| Another Interested Party.. 08:26 - Mar 8 with 18359 views | dale1968 |
Simon Guage has just been on BBC Radio Manchester indicating another intersted party has now also issued a letter of intent and it will be announced later. |  |
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| Another Interested Party.. on 09:56 - Mar 8 with 10875 views | IOMDale |
I must stress that this is on very initial impressions but I like the look of this second party more than the first. Both partners have clear reasons for getting involved but most of all, the issuance of a Goldern Share is paramount. |  | | |
| Another Interested Party.. on 09:58 - Mar 8 with 10842 views | DaleiLama |
The first question that springs to mind is why this local lad with an interest in Dale has only just come forward. One could speculate that the sales price is the answer, but let's gloss over that for now.
The thing that I've been wondering about is how do you evaluate two deals in parallel. The club has now been valued absolutely as 9m x A share price. So all deals are the same if you acquire those 9m A shares. The only thing which would differentiate them is "extras". So each bid has until end of March (if SG is to be believed) to pitch the "extras" and presumably to formalise them in contracts, otherwise they are worth the square root of FA. But this process was designed to get a deal over the line quickly by selling the shares at a fixed price. Unless there's something we haven't been told, it seems this approach is flawed? |  |
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| Another Interested Party.. on 09:59 - Mar 8 with 10839 views | EllDale |
At face value I’m really excited by this one. |  | | |
| Another Interested Party.. on 10:00 - Mar 8 with 10815 views | Yorkshire_Dale |
Exactly who now decides which offer is best and which has exclusivity ??
Need to get it right, but how. | | | |
| Another Interested Party.. on 10:12 - Mar 8 with 10695 views | DaleiLama |
The Trust (hopefully) now has a massive part to play, representing the fanbase, to navigate how this process evolves as we get closer to the sharp end of a deal. So glad we have the right man in the right position to lead the Trust Board in representing us to the best of their ability. | |
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| Another Interested Party.. on 10:14 - Mar 8 with 10672 views | ramsdale |
I feel like this is the right time now, with at least 2 parties signing a letter of intent, that SG hands over the reigns to the Trust to finalise a deal that is best for the club.
Be involved obviously, but there needs to be a more independent party involved in these negotiations. I saw somebody point out that Simon is the chairman of a fan-owned club, not the owner and that is totally on the money. He has a vested interest in getting the best financial deal, which he is entitled to have, but that doesn't mean it's the best deal for the club.
This offer with the golden share, for me, pips the other solely based on that, however I can see that The Football Club LLC have been trying to buy a professional club in Britain for a while. Why haven't they stepped forward well before this?
We need answers from all interested parties on their intentions for the club and they need to be vetted by multiple bodies. | | | |
| Another Interested Party.. on 10:15 - Mar 8 with 10656 views | 49thseason |
Back to basics.. who has the deepest pockets? Who has the most suitable expertise? Who can demonstrate they understand the inherent problems ? Which company has any sort of previous track record?
Would we prefer the WSH bid if they included a golden share?.. |  | | |
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| Another Interested Party.. on 10:21 - Mar 8 with 10614 views | Rehsad |
| Another Interested Party.. on 09:58 - Mar 8 by DaleiLama |
The first question that springs to mind is why this local lad with an interest in Dale has only just come forward. One could speculate that the sales price is the answer, but let's gloss over that for now.
The thing that I've been wondering about is how do you evaluate two deals in parallel. The club has now been valued absolutely as 9m x A share price. So all deals are the same if you acquire those 9m A shares. The only thing which would differentiate them is "extras". So each bid has until end of March (if SG is to be believed) to pitch the "extras" and presumably to formalise them in contracts, otherwise they are worth the square root of FA. But this process was designed to get a deal over the line quickly by selling the shares at a fixed price. Unless there's something we haven't been told, it seems this approach is flawed? |
The nominal value of the "A" Share is £0.22 and the Resolution (2) voted on yesterday was for them to be allotted at no less than their nominal value. I'm pretty sure that it would take an EGM to change this value but it could be done. | | | |
| Another Interested Party.. on 10:27 - Mar 8 with 10533 views | DaleiLama |
| Another Interested Party.. on 10:21 - Mar 8 by Rehsad |
The nominal value of the "A" Share is £0.22 and the Resolution (2) voted on yesterday was for them to be allotted at no less than their nominal value. I'm pretty sure that it would take an EGM to change this value but it could be done. |
So if either party is prepared to pay more after doing due diligence, one would assume another vote to increase from 22p would be a slam dunk. That would work and put more money into the club that would be very visible to all rather than a "side deal". | |
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| Another Interested Party.. on 10:32 - Mar 8 with 10484 views | samueloneils |
It sounds as if at least two parties, both the LOI people, will be at tomorrows match.
It would be nice if the noisy chanters against the board shut up this once and concentrate on supporting the team, as noisily as they like.
Imagine the image it would give to new investors if, possibly the most important match in our history where there is no excuse for not winning against the bottom team, is overshadowed by peevishness in the crowd. If the result is wrong, then we are in a relegation battle for sure.
