people what to do, he was just showing a bit of passion
after months of uncertanty
The same way others show passion and are berated by him and other users for an alternate view.
You didn’t mention the Spurs connection. From website of his accountancy practice
“Derek qualified as a Chartered Accountant in 1973 serving his articles in a medium sized firm in The City. After qualifying he joined KPMG initially in the London office, then in the San Francisco office and then became a partner in the Bahrain office in The Middle East. In 1982 he became Finance Director of Tottenham Hotspur PLC and was instrumental in taking the company Public. He now specialises in providing consultancy services to small and medium sized companies.”
a bit like PP IMO
The Luton one is more pertinent and recent.
Wow and we thought the current owners were a team of dodgy people. I cant wait for the next announcement, Al Capone enter stage right.
I’m waiting for Bernard Madoff to throw his hat in the ring.
I hear he’s looking at entering into a consortium with Allen Stanford
Why does everyone just not sit tight and see what they have to say if they do intend to buy into our club, you can research and find details all you like about their past history at Luton or Swindon, but the main thing is now it’s 2014 time as passed people change in business, learn from mistakes.
We are in a total mess with the people in charge now, in fact the worst position in our history with regards to finances and the running of the club.
We need change, these people may be wanting to come in and put the club on a more stable footing and allow it to flourish a little in terms of being able to purchase players for a change, and then even they may decide to sell when we are a better prospect to the richer business men who at present would not even take a second glance at us.
All this moaning and groaning from people is doing no good, we should sit tight and see what they intend to do, they just can’t put us in a worse position.
Glen, if we are not concerned as fans about who might buy BCFC then we are not worthy fans. So we should have just sat tight when a now convicted money-launderer bought the club in 2009 eh? Well I guess we did but there is something called learning from experience….This forum and SHA are doing a fantastic job of illuminating dark corners. As for skeletons in closets; I don’t think one banned director and another director who is named by the FCA in the winding up of a capital fund that should have had 36 million pounds of investors money in it but was well short because of excessive dipping in, are ‘skeletons’. The latter was just 5 months ago and is on-going; the FCA had to freeze all assets and prevent further drawing down from investor funds. These are walking, bone-on-flesh people who need to pass supposedly stringent tests to own and run a football club. More importantly they need to win the respect of fans, some of who have been actively around for 50 years and have seen half a dozen owners.
You have your opinion I have mine and we are both entitled to it.
In my case I don’t care what they have done in the past as long as it’s not murder child abuse or anything similar .
As in business we need to hear from the people concerned to be able to give a real view on what they really have in project for the club.
As do you know in truth what their intentions really are, who the backer from the North America is? If so I’d be pleased to hear it
For me I’ll sit tight and wait to hear from the people themselves what they intend to do and not knock them or moan at them before they have even come to a full agreement to purchase any part of our club
As to say I’m not a worthy fan due to my opinion is a very low punch and I’d never call a fellow bluenose not worthy whatever his opinion
Glen mate I did not say you are not a worthy fan; that’s your misinterpretation of what I wrote. I said ‘if we are not concerned who owns BCFC then we are not worthy fans.’ You are concerned otherwise you wouldn’t comment. Would you agree that we’ve been burned, ripped off, exploited and lied to for the past 5 years? No probs with different opinions mate; I’ll defend to the death your right to express them.
Yes I agree we have been ripped off and near destroyed by these owners.
What I am trying to explain is I just wished people would give them a chance to give their ideas of what they want with the club and their intentions of getting it going in the right direction, before pre judging them in not knowing all the facts in what they have planned or who else maybe behind this bid.
They could turn out to be the best thing, none of us know.
We as fans have to be patient and in my opinion not scream and shout and moan about things they don’t really know about yet .
Yes I can be concerning when you hear bad things that happened years ago, but as I say that’s then. People change.
Of course they could put us in a worse position if they turned out to be more inept than the current lot.
Ask Portsmouth fans if a new owner could be worse than the current owner in charge, when Vladimir Aleksandrovich Antonov took over from Sulaiman Al Fahim / Ali al-Faraj .
Well that’s my opinion, I am prepared to listen to them and form an opinion of could they be right then, not now when in fact no one knows what they are planning.
