Mandaric departure imminent?

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Twitter entry from the guy who does the "Praise or Grumble" Radio Sheffield show(Sheffield's version of the Moan In)
Ok here is the definitive version as I understand it. Offers sent to loan note holders, these are complex legal docs that need to be signed and returned...I understand the content of these papers is agreeable to most of loan holders. The deal with bank is agreed! If all papers come back signed by Monday afternoon, the club will then have to call egm. The shareholders must be given 16 days notice of egm. So likely date for that is dec 14th. At that egm mm must receive over 50% majority to allow the plc and football club to split and allow mm to take sole control of football club, that leaves 1000's of shareholders in empty plc company so those shares would be worthless.
If this happens then mm will pay the £1 million due to tax man on 15th dec!

In the short term the club need to get agreements back, then get assurances from shareholders like wednesdayite that they will support takeover at egm, send out notification of egm to shareholders. Then Milan will pay 300k due to tax man on Wednesday as act of good faith! Then egm to vote for takeover, then takeover completes and mm pays remaining debts to hmrc.

Long I know, but hopefully clears it up.

Seth
Click to expand...
 
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To me, this takeover confirms that Mandy didn't in fact lose on the deal to sell us as he has repeatedly claimed.

It suggests that his method of buying desperate, cheap clubs works. He loads them up with debt owed to him and then gets Zahavi to find a rich investor somewhere to pay him off with plenty of interest.

He's done it twice now and Sheff Wed is clearly his next project. Who said people couldn't make money out of football?

The three problems I have with his way of doing business are:

1. He lies constantly about what he's doing and why he's doing it.
2. He sells on to people based on what they pay him, not what they will do with the club they inherit. This is clear from Pompey and who knows what we've got in store.
3. He's actually very bad at running a football club.

I've been hugely critical of Mandy since before he even took over. I've never liked him or his methods. I'm thankful that he will be gone from the club in a matter of days now. However, the man isn't daft. To make money from football in this day and age takes ruthless skill and he's done it again. Fair play to that.
 
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Brown Nose said:
[Mandaric] sells on to people based on what they pay him, not what they will do with the club they inherit. This is clear from Pompey and who knows what we've got in store.
Click to expand...


Erelong this penny will start to drop for others too.
 
Motown Fox said:
Twitter entry from the guy who does the "Praise or Grumble" Radio Sheffield show(Sheffield's version of the Moan In)
Click to expand...


Ok here is the definitive version as I understand it. Offers sent to loan note holders, these are complex legal docs that need to be signed and returned...I understand the content of these papers is agreeable to most of loan holders. The deal with bank is agreed! If all papers come back signed by Monday afternoon, the club will then have to call egm. The shareholders must be given 16 days notice of egm. So likely date for that is dec 14th. At that egm mm must receive over 50% majority to allow the plc and football club to split and allow mm to take sole control of football club, that leaves 1000's of shareholders in empty plc company so those shares would be worthless
If this happens then mm will pay the £1 million due to tax man on 15th dec!

In the short term the club need to get agreements back, then get assurances from shareholders like wednesdayite that they will support takeover at egm, send out notification of egm to shareholders. Then Milan will pay 300k due to tax man on Wednesday as act of good faith! Then egm to vote for takeover, then takeover completes and mm pays remaining debts to hmrc.

Long I know, but hopefully clears it up.

Seth.
Click to expand...

Just got to add the bit where MM then drags his heels/dis-appears for a period to ensure the January transfer window is closed before the deal is finalised..not that he would have done that before :018:
 
Isopen said:
Just got to add the bit where MM then drags his heels/dis-appears for a period to ensure the January transfer window is closed before the deal is finalised...
Click to expand...

And then roll up with a heap of shite unasked-for players on loan...
 
Brown Nose said:
To me, this takeover confirms that Mandy didn't in fact lose on the deal to sell us as he has repeatedly claimed.

It suggests that his method of buying desperate, cheap clubs works. He loads them up with debt owed to him and then gets Zahavi to find a rich investor somewhere to pay him off with plenty of interest.

He's done it twice now and Sheff Wed is clearly his next project. Who said people couldn't make money out of football?

The three problems I have with his way of doing business are:

1. He lies constantly about what he's doing and why he's doing it.
2. He sells on to people based on what they pay him, not what they will do with the club they inherit. This is clear from Pompey and who knows what we've got in store.
3. He's actually very bad at running a football club.

I've been hugely critical of Mandy since before he even took over. I've never liked him or his methods. I'm thankful that he will be gone from the club in a matter of days now. However, the man isn't daft. To make money from football in this day and age takes ruthless skill and he's done it again. Fair play to that.
Click to expand...

I totally agree with everything in this post.
 
SilverFox said:
No way. We shouldn't even ask questions about who owns the club. We should just accept everything, pay our money, and keep quiet like good little sheep.
Click to expand...

Knowing who owns the club is a million miles from being able to stop the owner destroying the club.
 
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