ALK Capital or Farnell/Elkashashy takeover

[aggi]

I would really like to know in the worst case scenario and the Americans pulled without servicing the debts what would happen to BFC ?

I don't think that's really a scenario.

It's not as easy as many think to asset strip a business, particularly a football club, so what would be in it for ALK? They'd just be making their shares worthless.

[dsr]

I don't think that's really a scenario.

It's not as easy as many think to asset strip a business, particularly a football club, so what would be in it for ALK? They'd just be making their shares worthless.

At present, it is to ALK's advantage to keep BFC running because the assets are greater than the liabilities, mainly because we could certainly sell a few players and have parachute money to come in. If we don't get back up within 2 years and have heavy contract liabilities and bank loans and the likes, and no possibility of making profits to pay them off, that's when it would make commercial sense for ALK to put the club into liquidation, because the shares would already be worthless.

Their best hope for profits is to bet the ranch. If it fails, they have lost very little, but if it succeeds, they can make fortunes. That's the benefit (from their point of view) of such a highly leveraged takeover.

[aggi]

At present, it is to ALK's advantage to keep BFC running because the assets are greater than the liabilities, mainly because we could certainly sell a few players and have parachute money to come in. If we don't get back up within 2 years and have heavy contract liabilities and bank loans and the likes, and no possibility of making profits to pay them off, that's when it would make commercial sense for ALK to put the club into liquidation, because the shares would already be worthless.

Their best hope for profits is to bet the ranch. If it fails, they have lost very little, but if it succeeds, they can make fortunes. That's the benefit (from their point of view) of such a highly leveraged takeover.

Given the opacity of the finances it's hard to define the "very little" that they may lose. Could be anywhere between about £15m and £80m depending on how the second and third tranches of payments to the previous shareholders were funded.

But the scenario you're describing is possible with or without the loans. The loans would add to the burden and may accelerate the process and make coming out of it more difficult but ultimately the Championship, with or without loans, is unsustainable as it stands at the moment.

Look at Preston for instance, they're not a club you associate with big spending but they've been making horrendous losses year on year for the past decade. Same with Millwall or Bristol City (they've been running up some massive losses on the quiet).

[aggi]

Deja vu

Kettering Capital Comapnies House 2024 02 26.png


Calder Vale Holdings Comapnies House 2024 02 26.png

Confirmation statements have now been filed. For Calder Vale and Kettering Capital.

Calder Vale is still owned by Kettering Capital, Kettering Capital is still owned by Velocity Sports Ltd in Jersey (although it is now just a single share for each after the previous reduction in share capital). Nothing particularly new there.

Still no idea why the accounts are so massively overdue or why no enforcement action has been taken on that. Companies House aren't normally so generous.

[Chester Perry]

Confirmation statements have now been filed. For Calder Vale and Kettering Capital.

Calder Vale is still owned by Kettering Capital, Kettering Capital is still owned by Velocity Sports Ltd in Jersey (although it is now just a single share for each after the previous reduction in share capital). Nothing particularly new there.

Still no idea why the accounts are so massively overdue or why no enforcement action has been taken on that. Companies House aren't normally so generous.

Indeed, quite strange from Companies House - I am led to believe that the First Gazette Notices against Kettering Capital and Calder Vale Holdings were withdrawn by Companies House because of Promises to File - that suggestion came from the decision notice in regard to an appeal about Freedom of Information requests in regards to Companies House activities in regards to these two entities.

[dibraidio]

Asset Match auction for Burley FC Holdings Limited is on there now - £300 a share is the current (starting?) bid price

apparently the intention is for an auction every quarter once this one is complete

https://assetmatch.com/news/archive/202 ... set-match/

I got a mail about this last week. 122478 shares at 300 quid each is less than 37m, has the value of the club slumped that much? Are they trying to pick up shares on the cheap? It's not a very dynamic website, I expected to see more than just an advertising page.

