| Owners had enough? on 16:30 - Jul 9 with 1827 views | portmanking |
| Owners had enough? on 16:21 - Jul 9 by PhilTWTD |
Worth pointing out that this is a couple of steps away from the club. It's not the club looking raise cash but the funds which own Gamechanger and in turn the club.
Clearly an email going out at 9pm in the evening implying the controlling stake in the club is up for sale and that sales of £100m in players could be made over the summer probably led to a bit of frustration this side of the water. |
It isn't really Ashton's place to say the club's not for sale though, is it?
If those with the controlling stake i.e. ORG/Gamechanger are implying they're prepared to take £184m+ for the club, it's kind of out of the hands of the 'club', is it not? |  | |  |
| Owners had enough? on 16:53 - Jul 9 with 1693 views | Matt_Netherlands |
| Owners had enough? on 16:30 - Jul 9 by portmanking |
It isn't really Ashton's place to say the club's not for sale though, is it?
If those with the controlling stake i.e. ORG/Gamechanger are implying they're prepared to take £184m+ for the club, it's kind of out of the hands of the 'club', is it not? |
Very true. Can imagine the club have been a bit rattled by that email going out, so trying to dampen the fires a bit. Definitely more to it than what they’ve told people today. |  | | |
| Owners had enough? on 16:59 - Jul 9 with 1645 views | nrb1985 |
| Owners had enough? on 16:23 - Jul 9 by PhilTWTD |
It's about smaller investors, as per the make-up of Bright Path. Although there are big name investors, there will be smaller investors who we don't know about who are a part of the investment but without sitting round the table. |
Thanks Phil for clarifying.
Albeit, you'll appreciate that the leaked email doesn't read like that at all! It appears to firmly suggest that control of the club is up for grabs and that Three Lions are looking to raise capital to help them obtain that. [Post edited 9 Jul 17:00]
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| Owners had enough? on 17:01 - Jul 9 with 1635 views | RadioOrwell |
Can we all get back to our allotments / homework / office jobs/ car repair / DIY / gaming / watching Wimbledon and/or Place in the Sun and leave this stuff to the grown ups. |  | | |
| Owners had enough? on 17:11 - Jul 9 with 1581 views | PhilTWTD |
| Owners had enough? on 16:30 - Jul 9 by portmanking |
It isn't really Ashton's place to say the club's not for sale though, is it?
If those with the controlling stake i.e. ORG/Gamechanger are implying they're prepared to take £184m+ for the club, it's kind of out of the hands of the 'club', is it not? |
I don't think that's the intention, though. I think the email is largely sales patter to get interested parties into a conversation, the player sales line, for example. The aim is to bring in investors to be part of the existing set-up.
The pension fund obviously will sell at some point but - and given the expectations regarding the club's valuation over the next few years - there seems little reason to do that now. |  | | |
| Owners had enough? on 17:13 - Jul 9 with 1557 views | PhilTWTD |
| Owners had enough? on 16:59 - Jul 9 by nrb1985 |
Thanks Phil for clarifying.
Albeit, you'll appreciate that the leaked email doesn't read like that at all! It appears to firmly suggest that control of the club is up for grabs and that Three Lions are looking to raise capital to help them obtain that. [Post edited 9 Jul 17:00]
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Yes, that was how I read it as well, but it seems it's a sales pitch, so not quite the full story. | | | |
| Owners had enough? on 17:15 - Jul 9 with 1531 views | PhilTWTD |
| Owners had enough? on 16:28 - Jul 9 by Matt_Netherlands |
Club valued at c.£375m according to the email
The investment opportunity is apparently to buy into half of this overall valuation as a minority owner
Yet they are asking for £184-214m… which surely buys out said 50%?
If someone was paying say £184m for half of the 50%…. That would value the club at £736m?
The club were never going to come out and say “we are on the market” but something doesn’t add up. |
I don't think the idea is any individual to take that, although obviously if someone came forward looking to do that there would probably be some sort of conversation. I also think the figures mentioned are somewhat aspirational. | | | |
| Owners had enough? on 17:16 - Jul 9 with 1524 views | portmanking |
| Owners had enough? on 17:11 - Jul 9 by PhilTWTD |
I don't think that's the intention, though. I think the email is largely sales patter to get interested parties into a conversation, the player sales line, for example. The aim is to bring in investors to be part of the existing set-up.
The pension fund obviously will sell at some point but - and given the expectations regarding the club's valuation over the next few years - there seems little reason to do that now. |
Sales patter to get interested parties to consider investing between £184m-£214m!
There's no mention whatsoever in the copy about them seeking partial, low-level investors.
