CONFRIMED: Takeover collapsed; Back to square one

[traff]

Howe may as well have come out, shrugged his shoulders then slunk back to the bar.

[Elm Park Kid]

What if Dai has somehow found a new funding source and is legitimately committed to covering our costs now?

I guess the evidence of that works be if he complied with the EFL demands and paid his fine.

Is that funding sourced through courier pigs flying snowballs through hell?

Howe specifically said that Couhig was paid his loan back by 'the Yongge family'.

[Snowflake Royal]

What if Dai has somehow found a new funding source and is legitimately committed to covering our costs now?

I guess the evidence of that works be if he complied with the EFL demands and paid his fine.

Is that funding sourced through courier pigs flying snowballs through hell?

Howe specifically said that Couhig was paid his loan back by 'the Yongge family'.

So probably not Dai. And even if so, could be from a loan, or just his personal wealth so he keeps control to ignore the problem til we die, rather than giving someone else a route to administration and forcing him out.

It certainly seems to me that it's all about ego, power dynamics and control with Dai, his terms or no terms.

[Mid Sussex Royal]

The main take is that there is funding "for a couple of months" (Earnshaw interview) NOT until a sale as suggested by the Club yesterday.

They'll probably limp on until the window opens again but there's no back up now if we sell 2 or 3.

[Lower West]

What if Dai has somehow found a new funding source and is legitimately committed to covering our costs now?

I guess the evidence of that works be if he complied with the EFL demands and paid his fine.

I think that's entirely unlikely. Nothing has indicated he has any serious interests or reliability as far as ownership goes. I don't see why he'd suddenly now want to be involved and to fund the club. I think there was also rumours of issues with China freezing some of his funds but I don't know how true that is.

Factually the business empire that Dai and sister built (control being passed to Dai's son ) has recently been delisted from the Hong Kong stock exchange. As the company has failed to file it's annual accounts for the year ended 31st December 2022. The salient events in the public domain are summarised below.

On the 28th October 2022 the company filed an announcement that two litigation claims had been filed against Dai Yonnge (as a controlling shareholder) and 5 of the Group's subsidiary companies by the People's Bank of China. The total sum involved was £132 million (using the exchange rate at the time) . The loans being overdue for repayment. The compay's shares being suspended. Allowing no further trade to take place.

12th December 2022. Forensic accountants called in to investigate the circumstances surrounding the guarantees and the loans.

18th August 2023. Forensic accountants report published. Coverage of investigation extended to 15 subsidiary companies of the group. Complete review covering financial years 2019, 2020, 2021 and 9 months of 2022. Revealed that guarantees were provided in 2019 but were never property documented, minuted, signed off officially nor disclosed during the company's audits. Dai's involvement and another company official ( who passed away in 2020) were complicit in the matter.

29th December 2023. Company announced that various subsidiary onshore bank accounts had been frozen.

8th January 2024. Company announced that the Higher People’s Court of Liaoning Province had found judgement for Relevant Bank Loans borrowed and guaranteed by (i) the Relevant Third Parties; (ii) Mr. Dai and companies controlled by him, and alleged to have been guaranteed by the Relevant Subsidiaries. In the sum of 1,175 million Chinese yuan renminbi plus interest and default interest.

In the interests of Dai's creditors to keep the club ticking over. In order to realise full value from the property assets. Be no interest in frittering money away.

[SouthDownsRoyal]

Howe said dai wants to sell to someone who can take the club forward

How caring of dai what a lovely man he is just wants the best for the club

[Felt91]

Howe mentions that all the information needed for a new buyer is in a “package” with the lawyers so if a new buyer is found the process can be sped up. Howe also said he couldn’t say much due to a current exclusivity period yet Dellor said couhigs period ran out the other day. Hopefully someone with money has been keeping an eye on developments and pounces.

[WestYorksRoyal]

Howe said dai wants to sell to someone who can take the club forward

How caring of dai what a lovely man he is just wants the best for the club

I think he's delude, not a liar. He genuinely believes that when it's visible from space that it's not true.

[Snowflake Royal]

Theory: every time Dai runs out of ground to keep trying to argue up the price in negotiations, he gets his mate Kia to bring in a pal to pretend to put in a bigger offer.

