| TAKEOVER OFF? 19:33 - Jul 9 with 12900 views | RAFCBLUE |
https://www.daletrust.co.uk/2021/07/trust-update-re-investors/
Interesting news tonight emerging that the takeover might be being called off.
According to the Trust statement the EFL have said it ”cannot find any evidence of the source and sufficiency of funding” being provided by the potential purchaser.
I’m not a bright fella but even I know you have to get the EFL to signoff on a takeover after what happened to our friends at bury.
Rule 16.21 appears to be the key one:
“16.21. 2 The League shall have the power to require the Person who proposes to acquire or has acquired Control to appear before it and to provide evidence of the source and sufficiency of any funds which that Person proposes to invest in or otherwise make available to the Club.”
So that means if you are Andy Curran:
1) You have to go and see the EFL in person
2) You have to provide evidence of the source of the funds (i.e. have made the money legitimately from life and you’ve not up to anything naughty or illicit)
3) You have to provide sufficiency of funds (i.e. you can’t just turn up with £5 and a bag of crisps and say that will be enough to run a club before plunging them into a ton of debt).
Then the EFL have to signoff on you. No EFL signoff = no control.
I assume that person doing the signing off must be Nick Craig who is the EFL lawyer who was in the news when bury were taken over by a charlatan who ran them into the ground. I also presume that the EFL have a number of tests they do to check things like your background and your wealth to conclude you are a fit and proper person and I've heard David Bottomley use his name a few times before at fans forums.
With all that in mind if the EFL are saying they ”cannot find any evidence of the source and sufficiency of funding” being provided by the potential purchaser. then where does that leave Andy Curran?
To be fair, I’ve never heard of Andy Curran before his name showed up on here so couldn’t tell you how he’s made his money in life but he must have a wodge of cash from somewhere if he is going around trying to buy up shares in any football club.
Do that mean the takeover is off?!
It’s a strong quote from the EFL and their Head of Governance Ryan Hyde and suggests that Andy Curran is a liar who hasn’t provided what is needed for the EFL to review his credibility. |  |
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| TAKEOVER OFF? on 23:08 - Jul 9 with 4544 views | AndyH |
| TAKEOVER OFF? on 21:39 - Jul 9 by RAFCBLUE |
https://www.rochdaleafc.co.uk/news/2021/april/statement_swindongame/
"The majority of those in attendance travel separately to the ground, to minimise the risk of spreading Coronavirus, which is why the car park is still in full use on a matchday."
There were that many "posh" cars in the car park for the Swindon game you'd have thought we'd had royalty coming.
Completely agree with you that the whole evening and the involvement of the Speakmans was a stunt - look at the date too - 14th April.
Bottomley said on 30th April that a number of parties had signed NDA's. Therefore you would have thought that they were the people he was beauty parading. |
I'm getting confused here.... I get the Curran thing. But who is Darell Rose? Where is he from? How is he connected? Is he one of the Swindon crew? |  | | |
| TAKEOVER OFF? on 23:12 - Jul 9 with 4503 views | R17ALE |
| TAKEOVER OFF? on 23:08 - Jul 9 by AndyH |
I'm getting confused here.... I get the Curran thing. But who is Darell Rose? Where is he from? How is he connected? Is he one of the Swindon crew? |
From what I can gather, he's a car dealer in Worksop. I'll have to get Worksop based, Parkin, to investigate! |  |
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| TAKEOVER OFF? on 00:04 - Jul 10 with 4327 views | Sandyman |
| TAKEOVER OFF? on 23:12 - Jul 9 by R17ALE |
From what I can gather, he's a car dealer in Worksop. I'll have to get Worksop based, Parkin, to investigate! |
Know a couple of Mansfield fans. Not well thought of in the area they say. |  | | |
| TAKEOVER OFF? on 08:18 - Jul 10 with 4053 views | TalkingSutty |
| TAKEOVER OFF? on 00:04 - Jul 10 by Sandyman |
Know a couple of Mansfield fans. Not well thought of in the area they say. |
Bottomley could have done a deal with Mother Theresa and I would still have my suspicions...that’s the crux of the matter for me. A discredited Director and CEO is removed from the Club and then he and his fellow Director and Chairman go a long way to deciding the future of our Club. Take him out of the equation and I think the fans would be open to outside investment, it is needed.
