ALK Capital or Farnell/Elkashashy takeover

[claretonthecoast1882]

page 93

[Zlatan]

Tits?

Not just me who thinks that whenever that’s mentioned then

[joey13]

Tits?

Let’s hope not

[nil_desperandum]

If ALK are meeting with Garlick etc today in London, would that not imply there is still more to do? An announcement today seems unlikely if they are still in discussions.

To get to this stage they've presumably already had a good number of meetings. The fact that they are now meeting face to face, (despite covid etc.) is surely significant?

[Newcastleclaret93]

To get to this stage they've presumably already had a good number of meetings. The fact that they are now meeting face to face, (despite covid etc.) is surely significant?

I just assumed today’s meeting is because premier league have signed of the owners test and they are meeting to exchange contracts. I can’t see any other reason they would meet in person at this stage given the current Covid restrictions.

[nil_desperandum]

I just assumed today’s meeting is because premier league have signed of the owners test and they are meeting to exchange contracts. I can’t see any other reason they would meet in person at this stage given the current Covid restrictions.

Yes, that would be my reading of it too, but this is Burnley FC, so who knows?

[jedi_master]

To get to this stage they've presumably already had a good number of meetings. The fact that they are now meeting face to face, (despite covid etc.) is surely significant?

Yeah, totally possible and you're hopefully right.

I just think when our club tends to be chronically poor at communicating anything in a timely manner that it would be unlikely for the shareholders to be (socially distanced) shaking hands in London this afternoon, for us to then hear about it as quickly as today also. I hope I am wrong as it would be a nice way to start the weekend.

[Jakubs Tash]

I just assumed today’s meeting is because premier league have signed of the owners test and they are meeting to exchange contracts. I can’t see any other reason they would meet in person at this stage given the current Covid restrictions.

I would agree that is a fair assumption. They are at the end of the process now and any meetings won’t be hard negotiation as the majority of that has been done and signed off....apparently.

[NewClaret]

A question to the financial experts....
How legally binding are these documents that the Egyptian bid have possibly signed? And could it affect any other bid being successful?

I’m certainly no expert Grumps, but a Sale and Purchase Agreement is binding (or has been in my experience), which is why I always thought it odd that it was reportedly signed but ALK were still in the race. I think it’s more likely that we’d just signed Heads of Terms, which are non-binding and basically sets the foundation for the SPA. No idea what documents they are exchanging in this case though!

[NewClaret]

Got an awful feeling that the club are going to troll us with a tweet today...


Then announce a Brady extension!

[Steve-Harpers-perm]

I just assumed today’s meeting is because premier league have signed of the owners test and they are meeting to exchange contracts. I can’t see any other reason they would meet in person at this stage given the current Covid restrictions.

Fingers crossed. As you say be odd to meet in person just to continue any negotiations in the current climate.

[lakedistrictclaret]

I hope the new owners do want to buy up all the existing shares. I've got four. Could be a nice little earner!

[bfcjg]

They can buy my share for whatever it's worth, couple of quid ? However my longside paper weight fashioned from a bit of the terrace when we could get souvenirs that Sunday must be worth $150 depending on the exchange rate.

[Hedontplayforyou]

page 93

Yeeeeeeeehaaaaaaaaa

[Danieljwaterhouse]

I think It’ll get signed today, and there will be a press release about lunchtime to the city.

They might wait until tomorrow for the full media roll out.

All dependant on the last minute haggling as each tries to manoeuvre the other on signing day. Hence why a lot of sales/transfers don’t come through or are delayed. You wouldn’t believe the audacity of some people when your pens hovering above a signature line!

[Danieljwaterhouse]

I hope the new owners do want to buy up all the existing shares. I've got four. Could be a nice little earner!

As long as there’s no threat to the business operations, I think it’s always nice to have a token fan ownership percentage.

[randomclaret2]

I think It’ll get signed today, and there will be a press release about lunchtime to the city.

They might wait until tomorrow for the full media roll out.

All dependant on the last minute haggling as each tries to manoeuvre the other on signing day. Hence why a lot of sales/transfers don’t come through or are delayed. You wouldn’t believe the audacity of some people when your pens hovering above a signature line!

Fingers crossed

[arise_sir_charge]

They can buy my share for whatever it's worth, couple of quid ? However my longside paper weight fashioned from a bit of the terrace when we could get souvenirs that Sunday must be worth $150 depending on the exchange rate.

I'll give you a couple of quid for the share, I'll stretch to a tenner. Need to get it transferred to me very quickly though.

[NewClaret]

I think It’ll get signed today, and there will be a press release about lunchtime to the city.

They might wait until tomorrow for the full media roll out.

All dependant on the last minute haggling as each tries to manoeuvre the other on signing day. Hence why a lot of sales/transfers don’t come through or are delayed. You wouldn’t believe the audacity of some people when your pens hovering above a signature line!

Do you think this is exchange or completion DJW?

