| The takeover by Gamechanger 20 Ltd - The training ground land 23:56 - Mar 2 with 139983 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 11:41 - Mar 7 with 5593 views | kaibe |
| The takeover by Gamechanger 20 Ltd - The training ground land on 11:17 - Mar 6 by Muncher |
Still there, no change. |
Any update on the land searches. Assuming they are still there | | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 16:15 - Mar 7 with 5321 views | Muncher |
| The takeover by Gamechanger 20 Ltd - The training ground land on 11:41 - Mar 7 by kaibe |
Any update on the land searches. Assuming they are still there |
Yes they are still there. | | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 22:37 - Mar 7 with 4975 views | ArnieM |
| The takeover by Gamechanger 20 Ltd - The training ground land on 16:15 - Mar 7 by Muncher |
Yes they are still there. |
But are they fake , put there by some wind up merchant? There’s a few about sadly .... |  |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 22:48 - Mar 7 with 4936 views | ElderGrizzly |
| The takeover by Gamechanger 20 Ltd - The training ground land on 22:37 - Mar 7 by ArnieM |
But are they fake , put there by some wind up merchant? There’s a few about sadly .... |
No. Muncher has explained who can lodge them |  | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 22:56 - Mar 7 with 4898 views | itfctilidie |
Hey Muncher, I have enjoyed reading your informative posts.
I was wondering, do these registers hold archives, is there a way of seeing when Marcus Evans group did the same 'search' when he bought the club? 13 years is a long time so maybe shooting in the dark here - I know its not going to be the same timeline, just interested in when Evans did the search prior to taking over.
cheers |  | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 06:34 - Mar 8 with 4711 views | Muncher |
| The takeover by Gamechanger 20 Ltd - The training ground land on 22:37 - Mar 7 by ArnieM |
But are they fake , put there by some wind up merchant? There’s a few about sadly .... |
Impossible to be fake because when the search is made it automatically says which law firm made it and which of their offices in particular. You can’t create that data, it’s derived from the account which will be used by the lawyers dozens if not hundreds of times per day, every day. For a property lawyer access to the land registry via the portal is one of the primary tools of your job. | | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 06:56 - Mar 8 with 4663 views | Muncher |
| The takeover by Gamechanger 20 Ltd - The training ground land on 22:56 - Mar 7 by itfctilidie |
Hey Muncher, I have enjoyed reading your informative posts.
I was wondering, do these registers hold archives, is there a way of seeing when Marcus Evans group did the same 'search' when he bought the club? 13 years is a long time so maybe shooting in the dark here - I know its not going to be the same timeline, just interested in when Evans did the search prior to taking over.
cheers |
Thanks, I am glad you find it interesting.
There isn’t any archive of these searches, it wouldn’t serve any purpose, we are only interested in what is current.
As to whether whether evans would have made a search when he bought the club, probably not because I believe that was a share purchase, ie he was the land ownership itself didn’t change, the registered proprietor would have still been the club, albeit the ownership of the club shareholding changed. There is no land transaction there to protect.
What about when Evans sold the training ground to his other group company in 2012? Well possibly a search would have been lodged but not necessarily. In this situation the buying company has control over the selling company so there is no chance of a dealing happening to the property between signing the transfer and getting it registered.
In this instance the search is made by Gamechanger once contracts have been entered into (and potentially a deposit has already been handed over) to ensure they can complete their transaction and get it registered without Evans transferring it to someone else.
The closest kind of analogy I can think of is Gamechanger grabbing one of those tickets in a queuing system for a custom made pizza in a supermarket but slightly more sophisticated and binding.
If someone later spots you holding a printed ticket for a 12” pepperoni, it’s a bit difficult to deny you have ever been to the supermarket to buy a pizza or that the supermarket has given you that ticket. | | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 08:25 - Mar 8 with 4468 views | Charlie_pl_baxter |
| The takeover by Gamechanger 20 Ltd - The training ground land on 06:56 - Mar 8 by Muncher |
Thanks, I am glad you find it interesting.
There isn’t any archive of these searches, it wouldn’t serve any purpose, we are only interested in what is current.
As to whether whether evans would have made a search when he bought the club, probably not because I believe that was a share purchase, ie he was the land ownership itself didn’t change, the registered proprietor would have still been the club, albeit the ownership of the club shareholding changed. There is no land transaction there to protect.
