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Laurence Bassini said on Talksport (transcript of the video in the link) that he is "bringing a criminal case against Nick Craig of the EFL regarding where he witheld evidence."
Meanwhile the Birmingham fans are in uproar about the risk of asset strippers and Bassini says:
1) Openly says he will only be there for 3 years. 2) He is not going on the Board. 3) Dodges the questions of the money and where it has come from.
"I am not seeking his approval" says Bassini before defaming Nick Craig (EFL lawyer) calling in the Talksport produced video calling Mr Craig "a crook"
I wonder how closely the EFL are going to look at the links between Bassini and his takeover of Birmingham and Southall's attempted takeover of Dale.
Southall wouldn't be trying to dip his bread on a much more lucrative opportunity and leaving us behind now? I could see why he might; Bassini could get in at Birmingham!
George Bernard Shaw had it right:
"He who can does; he who cannot, teaches."
https://www.visittheusa.co.uk/
Incoming Birmingham City investor Laurence Bassini tells @JewishTelegraph that he will sack Lee Bowyer and appoint Mark Warburton as first team manager and bring in fresh first team and office staff, as well as a new chairman and board. Full story Friday’s JT. #BCFCpic.twitter.com/GUoT5perdq
— Jewish Telegraph | e-edition.jewishtelegraph.com (@JewishTelegraph) June 15, 2022
He must have contacts at the Jewish Telegraph! Breaking exclusives with his bid for Birmingham City as well as a few months ago when he tried to sue Charlton!
[Post edited 18 Jun 2022 23:53]
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BIRMINGHAM CITY: Is Matthew Southall working with Laurence Bassini again? on 08:45 - Jun 19 with 12583 views
BIRMINGHAM CITY: Is Matthew Southall working with Laurence Bassini again? on 23:49 - Jun 18 by HullDale
Incoming Birmingham City investor Laurence Bassini tells @JewishTelegraph that he will sack Lee Bowyer and appoint Mark Warburton as first team manager and bring in fresh first team and office staff, as well as a new chairman and board. Full story Friday’s JT. #BCFCpic.twitter.com/GUoT5perdq
— Jewish Telegraph | e-edition.jewishtelegraph.com (@JewishTelegraph) June 15, 2022
He must have contacts at the Jewish Telegraph! Breaking exclusives with his bid for Birmingham City as well as a few months ago when he tried to sue Charlton!
The Hong Kong Stock Exchange have announced that shareholder Vong Pech has sold around 21 percent of his stake in the club, but it is not known to whom these shares have been sold.
"The Company has been informed by Mr. Vong Pech (“Mr. Vong”), a substantial shareholder of the Company holding approximately 23.53% of the issued share capital of the Company as at the date of this announcement, that by an agreement dated 12 June 2022, he has agreed to dispose of approximately 21.64% of the issued share capital of Birmingham City PLC (“BCP”) beneficially owned by him.
Now we know from everything in the last year that the EFL rules say that it's 10 days before you sign those agreements the EFL need to give their clearances and receive all of the documents.
Hopefully some remembered that or this might be another hostile takeover!
It won't help that Bassini called Nick Craig of the EFL "a crook" live on national radio either!
I'm not sure how Bassini, who is TWICE bankrupted can run a deal where he's not going to be involved day to day but has suddenly found "£10 million" to put in.
Lee Bowyer's lawyer will be having a field day based on how his client is about to be sacked!
George Bernard Shaw had it right:
"He who can does; he who cannot, teaches."
https://www.visittheusa.co.uk/
The questions that are posed, is the same we asked about MH and Southall.
1, I believe that Bassini is borrowing up to £30 million to buy the club, so how can he service the debt and interest payments, based on the presumption that Birmingham are not making a great profit,if any?
2, He is going to put £10 million into the club, based on the shares he will own, but how can he generate a return on his investment?