[aggi]

I got a mail about this last week. 122478 shares at 300 quid each is less than 37m, has the value of the club slumped that much? Are they trying to pick up shares on the cheap? It's not a very dynamic website, I expected to see more than just an advertising page.

Small shareholdings in a limited company that doesn't pay dividends aren't really worth much. You can't really do anything with it other than hope an offer may get triggered at a future takeover.

Also, Assetmatch is an auction matching buy/sell prices so that £300 may not reflect the final selling price.

[dibraidio]

Small shareholdings in a limited company that doesn't pay dividends aren't really worth much. You can't really do anything with it other than hope an offer may get triggered at a future takeover.

Also, Assetmatch is an auction matching buy/sell prices so that £300 may not reflect the final selling price.

My point is that ALK paid a lot more than that when they bought the club and they offered over 5 times that amount not so long ago. That looks more like the price the shares were traded at when we were in the third tier.

[aggi]

My point is that ALK paid a lot more than that when they bought the club and they offered over 5 times that amount not so long ago. That looks more like the price the shares were traded at when we were in the third tier.

Yes, because buying shares to gain control is a lot different to buying a handful of virtually useless shares from minor shareholders. It's also only a starting price, the order book isn't up yet so far as I can see (due to close the last Friday in April).

[Chester Perry]

I got a mail about this last week. 122478 shares at 300 quid each is less than 37m, has the value of the club slumped that much? Are they trying to pick up shares on the cheap? It's not a very dynamic website, I expected to see more than just an advertising page.

If you click through to this page - there are a series of documents hidden at the bottom right hand side

https://www.assetmatch.com/app/OurCompa ... anyId=2560

one of which is the Admission Statement - a document legally required in such sales events by the Financial Conduct Authority, which is full of errors, factually incorrect information, information that at best could be described as being incomplete and some that I would say actually presents a false picture of the ownership of the club

Also in section 4 is a clear statement of intent that the owners and Vlad Torgovnik see this as a way to pick up additional shares on the cheap - this having stalled individuals from private sales of their shares and then encouraged them to use this platform, which is morally if not legally questionable.

Yes, because buying shares to gain control is a lot different to buying a handful of virtually useless shares from minor shareholders. It's also only a starting price, the order book isn't up yet so far as I can see (due to close the last Friday in April).

the date move is actually the second in a week

[aggi]

If you click through to this page - there are a series of documents hidden at the bottom right hand side

https://www.assetmatch.com/app/OurCompa ... anyId=2560

one of which is the Admission Statement - a document legally required in such sales events by the Financial Conduct Authority, which is full of errors, factually incorrect information, information that at best could be described as being incomplete and some that I would say actually presents a false picture of the ownership of the club

Also in section 4 is a clear statement of intent that the owners and Vlad Torgovnik see this as a way to pick up additional shares on the cheap - this having stalled individuals from private sales of their shares and then encouraged them to use this platform, which is morally if not legally questionable.



the date move is actually the second in a week

I'm not sure where the errors in the document are but I'm not that familiar with the biographies of the directors.

You've misunderstood Section 4. The line:

The Company has been notified that the following shareholder(s) are interested in 3% or more of the issued share capital of the company:

means that these are the shareholders who own (have an interest) of 3% or more of the company. It is a legally required disclosure so far as I'm aware. It doesn't mean anything about wanting to buy shares.

[Chester Perry]

I'm not sure where the errors in the document are but I'm not that familiar with the biographies of the directors.

You've misunderstood Section 4. The line:

The Company has been notified that the following shareholder(s) are interested in 3% or more of the issued share capital of the company:

means that these are the shareholders who own (have an interest) of 3% or more of the company. It is a legally required disclosure so far as I'm aware. It doesn't mean anything about wanting to buy shares.

there are a couple of howlers in Section 4 - one is completely different to a filing at Companies house two days previous

the use of "in" rather than "of" serves a significantly different purpose in my understanding of language

[aggi]

there are a couple of howlers in Section 4 - one is completely different to a filing at Companies house two days previous

the use of "in" rather than "of" serves a significantly different purpose in my understanding of language

Ah yes, looks like the document was prepared in advance and never updated which is a bit sloppy.

