Will Today be the day for the takeover to go through ?

[WonderGoals]

ME
General consensus is that it’s going through but longer it takes, the more the uncertainty grows.

Neil Wright
I appreciate that – it’s as close as it’s ever been

Me
I can appreciate you can’t give a definite answer as the parties involved are under an NDA until it’s done and dusted. The waiting is killing me though as it is other people. There any possibility it could be done before we play Yeovil ?

Neil Wright
I’m speaking to PS tomorrow

That was sent yesterday so it’s either positive news and he’s telling him it’s done or it’s fell through. I hope it’s the first scenario.

[Iron-awe]

Good news/bad news time.
PS. ” I’ve got good news and bad news “.
Neil. ” What’s the good news”.
PS. ” Scunthorpe will have a new housing estate in the next two years “.
Neil. ” Cheers, I know the bad news thanks “.

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alcazar

[Deereyme66]

‘Neil Wright
I’m speaking to PS tomorrow

That was sent yesterday so it’s either positive news and he’s telling him it’s done or it’s fell through. I hope it’s the first scenario.’

Or it may just mean he’s speaking to PS?

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IronIronIron, Siderite

[cassidystash]

One of the few that still is?

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bartonscorpion, alcazar, North Lincolnshire Irons

[WonderGoals]

Deereyme66 wrote:

Or it may just mean he’s speaking to PS?

Well since the last interview he gave he hasn’t said a word about the takeover so if he’s coming out now and choosing to say something, it must be an update on the takeover, surely !

[MK Iron]

Deereyme66 wrote:

‘Neil Wright
I’m speaking to PS tomorrow

From what I know of PS Neil will mainly be listening.

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alcazar, Sharp_Shooter24

[billpuntonsghost]

…same as it ever was.

[Iron-awe]

billpuntonsghost wrote:

…same as it ever was.

Love a bit of Talking Heads bill, nice one.

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billpuntonsghost

[Lord Kitchener]

Iron-awe wrote:

billpuntonsghost wrote:

…same as it ever was.

Love a bit of Talking Heads bill, nice one.

Hopefully we are not on a Road to Nowhere!!

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billpuntonsghost, Iron-awe

[Northumbiron]

cassidystash wrote:

One of the few that still is?

😂😂😂

“Neil Wright
I appreciate that – it’s as close as it’s ever been”

So as close as it was two years ago?

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alcazar, Sharp_Shooter24, Iron-awe

[ironfromafar]

SO THERE IS A CHANCE …. Loyd to Mary SWANson

[m181roundabout]

Might as well do the announcement pre-match at GP on the tannoy. That’d get the crowd going.

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alcazar

[WonderGoals]

Still going on behind the scenes but it’s dragging on a bit !

[ironfromafar]

WonderGoals wrote:

Still going on behind the scenes but it’s dragging on a bit !

Indeed rather worrying it seems to be doing just that .. what a boost it would be . have been to announce the deal before the first game of the season.. sadly looking unlikely now though…or is a pre kick off big unveiling planned ????

Main thing is it happens n doesnt fall through.

[Westyorksiron]

Buying a house can take time when solicitors are involved, suspect a football club is more complex. I expect this to take months rather than weeks. Hope I’m wrong.

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Deereyme66

[cassidystash]

But surely the Fit & Proper Persons test would be one of tha last things needed for completion. That wouldn’t be done in the early stages of the process would it? If they’re waiting for the pre-match warm up to make the announcement then they could be missing out on a few hundred supporters that would turn up if new owners were revealed today.

[samways1]

I would think you do a fit & proper person test fairly early in the process, as you wouldn’t want to go through months of effort just to find they fail?

But I genuinely don’t know.

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Deereyme66, Northumbiron

[WonderGoals]

More new regarding take over from Neil Wright….

ME….

Not going to lie, I thought it was going to go through by now. 48 hours now has turned into a week since the directors test was passed. I hope we aren’t going to go through what Grimsby did when they were stuck with Fenty for years.

