CONFRIMED: Takeover collapsed; Back to square one

[Mid Sussex Royal]

Couhig & co in town centre, pics on Twitter. Becoming frustrated and no further forward, but are determined to see it through by the sound of things.

[windermereROYAL]

Couhig & co in town centre, pics on Twitter. Becoming frustrated and no further forward, but are determined to see it through by the sound of things.

Got a link?

[Mid Sussex Royal]

Couhig & co in town centre, pics on Twitter. Becoming frustrated and no further forward, but are determined to see it through by the sound of things.

Got a link?

Sorry read it earlier not logged on now, but I think James Earnshaw retweeted it and its on the #readingfc hashtag.

[windermereROYAL]

Couhig & co in town centre, pics on Twitter. Becoming frustrated and no further forward, but are determined to see it through by the sound of things.

Got a link?

Sorry read it earlier not logged on now, but I think James Earnshaw retweeted it and its on the #readingfc hashtag.

Found it, the guy the spoke to them got the impression they were determined to see it through. they didn`t actually say it.

https://x.com/Marlin2811/status/1830964089084092786

[Snowflake Royal]

All depends on what is set out in the HR process. I agree its tosh but he'll be suing as something wasn't done quite right, or he (or his lawyers) believe that.

More likely trying to save his (future) career, rather than win compensation.

This thread is about the takeover, there`s a separate one for the Bowen sacking, I check every new post to see updates not this rubbish.

If you want updates and not rubbish, you don't want this thread. You want the OS, that's where an actual announcement will be when there's something concrete to know.

[Forbury Lion]

1871 podcast (yes it's back) had a podcast appear on my list this morning titled "Ownership Update"...... listened to a few minutes up to the point they said "this shouldn't take long as we don't know anything", then sacked it off for now to listen to the Price of Football pod.

I do wonder how I'm going to hear the official takeover confimred news first.... might even be on page 256 of this thread

[WestYorksRoyal]

Twitter is going absolutely bonkers. Dai is playing us all for fools, there will be no takeover, while SJM, Howe and everyone else imaginable is in the firing line.

Let's just imagine this is true and Dai doesn't sell. He needs to find several million pounds to pay back the secured loans or Couhig/Chiron can place us into administration and probably buy us for £1. And Dai has shown over the past 18 months that he either can't or won't direct such money at the club. I have no idea what the hold up is, but with all the secured debt it's impossible to believe that it's all just a ruse.

[Mid Sussex Royal]

Twitter is going absolutely bonkers. Dai is playing us all for fools, there will be no takeover, while SJM, Howe and everyone else imaginable is in the firing line.

Let's just imagine this is true and Dai doesn't sell. He needs to find several million pounds to pay back the secured loans or Couhig/Chiron can place us into administration and probably buy us for £1. And Dai has shown over the past 18 months that he either can't or won't direct such money at the club. I have no idea what the hold up is, but with all the secured debt it's impossible to believe that it's all just a ruse.

Its being driven by some guy who looks like he had some initial discussions with Dai last year and is now forming his own opinion, based on those discussions, on the current state of affairs. Need to keep in mind this is his view and not in the least factual.

[Clyde1998]

Twitter is going absolutely bonkers. Dai is playing us all for fools, there will be no takeover, while SJM, Howe and everyone else imaginable is in the firing line.

Let's just imagine this is true and Dai doesn't sell. He needs to find several million pounds to pay back the secured loans or Couhig/Chiron can place us into administration and probably buy us for £1. And Dai has shown over the past 18 months that he either can't or won't direct such money at the club. I have no idea what the hold up is, but with all the secured debt it's impossible to believe that it's all just a ruse.

People are just jumping on anything that confirms their preconceived notions about the whole thing. The lack of any actual evidence for the claim (or poor evidence) is irrelevant.

There's simply no critical thinking. The best example of this is when the Twitter discourse complains about lack of club statements about the issue and then immediately complain about the statement when one is put out simply because it's not providing exactly what they want to hear. Obviously the club can't say everything and have to stay at a surface level because that would breach NDAs and the club's media person is not going to do anything to put the takeover in jeopardy (and probably hasn't been told what's going on specifically).

As you're point makes clear, there's no logical reason why anyone would go this far without any intention to sell the club given how easily Chiron could put the club into administration and buy the club for almost nothing if Dai decides to pull out now.

I'm sticking with the club's last statement being correct - there's been a hold up (or things aren't progressing as quickly as expected) due to the complexities of having to sort of legal work across different jurisdictions.

[Pepe the Horseman]

Twitter is going absolutely bonkers. Dai is playing us all for fools, there will be no takeover, while SJM, Howe and everyone else imaginable is in the firing line.

Let's just imagine this is true and Dai doesn't sell. He needs to find several million pounds to pay back the secured loans or Couhig/Chiron can place us into administration and probably buy us for £1. And Dai has shown over the past 18 months that he either can't or won't direct such money at the club. I have no idea what the hold up is, but with all the secured debt it's impossible to believe that it's all just a ruse.

Its being driven by some guy who looks like he had some initial discussions with Dai last year and is now forming his own opinion, based on those discussions, on the current state of affairs. Need to keep in mind this is his view and not in the least factual.

Didn't he turn out to be the German William Storey anyway?

[Ascotexgunner]

Twitter is going absolutely bonkers. Dai is playing us all for fools, there will be no takeover, while SJM, Howe and everyone else imaginable is in the firing line.

