Tag Archives: consortium

Jack Butland could be sold by Birmingham

Birmingham prepared to sell Butland if Paladini's takeover falls through

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UPDATED:

22:21 GMT, 14 November 2012

Jack Butland will be sold by Birmingham City in the New Year, unless Gianni Paladini's takeover of the club is successful.

The England international has yet to play half a-season for Lee Clark but with the cash reserves dwindling, the keeper will be sacrificed to ensure the St Andrew's club can continue to operate.

Butland has agreed a five-year deal last year and Birmingham rejected a 6m offer by Southampton for the teenager during the summer.

Heading out Jack Butland could be sold by Birmingham

Heading out Jack Butland could be sold by Birmingham

Liverpool are also interested but Birmingham will be in a position to rebuff any interest should the second bid by Paladini's consortium be accepted by acting chairman Peter Pannu.

The offer, which is for an initial 20m backed by a further 10m, is being consideration in Hong Kong by owner Carson Yeung and Paladini's accountants are currently undertaking due dilligence.

Bid: Gianni Paladini

Bid: Gianni Paladini

The former QPR chief executive said: 'We want to get a deal done very soon because we don't want to lose any players in January.

'I am hopeful that we can get something agreed within the next ten days.

'I still believe BIrmingham can reach the play-offs and our intention is to sign four or five players in the transfer window to strengthen.

'We have spent a lot of money trying to get this completed and currently we are looking through the books.

'Our intentions have never wavered. We want it done. And we are keen to get it sorted by the end of next week.'

He said: ‘That means delivering a stadium that preferably is multi- purpose, at the heart of the community, and able to host concerts and big set-piece events alongside world-class sport.’

Charles Green thanks Rangers fans for backing on share issue

Green praises fans for share backing as Rangers dream up big plans

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UPDATED:

14:02 GMT, 13 October 2012

Rangers chief executive Charles Green has thanked fans for demonstrating their early support for plans for a share issue.

The Glasgow club announced on Thursday their intention to seek admission to the Alternative Investment Market of the London Stock Exchange in the hope of raising up to 20million.

According to Rangers, funds raised will be used for 'strengthening the player squad, improving and developing the club's properties and providing additional working capital'.

Ideas: Charles Green shows off property plans

Ideas: Charles Green shows off property plans

Green, who values the Ibrox club at 25-30million, hopes to have their admission to the AIM completed by the end of November.

And he has welcomed what he described as a 'very encouraging' early response from the club's support.

Green said: '/10/13/article-0-15752011000005DC-184_468x315.jpg” width=”468″ height=”315″ alt=”Encouraging: Green is pleased with how things are going” class=”blkBorder” />

Encouraging: Green is pleased with how things are going

'This is an early indication of interest but I would like to thank fans for the support they have given the process so far and we are pleased that fans have the opportunity to invest in the club.

'I think this shows once again that Rangers are a big club with a big support.'

Green's consortium purchased the business and assets of the club for 5.5million after the 'oldco' Rangers were consigned to liquidation in the summer after several months in administration.

He added: 'Now we are a debt-free business there is every opportunity for the club to be run efficiently, effectively and successfully.'

Portsmouth takeover: Middle East group fail to deliver as two groups submit bids

Middle East group fail to deliver as two groups submit takeover bids for Portsmouth

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UPDATED:

23:52 GMT, 14 September 2012

The two groups attempting to buy stricken Portsmouth have submitted their bids, with administrator Trevor Birch hopeful of concluding a sale in the near future.

Birch set a deadline of Friday for former owner Balram Chainrai's company Portpin and fans' group the Pompey Supporters' Trust to finalise their bids.

New dawn Portsmouth beat Crawley as the takeover deadline draws near

New dawn Portsmouth beat Crawley as the takeover deadline draws near

Birch says he is not yet in a position to complete the sale but has handed both parties more time to save the club.

Portsmouth have been in administration since February and will go bust if a takeover is not completed.