Couhig told him to stick it. Now we're pretending there's a real offer when there isn’t.

[blueroyals]

Howe mentions that all the information needed for a new buyer is in a “package” with the lawyers so if a new buyer is found the process can be sped up.

He said the same thing back in May following the Storey saga

[Sutekh]

Howe said dai wants to sell to someone who can take the club forward

How caring of dai what a lovely man he is just wants the best for the club

So what was wrong with Couhig then?

[Sutekh]

Isn’t this the third time he’s pulled the plug? Wasn’t there one last winter then one late spring before this?

At what point does it start getting to where others should step in “on his behalf”?

[Sutekh]

Daniel Loitz take on it all

https://footballleagueworld.co.uk/danie ... c-turmoil/

[Clyde1998]

Isn’t this the third time he’s pulled the plug? Wasn’t there one last winter then one late spring before this?

At what point does it start getting to where others should step in “on his behalf”?

IIRC, there were multiple bidders in the winter, but only one got to the point of exclusively - which ended in late spring. I don't know if it was made public why it collapsed or who caused it to break down.

By my count, this would be the second time a serious takeover bid has fallen through, unless we count the Storey one as a serious bid.

[blueroyals]

Daniel Loitz take on it all

https://footballleagueworld.co.uk/danie ... c-turmoil/

He said on twitter he spoke privately with representatives from SBWD earlier this week to share "insights and evidence" regarding the takeover saga.

No doubt the superiority complexes at SBWD will sit on that information instead of sharing it with proles like us. They know best of course

[Orion1871]

What if Dai has somehow found a new funding source and is legitimately committed to covering our costs now?

I guess the evidence of that works be if he complied with the EFL demands and paid his fine.

What if the Olise sell on clause money has made him think about gambling on the academy making him all his money back and more by creating more stars for other clubs?

I'm not against that idea, but I suspect it won't generate him the big wins he's looking for, might just help keep things ticking along.

He's not interested in that. If he was he'd have done it in the last 6 years, rather than letting anyone with promise, bar Olise, go for peanuts or nothing at all.

[Clyde1998]

What if Dai has somehow found a new funding source and is legitimately committed to covering our costs now?

I guess the evidence of that works be if he complied with the EFL demands and paid his fine.

What if the Olise sell on clause money has made him think about gambling on the academy making him all his money back and more by creating more stars for other clubs?

I'm not against that idea, but I suspect it won't generate him the big wins he's looking for, might just help keep things ticking along.

He's not interested in that. If he was he'd have done it in the last 6 years, rather than letting anyone with promise, bar Olise, go for peanuts or nothing at all.

Olise was probably only sold because of the release clause in his contract too.

[blueroyals]

Ironically all the efforts of the fans and team have only worked to keep the status quo in place for an even longer period of suffering

If fans and sponsors had let the club fall into administration earlier this year he'd be gone

If Ruben and the players hadn't kept us up he'd be under more financial pressure to sell

[SouthDownsRoyal]

I guess to be fair to Howe he needs to keep his end up, it’s his job (?!) to oversee the sale of the club and he is dealing with an idiot MIA owner so he needs to keep up with the line that it’s all ready to go (a bit like an oven ready brexit deal ) to try and attract some other interest

But we all know (and surely he does too) that in reality there is (probably) no other interest and we’re in a dark place

Also anyone who may have some interest must surely be completely put off seeing how deals keep falling through and acquiring us from the outside looking in must seem a thankless task

[WestYorksRoyal]

I guess to be fair to Howe he needs to keep his end up, it’s his job (?!) to oversee the sale of the club and he is dealing with an idiot MIA owner so he needs to keep up with the line that it’s all ready to go (a bit like an oven ready brexit deal ) to try and attract some other interest

But we all know (and surely he does too) that in reality there is (probably) no other interest and we’re in a dark place

Also anyone who may have some interest must surely be completely put off seeing how deals keep falling through and acquiring us from the outside looking in must seem a thankless task

The nature of the egos involved in football means many will fancy themselves to be the one to break the deadlock.