Tag Archives: bidder

Portsmouth offer from Keith Harris rejected by Football League

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Portsmouth face renewed threat to survival after Football League reject latest Harris offer

By
Mark Staniforth, Press Association

PUBLISHED:

20:50 GMT, 18 February 2013

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UPDATED:

20:50 GMT, 18 February 2013

The Football League has dismissed a revised offer by football financier Keith Harris to take control of npower League One strugglers Portsmouth.

Harris' new bid, made public today, involves a plan to give fans a free 15 per cent stake in the club.

But the League today reiterated its position that Pompey will be expelled from the competition if the Pompey Supporters' Trust – administrator PKF's preferred bidder – is not successful.

Running out of time: Portsmouth's takeover must be completed soon

Running out of time: Portsmouth's takeover must be completed soon

A Football League spokesman said: 'As stated after its most recent meeting, the Board of the Football League is not considering alternative applications for the transfer of Portsmouth's share in The Football League.

'Instead, it remains focused on a successful transfer of share to the preferred bidder, the Pompey Supporters Trust.'

Football financier: Keith Harris

Football financier: Keith Harris

Trust spokesman Colin Farmery said fans had no interest in the new Harris offer, in which 15 per cent of shares will be allocated free to a group made up of supporters who have donated funds to PST, season-ticket holders and hospitality clients.

Farmery said: 'Why would we be interested in 15 per cent when we are just about to take a 100 per cent stake in the club

'It is curious timing to say the least from Mr Harris with the Football League having made it quite clear that our bid is the only one that can be considered.

'Mr Harris seems to think he has still got a bid but he hasn't. Our bid is literally about dotting the i's and crossing the t's.'

The Trust expect to move a step closer to acquiring the club on Thursday when a court hearing will set a final date for the valuation of Fratton Park to be heard, followed by a high court date at which the Trust expect to be given the right to take over the club.

Olympic Stadium bid: West Ham set to win

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West Ham winning race for Olympic Stadium with club set to be announced as preferred bidder

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UPDATED:

07:40 GMT, 29 November 2012

West Ham are set to be named as the preferred bidder for the Olympic Stadium next week amid fresh efforts to plug the gap in funding required to convert the venue into a football ground.

The London Legacy Development Corporation (LLDC) board is meeting on December 5 and sources close to the process say it is expected that the football club will be given a major step towards become the stadium's tenants.

Preferred bidder status will not involve the signing of any contracts but will put West Ham in the driving seat to securing a new home under a 99-year lease.

Up for auction: West Ham are the favourites for the Olympic Stdaium (above)

Up for auction: West Ham are the favourites for the Olympic Stdaium (above)

The funding gap for converting the stadium into a football ground with retractable seating over the running track is understood to now be down to around 20million after West Ham and Newham Council agreed to put in more money.

There is now set to be further efforts to secure the final outstanding cash with approaches to the Treasury and the London mayor's office.

Even so, the total cost will be at least 160million and one lingering fear is that those costs could spiral in the future, with a key element of future negotiations being who would underwrite any such increases.

The Hammers are one of four bidders hoping to be chosen as the new anchor tenant for the Olympic Stadium, which has cost 486million so far and has been vacant since hosting the closing ceremony to the Paralympics at the start of September.

The Barclays Premier League club are
competing against npower League One side Leyton Orient, a football
business college and a group keen to bring Formula One racing to the
Olympic Park.

Funding gap: The stadium will need to be converted

Funding gap: The stadium will need to be converted

West Ham's latest offer is believed to be a 15m upfront contribution, a 5million improvement on the original offer, as well as rent of 2.5m a year and 6m-a-year income for the LLDC from stadium naming rights and catering revenues.

The LLDC confirmed this month that the stadium will not re-open until 2015 at the earliest and possibly the summer of 2016 – which would be two years later than expected.

The delay was branded 'a farce' by UK Athletics chairman Ed Warner – his organisation had planned events such as Diamond League meetings, trials and school competitions from 2014 and is hosting the 2017 world championships.

Warner said two weeks ago: 'All of the legacy use was scheduled to start in two years' time and now it might be four years' time which strikes me as ludicrous and to be a paralysis of decision-making which I hope the mayor [Boris Johnson] is going to cut through.

