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If we are to believe what we hear Mittals bid £65m for Bernie and Flvaios 67% ownership in the club. The asking price is £100m. However, the price cannot be for the shares alone, as it would price the entire club at £150m, which us unrealistic. I therefore think the price expectation of B&F is for the shares plus full repayment of the debt owed to them. I think the total debt of the club is around £50-55m by now. Out if this I suppose Mittal & Amit count for around £10-15m, so B&F are owed around £40m. This makes me believe the asking price for the shares is £60m, which might not be completely unrealistic to be honest, but on the high side.
I think B&F and Mittals are struggling to bridge this wide gap of £35m right now, one way or another. I think it is about finding a ladder for both to step down without losing face. I think B&F's strategy about selling Taarabt without freeing up any money for new player acquisitions is part of his. A sale would generate about £10m for the club (as Spurs are entitled to 40% I understand). If this amount is going as a direct downpayment on the debt of B&F this would reduce the debt and the overall asking price to £90m. I hope this makes it easier for the two parties to find some middle ground around £75- 80m.
However, B&F are running a high risk strategy. If they don't spend any of the Taarabt money, and a deal is not forthcoming, they will see the transfer window being shut without a proper replacement for our most influential player. Even though we might bring in a few good players in Campbell, Naughton and another two or three I think B&F understand that it is a serious risk that their values are being deteriorated if we struggle big time in the Premier League.
I admit I am slightly worried by the signal that the Taarabt money won't be spent and that the transfer budget is limited to £1.25m for Campbell. On the other hand it might signal that a deal will really happen, as the consequences for B&F might be really dire if there is no transaction. With one party so keen to buy and another so desperate to sell I would be very surprised not to see the deal going through in the next few weeks.
I think B&F and Mittals are struggling to bridge this wide gap of £35m right now, one way or another. I think it is about finding a ladder for both to step down without losing face. I think B&F's strategy about selling Taarabt without freeing up any money for new player acquisitions is part of his. A sale would generate about £10m for the club (as Spurs are entitled to 40% I understand). If this amount is going as a direct downpayment on the debt of B&F this would reduce the debt and the overall asking price to £90m. I hope this makes it easier for the two parties to find some middle ground around £75- 80m.
However, B&F are running a high risk strategy. If they don't spend any of the Taarabt money, and a deal is not forthcoming, they will see the transfer window being shut without a proper replacement for our most influential player. Even though we might bring in a few good players in Campbell, Naughton and another two or three I think B&F understand that it is a serious risk that their values are being deteriorated if we struggle big time in the Premier League.
I admit I am slightly worried by the signal that the Taarabt money won't be spent and that the transfer budget is limited to £1.25m for Campbell. On the other hand it might signal that a deal will really happen, as the consequences for B&F might be really dire if there is no transaction. With one party so keen to buy and another so desperate to sell I would be very surprised not to see the deal going through in the next few weeks.
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