Investors being investors isn't it ... Nothing to worry about in my eyes.JohnMcGreal wrote: ↑Mon Feb 01, 2021 9:59 pmSo if they had to borrow a load of money to buy the club, and now they need to borrow more money just to service the debts (or make the next payments), what exactly is Burnley Football Club getting out of this?
How are these people going to invest in the squad for example, when they can barely afford to meet the costs of actually buying the club to begin with?
ALK Capital or Farnell/Elkashashy takeover
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Re: ALK Capital or Farnell/Elkashashy takeover
Re: ALK Capital or Farnell/Elkashashy takeover
Oh well that's cleared that up then!
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Re: ALK Capital or Farnell/Elkashashy takeover
Who is the "ALK Spokesperson " ? Do they issue statements via Chris Boden now ?
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Re: ALK Capital or Farnell/Elkashashy takeover
There was absolutely nothing wrong with that tweet at all, this guy has been round the block several times, responsible for some of the best investigative journalism at the highest levels of sport including FIFA, UEFA and the IOC. He has seen lots of owners come and go across a number of sports and leagues and recognises a common theme when he sees one.Claretnick wrote: ↑Mon Feb 01, 2021 10:02 pmYeah interesting that this journalist made a rather sarcastic tweet on 30 Jan about Pace's recent interview.
'Sounds like another case of “cleverest man in the room”. Time will tell'.
Re: ALK Capital or Farnell/Elkashashy takeover
Statement from ALK to Boden. Oh dear oh dear.
Re: ALK Capital or Farnell/Elkashashy takeover
For me, some of the comments about our club going from debt free, to being heavily in debt, through a buyout has me worried about the long term future of BFC.
I haven't a background in finance, but try my best to follow the wise people, who have a very good understanding of finance. They keep us informed about money issues involved in the takeover. They've been digging deep for information in Companies House about the ALK and the other 2 companies involved, to keep us well informed, which I'm grateful for.
Have I read somewhere, that if the fortunes of BFC, take a turn for the worst with ALK, MG has an option to buy back the Club.
I haven't a background in finance, but try my best to follow the wise people, who have a very good understanding of finance. They keep us informed about money issues involved in the takeover. They've been digging deep for information in Companies House about the ALK and the other 2 companies involved, to keep us well informed, which I'm grateful for.
Have I read somewhere, that if the fortunes of BFC, take a turn for the worst with ALK, MG has an option to buy back the Club.
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Re: ALK Capital or Farnell/Elkashashy takeover
Well excuse me for thinking that the tone of his tweet sounded rather sarcastic. If he was so clever about this type of ownership why no alarm bells sounded by him?Chester Perry wrote: ↑Mon Feb 01, 2021 10:14 pmThere was absolutely nothing wrong with that tweet at all, this guy has been round the block several times, responsible for some of the best investigative journalism at the highest levels of sport including FIFA, UEFA and the IOC. He has seen lots of owners come and go across a number of sports and leagues and recognises a common theme when he sees one.
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Re: ALK Capital or Farnell/Elkashashy takeover
some of the panic on here is impressive
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Re: ALK Capital or Farnell/Elkashashy takeover
Worryingly these storys are coming from well respected journalists
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Re: ALK Capital or Farnell/Elkashashy takeover
If ALK do not meet the outstanding payments on schedule then the shares revert back to Mike and John according to reportsBfc wrote: ↑Mon Feb 01, 2021 10:22 pmFor me, some of the comments about our club going from debt free, to being heavily in debt, through a buyout has me worried about the long term future of BFC.
I haven't a background in finance, but try my best to follow the wise people, who have a very good understanding of finance. They keep us informed about money issues involved in the takeover. They've been digging deep for information in Companies House about the ALK and the other 2 companies involved, to keep us well informed, which I'm grateful for.
Have I read somewhere, that if the fortunes of BFC, take a turn for the worst with ALK, MG has an option to buy back the Club.
