Bits & Bobs - Page 46

Twenty Eight · 01-07-2020, 20:26

Quote:

Originally Posted by andyd

Are they devious though only just taken over must have past the fit and proper test for what it's worth, they are a Honk Kong investment company specialising in hotel and casino ownership which both will have been hit hard as well as their newly acquired football club. As I posted earlier at the beginning of this pandemic all or most owners are business men and not only their club but the various business,s will be affected, some may have prospered others could be struggling.

I am told no they haven't passed the fit and proper test. If you take a look at Charlton there the last two owners haven't passed either.
No idea why.

andyd · 01-07-2020, 21:14

Quote:

Originally Posted by Twenty Eight

I am told no they haven't passed the fit and proper test. If you take a look at Charlton there the last two owners haven't passed either.
No idea why.

I could post the answer but would be barred for life.

monkey hanger · 02-07-2020, 07:53

Quote:

Originally Posted by Twenty Eight

I am told no they haven't passed the fit and proper test. If you take a look at Charlton there the last two owners haven't passed either.
No idea why.

looking at the ones that have passed the test anyone who cannot must be really dodgy con men who would make our old friend arfur daley the car salesman of the year.

monkey hanger · 02-07-2020, 07:56

[QUOTE=andyd;1241616]Are they devious though only just taken over must have past the fit and proper test for what it's worth, they are a Honk Kong investment company specialising in hotel and casino ownership which both will have been hit hard as well as their newly acquired football club.

would anyone actually want their club run and owned by people like that. no matter what money they say they have, what they are going to do i,d take it all with as many bags of Saxa i could carry.

NORTHERNSOUL · 02-07-2020, 16:09

Apparently its a bit like the situation that Morecambe found themselves in a couple of years back.

Old owners were desperate to sell, Prospective new owners come along, do a deal to buy the club paying in installments, in the light of no other offers old company accept, the new company announced as owners, they then look at the books and decide they want out, and cancel further payments to old owners and stop funding the club.

The old company could have come back it and taken control again but instead chose to cut their losses and put it into administration.

And yes it is correct the company that were supposed to be buying it had not passed either the old fit and proper person test or the new version either.

monkey hanger · 03-07-2020, 07:31

Quote:

Originally Posted by NORTHERNSOUL

And yes it is correct the company that were supposed to be buying it had not passed either the old fit and proper person test or the new version either.

well they might just as well scrap the thing if they cannot or will not inforce the test. who runs the test, the UK boarder force.

Lost in Cornwall · 03-07-2020, 08:19

The same bloke seems to have owned both companies but passed control of the new one over to somebody else pretty much immediately after the deal had gone through. This apparently triggered repayments on what had been an interest free loan of £37000 a week. Also the sale price was £17.5m plus a repayment of money put into the club of £24m. Who would effectively throw that sort of money away after a week? There is some very murky financial stuff going on here.

NORTHERNSOUL · 03-07-2020, 20:08

Quote:

Originally Posted by monkey hanger

well they might just as well scrap the thing if they cannot or will not inforce the test. who runs the test, the UK boarder force.

The easy answer is that a club is not allowed to play games without an owner who has passed the test in advance That way potential new owners would have to put themselves forward at the start of the process and not after it has completed.

Although i doubt i would have helped in this case as its looking more and more likely that this was some sort of financial setup.

A quick to implement solution would be that a new owner has to personally buy a license from the FL for say £5 million which they then in effect lend him the money to do. If alls well when he comes to sell the club and he's paid off his loan they give him his money back if he hasn't made the payments he in effect owes a debt to the FL of money they never actually laid out in the first place, a debt which they could then sell on giving them a profit on the deal.

The beauty of this is how many of these shysters would actually pass the credit checks to borrow 5 million at which point the bells would surely start ringing you would think.

monkey hanger · 04-07-2020, 07:52

funny thing is these types of situations never seem to have come up years ago even though not all owners were good or wealthy ones either. its the ever increasing foriegn ownership of clubs that seem to have kicked things off. just cannot see why anyone from thousands of miles away can have an interest in clubs with household names like wigan, morecambe etc. if there is nothing in it for them in the first place.

AccyMad · 04-07-2020, 08:05

Got to say well done to Wycombe last night, so much for those who thought they shouldn't be in the play-offs - here's hoping more of the same on Monday night will see Joey's team of thugs get exactly what they deserve, a big fat nothing

andyd · 04-07-2020, 08:15

Quote:

Originally Posted by monkey hanger

funny thing is these types of situations never seem to have come up years ago even though not all owners were good or wealthy ones either. its the ever increasing foriegn ownership of clubs that seem to have kicked things off. just cannot see why anyone from thousands of miles away can have an interest in clubs with household names like wigan, morecambe etc. if there is nothing in it for them in the first place.

The interest is the lucrative TV deals or maybe a money laundering scheme for whatever murky business they operate, football is tainted.

pifco · 04-07-2020, 11:00

just been looking at a still photo of Coyle's tackle that got him the red card and it looks pretty horrific, goodness knows what it looked like to see it live, so good luck to Wycombe and hope they repeat the victory in the return and show Barton that dirty play doesn't always come out on top.