'I wouldn't say this is a Whitehall farce but this is fast becoming a Stratford farce.'

Port Vale exit administration

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Port Vale exit administration after 1.25m takeover is finalised for League Two promotion chasers

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UPDATED:

20:42 GMT, 20 November 2012

On song for promotion: Micky Adams has guided Port Vale to second in League Two

On song for promotion: Micky Adams has guided Port Vale to second in League Two

Port Vale are out of administration after Paul Wildes' takeover of the npower League Two club was finalised.

Supported by his business partner Norman Smurthwaite, Wildes' Alchemy Investment Group's 1.25million bid was approved by administrators Begbies Traynor on Tuesday.

The deal, which has also been approved by the Football League, sees the Valiants come out of administration, eight months after entering in March.

In a statement on the club's website, Wildes, who was named as the preferred bidder last month after Keith Ryder's summer-long bid ended, said: 'I would like to thank the Port Vale supporters, once again, for their ongoing patience and support.

'It has been a long process but we are delighted to have finally taken over the club and look forward to a long and successful association.

'As I have previously stated, our intention is to develop the club both on and off the field.

New dawn: Port Vale have exited administration after a 1.25m takeover was agreed

New dawn: Port Vale have exited administration after a 1.25m takeover was agreed

'On the pitch we're continuing to support [manager] Micky Adams and the squad as they push for promotion. Off the pitch we have made some key appointments to ensure the immediate and ongoing success of the club.'

Wildes will become club chairman and Smurthwaite has been named as chief executive, with Mike Aspinall taking up the role of operations director.

Financial director Robin Anderson will take responsibility for finance and IT departments and the club is also planning to appoint a commercial director.

Balram Chainrai denies there are problems with Portpin"s Portsmouth takeover

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Chainrai denies there are problems with Portpin's takeover of stricken Portsmouth

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UPDATED:

15:08 GMT, 13 October 2012

Balram Chainrai has denied there are problems with Portpin's takeover at Portsmouth.

Pompey have been in administration since February and the npower League One outfit will go bust if a takeover is not completed.

It is the second time the club has been in administration in two years and Chainrai was at the helm the first time in February 2010, before selling to Vladimir Antonov.

Portsmouth went back into administration this year during which time Portpin retained a charge over the club's assets and Fratton Park.

Denial: Chainrai

Denial: Chainrai

Chainrai is now looking to take over the club but reports have questioned whether he will pass the fit and proper person test as Football League rules do not allow a person to own a football club or be a director if he has previously twice been a director or owner of a club when it has fallen into administration.

Following those reports, the Hong Kong-based business released a statement that said: 'Our discussions with the Football League have been positive and are progressing.

'As far as we are aware we have satisfied the majority of the criteria and we expect now to work through the last remaining points with the Football League in the coming days.

'We are very confident that we are in a position to complete the acquisition of Portsmouth Football club in the near future.'

The reports also suggested administrators PKF are set to resume discussions with the Pompey Supporters Trust (PST) next week over its takeover proposal.

The trust, which could be presented to the Football League as preferred bidder, is expecting to hear from administrator Trevor Birch soon and remains resolute in its attempts to buy Portsmouth.

'The PST position has always been clear that we have got what we believe is a credible bid,' PST spokesman Colin Farmery said.

'It has been on the table since June and we've always said that we're ready, willing and able to buy the club.

'Obviously we've seen these interesting stories overnight that have come out in the media.

'As far as we're concerned, we're in an on-going dialogue with PKF and we're expecting to get further clarification next week.

'We wrote to the Football League about a fortnight ago outlining our concerns as to why we thought that Portpin should not actually pass their owners and directors test.

'The Football League met on Thursday and nothing official has come out of that meeting at the moment.'

Scott Taylor set for Hull KR exit

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Taylor has played his last game for Hull KR, says chairman as young prop nears exit

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UPDATED:

11:11 GMT, 27 September 2012

Hull KR are preparing to sell promising forward Scott Taylor to the highest bidder, chairman Neil Hudgell has revealed.

The 21-year-old prop, who played for England against the Exiles this summer, has 12 months left of his contract with the Robins but has refused to discuss an extension and has been linked with moves to Wigan and neighbours Hull FC.