Birch said: 'Significant progress has been made over the past two weeks,
and both Portpin and the Pompey Supporters' Trust (PST) are continuing
to work with the Football League, which must agree that they can take
ownership of Portsmouth Football Club, and the Professional Footballers'
Association, which represents the players owed money by the club.

'However, neither party is in a position to complete an acquisition of the club at the moment.

Here we go: Izale McLeod scored for Portsmouth against Crawley

Here we go: Izale McLeod scored for Portsmouth against Crawley

'Once the bidders reach agreement with the League, and the remaining
contractual aspects of the transaction have been agreed, we will be in a
position to finalise a sale.

'Our discussions with both Portpin and the PST suggest that both parties are capable of concluding a deal.

'As a result of these factors, we believe it is in the best interests of
creditors to allow the interested parties a further short period of
time to conclude a sale.'

Birch made no mention of a proposed third bid from a Middle East
consortium involving another former Fratton Park owner, Sulaiman Al
Fahim.

Hopes grow for Bradford Bulls as four bids confirmed for troubled Super League club

Hopes grow for Bradford as four bids confirmed for troubled Super League club

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UPDATED:

19:02 GMT, 16 August 2012

The Rugby Football League have said they are considering four bids for the Bradford Bulls.

The game's governing body have been
working closely with joint administrator Brendan Guilfoyle as he looks
to find a buyer for the cash-strapped club whose future has been under
some question for most of the season.

One of the bids is from Super League
Europe Ltd and three other bids have also been tabled, with all parties
required to submit business plans by next Tuesday.

Dark days: Bradford continue to fight against a rank financial situation

Dark days: Bradford continue to fight against a rank financial situation

The RFL have refused to confirm who the interest is from, although it is believed Bradford City co-chairman Julian Rhodes is behind one of the groups, and chief operating officer Ralph Rimmer is positive about the club's future in light of the fresh advances.

In the absence of an official club website, a statement from Rimmer released on Bradford's Facebook page read: 'We had constructive meetings with all the consortia that have submitted proposals to the administrator and we're optimistic about the future of Bradford Bulls.

“There are now four confirmed bids for the Bulls and each consortium has been asked to submit business plans to us by Tuesday, August 21. Due to the sensitive nature of the current discussions we are unable to confirm who the bids are from at present.'

Rimmer also believes bids have been tabled in light of the offer made by Super League Europe, adding: 'It does appear that this renewed interest has come as a direct consequence of the offer from Super League Europe Ltd, which remains on the table.

'We understand the frustration regarding the ongoing process but it is vital that due diligence is carried out on all the bids and that ultimately the right owners are found for the good of the club and the sport as a whole.'

Guilfoyle met with the RFL to discuss the bids yesterday and is happy that all interested parties have the necessary funds to satisfy the governing body's criteria for a buyout.

'We are pleased to be working collaboratively with the RFL to agree on a purchaser and sell the club,' he said.

'We now have all the ingredients that the RFL has requested and funds proven from three bidders plus the Super League Europe Ltd offer.

'The RFL will consider the bidders' business plans which are to be received by the Tuesday deadline, and all concerned do understand the need to bring this to a swift conclusion.'

Warrington 50 Bradford 22: Mick Potter considers exit

Warrington 50 Bradford 22: Do or die for Bulls as Potter feels pinch

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UPDATED:

22:17 GMT, 29 July 2012

Mick Potter admitted he will be forced to walk away from Bradford if a rescue deal is not concluded early this week.

Potter has been working on a voluntary basis for Bradford’s last three games, but conceded that he can no longer afford to work for nothing after this nine-try defeat.

Potter said: 'It's nearly that time. We’re coming to the point where everyone needs to make a call.

Blown away: Warrington thrashed crisis club Bradford

Blown away: Warrington thrashed crisis club Bradford

'I think it's coming to a climax as far as the people who are talking to the RFL and the administrators, so it’s coming to a head all round.

'A decision will be made formally as to what’s happening, and then I can go from there. It won’t be too far in the distant future.'

Two different parties are believed to be interested in buying the crisis-hit club, but the RFL have already rejected an offer from the ‘ABC Consortium’ after declaring conditions attached to the deal as ‘unacceptable’.

