Couple of Interesting Articles on Chien Lee and Paul Conway...

Discussion in 'Bulletin Board' started by Stephen Dawson, Feb 10, 2022.

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  1. Stephen Dawson

    Stephen Dawson Well-Known Member

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    #1 Stephen Dawson, Feb 10, 2022
    Have been posted on Tykes Mad by East Stand Red. The one about Paul Conway sheds more light on what they might be trying to do.

    If I'm correct he wants to sell stakes in the clubs to the highest bidders. Whoever, they might be.

    As for Chien Lee. The article concerning him puts them in a better light. Chien Lee wants to achieve success in the opposite way to Man City. Doesn't care how long it takes. In it for the kudos.

    Strikes me as the two want opposite things.
     
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  2. Mr Badger

    Mr Badger Well-Known Member

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    #2 Mr Badger, Feb 10, 2022
    I like my steak medium rare, onions and a few nice chips.
     
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  3. Marlon

    Marlon Well-Known Member

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    #3 Marlon, Feb 10, 2022
    What baffles me is apparently the EFL require proof of funding amongst other criteria from prospective new owners before they sanction the sale.
    Surely the potential owners didn’t inform the EFL they’ll be buying out of the Clubs funds and the EFL said ok ?
    I don’t know how it works but it sounds bizarre to me and if it is the case the EFLs sssurances aren’t worth the paper it’s written on .
     
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  4. Stephen Dawson

    Stephen Dawson Well-Known Member

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    #4 Stephen Dawson, Feb 10, 2022
    I agree. I think Conway is angling towards offering investment opportunities on the clubs but still having a controlling stake so that he would be having his cake and eating it. He'd have season ticket sales plus the charitable investments. My query is what would these investors be getting for their money? Fc uk all as it stands.
     
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  5. onemickybutler

    onemickybutler Well-Known Member

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    #5 onemickybutler, Feb 10, 2022
    Out of interest can these articles be shared on here?
     
  6. TitusMagee

    TitusMagee Well-Known Member

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    #6 TitusMagee, Feb 10, 2022
    I think it is fair to say that the EFL's fit and proper person's test is unfit for purpose and has been for a number of years. There are plenty of examples for them to have learnt from yet the same mistakes are repeated.
     
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  7. Le Gessien

    Le Gessien Well-Known Member

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    #7 Le Gessien, Feb 10, 2022
    I read the article about CPAQ. It aims to raise $75 million to spend on buying "sports businesses". This method of raising money has been popular for a couple of years now, at least. The companies set up are "SPACs" i.e. Special Purpose Acquisition Companies. Clearly "Counter Press" refers to a style of play that the acquisition targets will be expected to play. It seems he wants to extend his involvement in more sports businesses. I wouldn't expect any of this "new" money to find it's way into BFC.
     
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  8. Tyk

    Tyketical Masterstroke Well-Known Member

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    #8 Tyketical Masterstroke, Feb 10, 2022
    By selling his chocolate dildos?
     
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  9. KamikazeCo-Pilot

    KamikazeCo-Pilot Well-Known Member

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    #9 KamikazeCo-Pilot, Feb 10, 2022
    That's a Stephen Dawsonesque post
     
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  10. Jay

    Jay Well-Known Member

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    #10 Jay, Feb 10, 2022
    To be fair, he's doing a cracking job of that.

    Man City are top of the table, Barnsley are bottom of the table.
    Man City win lots of games, Barnsley lose lots of games.
    Man City score lots of goals, Barnsley don't score any goals.
    Man City are very, very good, Barnsley are very, very bad.

    If opposite to Man City was what he was shooting at, he couldn't have been more accurate.
     
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  11. Durkar Red

    Durkar Red Well-Known Member

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    #11 Durkar Red, Feb 10, 2022
    I think I’m right in saying that the Glazers despite being billionaires didn’t spend a penny of their own money buying Man Utd
     
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  12. Stephen Dawson

    Stephen Dawson Well-Known Member

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    #12 Stephen Dawson, Feb 10, 2022
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  13. lk3

    lk311 Well-Known Member

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    #13 lk311, Feb 10, 2022
    Not sure if they put anything down, but it was announced last year when one of the Sons sold some shares that they had taken out more money than they borrowed to buy the club already.
     
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  14. lk3

    lk311 Well-Known Member

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    #14 lk311, Feb 10, 2022
    I get the impression that the EFL don’t care how it’s paid but just look to see the owner has enough funds if needed to run the club day to day
     
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  15. Redhelen

    Redhelen Well-Known Member

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    #15 Redhelen, Feb 10, 2022
    Or into any of the businesses they own.
     
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  16. ryc

    rycalshaw Well-Known Member

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    #16 rycalshaw, Feb 10, 2022
    Ahh the heady days when we used to play counter press as apposed to no tactics whatsoever...
     
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  17. Bol

    BoltonMascot Well-Known Member

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    #17 BoltonMascot, Feb 10, 2022
    Man City play in blue, Barnsley play in red
     
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  18. Tyke_67

    Tyke_67 Well-Known Member

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    #18 Tyke_67, Feb 10, 2022
    Man City are good, we are ****
     
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  19. wolvestyke

    wolvestyke Well-Known Member

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    #19 wolvestyke, Feb 10, 2022
    Does proof of funding refer to having the money to buy the club or having sufficient to be able to operate as a going concern and fulfil fixtures for a period? I would guess the overall purchase price, instalment arrangements etc is a matter for the seller and buyer?
    I don't think there's a rule which prevents buyers from effectively using club funds to complete the purchase and as another poster has commented, I think that's exactly what the Glazers did at Manchester United. It's not illegal or against PL and EFL rules as far as I'm aware but it bl**dy well should be imo to stop more unscrupulous individuals purchasing clubs at reduced / little personal cost. I've said this before so apologies if I'm repeating myself but it's capitalism at its worst, a money creation exercise. If allowed to pay the remaining instalments from club funds, most if not all of what they receive when they eventually sell it will be pure profit rather than a return of what they've invested. They're seeking a return on investment without actually investing anything.*

    * I know they did fund upfront payments but they may/could even withdraw that from the club as dividends at some point should they choose to. The owners assured us they weren't taking a penny out, the accounts suggest differently. Based on this, it's not unreasonable to assume they'll take more out in the future.
     
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  20. pon

    pontyender Well-Known Member

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    #20 pontyender, Feb 10, 2022
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