OFFISHAL CONFRIMATION of the CONFIMRED

[Stranded]

Twitter now going with the "fact" this deal has been done for a couple of weeks but agreed it wouldn't be announced until after the game at the weekend.

Given the possibility of sale was only announced on Sunday and we find out it has been sold yesterday, that all makes perfect sense.

Nothing but scorn for everyone involved.

[WestYorksRoyal]

Twitter now going with the "fact" this deal has been done for a couple of weeks but agreed it wouldn't be announced until after the game at the weekend.

Given the possibility of sale was only announced on Sunday and we find out it has been sold yesterday, that all makes perfect sense.

Nothing but scorn for everyone involved.

But a shortfall was unofficially announced last week. Doesn't make sense if we new a big amount was incoming.

[Wycombe Royal]

Just taken a look at Wycombe's last accounts and to be honest this does not make sense if the purchase is over £20m as rumoured.

They only file accounts for a "small business", they have tangible fixed assets of £1.1m, £1.3 of long term creditors, and total equity of minus £1.5m.

Now I believe they have done a share allotment to correct the negative equity, but even so I don't see how they are funding this. As of June 2022 their bank had £8k in it.

[Green]

Just taken a look at Wycombe's last accounts and to be honest this does not make sense if the purchase is over £20m as rumoured.

They only file accounts for a "small business", they have tangible fixed assets of £1.1m, £1.3 of long term creditors, and total equity of minus £1.5m.

Now I believe they have done a share allotment to correct the negative equity, but even so I don't see how they are funding this. As of June 2022 their bank had £8k in it.

Like the rest of us, presumably some kind of a loan or mortgage.

[WestYorksRoyal]

SLBs are a pretty common way of securing finance at the cost of weakening the balance sheet.

As with the January sales and redundancies, it's not the deal itself that is the problem, it's the lack of confidence in the people at the top.

We're in a tricky spot and need someone to drive us to safety, but it feels like we have a drunk at the wheel or no driver at all.

Would I be happy with a SLB deal that secures our short term future while we find a buyer? It's sub optimal, but yes. Do I believe for a second this will be the outcome? No.

[Wycombe Royal]

Just taken a look at Wycombe's last accounts and to be honest this does not make sense if the purchase is over £20m as rumoured.

They only file accounts for a "small business", they have tangible fixed assets of £1.1m, £1.3 of long term creditors, and total equity of minus £1.5m.

Now I believe they have done a share allotment to correct the negative equity, but even so I don't see how they are funding this. As of June 2022 their bank had £8k in it.

Like the rest of us, presumably some kind of a loan or mortgage.

For them to have get that level of funding this deal would have to have been in the making for many many weeks. And as a loss making business, Wycombe Wanderers could not have secured that funding. More likely to be their owner under a different entity.

[Mid Sussex Royal]

Twitter now going with the "fact" this deal has been done for a couple of weeks but agreed it wouldn't be announced until after the game at the weekend.

Given the possibility of sale was only announced on Sunday and we find out it has been sold yesterday, that all makes perfect sense.

Nothing but scorn for everyone involved.

If that's the case then Howe has been blatantly lying to STAR given the main buyer has also supposedly pulled out.

[Stranded]

Just taken a look at Wycombe's last accounts and to be honest this does not make sense if the purchase is over £20m as rumoured.

They only file accounts for a "small business", they have tangible fixed assets of £1.1m, £1.3 of long term creditors, and total equity of minus £1.5m.

Now I believe they have done a share allotment to correct the negative equity, but even so I don't see how they are funding this. As of June 2022 their bank had £8k in it.

Like the rest of us, presumably some kind of a loan or mortgage.

For them to have get that level of funding this deal would have to have been in the making for many many weeks. And as a loss making business, Wycombe Wanderers could not have secured that funding. More likely to be their owner under a different entity.

