mattypnufc Posted November 19, 2017 Share Posted November 19, 2017 Ryder finally googling what Due Diligence actually means. Link to post Share on other sites More sharing options...
Eddy Chibas Posted November 19, 2017 Share Posted November 19, 2017 The state of some of the replies to this, man. "Ashley's great!" Have to rinse my eye sockets with bleach after reading that thread. I see threads like this, where there's quite a bit of support for the guy, and it's no wonder as to why ashleyout.com (which met resistance) failed to gain traction the first time. Best reply from that disaster zone. Perfectly summation of SportsDirect United. 100% spot on - Premier League Manager, Premier League fans, Premier League Stadium - Two Bob owner Link to post Share on other sites More sharing options...
Darth Crooks Posted November 19, 2017 Share Posted November 19, 2017 This Zimbabwe takeover puts into perspective how quickly these things can be done. Link to post Share on other sites More sharing options...
Kaizero Posted November 19, 2017 Share Posted November 19, 2017 This Zimbabwe takeover puts into perspective how quickly these things can be done. Link to post Share on other sites More sharing options...
Ryan Posted November 19, 2017 Share Posted November 19, 2017 The state of some of the replies to this, man. "Ashley's great!" Jesus wept, absolute helmets. Link to post Share on other sites More sharing options...
Charlies Posted November 19, 2017 Share Posted November 19, 2017 Another nothing article http://www.chroniclelive.co.uk/sport/football/football-news/signs-progress-newcastle-united-takeover-13921709 It is understood that PCP Partners are currently carrying out a thorough review of the club’s history books and finances including past transfer dealings and sponsorship agreements. Indeed, it is believed that PCP requested copies of accounts that date back 27 years and the group are looking through those finances after requesting information last week before it was despatched to the capital for further review. This is interesting, I've got no real idea of the due diligence process is it the usual to go so far back? Link to post Share on other sites More sharing options...
NUFC_Chris Posted November 19, 2017 Share Posted November 19, 2017 Might be because of the tax situation. Sent from my iPhone using Tapatalk Link to post Share on other sites More sharing options...
ExiledGeordie Posted November 19, 2017 Share Posted November 19, 2017 I'll obviously get shot down for saying this by my mate who does some work with the club & knows one of the lawyers for the players/club has heard it's still very much on. I've heard nothing in terms of completion dates or anything though. Link to post Share on other sites More sharing options...
Toonjam88 Posted November 19, 2017 Share Posted November 19, 2017 I think this is just final checks and looking at old sponsorship deals and revenues to get a good understanding of the business. I don't think it will be along process to look at these. These were probably asked for weeks ago and if they are looking at these then it's currently the end game of due diligence. It might be me being to positive but I have a feeling something positive will come out this week. Link to post Share on other sites More sharing options...
NUFC_Chris Posted November 19, 2017 Share Posted November 19, 2017 Aye, if they're going back through deals dating back 27 years (which is a bit random) then you'd think we might be nearing the end of diligence. Sent from my iPhone using Tapatalk Link to post Share on other sites More sharing options...
LiquidAK Posted November 19, 2017 Share Posted November 19, 2017 I'm quite out of the loop, who is actually supposedly buying us then? This Staveley woman? I thought she was just a mediator/broker for deals rather than someone with lots of cash herself? Link to post Share on other sites More sharing options...
Dave Posted November 19, 2017 Share Posted November 19, 2017 Read the sticky. Link to post Share on other sites More sharing options...
STM Posted November 19, 2017 Share Posted November 19, 2017 Someone might aswell. Link to post Share on other sites More sharing options...
Dave Posted November 19, 2017 Share Posted November 19, 2017 Link to post Share on other sites More sharing options...
Figures 1-0 Football Posted November 19, 2017 Share Posted November 19, 2017 Another nothing article http://www.chroniclelive.co.uk/sport/football/football-news/signs-progress-newcastle-united-takeover-13921709 It is understood that PCP Partners are currently carrying out a thorough review of the club’s history books and finances including past transfer dealings and sponsorship agreements. Indeed, it is believed that PCP requested copies of accounts that date back 27 years and the group are looking through those finances after requesting information last week before it was despatched to the capital for further review. This is interesting, I've got no real idea of the due diligence process is it the usual to go so far back? Unusual but not unheard of, I’d imagine it’s due to the tax situation. The more I hear about this takeover, the closer it sounds. Link to post Share on other sites More sharing options...
Charlies Posted November 19, 2017 Share Posted November 19, 2017 Ryder; The FA line also only emerged last Tuesday and coincided with AS being at Wembley. Am I reading this wrong or is he implying she notified the FA during her visit? Link to post Share on other sites More sharing options...
Kanji Posted November 19, 2017 Share Posted November 19, 2017 All part of thorough diligence and underwriting of a purchase of a business or entity and not unusual. They'll be making sure old deals aren't going to come up to bite them or there aren't any change of control payments, fees, or other outstanding loose ends that will require money or any undue legal action. Link to post Share on other sites More sharing options...
