I recall that there were issues in the ground which would no doubt have been relevant events under the terms of the contract and provided extra costs and time to resolve at the clubs expense.Danieljwaterhouse wrote: ↑Tue Sep 29, 2020 10:14 pmDepends if the contract was to a cost, I can’t imagine we wouldn’t work to a cost and add penalties to the contract. The very nature of the build was time restricted, so it would be stupid not to include penalty clauses to safeguard the timely completion.
ALK Capital or Farnell/Elkashashy takeover
Re: ALK Capital...
Re: ALK Capital...
I read it as the leak was by another interested party with a view to them offering a more attractive proposal, with a potential legal claim being lodged between the separate interested parties.
Sounds messy and doesnt suggest that anything is close to being resolved in the short term?
-
- Posts: 8528
- Joined: Thu Jan 21, 2016 5:22 pm
- Been Liked: 2889 times
- Has Liked: 1763 times
Re: ALK Capital...
its tough being a fan thesedays, I can never recall big debates about the clubs finances. it was all about the team.
now we have supporters split on what deal would be the most beneficial. clearly no one has a clue. I must admit to being impressed though by the knowledge on financial issues on here. (not sarcasm)
it all looks an incredibly complex matter.
I just hope when the dust settles, the club can push on and succeed.
now we have supporters split on what deal would be the most beneficial. clearly no one has a clue. I must admit to being impressed though by the knowledge on financial issues on here. (not sarcasm)
it all looks an incredibly complex matter.
I just hope when the dust settles, the club can push on and succeed.
-
- Posts: 67892
- Joined: Thu Dec 24, 2015 3:07 pm
- Been Liked: 32539 times
- Has Liked: 5279 times
- Location: Burnley
- Contact:
Re: ALK Capital...
Nothing to do with Roy. It’s from information I’ve received from very reliable sources.Chester Perry wrote: ↑Tue Sep 29, 2020 10:11 pmI am aware of that CT, but it is very rare in any form of project that additional time does not cost additional monies, and we know these were far from insignificant issues.
I know you and Roy have the occasional disagreement, but I don't believe Roy would wantonly mislead on such an issue. It could be I misinterpreted the value though,
-
- Posts: 6904
- Joined: Mon Mar 07, 2016 5:04 pm
- Been Liked: 2758 times
- Has Liked: 4325 times
Re: ALK Capital...
Do you not remember the Ingleby/ Shackleton/Kilby dramas ?Wile E Coyote wrote: ↑Tue Sep 29, 2020 10:31 pmits tough being a fan thesedays, I can never recall big debates about the clubs finances. it was all about the team.
now we have supporters split on what deal would be the most beneficial. clearly no one has a clue. I must admit to being impressed though by the knowledge on financial issues on here. (not sarcasm)
it all looks an incredibly complex matter.
I just hope when the dust settles, the club can push on and succeed.
Re: ALK Capital...
He hasn't suggested that. He's just given a reason for why something being made public while still under an NDA can complicate matters.
This user liked this post: Danieljwaterhouse
-
- Posts: 19415
- Joined: Thu Jun 02, 2016 11:06 am
- Been Liked: 3162 times
- Has Liked: 481 times
Re: ALK Capital...
I am sure that Roy will join me in willing that is the outcome the club achievedClaretTony wrote: ↑Tue Sep 29, 2020 10:33 pmNothing to do with Roy. It’s from information I’ve received from very reliable sources.
-
- Posts: 8528
- Joined: Thu Jan 21, 2016 5:22 pm
- Been Liked: 2889 times
- Has Liked: 1763 times
Re: ALK Capital...
yes, but they were only dramas for middle class accountantsrandomclaret2 wrote: ↑Tue Sep 29, 2020 10:34 pmDo you not remember the Ingleby/ Shackleton/Kilby dramas ?