That’s all I’m saying no need for history of other clubs ffs
Must say I totally agree,there is too much analizing of possibilities, personally I am not concerned about peoples past nor their politics for that matter.
I totally agree Glen. What would some of these moaners and nitpickers be saying if the preferred bidder was Chinese? They’d be having an apopleptic fit!
Well said Paul. Support the club not the owners. wtf is wrong with that?
You are Paul in disguise. Only 5 posts, all on this thread. Don’t be afraid of who you are.
Nope. Just read the tweet and followed the comments and had to laugh. And comment
Lol He must think we are all stupid.
On the Gold Coast Australia actually
Yeah, and I’m writing this from PPs office while he’s making me a coffee.
This is all boring me to death now. Can we just drop it.
While I understand the suspicion and scepticism over this bid, would it not make more sense to hold back judgement/first impressions until we actually know who the people are who would be financing this? I.E the American buyer(s)? One former bad apple doesn’t spoil the whole bunch?
Why don’t fans take in what they read????
Sick of seeing people saying ‘American buyer’ .
BIH never mentioned an American buyer, it’s an American Investment fund, it doesn’t mean they have any money but it might be used for collateral purposes for yet more loans heeped on the club, but i don’t know enough about these types of funds.
“BIHL remains in advanced talks with a British consortium with a very strong North American investment fund”.
The only thing i have seen concering an american buyer is the wind up on Davo’s Twitter
at https://twitter.com/often_partisan/status/471702414362705920 very funny
a prospective buyer who uses the bus!! class.
lmao – love it !!! small heath Colosseum lol
Apart from the bickering between some on this site I think things are going well. The season ended for us on 3rd May and we now have progress with a bidder and I feel before long, some funding at last. Before the transfer market opens we may have money to spend. Nil desperandum. (Don’t despair and KRO.)
I agree with Glen. What is this almost voyeuristic obsession (to coin a phrase) with whats going on in the background? So some people have got some skeletons in their cupboard…wow now theres a massive surprise. I suspect all this frustration is because people think some billionaire Russian oligarch or an Arab oil sheikh is going to come along and pour millions into BCFC….its not going to happen folks
I would say for most of us it’s a case of “once bitten, twice shy”. Having lived through the Carson Yeung circus since 2007, I am very keen for BCFC not to be sold to another chancer who will drag the club down.
Imagine a spectrum of potential owners, with a sheikh/oligarch at one end, and Peter Ridsdale/Ken Bates at the other. Based on their backgrounds, where would you say these guys sit?
Can you blame any of us for being concerned at their histories?
I remember the days of Ken Wheldon when they took bulbs out of the floodlights to save on the electric and the ground was like a dump. I recall all the negativity around Sullivan and Gold coming in and some people never took to them…yet we enjoyed some of our best years under them. I honestly dont know what motivates anyone to buy a Championship club, esp Blues with our yoyo history …theyre never going to make a fortune. And in our case, whether we like it or not, we have to accept whoever is coming in irrespective as to where they are on the acceptability scale
I remember those dark Wheldon days too, more life in a morgue. You could hear the players talking to each other.
I liked the GSG regime, they were business people but also had Blues at heart. Yes, everything they did was for their gain and maybe they did sell to CY knowing more they let on, but we still enjoyed success with them.
We are just showing some affection for the club and don’t want to see lightening strike twice.
It is possible that these people are just pawns for some real money people, in which case they are honouring the NDA.
KRO+DNM
Does anybody have any idea how the timeline for the summer is looking now? Wray mentioned a 3-week period of exclusivity to do the due diligence, which takes us to mid-June – then what? Assuming SMW want to proceed at that point, how long will it take to go through formalities in the UK and HK? Are we looking at sometime in July before anything can be done for the team? How many Bosmans and loans will still be available at that point? Any thoughts?
I agree Luke. I have to admit, I am pretty deflated. I am keen to hear what these people have to say, and what exactly they intend to bring to the club, but the indications that things have not been dealt with properly or in accordance with protocol is only likely to elongate an already lengthy process. There is NO time to waste. Even if they are decent people who could be good for the club, (and that has to be proven), in terms of the team, it will be too late for them to make any wholesale changes, which will leave us sadly lacking for the start of the new season, and therefore fighting the odds from day 1? And that’s if they are to be allowed any control with their 24% share? That too is yet to be verified.
