CONFRIMED: Latest rumours Confrimed as Unconfrimed

[blythspartan]

oxf*rd me, I am going to take a positive spin on the latest takeover news. Basically, exclusivity has ended with Chiron and we have other parties along with Chiron interested in buying us and one of them could still compete the takeover without needing to have an exclusivity period.

We still have virtually the same squad of players that had playoff form after November last year. Also, we may get a windfall once Palace sell Olise and we have other money coming into the club. Plus, our wage bill has now been significantly reduced.

We are so much better off than we were this time last year so what is there to be worried about? I think being in New Plymouth has affected my usual bed wetting posts. Although I have to say that the bed wetters have been proved right. Anyway, when we’re liquidated in August you can throw this post back in my face. I hope Orion is coping well without my updates about what someone said on Twitter.

[Silver Fox]

I guess people just read what they want to read but I see that statement and see it as the process is ongoing. there's nothing to celebrate but equally no reason to jump off a cliff

[WestYorksRoyal]

I guess people just read what they want to read but I see that statement and see it as the process is ongoing. there's nothing to celebrate but equally no reason to jump off a cliff

I agree with this to an extent, but the fact this is still ongoing is damaging in the short term. It makes it harder to retain Selles and keep our team together. It may mean players are sold to tide Dai over a few more months so he doesn't default on Chiron's loan and havd to hand his shares over.

I don't agree with the existential stuff that we'll be liquidated by August, but I really enjoyed watching this team develop and was looking forward to seeing what they could achieve with stability and the right additions. That feels unlikely now, even if in the bigger picture it doesn't mean the end for us (yet).

[RoyalBlue]

This is obviously very bad news.

I wonder if any of the work undertaken as due diligence could be used by another prospective buyer, or whether they would have to go right back to the beginning? Because if it can', any takeover by a new party will not happen before the season starts.

If it's anything like the various company sales that I've been involved in there will be a data room (virtual, rather than physical nowadays). This will hold all of the key information in detail- financials, employees, assets, liabilities etc. and will be added to as any interested party works through their due diligence and raise additional questions/requests for data. Once compiled, it is obviously also available to provide to any subsequent interested parties. That being the case, I would expect the process to be quicker with any new/additional parties provided, of course, that the likes of Dai, Pang and Howe are acting in good faith.

[From Despair To Where?]

I just can't get stressed or worked up about it any more.

What will be, will be.

[Snowflake Royal]

I guess people just read what they want to read but I see that statement and see it as the process is ongoing. there's nothing to celebrate but equally no reason to jump off a cliff

If the process was progressing well, there would be no need to be talking to anyone but Chiron.

You aren't going to get a deal over the line talking to multiple parties at once without a period of exclusive negotiations first.

The fact exclusivity with chiron has ended means we're on a set back of about 2 months progress. And we have very little time left.

All info suggests we've only been paying the bills by loans from Chiron. If they're no longer in exclusivity, them buying us is less likely, which now means any alternate buyer needs to cover paying them back too. And we're relying on money from somewhere else to pay the bills. And we saw how that went last summer. ST money didn't stretch very far then.

It's not catastrophic news in that there are still negotiations ongoing. But it is very clearly bad news and a set back.

[Linden Jones' Tash]

the accounts to the end of June 2023 are due by the 30 June 2024

what happens on that date will be interesting - not so much for their content, but whether they are delayed or not.

[Green]

the accounts to the end of June 2023 are due by the 30 June 2024

what happens on that date will be interesting - not so much for their content, but whether they are delayed or not.

What will that tell us?

[stealthpapes]

that they've been delayed.

[Green]

[LUX]

or not.

[Forbury Lion]

the accounts to the end of June 2023 are due by the 30 June 2024

what happens on that date will be interesting - not so much for their content, but whether they are delayed or not.

What will that tell us?

The content could be interesting, but I imagine Liverpool University's Kieran Maguire will read them and offer a some useful comment on them before any of us can even work out how to download a copy, so we may as well just see what he has to say.