-
- Posts: 30707
- Joined: Fri Jan 22, 2016 4:00 am
- Been Liked: 11052 times
- Has Liked: 5659 times
- Location: clue is in the title
Re: ALK Capital...
so are you intimating we could have more than one interested party ?Danieljwaterhouse wrote: ↑Tue Sep 29, 2020 9:41 pmIn the same sense that if a club agree a fee with another club for a player, and then that’s leaked to the press, and other clubs now start sniffing and potentially offering more money, or a more attractive offer you’d be pretty annoyed at being gazumped. The club might hold off on signing that asset over to you in the hope they might achieve a higher price with a second or third party.
You might be inclined to use the terms of the original agreement to seek financial recompense against the third party who leaked the availability of the player to the media.
-
- Posts: 1334
- Joined: Tue Jan 24, 2017 10:17 pm
- Been Liked: 372 times
- Has Liked: 14 times
- Location: Blackburn
Re: ALK Capital...
Beane was involved in helping a consortium of investors buying Barnsley, headed by Chinese Billionaire Chien Lee who also owns OGC Nice.Paul Waine wrote: ↑Sun Sep 27, 2020 12:24 amArticle in The Times, Saturday about "blank cheque companies" - otherwise known as Special-Purpose Acquisition Companies, SPACs.
Posting it because it may throw some light on ALK Investment's plans to raise capital. On the other hand, so far as I'm aware there has been nothing said by ALK themselves that a SPAC forms part of any plans they might be pursuing.
The article does mention Billy Beane, of "moneyball" fame - "thought have its eyes on a top-flight English football club and "recently hired Richard Scudamore as a director."
I've picked out a few "taster" paragraphs.
The hot fund that’s like handing a blank cheque to its creators
Spacs can make huge returns for those who set them up but very little for ordinary investors
https://www.thetimes.co.uk/article/0c7c ... 8f8dd5ff70
"Blank cheque investment funds are all the rage in America this year. Prominent figures from business, politics and sport have raised tens of billions of dollars before going on the hunt for acquisitions."
"Such is their soaring popularity that blank cheque funds account for 43 per cent of all the money raised from initial public offerings (IPOs) in the US this year, research conducted for The Times shows. This is, by some distance, the largest proportion for any year in the last decade, and it comes in what is a bumper year for IPOs of all kinds."
Big names and numbers aside, blank cheque funds are changing the way that private companies go public. They are clearing a shortcut to the stock market, along a route that is shaded from the prying eyes of sceptical investors, stock exchange officials and government regulators.
More formally known as special purpose acquisition companies, or Spacs, blank cheque funds raise money from investors through IPOs before listing their shares on a stock exchange.
Nonetheless, American funds are looking for targets across the Atlantic. A $575 million Spac co-chaired by Billy Beane, the baseball executive portrayed in Moneyball, starring Brad Pitt, is thought to have its eyes on a top-flight English football club. The company recently hired Richard Scudamore, the former executive chairman of the Premier League, as a director.
UTC
Last season they signed 17 players and let go 21 players.
Finished 21st in the Championship scraping staying up.
They've already lost their first three games of this season.
This consortium have been involved in the running of the club since 2017.
This user liked this post: KateR
Re: ALK Capital...
Do we just need to will it so?Chester Perry wrote: ↑Tue Sep 29, 2020 10:41 pmI am sure that Roy will join me in willing that is the outcome the club achieved
Re: ALK Capital...
UpTheClaretsFCBK wrote: ↑Wed Sep 30, 2020 5:56 amBeane was involved in helping a consortium of investors buying Barnsley, headed by Chinese Billionaire Chien Lee who also owns OGC Nice.
Last season they signed 17 players and let go 21 players.
Finished 21st in the Championship scraping staying up.
They've already lost their first three games of this season.
This consortium have been involved in the running of the club since 2017.
So those who want the current Chairman removed want to replace him with a SPAC!
-
- Posts: 19415
- Joined: Thu Jun 02, 2016 11:06 am
- Been Liked: 3162 times
- Has Liked: 481 times
Re: ALK Capital...