I'd be very, very surprised if that isn't a standard disclosure on the shareholdings.

[Chester Perry]

Ah yes, looks like the document was prepared in advance and never updated which is a bit sloppy.

I'd be very, very surprised if that isn't a standard disclosure on the shareholdings.

Which s what I was expecting when I first saw it - as for sloppy, like I said the document is really quite shocking given it is a legal statement

[Chester Perry]

I note that the 2022/23 Accounts for Burnley FC Holdings Limited have been added to the Asset Match document pack, which they should have been in December under FCA rules as I understand them.

Being aware of certain background discussions, this is the reason why I believe that these accounts were released early and quietly.
https://www.assetmatch.com/app/OurCompa ... anyId=2560

[ClaretPete001]

Might be worth getting this conversation back on here but this dropped from the Athletic - not sure if it has been posted elsewhere

Burnley auditors issue warning about club’s financial position in latest accounts
https://theathletic.com/5387967/2024/04 ... ounts-psr/

[Chester Perry]

Might be worth getting this conversation back on here but this dropped from the Athletic - not sure if it has been posted elsewhere

Burnley auditors issue warning about club’s financial position in latest accounts
https://theathletic.com/5387967/2024/04 ... ounts-psr/

doesn't help that Matt Slater reports the clubs loan is still with MSD, when he himself reported that ended in his accounts review for 2021/22 last May

of course they loans have been refinanced 3 times since then and we have no current knowledge as to the MGG agreement - hopefully the release of the Burnley Football and Athletic Club accounts were signed off later than the Burnley FC Holding Company Limited ones and five us some insight in post event date events

[Paul Waine]

doesn't help that Matt Slater reports the clubs loan is still with MSD, when he himself reported that ended in his accounts review for 2021/22 last May

of course they loans have been refinanced 3 times since then and we have no current knowledge as to the MGG agreement - hopefully the release of the Burnley Football and Athletic Club accounts were signed off later than the Burnley FC Holding Company Limited ones and five us some insight in post event date events

All the club's accounts will have been signed off on the same date. There's no way that either Alan Pace/director or the auditors would sign off BFCHL accounts without also signing off the accounts of Burnley Football and Athletic Club (and the other subsids).

[aggi]

doesn't help that Matt Slater reports the clubs loan is still with MSD, when he himself reported that ended in his accounts review for 2021/22 last May

of course they loans have been refinanced 3 times since then and we have no current knowledge as to the MGG agreement - hopefully the release of the Burnley Football and Athletic Club accounts were signed off later than the Burnley FC Holding Company Limited ones and five us some insight in post event date events

As Paul says, the Club accounts are consolidated into the Holdings accounts. There is no way those consolidated accounts would be signed off without other elements also being finalised

[Chester Perry]

ALK/VSL filing at Companies house carries on with it's bizarre somewhat erratic course

Velocity Capital (UK) Holdings Ltd the entity that only last month became the major shareholder in Burnley Football Club has had its company address posted as being at Companies House in Cardiff after it appears (and that is a guess on my part) that the proposed address (at incorporation in April 2023) was not properly registered

https://find-and-update.company-informa ... ng-history

It has taken 3 months but the address for Velocity Capital (UK) Holdings Ltd reverts back to

One Mayfair Place Level 1 Devonshire House Mayfair London W1J 8AJ

also the Confirmation Statement for the same has been filed

https://find-and-update.company-informa ... ng-history

[Chester Perry]

If you click through to this page - there are a series of documents hidden at the bottom right hand side

https://www.assetmatch.com/app/OurCompa ... anyId=2560

one of which is the Admission Statement - a document legally required in such sales events by the Financial Conduct Authority, which is full of errors, factually incorrect information, information that at best could be described as being incomplete and some that I would say actually presents a false picture of the ownership of the club

