ALK Capital or Farnell/Elkashashy takeover

[clansman]

Mr Farnell claims to have played for Blackburn Rovers as a teenager, never made it beyond the reserves and had to retire due to a knee injury.

[Grumps]

Yes, Charlton were in a mess from previous owners, that is not disputed.

But distressed clubs are the weakest and the most vulnerable to the unscrupulous.

Farnell got involved in the way a vulture gets involved with a dying animal.

Despite supposedly acting for the club he deliberately blocked potential purchasers Andrew Barclay (of the billionaire Barclay family) and eventual buyer Thomas Sandgaard.

Instead he introduced his friend Paul Elliot in a clear conflict of interest that has resulted in two complaints to the Solicitors Regulatory Authority and a public reprimand from a high court judge.

Farnell publicly named El Kashasky as part of the consortium buying Charlton.

Yet we now learn EL K and Farnel were said to be buying Burnley at the same time.

Farnell and Elliot with El K were unable to past the EFLs OADT or provide proof of funds to run a league one club yet we are now told El K is worth £9bn.

This is why us Addicks are relieved that Farnell, El K and Elliot are no longer involved with our club and hope that none of them get near Burnley.

Thankyou

[snapcrackleandpop]

What an absolute shi*e thread, 56 pages of squabble and nothingness.

[bfcjg]

Mr Farnell claims to have played for Blackburn Rovers as a teenager, never made it beyond the reserves and had to retire due to a knee injury.

Damage connected with Blackburn should be a neigh injury surely, did the horse kick him ?

[ClaretTony]

A simple question was... Was Farnell involved with the club at the time we last played them, and they had sit down protests, and throwing of tennis balls in protests against the owners. And in addition what state did they think the club was in when they first became aware of Farnell. ... To date they haven't answered on here, and on other social media they reverted to abuse.
Good luck with your continued investigations, though I remain of the opinion if the board have made a decision, the thoughts of us fans won't matter one jot.

I think your first mistake is bothering with social media to be honest.

No, the fans won't matter one jot, but you would be surprised what fans can achieve if they put the effort into it.

[ŽižkovClaret]

I think your first mistake is bothering with social media to be honest.

Ok Boomer

[Grumps]

I think your first mistake is bothering with social media to be honest.

No, the fans won't matter one jot, but you would be surprised what fans can achieve if they put the effort into it.

I think you're right, but it's hard to avoid, certainly at the moment

I know they can, it's just a personal opinion, probably because of what I would be like if I was Mr Garlick

[Newcastleclaret93]

So after 56 pages is there actually any evidence to suggest the Middle East deal is a bad deal? Or was it just fan meltdown over nothing?

[NRC]

I would suggest there is no evidence of linkage to the Dubai royal family through that route. El Kashashy personally is in no better position to move the fortunes of the club forward than Mike Garlick is

[scouseclaret]

So after 56 pages is there actually any evidence to suggest the Middle East deal is a bad deal? Or was it just fan meltdown over nothing?

So far, I would say we do know that there are two competing bids, one from the US and one from the middle-east, although that was established some time ago. We still know very little about the people involved, and less still about whether they actually have any money or where it might come from.

[jojomk1]

What I'm seeing at the moment is a club that is second from bottom in the Premier League and currently 4th favourites to be relegated in the next 6-7 months

Even as a Burnley fan, I would have to think very hard before considering investing circa £200+m into such a business scenario

Hoping this happens but not so confident as many on here

[dibraidio]

What I'm seeing at the moment is a club that is second from bottom in the Premier League and currently 4th favourites to be relegated in the next 6-7 months

Even as a Burnley fan, I would have to think very hard before considering investing circa £200+m into such a business scenario

Hoping this happens but not so confident as many on here

If I had 200 million to invest I think now would be the perfect time. But that's speaking as a fan.

[Danieljwaterhouse]

Where have we got to with the craziness then?

[Local cricketer]

Where have we got to with the craziness then?

The only conspiracy theory we haven't had yet is that your been paid by Farnell and pals to spread good news about them

[ClaretTony]

The only conspiracy theory we haven't had yet is that your been paid by Farnell and pals to spread good news about them

There are some in that category I believe

[Bfcshaun]

Hi all.
Just wondering if the club is sold to either of the interested parties for the £200 million that is bandied about, where would the said funds go.
I am led to believe it gets shared out to the major shareholders depending on the percentage of shares they have. If this is the case Mike Garlick has 49.3% so is in line for a potential windfall of 98.6 million.
I would be interested to hear if this is true and if not what would happen to the £200 million.

[Grumps]

There are some in that category I believe

On here?

[mybloodisclaret]

I thought DJW was intially for ALK, with reference to the Northern Powerhouse and silicone valley of the north?

[Danieljwaterhouse]

The only conspiracy theory we haven't had yet is that your been paid by Farnell and pals to spread good news about them

That’s a brilliant rumour.

I am not on the payroll, it’s not my deal.

[ClaretTony]

Hi all.
Just wondering if the club is sold to either of the interested parties for the £200 million that is bandied about, where would the said funds go.
I am led to believe it gets shared out to the major shareholders depending on the percentage of shares they have. If this is the case Mike Garlick has 49.3% so is in line for a potential windfall of 98.6 million.
I would be interested to hear if this is true and if not what would happen to the £200 million.