Which is the priority?
Also we constantly hear from the players how much the noise from the fans encourages them. Remember until yesterday they will have been fearing they may lose their jobs this month.
Which is the priority?
Also whilst you are piling up this hate against SG and the board, who do you think will have to go on paying the bills and even the payroll, which is only two weeks away, while we go on considering alternative investors , working through due diligence and making sure we don`t infringe any league rules.
Time is critical now both on and off the pitch. Think Jim McNulty as well.
Lets put all energy tomorrow into supporting the players and impressing the investors by our presence, Recriminations can wait. | | | |
| Another Interested Party.. on 10:42 - Mar 8 with 10392 views | Rehsad |
The 'Golden Share' bit is interesting for what it doesn't say:
"TFC looks forward to releasing more information on its strategy for the club on 14 March 2024. It includes a plan to return 5% of the club’s shares to the Dale Trust. They also plan to grant the Dale Trust a golden share, which would allow them to protect the name, colors, and badge of the club in perpetuity. "
The three nice bits are in there but no mention at all about the sale or relocation of club stadium - which is interesting as the stadium is covered right up front in Recommendation 28 of the Fan Led Review:
https://irp.cdn-website.com/f29b56ad/files/uploaded/FSA%27s%20Golden%20Share%20S | | | |
| Another Interested Party.. on 10:43 - Mar 8 with 10380 views | Rehsad |
| Another Interested Party.. on 10:27 - Mar 8 by DaleiLama |
So if either party is prepared to pay more after doing due diligence, one would assume another vote to increase from 22p would be a slam dunk. That would work and put more money into the club that would be very visible to all rather than a "side deal". |
Yes - that would be my understanding too. | | | |
| Another Interested Party.. on 10:44 - Mar 8 with 10366 views | Dale69er |
| Another Interested Party.. on 10:21 - Mar 8 by Rehsad |
The nominal value of the "A" Share is £0.22 and the Resolution (2) voted on yesterday was for them to be allotted at no less than their nominal value. I'm pretty sure that it would take an EGM to change this value but it could be done. |
Not sure that another EGM would be needed to sell at a price higher than 22p. The resolution only prevents a sale at less than its nominal value.
But then I'm not an expert in this field. |  | | |
| Another Interested Party.. on 10:53 - Mar 8 with 10290 views | Rehsad |
| Another Interested Party.. on 10:44 - Mar 8 by Dale69er |
Not sure that another EGM would be needed to sell at a price higher than 22p. The resolution only prevents a sale at less than its nominal value.
But then I'm not an expert in this field. |
It will be in the Articles of Association - but I can't find my copy. I think that this issue has come up recently in that any change to the Ordinary share price of £2.35 has to be voted on. The reason for the A Share is primarily because the board needed to create a number of share to give 90% ownership at amp attractive price. This required a nominal value below the nominal value of the Ordinary Share - which is fixed. The Ordinary Share has a minimum of £0.50 but the A Share of £0.22. What I'm not sure about is whether the A Share price requires a vote. This is not specifically covered in the new Resolutions but the original Articles may just refer to 'Shares' and not 'Ordinary Shares'. At some point I will find a copy of the original Articles (in fact, as a Shareholder, I should soon be mailed a copy that incorporates the new Resolutions). | | | |
| Another Interested Party.. on 10:56 - Mar 8 with 10232 views | Brierls |
It's positive that another potential investor has gone pubic on a LOI.
I think this also demonstrates why it's often best not to reveal your hand too early. Maybe my scepticism is taking over, but the comments on Dale Trust and Golden Share look to be a direct reference to what's been said in the reaction to the WSH LOI.
We should certainly be asking WSH for a Golden Share as part of any prospective deal.
Who knows if there's more LOI's to come... |  | | |
| Another Interested Party.. on 11:12 - Mar 8 with 10088 views | ThreeLions |
| Another Interested Party.. on 09:59 - Mar 8 by EllDale |
At face value I’m really excited by this one. |
I'm the opposite . One thing that immediately jumped out is property development is highlighted in their biography. The first lot have a footprint of owning a club and running it as a club as it should be. This new lot only have the fact one of them has been to three dale games in his life which is how I understood the write up.
On first glance I'd be putting my faith in the World Soccer lot |  | | |
| Another Interested Party.. on 11:20 - Mar 8 with 9994 views | D_Alien |
| Another Interested Party.. on 10:56 - Mar 8 by Brierls |
It's positive that another potential investor has gone pubic on a LOI.
I think this also demonstrates why it's often best not to reveal your hand too early. Maybe my scepticism is taking over, but the comments on Dale Trust and Golden Share look to be a direct reference to what's been said in the reaction to the WSH LOI.
We should certainly be asking WSH for a Golden Share as part of any prospective deal.