Thanks Dan for another in depth insight.
Since yesterday’s announcement there have been plenty of dirt thrown up regarding SMW and those involved from several parties. You obviously have access to delve even further along with friends better placed.
I was wondering about the Non-disclosure agreement, but as they claimed exclusivity assumed it was in the open to the general domain.
It doesn’t exactly fill us with enthusiasm and the more people dig and find the worse it appears.
Hopefully the Football League will be keeping a keen eye on the situation and will also be investigating in advance. The HKSE are unlikely to take action unless any of their rules have been broken, if so could they refuse any proposed sale?
KRO+DNM
noted that wray has made a public response on bbc sport website……i would be interested in the next next few days the response coming from BLH
These agreements are made for legal reasons so surely BLH will need to come out, and make further statements to say whether this bidder time is up and that they have shattered the agreement under NDA??
I hope the Blues Trust is preparing a dossier to convince the Football League that these guys should undertake the Fit and Proper Test
A good idea, beegee. Maybe e-mail Blues Trust and ask them to do just that.
Beegee.
Have you checked out the Blues Trust web page? Last posting I could find on there was dated 26 May (which I think was before Jeremy Wray’s name was linked with BCFC).
This can only happen to us can’t it? We just keep giving ammunition to people to want to take the proverbial.
I had high hopes of an end to our nightmare and for new beginnings with a half decent owner and wham!! Okay, I may be jumping the gun a bit and I really hope that’s the case but come on……..people with an already dubious reputation turn out to the Boards preferred bidder for Pannu’s “beloved football club”!!! You really couldn’t make it up!!!
I think we should at least give these people a chance, remember everyone has skeletons in the cupboard just look at our primeminister and the American president both of whom don’t deny they dabbled with drugs earlier in life and look where they r now,bit heavy I know but just goes to show everyone makes mistakes as they go through life, people change as they get older and wiser and maybe its there time to prove themselves KRO
I don’t think Cameron and Obama smoking weed in their past is a particularly good analogy. This is more like Rob Ford, the current Mayor of Toronto, who has recently been caught drinking and driving, being blind drunk in public, and smoking crack.
Those pair are guilty of a lot more serious stuff than an occasional spliff rivers.
Totally agree mate but the whole truth would have been a bit OTT for a football comments site lol KRO
Guess you are right lol oops
We do need to await more information, who is who,?. are these the actual buyers, ?. or are there others behind them, ?.
People seem to be ignoring the fact that so far it has only been announced that 24% is up for sale, the prospective investors might not have any say in the running of our club and are just working on a short term investment, I know thats not what we want to hear but we can only work with the facts given, knowing our current owners, they are only interested in trying to maximise their return.
I doubt they are going to buy 24% and let BIH continue to f##k it up
I agree Glen. Lets sit tight and wait for the process to unfold. Dans info may well be wrong and all you do is get the moaners going. This blog has been great up until now when we should wait for the outcome of this process and not interfere with it.
Why has Wray only just joined Soccer Management Worldwide this month?
Then two weeks later they have a bid for BCFC accepted.
He joined up with Fitton and Black at Swindon, does this mean he is using SMW as a vehicle to buy the club with the actual owner yet to be divulged?
A ‘stalking horse’ is the term they use; and I am 100% you are right Chris.
Please look at Vital Football who heard very positive comments from Swindon fans. Dan did you remove my earlier comment supporting Glen and saying please let the process unfold and not get the moaners going.
Nope, I didn’t remove anything
PS I liked the info from Wray – and given that he had been spotted at St Andrews no wonder he had to respond to the media. We need communicators now after past few years of silent owners.
just come back from my hols to see that we are being sold to people with no real money and of dubious character ….that will make a nice change .
They are a front I expect
For a Large American Hedge Company.
To a large American Investment Company. ( sorry, messed my Edit up)
The club is in private hands and the owners will clearly sell to anyone that meets their bidding criteria at the greatest return. They are exiting, so their interests are not aligned to those of the fans in most regards. They want to maximise return on investment immediately, we are looking for long term stability and growth.
The fact that the preferred bid is backed by an investment fund infers that someone can see an opportunity to make some money. Any investment firm is beholden to its investors to generate returns.