What about when Evans sold the training ground to his other group company in 2012? Well possibly a search would have been lodged but not necessarily. In this situation the buying company has control over the selling company so there is no chance of a dealing happening to the property between signing the transfer and getting it registered.
In this instance the search is made by Gamechanger once contracts have been entered into (and potentially a deposit has already been handed over) to ensure they can complete their transaction and get it registered without Evans transferring it to someone else.
The closest kind of analogy I can think of is Gamechanger grabbing one of those tickets in a queuing system for a custom made pizza in a supermarket but slightly more sophisticated and binding.
If someone later spots you holding a printed ticket for a 12” pepperoni, it’s a bit difficult to deny you have ever been to the supermarket to buy a pizza or that the supermarket has given you that ticket. |
If I didn't love this thread enough already, the slightly ropey analogy comes in and seals the deal. Shades of Jonathan van Tam explaining the covid stats. |  |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 08:59 - Mar 8 with 4364 views | ArnieM |
| The takeover by Gamechanger 20 Ltd - The training ground land on 06:34 - Mar 8 by Muncher |
Impossible to be fake because when the search is made it automatically says which law firm made it and which of their offices in particular. You can’t create that data, it’s derived from the account which will be used by the lawyers dozens if not hundreds of times per day, every day. For a property lawyer access to the land registry via the portal is one of the primary tools of your job. |
Thank you muncher . I am now very much reassured , and frankly await completion. The only question now is .... when ? | |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 10:22 - Mar 8 with 4153 views | NthQldITFC |
| The takeover by Gamechanger 20 Ltd - The training ground land on 06:56 - Mar 8 by Muncher |
Thanks, I am glad you find it interesting.
There isn’t any archive of these searches, it wouldn’t serve any purpose, we are only interested in what is current.
As to whether whether evans would have made a search when he bought the club, probably not because I believe that was a share purchase, ie he was the land ownership itself didn’t change, the registered proprietor would have still been the club, albeit the ownership of the club shareholding changed. There is no land transaction there to protect.
What about when Evans sold the training ground to his other group company in 2012? Well possibly a search would have been lodged but not necessarily. In this situation the buying company has control over the selling company so there is no chance of a dealing happening to the property between signing the transfer and getting it registered.
In this instance the search is made by Gamechanger once contracts have been entered into (and potentially a deposit has already been handed over) to ensure they can complete their transaction and get it registered without Evans transferring it to someone else.
The closest kind of analogy I can think of is Gamechanger grabbing one of those tickets in a queuing system for a custom made pizza in a supermarket but slightly more sophisticated and binding.
If someone later spots you holding a printed ticket for a 12” pepperoni, it’s a bit difficult to deny you have ever been to the supermarket to buy a pizza or that the supermarket has given you that ticket. |
Thanks from me too. A couple of additional questions for you to clear up while you're giving pro bono advice; do you think the Americans would be satisfied with a 12" supermarket pizza? Can the same system be used for the garlic bread, or would there be additional forms and a surcharge? |  |
| # WE ARE STEALING THE FUTURE FROM OUR CHILDREN --- WE MUST CHANGE COURSE # | | Poll: | It's driving me nuts |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 10:27 - Mar 8 with 4125 views | Keno |
| The takeover by Gamechanger 20 Ltd - The training ground land on 10:22 - Mar 8 by NthQldITFC |
Thanks from me too. A couple of additional questions for you to clear up while you're giving pro bono advice; do you think the Americans would be satisfied with a 12" supermarket pizza? Can the same system be used for the garlic bread, or would there be additional forms and a surcharge? |
I'm more interested in the pizza topping
Obviously I would expect them too choose hawaiian, that is the pizza of the gods |  |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 10:36 - Mar 8 with 4085 views | Muncher |
| The takeover by Gamechanger 20 Ltd - The training ground land on 08:59 - Mar 8 by ArnieM |
Thank you muncher . I am now very much reassured , and frankly await completion. The only question now is .... when ? |
That's the $30m question isn't it.