Realistically there's about 3 or 4% of shares that are spread between 1,500 or so people with them mainly owning 1 or 2 each. It's unlikely you could put together the opposition to block anything.Dark Cloud wrote: ↑Tue Sep 29, 2020 6:55 pmQuestion: If Garlick only owns 49.?% of the shares does someone else not have to agree to sell also or the Americans don't really achieve their aim of "overall control"? So it might not actually be in MG's hands
-
- Posts: 6652
- Joined: Sun Jan 24, 2016 9:03 am
- Been Liked: 2006 times
- Has Liked: 3346 times
Re: ALK Capital...
Yes, I get that, but what I was saying/asking was with Garlick only having 49.24% of the shares, him alone deciding to sell doesn't give ALK overall control, so us on here constantly discussing whether MG wants to sell or not, isn't the full story.
Re: ALK Capital...
Yes, I'd forgotten to refresh and missed the later discussion on the shares.Dark Cloud wrote: ↑Wed Sep 30, 2020 10:22 amYes, I get that, but what I was saying/asking was with Garlick only having 49.24% of the shares, him alone deciding to sell doesn't give ALK overall control, so us on here constantly discussing whether MG wants to sell or not, isn't the full story.
Although the 49.24% may not technically a majority it is, realistically, a controlling interest given the way the shares are distributed.
This user liked this post: Dark Cloud
Re: ALK Capital...
minority shareholders have rights, depending upon shares held, 5%, 10%, 15% and 20% each level can have different rights, what is not known, for me anyway, is what does the shareholder agreement say in regard to rights. There are legal rights for minority shareholders to protect them to a certain extent, regardless of what the shareholder agreement says.
Re: ALK Capital...
The articles are pretty standard. There are extra minority shareholder rights, this is a reasonable summary https://www.crippspg.co.uk/shareholders ... ?pdf=26431 , but nothing that is really going to impact on this situation.KateR wrote: ↑Wed Sep 30, 2020 4:07 pmminority shareholders have rights, depending upon shares held, 5%, 10%, 15% and 20% each level can have different rights, what is not known, for me anyway, is what does the shareholder agreement say in regard to rights. There are legal rights for minority shareholders to protect them to a certain extent, regardless of what the shareholder agreement says.
Re: ALK Capital...
I have been a minority shareholder of 10% and I had veto rights written in to the shareholders agreement, regarding share offering that would dilute my 10% stake and also including outright sale to a majority stake holder. As I said, I have no clue whatsoever, what is in the BFC shareholders agreement, maybe those holding some shares will know, I don't. Probably a moot point in reality.
Re: ALK Capital...
There is a right to buy shares if there is a share offering (in order to avoid diluting your shareholding) but nothing allowing any veto of sales, etcKateR wrote: ↑Wed Sep 30, 2020 4:52 pmI have been a minority shareholder of 10% and I had veto rights written in to the shareholders agreement, regarding share offering that would dilute my 10% stake and also including outright sale to a majority stake holder. As I said, I have no clue whatsoever, what is in the BFC shareholders agreement, maybe those holding some shares will know, I don't. Probably a moot point in reality.
The details can be seen at companies house website.
This user liked this post: KateR
Re: ALK Capital...
thanks for the info, I'll give reading BFC shareholders agreement a miss thank you
-
- Posts: 62
- Joined: Sat Mar 04, 2017 5:20 pm
- Been Liked: 29 times
- Has Liked: 5 times
Re: ALK Capital...
A company called Calder Vale Holdings Limited has just been registered on Companies House, Alan Pace among the directors. Suspect the deal is quite close to completing.
https://beta.companieshouse.gov.uk/company/12919689
https://beta.companieshouse.gov.uk/company/12919689
These 2 users liked this post: Royboyclaret claretandy
-
- Posts: 3233
- Joined: Thu Jan 21, 2016 9:36 am
- Been Liked: 1768 times
- Has Liked: 41 times
Re: ALK Capital...