No matter who buys into the Club they would be looked at both by those running the Club and the shareholders and fans, that’s just normal, they would expect that at any club, especially one that lives next door to the asset stripped Bury FC,that scrutiny therefore shouldn’t be a cause of annoyance to them.
The EFL now have very stringent checks in place on potential owners and associates and that also now involves other agencies, they will also know that and will expect full on scrutiny. If they come through with a full bill of health then we have to accept the situation. My preference was always a partly fan owned and run Club but even that would need some outside investment with the right partners...attracting the right partners is the key, most lower league clubs have the same problem. [Post edited 10 Jul 2021 8:30]
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| TAKEOVER OFF? on 08:34 - Jul 10 with 3973 views | Dalenet |
| TAKEOVER OFF? on 08:18 - Jul 10 by TalkingSutty |
Bottomley could have done a deal with Mother Theresa and I would still have my suspicions...that’s the crux of the matter for me. A discredited Director and CEO is removed from the Club and then he and his fellow Director and Chairman go a long way to deciding the future of our Club. Take him out of the equation and I think the fans would be open to outside investment, it is needed.
No matter who buys into the Club they would be looked at both by those running the Club and the shareholders and fans, that’s just normal, they would expect that at any club, especially one that lives next door to the asset stripped Bury FC,that scrutiny therefore shouldn’t be a cause of annoyance to them.
The EFL now have very stringent checks in place on potential owners and associates and that also now involves other agencies, they will also know that and will expect full on scrutiny. If they come through with a full bill of health then we have to accept the situation. My preference was always a partly fan owned and run Club but even that would need some outside investment with the right partners...attracting the right partners is the key, most lower league clubs have the same problem. [Post edited 10 Jul 2021 8:30]
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Can't argue with any of that TS. As to who it will eventually be, the question why Rochdale has to be answered. If we are picked up by a successful UK business person with cash and they invest in the club to grow it, we will eventually need more cash to maintain it. At some point they run out of cash or sell it on. I quite like what has happened at Accy - no fancy investment and rapid expansion but sensible support and a positive direction of travel
Wherever we go, I too hope the new Board don't stall on the option to raise cash through issuing shares to the fans. The outcome of such an exercise will determine our future. If the fans can't/won't do it in sufficient numbers it will demonstrate to everybody that we need outside help. On the other hand we might be pleasantly surprised. | | | |
| TAKEOVER OFF? on 08:46 - Jul 10 with 3914 views | TalkingSutty |
| TAKEOVER OFF? on 08:34 - Jul 10 by Dalenet |
Can't argue with any of that TS. As to who it will eventually be, the question why Rochdale has to be answered. If we are picked up by a successful UK business person with cash and they invest in the club to grow it, we will eventually need more cash to maintain it. At some point they run out of cash or sell it on. I quite like what has happened at Accy - no fancy investment and rapid expansion but sensible support and a positive direction of travel
Wherever we go, I too hope the new Board don't stall on the option to raise cash through issuing shares to the fans. The outcome of such an exercise will determine our future. If the fans can't/won't do it in sufficient numbers it will demonstrate to everybody that we need outside help. On the other hand we might be pleasantly surprised. |
Good post, as supporters we are mere spectators unfortunately. We can jump up and down and shout from the rooftops, post on forums etc but at the end of the day there is a process that every potential investor needs to go through, at that point if they prove themselves as worthy then they are in. The onus also needs to fall on the EFL, they are there as guardians to every member Club, if Clubs are exposed to charlatans under their watch then they have to be called to account. Anyway we play Luton today apparently😀 [Post edited 10 Jul 2021 8:47]
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| TAKEOVER OFF? on 11:42 - Jul 10 with 3635 views | EllDale |
If there’s a moral to this it should be don’t turn up with personalised number plates.
First Halsall, then Curran all too easily identified and traced.
They should have come in a hire car.
But they probably don’t know what the word moral means. | | | |
| TAKEOVER OFF? on 12:13 - Jul 10 with 3537 views | SuddenLad |
| TAKEOVER OFF? on 11:42 - Jul 10 by EllDale |
If there’s a moral to this it should be don’t turn up with personalised number plates.
First Halsall, then Curran all too easily identified and traced.
They should have come in a hire car.