I am working on the assumption a deal was agreed on or around 23 February (the priorty search, Lambert's departure and Cook's appointment all point to this).
https://www.efl.com/-more/governance/efl-rules--regulations/appendix-3---owners-
The key bit of the regulations is this:
3 Acquiring of Control
3.1 If any Person proposes to acquire Control of a Club:
(a) the Club and/or the Person shall, as far in advance of the acquisition of Control as reasonably possible and in any event no later than 10 Normal Working Days prior to the date on which it is anticipated that such acquisition of Control will take place:
(i) submit to the League a duly completed Declaration in respect of each Person who will become a Relevant person upon the proposed acquisition of Control; and
(ii) submit to the League up to date Future Financial Information (as defined in Regulation 16) prepared to take into account the consequences of the change of Control on the Club’s future financial position; and
(b) the League shall have the power to require the Club and/or the Person who proposes to acquire Control to appear before it and to provide evidence of the ultimate source and sufficiency of any funds which that Person proposes to utilise to acquire Control and/or invest in or otherwise make available to the Club.
3.2 In relation to any proposed acquisition of Control of a Club by a Person, The League shall have:
(a) the powers set out in Regulation 16.20; and/or
(b) the ability to impose such other conditions,
as in each case it may determine, in order to monitor and/or ensure compliance with Regulations 16 to 19, 21, 22 (including Appendix 3) and 103 to 113 inclusive (and their successor or replacement provisions).
3.3 No Person may acquire Control of a Club and no Club may permit a Person to acquire Control of it until such time as:
(a) The League provides confirmation that all Persons that are required to do so have complied with the process set out in Rule 3.1(a)(i) and no such Persons are liable to be disqualified as a Relevant Person;
(b) The League provides confirmation of its satisfaction with the information provided pursuant to Rule 3.1(a)(ii); and
(c) The Club and any Person proposing to acquire Control have acceded to any powers and/or accepted any conditions imposed pursuant to Rule 3.2.
4 Decision
4.1 Where The League decides (whether based on a Declaration or otherwise) that a person who is or wishes to become a Relevant Person is subject to a Disqualifying Condition, The League shall notify the person and their Club in writing of that decision (with reasons).
4.2 Where the person is a Relevant Person when the decision under Rule 4.1 is made:
(a) within 28 days of receipt of that notice (or such other period as is specified by The League in the notice) they must resign as a director or officer of the Club (where applicable) and/or take such other steps as are necessary in all the circumstances to ensure that they no longer comes within the definition of a Relevant Person; and
(b) thereafter they must ensure that they continue not to come within the definition of a Relevant Person for so long as the Disqualifying Condition subsists.
4.3 Where the person is not a Relevant Person when the decision is made, they must not do anything that brings him within the definition of a Relevant Person for so long as the Disqualifying Condition subsists.
4.4 A Club must not permit any person who is subject to a Disqualifying Condition either to become a Relevant Person or (if they were already a Relevant Person before the Disqualifying Condition arose) to continue to be a Relevant Person for the Club, for so long as the Disqualifying Condition subsists.
4.5 Further, no Person may acquire any Holding in a Club if, pursuant to the law of the United Kingdom or the European Union:
(a) they are prohibited from entering the United Kingdom; or
(b) no funds or economic resources may be made available, directly or indirectly, to or for their benefit.d
Clause 2.5 (b) Suggests that the EFL will let the club know an anticpated timeline for making their decision within 5 working days of receipt of the application. The club may have been told around the start of the month when a decision can be expected, so they should have a fairly good idea. | | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 10:38 - Mar 8 with 4055 views | hype313 |
| The takeover by Gamechanger 20 Ltd - The training ground land on 10:36 - Mar 8 by Muncher |
That's the $30m question isn't it.
I am working on the assumption a deal was agreed on or around 23 February (the priorty search, Lambert's departure and Cook's appointment all point to this).
https://www.efl.com/-more/governance/efl-rules--regulations/appendix-3---owners-
The key bit of the regulations is this:
3 Acquiring of Control
3.1 If any Person proposes to acquire Control of a Club:
(a) the Club and/or the Person shall, as far in advance of the acquisition of Control as reasonably possible and in any event no later than 10 Normal Working Days prior to the date on which it is anticipated that such acquisition of Control will take place:
(i) submit to the League a duly completed Declaration in respect of each Person who will become a Relevant person upon the proposed acquisition of Control; and
(ii) submit to the League up to date Future Financial Information (as defined in Regulation 16) prepared to take into account the consequences of the change of Control on the Club’s future financial position; and
(b) the League shall have the power to require the Club and/or the Person who proposes to acquire Control to appear before it and to provide evidence of the ultimate source and sufficiency of any funds which that Person proposes to utilise to acquire Control and/or invest in or otherwise make available to the Club.