Let's just imagine this is true and Dai doesn't sell. He needs to find several million pounds to pay back the secured loans or Couhig/Chiron can place us into administration and probably buy us for £1. And Dai has shown over the past 18 months that he either can't or won't direct such money at the club. I have no idea what the hold up is, but with all the secured debt it's impossible to believe that it's all just a ruse.

Its being driven by some guy who looks like he had some initial discussions with Dai last year and is now forming his own opinion, based on those discussions, on the current state of affairs. Need to keep in mind this is his view and not in the least factual.

Didn't he turn out to be the German William Storey anyway?

Still never seen Storey's energy drink.

[Elm Park Kid]

So, my understanding is that we've gone backwards in the last couple of weeks. Couhig not happy with the original amount after uncovering more financial mess and wants a lower sale figure. He's still very much acting as the new owner in waiting though and is (so i've been told) making the key decisions.

Seems hard to imagine how Couhig doesn't, eventually, end up as owner some way or another.

[Pepe the Horseman]

So, my understanding is that we've gone backwards in the last couple of weeks. Couhig not happy with the original amount after uncovering more financial mess and wants a lower sale figure. He's still very much acting as the new owner in waiting though and is (so i've been told) making the key decisions.

Seems hard to imagine how Couhig doesn't, eventually, end up as owner some way or another.

So it's Couhig's fault? Think everyone owes Dai an apology.

[Stranded]

So, my understanding is that we've gone backwards in the last couple of weeks. Couhig not happy with the original amount after uncovering more financial mess and wants a lower sale figure. He's still very much acting as the new owner in waiting though and is (so i've been told) making the key decisions.

Seems hard to imagine how Couhig doesn't, eventually, end up as owner some way or another.

Would seem fair enough but dealing in published legal facts, I think its fair to say we know:

Chiron have a charge over Bearwood and all the clubs shares
Couhig is looking to buy via a company where Chiron own 100% of the shares.

So I'm not sure there is a move for Dai that either a) doesn't involve financing the club and/or paying back all loans or b) seeing the club placed into admin by Chiron as a secured creditor and them either just getting the shares/training ground as a result of default or Dai getting a hell of a lot less cash than he is currently being offered.

Happy to be corrected here but this seems to be the picture based on what is Companies House as of now.

[blythspartan]

So, my understanding is that we've gone backwards in the last couple of weeks. Couhig not happy with the original amount after uncovering more financial mess and wants a lower sale figure. He's still very much acting as the new owner in waiting though and is (so i've been told) making the key decisions.

Seems hard to imagine how Couhig doesn't, eventually, end up as owner some way or another.

Would seem fair enough but dealing in published legal facts, I think its fair to say we know:

Chiron have a charge over Bearwood and all the clubs shares
Couhig is looking to buy via a company where Chiron own 100% of the shares.

So I'm not sure there is a move for Dai that either a) doesn't involve financing the club and/or paying back all loans or b) seeing the club placed into admin by Chiron as a secured creditor and them either just getting the shares/training ground as a result of default or Dai getting a hell of a lot less cash than he is currently being offered.

Happy to be corrected here but this seems to be the picture based on what is Companies House as of now.

It does sound like Chiron/Couhig have Dai over a barrel.

As much as I don’t think Dai cares two hoots about the club I was starting to think that maybe he’s stringing this out in the hope that he’ll get access to his funds again soon. However, it sounds like Couhig is playing hardball and wants it all for a cheaper price.

[WestYorksRoyal]

EPK has a decent record, but I don't think any "ITK" knows the full story; they know little corridors of truth like the blind men and the elephant. Eddie Wallbank on Twitter also has a strong track record but keeps calling things wrong.

It does feel like Couhig and Trosclair going big a couple of weeks ago was a big error, especially if there was more to uncover through due diligence.

[Sutekh]

1871 podcast (yes it's back) had a podcast appear on my list this morning titled "Ownership Update"...... listened to a few minutes up to the point they said "this shouldn't take long as we don't know anything", then sacked it off for now to listen to the Price of Football pod.

I do wonder how I'm going to hear the official takeover confimred news first.... might even be on page 256 of this thread

Won't be in our lifetimes.

[blythspartan]

EPK has a decent record, but I don't think any "ITK" knows the full story; they know little corridors of truth like the blind men and the elephant. Eddie Wallbank on Twitter also has a strong track record but keeps calling things wrong.

It does feel like Couhig and Trosclair going big a couple of weeks ago was a big error, especially if there was more to uncover through due diligence.

It does sound like it will eventually happen though one way or another.

[Sutekh]

Twitter is going absolutely bonkers. Dai is playing us all for fools, there will be no takeover, while SJM, Howe and everyone else imaginable is in the firing line.

Let's just imagine this is true and Dai doesn't sell. He needs to find several million pounds to pay back the secured loans or Couhig/Chiron can place us into administration and probably buy us for £1. And Dai has shown over the past 18 months that he either can't or won't direct such money at the club. I have no idea what the hold up is, but with all the secured debt it's impossible to believe that it's all just a ruse.

We all know that tw@tter is a pile of festering doggy doo doo most of the time so why do people get worked up over what someone might say. Generally, there are about 3/4 people on tw@tter that might say something actually factual about the deal; e.g. Rob Couhig himself, James Earnshaw or Eddie Wallbank so if it doesn't come from their accounts then it's not worth anyone's time worrying about it.

[Snowflake Royal]

Barring something catastrophic jumping out of the woodwork, it's seemingly been a done deal for over a month.

Just final wranglings as little problems pop to the surface now Couhig and co are basically running the club, and Dai's general inability to be contactable and do anything professional.

Couhig and Chiron are millions deep at this point, and just a formality from a significant turnaround in our fortunes.