Various: Mike Ashley in talks with Sheikh Khaled bin Zayed Al Nehayan

[Matt]

Ashley is just selling the shares in NUFC etc, unless all those contracts have change of control provisions then they shouldn’t have any issues. One of the reasons it’s handy to have a holding company.

 

As for Benbow’s latest drivel, he concludes that Ashley will buy more shares because Sports Direct can buy more back. It’s just daft.

[Guest Howaythetoon]

Howay man, there's a bit of difference between yourself and a company the size of NUFC. Absolutely no way MA holds any liability for stuff like that.

 

I’m not saying HE personally does, and in no way saying my own business is comparable , what I’m trying to stress is that when you sell a business it’s not a case of giving the owner lots of money and that’s it. Deal done. So many variables. Again, we were told to pay off van leases for example, we had 4 at the time on lease until purchase and although that would have meant less cash in the bank it wasn’t about cash in the bank, more about assets, less debt, easier transferable things etc. Apparently that would make us worth more and make us more attractive. Fuck knows.

 

Now times that god knows how much with NUFC where they have what, 40 or so PDQ machines? We have 4 and they are all on contract. We cannot just terminate or transfer. And that just PDQ machines. Vending machines for example are on contract. Cars, land, players, sponsorship, the list is endless.

 

By the way in terms of profit to turnover my few companies are more profitable than NUFC and my wages to turnover ratio... therefore ME = better businessman than Ashley and I didn’t have to rename my warehouse or need funding from my parents

 

And I doubt he drives a fucking AMG.

 

Just the helicopter, yacht, 5m home, limos etc.

 

THE CUNT.

[Dave]

As for Benbow’s latest drivel, he concludes that Ashley will buy more shares because Sports Direct can buy more back. It’s just daft.

 

[Unbelievable]

Meh, I really don’t think the legality or complexity is causing this holdup anymore, not after what’s effectively been weeks and weeks of waiting. A deal has simply not been agreed, and my money based on his previous is on Ashley being an akward if not downright unwilling seller (unless he gets what he peceives as a gold plated offer).

[Guest Howaythetoon]

As for Benbow’s latest drivel, he concludes that Ashley will buy more shares because Sports Direct can buy more back. It’s just daft.

 

 

Is it though if he can actually buy so much more back? You obviously know more than me. I just wouldn’t poo poo his postings as drivel. He’s probably well intentioned just like this drivel spouting gob shite

[Guest Howaythetoon]

Meh, I really don’t think the legality or complexity is causing this holdup anymore, not after what’s effectively been weeks and weeks of waiting. A deal has simply not been agreed, and my money based on his previous is on Ashley being an akward if not downright unwilling seller (unless he gets what he peceives as a gold plated offer).

 

They strike me as the type to walk away if they were to be lead up a garden path? Again to get this far, surely a fee must have been agreed, even if in principle? MA I want 400m. Let’s do DD first. Nah, we value it at 280m after DD. Nah replies MA, it’s worth at least 350m. OK let’s have a curry and then talk about it. Hmmm, lovely scran. Nah, still not on though. OK then let’s just, well, let’s just just...

 

What?

 

An impasse over valuation?

 

So you enter talks and go to all these lengths with no real idea of what to pay for something?

 

Either way it needs to happen soon for all our sanity

[Guest Howaythetoon]

Happy to be ahead of trump, but f***ing Odin? The shame

[oldtype]

Meh, I really don’t think the legality or complexity is causing this holdup anymore, not after what’s effectively been weeks and weeks of waiting. A deal has simply not been agreed, and my money based on his previous is on Ashley being an akward if not downright unwilling seller (unless he gets what he peceives as a gold plated offer).

 

"Legality and complexity" (i.e. bickering over specific contract terms) is the majority of the work in any M&A project.  The actual valuation/bickering over price stuff doesn't take as long as you'd think.