3, I baffled on how he will pass the EFL Owners and directors test, based on his previous history, which he claims as being tainted by other people hiding evidence to show that he was innocent. It amazes me that there are too many people out there, who think, the owners and directors test does not apply to them, we have seen Curran, firstly claim that he had passed the test to prove he had the money, which he EFL said was untrue, then he stated something along the lines that he owned 43% of the club (the infamous zoom meeting), so he was not bothered what the EFL thought, before withdrawing from the process, when the investigation began.
4, Bassini claims that he will be bring a criminal case against the EFL lawyer, but am I wrong in saying that only the police and the DPP can bring a criminal case. May I ask how is his case going with Charlton to recover the money lent to Southall to buy his shares in Charlton?
5. I remember the Charlton dossier on Southall, in which he claimed to buying players and doing this and that, but only seemed to billing the club for rented apartments, cars, etc. So when Bassini says something, I have to be doubtful.
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BIRMINGHAM CITY: Is Matthew Southall working with Laurence Bassini again? on 09:54 - Jun 19 with 12464 views
BIRMINGHAM CITY: Is Matthew Southall working with Laurence Bassini again? on 09:13 - Jun 19 by NorthernDale
The questions that are posed, is the same we asked about MH and Southall.
1, I believe that Bassini is borrowing up to £30 million to buy the club, so how can he service the debt and interest payments, based on the presumption that Birmingham are not making a great profit,if any?
2, He is going to put £10 million into the club, based on the shares he will own, but how can he generate a return on his investment?
3, I baffled on how he will pass the EFL Owners and directors test, based on his previous history, which he claims as being tainted by other people hiding evidence to show that he was innocent. It amazes me that there are too many people out there, who think, the owners and directors test does not apply to them, we have seen Curran, firstly claim that he had passed the test to prove he had the money, which he EFL said was untrue, then he stated something along the lines that he owned 43% of the club (the infamous zoom meeting), so he was not bothered what the EFL thought, before withdrawing from the process, when the investigation began.
4, Bassini claims that he will be bring a criminal case against the EFL lawyer, but am I wrong in saying that only the police and the DPP can bring a criminal case. May I ask how is his case going with Charlton to recover the money lent to Southall to buy his shares in Charlton?
5. I remember the Charlton dossier on Southall, in which he claimed to buying players and doing this and that, but only seemed to billing the club for rented apartments, cars, etc. So when Bassini says something, I have to be doubtful.
Those were broadly Simon Jordan's questions and the theme was:
* I can't / won't tell you where the money is from * I can't / won't tell you who is going on the Board * The EFL cheat - Bassini called Nick Craig "a crook" live on national radio * I'm not going on the Board - so not subject to the EFL tests - but I'm fronting the deal. * Can't tell you the specifics but it will be better than what the fans have had.
Read that again and think about what the narrative was from Alexander Jarvis. Think about any differences with Andrew Curran and Matt Southall playing the role that Bassini is playing in the Birmingham takeover.
I think what is clear is the EFL are not crooks - they have a very hard job policing a large number of individuals who think a corporate raid on an EFL club is an easy win.
It's also going to be very interesting to see if the recent rule changes by the EFL shut the door on Bassini - I think it might take three months or so for that to be done and as we've seen the EFL are still investigating / disciplining those they believe involved.
I don't think Bassini will succeed against that backdrop. Curran and Southall learned that after Bury, the EFL are much tougher and I don't think they will crack here.
George Bernard Shaw had it right:
"He who can does; he who cannot, teaches."
https://www.visittheusa.co.uk/
BIRMINGHAM CITY: Is Matthew Southall working with Laurence Bassini again? on 09:54 - Jun 19 by RAFCBLUE
Those were broadly Simon Jordan's questions and the theme was:
* I can't / won't tell you where the money is from * I can't / won't tell you who is going on the Board * The EFL cheat - Bassini called Nick Craig "a crook" live on national radio * I'm not going on the Board - so not subject to the EFL tests - but I'm fronting the deal. * Can't tell you the specifics but it will be better than what the fans have had.
Read that again and think about what the narrative was from Alexander Jarvis. Think about any differences with Andrew Curran and Matt Southall playing the role that Bassini is playing in the Birmingham takeover.