Also in section 4 is a clear statement of intent that the owners and Vlad Torgovnik see this as a way to pick up additional shares on the cheap - this having stalled individuals from private sales of their shares and then encouraged them to use this platform, which is morally if not legally questionable.



the date move is actually the second in a week

The Asset Match Admission statement has been partially updated - it has still got a number of errors and issues:
- The date of the Submission document remains as December 15 2023 and there is no indication that the document has been updated -surely such changes have legal consequence
- Section 3 now recognises that some directors are not Executive Directors, which is an important legal distinction
- Section 4 begins with a statement about issued shares that refers to a date after the (supposed) date of the document, which as already noted should have the revised date of submission on it, to my mind the update should actually be filed as an addendum to the original
- Section 4 has one statement of shares held that I understand to be false it is also, at best, ambiguous about the relationship of the two primary shareholders, though the name of the major shareholder is now correct
- Section 4 is also vague about naming Velocity Sports - there have been 4 such entities under the ALK/VSL umbrella with three: Velocity Sports Partners LLC, Velocity Sports Feeder Ltd (Jersey) and Velocity Sports Ltd (Jersey). for those who think the answer is obviously the latter, that is not where I understand these shares are held.
- the reminder after section 7 refers to the auction ending prior to this update - the auction date has changed twice since that one was established

all these points were found on a swift perusal, which should signify how much effort and integrity Burnley FC, it's directors - note the responsibility statement in section 7, its legal advisors and indeed Asset Match themselves have applied to this document and consequently this share auction

https://www.assetmatch.com/app/OurCompa ... anyId=2560

[ClaretPete001]

The Asset Match Admission statement has been partially updated - it has still got a number of errors and issues:
- The date of the Submission document remains as December 15 2023 and there is no indication that the document has been updated -surely such changes have legal consequence
- Section 3 now recognises that some directors are not Executive Directors, which is an important legal distinction
- Section 4 begins with a statement about issued shares that refers to a date after the (supposed) date of the document, which as already noted should have the revised date of submission on it, to my mind the update should actually be filed as an addendum to the original
- Section 4 has one statement of shares held that I understand to be false it is also, at best, ambiguous about the relationship of the two primary shareholders, though the name of the major shareholder is now correct
- Section 4 is also vague about naming Velocity Sports - there have been 4 such entities under the ALK/VSL umbrella with three: Velocity Sports Partners LLC, Velocity Sports Feeder Ltd (Jersey) and Velocity Sports Ltd (Jersey). for those who think the answer is obviously the latter, that is not where I understand these shares are held.
- the reminder after section 7 refers to the auction ending prior to this update - the auction date has changed twice since that one was established

all these points were found on a swift perusal, which should signify how much effort and integrity Burnley FC, it's directors - note the responsibility statement in section 7, its legal advisors and indeed Asset Match themselves have applied to this document and consequently this share auction

https://www.assetmatch.com/app/OurCompa ... anyId=2560

Hmmm the song remains the same on that score.

Has there been any discussion on the huge increase in creditors beyond one year in the latest accounts?

[aggi]

The Asset Match Admission statement has been partially updated - it has still got a number of errors and issues:
- The date of the Submission document remains as December 15 2023 and there is no indication that the document has been updated -surely such changes have legal consequence
- Section 3 now recognises that some directors are not Executive Directors, which is an important legal distinction
- Section 4 begins with a statement about issued shares that refers to a date after the (supposed) date of the document, which as already noted should have the revised date of submission on it, to my mind the update should actually be filed as an addendum to the original
- Section 4 has one statement of shares held that I understand to be false it is also, at best, ambiguous about the relationship of the two primary shareholders, though the name of the major shareholder is now correct
- Section 4 is also vague about naming Velocity Sports - there have been 4 such entities under the ALK/VSL umbrella with three: Velocity Sports Partners LLC, Velocity Sports Feeder Ltd (Jersey) and Velocity Sports Ltd (Jersey). for those who think the answer is obviously the latter, that is not where I understand these shares are held.
- the reminder after section 7 refers to the auction ending prior to this update - the auction date has changed twice since that one was established

all these points were found on a swift perusal, which should signify how much effort and integrity Burnley FC, it's directors - note the responsibility statement in section 7, its legal advisors and indeed Asset Match themselves have applied to this document and consequently this share auction

https://www.assetmatch.com/app/OurCompa ... anyId=2560

It does all seem a bit half assed. It smacks of the stuff professionals end up having to sort out after being produced in-house by someone who read the guidance but struggles to translate that to the actual requirements.