But they probably don’t know what the word moral means. |
Some people simply can't help themselves. They let their egos run away with themselves. Big egos, big cars, big gobs and very often - big debts. It somehow goes with the territory. When people have very little traceable (or dubious) history and apparent wealth from unknown sources, it never bodes well.
There are plenty of them out there. That Jarvis character - bloody hell - more neck than a giraffe. A real Walter Mitty. How all these characters seem to gravitate together is amazing. It's as if they all have a built-in radar system that detects others of the same ilk.
Is there a collective noun for mountebanks? There should be. |  |
| “It is easier to fool people, than to convince them that they have been fooled†|
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| TAKEOVER OFF? on 12:53 - Jul 10 with 3400 views | 1907 |
Can someone explain to me why David Bottomley is still all over Linked In involving himself in posts relating to our club?
Mr Bottomley I hope this message finds its way to you. Stay away from our club. You are an unwanted parasite and no fan ever wants to see you anywhere near Spotland again. We all know that your ego knows no bounds but I sincerely hope for your sake that you never consider attending a game again. | | | |
| TAKEOVER OFF? on 13:10 - Jul 10 with 3337 views | 49thseason |
The problems faced by football clubs are caused by an inability to be able to square the cost of wages with income. The whole industry is riddled with debt from top to bottom. £3bn of debt in the Premiership, £1.3bn in the Championship, clubs in L1 and L2 are £30m in debt and it is all increasing every year. Football has become a ponzi scheme and at some point, maybe not too far away the whole edifice will collapse. There is currently much discussion in financial circles about inflation rising which in turn will increase the cost of borrowing and the difficulty of securing loans. Clubs with little debt might be the last survivors. Its not hard to see dozens of clubs going to the wall over the next couple of years if the pyramid starts to collapse. Blackburn Rovers lost £23m last year, how long will their owners continue to underwrite losses of nearly half a million a month on top of existing debts?
Locally, Oldham are £3m in debt, Bolton £30m, Wigan £30m, Salford £36M, Man U £675m, Man City £138m
Clubs like Rochdale need to avoid debt like the plague and instead build long-term sustainability by other means than crowds and TV monies... improving lotteries, club shops, maximising use of facilities and reducing overheads has to be the order of the day.
The EFL is far from innocent in this debt fiasco, its FFP/ SCMP gives far too much leeway for clubs to incurr debts, it refuses to cap wage spending or severly punish clubs that go into administration, thus encouraging the chancers and ne'erdowells we have seen over the last few weeks to spend money they don't have in the hope that the next promotion will repay their "investment". |  | | |
| TAKEOVER OFF? on 15:05 - Jul 10 with 3088 views | Dalenet |
| TAKEOVER OFF? on 13:10 - Jul 10 by 49thseason |
The problems faced by football clubs are caused by an inability to be able to square the cost of wages with income. The whole industry is riddled with debt from top to bottom. £3bn of debt in the Premiership, £1.3bn in the Championship, clubs in L1 and L2 are £30m in debt and it is all increasing every year. Football has become a ponzi scheme and at some point, maybe not too far away the whole edifice will collapse. There is currently much discussion in financial circles about inflation rising which in turn will increase the cost of borrowing and the difficulty of securing loans. Clubs with little debt might be the last survivors. Its not hard to see dozens of clubs going to the wall over the next couple of years if the pyramid starts to collapse. Blackburn Rovers lost £23m last year, how long will their owners continue to underwrite losses of nearly half a million a month on top of existing debts?
Locally, Oldham are £3m in debt, Bolton £30m, Wigan £30m, Salford £36M, Man U £675m, Man City £138m
Clubs like Rochdale need to avoid debt like the plague and instead build long-term sustainability by other means than crowds and TV monies... improving lotteries, club shops, maximising use of facilities and reducing overheads has to be the order of the day.