I expect that this is quite significant as it now 'links' ALK to the club.claretgilly wrote: ↑Thu Oct 01, 2020 3:36 pmA company called Calder Vale Holdings Limited has just been registered on Companies House, Alan Pace among the directors. Suspect the deal is quite close to completing.
https://beta.companieshouse.gov.uk/company/12919689
Re: ALK Capital...
It seems to me that the investment of the minority shareholders isn't worth the paper that it's written on.
-
- Posts: 4751
- Joined: Thu Jan 21, 2016 12:47 pm
- Been Liked: 953 times
- Has Liked: 238 times
Re: ALK Capital...
Good find !claretgilly wrote: ↑Thu Oct 01, 2020 3:36 pmA company called Calder Vale Holdings Limited has just been registered on Companies House, Alan Pace among the directors. Suspect the deal is quite close to completing.
https://beta.companieshouse.gov.uk/company/12919689
-
- Posts: 10168
- Joined: Mon Apr 09, 2018 1:59 pm
- Been Liked: 4188 times
- Has Liked: 57 times
Re: ALK Capital...
Probably waiting for the transfer window to close before investing a few quidclaretgilly wrote: ↑Thu Oct 01, 2020 3:36 pmA company called Calder Vale Holdings Limited has just been registered on Companies House, Alan Pace among the directors. Suspect the deal is quite close to completing.
https://beta.companieshouse.gov.uk/company/12919689
Re: ALK Capital...
Who are Velocity Sports registered in Jersey?
-
- Posts: 607
- Joined: Thu Jan 21, 2016 11:08 am
- Been Liked: 98 times
- Has Liked: 97 times
Re: ALK Capital...
Claretgilly - Would you have any idea how long companies would normally be registered, before any takeover occurs please?
Re: ALK Capital...
Clearly it links them to the UK, but how does it link them to BFC?arise_sir_charge wrote: ↑Thu Oct 01, 2020 3:45 pmI expect that this is quite significant as it now 'links' ALK to the club.
-
- Posts: 4405
- Joined: Thu Jan 21, 2016 8:43 am
- Been Liked: 1467 times
- Has Liked: 997 times
- Location: Burnley
Re: ALK Capital...
This is even more fun than watching Sky Scanner (or whatever it's called) for planesclaretgilly wrote: ↑Thu Oct 01, 2020 3:36 pmA company called Calder Vale Holdings Limited has just been registered on Companies House, Alan Pace among the directors. Suspect the deal is quite close to completing.
https://beta.companieshouse.gov.uk/company/12919689
Re: ALK Capital...
This user liked this post: Goobs
Re: ALK Capital...
Seems close now
Calder ale to be the vehicle for the purchase it would seem.
Calder ale to be the vehicle for the purchase it would seem.
-
- Posts: 3982
- Joined: Sun Feb 16, 2020 3:04 pm
- Been Liked: 855 times
- Has Liked: 605 times
Re: ALK Capital...
If it's linked to the BFC takeover, then it's a strange name to choose. Calder Vale is in the west of the Forest of Bowland and the only local connection I know of is the Calder River.
-
- Posts: 62
- Joined: Sat Mar 04, 2017 5:20 pm
- Been Liked: 29 times
- Has Liked: 5 times
Re: ALK Capital...
Hard to say really, it's just one of many things that the lawyers they're paying handsomely will have on their 'Steps Plan'. Registering a company is pretty straightforward, and also easy to deregister if things don't work out. But obviously a step in the right direction.onewillieirvine wrote: ↑Thu Oct 01, 2020 4:06 pmClaretgilly - Would you have any idea how long companies would normally be registered, before any takeover occurs please?
Re: ALK Capital...
I thought it featured in the clubs historyGordaleman wrote: ↑Thu Oct 01, 2020 4:21 pmIf it's linked to the BFC takeover, then it's a strange name to choose. Calder Vale is in the west of the Forest of Bowland and the only local connection I know of is the Calder River.
