[Archived] Rovers STILL not sold.

[Sparky Marky]

[Balwer]

If WGA press release is 100% factual and posters practical knowledge on here are accurate as to the time scale for due diligence on a company the size of our club, the only reason I can think of is that as some have alluded to we are unique in business terms of being owned by a trust

I doubt many legal/financial teams have come across this before, the terms of Jacks trust deed may well be causing a lot of head scratching.

We only have the word of a poster some time ago on here (rovercider) that there was nothing in the deed that is detrimental to a sale and a brief statement from JW some time ago, I believe.

Bear in mind WGA's own website says it normally takes them about six weeks to conduct DD, I wouldn't read too much into the fact that it didn't get done in four.

http://westerngulfadvisory.com/f-a-q.php

9. What is your due diligence process and what are your specific areas of examination?

As with any lending institution, WGA follows a standard due diligence process.

We require 6 weeks to achieve results, as most of the companies are located overseas.

We check for any record of personal defaults, corporate defaults, bankruptcy proceedings, administrative proceedings or any anti-social activity that the applicant may be involved with.

This assessment is a standard requirement of our corporate policy and its objective is to understand your position in order to serve you better.

[67splitscreen]

Bear in mind WGA's own website says it normally takes them about six weeks to conduct DD, I wouldn't read too much into the fact that it didn't get done in four.

True but most companies they perform due diligence on are almost in the hands of the banks or creditors.

Just seen your edit.

Hardly applicable in Rovers case, IMO. and doubt the Trust have any CCJ's hiding in a Jersey cupboard.

[Guest bluerovers]

Bear in mind WGA's own website says it normally takes them about six weeks to conduct DD, I wouldn't read too much into the fact that it didn't get done in four.

http://westerngulfadvisory.com/f-a-q.php

9. What is your due diligence process and what are your specific areas of examination?

As with any lending institution, WGA follows a standard due diligence process.

We require 6 weeks to achieve results, as most of the companies are located overseas.

We check for any record of personal defaults, corporate defaults, bankruptcy proceedings, administrative proceedings or any anti-social activity that the applicant may be involved with.

This assessment is a standard requirement of our corporate policy and its objective is to understand your position in order to serve you better.

But that's on companies Syed is investing in in order to make a profit from...not a "passion".

[bubblerrovers]

So basically what we've learned today is all the people on this board who claim to have a bit of inside knowledge know nothing more than any of us.

[den]

So basically what we've learned today is all the people on this board who claim to have a bit of inside knowledge know nothing more than any of us.

They knew that a second party had gone into due diligence.

[Brfcrule1]

Kamy please can you clear this statement for me

can 2 seperate parties enter into DD?.

Am I right in assuming there are several parts to DD the exclusivity means another party can not get to the level WGA are at?.

Can another party get to an early stage of DD? but not to the exclusivity stage?.

am I right in assuming all this?.

All this sounds very technical and goes way above my head probably like most of us but one glaring thing that needs clarifying the several stages of DD can 2 parties enter into DD & when do you think the club will come out make a statement as to what the truth is? Finally I am going on holiday to India in January is there any chance this matter will be resolved before then?. If it is do you think Syed would be happy to put me up for a few days?

[rebelmswar]

They knew that a second party had gone into due diligence.

Den, that is nowhere near enough - and you know it.

We need to know who the all the bidders are; where they are from; their tax records since the age of eighteen; who their wives, husbands, boyfriends, girlfriends, gimps, or such are; their favorite type of toothpaste; whether or not they shop at Sainsburys; if they have a “passion” for horticulture; which side they part their hair, if indeed they have hair; and a stool, urine, blood, and sperm/egg sample (delete as appropriate).

I can’t believe you cannot comprehend this. Kamy and you holding all of the answers close to your chest, and making other posters feel small, is bang out of order. We demand facts, and abject speculation, and we want them now.

Don’t make me burn my computer, phone, and house down in protest. My wife, dog, and two cats (sadly the kids are at school) are held at gunpoint, you have 10 minutes to comply, or I will get all ED209 in this b1tch.

[ada2020]

Den, that is nowhere near enough - and you know it.

We need to know who the all the bidders are; where they are from; their tax records since the age of eighteen; who their wives, husbands, boyfriends, girlfriends, gimps, or such are; their favorite type of toothpaste; whether or not they shop at Sainsburys; if they have a “passion” for horticulture; which side they part their hair, if indeed they have hair; and a stool, urine, blood, and sperm/egg sample (delete as appropriate).

I can’t believe you cannot comprehend this. Kamy and you holding all of the answers close to your chest, and making other posters feel small, is bang out of order. We demand facts, and abject speculation, and we want them now.

Don’t make me burn my computer, phone, and house down in protest. My wife, dog, and two cats (sadly the kids are at school) are held at gunpoint, you have 10 minutes to comply, or I will get all ED209 in this b1tch.

Err, you forgot a full google history and most importantly a wiki page.

[S15]

Back to boredom and repetitiveness then by the looks of things. Roll on two weeks or so I guess.

