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I don't know anything about a possible takeover, as I am not an ITK, but I find todays rumour of a takeover by Mittal and Mordashov (Russian steel billionaire) plausible.
We know (if we believe various articles):
1. Bernie and Flavio are keen to sell and have hired a financial advisor and set a price
2. Mittal is very keen to buy and have tabled two bids so far, which are rejected
3. There is some distance between the bid and the asking price, believed to be £35m
In order to bridge this gap the buying and selling sides are doing as best as they can. It is plausible that:
- Mittal is searching for a new co owner to share the investment with, and have identified Mordashov, another steel magnat and friend of Mittal, of whom he shares ownership interest in some steel companies. Mordashov is known to be very interested in sport.
- As the buyers are expected to buy out the debt of Bernie and Flavio in addition to buying the 67% stake in the club, the size of the debt is therefore crucial, and any increase in debt might make a transaction harder (and any reduction will make it easier). The fact that B&F are therefore seemingly unwilling to come up with any major funds for new players, even if selling Taarabt, adds to this impression.
It might be clutching a straw, but I find it quite likely that the rumours about an imminent takeover are true. I have been of this impression a long time (a takeover, not neccessary imminent), but have always expected it to take some time, as deals like this almost always do. The complete lack of investments in new players, the lack of a kit sponsor, no announcement of walk-up-prices and the fact that Warnocks seems pretty happy despite seemingly not having a penny to spend three weeks before the season starts add to the likeliness that something is cooking.
However, the strogest evidence is the fact if there were no perspective for a takeover before the transfer window shuts, Bernie & Flavio would run a big risk by not investing in the squad, as it would most likely mean relegation, which is detrimental to their values and chances of getting a good price for the shares and the loans repaid. Bernie is bloody smart, even though some people here thinks the opposite, and if there were no perspective for a deal to be made before the transfer window shuts he wouldn't run such a risk.
I am therefore pretty sure the talks are at an advance stage. The closer we get to the time when it becomes crucial to get new players on board (=mid August), the more willing the respective parties would be to compromise. My guts tell me that there will a deal within a few weeks! You might tell me I am naive, and it might be true, but it is my best assessment of the situation.
We know (if we believe various articles):
1. Bernie and Flavio are keen to sell and have hired a financial advisor and set a price
2. Mittal is very keen to buy and have tabled two bids so far, which are rejected
3. There is some distance between the bid and the asking price, believed to be £35m
In order to bridge this gap the buying and selling sides are doing as best as they can. It is plausible that:
- Mittal is searching for a new co owner to share the investment with, and have identified Mordashov, another steel magnat and friend of Mittal, of whom he shares ownership interest in some steel companies. Mordashov is known to be very interested in sport.
- As the buyers are expected to buy out the debt of Bernie and Flavio in addition to buying the 67% stake in the club, the size of the debt is therefore crucial, and any increase in debt might make a transaction harder (and any reduction will make it easier). The fact that B&F are therefore seemingly unwilling to come up with any major funds for new players, even if selling Taarabt, adds to this impression.
It might be clutching a straw, but I find it quite likely that the rumours about an imminent takeover are true. I have been of this impression a long time (a takeover, not neccessary imminent), but have always expected it to take some time, as deals like this almost always do. The complete lack of investments in new players, the lack of a kit sponsor, no announcement of walk-up-prices and the fact that Warnocks seems pretty happy despite seemingly not having a penny to spend three weeks before the season starts add to the likeliness that something is cooking.
However, the strogest evidence is the fact if there were no perspective for a takeover before the transfer window shuts, Bernie & Flavio would run a big risk by not investing in the squad, as it would most likely mean relegation, which is detrimental to their values and chances of getting a good price for the shares and the loans repaid. Bernie is bloody smart, even though some people here thinks the opposite, and if there were no perspective for a deal to be made before the transfer window shuts he wouldn't run such a risk.
I am therefore pretty sure the talks are at an advance stage. The closer we get to the time when it becomes crucial to get new players on board (=mid August), the more willing the respective parties would be to compromise. My guts tell me that there will a deal within a few weeks! You might tell me I am naive, and it might be true, but it is my best assessment of the situation.
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