I think what is clear is the EFL are not crooks - they have a very hard job policing a large number of individuals who think a corporate raid on an EFL club is an easy win.
It's also going to be very interesting to see if the recent rule changes by the EFL shut the door on Bassini - I think it might take three months or so for that to be done and as we've seen the EFL are still investigating / disciplining those they believe involved.
I don't think Bassini will succeed against that backdrop. Curran and Southall learned that after Bury, the EFL are much tougher and I don't think they will crack here.
A question i posed a couple of days ago (in a slightly different form) was whether the recent EFL rule changes can be applied retrospectively?
I think that in law, there's a principle that someone should be tried under the legal framework that applied at the time of the offence. Not sure if the EFL regulations have the same basis as law
It could well be that certain individuals are scrambling to get deals done on the basis they were initiated prior to the new EFL rules coming into effect
BIRMINGHAM CITY: Is Matthew Southall working with Laurence Bassini again? on 12:16 - Jun 19 by D_Alien
A question i posed a couple of days ago (in a slightly different form) was whether the recent EFL rule changes can be applied retrospectively?
I think that in law, there's a principle that someone should be tried under the legal framework that applied at the time of the offence. Not sure if the EFL regulations have the same basis as law
It could well be that certain individuals are scrambling to get deals done on the basis they were initiated prior to the new EFL rules coming into effect
Our good friends at Charlton have sent me details of the Portsmouth gubbins a dozen years or so ago that sets a precedent on OADT eligibility and it not being dependent on having criminal records as a condition for failure.
They have also submitted to the "authorities" details of the business activities of 2 of those involved in the ESI debacle at Charlton. Although they acknowledge that such tip-off are most likely numerous, the plus side in this instance is one of their number having access to a senior official at one of these "authorities." And we're not talking EFL in this instance.
BIRMINGHAM CITY: Is Matthew Southall working with Laurence Bassini again? on 23:49 - Jun 18 by HullDale
Incoming Birmingham City investor Laurence Bassini tells @JewishTelegraph that he will sack Lee Bowyer and appoint Mark Warburton as first team manager and bring in fresh first team and office staff, as well as a new chairman and board. Full story Friday’s JT. #BCFCpic.twitter.com/GUoT5perdq
— Jewish Telegraph | e-edition.jewishtelegraph.com (@JewishTelegraph) June 15, 2022
He must have contacts at the Jewish Telegraph! Breaking exclusives with his bid for Birmingham City as well as a few months ago when he tried to sue Charlton!
[Post edited 18 Jun 2022 23:53]
The editor of the Jewish Telegraph - Paul Harris - is also a director of Bassini Board Ltd., as is Chris Farnell.
For all the different shenanigans that this coven of crooks have tried at different clubs, surely the easiest way of dealing with them is for the EFL simply to state that they will not ratify any deals for any club where any of these goons are shown to have any involvement whatsoever, and that the various individuals are banned for life from any involvement in football in this country, in any capacity.
Then, everyone can breathe a little easier. There isn't an ounce of good in any of them.
“It is easier to fool people, than to convince them that they have been fooledâ€
BIRMINGHAM CITY: Is Matthew Southall working with Laurence Bassini again? on 12:16 - Jun 19 by D_Alien
A question i posed a couple of days ago (in a slightly different form) was whether the recent EFL rule changes can be applied retrospectively?
I think that in law, there's a principle that someone should be tried under the legal framework that applied at the time of the offence. Not sure if the EFL regulations have the same basis as law
It could well be that certain individuals are scrambling to get deals done on the basis they were initiated prior to the new EFL rules coming into effect
In short, yes DA.
With these particular rules on "control" just signed off at the recent EFL AGM, it appears that they are at the point of time in assessment.
That will be good news for us and Birmingham and others because a decision hasn't been made. The EFL haven't actually said yet if Morton House have been approved, or if that have been declined. One way or another that decision will get made at a future point and the rules used to decide will be the rules in place at the time.
