| The takeover by Gamechanger 20 Ltd - The training ground land 23:56 - Mar 2 with 161601 views | Muncher |
I’ve been doing a bit of digging at HM Land Registry today and what I have seen backs up what Phil has previously mentioned and leads me to believe the takeover is well underway and likely just waiting EFL approval.
The Playford Road site (2 parcels of land) is the subject of a priority search in respect of an intended purchase by Gamechanger 20 Ltd which was lodged on 23 February by law firm Gateley PLC out of their Birmingham office (first instruction by that client).The Bent Lane site is subject to a similar priority search in respect of part of the site only, meaning the Evans group company is retaining part of it.
A priority search is carried out by solicitors to preserve their place in the queue of potential applications for dealing, it confers a priority period of about 45 days. It is a matter of public record and available to view by professionals who have the requisite portal account. It is typically only done in the immediate anticipation of completing a transaction, it can be done slightly ahead of this, but usually is done on the day of exchange of contracts. I’m a commercial property solicitor so carry out these searches on a regular basis. My best guess (based on the timing of the search) is Evans likely entered into a conditional contract last Tuesday for the sale of the land (and club). You would not carry out such a search unless a deal including the detail had either been agreed or was extremely close. The reason such searches are not carried out lightly is because it prevents the proprietor from entering into other transactions while the priority is lodged. If a deal is not happening you should cancel the search, but all 3 remain in place.
There is no corresponding priority search in respect of the stadium lease and I would not expect there to be as the lease is owned by the club as tenant and I would expect Gamechanger 20 Ltd is acquiring the existing share capital owned by Evans.
I am happy to share screenshots if anyone would like to see, but the searches are in relation to the Playford Road site (title number SK219236 & SK203140) and the bent lane site (SK200320) they appear under the “application enquiry” tab.
EDIT:
I have now have a placed a brief article on my firm's website here discussing it:
https://prettys.co.uk/news/takeover-ipswich-town-football-club-could-be-progress
[Post edited 8 Mar 2021 12:59]
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| The takeover by Gamechanger 20 Ltd - The training ground land on 09:40 - Mar 23 with 2894 views | hype313 |
| The takeover by Gamechanger 20 Ltd - The training ground land on 09:25 - Mar 23 by Metal_Hacker |
In all fairness .........he's got little nous running an unsuccessful one |
Indeed, he reminds me of the boxing analogy when people say the Boxer is the last person to realise they are done. |  |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 10:04 - Mar 23 with 2818 views | itfcbishop |
FYI Brett Johnson just liked this. But before fans get to carried away he is more than likely just appreciative of the kind words regarding Phoenix Rising
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| The takeover by Gamechanger 20 Ltd - The training ground land on 10:09 - Mar 23 with 2780 views | kaibe |
| The takeover by Gamechanger 20 Ltd - The training ground land on 23:14 - Mar 22 by Hessleblue |
Phil, if Marcus doesn't really want to sell how have we got to a situation where priority searches are in place and the deal is with the EFL for ratification (per your previous info). Muncher has already confirmed that the priority search is highly likely to mean that Evans and Gamechanger have entered into a conditional contract for the sale of the club. Asking for EFL approval also suggests a deal was pretty much done. To get to that stage would suggest Evans had agreed a price. If it does fall through isn't it more likely a funding or ratification issue with the buyer?