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Re: ALK Capital or Farnell/Elkashashy takeover
What though, is to stop ALK taking on further loans from MSD Holdings, or others, on some punitive interest rates to pay the necessary payments? Sadly i dont see it as the safety net some on here seem to be.Chester Perry wrote: ↑Mon Feb 01, 2021 10:25 pmIf ALK do not meet the outstanding payments on schedule then the shares revert back to Mike and John according to reports
Re: ALK Capital or Farnell/Elkashashy takeover
Not as impressive as the ignorance
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Re: ALK Capital or Farnell/Elkashashy takeover
Oh phew. At least then we’ll some investment investment in the teamChester Perry wrote: ↑Mon Feb 01, 2021 10:25 pmIf ALK do not meet the outstanding payments on schedule then the shares revert back to Mike and John according to reports
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Re: ALK Capital or Farnell/Elkashashy takeover
When he has something to report he reports it, Matt Slater made his report was battered for it - Slater is another highly regarded journo - Panja;s tweet was a response to the rob harris one about his interview with Pace - Panja and Harris along with Martyn Ziegler are mates and have their own podcast on the business of sport and the major issues in sport.Claretnick wrote: ↑Mon Feb 01, 2021 10:24 pmWell excuse me for thinking that the tone of his tweet sounded rather sarcastic. If he was so clever about this type of ownership why no alarm bells sounded by him?
your reaction is more about a fan being protective of his club and his 'own' I suggest - I posted it on the jordan north thread with a different kind of response
Chester Perry wrote: ↑Sat Jan 30, 2021 3:18 pmperceptions of fans and some in the media can be quite different
https://twitter.com/tariqpanja/status/1 ... 7203400705
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Re: ALK Capital or Farnell/Elkashashy takeover
I would be keen to get an understanding from the Premier League as to what ‘Proof of funds’ was provided by ALK Capital.
It does make the speculation from earlier that ALK were on the verge of buying a Serie A club all the more wild. If you can barely afford the club you’ve just ‘bought’, why are you buying another!
I’ll remain optimistic about the takeover and adopt a wait and see approach, but for sure there are a few warning signs, and I’m not really referring to the lack of business with that.
It does make the speculation from earlier that ALK were on the verge of buying a Serie A club all the more wild. If you can barely afford the club you’ve just ‘bought’, why are you buying another!
I’ll remain optimistic about the takeover and adopt a wait and see approach, but for sure there are a few warning signs, and I’m not really referring to the lack of business with that.
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Re: ALK Capital or Farnell/Elkashashy takeover
You’d maybe expect there’s a way MG/JB could cover that so it has to be funded through equity raising. What mechanism they’d use, I’m not sure, but if they are true to their word about putting the clubs best interests at heart then I’m sure there is a way.ZizkovClaret wrote: ↑Mon Feb 01, 2021 10:28 pmWhat though, is to stop ALK taking on further loans from MSD Holdings, or others, on some punitive interest rates to pay the necessary payments? Sadly i dont see it as the safety net some on here seem to be.
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Re: ALK Capital or Farnell/Elkashashy takeover
The tweet suggests that they either do not want to or cannot raise the extra from creditorsZizkovClaret wrote: ↑Mon Feb 01, 2021 10:28 pmWhat though, is to stop ALK taking on further loans from MSD Holdings, or others, on some punitive interest rates to pay the necessary payments? Sadly i dont see it as the safety net some on here seem to be.
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Re: ALK Capital or Farnell/Elkashashy takeover
To be fair to Pace I dont think we've ever had such an action packed transfer deadline day before.