[Steddyman]

ClaretsMad used to have a 500 post limit, I think

That’s what I must be thinking of. Ta

[Danieljwaterhouse]

Do you think this is exchange or completion DJW?

I think it depends if there’s revisions, legal will brick it on a Friday and ask to push to Monday.

I’ll say completion, I’m an optimist. I’m also winning the Euromillions tonight!

[scouseclaret]

I think It’ll get signed today, and there will be a press release about lunchtime to the city.

They might wait until tomorrow for the full media roll out.

All dependant on the last minute haggling as each tries to manoeuvre the other on signing day. Hence why a lot of sales/transfers don’t come through or are delayed. You wouldn’t believe the audacity of some people when your pens hovering above a signature line!

The city? What the hell has "the city" got to do with the private transfer of a northern football club???

[KRBFC]

I would keep Dyche,ask Garlick to step away and ask Baŕry Kilby to step up and guide the transition period.

Absolutely, Kilbys a proper Claret, hopefully he remains here as long as possible. I have no idea on the current health of BK or his willingness to work in a hands on role but he’d be the perfect guy for ALK to keep around in a major role.

[Spijed]

They can buy my share for whatever it's worth, couple of quid ? However my longside paper weight fashioned from a bit of the terrace when we could get souvenirs that Sunday must be worth $150 depending on the exchange rate.

I think the current shares are £200 each.

[arise_sir_charge]

I think the current shares are £200 each.

No, they are worth what somebody is prepared to pay for them.

[Danieljwaterhouse]

The city? What the hell has "the city" got to do with the private transfer of a northern football club???

Where do you think the moneys coming from?! Thin air? A NatWest piggy bank?!

[Paul Waine]

I think the current shares are £200 each.

Anyone looking to cash out at £200?

[NewClaret]

I think it depends if there’s revisions, legal will brick it on a Friday and ask to push to Monday.

I’ll say completion, I’m an optimist. I’m also winning the Euromillions tonight!

If it’s completion, there won’t be any haggling as the pen hovers over the signature strip mate. The deal agreed, probably weeks ago, will be binding and the next signature a formality on exchange of monies.

Even if it were exchange, I’d expect a deal of this nature to be extremely complex and have undergone multiple, excruciatingly boring page turns by either sides lawyers. To be haggling long after you’ve printed your final draft and stuck the little signature post-it’s on would be extremely bad form.

I also can’t see why we’d announce to the city given it’s two private companies completing the deal?

Although I also can’t understand why they’d do it in London either. I’d expect ALK will want to meet the players, staff, in-house comms, local media, etc straight away after the ink was dry - none of which can be done so far away. Makes me think that is more exchange than completion.

[arise_sir_charge]

Anyone looking to cash out at £200?

I'll split them with you if people are

[Turfytop]

Where do you think the moneys coming from?! Thin air? A NatWest piggy bank?!

Try to ignore him djw, looks like he is looking for an argument again, plenty on here want to read your posts

[Danieljwaterhouse]

If it’s completion, there won’t be any haggling as the pen hovers over the signature strip mate. The deal agreed, probably weeks ago, will be binding and the next signature a formality on exchange of monies.

Even if it were exchange, I’d expect a deal of this nature to be extremely complex and have undergone multiple, excruciatingly boring page turns by either sides lawyers. To be haggling long after you’ve printed your final draft and stuck the little signature post-it’s on would be extremely bad form.

I also can’t see why we’d announce to the city given it’s two private companies completing the deal?

Although I also can’t understand why they’d do it in London either. I’d expect ALK will want to meet the players, staff, in-house comms, local media, etc straight away after the ink was dry - none of which can be done so far away. Makes me think that is more exchange than completion.

It depends which legal the club are using....

Where the moneys coming from and i would venture that there’s a number of private equity...

Last minute haggling is always done, people always want more. So yes it could be revised and then revisited

[Boss Hogg]

Unless the funding is coming from a publicly quoted company ( such as a quoted PE firm) no announcement is needed to the City.

[Paul Waine]

The city? What the hell has "the city" got to do with the private transfer of a northern football club???

We known that BFC is not quoted on the London stock exchange. However, ALK Capital is a US entity. It may be that "the city" is New York and it may be that we have the answer to the question "where is the money coming from" when the takeover is announced before the New York market opens at 14:00 GMT today.....


Or, maybe not.

Exciting times.

I saw that someone mentioned Scalextric in a post earlier. It takes me back to Christmas 1960/61. Me and my brother got a Scalextric race track for Christmas, plus the Jag racing cars, one in British Racing Green, the other in royal blue. It was well beyond the scale of our expectations and we'd not dared to put it on a list to Santa. He'd kept it quiet for a few weeks - my Dad had won it in a competition. Happy memories!

UTC

[Danieljwaterhouse]

Unless the funding is coming from a publicly quoted company ( such as a quoted PE firm) no announcement is needed to the City.

We will find out where the moneys coming from then...