I'm not sure the law in the general sense comes into it. The EFL are a members organisation with rules and criteria on what membership means and what responsibilities membership holds. If you don't like the EFL rules it's dead simple; don't be a member!
George Bernard Shaw had it right:
"He who can does; he who cannot, teaches."
https://www.visittheusa.co.uk/
BIRMINGHAM CITY: Is Matthew Southall working with Laurence Bassini again? on 22:01 - Jun 19 by RAFCBLUE
In short, yes DA.
With these particular rules on "control" just signed off at the recent EFL AGM, it appears that they are at the point of time in assessment.
That will be good news for us and Birmingham and others because a decision hasn't been made. The EFL haven't actually said yet if Morton House have been approved, or if that have been declined. One way or another that decision will get made at a future point and the rules used to decide will be the rules in place at the time.
I'm not sure the law in the general sense comes into it. The EFL are a members organisation with rules and criteria on what membership means and what responsibilities membership holds. If you don't like the EFL rules it's dead simple; don't be a member!
If that's right, and adjudication on the transfer of shares will apply under the rules at the point of decision (rather than when the attempted transfer occurred) that would in many ways exonerate the EFL against the accusations of unconscionable delay and dither; they were looking to strengthen their hand with a change of rules before coming off the fence
Of course, that may be something of a kinder interpretation of what's happening than the events deserve; and in any case, the EFL have taken a year to come through with it! But the end result is what matters most, albeit at the expense of a great deal of criticism arising from our particular plight. And maybe its only because other clubs have been put under similar strains that action has been taken
BIRMINGHAM CITY: Is Matthew Southall working with Laurence Bassini again? on 22:27 - Jun 19 by D_Alien
If that's right, and adjudication on the transfer of shares will apply under the rules at the point of decision (rather than when the attempted transfer occurred) that would in many ways exonerate the EFL against the accusations of unconscionable delay and dither; they were looking to strengthen their hand with a change of rules before coming off the fence
Of course, that may be something of a kinder interpretation of what's happening than the events deserve; and in any case, the EFL have taken a year to come through with it! But the end result is what matters most, albeit at the expense of a great deal of criticism arising from our particular plight. And maybe its only because other clubs have been put under similar strains that action has been taken
I think it is and that would explain why Bassini is coming out today and saying that the deal has until 30th June to get done or he is out.
Laurence Bassini has told BirminghamLive he has until June 30 to complete his takeover at Birmingham City.
Meanwhile, in the comments of that article, "DubaiBluenose" has his fingers on the pulse:
"Without an announcement by the HKSE that BSH are relinquishing the remaining 75%, (whoever REALLY owns it) how can this article state that Bassini is ready to take charge of the club?
It is a mystery as to why the HKSE, a public body with responsibility for all shareholders in a listing have declined to name the new owner of the 21.64% share yet have named the seller of the share if Von Pech really owns it that is.
Frankly the sale of a quarter of a commodity makes no difference to the whole.
If this goes ahead in it's current state then all Bassini is doing is handing over around £7.5 million for less than a quarter share with no real say in where it goes next, so why does he need his £10 million loan and DS's money unless he is naive enough to hand over the £35 million and let the Chinese con artists run the show for the next two years, can't see someone as astute as DS doing that.
That paltry sum will presumably go to the real owner and not to BSH so how does that help with diversification of assets?
The longer this goes on the more putrid the smell becomes.
It almost feels like a meeting of a den of criminals all vieing to see who can most out of a deal to the detriment of the club and the fans.
This ridiculous farce has more holes in it than a certain Swiss cheese.
Indeed.
It's almost like our experiences of the past twelve months have educated one or two to the fact there are a group of individuals knackering or attempting to knacker EFL clubs on the QT.
George Bernard Shaw had it right:
"He who can does; he who cannot, teaches."
https://www.visittheusa.co.uk/
The manager he named as his new man (Mark Warburton) has joined Premier League West Ham United's backroom staff.