I can just see Jim White heading over to Turf Moor at 11:55pm to see whether the receivers are going to get the admin deal over the line before the window shuts
I can just see Jim White heading over to Turf Moor at 11:55pm to see whether the receivers are going to get the admin deal over the line before the window shuts
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Re: ALK Capital or Farnell/Elkashashy takeover
Okay fair enough, point taken.Chester Perry wrote: ↑Mon Feb 01, 2021 10:31 pmWhen he has something to report he reports it, Matt Slater made his report was battered for it - Slater is another highly regarded journo - Panja;s tweet was a response to the rob harris one about his interview with Pace - Panja and Harris along with Martyn Ziegler are mates and have their own podcast on the business of sport and the major issues in sport.
your reaction is more about a fan being protective of his club and his 'own' I suggest - I posted it on the jordan north thread with a different kind of response
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Re: ALK Capital or Farnell/Elkashashy takeover
The club itself was the proof of funds, it has been run sensibly within it's revenues and had cash in the bank if that was necessary to stretch (not that I would advocate that) - all they had to do was say they were going to more or less align with that approach - which is what Alan Pace has said repeatedly in publicjedi_master wrote: ↑Mon Feb 01, 2021 10:32 pmI would be keen to get an understanding from the Premier League as to what ‘Proof of funds’ was provided by ALK Capital.
It does make the speculation from earlier that ALK were on the verge of buying a Serie A club all the more wild. If you can barely afford the club you’ve just ‘bought’, why are you buying another!
I’ll remain optimistic about the takeover and adopt a wait and see approach, but for sure there are a few warning signs, and I’m not really referring to the lack of business with that.
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Re: ALK Capital or Farnell/Elkashashy takeover
What is there to stop MSD converting part of their loans into equity ?Chester Perry wrote: ↑Mon Feb 01, 2021 10:33 pmThe tweet suggests that they either do not want to or cannot raise the extra from creditors
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Re: ALK Capital or Farnell/Elkashashy takeover
To think Blackburn claret got pelters for raising concerns.
I for one am not worried. But his concerns were well founded.
I for one am not worried. But his concerns were well founded.
Re: ALK Capital or Farnell/Elkashashy takeover
Lack of willingness, I expect.Nonayforever wrote: ↑Mon Feb 01, 2021 10:38 pmWhat is there to stop MSD converting part of their loans into equity ?
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Re: ALK Capital or Farnell/Elkashashy takeover
To be honest, the tweet doesn’t say much. Bit of a wimpish tweet. Name us if it’s Burnley you’re talking about. Reporter bottled it, possibly because he’s not sure if it’s true, or maybe because he knows Pace calls out BS.
But even if it’s true, does it tell us anything we don’t know? We knew there were additional payments due to MG/JB, didn’t we? Plus they’re trying to raise funds by offering equity... I.e. attracting new investors, not raising debt. Yes, at a higher rate than paid but again that’s normal for smaller holdings.
The worrying bit for me is “scrabbling around”. The rest doesn’t shock me, but I’d have expected them to have other investors lined up and ready to go. Not “scrabbling around”.
But even if it’s true, does it tell us anything we don’t know? We knew there were additional payments due to MG/JB, didn’t we? Plus they’re trying to raise funds by offering equity... I.e. attracting new investors, not raising debt. Yes, at a higher rate than paid but again that’s normal for smaller holdings.
The worrying bit for me is “scrabbling around”. The rest doesn’t shock me, but I’d have expected them to have other investors lined up and ready to go. Not “scrabbling around”.
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Re: ALK Capital or Farnell/Elkashashy takeover
So why do they lend money to companies to buy clubs instead of buying clubs themselves?Nonayforever wrote: ↑Mon Feb 01, 2021 10:43 pmQuite the opposite I would suggest. I believe that to be the long term aim of MSD with ourselves & others.
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Re: ALK Capital or Farnell/Elkashashy takeover
theoretically nothing, though given the level of their loans to other clubs in the country including £80m at Southampton, there would be issues about sphere of influence over competitors - That is not to say this kind of thing doesn't happen two recent cases are AC Milan and Lille in the former the creditors now run the club and are readying it for sale in the future, in the latter creditors forced a sale to a group (who already had a share in the club) they trusted more to manage appropriately and ensure their repaymentsNonayforever wrote: ↑Mon Feb 01, 2021 10:38 pmWhat is there to stop MSD converting part of their loans into equity ?