It's mentioned on this thread, but yes, the shareholders stand to gain from the purchase of the club. Then, it is whether any new owners would wish to invest further.

[Local cricketer]

That’s a brilliant rumour.

I am not on the payroll, it’s not my deal.

Knew you was Egyptian all along. Mohammed el Waterhouse

[gandhisflipflop]

What sort of timeframe are we looking at of the completion of this deal Daniel? It seems to be dragging on to a point that it's worrying if anything will happen at all.

[ewanrob]

My god this is shocking, i cant believe how much the whole thing has imploded...whole thing being ...on the pitch, in the boardroom, the togetherness, and us as fans just bickering. Quite shocking.

[gandhisflipflop]

My god this is shocking, i cant believe how much the whole thing has imploded...whole thing being ...on the pitch, in the boardroom, the togetherness, and us as fans just bickering. Quite shocking.

Some of us saw this coming two and a half years ago with the unnecessary risk taking by not strengthening. Others chose to shout down others as negative and buried their heads in the sand. Some still do.

[DCWat]

Some of us saw this coming two and a half years ago with the unnecessary risk taking by not strengthening. Others chose to shout down others as negative and buried their heads in the sand. Some still do.

We’ve certainly been storing up a problem over a number of windows. It was plain to see.

[bfcjg]

All this uncertainty,rumour,gossip,half truths,lies is damaging the club and if it isn't sorted soon and we get some stability then we will be relegated. I am sick of it.

[Woodleyclaret]

We need this sorting fast its taking ages and Sean needs funds before January

[Steve-Harpers-perm]

All this uncertainty,rumour,gossip,half truths,lies is damaging the club and if it isn't sorted soon and we get some stability then we will be relegated. I am sick of it.

The board is full of Burnley fans I’m sure they are all aware of the damage currently being created and will look to bring the takeover to a speedy completion. Otherwise if they aren’t going to sell I’m sure there will be a plan in place to back the manager in the notoriously difficult January window.

[Sproggy]

I'll have a pint of whatever SHP's on.

[Danieljwaterhouse]

The board is full of Burnley fans I’m sure they are all aware of the damage currently being created and will look to bring the takeover to a speedy completion. Otherwise if they aren’t going to sell I’m sure there will be a plan in place to back the manager in the notoriously difficult January window.

There is no sentiment in business.

[scouseclaret]

There is no sentiment in business.

Many on here still cling to the belief that Garlick and others on the board are Burnley fans first and businessmen second. Personally I've never felt this was the case.

[Dark Cloud]

There is no sentiment in business.

Whilst I'd generally agree with you, I'd quite honestly be absolutely shocked if Barry Kilby saw it that was where BFC are involved, but I do accept that his influence is very limited these days re the direction of the club.

[Grumps]

Club say talks ongoing, but won't say any more

[wilks_bfc]

Club just released a statement about takeover

Regarding various comments in the media, Burnley Football Club confirms that the club’s ownership remain in discussions with interested parties regarding future investment in the club.

In full respect of ongoing processes, the club will not be providing any further commentary on this matter until those discussions have reached a conclusion.

The club wishes to assure supporters and the local community that the future of Burnley Football Club remains the primary concern in these issues, with any potential investment needing to support the club’s long term sustainability and retain its position as a cornerstone of the local community.

Not that it says much

[ClaretTony]

Club just released a statement about takeover




Not that it says much

Although it refers to investment, something Garlick has always referred to, the headline significantly now reports TAKEOVER.

[Jakubs Tash]

Club just released a statement about takeover

Not that it says much

I think the last paragraph is quite telling (considering some of the above comments).

[Zlatan]

takeover.JPG (77.61 KiB) Viewed 3542 times

[Danieljwaterhouse]

Whilst I'd generally agree with you, I'd quite honestly be absolutely shocked if Barry Kilby saw it that was where BFC are involved, but I do accept that his influence is very limited these days re the direction of the club.

I think the board are in open rebellion with each other at the moment. Each vying to promote their own agenda/needs/wants and backing their respective bids.

In respect to Mr Kilby, he is an outstanding human being and people like him are very few and far between in the business world.

[Danieljwaterhouse]

I think the last paragraph is quite telling (considering some of the above comments).

I think that statement is designed to offset the impending fan action(s). It’s a precursor to paving a settled path for either bud being successful. It’s a smart move by the board, and it proves to alienate/call out those on the board who are backing one bid over the other.

[ClaretTony]

In respect to Mr Kilby, he is an outstanding human being and people like him are very few and far between in the business world.

Top, top man is Barry as was his dad Roy who I knew really well too. I think he'd still be chairman and major shareholder but for his cancer but the good news is that he's still with us eight years on and the cancer is under control. Barry is a proper Burnley fan.

[JohnDearyMe]

I think the board are in open rebellion with each other at the moment. Each vying to promote their own agenda/needs/wants and backing their respective bids.

In respect to Mr Kilby, he is an outstanding human being and people like him are very few and far between in the business world.

