BONTEMPI Posted July 31, 2007 Share Posted July 31, 2007 What a load of bollocks, Mort and Ashley have bought businesses before, they clearly had due diligence performed on the business, if they didn't know what the debt position was of the business before they bought it then they are not fit to be running a hot dog stand let alone a PLC or a football club! TBH I think they found loads of unpaid gregg invoices stuffed down the sofa in the chairmans office! Link to post Share on other sites More sharing options...
Slugsy Posted July 31, 2007 Share Posted July 31, 2007 What a load of bollocks, Mort and Ashley have bought businesses before, they clearly had due diligence performed on the business, if they didn't know what the debt position was of the business before they bought it then they are not fit to be running a hot dog stand let alone a PLC or a football club! TBH I think they found loads of unpaid gregg invoices stuffed down the sofa in the chairmans office! That probably amounts to the the debt of a third world country! Link to post Share on other sites More sharing options...
BONTEMPI Posted July 31, 2007 Share Posted July 31, 2007 What a load of bollocks, Mort and Ashley have bought businesses before, they clearly had due diligence performed on the business, if they didn't know what the debt position was of the business before they bought it then they are not fit to be running a hot dog stand let alone a PLC or a football club! TBH I think they found loads of unpaid gregg invoices stuffed down the sofa in the chairmans office! That probably amounts to the the debt of a third world country! f****** A! Link to post Share on other sites More sharing options...
danswan Posted July 31, 2007 Share Posted July 31, 2007 lager and lime?......id be drinking sol with lime stuffed down the neck Errr.. Is that not lager and lime then? Personally I would be drinking neat meths. Link to post Share on other sites More sharing options...
Dokko Posted July 31, 2007 Share Posted July 31, 2007 One thing after another, the story does tie in well though with currents events at the club. Link to post Share on other sites More sharing options...
quayside Posted July 31, 2007 Share Posted July 31, 2007 What a load of bollocks, Mort and Ashley have bought businesses before, they clearly had due diligence performed on the business, if they didn't know what the debt position was of the business before they bought it then they are not fit to be running a hot dog stand let alone a PLC or a football club! Didn't he do the deal to buy the club overnight or something? Not a chance, have you seen Mort's CV? The guy is a top class M&A advisor, there is absolutely no way he would have advised Ashely to spend £133m without getting access to the books and being able to ascertain the debt position of the business. Given that it was an all cash deal, there wouldn't have been the pressure from a bank to get DD done but it would be truly amazing if he hadn't ascertained what the enterprise value of the business was before purchasing it. In that case, then, I summise that this entire story is a load of bollocks and not worth worrying about. I'm guessing that they've seen SA is slow in the transfer market, which leads to speculation about his relationship with MA, which is followed by problems at Sports Direct, which then leads people to the next natural assumption, that all is not sweetness and light at the club. Which incidentally also fires off those "Martins for sale" stories. A series of baseless assumptions. Although it's hard to see how any detailed due diligence could have taken place without the knowledge of the Shepherd clan. Fred claims he genuinely didn't know about Ashley's interest until his brother came to see him in hospital and told him the Halls had sold. It is almost impossible to keep proper due diligence a secret from the staff and directors of a business. Link to post Share on other sites More sharing options...
Mick Posted July 31, 2007 Share Posted July 31, 2007 Due diligence wasn't carried out, we've been told that, everything happened so quick. Having said that, all Mort had to do was look at the clubs website and he would have seen how the club was doing. Plenty of people on here knew that we were in the region of £80 million in debt and it was in most of the newspapers only a few months before the buy-out, we're being fed more shite by the media. Link to post Share on other sites More sharing options...
Dokko Posted July 31, 2007 Share Posted July 31, 2007 Due diligence wasn't carried out, we've been told that, everything happened so quick. Having said that, all Mort had to do was look at the clubs website and he would have seen how the club was doing. Plenty of people on here knew that we were in the region of £80 million in debt and it was in most of the newspapers only a few months before the buy-out, we're being fed more shite by the media. That's it like. It doesn't take much digging to find whats going on here, or be in the ball park of what going on. So there might be a few hidden surprises, but surly nothing to threaten the existence of the club, which is what they are making out. Financial media now jumping on us, but it was always going to happen with someone like Mike Ashley, his problems ATM with SD, and his reclusiveness which is breeding rumour after rumour. Link to post Share on other sites More sharing options...
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