We are going nowhere fast under Evans 'leadership' and he needs to sell to someone who has the expertise, time, passion and finance to revitalise our great club. I have it on good authority that Gamechanger still want to do this deal (no I'm not revealing my source!) so until we know it's off, I'm keeping the faith. |
Keep calm and keep the faith. I have every understanding that the deal will be go through. | | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 10:12 - Mar 23 with 2753 views | Metal_Hacker |
| The takeover by Gamechanger 20 Ltd - The training ground land on 10:09 - Mar 23 by kaibe |
Keep calm and keep the faith. I have every understanding that the deal will be go through. |
How do you get to this "understanding" if you don't mind me asking ? |  |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 10:22 - Mar 23 with 2713 views | JackSted |
| The takeover by Gamechanger 20 Ltd - The training ground land on 10:09 - Mar 23 by kaibe |
Keep calm and keep the faith. I have every understanding that the deal will be go through. |
Literally 3 days ago you were posting saying you're losing faith... now you're saying it's gonna go through? |  |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 10:25 - Mar 23 with 2676 views | Keno |
| The takeover by Gamechanger 20 Ltd - The training ground land on 10:22 - Mar 23 by JackSted |
Literally 3 days ago you were posting saying you're losing faith... now you're saying it's gonna go through? |
ah, hold on, he now has 'an understanding' |  |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 10:26 - Mar 23 with 2670 views | hype313 |
| The takeover by Gamechanger 20 Ltd - The training ground land on 10:25 - Mar 23 by Keno |
ah, hold on, he now has 'an understanding' |
I'm sorry, but only Phil can use that term on this platform, along with "Imminent" and "Ahem". | |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 10:28 - Mar 23 with 2654 views | Keno |
| The takeover by Gamechanger 20 Ltd - The training ground land on 10:26 - Mar 23 by hype313 |
I'm sorry, but only Phil can use that term on this platform, along with "Imminent" and "Ahem". |
its like someone is blaspheming breaking the holy sanctity of The Ham | |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 10:54 - Mar 23 with 2570 views | haynes_toe1 |
| The takeover by Gamechanger 20 Ltd - The training ground land on 10:09 - Mar 23 by kaibe |
Keep calm and keep the faith. I have every understanding that the deal will be go through. |
lol | | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 11:29 - Mar 23 with 2474 views | 70s_Legend |
| The takeover by Gamechanger 20 Ltd - The training ground land on 22:12 - Mar 22 by PhilTWTD |
Not sure Marcus really wants to sell and that being the case presumably the deal on offer isn't one he sees as acceptable. |
Not meaning to question the integrity of your reply, but that statement doesn't make much sense given you previously said the EFL had been notified of the takeover. To say that Evans doesn't really want to sell is a bizarre statement given the process and steps gone through to get to that stage.
The costs of getting a deal to the stage of being ratified by the EFL would be significant, and with Newcastle talking about taking BZI to court to recover their fee for effectively having their time waste, would Evans want to risk that on a whim?
Initially head of terms would have to be agreed, basically loosely outlining the terms of the agreement and start the due diligence process and a non-disclosure agreement. This would be part of the fee agreement. Next would be the sales purchase agreement which is a very extensive document structuring the agreed fee and clauses. The detail within that agreement would fine line everything. Once all this is done this is all done in principle then the EFL would be notified. So to go through all of that and at massive expense to then change your mind is nonsensical. Unless there is some doubt about the intentions or the funding the prospective purchasers have.
Deals can always break down at any stage, but to get to this late point in a deal and then realise you don't really want to sell would be very strange. Matt Slater who broke the news of the deal still stands by his statement that this is likely to go through, which make me wonder if Evans is leaking things in an attempt to restructure parts of the deal, or maybe the deal didn't get to EFL approval stage. I have to say if this really is Evans being indecisive then this could all backfire on him massively now fans are waiting on his exit. | | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 11:35 - Mar 23 with 2453 views | PhilTWTD |
| The takeover by Gamechanger 20 Ltd - The training ground land on 11:29 - Mar 23 by 70s_Legend |
Not meaning to question the integrity of your reply, but that statement doesn't make much sense given you previously said the EFL had been notified of the takeover. To say that Evans doesn't really want to sell is a bizarre statement given the process and steps gone through to get to that stage.
The costs of getting a deal to the stage of being ratified by the EFL would be significant, and with Newcastle talking about taking BZI to court to recover their fee for effectively having their time waste, would Evans want to risk that on a whim?
Initially head of terms would have to be agreed, basically loosely outlining the terms of the agreement and start the due diligence process and a non-disclosure agreement. This would be part of the fee agreement. Next would be the sales purchase agreement which is a very extensive document structuring the agreed fee and clauses. The detail within that agreement would fine line everything. Once all this is done this is all done in principle then the EFL would be notified. So to go through all of that and at massive expense to then change your mind is nonsensical. Unless there is some doubt about the intentions or the funding the prospective purchasers have.
