by Lower West »
24 Aug 2024 11:47
Ascotexgunner I thought someone told me on Saturday that both parties had agreed the sale but Couhig wernt happy about the amount of money the EFL wanted for some sort of "bond" that had to be paid. Though that could be b*ll*ocks, but then again the ball is in the EFLs court for sign off isn't it?
New owners themselves need to pass the relevant tests of which they are 3.
Owners’ and Directors’ Test, an objective test where prospective owners and directors have to evidence the fact they are not subject to any disqualifying events. The disqualifying events are clear and set out in the Regulations.
Future Financial Information (FFI) to demonstrate how the Club will operate over the period ahead, from which any additional cash requirements to support the running of the Club can be identified.
Source and Sufficiency of Funding which will underpin the purchase and future operations. Or in simple terms, how much money they have and where it has come from.
While it is the League’s policy not to comment on change of control matters, it reserves the right to explain processes and clarify matters in respect of misreporting or misrepresentation.
Similarly, the League is unable to provide a timescale for each prospective change of control.
Ultimately, each acquisition of control will be unique with differing circumstances each time. Some will be more straight-forward while others may take longer due to increased complexity – for example the number of investors, structure, origin of investment and a range of factors may impact the process timeline.