So how would an investment fund see an opportunity to make money from Blues? I think we can simplify to three broad possibilities:
1. buy and sell at a profit
2. buy and break up the asset (components are worth more than the sum of the parts)
3. buy and reap returns over a longer term
My personal view is that the first of the three is the most likely. The protections on St Andrews secured by the Trust make option 2 difficult (thank goodness). Option 3 is a tough sell to any investor – very few football clubs make any kind of sensible investment return over a prolonged period.
Let’s face it the club as it stands is a distressed asset. I think an investor could see potential to address some of the fundamental problems, deal with the nightmare legacy ownership issues and dress it up for resale. Clearly you’d need a few people that ‘know’ football to get the situation improved.
Question: would this outcome be that bad for fans? I think it could be worse. Any investor will only make a return by adding value to the club. Any costs will be scrutinised, and investment capital will be limited, but I suspect there will be a budget to get things in better shape.
My feeling is that a transitionary period of ownership followed by a resale might be a good thing. Perhaps this is rose-tinted thinking (I am optimistic by nature). But there is some logic to my thinking – I can’t see that running the club any further into the ground will make a return on investment.
I never really felt that a ‘sugar daddy’ owner was a likely outcome. I also feel that the fan-base will need to compromise between what they would ideally wish for in the new ownership and the grounded reality of who is out there willing to deal with the current owners.
Great reasoning mate. Let us hope and pray that your thoughts turn into reality,?.
I have one issue with what you are saying – it’s not a preferred bid, there has been no announcement confirming that status.
Well, technically I agree. But they have received a bid and are in ‘advanced talks’. I don’t think it’s much of a stretch to say that they wouldn’t pursue advanced talks around a non-preferred bid.
Don’t know what to make of this consortium or if there are any others waiting to buy the Blues. What I do know is that the next owners need to rid the ground of apathy. They need to work with their customers and entice them to come in to their shop. Draw a line under last season and say that we will not be allowed to finish where we did. Not saying we have to or will win the league but give the fans realistic hope.
Whoever it is needs to make a statement of intent.
Good blog again Dan,
Kro
When I first learned that Jeremy Wray was heading the British consortium I must admit I was more than a little deflated. I had never heard of him. I suppose I was dreaming that Trevor and Jasper would ride in on white horses and rescue the club in one fell swoop.
However, after researching Mr Wray’s background and record I find myself much happier and am cautiously optimistic that if he succeeds in purchasing a stake in Blues he won’t let the fans down.
Both Trevor Francis and Jasper Carrott are Blues through and through but surely they don’t have the sort of wealth a club like Blues would need to stabilise and go forward.
I was hoping that they would be backed by the North American investment fund!
Not sure where you have been researching, but like most on here, I can only find muddy waters with little to enthuse me for the forthcoming season.
I want the best for Blues and us, the fans, I am not interested in some oil rich arab or a Eastern-bloc Russian, if one comes along lucky us. As long as they can restore stability, ensure growth and give us hope they can come from the moon for all I care.
What we do not need is more of the same and I’m afraid with this consortium that would appear to be the case.
KRO+DNM
Richard.
Where exactly did you research Jeremy Wray’s background?
Everything to do with blues is rotten to the core from top to bottom and by the look of it things will never change. In today’s football clubs need very rich owners and that’s just to survive and our club can’t even manage that. I don’t want some fly by night idiot with no decent funds taking over because I want to see blues win things be successful be in the top league not struggling all the time being mediocre I’m sick of seeing that. I don’t want to go to games thinking we are going to lose all the time I want to go down to watch a good winning team.
Couldn’t agree more!
Why all the panic? The FA wouldn’t dream of letting anyone take over the club that wasn’t trustworthy and honest.
Roy.
Are you confident that the Football LEAGUE would not let people who were not trustworthy and honest from taking over the club? It seems to me that the powers-that-be in modern professional football may be as questionable as some of the owners and would-be owners of clubs.
I think Roy was being sarcastic
I think you are right, beegee.
You only have to look at the new Leeds owner, convicted tax evader who had the audacity to appeal when he was refused by the football league and won. The system is flawed….
I agree Roy was being sarcastic, but he also has a point.
KRO+DNM