3.2 In relation to any proposed acquisition of Control of a Club by a Person, The League shall have:
(a) the powers set out in Regulation 16.20; and/or
(b) the ability to impose such other conditions,
as in each case it may determine, in order to monitor and/or ensure compliance with Regulations 16 to 19, 21, 22 (including Appendix 3) and 103 to 113 inclusive (and their successor or replacement provisions).
3.3 No Person may acquire Control of a Club and no Club may permit a Person to acquire Control of it until such time as:
(a) The League provides confirmation that all Persons that are required to do so have complied with the process set out in Rule 3.1(a)(i) and no such Persons are liable to be disqualified as a Relevant Person;
(b) The League provides confirmation of its satisfaction with the information provided pursuant to Rule 3.1(a)(ii); and
(c) The Club and any Person proposing to acquire Control have acceded to any powers and/or accepted any conditions imposed pursuant to Rule 3.2.
4 Decision
4.1 Where The League decides (whether based on a Declaration or otherwise) that a person who is or wishes to become a Relevant Person is subject to a Disqualifying Condition, The League shall notify the person and their Club in writing of that decision (with reasons).
4.2 Where the person is a Relevant Person when the decision under Rule 4.1 is made:
(a) within 28 days of receipt of that notice (or such other period as is specified by The League in the notice) they must resign as a director or officer of the Club (where applicable) and/or take such other steps as are necessary in all the circumstances to ensure that they no longer comes within the definition of a Relevant Person; and
(b) thereafter they must ensure that they continue not to come within the definition of a Relevant Person for so long as the Disqualifying Condition subsists.
4.3 Where the person is not a Relevant Person when the decision is made, they must not do anything that brings him within the definition of a Relevant Person for so long as the Disqualifying Condition subsists.
4.4 A Club must not permit any person who is subject to a Disqualifying Condition either to become a Relevant Person or (if they were already a Relevant Person before the Disqualifying Condition arose) to continue to be a Relevant Person for the Club, for so long as the Disqualifying Condition subsists.
4.5 Further, no Person may acquire any Holding in a Club if, pursuant to the law of the United Kingdom or the European Union:
(a) they are prohibited from entering the United Kingdom; or
(b) no funds or economic resources may be made available, directly or indirectly, to or for their benefit.d
Clause 2.5 (b) Suggests that the EFL will let the club know an anticpated timeline for making their decision within 5 working days of receipt of the application. The club may have been told around the start of the month when a decision can be expected, so they should have a fairly good idea. |
So, Imminent then  |  |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 10:41 - Mar 8 with 4011 views | Keno |
| The takeover by Gamechanger 20 Ltd - The training ground land on 10:38 - Mar 8 by hype313 |
So, Imminent then |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 10:43 - Mar 8 with 3998 views | Keno |
| The takeover by Gamechanger 20 Ltd - The training ground land on 10:36 - Mar 8 by Muncher |
That's the $30m question isn't it.
I am working on the assumption a deal was agreed on or around 23 February (the priorty search, Lambert's departure and Cook's appointment all point to this).
https://www.efl.com/-more/governance/efl-rules--regulations/appendix-3---owners-
The key bit of the regulations is this:
3 Acquiring of Control
3.1 If any Person proposes to acquire Control of a Club:
(a) the Club and/or the Person shall, as far in advance of the acquisition of Control as reasonably possible and in any event no later than 10 Normal Working Days prior to the date on which it is anticipated that such acquisition of Control will take place:
(i) submit to the League a duly completed Declaration in respect of each Person who will become a Relevant person upon the proposed acquisition of Control; and
(ii) submit to the League up to date Future Financial Information (as defined in Regulation 16) prepared to take into account the consequences of the change of Control on the Club’s future financial position; and
(b) the League shall have the power to require the Club and/or the Person who proposes to acquire Control to appear before it and to provide evidence of the ultimate source and sufficiency of any funds which that Person proposes to utilise to acquire Control and/or invest in or otherwise make available to the Club.
3.2 In relation to any proposed acquisition of Control of a Club by a Person, The League shall have:
(a) the powers set out in Regulation 16.20; and/or
(b) the ability to impose such other conditions,
as in each case it may determine, in order to monitor and/or ensure compliance with Regulations 16 to 19, 21, 22 (including Appendix 3) and 103 to 113 inclusive (and their successor or replacement provisions).