Deals can always break down at any stage, but to get to this late point in a deal and then realise you don't really want to sell would be very strange. Matt Slater who broke the news of the deal still stands by his statement that this is likely to go through, which make me wonder if Evans is leaking things in an attempt to restructure parts of the deal, or maybe the deal didn't get to EFL approval stage. I have to say if this really is Evans being indecisive then this could all backfire on him massively now fans are waiting on his exit. |
I don't think it's entirely unlikely for someone to get cold feet regarding a deal which has progressed a long way, particularly if they were reluctant in the first place.
The deal as it was laid out to me initially - and I had reported that there was something in the rumours prior to the Athletic report - would have been done by now if it was happening to the timescale as it was then.
I'm not sure too much should be read into the EFL thing, I assume the required paperwork is submitted as soon as is possible so as to get the matter over the line as soon as possible. |  | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 11:52 - Mar 23 with 2379 views | 70s_Legend |
| The takeover by Gamechanger 20 Ltd - The training ground land on 11:35 - Mar 23 by PhilTWTD |
I don't think it's entirely unlikely for someone to get cold feet regarding a deal which has progressed a long way, particularly if they were reluctant in the first place.
The deal as it was laid out to me initially - and I had reported that there was something in the rumours prior to the Athletic report - would have been done by now if it was happening to the timescale as it was then.
I'm not sure too much should be read into the EFL thing, I assume the required paperwork is submitted as soon as is possible so as to get the matter over the line as soon as possible. |
The EFL appear to have taken over 10 weeks to approve Sunderland's takeover, so it wouldn't necessarily have been completed by now, especially given ours is a consortium. The EFL approval would normally (but not always) be the rubber stamping stage, so I'm starting to doubt if it ever really reached that far if Evans is wriggling. | | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 11:52 - Mar 23 with 2379 views | hype313 |
| The takeover by Gamechanger 20 Ltd - The training ground land on 11:29 - Mar 23 by 70s_Legend |
Not meaning to question the integrity of your reply, but that statement doesn't make much sense given you previously said the EFL had been notified of the takeover. To say that Evans doesn't really want to sell is a bizarre statement given the process and steps gone through to get to that stage.
The costs of getting a deal to the stage of being ratified by the EFL would be significant, and with Newcastle talking about taking BZI to court to recover their fee for effectively having their time waste, would Evans want to risk that on a whim?
Initially head of terms would have to be agreed, basically loosely outlining the terms of the agreement and start the due diligence process and a non-disclosure agreement. This would be part of the fee agreement. Next would be the sales purchase agreement which is a very extensive document structuring the agreed fee and clauses. The detail within that agreement would fine line everything. Once all this is done this is all done in principle then the EFL would be notified. So to go through all of that and at massive expense to then change your mind is nonsensical. Unless there is some doubt about the intentions or the funding the prospective purchasers have.
Deals can always break down at any stage, but to get to this late point in a deal and then realise you don't really want to sell would be very strange. Matt Slater who broke the news of the deal still stands by his statement that this is likely to go through, which make me wonder if Evans is leaking things in an attempt to restructure parts of the deal, or maybe the deal didn't get to EFL approval stage. I have to say if this really is Evans being indecisive then this could all backfire on him massively now fans are waiting on his exit. |
To be fair plenty of people pull out of house sales at the last minute, despite going through conveyancing, solicitors, searches etc.
So, the same could/has been applied here.