'We have done all we can to try and tie Scott down longer term, with vastly-improved terms being offered,' Hudgell told the Hull Daily Mail.

Out: Scott Taylor (left) looks to have played his last game for Hull KR

Out: Scott Taylor (left) looks to have played his last game for Hull KR

'He refuses to negotiate at all, which is a very strong indicator to me that he doesn't want to be here any more.

'It is a disappointment after what we have invested in him but I am not prepared to be backed into a corner on it and be dictated to by Scott and his agent.

'Inevitably I think that means he has played his last game for the club and we will sell him to the highest bidder.'

Hull KR recently allowed stand-off Blake Green to join Wigan despite having two years left on his contract in a deal thought to be worth 100,000.

London 2012 Olympics: James Ellington secures spot at Games with 200m win in Birmingham

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Ellington's eBay sponsors get money's worth as sprinter secures Games spot in 200m

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UPDATED:

19:45 GMT, 24 June 2012

Six months ago, James Ellington was up for auction on internet site eBay in a last-ditch attempt to attract some much-needed sponsorship.

In six weeks time he will be running for Great Britain at the Olympic Games.

The 26-year-old won the 200 metres at Sunday's trials at Birmingham's Alexander Stadium in 20.56 seconds and, with the 'A' qualifying standard already in the bag, is guaranteed a place on the team for London.

Unbridled joy: James Ellington secured his spot at the Olympics

Unbridled joy: James Ellington secured his spot at the Olympics

His story began last December when the Newham and Essex Beagle was forced to resort to eBay, where he had a reserve price of 30,000, to find the sponsorship which would allow him to train full-time.

When the auction closed delight turned to despair when the highest bidder turned out to be a hoax, only for shaving company King of Shaves to step in and offer him a genuine deal.

'(Today is) the best day of my life, serious,' said Ellington, who is on the lower standard podium relay rather than podium lottery funding after being plagued by injury.

'I said from the beginning all I needed was the backing and the support so I could train full time, hence the eBay idea.

Make your bids: Ellington had to secure funding through eBay

Make your bids: Ellington had to secure funding through eBay

'I'm a very determined person and I was just trying to think outside the box.

'All the other ideas, sending off emails, weren't working so I thought 'let's do something different' and it worked, thank God.

'Obviously with the backing I've been able to train full-time and that's within a matter of five months. And now you've seen the results.'

Ellington finished 0.07secs ahead of Cardiff's Christian Malcolm, who took second to also book his Olympic spot.

Me too: Christian Malcolm (left) also booked his place at the Games

Me too: Christian Malcolm (left) also booked his place at the Games

And Ellington, who was previously coaching children to make ends meet, which only allowed him to train up to four days a week, insisted he always believed he would make the London team.

'I dreamt it, that was the whole idea,' he added. 'I thought I need to give it a go this year, because if it's going to happen it's got to happen this year. And it paid off, big time.

'There are people who want to be your best friend when you're running well, as soon as you're not running well they don't want to know you.

'But that doesn't bother me, because I always knew what potential I had and I think I've shown everyone today.'

"Orphaned" Belgium fans put Euro support up for sale on eBay after team failed to reach finals

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'Orphaned' Belgium fans put Euro support up for sale on eBay after team failed to reach finals

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UPDATED:

12:18 GMT, 1 June 2012

As England's travelling support wavers for Euro 2012, they may need to acquire a few mercenaries to boost their turn-out.

A group of 300 Belgium football fans have put their support up for sale on eBay for charity, and the highest bidder gets to choose the team they support.

England face Belgium on Saturday at Wembley in their last warm-up before the finals.

Maybe next time: Belgium did not qualify for the Euros this year

Maybe next time: Belgium did not qualify for the Euros this year

Belgium will not be in Poland and Ukraine over the summer, as they failed to qualify from Group A, but this set of fans are not letting their passion go to waste.

On a Facebook page set up by the fans, a statement said: 'Once again we, Belgian soccer fans, have no team to root for in the euro 2012 tournament.

'Once again we are orphaned, wandering through the streets without colours, without flag.

