Time for a takeover

[jacketspuds]

13 minutes ago, TheEgo said:

What's the chances of having two multi billionaires owning us that BOTH have a lazy right eye?!  

The video was fine, you can see they were asked to put 'something' out and as a result we got a awkward (ish) generic (albeit it nice) quick video. I'm sure we will hear a lot more about their vision after they have undertaken a full review and had more than a few days to buy the club and get the keys, so to speak. 

Keeping Bruce wouldn't have been my preferred choice, but I totally get it (I'm afraid to go in the Bruce thread) On balance it's a sensible and pragmatic approach (a novelty when it comes to Villa owners) He will be on a very short leash though. I suspect they might want their own man anyway, so it's a win win. if he fails, they've had time to properly scout a replacement and if he succeeds, great!! 

I like these two, they feel like 'real' owners and only REALLY rich people wear a suit like Wes Edens haha!! 

Bit harsh.

[TheEgo]

49 minutes ago, jacketspuds said:

Bit harsh.

hahaha!! Well spotted (ooops) You have a keen eye 

[Dodgyknees]

I also have a lazy right eye. Am I the owner!?

Just read through the 'going under' thread, as I was away for work/holiday when it all kicked off. Scary as hell, hoping for a better future.

[Rob182]

On 25/07/2018 at 15:06, TheStagMan said:

But more interestingly, there is one called "1874 Developments Ltd" which has a charge registered against it for a lot of land near the stadium (Tame Road), which was a loan taken out 6th July. Sawiris is not a director on this one, just Xia.........  although it is owned and controlled by Recon Group Ltd, which SawIris is a director of. 

Wonder what is going on there, is Tony trying to hold on to some property, or is this a company where the filings have not been processed yet (seems odd if so), although some transaction documents have been filed and are pending so be interesting to see what they are. 

Come on in, take a seat. Care for a biscuit?

Now, let me tell you all about a fella called Rory Delap..

[Rob182]

On 25/07/2018 at 13:38, Fowlersrs said:

We will trade as Recon sports until sawiris is in control and renames us.. I'm guessing that won't happen until due diligence is complete.

Just a word on the takeover, if/when it happens.

I don't think the fit and proper persons test will have been done just yet, but I wanted to throw something out there for anyone that cares.

I work in a field (no, not a real field, smart arses) where I have to review businesses and their ownership structures, and probably complete a lot of the same checks that the 'fit and proper persons test' completes (or what you'd assume they'd complete, if they weren't such jobsworths at the EFL), and there are certain rules around businesses that will have gone through fairly rigorous checks previously (for example, a Public Limited Company has to go through a number of checks to be placed on the New York Stock Exchange or the London Stock Exchange, so the checks that need completing on said company become reduced).

I think we'll see a similar thing happening with Edens. I've read that American sports franchises have fairly strict checks for any new owners or co-owners, so Edens will likely have been reviewed to a high level already, and I believe that the EFL will take this into consideration when having to review him, meaning that he could pass the tests in double-time (if/when him becomes an actual co-owner).  Sawiris will have the full checks, I'd assume, but his worth and businesses expertise seems to be out in the open for all to see, so also shouldn't be a problem.

Unless I'm talking out of my arse and they've already gone through the EFL tests to become investors, in which case I'll hop back into my field with daisy.

[TheEgo]

2 minutes ago, Rob182 said:

Just a word on the takeover, if/when it happens.

I don't think the fit and proper persons test will have been done just yet, but I wanted to throw something out there for anyone that cares.

I work in a field (no, not a real field, smart arses) where I have to review businesses and their ownership structures, and probably complete a lot of the same checks that the 'fit and proper persons test' completes (or what you'd assume they'd complete, if they weren't such jobsworths at the EFL), and there are certain rules around businesses that will have gone through fairly rigorous checks previously (for example, a Public Limited Company has to go through a number of checks to be placed on the New York Stock Exchange or the London Stock Exchange, so the checks that need completing on said company become reduced).