NEIL…..

He’s assured the Board we’ll get an update after the weekend sadly.

ME…

Hopefully it’s good news. The drawn out time has gotten everybody a bit twitchy !

NEIL….

We’re all twitchy and I’d hoped that we’d go in to tomorrow with new owners.

So still very much on but not close to getting done yet. It appears it’s not as simplistic as Swann made it out to be during the interview he gave. The club assets, ground e.t.c were signed over to Coolsilk so it may be a lot more complicated getting it all moved back over to the club.

Not sure but still going on behind the scenes. Don’t expect an on pitch announcement because you’ll be disappointed.

[Deereyme66]

Not sure he made it sound simplistic. He said something like it could be done within 48 hours but then again much longer. I did say as far as I’m aware the fit and proper test is early stages, there may well be due diligence, terms and purchase contracts to negotiate and agree on. Based on HRH’s track record of dealing with other parties, it could take some time.

[WonderGoals]

That fit persons test had definitely been passed but obviously a lot more to it. Swann when he gave that interview did give the impression that once it was passed that it would be straight forward but obviously not.

Due diligence goes hand in hand with the fit and proper persons test and that’s already been passed by the FA as far as I’m aware. That’s what Neil told me anyway.

I would agree about the terms and purchase contracts is probably what’s taking the time as all the clubs assets I think we’re legally coolsilks so all that’s going to need to be transferred back over to the club, via lawyers, negotiation and paperwork.

Anyway, update next week so hopefully it’s moved on a bit in terms of completion. I’ll keep everybody up to date If I squeeze anything else out of Neil.

[cassidystash]

Didn’t seem to take long for the ground to get from The Iron to Coolsilk.

[MK Iron]

There wasn’t a mortgage on it then.

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cassidystash

[WonderGoals]

MK Iron wrote:

There wasn’t a mortgage on it then.

That’s what I meant about taking time to transfer it all back over. The whole thing is intertwined with coolsilk so there will be a lot of bullshit needed to cut through probably before completion.

The mortgage coolsilk took out on the ground will need paying back so that will have to be negotiated. As I said above, hopefully we get some positive news next week.

Fingers crossed it’s moved on somewhat. The news must be fairly significant otherwise Swann wouldn’t update the board would he ?

[Deereyme66]

Sounds like a lawyers dream. Keeping those hours ticking over.

[knutsofiron]

Forgive me for a little negativity, WG, but the longer this goes on the more likely it is that it will end up being yet another empty promise (in a very long line of empty promises). I’d love to share your optimism, but can’t I’m afraid (I truly hope I’m wrong this time, I really do). I just cannot see £15 million just being given away, which in effect is what would have to happen if we were to get ownership of the ground back.
And I cannot see any consortium stumping up that sort of cash, which means that even if we get new owners they will likely be paying rent to a landlord who could cash in on the ground asset at any time and so kill the club.
There is also a mortgage to repay on top of that in addition.
I am not confident of a secure outcome at all…..but as I say, I hope I am proved wrong.

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RoamingBull, premier iron

[Iron-awe]

6 million for a fan based consortium, 8 million for another outside consortium remember, reliable source not HP sauce.

[ironfromafar]

wow is that all ?? .. im in the hat .. i thought 10 mil plus

[Awaywego]

What’s it matter anymore, if he sells he sells, we know that there’s always someone in the wings who would takeover, whether he put us in administration or tried to liquidate us, which I don’t think the government would allow if it came to the latter.

[Iron-awe]

The Government 😂😂😂😂 it can’t even run the country never mind give a shit about Scunny. FFS.

[Awaywego]

After the acceptance of the fan led review in its entirety do you really think the government would turn tail at the first crisis? I don’t, fair enough if there was no buyer out there but there is. Let’s not forget they’ve been there before for the people of Scunthorpe when Greybull walked away. Ps they also gave a non existent club a million to help them out. They are not the big bad bogey man FFS.

[Author]

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