[rebelmswar]

Err, you forgot a full google history and most importantly a wiki page.

Yes, that too. I will restart the timer.

Back to boredom and repetitiveness then by the looks of things. Roll on two weeks or so I guess.

You make me glad I am alive.

[T4E]

Updated

Love it - but please correct the spelling of "mystery" for the next update. Its bugging me.

[Doaksie]

I have it from INSIDE knowledge that the Australian consortium each rotate green and gold pants alternatively. They split the 6 days from Monday through to Saturday, and each Sunday is decided by a round robin game of cricket whereby each player faces 5 overs to see who can score the most runs. To the victor - the gold pair.

Just a rumour mind...

[blue/white]

Could be the next phone call...the previous 150-odd have not revealed his/her/their identity as yet, mind.

Sounds like my job search over here at the land of opportunity!

[Guest bluerovers]

[blue/white]

Bit of info on Anil Ambani

Surely we could just mention to Anil that his brother Mukesh wants to buy Blackburn Rovers and invest a billion every 5 years and also suggest that Mukesh has been openly saying that Anil would never be so brave and invest in a football team because he doesn't have the gonads like himself.

Hopefully that will then make Anil respond with....ACTUALLY brother, I do have the gonads. Blackburn - here is 1.5 billion and I am now your new owner. Expect another 1.5 billion in 5 years time. HA! Mukesh. I am the best brother.

Tim... you've been watching weayyyy too many Kong Fu movies, man

[blue/white]

Paul Plunkett has it 100% correct, there are different levels of DD/Exclusivity, it is complicated, but basically If WGA statement is true then it does not mean that other bidders can't enter into DD, just means they can't reach to the level of DD/Exclusivity that WGA have reached. I hope that this makes some semblance of sense.

Hopefully the club will release a statement to clarify the situation.

Question is: doesn't this 'renewed' exclusivity period hamstring Rovers' trust from adddressing other interested parties? I'm a bit thick ---but with this new period isn't WGA basically shutting Rovers off from seeking options? if so, it simply delays any takeover from ocurring. no? (if Ali doesn't cut it, that is.)

[philipl]

Some seriously peculiar comments on here.

An ex-journo complaining that the world keeps changing whilst only a small minority of posters is seemingly getting excited that it now looks like a three way scrap for buying dear old Rovers. The Trustees and their advisers need to be smart but the Rovers are the likely beneficiaries of what is happening now.

It appears that when it comes to football, many people like things to stay simplistic and get confused when real life intrudes. I have been saying this sale is now complicated and fast moving all week.

I don't have Ali Syed at odds on any longer. He is playing hard ball in the hope others aren't willing to play even harder- that could be a tactical blunder.

[m1st]

I'd just like to say that my head's hurting.

I've just got in and read through the 8 pages or so of posts since I last looked at this thread and, yes, it's definitely hurting!

[HemelRover]

Kamy please can you clear this statement for me

can 2 seperate parties enter into DD?.

Am I right in assuming there are several parts to DD the exclusivity means another party can not get to the level WGA are at?.

Can another party get to an early stage of DD? but not to the exclusivity stage?.

am I right in assuming all this?.

All this sounds very technical and goes way above my head probably like most of us but one glaring thing that needs clarifying the several stages of DD can 2 parties enter into DD & when do you think the club will come out make a statement as to what the truth is? Finally I am going on holiday to India in January is there any chance this matter will be resolved before then?. If it is do you think Syed would be happy to put me up for a few days?

Dude, try reading Kamy's post on the previous page. It answers your questions.

Edit. In fact. If that too tricky. Here it is....

Posted Today, 04:49 PM

Paul Plunkett has it 100% correct, there are different levels of DD/Exclusivity, it is complicated, but basically If WGA statement is true then it does not mean that other bidders can't enter into DD, just means they can't reach to the level of DD/Exclusivity that WGA have reached. I hope that this makes some semblance of sense.

[jny]

Not that it has much to do with this thread but I like the fact that Bluerovers has put Josef Fritzl under Australians!

[bubblerrovers]

They knew that a second party had gone into due diligence.

From the press release by sayid's camp they've extended the period of exclusivity so how can another group enter due diligence?

[den]

From the press release by sayid's camp they've extended the period of exclusivity so how can another group enter due diligence?

Look back 2 posts.

[Guest bluerovers]

Not that it has much to do with this thread but I like the fact that Bluerovers has put Josef Fritzl under Australians!

It's a joke...

[OscarRaven]

From the press release by sayid's camp they've extended the period of exclusivity so how can another group enter due diligence?

Think of due diligence as a spectrum, starting with a simple buyers questionaire at one end and the intimate details of Chris Samba contract and his recent expense claims at the other extreme.

Exclusivity probably relates to the more detailed end of the spectrum. Also what 'exclusivity' is hasn't specifically being defined and doesn't appear to be in the public domain. That will be whats in the old 'MoU'.

We now know there is a fee involved in DD at some point I would suggest this triggers when the Rovers Directors (and more specifically the lawyers) have to start doing some work.