Enlarge

Mercenaries: A group of Belgium fans have put their support up for sale on eBay

Mercenaries: A group of Belgium fans have put their support up for sale on eBay

'We will watch the games, but we won't taste the heat of the fight, the tension between victory and defeat.'

The winner of the auction, which already has dozens of bids, will gain hundreds of fans who pledge to wear the team colours and flags of their chosen country.

'This group and all its members will be put for sale on ebay, and all profits will go to Unicef.

'The highest bidder can choose what country we will be rooting for during Euro 2012. We will instantaneously become huge fans of his or her team.

'Yes, even if that means Holland.'

The fans' eBay page jokingly stated that they
were willing to indulge in 'slight hooliganism'.

Ready England will face Belgium in a warm-up game on Saturday

Ready England will face Belgium in a warm-up game on Saturday

The page says: 'Slight hooliganism is available at extra cost.

'We can, for example, kick a pigeon or smoke in a non-smoking area if such pleases our master.'

The fans are not limiting themselves to one club through the whole tournament though.

If their adopted team are knocked out, they have said they will 'grieve' for 24 hours and then put themselves back on eBay to support another country.

The Facebook page said: 'Once the team is eliminated, we will grieve for 24 hours and then put ourselves for sale again on ebay.

'Hopefully joined by the previous winner since he or she will also have become an orphaned soccer fan by then.'

The auction ends on June 7. You can see the Belgium fans' page here

Rangers in crisis: No HMRC agreement

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Rangers administrators play down talk of deal with HMRC over debt

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UPDATED:

11:58 GMT, 27 May 2012

Rangers' administrators have played down claims that a deal has been reached with Her Majesty's Revenue and Customs over the club's debt.

Charles Green, who is fronting the consortium who have signed an exclusive contract to buy the club, said HMRC had 'given us the nod'.

However, Duff and Phelps said nothing can be certain until the Company Voluntary Arrangement (CVA) is in place.

Main man: Charles Green is set to complete his takeover of Rangers

Main man: Charles Green is set to complete his takeover of Rangers

Joint-administrator Paul Clark told several newspapers: 'There has been an ongoing dialogue with HMRC and we wouldn't have got to such an advanced stage if we didn't feel there was more than a strong possibility of a CVA being approved.

'But there is no deal and that can't happen until there is a meeting of the creditors.”

That meeting could take place on June 11 or shortly afterwards if administrators issue the CVA proposal tomorrow, seven days later than initially planned.

Clark said: 'We're on track. Relative to other football admins, there's been a good amount of swift progress.

'It's very rare these things are resolved in three or four months. Getting the CVA proposal is a major milestone and that will happen on Monday.'

Open for business Rangers have been in administration since February

Open for business Rangers have been in administration since February

He said: 'The problem with the club historically is there has been no corporate governance.

'There was no accountability, no corporate balance.

'What we need to do is get people who haven't got shares on the board so they are not influenced by the share holding.

'When they make a decision then it's made on the basis of what is proper and what is right, not what is in David Murray's interest or that of David Murray holdings or in the interest of Craig Whyte.'

Green, the preferred bidder for Rangers, said he has an informal deal in place with HMRC to repay the debts in part through a Conditional Voluntary Agreement (CVA).

'HMRC have given us the nod but we need it in writing,' the former Sheffield United executive told the Daily Record.

McCoist confident St Johnstone clash will not be Rangers" last game

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Rangers boss McCoist confident St Johnstone clash will not be last game

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UPDATED:

16:19 GMT, 12 May 2012

Upbeat: Rangers manager Ally McCoist

Upbeat: Rangers manager Ally McCoist

Manager Ally McCoist is confident Rangers will continue in some shape or form beyond this campaign.

The stricken Glasgow giants travel to St Johnstone on Sunday for their final Clydesdale Bank Premier League game of the season.

But while the football is set to come
to an end for now, talks will continue behind the scenes as
administrators Duff and Phelps try to find a suitable buyer.

Asked whether it has crossed his mind that the trip to Perth could be
Rangers' last game, McCoist said: 'It hasn't because I don't believe
that will be the case.

'I'm not walking about with blinkers on, my eyes are very much open to the situation.

'But the club has to go on, it will go on, it must go on. I am still of
the opinion that our football club will continue with all the history
we have had.'