Re: ALK Capital...
Isn't Calder Vale the original location of Burnley FC's ground before Turf Moor?Gordaleman wrote: ↑Thu Oct 01, 2020 4:21 pmIf it's linked to the BFC takeover, then it's a strange name to choose. Calder Vale is in the west of the Forest of Bowland and the only local connection I know of is the Calder River.
Somewhere near where the college is now?
-
- Posts: 3982
- Joined: Sun Feb 16, 2020 3:04 pm
- Been Liked: 855 times
- Has Liked: 605 times
Re: ALK Capital...
In what way? The old ground? Maybe, but why would a forward looking company look so far back?
Last edited by Gordaleman on Thu Oct 01, 2020 4:28 pm, edited 1 time in total.
Re: ALK Capital...
Our first ground
Re: ALK Capital...
Wouldn't read too much into that. Calder International Holdings is based in Chester. May be the only name available.Gordaleman wrote: ↑Thu Oct 01, 2020 4:21 pmIf it's linked to the BFC takeover, then it's a strange name to choose. Calder Vale is in the west of the Forest of Bowland and the only local connection I know of is the Calder River.
-
- Posts: 3982
- Joined: Sun Feb 16, 2020 3:04 pm
- Been Liked: 855 times
- Has Liked: 605 times
-
- Posts: 607
- Joined: Thu Jan 21, 2016 11:08 am
- Been Liked: 98 times
- Has Liked: 97 times
Re: ALK Capital...
Thanks claretgilly, that gives me a better understanding of the process. Let's hope all goes well !
Re: ALK Capital...
Just admit you didn't know, instead of editing your post after a quick Google search.
-
- Posts: 575
- Joined: Thu Jan 21, 2016 11:41 am
- Been Liked: 217 times
- Has Liked: 191 times
Re: ALK Capital...
Burnley RFUC used to be known as Calder Vale RUFC and Burnley FC started out as a rugby club known as Burnley Rovers!!!. The football club started playing at Calder Vale until moving too Turf Moor.Gordaleman wrote: ↑Thu Oct 01, 2020 4:21 pmIf it's linked to the BFC takeover, then it's a strange name to choose. Calder Vale is in the west of the Forest of Bowland and the only local connection I know of is the Calder River.
I know it's a different sport but that's the only connection I could think of.
I type too slow...
https://lancashirerugby.co.uk/news/1517 ... ry-service
https://thebeautifulhistory.wordpress.c ... s/burnley/
-
- Posts: 3982
- Joined: Sun Feb 16, 2020 3:04 pm
- Been Liked: 855 times
- Has Liked: 605 times
Re: ALK Capital...
Yes, I know that but it's still a strange name for a modern progressive company to use.Claretnick wrote: ↑Thu Oct 01, 2020 4:32 pmBurnley RFUC used to be known as Calder Vale RUFC and Burnley FC started out as a rugby club known as Burnley Rovers!!!. The football club started playing at Calder Vale until moving too Turf Moor.
I know it's a different sport but that's the only connection I could think of.
I type too slow...
https://lancashirerugby.co.uk/news/1517 ... ry-service
https://thebeautifulhistory.wordpress.c ... s/burnley/
-
- Posts: 3982
- Joined: Sun Feb 16, 2020 3:04 pm
- Been Liked: 855 times
- Has Liked: 605 times
Re: ALK Capital...
Why? Are you expecting names like they come up with on The Apprentice?Gordaleman wrote: ↑Thu Oct 01, 2020 4:34 pmYes, I know that but it's still a strange name for a modern progressive company to use.
Re: ALK Capital...
Or. It's a nod to the past and recognising it with open arms while being progressive.Gordaleman wrote: ↑Thu Oct 01, 2020 4:34 pmYes, I know that but it's still a strange name for a modern progressive company to use.