It is almost as if the naming of the next manager was done to unsettle Birmingham City at a time of takeover and claims that Bassini has "exchanged contracts" have all gone quiet; presumably the EFL have received all of the paperwork and financial projections from the twice bankrupt?
Big week for Bassini/Southall - last chance saloon on takeovers done in dark rooms and alleyways when the EFL's position is now:
Clubs will now be required to include a Mandatory Article within their Articles of Association which states that the Directors of the Club may refuse to register the transfer of any share where:
i) the EFL has not confirmed its consent to the acquisition of Control
ii) the EFL has not confirmed that that such Person is not liable to be disqualified
iii) if registering the transfer of any share would cause the Club to breach any other
equivalent rule or regulation of another body such as the Premier League or the Football Association
George Bernard Shaw had it right:
"He who can does; he who cannot, teaches."
https://www.visittheusa.co.uk/
It is understood he has written to the EFL to ask if there is any reason why he would not pass their Owner’s and Director’s Test. A source close to Bassini has told The Athletic that he received a reply to confirm his ban has expired.
Whether that means the EFL would actually approve him as a director, or allow him to be the controlling party of any new ownership group at an EFL club without taking the test, is another matter.
But it is up to the club in question to inform the league about a proposed new director, or shadow director, and there has been no contact from Birmingham along those lines so far.
I'm sure the EFL rules mention that you need to get clearance 10 days before - so if Bassini hasn't got EFL clearance AND Birmingham City have not contacted the EFL according to the article.
On that basis it doesn't look like Bassini is a credible buyer in June.
The second best line in there: Bassini has failed to get bids for Bolton Wanderers, Bury and Oldham Athletic over the line in the past.
That makes Stewart Day, Steve Dale and Abdallah Lemsagam all better qualified owners than Bassini.
Then the best one: At this stage, the EFL is not reviewing any information around Bassini’s bid because nothing has been presented to them. Clearly there is some way to go before anything moves forward.
Good old EFL. Let's hope they are watching Birmingham closely all goings on this Summer involving possible takeovers and the individuals hiding in the shadows that are supporting them.
George Bernard Shaw had it right:
"He who can does; he who cannot, teaches."
https://www.visittheusa.co.uk/
As things stand BirminghamLive has been told that the EFL are not yet reviewing any related information — on that basis that thus far none has been presented and probably won't be until completion.
I'm pretty sure having followed the Morton House saga for the last year is that the way it is supposed to work is for Bassini to send things to the EFL before any deal is done.
It's the same small number of people making a mockery of the EFL and their rules.
3 Acquiring of Control
3.1 If any Person proposes to acquire Control of a Club:
3.1.1 the Club and/or the Person shall, as far in advance of the acquisition of Control as reasonably possible and in any event no later than 10 Normal Working Days prior to the date on which it is anticipated that such acquisition of Control will take place:
(a) submit to the League a duly completed Declaration in respect of each Person who will become a Relevant Person upon the proposed acquisition of Control; and
(b) submit to the League up to date Future Financial Information (as defined in Regulation 16) prepared to take into account the consequences of the change of Control on the Club’s future financial position;
3.1.2 the League shall have the power to require the Club and/or the Person who proposes to acquire Control to appear before it and to provide evidence of the ultimate source and sufficiency of any funds which that Person proposes to utilise to acquire Control and/or invest in or otherwise make available to the Club.
That's Birmingham getting charged by the EFL then even though it is Bassini and a load of other characters in the shadows pulling all the strings on a deal.
The EFL should be brave and ban all of these chancers indefinitely until they get the message that fooball's governing bodies do exist for a reason.
George Bernard Shaw had it right:
"He who can does; he who cannot, teaches."
https://www.visittheusa.co.uk/
"If you are like me and think there is a great deal of jeopardy in having Laurence Bassini at your football club then stay with the status quo for as long as it is until someone comes along who is a bit more grown up."
Matt Southall's mate Laurence appears to have missed his own deadline and no-one knows if he's done a deal or not.
But he's not talking to Jim Whyte.
The EFL are silent on it.