3.3 No Person may acquire Control of a Club and no Club may permit a Person to acquire Control of it until such time as:
(a) The League provides confirmation that all Persons that are required to do so have complied with the process set out in Rule 3.1(a)(i) and no such Persons are liable to be disqualified as a Relevant Person;
(b) The League provides confirmation of its satisfaction with the information provided pursuant to Rule 3.1(a)(ii); and
(c) The Club and any Person proposing to acquire Control have acceded to any powers and/or accepted any conditions imposed pursuant to Rule 3.2.
4 Decision
4.1 Where The League decides (whether based on a Declaration or otherwise) that a person who is or wishes to become a Relevant Person is subject to a Disqualifying Condition, The League shall notify the person and their Club in writing of that decision (with reasons).
4.2 Where the person is a Relevant Person when the decision under Rule 4.1 is made:
(a) within 28 days of receipt of that notice (or such other period as is specified by The League in the notice) they must resign as a director or officer of the Club (where applicable) and/or take such other steps as are necessary in all the circumstances to ensure that they no longer comes within the definition of a Relevant Person; and
(b) thereafter they must ensure that they continue not to come within the definition of a Relevant Person for so long as the Disqualifying Condition subsists.
4.3 Where the person is not a Relevant Person when the decision is made, they must not do anything that brings him within the definition of a Relevant Person for so long as the Disqualifying Condition subsists.
4.4 A Club must not permit any person who is subject to a Disqualifying Condition either to become a Relevant Person or (if they were already a Relevant Person before the Disqualifying Condition arose) to continue to be a Relevant Person for the Club, for so long as the Disqualifying Condition subsists.
4.5 Further, no Person may acquire any Holding in a Club if, pursuant to the law of the United Kingdom or the European Union:
(a) they are prohibited from entering the United Kingdom; or
(b) no funds or economic resources may be made available, directly or indirectly, to or for their benefit.d
Clause 2.5 (b) Suggests that the EFL will let the club know an anticpated timeline for making their decision within 5 working days of receipt of the application. The club may have been told around the start of the month when a decision can be expected, so they should have a fairly good idea. |
Munchy this is an amazing thread, thank you and the timing of PR going does seem to hint that things are afoot.
Does anyone know how long the EFL usually take in matters like this? [Post edited 8 Mar 2021 10:43]
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| The takeover by Gamechanger 20 Ltd - The training ground land on 10:46 - Mar 8 with 3980 views | SomethingBlue |
| The takeover by Gamechanger 20 Ltd - The training ground land on 10:43 - Mar 8 by Keno |
Munchy this is an amazing thread, thank you and the timing of PR going does seem to hint that things are afoot.
Does anyone know how long the EFL usually take in matters like this? [Post edited 8 Mar 2021 10:43]
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The short answer to that is: no. My understanding is that (assuming all goes through ok) it could be days or weeks and that Covid makes things less predictable. That was as of before the weekend though. | |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 10:50 - Mar 8 with 3939 views | SouperJim |
| The takeover by Gamechanger 20 Ltd - The training ground land on 10:46 - Mar 8 by SomethingBlue |
The short answer to that is: no. My understanding is that (assuming all goes through ok) it could be days or weeks and that Covid makes things less predictable. That was as of before the weekend though. |
Think I read somewhere that 2-4 weeks is the kind of timeframe we're looking at for ratification to be done and dusted. Assuming 23rd Feb was the start point, tomorrow is the 2 week mark. |  |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 10:52 - Mar 8 with 3917 views | SomethingBlue |
| The takeover by Gamechanger 20 Ltd - The training ground land on 10:50 - Mar 8 by SouperJim |
Think I read somewhere that 2-4 weeks is the kind of timeframe we're looking at for ratification to be done and dusted. Assuming 23rd Feb was the start point, tomorrow is the 2 week mark. |
Sounds fair. I'd be a little surprised if it dragged much beyond this month, but then again there are a lot of unknowns involved. | |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 10:52 - Mar 8 with 3916 views | GodBlue |
| The takeover by Gamechanger 20 Ltd - The training ground land on 10:36 - Mar 8 by Muncher |
That's the $30m question isn't it.