[Stifler]

Doesn’t matter if you are a selfemployed window cleaning business buying a rival, Disney buying someone like Fox, or Staveley buying NUFC. If you are 3/4 months into negotiations then you have pretty much agreed a deal. If you are that far in, that far down the line with due diligence, NDA’s, etc then you are pretty much closing the deal as both sides would have been to a heck of lot trouble (and financial expense) to get this far.

[54]

Doesn’t matter if you are a selfemployed window cleaning business buying a rival, Disney buying someone like Fox, or Staveley buying NUFC. If you are 3/4 months into negotiations then you have pretty much agreed a deal. If you are that far in, that far down the line with due diligence, NDA’s, etc then you are pretty much closing the deal as both sides would have been to a heck of lot trouble (and financial expense) to get this far.

Isn't the Disney and Fox deal supposedly going to take up to two year?

[Kaizero]

Doesn’t matter if you are a selfemployed window cleaning business buying a rival, Disney buying someone like Fox, or Staveley buying NUFC. If you are 3/4 months into negotiations then you have pretty much agreed a deal. If you are that far in, that far down the line with due diligence, NDA’s, etc then you are pretty much closing the deal as both sides would have been to a heck of lot trouble (and financial expense) to get this far.

Isn't the Disney and Fox deal supposedly going to take up to two year?

 

It’ll take a loooong time Stifler using a horrible example there.

[Stifler]

Doesn’t matter if you are a selfemployed window cleaning business buying a rival, Disney buying someone like Fox, or Staveley buying NUFC. If you are 3/4 months into negotiations then you have pretty much agreed a deal. If you are that far in, that far down the line with due diligence, NDA’s, etc then you are pretty much closing the deal as both sides would have been to a heck of lot trouble (and financial expense) to get this far.

Isn't the Disney and Fox deal supposedly going to take up to two year?

Mostly because of investigations to make sure it’s not creating a monopoly on the market, not because of talks to over the structure/price of the deal.

[mighty__mag]

This bastard needs locking now.

 

Its painful hearing pure speculation and "todays the day lads" crap.

 

My mate who defrosts the pies on match days says he thinks its happening on Friday.

 

Kill me 

 

 

[Unbelievable]

Meh, I really don’t think the legality or complexity is causing this holdup anymore, not after what’s effectively been weeks and weeks of waiting. A deal has simply not been agreed, and my money based on his previous is on Ashley being an akward if not downright unwilling seller (unless he gets what he peceives as a gold plated offer).

 

"Legality and complexity" (i.e. bickering over specific contract terms) is the majority of the work in any M&A project.  The actual valuation/bickering over price stuff doesn't take as long as you'd think.

 

I don’t doubt it. The point is never has it been reported that a price had been agreed in principle and we all know how Ashley operates. He’s not a rational, professional human being who can be trusted to behave in a predictable fashion. He’s previously stood up potential buyers after flying over to the middle east to meet them. I genuinely believe it’s more about how any deal makes him feel powerful and like he’s “won” than even strictly a magic number he has in mind as a minimum price he can agree to. People have focused mainly on there being an apparantly eager buyer who could transform the coub’s fortunes rather than on the man child at the other side of the table who’s just out to push people around at his behest like he always does. I for one wouldn’t be at all surprised if Ashley calls this off out of the blue if PCP don’t bend over backwards far enough to accomodate his idiocies.

[morla84]

Doesn’t matter if you are a selfemployed window cleaning business buying a rival, Disney buying someone like Fox, or Staveley buying NUFC. If you are 3/4 months into negotiations then you have pretty much agreed a deal. If you are that far in, that far down the line with due diligence, NDA’s, etc then you are pretty much closing the deal as both sides would have been to a heck of lot trouble (and financial expense) to get this far.

I'd be very surprised to see window cleaners signing NDAs stiffy

[Kaizero]

Doesn’t matter if you are a selfemployed window cleaning business buying a rival, Disney buying someone like Fox, or Staveley buying NUFC. If you are 3/4 months into negotiations then you have pretty much agreed a deal. If you are that far in, that far down the line with due diligence, NDA’s, etc then you are pretty much closing the deal as both sides would have been to a heck of lot trouble (and financial expense) to get this far.