I'm going to go with he's not done a deal, because he can't do a deal.
Matt Southall needs to go and help him. Charlton fans saw the two were very close in their time together at Bolton and the Valley.
George Bernard Shaw had it right:
"He who can does; he who cannot, teaches."
https://www.visittheusa.co.uk/
As things stand BirminghamLive has been told that the EFL are not yet reviewing any related information — on that basis that thus far none has been presented and probably won't be until completion.
I'm pretty sure having followed the Morton House saga for the last year is that the way it is supposed to work is for Bassini to send things to the EFL before any deal is done.
It's the same small number of people making a mockery of the EFL and their rules.
3 Acquiring of Control
3.1 If any Person proposes to acquire Control of a Club:
3.1.1 the Club and/or the Person shall, as far in advance of the acquisition of Control as reasonably possible and in any event no later than 10 Normal Working Days prior to the date on which it is anticipated that such acquisition of Control will take place:
(a) submit to the League a duly completed Declaration in respect of each Person who will become a Relevant Person upon the proposed acquisition of Control; and
(b) submit to the League up to date Future Financial Information (as defined in Regulation 16) prepared to take into account the consequences of the change of Control on the Club’s future financial position;
3.1.2 the League shall have the power to require the Club and/or the Person who proposes to acquire Control to appear before it and to provide evidence of the ultimate source and sufficiency of any funds which that Person proposes to utilise to acquire Control and/or invest in or otherwise make available to the Club.
That's Birmingham getting charged by the EFL then even though it is Bassini and a load of other characters in the shadows pulling all the strings on a deal.
The EFL should be brave and ban all of these chancers indefinitely until they get the message that fooball's governing bodies do exist for a reason.
I also think the main stream media should stop giving these charlatans a platform and air time. Instead they should start to call them out.
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BIRMINGHAM CITY: Is Matthew Southall working with Laurence Bassini again? on 09:25 - Jul 2 with 8972 views
BIRMINGHAM CITY: Is Matthew Southall working with Laurence Bassini again? on 22:25 - Jul 1 by wozzrafc
I also think the main stream media should stop giving these charlatans a platform and air time. Instead they should start to call them out.
I'm of the opposite view wozz.
The more people like Simon Jordan and Jim Whyte shine a much needed light on the dark and dirty corners of football and these "investors" who are no more than asset strippers, the better football will be.
Credit to the EFL - they have recognised this in the last 3 years prompted by their complete failure to prevent bury fc being pillaged but then having other issues to deal with caused by nefarious "investment" that in every case I can think of destabalised the club in question and then left it in a worst state.
Birmingham is the latest on the line of distress but you can add into that line Charlton, Swindon, Derby and probably to an extent ourselves.
Can you imagine Curran or Southall going on Talksport vs Simon Jordan?
Jordan tore Matt Southall a new one when he bought Charlton for £1 and clearly has no time for the former Blackburn ice hockey player.
Equally the EFL have stepped up their game here IMO - now they have these things called "Mandatory Articles" which every club has to pass and we did on Thursday night.
Now the EFL calls the shots - so if you are Matt Southall or Andrew Curran you need to go and get their blessing first - not takeover a club and hope they will give it to you.
I don't think Bassini has the money to complete; will be an interesting watch and to what the EFL now do to him if he does complete without their permission in place.
George Bernard Shaw had it right:
"He who can does; he who cannot, teaches."
https://www.visittheusa.co.uk/
BIRMINGHAM CITY: Is Matthew Southall working with Laurence Bassini again? on 09:25 - Jul 2 by RAFCBLUE
I'm of the opposite view wozz.
The more people like Simon Jordan and Jim Whyte shine a much needed light on the dark and dirty corners of football and these "investors" who are no more than asset strippers, the better football will be.
Credit to the EFL - they have recognised this in the last 3 years prompted by their complete failure to prevent bury fc being pillaged but then having other issues to deal with caused by nefarious "investment" that in every case I can think of destabalised the club in question and then left it in a worst state.