I think we'll see a similar thing happening with Edens. I've read that American sports franchises have fairly strict checks for any new owners or co-owners, so Edens will likely have been reviewed to a high level already, and I believe that the EFL will take this into consideration when having to review him, meaning that he could pass the tests in double-time (if/when him becomes an actual co-owner).  Sawiris will have the full checks, I'd assume, but his worth and businesses expertise seems to be out in the open for all to see, so also shouldn't be a problem.

Unless I'm talking out of my arse and they've already gone through the EFL tests to become investors, in which case I'll hop back into my field with daisy.

All good points Rob, I'm certain their tests will be very straight forward, there is immediately a lot of verifiable public information, so privately submitted evidence will be in abundance and as you say they will have also being rigorously audited/checked for their other roles. Nassef at Adidas for instance. Nothing to worry about with these guys credentials. All about their decisions now.

[PieFacE]

If Xia can get approved I think anyone can really. 

[Rob182]

3 minutes ago, TheEgo said:

All about their decisions now.

They've passed the first test, in my opinion.

Although I'd rather we move away from Bruce and bring in someone else, replacing him with Henry was the wrong decision, and after the initial excitement of an unknown quantity, I'm sure many people agree that keeping Bruce (instead of getting Henry) is the right thing to do.

The new guys now need to get their feet under the table, bring in some brains around them (CEO/ advisors/ or just 'football men') and then start making the decisions that take us forward.

If I was them, I'd be getting right on the phone to Jorge Mendes. What we need this season is a few £10m-£15m players that we can bring in on loan, but only pay them £20k p/w. 

[TheEgo]

8 minutes ago, Rob182 said:

They've passed the first test, in my opinion.

Although I'd rather we move away from Bruce and bring in someone else, replacing him with Henry was the wrong decision, and after the initial excitement of an unknown quantity, I'm sure many people agree that keeping Bruce (instead of getting Henry) is the right thing to do.

The new guys now need to get their feet under the table, bring in some brains around them (CEO/ advisors/ or just 'football men') and then start making the decisions that take us forward.

If I was them, I'd be getting right on the phone to Jorge Mendes. What we need this season is a few £10m-£15m players that we can bring in on loan, but only pay them £20k p/w. 

Don't we just, if only!! 

As for getting some brains around them, they appear to have quite the entourage, so I'm sure some names will come to the forefront. I know a guy who is acting on their behalf, but I don't know if he's just a rep or if he will have more involement. He's called Mr Brill awesome name haha!!

[Talldarkandransome]

22 minutes ago, TheEgo said:

Don't we just, if only!! 

As for getting some brains around them, they appear to have quite the entourage, so I'm sure some names will come to the forefront. I know a guy who is acting on their behalf, but I don't know if he's just a rep or if he will have more involement. He's called Mr Brill awesome name haha!!

Wasn't the guy in Enemy of the State called Brill

[ferguson1]

1 hour ago, Talldarkandransome said:

Wasn't the guy in Enemy of the State called Brill

He was, but I really hope that we're not tracking Bruce!  Imagine him getting paranoid and then running through Aston with just his kegs on!!   Not pleasant.   

[sne]

Really hope the new owners bring in someone to oversee the transfer strategy because under Xia it was a disaster.

After spending £88m or something like that, not counting wages (or whatever we recuperated from sales mostly from players who were already here) of money we didn't really have we now have a squad of 25 or so players (not counting McCormack, Tshibola or Micah)

It contains 2 keepers neither on whom played last season, 4 RB's (+Micah) 1 LB and 2 CB's

A £40m striker force we hardly utilize.

Almost 10 academy players 

13 players 29 or older.

And if the figures are to be believed many of those brought in are on astronomical wages for a Championship club.

It's just a clusterf**k of bad decisions made by the previous regime. 

 

[Rob182]

You can add ‘only one senior winger’ and three players who’s best position is defensive midfield, to that list too. (And that’s excluding Tshibola!)

I’m sure if Steve Round was still here, we’d be seeking out a 4th and 5th defensive midfielder that is over 29 years old.

[DaveAV1]

30 minutes ago, Rob182 said:

You can add ‘only one senior winger’ and three players who’s best position is defensive midfield, to that list too. (And that’s excluding Tshibola!)

I’m sure if Steve Round was still here, we’d be seeking out a 4th and 5th defensive midfielder that is over 29 years old.