I'm led to believe that it is Clive Holt's insistence that he is given a double helping of pudding with his meal in the Bob Lord stand in perpetuity that is causing the hold up. He certainly knows how to drive a hard bargain

[CrosspoolClarets]

I do generally agree with the comments about business coming first and fans considerations would be secondary.

Nonetheless, football is different. Most of the board would doubtless want to attend matches in the future, maybe even remain sitting on the board. A sale which pulls the rug completely from under the fans and the manager wouldn’t allow for that - they would become pariahs.

So I do generally believe that the long term stability of the club and the community focus of the town is being discussed actively, rather than disregarded. If push comes to shove, and it is a huge different in the sale price, the higher price will probably win (especially in a declining market, we are probably in a broadcaster-funded bubble now in sport). But hopefully the sale will give us more chance of thriving long term, rather than less.

(unrelated, but if there is something I fear most from this, it is relocation out of town - which may be convenient for travel, for me anyway, but it would ruin the whole social side of coming over, a few beers in nearby pubs etc, and it would wreck local businesses and damage the community element. There are many ways that a new ground business case could stack up, so I fear it could be a hidden agenda, but we’ll see).

[Chester Perry]

Barry is a proper Burnley fan.

No disagreement from me on your sentiments re Barry

It should be pointed out that this single statement could lead to a whole tirade of argument about what is and is not being said about other board members or Burnley fans in general - being a fan means different things to different people. A statement like this, in these incredibly fractious times, particularly on this board is torch paper - even if it isn't meant to be

[CaptJohn]

As someone who does have some "skin in the game" from a financial perspective but also being a lifelong fan of the club I am quite happy for the board to keep matters close to their chest until such time as they can announce a resolution. I do feel that the ongoing speculation and at times frivolous comments on this matter via this platform is both pointless and potentially damaging to the club.

[MACCA]

No disagreement from me on your sentiments re Barry

It should be pointed out that this single statement could lead to a whole tirade of argument about what is and is not being said about other board members or Burnley fans in general - being a fan means different things to different people. A statement like this, in these incredibly fractious times, particularly on this board is torch paper - even if it isn't meant to be

There's a reason "1 Barry Kilby" echoed around the Valley and in Athens.
Mr Kilby is Burnley through and through.

Who knows what it says about the fans views of a man who has, in some fans eyes given us the best 5 years in half century.

Their reputations couldnt be more further apart amongst a fair chunk of the hardcore Burnley faithful.

[KateR]

Just to give a little insight into thinking but clearly I do not know MG or what any of the other directors thinking is:

A few years I had the pleasure to work with the chairman of a Dutch football club, as I used him as a consultant due to some knowledge that he had, which no one in the company had in any depth at the time. I don't claim to know him well but while we worked (several of us) in the evening and dinner I did get a chance to discuss with him around football, his club and his thoughts regarding ownership, becoming champions and fans interaction.

In the simplest of terms he said as a businessman it was probably the worst kind of investment possible giving the weekly changes of highs and lows plus the fans always let you know what they thought, which also varied wildly. As a fan he felt it was an absolute pleasure to be able to impact the fortunes of the club to the best of his ability.

It was however a constant battle of his heart and mind, where he would invest with the constant thought of "you must be crazy", where in any other part of his business empire it would be totally different in terms of risk analysis, value for money and what is the ROI, all of which went out of the window regarding the club and it became much more of a gut belief.

He said he wouldn't change a thing and his only real wish was that he had more to throw at it but his business mentality took over at certain stages because he knew, if he did not have that "spare change" then he would have to sell if he got it drastically wrong and he was sure there was not another fan with enough money to take over the club. Therefore he would have to sell to someone with completely different motives as to why they were buying the club and that for him was a risk step to far, yet he knew at some point due to age/illness his children would take over and they did not have the same love.

Bottom line for him was he would do whatever he could for the club but never put it in jeopardy so the heart ruled the club but at some point the mind would step in, for me I can see the likes of MG having this same issue due to not having limitless funds to throw at it. But to let go needs to be for the right reasons and obviously for the right price, I really don't envy him one little bit personally, when people are doing deals for 10's of millions it takes time. With this, there can be no quick resolution and it will be done when it's done but a resolution one way or another will happen, hopefully it turns out to be worth the wait.

[NewClaret]

Brilliant statement by the club. Very reassuring. Do wish it had been issued after the mirror story first broke. This thread would’ve been very different!

[Danieljwaterhouse]

Brilliant statement by the club. Very reassuring. Do wish it had been issued after the mirror story first broke. This thread would’ve been very different!

You’re missing the subtext! Read above

[Steve-Harpers-perm]

Yes if there was an award for statements made by clubs this one would be right up there!

[bfcmik]

Not that it says much

What were you expecting? A statement that detailed the state of the negotiations? A deal is not done until it is signed off, as long as negotiations are still ongoing there is always a chance it may fall through.

I doubt even the statement acknowledging the eventual sale will say much either. All we will have to dissect are the public statements by the new owners - which will be positive yet bland, forecast a bright future with lofty aims but without any detail of how that may happen.