There's no legal distinction between different types of director. A director is a director for the purposes of law (it's actually a pretty broad definition).

The shareholding thing is weird. The shares that were with VELOCITY CAPITAL (UK) HOLDINGS LIMITED at the time of the annual return now seems to be with Velocity Sports (I'd guess Jersey but not clear as you say) for some reason (VELOCITY CAPITAL (UK) HOLDINGS LIMITED is obviously owned by Velocity Sports Ltd in Jersey so maybe they were trying to reflect that or maybe the shares have transferred for some reason).

The whole share shifting around is interesting. The companies must be part of the same capital gains group to be able to do that without incurring a tax charge but for all other purposes the wider group structure is a bit glossed over.

[Chester Perry]

It does all seem a bit half assed. It smacks of the stuff professionals end up having to sort out after being produced in-house by someone who read the guidance but struggles to translate that to the actual requirements.

There's no legal distinction between different types of director. A director is a director for the purposes of law (it's actually a pretty broad definition).

The shareholding thing is weird. The shares that were with VELOCITY CAPITAL (UK) HOLDINGS LIMITED at the time of the annual return now seems to be with Velocity Sports (I'd guess Jersey but not clear as you say) for some reason (VELOCITY CAPITAL (UK) HOLDINGS LIMITED is obviously owned by Velocity Sports Ltd in Jersey so maybe they were trying to reflect that or maybe the shares have transferred for some reason).

The whole share shifting around is interesting. The companies must be part of the same capital gains group to be able to do that without incurring a tax charge but for all other purposes the wider group structure is a bit glossed over.

Just been reminded to look at this by todays 'From the Bee Hole End' podcast

that allocation to Velocity Capital (UK) Holdings ltd in the Confirmation Statement is incorrect according to my understanding, it never held those shares, they were immediately assigned to the Velocity Sports entity I alluded to above - which is not the one you assume, as I warned.

[Chester Perry]

Filings starting to appear at Companies House relating to the Accounts of Burnley FC Holdings Ltd (released on Easter Monday by the club
https://find-and-update.company-informa ... ng-history

and

Burnley Football and Athletic Club Limited https://find-and-update.company-informa ... ng-history

[Chester Perry]

It is worthwhile adding to this thread the three new members of the ownership group discussed on the From The Bee Hole End Podcast thread over the weekend

Eugene Kan
https://hk.linkedin.com/in/eugenekan
who had this to say about his involvement
https://www.linkedin.com/posts/eugeneka ... ic_profile
Sean Wong
https://hk.linkedin.com/in/sean-wong-3a ... ap-profile
Justin Kuok
https://hk.linkedin.com/in/justin-kuok-b8a95625

all were introduced to the club by Jean Baptiste Roy - there appeared to be three others he has introduced as well but no names yet

https://hk.linkedin.com/in/jeanbaptiste ... din.com%2F

he wrote this about his latest visit - which is the same one that Eugene Kan wrote about
https://www.linkedin.com/posts/jeanbapt ... ic_profile

it would be nice to identify the others in this photo with Vincent Kompany

[PWBFC]

Four others are tagged in the post so you can see who they are.

[NewClaret]

Great research CP. Other names for you:

Lorenzo Valceschini - looks to work at Stone Island
Souley Wague
Chris North
Jean-Baptiste Roy - asiasportstech.com
Huan Nguyen - looks to work for hypebeast which is a link Eugene Kan who also used to work there.

