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Topic Originator: red-star-par
Date: Wed 25 Feb 16:35
Bord and the consortium have been keeping Sheffield Wednesday going financially during the time this process has been going, losing a million a month. It`s cost them £4,000,000 on the running costs and no doubt a lot of other fees.
Money that would have been better spent on one of his other clubs. Imagine that money was invested in the playing squad here or in Bulgaria
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Topic Originator: Zoltan
Date: Wed 25 Feb 18:10
Very very questionable behaviour
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Topic Originator: Ditch
Date: Wed 25 Feb 18:30
£1m prler month from Christmas Eve is £2m, not £4m. Still a ton of cash for a club or our size
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Topic Originator: NMCmassive
Date: Wed 25 Feb 18:42
If he’s pulling out it means their financial situation is really bad.
If it’s millions a month to break even-it may be beyond him. I really hope we don’t see the end of Sheffield Wednesday
COYP
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Topic Originator: Turps
Date: Wed 25 Feb 18:54
Quote:
Ditch, Wed 25 Feb 18:30
£1m prler month from Christmas Eve is £2m, not £4m. Still a ton of cash for a club or our size
They had to pay a £2.5m `holding fee` to be the preferred bid during the process as well as £1m a month. Read that on the bbc article.
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Topic Originator: Dave_1885
Date: Wed 25 Feb 18:54
Quote:
Zoltan, Wed 25 Feb 18:10
Very very questionable behaviour
Is it that questionable?
They have invested money to keep the club running whilst working towards a takeover, which they’ve inevitably pulled out of due to it being too big a task to turn around.
They may even get some money back IF the clubs bought over, you never know.
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Topic Originator: Malcolm Canmore
Date: Wed 25 Feb 19:51
Congratulations to the consortium. In the corporate world, too many bidders lose sight of reality and end up pursuing the deal beyond the point where it makes sense. Recognising that the price of target is too high and pulling out when that point is reached takes nerve.
My dog eats meat
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Topic Originator: Zoltan
Date: Wed 25 Feb 19:55
They’ve bidded £47.5m when the guide was £30m. They have now wasted millions and there is no facility to recover the funds. Not least the time they’ve wasted. I think it’s reasonable to declare their behaviour as questionable.
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Topic Originator: Hoolie
Date: Wed 25 Feb 20:02
Bird is a gambler so more or less lost a hand at Sheffield so will be looking to put money in/get his money back from another team…
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Topic Originator: neils
Date: Wed 25 Feb 20:35
It`s not questionable in the slightest I believe.
Also, it`s not gambling- gambling would be going ahead with the purchase knowing it would be a money pit. RBS buying ABN Amro was a gamble, remember what happened next? Pulling out and taking a hit ( before it gets ridiculous) is the definition of a business decision, and these happen all the time.
It`s a straightforward business decision, probably they realise that a club of that size doesn`t need plain old wealthy people, but oil or financial type wealthy people - that was Ashley`s problem at Newcastle, he was fine, just didn`t have Saudi type money.
I`m guessing it would cost 10s of millions just to get the stadium up to scratch at Wednesday, never mind the team, probably the scale of the task put them off
Personally I don`t care anyway, I would care if they bought a club of this size, but only because surely it would take the focus away from the Pars, otherwise it`s nobody`s business except their own.
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Topic Originator: Raymie the Legend
Date: Wed 25 Feb 22:22
According to a local reporter on Talksport with “inside information” they realised they had bid way more than the club was worth plus, the EFL were rumoured to be declaring them as not fit and proper owners !
It`s bloody tough being a legend
Ron Atkinson - 1983
Post Edited (Wed 25 Feb 22:23)
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Topic Originator: Dave_1885
Date: Thu 26 Feb 04:29
Quote:
Raymie the Legend, Wed 25 Feb 22:22
According to a local reporter on Talksport with “inside information” they realised they had bid way more than the club was worth plus, the EFL were rumoured to be declaring them as not fit and proper owners !
Which is ironic given the EFL allowed Chansiri to own them…..
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Topic Originator: Zoltan
Date: Thu 26 Feb 05:38
> Quote:
Raymie the Legend, Wed 25 Feb 22:22
>
> According to a local reporter on Talksport with “inside
> information” they realised they had bid way more than the
> club was worth plus, the EFL were rumoured to be declaring
> them as not fit and proper owners !
>
> Which is ironic given the EFL allowed Chansiri to own them…..
It’s not ironic, speaks volumes for the character of the person involved.
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