Mole_Toonfan Posted November 19, 2017 Share Posted November 19, 2017 All part of thorough diligence and underwriting of a purchase of a business or entity and not unusual. They'll be making sure old deals aren't going to come up to bite them or there aren't any change of control payments, fees, or other outstanding loose ends that will require money or any undue legal action. Yep seems pretty standard stuff, unless of course you are Mike Ashley. Link to post Share on other sites More sharing options...
Dave Posted November 19, 2017 Share Posted November 19, 2017 They clearly haven't found anything that causes them unsurmountable concern just yet, but everything they find will be feeding into their belief of what the club is worth. As has been pointed out before, if they get to the end of all of this process and in their opinion taking everything into account it's only worth £250m then I would imagine it'll all be over. However considering how blunt Ashley is, one would imagine how much he wants to clear off has already been made quite clear and if the valuations were so far apart why bother going through due diligence? Link to post Share on other sites More sharing options...
Dave Posted November 19, 2017 Share Posted November 19, 2017 All part of thorough diligence and underwriting of a purchase of a business or entity and not unusual. They'll be making sure old deals aren't going to come up to bite them or there aren't any change of control payments, fees, or other outstanding loose ends that will require money or any undue legal action. Yep seems pretty standard stuff, unless of course you are Mike Ashley. The one that always got on my tits was him moaning about repayment for the SJP extension that became due on change of ownership, when surely any basic check would have discovered that. Link to post Share on other sites More sharing options...
Minhosa Posted November 19, 2017 Share Posted November 19, 2017 They clearly haven't found anything that causes them unsurmountable concern just yet, but everything they find will be feeding into their belief of what the club is worth. As has been pointed out before, if they get to the end of all of this process and in their opinion taking everything into account it's only worth £250m then I would imagine it'll all be over. However considering how blunt Ashley is, one would imagine how much he wants to clear off has already been made quite clear and if the valuations were so far apart why bother going through due diligence? The headline price will already be agreed. It will almost certainly change (or the terms of the deal will) after DD. That's completely normal. Due Diligence is actually quite an expensive exercise in it's own right so the two parties will almost certainly have outline agreement on price otherwise AS etc would not have gone to the cost of engaging forensic accountants, lawyers and the countless other people surrounding the deal. The fact it's not fallen over yet is incredibly positive and would indicate that there may be a degree of flexibility from Ashley just to get the thing done. This would be a marked change in his normal approach ('my way or the highway'). I'd question whether or not there could be another party also doing DD though. That may well be the case. As with everything involving Ashley, it's unlikely to be straight forward nor clean cut. What is overwhelmingly positive is that its now very clear that these are TAKEOVER talks and not INVESTMENT talks which is what he'd hinted at many times previously, most recently in that contrived bullshit with Sky Sports. In my mind, that would be worst case scenario, even worse than the status quo. Link to post Share on other sites More sharing options...
Guest Howaythetoon Posted November 19, 2017 Share Posted November 19, 2017 They clearly haven't found anything that causes them unsurmountable concern just yet, but everything they find will be feeding into their belief of what the club is worth. As has been pointed out before, if they get to the end of all of this process and in their opinion taking everything into account it's only worth £250m then I would imagine it'll all be over. However considering how blunt Ashley is, one would imagine how much he wants to clear off has already been made quite clear and if the valuations were so far apart why bother going through due diligence? I think what is real clear is that we have Ashley who wants to definitely sell, and someone who wants to definitely buy and what is going on right now is the near ending of the process where we either get taken over, or the fat man stays. This will be made very clear soon, before January IMO as any new buyer would not want to risk their asset being devalued by relegation and therefore would want to give Rafa the funds to guarantee us staying up to make the purchase worth it. That can only happen if they buy us ASAP basically. A purchase has to happen before January or during to allow investment in players. Ashley will not want this to go on longer which could mean he has to sanction some money to be spent in January, something he clearly doesn't want to do as evidenced in the summer. If we don't get bought though before then and he doesn't release some funds for players, we could realistically go down. I personally think both parties want a quick sale/purchase, but the buyer wants to do it properly (hey, because they are serious and legit business people) and that's the hold up at the moment. I believe to get to this stage where we are at now, a price must have been agreed in principle which can be scaled down or up depending on what due diligence reveals. Not by tens of millions of course, but realistic enough to be agreeably negotiable under terms. In short I think it will happen and in time for the January transfer window. My only concern really would be Ashley getting impatient with the due diligence and basically thinking fuck it, and pulling out and deciding to keep the club. Link to post Share on other sites More sharing options...
madras Posted November 19, 2017 Share Posted November 19, 2017 Aye, if they're going back through deals dating back 27 years (which is a bit random) then you'd think we might be nearing the end of diligence. Sent from my iPhone using Tapatalk 27 is actually a bit of an iconic number for NUFC. Link to post Share on other sites More sharing options...
madras Posted November 19, 2017 Share Posted November 19, 2017 Oh and I reckon they probably wanted accounts "back to 1990" as opposed to "the last 27 years" Link to post Share on other sites More sharing options...
Joe_F Posted November 19, 2017 Share Posted November 19, 2017 Please don't find anything to fuck this up. Link to post Share on other sites More sharing options...
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