[Chester Perry]

Great research CP. Other names for you:

Lorenzo Valceschini - looks to work at Stone Island
Souley Wague
Chris North
Jean-Baptiste Roy - asiasportstech.com
Huan Nguyen - looks to work for hypebeast which is a link Eugene Kan who also used to work there.

So we have
Lorenzo Valceschini
https://it.linkedin.com/in/lorenzo-valceschini-6628bab2

Souleymane Wague
https://fr.linkedin.com/in/souleymane-w ... e.co.uk%2F

Huan Nguyen
https://www.linkedin.com/in/huan234

does anyone have a link for some detail about Chris North?

[NewClaret]

So we have
Lorenzo Valceschini
https://it.linkedin.com/in/lorenzo-valceschini-6628bab2

Souleymane Wague
https://fr.linkedin.com/in/souleymane-w ... e.co.uk%2F

Huan Nguyen
https://www.linkedin.com/in/huan234

does anyone have a link for some detail about Chris North?

No other info on his instagram page.

I will surmise I don’t think any of these guys are billionaires, unfortunately.

[Chester Perry]

No other info on his instagram page.

I will surmise I don’t think any of these guys are billionaires, unfortunately.

can you link that please

It doesn't matter unless they want to buy Pace and co out in full - 'Co-owners' like these are just investors, who may be useful in a few areas as the core group can learn specifics from them (and use them for their own purposes - just look how happy they are

[NewClaret]

https://www.instagram.com/chrisnorth85? ... MwYjduNmNv

I’d still prefer billionaires but I imagine they’d want a more significant stake and say in the running of the club so I imagine not realistic. These guys seem to be based in Asia and have some links to fashion/culture so maybe they’ll be bringing expertise on how we tap in to that market.

At one point I thought the plan was to get famous US stars invest but that’s gone quiet after JJ and DP.

[Paul Waine]

No other info on his instagram page.

I will surmise I don’t think any of these guys are billionaires, unfortunately.

ALK and VSP isn't about "billionaires," New. It's about Burnley giving a lot of wealthy millionaires the opportunity to have a share in ownership of Burnley football club. It's the very opposite of an individual billionaire or two.

It's great to see the multinational mix amongst the club's ownership group.

UTC

[NewClaret]

ALK and VSP isn't about "billionaires," New. It's about Burnley giving a lot of wealthy millionaires the opportunity to have a share in ownership of Burnley football club. It's the very opposite of an individual billionaire or two.

It's great to see the multinational mix amongst the club's ownership group.

UTC

Yes, I understand and agree about the ownership mix. I would just like it to be a lot of wealthy billionaires getting the opportunity to invest in Burnley

[Hapag Lloyd]

It is worthwhile adding to this thread the three new members of the ownership group discussed on the From The Bee Hole End Podcast thread over the weekend

Eugene Kan
https://hk.linkedin.com/in/eugenekan
who had this to say about his involvement
https://www.linkedin.com/posts/eugeneka ... ic_profile
Sean Wong
https://hk.linkedin.com/in/sean-wong-3a ... ap-profile
Justin Kuok
https://hk.linkedin.com/in/justin-kuok-b8a95625

all were introduced to the club by Jean Baptiste Roy - there appeared to be three others he has introduced as well but no names yet

https://hk.linkedin.com/in/jeanbaptiste ... din.com%2F

he wrote this about his latest visit - which is the same one that Eugene Kan wrote about
https://www.linkedin.com/posts/jeanbapt ... ic_profile

it would be nice to identify the others in this photo with Vincent Kompany

I don’t know if Justin is related but the Kuok family are one of the wealthiest in Malaysia.

[dsr]

ALK and VSP isn't about "billionaires," New. It's about Burnley giving a lot of wealthy millionaires the opportunity to have a share in ownership of Burnley football club. It's the very opposite of an individual billionaire or two.

It's great to see the multinational mix amongst the club's ownership group.

UTC

And with a share in ownership, no doubt they expect a share in the profits.

[NewClaret]

And with a share in ownership, no doubt they expect a share in the profits.