Potter said: ‘I know they’ve been speaking over the weekend and I imagine it’s a priority for the RFL and for Bradford. I’m an optimistic person and I’m hopeful, but I honestly don’t know what’s going on.

‘I’ve had two brief conversations with both (consortia). I’m hopeful, but we’ll wait and see. It’s not right for me to talk about those conversations, but touch wood something positive will happen for Bradford.’

There was little that was positive about this performance from the Bulls, who trailed 32-0 before half time after Warrington made a sensational start.

The emotion that has carried Bradford in recent weeks appeared to run dry during a four-try, nine-minute spell inside the first quarter that killed off any hopes of a shock away win.

With Brett Hodgson rested, Stefan Ratchford took his chance at full back with a superb four-try haul. Wolves’ assistant coach Richard Marshall said: ‘Stefan’s found his feet there. He contributed really well, and not just with his tries.’

Former Australia winger Joel Monaghan got Warrington off to a flyer when he touched down from Rhys Evans’ pass inside the first minute.

Further scores from Richie Myler, Chris Riley and Simon Grix complemented Ratchford’s first two tries as the hosts built a 32-6 half-time lead.

Bradford rallied through Danny Addy (two), Elliott Whitehead and Karl Pryce, but David Solomona kept the Wolves ticking over before Ratchford claimed his third and fourth.

Bradford Bulls docked six points over administration

Bull's play-off hopes dashed after crisis club docked six points over administration

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UPDATED:

09:02 GMT, 25 July 2012

Bradford Bulls have been deducted six points for going into administration.

The Rugby Football League’s board of directors imposed the punishment after the ailing Super League club breached the game’s insolvency regulations.

A statement said: 'The RFL board of directors has today ruled that Bradford Bulls will be deducted six points – the equivalent of three competition wins – as a penalty for entering into administration during the 2012 Stobart Super League season.'

Fear: Bradford Bulls could yet go to the wall after entering administration

Fear: Bradford Bulls could yet go to the wall after entering administration

The deduction takes immediate effect and drops the Bulls out of the play-off positions, from seventh to ninth, ahead of Sunday’s trip to Warrington, with Huddersfield and Hull KR moving above them in the table.

Bradford, who have won three of their last four matches to raise hopes of reaching the play-offs for the first time in four years, were bracing themselves for the points deduction after entering administration on June 26.

Both Wakefield and Crusaders were docked four points when they entered administration on the eve of the 2011 season after the RFL directors took into account the new owners’ willingness to pay off some of the debts to creditors.

Dedicated: Coach Mick Potter remains in charge despite not being paid

Dedicated: Coach Mick Potter remains in charge despite not being paid

Although Bradford’s joint administrator Brendan Guilfoyle has found a potential buyer, any deal is some way off being completed.

Guilfoyle has passed on details of a formal, written offer from the ABC consortium, a group of local Asian businessmen, to the RFL but it is conditional on them being able to buy back the lease to Odsal Stadium and receiving a guarantee on the Bulls remaining in Super League.

He has until this Friday to avoid putting the club into liquidation, although he has the option of a further extension of the deadline if he feels he can complete a deal.

Offer for Bradford Bulls assessed by RFL

RFL assessing Bradford Bulls bid as fears grow over liquidation threat

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UPDATED:

21:30 GMT, 24 July 2012

The Rugby Football League are scrutinising an offer for Bradford Bulls before they hand it over to the RFL board of directors.

The offer, from a group of Asian businessmen known as the ABC consortium, is thought to be conditional on being able to buy back the Odsal Stadium lease from the RFL and getting a guarantee Bradford will stay in Super League.

Bulls administrator Brendan Guilfoyle says he will place the club into liquidation if no buyer is found by Friday.

