Why are people surprised we are owned by American businesses and pension fund. There is zero loyalty to town or club, and they will treat us like the business they have purchased.

Don't get me wrong with out them we would have never have got to the prem last season. But for all the kind words they or Ashton couldn't care less about the club teh day after they leave. I genuinely think kieran has some affection however again if a good offer comes in will also likely leave.
Nothing unique to town just the modern game. There ton worse owners out there don't get me wrong but these aren't messiahs some make out

Looks like Gamechanger have realised that it is not so easy to stay in the Premier League once you get there and decided to take their profits now. The jump from the Championship to the Premier League is getting bigger and bigger every season.

This is bad PR in my view.
I’m annoyed more than anything that we have showed our hand in the transfer market. To me it reads that Hutchinson will be on his way. Perhaps also O’shea if we get the Reims centre back.
The communication speaks for itself

It sounds like they wanted to make a big profit fast , but it hasn’t worked out like that , so sell all your best players to compensate themselves , I thought it was too good to be true . We need a very rich Arab to buy the complete club .

Optimistic prospectus.
EV 375 (overstated) growing to 1000 in 5 years. Slimmest chance. Assumptions best of best case.
Player sales receipts 'up to' 100m. Reality 40-50 top end.
Positive EBITDA 24/25: maybe, while in PL; not years before or after.
IRR 40% rings alarm bells.
Pension fund wants exit
Incentives: discount on unrealistic valuation and HP terms
Conclusion: you will be lucky mate.
Hardest assumption to swallow: 'Led by an elite CEO and coach..'

The only way to cash in on their investment is to get us back in the Premier League, ask Marcus. So they are going to have to invest and now is the best time, it is a good season to invest.

victorysquad the club was bought for £50m so they could cash in right now if they sold for £375m.

I’m educated enough in business to know the explanation given doesn’t add up when reading this email. Unless English isn’t his first language this doesn’t read positively. With everything going on with the orange moron across the pond I had wondered if the pension fund may be looking to sell to cushion the blow of the train wreck of an economy coming their way.

The key is the drive to a valuation of £1 billion. That only happens with sustained PL football. Brighton are currently valued at around that figure, Our US owners are investing in our club to get a return. Nothing wrong with that, as it means a drive to be successful on and off the pitch.That said l would like to think they all have at least some emotional attachment to the Club. But altruism it ain’t, never was and never will be.

Like others have said. Maybe read the article before posting the usual doom nonsense.

Gamechanger are, of course, in it to make money in the long term. And without them we are probably still in League One with someone called Paul as manager. It’s been a good deal for us and a good deal for them.

We were always a small bit of risk capital to the pension fund, and clearly their advice is, there won’t be a better exit point than this.

I just wish the club would be honest, supporters aren’t village idiots, and Brett does have a good grasp of English and it is EXACTLY what is says it is.

Mixed feelings. They’ve have thrown money at it. And they have moved us forwards, so maybe it’s best for all parties.

They have never built a long term structure off the pitch, and clearly don’t believe we will establish ourselves in the prem anytime soon.

We signalled the end when we backed the manager with a world class salary, and up to £150 million of liabilities on potentially EFL revenue …, there’s no way they want that risk capital eroded without high level returns.

This is the best they see it getting. A year in the sun, with a years parachute payment, and the same management team that has had previous success in the EFL.

I genuinely dont think Ashton would still be here, if they weren’t looking at an ext, and wanted continuity.

I don’t even think the £100 million will be mikes off, probably closer to £80 million. Typical US exaggeration.

The numbers aren’t anywhere near what anyone will pay.., Brett maybe has the same contempt for investors as the club have for supporters. Maybe not a bad start to a conversation.

£50 million write down for EFL revenue. He’s lost almost £100 million. Much of the player sales will still have liabilities on the books.

The base case has to be EFL revenue, and people will look at Luton Town.

Theres £100 million PA plus in prem, plus two parachute years if you stay up.

Nobody will touch this with a barge poll at anywhere near these numbers.

This is why, as a group of supporters. We need to be able to disagree and have some scrutiny beyond tribal passion.

This has been on the cards for a while. All the red flags were there, in full view.

In many ways, the model has been identical to Evans…. No flub structure, no long term strategy, and trusting one or two individuals.

Only this time with better results. And possibly more luck, McKenna worked out brilliantly.

The fan engagement, and the small level spending on murals etc bought time and was brilliant PR for little outlay.

They did though back us in the market, and last summers spending was world class, sadly, such a poor return, was always ending like this.

If you’re playing roulette, you go all in, lose, and then someone adds another 30 numbers to the wheel…., you go and play another game!!

Consequences. The same as Evan’s. He backed us massively .., for a while.

This is why the structure, the talent ID, the results, they mattered for the long term future.