Who knows if there's more LOI's to come... |
My first thought on reading the second LOI was the 'golden share' could be a bargaining chip, to be used with any other bids
Omitting it would now seem like a dereliction of duty by anyone claiming to be custodians of the club |  |
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| Another Interested Party.. on 11:24 - Mar 8 with 9943 views | wozzrafc |
| Another Interested Party.. on 10:14 - Mar 8 by ramsdale |
I feel like this is the right time now, with at least 2 parties signing a letter of intent, that SG hands over the reigns to the Trust to finalise a deal that is best for the club.
Be involved obviously, but there needs to be a more independent party involved in these negotiations. I saw somebody point out that Simon is the chairman of a fan-owned club, not the owner and that is totally on the money. He has a vested interest in getting the best financial deal, which he is entitled to have, but that doesn't mean it's the best deal for the club.
This offer with the golden share, for me, pips the other solely based on that, however I can see that The Football Club LLC have been trying to buy a professional club in Britain for a while. Why haven't they stepped forward well before this?
We need answers from all interested parties on their intentions for the club and they need to be vetted by multiple bodies. |
100% agree on the trust playing a major part here, although it should be in reviewing the various bids and putting across the fans perspective.
The TFC seem to have been around for a while from there statement, 'Justin and David worked with club leadership to develop their proposal over two months. In addition, they spent time in Rochdale in early February attending a match, meeting the club directors, and watching the team train. They look forward to returning to discuss their proposal and expand on their plans for the club with the board and the Dale Trust.' . They haven't made a decision to come forward until now and that could have been due to the change of approach by the board and the resolution on shares.
Interesting that TFC seem to be also reaching out to fans with their statement. This maybe because there is already another bidder where WSH come forward first.
it will be interesting to see what more comes out of the club with regards to the bidders. if you compare the two announcements the WSH was all 'They are a good fit, they meet the clubs objectives' the TLF announcement is literally a cut and paste job. Maybe this is just because they haven't spoken to them yet.
The next few weeks are no crucial. The right choice has to be made. The Trust should be able to have a say in this. [Post edited 8 Mar 11:25]
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| Another Interested Party.. on 11:30 - Mar 8 with 9881 views | rochedale |
Second investment is head and shoulders above what we know about the first. Let’s hope us fans have a say in which investment is approved, otherwise Simon gauge will still be running the club for WSH. Gauge needs thanking for what he has done, but this is now about the benefit of the club, not about how promptly he gets his money back! |  |
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| Another Interested Party.. on 11:31 - Mar 8 with 9875 views | D_Alien |
| Another Interested Party.. on 10:32 - Mar 8 by samueloneils |
It sounds as if at least two parties, both the LOI people, will be at tomorrows match.
It would be nice if the noisy chanters against the board shut up this once and concentrate on supporting the team, as noisily as they like.
Imagine the image it would give to new investors if, possibly the most important match in our history where there is no excuse for not winning against the bottom team, is overshadowed by peevishness in the crowd. If the result is wrong, then we are in a relegation battle for sure.
Which is the priority?
Also we constantly hear from the players how much the noise from the fans encourages them. Remember until yesterday they will have been fearing they may lose their jobs this month.
Which is the priority?
Also whilst you are piling up this hate against SG and the board, who do you think will have to go on paying the bills and even the payroll, which is only two weeks away, while we go on considering alternative investors , working through due diligence and making sure we don`t infringe any league rules.
Time is critical now both on and off the pitch. Think Jim McNulty as well.
Lets put all energy tomorrow into supporting the players and impressing the investors by our presence, Recriminations can wait. |
Fine sentiments, but those who might be thinking of anti-SG chants are unlikely to be reading this
Can we please also not fall into the idiom of using the term "hate" - vastly overused in much of current media discourse - to describe what is simply criticism
[Post edited 8 Mar 11:32]
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| Another Interested Party.. on 11:48 - Mar 8 with 9697 views | Rodingdale |
Small detail, when did we last play Man U at Spotland? | | | |
| Another Interested Party.. on 11:50 - Mar 8 with 9668 views | ThreeLions |
| Another Interested Party.. on 11:48 - Mar 8 by Rodingdale |
Small detail, when did we last play Man U at Spotland? |
Only one I can think of is the pre season friendly around 1998. Could have been earlier. | | | |
| Another Interested Party.. on 11:52 - Mar 8 with 9634 views | Hopwoodblue |
| Another Interested Party.. on 11:48 - Mar 8 by Rodingdale |
Small detail, when did we last play Man U at Spotland? |
Early nineties I think with the class of 92 if I remember right Paul Williams had to go in goal for us.
I think we won 3-2 it’s a long time ago that’s for sure
I think it was a Lancashire cup game [Post edited 8 Mar 11:55]
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| Another Interested Party.. on 11:54 - Mar 8 with 9603 views | SandyArising |
Who gets the choice of deciding the preferred bidder ? Surely not just SG ? He may go for the worst option just to ensure his 500k gets paid straight away to him. Are the other Directors involved in the decision including the Trust. Will that feed down to Trust members to have a say ? Slimy Simy will try and do what's best for him and disappear not giving a toss about the club. |  | | |
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