Threat: Bradford Bulls could be placed into liquidation on Friday if a buyer isn't found

Threat: Bradford Bulls could be placed into liquidation on Friday if a buyer isn't found

Bradford Bulls crisis: Administrator receives formal offer

Bradford administrator receives formal offer, but decision hangs on owners buying lease of Odsal

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UPDATED:

19:02 GMT, 19 July 2012

The consortium seeking to buy Bradford Bulls have no intention of moving the club to Valley Parade, administrator Brendan Guilfoyle has revealed.

Guilfoyle has confirmed he had received an offer from the ABC consortium, a group of local Asian businessmen, for the financially-stricken Super League club.

But Guilfoyle, partner at Leeds-based The P&A Partnership, says the offer is conditional on the prospective new owners buying back the lease of Odsal Stadium and the Bulls retaining their Super League status.

Generous: Bradford fans have dipped into their own pockets to help staff

Generous: Bradford fans have dipped into their own pockets to help staff

The Rugby Football League bought the
lease for 1.25million in January to help the club pay off debts and
safeguard the stadium's future as a rugby league venue.

The conditions laid down by the
consortium, which is thought to contain property developers, led to
speculation Odsal could be sold and the Bulls could once more move in
with Bradford City but Guilfoyle tonight insisted that was not the case.

'I asked them about it yesterday
(Wednesday) and they told me that suggestions they were trying to lift
the restricted covenant were wrong.' Guilfoyle told BBC Radio Leeds.

'Inevitably there is speculation from fans but I don't see any evidence of anybody trying to move to Valley Parade.

Volunteer: Mick Potter returned to coach Bradford for free after being laid off

Volunteer: Mick Potter returned to coach Bradford for free after being laid off

'They are quite comfortable with
playing at Odsal. They are looking at how they can increase the revenues
at the club because that's what is necessary to stop the losses and
they see the Coral Suite as an under-used asset.'

Guilfoyle confirmed he is to meet the RFL tomorrow to update them on the offer.

Rangers in crisis: Ibrox fans demand answers

Ibrox outcry! Rangers fans demand answers amidst doomsday fears

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UPDATED:

21:54 GMT, 27 June 2012

Rangers fans have called on new owner Charles Green to end fears of an Ibrox doomsday scenario — where the club fail to exist in any form by next season.

Irate supporters protested outside Ibrox as concerns rose over the ability of Green’s Sevco 5088 consortium to meet the running costs of the club.

And the crowd was addressed by former club favourite John Brown, who revealed he is fronting a bid by supporters to buy-out Green.

Protest: Rangers fans are growing increasingly concerned about their club

Protest: Rangers fans are growing increasingly concerned about their club

After being effectively kicked out of the SPL by rival chairmen, newco Rangers now look doomed to apply for a place in the Third Division after increasing numbers of SFL chairmen voiced their opposition to the Ibrox club being parachuted into the First.

Against a worrying silence from Green, the long-suffering Rangers fans’ new fear is their club could be heading for administration for the second time in four months — and is ultimately bound for oblivion.

‘The new season is drawing very close and Rangers are in a very grave situation,’ said John Macmillan, general secretary of Rangers Supporters Association.

Disillusioned: Rangers fans are far from happy with Charles Green's ownership

Disillusioned: Rangers fans are far from happy with Charles Green's ownership

‘It’s time for Charles Green to allay the worries of the Rangers fans who are now fearing the very worst.

‘He needs to be transparent and show he’s got the money to take the club forward.

‘I’ve always had concerns that Mr Green doesn’t have the money and that’s why I asked fans not to renew season tickets until there’s more concrete information available.

‘Mr Green hasn’t done enough to win the trust of the fans, yet.
‘The fans are in the dark.’

We want answers: Rangers look set to be relegated to the Third Division

We want answers: Rangers look set to be relegated to the Third Division

Macmillan says Rangers fans are also unhappy with their players for quitting the club this week for free, rather than allowing their contracts to transfer to the newco.

‘The fans are bitterly disappointed by the players’ actions,’ he said. ‘They hoped the players would have earned Rangers a bit of money, but they have been a bit selfish. The fans expected loyalty, especially from people like Steven Naismith who was well looked after when he was injured.

‘The fans appreciate these players don’t want to play in the First or Third Division, but they could have shown a bit of loyalty by helping the club get a transfer fee.’