Birmingham is the latest on the line of distress but you can add into that line Charlton, Swindon, Derby and probably to an extent ourselves.
Can you imagine Curran or Southall going on Talksport vs Simon Jordan?
Jordan tore Matt Southall a new one when he bought Charlton for £1 and clearly has no time for the former Blackburn ice hockey player.
Equally the EFL have stepped up their game here IMO - now they have these things called "Mandatory Articles" which every club has to pass and we did on Thursday night.
Now the EFL calls the shots - so if you are Matt Southall or Andrew Curran you need to go and get their blessing first - not takeover a club and hope they will give it to you.
I don't think Bassini has the money to complete; will be an interesting watch and to what the EFL now do to him if he does complete without their permission in place.
Agree with all of that apart from
"Credit to the EFL - they have recognised this in the last 3 years prompted by their complete failure to prevent bury fc being pillaged but then having other issues to deal with caused by nefarious "investment" that in every case I can think of destabalised the club in question and then left it in a worst state"
Bury were in millions of debt before Day and Dale, brought on by their own overspending trying to compete with the football league's big boys, while not having the means to do so. What happened to them was mainly self inflicted, though of course it's easy to blame Day, Dale and the football authorities, rather than the so called supporter's club and others who were happy that the dream of sustainable higher up football was continued.
BIRMINGHAM CITY: Is Matthew Southall working with Laurence Bassini again? on 14:07 - Jul 2 by foreverhopefulDale
Agree with all of that apart from
"Credit to the EFL - they have recognised this in the last 3 years prompted by their complete failure to prevent bury fc being pillaged but then having other issues to deal with caused by nefarious "investment" that in every case I can think of destabalised the club in question and then left it in a worst state"
Bury were in millions of debt before Day and Dale, brought on by their own overspending trying to compete with the football league's big boys, while not having the means to do so. What happened to them was mainly self inflicted, though of course it's easy to blame Day, Dale and the football authorities, rather than the so called supporter's club and others who were happy that the dream of sustainable higher up football was continued.
BIRMINGHAM CITY: Is Matthew Southall working with Laurence Bassini again? on 14:07 - Jul 2 by foreverhopefulDale
Agree with all of that apart from
"Credit to the EFL - they have recognised this in the last 3 years prompted by their complete failure to prevent bury fc being pillaged but then having other issues to deal with caused by nefarious "investment" that in every case I can think of destabalised the club in question and then left it in a worst state"
Bury were in millions of debt before Day and Dale, brought on by their own overspending trying to compete with the football league's big boys, while not having the means to do so. What happened to them was mainly self inflicted, though of course it's easy to blame Day, Dale and the football authorities, rather than the so called supporter's club and others who were happy that the dream of sustainable higher up football was continued.
[Post edited 2 Jul 2022 17:56]
I can see your perspective on that foreverhopefuldale.
Whilst there is no doubt that bury was a circus for many years before Neville Neville introduced Stewart Day and then Day sold out to Steve Dale, the key part of the bury demise was that Steve Dale did his takeover without needing to bother complying with the EFL regulations.
The link above is the independent review into the failure of bury fc.
If you look at section 7 onwards it's damning and seems to highlight that there are rules in place, the checks on those operating under change of ownership were very lax. Crucially:
7.11 Mr Dale never provided the proof of funds required by the EFL.
The conclusions were pretty hard on the EFL: 8.3 This case has highlighted several issues with the EFL Regulations, in particular in relation to:
8.3.1 the OAD Test. There is no doubt that the EFL applied the OAD Test properly in relation to Mr Day and Mr Dale. The question is whether the test as currently written is fit for purpose. In particular, it only looks at a narrow list of objective criteria, and does not take into account various other factors that speak to whether a new owner or director is a fit and proper person to own/run a member Club.
8.3.2 the regulations that apply to changes of ownership of a Club. Once again, the EFL applied those regulations when Mr Dale acquired Bury FC from Mr Day. However, the regulations do not prevent a new owner acquiring the Club before he or she has provided a business plan for the Club and proof of the funding required to underwrite that plan. I am aware that the EFL is already considering blocking changes in control until the new owner has provided adequate evidence of source and sufficiency of funding. For example, it could require the new owner to provide irrevocable financial guarantees of payment of any funding requirements for at least two seasons.