Definitely smelling a rat here. | | | |
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| Owners had enough? on 17:19 - Jul 9 with 1481 views | Vic |
| Owners had enough? on 12:01 - Jul 9 by Leutard |
Potentially just seeing if they can squeeze a bit of profit out, dilute their ownership again? There's always this uncertainty for me over what the investment firms endgame is. But also, who could buy at that price? [Post edited 9 Jul 12:02]
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Not sure if its been commented on but does the mention of 'promotion by '26/'27 give us am indi ation of progress plans? |  |
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| Owners had enough? on 17:28 - Jul 9 with 1448 views | nrb1985 |
| Owners had enough? on 17:16 - Jul 9 by portmanking |
Sales patter to get interested parties to consider investing between £184m-£214m!
There's no mention whatsoever in the copy about them seeking partial, low-level investors.
Definitely smelling a rat here. |
The last line, which I’d missed, references an investment in their fund.
Ergo - you aren’t sitting at the cap table as Phil says, you’re simply injecting capital into the fund for them to purchase the controlling interest.
Big investors like brightpath will have a seat at the table but this is just a pitch to raise capital for the fund.
So this is consistent with attracting “low level” investors. | | | |
| Owners had enough? on 17:29 - Jul 9 with 1442 views | _clive_baker_ |
| Owners had enough? on 16:15 - Jul 9 by itfcjoe |
I'd imagine the Brightpath investment saw them effectively realise all their losses up to that point from cost of sale and investment; whilst still retaining ownership. SO playing with house money from here on in to an extent |
Yes, that's true. I meant specifically with regards to this attempt.
Its like buying a house, spending some money to do it up and putting it on the market. What you might ask for it and what you actually get can be entirely different. Its premature to be talking of 7x multiples when the level of investment to date isn't publicly available, and the reported valuation that would potentially substantiate that multiple hasn't been realised.
Agree they've already taken some cash off the table though. Using that analogy its like selling half of said house for what the whole thing cost them, including the repairs, and as you say its perhaps about the upside now (barring future losses). Perhaps looking to 'bank' a bit more of that upside at this juncture. |  | | |
| Owners had enough? on 17:33 - Jul 9 with 1427 views | muccletonjoe |
Lets face it, with some of the supporters we have got, they can do what they like. No one is going to question anything |  | | |
| Owners had enough? on 17:38 - Jul 9 with 1382 views | _clive_baker_ |
| Owners had enough? on 17:33 - Jul 9 by muccletonjoe |
Lets face it, with some of the supporters we have got, they can do what they like. No one is going to question anything |
They can do what they want whether anyone questions it or not. | | | |
| Owners had enough? on 17:45 - Jul 9 with 1346 views | ITFCSG |
| Owners had enough? on 17:38 - Jul 9 by _clive_baker_ |
They can do what they want whether anyone questions it or not. |
Well, at most other clubs discontent will lead to weekly protests outside the ground, fan boycotts, banner flyovers, pitch encroachments et al.
If the owners value their reputation they will do something - or sell up
Our support is probably one of the most apathetic and placid in the top 2 divisions, clapping Lambert, Chambo & Co towards relegation to the third tier. If not how would Evans have free rein to destroy the club? | | | |
| Owners had enough? on 17:51 - Jul 9 with 1316 views | Matt_Netherlands |
| Owners had enough? on 17:28 - Jul 9 by nrb1985 |
The last line, which I’d missed, references an investment in their fund.
Ergo - you aren’t sitting at the cap table as Phil says, you’re simply injecting capital into the fund for them to purchase the controlling interest.
Big investors like brightpath will have a seat at the table but this is just a pitch to raise capital for the fund.
So this is consistent with attracting “low level” investors. |
Yeah but “They” already have controlling interest…. So why dangle that as a carrot? | | | |
| Owners had enough? on 17:57 - Jul 9 with 1298 views | nrb1985 |
| Owners had enough? on 17:51 - Jul 9 by Matt_Netherlands |
Yeah but “They” already have controlling interest…. So why dangle that as a carrot? |
Do three lions have the controlling share? I didn’t think so.
But still, even if they do, what they’re saying then is - our fund holds the controlling stake and you can invest in our fund. Mind you I would expect the minimum ticket for the fund is still ~500k.
With Phil’s added commentary it does at least make a bit more sense but it’s not the most clearly worded investor pitch I’ve ever seen. | | | |
| Owners had enough? on 17:57 - Jul 9 with 1300 views | _clive_baker_ |
| Owners had enough? on 17:45 - Jul 9 by ITFCSG |
Well, at most other clubs discontent will lead to weekly protests outside the ground, fan boycotts, banner flyovers, pitch encroachments et al.