Isn't the Disney and Fox deal supposedly going to take up to two year?

Mostly because of investigations to make sure it’s not creating a monopoly on the market, not because of talks to over the structure/price of the deal.

 

Wrong!

 

Not re set price, but structure.

[NUFC]

Been trying to find out some info about Canterville Ltd and one name keeps cropping up in relation to Staveley, Craig Farquah Eadie

 

He seems to have been a director at a few of her companies including Amanda Staverley Foundation & PCP Capital Partners LLP, however he resigned as a director from PCP Capital Partners LLP on 1st December 2017 but it looks as though she has used his company Penhallow Company Services Ltd as an agent to set up Canterville Ltd. He was also involved with Staveley when she was arranging the Barclays/Abu Dhabi investment back in 2013

 

When doing some digging on Craig Eadie it appears he is an Oxford graduate solicitor who has worked in corporate finance and he has been directly involved in principal transactions for PCP Capital Partners previously.

 

Is Craig Eadie involved behind the scenes in representing her do we know?

 

 

Wife and daughter asleep so yes I have too much time on my hands

 

[mrmojorisin75]

Meh, I really don’t think the legality or complexity is causing this holdup anymore, not after what’s effectively been weeks and weeks of waiting. A deal has simply not been agreed, and my money based on his previous is on Ashley being an akward if not downright unwilling seller (unless he gets what he peceives as a gold plated offer).

 

"Legality and complexity" (i.e. bickering over specific contract terms) is the majority of the work in any M&A project.  The actual valuation/bickering over price stuff doesn't take as long as you'd think.

 

I don’t doubt it. The point is never has it been reported that a price had been agreed in principle and we all know how Ashley operates. He’s not a rational, professional human being who can be trusted to behave in a predictable fashion. He’s previously stood up potential buyers after flying over to the middle east to meet them. I genuinely believe it’s more about how any deal makes him feel powerful and like he’s “won” than even strictly a magic number he has in mind as a minimum price he can agree to. People have focused mainly on there being an apparantly eager buyer who could transform the coub’s fortunes rather than on the man child at the other side of the table who’s just out to push people around at his behest like he always does. I for one wouldn’t be at all surprised if Ashley calls this off out of the blue if PCP don’t bend over backwards far enough to accomodate his idiocies.

Inclined to agree UB, however this has been going on a long time now and PCP are no mugs. If he was ripping the piss out of them they'd have been away and we'd have heard about it by now imo.

 

Caulkin's tweet about some progress being made last week ties in with things still bubbling along.

 

My guess, which is worth nothing and is the same as many opinions, is that they've made an offer and won't budge due to the threat of relegation and that's about it. As you say Ashley is a wretched human and this might all be him at it again but as things stand the signs point equally to it still happening as much as it falling apart.

[Matt]

As for Benbow’s latest drivel, he concludes that Ashley will buy more shares because Sports Direct can buy more back. It’s just daft.

 

 

Is it though if he can actually buy so much more back? You obviously know more than me. I just wouldn’t poo poo his postings as drivel. He’s probably well intentioned just like this drivel spouting gob shite

 

He's talking about a shareholders vote which would allow SD (not Ashley) to buy back shares. Where do they get those shares? Existing shareholders, at the shareholder's election if they want to sell. If anything, increasing this cap would be useful if Ashley were planning to SELL his personally held shares in SD back to the company to give him cash in hand, not the other way round.

 

[Stifler]

Been trying to find out some info about Canterville Ltd and one name keeps cropping up in relation to Staveley, Craig Farquah Eadie

 

He seems to have been a director at a few of her companies including Amanda Staverley Foundation & PCP Capital Partners LLP, however he resigned as a director from PCP Capital Partners LLP on 1st December 2017 but it looks as though she has used his company Penhallow Company Services Ltd as an agent to set up Canterville Ltd. He was also involved with Staveley when she was arranging the Barclays/Abu Dhabi investment back in 2013

 

When doing some digging on Craig Eadie it appears he is an Oxford graduate solicitor who has worked in corporate finance and he has been directly involved in principal transactions for PCP Capital Partners previously.