Again, this is working on the assumption that WW as a club are buying it. It is more likely the owner buying it as an asset through one of his companies with a plan to let them use it for free, or minimal rent and potentially allow Reading to use some of it at market rate.

[Stranded]

Earnshaw all but confirming it now and expects a statement today from the club/Dai/Willy Wonka.

[Wycombe Royal]

Like the rest of us, presumably some kind of a loan or mortgage.

For them to have get that level of funding this deal would have to have been in the making for many many weeks. And as a loss making business, Wycombe Wanderers could not have secured that funding. More likely to be their owner under a different entity.

Again, this is working on the assumption that WW as a club are buying it. It is more likely the owner buying it as an asset through one of his companies with a plan to let them use it for free, or minimal rent and potentially allow Reading to use some of it at market rate.

That's what I said in my last sentence.

[blythspartan]

Apparently some fella with 2 bodyguards has just rocked up at the club. Maybe it’s a new owner or there’s a bigger plan afoot here. I guess time will tell.

[Greatwesternline]

No way are they paying £20m. No way in hell.

For £10m you can buy your own golf course, convert some of the holes into some football pitches and convert the club house into a fitness centre.

Does £10m buy you Castle Royle in Knowl Hill, probably.

[under the tin]

Strikes me that it's not beyond the realms of possibilty that someone involved at the club has taken a long, hard look at the operating costs the club are currently carrying, and concluded that we are currently unable to sustain the academy, as is, any longer.
Perhaps some of the potential purchasers view things in a similar manner, and take the view that, in the short term, deluxe training facilities at Bearwood doesn't help pay the bills, but matchday sponsors, hospitality, and increased ticket sales from having a sustainable relatively successful first X1 does.
Pardew was publicly very critical of the McGhee regime in that during his tenure, nearly all the money was concentrated on the first X1, which Pardew wanted to redress. Perhaps the thinking is to go back to that kind of set up until the financial contraints ease.
It could be just a case of "needs must".
I fully understand (and agree with) the counter argument that growing our own players is the better long term option: however, the paltry fees we are currently getting from the sale of player assets due to our dire financial position will not bear this out in the short term.
We have a short term crisis. Can we afford the luxury of long term solutions?

[WestYorksRoyal]

One thing to take away. Despite so many calls for patience on the sale, it appears Dai and Pang can push through a complicated transaction very quickly when they want to. So perhaps with the club they just don't want to.

[Armadillo Roadkill]

One thing to take away. Despite so many calls for patience on the sale, it appears Dai and Pang can push through a complicated transaction very quickly when they want to. So perhaps with the club they just don't want to.

This must have been planned over many months, not since last weekend. Unless the owner of WW is an idiot willing to spend millions without any due dilligence and in-depth legal advice on the contracts and deeds. Which, to be fair, judging by most football owners, he may well be.

[tmesis]

One consequence is that the asking price for the club must have dropped massively, but would anyone still want to buy?

[genome]

No way are they paying £20m. No way in hell.

For £10m you can buy your own golf course, convert some of the holes into some football pitches and convert the club house into a fitness centre.

Does £10m buy you Castle Royle in Knowl Hill, probably.

Buys you some influence with the Tories apparently.

[Sutekh]

Over the last 30 years especially, football has been ruined from top to bottom and those that should be there to protect integrity are the main causes, be they the organisations that run the competitions or owners of the clubs themselves.

[NathStPaul]

One consequence is that the asking price for the club must have dropped massively, but would anyone still want to buy?

There is nothing stopping a potential owner developing the training facility next to the stadium. If they managed to buy the club on the cheap you'd think they'd be room for investment in the existing stadium based training centre.

[Armadillo Roadkill]

One consequence is that the asking price for the club must have dropped massively, but would anyone still want to buy?

It looks like all that's left to sell is the club - i.e. it's position in the football league and its employees. With no other assets, it could be sold for the nominal £1. That leaves money to rent the SCL and find a suitable training ground.

That may be the only way to avoid liquidation of the club.