[Sutekh]

the accounts to the end of June 2023 are due by the 30 June 2024

what happens on that date will be interesting - not so much for their content, but whether they are delayed or not.

What will that tell us?

The content could be interesting, but I imagine Liverpool University's Kieran Maguire will read them and offer a some useful comment on them before any of us can even work out how to download a copy, so we may as well just see what he has to say.

Given the club is in the process of being flogged they most likely won't be there to read at the end of June.

[RoyalBlue]

What will that tell us?

The content could be interesting, but I imagine Liverpool University's Kieran Maguire will read them and offer a some useful comment on them before any of us can even work out how to download a copy, so we may as well just see what he has to say.

Given the club is in the process of being flogged they most likely won't be there to read at the end of June.

I'm unsure why that should be the case, other than due to yet further p*ss poor business management.

[Sutekh]

The content could be interesting, but I imagine Liverpool University's Kieran Maguire will read them and offer a some useful comment on them before any of us can even work out how to download a copy, so we may as well just see what he has to say.

Given the club is in the process of being flogged they most likely won't be there to read at the end of June.

I'm unsure why that should be the case, other than due to yet further p*ss poor business management.

Stranded commented a few pages ago:

I believe I read somewhere, but could be wrong, that there is a loophole when it comes to submitting accounts that is being used - I believe because there is a potential sale underway - accounts would only need to be submitted once the sale is complete.

Again may be completly wrong, but seem to recall Kieran Maguire stating something along those lines in a tweet.

[Linden Jones' Tash]

Given the club is in the process of being flogged they most likely won't be there to read at the end of June.

I'm unsure why that should be the case, other than due to yet further p*ss poor business management.

Stranded commented a few pages ago:

I believe I read somewhere, but could be wrong, that there is a loophole when it comes to submitting accounts that is being used - I believe because there is a potential sale underway - accounts would only need to be submitted once the sale is complete.

Again may be completly wrong, but seem to recall Kieran Maguire stating something along those lines in a tweet.

And presumably HMRC would require something more tangible than Nigel Howe's word that something is progressing - so it would be a sign given the skepticism around whether a sale is actually being envisaged....

In my experience (outside football), none of these processes (doing due diligence, getting lawyers to talk turkey etc.) are cost free, so you have to pay to play.

[Forbury Lion]

Given the club is in the process of being flogged they most likely won't be there to read at the end of June.

I'm unsure why that should be the case, other than due to yet further p*ss poor business management.

Stranded commented a few pages ago:

I believe I read somewhere, but could be wrong, that there is a loophole when it comes to submitting accounts that is being used - I believe because there is a potential sale underway - accounts would only need to be submitted once the sale is complete.

Again may be completly wrong, but seem to recall Kieran Maguire stating something along those lines in a tweet.

You can extend you financial year beyond 12 months.

Typically this is often done to align with a new parent companies end of year, to match the tax year or to match the calendar year, However this is in regards to the legal accounts, not the footballing accounts required for FFP etc which define when a season starts and ends, so it's more hassle than it's worth to run two sets of account to two different year ends.

[morganb]

James Earnshaw on Twitter
.

I am told that a US-Saudi consortium, who have held a long-term interest in acquiring the club, have lodged a formal bid in excess of £30m. I understand that this is the largest bid received to date. #readingfc remain in talks with multiple parties. https://www.readingchronicle.co.uk/spor ... turn-fold/

https://x.com/james_e1871/status/179939 ... Rj9SQ&s=19

[WestYorksRoyal]

What a roller coaster. I'm beyond following all the twists and turns and trying to 2nd guess what comes next. I'll enjoy the Euros and then hopefully things come together for the new season.

[RoyalBlue]

What a roller coaster. I'm beyond following all the twists and turns and trying to 2nd guess what comes next. I'll enjoy the Euros and then hopefully things come together for the new season.

That's how desperate things have become - relying on England performing well in the Euros to cheer us up from the misery surrounding our club!