 

Is Craig Eadie involved behind the scenes in representing her do we know?

 

 

Wife and daughter asleep so yes I have too much time on my hands

Yeah I noticed that last night when I also had too much time on my hands. I think it’s normal for people to employ the same people as previously, or to re-use the same consultants etc.

[madras]

Been trying to find out some info about Canterville Ltd and one name keeps cropping up in relation to Staveley, Craig Farquah Eadie

 

He seems to have been a director at a few of her companies including Amanda Staverley Foundation & PCP Capital Partners LLP, however he resigned as a director from PCP Capital Partners LLP on 1st December 2017 but it looks as though she has used his company Penhallow Company Services Ltd as an agent to set up Canterville Ltd. He was also involved with Staveley when she was arranging the Barclays/Abu Dhabi investment back in 2013

 

When doing some digging on Craig Eadie it appears he is an Oxford graduate solicitor who has worked in corporate finance and he has been directly involved in principal transactions for PCP Capital Partners previously.

 

Is Craig Eadie involved behind the scenes in representing her do we know?

 

 

Wife and daughter asleep so yes I have too much time on my hands

Yeah I noticed that last night when I also had too much time on my hands. I think it’s normal for people to employ the same people as previously, or to re-use the same consultants etc.

Isn't he the legal side of PCP ?

[loki679]

As for Benbow’s latest drivel, he concludes that Ashley will buy more shares because Sports Direct can buy more back. It’s just daft.

 

 

Is it though if he can actually buy so much more back? You obviously know more than me. I just wouldn’t poo poo his postings as drivel. He’s probably well intentioned just like this drivel spouting gob shite

 

He's talking about a shareholders vote which would allow SD (not Ashley) to buy back shares. Where do they get those shares? Existing shareholders, at the shareholder's election if they want to sell. If anything, increasing this cap would be useful if Ashley were planning to SELL his personally held shares in SD back to the company to give him cash in hand, not the other way round.

 

 

It's just rubbish

 

Totally ignores that the same resolutions were passed in 2016 and 2015 and if you look at that companies house link that got posted a few pages back you can see SD was buying shares in itself all the way through 2017 to the tune of more than £100m.

 

The Cantervale thing was a good spot but the kid's just digging up any old crap, making it superficially plausible and sticking it on twitter to get a bit more attention.

[morla84]

As for Benbow’s latest drivel, he concludes that Ashley will buy more shares because Sports Direct can buy more back. It’s just daft.

 

 

Is it though if he can actually buy so much more back? You obviously know more than me. I just wouldn’t poo poo his postings as drivel. He’s probably well intentioned just like this drivel spouting gob s****

 

He's talking about a shareholders vote which would allow SD (not Ashley) to buy back shares. Where do they get those shares? Existing shareholders, at the shareholder's election if they want to sell. If anything, increasing this cap would be useful if Ashley were planning to SELL his personally held shares in SD back to the company to give him cash in hand, not the other way round.

 

 

It's just rubbish

 

Totally ignores that the same resolutions were passed in 2016 and 2015 and if you look at that companies house link that got posted a few pages back you can see SD was buying shares in itself all the way through 2017 to the tune of more than £100m.

 

The Cantervale thing was a good spot but the kid's just digging up any old crap, making it superficially plausible and sticking it on twitter to get a bit more attention.

Think you've just described 95% of twitter in general there.

[TRon]

The latest rumour that Rafa has been told he has to sell players before buying suggests that this isn't happening any time soon. We can write off any funds from Ashley which would be paid off in the event of a takeover if that's true.

[peder]

Close this shit already.

 

Stop torturing an old dead horse...