True. I’m not sure how this differs from our previous investors who also wanted to, and did, benefit from massive profits.

[Chester Perry]

I don’t know if Justin is related but the Kuok family are one of the wealthiest in Malaysia.

He is, his father 'Chye' Kuok Khoon Ho is the nephew of Robert Kuok the founder of the family's business Empire

Justin is part of the third generation of the family and his interest in the club is some distance from the core family wealth and enterprise which is spread all over Asia.

some information on the 1st and 2nd generation of the family here

https://www.forbes.com/profile/kuok/

The founder

https://en.wikipedia.org/wiki/Robert_Kuok

The Kuok Group

https://www.kuokgroup.com/about

[daveisaclaret]

Not really clear to me how anyone can view our current ownership with anything other than dread and upset.

[Chester Perry]

True. I’m not sure how this differs from our previous investors who also wanted to, and did, benefit from massive profits.

For now and the foreseeable I think it is being marketed as an asset investment based on capital growth rather than an income producing investment - the development of the multi-club format we are expecting does not change that

[NewClaret]

I don’t know if Justin is related but the Kuok family are one of the wealthiest in Malaysia.

Good spot.

Seems he could be linked given he is given he previously worked at Shangri-La which is owned by the Kuok family. Robert Kuok being worth $17.7BN and the 97th richest man in the world according to wiki.

He’s married to what appears to be a socialite:

https://www.tatlerasia.com/style/fashio ... -interview

Whose parents seem to be in to fashion/investment management:

https://www.tatlerasia.com/people/reina-chau

https://www.tatlerasia.com/people/kevin-chau

Starting to feel a bit stalkerish now. This is all just to help CP out of course

Hoping Reina can upgrade our merch

[NewClaret]

For now and the foreseeable I think it is being marketed as an asset investment based on capital growth rather than an income producing investment - the development of the multi-club format we are expecting does not change that

I agree and I think that is what it was also for Garlick & JB. My point being the only real change is the debt, which I understand fans not liking, but any owners we have are going to hope for a profit at some point. Just like the investors in every football club/business.

[NewClaret]

He is, his father 'Chye' Kuok Khoon Ho is the nephew of Robert Kuok the founder of the family's business Empire

Justin is part of the third generation of the family and his interest in the club is some distance from the core family wealth and enterprise which is spread all over Asia.

some information on the 1st and 2nd generation of the family here

https://www.forbes.com/profile/kuok/

The founder

https://en.wikipedia.org/wiki/Robert_Kuok

The Kuok Group

https://www.kuokgroup.com/about

Great work again CP.

[NewClaret]

His grandfather (I assume):

https://en.m.wikipedia.org/wiki/Kuok_Khoon_Hong

Worth $3.7BN according to wiki.

Might be worth a bit more than I thought

[Quickenthetempo]

It's great to see the multinational mix amongst the club's ownership group.

UTC

Hi Paul, why do you think it's better for the club to have a multinational mix in the ownership?

[Chester Perry]

Hi Paul, why do you think it's better for the club to have a multinational mix in the ownership?

It is probably better to ask why is the boardroom and much of the senior staff on the business side such a contrast, when the FA has set targets for a much greater diversity.

[NewClaret]

Hi Paul, why do you think it's better for the club to have a multinational mix in the ownership?

Not answering for Paul but I definitely think having Asian investors is a positive in terms of giving insight and ideas in how we might be able to grow in that region.

[GetIntoEm]

Hi Paul, why do you think it's better for the club to have a multinational mix in the ownership?

these "minority" share holders are brought in to increase profile in overseas territory, in terms of financial they are bringing very little. including JJ in that

[randomclaret2]

Not answering for Paul but I definitely think having Asian investors is a positive in terms of giving insight and ideas in how we might be able to grow in that region.

Some insight and ideas on how to win games in the Premier League woukdnt go amiss

[NewClaret]

Some insight and ideas on how to win games in the Premier League woukdnt go amiss

Don’t think they’ll be offering that!