Not that I'm happy, would love to see this reign end. | |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 11:54 - Mar 23 with 2353 views | hype313 |
| The takeover by Gamechanger 20 Ltd - The training ground land on 11:52 - Mar 23 by 70s_Legend |
The EFL appear to have taken over 10 weeks to approve Sunderland's takeover, so it wouldn't necessarily have been completed by now, especially given ours is a consortium. The EFL approval would normally (but not always) be the rubber stamping stage, so I'm starting to doubt if it ever really reached that far if Evans is wriggling. |
I would have thought even if the EFL had ratified it, Evans could still pull and walk away. | |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 11:55 - Mar 23 with 2350 views | 70s_Legend |
| The takeover by Gamechanger 20 Ltd - The training ground land on 11:52 - Mar 23 by hype313 |
To be fair plenty of people pull out of house sales at the last minute, despite going through conveyancing, solicitors, searches etc.
So, the same could/has been applied here.
Not that I'm happy, would love to see this reign end. |
Newcastle incurred £500,000 costs in getting their takeover as far as it did. It's not a process you enter into lightly if you have any doubts about whether your really want to sell. Especially if you're as tight as Evans. | | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 11:58 - Mar 23 with 2320 views | PhilTWTD |
| The takeover by Gamechanger 20 Ltd - The training ground land on 11:52 - Mar 23 by 70s_Legend |
The EFL appear to have taken over 10 weeks to approve Sunderland's takeover, so it wouldn't necessarily have been completed by now, especially given ours is a consortium. The EFL approval would normally (but not always) be the rubber stamping stage, so I'm starting to doubt if it ever really reached that far if Evans is wriggling. |
I can guarantee it has gone that far, I can't say how long it's been with them though. As I say, I think it's becoming less likely to happen than it was a few weeks back. | | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 11:59 - Mar 23 with 2310 views | WeWereZombies |
| The takeover by Gamechanger 20 Ltd - The training ground land on 11:35 - Mar 23 by PhilTWTD |
I don't think it's entirely unlikely for someone to get cold feet regarding a deal which has progressed a long way, particularly if they were reluctant in the first place.
The deal as it was laid out to me initially - and I had reported that there was something in the rumours prior to the Athletic report - would have been done by now if it was happening to the timescale as it was then.
I'm not sure too much should be read into the EFL thing, I assume the required paperwork is submitted as soon as is possible so as to get the matter over the line as soon as possible. |
Do we know for sure that the proposed deal went to the EFL for ratification or has the confirmed presence of searches (btw - are they still there today, muncher?) led to an assumption of a deal being notified to the EFL?
[edit - Phil, just seen your post that went up as I was typing and posting mine so apologies if this seems like an affront to your integrity, I should qualify the statement above by saying that I do not know if there is anything in the public domain that would signify the EFL ratification process beginning but I am sure you would have a much better idea than I do.} [Post edited 23 Mar 2021 12:04]
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| The takeover by Gamechanger 20 Ltd - The training ground land on 11:59 - Mar 23 with 2307 views | PhilTWTD |
| The takeover by Gamechanger 20 Ltd - The training ground land on 11:54 - Mar 23 by hype313 |
I would have thought even if the EFL had ratified it, Evans could still pull and walk away. |
I would assume the same too. | | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 12:02 - Mar 23 with 2288 views | PhilTWTD |
| The takeover by Gamechanger 20 Ltd - The training ground land on 11:59 - Mar 23 by WeWereZombies |
Do we know for sure that the proposed deal went to the EFL for ratification or has the confirmed presence of searches (btw - are they still there today, muncher?) led to an assumption of a deal being notified to the EFL?
[edit - Phil, just seen your post that went up as I was typing and posting mine so apologies if this seems like an affront to your integrity, I should qualify the statement above by saying that I do not know if there is anything in the public domain that would signify the EFL ratification process beginning but I am sure you would have a much better idea than I do.} [Post edited 23 Mar 2021 12:04]
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No, the matter has definitely been with the EFL. | | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 12:09 - Mar 23 with 2229 views | tractorboy1978 |
| The takeover by Gamechanger 20 Ltd - The training ground land on 11:54 - Mar 23 by hype313 |
I would have thought even if the EFL had ratified it, Evans could still pull and walk away. |
I'd assume the EFL's ratification is around the background of those involved, ability to fund the club, where the funds are coming from and suitability of the consortium as owners. I doubt it goes into the final intricacies of the consideration Evans is receiving etc so highly possible a deal could be sent to the EFL without final terms being agreed. | | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 12:15 - Mar 23 with 2188 views | Muncher |
| The takeover by Gamechanger 20 Ltd - The training ground land on 11:59 - Mar 23 by WeWereZombies |
Do we know for sure that the proposed deal went to the EFL for ratification or has the confirmed presence of searches (btw - are they still there today, muncher?) led to an assumption of a deal being notified to the EFL?