If the owners value their reputation they will do something - or sell up
Our support is probably one of the most apathetic and placid in the top 2 divisions, clapping Lambert, Chambo & Co towards relegation to the third tier. If not how would Evans have free rein to destroy the club? |
That's all well and good but none of it means they can't do what they want. If the owners of the football club want to sell some of the equity that's their prerogative (notwithstanding rules around right & proper owners etc and who they want to sell to).
There's feck all any clubs fans could do about that. We're no different. | | | |
| Owners had enough? on 17:58 - Jul 9 with 1294 views | blueoutlook |
| Owners had enough? on 17:16 - Jul 9 by portmanking |
Sales patter to get interested parties to consider investing between £184m-£214m!
There's no mention whatsoever in the copy about them seeking partial, low-level investors.
Definitely smelling a rat here. |
I’m with you on this. There is no smoke without fire. If the opportunity came to sell, I think they would. |  | | |
| Owners had enough? on 18:44 - Jul 9 with 1147 views | Bugs |
| Owners had enough? on 17:58 - Jul 9 by blueoutlook |
I’m with you on this. There is no smoke without fire. If the opportunity came to sell, I think they would. |
In almost all instances in the universe where there is smoke, there is smoke without fire. |  | | |
| Owners had enough? on 18:51 - Jul 9 with 1136 views | EEJB |
| Owners had enough? on 17:58 - Jul 9 by blueoutlook |
I’m with you on this. There is no smoke without fire. If the opportunity came to sell, I think they would. |
You're very negative aren't you?
Your posting history is simply a long list of you moaning about/putting a negative spin on pretty much every aspect of ITFC.
Why is that? |  | | |
| Owners had enough? on 20:23 - Jul 9 with 998 views | Blue_Order |
| Owners had enough? on 17:45 - Jul 9 by ITFCSG |
Well, at most other clubs discontent will lead to weekly protests outside the ground, fan boycotts, banner flyovers, pitch encroachments et al.
If the owners value their reputation they will do something - or sell up
Our support is probably one of the most apathetic and placid in the top 2 divisions, clapping Lambert, Chambo & Co towards relegation to the third tier. If not how would Evans have free rein to destroy the club? |
Were you not about when we had a fan group protesting against the management and ownership of the club by disrupting training, displaying banners outside the main entrance on a match day, displaying banners inside the stadium during matches, hanging banners on the training ground & stadium gates and walls, organising fan protests, and calling for season ticket & ifollow boycotts?
Rest assured if it’s ever needed again, we’ll be right there just as we were before. |  | | |
| Owners had enough? on 21:18 - Jul 9 with 897 views | muccletonjoe |
| Owners had enough? on 20:23 - Jul 9 by Blue_Order |
Were you not about when we had a fan group protesting against the management and ownership of the club by disrupting training, displaying banners outside the main entrance on a match day, displaying banners inside the stadium during matches, hanging banners on the training ground & stadium gates and walls, organising fan protests, and calling for season ticket & ifollow boycotts?
Rest assured if it’s ever needed again, we’ll be right there just as we were before. |
This was only after 5 or 6 YEARS of zero investment in the playing staff, ground, training facilities and awarding a manager who struggled to make mid table in league one , a 5 year contract. | | | |
| Owners had enough? on 21:49 - Jul 9 with 815 views | JammyDodgerrr |
| Owners had enough? on 18:44 - Jul 9 by Bugs |
In almost all instances in the universe where there is smoke, there is smoke without fire. |
I mean, of course they would. That will literally be what they came here to do - buy a failing asset for relatively cheap, turn it around, make it's valuation X times bigger than before and secure a huge ROI. It will happen at some point - I'd be surprised if it's now though. |  |
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| Owners had enough? on 05:04 - Jul 10 with 591 views | DavoIPB |
| Owners had enough? on 21:49 - Jul 9 by JammyDodgerrr |
I mean, of course they would. That will literally be what they came here to do - buy a failing asset for relatively cheap, turn it around, make it's valuation X times bigger than before and secure a huge ROI. It will happen at some point - I'd be surprised if it's now though. |
The email sums it all up really. They have reached their goal quicker than what they intended. They are selling the majority of their interest, maximising profit, maximising return on players from last year so expect a few big departures this summer. Must be some bids lined up of confident making 100mil+ | | | |
| Owners had enough? on 07:58 - Jul 10 with 440 views | ernie |
| Owners had enough? on 20:23 - Jul 9 by Blue_Order |
Were you not about when we had a fan group protesting against the management and ownership of the club by disrupting training, displaying banners outside the main entrance on a match day, displaying banners inside the stadium during matches, hanging banners on the training ground & stadium gates and walls, organising fan protests, and calling for season ticket & ifollow boycotts?
Rest assured if it’s ever needed again, we’ll be right there just as we were before. |
A few oiks in tracksuits at the training ground is not the sort of volume of protest he is talking about. | | | |
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