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Re: ALK Capital or Farnell/Elkashashy takeover
Think that may also prove difficult given their investments in other clubs.
It’s sometimes better to be a debt holder as you get secured income from the interest vs an unknown dividend from the equity. Often debt holders have a fair about of say in the running of the company though, even if technically they have no decision rights.
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Re: ALK Capital or Farnell/Elkashashy takeover
The level of urgency suggested is possibly the only surprising thing, but it may have something to do with the transfer window kickback from fans - if that is the case, then you have to say the comments on arrival about Sean being Happy come Feb is a bit naive if only for what most would translate that as being. As CT has said, Sean has got what he wanted with the extended contracts so he is happy/
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Re: ALK Capital or Farnell/Elkashashy takeover
Vegas Claret re your comment "some of the panic on here is impressive" is it directed wholly or partly at me. Let me tell you, I've been going on the Turf from 1953, missing only around 10 games inc all cup games, until lockdown. So the club has been my life. I think I've a right to comment about being worried for its future. Because if there was no BFC, my life would change and would have a big hole in it, as would a lot of other fans.
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Re: ALK Capital or Farnell/Elkashashy takeover
Rewind just a few days and the new directors that had been appointed were being lauded on here for their impressive set of credentials.
Now, it's all being made to look a bit dodgy.
Now, it's all being made to look a bit dodgy.
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Re: ALK Capital or Farnell/Elkashashy takeover
The fear of the unknown, Bfc. You aren’t on your own. Certainly with you on the last sentence and I’ve only been alive since 1990...and I’m not even from Burnley!
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Re: ALK Capital or Farnell/Elkashashy takeover
Why would the kickback cause them to scrabble tho?Chester Perry wrote: ↑Mon Feb 01, 2021 10:50 pmThe level of urgency suggested is possibly the only surprising thing, but it may have something to do with the transfer window kickback from fans - if that is the case, then you have to say the comments on arrival about Sean being Happy come Feb is a bit naive if only for what most would translate that as being. As CT has said, Sean has got what he wanted with the extended contracts so he is happy/
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Re: ALK Capital or Farnell/Elkashashy takeover
I thought that. You’d imagine they’d know the timetable for future instalments and that none would be due until at least summer. Either, there’s no “scrabbling around” and that’s being exaggerated completely to make a story out of nothing, or we were trying to raise funds earlier than expected to fund transfer business. I suppose the latter being equally worrying since we can’t be tapping investors every window.Chester Perry wrote: ↑Mon Feb 01, 2021 10:50 pmThe level of urgency suggested is possibly the only surprising thing, but it may have something to do with the transfer window kickback from fans - if that is the case, then you have to say the comments on arrival about Sean being Happy come Feb is a bit naive if only for what most would translate that as being. As CT has said, Sean has got what he wanted with the extended contracts so he is happy/
On balance, I think just a standard exercise to raise equity as planned being misreported... but I’d rather hoped such a public exercise would not be required and they had other influential investors lined up!
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Re: ALK Capital or Farnell/Elkashashy takeover
But if their long term aim is acquiring equity, as you suggested, I don't really understand why they're lending the money to investors instead of using it to invest themselves. Why not cut out the middle man?Nonayforever wrote: ↑Mon Feb 01, 2021 10:49 pmThey have someone else running the club on a daily basis with daily / weekly / monthly reports being transmitted back to a committee who decide the strategy.
Or is it to do with PL owners & directors test?
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Re: ALK Capital or Farnell/Elkashashy takeover
I can assure you it wasn't aimed at you in any way shape or form. I'm not sure I've even read one of your posts, I tend to read posts rather than picking the author. It was merely aimed at the general panic because some journalist has thrown out a half arsed tweet and nothing more. Of course you have a right to comment and have an opinion but so do I - I just don't see the need for people to panic at the sight of one tweet with zero credible information in itBfc wrote: ↑Mon Feb 01, 2021 10:51 pmVegas Claret re your comment "some of the panic on here is impressive" is it directed wholly or partly at me. Let me tell you, I've been going on the Turf from 1953, missing only around 10 games inc all cup games, until lockdown. So the club has been my life. I think I've a right to comment about being worried for its future. Because if there was no BFC, my life would change and would have a big hole in it, as would a lot of other fans.