[edit - Phil, just seen your post that went up as I was typing and posting mine so apologies if this seems like an affront to your integrity, I should qualify the statement above by saying that I do not know if there is anything in the public domain that would signify the EFL ratification process beginning but I am sure you would have a much better idea than I do.} [Post edited 23 Mar 2021 12:04]
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They are still there, I check a few times a day and will update the thread if/when that changes. | | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 12:21 - Mar 23 with 2161 views | Hessleblue |
| The takeover by Gamechanger 20 Ltd - The training ground land on 12:15 - Mar 23 by Muncher |
They are still there, I check a few times a day and will update the thread if/when that changes. |
Thanks for the regular updates Muncher. Given the searches have now been in place for a month, what is your professional opinion on the likelihood of conditional contracts having been exchanged? | | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 12:23 - Mar 23 with 2147 views | 70s_Legend |
| The takeover by Gamechanger 20 Ltd - The training ground land on 12:09 - Mar 23 by tractorboy1978 |
I'd assume the EFL's ratification is around the background of those involved, ability to fund the club, where the funds are coming from and suitability of the consortium as owners. I doubt it goes into the final intricacies of the consideration Evans is receiving etc so highly possible a deal could be sent to the EFL without final terms being agreed. |
The normal stages of the process are laid out in my earlier post. You wouldn't notify the EFL unless you were fairly certain of the deal progressing. Although there maybe some finer points to iron out, you wouldn't be at that stage without agreeing the significant terms. Sunderland took almost 3 months from the EFL being notified to receiving approval. The takeover was formally announced very shortly afterwards.
To pull out now would signify something quite massive changing or maybe it is just an incompetent indecisive owner. Surprised Matt Slater is still confident nothing has changed though. | | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 12:32 - Mar 23 with 2094 views | hype313 |
| The takeover by Gamechanger 20 Ltd - The training ground land on 12:23 - Mar 23 by 70s_Legend |
The normal stages of the process are laid out in my earlier post. You wouldn't notify the EFL unless you were fairly certain of the deal progressing. Although there maybe some finer points to iron out, you wouldn't be at that stage without agreeing the significant terms. Sunderland took almost 3 months from the EFL being notified to receiving approval. The takeover was formally announced very shortly afterwards.
To pull out now would signify something quite massive changing or maybe it is just an incompetent indecisive owner. Surprised Matt Slater is still confident nothing has changed though. |
When was the last time Matt Slater said he was confident, I can't see anything of note for a few weeks now. | |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 12:32 - Mar 23 with 2089 views | itfcbishop |
| The takeover by Gamechanger 20 Ltd - The training ground land on 12:23 - Mar 23 by 70s_Legend |
The normal stages of the process are laid out in my earlier post. You wouldn't notify the EFL unless you were fairly certain of the deal progressing. Although there maybe some finer points to iron out, you wouldn't be at that stage without agreeing the significant terms. Sunderland took almost 3 months from the EFL being notified to receiving approval. The takeover was formally announced very shortly afterwards.
To pull out now would signify something quite massive changing or maybe it is just an incompetent indecisive owner. Surprised Matt Slater is still confident nothing has changed though. |
I'm 99% sure Evans is waiting to play out this season. He wouldn't sell if we got promoted but would probably look at offers if we're stuck in league one. We have a new manager and the easiest run-in.
People have said he can add a clause in the contract if we are promoted. But he won't sell in the championship. I believe Evans really wants Ipswich to succeed. Unfortunately i feel he hasn't got a clue how to run a football club. People with money and power are way too stubborn to just roll over. [Post edited 23 Mar 2021 12:40]
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