8.3.3 the regulations relating to ongoing monitoring of a Club's financial health. In particular, the Regulations do not currently require League One and Two clubs to submit annual business plans, underwritten by adequate proof of funding, or half-yearly management accounts, and the SCMP submissions they are required to file were never intended to be and are not an adequate substitute. the lack of regulations preventing Clubs pledging capital assets such as the stadium and training ground as security for loans that are used not for capital improvements but to cover operating costs or other short-term purposes. In this case, it has been suggested that the mortgage placed on Gigg Lane to secure the loan from Capital Bridging was a key factor in C&N Sporting Risk's decision not to buy the club.
The media narrative is changing too - this afternoon on Talksport - "clubs should be protected" and that is coming out loud and clear across multiple media channels now.
Those wanting to take charge at Derby and Birmingham are getting airtime to be tested - we await with interest if Andrew Curran will ring Jim Whyte on Monday morning and ask to be on!
👏 “Football clubs should be safeguarded. They’re institutions.”
😔 “They should be protected. It’s appalling how a club like Birmingham - a proper club - [has been treated].”
The EFL now have some hard lines to take against people like Laurence Bassini, Andrew Curran and Matthew Southall because the EFL is the one responsible for holding up the rules.
Those gentlemen (and everybody else) now have to gain a consent from the EFL to be involved in football other than the other way around.
If another member club was pillaged in the way that bury was and was to go to the wall - e.g. Rochdale, Derby County or Birmingham City then the EFL is effectively dead in the water as a regulator and easy pickings for the politicians and/or those like the Premier League who want to take the game another way.
That packed room of shareholders who unanimously voted through the EFL's resolutions on Thursday night has given the EFL complete power to say no to Morton House or anyone else that might want to come to Dale in the future without our best interests at heart.
And in our case, it is obvious that you can't sell or transfer the ground and we yet don't have a training ground to sell or transfer.
There is no money to be made at Rochdale, which is the key factor that will put any nefarious party who is money driven ever setting foot in the car park of the club.
The EFL have now shut the door on that and it will be their decision on who they let in.
If Morton House kill Rochdale or Bassini kills Birmingham then it will have been on the EFL's watch as regulator.
George Bernard Shaw had it right:
"He who can does; he who cannot, teaches."
https://www.visittheusa.co.uk/
"Investors involved with Laurence Bassini’s takeover of Birmingham City got “cold feet” because they were unsure whether the deal would be approved by the EFL and FA, according to a report from the Daily Mirror."
Bassini’s potential arrival sparked criticism as the businessman, who was declared bankrupt in the past, has previously served a three-year ban from football and failed to take over Oldham , Charlton and Bolton
Shabana Mahmood, a Birmingham Labour MP, said she did not believe the sale should be sanctioned. Mahmood said: "Bassini has a history of bankruptcy, failed takeover bids, and legal action against struggling clubs."
Failed to takeover Oldham, Charlton and Bolton and now Birmingham.
He's giving Alexander Jarvis a run for his money!
George Bernard Shaw had it right:
"He who can does; he who cannot, teaches."
https://www.visittheusa.co.uk/
Is Bassini all there? He reminds me of Southall, who promised things at Charlton and how he would transform the Dale, if he took control, but it was all 100% BS and I get the same impression from Bassini.
These people should not be allowed near a football club, and I am slightly confused. In an earlier interview he implied he was borrowing the money to buy and invest in the club. However now he seems to be putting in his own money into Birmingham, why did he need to have originally to borrow the money, if he so rich, in the first place?
Simon is right the man is a buffoon, we must now see how the saga develops, if I was a Birmingham fan, I would be worried.
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BIRMINGHAM CITY: Is Matthew Southall working with Laurence Bassini again? on 22:05 - Jul 8 with 6965 views
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