Last edited by Vegas Claret on Mon Feb 01, 2021 11:46 pm, edited 2 times in total.
Re: ALK Capital or Farnell/Elkashashy takeover
As I’ve said elsewhere, I am not sure what the extension of a few contracts has to do with the window really. It seems spin to me that we are conflating this as “Dyche has got what he wanted in the window”, would we be saying this if they’d signed in Feb/March ..there would be no link.Chester Perry wrote: ↑Mon Feb 01, 2021 10:50 pmThe level of urgency suggested is possibly the only surprising thing, but it may have something to do with the transfer window kickback from fans - if that is the case, then you have to say the comments on arrival about Sean being Happy come Feb is a bit naive if only for what most would translate that as being. As CT has said, Sean has got what he wanted with the extended contracts so he is happy/
Last edited by Papabendi on Mon Feb 01, 2021 11:17 pm, edited 1 time in total.
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Re: ALK Capital or Farnell/Elkashashy takeover
I can think of no reason why the Dell family would fail the O & D test 0 they have shown no interest in owning a sports 'franchise' (americanism sorry) 0 in fact you would think the Premier League would welcome their presence, expertise, contacts and wealthTall Paul wrote: ↑Mon Feb 01, 2021 10:59 pmBut if their long term aim is acquiring equity, as you suggested, I don't really understand why they're lending the money to investors instead of using it to invest themselves. Why not cut out the middle man?
Or is it to do with PL owners & directors test?
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Re: ALK Capital or Farnell/Elkashashy takeover
more or less everything I have heard from Pace is spinPapabendi wrote: ↑Mon Feb 01, 2021 11:09 pmAs I’ve said elsewhere, I am not sure what the extension of a few contracts has to do with the window really. It seems spin to me that we are conflating those as “Dyche has got what he wanted in the window”, would we be saying this if they’d signed in Feb/March ..there would be no link.
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Re: ALK Capital or Farnell/Elkashashy takeover
Neither can I, so the question in my first paragraph remains.Chester Perry wrote: ↑Mon Feb 01, 2021 11:13 pmI can think of no reason why the Dell family would fail the O & D test 0 they have shown no interest in owning a sports 'franchise' (americanism sorry) 0 in fact you would think the Premier League would welcome their presence, expertise, contacts and wealth
Re: ALK Capital or Farnell/Elkashashy takeover
So Chester..cards on the table, are you happy this takeover happened or do you think we were better off on the previous trajectory?
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Re: ALK Capital or Farnell/Elkashashy takeover
Is spin another word For Bullsh!t.?Chester Perry wrote: ↑Mon Feb 01, 2021 11:14 pmmore or less everything I have heard from Pace is spin
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Re: ALK Capital or Farnell/Elkashashy takeover
I read it as in response to Pace's comments on agents and wanting to do things differently. Thinking he had a better way but not understanding that's how it works.Claretnick wrote: ↑Mon Feb 01, 2021 10:24 pmWell excuse me for thinking that the tone of his tweet sounded rather sarcastic. If he was so clever about this type of ownership why no alarm bells sounded by him?
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Re: ALK Capital or Farnell/Elkashashy takeover
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Re: ALK Capital or Farnell/Elkashashy takeover
Sounds like a Mr Trump deal! None of your own money required.
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Re: ALK Capital or Farnell/Elkashashy takeover
I remember being amused when the Venky's took over Rovers. At least they had the money to buy the club and have bankrolled it even after relegation. Dread to think what would happen to us if we get relegated.
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Re: ALK Capital or Farnell/Elkashashy takeover
changes date in mind to 30th
flip the images
hey presto !