I am working on the assumption a deal was agreed on or around 23 February (the priorty search, Lambert's departure and Cook's appointment all point to this).
https://www.efl.com/-more/governance/efl-rules--regulations/appendix-3---owners-
The key bit of the regulations is this:
3 Acquiring of Control
3.1 If any Person proposes to acquire Control of a Club:
(a) the Club and/or the Person shall, as far in advance of the acquisition of Control as reasonably possible and in any event no later than 10 Normal Working Days prior to the date on which it is anticipated that such acquisition of Control will take place:
(i) submit to the League a duly completed Declaration in respect of each Person who will become a Relevant person upon the proposed acquisition of Control; and
(ii) submit to the League up to date Future Financial Information (as defined in Regulation 16) prepared to take into account the consequences of the change of Control on the Club’s future financial position; and
(b) the League shall have the power to require the Club and/or the Person who proposes to acquire Control to appear before it and to provide evidence of the ultimate source and sufficiency of any funds which that Person proposes to utilise to acquire Control and/or invest in or otherwise make available to the Club.
3.2 In relation to any proposed acquisition of Control of a Club by a Person, The League shall have:
(a) the powers set out in Regulation 16.20; and/or
(b) the ability to impose such other conditions,
as in each case it may determine, in order to monitor and/or ensure compliance with Regulations 16 to 19, 21, 22 (including Appendix 3) and 103 to 113 inclusive (and their successor or replacement provisions).
3.3 No Person may acquire Control of a Club and no Club may permit a Person to acquire Control of it until such time as:
(a) The League provides confirmation that all Persons that are required to do so have complied with the process set out in Rule 3.1(a)(i) and no such Persons are liable to be disqualified as a Relevant Person;
(b) The League provides confirmation of its satisfaction with the information provided pursuant to Rule 3.1(a)(ii); and
(c) The Club and any Person proposing to acquire Control have acceded to any powers and/or accepted any conditions imposed pursuant to Rule 3.2.
4 Decision
4.1 Where The League decides (whether based on a Declaration or otherwise) that a person who is or wishes to become a Relevant Person is subject to a Disqualifying Condition, The League shall notify the person and their Club in writing of that decision (with reasons).
4.2 Where the person is a Relevant Person when the decision under Rule 4.1 is made:
(a) within 28 days of receipt of that notice (or such other period as is specified by The League in the notice) they must resign as a director or officer of the Club (where applicable) and/or take such other steps as are necessary in all the circumstances to ensure that they no longer comes within the definition of a Relevant Person; and
(b) thereafter they must ensure that they continue not to come within the definition of a Relevant Person for so long as the Disqualifying Condition subsists.
4.3 Where the person is not a Relevant Person when the decision is made, they must not do anything that brings him within the definition of a Relevant Person for so long as the Disqualifying Condition subsists.
4.4 A Club must not permit any person who is subject to a Disqualifying Condition either to become a Relevant Person or (if they were already a Relevant Person before the Disqualifying Condition arose) to continue to be a Relevant Person for the Club, for so long as the Disqualifying Condition subsists.
4.5 Further, no Person may acquire any Holding in a Club if, pursuant to the law of the United Kingdom or the European Union:
(a) they are prohibited from entering the United Kingdom; or
(b) no funds or economic resources may be made available, directly or indirectly, to or for their benefit.d
Clause 2.5 (b) Suggests that the EFL will let the club know an anticpated timeline for making their decision within 5 working days of receipt of the application. The club may have been told around the start of the month when a decision can be expected, so they should have a fairly good idea. |
I was reading this last night, trying to figure out the same... the only assumption I came away with was that, given there are five (?) people who would effectively become a 'Relevant Person', the timeframe may be a little longer than if it were just one person being vetted.
Hopefully it won't take them too long, but it wouldn't surprise me if it all goes quiet for a month*.
*I'm going to post this and there will be a 'Takeover Complete' story on the homepage! |  |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 11:08 - Mar 8 with 3809 views | ArnieM |
Thanks for that Munchy. I take it you work in this legal field ....or are just a very good investigator lol! ðŸ‘
I’m hoping we’ll be put out of our misery one way or another, come the end of March based on what you’ve posted. 🤞 | |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 11:29 - Mar 8 with 3726 views | Muncher |
| The takeover by Gamechanger 20 Ltd - The training ground land on 11:08 - Mar 8 by ArnieM |
Thanks for that Munchy. I take it you work in this legal field ....or are just a very good investigator lol! ðŸ‘
I’m hoping we’ll be put out of our misery one way or another, come the end of March based on what you’ve posted. 🤞 |
I'm a commercial property solicitor so this kind of thing is my day job. Over the years I have worked on similar transactions including in the leadup to takeovers of other football clubs, which ultimately never completed. | | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 11:55 - Mar 8 with 3596 views | portmanking |
| The takeover by Gamechanger 20 Ltd - The training ground land on 11:29 - Mar 8 by Muncher |
I'm a commercial property solicitor so this kind of thing is my day job. Over the years I have worked on similar transactions including in the leadup to takeovers of other football clubs, which ultimately never completed. |
I don't like the last few words in that paragraph, Muncher!