Sale Sharks
owner Brian Kennedy and the Blue Knights took their offer off the table
yesterday, claiming it is now to late to push through their favoured
method of exiting administration via a Company Voluntary Arrangement.

American tycoon Bill Miller also withdrew from the process on Tuesday just days after being named preferred bidder.

Administrators said last night that discussions with two bidding parties were at 'a very advanced stage', with one of the groups involved in discussions reported to have links with former Sheffield United chief executive Charles Green.

McCoist is familiar with one of the individuals involved with one of the groups.

Setback: Brian Kennedy withdrew his bid for Rangers

Setback: Brian Kennedy withdrew his bid for Rangers

He said: 'It's not for me to say who that is. I would be very positive about this gentleman.

'I don't know him, to be honest with you. I've never met him.

'But the administrators have told me a bit about him and anything that is a step in the right direction would have to be positive news.

'Just the fact that he is hopefully going to take the club forward would be enough reason to be positive.'

Players will revert back to their original contracts at the end of the month after agreeing wage cuts of up to 75% in March until the end of the season to avoid widespread redundancies.

McCoist would be reluctant to see his squad asked to extend that period of cuts further.

He said: 'That's a question that will hopefully never be asked of the players. Only they can answer it.

'The players have made fantastic sacrifices. They have had a bizarre season in many ways, having to take cuts.

'I've said to them I think they have been great, I really do.

'There has been an awful lot asked of the players this season and they have been great but hopefully they won't need to be asked that question again in the future.'

On the ongoing search for a new owner, McCoist added: 'I'm reserving judgement on everything at the moment.

'I refuse to get carried away as you can probably imagine.

'But, at the same time, I still remain optimistic and upbeat and very hopeful.'

Brian Kennedy: Rangers must accept Blue Knights" offer for Friday

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Take it or leave it! Kennedy hands Rangers Friday deadline for Blue Knights' offer

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UPDATED:

08:08 GMT, 11 May 2012

Sale Sharks owner Brian Kennedy has warned Rangers' administrators they must accept the Blue Knights' offer for the club on Friday or they will walk away.

Kennedy has reportedly struck a deal with Craig Whyte to acquire his 85 per cent shareholding and will now push Duff and Phelps to name a bidder.

Saga continues: Crisis club Rangers are still yet to finalise a takeover deal

Saga continues: Crisis club Rangers are still yet to finalise a takeover deal

The Blue Knights were previously offered preferred bidder status but former partners Ticketus would not pay the exclusivity fee and they were then beaten by Bill Miller, who withdrew on Tuesday.

Kennedy told the Daily Record they were now at the 'end of the road'.

'If
our bid is not accepted in the next few hours then, most reluctantly,
we will have to withdraw from the process by lunchtime,' he said. 'Let
me be absolutely clear. This is not brinkmanship or an empty threat.

'We
have a plan to save this club but my lawyers, Walker Morris, have
advised me it will not be possible to execute a CVA unless, on Saturday
morning, we begin working, full-time and flat out on due diligence and
documentation.

Ultimatum: Sale Sharks owner Brian Kennedy

Ultimatum: Sale Sharks owner Brian Kennedy

'Any later than that and our plan cannot be delivered with any legal certainty.

'For that reason we'll be forced to withdraw our offer today and neither I nor any member of the Blue Knights consortium will be left as the last man standing.'

Duff and Phelps last night announced Whyte had struck a deal with two groups, with one understood to be a group with experience of running clubs in the top two levels of English football.

Joint administrator Paul Clark said: 'We have continued discussions today with the parties remaining in the bidding process and good progress has been made.

'We can also confirm that Craig Whyte has confirmed that he will transfer his shareholding in Rangers Football Club to two of the parties and has indicated he would not be an impediment to a sale of the club.

'We will issue a further update for supporters and can say that every effort is being made to conclude the sale of the club as quickly as possible.'

According to Duff and Phelps, three potential ownership groups emerged in the wake of Miller's withdrawal to rival the Blue Knights, whose offer was conditional on acquiring Whyte's 85 per cent shareholding.

Like the Knights, the English-based consortium are understood to favour exiting administration through a Company Voluntary Arrangement.