The EFL is far from innocent in this debt fiasco, its FFP/ SCMP gives far too much leeway for clubs to incurr debts, it refuses to cap wage spending or severly punish clubs that go into administration, thus encouraging the chancers and ne'erdowells we have seen over the last few weeks to spend money they don't have in the hope that the next promotion will repay their "investment". |
Look at those debts for Bolton and Wigan. And both continue to "invest" in their squads. With what? The EFL is not fit to run a bath and I do hope the Govt led review tries to fix some of this. | | | |
| TAKEOVER OFF? on 15:18 - Jul 10 with 3021 views | Plattyswrinklynuts |
| TAKEOVER OFF? on 15:05 - Jul 10 by Dalenet |
Look at those debts for Bolton and Wigan. And both continue to "invest" in their squads. With what? The EFL is not fit to run a bath and I do hope the Govt led review tries to fix some of this. |
All the banks need to do is call in their loans. That will do the EFL’s job for them. If clubs were treated like any other business half of them would be gone already. |  | | |
| TAKEOVER OFF? on 15:21 - Jul 10 with 2997 views | electricblue |
| TAKEOVER OFF? on 15:05 - Jul 10 by Dalenet |
Look at those debts for Bolton and Wigan. And both continue to "invest" in their squads. With what? The EFL is not fit to run a bath and I do hope the Govt led review tries to fix some of this. |
This really does infuriate me some what..
The EFL are a disgrace and its time something was done about it each lge should have its own level of a capping salary... |  |
| My all time favourite Dale player Mr Lyndon Symmonds |
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| TAKEOVER OFF? on 18:05 - Jul 10 with 2677 views | 49thseason |
| TAKEOVER OFF? on 15:21 - Jul 10 by electricblue |
This really does infuriate me some what..
The EFL are a disgrace and its time something was done about it each lge should have its own level of a capping salary... |
To an extent it seems they now are doing, the L2 wage bill is now capped at £1.5m and L1 at £2.5m, not sure wuat happens to relegated clubs with contracted players.
https://www.efl.com/news/2020/august/squad-salary-caps-introduced-in-league-one-
For a squad of 24 or 25 players its only £60k per head
I await with baited breath the decision to start fining clubs who breach these guidelines. But there are always ways around these pay caps. | | | |
| TAKEOVER OFF? on 18:16 - Jul 10 with 2634 views | Salegraham |
| TAKEOVER OFF? on 15:05 - Jul 10 by Dalenet |
Look at those debts for Bolton and Wigan. And both continue to "invest" in their squads. With what? The EFL is not fit to run a bath and I do hope the Govt led review tries to fix some of this. |
This gov couldn't give a toss about footy until tomorrow night. | | | |
| TAKEOVER OFF? on 19:22 - Jul 10 with 2454 views | boromat |
| TAKEOVER OFF? on 15:18 - Jul 10 by Plattyswrinklynuts |
All the banks need to do is call in their loans. That will do the EFL’s job for them. If clubs were treated like any other business half of them would be gone already. |
Banks won't touch most football clubs with a barge pole. The loans in the main aren't to banks. | |
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| TAKEOVER OFF? on 19:36 - Jul 10 with 2377 views | since58 |
| TAKEOVER OFF? on 18:16 - Jul 10 by Salegraham |
This gov couldn't give a toss about footy until tomorrow night. |
Why what changes after tomoz???
Are we all getting free bbc licences or tax rebates
??? | | | |
| TAKEOVER OFF? on 19:39 - Jul 10 with 2356 views | Salegraham |
| TAKEOVER OFF? on 19:36 - Jul 10 by since58 |
Why what changes after tomoz???
Are we all getting free bbc licences or tax rebates
??? |
Just watch out for Bozo all over the TV and media if England win | | | |
| TAKEOVER OFF? on 19:48 - Jul 10 with 2303 views | since58 |
| TAKEOVER OFF? on 19:39 - Jul 10 by Salegraham |
Just watch out for Bozo all over the TV and media if England win |
Bet mazoorella will be quiet if Italy win. | | | |
| TAKEOVER OFF? on 20:00 - Jul 10 with 2248 views | since58 |
Matarella. | | | |
| TAKEOVER OFF? on 09:21 - Jul 15 with 1549 views | RAFCBLUE |
| TAKEOVER OFF? on 19:22 - Jul 10 by boromat |
Banks won't touch most football clubs with a barge pole. The loans in the main aren't to banks. |
That's why the EFL look VERY closely at where that new money has come from. | |
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| TAKEOVER OFF? on 08:54 - Aug 19 with 828 views | UpTheDaleNotForSale |
seems to be a fair amount of press interest this week - lots of queries coming in on social media, so giving these threads a bump. |  |
| Twitter : @DaleNotForSale
Facebook : facebook.com/upthedalenotforsale |
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