Plan: Former Rangers player John Brown rallies the crowd outside Ibrox

Plan: Former Rangers player John Brown rallies the crowd outside Ibrox

Meanwhile, Rangers’ hopes of a soft landing in the First Division appear doomed after Morton joined Raith Rovers, Falkirk, Peterhead, Montrose and Annan Athletic as officially saying ‘no to newco’.

Sportsmail believes Livingston, Partick Thistle and Dunfermline are also poised to follow that lead, amid pressure from their own fans, while a significant number of other SFL clubs polled by this newspaper are eventually expected to cast a ‘no’ vote.

Morton chairman Douglas Rae said: ‘If it comes down to a vote, I will be voting for Rangers to go to the Third Division.’

Rangers crisis: Green issues legal warning to players

Green issues legal warning to Rangers players seeking exit from newco

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UPDATED:

14:28 GMT, 23 June 2012

Any Rangers player who tries to force a move away from the “newco” club could face legal action, chief executive Charles Green has warned.

Green, the leader of the consortium which recently purchased the business and assets of the club for 5.5million, is due to meet PFA Scotland representatives on Monday and said the transfer of player contracts to newco Rangers had already taken place.

Midfielder Rhys McCabe has reportedly lodged an official objection to the transfer of his contract to the newco and winger Sone Aluko is also reported to be unhappy to play for the new set-up.

Unhappy: Aluko has expressed his concerns

Unhappy: Aluko has expressed his concerns

Rangers CEO Green said: 'We are meeting the PFA Scotland and their legal advisers on Monday with a view to allaying players' concerns about the transfer of contracts, so the timing of these announcements by players is hard to understand.

'The transfer of contracts has already happened and the club's clear legal advice is that players' purported objection is ineffective.

'Rangers would like to make it abundantly clear to players, agents and the chairmen and managers of other football clubs that we will take whatever steps necessary to challenge what we regard as a breach of contract to protect the interests of our club.'

Rangers were forced into administration over an unpaid tax bill in February, and failure to secure a Company Voluntary Arrangement (CVA) in order to exit administration consigned the club to liquidation last week.

The new regime faces a battle to see newco Rangers granted entry into the Scottish Premier League and will face a vote by all 12 top-flight clubs on July 4, with Hearts and Dundee United having already indicated they will reject Rangers' bid.

Warning: Charles Green (right) has sent a message to the Rangers squad

Warning: Charles Green (right) has sent a message to the Rangers squad

Manager Ally McCoist wants the players to be open about their plans and called on them to let the club's fans know what is happening.

McCoist, in a statement jointly released with Green, said: 'It has been reported that a couple of players have indicated they want to challenge the transfer of their contracts. This is news to me and no player has spoken to me about it.

'At all times during my first year as manager I strived to show players respect and in return would have hoped they would have shown me, and more importantly the club, respect by notifying us of their intentions before making it known elsewhere.

'Players have their own decisions to make, and I understand that, but the question they have to ask themselves is – do they want to play for Rangers or not The formation of a new company is not the issue. The players would be playing for the same club – Rangers – in front of the same fans.'

Keeping the faith: McCoist is hopeful of keeping his squad together

Keeping the faith: McCoist is hopeful of keeping his squad together

McCoist feels that players need to make their intentions known publicly and has been critical of agents looking to get a move for their clients.

He added: 'I don't want Rangers fans to be reading over the next few days how devastated players are about having to go. The fans deserve better than that. They are not daft.

'I can understand if a player has the chance to go somewhere else and there is uncertainty about which division we will be playing in. If that is the case that is understandable but they should not expect sympathy from Rangers supporters if they use the transfer of contracts as an excuse.

'I already know there are agents touting my players all over the United Kingdom, so let's be brutally honest. We are in a difficult situation and the contracts issue has given some players and agents the belief they can use it to leave the club.

'The players were magnificent last season and made great sacrifices and that will never be forgotten. Now, we have to look forward and everyone should be up front and honest about their intentions.'