The ‘progress’ narrative with expensive failure, it was wrong, it was always wrong, and we should have been talking about it.

Those that did. They were bullied, harassed and got dogs abuse by a small number of people on this forum.

Well now we are for sale 100% .., we will sell assets up to £70-80 million, and I’m sure we’ll bring two or three in .., but the finances will be geared to an exit.

That means strong P&L will be priority number one.

A pension fund might have deep pockets.., it also has trustees.., and it can play any game in the casino.

I hope they sell to someone who loves the beautiful game.., and has a long term passion to be the best version we can be .., that’s a club in Europe.

In that context. The sooner they go, the better.

The club is bigger and it’s a great opportunity for us, when we have the highest profile in a very long time.., Ed has helped with that (in the US).

Our brand equity hasn’t been higher in decades.

This could be the start of something special. New investment, owner, with an actual world class executive team, stranger things have happened.

darkhorse or should I say LeeJames? I'm impressed...you didn't mention Muric or Davis once :)

Sorry Bluewhiteboy shouldn't have marked you down. What you say is true.

Who was it who dismissed the suggestion of a change of ownership, Ashton?

It was initially reassuring to read the Twtd clarification about new investment without a change of ownership and that there is no headlong rush to sell £100m of players, (which even including Delap money, would gut the team of its best talent and setback promotion prospects by a season or more).

But then i re-read BJ’s letter and, even allowing for some curious wording, the clarification doesn’t stack up given what BJ actually said.

1. Three Lions Capital has negotiated the rights to acquire a controlling interest
2. Total capital raise of between £184M and £214M to acquire a majority stake
3. Up to £100M+ in player sale proceeds. (Note the + sign).

Fact is Three Lions are looking for £180m++. The letter does not say this is new capital. In fact it implies it’s replacing existing capital in exchange for control. And it does specifically call out a figure of £100m for sales, notably with no reference to ground redevelopment costs….

Re player sales. We must respect right of owners to be able to realise some profit, but it’s crazy to always sell all your best players as Southampton found out some years ago and BHA may be finding out now. I suspect Brighton’s final league position will continue to decline. Bottom half calling next season and all their supporters’ hopes dashed of at last winning something or playing in Europe. Let’s hope we can avoid that. I’d rather stay in the Championship!

Read into this what you like. Seems funds for squad now limited as owners want to take a profit and slowly relinquish ownership.

@robsonWark - get a life. I love Leif to bits, he can’t defend, but great player and asset. Muric. Less so.

Your tribal crap, making it about group of and validating that, is EXACTLY what I’m taking about.

You don’t care if you’re right or wrong, or about the clubs long term future…, you’re too blinded by a need for tribe, to divide, to have people you don’t know, just so you can get some validation.

Your style is 100% the reason we can’t scrutinise anything with meaning.

Even the o need spell it out in basic English, the consequences of a record spending, with really poor outcomes…., and you’re still digging.

Stop obsessing about people you know nothing about, and grow up.

Blues1 it’s for the Gamechanger stake, a majority, at valuations that warrant control.

The headline is Phil keeping his job and the club trying to limit the PR damage.

Club for sale.., during a transfer window.., and wanting to sell player you say.

It’s hardly well conceived from Brett, clumsy would be polite.

BUT we ARE for sale…, that’s what the statement says, it’s what the statement means, and it’s 100% true, as is selling £70 million plus in players.., Tbf Delap, Hutch, Muric will almost get us there.., and yes it means Hutch is going, he always was as soon as Delap revenue was taken in last years numbers, that was obvious.

All the red flags have been there for months and months.

We really need to start seeing through the PR and spin, and not hammering people who raise serious concerns.

We spent up to £150 million last year…, we are in the EFL…, typically where wages alone, even way below our wage level, are 100% of turnover.

Add £20 million liabilities at the start of any Evans season, and that’s what we are looking at after this season, if we don’t go up.

We didn’t have a long term vision.

We went ALL IN last summer with Ashton and McKenna and we lost.

That’s what happened. Not a dig at anyone, not an opinion, just the facts, and these are the consequences.

I see it as a massive opportunity if I’m honest.

A chance to get football people and elite off the field operations and recruitment, which clearly is way below where we need it.

Could be a massive blessing.

We need to stop pretending last season was progress though…, spending 20-50 million it wouof have been progress, spending 100-150 million it was a complete and utter bomb scare.

Our best players will all leave.., hopefully we can move on a few of the ones got good enough.., and we go again. We’ll bring some in too I’m sure.

New ownership and new dreams.., this time not indexed to one CEO with an EFL ceiling.

We could be that club in Europe yet…, let’s dream.

It will only be worth one billion if we go up, stay up and establish that is a big ask, last season taught them that.