Hopefully our deal is more advanced than the ones you previously worked on. | | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 12:40 - Mar 8 with 3468 views | Muncher |
https://prettys.co.uk/news/takeover-ipswich-town-football-club-could-be-progress
A Suffolk solicitor has unearthed new information that could shed a light on the possible sale of Ipswich Town Football Club.
Speculation Blues’ owner, Marcus Evans, is looking to sell the club has grown in recent weeks with him issuing a statement saying no acceptable deal is currently on the table.
However, research carried out by Paul Munnings, commercial property associate at Ipswich-based solicitors Prettys, suggests a deal could be close.
He said: “Priority searches have been lodged through HM Land Registry by a national law firm in favour of their client Gamechanger 20 Limited regarding three parcels of land — the club’s Playford Road and Bent Lane training centres on the outskirts of Ipswich which are owned by marcus evans Group.
“A priority search is typically only carried out in the immediate days before an exchange of contracts so this is likely to mean that a conditional contract for the takeover of the club is already in place.
“The fact that the searches remain on the register at the time of writing suggests a deal has likely been agreed or is imminent and may be announced by the English Football League in the coming days.”
This research confirms what Ipswich Town supporters have been speculating over recent weeks, with the departure of manager Paul Lambert and the appointment of new manager Paul Cook a key indicator that something more was happening behind the scenes.
If the deal goes through, the League One club will be owned by football investors Brett M Johnson, Berke Bakay and Mark Detmer, who are behind US sides Phoenix Rising FC, FC Tucson and Danish side FC Helsingor.
[Post edited 8 Mar 2021 13:14]
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| The takeover by Gamechanger 20 Ltd - The training ground land on 13:03 - Mar 8 with 3348 views | IpswichKnight |
| The takeover by Gamechanger 20 Ltd - The training ground land on 10:52 - Mar 8 by SomethingBlue |
Sounds fair. I'd be a little surprised if it dragged much beyond this month, but then again there are a lot of unknowns involved. |
Did you think Marcus’s letter was also aimed at the Americans in a shut up you weren’t supposed to leak this? They do seem to have gone a bit quiet since that letter. | | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 13:14 - Mar 8 with 3276 views | Plums |
| The takeover by Gamechanger 20 Ltd - The training ground land on 12:40 - Mar 8 by Muncher |
https://prettys.co.uk/news/takeover-ipswich-town-football-club-could-be-progress
A Suffolk solicitor has unearthed new information that could shed a light on the possible sale of Ipswich Town Football Club.
Speculation Blues’ owner, Marcus Evans, is looking to sell the club has grown in recent weeks with him issuing a statement saying no acceptable deal is currently on the table.
However, research carried out by Paul Munnings, commercial property associate at Ipswich-based solicitors Prettys, suggests a deal could be close.
He said: “Priority searches have been lodged through HM Land Registry by a national law firm in favour of their client Gamechanger 20 Limited regarding three parcels of land — the club’s Playford Road and Bent Lane training centres on the outskirts of Ipswich which are owned by marcus evans Group.
“A priority search is typically only carried out in the immediate days before an exchange of contracts so this is likely to mean that a conditional contract for the takeover of the club is already in place.
“The fact that the searches remain on the register at the time of writing suggests a deal has likely been agreed or is imminent and may be announced by the English Football League in the coming days.”
This research confirms what Ipswich Town supporters have been speculating over recent weeks, with the departure of manager Paul Lambert and the appointment of new manager Paul Cook a key indicator that something more was happening behind the scenes.
If the deal goes through, the League One club will be owned by football investors Brett M Johnson, Berke Bakay and Mark Detmer, who are behind US sides Phoenix Rising FC, FC Tucson and Danish side FC Helsingor.
[Post edited 8 Mar 2021 13:14]
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As others have said, thank you for this thread. It’s been very illuminating. You’re rapidly gaining TWTD legend status - for the right reasons! [Post edited 8 Mar 2021 13:15]
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