CONFRIMED: Latest rumours Confrimed as Unconfrimed

[YorkshireRoyal99]

yeah we all know the story behind storey, if he's less than 25% shareholder he doesn't need to do a directors test so all this mumbo jumbo is irrelevant until the share structure is announced

In the Owners and Directors test, are they essentially just checking proof of funds? Or is there more to it these days.

Proof of funds to buy and where those funds are from
Proof of funds to run the club and where those are from
Any factors that would disqualify you, such as an unspent conviction for fraud or being barred from being a director in the UK.

So point 3 would rule him out then in this case?

[Sanguine]

Old favourite Huang Kad has said it’s happening. Storey minority share holder and threw some other names in as well

Edit the other names are red bird people.

His Tweet reads (reproduced unedited):

Hi readings fans.takeover is happening good. William storey minority shareholder and not have director test. Gerry Cardinale, David Castelblanco and Pravin Manglani will be the majority shareholders. Due dilligence has been done funds are proven. Efl approval happening #readingfc

Cardinale is the founder of Red Bird. Castelblanco worked at Goldman Sachs with him for 20 years. Manglani heads the 'tactical opportunities' division at Red Bird, not that that should strike fear into the average football fan.

[Brogue]

Old favourite Huang Kad has said it’s happening. Storey minority share holder and threw some other names in as well

Edit the other names are red bird people.

His Tweet reads (reproduced unedited):

Hi readings fans.takeover is happening good. William storey minority shareholder and not have director test. Gerry Cardinale, David Castelblanco and Pravin Manglani will be the majority shareholders. Due dilligence has been done funds are proven. Efl approval happening #readingfc

Cardinale is the founder of Red Bird. Castelblanco worked at Goldman Sachs with him for 20 years. Manglani heads the 'tactical opportunities' division at Red Bird, not that that should strike fear into the average football fan.

That’s the thing with this Huang guy. He’s always very specific with his news. Most of these wind up merchants on Twitter are usually very vague.

[Stranded]

If the Red Bird guys are involved then I am more comfortable with it, though why they would use Storey unless they know him and are happy for him to just be the man on the ground but give him little actual power to make any decisions.

[Sutekh]

Old favourite Huang Kad has said it’s happening. Storey minority share holder and threw some other names in as well

Edit the other names are red bird people.

His Tweet reads (reproduced unedited):

Hi readings fans.takeover is happening good. William storey minority shareholder and not have director test. Gerry Cardinale, David Castelblanco and Pravin Manglani will be the majority shareholders. Due dilligence has been done funds are proven. Efl approval happening #readingfc

Cardinale is the founder of Red Bird. Castelblanco worked at Goldman Sachs with him for 20 years. Manglani heads the 'tactical opportunities' division at Red Bird, not that that should strike fear into the average football fan.

So it would appear that the new owners of Reading Football Club are RedBird Capital Partners and NOT William Storey though he is being put up as the chairman/PR mouthpiece for RedBird (presumably because he actively wants to be involved in running a football club and happens to be known to Dai and around the place currently). As a result monies would be provided and decisions would be made by RedBird not Mr Storey.

Actually happy if that was the arrangement, RedBird were looking to invest in Liverpool earlier this year so must be really desperate to want to add a football club to their portfolio.

[YorkshireRoyal99]

Are Red Bird the one's who only own AC Milan at the moment? No other clubs or?

[Stranded]

His Tweet reads (reproduced unedited):

Cardinale is the founder of Red Bird. Castelblanco worked at Goldman Sachs with him for 20 years. Manglani heads the 'tactical opportunities' division at Red Bird, not that that should strike fear into the average football fan.

That’s the thing with this Huang guy. He’s always very specific with his news. Most of these wind up merchants on Twitter are usually very vague.

His timeline is pretty sparse but the posts there are accurate and ahead of announcements. Although, I can't see what he may have deleted.

Time will tell.

[Wycombe Royal]

RedBird were looking to invest in Liverpool earlier this year so must be really desperate to want to add a football club to their portfolio.

They already own AC Milan and Toulouse, so they must want to get a foothold in UK football as well.

I believe they also hold a 10% stake in Fenway Sports Group who own Liverpool.

[Sutekh]

If it was all done and dusted though wouldn't a Press Conference have been announced?

[NathStPaul]

If it was all done and dusted wouldn't a Press Conference have been announced?

It has been.

[Whore Jackie]

Are Red Bird the one's who only own AC Milan at the moment? No other clubs or?

11% of Liverpool
85% of Toulouse

[Hound]

Red bird would be the preferred choice from what we’ve seen so far

Obvs Storey is a clown but maybe needs to bullshit merchant to get through to Dai - who knows

It certainly makes it more palatable

[Stranded]

If it was all done and dusted wouldn't a Press Conference have been announced?

It has been.

When? Where?

[Sanguine]

Are Red Bird the one's who only own AC Milan at the moment? No other clubs or?

I won't get too excited about this until it is all ratified, but this is pretty solid stuff if indeed RedBird are getting involved. They own AC Milan and bought a 10% stake in FSG a couple of years ago, so in essence are minority shareholders at Liverpool. These are their biggest brands, but they have also invested heavily in a number of sports tech firm - fantasy gaming, entertainment venues similar to TopGolf, content creation for US sports teams.

In fact I can't for the life of me understand why they need William Storey involved much past the initial relationship with Dai.

[stealthpapes]

They didn't have enough money to get us consistently competing for promotion. Perhaps if expectations were more realistic they could have got us onto sustainable footing as a mid table club, with an outside chance of making the play offs.

Pretty sure they bailed when they realised they couldn't really afford to run a football club.

And when they had secured the hotel and the land around the stadium. But they sent a dotty old lady, who wrote a shit song, to speak to Andrew Peach on the radio every few weeks, so they were alright compared to Zingarevich and Dai.

Which is one of the key things that hamstrings us in so many ways now. They were asset strippers. Shit ones, but that was still their plan.

[NathStPaul]

If it was all done and dusted wouldn't a Press Conference have been announced?

It has been.

When? Where?

Yes.

[Orion1871]

Kevin Girdler wrote us a banging theme song.

Would you?

Absolutely

[WestYorksRoyal]

Cardinale is the founder of Red Bird. Castelblanco worked at Goldman Sachs with him for 20 years. Manglani heads the 'tactical opportunities' division at Red Bird, not that that should strike fear into the average football fan.

That’s the thing with this Huang guy. He’s always very specific with his news. Most of these wind up merchants on Twitter are usually very vague.

His timeline is pretty sparse but the posts there are accurate and ahead of announcements. Although, I can't see what he may have deleted.

Time will tell.

All his previous tweets are from the Thai era. Given they're stuck minority shareholders, it's feasible that they are involved in this process too, hence his knowledge.

[Hound]

That’s the thing with this Huang guy. He’s always very specific with his news. Most of these wind up merchants on Twitter are usually very vague.

His timeline is pretty sparse but the posts there are accurate and ahead of announcements. Although, I can't see what he may have deleted.

Time will tell.

All his previous tweets are from the Thai era. Given they're stuck minority shareholders, it's feasible that they are involved in this process too, hence his knowledge.

Lolz if his info is correct

Looking through tweet history it veers from spot on to wildly incorrect

[WestYorksRoyal]

If it is true, I will read a lot into any opening statement from the new owners. "I want to make this club sustainable and competitive again" = good. "I want to get this club back to the Premier League where it belongs" = more of the same.