[MACCA]

If the "things should get done today" is the same type of McNeil and/or Tarky is at Leicester type of day, then... well just make your own minds up as to what you wish to believe.

Not a dig at anyone on this thread or those sharing info, but you can read this thread hourly, and be no further informed than a guy who flicks through the telegraph once a week.

All pure guesswork with no actual real content, or much that's been revealed or broken.

[Dyched]

A1A9728E-72A5-4BFF-ADCF-B8F09F2A75FC.jpeg (63.17 KiB) Viewed 2661 times

If you see me out today, give us a wave guys!

[Aclaret]

Could be a double today... takeover announced... Jordan wins. Get the champagne on ice.

Exciting times indeed Frank. There's also the Tinned food count, the Euro lottery I'm winning tonight, England cricket on all day.......oh and the Clarets have a game tomorrow which we will win 1-0.

[FactualFrank]

Exciting times indeed Frank. There's also the Tinned food count, the Euro lottery I'm winning tonight, England cricket on all day.......oh and the Clarets have a game tomorrow which we will win 1-0.

Yep. And if there is no announcement today, we have pages 94 and 95 to look forward to. Win-win.

[Paul Waine]

If it’s completion, there won’t be any haggling as the pen hovers over the signature strip mate. The deal agreed, probably weeks ago, will be binding and the next signature a formality on exchange of monies.

Even if it were exchange, I’d expect a deal of this nature to be extremely complex and have undergone multiple, excruciatingly boring page turns by either sides lawyers. To be haggling long after you’ve printed your final draft and stuck the little signature post-it’s on would be extremely bad form.

I also can’t see why we’d announce to the city given it’s two private companies completing the deal?

Although I also can’t understand why they’d do it in London either. I’d expect ALK will want to meet the players, staff, in-house comms, local media, etc straight away after the ink was dry - none of which can be done so far away. Makes me think that is more exchange than completion.

I'm not sure whether the concept of "exchange and completion" exists when you are buying shares. Yes, important for those two steps in the purchase of a residential property, but in all the deals I've ever been involved with exchange of the "sale and purchase" agreement means the deal is done and everything else will follow according to the contract.

I'm not in the know. It is possible that at the meeting in London today the contracts will be signed by both parties a press release will be issued and both the directors, led by Mike Garlick and Alan Pace/ALK will be available for press interviews.

The team have got a game at 12:30 Saturday and everyone is observing covid-19 protocols. It may be that ALK have a representative at Barnfield this afternoon to announce to the team and other staff that ALK are now the new owners, or it might be that a "video" call is set up to let them all know fro m the guys in London.

All just "guess work" on my part.

Exciting times

UTC

[MACCA]

Exciting times indeed Frank. There's also the Tinned food count, the Euro lottery I'm winning tonight, England cricket on all day.......oh and the Clarets have a game tomorrow which we will win 1-0.

Sorry to dampen your day, but cricket is off due to a Saffa testing positive

[scouseclaret]

Where do you think the moneys coming from?! Thin air? A NatWest piggy bank?!

No idea. That’s what I can’t wait to find out.

[Aclaret]

Sorry to dampen your day, but cricket is off due to a Saffa testing positive

[Danieljwaterhouse]

No idea. That’s what I can’t wait to find out.

Me too!

[Grumps]

I think there could be a lot of disappointed people on here today

[NewClaret]

I think there could be a lot of disappointed people on here today

It’ll be like transfer deadline day all over again...

I’m used to it!

[NewClaret]

I saw that someone mentioned Scalextric in a post earlier. It takes me back to Christmas 1960/61. Me and my brother got a Scalextric race track for Christmas, plus the Jag racing cars, one in British Racing Green, the other in royal blue. It was well beyond the scale of our expectations and we'd not dared to put it on a list to Santa. He'd kept it quiet for a few weeks - my Dad had won it in a competition. Happy memories!

UTC

Brilliant story mate!

Brightened my day up.

[claretonthecoast1882]

A1A9728E-72A5-4BFF-ADCF-B8F09F2A75FC.jpeg

If you see me out today, give us a wave guys!

I thought that was next seasons home kit

[ClaretTony]

I’d be very surprised if they didn’t buy all the shares. They are buying the club, and I’d assume the quoted £200m refers to it all.
Have you tried to contact Garlick?

You are making assumptions.

1. If they are buying all the shares to own 100% of the club, I know a lot of shareholders who have not been contacted.
2. Are they buying the club or are they buying shares from two directors?
3. Not sure but I think the £200m value might have been touted by Farnell's people.
4. Contacted Garlick? No, should I be doing?

[ClaretTony]

I think the current shares are £200 each.

They are £1 shares. The £200 that you refer to was the price the company put on them when there was a new share issue in 1999.

[NRC]

Where is it reported ALK flying in? And I can’t see them traveling north if they do, government mandates restrict movement as the US is not a corridor country. Believe me I know, having just maneuvered plans to enter the UK for New Year... it’s almost as if the Government has allocated someone from the Secret Service to ride in the back seat with me