Right backs, more right backs, don’t forget the right backs!

[sidcow]

48 minutes ago, Rob182 said:

You can add ‘only one senior winger’ and three players who’s best position is defensive midfield, to that list too. (And that’s excluding Tshibola!)

I’m sure if Steve Round was still here, we’d be seeking out a 4th and 5th defensive midfielder that is over 29 years old.

Steve Round has had a remarkably easy ride on here. Some poor signings but more importantly the wages and fees paid for most players in his reign are diabolical, a real horror show. 

[Lerner's Driver]

Apologies, I don't have a subscription to show the full content, but just seen the opening paragraph of a Times article that says we still have cash flow problems despite the investment because we've already spent the new season's gate receipts (not even sure how that's possible) and the last of the parachute money. They quote a source close to the finances of the takeover...https://www.thetimes.co.uk/edition/sport/villa-have-already-spent-most-of-income-for-new-season-5r9kbrnf2

Quote

Aston Villa are still facing short-term cashflow problems despite last week’s takeover by Nassef Sawiris and Wes Edens because much of next season’s income has already been spent.

A source who vetted Villa’s finances during the takeover process has told The Times that the money generated by season-ticket sales and a significant proportion of the club’s Premier League parachute money has been used this summer to clear existing debts.

Villa missed a £4 million payment due to HMRC in May and were also struggling to make payments due to other creditors before Sawiris and Edens provided some hope by taking majority control of the club last week.

The billionaire businessmen have paid Tony Xia £30 million for a 55 per cent stake in Villa and are promising further investment, which will be required imminently as much of their existing revenue has already been accounted for.

Sawiris and Edens spoke in reverential terms about Villa’s history and fanbase when talking to internal club media for the first time yesterday, but they have yet to provide any detail about their plans and the extent of any subsequent investment. Villa need an injection of £75 million to get through the season and face bills of £9 million for this month alone to meet their wage bill, tax commitments and money owed to other clubs for transfer fees.

 

[blandy]

3 minutes ago, Lerner's Driver said:

Apologies, I don't have a subscription to show the full content, but just seen the opening paragraph of a Times article that says we still have cash flow problems despite the investment because we've already spent the new season's gate receipts (not even sure how that's possible) and the last of the parachute money. They quote a source close to the finances of the takeover...https://www.thetimes.co.uk/edition/sport/villa-have-already-spent-most-of-income-for-new-season-5r9kbrnf2

Not read the story, but it would seem to be true, logically. I mean if the club had a big pile of season ticket money and parachute money, they wouldn’t have missed tax payments etc.

[Lerner's Driver]

14 minutes ago, blandy said:

Not read the story, but it would seem to be true, logically. I mean if the club had a big pile of season ticket money and parachute money, they wouldn’t have missed tax payments etc.

Indeed, but it's hard to keep up. Some online posters were saying things like, "so, now the money worries have been dealt with, who are we signing". Plus we have just signed a keeper, albeit on loan and Chester apparently staying. Who or what to believe?

Edited July 27, 2018 by Lerner's Driver

[villan-scott]

17 minutes ago, Lerner's Driver said:

Indeed, but it's hard to keep up. Some online posters were saying things like, "so, now the money worries have been dealt with, who are we signing". Plus we have just signed a keeper, albeit on loan and Chester apparently staying. Who or what to believe?

I would imagine it’s all under control. The carnage that Xia created isn’t going to disappear overnight - despite us all wanting it to! 

The benefit we now have is that we can exist as a proper club again, rather than looking over our shoulder for the tax man. 

[Jareth]

1 hour ago, Lerner's Driver said:

Apologies, I don't have a subscription to show the full content, but just seen the opening paragraph of a Times article that says we still have cash flow problems despite the investment because we've already spent the new season's gate receipts (not even sure how that's possible) and the last of the parachute money. They quote a source close to the finances of the takeover...https://www.thetimes.co.uk/edition/sport/villa-have-already-spent-most-of-income-for-new-season-5r9kbrnf2

They're probably right, but the story carries absolutely no jeopardy - we need a £75mill injection - not debt - but cash flow - we have new owners worth billions. It's the same as saying we all have council tax to pay.